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2004 KANSAS FARM MANAGEMENT ASSOCIATION, SW
INCOME AND EXPENSE ANALYSIS
**BY VALUE OF FARM PRODUCTION *** - 100000 *** *** 100001 - 250000 ***
53 FARMS 77 FARMS
ITEM PER FARM PER FARM
1 BEEF 11,358 40,657
2 DAIRY AND MILK 30 6-
3 SHEEP 44 54
4 SWINE 5
5 POULTRY AND EGGS 2,003
6 OTHER LIVESTOCK 30- 606-
7 CUSTOM FEEDING 440 2,163
8 FEED PURCHASED 2,931- 11,043-
9 LIVESTOCK INCOME $8,911 $33,226
10 CORN 1,409 26,657
11 GRAIN SORGHUM 3,508 12,056
12 SOYBEANS 389 5,618
13 SUNFLOWERS 660 528
14 WHEAT 12,363 32,361
15 HAY AND FORAGE 1,723 3,479
16 OTHER CROP 196 2,926
17 GOVERNMENT PAYMENTS 13,807 30,449
18 CROP INSURANCE PROCEEDS 4,056 11,227
19 OTHER INCOME 3,201 10,310
20 VALUE OF FARM PRODUCTION $50,225 $168,838
21 HIRED LABOR 2,168 9,650
22 MACHINERY REPAIRS 5,332 15,110
23 IRRIGATION REPAIRS 645 1,809
24 BUILDING REPAIRS 797 1,141
25 INTEREST PAID 3,257 10,710
26 SEED-OTHER CROP EXPENSE 1,652 8,073
27 CROP INSURANCE 1,759 4,640
28 FERTILIZER-LIME 3,228 13,036
29 MACHINE HIRE 3,984 10,144
30 ORGANIZATION FEE, PUBLICATION 1,447 2,316
31 VET-MED-DRUGS 467 1,850
32 CROP STORAGE-MARKETING 199 1,004
33 LIVESTOCK MARKETING-BREEDING 301 1,460
34 DAIRY EXPENSE 2
35 GAS-FUEL-OIL 3,402 11,427
36 IRRIGATION ENERGY 449 8,198
37 REAL ESTATE TAXES 2,827 4,267
38 PERSONAL PROPERTY TAXES 498 864
39 GENERAL FARM INSURANCE 1,919 4,170
40 UTILITIES 1,949 3,694
41 CASH FARM RENT 1,386 4,895
42 HERBICIDE-INSECTICIDE 2,251 11,857
43 CONSERVATION 30 578
44 AUTO EXPENSE 940 660
45 TOTAL OPERATING EXPENSE $40,890 $131,553
46 DEPRECIATION-MACHINERY 4,451 15,007
47 DEPRECIATION-BUILDINGS 685 1,046
48 TOTAL FARM EXPENSE $46,026 $147,607
49 NET FARM INCOME $4,198 $21,232
50 UNPAID FAMILY LABOR 892 1,490
51 UNPAID OPERATOR LABOR 16,608 25,492
52 MANAGEMENT CHARGE 2,530 7,486
53 CURRENT ASSET CHARGE - 8% 5,129 7,187
54 NONCURRENT ASSET CHARGE - 8% 16,794 33,105
55 RETURN LABOR-MANAGEMENT 18,617- 20,550-
56 RETURN TO CAPITAL 12,574- 2,527-
57 ASSET TURNOVER RATIO .1509 .2366
58 OPERATING PROFIT MARGIN RATIO .2504- .0150-
59 % RETURN ON ASSETS .0378- .0035-
60 % RETURN ON EQUITY .0578- .0263-
61 TOTAL EXPENSE RATIO .9164 .8742
62 ADJUSTED TOTAL EXPENSE RATIO 1.3152 1.0784
63 ECONOMIC TOTAL EXPENSE RATIO 1.7517 1.3170
ASSETS/LOANS/FINANCIAL RATIOS JANUARY 1 DECEMBER 31 JANUARY 1 DECEMBER 31
64 CURRENT ASSETS 78,418 81,296 168,071 166,456
65 NONCURRENT ASSETS 253,449 252,432 543,124 549,336
66 CURRENT LIABILITIES 14,666 16,816 76,808 78,051
67 NONCURRENT LIABILITIES 41,463 44,556 131,026 133,819
68 CURRENT RATIO 5.35 4.83 2.19 2.13
69 DEBT TO ASSET RATIO .17 .18 .29 .30
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, SW
ANALYSIS OF THE FARM BUSINESS
**BY VALUE OF FARM PRODUCTION *** - 100000 *** *** 100001 - 250000 ***
AVERAGE ASSET & NET WORTH VALUES
70 BREEDING LIVESTOCK 7,934 32,719
71 MACHINERY AND EQUIPMENT 22,092 67,047
72 MOTOR VEHICLES & LISTED PROPERTY 30,172 73,385
73 BUILDINGS 7,255 12,101
74 OWNED LAND 180,234 364,050
75 TOTAL ASSETS 332,798 713,494
76 NET WORTH 274,047 503,642
LABOR
77 NUMBER OF OPERATORS .61 .94
78 NUMBER OF WORKERS .72 1.28
79 TOTAL WORK DAYS 98 234
80 VALUE FARM PRODUCTION/WORKER 69,140 131,451
81 NET FARM INCOME/WORKER 5,780 16,530
PER OPERATOR BASIS
82 TOTAL ASSETS 541,052 755,695
83 VALUE OF FARM PRODUCTION 81,654 178,825
84 NET FARM INCOME 6,826 22,487
OTHER FACTORS
85 % CROP ACRES IRRIGATED 3.48 12.43
86 % TILLABLE LAND 77.52 70.53
87 CROP MACH COST/TOT EXPENSE(%) 41.68 37.75
ACRES TOTAL CNT OWNED CNT RENTED CNT TOTAL CNT OWNED CNT RENTED CNT
88 TOTAL ACRES 1009 50 646 39 631 40 2340 76 1076 63 1619 68
89 NON-IRRIGATED CROP ACRES 803 47 475 38 615 32 1547 71 671 59 1152 61
90 IRRIGATED CROP ACRES 170 8 163 5 380 41 214 20 390 29
91 TOTAL CROP ACRES 798 49 490 38 602 34 1673 75 719 61 1236 66
92 PASTURE ACRES 411 27 281 23 309 15 1261 41 712 33 1044 27
93 FARMSTEAD ACRES 17 15 12 12 14 8 26 27 18 21 24 14
CROP VALUE, COSTS, ACRES TOTAL PER CROP ACRE PER HARV.ACRE TOTAL PER CROP ACRE PER HARV.ACRE
94 ACRES 738 299 1629 923
95 CROP MACHINERY INVESTMENT 46,216 62.65 154.44 125,614 77.10 136.11
96 CROP MACHINERY COST 19,184 26.01 64.11 55,719 34.20 60.37
97 GROSS CROP VALUE 41,296 52.81 130.18 155,956 94.48 166.79
98 CROP PRODUCTION COSTS 40,312 54.65 134.71 129,682 78.56 138.69
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 17 178 132 50.8 158 51.3 43 260 110 61.8 238 55.0
101 SOYBEANS
102 SUNFLOWERS
103 WHEAT 35 297 182 30.0 263 27.7 62 637 299 25.2 509 25.3
104 OTHER CROPS
105 ALFALFA 4 47
106 OTHER HAY & FORAGE 12 71 49 77 22 190 71 250
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 30 186 113 189.4 195 213.0
111 GRAIN SORGHUM 14 114 86 122.0 151 118.1
112 SOYBEANS 13 171 161 45.8 143 51.5
113 SUNFLOWERS
114 WHEAT 5 99 21 173 133 36.8 177 47.7
115 OTHER CROPS
116 ALFALFA 10 161 66 3.9 224 4.7
117 OTHER HAY & FORAGE 5 72 54
118 VEGETABLES
119 TRUCK CROPS
120 FRUIT - FLOWERS - TREES
AVERAGE LIVESTOCK INVENTORIES AND SALES
121 BEEF COWS 5 28
122 DAIRY COWS
123 EWES
124 SOWS
125 BEEF PURCHASED FOR RESALE SALES 15 60
126 SWINE PURCHASED FOR RESALE SALES
127 TURKEYS
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, SW
INCOME AND EXPENSE ANALYSIS
**BY VALUE OF FARM PRODUCTION *** 250001 - 500000 *** *** 500001 - ***
52 FARMS 17 FARMS
ITEM PER FARM PER FARM
1 BEEF 61,518 49,800
2 DAIRY AND MILK 5,700
3 SHEEP 1,444
4 SWINE
5 POULTRY AND EGGS
6 OTHER LIVESTOCK 1,073- 58-
7 CUSTOM FEEDING 836 59,427
8 FEED PURCHASED 12,998- 26,068-
9 LIVESTOCK INCOME $55,427 $83,101
10 CORN 65,268 298,517
11 GRAIN SORGHUM 17,880 40,296
12 SOYBEANS 14,029 15,276
13 SUNFLOWERS 827 2,405
14 WHEAT 58,647 102,626
15 HAY AND FORAGE 24,846 51,415
16 OTHER CROP 253 4,992
17 GOVERNMENT PAYMENTS 42,522 78,292
18 CROP INSURANCE PROCEEDS 22,256 16,304
19 OTHER INCOME 27,869 105,239
20 VALUE OF FARM PRODUCTION $329,825 $798,463
21 HIRED LABOR 21,931 44,914
22 MACHINERY REPAIRS 29,066 68,302
23 IRRIGATION REPAIRS 5,036 13,336
24 BUILDING REPAIRS 1,665 2,496
25 INTEREST PAID 17,065 30,263
26 SEED-OTHER CROP EXPENSE 19,651 92,146
27 CROP INSURANCE 8,396 15,552
28 FERTILIZER-LIME 27,837 79,770
29 MACHINE HIRE 18,971 72,180
30 ORGANIZATION FEE, PUBLICATION 3,722 4,874
31 VET-MED-DRUGS 2,585 5,705
32 CROP STORAGE-MARKETING 417 5,440
33 LIVESTOCK MARKETING-BREEDING 1,787 607
34 DAIRY EXPENSE 53
35 GAS-FUEL-OIL 17,879 32,918
36 IRRIGATION ENERGY 20,698 87,418
37 REAL ESTATE TAXES 5,242 6,791
38 PERSONAL PROPERTY TAXES 1,125 2,257
39 GENERAL FARM INSURANCE 5,950 11,506
40 UTILITIES 4,379 8,121
41 CASH FARM RENT 12,266 26,801
42 HERBICIDE-INSECTICIDE 21,257 54,018
43 CONSERVATION 292 272
44 AUTO EXPENSE 831 876
45 TOTAL OPERATING EXPENSE $248,103 $666,563
46 DEPRECIATION-MACHINERY 24,437 44,994
47 DEPRECIATION-BUILDINGS 2,450 13,577
48 TOTAL FARM EXPENSE $274,990 $725,134
49 NET FARM INCOME $54,835 $73,330
50 UNPAID FAMILY LABOR 1,255 397
51 UNPAID OPERATOR LABOR 28,454 30,176
52 MANAGEMENT CHARGE 14,413 20,107
53 CURRENT ASSET CHARGE - 8% 11,729 5,103
54 NONCURRENT ASSET CHARGE - 8% 39,471 54,516
55 RETURN LABOR-MANAGEMENT 2,380 13,313
56 RETURN TO CAPITAL 27,779 52,911
57 ASSET TURNOVER RATIO .3560 .6004
58 OPERATING PROFIT MARGIN RATIO .0842 .0663
59 % RETURN ON ASSETS .0300 .0398
60 % RETURN ON EQUITY .0167 .0304
61 TOTAL EXPENSE RATIO .8337 .9082
62 ADJUSTED TOTAL EXPENSE RATIO .9675 .9716
63 ECONOMIC TOTAL EXPENSE RATIO 1.1228 1.0463
ASSETS/LOANS/FINANCIAL RATIOS JANUARY 1 DECEMBER 31 JANUARY 1 DECEMBER 31
64 CURRENT ASSETS 257,652 272,122 285,777 324,059
65 NONCURRENT ASSETS 656,967 666,183 993,763 1,056,081
66 CURRENT LIABILITIES 118,867 117,676 225,047 257,219
67 NONCURRENT LIABILITIES 167,757 168,614 320,253 366,684
68 CURRENT RATIO 2.17 2.31 1.27 1.26
69 DEBT TO ASSET RATIO .31 .31 .43 .45
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, SW
ANALYSIS OF THE FARM BUSINESS
**BY VALUE OF FARM PRODUCTION *** 250001 - 500000 *** *** 500001 - ***
AVERAGE ASSET & NET WORTH VALUES
70 BREEDING LIVESTOCK 24,260 13,274
71 MACHINERY AND EQUIPMENT 109,215 228,632
72 MOTOR VEHICLES & LISTED PROPERTY 96,146 149,485
73 BUILDINGS 27,861 127,326
74 OWNED LAND 399,057 479,695
75 TOTAL ASSETS 926,462 1,329,840
76 NET WORTH 640,005 745,238
LABOR
77 NUMBER OF OPERATORS 1.05 1.11
78 NUMBER OF WORKERS 1.61 2.43
79 TOTAL WORK DAYS 316 496
80 VALUE FARM PRODUCTION/WORKER 204,420 327,871
81 NET FARM INCOME/WORKER 33,986 30,111
PER OPERATOR BASIS
82 TOTAL ASSETS 879,125 1,189,857
83 VALUE OF FARM PRODUCTION 312,972 714,414
84 NET FARM INCOME 52,033 65,611
OTHER FACTORS
85 % CROP ACRES IRRIGATED 22.34 44.23
86 % TILLABLE LAND 76.69 97.16
87 CROP MACH COST/TOT EXPENSE(%) 32.39 22.00
ACRES TOTAL CNT OWNED CNT RENTED CNT TOTAL CNT OWNED CNT RENTED CNT
88 TOTAL ACRES 2581 52 1213 43 1675 49 2871 17 1159 11 2254 16
89 NON-IRRIGATED CROP ACRES 1599 50 649 41 1185 45 1653 16 690 10 1303 15
90 IRRIGATED CROP ACRES 547 42 278 25 486 33 1311 16 546 10 1035 15
91 TOTAL CROP ACRES 1979 52 800 42 1415 49 2790 17 1124 11 2192 16
92 PASTURE ACRES 1020 30 866 21 620 20
93 FARMSTEAD ACRES 31 22 19 19 30 11 49 7 47 6
CROP VALUE, COSTS, ACRES TOTAL PER CROP ACRE PER HARV.ACRE TOTAL PER CROP ACRE PER HARV.ACRE
94 ACRES 1979 1290 2790 2098
95 CROP MACHINERY INVESTMENT 188,325 95.14 145.99 353,399 126.67 168.48
96 CROP MACHINERY COST 89,079 45.00 69.06 159,517 57.18 76.05
97 GROSS CROP VALUE 289,089 146.04 224.11 616,507 220.97 293.91
98 CROP PRODUCTION COSTS 234,603 116.24 178.37 575,109 206.14 274.18
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 33 309 102 66.1 317 53.0 12 451 358 65.8 330 67.2
101 SOYBEANS
102 SUNFLOWERS
103 WHEAT 48 634 264 30.5 500 29.1 16 596 189 28.1 535 35.8
104 OTHER CROPS
105 ALFALFA 5 212 123 2.8
106 OTHER HAY & FORAGE 13 61 45 60
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 28 338 190 195.5 360 207.4 11 796 335 203.3 643 212.1
111 GRAIN SORGHUM 14 136 126 111.2 102 114.0 10 263 209 132.4 230 132.1
112 SOYBEANS 18 165 94 46.9 154 52.6 6 253 242 55.7
113 SUNFLOWERS
114 WHEAT 22 218 152 42.2 182 51.7 11 391 322 53.3
115 OTHER CROPS
116 ALFALFA 11 266 177 6.0 189 5.2 5 353 235 6.8 207 5.4
117 OTHER HAY & FORAGE 13 104 94 99
118 VEGETABLES
119 TRUCK CROPS
120 FRUIT - FLOWERS - TREES
AVERAGE LIVESTOCK INVENTORIES AND SALES
121 BEEF COWS 8
122 DAIRY COWS 3
123 EWES
124 SOWS
125 BEEF PURCHASED FOR RESALE SALES 150 269
126 SWINE PURCHASED FOR RESALE SALES
127 TURKEYS
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