TABLE 13 - 1
Size of Farm Report, 2000
Financial Summary
North Dakota Farm Business Management Education Program
State Report
(Farms Sorted By Gross Farm Income)
Avg. Of Less than 40,001 - 100,001 - 200,001 - 500,001 -
All Farms 40,000 100,000 200,000 500,000 1,000,000
Number of farms 475 16 77 160 188 32
Income Statement
Gross cash farm income 231,441 23,245 72,602 149,092 297,527 654,316
Total cash farm expense 186,270 24,295 64,299 119,490 233,787 549,546
Net cash farm income 45,172 -1,050 8,303 29,602 63,740 104,770
Inventory change 21,908 9,613 11,554 19,736 23,805 59,415
Depreciation and capital adjust -13,057 1,183 -4,440 -7,840 -17,617 -38,989
Net farm income 54,022 9,745 15,417 41,498 69,928 125,196
Profitability (cost)
Labor and management earnings 36,397 6,411 7,427 29,058 46,274 89,138
Rate of return on assets 8.5 % 1.7 % 2.9 % 8.1 % 9.3 % 10.1 %
Rate of return on equity 9.9 % -6.4 % -2.0 % 9.4 % 10.8 % 13.2 %
Operating profit margin 20.9 % 9.5 % 10.8 % 22.8 % 21.7 % 19.2 %
Asset turnover rate 40.8 % 18.0 % 26.9 % 35.5 % 42.7 % 52.6 %
Liquidity
Term debt coverage ratio 162.4 % 109.0 % 114.4 % 144.6 % 174.2 % 185.2 %
Expense as a percent of income 73.6 % 74.5 % 76.9 % 71.1 % 72.7 % 77.2 %
Interest as a percent of income 8.2 % 17.4 % 13.2 % 10.4 % 7.5 % 6.3 %
Solvency (cost)
Number of sole proprietors 458 16 77 155 180 28
Ending farm assets 593,632 163,268 318,838 473,820 744,774 1,188,169
Ending farm liabilities 299,638 105,382 183,981 259,140 336,764 669,207
Ending total assets 678,891 210,325 384,591 545,070 844,056 1,340,889
Ending total liabilities 315,035 118,778 197,567 271,476 354,510 692,314
Ending net worth 363,857 91,547 187,024 273,594 489,546 648,575
Net worth change 33,334 18,248 14,369 26,482 43,590 53,047
Ending farm debt to asset ratio 50 % 65 % 58 % 55 % 45 % 56 %
Beg total debt to asset ratio 47 % 61 % 51 % 51 % 42 % 53 %
End total debt to asset ratio 46 % 56 % 51 % 50 % 42 % 52 %
Nonfarm Information
Net nonfarm income 18,472 23,102 21,610 19,591 16,674 14,611
Farms reporting living expenses 359 14 52 123 147 21
Total family living expense 33,128 21,159 24,581 29,748 37,252 52,243
Total living, invest, & capital 44,480 27,979 30,998 37,311 52,368 75,523
Crop Acres
Total acres owned 821 288 665 769 911 1,137
Total crop acres 1,619 219 678 1,239 2,058 3,667
Total crop acres owned 489 117 286 438 582 834
Total crop acres cash rented 829 81 256 542 1,089 2,293
Total crop acres share rented 301 20 136 259 388 540