Farm Business Management -- Reports -- Minnesota STATEWIDE

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

Number of farms	2293	458	459	458	459	459

Income Statement
Gross cash farm income	320,375	182,039	187,253	241,732	343,536	646,844
Total cash farm expense	265,361	169,747	156,131	198,232	277,420	524,922
Net cash farm income	55,014	12,292	31,123	43,500	66,116	121,922
Inventory change	21,544	-4,468	1,577	11,745	23,103	75,687
Depreciation and capital adjust	-20,475	-19,622	-13,836	-14,999	-20,295	-33,609
Net farm income	56,083	-11,799	18,863	40,245	68,924	164,000

Profitability (cost)
Labor and management earnings	38,256	-21,510	9,671	26,889	49,361	125,907
Rate of return on assets	8.9 %	-1.7 %	4.8 %	7.9 %	10.1 %	13.9 %
Rate of return on equity	10.6 %	-19.4 %	-0.1 %	8.3 %	12.9 %	19.7 %
Operating profit margin	19.9 %	-5.2 %	11.3 %	18.7 %	21.5 %	27.7 %
Asset turnover rate	45.0 %	33.3 %	42.2 %	42.5 %	46.9 %	50.1 %

Profitability (market)
Labor and management earnings	32,111	-14,285	10,816	23,927	42,347	97,772
Rate of return on assets	7.0 %	0.7 %	4.7 %	6.4 %	7.8 %	9.9 %
Rate of return on equity	7.8 %	-7.8 %	2.5 %	6.6 %	9.6 %	13.7 %
Operating profit margin	19.7 %	2.7 %	15.1 %	20.1 %	21.0 %	24.1 %
Asset turnover rate	35.5 %	25.7 %	31.4 %	32.0 %	37.3 %	41.1 %

Liquidity
Term debt coverage ratio	163.8 %	61.1 %	113.6 %	138.4 %	171.5 %	248.9 %
Expense as a percent of income	77.5 %	95.7 %	82.8 %	78.2 %	75.7 %	72.2 %
Interest as a percent of income	7.5 %	11.8 %	9.7 %	8.5 %	7.0 %	5.6 %

Solvency (cost)
Number of farms	2,282	454	456	454	459	459
Ending farm assets	657,254	431,092	391,253	515,760	693,878	1,248,545
Ending farm liabilities	348,068	289,127	242,345	288,467	354,558	563,860
Ending total assets	756,217	517,249	474,669	610,514	798,369	1,374,253
Ending total liabilities	363,710	309,052	258,451	300,385	369,454	579,234
Ending net worth	392,507	208,197	216,218	310,129	428,915	795,019
Net worth change	38,061	-11,400	12,297	25,298	44,041	119,224
Ending farm debt to asset ratio	53 %	67 %	62 %	56 %	51 %	45 %
Beg total debt to asset ratio	49 %	56 %	55 %	50 %	48 %	45 %
End total debt to asset ratio	48 %	60 %	54 %	49 %	46 %	42 %

Solvency (market)
Number of farms	2,292	458	459	458	459	458
Ending farm assets	827,360	558,601	523,360	678,878	866,372	1,510,165
Ending farm liabilities	422,602	334,683	285,154	350,551	430,261	712,644
Ending total assets	937,631	657,382	614,752	781,460	982,009	1,653,160
Ending total liabilities	441,036	357,088	303,084	364,471	448,268	732,554
Ending net worth	496,595	300,293	311,668	416,989	533,741	920,606
Net worth change	37,329	1,418	18,231	27,689	42,752	96,588
Ending farm debt to asset ratio	51 %	60 %	54 %	52 %	50 %	47 %
Beg total debt to asset ratio	48 %	52 %	50 %	47 %	46 %	46 %
End total debt to asset ratio	47 %	54 %	49 %	47 %	46 %	44 %

Nonfarm Information
Net nonfarm income	18,700	30,236	21,785	16,327	13,413	11,757
Farms reporting living expenses	1,133	233	241	250	240	169
Total family living expense	29,465	26,795	26,266	27,280	31,871	37,526
Total living, invest, & capital	48,328	41,078	43,924	43,776	50,246	68,617

Crop Acres
Total acres owned	274	221	210	237	273	427
Total crop acres	696	395	428	520	793	1,346
Total crop acres owned	213	147	148	178	231	360
Total crop acres cash rented	444	223	251	312	516	917
Total crop acres share rented	39	24	29	30	46	68