Farm Business Management -- Reports -- Minnesota STATEWIDE

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

Number of farms	2282		454		456		454		459		459

	Beginning	Ending	Beginning	Ending	Beginning	Ending	Beginning	Ending	Beginning	Ending	Beginning	Ending
Assets
Current Farm Assets
Cash and checking balance	6,894	6,560	4,261	2,081	5,343	5,158	3,975	3,670	7,323	7,717	13,498	14,084
Prepaid expenses & supplies	16,142	18,952	6,401	5,968	6,976	7,065	11,479	12,635	19,075	20,255	36,563	48,549
Growing crops	381	378	169	168	183	163	131	99	275	234	1,139	1,220
Accounts receivable	11,475	14,542	6,033	7,299	5,369	5,457	6,694	7,874	9,673	12,473	29,456	39,398
Hedging accounts	611	727	137	199	319	190	496	525	690	688	1,405	2,024
Crops held for sale or feed	86,999	100,481	48,639	45,004	48,252	50,717	71,601	77,052	96,307	111,891	169,355	216,557
Crops under government loan	4,911	4,647	4,504	4,253	4,413	3,852	3,664	4,723	4,398	4,250	7,555	6,150
Market livestock held for sale	26,682	30,274	17,861	19,914	13,270	14,019	20,100	23,367	24,814	29,849	57,107	63,926
Other current assets	1,854	1,853	1,072	924	852	877	676	709	914	1,030	5,726	5,695
Total current farm assets	155,948	178,415	89,077	85,809	84,977	87,497	118,816	130,654	163,469	188,386	321,804	397,603

Intermediate Farm Assets
Breeding livestock	37,734	38,776	34,292	33,104	31,956	32,363	39,011	40,123	35,851	36,830	47,499	51,370
Machinery and equipment	124,371	134,341	88,576	92,892	78,096	82,687	97,476	105,149	136,428	149,799	220,296	240,072
Other intermediate assets	25,200	26,372	8,956	9,343	10,609	11,015	12,890	13,112	24,106	24,996	69,033	72,964
Total intermediate farm assets	187,306	199,489	131,824	135,339	120,660	126,064	149,377	158,383	196,385	211,625	336,828	364,406

Long Term Farm Assets
Farm land	178,481	187,331	134,427	142,154	119,012	124,632	153,851	160,288	189,242	198,468	294,735	309,918
Buildings and improvements	70,841	74,698	54,771	57,818	44,863	45,245	51,643	54,720	70,544	75,313	131,831	139,801
Other long-term assets	15,938	17,321	10,005	9,972	7,350	7,814	10,998	11,714	19,085	20,085	32,075	36,816
Total long-term farm assets	265,260	279,351	199,204	209,944	171,225	177,692	216,491	226,722	278,872	293,866	458,641	486,535
Total Farm Assets	608,514	657,254	420,105	431,092	376,863	391,253	484,684	515,760	638,726	693,878	1,117,273	1,248,545

Total Nonfarm Assets	91,326	98,963	81,638	86,157	75,417	83,416	88,395	94,754	97,012	104,491	113,926	125,709
Total Assets	699,839	756,217	501,742	517,249	452,280	474,669	573,080	610,514	735,738	798,369	1,231,200	1,374,253

Liabilities
Current Farm Liabilities
Accrued interest	5,524	6,023	4,559	5,384	3,798	4,246	4,595	5,378	5,580	6,080	9,059	9,002
Accounts payable	7,012	7,702	5,263	7,825	4,913	5,602	4,406	4,114	6,514	7,433	13,904	13,486
Current notes	63,616	71,245	44,274	52,145	34,571	38,664	52,642	57,696	68,331	76,980	117,741	130,173
Government crop loans	4,594	4,076	4,138	3,617	4,234	3,355	3,545	4,130	3,968	3,711	7,069	5,560
Principal due on term debt	25,105	26,329	19,705	21,302	17,930	18,225	20,266	21,174	26,054	27,487	41,412	43,296
Total current farm liabilities	105,852	115,377	77,939	90,273	65,446	70,092	85,453	92,492	110,446	121,690	189,184	201,517

Total intermediate farm liabs	79,855	81,113	68,409	72,095	60,249	60,654	64,508	65,193	79,229	82,319	126,459	124,897
Total long term farm liabilities	145,705	151,579	118,301	126,759	108,705	111,599	127,395	130,782	147,592	150,549	225,794	237,446
Total farm liabilities	331,412	348,068	264,649	289,127	234,399	242,345	277,356	288,467	337,267	354,558	541,438	563,860

Total nonfarm liabilities	13,982	15,642	17,496	19,925	13,960	16,106	10,893	11,918	13,597	14,896	13,967	15,374
Total liabilities	345,394	363,710	282,146	309,052	248,359	258,451	288,249	300,385	350,864	369,454	555,405	579,234

Net worth (farm and nonfarm)	354,446	392,507	219,597	208,197	203,921	216,218	284,831	310,129	384,874	428,915	675,795	795,019
Net worth change		38,061		-11,400		12,297		25,298		44,041		119,224

Ratio Analysis
Current farm liabilities / assets	68 %	65 %	87 %	105 %	77 %	80 %	72 %	71 %	68 %	65 %	59 %	51 %
Curr. & interm farm liab. / assets	54 %	52 %	66 %	73 %	61 %	61 %	56 %	55 %	53 %	51 %	48 %	43 %
Long term farm liab. / assets	55 %	54 %	59 %	60 %	63 %	63 %	59 %	58 %	53 %	51 %	49 %	49 %
Total debt to asset ratio	49 %	48 %	56 %	60 %	55 %	54 %	50 %	49 %	48 %	46 %	45 %	42 %