Farm Business Management -- Reports -- Minnesota STATEWIDE

	Avg. Of
	All Farms		Low 20%		20 - 40%		40 - 60%		60 - 80%		High 20%

Number of farms	2292		458		459		458		459		458

	Beginning	Ending	Beginning	Ending	Beginning	Ending	Beginning	Ending	Beginning	Ending	Beginning	Ending
Assets
Current Farm Assets
Cash and checking balance	6,917	6,572	4,275	2,088	5,373	5,150	4,064	3,790	7,323	7,717	13,552	14,114
Prepaid expenses & supplies	16,077	18,886	6,348	5,942	6,933	7,020	11,399	12,579	19,075	20,255	36,643	48,655
Growing crops	381	376	167	166	192	162	130	98	275	234	1,142	1,223
Accounts receivable	11,437	14,505	6,005	7,266	5,340	5,431	6,665	7,894	9,673	12,473	29,520	39,484
Hedging accounts	609	724	136	197	317	189	492	520	690	688	1,408	2,029
Crops held for sale or feed	86,697	100,125	48,562	44,906	48,020	50,477	71,240	76,715	96,307	111,891	169,419	216,721
Crops under government loan	4,932	4,659	4,680	4,377	4,384	3,827	3,632	4,682	4,398	4,250	7,571	6,163
Market livestock held for sale	26,620	30,222	17,890	19,923	13,192	13,956	20,007	23,352	24,814	29,849	57,231	64,065
Other current assets	1,846	1,849	1,063	938	847	871	670	703	914	1,030	5,739	5,708
Total current farm assets	155,516	177,918	89,126	85,803	84,597	87,082	118,299	130,333	163,469	188,386	322,226	398,162

Intermediate Farm Assets
Breeding livestock	43,228	44,915	38,250	38,185	34,322	35,014	44,617	45,975	41,119	42,620	57,857	62,807
Machinery and equipment	184,908	196,705	127,100	133,768	122,489	128,857	152,362	162,284	199,926	214,840	322,767	343,887
Other intermediate assets	32,575	29,127	11,858	10,906	11,184	11,187	16,443	15,859	31,534	27,396	91,902	80,331
Total intermediate farm assets	260,711	270,747	177,208	182,858	167,994	175,058	213,422	224,117	272,580	284,856	472,526	487,025

Long Term Farm Assets
Farm land	248,610	262,962	190,301	206,975	179,113	189,361	225,375	235,023	260,521	274,286	387,867	409,299
Buildings and improvements	90,695	97,113	66,615	71,851	62,158	63,741	70,192	75,104	89,702	97,464	164,870	177,478
Other long-term assets	17,140	18,619	10,810	11,113	7,750	8,119	13,144	14,301	20,507	21,380	33,501	38,201
Total long-term farm assets	356,445	378,694	267,726	289,940	249,022	261,220	308,711	324,428	370,730	393,130	586,238	624,978
Total Farm Assets	772,671	827,360	534,059	558,601	501,613	523,360	640,432	678,878	806,779	866,372	1,380,989	1,510,165

Total Nonfarm Assets	102,664	110,271	92,667	98,780	83,403	91,392	96,441	102,581	107,720	115,637	133,123	142,995
Total Assets	875,336	937,631	626,726	657,382	585,016	614,752	736,873	781,460	914,499	982,009	1,514,112	1,653,160

Liabilities
Current Farm Liabilities
Accrued interest	5,516	6,008	4,573	5,359	3,782	4,227	4,569	5,354	5,580	6,080	9,079	9,022
Accounts payable	6,991	7,691	5,237	7,771	4,893	5,579	4,381	4,159	6,514	7,433	13,934	13,516
Current notes	63,285	70,983	43,931	51,873	34,345	38,412	52,293	57,477	68,331	76,980	117,577	130,231
Government crop loans	4,614	4,087	4,303	3,728	4,206	3,333	3,514	4,094	3,968	3,711	7,084	5,572
Principal due on term debt	25,061	26,302	19,660	21,349	17,892	18,194	20,216	21,113	26,054	27,487	41,496	43,384
Total current farm liabilities	105,467	115,070	77,704	90,080	65,118	69,745	84,972	92,196	110,446	121,690	189,169	201,725

Total intermediate farm liabs	79,934	81,156	69,146	72,713	60,215	60,540	64,402	65,088	79,229	82,319	126,724	125,160
Total long term farm liabilities	145,498	151,402	118,103	126,475	108,432	111,426	127,151	130,683	147,592	150,549	226,287	237,964
Total farm liabilities	330,898	347,628	264,953	289,268	233,765	241,712	276,525	287,966	337,267	354,558	542,180	564,849

Total nonfarm liabilities	13,979	15,634	17,611	20,045	13,897	16,040	10,853	11,926	13,597	14,896	13,937	15,265
Total liabs excluding deferreds	344,877	363,262	282,564	309,313	247,662	257,751	287,378	299,893	350,864	369,454	556,117	580,115
Total deferred liabilities	71,193	77,774	45,287	47,775	43,917	45,333	60,194	64,578	72,646	78,813	133,977	152,439
Total liabilities	416,070	441,036	327,850	357,088	291,579	303,084	347,573	364,471	423,510	448,268	690,094	732,554

Net worth (farm and nonfarm)	459,266	496,595	298,876	300,293	293,437	311,668	389,300	416,989	490,989	533,741	824,018	920,606
Net worth excluding deferreds	530,459	574,369	344,163	348,068	337,354	357,001	449,495	481,567	563,635	612,555	957,995	1,073,045
Net worth change		37,329		1,418		18,231		27,689		42,752		96,588

Ratio Analysis
Current farm liabilities / assets	68 %	65 %	87 %	105 %	77 %	80 %	72 %	71 %	68 %	65 %	59 %	51 %
Curr. & interm farm liab. / assets	45 %	44 %	55 %	61 %	50 %	50 %	45 %	44 %	43 %	43 %	40 %	37 %
Long term farm liab. / assets	41 %	40 %	44 %	44 %	44 %	43 %	41 %	40 %	40 %	38 %	39 %	38 %
Total debt to asset ratio	48 %	47 %	52 %	54 %	50 %	49 %	47 %	47 %	46 %	46 %	46 %	44 %
Debt to assets excl deferreds	39 %	39 %	45 %	47 %	42 %	42 %	39 %	38 %	38 %	38 %	37 %	35 %