	Avg. Of
	All Farms	2007	2006	2005	2004	2003

Number of farms	12428	2614	2504	2418	2387	2505

Income Statement
Gross cash farm income	480,570	592,203	494,713	474,033	440,793	394,155
Total cash farm expense	399,250	496,094	420,309	390,048	360,365	323,080
Net cash farm income	81,320	96,109	74,404	83,986	80,427	71,075
Inventory change	40,259	89,754	49,033	29,711	18,367	10,881
Depreciation	-26,213	-29,851	-27,004	-26,798	-24,435	-22,752
Net farm income from operations	95,366	156,012	96,432	86,899	74,360	59,205
Gain or loss on capital sales	-	-	-	-	-	-
Average net farm income	95,366	156,012	96,432	86,899	74,360	59,205
Median net farm income	59,200	105,489	60,777	56,850	49,793	42,165

Profitability (cost)
Rate of return on assets	9.7 %	13.9 %	9.3 %	8.6 %	8.1 %	6.9 %
Rate of return on equity	13.5 %	20.9 %	12.2 %	11.7 %	11.0 %	8.3 %
Operating profit margin	20.8 %	27.2 %	20.2 %	18.7 %	17.9 %	15.8 %
Asset turnover rate	46.9 %	51.3 %	46.0 %	46.0 %	45.4 %	43.8 %

Profitability (market)
Rate of return on assets	8.8 %	11.4 %	8.4 %	8.3 %	7.8 %	7.2 %
Rate of return on equity	12.5 %	16.9 %	11.3 %	11.6 %	11.0 %	9.8 %
Operating profit margin	24.8 %	29.2 %	24.2 %	23.9 %	22.7 %	21.4 %
Asset turnover rate	35.5 %	38.9 %	34.6 %	34.7 %	34.4 %	33.7 %

Liquidity & Repayment (end of year)
Current assets	294,148	402,249	326,709	272,773	241,468	219,625
Current liabilities	179,356	213,425	201,321	173,235	158,861	147,285
Current ratio	1.64	1.88	1.62	1.57	1.52	1.49
Working capital	114,792	188,823	125,387	99,538	82,608	72,340
Working capital to gross inc	22.2 %	28.1 %	22.9 %	19.9 %	18.2 %	18.0 %
Term debt coverage ratio	1.96	2.77	1.90	1.83	1.66	1.47
Replacement coverage ratio	n/a	n/a	n/a	n/a	n/a	n/a

Solvency (end of year at cost)
Number of farms	12,428	2,614	2,504	2,418	2,387	2,505
Total farm assets	978,432	1,184,654	1,058,614	963,349	869,799	801,160
Total farm liabilities	492,091	563,434	527,794	487,193	452,351	424,552
Total assets	1,113,208	1,332,666	1,204,804	1,099,208	994,259	919,499
Total liabilities	522,498	600,584	562,324	516,749	477,897	449,253
Net worth	590,710	732,082	642,480	582,459	516,362	470,245
Net worth change	75,103	130,741	74,844	66,675	55,515	44,104
Farm debt to asset ratio	50 %	48 %	50 %	51 %	52 %	53 %
Total debt to asset ratio	47 %	45 %	47 %	47 %	48 %	49 %

Solvency (end of year at market)
Number of farms	12,428	2,614	2,504	2,418	2,387	2,505
Total farm assets	1,288,003	1,551,387	1,401,775	1,277,059	1,147,163	1,044,203
Total farm liabilities	616,264	724,347	663,645	605,050	558,917	521,588
Total assets	1,446,847	1,728,955	1,575,119	1,437,299	1,291,724	1,181,275
Total liabilities	652,082	768,242	704,275	640,020	589,024	550,427
Net worth	794,765	960,713	870,844	797,279	702,701	630,848
Net worth change	95,080	144,456	95,701	91,024	75,308	65,691
Farm debt to asset ratio	48 %	47 %	47 %	47 %	49 %	50 %
Total debt to asset ratio	45 %	44 %	45 %	45 %	46 %	47 %

Nonfarm Information
Net nonfarm income	23,289	24,424	24,423	23,684	21,953	21,863
Farms reporting living expenses	3,964	780	754	769	810	851
Total family living expense	43,122	47,943	45,292	42,959	41,744	38,239
Total living, invest, cap. purch	62,825	71,614	68,342	61,602	58,151	55,434

Crop Acres
Total acres owned	274	269	275	277	276	273
Total crop acres	771	786	792	773	755	747
Total crop acres owned	219	213	221	222	224	218
Total crop acres cash rented	524	549	545	525	501	496
Total crop acres share rented	28	24	26	26	29	33

Copyright (c) 2005-2009, University of Minnesota
Data Source(s):	All Minnesota Groups, 11444 farms
	Southwest Minnesota Farm Business Management Association, 622 farms
	Red River Valley Farm and Ranch Business Management, 182 farms
	Southeast Minnesota Farm Business Management Association, 179 farms
	North Central Farm and Ranch Business Management, 1 farms

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Report Summary

1. Report number	112362
2. Location
State:	Minnesota
3. Farm Characteristics
Year(s):	2007, 2006, 2005, 2004, 2003

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