TABLE 13 - 1
Size of Farm Report, 2002
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 431 12 72 133 176 35
Income Statement
Gross cash farm income 245,559 28,055 73,974 150,745 300,795 651,699
Total cash farm expense 196,922 37,641 63,367 125,539 235,728 495,617
Net cash farm income 48,637 -9,587 10,608 25,207 65,067 156,081
Inventory change 12,429 5,475 1,301 12,464 12,955 14,444
Depreciation and capital adjust -16,530 -1,999 -4,812 -11,434 -18,208 -48,508
Net farm income 44,536 -6,110 7,097 26,237 59,813 122,017
Profitability (cost)
Labor and management earnings 24,530 -9,752 -1,556 11,597 36,980 74,281
Rate of return on assets 5.7 % -4.2 % 0.2 % 3.5 % 7.1 % 8.1 %
Rate of return on equity 5.6 % -27.1 % -6.1 % 1.6 % 8.1 % 9.6 %
Operating profit margin 15.3 % -29.0 % 1.1 % 11.8 % 17.3 % 18.2 %
Asset turnover rate 37.0 % 14.3 % 21.3 % 30.1 % 41.0 % 44.3 %
Liquidity
Term debt coverage ratio 131.3 % 68.0 % 73.8 % 106.8 % 141.2 % 184.3 %
Expense as a percent of income 76.5 % 112.5 % 84.0 % 77.1 % 75.3 % 74.7 %
Interest as a percent of income 6.9 % 24.1 % 12.7 % 8.4 % 6.7 % 5.3 %
Solvency (cost)
Number of sole proprietors 413 12 72 130 168 29
Ending farm assets 633,111 208,391 324,929 517,019 750,856 1,313,962
Ending farm liabilities 318,110 146,858 178,297 270,952 361,620 627,935
Ending total assets 730,471 264,574 398,576 592,210 867,564 1,477,847
Ending total liabilities 337,959 154,500 196,924 283,799 386,852 656,890
Ending net worth 392,512 110,074 201,651 308,411 480,712 820,957
Net worth change 20,513 3,475 3,034 11,947 31,721 47,763
Ending farm debt to asset ratio 50 % 70 % 55 % 52 % 48 % 48 %
Beg total debt to asset ratio 46 % 59 % 49 % 47 % 45 % 46 %
End total debt to asset ratio 46 % 58 % 49 % 48 % 45 % 44 %
Nonfarm Information
Net nonfarm income 19,573 28,750 26,354 20,092 16,699 15,782
Farms reporting living expenses 359 7 58 115 154 23
Total family living expense 33,795 23,217 24,681 30,331 38,202 46,447
Total living, invest, & capital 47,184 27,862 26,214 37,479 59,926 69,912
Crop Acres
Total acres owned 854 443 701 828 876 1,257
Total crop acres 1,714 263 681 1,274 2,069 3,805
Total crop acres owned 496 145 316 397 560 1,010
Total crop acres cash rented 946 105 236 624 1,182 2,311
Total crop acres share rented 272 13 128 253 326 484