TABLE 13 - 2
Age of Operator Report, 2000
North Dakota Farm Business Management Education Program
State Report
(Farms Sorted By Age Of Operator)
Avg. Of Less
All Farms than 31 31 - 40 41 - 50 51 - 60 Over 60
Number of farms 475 43 125 204 81 22
Income Statement
Gross cash farm income 231,441 143,913 229,665 267,480 199,480 196,116
Total cash farm expense 186,270 119,901 184,992 211,496 167,087 159,967
Net cash farm income 45,172 24,012 44,673 55,984 32,393 36,148
Inventory change 21,908 26,448 28,648 18,827 16,044 24,887
Depreciation and capital adjust -13,057 -7,048 -11,061 -15,972 -12,037 -12,875
Net farm income 54,022 43,412 62,260 58,839 36,400 48,160
Profitability (cost)
Labor and management earnings 36,397 36,076 47,684 38,508 17,676 22,242
Rate of return on assets 8.5 % 12.0 % 10.9 % 8.3 % 5.9 % 6.5 %
Rate of return on equity 9.9 % 18.2 % 15.7 % 9.4 % 4.3 % 5.4 %
Operating profit margin 20.9 % 21.3 % 23.9 % 19.9 % 18.8 % 21.4 %
Asset turnover rate 40.8 % 56.2 % 45.8 % 41.8 % 31.2 % 30.3 %
Liquidity
Term debt coverage ratio 162.4 % 273.1 % 182.8 % 156.6 % 131.7 % 130.3 %
Expense as a percent of income 73.6 % 70.8 % 71.9 % 73.8 % 77.4 % 73.7 %
Interest as a percent of income 8.2 % 6.4 % 7.7 % 7.8 % 10.9 % 9.9 %
Solvency (cost)
Number of sole proprietors 458 41 118 199 79 21
Ending farm assets 593,632 305,044 534,639 668,437 642,709 595,059
Ending farm liabilities 299,638 172,660 292,512 321,660 320,955 298,709
Ending total assets 678,891 326,414 608,694 773,136 730,501 674,275
Ending total liabilities 315,035 184,153 312,576 337,131 333,026 307,309
Ending net worth 363,857 142,261 296,118 436,005 397,475 366,965
Net worth change 33,334 31,382 38,848 34,365 28,228 15,591
Ending farm debt to asset ratio 50 % 57 % 55 % 48 % 50 % 50 %
Beg total debt to asset ratio 47 % 55 % 52 % 44 % 46 % 46 %
End total debt to asset ratio 46 % 56 % 51 % 44 % 46 % 46 %
Nonfarm Information
Net nonfarm income 18,472 13,396 17,707 19,075 22,468 12,437
Farms reporting living expenses 359 31 102 154 54 18
Total family living expense 33,128 23,008 32,440 37,088 30,051 29,803
Total living, invest, & capital 44,480 30,241 43,898 50,821 38,734 35,287
Crop Acres
Total acres owned 821 411 652 859 1,064 1,337
Total crop acres 1,619 1,092 1,650 1,801 1,412 1,548
Total crop acres owned 489 199 388 522 645 754
Total crop acres cash rented 829 634 940 938 563 547
Total crop acres share rented 301 259 322 340 204 247