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{"sheet":"Farm Finance Scorecard","index":0,"n_rows":48,"n_cols":12,"rows_kept":48,"cut":false,"hidden":false,"merged":[[36,6,36,7],[36,8,36,9],[36,10,36,11],[18,10,18,11],[2,6,2,7],[0,2,0,6],[28,10,28,11],[2,8,2,9],[18,8,18,9],[28,8,28,9],[18,6,18,7],[2,10,2,11],[28,6,28,7],[10,6,10,7],[10,8,10,9],[10,10,10,11]]}
[null,"Farm Name","None",null,null,null,null,null,null,null,"Year","None"]
[]
[null,"Liquidity",null,null,null,"Farm Rating","Vulnerable",null,"Stable",null,"Strong"]
[null,null,null,null,null,null,null,1.3,null,2]
[null,"Current Ratio",null,0,null,{"$f":"D5","v":0}]
[null,null,null,null,null,null,null,0.1,null,0.3]
[null,"Working Capital to Gross Revenue",null,0,"%",{"$f":"D7","v":0}]
[null,null,null,null,null,null,null,0.2,null,0.4]
[null,"Working Capital to Operating Expense",null,0,"%",{"$f":"D9","v":0}]
[]
[null,"Solvency ",null,null,null,"Farm Rating","Vulnerable",null,"Stable",null,"Strong"]
[null,null,null,null,null,null,null,0.6,null,0.3]
[null,"Debt-to-Asset Ratio",null,0,"%",{"$f":"D13","v":0}]
[null,null,null,null,null,null,null,0.4,null,0.7]
[null,"Equity-to-Asset Ratio",null,0,"%",{"$f":"D15","v":0}]
[null,null,null,null,null,null,null,1.5,null,0.43]
[null,"Debt-to-Equity Ratio",null,0,null,{"$f":"D17","v":0}]
[]
[null,"Profitability",null,null,null,"Farm Rating","Vulnerable",null,"Stable",null,"Strong"]
[null,null,null,null,null,null,null,0.04,null,0.08]
[null,"Rate of Return on Farm Assets",null,0,"%",{"$f":"D21","v":0}]
[null,null,null,null,null,null,null,0.03,null,0.1]
[null,"Rate of Return on Farm Equity",null,0,"%",{"$f":"D23","v":0}]
[null,null,null,null,null,null,null,0.15,null,0.25]
[null,"Operating Profit Margin",null,0,"%",{"$f":"D25","v":0}]
[null,null,null,null,null,null,null,0.3,null,0.45]
[null,"Asset-Turnover Rate",null,0,"%",{"$f":"D27","v":0}]
[]
[null,"Repayment Capacity",null,null,null,"Farm Rating","Vulnerable",null,"Stable",null,"Strong"]
[null,null,null,null,null,null,null,1.1000000000000001,null,1.5]
[null,"(Total) Debt Coverage Ratio",null,0,null,{"$f":"D31","v":0}]
[null,null,null,null,null,null,null,1.1000000000000001,null,1.5]
[null,"Replacement Margin Coverage Ratio",null,0,null,{"$f":"D33","v":0}]
[null,null,null,null,null,null,null,1.25,null,1.75]
[null,"Term Debt & Finance Lease Coverage Ratio",null,0,null,{"$f":"D35","v":0}]
[]
[null,"Financial Efficiency",null,null,null,"Farm Rating","Vulnerable",null,"Stable",null,"Strong"]
[null,null,null,null,null,null,null,0.8,null,0.6]
[null,"Operating Expense Ratio",null,0,"%",{"$f":"D39","v":0}]
[null,null,null,null,null,null,null,0.1,null,0.05]
[null,"Depreciation Expense Ratio",null,0,"%",{"$f":"D41","v":0}]
[null,null,null,null,null,null,null,0.1,null,0.05]
[null,"Interest Expense Ratio",null,0,"%",{"$f":"D43","v":0}]
[null,null,null,null,null,null,null,0.1,null,0.2]
[null,"Net Farm Income Ratio",null,0,"%",{"$f":"D45","v":0}]
[]
[null,"*Updated on 12/21/2022 to follow guidelines from the Farm Financial Standards Council: ",null,null,null,null,null,"Farm Financial Standards Council – FFSC Home"]
[null,"** Based on Farm Financial Scorecard as produced by Center for Farm Financial Management (CFFM):",null,null,null,null,null,null,"FFSC Scorecard 9.7.22 (umn.edu)"]

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[]
[]
[null,null,"Liquidity"]
[]
[null,null,"Current Ratio",null,null,null,"= Total current farm assets/ Total current farm liabilities"]
[]
[null,null,"Working Capital to Gross Revenues",null,null,null,"= Working capital / Gross farm income"]
[]
[null,null,"Working Capital to Operating Expense",null,null,null,"= Working capital / (Farm operating expense - depreciation/amortization)"]
[]
[null,null,"Solvency "]
[]
[null,null,"Farm Debt-to-Asset Ratio",null,null,null,"= Total farm liabilities / Total farm assets"]
[]
[null,null,"Profitability"]
[]
[null,null,"Rate of Return on Farm Assets",null,null,null,"= Return on farm assets / Average farm assets"]
[null,null,null,null,null,null,"Note: Return on farm assets = Net farm income + Farm interest – Value of operator labor & management"]
[]
[null,null,"Rate of Return on Farm Equity",null,null,null,"= Return on farm equity / Average farm net worth"]
[null,null,null,null,null,null,"Note: Return on farm equity = Net farm income  – Value of operator labor & management"]
[]
[null,null,"Operating Profit Margin",null,null,null,"= Return on farm assets  / Value of farm production "]
[null,null,null,null,null,null,"Note: Value of farm production = Gross cash farm income +/– Inv change of crops, mkt lvst, brdg lvst & other income items – Feeder livestock purchased – Purchased feed"]
[]
[]
[null,null,"Asset-Turnover Rate",null,null,null,"= Value of farm production / Average farm assets"]
[]
[null,null,"Repayment Capacity"]
[]
[null,null,"(Total) Debt Coverage Ratio",null,null,null,"= Capital debt repayment capacity/ Scheduled principal on term loans & interest on all loans (term and operating)"]
[]
[null,null,"Replacement Margin Coverage Ratio",null,null,null,"= Capital debt repayment capacity/ (Scheduled principal & interest on term loans+ Unfunded capital replacement allowance)"]
[null,null,null,null,null,null,"Note: Unfunded capital replacement allowance = beginning market value of livestock x depreciation percentage (%) + beginning market value of machinery & titled vehicles x depreciation percentage (%) ‒ intermediate principal payments from beginning balance sheet"]
[]
[]
[null,null,"Financial Efficiency"]
[]
[null,null,"Operating Expense Ratio",null,null,null,"= (Total farm operating expense excluding Interest – Depreciation)/ Gross farm income"]
[]
[null,null,"Depreciation Expense Ratio",null,null,null,"= Depreciation / Gross farm income"]
[]
[null,null,"Interest Expense Ratio",null,null,null,"= Farm interest  / Gross farm income"]
[]
[null,null,"Net Farm Income Ratio",null,null,null,"= Net farm income / Gross farm income"]

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