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2004 KANSAS FARM MANAGEMENT ASSOCIATION, SW
INCOME AND EXPENSE ANALYSIS
**BY CAPITAL MANAGED *** - 500000 *** *** 500001 - 750000 ***
31 FARMS 26 FARMS
ITEM PER FARM PER FARM
1 BEEF 19,589 21,261
2 DAIRY AND MILK 15- 62
3 SHEEP 81 161
4 SWINE 10
5 POULTRY AND EGGS
6 OTHER LIVESTOCK 18 42-
7 CUSTOM FEEDING 353 567
8 FEED PURCHASED 6,053- 7,520-
9 LIVESTOCK INCOME $13,983 $14,488
10 CORN 7,676 27,820
11 GRAIN SORGHUM 2,721 6,636
12 SOYBEANS 357 3,949
13 SUNFLOWERS 1,377 173-
14 WHEAT 8,318 17,127
15 HAY AND FORAGE 741 19,325
16 OTHER CROP 324 4,123
17 GOVERNMENT PAYMENTS 10,218 19,549
18 CROP INSURANCE PROCEEDS 3,615 10,450
19 OTHER INCOME 6,201 11,632
20 VALUE OF FARM PRODUCTION $55,531 $134,926
21 HIRED LABOR 1,941 3,708
22 MACHINERY REPAIRS 5,769 11,811
23 IRRIGATION REPAIRS 1,307 1,588
24 BUILDING REPAIRS 398 1,251
25 INTEREST PAID 4,355 7,072
26 SEED-OTHER CROP EXPENSE 1,873 7,192
27 CROP INSURANCE 1,350 3,947
28 FERTILIZER-LIME 3,474 11,341
29 MACHINE HIRE 6,194 8,980
30 ORGANIZATION FEE, PUBLICATION 1,512 1,811
31 VET-MED-DRUGS 981 509
32 CROP STORAGE-MARKETING 251 344
33 LIVESTOCK MARKETING-BREEDING 426 160
34 DAIRY EXPENSE 3
35 GAS-FUEL-OIL 2,664 5,359
36 IRRIGATION ENERGY 1,815 11,430
37 REAL ESTATE TAXES 2,367 3,758
38 PERSONAL PROPERTY TAXES 668 850
39 GENERAL FARM INSURANCE 3,264 3,060
40 UTILITIES 2,046 2,438
41 CASH FARM RENT 1,356 4,207
42 HERBICIDE-INSECTICIDE 2,353 7,667
43 CONSERVATION 5
44 AUTO EXPENSE 975 1,098
45 TOTAL OPERATING EXPENSE $47,343 $99,584
46 DEPRECIATION-MACHINERY 4,218 8,965
47 DEPRECIATION-BUILDINGS 631 796
48 TOTAL FARM EXPENSE $52,193 $109,345
49 NET FARM INCOME $3,338 $25,581
50 UNPAID FAMILY LABOR 726 1,212
51 UNPAID OPERATOR LABOR 11,410 22,638
52 MANAGEMENT CHARGE 1,769 6,521
53 CURRENT ASSET CHARGE - 8% 2,662 3,862
54 NONCURRENT ASSET CHARGE - 8% 6,615 23,666
55 RETURN LABOR-MANAGEMENT 6,664- 3,158-
56 RETURN TO CAPITAL 6,212- 2,281
57 ASSET TURNOVER RATIO .2850 .2992
58 OPERATING PROFIT MARGIN RATIO .1119- .0169
59 % RETURN ON ASSETS .0319- .0051
60 % RETURN ON EQUITY .0911- .0139-
61 TOTAL EXPENSE RATIO .9399 .8104
62 ADJUSTED TOTAL EXPENSE RATIO 1.1903 1.0355
63 ECONOMIC TOTAL EXPENSE RATIO 1.3573 1.2395
ASSETS/LOANS/FINANCIAL RATIOS JANUARY 1 DECEMBER 31 JANUARY 1 DECEMBER 31
64 CURRENT ASSETS 62,162 49,396 77,637 86,464
65 NONCURRENT ASSETS 140,430 137,712 369,366 368,429
66 CURRENT LIABILITIES 27,757 17,260 27,269 40,286
67 NONCURRENT LIABILITIES 60,098 52,676 67,487 78,670
68 CURRENT RATIO 2.24 2.86 2.85 2.15
69 DEBT TO ASSET RATIO .43 .37 .21 .26
%%ISCC CHANGE_OVERLAY SUMMB2003
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, SW
ANALYSIS OF THE FARM BUSINESS
**BY CAPITAL MANAGED *** - 500000 *** *** 500001 - 750000 ***
AVERAGE ASSET & NET WORTH VALUES
70 BREEDING LIVESTOCK 9,403 10,604
71 MACHINERY AND EQUIPMENT 22,619 51,380
72 MOTOR VEHICLES & LISTED PROPERTY 18,176 44,318
73 BUILDINGS 6,383 8,873
74 OWNED LAND 84,821 249,456
75 TOTAL ASSETS 194,850 450,948
76 NET WORTH 115,955 344,092
LABOR
77 NUMBER OF OPERATORS .42 .83
78 NUMBER OF WORKERS .57 1.02
79 TOTAL WORK DAYS 64 116
80 VALUE FARM PRODUCTION/WORKER 97,258 131,389
81 NET FARM INCOME/WORKER 5,847 24,911
PER OPERATOR BASIS
82 TOTAL ASSETS 461,095 537,828
83 VALUE OF FARM PRODUCTION 131,409 160,921
84 NET FARM INCOME 7,900 30,510
OTHER FACTORS
85 % CROP ACRES IRRIGATED 6.30 24.09
86 % TILLABLE LAND 76.37 81.08
87 CROP MACH COST/TOT EXPENSE(%) 34.21 31.79
ACRES TOTAL CNT OWNED CNT RENTED CNT TOTAL CNT OWNED CNT RENTED CNT
88 TOTAL ACRES 601 27 340 21 378 24 857 26 716 20 443 18
89 NON-IRRIGATED CROP ACRES 505 23 252 18 416 17 571 24 500 19 280 15
90 IRRIGATED CROP ACRES 363 12 173 6 368 9
91 TOTAL CROP ACRES 476 26 246 20 374 20 695 26 527 20 442 17
92 PASTURE ACRES 250 15 183 12 174 9 408 10 370 10
93 FARMSTEAD ACRES 8 10 6 7 5 6 15 9 9 7 14 5
CROP VALUE, COSTS, ACRES TOTAL PER CROP ACRE PER HARV.ACRE TOTAL PER CROP ACRE PER HARV.ACRE
94 ACRES 400 176 695 415
95 CROP MACHINERY INVESTMENT 33,149 82.96 187.89 89,964 129.47 216.58
96 CROP MACHINERY COST 17,855 44.69 101.21 34,762 50.03 83.69
97 GROSS CROP VALUE 31,899 69.53 157.48 116,761 168.03 281.10
98 CROP PRODUCTION COSTS 39,213 98.14 222.26 98,362 141.55 236.80
NON-IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
99 CORN
100 GRAIN SORGHUM 9 125 102 67.2 102 63.1 10 111 89 54.6 133 61.0
101 SOYBEANS
102 SUNFLOWERS
103 WHEAT 16 187 110 32.1 163 26.4 18 258 203 26.1 181 35.1
104 OTHER CROPS
105 ALFALFA
106 OTHER HAY & FORAGE 6 68 40 5 88 84
107 VEGETABLES
108 TRUCK CROPS
109 FRUIT - FLOWERS - TREES
IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
110 CORN 6 309 328 208.4
111 GRAIN SORGHUM
112 SOYBEANS
113 SUNFLOWERS
114 WHEAT
115 OTHER CROPS
116 ALFALFA 6 188 129 6.2
117 OTHER HAY & FORAGE
118 VEGETABLES
119 TRUCK CROPS
120 FRUIT - FLOWERS - TREES
AVERAGE LIVESTOCK INVENTORIES AND SALES
121 BEEF COWS 3 2
122 DAIRY COWS
123 EWES
124 SOWS
125 BEEF PURCHASED FOR RESALE SALES 36 23
126 SWINE PURCHASED FOR RESALE SALES
127 TURKEYS
%%ISCC CHANGE_OVERLAY SUMMF2003
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, SW
INCOME AND EXPENSE ANALYSIS
**BY CAPITAL MANAGED *** 750001 - 1000000 *** *** 1000001 - 1375000 ***
26 FARMS 30 FARMS
ITEM PER FARM PER FARM
1 BEEF 16,620 34,251
2 DAIRY AND MILK
3 SHEEP 9 2,496
4 SWINE 3
5 POULTRY AND EGGS 5,140
6 OTHER LIVESTOCK 1,774 759-
7 CUSTOM FEEDING 269 5,307
8 FEED PURCHASED 3,536- 16,320-
9 LIVESTOCK INCOME $15,137 $30,118
10 CORN 32,135 55,926
11 GRAIN SORGHUM 8,735 13,392
12 SOYBEANS 16,278 5,601
13 SUNFLOWERS 1,442 66
14 WHEAT 29,215 27,511
15 HAY AND FORAGE 2,838 14,604
16 OTHER CROP 3,451 784
17 GOVERNMENT PAYMENTS 27,881 27,498
18 CROP INSURANCE PROCEEDS 7,260 14,490
19 OTHER INCOME 12,220 29,908
20 VALUE OF FARM PRODUCTION $156,591 $219,899
21 HIRED LABOR 8,823 9,208
22 MACHINERY REPAIRS 13,223 29,626
23 IRRIGATION REPAIRS 1,999 3,687
24 BUILDING REPAIRS 1,145 676
25 INTEREST PAID 4,364 11,337
26 SEED-OTHER CROP EXPENSE 11,633 11,064
27 CROP INSURANCE 4,594 4,836
28 FERTILIZER-LIME 13,950 13,808
29 MACHINE HIRE 6,809 13,576
30 ORGANIZATION FEE, PUBLICATION 1,879 2,528
31 VET-MED-DRUGS 620 2,145
32 CROP STORAGE-MARKETING 391 708
33 LIVESTOCK MARKETING-BREEDING 252 1,697
34 DAIRY EXPENSE
35 GAS-FUEL-OIL 8,926 14,077
36 IRRIGATION ENERGY 11,814 15,936
37 REAL ESTATE TAXES 3,033 2,813
38 PERSONAL PROPERTY TAXES 564 753
39 GENERAL FARM INSURANCE 2,992 4,375
40 UTILITIES 2,683 4,158
41 CASH FARM RENT 2,860 7,825
42 HERBICIDE-INSECTICIDE 11,602 12,447
43 CONSERVATION 1,732 5
44 AUTO EXPENSE 860 703
45 TOTAL OPERATING EXPENSE $116,747 $167,986
46 DEPRECIATION-MACHINERY 11,649 16,750
47 DEPRECIATION-BUILDINGS 1,192 1,018
48 TOTAL FARM EXPENSE $129,588 $185,754
49 NET FARM INCOME $27,003 $34,146
50 UNPAID FAMILY LABOR 606 3,225
51 UNPAID OPERATOR LABOR 25,235 24,840
52 MANAGEMENT CHARGE 7,548 9,296
53 CURRENT ASSET CHARGE - 8% 7,304 4,768
54 NONCURRENT ASSET CHARGE - 8% 21,019 24,866
55 RETURN LABOR-MANAGEMENT 1,925- 1,286
56 RETURN TO CAPITAL 2,021- 8,122
57 ASSET TURNOVER RATIO .3270 .3783
58 OPERATING PROFIT MARGIN RATIO .0129- .0369
59 % RETURN ON ASSETS .0042- .0140
60 % RETURN ON EQUITY .0180- .0087-
61 TOTAL EXPENSE RATIO .8276 .8447
62 ADJUSTED TOTAL EXPENSE RATIO 1.0408 1.0146
63 ECONOMIC TOTAL EXPENSE RATIO 1.2216 1.1494
ASSETS/LOANS/FINANCIAL RATIOS JANUARY 1 DECEMBER 31 JANUARY 1 DECEMBER 31
64 CURRENT ASSETS 128,145 155,126 142,493 134,669
65 NONCURRENT ASSETS 331,466 342,880 434,471 450,801
66 CURRENT LIABILITIES 44,453 56,219 86,246 71,714
67 NONCURRENT LIABILITIES 75,626 73,256 121,248 142,374
68 CURRENT RATIO 2.88 2.76 1.65 1.88
69 DEBT TO ASSET RATIO .26 .26 .36 .37
%%ISCC CHANGE_OVERLAY SUMMB2003
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, SW
ANALYSIS OF THE FARM BUSINESS
**BY CAPITAL MANAGED *** 750001 - 1000000 *** *** 1000001 - 1375000 ***
AVERAGE ASSET & NET WORTH VALUES
70 BREEDING LIVESTOCK 16,797 24,647
71 MACHINERY AND EQUIPMENT 52,663 68,315
72 MOTOR VEHICLES & LISTED PROPERTY 54,520 74,066
73 BUILDINGS 13,574 10,569
74 OWNED LAND 198,970 270,579
75 TOTAL ASSETS 478,809 581,217
76 NET WORTH 354,032 370,426
LABOR
77 NUMBER OF OPERATORS .93 .92
78 NUMBER OF WORKERS 1.10 1.39
79 TOTAL WORK DAYS 177 213
80 VALUE FARM PRODUCTION/WORKER 141,367 157,822
81 NET FARM INCOME/WORKER 24,378 24,506
PER OPERATOR BASIS
82 TOTAL ASSETS 512,306 631,758
83 VALUE OF FARM PRODUCTION 167,546 239,021
84 NET FARM INCOME 28,892 37,115
OTHER FACTORS
85 % CROP ACRES IRRIGATED 33.79 19.81
86 % TILLABLE LAND 64.11 74.22
87 CROP MACH COST/TOT EXPENSE(%) 33.89 32.90
ACRES TOTAL CNT OWNED CNT RENTED CNT TOTAL CNT OWNED CNT RENTED CNT
88 TOTAL ACRES 1464 26 624 18 1118 24 1882 30 830 24 1305 28
89 NON-IRRIGATED CROP ACRES 702 23 410 17 510 18 1159 29 482 23 866 26
90 IRRIGATED CROP ACRES 458 18 236 9 408 15 437 19 249 11 428 13
91 TOTAL CROP ACRES 938 26 534 17 696 22 1397 30 576 24 1040 27
92 PASTURE ACRES 1337 10 252 8 1419 8 749 19 592 10 594 14
93 FARMSTEAD ACRES 29 10 15 8 23 7 32 10 24 7 30 5
CROP VALUE, COSTS, ACRES TOTAL PER CROP ACRE PER HARV.ACRE TOTAL PER CROP ACRE PER HARV.ACRE
94 ACRES 938 571 1397 866
95 CROP MACHINERY INVESTMENT 100,761 107.39 176.43 128,885 92.27 148.80
96 CROP MACHINERY COST 43,922 46.81 76.91 61,119 43.75 70.57
97 GROSS CROP VALUE 141,532 150.84 247.82 190,553 136.41 220.00
98 CROP PRODUCTION COSTS 124,941 128.04 210.36 148,629 102.85 165.88
NON-IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
99 CORN
100 GRAIN SORGHUM 10 119 65 51.1 89 59.1 16 287 165 52.0 273 52.1
101 SOYBEANS
102 SUNFLOWERS
103 WHEAT 15 347 183 31.2 281 31.9 28 430 211 28.8 363 25.1
104 OTHER CROPS
105 ALFALFA
106 OTHER HAY & FORAGE 10 102 67 88
107 VEGETABLES
108 TRUCK CROPS
109 FRUIT - FLOWERS - TREES
IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
110 CORN 11 192 93 190.4 195 210.8 16 268 202 198.1 261 222.6
111 GRAIN SORGHUM 7 119 87 120.1 121 106.3 5 126
112 SOYBEANS 8 209 167 50.2 167 53.5 5 156 132 57.3
113 SUNFLOWERS
114 WHEAT 12 195 105 29.1 192 44.1 8 129 118 50.8
115 OTHER CROPS
116 ALFALFA 5 226 139 5.9
117 OTHER HAY & FORAGE
118 VEGETABLES
119 TRUCK CROPS
120 FRUIT - FLOWERS - TREES
AVERAGE LIVESTOCK INVENTORIES AND SALES
121 BEEF COWS 21 26
122 DAIRY COWS
123 EWES
124 SOWS
125 BEEF PURCHASED FOR RESALE SALES 13 62
126 SWINE PURCHASED FOR RESALE SALES
127 TURKEYS
%%ISCC CHANGE_OVERLAY SUMMF2003
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, SW
INCOME AND EXPENSE ANALYSIS
**BY CAPITAL MANAGED *** 1375001 - 1750000 *** *** 1750001 - 2125000 ***
34 FARMS 24 FARMS
ITEM PER FARM PER FARM
1 BEEF 45,758 61,843
2 DAIRY AND MILK 8,718
3 SHEEP 9-
4 SWINE
5 POULTRY AND EGGS
6 OTHER LIVESTOCK 2,421- 1,836-
7 CUSTOM FEEDING 1,219 21,071
8 FEED PURCHASED 10,392- 7,185-
9 LIVESTOCK INCOME $42,883 $73,885
10 CORN 72,822 32,518
11 GRAIN SORGHUM 15,819 22,801
12 SOYBEANS 6,436 3,700
13 SUNFLOWERS 1,350
14 WHEAT 59,759 57,938
15 HAY AND FORAGE 8,408 15,822
16 OTHER CROP 872
17 GOVERNMENT PAYMENTS 42,860 40,086
18 CROP INSURANCE PROCEEDS 20,129 12,059
19 OTHER INCOME 12,762 21,754
20 VALUE OF FARM PRODUCTION $282,749 $281,913
21 HIRED LABOR 15,070 23,371
22 MACHINERY REPAIRS 21,798 26,542
23 IRRIGATION REPAIRS 4,636 2,330
24 BUILDING REPAIRS 1,279 1,607
25 INTEREST PAID 11,199 23,699
26 SEED-OTHER CROP EXPENSE 22,444 10,615
27 CROP INSURANCE 7,872 7,415
28 FERTILIZER-LIME 26,440 24,390
29 MACHINE HIRE 21,629 16,017
30 ORGANIZATION FEE, PUBLICATION 3,331 3,140
31 VET-MED-DRUGS 1,914 3,280
32 CROP STORAGE-MARKETING 685 580
33 LIVESTOCK MARKETING-BREEDING 999 2,873
34 DAIRY EXPENSE 82
35 GAS-FUEL-OIL 13,667 17,800
36 IRRIGATION ENERGY 19,469 12,239
37 REAL ESTATE TAXES 4,854 5,522
38 PERSONAL PROPERTY TAXES 864 1,426
39 GENERAL FARM INSURANCE 3,962 5,558
40 UTILITIES 4,118 4,588
41 CASH FARM RENT 11,771 13,608
42 HERBICIDE-INSECTICIDE 19,177 16,538
43 CONSERVATION 14 518
44 AUTO EXPENSE 784 439
45 TOTAL OPERATING EXPENSE $218,060 $224,096
46 DEPRECIATION-MACHINERY 19,402 24,634
47 DEPRECIATION-BUILDINGS 2,271 7,516
48 TOTAL FARM EXPENSE $239,733 $256,247
49 NET FARM INCOME $43,016 $25,667
50 UNPAID FAMILY LABOR 993 656
51 UNPAID OPERATOR LABOR 26,841 31,500
52 MANAGEMENT CHARGE 11,671 10,266
53 CURRENT ASSET CHARGE - 8% 8,586 10,560
54 NONCURRENT ASSET CHARGE - 8% 38,287 42,997
55 RETURN LABOR-MANAGEMENT 4,849- 28,546-
56 RETURN TO CAPITAL 14,710 6,944
57 ASSET TURNOVER RATIO .3572 .2596
58 OPERATING PROFIT MARGIN RATIO .0520 .0246
59 % RETURN ON ASSETS .0186 .0064
60 % RETURN ON EQUITY .0060 .0250-
61 TOTAL EXPENSE RATIO .8479 .9090
62 ADJUSTED TOTAL EXPENSE RATIO .9876 1.0594
63 ECONOMIC TOTAL EXPENSE RATIO 1.1534 1.2494
ASSETS/LOANS/FINANCIAL RATIOS JANUARY 1 DECEMBER 31 JANUARY 1 DECEMBER 31
64 CURRENT ASSETS 200,021 205,205 281,838 281,157
65 NONCURRENT ASSETS 579,503 598,396 803,302 805,896
66 CURRENT LIABILITIES 92,679 97,905 150,333 148,670
67 NONCURRENT LIABILITIES 106,903 113,823 271,208 263,054
68 CURRENT RATIO 2.16 2.10 1.87 1.89
69 DEBT TO ASSET RATIO .26 .26 .39 .38
%%ISCC CHANGE_OVERLAY SUMMB2003
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, SW
ANALYSIS OF THE FARM BUSINESS
**BY CAPITAL MANAGED *** 1375001 - 1750000 *** *** 1750001 - 2125000 ***
AVERAGE ASSET & NET WORTH VALUES
70 BREEDING LIVESTOCK 29,761 21,033
71 MACHINERY AND EQUIPMENT 89,598 109,399
72 MOTOR VEHICLES & LISTED PROPERTY 86,439 101,382
73 BUILDINGS 24,937 72,424
74 OWNED LAND 371,291 450,999
75 TOTAL ASSETS 791,562 1,086,096
76 NET WORTH 585,907 669,464
LABOR
77 NUMBER OF OPERATORS .99 1.16
78 NUMBER OF WORKERS 1.32 1.63
79 TOTAL WORK DAYS 299 325
80 VALUE FARM PRODUCTION/WORKER 212,688 172,600
81 NET FARM INCOME/WORKER 32,357 15,714
PER OPERATOR BASIS
82 TOTAL ASSETS 796,246 930,940
83 VALUE OF FARM PRODUCTION 284,422 241,640
84 NET FARM INCOME 43,271 22,000
OTHER FACTORS
85 % CROP ACRES IRRIGATED 17.49 10.79
86 % TILLABLE LAND 77.50 79.58
87 CROP MACH COST/TOT EXPENSE(%) 35.58 31.84
ACRES TOTAL CNT OWNED CNT RENTED CNT TOTAL CNT OWNED CNT RENTED CNT
88 TOTAL ACRES 2438 34 1050 27 1818 30 3068 24 1387 21 1935 23
89 NON-IRRIGATED CROP ACRES 1606 33 667 25 1253 29 2178 24 822 21 1522 23
90 IRRIGATED CROP ACRES 489 23 260 13 463 17 422 15 336 9 330 10
91 TOTAL CROP ACRES 1947 33 802 25 1473 30 2441 24 966 21 1665 23
92 PASTURE ACRES 1011 18 581 14 1006 10 861 17 666 13 498 12
93 FARMSTEAD ACRES 34 13 18 9 39 7 40 10 20 9 44 5
CROP VALUE, COSTS, ACRES TOTAL PER CROP ACRE PER HARV.ACRE TOTAL PER CROP ACRE PER HARV.ACRE
94 ACRES 1890 1219 2441 1393
95 CROP MACHINERY INVESTMENT 161,646 85.55 132.66 188,108 77.05 135.02
96 CROP MACHINERY COST 85,301 45.14 70.00 81,599 33.42 58.57
97 GROSS CROP VALUE 250,689 132.67 205.73 234,701 96.13 168.47
98 CROP PRODUCTION COSTS 217,426 115.07 178.44 197,117 80.74 141.49
NON-IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
99 CORN
100 GRAIN SORGHUM 26 320 79 61.4 313 55.1 16 384 140 64.7 364 57.4
101 SOYBEANS
102 SUNFLOWERS
103 WHEAT 32 611 264 30.9 510 27.2 24 840 328 26.6 663 27.0
104 OTHER CROPS
105 ALFALFA
106 OTHER HAY & FORAGE 11 69 52 79 5 53 50
107 VEGETABLES
108 TRUCK CROPS
109 FRUIT - FLOWERS - TREES
IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
110 CORN 17 303 140 188.6 337 212.9 6 301
111 GRAIN SORGHUM 5 139 158 125.8 9 145 124 118.7 79 146.7
112 SOYBEANS 8 141 110 56.7 5 45
113 SUNFLOWERS
114 WHEAT 15 201 125 45.3 184 50.1 7 222 198 34.2
115 OTHER CROPS
116 ALFALFA 5 226 5 227 189 4.5
117 OTHER HAY & FORAGE 5 64 7 89 79
118 VEGETABLES
119 TRUCK CROPS
120 FRUIT - FLOWERS - TREES
AVERAGE LIVESTOCK INVENTORIES AND SALES
121 BEEF COWS 17 3
122 DAIRY COWS 4
123 EWES
124 SOWS
125 BEEF PURCHASED FOR RESALE SALES 80 221
126 SWINE PURCHASED FOR RESALE SALES
127 TURKEYS
%%ISCC CHANGE_OVERLAY SUMMF2003
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, SW
INCOME AND EXPENSE ANALYSIS
**BY CAPITAL MANAGED *** 2125001 - 2500000 *** *** 2500001 - ***
11 FARMS 17 FARMS
ITEM PER FARM PER FARM
1 BEEF 42,254 97,266
2 DAIRY AND MILK
3 SHEEP
4 SWINE
5 POULTRY AND EGGS
6 OTHER LIVESTOCK 88-
7 CUSTOM FEEDING 29,680
8 FEED PURCHASED 9,710- 31,025-
9 LIVESTOCK INCOME $32,543 $95,832
10 CORN 42,629 199,772
11 GRAIN SORGHUM 16,704 33,792
12 SOYBEANS 11,677 17,726
13 SUNFLOWERS 964 2,289
14 WHEAT 84,724 76,414
15 HAY AND FORAGE 29,123 29,524
16 OTHER CROP 4,327
17 GOVERNMENT PAYMENTS 45,316 77,987
18 CROP INSURANCE PROCEEDS 19,399 18,796
19 OTHER INCOME 31,849 69,758
20 VALUE OF FARM PRODUCTION $314,929 $626,217
21 HIRED LABOR 19,915 47,490
22 MACHINERY REPAIRS 33,313 38,559
23 IRRIGATION REPAIRS 2,936 10,109
24 BUILDING REPAIRS 2,255 3,369
25 INTEREST PAID 22,861 25,041
26 SEED-OTHER CROP EXPENSE 47,336 51,736
27 CROP INSURANCE 8,486 11,976
28 FERTILIZER-LIME 25,598 60,770
29 MACHINE HIRE 22,824 48,539
30 ORGANIZATION FEE, PUBLICATION 4,328 4,501
31 VET-MED-DRUGS 2,604 6,003
32 CROP STORAGE-MARKETING 6,853 2,430
33 LIVESTOCK MARKETING-BREEDING 760 2,679
34 DAIRY EXPENSE
35 GAS-FUEL-OIL 17,062 34,922
36 IRRIGATION ENERGY 15,467 56,053
37 REAL ESTATE TAXES 5,344 10,340
38 PERSONAL PROPERTY TAXES 2,048 1,385
39 GENERAL FARM INSURANCE 6,350 11,769
40 UTILITIES 5,555 7,117
41 CASH FARM RENT 11,954 13,239
42 HERBICIDE-INSECTICIDE 26,429 45,233
43 CONSERVATION 25 435
44 AUTO EXPENSE 708 680
45 TOTAL OPERATING EXPENSE $291,011 $494,376
46 DEPRECIATION-MACHINERY 21,495 45,325
47 DEPRECIATION-BUILDINGS 2,379 5,264
48 TOTAL FARM EXPENSE $314,886 $544,965
49 NET FARM INCOME $43 $81,252
50 UNPAID FAMILY LABOR 1,636
51 UNPAID OPERATOR LABOR 27,000 30,971
52 MANAGEMENT CHARGE 6,391 22,871
53 CURRENT ASSET CHARGE - 8% 9,823 20,743
54 NONCURRENT ASSET CHARGE - 8% 51,023 82,981
55 RETURN LABOR-MANAGEMENT 62,439- 22,472-
56 RETURN TO CAPITAL 12,123- 52,452
57 ASSET TURNOVER RATIO .2778 .3518
58 OPERATING PROFIT MARGIN RATIO .0385- .0838
59 % RETURN ON ASSETS .0107- .0295
60 % RETURN ON EQUITY .0460- .0211
61 TOTAL EXPENSE RATIO .9999 .8702
62 ADJUSTED TOTAL EXPENSE RATIO 1.1111 .9562
63 ECONOMIC TOTAL EXPENSE RATIO 1.3043 1.1219
ASSETS/LOANS/FINANCIAL RATIOS JANUARY 1 DECEMBER 31 JANUARY 1 DECEMBER 31
64 CURRENT ASSETS 242,947 290,639 444,964 471,218
65 NONCURRENT ASSETS 885,648 847,741 1,292,712 1,351,377
66 CURRENT LIABILITIES 116,587 171,419 196,721 200,885
67 NONCURRENT LIABILITIES 215,857 241,969 277,332 292,227
68 CURRENT RATIO 2.08 1.70 2.26 2.35
69 DEBT TO ASSET RATIO .29 .36 .27 .27
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, SW
ANALYSIS OF THE FARM BUSINESS
**BY CAPITAL MANAGED *** 2125001 - 2500000 *** *** 2500001 - ***
AVERAGE ASSET & NET WORTH VALUES
70 BREEDING LIVESTOCK 66,274 25,767
71 MACHINERY AND EQUIPMENT 117,050 204,955
72 MOTOR VEHICLES & LISTED PROPERTY 103,559 172,010
73 BUILDINGS 26,921 55,820
74 OWNED LAND 584,862 835,457
75 TOTAL ASSETS 1,133,488 1,780,135
76 NET WORTH 760,572 1,296,553
LABOR
77 NUMBER OF OPERATORS 1.00 1.14
78 NUMBER OF WORKERS 1.80 2.55
79 TOTAL WORK DAYS 407 567
80 VALUE FARM PRODUCTION/WORKER 174,961 244,729
81 NET FARM INCOME/WORKER 24 31,754
PER OPERATOR BASIS
82 TOTAL ASSETS 1,133,488 1,551,913
83 VALUE OF FARM PRODUCTION 314,929 545,933
84 NET FARM INCOME 43 70,835
OTHER FACTORS
85 % CROP ACRES IRRIGATED 15.81 25.88
86 % TILLABLE LAND 73.39 80.67
87 CROP MACH COST/TOT EXPENSE(%) 28.38 25.65
ACRES TOTAL CNT OWNED CNT RENTED CNT TOTAL CNT OWNED CNT RENTED CNT
88 TOTAL ACRES 3660 11 1538 9 2641 10 4797 17 2120 16 2976 16
89 NON-IRRIGATED CROP ACRES 2261 11 983 9 1603 10 2868 17 1020 16 2163 15
90 IRRIGATED CROP ACRES 934 5 1547 11 581 7 1178 11
91 TOTAL CROP ACRES 2686 11 1039 9 2019 10 3869 17 1274 16 2837 16
92 PASTURE ACRES 1769 6 889 5 1234 5 2220 7 1915 7
93 FARMSTEAD ACRES 45 5 27 5
CROP VALUE, COSTS, ACRES TOTAL PER CROP ACRE PER HARV.ACRE TOTAL PER CROP ACRE PER HARV.ACRE
94 ACRES 2686 1584 3869 2369
95 CROP MACHINERY INVESTMENT 197,173 73.42 124.49 346,467 89.54 146.26
96 CROP MACHINERY COST 89,368 33.28 56.42 139,795 36.13 59.02
97 GROSS CROP VALUE 243,783 90.77 153.92 547,019 141.37 230.93
98 CROP PRODUCTION COSTS 263,267 98.02 166.22 441,643 114.14 186.44
NON-IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
99 CORN
100 GRAIN SORGHUM 5 431 349 33.2 13 403 286 80.2 321 56.0
101 SOYBEANS
102 SUNFLOWERS
103 WHEAT 11 849 371 25.6 638 19.9 17 938 315 24.0 749 35.2
104 OTHER CROPS
105 ALFALFA
106 OTHER HAY & FORAGE 4 556
107 VEGETABLES
108 TRUCK CROPS
109 FRUIT - FLOWERS - TREES
IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
110 CORN 4 302 8 886 295 206.4 702 208.9
111 GRAIN SORGHUM 9 236 229 117.1
112 SOYBEANS 7 235 203 52.0
113 SUNFLOWERS
114 WHEAT 4 322 322 39.1 9 376 292 53.4
115 OTHER CROPS
116 ALFALFA
117 OTHER HAY & FORAGE
118 VEGETABLES
119 TRUCK CROPS
120 FRUIT - FLOWERS - TREES
AVERAGE LIVESTOCK INVENTORIES AND SALES
121 BEEF COWS 27 27
122 DAIRY COWS
123 EWES
124 SOWS
125 BEEF PURCHASED FOR RESALE SALES 45 315
126 SWINE PURCHASED FOR RESALE SALES
127 TURKEYS
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