COOPERATIVE 

STATISTICS

2009

United States

Department of

Agriculture

Service Report 70

Cooperative Statistics, 2009 i

ABSTRACT

A survey of U.S. farmer, rancher, and fishery cooperatives ending their business year during calendar 

year 2009 showed a net business volume of $147.7 

billion with a net income of $4.4 billion. These 

cooperatives had assets totaling $61 billion, $37 billion of liabilities, and $24 billion in equity. Cooperatives were a major employer in rural areas, with 

123,000 full-time workers and 58,000 part-time or 

seasonal employees. Business volume by commodity is reported for all cooperatives. 

Number of cooperatives, cooperative memberships, 

and number of employees are classified according 

to whether the business is a marketing, supply, or 

service cooperative. Trends in cooperative numbers, memberships, employees, business size, sales 

volume, net income, assets, liabilities, and net worth 

are reported. 

Keywords: cooperatives, statistics, business volume, 

employees, memberships, balance sheet, income 

statement, financial ratios.

 

COOPERATIVE STATISTICS, 2009

Jacqueline E. Penn

Katherine C. DeVille

E. Eldon Eversull

Rural Development

U.S. Department of Agriculture

STOP 3256

1400 Independence Ave., S.W.

Washington, DC 20250 3256

Service Report 70

November 2010

The U.S. Department of Agriculture (USDA) prohibits discrimination in all of its programs and activities 

on the basis of race, color, national origin, age, disability, and where applicable, sex, marital status, familial 

status, parental status, religion, sexual orientation, political beliefs, genetic information, reprisal, or because all or part of an individual’s income is derived from any public assistance program. (Not all prohibited bases apply to all programs.) Persons with disabilities who require alternative means for communication of program information (Braille, large print, audiotape, etc.) should contact USDA’s TARGET Center 

at (202) 720-2600 (voice and TDD).

To file a complaint of discrimination, write to USDA, Assistant Secretary for Civil Rights, Office of the 

Assistant Secretary for Civil Rights, 1400 Independence Avenue, S.W., Stop 9410, Washington, DC 20250-

9410, or call toll-free at (866) 632-9992 (English) or (800) 877-8339 (TDD) or (866) 377-8642 (English 

Federal-relay) or (800) 845-6136 (Spanish Federal-relay). USDA is an equal opportunity provider and 

employer. 
ii Cooperative Statistics, 2009
Cooperative Statistics, 2009 iii

PREFACE

Cooperative statistics are collected annually to 

provide information on the progress and trends 

among the Nation’s farmer, rancher, and fishery 

cooperatives. These statistics are used for research, 

technical assistance, education, planning, and public 

policy. The collection, analysis, and dissemination 

of cooperative statistics by the United States Department of Agriculture (USDA) are authorized by 

the Cooperative Marketing Act of 1926.

This report provides aggregate information on the 

number, membership, business volume, net income, 

basic balance sheet items, and full-time and parttime and seasonal employees of cooperatives for the 

business year ending in calendar year 2009. Cooperatives are classified by principal product marketed 

and major function. Biofuel cooperatives are included as “other product marketing” cooperatives. 

Both gross (includes inter-cooperative business) 

and net (excludes inter-cooperative business) dollar 

volumes are reported.

Statistics for 2009 were compiled on a State and 

national basis. The information was collected from 

individual farmer, rancher, and fishery cooperatives 

by a mail survey of all organizations identified by 

USDA Rural Development’s Cooperative Programs 

(CP) as farmer, rancher, or fishery cooperatives. Information was requested for the cooperatives’ 2009 

business year. 

CP conducts an annual census to gain accurate 

information for assistance purposes. Information 

obtained from individual cooperatives is combined 

with data from other cooperatives to maintain confidentiality. 

Statistics for all cooperatives were derived by 

estimating data for non-respondents and combining 

this information with respondent data. Data from 

respondents and other sources accounted for 89 percent of the total gross sales of farmer, rancher, and 

fishery cooperatives in 2009. 

CP depends on the cooperative community’s 

response to its annual survey to develop a detailed 

and comprehensive set of statistics on cooperatives. 

The time and effort taken to provide information 

and the timeliness with which it is furnished are 

greatly appreciated.
iv Cooperative Statistics, 2009
Cooperative Statistics, 2009

v

ABSTRACTi

PREFACE iii

HIGHLIGHTS vii

COOPERATIVE STATISTICS, 20091

I–DEFINITION OF A COOPERATIVE1

Classification of Cooperatives1

Organizational Membership Structures1

II–2009 STATISTICS2

Number of Cooperatives3

Memberships4

Employees 11

Business Size 11

Business Volume 12

Balance Sheet 14

Income Statement 17

Selected Financial Ratios 24

APPENDIX TABLES 27

APPENDIX FIGURES 53

CONTENTS
vi Cooperative Statistics, 2009
Cooperative Statistics, 2009 vii

 

 2009 2008 Change

Number of cooperatives 2,389 2,473 -84

Memberships (millions) 2.2 2.4 -0.14

 

Gross business volume (billion $) 170.2 191.9 -21.63

Net business volume (billion $) 147.7 165.3 -17.53

 

Net income before taxes (billion $) 4.4 4.8 -0.43

Total assets (billion $) 61.2 69.1 -7.88

Net worth (billion $) 23.8 23.0 0.85

Full-time employees (thousand) 122.6 124.4 -1.83

Part-time and seasonal employees (thousand) 57.8 53.8 4.00

HIGHLIGHTS

Table A–Comparison of 2009 and 2008 Cooperative Statistics

There are 2,389 U.S. farmer, rancher, and fishery 

cooperatives, according to the 2009 survey of marketing, supply, and service cooperatives by USDA 

Rural Development’s Cooperative Programs (CP). 

This was the second highest sales and income year 

for these cooperatives, trailing only the records set 

in 2008. The year saw falling commodity and input 

prices with significantly lower sales for dairy, grain, 

cotton, and cotton ginning cooperatives. Energy 

prices also significantly declined, lowering cooperative sales of petroleum products. 

o Total gross business volume (includes intercooperative business) handled by cooperatives 

was $170.2 billion; net business (excludes intercooperative business) was $147.7 billion. 

o Total net income was $4.4 billion, which includes inter-cooperative dividends and refunds 

of $904.0 million.

o Cooperative memberships were 2.2 million, 

down 140,000 from 2008.

o Cooperatives employed 123,000 full-time and 

58,000 part-time and seasonal employees. Fulltime employee numbers were down 1,830 from 

2008, while part-time and seasonal employee 

numbers were up by 4,000.

o Gross value of products marketed by cooperatives was $102 billion, with a net value (after 

eliminating duplication from inter-cooperative 

business) of $95 billion. Gross marketings were 

down 13 percent due to decreased prices of dairy 

products and grains and oilseeds, and decreased 

cotton production.

o Gross value of supplies handled by cooperatives 

was $63 billion, with a net value of $48 billion. 

Gross supply sales were down 7 percent, primarily due to decreasing energy costs and fertilizer 

usage.

o Receipts for services related to marketing farm 

products and handling supplies, plus other income, totaled $5.0 billion.

o Cooperatives had $61 billion in combined assets. 

Total assets decreased 11 percent with much of 

this decline occurring in lower value inventories 

due to decreases in grain and oilseed and energy 

prices. Net assets, after eliminating inter-cooperative investments, were $57 billion. Inter-cooperative investments included those in CoBank. 

o Total liabilities totaled $37 billion.

o Net worth, or member and patron equity, was 

$24 billion. Member and patron equity financed 

39 percent of total assets, up from 33 percent in 

2008.
viii Cooperative Statistics, 2009
Cooperative Statistics, 2009 1

Cooperative Statistics, 2009

Jacqueline E. Penn, Katherine C. DeVille (retired), and E. Eldon Eversull, Rural Development

I. COOPERATIVE DEFINITION

USDA Rural Development’s Cooperative Programs (CP) considers four major criteria in identifying farmer, rancher, and fishery cooperatives:

(1) Membership is limited to persons producing 

agricultural and aquacultural products and to 

associations of such producers; 

(2) Cooperative members are limited to one vote 

regardless of the amount of stock or membership capital owned; or the cooperative does 

not pay dividends on stock or membership 

capital in excess of 8 percent a year or the 

legal rate in the State, whichever is higher;

(3) Business conducted with non-members may 

not exceed the value of business conducted 

with members; 

(4) The cooperative operates for the mutual interest of members by providing member benefits 

on the basis of patronage.

These criteria may result in larger or smaller 

numbers of farmer, rancher, and fishery cooperatives than found in lists or directories of State agencies or cooperative councils. Year-to-year comparisons with specific commodity groups reflect any 

differences in lists and classifications in State and 

Federal data.

Classification of Cooperatives

CP classifies each cooperative under one of the 

following major functions: marketing, supply, or 

service. For example: fertilizer cooperatives are 

classified as supply cooperatives; wool pools are 

classified as marketing cooperatives; and cotton ginning cooperatives are classified as service cooperatives.

Marketing cooperatives derive most of their total 

dollar volume from the sale of members’ products. 

These cooperatives are further classified into 1 of 13 

commodities or commodity groups, depending upon 

which accounts for most of its business volume. CP 

may reclassify a cooperative into a different commodity category if its primary business volume 

changes significantly.

Supply cooperatives derive most of their business volume from the sale of production supplies, 

machinery and equipment, and building materials. 

Many also handle farm, ranch, and home items, 

such as heating oil, lawn and garden supplies and 

equipment, and food.

Service cooperatives provide specialized services related to the business operations of farmers, 

ranchers, or cooperatives, such as cotton ginning, 

trucking, storing, drying, and artificial insemination. 

Cotton ginning cooperatives comprise almost twothirds of all service cooperatives and are often listed 

separately in this report.

Many cooperatives handle multiple commodities and provide marketing and supply services, as 

well as the facilities and equipment used to perform 

these services. These associations are classified according to the predominant commodity or function, 

as indicated by their business volume.

Organizational Membership Structures

CP further classifies marketing, supply, and 

service cooperatives into three organizational 

structures according to membership. The membership structures used are centralized, federated, and 

mixed.

Centralized

Of the 2,389 cooperatives in 2009, 2,330 were 

centralized organizations, mostly locals with individual farmer, rancher, or fishery members. Centralized cooperatives usually serve a local area or 

community, county, or several counties. Most usually perform a limited number of initial marketing 

functions. Most supply sales are at the retail level. 
2 Cooperative Statistics, 2009

0

500

1,000

1,500

2,000

2,500

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Marketing

Supply

Service

Number

Figure 1–Cooperatives in the United States, 

2000-2009

Figure 2–Distribution of Memberships, by Type of 

Cooperative, 2009

Percentages are based on 2.2 million total memberships. 1 Includes dry bean and pea, wool and mohair, rice, sugar, fishery, and other product marketing cooperatives.

Nut

0.7%

Other Marketing

1

2.3%

Service

4.7%

Fruit & Vegetable

1.4%

Dairy

2.4%

Livestock & Poultry

3.3%

Tobacco

2.9%

Grain & Oilseed

19.5%

Cotton

1.3%

Supply

61.9%

A few centralized cooperatives, principally regionals, operate over multistate areas and provide more vertically 

integrated services, such as processing 

products or manufacturing feed.

Bargaining associations also have 

centralized organizational structures. 

They derive all or most of their business volume from negotiating with 

distributors, processors, and other 

buyers and sellers over price, quantity, 

grade, terms of sale, and other factors 

involved in marketing products. Only 

a few bargain to purchase supplies. 

While the primary function of such an 

association is to bring buyers and sellers together to contract for the sale of 

members’ products, many bargaining 

associations now perform additional 

functions.

For example, dairy bargaining associations at 

one time only negotiated price. Now, many perform 

additional functions, such as physically handling 

part of the milk for spot sales. They, like other dairy 

marketing cooperatives, represent their members at 

Federal or State milk marketing order hearings.

Federated

The 39 federated cooperatives—two or more 

member associations organized to market products, 

purchase production supplies, or perform bargaining functions—often operate at points quite distant 

from their headquarters. Members are usually local 

cooperatives, although some are interregional associations with regional cooperative members.

Mixed

The 20 mixed cooperatives have 

individual farmer, rancher, and fishery 

members and autonomous cooperative 

members, a combination of centralized 

and federated structures. They serve 

large geographic areas, with members 

in many States, and provide a variety 

of integrated services.

II. 2009 STATISTICS 

Cooperatives’ total net business volume was $147.7 billion in 2009, while 

net income was $4.4 billion. This was 

the second highest sales and income 

year for ag cooperatives, trailing only 

2008. Falling dairy, grain and oilseed, 
Cooperative Statistics, 2009 3

Table 1–Number of cooperatives and memberships, by major business activity, 2009 

Major business 

 activity Cooperatives Memberships

Number Thousands

Bean and pea, dry edible 6 1.7

Cotton 12 29.2

Dairy 154 53.3

Fish 37 5.3

Fruit and vegetable 167 32.2

Grain and oilseed1 566 437.3

Livestock 57 73.3

Nuts 20 16.2

Poultry2 11 0.5

Rice 14 11.6

Sugar3 32 10.9

Tobacco 9 65.1

Wool and mohair 58 10.0

Other marketing4 26 6.5

Total marketing 1,169 753.0

 

Total supply 970 1,390.2

 

Artificial insemination 13 61.2

Cotton ginning 168 26.0

Other services5 44 16.7

Rice dryers 4 0.2

Storage 6 0.1

Transportation 15 0.5

Total Service 250 104.7

 

Total 2,389 2,247.8

 1 Cooperatives primarily handling grains and oilseeds, 

excluding cottonseed. 

2

 Cooperatives primarily handling eggs, turkeys, ratite, 

squab, and related products.

3

 Cooperatives primarily handling sugar beets, sugarcane, honey, and related products.

4 Cooperatives primarily handling forest products, hay, 

hops, seed marketed for growers, nursery stock,

ethanol, coffee, and other farm products not classified 

separately. Also includes manufactured food products 

and resale items marketed by cooperatives.

5

 Cooperatives primarily providing grading, testing, auctions, hulling, seed development, crop scouting, farmer 

markets, and other services.

and energy prices lowered cooperative sales and 

income in 2009. 

In 2009, agricultural cooperatives had 2.2 million 

members with $61 billion in assets and $24 billion 

in equity. Cooperatives remained a major employer 

in rural areas, using 123,000 full-time workers.

Number of Cooperatives

The 2009 survey counted 2,389 marketing, supply, and service1

 cooperatives, compared with 2,473 

in 2008. Of the 2,389 cooperatives, 1,169 primarily 

marketed products, 970 primarily handled production supplies, and 250 provided services related to 

marketing or purchasing activities (Table 1, Appendix Figure 1). 

The proportion of marketing, supply, and service 

cooperatives to the total number of cooperatives remained virtually unchanged from 2008. Marketing 

cooperatives comprise about 48 percent of all cooperatives; supply, 41 percent; and service, 11 percent 

of the total (Figure 1 and Appendix Table 1).

There was a net decrease of 84 associations (3 

percent) from 2008 to 2009, largely reflecting a 

continuing trend involving merger, acquisition, or 

dissolution. The largest decrease was 33 supply 

cooperatives, while grain and oilseed lost 19, and 

service declined by 29. 

Cooperatives are also added to the list, usually following press releases from the cooperative 

or news items, but this is not an easy process and 

probably leads to under-counting. Some cooperatives had been dropped from the list earlier but were 

added back when it was found that they were still 

in operation. Most drops occur when two or more 

cooperatives merge or combine their operations. It 

is much easier to drop a cooperative from the list 

than to add one, because undelivered mail is usually 

returned. If a new address is not found, the cooperative is dropped.

Cooperative numbers by marketing, supply, and 

service functions, by State, are shown in Table 2. 

Minnesota had the most marketing cooperatives 

with 113, while California, Illinois, and North 

Dakota all had at least 80. Texas had the most supply and service cooperatives with 146, followed by 

Minnesota with 100.

Many cooperatives operate branches to better 

1 Services include trucking, cotton ginning, storage, crop drying, artificial insemination, livestock 

shipping, and similar services affecting the form, 

quality, or location of products and supplies. They 

do not include credit, electric, telephone, or other 

such services not directly related to marketing or 

supply activities.
4 Cooperative Statistics, 2009

Table 2–Number of cooperatives, by major 

function and State, 2009

 

Supply

Function Marketing & service Total

State Number

Alabama 4 49 53

Arizona 5 4 9

Arkansas 8 31 39

California 80 47 127

Colorado 12 16 28

Florida 27 6 33

Georgia 4 8 12

Hawaii 13 3 16

Idaho 21 9 30

Illinois 83 44 127

Indiana 11 24 35

Iowa 68 41 109

Kansas 72 21 93

Kentucky 8 29 37

Louisiana 11 26 37

Maryland 4 11 15

Massachusetts 4 4 8

Michigan 23 22 45

Minnesota 113 100 213

Mississippi 11 47 58

Missouri 15 44 59

Montana 22 29 51

Nebraska 37 23 60

New Mexico 5 3 8

New York 47 8 55

North Carolina 7 5 12

North Dakota 85 83 168

Ohio 33 13 46

Oklahoma 26 34 60

Oregon 19 13 32

Pennsylvania 28 11 39

South Dakota 43 38 81

Tennessee 7 60 67

Texas 52 146 198

Utah 6 6 12

Virginia 14 40 54

Washington 37 24 61

West Virginia 12 10 22

Wisconsin 45 71 116

Wyoming 5 5 10

Other States1 42 12 54

United States 1,169 1,220 2,389

1

 Includes States with fewer than three marketing or three 

supply and service cooperatives. States with at least three 

cooperatives were: Alaska, 4; Connecticut, 5; Delaware, 3; 

Maine, 22; Maryland, 15; New Jersey, 12; South Carolina, 3; 

and Vermont, 3.

serve their members. Most branches are owned; 

others are leased. A number of the branches are formerly independent cooperatives that served a local 

community. For economic or other reasons, many 

were acquired by or merged with other cooperatives 

and are operated as branches from which to serve 

members and patrons at outlying locations. 

Grain and oilseed and supply cooperatives operated over 4,850 branches—2,072 and 2,786, respectively. Grain and oilseed cooperatives averaged 

more than three branches, while supply cooperatives 

averaged just less than three branches per cooperative. 

Memberships

Memberships in marketing, supply, and service 

cooperatives totaled an estimated 2.2 million in 

2009, down 140,000 from 2008 (Table 3). By major 

business activity, 62 percent and 20 percent were 

memberships of supply and grain and oilseed cooperatives, respectively (Appendix Table 2, Figure 2). 

Dairy cooperative memberships were only 2 percent 

of the total, but accounted for 19 percent, or $28 billion, of cooperatives’ net business volume in 2009.

Memberships in cooperatives dropped from 3.1 

million in 2000 to 2.2 million in 2009 (Figure 3). 

The long term decline largely reflects the decreasing number of farms, farmers, and ranchers in the 

United States (Appendix Figure 2). Many farmers 

and ranchers are members of more than one cooperative, and each membership is counted. Consequently, the number of memberships has exceeded 

the number of farms, but these numbers appear to 

be converging. Duplication in membership cannot 

be eliminated with current reporting methods. 

Member classification depends on the type of cooperative used and may not be related to the member’s product(s) marketed or supplies purchased. 

For example, a member may market only one of the 

products handled by the cooperative; another may 

use a cooperative classified in the marketing group 

to purchase one or more supply items. A member’s 

business with the cooperative, therefore, may not be 

in the group that represents the cooperative’s major 

business volume (the criterion for classifying cooperatives in this report). The membership, however, 
Cooperative Statistics, 2009 5

FRUITS AND VEGETABLES (continued)

Minnesota 4 0.2 0.54 0.54

New Jersey 5 0.3 185.53 108.10

New York 10 1.1 75.37 75.07

Oregon 10 0.8 556.66 491.83

Pennsylvania 3 0.3 450.96 450.96

Texas 4 0.2 93.99 82.55

Washington 14 2.9 781.93 764.09

Other States 33 3.1 968.64 425.59

Foreign7 0 0.2 222.41 86.59

United States 167 32.0 7,582.67 5,480.88

 

GRAINS AND OILSEEDS8

 

California 3 0.4 20.95 20.95

Colorado 7 4.7 301.77 301.14

Idaho 3 0.5 56.10 56.10

Illinois 77 55.2 4,600.71 4,597.56

Indiana 7 5.1 829.46 829.46

Iowa 59 62.1 8,162.07 8,038.08

Kansas 72 79.4 2,851.19 2,845.94

Minnesota 67 34.9 5,221.70 5,196.17

Mississippi 4 5.6 336.68 333.66

Missouri 8 11.7 940.86 609.70

Montana 6 1.6 407.35 407.35

Nebraska 32 56.9 4,042.46 4,037.35

North Dakota 70 24.2 2,646.06 2,644.80 

Ohio 26 21.8 1,623.70 1,623.07

Oklahoma 23 15.8 336.91 336.91

South Dakota 42 25.1 2,231.90 2,230.43

Texas 31 12.1 630.72 630.72

Washington 14 7.8 532.66 532.66

Other States 15 12.5 2,586.94 2,543.41

Foreign7

 0 0.0 6,084.00 6,084.00

United States 566 437.4 44,444.18 43,899.44

(continued next page)

Table 3–Number1 of cooperatives, memberships2, and gross and net sales by State, 20093

Headquartered Member- Business volume

State in State ships Gross4 Net5

Number Thousands Millions

BEANS AND PEAS, DRY EDIBLE 

United States 6 1.7 169.69 167.34

 

COTTON6

 

Texas 4 14.6 650.17 216.16

Other States 8 14.7 1,017.23 152.68

Foreign7 0 0.0 2.74 2.74

United States 12 29.2 1,670.14 371.57

 

DAIRY 

California 5 1.4 4,442.95 4,343.18

Idaho 3 0.3 358.12 358.12

Illinois 4 2.1 1,349.52 1,243.51

Iowa 4 2.2 1,278.44 1,116.53

Minnesota 26 6.9 2,891.69 2,620.68

New Mexico 4 0.1 501.31 465.22

New York 34 3.5 2,207.61 1,783.42

Pennsylvania 14 3.9 1,110.00 1,005.29

Wisconsin 26 14.7 3,757.87 3,347.15

Other States 34 18.0 12,778.58 11,454.79

Foreign7 0 0.0 158.67 156.34

United States 154 53.0 30,834.76 27,894.23

FISH

Maine 14 569 0.90 0.90

Other States 23 4,727 195.68 195.68

United States 37 5,296 196.58 196.58

FRUITS AND VEGETABLES 

Arizona 4 0.8 76.45 43.25

California 41 11.8 2,531.60 1,914.03

Florida 19 9.1 827.95 287.57

Hawaii 7 0.2 7.77 7.77

Michigan 13 1.1 802.88 742.95

Headquartered Member- Business volume

State in State ships Gross4 Net5

Number Thousands Millions

1

 Includes centralized and federated cooperatives and those 

with mixed organizational structures. Headquartered in the 

State listed. 

2

 Includes voting farmer-members, but not nonvoting patrons. 

(Duplication in these membership figures occurs because 

many farmers belong to more than one cooperative.) Memberships include members of cooperatives not headquartered in 

the State listed. Totals may not add due to rounding. 

3

 Data covering operations of cooperatives for fiscal years 

ended in 2009. States listed are those with more than two 

cooperatives or where disclosure was not a problem.

4

 Gross business volume includes sales between cooperatives. Gross sales include sales of cooperatives not headquartered in the State listed. Totals may not add due to rounding. 

5

 Net business volume excludes sales between cooperatives. 

Net sales include sales of cooperatives not headquartered in 

the State listed. Totals may not add due to rounding. 

6

 Cotton ginning cooperatives are included as service cooperatives.

7

 Includes memberships, marketing, and sales in other countries.

8

 Excludes oilseed meal and oil. Oilseed meal is included in 

feed sales whereas oil sales are included in other marketing 

sales.
6 Cooperative Statistics, 2009

Table 3–Number1 of cooperatives, memberships2, and gross and net sales by State, 20093

Headquartered Member- Business volume

State in State ships Gross4 Net5

Number Thousands Millions

Headquartered Member- Business volume

State in State ships Gross4 Net5

Number Thousands Millions

LIVESTOCK 

North Dakota 5 0.6 25.17 25.17

West Virginia 3 0.2 3.31 3.31

Wisconsin 16 45.9 414.95 414.95

Other States 33 25.1 2,684.91 2,581.70

United States 57 71.8 3,128.35 3,025.13 

NUT 

California 10 4.4 745.50 745.50

Other States 10 11.5 89.14 89.14

United States 20 16.0 834.65 834.65

POULTRY9

 

California 3 0.1 204.29 204.29

Other States 8 0.5 966.43 966.43

United States 11 0.5 1,170.72 1,170.72 

RICE 

California 4 0.9 354.60 354.60

Texas 5 0.7 49.04 49.04

Other States 5 10.0 1,282.53 1,282.53

United States 14 11.6 1,686.17 1,686.17 

SUGAR10 

Idaho 6 1.4 594.74 8.19

Louisiana 4 0.6 567.86 468.05

Minnesota 3 2.5 1,687.56 1,681.51

Wyoming 4 0.4 37.84 37.84

Other States 15 5.6 2,100.78 2,016.61

Foreign7 0 0.1 7.53 7.53

United States 32 10.7 4,996.30 4,219.72

TOBACCO 

Tennessee 6 64.0 5.33 5.33

Other States 3 1.0 162.56 162.56

United States 9 65.1 167.89 167.89 

WOOL AND MOHAIR 

Idaho 3 0.1 0.02 0.02

Montana 12 0.4 0.40 0.40

North Dakota 3 0.3 0.03 0.03

Pennsylvania 10 0.9 0.15 0.15

Virginia 6 0.4 0.03 0.03

West Virginia 9 0.7 0.12 0.12

Other States 15 7.1 4.97 4.97

Foreign7 0 0.1 0.09 0.09

United States 58 9.9 5.80 5.80

OTHER MARKETING11 

Florida 3 0.0 34.49 34.49

Minnesota 10 4.4 1,548.95 1,489.19

Other States 13 2.0 3,636.66 3,318.76

United States 26 6.5 5,220.10 4,842.43 

TOTAL MARKETING 

Alabama 4 2.7 276.55 276.55

Alaska 4 3.0 7.86 7.86

Arizona 5 1.1 697.84 638.45

Arkansas 8 11.9 2,241.63 2,140.75

California 80 21.5 8,666.93 7,917.08

Colorado 12 7.5 676.16 675.02

Florida 27 9.8 2,012.03 1,471.65

Georgia 4 7.9 492.22 475.47

Hawaii 13 0.5 9.65 9.65 

Idaho 21 4.6 1,124.67 537.69

Illinois 83 58.9 6,156.49 6,047.34

Indiana 11 8.2 1,682.67 1,654.66

Iowa 68 66.9 10,642.79 10,335.27

Kansas 72 81.2 3,572.57 3,437.43

Kentucky 8 4.3 509.25 505.55

Louisiana 11 4.5 1,055.94 939.82

Maine 20 1.5 114.82 114.25

Massachusetts 4 0.4 382.26 183.81

Michigan 23 9.1 2,539.61 2,430.07

Minnesota 113 50.1 11,510.83 11,148.00

Mississippi 11 9.2 705.03 698.20

Missouri 15 19.2 3,896.10 3,077.93

Montana 22 2.3 577.58 576.70

Nebraska 37 58.6 5,098.96 4,903.35

New Jersey 10 1.5 257.13 167.66

New Mexico 5 0.8 524.05 487.96

New York 47 4.8 2,511.58 2,002.00

North Carolina 7 2.6 364.05 345.35

North Dakota 85 27.7 3,644.32 3,599.77

Ohio 33 26.3 2,431.17 2,379.87

Oklahoma 26 20.1 654.05 625.18

9

 Includes eggs, turkeys, ratite, squab, and related products.

10 Includes sugar, sugarcane, sugar beets, honey, maple syrup, 

molasses, and sorghum.

11 Includes forest products, hay, hops, seed marketed for growers, nursery stock, ethanol, coffee, and other marketing not 

classified separately. Also includes manufactured food products and resale items marketed by cooperatives.

(Continued)
Cooperative Statistics, 2009 7

TOTAL MARKETING (continued)

Oregon 19 5.4 1,963.40 1,851.58

Pennsylvania 28 5.1 1,566.68 1,461.97

South Dakota 43 26.5 2,752.75 2,703.07

Tennessee 7 66.1 119.70 73.92

Texas 52 31.2 3,410.16 3,202.15

Utah 6 2.6 395.89 384.16

Vermont 3 1.2 377.02 377.02

Virginia 14 3.4 429.13 399.65

Washington 37 12.1 3,082.46 3,055.67

West Virginia 12 1.0 17.09 15.85

Wisconsin 45 63.1 5,618.03 4,776.20

Wyoming 5 0.7 87.22 87.02

Other States 9 3.6 700.65 649.10

Foreign7 0 0.5 6,551.01 6,393.45

United States 1,169 751.3 102,107.99 95,241.15

 

SUPPLIES PROVIDED 

 

CROP PROTECTANTS12 

Alabama 96.48 81.03

Arkansas 219.44 156.87

California 38.17 32.10

Colorado 53.38 44.96

Florida 47.39 23.50

Georgia 99.50 78.36

Idaho 66.04 43.31

Illinois 929.95 691.60

Indiana 515.15 428.64

Iowa 730.55 582.47

Kansas 305.71 234.35

Kentucky 70.36 57.58

Louisiana 63.27 37.33

Maryland 23.69 20.66

Massachusetts 1.26 0.46

Michigan 50.53 34.63

Minnesota 565.27 418.17

Mississippi 85.21 63.63

Missouri 162.68 109.86

Montana 232.00 118.07

Nebraska 539.21 376.68

New York 26.66 12.57

North Dakota 370.34 264.21

Ohio 203.37 147.41

Oklahoma 45.93 37.51

Table 3–Number1 of cooperatives, memberships2, and gross and net sales by State, 20093

Headquartered Member- Business volume

State in State ships Gross4 Net5

Number Thousands Millions

Headquartered Member- Business volume

State in State ships Gross4 Net5

Number Thousands Millions

CROP PROTECTANTS12 (continued)

Oregon 313.85 186.04

Pennsylvania 61.27 35.35

South Dakota 435.14 272.81

Tennessee 160.79 98.60

Texas 152.63 83.41

Utah 15.79 12.87

Virginia 34.68 33.67

Washington 387.69 256.66

West Virginia 3.39 3.39

Wisconsin 386.49 231.10

Wyoming 9.65 8.74

Other States 113.15 86.99

Foreign7 68.53 46.12

United States 7,684.62 5,451.72

 

FEED12 

Alabama 82.22 51.27

Arkansas 124.66 102.68

California 623.56 455.06

Colorado 83.98 75.00

Florida 131.50 106.37

Georgia 83.80 69.22

Idaho 64.16 49.24

Illinois 534.64 424.92

Indiana 231.13 196.33

Iowa 1,922.50 1,656.22

Kansas 275.67 230.61

Kentucky 97.86 91.06

Louisiana 112.89 92.72

Maryland 72.08 64.02

Massachusetts 42.55 31.24

Michigan 159.20 140.10

Minnesota 1,316.68 1,088.82

Mississippi 95.95 79.82

Missouri 467.03 351.73

Montana 71.09 21.83

Nebraska 415.99 324.14

New York 94.58 72.21

North Dakota 155.39 118.74

Ohio 329.50 288.38

Oklahoma 115.38 98.71

Oregon 140.51 76.39

Pennsylvania 219.28 162.03

South Dakota 366.69 253.40

Tennessee 276.09 174.31

Texas 415.96 324.93

Utah 135.04 128.78

(continued next page)

12 Headquartered in State and membership values are not collected for individual supply products; rather, they are collected 

for total supplies.

(Continued)
8 Cooperative Statistics, 2009

Table 3–Number1 of cooperatives, memberships2, and gross and net sales by State, 20093

Headquartered Member- Business volume

State in State ships Gross4 Net5

Number Thousands Millions

Headquartered Member- Business volume

State in State ships Gross4 Net5

Number Thousands Millions

FEED12 (continued)

Virginia 212.74 203.10

Washington 133.63 67.03

West Virginia 30.42 29.79

Wisconsin 705.00 570.59

Wyoming 10.75 9.28

Other States 505.88 381.19

Foreign7 236.73 164.34

United States 11,092.72 8,825.60

FERTILIZER12 

Alabama 86.90 86.90

Arkansas 140.01 132.23

California 144.29 144.29

Colorado 108.46 106.54

Florida 122.45 93.91

Georgia 103.14 99.72

Idaho 46.21 46.21

Illinois 1,553.65 1,346.72

Indiana 673.79 668.29

Iowa 1,530.81 1,367.53

Kansas 571.03 562.42 

Kentucky 166.69 162.64

Louisiana 20.39 20.13

Maryland 42.90 42.74

Massachusetts 11.66 8.18

Michigan 97.17 94.78

Minnesota 1,026.50 901.80

Mississippi 39.33 36.99

Missouri 418.08 332.17

Montana 329.02 207.75

Nebraska 958.57 826.56

New York 39.13 28.44

North Dakota 407.82 407.82

Ohio 525.34 484.88

Oklahoma 132.01 126.51

Oregon 364.89 243.61

Pennsylvania 73.70 54.14

South Dakota 550.98 429.73

Tennessee 257.78 200.16

Texas 106.49 106.49

Utah 39.02 35.84

Virginia 140.65 136.71

Washington 409.27 287.00

West Virginia 14.09 13.94

Wisconsin 633.95 492.94

Wyoming 11.77 11.71

FERTILIZER12 (continued)

Other States 266.50 247.41

Foreign7 90.57 62.81

United States 12,254.98 10,658.64

PETROLEUM12, 13 

Alabama 7.99 7.98

Arkansas 169.17 161.14

California 4.04 3.74

Colorado 676.19 416.21

Florida 7.68 5.27

Georgia 379.48 122.76

Idaho 466.49 225.83

Illinois 2,287.25 1,593.35

Indiana 1,823.35 1,120.75

Iowa 1,826.66 1,416.66

Kansas 1,242.34 882.28

Kentucky 164.32 125.41

Louisiana 10.62 10.47

Maryland 139.75 139.75

Massachusetts 0.02 0.02

Michigan 529.05 232.55

Minnesota 1,555.01 1,309.91

Mississippi 17.54 15.60

Missouri 1,548.23 1,141.06

Montana 725.56 548.47

Nebraska 1,301.71 932.78

New York 2.61 2.47

North Dakota 1,130.52 877.80

Ohio 452.73 354.12

Oklahoma 747.48 379.71

Oregon 488.57 296.04

Pennsylvania 6.02 5.87

South Dakota 766.84 498.71

Tennessee 550.47 222.90

Texas 343.67 291.09

Utah 363.62 112.26

Virginia 674.90 404.25

Washington 570.91 399.77

West Virginia 57.89 57.89

Wisconsin 1,261.06 981.48

Wyoming 450.02 273.11

Other States 79.41 79.21

Foreign7 521.04 195.26

United States 23,350.20 15,843.91

(Continued)

13 Includes all types of petroleum products and lubricants as 

well as bioenergy fuels such as ethanol and biodiesel.
Cooperative Statistics, 2009 9

Table 3–Number1 of cooperatives, memberships2, and gross and net sales by State, 20093

Headquartered Member- Business volume

State in State ships Gross4 Net5

Number Thousands Millions

Headquartered Member- Business volume

State in State ships Gross4 Net5

Number Thousands Millions

SEED12 

Alabama 35.69 24.89

Arkansas 67.45 52.62

California 44.66 29.89

Colorado 29.89 14.26

Florida 4.35 3.73

Georgia 18.94 16.09

Idaho 19.22 9.79

Illinois 535.84 383.63

Indiana 193.14 105.91

Iowa 561.78 348.94

Kansas 129.95 82.35

Kentucky 53.98 43.93

Louisiana 27.45 15.41

Maryland 12.24 11.13

Massachusetts 0.85 0.85

Michigan 32.49 17.97

Minnesota 448.87 251.50

Mississippi 42.49 22.52

Missouri 96.38 73.04

Montana 27.52 24.66

Nebraska 222.97 150.38

New York 6.17 2.82

North Dakota 224.90 115.71

Ohio 163.37 94.01

Oklahoma 9.15 7.66

Oregon 42.87 39.90

Pennsylvania 8.62 5.54

South Dakota 259.15 143.02

Tennessee 140.35 83.48

Texas 57.51 36.79

Utah 5.78 3.91

Virginia 39.35 38.49

Washington 53.34 48.50

West Virginia 5.71 5.46

Wisconsin 243.08 154.50

Wyoming 2.64 1.28

Other States 62.15 51.85

Foreign7 2.12 1.38

United States 3,932.39 2,517.80

 

OTHER SUPPLIES12, 14 

Alabama 70.53 67.35

Arkansas 88.86 77.73

California 163.48 158.08

Colorado 89.45 81.86

OTHER SUPPLIES12, 14 (continued)

Florida 42.54 42.47

Georgia 58.00 36.54

Idaho 50.99 41.74

Illinois 262.21 175.97

Indiana 163.67 128.44

Iowa 250.19 216.49

Kansas 95.69 86.75

Kentucky 116.42 92.98

Louisiana 20.72 20.63

Maryland 32.71 30.94

Massachusetts 16.62 16.56

Michigan 99.37 84.39

Minnesota 329.95 298.87

Mississippi 44.83 43.08

Missouri 209.36 171.21

Montana 71.99 67.83

Nebraska 125.60 119.76

New York 28.55 28.08

North Dakota 316.90 310.28

Ohio 96.60 81.71

Oklahoma 53.09 45.70

Oregon 267.57 265.34

Pennsylvania 24.58 22.05

South Dakota 113.81 108.59

Tennessee 278.37 182.27

Texas 107.68 96.59

Utah 89.76 74.71

Virginia 181.84 177.71

Washington 170.73 133.23

West Virginia 35.95 35.92

Wisconsin 378.80 359.46

Wyoming 34.17 31.90

Other States 243.36 201.58

Foreign7 17.95 9.81

United States 4,842.88 4,224.60

 

SUPPLY 

Alabama 42 27.9 379.80 319.44

Arkansas 28 30.8 809.59 683.27

California 16 14.4 1,018.19 823.16

Colorado 15 16.3 1,041.36 738.83

Florida 6 10.6 355.91 275.26

Georgia 5 15.2 742.86 422.67

Idaho 7 8.1 713.10 416.12

Illinois 43 71.0 6,103.52 4,616.18

Indiana 22 46.2 3,600.23 2,648.36

Iowa 41 41.7 6,822.49 5,588.31

(continued next page)

14 Includes building materials, containers and packaging 

supplies, machinery and equipment, meats and groceries, 

automotive supplies, hardware, chicks, and other supplies not 

separately classified.

(Continued)
10 Cooperative Statistics, 2009

Table 3–Number1 of cooperatives, memberships2, and gross and net sales by State, 20093

Headquartered Member- Business volume

State in State ships Gross4 Net5

Number Thousands Millions

Headquartered Member- Business volume

State in State ships Gross4 Net5

Number Thousands Millions

SUPPLY (continued)

Kansas 20 24.5 2,620.40 2,078.76

Kentucky 28 192.7 669.63 573.59

Louisiana 18 5.4 255.33 196.70

Maryland 11 43.0 323.37 309.23

Massachusetts 3 2.2 72.96 57.32

Michigan 20 40.0 967.81 604.43

Minnesota 96 79.7 5,242.28 4,269.08

Mississippi 30 28.5 325.36 261.64

Missouri 44 79.2 2,901.77 2,179.06

Montana 29 24.9 1,457.18 988.61

Nebraska 21 14.5 3,564.05 2,730.30

New York 6 1.4 197.71 146.60

North Dakota 82 53.5 2,605.87 2,094.56

Ohio 10 13.0 1,770.91 1,450.51

Oklahoma 24 17.1 1,103.06 695.80

Oregon 12 24.2 1,618.26 1,107.31

Pennsylvania 7 4.4 393.48 284.99

South Dakota 38 32.1 2,492.60 1,706.27

Tennessee 59 63.7 1,663.84 961.71

Texas 34 28.2 1,183.94 939.29

Utah 5 3.2 649.01 368.37

Virginia 37 130.1 1,284.16 993.92

Washington 22 12.1 1,725.56 1,192.19

West Virginia 10 69.0 147.44 146.38

Wisconsin 63 72.0 3,608.38 2,790.08

Wyoming 5 4.0 519.00 336.03

Other States 11 45.8 1,270.45 1,048.22

Foreign7 0 1.4 936.94 479.72

United States 970 1,391.9 63,157.79 47,522.28

SERVICE15 

Alabama 7 0.3 22.60 22.60

Arizona 4 0.2 11.50 11.50

Arkansas 3 1.8 56.84 56.84

California 31 1.7 319.22 319.22

Georgia 3 0.3 14.85 14.85

Louisiana 8 0.5 17.96 17.96

Minnesota 4 8.4 850.84 850.84

Mississippi 17 14.0 69.94 69.94

North Carolina 3 0.1 12.30 12.30

North Dakota 3 7.7 58.28 58.28

Ohio 3 2.7 161.13 161.13

SERVICE15 (continued)

Oklahoma 10 4.2 60.49 60.49

Pennsylvania 4 0.1 6.29 6.29

Texas 112 18.4 363.08 363.08

Virginia 3 9.0 36.44 36.44

Wisconsin 8 16.6 178.95 178.95

Other States 30 26.3 2,795.18 2,795.18

United States 250 104.7 4,977.61 4,977.61

TOTAL 

Alabama 53 30.8 678.96 618.59

Alaska 4 3.0 158.82 107.94

Arizona 9 1.7 769.40 693.61

Arkansas 39 44.5 3,108.05 2,880.85

California 127 37.7 10,004.33 9,059.46

Colorado 28 23.9 1,787.03 1,483.36

Connecticut 5 0.6 263.74 249.84

Delaware 3 9.9 130.12 116.97

Florida 33 20.3 2,462.42 1,841.39

Georgia 12 23.4 1,249.93 912.99

Hawaii 16 0.7 18.90 17.96

Idaho 30 12.7 1,880.65 996.70

Illinois 127 129.8 12,682.68 11,086.18

Indiana 35 54.6 5,468.90 4,489.01

Iowa 109 114.7 18,081.69 16,539.99

Kansas 93 105.8 6,462.60 5,785.83

Kentucky 37 198.6 1,189.10 1,089.37

Louisiana 37 10.4 1,329.23 1,154.48

Maine 22 5.4 198.95 191.99

Maryland 15 44.3 696.57 639.09

Massachusetts 8 3.0 454.82 240.73

Michigan 45 50.3 3,559.35 3,086.42

Minnesota 213 138.2 17,603.95 16,267.92

Mississippi 58 51.7 1,100.32 1,029.78

Missouri 59 98.4 6,988.15 5,447.28

Montana 51 27.3 2,056.68 1,587.23

Nebraska 60 73.2 8,968.52 7,939.16

New Jersey 12 1.7 374.07 252.17

New Mexico 8 1.2 592.56 535.21

New York 55 6.4 2,727.97 2,167.28

North Carolina 12 31.3 779.26 721.59

North Dakota 168 87.2 6,397.31 5,841.44

Ohio 46 41.9 4,363.21 3,991.51

Oklahoma 60 41.4 1,817.59 1,381.47

Oregon 32 29.8 3,637.52 3,014.74

Pennsylvania 39 9.5 1,966.45 1,753.24

South Carolina 3 3.5 185.02 169.29

South Dakota 81 64.6 5,368.84 4,532.84

Tennessee 67 131.3 1,825.29 1,077.38

15 Includes cooperatives providing services such as cotton ginning, livestock shipping, storing, grinding, drying, and artificial 

insemination. Sales include charges for services related to 

marketing or purchasing, but not included in the volume reported for those activities, plus other income.

(Continued)
Cooperative Statistics, 2009 11

Table 3–Number1 of cooperatives, memberships2

, and gross and net sales by State, 

20093

Headquartered Member- Business volume

State in State ships Gross4 Net5

Number Thousands Millions

TOTAL (continued)

Texas 198 77.7 4,957.18 4,504.52

Utah 12 6.9 1,062.65 770.27

Vermont 3 1.2 408.41 406.39

Virginia 54 142.6 1,749.73 1,430.01

Washington 61 25.7 4,894.86 4,334.70

West Virginia 22 70.0 165.25 162.95

Wisconsin 116 151.7 9,405.36 7,745.24

Wyoming 10 4.7 610.69 427.51

Other States 2 0.7 112.36 93.99

Foreign7, 16 0 1.8 7,487.95 6,873.17

United States 2,389 2,247.8 170,243.39 147,741.03

16 The 2009 survey collected both State and U.S. information, 

while information in the previous report, Cooperative Statistics, 

2008, used factors from 2007 to estimate State information for 

this table. Data from 2009 indicate gross cooperative exports of 

$7.5 billion, while published information for 2008 was $2.7 billion, 

indicating an enormous increase in cooperative gross exports. 

This estimation based on 2007 data was in error; the corrected 

value should be in excess of $7.5 billion for 2008.

(Continued)

will be included arbitrarily in that classification.

During the past decade, memberships in marketing cooperatives decreased at about twice the rate 

of memberships in service and supply cooperatives. 

Memberships in marketing cooperatives dropped 

490,000 (40 percent) while service cooperatives had 

a decline of 20,000 (16 percent), and supply cooperatives decreased 328,000 (19 percent). 

Employees

Cooperatives had an estimated 123,000 fulltime employees in 2009, a decrease of about 1,830 

from 2008 (Table 4), and far less than the peak of 

176,665 in 2000. Marketing cooperatives had virtually no change in full-time employees, while supply 

cooperatives had a decrease of 1,280 employees, 

and service cooperatives declined by 548. 

Cooperatives employ full-time and, in most 

cases, part-time and seasonal employees to run 

their operations. Their number and type depend on 

a number of factors, such as size of operation, type 

of commodity handled, and involvement in valueadded activities. 

In 2009, cooperatives employed an estimated 

180,000 full-time and part-time and seasonal employees (Table 5), up 2,172 from 2008. Among marketing cooperatives, those primarily handling fruits 

and vegetables had the most employees (31,200), 

followed by grains and oilseeds (31,000), then dairy 

(28,000). 

By type, marketing cooperatives had 113,000 

full-time and part-time and seasonal employees (63 

percent of total); supply cooperatives had 59,000 

(33 percent); and service cooperatives had 8,000 (4 

percent). 

Figure 4 shows the number of full-time and 

part-time and seasonal employees by type of cooperative for 2009. Supply, fruit and vegetable, grain 

and oilseed, and dairy cooperatives used the most 

employees; fish cooperatives the fewest. Dairy, rice, 

cotton, and fish cooperatives had the smallest proportion of part-time and seasonal employees to total 

employees. Cotton ginning and fruit and vegetable 

cooperatives had more than half of their employees 

as part-time and seasonal employees, while over 45 

percent of employees sugar cooperatives were parttime and seasonal. 

Cooperatives used 58,000 part-time and seasonal 

employees in 2009, up about 4,000, or 7 percent, 

from 2008. Much of the increase was in grain and 

oilseed and fruit and vegetable cooperatives. 

In 2009, marketing cooperatives reported 38,000 

part-time and seasonal employees, or 66 percent of 

that type of worker used. Marketing cooperatives 

averaged 33 part-time and seasonal employees per 

cooperative. Fruit and vegetable cooperatives, with 

about 18,000, accounted for about 31 percent of all 

part-time and seasonal employees used by cooperatives. Supply cooperatives had about 16,000 parttime and seasonal employees, an average of 16 per 

cooperative.

Most types of marketing cooperatives operated 

with more employees than did supply cooperatives. 

For example, sugar cooperatives averaged 322 employees; rice, 205; fruit and vegetable, 187; while 

supply cooperatives averaged 61 (Figure 5).

Business Size

Most cooperatives, as measured by annual gross 

business volume, are relatively small and serve lo-
12 Cooperative Statistics, 2009

0 50 100 150 200 250 300 350 400

Sugar

Rice

Fruits and Vegetables

Dairy

Cotton

Supply

Grain and Oilseeds

Other Service

Livestock and Poultry

Cotton Ginning

Fish

Number

1 Includes dry bean and pea, nut, tobacco, wool and mohair, and other product marketing cooperatives.

Other Marketing1

Full-Time

Part-Time and Seasonal

Figure 5–Average Full-Time and Part-Time and 

 Seasonal Employees, 2009

0

1

2

3

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Service

Supply

Marketing

Millions

Figure 3–Cooperative Memberships by Function,

 2000-2009

0 10 20 30 40 50 60 70

Supply

Fruits and Vegetables

Grain and Oilseeds

Dairy

Sugar

Cotton Ginning

Other Service

Livestock and Poultry

Rice

Cotton

Fish

1,000 Employees

1 Includes dry bean and pea, nut, tobacco, wool and mohair, and other product marketing cooperatives.

Full-Time

Part-Time and Seasonal

Other Marketing1

Figure 4–Full-Time and Part-Time and Seasonal 

 Employees, by Cooperative Type, 2009

cal areas. Some actively seek regional, 

national, and even international markets 

to increase business volume. Although 

few in number, larger cooperatives account for much of cooperatives’ business volume. They have grown in size 

partly from mergers, consolidations, and 

acquisitions. From 2000 to 2009, there 

were 1,221 fewer cooperatives with less 

than $25 million in sales, while there 

were 264 cooperatives that moved up 

into the sales group of more than $25 

million in sales. The sales group of 

$200 to $499.9 million had the most 

growth, increasing from 38 cooperatives 

in 2000 to 137 in 2009 (Table 6).

In 2009, 57 percent of all cooperatives reported a business volume of less 

than $15 million. However, they accounted for less than 4 percent of the 

total gross dollar volume (Figure 6). 

About 8 percent of cooperatives reported a business volume of at least 

$200 million, but they accounted for 70 

percent of the total sales.

Business Volume

Total gross business volume of the 

2,389 marketing, supply, and service cooperatives for 2009 was $170.2 billion 

(table 7), down 11 percent from $191.9 

billion in 2008. Historically, gross business volume fell from the record $128 

billion in 1996 to $112 billion in 2002; 

however, this has not been a steady 

decline—some years saw increases to 

over $120 billion while other years fell 

to $115 billion or less (Appendix Table 

3, Appendix Figure 4). The historic high 

of 1996 was almost matched in 2006 

and then was eclipsed in 2007 through 

2009. Much of the volume decline between 2008 and 2009 can be attributed 

to lower grain, oilseed, and dairy prices, 

as well as lower energy costs. 

Gross dollar volume of products 

marketed by cooperatives decreased 

almost $15 billion, from $117 billion 
Cooperative Statistics, 2009 13

0

20

40

60

80

100

120

140

160

180

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

1

Actual sales were adjusted for price change based on 1991 = 100.

Billion dollars

Actual

Real

1

Figure 7–Cooperatives’ Net Business Volume, Actual

 and Adjusted, 2000-2009

0

10

20

30

40

50

60

70

Less than 5.0 5 - 9.9 10 - 14.9 15 - 99.9 100 - 499.9 500 and more

Gross Business Volume (Million Dollars )

Percent

Cooperatives

DollarVolume

Figure 6–Distribution of Cooperatives and

 Volume, by Size, 2009

in 2008 to $102 billion in 2009 (-13 

percent). Dairy cooperatives had a $9.3 

billion decrease in sales due to lower 

prices while grain and oilseed cooperatives decreased sales $2.9 billion, 

again from lower prices. Cotton fell 

$1.4 billion from decreased production 

due in part to increased production of 

both soybeans and corn. Gross volume 

of all supplies handled by cooperatives 

was $63 billion, down 10 percent from 

$70 billion in 2008, with the decrease 

mainly due to lower energy and ingredient prices. 

Total net business volume of cooperatives in 2009 was $148 billion—$95 

billion from products marketed, $48 

billion from supply sales, and $5 billion from services performed and other 

income sources. The total net figure, 

which excludes inter-cooperative 

business, was down 11 percent from 

$165.3 billion in 2008. The $148 billion was the second highest total ever, 

following only the record net business 

volume of 2008 (Appendix Table 4, 

Appendix Figure 5). There have been a 

number of fluctuations in net business 

volume. It dropped to around $100 

billion in 1999 and stayed there except for the current upward trend that 

started in 2003, and expanded due to 

increased grain and oilseed prices and 

energy costs in 2007 and 2008. Adjusted for inflation2

 where 1991 = 100, net 

business volume totaled $100 billion in 2000 and 

increased to $165 billion in 2008, before falling to 

$148 billion in 2009 (Figure 7). The difference between actual and real net business volume in 2009 

was $19 billion. The real net business volume was 

lower than the actual value in 2009 because prices 

2”Marketing sales” was deflated by the index of producer prices received for “all farm products” (1991 

= 100). Supply sales and service receipts and other 

income were deflated by the index of prices paid by 

farmers for “production items,” excluding interest, 

taxes, and wages (1991 = 100).

paid for production inputs increased more than 

prices received for farm products. The index for 

prices received for all farm commodities from 2000 

to 2009 rose 43 points, while the index for prices 

paid for farm production items increased 54 points: 

hence the gap between actual and real cooperative 

net business volume when adjusted by prices paid 

and prices received for farm production. 

Net volume of products marketed decreased from 

2008, from $110 billion to $95 billion—a decrease 

of 13 percent. Net marketing business volume accounted for 64 percent of total cooperative sales in 

2009, down 2 points from 2008.

Figure 8 illustrates the leading products marketed 
14 Cooperative Statistics, 2009

Fertilizer

22.4%

Other Supplies

8.9%

Seed

5.3%

Petroleum

33.3%

Crop Protectants

11.5% Feed

18.6%

Percentages are based on a total net supply business volume of $47.5 billion. 1 Includes building materials, tires, batteries and accessories, equipment, animal health products, pet food, semen, hardware, food, clothing, and

other.

1

Figure 9–Relative Importance of Supplies 

 Handled by Cooperatives, 2009

sales were up $5 billion from 2000, 

while grains and oilseeds sales were up 

$26 billion. Net volume among commodity groups was highest in 2009 for 

grains and oilseeds with $44 billion 

($18 billion in 2000), followed by dairy 

with $28 billion. 

In the supply group, feed and fertilizer were important farm inputs (Figure 11) but petroleum was especially 

important with sales $5 billion more 

than either feed or fertilizer. The combination of petroleum, feed, and fertilizer sales accounted for 74 percent of 

cooperatives’ total supply sales in 2009 

and 70 percent in 2000. 

Gross and net business volumes by 

State are presented in Table 3. Sales 

are allocated to the State in which the 

product marketed was originated and 

the supplies were sold. Iowa led all States in total 

gross and net business volume, with $18.1 billion 

and $16.5 billion, respectively; followed by Minnesota, with $17.6 billion in gross business and $16.3 

billion in net business volume.

Balance Sheet

The balance sheet of a cooperative states its 

financial position at the end of a 12-month fiscal 

Fish

0.2%

Milk & Milk

Products

29.3%

Livestock

3.2%

Rice

1.8%

Grain & Oilseed

46.1%

Poultry

1.2%

Cotton

2.1%

Other Marketing

4.9%

Sugar

4.4%

Nut

0.9%

Tobacco

0.2%

Fruit & Vegetable

5.7%

Percentages are based on a total net marketing business volume of $95.2 billion. 1 Includes wool and mohair, dry beans and peas, and other product marketing.

1

Figure 8–Relative Importance of Products 

 Marketed by Cooperatives, 2009

by cooperatives based on net marketing business 

volume. Grains and oilseeds led with 46 percent, 

followed by dairy (milk and milk products) with 29 

percent, and fruit and vegetable with 6 percent. 

Net supply volume of $48 billion, down 6 percent 

from $51 billion, accounted for 32 percent of the 

total net business volume. The leading production 

goods handled by cooperatives in terms of supply 

net business volume were petroleum, 33 percent; 

fertilizer, 22 percent; and feed, 19 percent (Figure 

9). Petroleum sales decreased by more 

than $3 billion over 2008 sales while 

other supplies sales were down $1 

billion. Net sales of crop protectants 

increased $1 billion while fertilizer 

increased by $0.7 billion. 

Receipts for services provided by 

marketing, supply, and service cooperatives, plus other income, increased 3 

percent to $5.0 billion. Service receipts 

and other income represented 3 percent 

of total net business volume.

Marketing sales of four major commodity groups—dairy, grains and 

oilseeds, fruits and vegetables, and 

livestock—were up slightly from 81 

percent of marketing sales in 2000 to 

84 percent in 2009 (Figure 10). Dairy 
Cooperative Statistics, 2009 15

0

10

20

30

40

50

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Grain & Oilseed

Livestock

Billion dollars

Milk & Milk

Products

Fruit& Vegetable

46 Figure 10–Cooperatives’ Net Sales of Selected 

 Commodities, 2000-2009

0

5

10

15

20

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Fertilizer

Seed

Billion dollars

Petroleum

Crop Protectants

Feed

Figure 11–Cooperatives’ Net Sales of Selected 

 Supplies, 2000-2009

year. The balance sheet represents the cooperative’s 

assets, liabilities, member equity, and their mutual 

relationship. Combined assets for all cooperatives 

totaled $61 billion in 2009, almost $8 billion lower 

than 2008 (Table 8). Total assets of cooperatives, 

excluding inter-cooperative investments, decreased 

by $8 billion to $57 billion. Cooperatives’ total assets grew from $50 billion in 2000 to $61 billion in 

2009 (Appendix Table 5 and Figure 12). 

In 2000, $5.1 billion (10 percent of total assets) 

were invested in other cooperatives, 

including CoBank, and this peaked at 

$5.5 billion in 2002. In 2009, these investments were $4.0 billion, down $1.1 

billion from 2000, and at 6.6 percent 

of total assets, 3.4 percentage points 

lower than a decade ago. 

Of the $61 billion in total assets, 

marketing cooperatives accounted 

for $39 billion, down $4 billion from 

2008. Dairy and grain and oilseed 

cooperatives each had almost $12 billion in assets, more than three times the 

assets of any other type of marketing 

cooperative except fruit and vegetable 

cooperatives ($4 billion), but each had 

less than the more than $22 billion in 

assets of supply cooperatives. 

Table 9 compares common-size 

balance sheets for six sizes of cooperatives (for all types and sizes, see Appendix Table 6). Common-size balance 

sheets present all accounts as a percent 

of total assets, which allows comparison between different sizes and types 

of cooperatives. 

Current Assets

Current assets are generally comprised of cash and cash equivalents, 

accounts and notes (with short-term 

maturities) receivable, inventories, 

and prepaid expenses. Current assets 

were about 59 percent for all sizes of 

cooperatives, down from 65 percent in 

2008. Smaller cooperatives, especially 

service, most sugar, biofuels, and cotton ginning cooperatives, had smaller 

levels of current assets. Grain and oilseed, livestock, 

dry bean and pea, and larger cooperatives tended to 

have higher levels of current assets.

Investments and Other Assets

Investments were most often in other cooperatives and CoBank, while other assets is a catch-all 

account in this study and contained a wide variety 

of items. Investments plus other assets ranged from 
16 Cooperative Statistics, 2009

Table 4–Cooperatives’ number of full-time 

employees, 2009-2005 

 

Commodity 2009 2008 2007 2006 2005

 Thousands

Cotton 1.4 1.7 1.6 1.7 1.8

Dairy 25.0 23.8 23.6 22.9 24.4

Fish 0.7 0.7 0.7 0.7 0.7

Fruits & vegetables 13.6 15.7 14.2 13.4 13.5

Grains & oilseeds 21.3 19.7 18.3 17.4 17.6

Livestock & poultry 2.4 2.4 2.3 2.4 1.9

Rice 2.5 2.6 2.6 2.6 2.4

Sugar 5.7 6.0 7.5 6.6 6.8

Other marketing 2.5 2.6 6.1 6.6 6.5

Total marketing 75.1 75.1 76.9 74.3 75.5

 

Total supply 43.6 44.8 43.6 44.4 46.0

 

Service 4.0 4.5 4.7 4.7 3.9

 

Total 122.6 124.4 125.2 123.4 125.4

18 percent for small cooperatives down to 14 percent for cooperatives with sales from $15 to $100 

million. Investments were larger for supply cooperatives than most marketing cooperatives. All but the 

largest supply cooperatives generally purchase their 

inputs from regional supply cooperatives, hence the 

large investments in other cooperatives. Large dairy, 

large fresh fruit and vegetable, service (except for 

cotton ginning), cotton, fish, poultry, 

nut, tobacco, and large livestock cooperatives all had low investments—often 

less than 4 percent. 

Property, Plant, and Equipment

Net property, plant, and equipment 

(PP&E) are tangible assets used in 

the cooperative’s operations. By size, 

PP&E was between 23 and 28 percent 

of total assets. Biofuels, medium sugar, 

small cotton ginning, small fish, and 

service (except storage) cooperatives 

all had PP&E of at least 40 percent of 

their assets. 

Current Liabilities 

Current liabilities are all obligations that will be 

paid with the use of current assets and will probably 

be paid within 1 year. Current liabilities are comprised of notes payable to banks and/or other trade 

creditors, accounts payable, current maturities of 

long-term debt, income taxes, other accrued liabilities (payroll, property taxes, interest, and other), 

patronage dividends payable, and miscellaneous 

or other current liabilities. Current liabilities were 

at least 30 percent of total assets and grew to 42 

percent for larger cooperatives. Product marketing 

cooperatives tended to have higher levels of current 

liabilities than supply and service cooperatives.

Total Liabilities 

Total liabilities include current liabilities plus 

long-term liabilities, which are primarily long-term 

debt. In the aggregate, all types and sizes of cooperatives had some long-term debt. Smaller cooperatives all had at least 10 percent of their assets 

financed through long-term debt. The largest cooperatives used the most debt, financing 22 percent of 

their assets. Nut, large cotton, large fruit and vegetable, medium and small fish, large poultry, large rice, 

large and medium sugar, and hulling cooperatives 

all financed about 20 percent of their assets with 

long-term debt. 

Total liabilities were $37 billion, down $9 billion 

from 2008 (Table 10). Cooperatives’ total liabilities grew from $29 billion in 2000 to $37 billion in 

0

10

20

30

40

50

60

70

80

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Billion dollars

Liabilities

NetWorth

Assets

Figure 12–Cooperatives’ Assets, Liabilities, and Net 

Worth, 2000-2009
Cooperative Statistics, 2009 17

Table 5–Full-time and part-time and seasonal employees of 

cooperatives, by cooperative type, 2009-20081

 

Principal product(s) Total Part-time & 

marketed employees Full-time seasonal

or major function 2009 2008 2009 2008 2009 2008

 

Products marketed Thousands 

Cotton 1.8 2.1 1.4 1.7 0.3 0.4

Dairy 27.8 27.2 25.0 23.8 2.8 3.4

Fish 0.9 0.9 0.7 0.7 0.2 0.2

Fruit and vegetable 31.2 30.4 13.6 15.7 17.7 14.7

Grain and oilseed 30.8 26.1 21.3 19.7 9.5 6.4

Livestock and poultry 3.3 3.7 2.4 2.4 0.9 1.3

Rice 2.9 2.7 2.5 2.6 0.3 0.2

Sugar 10.3 11.1 5.7 6.0 4.6 5.1

Other marketing2 4.3 4.0 2.5 2.6 1.8 1.3

Marketing 113.2 108.1 75.1 75.1 38.1 33.0

 

Supply 59.4 61.3 43.6 44.8 15.8 16.5

Service 7.8 8.8 4.0 4.5 3.8 4.3

 

Total 180.4 178.2 122.6 124.4 57.8 53.8

1 Totals may not add due to rounding.

2 Includes dry edible bean and pea, nut, tobacco, wool, and other product marketing 

cooperatives.

2009. Total liabilities financed 61 percent of total 

assets in 2009, down 6 percentage points from 

2008. 

Allocated (or Member) Equities 

Allocated (or member) equities represent member 

ownership of each cooperative. Comparing allocated equities to total assets determines the percentage of the cooperative’s assets owned by members. 

Allocated equity comprised just 26 percent of 

ownership of all sizes of cooperatives, but this was 

3 points higher than 2008. The very largest had the 

smallest percentages of both retained earnings and 

overall equity. 

Net worth, or member and patron equity, was $24 

billion, up almost $1 billion from 2008. The proportion of total assets financed by member and patron 

equity was 39 percent, up 6 

percentage points from 2008. 

Net worth for all marketing cooperatives totaled $14 

billion, up almost $1 billion from 2008. Marketing 

cooperatives accounted for 

57 percent of cooperatives’ 

combined net worth, up 1 

percentage point from 2008. 

Net worth for supply cooperatives totaled $9.6 billion 

and was 40 percent of the 

total. For marketing cooperatives, the highest percentage 

of total assets represented by 

net worth shown in Figure 13, 

58 percent, was for service 

cooperatives. The lowest, 31 

percent, was dairy and fruit 

and vegetable cooperatives. 

Income Statement 

The income statement 

shows the net results of a 

cooperative’s operations. 

Because most managers’ 

performance is judged by 

net income, members attach 

great importance to the income statement. Table 9 

presents a common-size income statement for all 

cooperatives, broken out into six different sizes. 

Each item in a common-size income statement is 

represented as a percentage of total sales or service. 

Common-size income statements by cooperative 

type and size are presented in Appendix Table 6.

Total (Net) Sales

Total (net) sales are all sales less discounts, 

returns, and allowances from gross sales. Service 

cooperatives do not have a total sales value: the 

first income statement item for these cooperatives is 

service. 
18 Cooperative Statistics, 2009

Gross Margins

The excess of net 

sales over the cost 

of goods sold is the 

gross margin or gross 

margin percentage, 

and it is an important 

operating ratio. A 

small change in the 

gross margin can tremendously impact net 

operating margins. A 

cooperative manager 

must maintain a gross 

margin near industry averages. Thus, 

least-cost sources of 

supplies need to be 

developed, and marketing cooperatives 

need to pay market 

rates on the products 

they purchase.

Cooperatives are 

often characterized 

as businesses that provide goods and services “at 

cost.” However, a cooperative cannot operate at cost 

0 10 20 30 40 50 60 70

Service

Supply

Fish

Sugar

Grain & Oilseed

Rice

Cotton

Livestock & Poultry

Fruit & Vegetable

Dairy

1 Includes dry bean and pea, nut, tobacco, wool and mohair, and other product marketing cooperatives.

Percent

Other Marketing1

 Cooperatives Dollar volume Memberships2 

Sales volume Percent Gross3 Percent Number Percent

group (million $) Number of total (million $) of total (1,000) of total

 

 

Less than 5.0 823 34.4 1,489 0.9 273 12.2

 5 - 9.9 338 14.1 2,453 1.4 175 7.8

 10 - 14.9 211 8.8 2,609 1.5 117 5.2

 15 - 24.9 237 9.9 4,604 2.7 160 7.1

 25 - 49.9 270 11.3 9,470 5.6 242 10.8

 50 - 99.9 201 8.4 13,410 7.9 197 8.8

 100 - 199.9 119 5.0 16,794 9.9 205 9.1

 200 - 499.9 137 5.7 23,204 13.6 326 14.5

 500 - 999.9 35 1.5 23,716 13.9 151 6.7

1,000 and more 18 0.8 72,494 42.6 402 17.9

Total4 2,389 100.0 170,243 100.0 2,248 100.0

1

 Business volume includes revenues from marketing plus the value of products bargained for or 

handled on a commission basis, supply sales, service receipts, and other income.

2

 Includes number of farmers, ranchers, and fishermen eligible to vote for directors. Does not include memberships held by other cooperatives, such as local cooperative memberships in regional 

cooperatives.

3

 Includes inter-cooperative business volume. 

4

 Total may not add due to rounding.

Table 6–Cooperatives and memberships, by gross business volume, 

20091

Figure 13–Percentage of Assets Financed by Net

 Worth, by Cooperative Type, 2008

Cost of Goods Sold

Cost of goods sold (COGS) includes the beginning inventory plus purchases and 

freight costs, minus purchase returns 

and allowances, purchase discounts, 

and ending inventory. COGS, therefore, was the purchase price of the 

supplies sold or products marketed. 

For all sizes of cooperatives, COGS 

was 90 percent of net sales. COGS can 

be much lower for cooperatives that 

process products or provide technical services. Artificial insemination 

cooperatives, processed and fresh fruit 

and vegetable cooperatives, larger fish, 

smaller nut, larger rice, and medium 

sugar cooperatives have a lower COGS. 

Grain and oilseed and most dairy cooperatives have a COGS in excess of 90 

percent, while large livestock marketing cooperatives that operate mainly as 

auctions have a COGS of 99 percent.
Cooperative Statistics, 2009 19

Table 7–Cooperatives’ gross and net business volumes by commodity, 2009 & 20081

 

Commodity Gross volume Net volume

2009 2008 2009 2008 

Products marketed: Billion $ 

Beans & peas 

 (dry edible) .170 .202 .167 .191

Cotton 2.133 3.507 2.022 3.332

Dairy 30.835 40.127 27.894 37.817

Fish .197 .208 .197 .208

Fruits & 

 vegetables 7.583 7.464 5.481 5.233

Grains &

 oilseeds2 44.429 47.313 43.885 46.222

Livestock 3.128 3.353 3.025 3.240

Nuts .835 .832 .835 .832

Poultry3 1.171 1.457 1.171 1.457

Rice 1.686 1.395 1.686 1.395

Sugar 4.996 4.895 4.220 4.092

Tobacco .168 .135 .168 .135

Wool & mohair .006 .006 .006 .006

Other 

 marketing4 4.757 5.936 4.471 5.615

Total marketing 102.093 116.831 95.226 109.776

 

Supplies purchased: 

Crop protectants 7.684 6.702 5.451 4.497

Feed 11.095 10.849 8.827 9.277

Fertilizer 12.261 12.760 10.665 9.941

Petroleum 23.357 30.267 15.851 19.247

Seed 3.934 3.540 2.519 2.396

Other supplies5 4.842 6.112 4.224 5.320

Total supplies 63.173 70.229 47.538 50.677

 

Services & 

 other income6 4.978 4.814 4.978 4.814

Total business 170.244 191.874 147.742 165.267

1

 Gross includes and net excludes inter-cooperative business. 

Totals may not add due to rounding.

2

 Excludes cottonseed. Cottonseed oil is included in other marketings whereas cottonseed meal is included in feed.

3

 Includes eggs, turkeys, ratite, squab, and related products.

4

 Includes coffee, forest products, hay, hops, seed marketed 

for growers, nursery stock, ethanol, other farm products not 

separately classified, and sales of products not received directly from member patrons. Also includes manufactured food 

products and resale items marketed by cooperatives.

5

 Includes building materials, containers and packaging 

supplies, machinery and equipment, meats and groceries, 

automotive supplies, hardware, chicks, and other supplies not 

separately classified.

6

 Includes trucking, cotton ginning, storage, grinding, application, locker plants, and other related items. Services include 

charges related to marketing or purchasing, but not included in 

the volume reported for those activities, plus other income and 

extraordinary items.

on a daily basis. Cooperatives need adequate gross 

margins to be profitable and to afford to finance 

essential future-directed discretionary expenditures, 

such as expansion and advertising. 

Gross margin equals net sales less cost of goods 

sold, so cooperatives with higher COGS had lower 

gross margins. The COGS was about three percentage points higher for the very largest cooperatives 

than for the other sizes. As discussed earlier in 

COGS, those cooperatives with a low COGS would 

have high gross margins. 

Service and Other Operating Income

Service and other operating income is that derived from any service these cooperatives provided. 

Some cooperatives only provide services, such 

as rice driers, cotton gins, storage, transportation, 

auctions, hulling, seed development, locker plants, 

pest management and scouting, farmer markets, and 

other miscellaneous services. Service income is important to marketing and supply cooperatives. They 

provide hauling, storage, grading, delivery, custom 

application, record keeping, and drying, to name 

some of the most common. Other operating income 

is generated from sales activities and includes income from providing financing for sales. 

For service cooperatives, service is 100 percent 

on their income statement. By cooperative size, 

service income is the most important for smaller 

cooperatives (15 percent of sales) and diminishes as 

size increases to cooperatives with over $500 million in sales (1 percent of sales). Many of the cotton 

ginning cooperatives have mainly service income 

and limited sales, hence service income ranges from 

6 percent to 61 percent of sales for these cooperatives. 

Operating Expenses

There are only four accounts for expenses in 

Table 9: wages, depreciation, interest, and other. 

The wage account includes all employee expenses, 

some of which are salaries and wages, payroll taxes, 

employee insurance, unemployment compensation, 

and pension expense. The “other” account would include administrative expenses, which are overhead 

costs associated with a cooperative and indirectly 

related to revenue production. These include professional services, office supplies, telephone, meetings 
20 Cooperative Statistics, 2009

Table 8–Combined assets of cooperatives, 20091

Principal product(s) Assets Investments Investments in

marketed and of own in other Total other co-ops as 

 major function Co-ops2 operations co-ops3 assets percent of total

Products No. Billion $ Percent

 marketed

Cotton 12 1.147 .018 1.165 1.6

Dairy 154 11.644 .189 11.834 1.6

Fruits &

 vegetables 167 4.333 .113 4.446 2.5

Grains &

 oilseeds 566 12.608 1.296 13.904 9.3

Livestock &

 poultry 68 .564 .015 .580 2.7

Rice 14 .867 .011 .878 1.3

Sugar 32 2.787 .204 2.990 6.8

Other 

 marketing4 119 2.770 .042 2.812 1.5

Total 

 marketing 1,169 36.720 1.889 38.609 4.9

 

Total supply 970 19.511 2.054 21.565 9.5

 

Service 250 .910 .101 1.011 10.0

 

Total 2,389 57.141 4.044 61.185 6.6

1

 Totals may not add due to rounding.

2

 Many cooperatives have multi-product and multi-functional operations. Most are 

classified according to predominant commodity or function as indicated by business 

volume.

3

 Also includes investments in CoBank.

4

 Includes dry edible beans and peas, fish, nuts, tobacco, wool, and other marketing.

and travel, donations, dues and subscriptions, directors’ fees and expense, and annual meetings. The all 

other account would also include general expenses, 

which are directly related to revenue production, 

such as advertising and promotion; auto and truck 

delivery; insurance; property, business and other 

taxes and licenses; rent and lease expenses; plant 

supplies and repairs; repairs and maintenance; utilities; miscellaneous; bad debts; and other. 

Wage expenses were the highest for smaller 

cooperatives and fell as cooperative size increased, 

from 12 percent for the smallest cooperatives to 4 

percent for the largest. Wage expenses were higher 

for service cooperatives, because they are generally 

small and lack other sales to 

spread out wage costs. Artificial 

insemination cooperatives had 

wage expenses that were over 

45 percent of sales, those of 

smaller cotton ginning cooperatives averaged over 19 percent 

of sales. Dairy, cotton, grain and 

oilseed, and larger and middle 

livestock marketing (auctions), 

biofuels, smaller rice, larger 

tobacco, and smaller sugar 

cooperatives had lower wage 

expenses relative to sales.

 Depreciation expenses did 

not change much with cooperative size; their range was just 

over 1 point, ranging from 2 

percent for the smallest cooperatives to 1 percent for the 

largest. Smaller cotton ginning 

cooperatives and other service 

cooperatives had depreciation 

expenses of at least 5 percent of 

sales. Most livestock cooperatives had little PP&E, so depreciation expenses were low: less 

than 1 percent. Most dairy and 

grain and oilseed cooperatives 

also had depreciation expenses 

of less than 1 percent.

Interest expenses were 

relatively minor for all sizes 

of cooperatives, comprising less than 1 percent of 

total sales. Cotton service and hulling cooperatives 

both had interest expenses greater than 2 percent of 

sales. Larger and middle-size mixed grain marketing cooperatives had interest expenses that averaged 

in excess of 1 percent of sales.

Other expenses fell as cooperatives grew larger. 

This account is the difference between total expenses and the sum of wages, depreciation and interest, 

so it can be overstated when these three accounts 

are estimated for the few cooperatives that did not 

break out individual expenses on the survey or in 

their annual report. As a result, other expenses in 

this report may be larger than expected. 
Cooperative Statistics, 2009 21

Table 9–Common size analysis by cooperative size, 2009

Cooperative sales size All ≥ $500 From $100 to From $15 to From $5 to < $5

 sizes million $500 million $100 million $15 million million 

Balance sheet Percent of total assets

Current assets 59.16 58.91 60.42 59.39 55.51 53.87

Other assets 9.74 13.87 5.97 3.23 7.34 8.68

Investments 6.59 3.19 9.41 11.08 13.66 9.39

PP&E1 (net) 24.51 24.03 24.20 26.30 23.48 28.05

Total assets 100.00 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 42.82 42.33 44.35 44.75 36.16 29.90

Total liabilities 61.09 64.94 61.18 54.78 44.34 40.74

Allocated equity 26.46 27.04 21.20 27.82 37.29 48.73

Retained earnings 12.45 8.03 17.62 17.41 18.36 10.53

Total equity 38.91 35.06 38.82 45.22 55.66 59.26

Total equity and liabilities 100.00 100.00 100.00 100.00 100.00 100.00

Income statement Percent of total sales

Total sales 100.00 100.00 100.00 100.00 100.00 100.00

Cost of goods sold 90.40 91.47 88.88 89.50 86.48 84.23

Gross margin 9.60 8.53 11.12 10.50 13.52 15.77

 

Service and other income 2.17 1.23 2.68 3.53 6.86 15.35

Gross revenue 11.77 9.76 13.80 14.03 20.38 31.12

Expenses

Wages 4.62 3.80 5.43 5.53 8.42 12.16

Depreciation 1.10 0.94 1.22 1.35 1.62 2.34

Interest 0.55 0.45 0.76 0.61 0.63 0.80

Other 3.67 2.79 4.32 4.92 7.45 13.52

Total expenses 9.94 7.99 11.73 12.41 18.12 28.83

 

Net operating margins 1.83 1.77 2.07 1.61 2.26 2.29

Patronage income 0.54 0.15 0.99 1.12 1.67 1.83

Non-operating income 0.29 0.21 0.38 0.37 0.64 0.16

Net income before taxes 2.66 2.13 3.44 3.10 4.56 4.64

Taxes 0.23 0.17 0.34 0.28 0.22 0.16

Net income 2.43 1.96 3.10 2.82 4.35 4.48

Ratios Percent or number

Current 1.38 1.39 1.36 1.33 1.54 1.80

 

Debt to asset 0.61 0.65 0.61 0.55 0.44 0.41

Debt to equity 1.57 1.85 1.58 1.21 0.80 0.69

Times interest earned 5.81 5.74 5.52 6.05 8.24 6.78

 

Total asset turnover 2.70 3.01 2.48 2.40 1.87 1.28

Fixed asset turnover 11.03 12.52 10.25 9.12 7.96 4.57

 

Gross profit margin 9.60 8.53 11.12 10.50 13.52 15.77

Return on assets 8.69 7.78 10.43 8.92 9.71 6.99

Return on member equity 24.86 21.84 36.28 24.33 21.79 11.79

1

(Property, plant, and equipment)
22 Cooperative Statistics, 2009

Table 10–Combined balance sheet data of 

cooperatives, 20091

Principal product(s) 

marketed and Total Total Net 

major function Co-ops assets liabilities worth 

 

Products 

marketed: No. Billion dollars

Cotton 12 1.17 .75 .41

Dairy 154 11.83 8.17 3.66

Fruits &

 vegetables 167 4.45 3.07 1.38

Grains &

 oilseeds 566 13.90 8.87 5.03

Livestock &

 poultry 68 .58 .38 .20

Rice 14 .88 .56 .31

Sugar 32 2.99 1.89 1.10

Other 

 marketing2 119 2.81 1.28 1.53

Total marketing 1,169 38.61 24.98 13.63

 

Total supply 970 21.57 11.94 9.62

 

Service 250 1.01 .42 .59

Total 2,389 61.19 37.34 23.84

 

 

 

1

 Totals may not add due to rounding.

2

 Includes dry edible beans and peas, fish, nuts, tobacco, wool, 

cottonseed, and other marketing.

Table 11–Cooperatives’ net income before 

taxes, 20091

 

Principal product(s) Patronmarketed and Income Net age

major before operating infunction Co-ops taxes margins come2

Products No. Million dollars

marketed:

Cotton 12 62.6 61.6 1.0

Dairy 154 742.9 705.7 37.2

Fruits &

 vegetables 167 609.7 602.1 7.5

Grains &

 oilseeds 566 1,267.8 924.2 343.6

Livestock &

 poultry 68 5.5 4.4 1.0

Rice 14 33.5 32.5 1.0

Sugar 32 114.8 112.2 2.7

Other 

marketing3 119 100.3 94.1 6.1

Total marketing 1,169 2,937.0 2,536.9 400.1

 

Total supply 970 1,296.3 844.7 451.6

 

Service 250 168.6 116.4 52.2

Total 2,389 4,401.9 3,498.0 904.0

 

1

 Adjusted for losses and before taxes. Before-tax income is 

used in this table because historically, after-tax net income was 

not collected. Totals may not add due to rounding.

2

 Includes patronage refunds from CoBank.

3

 Includes dry edible beans and peas, fish, nuts, tobacco, wool, 

and other marketing.

Net Operating Margins

Net operating margins is gross margins minus total expenses but before taxes and patronage refunds 

from other cooperatives; so it is income generated 

by the cooperatives’ own operations. Net operating margins for all cooperatives in 2009 was $3.5 

billion, excluding inter-cooperative dividends and 

refunds (Table 11). 

Net operating margins as a percent of net sales 

was 1.8 percent for all cooperatives by size (Table 

9). Most service cooperatives, artificial insemination, large processed and fresh fruit and vegetable, 

and small nut cooperatives had high net operating 

margins. Small cotton ginning, dairy, mixed supply, 

livestock, small fish, large poultry, biofuels, large 

tobacco, and middle-size sugar marketing cooperatives had low or negative net operating margins. 

Patronage Income

Patronage refunds received, or income from other 

cooperatives, resulted from business with other cooperatives, generally regionals or CoBank, a cooperative bank. The patronage refund from regionals 

was based on business volume and consisted of cash 

refunds and equity stock. Stock was usually revolved back to the local cooperative on a set schedule. Many cooperatives that borrowed funds from 

CoBank received both cash and non-cash patronage 

income. The non-cash patronage from CoBank was 

from investment in the bank, which was usually 

required in proportion to the funds borrowed.

Patronage refunds received from other cooperatives, including CoBank, totaled $904 million, up 

5 percent from $864 million in 2008 (Appendix 
Cooperative Statistics, 2009 23

Figure 6). In 2000, refunds from other cooperatives 

totaled $235 million, or 18 percent of net income 

before taxes. By 2009, refunds had grown to 21 

percent of net income before taxes.

Patronage refunds were a little more than 1.8 

percent of sales for the smallest cooperatives, and 

fell to 0.2 percent for the largest (Table 9). All but 

the largest cotton ginning cooperatives had patronage refunds of over 7 percent of sales. Livestock, 

fish, poultry, biofuels, rice, tobacco, wool, storage, 

0.0

1.0

2.0

3.0

4.0

5.0

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

1 Includes dividends and patronage refunds from other cooperatives and CoBank.

NetOperating

Margins Income

From Other

Cooperatives

1

NetIncome

Before Taxes

0 500 1000 1500 2000

Livestock and Poultry

Rice

Cotton

Sugar

Service

Fruits and Vegetables

Dairy

Grains and Oilseeds

Supply

Million Dollars

1 Includes dividends and patronage refunds from other cooperatives and CoBank. 2 Includes dry bean and pea, nut, tobacco, wool and mohair, fishery, and other product marketing cooperatives.

Other Marketing2

NetOperating Margins

Income From OtherCooperatives1

Figure 15–Before Taxes Net Income or Loss, by Type 

of Cooperative, 2009

Figure 14–Cooperatives’ Net Income Before Taxes,

2000-2009

and hulling cooperatives had virtually 

no patronage refunds. 

Non-Operating Income

Non-operating income is income not 

generated by sales. It could be interest 

from investments. It also could come 

from the sale of PP&E, rentals, and 

extraordinary items. Sometimes PP&E 

are sold to generate income, but usually they are fully depreciated. When 

sold, if the market value is greater 

than the book value, income is generated. In some cases, disposal of a fully 

depreciated asset may mean a loss. 

Rental income from unused facilities 

or equipment provides income flows. 

Extraordinary items might be either a 

gain or a loss. A gain could result from 

a fire loss where the insurance settlement was greater than the book value. 

A loss might occur from flood damage for which the cooperative had no 

coverage. For all sizes of cooperatives, 

non-operating income averaged less 

than 1 percent of sales.

Net Income Before Taxes

Net income before taxes (NIBT) was 

a $4.4 billion, a decrease of 9 percent 

from the record $4.8 billion in 2008. 

Net income in 2009 was almost 3.5 

four times the $1.3 billion of 2000 (Appendix Table 7 and Figure 14). 

Marketing cooperatives’ NIBT of 

$2.9 billion was up 4 percent from the 

$2.8 billion generated in 2008. Grain 

and oilseed cooperatives increased 

their net incomes by more than $306 

million; dairy, $210 million; and sugar, 

$47 million. 

Total net income of supply cooperatives was $1.3 billion in 2009, down 

28 percent from $1.8 billion in 2008 

(Figure 15). This accounted for 29 percent of cooperatives’ total net income 

in 2009, down from 37 percent in 2008 

(Appendix Figure 7). 

Billion dollars
24 Cooperative Statistics, 2009

Losses totaled $216 million in 2009, a 192-percent increase from the $74 million in losses in 

2008. Supply, other marketing, grain and oilseed, 

and poultry cooperatives all had losses of over $10 

million (Appendix Figure 8). The number of cooperatives with losses was up from 208 to 255, an 

increase of 23 percent. 

Income Taxes

Cooperatives paid income taxes on earnings 

not allocated to members (retained earnings) and 

on dividend payments. Each cooperative’s board 

determined what amounts of income were allocated 

to retained earnings and to members. Non-member 

business has an impact on retained earnings because 

cooperatives can allocate the earnings to non-members or retain the income. Cooperatives paid $378 

million in income taxes. 

Net Income

Net income after taxes (net operating margins 

plus patronage refunds and non-operating income 

minus taxes) was the highest for smaller cooperatives (4.5 percent) but fell to 2.0 percent for the 

largest cooperatives. Cotton service, cotton ginning 

(other than the smallest), large processed and fresh 

fruit and vegetable, rice drier, storage, and hulling 

cooperatives all had higher than average net incomes while livestock, smaller fish, larger poultry, 

biofuels, and middle and small sugar marketing 

cooperatives had lower levels of net income relative 

to sales. 

Selected Financial Ratios

Financial ratios express relationships between 

items in the balance sheet and income statements of 

a business operation. They help in analyzing a cooperative’s economic and financial situation. Ratios 

can indicate problem areas, serve as guidelines for 

planning, and aid in formulating actions. However, 

interpretation is largely subjective.

Nine financial ratios were used to measure cooperative performance or financial condition—the current ratio, debt to asset, debt to equity, times interest 

earned, total asset turnover, fixed asset turnover, 

gross profit margin, return on assets, and return on 

member equity. 

The formulas for these ratios are:

Current = current assets / current liabilities

Debt to asset = debt / total assets (Please note: debt 

= all liabilities)

Debt to equity = (debt / total assets) / (equity / total 

assets)

Times interest earned = (NIBT + interest expense) / 

interest expense (Where NIBT = net income before 

taxes)

Total asset turnover = total sales / total assets

Fixed asset turnover = total sales / PP&E (Where 

PP&E = net property, plant & equipment)

Gross profit margin = gross margin

Return on assets before interest and taxes = (NIBT 

+ interest expense) / total assets

Return on member equity = net income / allocated 

equity

Liquidity Ratio

 The current ratio is a liquidity ratio—a measure of the cooperative’s ability to meet short-term 

obligations. It focuses on the cooperative’s ability to 

remain solvent. However, this ratio does not consider the degree of liquidity of each of the current asset 

components. If the current assets of a cooperative 

were mainly cash, they would be much more liquid 

than if comprised of mainly inventory.

If the ratio is less than one, current liabilities exceed current assets and the cooperative’s liquidity is 

threatened. Improvements can be achieved by selling additional capital stock, borrowing additional 

long-term debt, or disposing of unproductive fixed 

assets and retaining proceeds. Current liabilities 

may also be reduced by retaining a greater portion 

of allocated savings (reducing the cash portion). 

 A high current ratio is a favorable condition financially because it indicates the ability to pay current liabilities from the conversion of current assets 

into cash. Operationally, this same high ratio tends 

to increase operating freedom and reduce the probability of bill-paying difficulty from write-downs of 

accounts receivable or inventory. The current ratios 

of six sizes of cooperatives are shown in Table 9 

(for all types and sizes, see Appendix Table 6). By 

size, the ratio is always less than or equal to 1.8, 

meaning current assets exceed current liabilities 

by 1.8 or less times. If needed, these current assets 

could be sold to cover all short-term liabilities and 

the cooperative would still have some liquid assets 

left. By type, the current ratio exceeds two for these 
Cooperative Statistics, 2009 25

cooperatives: artificial insemination, large cotton, 

small livestock, tobacco, wool, small sugar, rice 

drier, small transportation, and storage cooperatives. 

Leverage ratios

Leverage ratios look at the long-term solvency 

of the cooperative and help analyze the use of debt 

and the ability to meet obligations in times of crisis. 

Debt to asset ratio shows the proportion of debt 

used to finance assets. Reducing debt, increasing 

savings, or financing a greater portion of assets with 

working capital may improve this ratio. 

Generally, larger cooperatives relied on the use 

of more debt financing. Debt financing was used for 

at least 61 percent of assets owned by cooperatives 

with sales from $100 to $500 million in sales and 

rose to 65 percent for the largest cooperatives. Artificial insemination, small livestock, tobacco, rice 

drier, small transportation, and storage cooperatives 

had the lowest use of debt financing. 

Debt to equity ratio shows the financial flexibility 

and the long-term capital structure of the cooperative. High ratios indicate inadequate borrowing 

power. A low ratio is more favorable and financially 

makes the cooperative more independent of outside 

sources of funds because owners’ equity is available. A low ratio may indicate low return on equity. 

Operationally, a low ratio tends to reduce interest 

cost. Improvement may be gained by disposing of 

unproductive assets and using proceeds to liquidate debt, or accelerating payments on long-term 

loans. Other ways include increasing local equity by 

generating higher levels of net operating margins, 

slowing down equity retirement programs, selling 

additional capital stock, or retaining more allocated 

savings.

As cooperatives’ sizes grew, so did their use of 

debt. The ratio was 0.7 for the smallest cooperatives, and it grew to 1.9 for the largest. Artificial 

insemination, cotton ginning, small dairy, large to 

small supply and mixed supply, small dry bean and 

pea, biofuels, tobacco, wool, small sugar, rice drier, 

transportation, and storage cooperatives all had a 

ratio of less than 1. 

Times interest earned ratio is the number of times 

interest expense is covered by earnings. A ratio of 

1.0 or more indicates the ability of current earnings 

to pay current interest expenses. Lending institutions are more apt to loan to cooperatives whose 

times interest earned ratio is more than 1.0 because 

it shows their ability to pay interest payments. With 

a ratio greater than 1.0, a lending institution may 

lend funds at lower rates more readily for capital 

improvements. 

Collecting old receivables, improving inventory 

turnover, disposing of assets and reducing debt with 

proceeds, or reducing debt with working capital 

may improve this ratio. Financially, a high ratio 

affects the return on equity and tends to increase it. 

Operationally, a high ratio reduces interest cost.

 Interest coverage was between 9 and 5 for all 

sizes of cooperatives. Some especially high values 

were calculated by cooperative type but these values 

could be influenced by a number of the cooperatives in any particular type not breaking out interest 

expenses in their surveys or on their annual reports. 

Large processed and fresh fruit and vegetable, wool, 

small sugar, and small transportation cooperatives 

had ratios exceeding 20.

Activity Ratios

Activity ratios measure how well cooperatives 

use assets. A low ratio could mean that the cooperative was overcapitalized or carrying too much 

inventory.

A high total asset turnover ratio favorably influences finances through the reduction of financial 

leverage and/or increased return on equity. A high 

ratio tends to reduce interest costs. The ratio grew 

from 1.3 to 3.0 as cooperatives were larger. Most 

dairy, most livestock, smaller fish, small rice, and 

small sugar cooperatives have a high total asset 

turnover ratio.

Fixed asset turnover ratio is similar to the total 

asset turnover ratio and shows how well the cooperative used its fixed assets. This ratio by itself might 

not give a complete picture of the cooperative’s 

financial health. A cooperative with fully depreciated assets would have an artificially high ratio. A 

cooperative that invested heavily in PP&E for future 

expansion will have a temporarily low ratio.

 The measure for this ratio may or may not show 

favorable or unfavorable conditions, but merely 

cooperative conditions. An abnormally high ratio 

usually indicates very old, nearly depreciated fixed 

assets or the leasing of property and equipment. 

Financially, a high ratio is influenced favorably by 
26 Cooperative Statistics, 2009

increasing asset use, reducing financial leverage, 

and/or increasing return on equity. Operationally, 

it tends to reduce depreciation and interest costs. It 

may also increase costs related to operating leases, 

personnel and travel, or delivery expenses. This 

ratio may be improved by restricting further investments in fixed assets; redesigning production 

or office facilities to increase the sales-generating 

potential of existing space and equipment; and/or 

selling idle machinery and parts, unused vehicles, 

and unnecessary equipment.

The fixed asset turnover ratio was between 5 and 

13 for all sizes of cooperatives. Most dairy, most 

livestock, and all small rice, small sugar, and small 

transportation cooperatives have a high fixed asset 

turnover ratio. 

Profitability Ratios 

Profitability ratios indicate the efficiency of the 

cooperative’s operations. Because a cooperative is 

owned by its user-members, many common industry 

profitability ratios have little meaning. For instance, 

profitability ratios measuring the return on common 

or preferred stock of similar investor-oriented firms 

are not appropriate because there is seldom an open 

market for cooperative stock. Gross profit margin, 

a profitability ratio, was discussed in the income 

statement so will not be reexamined in this section. 

Return on assets measures the rate of return on 

total investment. This ratio is a measure of performance. It is not sensitive to the leverage position 

of the cooperative. Although some assets were 

financed through debt, the ratio measures return to 

both members and lenders. 

Operationally, a high ratio tends to reduce interest cost and financially indicates a comparatively 

high rate of return on assets employed. This ratio 

rose from 7 for the smallest cooperatives to 11 for 

cooperatives with sales of $100 million to $500 

million, and then fell to 7.8 for the largest cooperatives. It is high for larger cotton ginning, large processed and fresh fruit and vegetable, small sugar, 

rice drier, and hulling cooperatives.

Return on member equity represents members’ 

investment in their cooperative. It is an important 

measure of profitability. This ratio is sensitive to 

the amount of debt capital in the cooperative and is 

best used in conjunction with other measures such 

as the return on assets. Financially, a high ratio is 

favorable and tends to decrease financial leverage. 

However, a high ratio may also be a symptom of 

insufficient investment. Operationally, a high ratio 

tends to reduce interest cost over time but may 

occur when both total debt and interest costs are 

high. 

By size, the highest return on member equity 

was over 36 percent for cooperatives with $100 

million to $500 million in sales. The smallest 

cooperatives have higher proportions of member 

equity and thus a lower ratio of 12. Cotton service, 

most cotton ginning, some dairy, large processed 

and fresh fruit and vegetable, large farm supply, 

larger mixed grain and oilseed, most grain and 

oilseed, smaller fish, large dry bean and pea, small 

sugar, rice drier, and hulling cooperatives have 

very high returns on member equity. 
Cooperative Statistics, 2009 27

APPENDIX TABLES

Appendix Table 1–Number of cooperatives by major business activity, 2009-2005 

 

Major business activity 2009 2008 2007 2006 2005

Products marketed: Number

Bean and pea (dry edible) 6 6 6 6 6

Cotton 12 12 12 13 14

Dairy 154 147 161 172 193

Fish 37 41 45 45 50

Fruit and vegetable 167 165 162 167 188

Grain and oilseed1 566 585 612 642 683

Livestock 57 59 56 48 59

Nuts 20 17 17 17 17

Poultry2 11 13 12 12 14

Rice 14 14 14 15 15

Sugar3 32 32 32 38 47

Tobacco 9 11 11 15 19

Wool and mohair 58 62 63 61 71

Other marketing 26 27 30 29 36

Total marketing 1,169 1,191 1,233 1,280 1,412

 

Total supplies 970 1,003 1,061 1,090 1,128

 

Total services 250 279 300 305 356

Total business 2,389 2,473 2,594 2,675 2,896

1

 Cooperatives primarily handling grains and oilseeds, excluding cottonseed. 

2

 Cooperatives primarily handling eggs, turkeys, ratite, squab, and related products.

3

 Cooperatives primarily handling sugar beets, sugarcane, honey, and related products.
28 Cooperative Statistics, 2009

Appendix Table 2–Cooperative memberships, by major business activity, 2009-2005 

 

Major business activity 2009 2008 2007 2006 2005

Products marketed: Thousands

Bean and pea (dry edible) 1.7 1.5 1.6 1.6 1.7

Cotton 29.2 32.1 41.5 42.7 43.2

Dairy 53.3 64.9 67.1 71.4 60.8

Fish 5.3 5.7 5.9 6.1 7.1

Fruit and vegetable 32.2 25.0 27.9 28.7 29.8

Grain and oilseed1 437.3 446.6 465.9 467.0 479.3

Livestock 73.3 76.4 78.2 82.3 82.9

Nuts 16.2 15.9 15.4 15.4 15.4

Poultry2 0.5 0.5 0.4 0.4 0.4

Rice 11.6 11.7 12.1 12.2 12.1

Sugar3 10.9 11.1 11.5 11.8 14.8

Tobacco 65.1 65.3 66.2 158.6 160.1

Wool and mohair 10.0 10.0 10.1 9.8 10.5

Other marketing 6.5 5.5 6.1 11.7 21.2

Total marketing 753.0 772.2 809.9 913.7 932.2

 

Total supplies 1,390.2 1,500.0 1,525.9 1,522.4 1,538.3

 

Total services 104.7 118.8 124.1 133.5 101.2

Total business 2,247.8 2,390.9 2,459.9 2,569.6 2,571.7

1

 Cooperatives primarily handling grains and oilseeds, excluding cottonseed. 

2

 Cooperatives primarily handling eggs, turkeys, ratite, squab, and related products.

3

 Cooperatives primarily handling sugar beets, sugarcane, honey, and related products.
Cooperative Statistics, 2009 29

Appendix Table 3–Cooperatives’ gross business volume, by type of cooperative, 2009-

2005 

Major business activity 2009 2008 2007 2006 2005

Products marketed: Billion $

Beans and peas (dry edible) 0.2 0.2 0.1 0.1 0.1

Cotton 2.1 3.5 3.1 3.5 3.5

Dairy 30.8 40.1 37.7 29.0 31.0

Fish 0.2 0.2 0.2 0.2 0.2

Fruits and vegetables 7.6 7.5 6.9 7.2 7.6

Grains and oilseeds1 44.4 47.3 28.8 21.7 23.0

Livestock 3.1 3.4 3.4 3.4 2.3

Nuts 0.8 0.8 0.8 0.8 0.8

Poultry2 1.2 1.5 1.4 1.4 1.2

Rice 1.7 1.4 1.1 1.1 1.0

Sugar3 5.0 4.9 4.9 3.7 3.5

Tobacco 0.2 0.1 0.1 0.2 0.2

Other marketing4 4.8 5.9 4.6 4.4 3.9

Total marketing 102.1 116.8 93.1 76.5 78.0

 

Supplies purchased:

Crop protectants 7.7 6.7 3.7 3.3 3.3

Feed 11.1 10.8 8.6 7.3 7.0

Fertilizer 12.3 12.8 7.7 6.6 6.4

Petroleum 23.4 30.3 21.6 21.8 16.3

Seed 3.9 3.5 2.8 2.4 2.1

Other supplies 4.8 6.1 4.8 4.5 4.2

Total supplies 63.2 70.2 49.3 45.9 39.3

 

Services and other income 5.0 4.8 4.1 4.1 4.3

Total business 170.2 191.9 146.6 126.5 121.7

1

 Cooperatives primarily handling grains and oilseeds, excluding cottonseed. 

2

 Cooperatives primarily handling eggs, turkeys, ratite, squab, and related products.

3

 Cooperatives primarily handling sugar beets, sugarcane, honey, and related products.

4

 Includes wool and mohair and other marketing.
30 Cooperative Statistics, 2009

Appendix Table 4–Cooperatives’ net business volume, by type of cooperative 2008-2004 

 

Major business activity 2009 2008 2007 2006 2005

Products marketed: Billion $

Beans and peas (dry edible) 0.2 0.2 0.1 0.1 0.1

Cotton 2.0 3.3 1.8 2.1 3.4

Dairy 27.9 37.8 35.5 27.4 28.2

Fish 0.2 0.2 0.2 0.2 0.2

Fruits and vegetables 5.5 5.2 4.3 5.8 7.3

Grains and oilseeds1 43.9 46.2 28.3 21.4 23.0

Livestock 3.0 3.2 3.2 3.3 2.3

Nuts 0.8 0.8 0.8 0.8 0.8

Poultry2 1.2 1.5 1.4 1.4 1.1

Rice 1.7 1.4 1.1 1.1 0.9

Sugar3 4.2 4.1 4.0 2.6 3.4

Tobacco 0.2 0.1 0.1 0.2 0.2

Other marketing4 4.5 5.6 4.5 4.3 3.7

Total marketing 95.2 109.8 85.4 70.4 74.2

 

Supplies purchased:

Crop protectants 5.5 4.5 3.1 3.0 3.0

Feed 8.8 9.3 7.6 6.3 5.4

Fertilizer 10.7 9.9 6.8 5.9 5.4

Petroleum 15.9 19.2 14.7 15.2 9.8

Seed 2.5 2.4 1.8 1.5 1.3

Other supplies 4.2 5.3 4.3 4.0 3.7

Total supplies 47.5 50.7 38.3 35.9 28.4

Services and other income 5.0 4.8 4.1 4.1 3.9

Total business 147.7 165.3 127.8 110.5 106.5

1

 Cooperatives primarily handling grains and oilseeds, excluding cottonseed. 

2

 Cooperatives primarily handling eggs, turkeys, ratite, squab, and related products.

3

 Cooperatives primarily handling sugar beets, sugarcane, honey, and related products.

4

 Includes wool and mohair and other marketing.
Cooperative Statistics, 2009 31

 Assets Investments 

 from own in other Total Total Net 

Year operations cooperatives1 assets liabilities worth 

 Billion dollars

2000 44.64 5.09 49.72 29.45 20.28

2001 43.29 5.18 48.47 28.32 20.15

2002 41.95 5.54 47.49 27.88 19.60

2003 42.86 4.06 46.92 26.49 20.43

2004 42.36 4.80 47.15 26.77 20.39

2005 42.24 4.34 46.58 27.05 19.53

2006 44.36 3.52 47.88 27.95 19.93

2007 52.97 4.16 57.13 36.18 20.95

2008 64.88 4.19 69.07 46.08 22.99

2009 57.14 4.04 61.19 37.34 23.84

 

 Percent of total assets 

2000 89.8 10.2 100.0 59.2 40.8

2001 89.3 10.7 100.0 58.4 41.6

2002 88.3 11.7 100.0 58.7 41.3

2003 91.4 8.6 100.0 56.5 43.5

2004 89.8 10.2 100.0 56.8 43.2

2005 90.7 9.3 100.0 58.1 41.9

2006 92.6 7.4 100.0 58.4 41.6

2007 92.7 7.3 100.0 63.3 36.7

2008 93.9 6.1 100.0 66.7 33.3

2009 93.4 6.6 100.0 61.0 39.0

1 Includes investments in other cooperatives and CoBank, where applicable.

Appendix Table 5–Combined balance sheet data for cooperatives, 2000-2009
32 Cooperative Statistics, 2009

Type of cooperative Artificial Cotton Cotton

 insemination marketing services

Cooperative sales size ≥ $15 < $15 ≥ $100 < $100 

million million million million all sizes

Balance sheet Percent of total assets 

Current assets 52.60 58.59 75.02 60.96 61.60

Other assets 15.93 11.94 3.81 1.44 7.28

Investments 3.17 15.74 1.64 0.92 8.93

PP&E1 (net) 28.30 13.74 19.53 36.68 22.20

Total assets 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 26.12 18.16 34.91 50.74 44.26

Total liabilities 37.24 27.98 64.77 63.97 52.27

Allocated equity 39.12 0.00 25.15 19.86 48.45

Retained earnings 23.64 30.47 10.08 16.18 -0.71

Total equity 62.76 72.02 35.23 36.03 47.73

Total equity and liabilities 100.00 100.00 100.00 100.00 100.00

 

Income statement Percent of total sales Percent of service

Total sales 100.00 100.00 100.00 100.00

Cost of goods sold 28.01 32.05 88.34 84.49

Gross margin 71.99 67.95 11.66 15.51

 

Service and other income 20.45 8.46 4.16 0.58 100.00

Gross revenue 92.44 76.41 15.82 16.09 100.00

Expenses

Wages 49.31 45.14 3.63 3.42 20.63

Depreciation 4.98 2.49 0.89 1.41 2.92

Interest 0.53 0.00 1.23 0.87 3.23

Other 32.64 25.20 6.79 6.86 37.25

Total expenses 87.46 72.83 12.54 12.56 64.02

 

Net operating margins 4.99 3.58 3.29 3.54 35.98

Patronage income 0.10 1.88 0.04 0.09 1.05

Non-operating income 0.38 3.59 -0.56 0.09 5.59

Net income before taxes 5.46 9.06 2.77 3.71 42.61

Taxes 1.50 0.92 0.09 0.16 0.09

Net income 3.96 8.13 2.67 3.55 42.52

Ratios Percent or number

Current 2.01 3.23 2.15 1.20 1.39

 

Debt to asset 0.37 0.28 0.65 0.64 0.52

Debt to equity 0.59 0.39 1.84 1.78 1.10

Times interest earned 11.24 0.00 3.25 5.29 14.20

 

Total asset turnover 1.16 1.36 1.92 1.59 0.00

Fixed asset turnover 4.10 9.93 9.81 4.33 0.00

 

Gross profit margin 71.99 67.95 11.66 15.51 0.00

Return on assets 6.96 12.35 7.66 7.28 21.56

Return on member equity 11.76 0.00 20.38 28.41 41.28

1

(Property, plant, and equipment)

Appendix table 6–Common size analysis, by cooperative type and size, 2009 
Cooperative Statistics, 2009 33

Type of cooperative Cotton ginning

Cooperative sales size ≥ $20 $10 to $5 to $1 to < $1

 million $20 million $10 million $5 million million

Balance sheet Percent of total assets 

Current assets 57.91 43.81 41.02 38.12 31.21

Other assets 1.20 0.99 3.42 8.12 10.75

Investments 14.70 20.57 13.01 9.29 7.53

PP&E1 (net) 26.20 34.64 42.54 44.47 50.51

Total assets 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 32.99 34.88 32.15 25.34 20.42

Total liabilities 37.68 47.43 40.63 42.95 34.23

Allocated equity 51.08 46.13 50.89 50.51 59.97

Retained earnings 11.24 6.44 8.48 6.55 5.80

Total equity 62.32 52.57 59.37 57.05 65.77

Total equity and liabilities 100.00 100.00 100.00 100.00 100.00

 

Income statement Percent of total sales

Total sales 100.00 100.00 100.00 100.00 100.00

Cost of goods sold 89.23 81.88 74.85 79.31 84.85

Gross margin 10.77 18.12 25.15 20.69 15.15

 

Service and other income 6.26 31.20 32.76 45.04 60.52

Gross revenue 17.03 49.33 57.91 65.73 75.67

Expenses

Wages 5.36 11.93 15.21 19.22 31.47

Depreciation 1.35 3.85 4.97 6.53 11.73

Interest 0.44 0.98 0.78 1.60 1.52

Other 4.90 22.81 28.37 34.54 42.80

Total expenses 12.04 39.57 49.33 61.90 87.52

 

Net operating margins 4.99 9.76 8.57 3.83 -11.85

Patronage income 3.58 10.77 8.59 9.50 7.49

Non-operating income 0.36 0.63 0.90 0.78 0.99

Net income before taxes 8.93 21.16 18.07 14.12 -3.37

Taxes 0.30 0.05 0.05 0.02 0.19

Net income 8.63 21.11 18.02 14.10 -3.56

Ratios Percent or number

Current 1.75 1.26 1.28 1.50 1.53

 

Debt to asset 0.38 0.47 0.41 0.43 0.34

Debt to equity 0.60 0.90 0.68 0.75 0.52

Times interest earned 21.34 22.65 24.20 9.83 -1.22

 

Total asset turnover 2.82 1.30 1.10 0.79 0.45

Fixed asset turnover 10.77 3.77 2.59 1.79 0.89

 

Gross profit margin 10.77 18.12 25.15 20.69 15.15

Return on assets 26.42 28.87 20.74 12.49 -0.83

Return on member equity 47.62 59.68 38.96 22.19 -2.65

 (continued next page)

Appendix table 6–Common size analysis, by cooperative type and size, 2009 (continued)
34 Cooperative Statistics, 2009

Appendix table 6–Common size analysis, by cooperative type and size, 2009 (continued)

Type of cooperative Dairy and dairy products

Cooperative sales size ≥ $1 $500 million $200 to $50 to $20 to

 billion to $1 billion $500 million $200 million $50 million

Balance sheet Percent of total assets

Current assets 58.53 56.88 64.17 65.87 64.21

Other assets 21.34 8.84 3.93 2.04 1.95

Investments 1.22 1.45 3.07 6.43 17.83

PP&E1 (net) 18.92 32.83 28.82 25.67 16.00

Total assets 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 49.65 44.49 42.08 50.86 51.17

Total liabilities 71.51 59.55 55.24 55.31 57.84

Allocated equity 25.53 36.29 27.65 31.42 35.54

Retained earnings 2.96 4.16 17.11 13.26 6.62

Total equity 28.49 40.45 44.76 44.69 42.16

Total equity and liabilities 100.00 100.00 100.00 100.00 100.00

 

Income statement Percent of total sales

Total sales 100.00 100.00 100.00 100.00 100.00

Cost of goods sold 92.00 88.46 90.56 93.33 93.22

Gross margin 8.00 11.54 9.44 6.67 6.78

 

Service and other income 0.62 0.63 0.07 0.88 1.55

Gross revenue 8.62 12.16 9.51 7.55 8.33

Expenses

Wages 4.54 3.52 3.59 2.66 2.21

Depreciation 0.81 0.74 1.00 0.61 0.60

Interest 0.44 0.20 0.31 0.11 0.16

Other 1.42 6.05 2.25 3.33 4.75

Total expenses 7.21 10.51 7.15 6.70 7.72

 

Net operating margins 1.41 1.65 2.36 0.85 0.62

Patronage income 0.10 0.03 0.09 0.05 0.42

Non-operating income 0.44 0.00 0.73 0.13 0.12

Net income before taxes 1.95 1.68 3.18 1.03 1.15

Taxes 0.20 0.09 0.45 0.03 0.01

Net income 1.76 1.58 2.73 1.00 1.14

Ratios Percent or number 

Current 1.18 1.28 1.53 1.30 1.26

 

Debt to asset 0.72 0.60 0.55 0.55 0.58

Debt to equity 2.51 1.47 1.23 1.24 1.37

Times interest earned 5.48 9.40 11.31 10.44 8.06

 

Total asset turnover 2.86 5.32 3.86 5.84 6.83

Fixed asset turnover 15.12 16.21 13.39 22.77 42.70

 

Gross profit margin 8.00 11.54 9.44 6.67 6.78

Return on assets 6.83 9.99 13.44 6.64 9.00

Return on member equity 19.69 23.22 38.11 18.57 21.95
Cooperative Statistics, 2009 35

Appendix table 6–Common size analysis, by cooperative type and size, 2009 (continued)

Type of cooperative Dairy and dairy products

Cooperative sales size $10 to $5 to $1 to Less than

 $20 million $10 million $5 million $1 million 

Balance sheet Percent of total assets

Current assets 70.79 56.66 64.93 50.59

Other assets 4.61 11.32 7.01 8.03

Investments 11.00 21.61 12.76 18.39

PP&E1 (net) 13.60 10.40 15.29 22.99

Total assets 100.00 100.00 100.00 100.00

 

Current liabilities 57.72 40.38 43.49 36.94

Total liabilities 63.63 44.32 50.22 48.70

Allocated equity 27.07 47.16 34.46 65.01

Retained earnings 9.30 8.52 15.31 -13.71

Total equity 36.37 55.68 49.78 51.30

Total equity and liabilities 100.00 100.00 100.00 100.00 

Income statement Percent of total sales

Total sales 100.00 100.00 100.00 100.00

Cost of goods sold 96.23 92.29 91.20 90.02

Gross margin 3.77 7.71 8.80 9.98

 

Service and other income 1.79 1.03 3.26 6.69

Gross revenue 5.55 8.74 12.06 16.66

Expenses

Wages 1.43 4.30 3.39 7.45

Depreciation 0.38 0.25 0.55 1.23

Interest 0.17 0.10 0.27 0.81

Other 3.01 3.77 6.45 7.84

Total expenses 4.99 8.42 10.67 17.33

 

Net operating margins 0.57 0.31 1.39 -0.66

Patronage income 0.35 0.39 0.31 0.46

Non-operating income 0.20 0.75 0.33 0.37

Net income before taxes 1.12 1.45 2.03 0.16

Taxes 0.02 0.01 -0.01 0.00

Net income 1.10 1.44 2.04 0.16

Ratios Percent or number

Current 1.23 1.40 1.49 1.37

 

Debt to asset 0.64 0.44 0.50 0.49

Debt to equity 1.75 0.80 1.01 0.95

Times interest earned 7.53 15.39 8.45 1.20

 

Total asset turnover 7.88 5.38 5.35 2.18

Fixed asset turnover 57.94 51.70 34.98 9.47

 

Gross profit margin 3.77 7.71 8.80 9.98

Return on assets 10.15 8.35 12.31 2.11

Return on member equity 31.91 16.45 31.66 0.53

(continued next page)
36 Cooperative Statistics, 2009

Appendix table 6–Common size analysis, by cooperative type and size, 2009 (continued)

Type of cooperative Fruit and vegetable (fresh sales only)

Cooperative sales size ≥ $50 $20 to $10 to $5 to $1 to Less than

million $50 million $20 million $10 million $5 million $1 million 

Balance sheet Percent of total assets

Current assets 53.63 52.46 50.10 56.91 56.69 86.98

Other assets 6.48 4.62 6.35 5.84 9.08 5.45

Investments 4.34 4.33 3.06 5.81 3.03 0.00

PP&E1 (net) 35.55 38.60 40.50 31.44 31.19 7.57

Total assets 100.00 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 33.06 41.25 36.12 41.82 38.62 78.59

Total liabilities 61.35 57.32 55.96 54.30 56.93 80.86

Allocated equity 17.62 28.01 29.36 33.45 27.53 7.18

Retained earnings 21.03 14.67 14.69 12.25 15.54 11.96

Total equity 38.65 42.68 44.04 45.70 43.07 19.14

Total equity and liabilities 100.00 100.00 100.00 100.00 100.00 100.00

Income statement Percent of total sales

Total sales 100.00 100.00 100.00 100.00 100.00 100.00

Cost of goods sold 79.37 74.03 77.84 82.19 87.12 87.36

Gross margin 20.63 25.97 22.16 17.81 12.88 12.64

 

Service and other income 1.65 3.95 4.82 6.06 33.51 4.93

Gross revenue 22.28 29.92 26.98 23.86 46.38 17.57

Expenses

Wages 10.61 12.65 10.54 10.35 17.53 9.76

Depreciation 1.53 1.86 1.64 1.55 2.62 1.24

Interest 0.41 0.60 1.74 0.45 1.15 0.51

Other 8.01 12.72 11.25 10.45 20.09 5.98

Total expenses 20.56 27.84 25.17 22.80 41.38 17.49

 

Net operating margins 1.72 2.08 1.81 1.07 5.00 0.08

Patronage income 0.11 0.16 0.07 0.38 0.13 0.46

Non-operating income 0.20 0.93 0.56 0.71 0.21 0.26

Net income before taxes 2.03 3.18 2.44 2.16 5.34 0.80

Taxes 0.26 0.22 0.01 0.05 0.41 0.01

Net income 1.77 2.95 2.43 2.11 4.93 0.79

Ratios Percent or number

Current 1.62 1.27 1.39 1.36 1.47 1.11

 

Debt to asset 0.61 0.57 0.56 0.54 0.57 0.81

Debt to equity 1.59 1.34 1.27 1.19 1.32 4.22

Times interest earned 5.96 6.26 2.40 5.84 5.64 2.57

 

Total asset turnover 2.87 2.49 3.20 2.02 1.03 0.57

Fixed asset turnover 8.09 6.45 7.90 6.42 3.29 7.51

 

Gross profit margin 20.63 25.97 22.16 17.81 12.88 12.64

Return on assets 7.00 9.40 13.37 5.25 6.65 0.74

Return on member equity 28.85 26.23 26.47 12.70 18.35 6.22
Cooperative Statistics, 2009 37

Appendix table 6–Common size analysis, by cooperative type and size, 2009 (continued)

Type of cooperative Fruit and vegetable (processed and fresh sales)

Cooperative sales size ≥ $500 $250 $50 $10 Less than

 million to $420 million to $150 million to $50 million $6 million 

Balance sheet Percent of total assets

Current assets 56.48 64.62 78.01 55.87 70.93

Other assets 14.60 4.52 4.20 1.44 11.03

Investments 2.08 1.25 0.50 23.27 2.18

PP&E1 (net) 26.83 29.61 17.29 19.42 15.86

Total assets 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 38.21 38.74 69.69 44.09 45.23

Total liabilities 72.49 68.36 79.94 50.60 55.93

Allocated equity 26.42 18.74 14.88 39.22 35.81

Retained earnings 1.09 12.91 5.18 10.19 8.26

Total equity 27.51 31.64 20.06 49.40 44.07

Total equity and liabilities 100.00 100.00 100.00 100.00 100.00

Income statement Percent of total sales

Total sales 100.00 100.00 100.00 100.00 100.00

Cost of goods sold 71.75 74.37 85.79 71.61 83.57

Gross margin 28.25 25.63 14.21 28.39 16.43

 

Service and other income 3.62 1.78 2.01 2.50 7.68

Gross revenue 31.87 27.41 16.22 30.89 24.11

Expenses

Wages 8.58 15.38 5.05 11.97 11.03

Depreciation 2.31 2.24 0.79 1.14 0.91

Interest 0.66 1.49 0.86 0.77 0.76

Other 7.77 3.31 9.27 15.24 8.44

Total expenses 19.32 22.42 15.97 29.13 21.14

 

Net operating margins 12.55 5.00 0.25 1.76 2.96

Patronage income 0.04 0.02 0.03 1.84 0.05

Non-operating income 0.36 0.08 0.49 0.43 0.23

Net income before taxes 12.96 5.09 0.77 4.03 3.25

Taxes 0.21 0.39 0.00 0.66 0.02

Net income 12.75 4.70 0.77 3.38 3.23

Ratios Percent or number

Current 1.48 1.67 1.12 1.27 1.57

 

Debt to asset 0.72 0.68 0.80 0.51 0.56

Debt to equity 2.64 2.16 3.98 1.02 1.27

Times interest earned 20.62 4.42 1.90 6.21 5.25

 

Total asset turnover 1.71 1.61 1.87 1.83 2.35

Fixed asset turnover 6.36 5.45 10.82 9.44 14.81

 

Gross profit margin 28.25 25.63 14.21 28.39 16.43

Return on assets 23.23 10.60 3.06 8.82 9.43

Return on member equity 82.31 40.46 9.72 15.79 21.17

(continued next page)
38 Cooperative Statistics, 2009

Appendix table 6–Common size analysis, by cooperative type and size, 2009 (continued)

Type of cooperative Supply (with 100% supply sales)

Cooperative sales size ≥ $500 $300 to $50 to $30 to $25 to $20 to 

million $400 million $100 million $50 million $30 million $25 million

Balance sheet Percent of total assets

Current assets 58.32 56.65 54.66 56.07 56.50 50.21

Other assets 12.26 4.40 2.42 1.79 3.79 2.25

Investments 11.38 10.05 18.37 18.96 17.73 22.20

PP&E1 (net) 18.04 28.90 24.56 23.18 21.98 25.35

Total assets 100.00 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 38.55 40.46 36.77 40.68 42.21 35.12

Total liabilities 55.68 54.73 45.51 46.90 49.03 44.81

Allocated equity 21.62 27.96 31.92 27.99 33.53 34.66

Retained earnings 22.70 17.31 22.58 25.10 17.44 20.53

Total equity 44.32 45.27 54.49 53.10 50.97 55.19

Total equity and liabilities 100.00 100.00 100.00 100.00 100.00 100.00

Income statement Percent of total sales

Total sales 100.00 100.00 100.00 100.00 100.00 100.00

Cost of goods sold 93.03 86.77 86.13 86.63 86.45 84.00

Gross margin 6.97 13.23 13.87 13.37 13.55 16.00

 

Service and other income 0.20 2.70 1.77 1.75 2.90 2.63

Gross revenue 7.17 15.93 15.64 15.13 16.46 18.62

Expenses

Wages 3.17 7.64 6.65 7.28 8.46 8.60

Depreciation 0.71 1.49 1.26 1.32 1.55 1.77

Interest 0.41 0.68 0.45 0.59 0.69 0.77

Other 1.43 4.78 5.08 5.03 5.30 5.98

Total expenses 5.72 14.58 13.43 14.23 15.99 17.12

 

Net operating margins 1.45 1.35 2.21 0.90 0.47 1.50

Patronage income 0.22 2.16 1.69 1.87 1.98 1.99

Non-operating income 0.30 1.68 0.50 0.25 0.27 0.30

Net income before taxes 1.98 5.18 4.40 3.02 2.71 3.80

Taxes 0.32 0.76 0.61 0.44 0.09 0.23

Net income 1.66 4.43 3.79 2.58 2.63 3.56

Ratios Percent or number

Current 1.51 1.40 1.49 1.38 1.34 1.43

 

Debt to asset 0.56 0.55 0.46 0.47 0.49 0.45

Debt to equity 1.26 1.21 0.84 0.88 0.96 0.81

Times interest earned 5.86 8.65 10.88 6.08 4.94 5.93

 

Total asset turnover 3.27 2.06 2.47 2.31 1.87 1.85

Fixed asset turnover 18.12 7.14 10.04 9.95 8.52 7.28

 

Gross profit margin 6.97 13.23 13.87 13.37 13.55 16.00

Return on assets 7.79 12.09 11.95 8.34 6.37 8.43

Return on member equity 25.11 32.68 29.26 21.30 14.68 18.96
Cooperative Statistics, 2009 39

Appendix table 6–Common size analysis, by cooperative type and size, 2009 (continued)

Type of cooperative Supply (with 100% supply sales)

Cooperative sales size $15 to $10 to $5 to $1 to Less than

$20 million $15 million $10 million $5 million $1 million 

Balance sheet Percent of total assets

Current assets 50.86 51.58 58.68 58.19 62.17

Other assets 2.58 4.16 3.73 6.57 7.63

Investments 20.00 22.48 16.52 14.50 12.14

PP&E1 (net) 26.55 21.78 21.06 20.74 18.06

Total assets 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 33.41 31.75 31.82 30.69 35.64

Total liabilities 42.07 36.13 38.17 40.04 45.18

Allocated equity 32.11 41.28 38.32 39.05 41.47

Retained earnings 25.83 22.59 23.50 20.92 13.35

Total equity 57.93 63.87 61.83 59.96 54.82

Total equity and liabilities 100.00 100.00 100.00 100.00 100.00

Income statement Percent of total sales

Total sales 100.00 100.00 100.00 100.00 100.00

Cost of goods sold 85.73 86.26 85.28 84.84 84.80

Gross margin 14.27 13.74 14.72 15.16 15.20

 

Service and other income 4.14 2.48 2.59 3.21 8.33

Gross revenue 18.41 16.22 17.30 18.37 23.53

Expenses

Wages 8.91 7.90 9.16 10.02 15.78

Depreciation 1.86 1.47 1.37 1.36 1.19

Interest 0.55 0.36 0.55 0.58 0.75

Other 5.60 5.26 4.90 5.67 6.03

Total expenses 16.92 14.99 15.98 17.63 23.75

 

Net operating margins 1.49 1.23 1.32 0.74 -0.22

Patronage income 2.13 2.17 1.48 1.26 0.42

Non-operating income 0.26 0.36 0.07 0.33 0.16

Net income before taxes 3.88 3.76 2.86 2.34 0.36

Taxes 0.37 0.29 0.25 0.16 0.03

Net income 3.51 3.47 2.61 2.18 0.34

Ratios Percent or number

Current 1.52 1.62 1.84 1.90 1.74

 

Debt to asset 0.42 0.36 0.38 0.40 0.45

Debt to equity 0.73 0.57 0.62 0.67 0.82

Times interest earned 8.07 11.40 6.20 5.03 1.49

 

Total asset turnover 1.84 2.09 2.02 1.86 1.89

Fixed asset turnover 6.93 9.60 9.58 8.96 10.47

 

Gross profit margin 14.27 13.74 14.72 15.16 15.20

Return on assets 8.14 8.62 6.88 5.41 2.10

Return on member equity 20.11 17.58 13.75 10.36 1.54

(continued next page)
40 Cooperative Statistics, 2009

Appendix table 6–Common size analysis, by cooperative type and size, 2009 (continued)

Type of cooperative Mixed supply (with 99% to 50% supply sales)

Cooperative sales size $200 to $100 to $50 to $30 to

$850 million $200 million $100 million $50 million 

Balance sheet Percent of total assets

Current assets 61.52 57.43 60.23 54.80

Other assets 2.72 2.83 2.43 2.59

Investments 13.83 16.76 15.73 18.32

PP&E1 (net) 21.93 22.98 21.61 24.28

Total assets 100.00 100.00 100.00 100.00

 

Current liabilities 44.38 42.20 45.95 36.55

Total liabilities 59.70 57.25 57.23 43.80

Allocated equity 22.04 19.11 23.78 35.98

Retained earnings 18.26 23.64 18.99 20.22

Total equity 40.30 42.75 42.77 56.20

Total equity and liabilities 100.00 100.00 100.00 100.00

Income statement Percent of total sales

Total sales 100.00 100.00 100.00 100.00

Cost of goods sold 91.11 90.98 89.21 89.27

Gross margin 8.89 9.02 10.79 10.73

 

Service and other income 3.32 3.17 3.44 3.48

Gross revenue 12.21 12.19 14.23 14.21

Expenses

Wages 5.34 5.62 7.00 6.23

Depreciation 1.33 1.23 1.42 1.53

Interest 0.71 0.71 0.74 0.54

Other 4.69 4.59 5.13 5.21

Total expenses 12.07 12.15 14.29 13.52

 

Net operating margins 0.14 0.03 -0.06 0.69

Patronage income 1.61 1.88 1.80 1.89

Non-operating income 0.82 0.41 0.20 0.38

Net income before taxes 2.58 2.32 1.94 2.96

Taxes 0.49 0.36 0.23 0.33

Net income 2.09 1.96 1.71 2.63

Ratios Percent or number

Current 1.39 1.36 1.31 1.50

 

Debt to asset 0.60 0.57 0.57 0.44

Debt to equity 1.48 1.34 1.34 0.78

Times interest earned 4.65 4.26 3.63 6.43

 

Total asset turnover 2.56 2.62 2.34 2.31

Fixed asset turnover 11.67 11.42 10.81 9.51

 

Gross profit margin 8.89 9.02 10.79 10.73

Return on assets 8.40 7.96 6.26 8.09

Return on member equity 24.24 26.96 16.85 16.87
Cooperative Statistics, 2009 41

Appendix table 6–Common size analysis, by cooperative type and size, 2009 (continued)

Type of cooperative Mixed supply (with 99% to 50% supply sales)

Cooperative sales size $20 to $10 to $5 to Less than

$30 million $20 million $10 million $5 million

Balance sheet Percent of total assets

Current assets 55.27 55.98 59.03 48.79

Other assets 6.18 4.24 3.62 12.20

Investments 13.64 15.71 15.24 12.02

PP&E1 (net) 24.91 24.08 22.10 26.99

Total assets 100.00 100.00 100.00 100.00

 

Current liabilities 34.96 37.67 31.15 34.02

Total liabilities 45.40 46.29 38.01 42.84

Allocated equity 38.58 31.22 36.38 40.82

Retained earnings 16.02 22.49 25.61 16.34

Total equity 54.60 53.71 61.99 57.16

Total equity and liabilities 100.00 100.00 100.00 100.00

Income statement Percent of total sales

Total sales 100.00 100.00 100.00 100.00

Cost of goods sold 87.61 87.60 87.43 85.12

Gross margin 12.39 12.40 12.57 14.88

 

Service and other income 4.04 4.73 4.62 6.15

Gross revenue 16.43 17.13 17.19 21.03

Expenses

Wages 7.62 8.04 7.69 10.73

Depreciation 1.59 1.63 1.53 1.56

Interest 0.62 0.60 0.55 0.80

Other 5.71 5.47 5.52 7.29

Total expenses 15.55 15.75 15.29 20.37

 

Net operating margins 0.88 1.38 1.91 0.66

Patronage income 1.84 1.50 1.43 0.62

Non-operating income 0.75 0.47 0.39 0.32

Net income before taxes 3.48 3.36 3.72 1.60

Taxes 0.22 0.32 0.36 0.12

Net income 3.26 3.04 3.36 1.48

Ratios Percent or number

Current 1.58 1.49 1.89 1.43

 

Debt to asset 0.45 0.46 0.38 0.43

Debt to equity 0.83 0.86 0.61 0.75

Times interest earned 6.58 6.56 7.80 3.01

 

Total asset turnover 1.97 2.13 2.33 1.55

Fixed asset turnover 7.92 8.85 10.52 5.76

 

Gross profit margin 12.39 12.40 12.57 14.88

Return on assets 8.09 8.44 9.93 3.73

Return on member equity 16.67 20.76 21.49 5.65

(continued next page)
42 Cooperative Statistics, 2009

Type of cooperative Mixed grain and oilseed marketing (with 49% to 25% supply sales)

Cooperative sales size $100 to $50 to $30 to

> $225 million $225 million $100 million $50 million

Balance sheet Percent of total assets

Current assets 65.36 62.14 65.78 65.37

Other assets 1.79 9.57 2.01 2.62

Investments 11.43 9.89 9.95 10.38

PP&E1 (net) 21.43 18.41 22.26 21.63

Total assets 100.00 100.00 100.00 100.00

 

Current liabilities 47.61 49.05 52.71 51.17

Total liabilities 65.54 66.95 64.46 59.60

Allocated equity 13.80 17.58 22.19 27.48

Retained earnings 20.66 15.46 13.34 12.91

Total equity 34.46 33.05 35.54 40.40

Total equity and liabilities 100.00 100.00 100.00 100.00

Income statement Percent of total sales

Total sales 100.00 100.00 100.00 100.00

Cost of goods sold 93.93 91.10 92.83 92.96

Gross margin 6.07 8.90 7.17 7.04

 

Service and other income 3.23 4.20 3.50 3.43

Gross revenue 9.29 13.10 10.68 10.47

Expenses

Wages 3.01 3.86 3.72 3.86

Depreciation 1.02 1.02 1.11 1.22

Interest 0.78 0.86 0.69 0.59

Other 3.19 3.80 3.36 2.94

Total expenses 7.99 9.54 8.88 8.60

 

Net operating margins 1.30 3.56 1.79 1.86

Patronage income 0.98 1.17 1.16 1.23

Non-operating income -0.03 0.12 0.04 0.17

Net income before taxes 2.25 4.85 2.99 3.26

Taxes 0.23 0.33 0.32 0.13

Net income 2.02 4.52 2.67 3.13

Ratios Percent or number

Current 1.37 1.27 1.25 1.28

 

Debt to asset 0.66 0.67 0.64 0.60

Debt to equity 1.90 2.03 1.81 1.48

Times interest earned 3.90 6.62 5.31 6.58

 

Total asset turnover 3.01 2.34 2.64 2.64

Fixed asset turnover 14.07 12.71 11.88 12.22

 

Gross profit margin 6.07 8.90 7.17 7.04

Return on assets 9.12 13.36 9.74 10.17

Return on member equity 44.10 60.17 31.79 30.13

Appendix table 6–Common size analysis, by cooperative type and size, 2009 (continued)
Cooperative Statistics, 2009 43

Type of cooperative Mixed grain and oilseed marketing (with 49% to 25% supply sales)

Cooperative sales size $20 to $15 to $10 to $5 to Less than

$30 million $20 million $15 million $10 million $5 million

Balance sheet Percent of total assets

Current assets 67.95 66.97 66.60 66.84 60.97

Other assets 4.10 3.38 3.89 5.95 12.69

Investments 8.96 7.24 9.06 6.78 2.88

PP&E1 (net) 18.99 22.41 20.45 20.43 23.45

Total assets 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 53.28 51.49 48.45 47.14 41.14

Total liabilities 60.62 59.74 56.72 55.25 51.51

Allocated equity 23.79 24.01 22.20 28.44 29.56

Retained earnings 15.59 16.25 21.09 16.31 18.93

Total equity 39.38 40.26 43.28 44.75 48.49

Total equity and liabilities 100.00 100.00 100.00 100.00 100.00

Income statement Percent of total sales

Total sales 100.00 100.00 100.00 100.00 100.00

Cost of goods sold 92.82 91.94 92.86 91.94 90.43

Gross margin 7.18 8.06 7.14 8.06 9.57

 

Service and other income 3.64 3.75 4.20 3.96 6.00

Gross revenue 10.82 11.80 11.34 12.01 15.57

Expenses

Wages 4.02 4.34 4.68 5.21 7.49

Depreciation 1.15 1.28 1.31 1.21 1.43

Interest 0.61 0.62 0.56 0.59 0.63

Other 3.42 3.81 3.78 3.78 4.68

Total expenses 9.20 10.05 10.33 10.78 14.23

 

Net operating margins 1.62 1.75 1.01 1.23 1.33

Patronage income 0.84 0.49 0.83 0.56 0.16

Non-operating income 0.24 0.33 0.25 0.15 0.36

Net income before taxes 2.70 2.57 2.09 1.94 1.85

Taxes 0.21 0.18 0.15 0.12 0.05

Net income 2.49 2.39 1.94 1.82 1.79

Ratios Percent or number

Current 1.28 1.30 1.37 1.42 1.48

 

Debt to asset 0.61 0.60 0.57 0.55 0.52

Debt to equity 1.54 1.48 1.31 1.23 1.06

Times interest earned 5.46 5.16 4.76 4.31 3.93

 

Total asset turnover 2.55 2.71 2.44 2.22 1.95

Fixed asset turnover 13.41 12.11 11.95 10.85 8.32

 

Gross profit margin 7.18 8.06 7.14 8.06 9.57

Return on assets 8.42 8.64 6.47 5.60 4.84

Return on member equity 26.63 27.02 21.36 14.18 11.83

(continued next page)

Appendix table 6–Common size analysis, by cooperative type and size, 2009 (continued)
44 Cooperative Statistics, 2009

Appendix table 6–Common size analysis, by cooperative type and size, 2009 (continued)

Type of cooperative Grain and oilseed marketing (with less than 25% supply sales)

Cooperative sales size ≥$300 $100 $50 $30 

million to $300 million to $100 million to $50 million

Balance sheet Percent of total assets

Current assets 65.37 66.13 69.77 67.99

Other assets 3.35 2.62 1.92 0.39

Investments 8.23 8.15 6.32 6.60

PP&E1 (net) 23.05 23.10 21.99 25.01

Total assets 100.00 100.00 100.00 100.00

 

Current liabilities 50.58 51.54 53.72 52.60

Total liabilities 65.68 63.52 64.63 63.30

Allocated equity 17.95 19.14 20.45 17.63

Retained earnings 16.37 17.34 14.92 19.07

Total equity 34.32 36.48 35.37 36.70

Total equity and liabilities 100.00 100.00 100.00 100.00

Income statement Percent of total sales

Total sales 100.00 100.00 100.00 100.00

Cost of goods sold 91.67 94.76 93.64 95.12

Gross margin 8.33 5.24 6.36 4.88

 

Service and other income 2.95 2.82 3.08 2.67

Gross revenue 11.28 8.05 9.43 7.54

Expenses

Wages 4.47 2.30 2.68 2.03

Depreciation 0.83 0.79 0.97 0.83

Interest 0.77 0.64 0.58 0.50

Other 3.83 2.30 2.62 2.14

Total expenses 9.90 6.04 6.85 5.50

 

Net operating margins 1.38 2.02 2.59 2.04

Patronage income 0.61 0.78 0.75 0.52

Non-operating income 0.24 0.16 0.18 0.21

Net income before taxes 2.23 2.96 3.52 2.76

Taxes 0.33 0.36 0.39 0.29

Net income 1.90 2.60 3.13 2.47

Ratios Percent or number

Current 1.29 1.28 1.30 1.29

 

Debt to asset 0.66 0.64 0.65 0.63

Debt to equity 1.91 1.74 1.83 1.72

Times interest earned 3.91 5.59 7.02 6.54

 

Total asset turnover 3.26 3.11 2.85 3.29

Fixed asset turnover 14.16 13.46 12.98 13.16

 

Gross profit margin 8.33 5.24 6.36 4.88

Return on assets 9.78 11.20 11.70 10.73

Return on member equity 34.60 42.18 43.68 46.12
Cooperative Statistics, 2009 45

Appendix table 6–Common size analysis, by cooperative type and size, 2009 (continued)

Type of cooperative Grain and oilseed marketing (with less than 25% supply sales)

Cooperative sales size $20 to $15 to $10 to $5 to Less than

$30 million $20 million $15 million $10 million $5 million

Balance sheet Percent of total assets

Current assets 71.77 70.47 68.55 66.34 64.51

Other assets 1.27 3.15 0.21 4.56 5.20

Investments 6.04 3.59 6.19 7.50 5.11

PP&E1 (net) 20.92 22.80 25.04 21.61 25.18

Total assets 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 57.17 56.27 47.17 41.35 44.57

Total liabilities 64.88 62.64 57.18 50.05 54.97

Allocated equity 18.32 18.58 20.33 26.42 32.98

Retained earnings 16.80 18.78 22.48 23.52 12.06

Total equity 35.12 37.36 42.82 49.95 45.03

Total equity and liabilities 100.00 100.00 100.00 100.00 100.00

Income statement Percent of total sales

Total sales 100.00 100.00 100.00 100.00 100.00

Cost of goods sold 94.64 93.36 94.94 93.74 91.13

Gross margin 5.36 6.64 5.06 6.26 8.87

 

Service and other income 2.93 2.97 3.51 3.25 6.77

Gross revenue 8.29 9.61 8.57 9.51 15.64

Expenses

Wages 2.36 2.79 2.46 3.39 5.89

Depreciation 0.88 1.13 0.79 1.02 1.59

Interest 0.59 0.60 0.35 0.50 0.81

Other 2.19 2.79 2.92 3.09 6.17

Total expenses 6.02 7.30 6.53 8.01 14.45

 

Net operating margins 2.27 2.31 2.04 1.50 1.19

Patronage income 0.60 0.41 0.52 0.85 0.35

Non-operating income 0.25 0.14 0.44 0.12 0.11

Net income before taxes 3.12 2.86 3.01 2.46 1.65

Taxes 0.40 0.26 0.12 0.08 0.03

Net income 2.72 2.60 2.89 2.38 1.62

Ratios Percent or number

Current 1.26 1.25 1.45 1.60 1.45

 

Debt to asset 0.65 0.63 0.57 0.50 0.55

Debt to equity 1.85 1.68 1.34 1.00 1.22

Times interest earned 6.28 5.78 9.51 5.91 3.04

 

Total asset turnover 2.62 2.69 2.33 2.83 1.98

Fixed asset turnover 12.53 11.80 9.32 13.08 7.85

 

Gross profit margin 5.36 6.64 5.06 6.26 8.87

Return on assets 9.73 9.30 7.84 8.38 4.85

Return on member equity 38.86 37.57 33.16 25.45 9.72

(continued next page)
46 Cooperative Statistics, 2009

Appendix table 6–Common size analysis, by cooperative type and size, 2009 (continued)

Type of cooperative Fish marketing Poultry marketing

Cooperative sales size ≥ $10 $5 to $1 to Less than ≥ $50 < $50 

million $10 million $5 million $1 million million million 

Balance sheet Percent of total assets

Current assets 73.23 41.67 43.60 45.36 62.10 57.79

Other assets 0.55 0.01 11.78 0.17 1.24 16.81

Investments 0.10 0.00 0.00 0.00 1.40 0.00

PP&E1 (net) 26.12 58.32 44.62 54.46 35.26 25.40

Total assets 100.00 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 60.71 22.15 44.57 34.97 33.58 31.67

Total liabilities 65.71 70.60 70.75 60.91 54.58 40.96

Allocated equity 27.67 24.10 17.80 38.64 19.23 25.60

Retained earnings 6.62 5.30 11.45 0.45 26.19 33.44

Total equity 34.29 29.40 29.25 39.09 45.42 59.04

Total equity and liabilities 100.00 100.00 100.00 100.00 100.00 100.00

Income statement Percent of total sales

Total sales 100.00 100.00 100.00 100.00 100.00 100.00

Cost of goods sold 77.89 72.24 84.77 86.90 89.70 79.56

Gross margin 22.11 27.76 15.23 13.10 10.30 20.44

 

Service and other income 0.00 9.22 0.71 3.28 0.79 1.34

Gross revenue 22.11 36.98 15.94 16.38 11.10 21.78

Expenses

Wages 6.51 11.04 5.21 7.69 6.68 6.49

Depreciation 0.88 3.66 0.97 0.94 1.12 1.37

Interest 0.58 1.13 0.50 0.50 0.49 0.23

Other 12.95 20.27 8.31 7.33 2.98 10.58

Total expenses 20.91 36.10 14.98 16.46 11.27 18.67

 

Net operating margins 1.20 0.88 0.96 -0.08 -0.18 3.11

Patronage income 0.01 0.03 0.04 0.09 0.03 0.00

Non-operating income 1.13 0.00 0.04 0.00 -0.05 0.03

Net income before taxes 2.34 0.91 1.04 0.02 -0.20 3.14

Taxes 0.04 0.03 -0.01 0.00 -0.76 0.01

Net income 2.30 0.88 1.05 0.02 0.57 3.13

Ratios Percent or number

Current 1.21 1.88 0.98 1.30 1.85 1.82

 

Debt to asset 0.66 0.71 0.71 0.61 0.55 0.41

Debt to equity 1.92 2.40 2.42 1.56 1.20 0.69

Times interest earned 5.04 1.80 3.09 1.03 0.60 14.65

 

Total asset turnover 3.22 1.88 6.42 2.37 3.36 1.38

Fixed asset turnover 12.32 3.23 14.38 4.35 9.54 5.43

 

Gross profit margin 22.11 27.76 15.23 13.10 10.30 20.44

Return on assets 9.39 3.85 9.84 1.23 0.98 4.65

Return on member equity 26.73 6.89 37.96 0.11 9.89 16.87
Cooperative Statistics, 2009 47

Appendix table 6–Common size analysis, by cooperative type and size, 2008 (continued)

Type of cooperative Livestock marketing

Cooperative sales size ≥ $250 $50 to $10 to $5 to $1 to Less than

million $75 million to $50 million to $10 million to $5 million $1 million 

Balance sheet Percent of total assets

Current assets 79.36 87.47 81.18 65.15 51.54 63.96

Other assets 3.26 2.41 5.58 12.27 23.87 14.04

Investments 6.50 1.78 0.42 0.00 2.13 0.00

PP&E1 (net) 10.88 8.34 12.81 22.59 22.46 22.00

Total assets 100.00 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 64.98 67.56 59.49 41.45 47.48 49.65

Total liabilities 78.02 77.15 73.08 49.85 53.77 59.86

Allocated equity 12.09 16.90 21.93 37.35 21.30 32.38

Retained earnings 9.89 5.95 5.00 12.79 24.92 7.76

Total equity 21.98 22.85 26.92 50.15 46.23 40.14

Total equity and liabilities 100.00 100.00 100.00 100.00 100.00 100.00

Income statement Percent of total sales

Total sales 100.00 100.00 100.00 100.00 100.00 100.00

Cost of goods sold 99.45 98.37 91.81 94.60 92.57 89.03

Gross margin 0.55 1.63 8.19 5.40 7.43 10.97

 

Service and other income 1.23 2.92 5.18 2.59 3.84 41.45

Gross revenue 1.78 4.55 13.37 7.99 11.27 52.42

Expenses

Wages 0.91 1.85 5.38 2.71 3.44 12.18

Depreciation 0.06 0.33 1.00 0.79 0.84 1.21

Interest 0.09 0.61 1.11 0.38 0.41 0.56

Other 0.61 1.11 4.71 3.86 5.71 37.82

Total expenses 1.68 3.90 12.21 7.74 10.41 51.76

 

Net operating margins 0.10 0.65 1.16 0.25 0.86 0.66

Patronage income 0.03 0.03 0.02 0.00 0.00 0.00

Non-operating income -0.05 0.07 0.02 0.04 0.01 0.62

Net income before taxes 0.09 0.75 1.20 0.29 0.87 1.28

Taxes 0.01 0.19 0.20 0.00 0.00 0.00

Net income 0.08 0.56 1.00 0.29 0.87 1.28

Ratios Percent or number

Current 1.22 1.29 1.36 1.57 1.09 1.29

 

Debt to asset 0.78 0.77 0.73 0.50 0.54 0.60

Debt to equity 3.55 3.38 2.71 0.99 1.16 1.49

Times interest earned 2.00 2.22 2.08 1.77 3.11 3.30

 

Total asset turnover 15.47 2.12 1.42 8.68 4.86 0.76

Fixed asset turnover 142.20 25.45 11.10 38.41 21.64 3.44

 

Gross profit margin 0.55 1.63 8.19 5.40 7.43 10.97

Return on assets 2.76 2.88 3.29 5.89 6.23 1.39

Return on member equity 10.63 7.04 6.49 6.84 19.85 2.98

 (continued next page)
48 Cooperative Statistics, 2009

Type of cooperative Dry bean and pea marketing Nut marketing Biofuels

Cooperative sales size ≥ $25 < $10 ≥ $10 < $10 

million million million million All sizes

Balance sheet Percent of total assets

Current assets 82.75 75.84 65.73 45.03 22.50

Other assets 0.01 0.12 3.64 3.14 5.09

Investments 4.17 1.81 1.51 0.32 2.26

PP&E1 (net) 13.07 22.22 29.12 51.52 70.14

Total assets 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 71.82 43.54 34.06 34.12 23.15

Total liabilities 75.04 47.27 73.57 57.68 37.27

Allocated equity 20.54 32.62 19.07 33.38 41.56

Retained earnings 4.42 20.10 7.36 8.93 21.16

Total equity 24.96 52.73 26.43 42.32 62.73

Total equity and liabilities 100.00 100.00 100.00 100.00 100.00

Income statement Percent of total sales

Total sales 100.00 100.00 100.00 100.00 100.00

Cost of goods sold 87.96 86.67 87.96 76.18 88.02

Gross margin 12.04 13.33 12.04 23.82 11.98

 

Service and other income 0.49 9.36 0.08 34.23 0.67

Gross revenue 12.53 22.69 12.12 58.04 12.65

Expenses

Wages 4.17 10.51 7.36 24.41 3.03

Depreciation 1.07 1.97 0.87 10.80 4.85

Interest 0.80 1.11 0.93 2.14 1.07

Other 3.13 4.60 1.32 15.43 5.73

Total expenses 9.18 18.19 10.47 52.77 14.68

 

Net operating margins 3.36 4.50 1.65 5.27 -2.03

Patronage income 0.70 0.00 0.11 0.12 0.02

Non-operating income 0.01 0.65 0.08 0.24 0.71

Net income before taxes 4.06 5.15 1.84 5.63 -1.30

Taxes 0.05 0.64 0.08 0.02 -0.10

Net income 4.02 4.52 1.77 5.61 -1.19

Ratios Percent or number

Current 1.15 1.74 1.93 1.32 0.97

 

Debt to asset 0.75 0.47 0.74 0.58 0.37

Debt to equity 3.01 0.90 2.78 1.36 0.59

Times interest earned 6.08 5.62 2.99 3.63 -0.21

 

Total asset turnover 1.70 1.64 2.94 0.75 1.53

Fixed asset turnover 12.98 7.40 10.10 1.46 2.18

 

Gross profit margin 12.04 13.33 12.04 23.82 11.98

Return on assets 8.25 10.31 8.16 5.86 -0.35

Return on member equity 33.19 22.77 27.27 12.69 -4.40

Appendix table 6–Common size analysis, by cooperative type and size, 2009 (continued)
Cooperative Statistics, 2009 49

Type of cooperative Rice marketing Tobacco marketing Wool marketing

Cooperative sales size ≥ $50 < $15 ≥ $ 4 < $4

million million million million All sizes 

Balance sheet Percent of total assets

Current assets 65.08 60.88 50.39 80.59 35.00

Other assets 5.33 12.36 39.53 2.45 51.74

Investments 1.23 4.83 0.00 0.00 0.00

PP&E1 (net) 28.35 21.93 10.08 16.97 13.27

Total assets 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 38.96 49.43 21.75 4.82 17.18

Total liabilities 64.44 54.23 23.50 5.56 37.51

Allocated equity 21.58 65.69 8.48 87.35 39.45

Retained earnings 13.98 -19.92 68.02 7.09 23.04

Total equity 35.56 45.77 76.50 94.44 62.49

Total equity and liabilities 100.00 100.00 100.00 100.00 100.00

Income statement Percent of total sales

Total sales 100.00 100.00 100.00 100.00 100.00

Cost of goods sold 76.03 93.39 94.29 38.30 64.86

Gross margin 23.97 6.61 5.71 61.70 35.14

 

Service and other income 0.77 5.96 1.01 12.44 3.65

Gross revenue 24.74 12.57 6.72 74.13 38.79

Expenses

Wages 9.07 3.79 3.07 9.64 7.06

Depreciation 1.70 0.42 0.66 2.37 0.60

Interest 0.86 0.17 0.96 0.36 0.03

Other 11.58 7.13 5.56 56.90 28.84

Total expenses 23.22 11.51 10.25 69.27 36.53

 

Net operating margins 1.52 1.06 -3.53 4.86 2.26

Patronage income 0.05 0.04 0.00 0.00 0.00

Non-operating income -0.02 0.65 6.08 5.63 0.01

Net income before taxes 1.55 1.75 2.55 10.49 2.27

Taxes 0.36 0.01 1.19 4.23 0.00

Net income 1.19 1.74 1.36 6.26 2.27

Ratios Percent or number

Current 1.67 1.23 2.32 16.74 2.04

 

Debt to asset 0.64 0.54 0.24 0.06 0.38

Debt to equity 1.81 1.18 0.31 0.06 0.60

Times interest earned 2.80 11.45 3.67 30.36 72.05

 

Total asset turnover 2.44 5.74 0.36 0.10 0.70

Fixed asset turnover 8.61 26.15 3.61 0.58 5.28

 

Gross profit margin 23.97 6.61 5.71 61.70 35.14

Return on assets 5.89 11.02 1.28 1.06 1.61

Return on member equity 13.49 15.20 5.85 0.70 4.03

(continued next page)

Appendix table 6–Common size analysis, by cooperative type and size, 2009 (continued)
50 Cooperative Statistics, 2009

Type of cooperative Sugar marketing

Cooperative sales size ≥ $300 $100 to $30 to Less than 

million $300 million $100 million $20 million 

Balance sheet Percent of total assets

Current assets 38.54 41.78 26.01 81.25

Other assets 25.54 1.65 2.61 7.52

Investments 0.65 24.17 3.42 0.00

PP&E1 (net) 35.27 32.41 67.96 11.23

Total assets 100.00 100.00 100.00 100.00

 

Current liabilities 34.39 36.24 17.55 24.77

Total liabilities 69.03 52.89 42.86 39.59

Allocated equity 41.39 41.78 39.17 30.82

Retained earnings -10.42 5.33 17.97 29.60

Total equity 30.97 47.11 57.14 60.41

Total equity and liabilities 100.00 100.00 100.00 100.00

Income statement Percent of total sales

Total sales 100.00 100.00 100.00 100.00

Cost of goods sold 82.50 82.40 71.45 94.74

Gross margin 17.50 17.60 28.55 5.26

 

Service and other income 2.28 4.89 0.07 3.27

Gross revenue 19.78 22.49 28.62 8.53

Expenses

Wages 9.06 8.04 12.13 0.24

Depreciation 2.99 2.37 2.66 0.03

Interest 1.04 0.87 1.50 0.01

Other 4.16 11.24 12.95 7.52

Total expenses 17.25 22.52 29.24 7.81

 

Net operating margins 2.53 -0.04 -0.62 0.72

Patronage income 0.03 0.11 0.13 0.00

Non-operating income -0.04 1.03 5.68 0.02

Net income before taxes 2.52 1.10 5.18 0.73

Taxes -0.03 0.13 0.31 0.00

Net income 2.55 0.97 4.87 0.73

Ratios Percent or number

Current 1.12 1.15 1.48 3.28

 

Debt to asset 0.69 0.53 0.43 0.40

Debt to equity 2.23 1.12 0.75 0.66

Times interest earned 3.42 2.26 4.45 60.51

 

Total asset turnover 1.70 1.64 1.35 39.54

Fixed asset turnover 4.82 5.05 1.98 352.11

 

Gross profit margin 17.50 17.60 28.55 5.26

Return on assets 6.05 3.22 8.99 29.53

Return on member equity 10.48 3.79 16.73 94.23

Appendix table 6–Common size analysis, by cooperative type and size, 2009 (continued)
Cooperative Statistics, 2009 51

Type of cooperative Rice drier Transportation Storage Hulling

Cooperative sales size ≥ $1 < $ 1

All sizes million million All sizes All sizes

Balance sheet Percent of total assets

Current assets 45.92 46.53 44.79 62.19 36.69

Other assets 3.47 1.66 0.58 0.04 1.30

Investments 0.20 1.85 3.56 0.00 0.13

PP&E1 (net) 50.40 49.97 51.08 37.77 61.88

Total assets 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 22.50 28.15 9.04 9.52 27.23

Total liabilities 22.50 35.15 9.44 15.01 51.10

Allocated equity 70.43 50.44 84.85 84.32 44.91

Retained earnings 7.06 14.41 5.71 0.67 3.99

Total equity 77.50 64.85 90.56 84.99 48.90

Total equity and liabilities 100.00 100.00 100.00 100.00 100.00

Income statement Percent of service

Service and other income 100.00 100.00 100.00 100.00 100.00

Gross revenue 100.00 100.00 100.00 100.00 100.00

Expenses

Wages 23.95 30.00 39.24 18.65 24.10

Depreciation 5.96 7.90 11.42 9.92 10.33

Interest 0.09 0.36 0.20 0.03 2.40

Other 33.37 57.69 37.99 32.35 38.94

Total expenses 63.37 95.95 88.86 60.95 75.77

 

Net operating margins 36.63 4.05 11.14 39.05 35.24

Patronage income 0.15 0.35 2.03 0.00 0.00

Non-operating income 0.94 0.51 0.66 0.29 0.85

Net income before taxes 37.73 4.91 13.83 39.33 36.09

Taxes 0.01 0.14 0.00 0.00 0.95

Net income 37.71 4.77 13.83 39.33 35.14

Ratios Percent or number

Current 2.04 1.65 4.95 6.53 1.35

 

Debt to asset 0.23 0.35 0.09 0.15 0.51

Debt to equity 0.29 0.54 0.10 0.18 1.05

Times interest earned 0.00 14.72 69.53 0.00 16.02

 

Return on assets 30.59 12.73 11.13 18.60 24.42

Return on member equity 43.31 22.85 12.93 22.04 49.63

Appendix table 6–Common size analysis, by cooperative type and size, 2009 (continued)
52 Cooperative Statistics, 2009

Appendix Table 7–Cooperative net income before taxes, 2000-20091

 

 Net operating From other

Year margins cooperatives2 Total

 

 Million dollars

2000 1,041 235 1,276

2001 1,039 318 1,357

2002 847 362 1,210

2003 1,013 92 1,105

2004 1,993 335 2,328

2005 2,147 401 2,548

2006 2,665 498 3,163

2007 3,184 646 3,830

2008 3,966 864 4,830

2009 3,498 904 4,402

 

 

1

 Totals may not add due to rounding. Excludes income from cooperative pooling operations. 2

 Dividends and patronage refunds received from other marketing, supply, and service

 cooperatives, and CoBank, where applicable. 
Cooperative Statistics, 2009 53

APPENDIX FIGURES

Supply

40.6%

Dairy

6.5%

Fruit & Vegetable

7.0%

Other Marketing

8.5%

Livestock &

Poultry

2.9%

Cotton

0.5%

Grain & Oilseed

23.7%

Service

10.5%

Percentages are based on a total of 2,389 cooperatives. 1 Includes dry bean and pea, nut, wool and mohair, tobacco, rice, sugar, fishery, and other product marketing cooperatives.

1

Appendix Figure 1–Distribution of Cooperatives by Type, 2009

0

1

2

3

4

5

6

7

1979 1981 1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009

Million

Memberships

Farms

Appendix Figure 2–U.S. Farms and Cooperative Memberships, 1979-2009
54 Cooperative Statistics, 2009

Other Marketing1

5.7%

Supply

35.5%

Service

3.2%

Cotton

1.2%

Fruit & Vegetable

11.1%

Livestock &

Poultry

1.9%

Sugar

4.7%

Grain & Oilseed

17.4%

Dairy

20.4%

Rice

2.1%

Percentages are based on a total of 122.6 thousand full-time employees. 1 Includes dry bean and pea, nut, wool and mohair, tobacco, fishery, and other product marketing cooperatives.

Appendix Figure 3–Distribution of Full-Time Employees by Cooperatives Type, 2009

0

25

50

75

100

125

150

175

200

1979 1981 1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009

Gross1

Net2

2Excludes inter-cooperative business.

1 Includes inter-cooperative business.

Appendix Figure 4–Cooperatives’ Gross and Net Business Volumes, 1979-2009

Billion dollars
Cooperative Statistics, 2009 55

0

25

50

75

100

125

150

175

1979 1981 1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009

1

Total includes value of related services and other income.

Billion dollars

Total

1

Marketing

Supply

102

Appendix Figure 5–Cooperative’s Net Business Volume, 1979-2009

0

1

2

3

4

5

6

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

1

Includes other cooperatives and CoBank.

Billion dollars

Investments

Refunds

Appendix Figure 6–Cooperatives’ Investments in Other Cooperatives and Patronage 

Refunds Received from Other Cooperatives1, 2000-2009
56 Cooperative Statistics, 2009

0 5 10 15 20 25 30 35

Supply

Grains and Oilseeds

Dairy

Fruits and Vegetables

Service

Sugar

Cotton

Rice

Livestock and Poultry

Percent of total

Percentage based on net income before taxes of $4.4 billion.

1 Includes dry bean and pea, nut, wool and mohair, tobacco, fishery, and other product marketing cooperatives.

Other Marketing1

Appendix Figure 7–Distribution Net Income Before Taxes, by Cooperative Type, 2009

0 10 20 30 40 50 60 70

Supply

Grain & Oilseed

Livestock & Poultry

Service

Cotton

Fruit & Vegetable

Dairy

Percent of total

Percentage based on before taxes losses of $216.1 million.

1 Less than 0.2 percent of total.

2 Includes dry bean and pea, nut, wool and mohair, tobacco, fishery, and other product marketing cooperatives.

Other Marketing2

Sugar1

Rice1

Appendix Figure 8–Distribution of Losses, by Cooperatives Type, 2009