TABLE 13 - 3
Type of Farm Report, 2001
North Dakota Farm Business Management Education Program
State Report
(Farms Sorted By Farm Type)
Avg. Of Crop and
All Farms Crop Dairy Beef Beef Other
Number of farms 452 146 15 56 103 123
Income Statement
Gross cash farm income 248,851 282,295 242,906 176,434 259,241 37,586
Total cash farm expense 197,552 221,879 183,569 143,333 210,082 186,306
Net cash farm income 51,299 60,415 59,337 33,101 49,159 51,280
Inventory change -2,134 -8,205 14,497 4,474 5,838 -7,617
Depreciation and capital adjust -16,756 -17,295 -31,178 -9,098 -17,443 -17,756
Net farm income 32,408 34,916 42,657 28,477 37,554 25,907
Profitability (cost)
Labor and management earnings 13,529 12,304 30,280 11,822 18,063 9,611
Rate of return on assets 4.3 % 4.2 % 6.6 % 4.4 % 5.0 % 3.6 %
Rate of return on equity 2.2 % 2.0 % 9.6 % 2.5 % 3.6 % 0.4 %
Operating profit margin 11.8 % 10.3 % 17.8 % 19.6 % 13.9 % 9.7 %
Asset turnover rate 36.6 % 40.9 % 36.9 % 22.3 % 35.7 % 37.6 %
Liquidity
Term debt coverage ratio 100.8 % 100.9 % 180.0 % 90.8 % 109.0 % 87.2 %
Expense as a percent of income 80.1 % 81.2 % 70.8 % 79.1 % 79.3 % 80.8 %
Interest as a percent of income 8.0 % 7.6 % 5.3 % 10.1 % 7.5 % 8.6 %
Solvency (cost)
Number of sole proprietors 434 140 14 55 98 119
Ending farm assets 613,764 660,327 521,269 587,840 641,989 573,623
Ending farm liabilities 311,457 314,964 306,516 307,862 322,768 306,829
Ending total assets 705,959 779,829 603,021 653,845 729,757 654,057
Ending total liabilities 328,697 335,718 328,648 315,891 337,716 326,147
Ending net worth 377,262 444,111 274,373 337,954 392,042 327,910
Net worth change 11,853 10,519 23,016 16,249 19,505 4,106
Ending farm debt to asset ratio 51 % 48 % 59 % 52 % 50 % 53 %
Beg total debt to asset ratio 45 % 41 % 55 % 48 % 46 % 49 %
End total debt to asset ratio 47 % 43 % 55 % 48 % 46 % 50 %
Nonfarm Information
Net nonfarm income 18,724 21,017 16,866 19,258 17,980 17,556
Farms reporting living expenses 335 105 10 41 76 98
Total family living expense 35,011 38,541 30,412 29,397 32,953 36,064
Total living, invest, & capital 50,203 61,960 42,890 35,588 43,831 50,087
Crop Acres
Total acres owned 826 752 608 1,293 802 765
Total crop acres 1,647 2,021 639 930 1,680 1,671
Total crop acres owned 491 611 359 426 467 425
Total crop acres cash rented 846 987 220 406 913 926
Total crop acres share rented 310 423 60 99 300 320