TABLE 13 - 1
Size of Farm Report, 2001
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 452 9 72 143 191 34
Income Statement
Gross cash farm income 248,851 21,807 73,303 150,678 301,187 691,162
Total cash farm expense 197,552 37,205 64,306 119,921 234,647 547,212
Net cash farm income 51,299 -15,398 8,997 30,756 66,540 143,950
Inventory change -2,134 17,581 5,918 4,425 -8,169 -11,854
Depreciation and capital adjust -16,756 -2,256 -8,333 -10,205 -20,034 -44,418
Net farm income 32,408 -73 6,581 24,977 38,336 87,677
Profitability (cost)
Labor and management earnings 13,529 -3,975 -2,437 12,652 15,612 40,400
Rate of return on assets 4.3 % -3.2 % 0.1 % 4.1 % 4.7 % 5.9 %
Rate of return on equity 2.2 % -16.5 % -7.1 % 1.7 % 2.8 % 5.4 %
Operating profit margin 11.8 % -16.6 % 0.5 % 12.6 % 12.0 % 13.6 %
Asset turnover rate 36.6 % 19.1 % 22.4 % 32.6 % 38.8 % 43.4 %
Liquidity
Term debt coverage ratio 100.8 % 77.7 % 76.5 % 100.7 % 103.7 % 120.2 %
Expense as a percent of income 80.1 % 94.4 % 81.3 % 77.4 % 80.2 % 80.5 %
Interest as a percent of income 8.0 % 13.7 % 13.6 % 9.6 % 7.7 % 5.7 %
Solvency (cost)
Number of sole proprietors 434 9 72 140 183 28
Ending farm assets 613,764 194,460 334,022 459,761 732,502 1,335,094
Ending farm liabilities 311,457 118,066 182,351 257,120 350,427 648,226
Ending total assets 705,959 243,878 407,738 526,660 836,981 1,533,005
Ending total liabilities 328,697 131,783 201,590 269,836 369,607 669,449
Ending net worth 377,262 112,095 206,148 256,824 467,374 863,556
Net worth change 11,853 20,310 9,772 10,960 11,010 20,897
Ending farm debt to asset ratio 51 % 61 % 55 % 56 % 48 % 49 %
Beg total debt to asset ratio 45 % 51 % 49 % 50 % 42 % 44 %
End total debt to asset ratio 47 % 54 % 49 % 51 % 44 % 44 %
Nonfarm Information
Net nonfarm income 18,724 28,396 22,197 20,739 16,120 14,820
Farms reporting living expenses 335 6 57 108 143 19
Total family living expense 35,011 29,093 25,963 30,976 39,273 52,008
Total living, invest, & capital 50,203 33,134 34,987 38,633 60,029 85,310
Crop Acres
Total acres owned 826 165 651 761 890 1,212
Total crop acres 1,647 369 692 1,180 2,023 3,504
Total crop acres owned 491 65 312 395 557 951
Total crop acres cash rented 846 285 234 516 1,097 1,988
Total crop acres share rented 310 19 146 269 369 564