COOPERATIVE 

STATISTICS

2013

Service Report 75

Rural Business-Cooperative Programs

United States

Department of

Agriculture

Rural Development
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Cooperative Statistics, 2013 i

ABSTRACT

A survey of 2,186 U.S. farmer, rancher, and fishery 

cooperatives ending their business year during calendar year 2013 showed a record business volume 

and net income before taxes. Gross business volume 

was $246 billion, while net business volume was 

$209 billion and net income before taxes totaled 

$6.2 billion. These cooperatives had almost $83 billion in assets, $48 billion of liabilities, and $35 billion in equity. Cooperatives were a major employer 

in rural areas, with 136,000 full-time workers and 

55,000 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, 2013

E. Eldon Eversull and Sarah Ali 

Rural Development

U.S. Department of Agriculture

STOP 3256

1400 Independence Ave., S.W.

Washington, DC 20250 3256

Service Report 75

November 2014
ii Cooperative Statistics, 2013

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 

business years ending in calendar year 2013. Cooperatives are classified by principal product marketed 

and major function. Both gross (includes inter-cooperative business) and net (excludes inter-cooperative 

business) dollar volumes are reported.

Statistics for 2013 were compiled on a State and 

national basis. The information was collected by a 

mail survey of all organizations identified by USDA 

Rural Development’s Cooperative Programs as 

farmer, rancher, or fishery cooperatives. Information 

was requested for the 2013 business year. 

USDA’s Cooperative Programs 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 90 percent of the total gross sales of farmer, rancher, and 

fishery cooperatives in 2013.

USDA depends on the response to its annual survey to develop a detailed and comprehensive set of 

statistics on cooperatives. The time and effort taken 

by cooperative staff members to provide information, and the timeliness with which it is furnished, 

are greatly appreciated by USDA.

.
Cooperative Statistics, 2013 iii

ABSTRACTi

PREFACE ii

HIGHLIGHTS iv

COOPERATIVE STATISTICS, 20131

I–DEFINITION OF A COOPERATIVE1

Classification of Cooperatives1

Organizational Membership Structures1

II–2013 STATISTICS3

Number of Cooperatives4

Memberships 12

Employees 12

Business Size 14

Business Volume 14

Balance Sheet 19

Income Statement 23

Selected Financial Ratios 29

BIBLIOGRAPHY 32

APPENDIX TABLES 33

APPENDIX FIGURES 60

CONTENTS
iv Cooperative Statistics, 2013

 2013 2012 Difference % Change

Number of cooperatives (number) 2,186 2,236 -50 -2.24

Memberships (millions) 2.0 2.1 -0.14 -6.53

Gross business volume (billion $) 246.1 237.8 8.34 3.51

Net business volume (billion $) 208.6 202.6 5.95 2.94

Net income before taxes (billion $) 6.2 6.1 0.05 0.76

Total assets (billion $) 82.6 83.4 -0.81 -0.97

Net worth (billion $) 34.6 30.2 4.48 14.87

Full-time employees (thousand) 136.2 129.4 6.74 5.21

 

HIGHLIGHTS

There are 2,186 U.S. farmer, rancher, and fishery 

cooperatives, according to the 2013 survey of marketing, supply, and service cooperatives conducted 

by USDA Rural Development’s Cooperative Programs. This was the highest ever business volume 

and net income, before taxes, for U.S. agriculture 

cooperatives, surpassing the previous records set in 

2012. U.S. crop production and livestock sales both 

increased 6 percent in 2013, and production input 

sales increased 2 percent. Many products had sales 

declines though, with cotton decreasing the most 

(-38 percent). Livestock, vegetables, and dairy all 

had at least a 3-percent gain in U.S. sales. Overall 

the farm economy saw U.S. sales decline for many 

crops and production inputs. 

 

• Total gross business volume (includes intercooperative business) handled by cooperatives was $246 billion; net business (excludes inter-cooperative business) was $209 

billion. Both are records, exceeding 2012 by 

$8 billion and $6 billion, respectively. 

• Net income before taxes (NIBT) was $6.2 

billion, which includes inter-cooperative 

dividends and refunds of $1.2 billion. This 

exceeds the 2012 record NIBT by $46 million, while dividends and refunds exceeded 

the prior record set in 2009 ($898 million) by 

$300 million.

• Cooperative memberships were 2 million, 

down 140,000 from 2012.

• Cooperatives employed 136,000 full-time 

and 55,000 part-time and seasonal employees. Full-time employee numbers were 

up 7,000 from 2012, while part-time and 

seasonal employee numbers were down by 

1,300.

• Gross value of products marketed by cooperatives was $145 billion, with a net value 

(after eliminating duplication from intercooperative business) of $136 billion. Both 

gross and net marketings were up about 2 

percent from 2012. Grain and oilseed marketings were up over $2.5 billion, while 

dairy product marketings increased about 

$1.4 billion.

• Gross value of supplies handled by cooperatives was $96 billion, with a net value of $67 

billion. Net supply sales were up almost 

$2.5 billion primarily due to strong energy 

and feed ingredient prices. Petroleum and 

feed both had increases of about $1 billion in 

net sales.

• Receipts for services related to marketing farm products and supplies, plus other 

income, totaled $5.6 billion, up about $860 

million from 2012.

• Cooperatives had about $83 billion in combined assets, down about 1 percent from the 

2012 record high of $83.4 billion. Net assets, 

after eliminating inter-cooperative investments, were $77 billion. Inter-cooperative 

investments included those in CoBank. 

• Total liabilities decreased $5.3 billion, to $48 

billion.

• Net worth, or member and patron equity, 

was $35 billion. Member and patron equity 

financed 42 percent of total assets, up from 

36 percent in 2012.

Table A: Comparison of 2013 and 2012 Cooperative Statistics
Cooperative Statistics, 2013 1

Cooperative Statistics, 2013

E. Eldon Eversull and Sarah Ali

I. DEFINITION OF A COOPERATIVE

USDA 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

Cooperative Programs 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 

transportation cooperatives are classified as service 

cooperatives.

Marketing cooperatives derive most of their total 

dollar volume from the sale of members’ products. 

Those cooperatives are further classified into 1 of 

13 commodities or commodity groups, depending 

upon which accounts for most of its business volume. Cooperative Programs 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 trucking, storing, or 

drying. 

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 business volume.

Prior year data has been revised in this report. 

Some revisions correct errors; others are due to new 

information. For instance, 82 cooperatives that had 

not responded in 2012 included with their 2013 surveys annual reports that also had 2012 information.

Organizational Membership Structures

Cooperative Programs further classifies marketing, 

supply, and service cooperatives into three organizational structures according to membership. The 

membership structures used are centralized, federated, and mixed.

Centralized Cooperatives

Of the 2,186 cooperatives in 2013, 2,130 were 

centralized organizations, mostly local cooperatives 

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. A few centralized cooperatives, principally 

regionals, operate over multistate areas and provide 
2 Cooperative Statistics, 2013

Percentages are based on 2.0 million total memberships. 1 Includes dry bean and pea, bioenergy, wool and mohair, rice, sugar, fishery, and other product marketing cooperatives.

Service 1.9%

Other marketing1 2.3%

Supply 65.0%

Grain & Oilseed 20.3%

Dairy 2.3%

Livestock & Poultry 3.7%

Cotton ginning 1.3%

Cotton 1.3%

Tobacco 0.7%

Fruit & Vegetable 1.1%

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Marketing

Supply

Service

Number

Figure 2: Distribution of Memberships, by Type of Cooperative, 2013

Figure 1: Cooperatives in the United States, 2004-2013
Cooperative Statistics, 2013 3

Major business 

 activity Cooperatives Memberships

Number Thousands

Bean and pea (dry edible) 5 1.8

Cotton 12 25.1

Cotton ginning 148 24.8

Dairy 127 46.3

Fish 39 5.5

Fruit and vegetable 145 20.8

Grain and oilseed1 490 400.3

Livestock 91 71.7

Nut 18 9.9

Poultry2 12 0.6

Rice 12 10.8

Sugar3 27 9.5

Tobacco 5 13.8

Wool and mohair 41 9.5

Other marketing4 23 5.1

Total marketing 1,195 655.3

 

Artificial insemination 12 52.4

Total supplies 871 1,284.3

 

Other services5 98 36.5

Rice dryers 4 0.2

Storage 6 0.1

Transportation 12 0.4

Total service 120 37.2

Total 2,186 1,976.7

 1

 Cooperatives primarily handling grain and oilseed, 

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, bioenergy, 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.

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. Like other dairy marketing cooperatives, these cooperatives represent their 

members at Federal or State milk marketing order 

hearings.

Federated Cooperatives

The 37 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 Cooperatives

The 19 mixed cooperatives have individual farmer, 

rancher, or fishery members and autonomous 

cooperative members. These cooperatives use 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. 2013 STATISTICS 

Cooperatives’ total gross business volume for 2013 

was $246 billion. Net business volume was $209 

billion, while net income before taxes (NIBT) was 

$6.2 billion. This was the highest business volume 

and net income before taxes ever recorded for U.S. 

agriculture cooperatives, exceeding records set in 

2012. 

Cooperative sales increases were driven by 

increased sales in the overall farm economy. U.S. 

crop production and livestock sales both increased 6 

percent in 2013 and production input (farm supply) 

sales increased 2 percent. Many products had sales 

Table 1: Number of cooperatives and memberships, by major business activity, 2013
4 Cooperative Statistics, 2013

 

Supply

Function Marketing & service Total

State Number

Alabama 9 39 48

Arkansas 11 21 32

California 75 37 112

Colorado 12 15 27

Florida 22 8 30

Georgia 7 7 14

Hawaii 7 6 13

Idaho 15 8 23

Illinois 72 37 109

Indiana 9 24 33

Iowa 64 29 93

Kansas 57 32 89

Kentucky 7 19 26

Louisiana 11 23 34

Maryland 5 9 14

Massachusetts 3 5 8

Michigan 22 21 43

Minnesota 94 100 194

Mississippi 18 33 51

Missouri 22 38 60

Montana 19 25 44

Nebraska 32 19 51

New York 42 13 55

North Carolina 8 4 12

North Dakota 69 77 146

Ohio 30 11 41

Oklahoma 33 20 53

Oregon 19 13 32

Pennsylvania 21 15 36

South Dakota 37 34 71

Tennessee 3 58 61

Texas 144 37 181

Utah 5 7 12

Virginia 15 38 53

Washington 37 23 60

West Virginia 5 9 14

Wisconsin 67 58 125

Wyoming 5 5 10

Other States1 62 14 76

 

United States 1,195 991 2,186

1

 Includes States with fewer than 3 cooperatives for any function. States with at least three cooperatives were: Alaska, 5; 

Connecticut, 6; Delaware, 3; Maine, 22; New Jersey, 11; New 

Mexico, 9; South Carolina, 3; and Vermont, 3.

declines though, with cotton decreasing the most 

(-38 percent). Livestock, vegetables, and dairy all 

had at least a 3-percent gain in U.S. sales. Overall, 

the farm economy saw U.S. sales decline for many 

crops and production inputs. 

Cooperative marketing sales were led by at least 

a 3-percent sales gain for grain and oilseed and 

dairy cooperatives, which was a $4 billion increase. 

Supply sales grew by 4 percent over 2012, with petroleum leading the gain with an increase of almost 

$2 billion, and feed grew by $1 billion. Crop protectants grew $500 million while fertilizer and seed 

both had declines in sales of less than 1 percent. 

In 2013, agricultural cooperatives had 2 million 

members, with $83 billion in assets and a record 

$35 billion in equity. Cooperatives remained a major employer in rural areas, using 136,000 full-time 

workers.

Number of Cooperatives

The 2013 survey counted 2,186 marketing, supply, 

and service1 cooperatives, compared with 2,236 in 

2012. Of the 2,186 cooperatives, 1,195 primarily 

marketed products, 871 primarily handled production supplies, and 120 provided services related to 

marketing or purchasing activities (table 1, appendix figure 1). Revisions have been made to the 2012 

data and prior years.

The proportion of marketing, supply, and service 

cooperatives to the total number of cooperatives 

remained virtually unchanged from 2012. About 55 

percent of cooperatives are marketing cooperatives, 

40 percent are supply cooperatives, and 5 percent 

are service cooperatives (figure 1 and appendix 

table 1).

There was a net decrease of 50 associations (2 

percent) from 2012 to 2013, largely reflecting a continuing trend involving merger, acquisition, or dissolution. The largest decrease was 45 farm supply 

cooperatives, while dairy cooperatives decreased by 

6. 

Table 2: Number of cooperatives, by major 

function and State, 2013

1

 Services include trucking, storage, crop drying, 

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.
Cooperative Statistics, 2013 5

FISH

Maine 15 0.6 73.04 73.04

Other States 24 4.8 111.49 111.49

United States 39 5.5 184.53 184.53 

FRUIT AND VEGETABLE 

Arizona 3 0.8 78.88 36.43

California 33 11.2 2,876.68 2,087.07

Florida 14 9.6 847.54 246.60

Hawaii 4 0.2 7.71 7.71

Michigan 10 1.5 869.86 759.55

Minnesota 4 0.2 0.64 0.64

New Jersey 4 0.4 197.33 122.14

New York 8 0.6 76.63 76.48

Oregon 10 0.9 643.75 625.65

Pennsylvania 3 0.3 435.56 435.56

Texas 3 0.0 90.21 77.75

Washington 9 2.5 853.68 839.51

Other States 40 3.6 933.67 441.80

Foreign7 0 0.1 244.41 133.44

United States 145 31.8 8,156.56 5,890.32

 

GRAIN AND OILSEED8 

Colorado 7 3.8 283.02 282.97

Illinois 66 48.8 6,119.34 6,119.09

Indiana 5 3.5 933.52 933.52

Iowa 55 61.4 11,360.48 11,190.91

Kansas 57 67.7 4,488.08 4,482.35

Minnesota 54 35.6 12,003.45 11,969.84

Mississippi 3 2.4 567.68 567.68

Missouri 14 11.9 1,988.93 1,471.93

Montana 4 0.8 1,079.54 1,079.54 

Nebraska 29 49.9 6,013.25 6,006.53

Table 3: Number1 of cooperatives, memberships,2 and gross and net sales by State, 20133

Headquartered Member- Business volume

State in State ships Gross4 Net5

Number Thousands $Millions

BEAN AND PEA, DRY EDIBLE 

United States 5 1.8 247.12 243.04

 

COTTON6 

Texas 4 12.7 875.52 875.52

Other States 8 12.4 1,744.64 1,740.70

United States 12 25.1 2,620.16 2,616.21

 

COTTON GINNING6 

Alabama 3 0.1 5.49 5.49

Arizona 4 0.1 25.91 25.91

Arkansas 3 1.8 36.87 18.21

California 12 0.5 76.91 34.65

Louisiana 3 0.2 18.24 10.62

Mississippi 9 0.3 11.09 9.12

Oklahoma 10 4.2 4.50 4.48

Texas 99 17.3 230.84 226.63

Other States 5 0.5 49.27 35.20

United States 148 25.0 459.13 370.31

 

DAIRY 

Idaho 3 0.1 472.17 472.17

Illinois 3 1.9 1,877.42 1,876.47

Iowa 3 2.4 1,741.64 1,690.58

Minnesota 22 6.3 3,827.42 3,760.75

New Mexico 4 0.1 850.11 436.56

New York 29 3.1 2,824.61 2,465.69

Pennsylvania 10 2.3 1,597.69 1,406.91

Wisconsin 22 14.9 5,744.05 5,473.53

Other States 31 18.9 23,793.90 22,601.22

United States 127 50.0 42,729.00 40,183.89

 

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 2013. 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

 Cottonseed sales of meal are included in feed sales, whereas 

oil sales are included in other marketing sales.

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.

Continued next page
6 Cooperative Statistics, 2013

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

GRAIN AND OILSEED (continued)

North Dakota 56 22.2 5,902.76 5,902.66

Ohio 24 24.3 2,869.38 2,869.33

Oklahoma 20 14.5 360.13 360.13

South Dakota 37 26.4 5,098.91 5,098.79

Texas 27 10.3 1,061.29 1,061.29

Washington 13 8.2 1,718.45 1,718.45

Other States 19 17.6 5,114.35 5,093.02

Foreign7 0 0.0 44.15 44.15

United States 490 409.3 67,006.70 66,252.16

 

LIVESTOCK 

North Dakota 5 0.6 23.57 23.57

West Virginia 4 0.2 2.14 2.14

Wisconsin 37 45.3 505.28 505.28

Other States 45 25.8 2,814.30 2,814.30

United States 91 71.9 3,345.30 3,345.30

 

NUT 

California 9 4.4 1,264.80 1,262.17

Other States 9 5.9 72.11 72.11

Foreign7 0 0.1 0.00 0.00

United States 18 10.4 1,336.90 1,334.28

 

POULTRY9 

California 4 0.1 202.86 202.86

Other States 8 0.5 524.06 524.06

United States 12 0.6 726.92 726.92

 

RICE 

California 3 0.8 292.38 292.38

Texas 4 0.5 66.04 66.04

Other States 5 9.4 1,373.96 1,373.96

United States 12 10.8 1,732.39 1,732.39

 

SUGAR10 

Idaho 5 0.5 839.06 6.83

Louisiana 4 1.4 863.25 863.25

Minnesota 3 2.5 4,069.96 2,338.43

Wyoming 3 0.6 21.06 21.06

Other States 12 5.1 2,908.83 2,796.95

SUGAR (continued)

Foreign7 0 0.1 3.67 3.67

United States 27 10.2 8,705.83 6,030.19

 

TOBACCO 

Tennessee 2 5.8 21.22 21.22

Other States 3 8.0 115.72 115.72

United States 5 13.8 136.94 136.94 

OTHER MARKETING11 

Minnesota 7 4.0 1,944.12 1,841.05

Other States 57 10.7 5,272.18 4,922.80

United States 64 14.7 7,216.29 6,763.86

 

TOTAL MARKETING 

Alabama 9 2.7 502.94 502.94

Alaska 5 3.0 12.64 12.64

Arizona 9 1.3 999.82 915.57

Arkansas 11 12.5 2,095.35 2,037.13

California 75 19.9 10,997.06 10,064.99

Colorado 12 5.7 802.86 802.81

Florida 22 10.2 1,708.32 1,096.57

Georgia 7 2.6 558.31 516.41

Hawaii 7 0.5 8.75 8.75

Idaho 15 3.8 1,589.59 757.35

Illinois 72 52.2 8,148.31 8,147.11

Indiana 9 6.4 1,977.33 1,945.93

Iowa 64 66.9 14,725.47 14,467.33

Kansas 57 69.6 5,587.02 5,549.70

Kentucky 7 12.9 573.43 559.63

Louisiana 11 5.0 1,888.18 1,873.44

Maine 20 1.5 154.50 153.94

Massachusetts 3 0.4 458.25 247.82

Michigan 22 8.9 3,342.28 3,153.50

Minnesota 94 49.7 22,824.27 20,888.58

Mississippi 18 6.5 1,176.22 1,170.25

Missouri 22 17.5 5,917.93 5,393.94

Montana 19 1.7 1,251.48 1,250.55

Nebraska 32 52.7 7,787.80 7,779.84

New Jersey 9 1.6 297.10 197.60

New Mexico 8 0.7 877.84 464.18

New York 42 4.1 3,214.43 2,855.36

North Carolina 8 2.0 668.44 631.42

North Dakota 69 25.9 7,275.17 7,262.46

Ohio 30 27.8 3,724.98 3,674.48

Oklahoma 33 22.8 823.18 788.76

Oregon 19 7.1 3,481.31 3,395.42

Pennsylvania 21 3.6 2,044.26 1,853.48

South Dakota 37 27.8 5,793.30 5,779.74

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, biofuels, coffee, wool and mohair, and other 

marketings not classified separately. Also includes manufactured food products and resale items marketed by cooperatives.

(continued)

Table 3: Number1 of cooperatives, memberships,2 and gross and net sales by State, 20133
Cooperative Statistics, 2013 7

TOTAL MARKETING (continued)

Tennessee 3 7.6 216.15 170.37

Texas 144 44.4 4,940.95 4,335.85

Utah 5 2.6 256.80 224.25

Vermont 3 1.1 623.35 623.35

Virginia 15 3.7 606.93 548.69

Washington 37 12.1 4,552.66 4,525.91

West Virginia 5 1.0 20.15 17.76

Wisconsin 67 65.9 8,308.69 7,618.16

Wyoming 5 0.9 99.87 99.87

Other States 13 3.7 1,225.85 1,125.51

Foreign7 0 0.4 464.28 320.99

United States 1,195 680.9 144,603.77 135,810.32

SUPPLIES PROVIDED 

 

CROP PROTECTANTS12 

Alabama 136.69 47.76

Arkansas 370.47 133.46

California 56.13 41.48

Colorado 42.29 29.52

Florida 66.61 23.21

Georgia 134.07 38.16

Idaho 53.93 12.79

Illinois 1,201.41 849.72

Indiana 385.64 259.57

Iowa 2,206.59 1,612.63

Kansas 374.65 271.78

Kentucky 94.76 77.50

Louisiana 166.09 61.36

Maryland 19.01 14.16

Massachusetts 1.09 0.26

Michigan 57.23 31.48

Minnesota 807.35 517.89

Mississippi 221.36 51.91

Missouri 267.78 198.74

Montana 360.57 164.28

Nebraska 767.52 507.85

New York 58.61 21.16

North Dakota 494.05 336.54

Ohio 276.41 180.78

Oklahoma 62.19 39.84

Oregon 476.61 285.82

Pennsylvania 143.28 82.31

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 PROTECTANTS (continued)

South Dakota 606.34 358.63

Tennessee 188.56 171.65

Texas 144.62 99.82

Utah 19.59 16.34

Virginia 39.56 32.96

Washington 624.91 407.01

West Virginia 2.20 1.90

Wisconsin 535.92 272.10

Wyoming 2.96 1.74

Other States 118.97 77.74

United States 11,586.03 7,331.87

 

FEED12 

Alabama 90.00 53.01

Arkansas 66.42 59.80

California 624.69 463.67

Colorado 141.14 119.29

Florida 150.32 118.99

Georgia 92.41 69.94

Idaho 735.59 524.63

Illinois 670.89 531.82

Indiana 312.08 260.00

Iowa 2,886.45 2,499.46

Kansas 366.97 296.90

Kentucky 120.65 100.07

Louisiana 126.67 95.88

Maryland 82.21 67.90

Massachusetts 8.50 7.32

Michigan 234.71 188.17

Minnesota 1,933.89 1,597.34

Mississippi 239.89 192.86

Missouri 464.23 359.87

Montana 104.11 23.23

Nebraska 562.58 426.71

New York 127.71 104.22

North Dakota 217.29 165.25

Ohio 427.36 377.47

Oklahoma 214.51 147.33

Oregon 292.10 172.05

Pennsylvania 188.76 144.87

South Dakota 523.85 342.61

Tennessee 336.43 314.60

Texas 758.81 575.48

Utah 169.17 161.00

Virginia 245.59 222.36

Washington 252.30 128.17 12 Headquartered in State and membership values are not collected for individual supply products; rather, they are collected 

for total supplies.

(continued)

Continued next page

Table 3: Number1 of cooperatives, memberships,2 and gross and net sales by State, 20133
8 Cooperative Statistics, 2013

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

FEED (continued)

West Virginia 373.45 267.43

Wisconsin 652.95 557.58

Wyoming 15.80 13.61

Other States 970.76 695.15

Foreign7 401.82 271.47

United States 16,183.07 12,717.49

 

FERTILIZER12 

Alabama 109.67 105.21

Arkansas 142.45 132.91

California 228.56 228.56

Colorado 98.19 88.35

Florida 78.05 46.95

Georgia 92.20 76.49

Idaho 1.11 1.11

Illinois 1,893.43 1,380.10

Indiana 710.58 659.96

Iowa 3,334.32 2,458.74

Kansas 660.78 654.50

Kentucky 264.77 223.74

Louisiana 35.65 29.74

Maryland 47.98 41.23

Massachusetts 18.05 7.97

Michigan 122.86 117.82

Minnesota 1,418.32 1,199.23

Mississippi 35.18 34.98

Missouri 771.26 589.74

Montana 493.22 282.85

Nebraska 1,385.74 1,161.24

New York 59.75 27.66

North Dakota 608.92 603.26

Ohio 711.26 609.45

Oklahoma 160.54 141.61

Oregon 630.03 419.67

Pennsylvania 116.58 62.40

South Dakota 875.76 661.72

Tennessee 362.26 358.16

Texas 134.60 133.13

Utah 42.83 42.80

Virginia 184.65 158.08

Washington 650.74 439.74

West Virginia 15.09 12.72

Wisconsin 880.52 611.41

Wyoming 10.38 10.38

Other States 268.19 201.49

Foreign7 2.00 0.90

United States 17,656.49 14,016.01

PETROLEUM12, 13 

Alabama 11.86 11.86

Arkansas 208.98 198.34

California 4.34 4.34

Colorado 1,054.58 556.77

Florida 6.61 4.09

Georgia 730.86 238.80

Idaho 863.95 412.87

Illinois 3,880.49 2,643.47

Indiana 2,755.66 1,339.56

Iowa 2,589.35 1,878.58

Kansas 2,287.87 1,501.21

Kentucky 252.57 148.48

Louisiana 15.96 15.46

Maryland 163.65 124.46

Massachusetts 0.06 0.06

Michigan 1,004.73 445.00

Minnesota 2,208.82 1,747.64

Mississippi 19.14 14.96

Missouri 2,615.31 1,873.45

Montana 1,226.65 882.66

Nebraska 2,141.23 1,466.25

New York 3.88 2.37

North Dakota 2,237.86 1,760.09

Ohio 723.39 524.69

Oklahoma 1,575.28 810.58

Oregon 975.81 614.94

Pennsylvania 14.97 11.13

South Dakota 1,356.38 837.11

Tennessee 971.18 496.29

Texas 361.42 321.44

Utah 685.73 214.34

Virginia 1,176.38 577.99

Washington 958.40 637.64

West Virginia 31.04 25.59

Wisconsin 1,832.59 1,300.80

Wyoming 803.71 467.62

Other States 94.34 80.86

Foreign7 678.69 205.29

United States 38,523.72 24,397.08

SEED12 

Alabama 46.10 32.11

Arkansas 66.15 43.64

California 27.29 15.38

Colorado 26.75 11.59

Florida 4.86 3.22

(continued)

13 Includes all types of petroleum products and lubricants as 

well as bioenergy fuels such as ethanol and biodiesel.

Table 3: Number1 of cooperatives, memberships,2 and gross and net sales by State, 20133
Cooperative Statistics, 2013 9

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

SEED (continued)

Georgia 25.95 17.56

Idaho 25.42 15.58

Illinois 763.46 455.54

Indiana 258.05 135.79

Iowa 779.41 416.27

Kansas 210.88 115.75

Kentucky 68.14 50.94

Louisiana 33.56 20.79

Maryland 13.79 10.48

Massachusetts 2.53 2.39

Michigan 35.31 17.71

Minnesota 666.21 377.61

Mississippi 47.88 25.71

Missouri 164.65 115.82

Montana 43.30 39.06

Nebraska 296.68 192.36

New York 15.58 2.93

North Dakota 351.73 197.13

Ohio 236.06 140.65

Oklahoma 17.71 14.11

Oregon 56.79 53.90

Pennsylvania 10.19 5.80

South Dakota 432.15 244.09

Tennessee 187.93 147.90

Texas 69.36 47.72

Utah 7.32 5.22

Virginia 48.04 41.58

Washington 92.26 87.77

West Virginia 6.40 5.15

Wisconsin 339.97 202.47

Wyoming 3.36 1.90

Other States 60.89 43.57

United States 5,542.11 3,357.18

 

OTHER SUPPLIES12, 14 

Alabama 58.89 52.18

Arkansas 100.30 67.87

California 258.35 242.35

Colorado 92.38 77.28

Florida 71.11 44.44

Georgia 79.85 37.85

Idaho 74.53 50.68

Illinois 313.31 209.17

Indiana 115.83 80.90

OTHER SUPPLIES (continued)

Iowa 453.81 367.67

Kansas 145.95 116.12

Kentucky 123.06 87.60

Louisiana 42.45 25.74

Maryland 31.93 27.33

Massachusetts 7.97 7.76

Michigan 118.98 95.73

Minnesota 470.32 411.51

Mississippi 66.93 49.94

Missouri 137.50 91.65

Montana 119.23 108.68

Nebraska 188.17 160.75

New York 151.95 140.37

North Dakota 551.37 514.47

Ohio 118.90 85.51

Oklahoma 71.65 54.74

Oregon 307.23 298.91

Pennsylvania 30.35 22.16

South Dakota 194.67 175.08

Tennessee 286.84 259.19

Texas 144.84 121.91

Utah 127.45 104.07

Virginia 226.44 196.80

Washington 286.52 233.39

West Virginia 30.52 26.86

Wisconsin 485.17 449.25

Wyoming 65.98 61.86

Other States 261.38 181.14

Foreign7 29.61 16.65

United States 6,441.72 5,355.54

 

SUPPLY 

Alabama 38 25.2 453.22 302.14

Arkansas 21 24.7 954.76 636.02

California 14 13.7 1,199.37 995.78

Colorado 13 14.8 1,455.32 882.79

Florida 6 9.4 377.56 240.90

Georgia 5 10.9 1,155.34 478.81

Idaho 6 8.2 1,754.52 1,017.66

Illinois 36 61.7 8,722.99 6,069.82

Indiana 22 35.7 4,537.83 2,735.79

Iowa 28 38.2 12,249.93 9,233.35

Kansas 31 26.0 4,047.10 2,956.26

Kentucky 19 156.5 923.95 688.34

Louisiana 18 5.3 420.39 248.96

Maryland 9 34.9 358.56 285.56

Massachusetts 3 3.0 38.21 25.76

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)

Continued next page

Table 3: Number1 of cooperatives, memberships,2 and gross and net sales by State, 20133
10 Cooperative Statistics, 2013

Table 3: Number1 of cooperatives, memberships,2 and gross and net sales by State, 20133

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)

Michigan 17 30.4 1,573.82 895.90

Minnesota 96 83.3 7,504.91 5,851.22

Mississippi 29 28.5 630.38 370.37

Missouri 38 79.3 4,420.74 3,229.27

Montana 24 18.4 2,347.07 1,500.75

Nebraska 19 17.0 5,341.94 3,915.17

New York 5 1.4 417.50 298.71

North Dakota 75 54.4 4,461.22 3,576.74

Ohio 9 11.9 2,493.38 1,918.55

Oklahoma 20 16.0 2,101.89 1,208.21

Oregon 11 24.4 2,738.57 1,845.28

Pennsylvania 6 4.4 504.13 328.67

South Dakota 34 39.4 3,989.15 2,619.24

Tennessee 58 64.3 2,333.19 1,747.78

Texas 29 28.3 1,613.64 1,299.49

Utah 6 8.6 1,052.09 543.78

Virginia 34 120.5 1,920.65 1,229.77

Washington 19 14.3 2,865.15 1,933.72

West Virginia 9 60.6 458.70 339.65

Wisconsin 49 67.2 4,727.12 3,393.60

Wyoming 4 3.4 902.20 557.11

Other States 11 34.6 1,774.54 1,279.95

Foreign7 0 0.0 1,112.12 494.30

United States 871 1,278.7 95,933.14 67,175.16

 

SERVICE AND ALL OTHER INCOME15 

California 23 0.8 369.83 369.83

Minnesota 4 0.0 940.06 940.06

Mississippi 4 14.1 51.55 51.55

North Carolina 3 0.1 5.66 5.66

Pennsylvania 9 0.2 6.06 6.06

Texas 8 0.2 308.93 308.93

Wisconsin 9 0.2 219.40 219.40

Other States 60 1.6 3,670.47 3,670.47 

United States 120 17.1 5,571.97 5,571.97

TOTAL 

Alabama 48 27.9 976.85 825.78

Alaska 5 3.0 319.96 217.41

Arizona 9 1.8 1,143.65 1,022.27

Arkansas 32 37.2 3,198.44 2,821.48

California 112 34.4 12,566.25 11,430.59

TOTAL (continued)

Colorado 27 20.5 2,320.06 1,747.48

Connecticut 6 0.4 565.37 558.22

Delaware 3 8.4 190.13 145.27

Florida 30 19.6 2,209.13 1,460.73

Georgia 14 13.4 1,718.20 999.78

Hawaii 13 0.6 27.46 23.12

Idaho 23 12.1 3,396.48 1,827.38

Illinois 109 113.9 17,288.09 14,633.73

Indiana 33 42.1 6,689.70 4,856.26

Iowa 93 105.1 27,638.30 24,363.59

Kansas 89 95.6 9,935.74 8,807.58

Kentucky 26 169.4 1,508.75 1,259.35

Louisiana 34 10.6 2,294.78 2,108.61

Maine 22 5.4 225.46 220.22

Maryland 14 36.1 835.22 677.64

Massachusetts 8 3.9 512.87 290.00

Michigan 43 39.4 4,976.30 4,109.60

Minnesota 194 133.1 31,269.25 27,679.86

Mississippi 51 49.0 1,858.15 1,592.17

Missouri 60 96.8 10,589.82 8,874.36

Montana 44 20.1 3,628.50 2,781.25

Nebraska 51 69.7 13,492.86 12,058.13

New Jersey 11 1.7 392.64 255.53

New Mexico 9 0.9 954.04 521.26

New York 55 5.7 3,672.25 3,194.39

North Carolina 12 22.1 1,035.63 902.59

North Dakota 146 80.3 11,960.96 11,063.78

Ohio 41 39.8 6,388.95 5,763.62

Oklahoma 53 38.8 2,993.74 2,065.64

Oregon 32 31.7 6,252.64 5,273.46

Pennsylvania 36 8.1 2,554.44 2,188.20

South Carolina 3 2.8 250.25 210.69

South Dakota 71 67.3 9,948.35 8,564.88

Tennessee 61 71.8 2,618.80 1,987.61

Texas 181 72.9 6,863.53 5,944.27

Utah 12 11.2 1,329.04 788.18

Vermont 3 1.1 689.86 677.35

Virginia 53 124.3 2,589.08 1,839.96

Washington 60 26.5 7,508.33 6,550.14

West Virginia 14 61.6 479.39 357.93

Wisconsin 125 133.3 13,255.21 11,231.16

Wyoming 10 4.3 1,011.59 666.49

Other States 5 0.7 407.99 303.17

Foreign7 0 0.4 1,576.40 815.29

United States 2,186 1,976.7 246,108.89 208,557.46 15 Includes cooperatives providing services such as livestock 

shipping, storing, grinding, and drying. 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, 2013 11

Cooperatives are added to the list every year, usually based on press releases from the cooperative or 

news items, but this probably leads to under-counting. Some cooperatives had been dropped from the 

list earlier but were added back when USDA was 

informed that they were still in operation. Most 

drops occur when two or more cooperatives merge 

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 based on function (marketing, supply, or service) and State are shown in table 

2. Texas had the most marketing cooperatives with 

144, while Minnesota was second with 94. Minnesota had the most supply and service cooperatives 

with 100, followed by North Dakota with 77.

Many cooperatives operate branches to better 

serve their members. Most branches are owned by 

the cooperative, but some 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 that 

serve members and patrons at outlying locations. 

 

Commodity 2013 2012 2011 2010 2009 

 Thousands

Bean & pea (dry edible) 0.2 0.2 0.2 0.2 0.2

Cotton 4.4 2.3 2.2 1.8 1.4

Cotton ginning 1.1 1.1 1.1 1.1 1.1

Dairy 21.0 21.0 20.7 18.9 24.9

Fish 0.7 0.7 0.7 0.7 0.7

Fruit and vegetable 14.2 13.2 13.5 13.3 13.6

Grain and oilseed 23.5 21.6 24.9 22.4 20.4

Livestock 0.5 0.6 0.6 0.6 0.7

Nut 1.3 1.1 1.1 0.3 0.3

Poultry 1.7 1.7 2.0 2.0 1.7

Rice 2.5 2.3 2.5 2.4 2.5

Sugar 6.9 5.9 5.7 5.5 5.7

Other marketing 0.5 0.6 0.7 0.7 1.9

Total marketing 78.4 72.3 75.7 70.1 75.2

 

Total supplies 56.6 56.0 53.8 57.6 46.1

 

Total services 1.2 1.2 1.3 1.3 1.3

 

Total 136.2 129.4 130.8 129.0 122.5

Table 4: Cooperatives’ number of full-time 

employees, 2013-2009 

0

0.5

1

1.5

2

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Million

Service

Supply

Marketing

Figure 3: Cooperative Memberships by Function, 2004-2013
12 Cooperative Statistics, 2013

Grain and oilseed and supply cooperatives operated over 5,000 branches—2,267 and 2,797 respectively. Grain and oilseed cooperatives averaged 

almost 5 branches per cooperative while supply 

cooperatives averaged about 3. 

Memberships

Memberships in marketing, supply, and service 

cooperatives were an estimated 2 million in 2013, 

down 140,000 from 2012 (table 3). There were 

membership increases in 2011, but generally memberships have been declining, as has the number of 

U.S. farms. About 65 percent of the memberships 

were in supply cooperatives, while 20 percent of 

the memberships were in grain and oilseed cooperatives (appendix table 2, figure 2). Dairy cooperative memberships were only 2 percent of the total, 

but dairy cooperatives accounted for 19 percent, or 

$40 billion, of cooperatives’ net business volume in 

2013.

Memberships in cooperatives dropped from 2.6 million in 2004 to 2.0 million 

in 2013 (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 

long exceeded the number 

of farms, but now they are 

slightly less. 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. 

Therefore, a member’s business with a cooperative 

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, will be included arbitrarily in that 

classification.

During the past decade, membership in marketing and supply cooperatives both declined about 

330,000. Service cooperatives increased memberships by about 15,000 during the same time period.

Employees

Cooperatives had an estimated 136,000 full-time 

employees in 2013, an increase of about 7,000 from 

2012 (table 4). With sales increasing over the last 3 

years, it appears that some cooperatives have added 

employees. Cotton and grain and oilseed coopera-

 

Principal product(s) Total Part-time & 

marketed employees Full-time seasonal

or major function 2013 2012 2013 2012 2013 2012

 

Products marketed Thousands 

Bean & pea (dry edible) 0.2 0.2 0.2 0.2 0.0 0.0

Cotton 4.6 2.5 4.4 2.3 0.2 0.2

Cotton ginning 3.5 3.6 1.1 1.1 2.4 2.5

Dairy 22.0 22.0 21.0 21.0 1.1 1.0

Fish 0.9 0.9 0.7 0.7 0.2 0.2

Fruit and vegetable 30.5 29.3 14.2 13.2 16.3 16.1

Grain and oilseed 33.2 32.3 23.5 21.6 9.7 10.7

Livestock and poultry 3.3 3.7 2.3 2.3 1.1 1.4

Rice 2.7 2.6 2.5 2.3 0.2 0.3

Sugar 11.8 11.1 6.9 5.9 4.9 5.2

Other marketing2 2.7 2.8 1.8 1.7 0.9 1.1

 

Total marketing 115.5 111.1 78.4 72.3 37.1 38.8

 

Total supplies 73.6 72.6 56.6 56.0 17.0 16.6

 

Total services 2.0 2.0 1.2 1.2 0.8 0.8

 

Total 191.1 185.6 136.2 129.4 54.9 56.2

1 Totals may not add due to rounding.

2 Includes nut, bioenergy, tobacco, wool, and other product marketing cooperatives.

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

cooperatives, by cooperative type, 2013-20121
Cooperative Statistics, 2013 13

tives both added about 2,000 full-time employees, 

and sugar and fruit and vegetable cooperatives both 

added about 1,000. 

In 2013, cooperatives employed an estimated 

191,000 full-time and part-time and seasonal employees (table 5), about 5,000 more employees than 

in 2012. Among marketing cooperatives, grain and 

oilseed had the most employees (33,200), followed 

by those co-ops that primarily handle fruits and 

vegetables (30,500) and dairy (22,000). 

By type, marketing cooperatives had 115,500 

full-time and part-time and seasonal employees (60 

percent of total); supply cooperatives had 73,600 

(39 percent); and service cooperatives had 2,000 (1 

percent). 

Figure 4 shows the number of full-time and parttime and seasonal employees by type of cooperative for 2013. Supply, grain and oilseed, fruit and 

vegetable, and dairy cooperatives used the most 

employees; fish cooperatives had the fewest. Dairy, 

rice, cotton, and dry bean and pea 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 about 42 percent of sugar cooperatives employees were part-time and seasonal. 

Cooperatives used 55,000 part-time and seasonal 

employees in 2013, down around 1,400, or 2 percent, from 2012. Grain and oilseed cooperatives 

decreased their use of part-time and seasonal employees in 2013 by more than 1,000. 

In 2013, marketing cooperatives reported having 37,000 part-time and seasonal employees, or 68 

percent of the total across all categories. Marketing 

cooperatives averaged 31 part-time and seasonal 

employees per operation. Fruit and vegetable cooperatives, with 16,300, accounted for about 30 percent of all part-time and seasonal employees used 

by cooperatives. Supply cooperatives had 17,000 

part-time and seasonal employees, an average of 20 

per cooperative.

0 10 20 30 40 50 60 70 80

Supply

Grain and oilseed

Fruit and vegetable

Dairy

Sugar

Cotton

Cotton ginning

Livestock and poultry

Rice

Service

Fish

1,000 Employees

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

-time and seasonal

Other marketing1

Full-time

Part

Figure 4: Full-Time and Part-Time and Seasonal Employees, by Cooperative Type, 2013
14 Cooperative Statistics, 2013

 

Cooperatives Dollar volume Memberships2 

Sales volume Percent Gross3 Percent Number Percent

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

 

 

Less than 5.0 726 33.2 1.18 0.5 172 8.7

 5 - 9.9 264 12.1 1.92 0.8 137 6.9

 10 - 14.9 162 7.4 1.99 0.8 87 4.4

 15 - 24.9 201 9.2 4.00 1.6 150 7.6

 25 - 49.9 259 11.8 9.06 3.7 217 11.0

 50 - 99.9 193 8.8 13.51 5.5 177 9.0

 100 - 199.9 134 6.1 18.74 7.6 169 8.6

 200 - 499.9 135 6.2 31.48 12.8 329 16.6

 500 - 999.9 79 3.6 30.97 12.6 146 7.4

1,000 and more 33 1.5 133.26 54.1 392 19.8

Total4 2,186 100.0 246.11 100.0 1,977 100.0

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, 

20131

In 2013, 53 percent 

of all cooperatives 

reported a business 

volume of less than 

$15 million. However, they accounted 

for around 2 percent 

of the total gross dollar volume (figure 6). 

About 11 percent of 

cooperatives reported 

a business volume of 

at least $200 million, 

but they accounted 

for almost 80 percent 

of the total sales.

Business Volume

Total gross business 

volume of the 2,186 

marketing, supply, 

and service cooperatives for 2013 was 

$246 billion (table 7), 

up about $8 billion from $238 billion in 2012. Historically, gross business volume fell from a record 

$128 billion in 1996 to $112 billion in 2002. However, this has not been a steady decline. Some years 

saw increases to $120 billion, while other years fell 

to $115 billion or less (appendix table 3, appendix 

figure 4). The historical high in 1996 was almost 

matched in 2006, then was eclipsed in 2007 through 

2013. 

Grain and oilseed cooperatives had a gain of 

more than $2.5 billion while dairy cooperatives had 

an increase of almost $1.4 billion. Continued strong 

grain prices, higher dairy prices and strong energy 

prices were the main causes of grain, dairy, and supply sales increases. Petroleum products led the supply sales gain, with an increase of $1.7 billion. Feed 

sales increased by $1 billion, and crop protectants 

by almost $500 million. 

Total net business volume of cooperatives in 

2013 was up almost $3 billion from 2012 (net sales 

equal gross sales minus sales between cooperatives). The net volume for 2013 was $209 billion, 

compared to $203 billion in 2012. The net sales 

Most types of marketing cooperatives operated 

with more employees than did supply cooperatives. 

For example, sugar cooperatives averaged 437 employees; cotton, 385; rice, 225; and supply cooperatives, 86 (figure 5).

Business Size

As measured by annual gross business volume, 

most cooperatives are relatively small and serve 

local 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 2004 

to 2013, there were 859 fewer cooperatives with 

less than $25 million in sales, while there were 181 

cooperatives that moved up into the sales group of 

more than $25 million in sales. The sales group of 

$200 million to $499.9 million had the most growth, 

increasing from 44 cooperatives in 2004 to 135 in 

2013 (table 6).
Cooperative Statistics, 2013 15

breakdown was $136 billion from products marketed, $67 billion from supply sales, and $6 billion 

from services performed and other income sources. 

The $209 billion was the highest total ever (appendix table 4, appendix figure 5). There have been 

a number of fluctuations in net business volume 

during the past two decades. Net volume dropped 

to around $100 billion in 1999 and stayed there 

until the current upward trend started in 2003, then 

soared, due to increased grain and oilseed prices 

and energy costs, from 2007 through 2013. Adjusted 

for inflation2 (where 2011 = 100), net business volume was $111 billion in 2005 and increased to $172 

billion in 2008, before falling to around $136 billion 

in both 2009 and 2010. It then increased to $187 

billion in 2011 and $209 billion in 2013 (figure 7). 

There was no difference between actual and real 

net business volume in 2013 because the prices paid 

for production inputs index was 110 and was almost 

equal to the prices received for farm products index 

of 109. 

Net volume of products marketed increased 2 

percent from 2012. Net marketing business volume 

accounted for 65 percent of net cooperative sales in 

2013, the same as 2012.

Figure 8 illustrates the leading products marketed 

by cooperatives based on net marketing business 

volume. Grain and oilseed led with 49 percent of 

sales, followed by dairy with 30 percent, and sugar 

and fruit and vegetable, both with 4 percent. 

Net supply volume of $67 billion was almost 

$2.5 billion higher than 2012 and 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 at 36 percent, fertilizer at 21 percent, and feed 

at 19 percent (Figure 9). Petroleum sales increased 

by more than $1 billion, while feed sales grew by 

almost $900 million. 

Receipts for services provided by marketing, 

supply, and service cooperatives, plus other income, 

increased by almost $900 million, to $5.6 billion. 

 

Commodity Gross volume Net volume

2013 2012 2013 2012

Products marketed Billion $ 

Bean & pea 

 (dry edible) .247 .176 .243 .172

Cotton 3.079 3.176 2.987 3.089

Dairy 42.729 41.378 40.184 39.739

Fish .185 .189 .185 .189

Fruit & vegetable 8.157 8.014 5.890 5.751

Grain & oilseed2 67.007 64.454 66.252 63.710

Livestock 3.345 4.020 3.345 4.020

Nut 1.337 1.105 1.334 1.103

Poultry3 .727 1.454 .727 1.454

Rice 1.732 1.553 1.732 1.553

Sugar 8.706 8.533 6.030 5.996

Tobacco .137 .120 .137 .120

Wool and mohair .005 .005 .005 .005

Other marketing4 7.211 6.681 6.759 6.273

Total marketing 144.604 140.859 135.810 133.175

 

Supplies purchased: 

Crop protectants 11.586 11.124 7.332 7.194

Feed 16.183 15.109 12.717 11.841

Fertilizer 17.656 17.758 14.016 14.186

Petroleum 38.524 36.804 24.397 23.357

Seed 5.542 5.595 3.357 3.266

Other supplies5 6.442 5.810 5.356 4.869

Total supplies 95.933 92.199 67.175 64.712

 

Services and all 

 other income6 5.572 4.715 5.572 4.715

 

Total business 246.109 237.773 208.557 202.603

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 cotton ginning, 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 artificial insemination, 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, 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.

2 Marketing sales were deflated by the index of producer prices received for “all farm products” (2011 

= 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 (2011 = 100).

Table 7: Cooperatives’ gross and net business volumes by commodity, 2013 & 20121
16 Cooperative Statistics, 2013

0 50 100 150 200 250 300 350 400 450

Sugar

Cotton

Rice

Fruit and vegetable

Dairy

Poultry

Nut

Supplies

Grain and oilseed

Cotton ginning

Fish

Service

Number

-

-

Full time

Part time and seasonal

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

Dollar volume

Figure 5: Average Full-Time and Part-Time and Seasonal Employees, 2013

Figure 6: Distribution of Cooperatives and Volume, by Size, 2013
Cooperative Statistics, 2013 17

0

20

40

60

80

100

120

140

160

180

200

220

2005 2006 2007 2008 2009 2010 2011 2012 2013

1

Actual sales were adjusted for price change based on 2011 = 100.

Billion dollars

Actual

Real

1

Fruit & vegetable 5.8%

Tobacco 0.1%

Nut 1.0%

Sugar 4.4%

Cotton 2.2%

Poultry 0.5%

Grain and oilseed 48.8%

Rice 1.3%

Livestock 2.5%

Dairy 29.6%

Fish 0.1%

Percentages are based on a total net marketing business volume of $136 billion. 1 Includes wool and mohair, dry beans and peas, bioenergy, and other product marketing.

Other marketing 5.2% 1

Figure 7: Cooperatives’ Net Business Volume, Actual and Adjusted, 2005-2013

Figure 8: Relative Importance of Products Marketed by Cooperatives, 2013
18 Cooperative Statistics, 2013

Fertilizer 20.9%

Seed 5.0%

Petroleum 36.3%

Crop protectants 10.9%

Feed 18.9%

Percentages are based on a total net supply business volume of $67 billion. 1

Includes building materials, tires, batteries and accessories, equipment, animal health products, pet food, semen, hardware, food, clothing

and other.

Other supplies 8.0% 1

0

10

20

30

40

50

60

70

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Grain & oilseed

Sugar

Billion dollars

Milk & milk

products

Fruit & vegetable

Figure 9: Relative Importance of Supplies Handled by Cooperatives, 2013

Figure 10: Cooperatives’ Net Sales of Selected Commodities, 2004-2013
Cooperative Statistics, 2013 19

Service receipts and other income represented almost 3 percent of total net business volume.

Marketing sales of four major commodity 

groups—grain and oilseed, dairy, fruit and vegetable, and sugar—were up from 81 percent of marketing sales in 2004 to 87 percent in 2013 (figure 10). 

Grain and oilseed sales increased by $43 billion, 

mainly due to price increases. Dairy sales increased 

by $12 billion, while sugar sales grew by over $2 

billion. Net volume among commodity groups was 

highest in 2013 for grain and oilseed at $66 billion (compared to $23 billion in 2004), followed by 

dairy with $40 billion. 

Feed and fertilizer are important farm inputs for 

supply cooperatives (figure 11), but petroleum was 

especially important in 2013, accounting for $10 

billion more in sales than either feed or fertilizer. 

The combination of petroleum, feed, and fertilizer 

sales accounted for 76 percent of cooperatives’ total 

supply sales in 2013 and 71 

percent in 2004. 

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. Minnesota led all States with more 

than $31 billion in gross business volume and almost $28 

billion in net business volume. 

Iowa was second with almost 

$28 billion in gross business 

volume and more than $24 billion in net cooperative business 

volume.

Balance Sheet

The balance sheet of a cooperative states its financial position 

at the end of a 12-month fiscal 

year. The balance sheet represents the cooperative’s assets, 

liabilities, member equity, and 

their mutual relationships. 

Combined assets for all cooperatives in 2013 were just short 

of the record $83 billion in 2012— only about $800 

million lower in 2013, at almost $83 billion (table 

8). Total assets of cooperatives, excluding intercooperative investments, decreased by $1.3 billion 

from 2012, to $78 billion in 2013. Cooperatives’ 

total assets grew from $46 billion in 2004 to $83 

billion in 2013 (appendix table 5 and figure 12). 

In 2004, 10 percent, or $4.7 billion, of total assets was invested in other cooperatives, including 

CoBank. In 2013, these investments were $5.2 billion, up $500 million from 2004. This represented 

6.3 percent of total assets, 4 points lower than a 

decade ago. 

Of the $83 billion in total assets, marketing 

cooperatives accounted for $43 billion, about 

$700 million more than in 2012. Grain and oilseed 

cooperatives had about $19 billion in assets, more 

than double the assets of dairy cooperatives ($8.9 

billion) and almost four times the assets of fruit 

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 .961 .010 .971 1.1

Cotton ginning 148 .428 .071 .499 14.3

Dairy 127 8.741 .169 8.911 1.9

Fish 39 .082 .000 .082 0.0

Fruit & vegetable 145 4.959 .100 5.060 2.0

Grain & oilseed 490 17.635 1.660 19.295 8.6

Livestock & poultry 103 .736 .015 .751 2.0

Rice 12 .969 .015 .984 1.5

Sugar 27 4.059 .036 4.094 0.9

Other marketing4 92 1.624 .024 1.648 1.4

Total marketing 1,195 40.194 2.101 42.295 5.0

 

Total supplies 871 36.750 3.102 39.852 7.8

 

Total services 120 .377 .034 .411 8.3

 

Total 2,186 77.322 5.236 82.558 6.3

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 bean and pea, nuts, tobacco, wool, and other marketing.

Table 8: Combined assets of cooperatives, 20131
20 Cooperative Statistics, 2013

and vegetable cooperatives ($5.1 billion). All three 

of these types of marketing cooperatives have less 

combined assets than supply cooperatives ($40 billion). 

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 percentage of total assets, 

allowing comparison between different sizes and 

types of cooperatives.

Current Assets

Current assets are generally comprised of cash and 

cash equivalents, accounts and notes (with shortterm maturities) receivable, inventories, and prepaid 

expenses. Current assets were about 62 percent for 

all sizes of cooperatives, down from 63 percent in 

2012. Smaller cooperatives—especially service, 

most sugar, bioenergy, 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. “Other assets” is a catch-all category 

in this study and contains a wide variety of items. 

Investments ranged from 9 percent of all assets for 

small cooperatives up to 13 percent for cooperatives with sales of $5 million to $15 million. The 

largest cooperatives accounted for 4 percent of 

investments. Investments were larger for supply 

cooperatives than most marketing cooperatives. 

All but the largest (intra-state) supply cooperatives generally purchase their inputs from (interstate) regional supply cooperatives, hence the large 

investments in other cooperatives. Large dairy, 

smaller fresh fruit and vegetable, service (except 

fresh fruit and vegetable service), cotton, fish, poultry, nut, tobacco, rice, sugar, and most livestock 

cooperatives all had low investments levels—often 

less than 4 percent of all assets. 

Property, Plant, and Equipment

Net property, plant, and equipment (net PP&E) are 

tangible assets used by a cooperative’s operations. 

PP&E averaged between 24 and 31 percent of total 

assets for all sizes of cooperatives. Biofuels, medi0

5

10

15

20

25

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Fertilizer

Seed

Billion dollars

Petroleum

Crop

protectants

Feed

Figure 11: Cooperatives’ Net Sales of Selected Supplies, 2004-2013
Cooperative Statistics, 2013 21

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 60.61 61.76 58.61 60.14 55.94 52.26

Other assets 8.70 10.03 8.41 3.16 7.14 7.43

Investments 6.24 3.73 8.78 12.26 13.11 9.26

PP&E1 (net) 24.44 24.48 24.20 24.44 23.81 31.05

Total assets 100.00 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 41.95 42.22 42.15 42.22 36.01 30.41

Total liabilities 58.15 61.37 55.52 50.88 45.09 43.13

Allocated equity 26.08 26.57 21.67 28.42 36.87 41.62

Retained earnings 15.78 12.05 22.81 20.74 18.04 15.25

Total equity 41.86 38.63 44.48 49.16 54.91 56.87

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 91.49 92.09 90.96 89.60 86.03 85.21

Gross margin 8.51 7.91 9.04 10.40 13.97 14.79

 

Service and other income 1.47 0.88 1.87 3.29 6.51 15.69

Gross revenue 9.98 8.79 10.91 13.70 20.48 30.48

Expenses 

Wages 3.76 3.17 4.38 5.51 8.02 12.22

Depreciation 0.92 0.79 1.10 1.26 1.68 2.36

Interest 0.40 0.40 0.39 0.38 0.57 0.69

Other 3.16 2.66 3.53 4.78 7.50 13.29

Total expenses 8.24 7.02 9.40 11.93 17.78 28.57

 

Net operating margins 1.74 1.77 1.51 1.77 2.70 1.91

Patronage income 0.50 0.19 1.01 1.37 1.72 1.63

Non-operating income 0.32 0.27 0.42 0.43 0.42 0.11

Net income before taxes 2.56 2.23 2.94 3.57 4.84 4.31

Taxes 0.25 0.21 0.37 0.32 0.25 0.11

Net income 2.31 2.02 2.57 3.25 4.59 4.21

Ratios Percent or number 

Current 1.45 1.46 1.39 1.42 1.55 1.72

Debt-to-asset 0.58 0.61 0.56 0.51 0.45 0.43

Debt-to-equity 1.39 1.59 1.25 1.03 0.82 0.76

Retained-earnings-to-equity 37.69 31.21 51.27 42.18 32.86 26.81

Equity-to-assets 41.86 38.63 44.48 49.16 54.91 56.87

Adjusted-equity-to-assets 72.10 66.85 76.89 85.08 85.82 81.72

Return-on-assets 8.61 8.51 8.51 9.20 9.58 7.10

Return-on-member-equity 25.76 24.64 30.29 26.64 22.01 14.34

 

Extra value index +2 9.51 9.42 9.15 10.67 10.23 6.24

Extra value index +5 7.34 7.41 6.84 8.12 7.65 3.79

Extra value index +10 3.74 4.07 3.00 3.87 3.36 -0.30

1

 Property, plant, and equipment

Table 9: Common size analysis by cooperative size, 2013
22 Cooperative Statistics, 2013

Principal product(s) 

marketed and Total Total Net 

major function Co-ops assets liabilities worth 

 

Products 

marketed No. Billion dollars

Cotton 12 .97 .55 .42

Cotton ginning 148 .50 .21 .29

Dairy 127 8.91 6.01 2.90

Fish 39 .08 .05 .03

Fruit & vegetable 145 5.06 2.63 2.43

Grain & oilseed 490 19.30 11.60 7.69

Livestock & poultry 103 .75 .49 .26

Rice 12 .98 .40 .58

Sugar 27 4.09 2.12 1.97

Other marketing2 92 1.65 .74 .90

Total marketing 1,195 42.30 24.80 17.49

 

Total supplies 871 39.85 22.97 16.88

 

Total services 120 .41 .15 .26

 

Total 2,186 82.56 47.92 34.64

 

1

 Totals may not add due to rounding.

2

 Includes dry edible bean and pea, nut, bioenergy, tobacco, 

wool, cottonseed, and other marketing.

 

Principal product(s) Patronmarketed and Income Net age

major before operating infunction Co-ops taxes margins come2

Products No. Million dollars

marketed

Cotton 12 -83.3 -84.8 1.4

Cotton ginning 148 68.0 42.2 25.8

Dairy 127 312.7 277.3 35.4

Fish 39 9.7 9.7 .0

Fruit & vegetable 145 600.0 593.0 6.9

Grain & oilseed 490 1,188.7 787.2 401.5

Livestock & poultry 103 17.2 13.8 3.4

Rice 12 111.2 110.2 1.1

Sugar 27 239.3 237.6 1.7

Other marketing3 92 116.3 113.7 2.6

Total marketing 1,195 2,579.8 2,100.0 479.8

 

Total supplies 871 3,529.1 2,785.6 743.6

 

Total services 120 43.2 42.2 1.0

 

Total 2,186 6,152.1 4,927.7 1,224.4

 

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 bean and pea, nut, bioenergy, tobacco, 

wool, cottonseed, and other marketing. um and large sugar, smaller cotton ginning, smaller 

fresh fruit and vegetable, small nut, small fish, and 

service (except dairy, cotton, and fresh fruit and 

vegetable) 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 are usually 

paid within 1 year. Current liabilities are comprised 

of notes payable to banks and/or other trade creditors, accounts payable, current maturities of longterm 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 longterm 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 9 percent of their assets financed 

through long-term debt. Generally, the largest cooperatives used the most debt, financing 21 percent 

of their assets through borrowing. Nut, large dairy, 

large fruit and vegetable, small fish, storage, hulling, and farmer market cooperatives all financed 

about 20 percent or more of their assets with longterm debt. 

Total liabilities were $48 billion, down $5 billion 

from 2012 (table 10). Cooperatives’ total liabilities 

grew fairly steadily from $26 billion in 2004 to $53 

billion in 2012. Total liabilities financed 58 percent 

Table 10: Combined balance sheet data of 

cooperatives, 20131

Table 11: Cooperatives’ net income before 

taxes, 20131
Cooperative Statistics, 2013 23

of total assets in 2013, about 6 points lower than in 

2012. 

Allocated (or Member) Equities

Allocated (or member) equities represent member 

ownership of each cooperative. Comparing allocated equities to total assets determines the percent 

of the cooperative’s assets owned by members. Allocated equity comprised just 26 percent of ownership of all sizes of cooperatives, up 3 points from 

2012. The very largest cooperatives had the smallest 

percentages of both retained earnings and overall 

equity. 

Net worth, or member and patron equity, was $35 

billion, up over $4 billion from 2012. The proportion of total assets financed by member and patron 

equity was 42 percent, up 6 percentage points from 

2012. Net worth for all marketing cooperatives was 

$17 billion, up over $2 billion from 2012. Marketing cooperatives accounted for 51 percent of cooperatives’ combined net worth, up almost 2 points 

from 2012. Net worth for supply cooperatives 

also totaled $17 billion, representing 49 percent of 

the total. For marketing cooperatives, the highest 

percentage of total assets represented by net worth 

(figure 13) was 64 percent, by service cooperatives. 

Dairy cooperatives ranked lowest at 33 percent. 

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, based on six 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. 

0

10

20

30

40

50

60

70

80

90

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Liabilities

Net worth

Assets

Billion Dollars

Figure 12: Cooperatives’ Assets, Liabilities, and Net Worth, 2004-2013
24 Cooperative Statistics, 2013

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 

91 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, smaller 

cotton ginning, larger fish, smaller nut, larger rice, 

and larger sugar cooperatives have a lower COGS. 

Grain and oilseed, livestock marketing, large poultry, small rice, small sugar, 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.

Gross Margins

The excess of net sales over the cost of goods sold 

is the gross margin or gross margin percentage. A 

small change in the gross margin can substantially 

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 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 1 point higher 

for the very largest cooperatives than for the other 

sizes. As discussed earlier, those cooperatives with a 

low COGS would have high gross margins. 

Service and Other Operating Income

Service and other operating income is derived from 

any service cooperatives provide. Some coopera0 10 20 30 40 50 60 70

Service

Rice

Cotton ginning

Sugar

Fruit & vegetable

Cotton

Supply

Fish

Grain & oilseed

Livestock & poultry

Dairy

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

Percent

Other marketing1

Figure 13: Percentage of Assets Financed by Net Worth, by Cooperative Type, 2013
Cooperative Statistics, 2013 25

tives only provide services. Service-only co-ops 

include: rice driers, storage, transportation, auctions, hulling, seed development, locker plants, pest 

management, scouting, farmer markets, and miscellaneous services. Service income is important to 

marketing and supply cooperatives. They provide 

hauling, storage, grading, delivery, custom application, recordkeeping, and drying, to name some of 

the most common services. 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 most important for smaller cooperatives (16 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 a significant amount of service income; hence service income ranges from 24 

percent to 81 percent of sales for these cooperatives. 

Operating Expenses

There are only four categories for expenses in table 

9: wages, depreciation, interest, and “all other.” 

Wages includes salaries and wages, payroll taxes, 

employee insurance, unemployment compensation, and pension expense. The “all other” account 

includes administrative expenses, which are overhead costs and indirectly related to a cooperative’s 

revenue. These include professional services, office 

supplies, telephone, meetings and travel, donations, 

dues and subscriptions, directors’ fees and expense, 

and annual meetings. The “all other” category also 

includes general expenses, which are directly related to revenue, 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 expenses. 

Wage expenses were the highest for smaller 

cooperatives and fell as cooperative size increased, 

from 12 percent for the smallest cooperatives, to 3 

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 more than 41 percent of sales; 

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Billion dollars

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

Net operating

margins

Income

from other

cooperatives

1

Net income

before taxes

Figure 14: Cooperatives’ Net Income Before Taxes, 2004-2013
26 Cooperative Statistics, 2013

those of smaller cotton ginning cooperatives averaged almost 33 percent of sales. Dairy, grain and 

oilseed, larger and mid-sized livestock marketing 

(auctions), bioenergy, large nut, smaller rice, and 

small sugar cooperatives had lower wage expenses 

relative to sales.

 Depreciation expenses did not change much 

with cooperative size, ranging from 2 percent for 

the smallest cooperatives to 1 percent for the largest cooperatives. Smaller cotton ginning cooperatives, small nut, and service cooperatives (except 

dairy, livestock, fruit and vegetable, and cotton) 

had depreciation expenses of at least 5 percent of 

sales. Most livestock cooperatives had little PP&E, 

so depreciation expenses were less than 1 percent. 

Large cotton, most dairy, small and mid-size fruit 

and vegetable, grain and oilseed, large supply, small 

fish, small rice, large nut, and small sugar 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, small cotton ginning, 

farmer markets, and small nut cooperatives had 

interest expenses greater than 2 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. 

Net Operating Margins

Net operating margins is calculated by taking gross 

margins minus total expenses before taxes, and not 

counting patronage refunds from other cooperatives. 

So, it is income generated by a cooperative’s own 

operations. Net operating margins for all cooperatives in 2013 was $4.9 billion, excluding intercooperative dividends and refunds (table 11). Net 

operating margins was about $300 million lower 

than in 2012.

Net operating margins as a percent of net sales 

was 2 percent for all cooperatives by size (table 9). 

Most service cooperatives (except livestock), arti-

 

State Herds Cows DHI Cows

Number Percentage

Alabama 20 3,315 100

Arizona 18 47,665 97

Arkansas 16 2,301 100

California 702 913,104 100

Colorado 30 38,175 76

Connecticut 76 12,507 100

Delaware 26 3,728 100

Florida 23 26,976 60

Georgia 90 25,988 62

Idaho 136 203,914 97

Illinois 330 46,192 99

Indiana 285 49,021 91

Iowa 640 124,079 99

Kansas 134 16,906 82

Kentucky 227 27,950 93

Louisiana 30 4,462 78

Maine 110 13,200 89

Maryland 258 32,045 99

Massachusetts 67 5,656 97

Michigan 595 186,825 93

Minnesota 1,704 240,857 99

Mississippi 26 5,753 100

Missouri 250 31,943 100

Montana 21 4,616 86

Nebraska 88 24,488 99

Nevada 10 7,242 100

New Hampshire 70 9,786 100

New Jersey 41 3,377 100

New Mexico 12 38,900 83

New York 1,618 325,469 92

North Carolina 108 20,976 78

North Dakota 21 6,496 100

Ohio 710 112,069 96

Oklahoma 51 6,826 96

Oregon 149 50,081 100

Pennsylvania 3,651 316,682 95

Rhode Island 8 433 100

South Carolina 36 7,448 96

South Dakota 91 37,018 98

Tennessee 104 14,597 94

Texas 98 114,377 85

Utah 102 32,504 85

Vermont 309 51,608 97

Virginia 319 55,364 91

Washington 158 80,364 100

West Virginia 28 2,989 100

Wisconsin 4,161 689,694 99

Wyoming 1 613 100

United States 17,758 4,076,579 96

 

Table 12: Number, participation, and level of 

activity of dairy herd improvement 

associations, by State, January 31, 2013
Cooperative Statistics, 2013 27

ficial insemination, large processed and fresh fruit 

and vegetable, smaller to large supply, larger fish, 

cotton ginning, nut, and dry bean and pea cooperatives had net operating margins of at least 3 percent. 

Dairy, small fresh fruit and vegetable, large cotton, 

large poultry, smaller grain, small supply, livestock, 

livestock service, small fish, and small sugar marketing cooperatives had net operating margins of 

less than 1 percent. 

Patronage Income

Patronage refunds received (usually income from 

other cooperatives) results from business activities 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 noncash 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 $1.2 billion, up 33 

percent from $900 million in 2012 (appendix figure 

6). In 2004, refunds from other cooperatives were 

$330 million or about one-fourth of the refunds in 

2013. In 2013, refunds were almost 20 percent of 

net income before taxes.

Patronage refunds were a little less than 2 percent 

of sales for the smallest cooperatives, and fell to 

0.2 percent for the largest (table 9). All cotton ginning cooperatives had patronage refunds of almost 

2 percent of sales. All but the largest cotton ginning (sales in excess of $10 million) had patronage 

income of almost 4 percent of sales. Livestock, fish, 

large poultry, bioenergy, nut, rice, tobacco, wool, 

sugar, storage, milk service, and hulling cooperatives received virtually no patronage refunds (0.1 

percent of sales). 

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 

State Cooperatives Members Revenue

 Number Million $

Alabama 22 516,139 1,189

Alaska 17 238,351 743

Arizona 15 233,683 510

Arkansas 19 510,356 1,005

California 5 38,861 71

Colorado 23 615,796 1,395

Delaware 1 84,430 133

Florida 15 855,053 2,095

Georgia 43 1,840,847 3,912

Hawaii 1 36,408 188

Idaho 11 88,759 157

Illinois 26 288,407 712

Indiana 40 539,560 1,322

Iowa 37 219,674 603

Kansas 29 288,448 751

Kentucky 25 785,425 2,032

Louisiana 10 385,708 662

Maine 3 15,146 10

Maryland 2 206,067 522

Michigan 11 324,253 485

Minnesota 44 764,643 1,484

Mississippi 26 754,266 1,817

Missouri 46 717,932 1,302

Montana 27 189,078 339

Nebraska 33 239,438 750

Nevada 6 48,227 161

New Hampshire 1 78,885 114

New Jersey 1 11,571 18

New Mexico 16 210,614 488

New York 4 18,073 24

North Carolina 27 996,509 1,865

North Dakota 20 165,575 611

Ohio 25 382,965 875

Oklahoma 27 487,318 1,063

Oregon 17 206,730 382

Pennsylvania 15 217,268 318

South Carolina 22 733,237 1,653

South Dakota 30 153,884 388

Tennessee 22 930,131 2,338

Texas 69 1,986,535 4,185

Utah 5 46,600 111

Vermont 2 48,611 83

Virginia 13 607,992 1,421

Washington 13 149,539 304

West Virginia 1 6,663 13

Wisconsin 24 263,509 490

Wyoming 11 106,149 414

United States 902 18,633,313 41,508

 

1

 Distribution cooperatives plus generating and transmission 

cooperatives equals the total number of cooperatives.

Table 13: Number1, participation, and level 

of activity of rural electric cooperatives, by 

State, December 2012
28 Cooperative Statistics, 2013

extraordinary items. Sometimes PP&E are sold to 

generate income, but usually these types of assets 

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. Sales of extraordinary items might generate 

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 0.5 percent of sales.

Net Income Before Taxes

Net income before taxes (NIBT) was $6.2 billion, 

an increase less than of 1 percent from $6.1 billion 

in 2012. Net income in 2013 was over 2.5 times the 

NIBT of $2.3 billion in 2004 (appendix table 7 and 

figure 14). 

Marketing cooperatives’ NIBT of $2.6 billion 

was up 4 percent from the $2.5 billion generated in 

2012. Dairy, fruit and vegetable, and rice were the 

only major types of marketing cooperatives with an 

increase in net income before taxes. 

Total NIBT of supply cooperatives was $3.5 billion in 2013, down $100 million from $3.6 billion 

in 2012 (figure 15). Supply cooperatives accounted 

for 57 percent of cooperatives’ NIBT in 2013, down 

from the almost 59 percent in 2012 (appendix figure 

7). 

Losses totaled $213 million in 2013, a 25-percent 

decrease from 2012. Cotton cooperatives accounted 

for 59 percent of the losses in 2013, while dairy 

cooperatives had 58 percent of the losses in 2012 

(appendix figure 8). The number of cooperatives 

with losses declined 1 percent, from 225 to 222. 

Income Taxes

Cooperatives paid income taxes on earnings not 

allocated to members (retained earnings) and on 

-500 0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000

Cotton

Livestock and poultry

Service

Rice

Other marketing

Sugar

Dairy

Fruit and vegetable

Grain and oilseed

Supply

Million dollars

1

Includes dividends and patronage refunds from other cooperatives and CoBank.

Income from other cooperatives1

Net operating margins

Figure 15: Before Taxes Net Income or Loss, by Type of Cooperative, 2013
Cooperative Statistics, 2013 29

dividend payments. The board of each cooperative 

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 $600 

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 

(4.6 percent) and fell to 2 percent for the largest 

cooperatives. The following co-op sectors had net 

incomes of greater than 5 percent: cotton service, 

most cotton ginning, larger processed and fresh 

fruit and vegetable, small artificial insemination, 

middle supply, small nut, large sugar, rice drier, 

small transportation, storage, hulling, and fresh fruit 

and vegetable service cooperatives. 

Cotton, livestock service, larger dairy, small supply, small grain and oilseed, most livestock, smaller 

fish, small rice, wool, and large poultry cooperatives had net income relative to sales of less than 1 

percent. 

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, 

ratio interpretation is largely subjective.

Nine financial ratios were used to measure cooperative performance or financial condition: current, 

debt-to-asset, debt-to-equity, retained earnings-tototal-equity, equity-to-assets, adjusted equity-toassets, return-on-assets, return-on-member equity, 

and extra value index. 

The formulas for these ratios are:

• Current = current assets / current liabilities;

• Debt-to-asset = debt / total assets (debt = all 

liabilities);

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

/ total assets);

• Retained-earnings-to-total-equity = retained 

earnings / total equity;

• Equity-to-assets = total equity / total assets;

• Adjusted equity-to-assets = total equity / 

(total assets - current liabilities);

• Return-on-assets-before-interest-and-taxes = 

(NIBT + interest expense) / total assets;

• Return-on-member-equity = net income / allocated equity; 

• Extra value index = net income after taxes – 

(total equity * (LIBOR3 12 month maturity 

December average + X%)) / (total assets 

- current liabilities), where X=2 is a basic 

premium for risk; X=5 is a moderate level of 

risk, and X=10 is a high level of risk.

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 mainly of 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, 1.7, 

meaning current assets exceed current liabilities by 

1.7 times or less. 

3

London Interbank Offered Rate
30 Cooperative Statistics, 2013

If necessary, 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 2 for small artificial insemination, large processed and fresh fruit and vegetable, 

large poultry, large nut, rice, tobacco, wool, bioenergy, small transportation, dairy service, 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 43 percent of assets owned by cooperatives 

with sales of less than $5 million and rose to 61 

percent for the largest cooperatives. Small artificial 

insemination, bioenergy, large sugar, small transportation, milk service, and tobacco cooperatives used 

debt financing for one-third or less of their assets. 

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 by accelerating payments on long-term 

loans. Cooperatives may also try 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 cooperative size increases, so does use of 

debt. The ratio was 0.8 for the smallest cooperatives, climbing to 1.6 for the largest cooperatives. 

Artificial insemination, most cotton ginning, small 

dairy, smaller fresh fruit and vegetable, smaller processed and fresh fruit and vegetable, large-to-small 

supply, smaller mixed supply, poultry, bioenergy, 

rice, tobacco, larger sugar, and most service cooperatives all had a ratio of less than 1. 

The ratio of retained-earnings-to-total-equity

shows the use of retained earnings and allocated 

equity. Net income from non-member business is 

the usual source of retained earnings (unallocated 

equity). Operationally, the ratio can be improved by 

increasing equity or holding less retained earnings. 

For all but the largest and smallest cooperatives, 

retained-earnings-to-total-equity is greater than 30, 

meaning the cooperative has about one-third of total 

equity comprised of retained earnings. This ratio 

increases as cooperative size increases for all but 

the largest cooperatives, for which the leverage ratio 

is 31 percent. The smallest cooperatives have retained earnings of 27 percent relative to total equity. 

Cotton ginning, large and smaller dairy, small and 

larger processed and fresh fruit and vegetable, small 

fish, larger and small sugar, and most service cooperatives have retained-earnings-to-total-equity ratios 

of less than 20 percent.

Solvency Ratios 

Solvency ratios look at the long-term solvency of 

the cooperative and help analyze the use of equity 

and the ability to meet obligations in times of crisis. 

The ratio of equity-to-assets measures the use of 

equity to finance the cooperative and can be considered a measure of solvency or financial strength of 

the cooperative. The ratio is the inverse of the previously described debt-to-asset ratio (equity-to-assets 

ratio = 1 minus debt-to-asset ratio).

Smaller cooperatives are generally stronger 

financially because they finance a larger proportion 

of their assets with their own equity. The equity-toassets ratio ranges from 57 for the smallest cooperatives to 39 for the largest. With an equity-to-assets 

ratio of 39, about 40 percent of a cooperative’s assets is financed by equity, and 60 percent is financed 

by debt. Small livestock, small cotton ginning, 

small dairy, smaller farm supply, bioenergy, small 

rice, tobacco, transportation, milk service, and 

livestock service cooperatives all have an equity-toassets ratio in excess of 60. 

Another measure of solvency or financial strength 

is shown by the adjusted equity-to-assets ratio, 

where total equity is divided by total assets, minus 

current liabilities. When current liabilities are subtracted from assets, the remainder is long-term debt 

and total equity, so the ratio shows the relative use 
Cooperative Statistics, 2013 31

of long-term debt and equity to finance the cooperative. A higher ratio indicates higher solvency or 

a greater use of equity to finance operations. Operationally, reducing long-term debt or increasing 

equity strengthens this ratio.

Small cooperatives have an adjusted equity-toassets ratio of 82, but this ratio falls to 67 for the 

largest cooperatives, indicating that larger cooperatives use more long-term debt. Smaller dairy, small 

fresh fruit and vegetable, small fresh and processed 

fruit and vegetable, smaller supply, smaller mixed 

supply, smaller livestock, bioenergy, small rice, 

larger sugar, small transportation, cotton service, 

milk service, and livestock service cooperatives 

have an adjusted equity-to-assets ratio of at least 85.

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 investororiented firms are not appropriate because there is 

seldom an open market for cooperative stock. 

Return-on-assets-before-interest-and-taxes

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 indicates a comparatively high 

rate of return on assets employed. This ratio rose 

from 7 for the smallest cooperatives to almost 9 

for middle-size cooperatives, and almost 9 for the 

largest cooperatives. It is at least 15 for most cotton 

ginning, small sugar, rice drier, smaller fish, large 

fresh and processed fruit and vegetable, 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 it 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. A high ratio tends to reduce 

interest cost over time but may occur when both 

total debt and interest costs are high. 

By size of cooperative, the highest return-onmember-equity was over 30 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 14. Small 

nut, large supply, middle livestock, small fish, large 

and small sugar, and hulling have a 45-percent or 

greater return-on-member-equity ratio. 

Extra-Value Index

The extra-value index (EVI) can help members 

evaluate their cooperative’s performance, because 

it provides a value for the opportunity cost of using 

equity capital [Liebrand]. A cooperative’s equity 

capital is not openly traded in a stock market as that 

of an investor-oriented firm, so it is hard for cooperative members to determine if management is increasing or decreasing the value of the cooperative. 

The EVI attempts to put a value on the opportunity 

cost of equity capital through the use of an interest 

charge on the equivalent to the amount the money 

(member equity capital) could have earned if used 

elsewhere. In other words, EVI evaluates cooperative performance by subtracting the opportunity cost 

of equity capital from the profitability ratio.

If the EVI is positive, cooperative management 

has created value for members because the cooperative’s operations are covering the opportunity cost 

of member’s equity capital. The converse is true if 

the EVI index is negative—member’s investment 

in the cooperative is being diminished because the 

opportunity cost of member’s equity capital is not 

being covered. 

There are three values shown for EVI in table 9. 

The EVI+2 represents a basic rate by adding 200 

basis points to the London Inter-Bank Offered Rate 

(LIBOR) 12-month maturity December average, 

which was 0.58 for December 2013. The basic LIBOR+2 rate represented in table 9 as EVI+2 (2.58) 

reflects the rate that banks in the United States 

might make loans to firms with better-than-average 

credit ratings. EVI+5 (5.58) represents a moderate premium for risk or LIBOR rate plus 500 basis 

points, while EVI +10 (10.58) is a higher premium 

for risk as it is LIBOR rate plus 1,000 basis points.
32 Cooperative Statistics, 2013

Smaller cooperatives, which generally have a 

larger proportion of equity relative to assets, have 

a lower EVI. For EVI+2, small cooperatives generated 6.2 cents of extra value for each $1 of member 

equity investment. For the higher risk of EVI+10, 

smaller cooperatives had a negative return of 0.3 

cents.

For EVI+2, rice drier, middle livestock, large 

cotton ginning, smaller fish, small sugar, and hulling cooperatives all had EVIs of at least 20 cents 

(Appendix Table 6). The EVI used in these tables 

was the same for all cooperatives. The LIBOR rate 

is a proxy for a cooperative’s cost of capital, since 

the cooperative would know this value, and it could 

be plugged into the formula to generate its individual EVI.

Other Service Cooperatives

Dairy Herd Improvement Associations

Dairy Herd Improvement Associations (DHIA) 

had 17,836 memberships in 2013 (Table 12), 

down from 18,579 in 2012. The DHIA tested 

nearly 4,092,281million cows in 2013, down from 

4,133,140 million in 2012. Wisconsin (4,161), 

Pennsylvania (3,651), Minnesota (1,704), and New 

York (1,618) combined accounted for 38 percent 

of total members. About 913,104 (22.3 percent) of 

the cows tested were in California, down from 22.9 

percent in 2012.

Rural Electric Cooperatives

The number of rural electric cooperatives increased 

from 860 to 902 from 2011 to 2012. The top three 

States with the most number of rural electric cooperatives were Texas (69), Minnesota (44), and 

Georgia (43). Revenue and the number of members 

for rural electric cooperatives also increased from 

2011 to 2012. Revenue in 2011 was $40,314,000 

and increased in to 2012 $41,508,000. The number 

of members in 2011 was 19,005,000 and decreased 

in 2012 to 18,633,313.

BIBLIOGRAPHY

Ali, Sarah and E. Eldon Eversull, Cooperative 

Statistics, 2012, U.S. Department of Agriculture, 

Rural Development, Service Report 74, November 

2013.

Liebrand, Carolyn Betts, Financial Profile of 

Dairy Cooperatives, 2007, U.S. Department of Agriculture, Rural Development, Research Report 219, 

April 2010.
Cooperative Statistics, 2013 33

APPENDIX TABLES

 

Major business activity 2013 2012 2011 2010 2009 

Products marketed: Number

Bean and pea (dry edible) 5 5 5 5 6

Cotton 12 12 12 12 12

Cotton ginning 148 151 153 160 166

Dairy 127 133 131 138 140

Fish 39 39 38 37 35

Fruit and vegetable 145 144 144 137 144

Grain and oilseed1 490 488 525 515 548

Livestock 91 87 86 81 79

Nut 18 19 18 17 16

Poultry2 12 11 10 10 10

Rice 12 12 12 12 14

Sugar3 27 27 26 27 31

Tobacco 5 6 6 8 9

Wool and mohair 41 43 45 54 57

Other marketing 23 23 26 25 26

Total marketing 1,195 1,200 1,237 1,238 1,293

 

Total supplies 871 916 934 973 990

 

Total services 120 120 123 116 123

Total 2,186 2,236 2,294 2,327 2,406

1 Cooperatives primarily handling grain and oilseed, excluding cottonseed. 

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

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

Appendix Table 1: Number of cooperatives, by major business activity, 2013-2009
34 Cooperative Statistics, 2013

Major business activity 2013 2012 2011 2010 2009

Products marketed: Thousands

Bean and pea (dry edible) 1.8 1.9 1.8 1.8 1.7

Cotton 25.1 18.8 25.4 28.2 29.2

Cotton ginning 24.8 25.4 26.6 25.7 25.8

Dairy 46.3 45.1 48.5 44.2 48.8

Fish 5.5 5.4 5.4 5.4 5.3

Fruit and vegetable 20.8 21.0 22.0 22.1 22.3

Grain and oilseed1 400.3 400.5 584.7 416.9 428.2

Livestock 71.7 70.8 73.7 75.4 73.3

Nut 9.9 9.7 9.7 15.6 15.2

Poultry2 0.6 0.5 0.5 0.5 0.5

Rice 10.8 10.7 10.9 11.6 11.6

Sugar3 9.5 8.8 8.7 9.4 10.9

Tobacco 13.8 18.8 11.9 65.0 65.1

Wool and mohair 9.5 9.5 9.6 9.6 9.9

Other marketing 5.1 4.8 6.5 5.4 6.5

Total marketing 655.3 651.9 845.9 736.6 754.2

 

Total supplies 1,284.3 1,426.4 1,397.6 1,462.6 1,447.5

 

Total services 37.2 36.5 35.6 35.2 35.4

 

Total 1,976.7 2,114.8 2,279.1 2,234.4 2,237.1

1 Cooperatives primarily handling grain and oilseed, excluding cottonseed. 

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

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

Appendix Table 2: Cooperative memberships, by major business activity, 2013-2009
Cooperative Statistics, 2013 35

 

Major business activity 2013 2012 2011 2010 2009

Products marketed: Billion $

Bean and pea (dry edible) 0.2 0.2 0.2 0.2 0.2

Cotton 3.1 3.2 4.1 2.4 2.4

Dairy 42.7 41.4 42.3 34.3 30.5

Fish 0.2 0.2 0.3 0.2 0.2

Fruit and vegetable 8.2 8.0 7.8 7.7 7.5

Grain and oilseed1 67.0 64.5 56.1 41.0 44.4

Livestock 3.3 4.0 4.4 3.6 3.1

Nut 1.3 1.1 0.9 0.9 0.8

Poultry2 0.7 1.5 1.3 1.2 1.2

Rice 1.7 1.6 1.6 1.5 1.7

Sugar3 8.7 8.5 5.7 5.0 4.6

Tobacco 0.1 0.1 0.3 0.2 0.2

Other marketings4 7.2 6.7 6.3 4.8 4.8

Total marketing 144.6 140.9 131.1 103.0 101.4

 

Supplies purchased: 

Crop protectants 11.6 11.1 9.7 8.1 8.2

Feed 16.2 15.1 13.4 10.8 11.1

Fertilizer 17.7 17.8 14.9 11.1 12.6

Petroleum 38.5 36.8 31.2 24.5 23.3

Seed 5.5 5.6 4.9 4.3 3.9

Other supplies 6.4 5.8 7.2 5.0 4.8

Total supplies 95.9 92.2 81.4 63.8 63.9

 

Services and all other income 5.6 4.7 4.4 4.9 4.9

 

Total 246.1 237.8 217.0 171.8 170.3

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.

Appendix Table 3: Cooperative’s gross business volume, by type of cooperative, 2013-

2009
36 Cooperative Statistics, 2013

 

Major business activity 2013 2012 2011 2010 2009 

Products marketed: Billion dollars

Bean and pea (dry edible) 0.2 0.2 0.2 0.2 0.2

Cotton 3.0 3.1 4.0 2.3 2.2

Dairy 40.2 39.7 40.7 31.1 27.6

Fish 0.2 0.2 0.3 0.2 0.2

Fruit and vegetable 5.9 5.8 5.6 5.5 5.4

Grain and oilseed1 66.3 63.7 55.3 40.5 43.8

Livestock 3.3 4.0 4.2 3.6 3.0

Nut 1.3 1.1 0.9 0.9 0.1

Poultry2 0.7 1.5 1.3 1.2 1.2

Rice 1.7 1.6 1.6 1.5 1.7

Sugar3 6.0 6.0 4.8 4.1 3.8

Tobacco 0.1 0.1 0.3 0.2 0.2

Other marketing4 6.8 6.3 5.9 4.5 4.5

Total marketing 135.8 133.2 124.8 95.8 93.9

 

Supplies purchased: 

Crop protectants 7.3 7.2 6.6 5.6 5.8

Feed 12.7 11.8 10.5 8.6 8.8

Fertilizer 14.0 14.2 11.9 9.4 10.8

Petroleum 24.4 23.4 20.3 16.5 15.8

Seed 3.4 3.3 2.9 2.6 2.5

Other supplies 5.4 4.9 5.6 4.4 4.2

Total supplies 67.2 64.7 57.8 47.1 47.9

 

Services and all other income 5.6 4.7 4.4 4.9 4.9

 

Total 208.6 202.6 187.1 147.8 146.7

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.

Appendix Table 4: Cooperatives’ net business volume, by type of cooperative, 

2013-2009
Cooperative Statistics, 2013 37

 Assets Investments 

 from own in other Total Total Net 

Year operations cooperatives1 assets liabilities worth 

 Billion dollars

2004 41.18 4.73 45.91 26.21 19.70

2005 42.70 4.33 47.04 27.67 19.37

2006 44.15 3.57 47.72 28.07 19.65

2007 53.75 4.20 57.95 36.70 21.25

2008 65.98 4.28 70.26 47.06 23.20

2009 57.20 4.03 61.23 37.41 23.83

2010 60.53 4.37 64.89 38.99 25.90

2011 75.01 4.41 79.41 51.30 28.11

2012 78.60 4.76 83.36 53.21 30.15

2013 77.32 5.24 82.56 47.92 34.64

 

 Percent of total assets 

2004 89.7 10.3 100.0 57.1 42.9

2005 90.8 9.2 100.0 58.8 41.2

2006 92.5 7.5 100.0 58.8 41.2

2007 92.8 7.2 100.0 63.3 36.7

2008 93.9 6.1 100.0 67.0 33.0

2009 93.4 6.6 100.0 61.1 38.9

2010 93.3 6.7 100.0 60.1 39.9

2011 94.5 5.5 100.0 64.6 35.4

2012 94.3 5.7 100.0 63.8 36.2

2013 93.7 6.3 100.0 58.0 42.0

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

Appendix Table 5: Combined balance sheet data for cooperatives, 2004-2013
38 Cooperative Statistics, 2013

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 53.42 64.19 70.65 74.34 53.57

Other assets 17.74 4.12 7.17 0.78 7.91

Investments 6.80 12.40 1.12 0.62 11.24

PP&E1 (net) 22.05 19.29 21.05 24.26 27.28

Total assets 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 30.40 18.75 46.48 62.23 45.43

Total liabilities 44.41 31.93 54.46 70.27 51.30

Allocated equity 29.20 59.75 26.09 5.65 50.12

Retained earnings 26.39 8.31 19.44 24.08 -1.42

Total equity 55.59 68.07 45.54 29.73 48.70

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 35.25 30.73 95.60 89.47

Gross margin 64.75 69.27 4.40 10.53

 

Service and other income 6.79 4.26 1.85 0.35 100.00

Gross revenue 71.54 73.54 6.25 10.88 100.00

Expenses 

Wages 41.12 45.58 3.18 2.32 26.18

Depreciation 3.60 2.50 0.58 1.31 4.29

Interest 0.37 0.00 0.86 1.25 3.56

Other 22.30 19.66 4.48 3.85 49.86

Total expenses 67.39 67.75 9.10 8.73 83.89

 

Net operating margins 4.15 5.79 -2.85 2.15 16.11

Patronage income 0.10 0.30 0.04 0.06 0.61

Non-operating income 0.78 0.89 -0.17 0.52 1.21

Net income before taxes 5.03 6.98 -2.97 2.72 17.92

Taxes 0.73 0.32 0.03 0.01 0.00

Net income 4.31 6.66 -3.00 2.72 17.92

Ratios Percent or number

Current 1.76 3.42 1.52 1.19 1.18

Debt-to-asset 0.44 0.32 0.54 0.70 0.51

Debt-to-equity 0.80 0.47 1.20 2.36 1.05

Retained-earnings-to-equity 47.48 12.21 42.70 81.01 -2.91

Equity-to-assets 55.59 68.07 45.54 29.73 48.70

Adjusted-equity-to-assets 79.88 83.77 85.07 78.71 89.24

Return-on-assets 6.75 10.45 -7.66 7.71 8.75

Return-on-member-equity 18.40 16.67 -41.74 93.39 14.56

 

Extra value index +2 5.66 10.10 -20.35 11.93 11.07

Extra value index +5 3.26 7.59 -20.35 9.57 8.40

Extra value index +10 -0.73 3.40 -20.35 5.63 3.93

1

(Property, plant, and equipment) (continued next page)

Appendix table 6: Common size analysis, by cooperative type and size, 2013
Cooperative Statistics, 2013 39

Type of cooperative Cotton ginning

Cooperative sales size > $10 $5 to $1 to < $1

 million $10 million $5 million million

Balance sheet Percent of total assets 

Current assets 48.88 36.64 38.96 38.35

Other assets 0.77 1.16 6.06 11.72

Investments 13.69 18.49 11.89 6.86

PP&E1 (net) 36.67 43.72 43.09 43.07

Total assets 100.00 100.00 100.00 100.00

 

Current liabilities 39.93 26.49 24.90 27.90

Total liabilities 51.07 38.72 40.96 43.72

Allocated equity 38.43 50.02 48.64 50.15

Retained earnings 10.50 11.26 10.39 6.13

Total equity 48.93 61.28 59.04 56.28

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 82.08 77.45 80.75 76.62

Gross margin 17.92 22.55 19.25 23.38

 

Service and other income 23.73 29.87 41.73 80.95

Gross revenue 41.65 52.42 60.98 104.33

Expenses 

Wages 8.64 15.04 17.27 32.72

Depreciation 3.03 4.89 5.40 10.75

Interest 1.00 0.64 1.12 2.72

Other 19.37 23.31 31.67 52.12

Total expenses 32.04 43.88 55.46 98.30

 

Net operating margins 9.61 8.54 5.52 6.02

Patronage income 1.55 3.70 7.92 11.64

Non-operating income 0.60 0.29 1.64 4.10

Net income before taxes 11.76 12.53 15.08 21.76

Taxes 0.04 0.25 0.24 -0.03

Net income 11.72 12.28 14.84 21.79

Ratios Percent or number

Current 1.22 1.38 1.56 1.37

Debt-to-asset 0.51 0.39 0.41 0.44

Debt-to-equity 1.04 0.63 0.69 0.78

Retained-earnings-to-equity 21.46 18.38 17.60 10.89

Equity-to-assets 48.93 61.28 59.04 56.28

Adjusted-equity-to-assets 81.46 83.37 78.61 78.06

Return-on-assets 18.92 16.23 14.98 12.50

Return-on-member-equity 45.22 30.25 28.20 22.19

 

Extra value index +2 26.83 18.44 16.24 13.42

Extra value index +5 24.39 15.94 13.88 11.08

Extra value index +10 20.31 11.77 9.95 7.18

Appendix table 6: Common size analysis, by cooperative type and size, 2013, (continued)
40 Cooperative Statistics, 2013

Type of cooperative Dairy and dairy products

Cooperative sales size ≥ $1 $300 to $50 to $20 to

 billion $1 billion $200 million $50 million

Balance sheet Percent of total assets

Current assets 51.36 55.49 61.56 77.92

Other assets 22.73 2.39 3.85 8.25

Investments 0.98 2.64 8.97 4.20

PP&E1 (net) 24.94 39.47 25.63 9.63

Total assets 100.00 100.00 100.00 100.00

 

Current liabilities 48.18 34.67 49.57 39.86

Total liabilities 71.03 61.24 60.96 47.45

Allocated equity 24.67 32.06 27.72 50.31

Retained earnings 4.30 6.70 11.32 2.24

Total equity 28.97 38.76 39.04 52.55

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 90.84 91.45 94.62 95.77

Gross margin 5.76 8.55 5.38 4.23

 

Service and other income 0.18 0.59 0.71 5.58

Gross revenue 5.94 9.14 6.08 9.81

Expenses 

Wages 2.78 3.14 2.29 5.30

Depreciation 0.67 0.77 0.48 0.56

Interest 0.24 0.25 0.06 0.11

Other 1.80 4.16 2.74 2.99

Total expenses 5.49 8.32 5.57 8.96

 

Net operating margins 0.45 0.81 0.51 0.85

Patronage income 0.07 0.04 0.28 0.29

Non-operating income -0.54 0.16 0.15 0.72

Net income before taxes -0.02 1.01 0.93 1.86

Taxes 0.02 0.07 0.01 0.20

Net income 0.00 0.95 0.93 1.67

Ratios Percent or number

Current 1.07 1.60 1.24 1.95

Debt-to-asset 0.71 0.61 0.61 0.47

Debt-to-equity 2.45 1.58 1.56 0.90

Retained-earnings-to-equity 14.84 17.30 28.99 4.27

Equity-to-assets 28.97 38.76 39.04 52.55

Adjusted-equity-to-assets 55.91 59.34 77.41 87.38

Return-on-assets 1.02 5.01 6.23 6.79

Return-on-member-equity -0.03 11.73 21.01 11.42

 

Extra value index +2 -1.46 4.22 9.55 7.30

Extra value index +5 -3.13 2.44 7.23 4.68

Extra value index +10 -5.93 -0.52 3.36 0.31

 (continued next page)

Appendix table 6: Common size analysis, by cooperative type and size, 2013, (continued)
Cooperative Statistics, 2013 41

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 64.87 57.02 66.23 62.27

Other assets 4.44 8.80 9.53 11.65

Investments 15.36 23.25 7.04 0.00

PP&E1 (net) 15.33 10.92 17.20 26.09

Total assets 100.00 100.00 100.00 100.00

 

Current liabilities 49.72 34.60 46.37 51.64

Total liabilities 57.64 36.11 59.53 65.95

Allocated equity 31.80 52.62 31.60 44.76

Retained earnings 10.56 11.26 8.87 -10.71

Total equity 42.36 63.89 40.47 34.05

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 94.75 92.97 93.08 94.29

Gross margin 5.25 7.03 6.92 5.71

 

Service and other income 1.24 1.30 2.18 9.24

Gross revenue 6.49 8.33 9.10 14.95

Expenses 

Wages 1.82 2.97 3.46 5.23

Depreciation 0.32 0.37 0.48 1.15

Interest 0.16 0.06 0.28 0.59

Other 3.71 4.41 3.89 7.75

Total expenses 6.01 7.82 8.11 14.73

 

Net operating margins 0.47 0.50 0.99 0.22

Patronage income 0.39 1.03 0.21 0.01

Non-operating income 0.16 0.42 0.11 0.53

Net income before taxes 1.03 1.96 1.31 0.76

Taxes 0.00 0.02 0.05 0.00

Net income 1.03 1.93 1.26 0.76

Ratios Percent or number

Current 1.30 1.65 1.43 1.21

Debt-to-asset 0.58 0.36 0.60 0.66

Debt-to-equity 1.36 0.57 1.47 1.94

Retained-earnings-to-equity 24.93 17.63 21.93 -31.45

Equity-to-assets 42.36 63.89 40.47 34.05

Adjusted-equity-to-assets 84.25 97.69 75.46 70.41

Return-on-assets 8.41 9.47 8.09 4.28

Return-on-member-equity 22.87 17.22 20.31 5.39

 

Extra value index +2 12.29 11.34 10.02 3.17

Extra value index +5 9.77 8.41 7.75 1.06

Extra value index +10 5.55 3.52 3.98 -2.46

Appendix table 6: Common size analysis, by cooperative type and size, 2013, (continued)
42 Cooperative Statistics, 2013

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 52.51 54.57 50.21 52.59 63.11 45.54

Other assets 6.99 6.38 5.77 13.79 9.55 8.77

Investments 3.43 5.03 3.78 7.07 0.01 0.00

PP&E1 (net) 37.08 34.03 40.24 26.56 27.34 45.69

Total assets 100.00 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 36.48 39.69 30.91 36.31 45.74 32.04

Total liabilities 60.41 53.44 47.55 50.65 62.77 41.22

Allocated equity 22.12 23.86 35.42 37.19 26.46 15.09

Retained earnings 17.48 22.69 17.03 12.16 10.77 43.69

Total equity 39.59 46.56 52.45 49.35 37.23 58.78

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 78.70 71.76 80.77 77.55 85.94 86.30

Gross margin 21.30 28.24 19.23 22.45 14.06 13.70

 

Service and other income 2.42 5.53 6.38 1.12 23.54 18.56

Gross revenue 23.72 33.77 25.61 23.57 37.60 32.25

Expenses 

Wages 10.43 12.68 11.88 8.18 16.60 15.84

Depreciation 1.73 1.63 1.35 1.30 2.18 2.16

Interest 0.37 0.32 1.50 0.59 0.97 0.54

Other 9.24 16.90 9.79 14.42 17.26 14.44

Total expenses 21.76 31.54 24.53 24.48 37.01 32.98

 

Net operating margins 1.95 2.22 1.08 -0.91 0.59 -0.73

Patronage income 0.13 0.00 0.99 0.34 0.02 0.00

Non-operating income 0.19 0.40 0.41 0.44 1.66 4.25

Net income before taxes 2.27 2.63 2.48 -0.13 2.26 3.53

Taxes 0.29 0.27 0.17 0.02 0.03 0.00

Net income 1.98 2.36 2.32 -0.15 2.23 3.53

Ratios Percent or number

Current 1.44 1.37 1.62 1.45 1.38 1.42

Debt-to-asset 0.60 0.53 0.48 0.51 0.63 0.41

Debt-to-equity 1.53 1.15 0.91 1.03 1.69 0.70

Retained-earnings-to-equity 44.14 48.74 32.47 24.63 28.93 74.33

Equity-to-assets 39.59 46.56 52.45 49.35 37.23 58.78

Adjusted-equity-to-assets 62.34 77.20 75.91 77.49 68.61 86.49

Return-on-assets 6.75 6.98 12.32 0.87 3.19 5.78

Return-on-member-equity 22.93 23.37 20.21 -0.77 8.31 33.23

 

Extra value index +2 6.38 7.26 8.40 -2.45 2.28 5.15

Extra value index +5 4.51 4.94 6.12 -4.77 0.22 2.55

Extra value index +10 1.39 1.08 2.33 -8.65 -3.21 -1.77

 (continued next page)

 

Appendix table 6: Common size analysis, by cooperative type and size, 2013, (continued)
Cooperative Statistics, 2013 43

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

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

 million to $500 million to $200 million to $50 million $6 million 

Balance sheet Percent of total assets

Current assets 53.77 69.03 69.25 45.98 78.32

Other assets 16.03 5.25 6.18 1.48 0.52

Investments 0.93 1.38 1.56 25.52 7.36

PP&E1 (net) 29.26 24.35 23.02 27.02 13.80

Total assets 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 17.26 46.20 57.35 32.01 58.20

Total liabilities 42.95 71.09 64.13 45.01 62.72

Allocated equity 55.25 13.95 23.83 51.78 26.18

Retained earnings 1.80 14.96 12.04 3.21 11.10

Total equity 57.05 28.91 35.87 54.99 37.28

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 76.78 74.32 87.04 75.76 80.65

Gross margin 23.22 25.68 12.96 24.24 19.35

 

Service and other income 3.98 0.00 1.26 1.67 9.15

Gross revenue 27.21 25.68 14.22 25.92 28.50

Expenses 

Wages 8.35 13.21 5.76 10.21 13.85

Depreciation 2.38 1.80 0.70 1.68 0.89

Interest 0.71 0.98 0.34 0.45 0.54

Other 5.76 6.74 6.16 13.36 11.80

Total expenses 17.20 22.73 12.96 25.70 27.08

 

Net operating margins 10.01 2.95 1.26 0.21 1.42

Patronage income 0.04 0.04 0.04 0.19 0.15

Non-operating income 1.29 0.21 -0.02 0.85 0.12

Net income before taxes 11.33 3.20 1.29 1.25 1.69

Taxes 0.56 0.67 0.10 0.17 0.20

Net income 10.77 2.53 1.19 1.08 1.48

Ratios Percent or number

Current 3.12 1.49 1.21 1.44 1.35

Debt-to-asset 0.43 0.71 0.64 0.45 0.63

Debt-to-equity 0.75 2.46 1.79 0.82 1.68

Retained-earnings-to-equity 3.15 51.74 33.56 5.83 29.78

Equity-to-assets 57.05 28.91 35.87 54.99 37.28

Adjusted-equity-to-assets 68.95 53.74 84.10 80.88 89.18

Return-on-assets 18.11 6.31 5.53 2.36 4.11

Return-on-member-equity 29.32 27.40 16.94 2.90 10.45

 

Extra value index +2 17.80 5.72 7.29 0.12 4.24

Extra value index +5 15.73 4.11 4.77 -2.30 1.57

Extra value index +10 12.28 1.42 0.57 -6.35 -2.89

Appendix table 6: Common size analysis, by cooperative type and size, 2013, (continued)
44 Cooperative Statistics, 2013

Type of cooperative Supply (with 100% supply sales)

Cooperative sales size ≥ $500 $100 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 60.97 55.23 51.97 57.24 48.47 51.77

Other assets 6.30 11.55 3.37 3.05 3.87 2.44

Investments 12.77 11.65 21.27 17.05 21.65 21.89

PP&E1 (net) 19.97 21.57 23.39 22.66 26.01 23.91

Total assets 100.00 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 35.55 35.10 31.61 36.64 34.52 30.38

Total liabilities 51.08 48.82 37.72 45.24 40.44 35.98

Allocated equity 18.82 27.07 31.47 35.45 37.49 37.30

Retained earnings 30.09 24.11 30.81 19.31 22.07 27.73

Total equity 48.92 51.18 62.28 54.76 59.56 65.02

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 93.73 86.01 86.45 86.18 84.96 86.69

Gross margin 6.27 13.99 13.55 13.82 15.04 13.31

 

Service and other income 0.47 1.34 2.10 1.54 1.30 4.32

Gross revenue 6.74 15.33 15.64 15.36 16.34 17.63

Expenses 

Wages 2.07 6.43 6.72 6.87 6.96 7.55

Depreciation 0.73 1.29 1.27 1.52 1.55 1.63

Interest 0.31 0.36 0.22 0.38 0.28 0.38

Other 1.20 4.34 5.31 4.66 5.26 5.13

Total expenses 4.31 12.41 13.53 13.43 14.05 14.69

 

Net operating margins 2.43 2.92 2.12 1.93 2.29 2.94

Patronage income 0.48 1.96 2.76 2.78 3.22 3.37

Non-operating income 0.26 0.43 0.65 1.30 0.78 0.64

Net income before taxes 3.17 5.31 5.52 6.02 6.30 6.94

Taxes 0.62 1.13 0.86 0.51 0.68 0.76

Net income 2.55 4.18 4.66 5.50 5.62 6.18

Ratios Percent or number

Current 1.71 1.57 1.64 1.56 1.40 1.70

Debt-to-asset 0.51 0.49 0.38 0.45 0.40 0.35

Debt-to-equity 1.04 0.95 0.61 0.83 0.68 0.54

Retained-earnings-to-equity 61.52 47.11 49.47 35.26 37.05 42.64

Equity-to-assets 48.92 51.18 62.28 54.76 59.56 65.02

Adjusted-equity-to-assets 75.90 78.86 91.06 86.42 90.96 93.40

Return-on-assets 13.27 14.11 13.48 11.99 12.85 13.94

Return-on-member-equity 51.67 38.37 34.75 29.09 29.31 31.57

 

Extra value index +2 13.13 13.97 13.64 14.05 14.43 14.50

Extra value index +5 10.86 11.60 10.91 11.45 11.70 11.70

Extra value index +10 7.06 7.66 6.36 7.13 7.16 7.03

 (continued next page)

Appendix table 6: Common size analysis, by cooperative type and size, 2013, (continued)
Cooperative Statistics, 2013 45

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 51.83 55.75 55.54 58.55 58.83

Other assets 2.33 1.46 4.29 6.41 8.95

Investments 24.64 21.55 17.63 15.52 10.16

PP&E1 (net) 21.20 21.25 22.55 19.51 22.07

Total assets 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 30.88 31.58 28.84 29.50 30.64

Total liabilities 36.90 36.32 37.38 38.26 38.47

Allocated equity 37.10 38.41 37.74 38.57 47.50

Retained earnings 25.99 25.28 24.88 23.17 14.04

Total equity 63.10 63.68 62.62 61.74 61.53

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 86.79 86.27 85.48 85.22 83.99

Gross margin 13.21 13.73 14.52 14.78 16.01

 

Service and other income 1.36 2.56 2.90 3.29 8.42

Gross revenue 14.58 16.29 17.42 18.07 24.43

Expenses 

Wages 6.97 8.08 8.66 9.93 15.23

Depreciation 1.30 1.36 1.32 1.30 1.63

Interest 0.23 0.28 0.47 0.50 0.85

Other 4.59 5.21 5.39 5.81 9.91

Total expenses 13.09 14.92 15.84 17.53 27.62

 

Net operating margins 1.49 1.37 1.57 0.53 -3.18

Patronage income 3.31 2.86 2.05 1.72 0.54

Non-operating income 0.59 0.37 0.39 0.66 1.75

Net income before taxes 5.39 4.60 4.02 2.91 -0.89

Taxes 0.75 0.46 0.31 0.15 0.14

Net income 4.64 4.14 3.71 2.76 -1.04

Ratios Percent or number

Current 1.68 1.77 1.93 1.98 1.92

Debt-to-asset 0.37 0.36 0.37 0.38 0.38

Debt-to-equity 0.58 0.57 0.60 0.62 0.63

Retained-earnings-to-equity 41.20 39.69 39.74 37.53 22.81

Equity-to-assets 63.10 63.68 62.62 61.74 61.53

Adjusted-equity-to-assets 91.28 93.08 88.00 87.58 88.72

Return-on-assets 11.70 9.87 8.95 6.17 -0.06

Return-on-member-equity 26.04 21.83 19.58 12.95 -2.85

 

Extra value index +2 11.62 9.85 8.11 4.83 -4.24

Extra value index +5 8.88 7.06 5.47 2.20 -6.90

Extra value index +10 4.32 2.40 1.07 -2.18 -11.34

Appendix table 6: Common size analysis, by cooperative type and size, 2013, (continued)
46 Cooperative Statistics, 2013

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

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

$850 million $300 million $100 million $50 million 

Balance sheet Percent of total assets

Current assets 54.74 55.39 59.09 57.13

Other assets 2.16 4.00 1.26 3.84

Investments 19.08 19.17 16.03 15.76

PP&E1 (net) 24.02 21.44 23.62 23.28

Total assets 100.00 100.00 100.00 100.00

 

Current liabilities 34.13 36.34 40.61 42.21

Total liabilities 45.66 45.88 48.78 52.33

Allocated equity 25.75 22.83 28.03 25.06

Retained earnings 28.59 31.29 23.19 22.61

Total equity 54.34 54.12 51.22 47.67

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 91.26 89.87 88.93 91.28

Gross margin 8.74 10.13 11.07 8.72

 

Service and other income 2.28 2.97 2.36 2.49

Gross revenue 11.03 13.10 13.43 11.21

Expenses 

Wages 4.79 5.66 5.99 4.91

Depreciation 1.29 1.31 1.22 1.09

Interest 0.31 0.33 0.33 0.51

Other 3.29 4.26 4.37 3.94

Total expenses 9.68 11.55 11.91 10.45

 

Net operating margins 1.35 1.55 1.52 0.76

Patronage income 2.19 2.46 2.07 1.80

Non-operating income 0.78 0.51 0.44 0.35

Net income before taxes 4.32 4.52 4.03 2.90

Taxes 0.59 0.73 0.43 0.15

Net income 3.73 3.78 3.60 2.76

Ratios Percent or number

Current 1.60 1.52 1.46 1.35

Debt-to-asset 0.46 0.46 0.49 0.52

Debt-to-equity 0.84 0.85 0.95 1.10

Retained-earnings-to-equity 52.61 57.81 45.28 47.43

Equity-to-assets 54.34 54.12 51.22 47.67

Adjusted-equity-to-assets 82.50 85.01 86.25 82.49

Return-on-assets 10.85 11.34 11.25 9.12

Return-on-member-equity 33.91 38.81 33.12 29.43

 

Extra value index +2 11.13 11.73 13.41 10.63

Extra value index +5 8.66 9.18 10.82 8.16

Extra value index +10 4.53 4.93 6.51 4.04

 (continued next page)

Appendix table 6: Common size analysis, by cooperative type and size, 2013, (continued)
Cooperative Statistics, 2013 47

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 53.07 53.26 57.00 51.40

Other assets 10.85 4.42 3.51 9.00

Investments 12.90 17.16 16.04 8.47

PP&E1 (net) 23.18 25.16 23.45 31.14

Total assets 100.00 100.00 100.00 100.00

 

Current liabilities 34.30 32.04 30.84 29.90

Total liabilities 40.35 38.98 38.01 37.58

Allocated equity 26.91 31.59 35.21 42.55

Retained earnings 32.74 29.43 26.78 19.87

Total equity 59.65 61.02 61.99 62.42

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 89.86 88.76 86.97 85.88

Gross margin 10.14 11.24 13.03 14.12

 

Service and other income 6.22 5.40 4.83 11.19

Gross revenue 16.37 16.63 17.86 25.31

Expenses 

Wages 7.88 7.47 8.14 10.75

Depreciation 1.46 1.67 1.50 2.14

Interest 0.45 0.36 0.66 0.71

Other 5.19 5.45 5.83 7.58

Total expenses 14.99 14.94 16.12 21.18

 

Net operating margins 1.38 1.69 1.74 4.13

Patronage income 1.84 1.61 1.65 1.14

Non-operating income 0.71 0.18 0.45 0.48

Net income before taxes 3.92 3.48 3.83 5.75

Taxes 0.34 0.30 0.21 0.22

Net income 3.59 3.18 3.62 5.53

Ratios Percent or number

Current 1.55 1.66 1.85 1.72

Debt-to-asset 0.40 0.39 0.38 0.38

Debt-to-equity 0.68 0.64 0.61 0.60

Retained-earnings-to-equity 54.89 48.22 43.20 31.84

Equity-to-assets 59.65 61.02 61.99 62.42

Adjusted-equity-to-assets 90.79 89.79 89.64 89.04

Return-on-assets 8.07 7.72 9.96 7.68

Return-on-member-equity 24.57 20.22 22.83 15.44

 

Extra value index +2 7.72 7.08 9.31 7.08

Extra value index +5 5.00 4.39 6.62 4.40

Extra value index +10 0.46 -0.10 2.14 -0.05

 

Appendix table 6: Common size analysis, by cooperative type and size, 2013, (continued)
48 Cooperative Statistics, 2013

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

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

> $500 million $500 million $200 million $100 million $50 million

Balance sheet Percent of total assets

Current assets 60.39 60.04 64.59 66.97 66.58

Other assets 2.70 6.75 2.77 0.95 1.71

Investments 9.20 10.54 9.00 11.16 8.95

PP&E1 (net) 27.72 22.67 23.65 20.91 22.76

Total assets 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 39.52 45.20 49.82 50.44 52.11

Total liabilities 56.71 61.53 62.09 58.49 60.61

Allocated equity 17.68 16.88 16.53 23.33 20.53

Retained earnings 25.60 21.58 21.38 18.18 18.86

Total equity 43.29 38.47 37.91 41.51 39.39

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 93.98 94.40 93.13 92.33 93.16

Gross margin 6.02 5.60 6.87 7.67 6.84

 

Service and other income 2.85 2.97 2.68 2.97 2.71

Gross revenue 8.86 8.57 9.55 10.64 9.55

Expenses 

Wages 2.92 3.29 3.41 3.93 3.32

Depreciation 1.14 0.92 1.16 1.10 1.34

Interest 0.45 0.45 0.47 0.42 0.38

Other 3.28 2.98 2.82 3.61 2.84

Total expenses 7.78 7.63 7.86 9.05 7.88

 

Net operating margins 1.08 0.94 1.70 1.59 1.67

Patronage income 0.63 0.95 1.17 1.26 1.14

Non-operating income 0.23 0.09 0.19 0.13 0.09

Net income before taxes 1.94 1.98 3.06 2.98 2.89

Taxes 0.16 0.19 0.33 0.21 0.20

Net income 1.78 1.79 2.73 2.77 2.69

Ratios Percent or number

Current 1.53 1.33 1.30 1.33 1.28

Debt-to-asset 0.57 0.62 0.62 0.58 0.61

Debt-to-equity 1.31 1.60 1.64 1.41 1.54

Retained-earnings-to-equity 59.15 56.11 56.39 43.79 47.88

Equity-to-assets 43.29 38.47 37.91 41.51 39.39

Adjusted-equity-to-assets 71.57 70.19 75.55 83.76 82.24

Return-on-assets 7.90 6.70 8.85 7.88 7.47

Return-on-member-equity 33.27 29.34 41.52 27.52 29.93

 

Extra value index +2 7.88 7.23 11.73 10.79 10.71

Extra value index +5 5.73 5.12 9.47 8.28 8.24

Extra value index +10 2.16 1.61 5.69 4.09 4.13

 (continued next page)

Appendix table 6: Common size analysis, by cooperative type and size, 2013, (continued)
Cooperative Statistics, 2013 49

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 63.98 64.85 63.39 65.22 62.37

Other assets 5.85 2.32 2.14 6.66 11.39

Investments 8.95 7.34 11.92 7.63 2.34

PP&E1 (net) 21.22 25.49 22.55 20.48 23.90

Total assets 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 47.32 47.63 38.72 44.23 44.00

Total liabilities 56.37 53.07 47.59 52.13 58.04

Allocated equity 21.69 25.39 25.87 27.95 30.01

Retained earnings 21.94 21.53 26.54 19.92 11.95

Total equity 43.63 46.93 52.41 47.87 41.96

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 92.51 92.60 93.63 92.26 90.85

Gross margin 7.49 7.40 6.37 7.74 9.15

 

Service and other income 2.88 3.32 2.68 5.67 3.81

Gross revenue 10.37 10.72 9.05 13.41 12.95

Expenses 

Wages 3.91 4.19 4.07 5.17 6.71

Depreciation 1.45 1.33 1.03 1.28 1.25

Interest 0.52 0.41 0.39 0.49 0.63

Other 2.83 3.45 3.21 5.13 3.79

Total expenses 8.71 9.38 8.70 12.07 12.39

 

Net operating margins 1.67 1.34 0.35 1.35 0.57

Patronage income 0.99 0.70 0.94 0.61 0.08

Non-operating income 0.43 0.06 0.10 -0.21 0.54

Net income before taxes 3.09 2.11 1.39 1.75 1.19

Taxes 0.30 0.10 0.05 0.05 0.01

Net income 2.79 2.01 1.33 1.69 1.18

Ratios Percent or number

Current 1.35 1.36 1.64 1.47 1.42

Debt-to-asset 0.56 0.53 0.48 0.52 0.58

Debt-to-equity 1.29 1.13 0.91 1.09 1.38

Retained-earnings-to-equity 50.28 45.89 50.64 41.62 28.49

Equity-to-assets 43.63 46.93 52.41 47.87 41.96

Adjusted-equity-to-assets 82.82 89.62 85.54 85.84 74.94

Return-on-assets 8.23 6.94 5.28 5.23 3.53

Return-on-member-equity 29.26 21.77 15.31 14.16 7.64

 

Extra value index +2 9.91 8.25 4.26 4.88 2.16

Extra value index +5 7.43 5.56 1.69 2.31 -0.09

Extra value index +10 3.29 1.08 -2.58 -1.98 -3.83

Appendix table 6: Common size analysis, by cooperative type and size, 2013, (continued)
50 Cooperative Statistics, 2013

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

Cooperative sales size ≥$500 $200 $100 $50 $30 

million to $500 million to $200 million to $100 million to $50 million

Balance sheet Percent of total assets

Current assets 62.14 65.97 65.85 66.44 68.08

Other assets 2.54 1.96 3.41 1.18 1.49

Investments 8.87 6.78 6.97 6.63 4.31

PP&E1 (net) 26.45 25.29 23.76 25.75 26.12

Total assets 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 43.36 53.22 51.82 49.85 51.34

Total liabilities 59.18 64.24 61.61 60.13 62.58

Allocated equity 19.62 16.75 20.47 19.67 13.63

Retained earnings 21.20 19.01 17.92 20.20 23.78

Total equity 40.82 35.76 38.39 39.87 37.42

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 93.52 95.01 95.47 95.29 95.96

Gross margin 6.48 4.99 4.53 4.71 4.04

 

Service and other income 1.49 1.92 2.04 1.99 1.85

Gross revenue 7.97 6.90 6.57 6.70 5.90

Expenses 

Wages 3.03 2.12 2.12 1.99 1.89

Depreciation 0.86 0.88 0.78 0.89 0.94

Interest 0.44 0.35 0.28 0.38 0.36

Other 2.53 2.22 1.88 2.05 1.98

Total expenses 6.86 5.57 5.06 5.32 5.16

 

Net operating margins 1.11 1.33 1.52 1.38 0.73

Patronage income 0.55 0.56 0.46 0.44 0.27

Non-operating income 0.01 0.11 0.12 0.11 0.18

Net income before taxes 1.68 2.00 2.09 1.93 1.19

Taxes 0.17 0.11 0.15 0.11 0.15

Net income 1.51 1.89 1.95 1.82 1.03

Ratios Percent or number

Current 1.43 1.24 1.27 1.33 1.33

Debt-to-asset 0.59 0.64 0.62 0.60 0.63

Debt-to-equity 1.45 1.80 1.61 1.51 1.67

Retained-earnings-to-equity 51.94 53.16 46.67 50.67 63.56

Equity-to-assets 40.82 35.76 38.39 39.87 37.42

Adjusted-equity-to-assets 72.08 76.46 79.67 79.51 76.90

Return-on-assets 7.78 6.79 6.94 7.06 4.82

Return-on-member-equity 28.20 32.47 27.79 28.17 23.59

 

Extra value index +2 7.91 9.66 9.75 9.00 4.63

Extra value index +5 5.75 7.36 7.36 6.61 2.32

Extra value index +10 2.14 3.54 3.38 2.64 -1.53

Appendix table 6: Common size analysis, by cooperative type and size, 2013, (continued)
Cooperative Statistics, 2013 51

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 67.25 60.65 68.65 69.89 61.48

Other assets 2.02 2.97 0.23 6.15 5.71

Investments 5.56 4.04 7.01 4.81 6.81

PP&E1 (net) 25.16 32.34 24.12 19.15 26.01

Total assets 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 51.22 43.99 42.03 44.37 44.51

Total liabilities 61.05 56.18 50.30 53.20 58.68

Allocated equity 18.76 19.25 34.02 21.53 26.69

Retained earnings 20.19 24.57 15.68 25.26 14.62

Total equity 38.95 43.82 49.70 46.80 41.32

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 94.82 95.59 92.64 94.61 90.62

Gross margin 5.18 4.41 7.36 5.39 9.38

 

Service and other income 2.53 2.63 2.18 2.66 7.02

Gross revenue 7.71 7.04 9.54 8.05 16.40

Expenses 

Wages 2.26 2.30 2.73 3.15 5.92

Depreciation 1.01 0.89 0.91 0.86 1.80

Interest 0.43 0.67 0.33 0.30 0.74

Other 2.27 2.10 3.69 2.65 7.92

Total expenses 5.97 5.96 7.66 6.97 16.38

 

Net operating margins 1.75 1.08 1.87 1.09 0.02

Patronage income 0.48 0.19 0.45 0.19 0.29

Non-operating income 0.33 0.16 0.75 0.04 0.03

Net income before taxes 2.55 1.42 3.07 1.32 0.34

Taxes 0.22 0.07 0.06 0.14 0.02

Net income 2.33 1.35 3.01 1.19 0.33

Ratios Percent or number

Current 1.31 1.38 1.63 1.58 1.38

Debt-to-asset 0.61 0.56 0.50 0.53 0.59

Debt-to-equity 1.57 1.28 1.01 1.14 1.42

Retained-earnings-to-equity 51.84 56.07 31.54 53.99 35.40

Equity-to-assets 38.95 43.82 49.70 46.80 41.32

Adjusted-equity-to-assets 79.86 78.24 85.73 84.11 74.46

Return-on-assets 7.18 6.10 8.82 4.39 2.38

Return-on-member-equity 29.94 20.34 22.94 14.85 2.67

 

Extra value index +2 9.45 4.97 11.25 3.58 -0.64

Extra value index +5 7.06 2.63 8.68 1.05 -2.87

Extra value index +10 3.07 -1.29 4.39 -3.15 -6.59

Appendix table 6: Common size analysis, by cooperative type and size, 2013, (continued)
52 Cooperative Statistics, 2013

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 59.66 65.76 57.35 46.66 68.99 60.05

Other assets 8.89 9.09 0.03 0.48 0.88 14.00

Investments 0.01 0.00 0.00 0.10 1.20 0.37

PP&E1 (net) 31.44 25.15 42.62 52.76 28.94 25.58

Total assets 100.00 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 45.42 58.32 45.14 35.44 30.87 34.37

Total liabilities 58.09 63.93 59.35 60.49 43.70 43.84

Allocated equity 30.43 17.35 28.66 37.98 20.20 26.86

Retained earnings 11.48 18.72 11.99 1.53 36.10 29.30

Total equity 41.91 36.07 40.65 39.51 56.30 56.16

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 75.34 80.94 82.13 87.13 90.96 79.43

Gross margin 24.66 19.06 17.87 12.87 9.04 20.57

 

Service and other income 3.08 0.98 0.73 3.21 0.00 3.00

Gross revenue 27.74 20.04 18.60 16.09 9.04 23.58

Expenses 

Wages 12.85 2.70 8.39 6.94 5.89 8.91

Depreciation 1.63 0.50 0.64 0.89 1.08 1.39

Interest 0.63 0.19 0.35 0.47 0.38 0.21

Other 7.80 13.39 8.57 7.73 2.55 11.59

Total expenses 22.90 16.78 17.95 16.03 9.90 22.10

 

Net operating margins 4.83 3.26 0.65 0.05 -0.86 1.48

Patronage income 0.00 0.00 0.02 0.09 0.03 0.17

Non-operating income 0.10 0.07 0.08 0.00 0.41 0.12

Net income before taxes 4.93 3.32 0.75 0.14 -0.43 1.76

Taxes 0.02 0.03 -0.07 0.00 -0.16 0.07

Net income 4.92 3.30 0.82 0.14 -0.27 1.70

Ratios Percent or number

Current 1.31 1.13 1.27 1.32 2.23 1.75

Debt-to-asset 0.58 0.64 0.59 0.60 0.44 0.44

Debt-to-equity 1.39 1.77 1.46 1.53 0.78 0.78

Retained-earnings-to-equity 27.39 51.90 29.49 3.87 64.12 52.17

Equity-to-assets 41.91 36.07 40.65 39.51 56.30 56.16

Adjusted-equity-to-assets 76.78 86.53 74.10 61.20 81.44 85.56

Return-on-assets 13.49 19.61 6.73 1.51 -0.17 3.96

Return-on-member-equity 39.21 106.04 17.54 0.92 -4.57 12.67

 

Extra value index +2 19.88 41.91 7.25 -1.04 -3.44 2.98

Extra value index +5 17.58 39.31 5.03 -2.88 -5.88 0.41

Extra value index +10 13.74 34.98 1.33 -5.94 -9.95 -3.87

 (continued next page)

Appendix table 6: Common size analysis, by cooperative type and size, 2013, (continued)
Cooperative Statistics, 2013 53

Type of cooperative Livestock marketing

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

million $110 million to $50 million to $10 million to $5 million $1 million 

Balance sheet Percent of total assets

Current assets 89.30 91.46 78.79 54.28 56.37 62.20

Other assets 0.95 1.76 8.28 9.66 10.49 13.80

Investments 3.77 1.23 0.00 0.00 2.61 0.00

PP&E1 (net) 5.99 5.54 12.93 36.05 30.52 24.01

Total assets 100.00 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 73.61 74.34 70.88 35.37 51.98 54.35

Total liabilities 77.75 81.11 79.09 38.95 57.88 63.71

Allocated equity 9.55 13.94 48.83 15.35 28.67 28.18

Retained earnings 12.69 4.96 -27.92 45.69 13.45 8.11

Total equity 22.25 18.89 20.91 61.05 42.12 36.29

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 99.18 96.33 97.83 94.63 92.94 88.98

Gross margin 0.82 3.67 2.17 5.37 7.06 11.02

 

Service and other income 1.15 2.22 3.55 1.36 3.48 9.76

Gross revenue 1.97 5.90 5.72 6.73 10.53 20.79

Expenses 

Wages 1.08 1.33 2.69 2.78 3.31 11.16

Depreciation 0.06 0.22 0.55 0.75 0.76 1.04

Interest 0.11 0.36 0.59 0.16 0.36 0.37

Other 0.57 1.33 1.87 1.62 5.25 10.56

Total expenses 1.82 3.25 5.70 5.30 9.68 23.13

 

Net operating margins 0.15 2.65 0.02 1.43 0.85 -2.35

Patronage income 0.12 0.01 0.00 0.00 0.00 0.00

Non-operating income 0.04 0.08 0.18 0.00 0.01 0.95

Net income before taxes 0.30 2.74 0.20 1.43 0.87 -1.39

Taxes 0.01 0.01 0.02 0.31 0.00 0.13

Net income 0.29 2.73 0.19 1.13 0.87 -1.52

Ratios Percent or number

Current 1.21 1.23 1.11 1.53 1.08 1.14

Debt-to-asset 0.78 0.81 0.79 0.39 0.58 0.64

Debt-to-equity 3.50 4.29 3.78 0.64 1.37 1.76

Retained-earnings-to-equity 57.06 26.24 -133.54 74.85 31.94 22.35

Equity-to-assets 22.25 18.89 20.91 61.05 42.12 36.29

Adjusted-equity-to-assets 84.29 73.64 71.81 94.46 87.71 79.51

Return-on-assets 4.05 7.54 2.30 13.17 5.50 -1.14

Return-on-member-equity 29.83 47.62 1.10 60.87 13.51 -6.03

 

Extra value index +2 8.62 23.97 -0.01 12.02 5.80 -5.78

Extra value index +5 6.09 21.76 -2.16 9.19 3.17 -8.16

Extra value index +10 1.88 18.07 -5.75 4.47 -1.22 -12.14

 

Appendix table 6: Common size analysis, by cooperative type and size, 2013, (continued)
54 Cooperative Statistics, 2013

Type of cooperative Dry bean and Nut marketing Biofuels

 pea marketing

Cooperative sales size ≥ $10 < $10 

All sizes million million All sizes

Balance sheet Percent of total assets

Current assets 79.13 52.89 39.43 40.59

Other assets 0.58 2.50 2.14 13.66

Investments 3.15 1.11 0.33 0.86

PP&E1 (net) 17.14 43.50 58.09 44.89

Total assets 100.00 100.00 100.00 100.00

 

Current liabilities 67.51 29.88 23.04 19.29

Total liabilities 74.10 65.31 62.26 27.75

Allocated equity 21.70 17.34 33.62 53.72

Retained earnings 4.20 17.35 4.12 18.53

Total equity 25.90 34.69 37.74 72.25

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 89.62 82.27 68.53 87.12

Gross margin 10.38 17.73 31.47 12.88

 

Service and other income 1.17 0.21 43.66 0.00

Gross revenue 11.55 17.94 75.12 12.88

Expenses 

Wages 3.78 2.45 21.33 1.36

Depreciation 1.26 0.69 12.09 2.90

Interest 0.49 0.06 2.32 0.20

Other 2.78 11.13 22.32 5.96

Total expenses 8.31 14.33 58.06 10.41

 

Net operating margins 3.24 3.61 17.06 2.47

Patronage income 0.55 0.02 0.02 0.00

Non-operating income 0.02 0.00 0.41 1.47

Net income before taxes 3.81 3.63 17.49 3.94

Taxes 0.11 0.13 0.45 0.18

Net income 3.70 3.50 17.04 3.76

Ratios Percent or number

Current 1.17 1.77 1.71 2.10

Debt-to-asset 0.74 0.65 0.62 0.28

Debt-to-equity 2.86 1.88 1.65 0.38

Retained-earnings-to-equity 16.21 50.02 10.91 25.65

Equity-to-assets 25.90 34.69 37.74 72.25

Adjusted-equity-to-assets 79.69 49.47 49.04 89.52

Return-on-assets 6.57 11.33 12.76 10.31

Return-on-member-equity 26.10 61.93 32.64 17.42

 

Extra value index +2 15.37 14.04 13.00 9.29

Extra value index +5 12.98 12.55 11.53 6.60

Extra value index +10 9.00 10.08 9.07 2.12

 (continued next page)

Appendix table 6: Common size analysis, by cooperative type and size, 2013, (continued)
Cooperative Statistics, 2013 55

Type of cooperative Rice marketing Tobacco Wool marketing

 marketing

Cooperative sales size ≥ $50 < $20

million million All sizes All sizes 

Balance sheet Percent of total assets

Current assets 62.65 61.71 46.10 45.16

Other assets 5.67 18.87 47.27 36.76

Investments 1.53 0.61 0.00 0.42

PP&E1 (net) 30.15 18.81 6.63 17.66

Total assets 100.00 100.00 100.00 100.00

 

Current liabilities 27.46 25.29 15.43 21.23

Total liabilities 41.10 34.36 22.96 40.13

Allocated equity 34.15 45.15 50.62 41.53

Retained earnings 24.75 20.50 26.41 18.34

Total equity 58.90 65.64 77.04 59.87

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 77.92 95.65 90.23 79.43

Gross margin 22.08 4.35 9.77 20.57

 

Service and other income 1.00 4.15 0.46 3.60

Gross revenue 23.08 8.49 10.23 24.17

Expenses 

Wages 9.64 2.42 3.48 7.63

Depreciation 1.72 0.30 0.38 0.89

Interest 0.53 0.06 0.72 0.04

Other 10.48 5.05 3.44 15.76

Total expenses 22.36 7.83 8.02 24.31

 

Net operating margins 0.71 0.66 2.21 -0.14

Patronage income 0.05 0.02 0.00 0.00

Non-operating income 4.38 0.04 1.67 0.01

Net income before taxes 5.14 0.72 3.89 -0.13

Taxes 1.73 -0.19 0.04 0.00

Net income 3.41 0.91 3.85 -0.13

Ratios Percent or number

Current 2.28 2.44 2.99 2.13

Debt-to-asset 0.41 0.34 0.23 0.40

Debt-to-equity 0.70 0.52 0.30 0.67

Retained-earnings-to-equity 42.02 31.22 34.29 30.64

Equity-to-assets 58.90 65.64 77.04 59.87

Adjusted-equity-to-assets 81.19 87.87 91.09 76.01

Return-on-assets 12.52 5.49 3.10 -0.07

Return-on-member-equity 22.04 14.15 5.12 -0.23

 

Extra value index +2 8.28 6.29 0.71 -2.08

Extra value index +5 5.84 3.65 -2.02 -4.36

Extra value index +10 1.78 -0.74 -6.57 -8.16

Appendix table 6: Common size analysis, by cooperative type and size, 2013, (continued)
56 Cooperative Statistics, 2013

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 46.67 18.74 42.84 61.85

Other assets 12.97 61.21 0.75 15.12

Investments 0.83 0.30 5.04 0.00

PP&E1 (net) 39.53 19.75 51.37 23.03

Total assets 100.00 100.00 100.00 100.00

 

Current liabilities 38.51 15.31 33.87 48.91

Total liabilities 57.63 26.95 49.22 59.28

Allocated equity 41.09 12.29 46.45 26.24

Retained earnings 1.28 60.76 4.33 14.48

Total equity 42.37 73.05 50.78 40.72

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 82.37 79.28 76.79 91.42

Gross margin 17.63 20.72 23.21 8.58

 

Service and other income 0.86 0.01 0.31 5.17

Gross revenue 18.49 20.73 23.51 13.74

Expenses 

Wages 6.00 9.08 5.90 0.73

Depreciation 1.67 2.12 1.72 0.11

Interest 0.38 0.37 0.92 0.05

Other 8.42 7.75 13.05 11.49

Total expenses 16.48 19.31 21.59 12.37

 

Net operating margins 2.01 1.42 1.92 1.37

Patronage income 0.01 0.05 0.12 0.00

Non-operating income -0.31 12.98 0.28 0.00

Net income before taxes 1.71 14.46 2.32 1.37

Taxes 0.13 1.35 0.15 0.00

Net income 1.58 13.10 2.17 1.37

Ratios Percent or number

Current 1.21 1.22 1.26 1.26

Debt-to-asset 0.58 0.27 0.49 0.59

Debt-to-equity 1.36 0.37 0.97 1.46

Retained-earnings-to-equity 3.02 83.17 8.53 35.56

Equity-to-assets 42.37 73.05 50.78 40.72

Adjusted-equity-to-assets 68.90 86.26 76.78 79.71

Return-on-assets 5.08 13.84 5.63 30.05

Return-on-member-equity 9.33 99.56 8.11 110.74

 

Extra value index +2 4.46 12.22 3.71 54.83

Extra value index +5 2.39 9.64 1.41 52.44

Extra value index +10 -1.05 5.32 -2.43 48.45

 (continued next page)

Appendix table 6: Common size analysis, by cooperative type and size, 2013, (continued)
Cooperative Statistics, 2013 57

Type of cooperative Rice drier Transportation Storage 

Cooperative sales size ≥ $1 < $ 1

All sizes million million All sizes

Balance sheet Percent of total assets

Current assets 36.71 44.84 48.00 32.51

Other assets 6.72 1.57 0.95 0.02

Investments 0.18 2.01 2.18 0.00

PP&E1 (net) 56.39 51.58 48.87 67.47

Total assets 100.00 100.00 100.00 100.00

 

Current liabilities 21.91 29.98 10.74 10.11

Total liabilities 35.30 40.61 11.77 44.60

Allocated equity 59.07 44.04 52.57 39.56

Retained earnings 5.63 15.35 35.66 15.84

Total equity 64.70 59.39 88.23 55.40

Total equity and liabilities 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

Gross revenue 100.00 100.00 100.00 100.00

Expenses 

Wages 23.35 31.10 34.87 14.66

Depreciation 8.53 6.79 12.09 11.25

Interest 1.25 0.26 0.20 0.00

Other 35.78 59.31 48.26 38.66

Total expenses 68.92 97.47 95.42 64.58

 

Net operating margins 31.08 2.53 4.58 35.42

Patronage income 0.15 0.42 0.33 0.00

Non-operating income 0.17 0.18 1.39 0.18

Net income before taxes 31.40 3.12 6.31 35.60

Taxes -0.11 0.23 0.00 1.54

Net income 31.52 2.89 6.31 34.06

Ratios Percent or number

Current 1.68 1.50 4.47 3.21

Debt-to-asset 0.35 0.41 0.12 0.45

Debt-to-equity 0.55 0.68 0.13 0.80

Retained-earnings-to-equity 8.70 25.85 40.42 28.60

Equity-to-assets 64.70 59.39 88.23 55.40

Adjusted-equity-to-assets 82.86 84.82 98.84 61.64

Return-on-assets 20.18 8.30 4.80 14.18

Return-on-member-equity 32.97 16.11 8.84 34.30

 

Extra value index +2 22.81 7.94 2.66 13.51

Extra value index +5 20.32 5.40 -0.31 11.66

Extra value index +10 16.18 1.16 -5.25 8.57

Appendix table 6: Common size analysis, by cooperative type and size, 2013, (continued)
58 Cooperative Statistics, 2013

Type of cooperative Hulling Dairy Livestock Fresh Fruit & Farmer 

 Service Service Veg. Service Markets

Cooperative sales size 

All sizes All sizes All sizes All sizes All sizes

Balance sheet Percent of total assets

Current assets 35.90 96.02 16.93 57.03 24.76

Other assets 2.82 3.98 0.00 6.05 6.76

Investments 0.01 0.00 0.00 8.46 0.03

PP&E1 (net) 61.27 0.00 83.06 28.46 68.45

Total assets 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 22.19 24.82 -2.05 34.66 17.68

Total liabilities 44.92 24.82 35.71 54.74 42.93

Allocated equity 48.09 70.60 64.27 32.03 13.93

Retained earnings 6.98 4.57 0.02 13.24 43.14

Total equity 55.08 75.18 64.29 45.26 57.07

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 11.76 34.01 43.46 34.62 32.62

Depreciation 5.56 0.00 1.89 3.94 5.66

Interest 1.13 0.22 1.23 0.59 3.68

Other 35.08 61.79 75.82 51.88 55.33

Total expenses 53.51 96.03 122.40 91.03 97.29

 

Net operating margins 46.49 3.97 -22.40 8.97 2.71

Patronage income 0.00 0.00 0.00 0.09 0.73

Non-operating income 1.04 0.41 0.00 1.89 0.47

Net income before taxes 47.52 4.38 -22.40 10.95 3.92

Taxes 0.10 3.86 0.45 0.02 0.42

Net income 47.43 0.52 -22.85 10.92 3.49

Ratios Percent or number

Current 1.62 3.87 -8.24 1.65 1.40

Debt-to-asset 0.45 0.25 0.36 0.55 0.43

Debt-to-equity 0.82 0.33 0.56 1.21 0.75

Retained-earnings-to-equity 12.68 6.09 0.03 29.24 75.59

Equity-to-assets 55.08 75.18 64.29 45.26 57.07

Adjusted-equity-to-assets 70.78 100.00 63.00 69.27 69.33

Return-on-assets 34.09 1.08 -3.44 10.55 4.84

Return-on-member-equity 69.09 0.17 -5.77 31.20 15.98

 

Extra value index +2 40.88 -2.42 -5.26 13.51 0.92

Extra value index +5 38.76 -5.42 -7.15 11.43 -1.16

Extra value index +10 35.22 -10.42 -10.30 7.96 -4.63

Appendix table 6: Common size analysis, by cooperative type and size, 2013, (continued)
Cooperative Statistics, 2013 59

 

 Net operating From other

Year margins cooperatives2 Total

 

 Billion dollars

2004 1.96 0.33 2.29

2005 1.99 0.40 2.39

2006 2.42 0.53 2.94

2007 3.24 0.66 3.90

2008 4.00 0.86 4.86

2009 3.28 0.90 4.18

2010 3.59 0.67 4.26

2011 4.76 0.61 5.37

2012 5.20 0.92 6.13

2013 4.95 1.22 6.17

 

 

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. 

Appendix Table 7: Cooperative net income before taxes, 2004-20131
60 Cooperative Statistics, 2013

APPENDIX FIGURES

Supply 39.8%

Livestock & poultry 4.7%

Grain & oilseed 22.4%

Fruit & vegetable 6.6%

Cotton ginning 6.8%

Dairy 5.8%

Service 5.5%

Percentages are based on a total of 2,186 cooperatives. 1 Includes dry bean and pea, nut, wool and mohair, tobacco, rice, sugar, fishery, and other product marketing cooperatives.

Other marketing 8.3% 1

Appendix Figure 1: Distribution of Cooperatives by Type, 2013
Cooperative Statistics, 2013 61

0

1

2

3

4

5

6

7

1979 1981 1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009 2011 2013

Memberships

Farms

Million

Other marketing 5.7%

Supply 41.6%

Service 0.9%

Cotton 3.2%

Fruit & vegetable 10.4%

1 Livestock & poultry 1.7%

Sugar 5.0%

Grain & oilseed 17.3%

Dairy 15.4%

Rice 1.8%

Percentages are based on a total of 136,000 full-time employees

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

Appendix Figure 2: U.S. Farms and Cooperative Memberships, 1979-2013

Appendix Figure 3: Distribution of Full-Time Employees by Cooperative Type, 2013
62 Cooperative Statistics, 2013

0

25

50

75

100

125

150

175

200

225

250

1979 1981 1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009 2011 2013

Billion dollars

Gross1

Net2

2 Excludes inter-cooperative business

1 Includes inter-cooperative business

0

25

50

75

100

125

150

175

200

225

1979 1982 1985 1988 1991 1994 1997 2000 2003 2006 2009 2012

1

Total includes value of related services and other income.

Billion dollars

Total

1

Supply

Marketing

Appendix Figure 4: Cooperatives’ Gross and Net Business Volumes, 1979-2013

Appendix Figure 5: Cooperatives’ Net Business Volume, 1979-2013
Cooperative Statistics, 2013 63

0

1

2

3

4

5

6

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

1 Includes other cooperatives and CoBank.

Billion dollars

Investments

Refunds

-10 0 10 20 30 40 50 60 70

Supply

Grain and oilseed

Fruit and vegetable

Dairy

Sugar

Rice

Cotton ginning

Service

Livestock and poultry

Cotton

Percent of total

Percentage based on net income before taxes of $6.2 billion.

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

Other marketing1

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

 Refunds Received From Other Cooperatives,1 2003-2013

Appendix Figure 7: Distribution of Net Income Before Taxes, 2013
64 Cooperative Statistics, 2013

0 10 20 30 40 50 60 70

Cotton

Supply

Livestock & poultry

Grain & oilseed

Cotton ginning

Dairy

Fruit & vegetable

Service

Sugar

Rice

Percent of total

Percentage based on before taxes losses of $212.8 million.

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

Other marketing

1

Appendix Figure 8: Distribution of Losses by Cooperative Type, 2013
Cooperative Statistics, 2013 65