Southwest KFMA
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       2005 DATA - SW KANSAS  
       INCOME AND EXPENSE ANALYSIS  
       SORTED BY VALUE OF FARM PRODUCTION                    < 100,001                        100,001 - 250,000   
                                                         27 FARMS                                  56 FARMS 
      
             ITEM                                        PER FARM                                  PER FARM 
      
        1  BEEF                                            14,634                                    32,027 
        2  DAIRY AND MILK                                     -65 
        3  SHEEP                                               52                                         8 
        4  SWINE                                                                                        -18 
        5  POULTRY AND EGGS   
        6  OTHER LIVESTOCK                                    183                                     2,216 
        7  CUSTOM FEEDING                                   3,643                                       132 
        8  FEED PURCHASED                                  -6,638                                    -6,492 
        9     LIVESTOCK INCOME                       $     11,809                              $     27,872 
      
       10  CORN                                             1,678                                    11,234 
       11  GRAIN SORGHUM                                    3,852                                    14,551 
       12  SOYBEANS                                           802                                     5,703 
       13  SUNFLOWERS                                                                                   355 
       14  WHEAT                                           17,056                                    54,702 
       15  HAY AND FORAGE                                     670                                     4,143 
       16  OTHER CROP                                          -9                                       380 
       17  GOVERNMENT PAYMENTS                             15,478                                    42,636 
       18  CROP INSURANCE PROCEEDS                          1,386                                     6,120 
       19  OTHER INCOME                                     1,873                                     7,555 
       20     VALUE OF FARM PRODUCTION               $     54,595                              $    175,250 
      
       21  HIRED LABOR                                      2,839                                     8,660 
       22  MACHINERY REPAIRS                                5,801                                    17,927 
       23  IRRIGATION REPAIRS                                 310                                     1,158 
       24  BUILDING REPAIRS                                   744                                       845 
       25  INTEREST PAID                                    3,481                                     9,867 
       26  SEED-OTHER CROP EXPENSE                          1,349                                     6,639 
       27  CROP INSURANCE                                   1,565                                     5,303 
       28  FERTILIZER-LIME                                  3,459                                    16,550 
       29  MACHINE HIRE                                     3,214                                    15,066 
       30  ORGANIZATION FEE, PUBLICATION                    1,090                                     2,835 
       31  VET-MED-DRUGS                                    1,303                                     1,788 
       32  CROP STORAGE-MARKETING                             202                                       862 
       33  LIVESTOCK MARKETING-BREEDING                       786                                       612 
       34  DAIRY EXPENSE                                        4 
       35  GAS-FUEL-OIL                                     4,830                                    13,527 
       36  IRRIGATION ENERGY                                  219                                     6,350 
       37  REAL ESTATE TAXES                                2,415                                     4,404 
       38  PERSONAL PROPERTY TAXES                            483                                       895 
       39  GENERAL FARM INSURANCE                           1,738                                     3,871 
       40  UTILITIES                                        1,738                                     3,736 
       41  CASH FARM RENT                                   1,953                                     7,153 
       42  HERBICIDE-INSECTICIDE                            3,143                                    14,142 
       43  CONSERVATION                                         6                                        89 
       44  AUTO EXPENSE                                     1,324                                       848 
       45     TOTAL OPERATING EXPENSE                $     43,993                              $    143,125 
      
       46  DEPRECIATION-MACHINERY                           4,287                                    12,664 
       47  DEPRECIATION-BUILDINGS                             364                                       853 
       48     TOTAL FARM EXPENSE                     $     48,644                              $    156,642 
      
       49     NET FARM INCOME                        $      5,951                              $     18,608 
      
       50  UNPAID FAMILY LABOR                              1,167                                       884 
       51  UNPAID OPERATOR LABOR                           22,100                                    25,891 
       52  MANAGEMENT CHARGE                                3,146                                     7,274 
       53  CURRENT ASSET CHARGE - 8%                        3,081                                    10,632 
       54  NONCURRENT ASSET CHARGE - 8%                    26,741                                    39,334 
       55  RETURN LABOR-MANAGEMENT                        -25,038                                   -32,241 
       56  RETURN TO CAPITAL                              -16,980                                    -5,574 
       57  ASSET TURNOVER RATIO                             .1267                                     .2215 
       58  OPERATING PROFIT MARGIN RATIO                   -.3110                                    -.0318 
       59  % RETURN ON ASSETS                              -.0394                                    -.0070 
       60  % RETURN ON EQUITY                              -.0549                                    -.0247 
       61  TOTAL EXPENSE RATIO                              .8910                                     .8938 
       62  ADJUSTED TOTAL EXPENSE RATIO                    1.3748                                    1.0881 
       63  ECONOMIC TOTAL EXPENSE RATIO                    1.9210                                    1.3732 
      
       ASSETS/LOANS/FINANCIAL RATIOS             JANUARY 1           DECEMBER 31           JANUARY 1           DECEMBER 31    
      
       64  CURRENT ASSETS                           57,215                65,150             201,954               212,088    
       65  NONCURRENT ASSETS                       366,337               372,768             570,454               597,622    
       66  CURRENT LIABILITIES                      21,661                23,677              69,657                78,596    
       67  NONCURRENT LIABILITIES                   37,511                33,072              89,802                94,919    
       68  CURRENT RATIO                              2.64                  2.75                2.90                  2.70    
       69  DEBT TO ASSET RATIO                         .14                   .13                 .21                   .21    
      
       2005 DATA - SW KANSAS  
       ANALYSIS OF THE FARM BUSINESS
       SORTED BY VALUE OF FARM PRODUCTION                    < 100,001                        100,001 - 250,000   
      
       AVERAGE ASSET & NET WORTH VALUES   
       70  BREEDING LIVESTOCK                               8,806                                    44,182 
       71  MACHINERY AND EQUIPMENT                         19,760                                    53,869 
       72  MOTOR VEHICLES & LISTED PROPE                   35,715                                    71,171 
       73  BUILDINGS                                        5,229                                     9,825 
       74  OWNED LAND                                     290,972                                   417,808 
       75  TOTAL ASSETS                                   430,735                                   791,060 
       76  NET WORTH                                      372,774                                   624,573 
      
       LABOR
       77  NUMBER OF OPERATORS                                .81                                       .95 
       78  NUMBER OF WORKERS                                  .98                                      1.27 
       79  TOTAL WORK DAYS                                     86                                       225 
       80  VALUE FARM PRODUCTION/WORKER                    55,209                                   137,644 
       81  NET FARM INCOME/WORKER                           6,018                                    14,615 
      
       PER OPERATOR BASIS     
       82  TOTAL ASSETS                                   526,237                                   824,941 
       83  VALUE OF FARM PRODUCTION                        66,700                                   182,756 
       84  NET FARM INCOME                                  7,270                                    19,405 
      
       OTHER FACTORS    
       85  % CROP ACRES IRRIGATED                            6.29                                      7.95 
       86  % TILLABLE LAND                                  77.75                                     66.87 
       87  CROP MACH COST/TOT EXPENSE(%)                    40.19                                     36.02 
      
       ACRES                              TOTAL   CNT   OWNED  CNT  RENTED  CNT      TOTAL   CNT   OWNED  CNT  RENTED  CNT    
       88  TOTAL ACRES                     1028    27    787    22    523    20       2547    56   1123    50   1662    52    
       89  NON-IRRIGATED CROP ACRES         749    27    538    22    559    15       1656    53    607    48   1248    47    
       90  IRRIGATED CROP ACRES             272     5                                  330    23    235    14    330    13    
       91  TOTAL CROP ACRES                 800    27    580    22    589    15       1734    55    676    48   1259    50    
       92  PASTURE ACRES                    337    16    338    13    144     7       1308    36    944    25   1068    22    
       93  FARMSTEAD ACRES                   78    10     16    10                      11    14     10    14     
      
       CROP VALUE, COSTS, ACRES              TOTAL    PER CROP ACRE PER HARV.ACRE      TOTAL     PER CROP ACRE  PER HARV.ACRE 
       94  ACRES                                           800           363                        1703           999  
       95  CROP MACHINERY INVESTMENT           49,893         62.40        137.30        107,799         63.30        107.88  
       96  CROP MACHINERY COST                 19,550         24.45         53.80         56,418         33.13         56.46  
       97  GROSS CROP VALUE                    83,753        104.74        230.49        188,379        110.61        188.53  
       98  CROP PRODUCTION COSTS               39,766         49.73        109.44        130,020         74.98        127.80  
      
       NON-IRRIGATED ACRES                       AVE.     OWNED         RENTED             AVE.      OWNED        RENTED
                                          CNT   ACRES  ACRES  YIELD  ACRES  YIELD    CNT   ACRES  ACRES  YIELD  ACRES  YIELD  
       99  CORN                                                                        6     95                  105    48.8  
      100  GRAIN SORGHUM                    9    150    100    73.6   150    93.9     31    274    166    68.1   239    62.5  
      101  SOYBEANS     
      102  SUNFLOWERS   
      103  WHEAT                           21    280    178    37.7   242    37.8     50    718    252    36.7   586    36.3  
      104  OTHER CROPS  
      105  ALFALFA                          4     45     40     3.8     
      106  OTHER HAY & FORAGE              11     67     48            74             15    211     80           298    
      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                                                                        8    196    169   174.5   223   189.9  
      111  GRAIN SORGHUM                                                               7     92     86   104.8    
      112  SOYBEANS                                                                    7    209                  149    52.0  
      113  SUNFLOWERS   
      114  WHEAT                            4    128                                  10    253    212    43.3   244    49.4  
      115  OTHER CROPS  
      116  ALFALFA                                                                     7    115     71     4.3    
      117  OTHER HAY & FORAGE                                                          4     47     42
      118  VEGETABLES   
      119  TRUCK CROPS  
      120  FRUIT - FLOWERS - TREES  
      
       AVERAGE LIVESTOCK INVENTORIES AND SALES  
      121  BEEF COWS                                            4                                        28 
      122  DAIRY COWS   
      123  EWES   
      124  SOWS   
      125  BEEF PURCH. FOR RESALE SALES                        41                                        48 
      126  SWINE PURCH. FOR RESALE SALES  
      127  TURKEYS
      
      
       2005 DATA - SW KANSAS  
       INCOME AND EXPENSE ANALYSIS  
       SORTED BY VALUE OF FARM PRODUCTION            250,001 - 500,000                                > 500,001   
                                                         23 FARMS                                  15 FARMS 
      
             ITEM                                        PER FARM                                  PER FARM 
      
        1  BEEF                                            80,663                                   103,123 
        2  DAIRY AND MILK                                  10,493 
        3  SHEEP                                            8,345 
        4  SWINE  
        5  POULTRY AND EGGS   
        6  OTHER LIVESTOCK                                 -2,687                                   -17,695 
        7  CUSTOM FEEDING                                                                            54,172 
        8  FEED PURCHASED                                 -20,371                                   -49,963 
        9     LIVESTOCK INCOME                       $     76,443                              $     89,637 
      
       10  CORN                                            33,594                                   167,669 
       11  GRAIN SORGHUM                                   22,945                                    33,338 
       12  SOYBEANS                                        10,192                                    30,758 
       13  SUNFLOWERS   
       14  WHEAT                                           73,939                                   150,296 
       15  HAY AND FORAGE                                  12,621                                    23,791 
       16  OTHER CROP                                         409                                    49,662 
       17  GOVERNMENT PAYMENTS                             66,664                                   145,341 
       18  CROP INSURANCE PROCEEDS                         11,036                                    20,211 
       19  OTHER INCOME                                    18,884                                    98,572 
       20     VALUE OF FARM PRODUCTION               $    326,729                              $    809,277 
      
       21  HIRED LABOR                                     26,951                                    70,649 
       22  MACHINERY REPAIRS                               30,866                                    54,997 
       23  IRRIGATION REPAIRS                               3,199                                    15,074 
       24  BUILDING REPAIRS                                 2,601                                     6,352 
       25  INTEREST PAID                                   20,049                                    36,881 
       26  SEED-OTHER CROP EXPENSE                         16,450                                    45,617 
       27  CROP INSURANCE                                  10,113                                    10,139 
       28  FERTILIZER-LIME                                 35,284                                    84,859 
       29  MACHINE HIRE                                    17,946                                    96,823 
       30  ORGANIZATION FEE, PUBLICATION                    4,167                                     8,862 
       31  VET-MED-DRUGS                                    5,153                                    13,615 
       32  CROP STORAGE-MARKETING                               3                                    12,950 
       33  LIVESTOCK MARKETING-BREEDING                     3,321                                     1,279 
       34  DAIRY EXPENSE                                      121 
       35  GAS-FUEL-OIL                                    27,289                                    43,877 
       36  IRRIGATION ENERGY                               14,598                                    56,613 
       37  REAL ESTATE TAXES                                7,688                                    11,508 
       38  PERSONAL PROPERTY TAXES                          1,950                                     2,597 
       39  GENERAL FARM INSURANCE                           6,326                                    11,363 
       40  UTILITIES                                        6,831                                    10,322 
       41  CASH FARM RENT                                  10,722                                    34,184 
       42  HERBICIDE-INSECTICIDE                           24,834                                    63,258 
       43  CONSERVATION                                       438                                     1,182 
       44  AUTO EXPENSE                                       580                                     1,339 
       45     TOTAL OPERATING EXPENSE                $    277,478                              $    694,341 
      
       46  DEPRECIATION-MACHINERY                          23,131                                    49,288 
       47  DEPRECIATION-BUILDINGS                           2,466                                     4,556 
       48     TOTAL FARM EXPENSE                     $    303,076                              $    748,185 
      
       49     NET FARM INCOME                        $     23,653                              $     61,092 
      
       50  UNPAID FAMILY LABOR                              1,174 
       51  UNPAID OPERATOR LABOR                           28,761                                    32,400 
       52  MANAGEMENT CHARGE                               10,433                                    20,107 
       53  CURRENT ASSET CHARGE - 8%                       14,111                                    11,014 
       54  NONCURRENT ASSET CHARGE - 8%                    67,431                                    84,716 
       55  RETURN LABOR-MANAGEMENT                        -59,063                                   -34,639 
       56  RETURN TO CAPITAL                                3,335                                    45,467 
       57  ASSET TURNOVER RATIO                             .2350                                     .4447 
       58  OPERATING PROFIT MARGIN RATIO                    .0102                                     .0562 
       59  % RETURN ON ASSETS                               .0024                                     .0250 
       60  % RETURN ON EQUITY                              -.0164                                     .0072 
       61  TOTAL EXPENSE RATIO                              .9276                                     .9245 
       62  ADJUSTED TOTAL EXPENSE RATIO                    1.0512                                     .9894 
       63  ECONOMIC TOTAL EXPENSE RATIO                    1.3007                                    1.1077 
      
       ASSETS/LOANS/FINANCIAL RATIOS             JANUARY 1           DECEMBER 31           JANUARY 1           DECEMBER 31    
      
       64  CURRENT ASSETS                          336,819               357,344             389,461               484,098    
       65  NONCURRENT ASSETS                     1,030,232             1,055,738           1,346,292             1,419,666    
       66  CURRENT LIABILITIES                     162,270               179,124             255,341               342,862    
       67  NONCURRENT LIABILITIES                  201,683               198,506             292,848               355,202    
       68  CURRENT RATIO                              2.08                  1.99                1.53                  1.41    
       69  DEBT TO ASSET RATIO                         .27                   .27                 .32                   .37    
      
       2005 DATA - SW KANSAS  
       ANALYSIS OF THE FARM BUSINESS
       SORTED BY VALUE OF FARM PRODUCTION            250,001 - 500,000                                > 500,001   
      
       AVERAGE ASSET & NET WORTH VALUES   
       70  BREEDING LIVESTOCK                              23,807                                    40,300 
       71  MACHINERY AND EQUIPMENT                        122,285                                   227,866 
       72  MOTOR VEHICLES & LISTED PROPE                  109,521                                   200,843 
       73  BUILDINGS                                       27,385                                    58,744 
       74  OWNED LAND                                     747,525                                   845,438 
       75  TOTAL ASSETS                                 1,390,066                                 1,819,759 
       76  NET WORTH                                    1,019,275                                 1,196,632 
      
       LABOR
       77  NUMBER OF OPERATORS                               1.06                                      1.20 
       78  NUMBER OF WORKERS                                 1.76                                      2.90 
       79  TOTAL WORK DAYS                                    306                                       499 
       80  VALUE FARM PRODUCTION/WORKER                   184,638                                   279,061 
       81  NET FARM INCOME/WORKER                          13,367                                    21,066 
      
       PER OPERATOR BASIS     
       82  TOTAL ASSETS                                 1,304,960                                 1,516,466 
       83  VALUE OF FARM PRODUCTION                       306,725                                   674,397 
       84  NET FARM INCOME                                 22,205                                    50,910 
      
       OTHER FACTORS    
       85  % CROP ACRES IRRIGATED                           16.01                                     32.38 
       86  % TILLABLE LAND                                  73.27                                     87.03 
       87  CROP MACH COST/TOT EXPENSE(%)                    32.70                                     27.15 
      
       ACRES                              TOTAL   CNT   OWNED  CNT  RENTED  CNT      TOTAL   CNT   OWNED  CNT  RENTED  CNT    
       88  TOTAL ACRES                     2965    23   1714    22   1452    21       3756    15   1759    13   2790    12    
       89  NON-IRRIGATED CROP ACRES        1825    23    958    22   1045    20       2210    15   1083    13   1734    11    
       90  IRRIGATED CROP ACRES             421    19    222    10    385    15       1221    13    475    12   1018    10    
       91  TOTAL CROP ACRES                2173    23   1059    22   1270    21       3269    15   1521    13   2438    12    
       92  PASTURE ACRES                   1299    14   1199    12    543     7       1432     5
       93  FARMSTEAD ACRES                    7     5                                   25     6     22     5     
      
       CROP VALUE, COSTS, ACRES              TOTAL    PER CROP ACRE PER HARV.ACRE      TOTAL     PER CROP ACRE  PER HARV.ACRE 
       94  ACRES                                          2173          1452                        3269          2209  
       95  CROP MACHINERY INVESTMENT          202,102         93.01        139.20        385,021        117.78        174.27  
       96  CROP MACHINERY COST                 99,116         45.62         68.27        203,144         62.14         91.95  
       97  GROSS CROP VALUE                   329,936        151.85        227.24        650,045        198.85        294.23  
       98  CROP PRODUCTION COSTS              256,035        117.83        176.34        608,129        186.03        275.26  
      
       NON-IRRIGATED ACRES                       AVE.     OWNED         RENTED             AVE.      OWNED        RENTED
                                          CNT   ACRES  ACRES  YIELD  ACRES  YIELD    CNT   ACRES  ACRES  YIELD  ACRES  YIELD  
       99  CORN                             4    204  
      100  GRAIN SORGHUM                   15    290    177    66.1   235    61.3     11    349    222    67.5   343    75.4  
      101  SOYBEANS     
      102  SUNFLOWERS   
      103  WHEAT                           23    708    306    37.8   531    38.8     14   1028    570    42.9   738    44.3  
      104  OTHER CROPS  
      105  ALFALFA
      106  OTHER HAY & FORAGE               9    334    441            91              4     40 
      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                            12    251    146   151.8   237   185.1      9    678    284   175.3   733   188.5  
      111  GRAIN SORGHUM                    9    150                  130   116.1      6    207    128    96.7   182   106.8  
      112  SOYBEANS                         8    132                  132    52.8      6    289    212    60.5    
      113  SUNFLOWERS   
      114  WHEAT                            8    154                  124    49.0      9    252    191    49.1   225    61.8  
      115  OTHER CROPS  
      116  ALFALFA                          4    261  
      117  OTHER HAY & FORAGE               7     73     63            64     
      118  VEGETABLES   
      119  TRUCK CROPS  
      120  FRUIT - FLOWERS - TREES  
      
       AVERAGE LIVESTOCK INVENTORIES AND SALES  
      121  BEEF COWS                                            4                                         3 
      122  DAIRY COWS   
      123  EWES   
      124  SOWS   
      125  BEEF PURCH. FOR RESALE SALES                       205                                       167 
      126  SWINE PURCH. FOR RESALE SALES  
      127  TURKEYS