South
East Area Reports for 1999
S.E. Minnesota FBM
Type Of Farm Report, 1999
Average For Crop and Crop and Crop and
All Farms Crop Dairy Hog Dairy Hog Beef Other
Number of farms 383 61 91 21 32 35 13 129
Income Statement
Gross cash farm income 332266 245531 430120 798419 295619 397313 178883 236465
Total cash farm expense 265139 196425 330214 720698 224675 311561 142460 188528
Net cash farm income 67127 49106 99906 77721 70944 85752 36423 47936
Inventory change 8780 -7388 11089 50308 -5365 14528 1885 10627
Depreciation and capital adjustment -21994 -20165 -32077 -30727 -21530 -24122 -15863 -14579
Net farm income 53913 21553 78919 97302 44049 76159 22445 43984
Profitability (cost)
Labor and management earnings 36451 5000 63301 71616 23056 51917 6120 28962
Rate of return on assets 8 % 4 % 11 % 11 % 5 % 10 % 4 % 8 %
Rate of return on equity 9 % -0 % 17 % 15 % 4 % 11 % 2 % 8 %
Operating profit margin 19 % 9 % 23 % 26 % 13 % 24 % 16 % 19 %
Asset turnover rate 43 % 39 % 49 % 42 % 42 % 40 % 27 % 43 %
Profitability (market)
Labor and management earnings 45841 47023 62941 74757 31028 65371 12822 30318
Rate of return on assets 8 % 9 % 10 % 10 % 5 % 10 % 5 % 7 %
Rate of return on equity 11 % 12 % 15 % 15 % 6 % 14 % 4 % 8 %
Operating profit margin 25 % 32 % 24 % 27 % 18 % 29 % 22 % 22 %
Asset turnover rate 34 % 28 % 42 % 37 % 29 % 34 % 22 % 31 %
Liquidity
Term debt coverage ratio 171 % 136 % 195 % 224 % 138 % 175 % 117 % 156 %
Expense as a percent of income 78 % 82 % 74 % 85 % 77 % 75 % 79 % 76 %
Interest as a percent of income 7 % 10 % 7 % 5 % 7 % 7 % 11 % 8 %
Solvency (cost)
Number of sole proprietors 308 55 72 16 19 33 12 100
Ending farm assets 621029 561586 705748 841018 534747 780822 568442 527274
Ending farm liabilities 329768 286764 428245 453533 331881 364590 280959 259734
Ending total assets 743266 724035 785684 953469 636155 922515 709709 654570
Ending total liabilities 341875 300992 436759 458421 334224 371885 289851 278366
Ending net worth 401391 423043 348925 495048 301931 550629 419858 376204
Net worth change 33668 19822 47526 47014 9511 33517 26653 34494
Ending farm debt to asset ratio 53 % 51 % 61 % 54 % 62 % 47 % 49 % 49 %
Beg total debt to asset ratio 48 % 42 % 59 % 52 % 54 % 42 % 42 % 43 %
End total debt to asset ratio 46 % 42 % 56 % 48 % 53 % 40 % 41 % 43 %
Solvency (market)
Number of sole proprietors 315 56 74 16 19 33 12 104
Ending farm assets 785794 828267 823453 980825 771493 943365 692233 670901
Ending farm liabilities 397920 375532 482718 506454 429969 441289 352683 322136
Ending total assets 916209 994697 905616 1110070 887510 1100218 856202 806789
Ending total liabilities 419581 407572 496534 515038 439715 465196 367342 348281
Ending net worth 496629 587124 409081 595031 447795 635022 488860 458508
Net worth change 51939 72755 53910 60287 26551 55721 40967 42775
Ending farm debt to asset ratio 51 % 45 % 59 % 52 % 56 % 47 % 51 % 48 %
Beg total debt to asset ratio 48 % 43 % 58 % 50 % 51 % 44 % 45 % 44 %
End total debt to asset ratio 46 % 41 % 55 % 46 % 50 % 42 % 43 % 43 %
Nonfarm Information
Farms reporting living expenses 222 40 51 9 17 24 6 75
Total family living expense 26263 27226 27644 22772 26316 26312 19743 25724
Total living, invest, & capital purch 45583 52479 49535 35723 34319 50347 44907 41484
Net nonfarm income 20447 28812 10191 39156 9507 14528 26675 24416
Crop Acres
Total acres owned 227 246 173 182 315 269 261 225
Total crop acres 476 701 252 390 478 646 426 501
Total crop acres owned 186 221 124 150 270 238 183 186
Total crop acres cash rented 267 447 122 217 209 370 238 283
Total crop acres share rented 23 33 7 23 - 38 5 32
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