TABLE 13 - 2
Age of Operator Report, 2001
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 452 40 113 193 83 23
Income Statement
Gross cash farm income 248,851 154,794 248,133 278,799 239,500 198,402
Total cash farm expense 197,552 135,470 196,904 220,467 186,540 156,163
Net cash farm income 51,299 19,324 51,228 58,332 52,960 42,238
Inventory change -2,134 15,244 -5,288 -2,586 -5,501 -921
Depreciation and capital adjust -16,756 -6,897 -15,833 -20,941 -13,785 -14,036
Net farm income 32,408 27,670 30,107 34,804 33,674 27,282
Profitability (cost)
Labor and management earnings 13,529 21,245 15,043 13,807 10,147 2,552
Rate of return on assets 4.3 % 6.0 % 4.4 % 4.3 % 4.3 % 3.4 %
Rate of return on equity 2.2 % 6.5 % 2.0 % 2.2 % 2.3 % 1.0 %
Operating profit margin 11.8 % 11.5 % 11.4 % 11.1 % 14.4 % 13.5 %
Asset turnover rate 36.6 % 52.0 % 38.5 % 38.9 % 29.7 % 25.0 %
Liquidity
Term debt coverage ratio 100.8 % 130.3 % 89.4 % 104.1 % 93.1 % 147.6 %
Expense as a percent of income 80.1 % 79.9 % 80.8 % 80.0 % 79.9 % 79.0 %
Interest as a percent of income 8.0 % 6.3 % 8.0 % 7.6 % 9.2 % 9.2 %
Solvency (cost)
Number of sole proprietors 434 39 106 186 82 21
Ending farm assets 613,764 326,209 535,793 678,544 731,694 507,109
Ending farm liabilities 311,457 219,330 303,973 333,376 333,574 239,824
Ending total assets 705,959 350,262 611,124 791,836 837,306 571,728
Ending total liabilities 328,697 232,513 326,803 352,435 344,793 243,791
Ending net worth 377,262 117,750 284,321 439,400 492,513 327,938
Net worth change 11,853 14,170 7,088 13,358 15,259 4,980
Ending farm debt to asset ratio 51 % 67 % 57 % 49 % 46 % 47 %
Beg total debt to asset ratio 45 % 62 % 52 % 43 % 41 % 43 %
End total debt to asset ratio 47 % 66 % 53 % 45 % 41 % 43 %
Nonfarm Information
Net nonfarm income 18,724 14,537 17,632 19,322 21,361 16,845
Farms reporting living expenses 335 27 84 141 63 20
Total family living expense 35,011 25,752 33,452 39,567 33,128 27,864
Total living, invest, & capital 50,203 33,765 48,940 58,453 46,307 31,804
Crop Acres
Total acres owned 826 386 623 842 1,132 1,349
Total crop acres 1,647 1,084 1,647 1,822 1,592 1,341
Total crop acres owned 491 224 367 497 715 700
Total crop acres cash rented 846 657 932 977 621 463
Total crop acres share rented 310 204 349 349 256 178