COOPERATIVE 

STATISTICS

2010

United States

Department of

Agriculture

Service Report 71

Cooperative Statistics, 2010 i

ABSTRACT

A survey of 2,310 U.S. farmer, rancher, and 

fishery cooperatives ending their business year 

during calendar year 2010 showed a net business 

volume of $146.1 billion, with a net income of $4.0 

billion. These cooperatives had assets totaling $65 

billion, $39 billion of liabilities, and $26 billion in 

equity. Cooperatives were a major employer in rural 

areas, with 129,000 full-time workers and 54,000 

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, 2010

Jacqueline E. Penn and E. Eldon Eversull

Rural Development

U.S. Department of Agriculture

STOP 3256

1400 Independence Ave., S.W.

Washington, DC 20250 3256

Service Report 71

November 2011

The U.S. Department of Agriculture (USDA) prohibits discrimination in all of its programs and activities on the basis of race, color, national origin, age, disability, and where applicable, sex (including gender 

identity and expression), marital status, familial status, parental status, religion, sexual orientation, political 

beliefs, genetic information, reprisal, or because all or part of an individual’s income is derived from any 

public assistance program. (Not all prohibited bases apply to all programs.) Persons with disabilities who 

require alternative means for communication of program information (Braille, large print, audiotape, etc.) 

should contact USDA’s TARGET Center at (202) 720-2600 (voice and TDD).

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

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

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

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

employer. 
ii Cooperative Statistics, 2010

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 2010. 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 2010 were compiled on a State and 

national basis. The information was collected from 

individual farmer, rancher, and fishery cooperatives 

by a mail survey of all organizations identified by 

USDA Rural Development’s Cooperative Programs 

(CP) as farmer, rancher, or fishery cooperatives. Information was requested for the cooperatives’ 2010 

business year. 

CP conducts an annual census to gain accurate 

information for assistance purposes. Information 

obtained from individual cooperatives is combined 

with data from other cooperatives to maintain confidentiality. 

Statistics for all cooperatives were derived by 

estimating data for non-respondents and combining 

this information with respondent data. Data from 

respondents and other sources accounted for 84 percent of the total gross sales of farmer, rancher, and 

fishery cooperatives in 2010. 

CP depends on the cooperative community’s 

response to its annual survey to develop a detailed 

and comprehensive set of statistics on cooperatives. 

The time and effort taken to provide information 

and the timeliness with which it is furnished are 

greatly appreciated.
Cooperative Statistics, 2010 iii

ABSTRACTi

PREFACE ii

HIGHLIGHTS iv

COOPERATIVE STATISTICS, 20101

I–DEFINITION OF A COOPERATIVE1

Classification of Cooperatives1

Organizational Membership Structures1

II–2010 STATISTICS3

Number of Cooperatives3

Memberships4

Employees 11

Business Size 11

Business Volume 12

Balance Sheet 14

Income Statement 17

Selected Financial Ratios 24

APPENDIX TABLES 27

APPENDIX FIGURES 54

CONTENTS
iv Cooperative Statistics, 2010

 

 2010 2009 Change

Number of cooperatives 2,310 2,390 -80

Memberships (millions) 2.2 2.2 0.00

 

Gross business volume (billion $) 170.1 169.3 0.74

Net business volume (billion $) 146.1 146.9 -0.80

 

Net income before taxes (billion $) 4.3 4.1 0.16

Total assets (billion $) 65.0 60.8 4.22

Net worth (billion $) 25.9 23.8 2.11

 

Full-time employees (thousand) 129.3 122.2 7.10

Part-time and seasonal employees (thousand) 54.3 57.6 -3.29

HIGHLIGHTS

Table A–Comparison of 2010 and 2009 Cooperative Statistics

There are 2,310 U.S. farmer, rancher, and fishery 

cooperatives, according to the 2010 survey of marketing, supply, and service cooperatives by USDA 

Rural Development’s Cooperative Programs (CP). 

This was the second highest sales and income year 

for these cooperatives, trailing only the records set 

in 2008. While sales and income were the second 

highest, there was little change from levels achieved 

in 2009. The year saw significantly higher prices 

for dairy products, cotton, and livestock and falling 

prices for food grains and oilseeds. Farm fuel prices 

were up 25 percent while most other farm supplies 

had price decreases. 

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

was $170.1 billion; net business (excludes intercooperative business) was $146.1 billion. 

o Total net income was $4.0 billion, which includes inter-cooperative dividends and refunds 

of $690.0 million.

o Cooperative memberships were 2.2 million, up 

4,000 from 2009.

o Cooperatives employed 129,000 full-time and 

54,000 part-time and seasonal employees. Fulltime employee numbers were up 7,100 from 

2009, while part-time and seasonal employee 

numbers were down by 3,300.

o Gross value of products marketed by cooperatives was $101 billion, with a net value (after 

eliminating duplication from inter-cooperative 

business) of $94 billion. Both gross and net 

marketings were virtually unchanged from last 

year. Grain and oilseed marketings were down 

$3 billion while dairy product marketings increased $2 billion.

o Gross value of supplies handled by cooperatives 

was $64 billion, with a net value of $47 billion. 

Gross supply sales were up $1 billion primarily due to increasing energy prices, but fertilizer 

sales fell $1 billion.

o Receipts for services related to marketing farm 

products and handling supplies, plus other income, totaled $4.0 billion.

o Cooperatives had $65 billion in combined assets, second highest to the record $70 billion 

in 2008. Total assets were $5 billion more than 

2009, with most of the increase in current assets. 

Net assets, after eliminating inter-cooperative 

investments, were $61 billion. Inter-cooperative 

investments included those in CoBank. 

o Total liabilities increased $2 billion to $39 billion.

o Net worth, or member and patron equity, was 

$26 billion. Member and patron equity financed 

40 percent of total assets, up from 39 percent in 

2009.
Cooperative Statistics, 2010 1

Cooperative Statistics, 2010

Jacqueline E. Penn and E. Eldon Eversull, Rural Development

I. COOPERATIVE DEFINITION

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

(1) Membership is limited to persons producing 

agricultural and aquacultural products and to associations of such producers; 

(2) Cooperative members are limited to one vote 

regardless of the amount of stock or membership 

capital owned; or the cooperative does not pay dividends on stock or membership capital in excess of 8 

percent a year or the legal rate in the State, whichever is higher;

(3) Business conducted with non-members may 

not exceed the value of business conducted with 

members; 

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

the basis of patronage.

These criteria may result in larger or smaller 

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

differences in lists and classifications in State and 

Federal data.

Classification of Cooperatives

CP classifies each cooperative under one of the 

following major functions: marketing, supply, or 

service. For example: fertilizer cooperatives are 

classified as supply cooperatives; wool pools are 

classified as marketing cooperatives; and transportation cooperatives are classified as service cooperatives.

Marketing cooperatives derive most of their total 

dollar volume from the sale of members’ products. 

These cooperatives are further classified into 1 of 13 

commodities or commodity groups, depending upon 

which accounts for most of its business volume. CP 

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

changes significantly. 

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

machinery and equipment, and building materials. 

Many also handle farm, ranch, and home items, 

such as heating oil, lawn and garden supplies and 

equipment, and food. 

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

ranchers, or cooperatives, such as trucking, storing, 

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 their business volume.

Prior year data has been revised in this report, 

something that has not occurred in the past. Some 

revisions corrected errors, others are due to new 

information. For instance, 64 cooperatives that had 

not responded in 2009 included with their surveys 

annual reports for 2010 that also had 2009 data; and 

in 2009, 74 non-respondent cooperatives included 

annual reports with 2008 information.

In 2010, cotton-ginning cooperatives were reclassified as marketing cooperatives instead of service 

cooperatives because many had marketing sales that 

exceeded service income and almost all had other 

marketings or supply sales. Artificial-insemination 

cooperatives were also reclassified from service 

cooperatives to supply cooperatives as their supply 

sales generally exceeded their service income. Both 

of these cooperatives were also moved to their new 

classifications in prior year data.

Organizational Membership Structures

CP further classifies marketing, supply, and service 

cooperatives into three organizational structures according to membership. The membership structures 

used are centralized, federated, and mixed.
2 Cooperative Statistics, 2010

0

500

1,000

1,500

2,000

2,500

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Marketing

Supply

Service

Number

Figure 1–Cooperatives in the United States, 

2001-2010

Figure 2–Distribution of Memberships, by Type of 

Cooperative, 2010

Percentages are based on 2.2 million total memberships. 1

Includes dry bean and pea, wool and mohair, rice, sugar, fishery, and other product marketing cooperatives .

Service

1.7%

Other marketing

1

2.3%

Fruit & vegetable

1.0%

Supply

65.6%

Grain & oilseed

18.5%

Dairy

2.0%

Livestock & poultry

3.4%

Cotton ginning

1.1%

Cotton

1.3%

Tobacco

2.9%

Centralized

Of the 2,310 cooperatives in 2010, 

2,252 were centralized organizations, 

mostly locals with individual farmer, 

rancher, or fishery members. Centralized cooperatives usually serve a local 

area or community, county, or several 

counties. Most usually perform a limited number of initial marketing functions. Most supply sales are at the retail 

level. A few centralized cooperatives, 

principally regionals, operate over 

multi-state areas and provide more 

vertically integrated services, such as 

processing products or manufacturing 

feed.

Bargaining associations also have 

centralized organizational structures. 

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

processors, and other buyers and sellers over price, 

quantity, grade, terms of sale, and other factors 

involved in marketing products. Only a few bargain 

to purchase supplies. While the primary function 

of such an association is to bring buyers and sellers 

together to contract for the sale of members’ products, many bargaining associations now perform 

additional functions.

For example, dairy bargaining associations at 

one time only negotiated price. Now, many perform 

additional functions, such as physically handling 

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

marketing cooperatives, represent their members at 

Federal or State milk marketing order hearings.

Federated

The 38 federated cooperatives—

two or more member associations 

organized to market products, purchase production supplies, or perform 

bargaining functions—often operate at points quite distant from their 

headquarters. Members are usually 

local cooperatives, although some are 

interregional associations with regional 

cooperative members.

Mixed

The 20 mixed cooperatives have 

individual farmer, rancher, or fishery 

members and autonomous cooperative 

members, a combination of centralized 

and federated structures. They serve 

large geographic areas with members 

in many States and provide a variety of 

integrated services.
Cooperative Statistics, 2010 3

Table 1–Number of cooperatives and memberships, by major business activity, 2010

Major business 

 activity Cooperatives Memberships

Number Thousands

Bean and pea, dry edible 5 1.8

Cotton 12 28.2

Cotton-ginning 157 25.5

Dairy 138 44.2

Fish 37 5.4

Fruit and vegetable 138 22.2

Grain and oilseed1 519 414.2

Livestock 59 75.4

Nut 17 15.2

Poultry2 10 0.5

Rice 12 11.6

Sugar3 27 9.4

Tobacco 8 65.0

Wool and mohair 54 9.6

Other marketing4 25 6.4

Total marketing 1,218 734.5

Artificial-insemination	 13	 59.4

Total supply 975 1,470.7

 

Other services5 94 37.0

Rice-driers 4 0.2

Storage 6 0.1

Transportation 13 0.4

Total Service 117 37.8

 

Total 2,310 2,242.9

 1 Cooperatives primarily handling grains and oilseeds, 

excluding cottonseed. 

2

 Cooperatives primarily handling eggs, turkeys, ratite, 

squab, and related products.

3

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

4 Cooperatives primarily handling forest products, hay, 

hops, seed marketed for growers, nursery stock, 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.

II. 2010 STATISTICS 

Cooperatives’ total net business volume was 

$146.1 billion in 2010, while net income was $4.0 

billion. This was the second highest income and 

third highest net sales for these cooperatives, with 

2008 the highest for both and 2009 the second highest for net sales. Cotton, dairy, and livestock prices 

had large increases, as did fuel, but most farm supplies had lower prices. 

In 2010, agricultural cooperatives had 2.2 million 

members, with $65 billion in assets and $26 billion 

in equity. Cooperatives remained a major employer 

in rural areas, using 129,000 full-time workers.

Number of Cooperatives

The 2010 survey counted 2,310 marketing, supply, and service1

 cooperatives, compared with 2,390 

in 2008. Of the 2,310 cooperatives, 1,218 primarily 

marketed products, 975 primarily handled production supplies, and 117 provided services related to 

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

The proportion of marketing, supply, and service 

cooperatives to the total number of cooperatives remained virtually unchanged from 2009. Marketing 

cooperatives comprise about 53 percent of all cooperatives; supply, 42 percent; and service, 5 percent 

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

There was a net decrease of 80 associations (3 

percent) from 2009 to 2010, largely reflecting a 

continuing trend involving merger, acquisition, or 

dissolution. The largest decrease was 36 grain and 

oilseed cooperatives, while supply lost 17, and service declined by 4. 

Usually cooperatives are added to the list following news items or press releases from the cooperative, but that is not an easy process and probably 

leads to under-counting. Most deletions from the 

list occur when two or more cooperatives merge or 

combine their operations. It is much easier to drop 

a cooperative from the list than to add one, because 

undelivered mail is usually returned. If a new address is not found, the cooperative is dropped. Some 

cooperatives had been deleted earlier, but were 

added back when it was found that they were still in 

operation.

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.
4 Cooperative Statistics, 2010

Table 2–Number of cooperatives, by major 

function and State, 2010

 

Supply

Function Marketing & service Total

State Number

Alabama 9 42 51

Arizona 9 0 9

Arkansas 11 26 37

California 81 39 120

Colorado 10 16 26

Florida 21 12 33

Georgia 5 7 12

Hawaii 8 8 16

Idaho 17 10 27

Illinois 74 45 119

Indiana 16 19 35

Iowa 66 36 102

Kansas 66 26 92

Kentucky 7 29 36

Louisiana 12 23 35

Maryland 4 11 15

Massachusetts 3 5 8

Michigan 24 22 46

Minnesota 101 105 206

Mississippi 22 34 56

Missouri 20 40 60

Montana 18 28 46

Nebraska 37 22 59

New York 43 12 55

North Carolina 8 5 13

North Dakota 78 84 162

Ohio 28 15 43

Oklahoma 33 23 56

Oregon 18 14 32

Pennsylvania 23 14 37

South Dakota 38 37 75

Tennessee 6 60 66

Texas 144 45 189

Utah 5 7 12

Virginia 13 40 53

Washington 33 27 60

West Virginia 13 10 23

Wisconsin 39 75 114

Wyoming 6 5 11

Other States1 49 14 63

United States 1,218 1,092 2,310

1

 Includes States with fewer than three cooperatives for any 

function. States with at least three cooperatives were: Alaska, 

5; Connecticut, 5; Delaware, 3; Maine, 22; Maryland, 15; New 

Jersey, 11; South Carolina, 3; and Vermont, 3.

Cooperative numbers by marketing, supply, and 

service functions by State are shown in Table 2. 

Texas had the most marketing cooperatives with 

144, while Minnesota had 101. Minnesota had the 

most supply and service cooperatives with 105, followed by North Dakota with 84.

Many cooperatives operate branches to better 

serve their members. Most branches are owned; 

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

community. For economic or other reasons, many 

were acquired by or merged with other cooperatives 

and are operated as branches from which to serve 

members and patrons at outlying locations. 

Grain and oilseed and supply cooperatives operated over 5,368 branches: 2,013 and 3,355, respectively. Both grain and oilseed and supply cooperatives averaged about 3.5 branches per cooperative.

Memberships

Memberships in marketing, supply, and service 

cooperatives totaled an estimated 2.2 million in 

2010, up 4,000 from 2009 (Table 3). This is the first 

membership increase since 2004. By major business 

activity, 66 percent and 19 percent were memberships of supply and grain and oilseed cooperatives, 

respectively (Appendix Table 2, Figure 2). Dairy 

cooperative memberships were only 2 percent of the 

total, but accounted for 19 percent, or $31 billion, of 

cooperatives’ net business volume in 2010.

Memberships in cooperatives dropped from 3.0 

million in 2001 to 2.2 million in 2010 (Figure 3). 

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

United States (Appendix Figure 2). Many farmers 

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

the number of farms, but these numbers appear to 

be converging. Duplication in membership cannot 

be eliminated with current reporting methods. 

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

For example, a member may market only one of the 

products handled by the cooperative; another may 

use a cooperative classified in the marketing group 
Cooperative Statistics, 2010 5

FISH

Maine 15 0.6 0.90 0.90

Other States 22 4.8 224.27 224.27

United States 37 5.4 225.17 225.17

FRUIT AND VEGETABLE 

Arizona 4 0.8 83.73 44.35

California 34 11.3 2,750.51 2,018.13

Florida 12 0.5 781.82 229.81

Hawaii 4 0.1 7.85 7.85

Michigan 12 0.8 789.13 729.62

Minnesota 3 0.1 0.54 0.54

New Jersey 4 0.3 190.16 108.90

New York 9 1.0 70.77 70.48

Oregon 10 0.8 488.98 423.76

Pennsylvania 3 0.3 435.37 435.37

Texas 4 0.2 89.07 77.18

Washington 10 2.4 808.69 789.99

Other States 29 3.2 984.47 415.43

Foreign7 0 0.2 241.50 97.96

United States 138 21.9 7,722.59 5,449.37

 

GRAIN AND OILSEED8 

Colorado 7 5.3 274.05 274.05

Idaho 3 1.8 77.28 77.28

Illinois 69 48.7 4,091.40 4,091.40

Indiana 12 4.3 642.12 642.12

Iowa 57 63.2 6,692.70 6,620.10

Kansas 66 72.6 2,807.50 2,807.50

Minnesota 57 29.6 4,901.40 4,890.30

Mississippi 3 3.5 333.73 330.71

Missouri 12 19.0 1,056.92 681.09

Montana 3 0.9 380.70 380.70

 (continued next page)

Table 3–Number1 of cooperatives, memberships,2 and gross and net sales by State, 20103

Headquartered Member- Business volume

State in State ships Gross4 Net5

Number Thousands $Millions

BEAN AND PEA, DRY EDIBLE

United States 5 1.8 163.26 160.94

 

COTTON6

 

Texas 4 13.6 798.22 786.08

Other States 8 14.7 1,174.86 1,170.68

United States 12 28.2 1,973.08 1,956.77

COTTON GINNING6 

Alabama 3 0.1 2.91 2.91

Arizona 4 0.2 14.85 14.85

Arkansas 3 1.8 34.71 16.91

California 15 0.6 57.90 42.21

Louisiana 4 0.3 15.68 8.05

Mississippi 12 0.3 42.97 41.00

Oklahoma 10 4.4 10.62 10.62

Texas 101 17.5 203.82 187.59

Other States 5 0.4 30.25 19.21

United States 157 25.5 413.72 343.36

 

DAIRY 

California 4 1.4 4,652.62 4,574.77

Idaho 3 0.3 350.68 350.68

Illinois 3 1.6 1,446.50 1,340.57

Iowa 4 2.1 1,345.11 1,165.14

Minnesota 25 6.6 3,130.16 2,836.56

New Mexico 4 0.1 515.55 479.46

New York 31 3.5 2,128.43 1,738.47

Pennsylvania 11 3.7 1,368.93 1,214.79

Wisconsin 22 11.3 4,197.56 3,740.35

Other States 31 17.9 13,242.50 11,798.72

Foreign7 0 0.0 140.38 137.62

United States 138 48.5 32,518.42 29,377.13

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 2010. 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.
6 Cooperative Statistics, 2010

Table 3–Number1 of cooperatives, memberships,2 and gross and net sales by State, 20103

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 OILSEED8 (cont.)

Nebraska 33 57.2 3,878.89 3,876.67

North Dakota 63 23.6 2,712.24 2,712.24

Ohio 22 18.0 1,807.06 1,807.06

Oklahoma 20 14.4 242.74 242.74

South Dakota 38 21.9 2,106.41 2,106.41

Texas 25 10.5 600.78 600.78

Washington 14 8.2 512.48 512.48

Other States 14 11.3 2,383.77 2,338.49

Foreign7 0 0.0 5,441.49 5,441.49

United States 519 414.2 40,950.78 40,440.74

LIVESTOCK 

North Dakota 5 0.7 26.38 26.38

West Virginia 4 0.2 3.39 3.39

Wisconsin 15 45.8 414.00 414.00

Other States 35 28.7 3,189.23 3,094.76

United States 59 75.4 3,633.00 3,538.52 

NUT 

California 9 3.8 822.46 822.46

Other States 8 11.3 82.60 82.60

Foreign7 0 0.1 0.00 0.00

United States 17 15.2 905.06 905.06 

POULTRY9 

California 3 0.1 204.26 204.26

Other States 7 0.4 970.24 970.24

United States 10 0.5 1,174.50 1,174.50

 

RICE 

California 3 0.8 305.74 305.74

Texas 4 0.5 56.60 56.60

Other States 5 10.2 1,168.73 1,168.73

United States 12 11.6 1,531.07 1,531.07

 

SUGAR10 

Idaho 5 0.7 764.86 8.14

Louisiana 3 0.6 184.29 125.00

SUGAR10 (cont.)

Minnesota 3 2.5 1,822.96 1,816.83

Wyoming 4 0.4 37.84 37.84

Other States 12 5.0 2,072.36 1,987.85

Foreign7 0 0.1 7.53 7.53

United States 27 9.4 4,889.84 3,983.19

TOBACCO 

Tennessee 5 63.7 4.29 4.29

Other States 3 1.3 238.31 238.31

United States 8 65.0 242.60 242.60

OTHER MARKETING11 

Florida 3 0.0 34.61 34.61

Minnesota 9 4.4 1,494.28 1,435.54

Other States 67 11.5 3,262.02 3,054.65

United States 79 15.9 4,790.91 4,524.80

TOTAL MARKETING 

Alabama 9 2.9 276.50 276.50

Alaska 5 3.0 8.39 8.39

Arizona 9 1.3 765.05 695.65

Arkansas 11 13.9 2,114.49 2,013.34

California 81 20.6 9,036.26 8,209.98

Colorado 10 7.6 609.22 608.69

Florida 21 1.1 1,929.22 1,377.21

Georgia 5 8.0 519.07 491.56

Hawaii 8 0.4 9.83 9.83

Idaho 17 4.8 1,302.63 545.46

Illinois 74 51.9 5,793.47 5,687.54

Indiana 16 7.5 1,556.13 1,521.67

Iowa 66 68.9 9,353.91 9,080.10

Kansas 66 74.4 3,562.07 3,432.18

Kentucky 7 4.9 545.74 539.30

Louisiana 12 4.7 659.94 584.34

Maine 20 1.5 131.02 130.55

Massachusetts 3 0.4 399.74 193.15

Michigan 24 8.9 2,694.67 2,592.79

Minnesota 101 44.7 11,606.84 11,236.80

Mississippi 22 7.3 711.74 704.91

Missouri 20 26.7 4,072.48 3,211.01

Montana 18 1.8 556.21 555.32

Nebraska 37 59.5 4,980.75 4,787.26

New Jersey 9 1.5 261.64 168.61

New Mexico 7 0.9 533.70 497.61

New York 43 4.7 2,444.80 1,979.72

North Carolina 8 2.9 522.19 489.60

North Dakota 78 27.2 3,709.29 3,664.55

Ohio 28 22.2 2,658.67 2,604.24

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)
Cooperative Statistics, 2010 7

TOTAL MARKETING (cont.)

Oklahoma 33 22.9 594.65 565.79

Oregon 18 6.8 1,914.27 1,789.76

Pennsylvania 23 4.8 1,810.38 1,656.23

South Dakota 38 23.6 2,679.14 2,628.10

Tennessee 6 65.7 143.93 109.70

Texas 144 45.6 3,657.35 3,448.88

Utah 5 2.5 398.35 386.70

Vermont 3 1.2 488.97 488.97

Virginia 13 3.4 482.66 431.41

Washington 33 12.0 2,795.03 2,765.58

West Virginia 13 1.0 19.16 17.10

Wisconsin 39 57.6 6,017.15 5,113.15

Wyoming 6 0.9 113.55 113.34

Other States 9 3.6 787.19 699.55

Foreign7 0 0.5 5,906.56 5,741.11

United States 1,218 738.4 101,134.01 93,853.22

SUPPLIES PROVIDED 

 

CROP PROTECTANTS12 

Alabama 120.61 104.83

Arkansas 224.40 160.98

California 39.03 33.00

Colorado 43.66 35.03

Florida 46.96 22.47

Georgia 125.44 104.07

Idaho 65.79 42.55

Illinois 947.15 728.23

Indiana 322.56 234.19

Iowa 1,344.02 1,004.64

Kansas 316.38 243.46

Kentucky 69.57 56.89

Louisiana 62.14 35.55

Maryland 24.08 21.20

Massachusetts 1.34 0.52

Michigan 48.93 32.76

Minnesota 533.34 386.83

Mississippi 108.23 86.15

Missouri 157.15 104.09

Montana 229.19 116.56

Nebraska 483.34 320.81

New York 27.16 13.23

North Dakota 384.69 275.86

Ohio 211.45 154.19

Table 3–Number1 of cooperatives, memberships,2 and gross and net sales by State, 20103

Headquartered Member- Business volume

State in State ships Gross4 Net5

Number Thousands $Millions

Headquartered Member- Business volume

State in State ships Gross4 Net5

Number Thousands $Millions

CROP PROTECTANTS12

Oklahoma 37.03 28.40

Oregon 305.32 178.45

Pennsylvania 63.91 39.46

South Dakota 414.84 252.59

Tennessee 162.55 91.28

Texas 152.88 82.02

Utah 15.14 12.27

Virginia 34.89 33.88

Washington 378.06 248.04

West Virginia 3.48 3.48

Wisconsin 395.63 242.18

Wyoming 2.90 1.97

Other States 118.47 92.91

Foreign7 73.72 54.14

United States 8,095.46 5,679.17

 

FEED12 

Alabama 85.66 57.91

Arkansas 119.61 98.46

California 613.57 449.44

Colorado 73.91 65.39

Florida 120.25 96.49

Georgia 78.76 64.96

Idaho 63.24 48.90

Illinois 533.07 424.56

Indiana 205.90 172.75

Iowa 1,854.66 1,580.41

Kansas 349.93 303.81

Kentucky 91.42 84.98

Louisiana 84.93 65.60

Maryland 68.47 60.84

Massachusetts 40.85 30.16

Michigan 150.86 132.56

Minnesota 1,275.70 1,052.86

Mississippi 92.60 77.32

Missouri 473.33 358.80

Montana 69.86 21.57

Nebraska 388.85 298.90

New York 92.79 71.62

North Dakota 156.22 121.07

Ohio 322.73 283.83

Oklahoma 110.00 79.46

Oregon 138.89 76.09

Pennsylvania 212.73 158.57

South Dakota 357.21 246.01

Tennessee 254.69 168.38

(continued next page) 12 Headquartered in State and membership values are not collected for individual supply products; rather, they are collected 

for total supplies.

(continued)
8 Cooperative Statistics, 2010

Table 3–Number1 of cooperatives, memberships,2 and gross and net sales by State, 20103

Headquartered Member- Business volume

State in State ships Gross4 Net5

Number Thousands $Millions

Headquartered Member- Business volume

State in State ships Gross4 Net5

Number Thousands $Millions

FEED12 (cont.)

Texas 411.38 320.11

Utah 139.63 133.45

Virginia 202.07 192.96

Washington 131.15 66.01

West Virginia 28.13 27.54

Wisconsin 696.99 567.66

Wyoming 11.15 9.76

Other States 494.76 372.76

Foreign7 228.00 154.80

United States 10,823.96 8,596.77

FERTILIZER12 

Alabama 80.20 80.20

Arkansas 110.17 104.58

California 142.95 142.95

Colorado 83.05 81.76

Florida 83.44 64.44

Georgia 87.47 85.19

Idaho 46.33 46.33

Illinois 1,214.63 1,076.85

Indiana 525.33 521.66

Iowa 1,824.15 1,410.90

Kansas 501.92 495.78

Kentucky 147.00 144.31

Louisiana 19.05 18.88

Maryland 38.34 38.23

Massachusetts 7.28 4.96

Michigan 89.10 87.51

Minnesota 880.46 758.98

Mississippi 33.98 32.42

Missouri 351.96 266.84

Montana 312.86 193.65

Nebraska 809.03 682.68

New York 25.24 18.12

North Dakota 417.26 417.26

Ohio 470.35 443.41

Oklahoma 101.98 98.32

Oregon 362.41 243.21

Pennsylvania 49.40 36.38

South Dakota 516.81 397.65

Tennessee 252.74 179.74

Texas 102.34 102.34

Utah 32.24 30.13

Virginia 125.67 123.04

Washington 392.25 272.16

West Virginia 12.41 12.31

FERTILIZER12(cont.)

Wisconsin 581.37 449.05

Wyoming 7.79 7.75

Other States 225.27 212.56

Foreign7 54.78 36.30

United States 11,118.99 9,418.85

PETROLEUM12, 13 

Alabama 7.95 7.95

Arkansas 156.28 146.88

California 4.09 3.74

Colorado 642.65 366.17

Florida 6.46 4.44

Georgia 402.01 129.34

Idaho 494.25 238.64

Illinois 2,505.26 1,723.31

Indiana 1,783.55 1,060.80

Iowa 1,881.44 1,424.25

Kansas 1,333.94 939.79

Kentucky 158.96 119.99

Louisiana 10.19 10.03

Maryland 134.36 134.35

Massachusetts 0.03 0.03

Michigan 565.33 245.55

Minnesota 1,549.54 1,288.74

Mississippi 17.63 15.70

Missouri 1,632.51 1,190.44

Montana 715.85 530.41

Nebraska 1,403.94 998.26

New York 2.66 2.49

North Dakota 1,305.09 1,035.96

Ohio 491.74 387.29

Oklahoma 805.72 402.55

Oregon 503.03 298.55

Pennsylvania 6.29 6.12

South Dakota 805.10 515.06

Tennessee 587.15 237.32

Texas 353.62 292.11

Utah 387.36 120.39

Virginia 688.24 401.98

Washington 607.28 425.51

West Virginia 55.49 55.49

Wisconsin 1,351.46 1,050.90

Wyoming 470.77 282.83

Other States 76.44 76.21

Foreign7 577.90 223.87

United States 24,481.58 16,393.44

(continued)

13 Includes all types of petroleum products and lubricants as 

well as bioenergy fuels such as ethanol and biodiesel.
Cooperative Statistics, 2010 9

Table 3–Number1 of cooperatives, memberships,2 and gross and net sales by State, 20103

Headquartered Member- Business volume

State in State ships Gross4 Net5

Number Thousands $Millions

Headquartered Member- Business volume

State in State ships Gross4 Net5

Number Thousands $Millions

SEED12 

Alabama 36.75 24.18

Arkansas 58.29 41.33

California 38.02 20.82

Colorado 29.82 11.61

Florida 4.64 3.92

Georgia 19.08 15.75

Idaho 22.52 11.54

Illinois 565.59 371.62

Indiana 203.83 102.16

Iowa 625.96 373.66

Kansas 146.00 90.86

Kentucky 54.17 42.46

Louisiana 29.24 15.22

Maryland 11.84 10.54

Massachusetts 0.63 0.63

Michigan 39.88 22.95

Minnesota 517.77 287.81

Mississippi 43.65 20.38

Missouri 96.94 72.66

Montana 27.59 24.26

Nebraska 238.41 153.84

New York 6.64 2.74

North Dakota 262.45 135.24

Ohio 206.66 125.83

Oklahoma 9.74 8.00

Oregon 41.67 38.20

Pennsylvania 10.03 6.36

South Dakota 275.08 139.78

Tennessee 141.78 82.92

Texas 63.36 39.22

Utah 5.91 3.74

Virginia 37.95 36.94

Washington 59.58 53.94

West Virginia 5.51 5.22

Wisconsin 251.62 146.99

Wyoming 2.93 1.34

Other States 62.50 50.50

Foreign7 2.22 1.23

United States 4,256.26 2,596.40

OTHER SUPPLIES12, 14 

Alabama 56.47 53.55

Arkansas 85.17 74.19

California 198.89 191.43

Colorado 84.54 77.09

OTHER SUPPLIES12, 14 (cont.)

Florida 47.71 28.25

Georgia 48.12 27.44

Idaho 51.19 42.10

Illinois 259.25 178.97

Indiana 152.76 117.78

Iowa 234.86 203.73

Kansas 128.87 120.08

Kentucky 102.96 79.65

Louisiana 17.75 17.68

Maryland 26.24 24.50

Massachusetts 12.77 12.73

Michigan 95.48 80.51

Minnesota 358.09 328.57

Mississippi 41.21 39.49

Missouri 207.43 169.67

Montana 83.69 79.59

Nebraska 144.81 139.09

New York 19.94 19.53

North Dakota 398.36 391.85

Ohio 93.42 78.56

Oklahoma 46.69 39.44

Oregon 268.09 265.91

Pennsylvania 18.48 16.05

South Dakota 328.41 323.27

Tennessee 301.48 196.37

Texas 106.01 95.14

Utah 92.12 77.06

Virginia 160.92 156.65

Washington 182.10 147.66

West Virginia 29.48 29.46

Wisconsin 394.45 375.77

Wyoming 41.77 39.54

Other States 206.26 165.19

Foreign7 17.51 9.58

United States 5,143.77 4,513.12

 

SUPPLY 

Alabama 41 27.3 387.64 328.61

Arkansas 26 28.0 753.92 626.43

California 16 12.7 1,036.55 841.38

Colorado 15 33.8 957.64 637.06

Florida 7 10.3 309.46 220.00

Georgia 5 14.2 760.88 426.76

Idaho 7 7.8 743.32 430.05

Illinois 44 75.1 6,024.96 4,503.54

Indiana 17 36.6 3,193.93 2,209.35

Iowa 35 46.4 7,765.09 5,997.59

(continued next page)

14 Includes building materials, containers and packaging 

supplies, machinery and equipment, meats and groceries, 

automotive supplies, hardware, chicks, and other supplies not 

separately classified.

(continued)
10 Cooperative Statistics, 2010

Table 3–Number1 of cooperatives, memberships,2 and gross and net sales by State, 20103

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 (cont.)

Kansas 25 32.1 2,777.03 2,193.79

Kentucky 29 187.7 624.07 528.28

Louisiana 18 5.5 223.31 162.95

Maryland 11 41.5 303.32 289.67

Massachusetts 3 2.3 62.90 49.03

Michigan 19 38.2 989.60 601.83

Minnesota 101 84.7 5,114.90 4,103.78

Mississippi 31 34.9 337.31 271.47

Missouri 40 81.1 2,919.31 2,162.51

Montana 27 24.8 1,439.04 966.05

Nebraska 21 13.8 3,468.39 2,593.58

New York 6 1.4 174.42 127.73

North Dakota 83 61.8 2,924.08 2,377.25

Ohio 13 20.1 1,796.35 1,473.12

Oklahoma 23 16.0 1,111.17 656.17

Oregon 12 24.3 1,619.40 1,100.40

Pennsylvania 7 4.3 360.84 262.95

South Dakota 37 41.1 2,697.45 1,874.36

Tennessee 60 67.1 1,700.39 956.00

Texas 36 28.6 1,189.60 930.94

Utah 6 4.6 672.41 377.03

Virginia 38 133.9 1,249.73 945.46

Washington 22 13.3 1,750.43 1,213.32

West Virginia 10 67.4 134.51 133.50

Wisconsin 67 95.7 3,671.51 2,832.56

Wyoming 5 4.1 537.31 343.19

Other States 12 43.0 1,183.71 970.14

Foreign7 0 1.4 954.13 479.92

United States 975 1,467.0 63,920.03 47,197.74

SERVICE15 

California 23 2.2 362.18 362.18

Louisiana 5 0.2 14.01 14.01

Minnesota 4 0.2 1,032.78 1,032.78

Mississippi 3 13.5 59.59 59.59

North Carolina 3 0.8 10.22 10.22

Pennsylvania 7 0.2 6.83 6.83

Texas 9 0.5 317.61 317.61

Wisconsin 8 3.2 196.23 196.23

Other States 55 16.3 3,013.56 3,013.56

United States 117 37.1 5,013.02 5,013.02

TOTAL 

Alabama 51 30.2 687.93 628.89

Alaska 5 3.0 160.29 109.07

Arizona 9 1.8 841.15 755.01

Arkansas 37 41.9 2,914.37 2,685.73

California 120 35.5 10,434.99 9,413.55

Colorado 26 41.4 1,632.41 1,311.29

Connecticut 5 0.6 264.44 251.33

Delaware 3 9.6 120.96 109.41

Florida 33 20.3 2,260.23 1,618.76

Georgia 12 22.4 1,284.11 922.48

Hawaii 16 0.7 17.84 16.95

Idaho 27 13.0 2,074.23 1,003.79

Illinois 119 127.5 12,232.70 10,605.36

Indiana 35 44.1 4,905.00 3,885.97

Iowa 102 117.3 17,726.92 15,685.60

Kansas 92 106.6 6,601.62 5,888.49

Kentucky 36 192.6 1,184.84 1,082.60

Louisiana 35 10.4 897.25 761.30

Maine 22 5.0 208.50 202.86

Maryland 15 42.8 718.37 630.78

Massachusetts 8 3.1 457.78 237.32

Michigan 46 47.5 3,737.69 3,248.04

Minnesota 206 129.6 17,754.52 16,373.36

Mississippi 56 55.7 1,108.65 1,035.98

Missouri 60 107.8 7,198.51 5,580.24

Montana 46 26.5 2,011.99 1,538.11

Nebraska 59 73.3 8,761.07 7,692.76

New Jersey 11 1.6 367.37 244.96

New Mexico 8 1.2 602.45 544.74

New York 55 6.4 2,634.74 2,122.95

North Carolina 13 30.4 898.16 828.52

North Dakota 162 90.7 6,775.49 6,183.92

Ohio 43 42.4 4,627.22 4,249.56

Oklahoma 56 38.9 1,763.57 1,279.71

Oregon 32 31.6 3,578.08 2,934.57

Pennsylvania 37 9.3 2,178.04 1,926.01

South Carolina 3 3.4 200.59 180.61

South Dakota 75 64.7 5,518.11 4,643.97

Tennessee 66 132.8 1,890.32 1,111.70

Texas 189 74.7 5,164.56 4,697.42

Utah 12 7.1 1,088.40 781.37

Vermont 3 1.2 519.32 517.27

Virginia 53 137.4 1,771.83 1,416.31

Washington 60 25.9 4,617.05 4,050.49

West Virginia 23 68.4 154.37 151.30

Wisconsin 114 156.5 9,884.90 8,141.94

Wyoming 11 5.0 656.65 462.31

Other States 3 0.8 116.79 98.29

Foreign7 0 1.8 6,860.69 6,221.03

United States 2,310 2,242.5 170,067.05 146,063.97

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, 2010 11

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

business with the cooperative, therefore, may not be 

in the group that represents the cooperative’s major 

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

will be included arbitrarily in that classification.

During the past decade, membership declines 

in marketing cooperatives declined a little faster 

than those of supply cooperatives. Memberships in 

marketing cooperatives dropped 493,000 (62 percent) while service cooperatives had an increase of 

6,000, and supply cooperatives decreased 302,000 

(38 percent). 

Employees

Cooperatives had an estimated 129,000 full-time 

employees in 2010, an increase of about 7,100 from 

2009 (Table 4). With three record years of sales, 

it appears that some cooperatives have been able 

to add employees; some may have changed a few 

part-time and seasonal employees to full-time as the 

number of those employees decreased by 3,300 to 

54,000 in 2010. Supply cooperatives increased their 

full-time employees by about 7,000 while grain 

and oilseed cooperatives decreased theirs by about 

3,000. 

Cooperatives employ full-time and, in most 

cases, part-time and seasonal employees to run their 

operations. Their number and type depends on a 

number of factors, such as size of operation, type 

of commodity handled, and involvement in valueadded activities. 

In 2010, cooperatives employed an estimated 

184,000 full-time and part-time and seasonal employees (Table 5), up 3,400 from 2009. Among marketing cooperatives, those primarily handling fruits 

and vegetables had the most employees (29,900), 

followed by grains and oilseeds (29,000), then dairy 

(20,000). 

By type, marketing cooperatives had 106,000 

full-time and part-time and seasonal employees (58 

percent of total); supply cooperatives had 76,000 

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

percent). 

Figure 4 shows the number of full-time and 

part-time and seasonal employees by type of cooperative for 2010. Supply, fruit and vegetable, grain 

and oilseed, and dairy cooperatives used the most 

employees; fish cooperatives the fewest. Dairy, rice, 

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

employees. Cotton-ginning and fruit and vegetable 

cooperatives had more than half of their employees 

as part-time and seasonal employees while almost 

50 percent of sugar cooperatives employees were 

part-time and seasonal. 

Cooperatives used 54,000 part-time and seasonal 

employees in 2010, down about 3,300, or 6 percent, 

from 2009. Grain and oilseed, dairy, and fruit and 

vegetable cooperatives all had fewer part-time and 

seasonal employees in 2010. 

In 2010, marketing cooperatives reported 36,000 

part-time and seasonal employees, or 66 percent of 

that type of worker used. Marketing cooperatives 

averaged 29 part-time and seasonal employees per 

cooperative. Fruit and vegetable cooperatives, with 

about 17,000, accounted for about 31 percent of all 

part-time and seasonal employees used by cooperatives. Supply cooperatives had about 18,000 parttime and seasonal employees, an average of 18 per 

cooperative.

Most types of marketing cooperatives operated 

with more employees than did supply cooperatives. 

For example, sugar cooperatives averaged 401 employees; rice, 223; fruit and vegetable, 217; while 

supply cooperatives averaged 77 (Figure 5).

Business Size

Most cooperatives, as measured by annual gross 

business volume, 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 2001 

to 2010, there were 1,137 fewer cooperatives with 

less than $25 million in sales, while there were 218 

cooperatives that moved up into the sales group of 

more than $25 million in sales. The $200 to $499.9 

million sales group had the most growth, increasing 

from 40 cooperatives in 2001 to 131 in 2010 (Table 

6).

In 2010, 57 percent of all cooperatives reported a 

business volume of less than $15 million. However, 

they accounted for less than 4 percent of the total 
12 Cooperative Statistics, 2010

0 50 100 150 200 250 300 350 400 450

Sugar

Rice

Fruit and vegetable

Poultry

Cotton

Dairy

Nut

Supply

Grain & oilseed

Cotton ginning

Fish

Service

Number

Full-time

Part-time and seasonal

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

 Seasonal Employees, 2010

0

1

2

3

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Million

Service

Supply

Marketing

Figure 3–Cooperative Memberships by Function,

 2001-2010

0 10 20 30 40 50 60 70 80

Supply

Fruit and vegetable

Grain and oilseed

Dairy

Sugar

Cotton ginning

Livestock and poultry

Rice

Cotton

Service

Fish

1,000 Employees

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

.

Full-time

Part-time and seasonal

Other marketing1

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

 Employees, by Cooperative Type, 2010

gross dollar volume (Figure 6). About 8 

percent of cooperatives reported a business volume of at least $200 million, 

but they accounted for 72 percent of the 

total sales.

Business Volume

Total gross business volume of the 

2,310 marketing, supply, and service 

cooperatives for 2010 was $170.1 billion (Table 7), up slightly from $169.3 

billion in 2009. Historically, gross business volume fell from the record $128 

billion in 1996 to $112 billion in 2002; 

however, this has not been a steady 

decline—some years saw increases to 

over $120 billion while other years fell 

to $115 billion or less (Appendix Table 

3, Appendix Figure 4). The historical 

high of 1996 was almost matched in 

2006 and then was eclipsed in 2007 

through 2010. 

Dairy cooperatives had a $2.0-billion 

increase in sales due to higher prices, 

and supply cooperatives had increases 

in petroleum prices that led to a $1.0- 

billion increase. Food grain prices 

decreased about 5 percent and oilseeds 

dropped 1 percent, leaving grain and 

oilseed sales down $3.0 billion. 

Total net business volume of cooperatives in 2010 was down slightly from 

2009, even though gross sales increased 

slightly. This means there was a slight 

increase in sales between cooperatives, 

which lowers net sales (net sales = 

gross sales – sales between cooperatives). The net volume for 2010 was 

$146 billion—$94 billion from products 

marketed, $47 billion from supply sales, 

and $5 billion from services performed 

and other income sources. The $146 

billion was the third highest total ever, 

following only the record net business 

volume of 2008 and the second highest 

in 2009 (Appendix Table 4, Appendix 

Figure 5). There have been a number 
Cooperative Statistics, 2010 13

0

20

40

60

80

100

120

140

160

180

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

1

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

Billion dollars

Actual

Real

1

Figure 7–Cooperatives’ Net Business Volume, Actual

 and Adjusted, 2001-2010

0

10

20

30

40

50

60

70

<5.0 5 to 9.9 10 to 14.9 15 to 99.9 100 to 499.9 >499.9

Gross business volume ($Million)

Percent

Cooperatives

Dollar volume

Figure 6–Distribution of Cooperatives and

 Volume, by Size, 2010

of fluctuations in net business volume. 

Net volume dropped to around $100 

billion in 1999 and stayed there until 

the current upward trend that started in 

2003. It really took off due to increased 

grain and oilseed prices and energy 

costs in 2007 through 2010. Adjusted 

for inflation2 where 1991 = 100, net 

business volume totaled $104 billion 

in 2001 and increased to $168 billion 

in 2008, before falling to $146 billion 

in both 2010 and 2009 (Figure 7). The 

difference between actual and real net 

business volume in 2010 was $31 billion. The real net business volume was 

lower than the actual value in 2010 due 

to prices paid for production inputs 

increasing more than prices received 

for farm products. The index for prices 

received for all farm commodities from 

2001 to 2010 rose 42 points, while the 

index for prices paid for farm production items increased 59 points: hence 

the gap between actual and real cooperative net business volume when 

adjusted by prices paid and prices 

received for farm production. 

Net volume of products marketed 

decreased slightly from 2009—a decrease of less than 1 percentage point. 

Net marketing business volume accounted for 64 percent of total cooperative sales in 2010, the same as in 

2009.

Figure 8 illustrates the leading 

products marketed by cooperatives based on net 

marketing business volume. Grain and oilseed led 

with 43 percent, followed by dairy (milk and milk 

products) with 31 percent, and fruit and vegetable 

with 6 percent. 

Net supply volume of $47 billion was also virtually unchanged from 2009 and accounted for 32 

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

= 100). Supply sales and service receipts and other 

income were deflated by the index of prices paid by 

farmers for “production items,” excluding interest, 

taxes, and wages (1991 = 100).

percent of the total net business volume. The leading production goods handled by cooperatives in 

terms of supply net business volume were petroleum, 35 percent; fertilizer, 20 percent; and feed, 

18 percent (Figure 9). Petroleum sales increased by 

more than $0.5 billion over 2009 sales, while fertilizer sales decreased $1.2 billion. 

Receipts for services provided by marketing, 

supply, and service cooperatives, plus other income, 

increased slightly. Service receipts and other income 

represented 3 percent of total net business volume.

Marketing sales of four major commodity 

groups—grain and oilseed, dairy, fruit and vegeta-
14 Cooperative Statistics, 2010

Fertilizer

20.0%

Other supplies

9.6%

Seed

5.5%

Petroleum

34.7%

Crop protectants

12.0% Feed

18.2%

Percentages are based on a total net supply business volume of $47.2 billion.

1 Includes building materials, tires, batteries and accessories, equipment, animal health

products, pet food, semen, hardware, food, clothing, and other.

1

Figure 9–Relative Importance of Supplies 

 Handled by Cooperatives, 2010

Iowa with $17.7 billion in gross business and $15.7 billion in net business 

volume.

Balance Sheet

The balance sheet of a cooperative 

states its financial position at the end 

of a 12-month fiscal year. The balance sheet represents the cooperative’s 

assets, liabilities, member equity, and 

their mutual relationship. Combined 

assets for all cooperatives totaled $65 

billion in 2010; about $4 billion lower 

than the record set in 2008 of $69 

billion (Table 8). Total assets of cooperatives, excluding inter-cooperative 

investments, increased by $4 billion 

from 2009 to $61 billion. Cooperatives’ 

total assets grew from $48 billion in 

2001 to $65 billion in 2010 (Appendix Table 5 and 

Figure 12). 

In 2001, $5.2 billion (11 percent of total assets) was invested in other cooperatives, including 

CoBank, and this peaked at $5.5 billion in 2002. 

In 2010, these investments were $4.3 billion, down 

$0.9 billion from 2001, and at 6.6 percent of total 

assets, 3.2 points lower than a decade ago. 

Of the $65 billion in total assets, marketing coopFish

0.2%

Dairy

31.3%

Livestock

3.8%

Rice

1.6%

Grain and oilseed

43.1%

Poultry

1.3%

Cotton

2.5%

Other marketing

5.0%

Sugar

4.2%

Nut

1.0%

Tobacco

0.3%

Fruit & vegetable

5.8%

Percentages are based on a total net marketing business volume of $93.9 billion.

1

Includes wool and mohair, dry beans and peas, and other produc.t marketing

1

Figure 8–Relative Importance of Products 

 Marketed by Cooperatives, 2010

ble, and sugar—were up from 74 percent of marketing sales in 2001 to 84 percent in 2010 (Figure 10). 

Grain and oilseed sales increased by $22 billion 

mainly due to prices increases. Dairy sales increased by $3 billion, while fruit and vegetable sales 

decreased by $6 billion due to several cooperatives 

changing to investor-owned firms or going out of 

business. Net volume among commodity groups 

was highest in 2010 for grain and oilseed with $40 

billion ($18 billion in 2001), followed 

by dairy with $29 billion. 

For supplies, feed and fertilizer were 

important farm inputs (Figure 11), but 

petroleum was especially important 

with sales $6 billion more than either 

feed or fertilizer. The combination of 

petroleum, feed, and fertilizer sales 

accounted for 73 percent of cooperatives’ total supply sales in 2010 and 70 

percent in 2001. 

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 in total gross and net business volume with $17.8 billion and 

$16.4 billion, respectively, followed by 
Cooperative Statistics, 2010 15

0

10

20

30

40

50

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Sugar

Billion dollars

Milk & milk

products

Fruit& vegetable

Grain &

oilseed

Figure 10–Cooperatives’ Net Sales of Selected 

 Commodities, 2001-2010

0

5

10

15

20

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Fertilizer

Seed

Billion dollars

Petroleum

Crop

protectants

Feed

Figure 11–Cooperatives’ Net Sales of Selected 

 Supplies, 2001-2010

eratives accounted for $34 billion, down $6 billion 

from 2009. Grain and oilseed cooperatives had over 

$14 billion in assets, almost double the assets of 

dairy cooperatives and more than 3 times the assets 

of fruit and vegetable cooperatives ($4.5 billion), 

but all three types of marketing cooperatives with 

the most assets have less combined assets than supply cooperatives ($31 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 percent 

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

of cooperatives. 

Current Assets

Current assets are generally comprised of cash and cash equivalents, 

accounts and notes (with short-term 

maturities) receivable, inventories, 

and prepaid expenses. Current assets 

were about 60 percent for all sizes 

of cooperatives, up from 59 percent 

in 2009. Smaller cooperatives, especially service, most sugar, biofuels, 

and cotton-ginning cooperatives, had 

smaller levels of current assets. Grain 

and oilseed, livestock, dry bean and 

pea, and larger cooperatives tended to 

have higher levels of current assets.

Investments and Other Assets

Investments were most often in 

other cooperatives and CoBank, while 

other assets is a catch-all account in 

this study and contained a wide variety 

of items. Investments plus other assets ranged from 16 percent for small 

cooperatives down to 14 percent for 

cooperatives with sales from $15 to 

$100 million. Investments were larger 

for supply cooperatives than most 

marketing cooperatives. All but the 

largest supply cooperatives generally 

purchase their inputs from regional 

supply cooperatives: hence the large 

investments in other cooperatives. 

Large dairy, large fresh fruit and vegetable, service 

(except dairy service and fresh fruit and vegetable 

service), cotton, fish, poultry, nut, tobacco, and livestock cooperatives all had low investments—often 

less than 4 percent. 

Property, Plant, and Equipment

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

are tangible assets used in the cooperative’s operations. By size, PP&E was between 24 and 28 

percent of total assets. Biofuels, medium sugar, 
16 Cooperative Statistics, 2010

Table 4–Cooperatives’ number of full-time 

employees, 2010-2006 

 

Commodity 2010 2009 2008 2007 2006 

 Thousands

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

Cotton 1.8 1.4 1.7 1.6 1.7

Cotton-ginning 1.1 1.1 1.1 1.1 1.1

Dairy 18.9 16.1 23.8 23.8 22.9

Fish 0.7 0.7 0.7 0.7 0.7

Fruit and vegetable 13.3 13.6 16.1 14.1 14.0

Grain and oilseed 22.4 25.7 21.0 17.9 17.7

Livestock 0.6 0.7 0.7 0.7 0.8

Nut 0.3 0.3 0.3 3.7 3.6

Poultry 2.0 1.7 1.7 1.7 2.1

Rice 2.4 2.5 2.6 2.6 2.6

Sugar 5.5 5.7 5.9 7.5 7.7

Other marketing 0.8 0.8 1.9 2.3 2.8

Total marketing 70.1 70.6 77.8 77.8 78.0

 

Total supplies 57.9 50.3 46.3 46.2 47.4

 

Total services 1.2 1.3 1.3 1.5 1.5

Total 129.3 122.2 125.4 125.5 126.9

small cotton-ginning, small fish, and service (except 

storage, dairy, 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 

will probably be paid within 1 year. 

Current liabilities are comprised of 

notes payable to banks and/or other 

trade creditors, accounts payable, 

current maturities of long-term debt, 

income taxes, other accrued liabilities 

(payroll, property taxes, interest, and 

other), patronage dividends payable, 

and miscellaneous or other current 

liabilities. Current liabilities were at 

least 31 percent of total assets and grew 

to 43 percent for larger cooperatives. 

Product marketing cooperatives tended 

to have higher levels of current liabilities than supply and service cooperatives.

Total Liabilities

Total liabilities include current liabilities plus 

long-term liabilities, which are primarily long-term 

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

financed through long-term debt. The largest cooperatives used the most debt, financing 21 percent of 

their assets. Nut, cotton, large fruit and vegetable, 

medium and small fish, rice, large and medium 

sugar, and farmer market cooperatives all financed 

about 20 percent of their assets with long-term debt. 

Total liabilities were $39 billion, up $2 billion 

from 2009 (Table 10). Cooperatives’ total liabilities grew from $28 billion in 2001 to $39 billion in 

2010. Total liabilities financed 60 percent of total 

assets in 2010, about the same as in 2009. 

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 27 percent of ownership of all sizes of cooperatives, but this was 1 point 

higher than 2009. The very largest cooperatives had 

the smallest percentages of both retained earnings 

and overall equity. 

Net worth, or member and patron equity, was $26 

billion, up $2.1 billion from 2009. The proportion of 

total assets financed by member and patron equity 

0

10

20

30

40

50

60

70

80

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Billion dollars

Liabilities

Net Worth

Assets

Figure 12–Cooperatives’ Assets, Liabilities, and Net 

Worth, 2001-2010
Cooperative Statistics, 2010 17

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

cooperatives, by cooperative type, 2010-20091

 

Principal product(s) Total Part-time & 

marketed employees Full-time seasonal

or major function 2010 2009 2010 2009 2010 2009

 

Products marketed Thousands 

Cotton 1.8 2.1 1.4 1.7 0.3 0.4

Bean & pea (dry edible) 0.2 0.3 0.2 0.2 0.1 0.1

Cotton 2.2 1.8 1.8 1.4 0.4 0.3

Cotton-ginning 3.9 4.0 1.1 1.1 2.8 2.9

Dairy 20.0 18.8 18.9 16.1 1.0 2.7

Fish 0.9 0.9 0.7 0.7 0.2 0.2

Fruit and vegetable 29.9 31.2 13.3 13.6 16.6 17.6

Grain and oilseed 29.0 35.2 22.4 25.7 6.6 9.5

Livestock and poultry 3.4 3.3 2.6 2.3 0.9 0.9

Rice 2.7 2.9 2.4 2.5 0.3 0.3

Sugar 10.8 10.3 5.5 5.7 5.3 4.6

Other marketing2 2.9 2.9 1.1 1.2 1.7 1.7

Total marketing 106.0 111.4 70.1 70.6 35.8 40.9

 

Total supplies 75.5 66.6 57.9 50.3 17.7 16.3

 

Total services 2.1 2.1 1.2 1.3 0.9 0.8

Total 183.6 180.2 129.3 122.2 54.3 58.0

1 Totals may not add due to rounding.

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

was 39 percent, unchanged from 2009. Net worth 

for all marketing cooperatives totaled $13 billion, 

down $2 billion from 2009. Marketing cooperatives 

accounted for 50 percent of cooperatives’ combined 

net worth, down 13 points from 2009. Net worth for 

supply cooperatives totaled $12.7 billion and was 

49 percent of the total. For marketing cooperatives, 

the highest percentage of total assets represented by 

net worth as shown in Figure 13, 56 percent, was 

for other marketing cooperatives. The lowest, 31 

percent, was fruit and vegetable cooperatives. 

Income Statement 

The income statement shows the net results of 

a cooperative’s operations. Because most managers’ performance is judged by net income, members 

attach great importance to the income statement. 

Table 9 presents a commonsize income statement for all 

cooperatives, broken out into 

six different sizes. Each item 

in a common-size income 

statement is represented as 

a percent 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. 

Cost of Goods Sold

Cost of goods sold (COGS) 

includes the beginning inventory plus purchases and 

freight costs, minus purchase 

returns and allowances, purchase discounts, and ending 

inventory. COGS, therefore, 

was the purchase price of the supplies sold or products marketed. For all sizes of cooperatives, COGS 

was 90 percent of net sales. COGS can be much 

lower for cooperatives that process products or 

provide technical services. Artificial-insemination 

cooperatives, processed and fresh fruit and vegetable cooperatives, larger fish, smaller nut, larger 

rice, and medium sugar cooperatives have a lower 

COGS. Grain and oilseed and most dairy cooperatives have a COGS in excess of 90 percent, while 

large livestock marketing cooperatives that operate 

mainly as auctions have a COGS of 99 percent.

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 tremendously impact net operating margins. A cooperative 
18 Cooperative Statistics, 2010

Service and Other 

Operating Income

Service and other 

operating income is 

that derived from any 

service these cooperatives provided. Some 

cooperatives only 

provide services, such 

as rice-driers, storage, 

transportation, auctions, hulling, seed 

development, locker 

plants, pest management and scouting, 

farmer markets, and 

other miscellaneous 

services. Service 

income is important to 

marketing and supply 

cooperatives. They 

provide hauling, storage, grading, delivery, 

custom application, 

record keeping, and 

drying, to name some 

of the most common. Other operating income is 

generated from sales activities and includes income 

from providing financing for sales. 

0 10 20 30 40 50 60 70

Service

Supply

Rice

Sugar

Cotton

Fish

Dairy

Grain & oilseed

Livestock & poultry

Fruit & vegetable

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

Percent

Other marketing1

 Cooperatives Dollar volume Memberships2 

Sales volume Percent Gross3 Percent Number Percent

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

 

 

Less than 5.0 801 34.7 1.44 0.8 271 12.1

 5 - 9.9 336 14.5 2.48 1.5 179 8.0

 10 - 14.9 172 7.4 2.14 1.3 124 5.5

 15 - 24.9 251 10.9 4.88 2.9 176 7.8

 25 - 49.9 250 10.8 8.73 5.1 229 10.2

 50 - 99.9 200 8.7 13.21 7.8 193 8.6

 100 - 199.9 106 4.6 14.75 8.7 192 8.6

 200 - 499.9 131 5.7 25.30 14.9 323 14.4

 500 - 999.9 41 1.8 19.79 11.6 152 6.8

1,000 and more 22 1.0 77.36 45.5 403 18.0

Total4 2,310 100.0 170.07 100.0 2,243 100.0

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, 

20101

Figure 13–Percentage of Assets Financed by Net

 Worth, by Cooperative Type, 2010

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 three points 

higher for the very largest cooperatives 

than for the other sizes. As discussed 

earlier in COGS, those cooperatives 

with a low COGS would have high 

gross margins. 
Cooperative Statistics, 2010 19

Table 7–Cooperatives’ gross and net business volumes by commodity, 2010 & 20091

 

Commodity Gross volume Net volume

2010 2009 2010 2009 

Products marketed Billion $ 

Beans & peas 

 (dry edible) .163 .166 .161 .164

Cotton 2.387 2.354 2.300 2.242

Dairy 32.518 30.543 29.377 27.615

Fish .225 .200 .225 .200

Fruit & vegetable 7.723 7.547 5.449 5.445

Grain & oilseed2 40.951 44.296 40.441 43.772

Livestock 3.633 3.089 3.539 2.986

Nut .905 .814 .905 .814

Poultry3 1.174 1.177 1.174 1.177

Rice 1.531 1.686 1.531 1.686

Sugar 4.890 4.577 3.983 3.801

Tobacco .243 .168 .243 .168

Wool and mohair .005 .005 .005 .005

Other marketing4 4.786 4.769 4.520 4.483

Total marketing 101.134 101.391 93.853 94.558

 

Supplies purchased 

Crop protectants 8.095 7.710 5.679 5.477

Feed 10.824 11.050 8.597 8.783

Fertilizer 11.119 12.223 9.419 10.627

Petroleum 24.482 23.264 16.393 15.756

Seed 4.256 3.932 2.596 2.517

Other supplies5 5.144 4.819 4.513 4.201

Total supplies 63.920 62.999 47.198 47.362

 

Services and 

 other income6 5.013 4.940 5.013 4.940

 

Total business 170.067 169.330 146.064 146.860

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.

For service cooperatives, service is 100 percent 

on their income statement. By cooperative size, service income is the most important for smaller cooperatives (15 percent of sales) and diminishes as size 

increases to cooperatives with over $500 million 

in sales (1 percent of sales). Many of the cottonginning cooperatives have a significant amount of 

service income; hence, service income ranges from 

33 percent to 59 percent of sales for these cooperatives. 

Operating Expenses

There are only four accounts for expenses in 

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

The wage account includes all employee expenses, 

some of which are salaries and wages, payroll taxes, 

employee insurance, unemployment compensation, 

and pension expense. The all other account would 

include administrative expenses, which are overhead costs associated with a cooperative and indirectly related to revenue production. These include 

professional services, office supplies, telephone, 

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

meetings. The all other account would also include 

general expenses, which are directly related to 

revenue production, such as advertising and promotion; auto and truck delivery; insurance; property, 

business and other taxes and licenses; rent and lease 

expenses; plant supplies and repairs; repairs and 

maintenance; utilities; miscellaneous; bad debts; 

and other. 

Wage expenses were the highest for smaller 

cooperatives and fell as cooperative size increased, 

from 13 percent for the smallest cooperatives to 4 

percent for the largest. Wage expenses were higher 

for service cooperatives, because they are generally small and lack other sales to spread out wage 

costs. Artificial-insemination cooperatives had wage 

expenses that were over 43 percent of sales, those of 

smaller cotton-ginning cooperatives averaged over 

33 percent of sales. Dairy, cotton, grain and oilseed 

and larger and middle livestock marketing (auctions), biofuels, smaller rice, tobacco, and smaller 

sugar cooperatives had lower wage expenses relative to sales.

Depreciation expenses did not change much with 

cooperative size; their range was just over 1 point, 
20 Cooperative Statistics, 2010

Table 8–Combined assets of cooperatives, 20101

Principal product(s) Assets Investments Investments in

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

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

Products No. Billion $ Percent

 marketed

Cotton 12 1.024 .018 1.043 1.8

Cotton-ginning 157 .414 .072 .486 14.9

Dairy 138 7.128 .128 7.256 1.8

Fish 37 .076 .000 .076 0.0

Fruit & vegetable 138 4.399 .111 4.510 2.5

Grain & oilseed 519 13.125 1.314 14.439 9.1

Livestock &poultry 69 .662 .015 .677 2.2

Rice 12 .760 .010 .771 1.4

Sugar 27 2.829 .267 3.096 8.6

Other marketing4 109 1.628 .029 1.657 1.8

Total marketing 1,218 32.046 1.966 34.012 5.8

 

Total supplies 975 28.279 2.334 30.613 7.6

 

Total services 117 .387 .036 .423 8.4

 

Total 2,310 60.712 4.335 65.047 6.7

1

 Totals may not add due to rounding.

2

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

classified according to predominant commodity or function as indicated by business

volume.

3

 Also includes investments in CoBank.

4

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

ranging from 2 percent for the smallest cooperatives 

to 1 percent for the largest. Smaller cotton-ginning 

cooperatives and service cooperatives (except dairy, 

livestock, and fruit and vegetable) had depreciation 

expenses of at least 5 percent of sales. Most livestock cooperatives had little PP&E, so depreciation 

expenses were low: less than 1 percent. Most dairy 

and grain and oilseed cooperatives also had depreciation expenses of less than 1 percent.

Interest expenses were relatively minor for all 

sizes of cooperatives, comprising less than 0.5 

percent of total sales. Cotton service, rice-drier, 

and hulling cooperatives all 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 

gross margins minus total 

expenses but before taxes and 

patronage refunds from other 

cooperatives; so it is income 

generated by the cooperatives’ 

own operations. Net operating 

margins for all cooperatives in 

2010 was $3.6 billion, excluding inter-cooperative dividends 

and refunds (Table 11). Net operating margins was about $0.1 

billion higher than in 2009.

Net operating margins as a 

percent of net sales was 1.8 percent for all cooperatives by size 

(Table 9). Most service cooperatives (except dairy and livestock), artificial-insemination, 

large processed and fresh fruit 

and vegetable, large cottonginning, and small nut cooperatives had high net operating margins. Small cottonginning, dairy, livestock, small fish, large poultry, 

and smaller sugar marketing cooperatives had low 

or negative net operating margins. 

Patronage Income

Patronage refunds received, or income from other 

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

was based on business volume and consisted of cash 

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

CoBank received both cash and non-cash patronage 

income. The non-cash patronage from CoBank was 

from investment in the bank, which was usually 

required in proportion to the funds borrowed.

Patronage refunds received from other coopera-
Cooperative Statistics, 2010 21

Table 9–Common size analysis by cooperative size, 2010

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

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

Balance sheet Percent of total assets

Current assets 59.60 59.32 60.66 60.22 54.08 56.16

Other assets 9.41 13.76 5.35 3.21 7.42 7.18

Investments 6.69 2.92 10.09 11.19 13.62 9.03

PP&E1 (net) 24.30 24.00 23.90 25.38 24.88 27.63

Total assets 100.00 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 43.26 42.58 45.05 45.14 35.45 31.00

Total liabilities 60.33 63.80 60.34 54.91 44.20 41.37

Allocated equity 27.17 27.88 23.16 27.12 37.27 49.93

Retained earnings 12.50 8.32 16.50 17.97 18.54 8.71

Total equity 39.67 36.20 39.66 45.09 55.80 58.63

Total equity and liabilities 100.00 100.00 100.00 100.00 100.00 100.00

Income statement Percent of total sales

Total sales 100.00 100.00 100.00 100.00 100.00 100.00

Cost of goods sold 90.15 91.17 88.99 88.92 86.19 83.99

Gross margin 9.85 8.83 11.01 11.08 13.81 16.01

 

Service and other income 2.29 1.32 2.90 3.66 7.30 14.76

Gross revenue 12.14 10.14 13.91 14.74 21.11 30.77

Expenses

Wages 4.86 4.02 5.70 5.83 8.66 12.53

Depreciation 1.15 0.98 1.30 1.39 1.81 2.29

Interest 0.47 0.41 0.58 0.50 0.64 0.76

Other 3.83 2.91 4.57 5.15 7.75 12.96

Total expenses 10.30 8.31 12.14 12.88 18.86 28.54

 

Net operating margins 1.84 1.83 1.78 1.86 2.25 2.23

Patronage income 0.42 0.13 0.69 0.91 1.47 1.45

Non-operating income 0.33 0.21 0.51 0.48 0.62 0.14

Net income before taxes 2.59 2.17 2.98 3.25 4.34 4.18

Taxes 0.19 0.12 0.30 0.29 0.24 0.14

Net income 2.40 2.04 2.68 2.96 4.10 4.04

Ratios Percent or number

Current 1.38 1.39 1.35 1.33 1.53 1.81

Debt-to-asset 0.60 0.64 0.60 0.55 0.44 0.41

Debt-to-equity 1.52 1.76 1.52 1.22 0.79 0.71

Retained-earnings-to-equity 31.50 22.97 41.61 39.85 33.22 14.85

Equity-to-assets 39.67 36.20 39.66 45.09 55.80 58.63

Adjusted-equity-to-assets 69.91 63.04 72.16 82.20 86.44 84.97

Return-on-assets 7.77 7.39 8.11 8.24 8.92 6.61

Return-on-member-equity 22.41 21.05 26.43 23.91 19.71 10.83

 

Extra value index +2 8.78 8.46 9.13 9.53 8.97 5.47

Extra value index +5 6.68 6.57 6.96 7.07 6.37 2.92

Extra value index +10 3.19 3.42 3.35 2.96 2.05 -1.33

1

 Property, plant, and equipment
22 Cooperative Statistics, 2010

Table 10–Combined balance sheet data of 

cooperatives, 20101

Principal product(s) 

marketed and Total Total Net 

major function Co-ops assets liabilities worth 

 

Products 

marketed No. Billion dollars

Cotton 12 1.04 .62 .42

Cotton-ginning 157 .49 .21 .28

Dairy 138 7.26 4.53 2.73

Fish 37 .08 .05 .03

Fruit & vegetable 138 4.51 3.12 1.39

Grain & oilseed 519 14.44 9.11 5.33

Livestock & poultry 69 .68 .46 .22

Rice 12 .77 .45 .32

Sugar 27 3.10 1.83 1.27

Other marketing2 109 1.66 .74 .92

Total marketing 1,218 34.01 21.11 12.90

 

Total supplies 975 30.61 17.91 12.70

 

Total services 117 .42 .16 .27

Total 2,310 65.05 39.18 25.87

 

 

1

 Totals may not add due to rounding.

2

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

Table 11–Cooperatives’ net income before 

taxes, 20101

 

Principal product(s) Patronmarketed and Income Net age

major before operating infunction Co-ops taxes margins come2

Products No. Million dollars

marketed

Cotton 12 65.0 63.7 1.3

Cotton-ginning 157 83.2 48.9 34.3

Dairy 138 399.7 372.0 27.6

Fish 37 3.4 3.4 .0

Fruit & vegetable 138 557.7 552.3 5.4

Grain & oilseed 519 1,000.2 792.0 208.2

Livestock & poultry 69 12.5 11.6 .9

Rice 12 10.7 9.9 .8

Sugar 27 120.4 118.1 2.2

Other marketing3 109 81.1 79.4 1.7

Total marketing 1,218 2,333.9 2,051.4 282.6

 

Total supplies 975 1,904.4 1,498.0 406.4

 

Total services 117 43.7 41.1 2.6

Total 2,310 4,282.1 3,590.5 691.6

 

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, nuts, tobacco, wool, and 

other marketing.

tives, including CoBank, totaled $692 million, down 

23 percent from $904 million in 2009 (Appendix 

Figure 6). In 2001, refunds from other cooperatives 

totaled $316 million, or 23 percent of net income 

before taxes. By 2010, refunds had fallen to 16 percent of net income before taxes.

Patronage refunds were a little less than 1.5 percent of sales for the smallest cooperatives, and fell 

to 0.1 percent for the largest (Table 9). All cottonginning cooperatives had patronage refunds of at 

least 6 percent of sales. Livestock, fish, poultry, biofuels, nut, rice, tobacco, wool, storage, and hulling 

cooperatives had virtually no patronage refunds.

Non-Operating Income

Non-operating income is income not generated 

by sales. It could be interest from investments. It 

also could come from the sale of PP&E, rentals, and 

extraordinary items. Sometimes PP&E are sold to 

generate income, but usually they are fully depreciated. When sold, if the market value is greater than 

the book value, income is generated. In some cases, 

disposal of a fully depreciated asset may mean a 

loss. Rental income from unused facilities or equipment provides income flows. Extraordinary items 

might be either a gain or a loss. A gain could result 

from a fire loss where the insurance settlement was 

greater than the book value. A loss might occur 

from flood damage for which the cooperative had 

no coverage. 
Cooperative Statistics, 2010 23

For all sizes of cooperatives, non-operating income averaged less than 1 percent of sales.

Net Income Before Taxes

Net income before taxes (NIBT) was $4.3 billion, 

an increase of 4 percent from the $4.1 billion in 

2009. Net income in 2010 was over four times the 

NIBT of $1.0 billion in 2001 (Appendix Table 7 and 

Figure 14). 

0.0

1.0

2.0

3.0

4.0

5.0

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Billion dollars

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

Netoperating

margins

Income

from other

cooperatives1

Netincome

before taxes

0 500 1000 1500 2000

Rice

Livestock and poultry

Service

Cotton

Other marketing

Sugar

Dairy

Fruit and vegetable

Grain and oilseed

Supply

Million dollars

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

Netoperating margins

Income from other cooperatives1

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

of Cooperative, 2010

Figure 14–Cooperatives’ Net Income Before Taxes,

2001-2010

Marketing cooperatives’ NIBT of 

$2.3 billion was down 21 percent from 

the $2.9 billion generated in 2009. Nut, 

livestock, cotton, and fish cooperatives 

all had increases in net income before 

taxes. 

Total net income of supply cooperatives was $1.9 billion in 2010, more 

than double the $0.7 billion in 2009 

(Figure 15). This accounted for 44 percent of cooperatives’ total net income 

in 2010, up from 29 percent in 2009 

(Appendix Figure 7). 

Losses totaled $160 million in 

2010, a 32-percent decrease from the 

$237 million in losses in 2009. Supply 

cooperatives accounted for 54 percent 

of the losses, down from 59 percent in 

2009 (Appendix Figure 8). The number of cooperatives with losses was 

down from 267 to 236, a decrease of 

12 percent. 

Income Taxes

Cooperatives paid income taxes 

on earnings not allocated to members 

(retained earnings) and on dividend 

payments. Each cooperative’s board 

determined what amounts of income 

were allocated to retained earnings and 

to members. Non-member business has 

an impact on retained earnings because 

cooperatives can allocate the earnings 

to nonmembers or retain the income. 

Cooperatives paid $320 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 percent), but fell to 2.0 percent for the 

largest cooperatives. Cotton-service, cotton-ginning 

(other than the smallest), large processed and fresh 

fruit and vegetable, rice-drier, small transportation, 

storage, and hulling cooperatives all had higher than 

average net incomes while livestock, smaller fish, 

larger poultry, and middle and small sugar-market-
24 Cooperative Statistics, 2010

ing cooperatives had lower levels of net income 

relative to sales. 

Selected Financial Ratios

Financial ratios express relationships between 

items in the balance sheet and income statements of 

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

can indicate problem areas, serve as guidelines for 

planning, and aid in formulating actions. However, 

ratio interpretation is largely subjective.

Nine financial ratios were used to measure cooperative performance or financial condition—the 

current ratio, debt-to-asset, debt-to-equity, retainedearnings-to-total-equity, equity-to-assets, adjustedequity-to-assets, return-on-assets, return-on-member-equity, and extra value index. 

The formulas for these ratios are:

o Current = current assets/current liabilities

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

debt = all liabilities)

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

assets)

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

earnings/total equity

o Equity-to-assets ratio = total equity/total assets

o Adjusted-equity-to-assets ratio = total equity/(total assets-current liabilities)

o Return-on-assets before interest and taxes = 

(NIBT + interest expense)/total assets

o Return-on-member-equity = net income/allocated equity 

o Extra value index = net income after taxes –(total equity*(LIBOR 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 of mainly inventory.

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

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

long-term debt, or disposing of unproductive fixed 

assets and retaining proceeds. Current liabilities 

may also be reduced by retaining a greater portion 

of allocated savings (reducing the cash portion). 

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

into cash. Operationally, this same high ratio tends 

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

accounts receivable or inventory. The current ratios 

of six sizes of cooperatives are shown in Table 9 

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

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

meaning current assets exceed current liabilities 

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

could be sold to cover all short-term liabilities and 

the cooperative would still have some liquid assets 

left. By type, the current ratio exceeds two for artificial-insemination, small rice, small sugar, rice-drier, 

small transportation, and dairy service 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 60 percent of assets owned by cooperatives with sales from $100 to $500 million in sales, 

and rose to 64 percent for the largest cooperatives. 

Artificial-insemination, small cotton gins, and most 

service cooperatives had the lowest use of debt 

financing. 

Debt-to-equity ratio shows the financial flexibility and the long-term capital structure of the cooperative. High ratios indicate inadequate borrowing 

power. A low ratio is more favorable and financially 

makes the cooperative more independent of outside 
Cooperative Statistics, 2010 25

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

Operationally, a low ratio tends to reduce interest 

cost. Improvement may be gained by disposing of 

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

loans. Other ways include increasing local equity by 

generating higher levels of net operating margins, 

slowing down equity retirement programs, selling 

additional capital stock, or retaining more allocated 

savings.

As cooperatives’ sizes grew, so did their use of 

debt. The ratio was 0.7 for the smallest cooperatives, and it grew to 1.8 for the largest. Artificialinsemination, cotton-ginning, small dairy, large 

to small supply and mixed supply, biofuels, small 

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 nonmember 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, where it falls to 23 percent. 

The smallest cooperatives have retained earnings of 

15 percent relative to total equity. Cotton-ginning, 

middle-size sugar, and most service cooperatives 

have lower retained-earnings-to-total-equity ratios.

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 – debt-to-asset ratio).

Smaller cooperatives are generally stronger 

financially, because they finance a larger proportion 

of their assets with equity. The equity-to-assets ratio 

ranges from 59 for the smallest cooperatives to 36 

for the largest. With an equity-to-assets ratio of 36, 

only about one-third of a cooperative’s assets is financed by equity and almost two-thirds are financed 

by debt. Small farm supply, artificial-insemination, 

small cotton-ginning, biofuels, small sugar, and service cooperatives all have an equity-to-assets 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 

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 if 85 but this ratio falls to 63 for the 

largest cooperatives, indicating that larger cooperatives use more long-term debt. Small farm-supply, 

small mixed farm-supply, small mixed grain and 

oilseed, small grain and oilseed, artificial-insemination, small cotton-ginning, small dairy, small fresh 

and processed fruit and vegetable, middle to small 

livestock, small poultry, small biofuels, dry bean 

and pea, and many 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 investor-oriented 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 financially indicates a comparatively 

high rate of return-on-assets employed. This ratio 

rose from 7 for the smallest cooperatives to 8 for 
26 Cooperative Statistics, 2010

middle-size cooperatives and then fell to 7 for the 

largest cooperatives. It is high for small rice, large 

cotton-ginning, rice-drier, storage, and hulling cooperatives.

Return-on-member-equity represents members’ 

investment in their cooperative. It is an important 

measure of profitability. This ratio is sensitive to 

the amount of debt capital in the cooperative and is 

best used in conjunction with other measures such 

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

favorable and tends to decrease financial leverage. 

However, a high ratio may also be a symptom of 

insufficient investment. Operationally, a high ratio 

tends to reduce interest cost over time but may occur when both total debt and interest costs are high. 

By size, the highest return-on-member-equity 

was over 26 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 11. Large cotton-ginning, large 

dairy, large processed and fresh fruit and vegetable, 

large farm supply, larger mixed grain and oilseed, 

most grain and oilseed, smaller fish, dry bean and 

pea, small sugar, rice-drier, storage, and hulling 

cooperatives have very high returns on member 

equity. 

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 is 

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 index 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 as 

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 0.79 for December 2010. The basic 

LIBOR+2 rate, represented in Table 9 as EVI+2 

(2.79), reflects the rate that banks in the United 

States might charge on loans to firms with better 

than average credit ratings. EVI+5 (5.79) represents 

a moderate premium for risk or LIBOR rate plus 

500 basis points, while EVI +10 (10.79) is a higher 

premium for risk as it is LIBOR rate plus 1,000 

basis points.

Smaller cooperatives, which generally have a 

larger proportion of equity relative to assets, have 

a lower EVI. For EVI+2, small cooperatives generated almost 5.5 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 1 cent.

Larger cotton-ginning, middle-size fish, large nut, 

small rice, rice-drier, storage, and hulling cooperatives all had a high EVI (Appendix Table 6). The 

EVI used in these tables was the same for all cooperatives. The LIBOR rate is a proxy for the cooperative’s cost of capital. Since the cooperative would 

know this value, it could be plugged into the formula to generate the cooperative’s individual EVI.

Bibliography

Liebrand, Carolyn Betts, Financial Profile of Dairy 

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

April 2010.

Penn, Jacqueline E., Katherine C. DeVille, and E. 

Eldon Eversull, Cooperative Statistics, 2009, U.S. 

Department of Agriculture, Rural Development, 

Service Report 70, November 2010. 
Cooperative Statistics, 2010 27

APPENDIX TABLES

Appendix Table 1–Number of cooperatives by major business activity, 2010-2006 

 

Major business activity 2010 2009 2008 2007 2006

Products marketed: Number

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

Cotton 12 12 12 12 12

Cotton-ginning 157 166 176 187 185

Dairy 138 140 143 156 163

Fish 37 35 39 43 43

Fruit and vegetable 138 144 154 153 160

Grain and oilseed1 519 555 591 593 660

Livestock 59 57 58 57 48

Nut 17 16 16 16 15

Poultry2 10 10 13 13 13

Rice 12 14 14 14 14

Sugar3 27 31 31 32 40

Tobacco 8 9 11 11 15

Wool and mohair 54 57 62 63 51

Other marketing 25 25 28 29 29

Total marketing 1,218 1,277 1,354 1,385 1,454

 

Total supplies 975 992 1,011 1,094 1,146

 

Total services 117 121 110 116 135

Total 2,310 2,390 2,475 2,595 2,735

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.
28 Cooperative Statistics, 2010

Appendix Table 2–Cooperative memberships, by major business activity, 2010-2006 

 

Major business activity 2010 2009 2008 2007 2006

Products marketed: Thousands

Bean and pea (dry edible) 1.8 1.7 1.5 1.6 1.6

Cotton 28.2 29.2 32.1 41.5 42.6

Cotton-ginning 25.5 26.0 27.2 26.6 28.5

Dairy 44.2 53.3 61.5 62.1 66.9

Fish 5.4 5.3 5.6 5.8 6.0

Fruit and vegetable 22.2 32.2 23.8 24.8 25.9

Grain and oilseed1 414.2 437.3 460.7 451.4 469.8

Livestock 75.4 73.3 76.1 78.2 82.3

Nut 15.2 16.2 15.3 15.4 15.0

Poultry2 0.5 0.5 0.5 0.5 0.6

Rice 11.6 11.6 11.7 12.1 12.2

Sugar3 9.4 10.9 10.8 11.5 14.2

Tobacco 65.0 65.1 65.3 66.2 158.6

Wool and mohair 9.6 10.0 10.0 10.1 9.1

Other marketing 6.4 6.5 6.7 6.0 5.7

Total marketing 734.5 779.0 808.8 813.9 938.9

 

Total supplies 1,470.7 1,451.6 1,508.8 1,604.6 1,608.8

 

Total services 37.8 32.0 36.2 40.2 48.3

Total 2,242.9 2,262.5 2,353.8 2,458.7 2,596.1

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.
Cooperative Statistics, 2010 29

Appendix Table 3–Cooperatives’ gross business volume, by type of cooperative, 2010-

2006 

Major business activity 2010 2009 2008 2007 2006

Products marketed: Billion $

Bean and pea (dry edible) 0.2 0.2 0.2 0.1 0.1

Cotton 2.4 2.4 2.9 2.7 3.2

Dairy 32.5 30.5 40.8 38.4 28.8

Fish 0.2 0.2 0.2 0.2 0.2

Fruit and vegetable 7.7 7.5 7.7 6.9 7.1

Grain and oilseed1 41.0 44.3 47.7 29.0 22.3

Livestock 3.6 3.1 3.3 3.4 3.4

Nut 0.9 0.8 0.8 0.8 0.8

Poultry2 1.2 1.2 1.5 1.4 1.4

Rice 1.5 1.7 1.6 1.1 1.1

Sugar3 4.9 4.6 4.9 4.9 4.3

Tobacco 0.2 0.2 0.1 0.1 0.2

Other marketing4 4.8 4.8 6.5 5.2 4.8

Total marketing 101.1 101.4 118.2 94.1 77.6

 

Supplies purchased: 

Crop protectants 8.1 7.7 6.7 3.7 3.5

Feed 10.8 11.1 10.9 8.7 7.4

Fertilizer 11.1 12.2 12.7 7.7 6.8

Petroleum 24.5 23.3 30.6 22.0 20.4

Seed 4.3 3.9 3.5 2.8 2.4

Other supplies 5.1 4.8 6.1 4.9 4.5

Total supplies 63.9 63.0 70.5 49.8 44.9

 

Services and other income 5.0 4.9 4.7 4.1 4.2

Total 170.1 169.3 193.5 148.0 126.8

1

 Cooperatives primarily handling grains and oilseeds, excluding cottonseed. 

2

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

3

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

4

 Includes wool and mohair and other marketing.
30 Cooperative Statistics, 2010

Appendix Table 4–Cooperatives’ net business volume, by type of cooperative 2010-2006 

 

Major business activity 2010 2009 2008 2007 2006

Products marketed: Billion $

Bean and pea (dry edible) 0.2 0.2 0.2 0.1 0.1

Cotton 2.3 2.2 2.9 1.4 1.8

Dairy 29.4 27.6 39.1 36.0 27.2

Fish 0.2 0.2 0.2 0.2 0.2

Fruit and vegetable 5.4 5.4 5.4 4.3 5.7

Grain and oilseed1 40.4 43.8 46.6 28.5 21.9

Livestock 3.5 3.0 3.2 3.2 3.3

Nut 0.9 0.8 0.8 0.8 0.8

Poultry2 1.2 1.2 1.5 1.4 1.4

Rice 1.5 1.7 1.6 1.1 1.1

Sugar3 4.0 3.8 4.1 4.0 3.2

Tobacco 0.2 0.2 0.1 0.1 0.2

Other marketing4 4.5 4.5 6.0 5.0 4.6

Total marketing 93.9 94.6 111.7 86.1 71.5

 

Supplies purchased: 

Crop protectants 5.7 5.5 4.5 3.2 3.2

Feed 8.6 8.8 9.4 7.5 6.4

Fertilizer 9.4 10.6 10.0 6.9 6.1

Petroleum 16.4 15.8 19.5 14.9 13.7

Seed 2.6 2.5 2.4 1.9 1.5

Other supplies 4.5 4.2 5.4 4.3 3.9

Total supplies 47.2 47.4 51.2 38.6 34.9

 

Services and other income 5.0 4.9 4.7 4.1 4.2

Total 146.1 146.9 167.6 128.8 110.6

1

 Cooperatives primarily handling grains and oilseeds, excluding cottonseed. 

2

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

3

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

4

 Includes wool and mohair and other marketing.
Cooperative Statistics, 2010 31

 Assets Investments 

 from own in other Total Total Net 

Year operations cooperatives1 assets liabilities worth 

 Billion dollars

2001 42.67 5.17 47.84 28.03 19.81

2002 41.14 5.52 46.66 27.48 19.19

2003 42.10 4.05 46.15 26.18 19.98

2004 39.25 4.73 43.97 25.18 18.79

2005 41.06 4.33 45.39 26.40 19.00

2006 44.36 3.66 48.02 28.17 19.85

2007 53.44 4.20 57.64 36.47 21.18

2008 65.61 4.29 69.89 46.77 23.12

2009 57.14 4.04 61.19 37.34 23.84

2010 60.71 4.34 65.05 39.18 25.87

 

 Percent of total assets 

2001 89.2 10.8 100.0 58.6 41.4

2002 88.2 11.8 100.0 58.9 41.1

2003 91.2 8.8 100.0 56.7 43.3

2004 89.2 10.8 100.0 57.3 42.7

2005 90.5 9.5 100.0 58.1 41.9

2006 92.4 7.6 100.0 58.7 41.3

2007 92.7 7.3 100.0 63.3 36.7

2008 93.9 6.1 100.0 66.9 33.1

2009 93.4 6.6 100.0 61.0 39.0

2010 93.3 6.7 100.0 60.2 39.8

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

Appendix Table 5–Combined balance sheet data for cooperatives, 2001-2010
32 Cooperative Statistics, 2010

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 53.18 66.87 72.39 51.27 56.82

Other assets 15.33 7.57 4.03 1.41 7.94

Investments 5.05 12.70 1.86 1.04 10.38

PP&E1 (net) 26.44 12.86 21.72 46.29 24.86

Total assets 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 26.29 19.42 38.40 37.50 43.25

Total liabilities 37.47 28.59 59.25 61.12 52.40

Allocated equity 36.44 49.52 27.59 25.54 50.07

Retained earnings 26.09 21.90 13.16 13.34 -2.47

Total equity 62.53 71.41 40.75 38.88 47.60

Total equity and liabilities 100.00 100.00 100.00 100.00 100.00

 

Income statement Percent of total sales Percent of service

Total sales 100.00 100.00 100.00 100.00

Cost of goods sold 28.93 33.23 88.04 87.52

Gross margin 71.07 66.77 11.96 12.48

 

Service and other income 20.24 5.14 2.80 1.06 100.00

Gross revenue 91.31 71.92 14.76 13.54 100.00

Expenses

Wages 43.18 44.08 3.87 6.06 26.08

Depreciation 3.84 2.30 0.89 1.78 4.17

Interest 0.46 0.00 1.05 0.81 3.96

Other 40.79 19.69 5.86 4.52 46.05

Total expenses 88.27 66.07 11.67 13.17 80.26

 

Net operating margins 3.04 5.85 3.09 0.37 19.74

Patronage income 0.27 0.79 0.04 0.24 0.81

Non-operating income 1.57 1.65 -0.40 0.06 0.40

Net income before taxes 4.88 8.29 2.72 0.66 20.94

Taxes 0.81 0.51 -0.01 -0.48 0.03

Net income 4.07 7.78 2.74 1.14 20.91

Ratios Percent or number

Current 2.02 3.44 1.89 1.37 1.31

Debt-to-asset 0.37 0.29 0.59 0.61 0.52

Debt-to-equity 0.60 0.40 1.45 1.57 1.10

Retained-earnings-to-equity 41.72 30.66 32.30 34.31 -5.18

Equity-to-assets 62.53 71.41 40.75 38.88 47.60

Adjusted-equity-to-assets 84.84 88.63 66.15 62.22 83.88

Return-on-assets 6.89 11.19 9.68 2.16 9.62

Return-on-member-equity 14.43 21.21 25.41 6.53 16.14

 

Extra value index +2 4.77 10.56 9.54 0.93 11.90

Extra value index +5 2.23 7.90 7.55 -0.93 9.38

Extra value index +10 -2.02 3.47 4.25 -4.04 5.19

1

(Property, plant, and equipment)

Appendix table 6–Common size analysis, by cooperative type and size, 2010 
Cooperative Statistics, 2010 33

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 41.76 33.98 38.25 37.67

Other assets 3.31 3.21 7.66 9.92

Investments 19.36 15.49 10.17 9.72

PP&E1 (net) 35.56 47.32 43.92 42.70

Total assets 100.00 100.00 100.00 100.00

 

Current liabilities 34.52 24.95 26.47 20.11

Total liabilities 48.50 37.26 41.37 31.57

Allocated equity 45.96 51.46 51.69 58.76

Retained earnings 5.54 11.27 6.94 9.67

Total equity 51.50 62.74 58.63 68.43

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 80.65 74.30 81.46 78.13

Gross margin 19.35 25.70 18.54 21.87

 

Service and other income 32.70 37.02 47.11 58.91

Gross revenue 52.05 62.73 65.65 80.77

Expenses

Wages 13.22 16.22 19.63 33.89

Depreciation 4.17 5.79 6.33 11.49

Interest 1.08 0.79 1.24 1.16

Other 23.54 30.24 33.32 44.23

Total expenses 42.01 53.03 60.51 90.78

 

Net operating margins 10.04 9.70 5.14 -10.01

Patronage income 7.68 6.45 7.26 9.00

Non-operating income 1.46 1.30 0.75 2.27

Net income before taxes 19.18 17.44 13.15 1.27

Taxes 0.06 0.07 0.06 -0.18

Net income 19.12 17.37 13.09 1.44

Ratios Percent or number

Current 1.21 1.36 1.45 1.87

Debt-to-asset 0.48 0.37 0.41 0.32

Debt-to-equity 0.94 0.59 0.71 0.46

Retained-earnings-to-equity 10.76 17.97 11.84 14.13

Equity-to-assets 51.50 62.74 58.63 68.43

Adjusted-equity-to-assets 78.65 83.59 79.73 85.65

Return-on-assets 23.84 18.39 11.72 1.18

Return-on-member-equity 48.94 34.05 20.62 1.19

 

Extra value index +2 32.16 21.02 12.28 -1.51

Extra value index +5 29.80 18.51 9.88 -4.08

Extra value index +10 25.87 14.33 5.90 -8.36

 (continued next page)

Appendix table 6–Common size analysis, by cooperative type and size, 2010 (continued)
34 Cooperative Statistics, 2010

Appendix table 6–Common size analysis, by cooperative type and size, 2010 (continued)

Type of cooperative Dairy and dairy products

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

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

Balance sheet Percent of total assets

Current assets 45.56 60.19 66.23 65.87 69.21

Other assets 28.90 6.25 4.76 2.29 2.27

Investments 1.16 1.14 2.73 7.54 13.98

PP&E1 (net) 24.37 32.41 26.28 24.30 14.55

Total assets 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 38.56 43.40 40.44 52.04 57.33

Total liabilities 64.25 57.45 60.22 55.80 64.79

Allocated equity 30.52 38.33 24.87 31.27 28.48

Retained earnings 5.22 4.22 14.92 12.92 6.73

Total equity 35.75 42.55 39.78 44.20 35.21

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 92.71 87.82 92.07 92.98 93.92

Gross margin 7.29 12.18 7.93 7.02 6.08

 

Service and other income 0.20 0.42 0.16 0.78 1.45

Gross revenue 7.49 12.60 8.09 7.80 7.52

Expenses

Wages 3.33 3.39 3.54 2.77 1.54

Depreciation 0.83 0.72 0.79 0.61 0.44

Interest 0.37 0.20 0.23 0.10 0.14

Other 2.34 6.75 2.12 3.65 4.96

Total expenses 6.87 11.06 6.69 7.13 7.08

 

Net operating margins 0.62 1.54 1.40 0.67 0.45

Patronage income 0.09 0.03 0.09 0.15 0.33

Non-operating income 0.52 0.07 0.48 0.08 0.12

Net income before taxes 1.23 1.63 1.97 0.90 0.89

Taxes 0.03 0.07 0.13 0.03 0.00

Net income 1.20 1.56 1.84 0.88 0.89

Ratios Percent or number 

Current 1.18 1.39 1.64 1.27 1.21

Debt-to-asset 0.64 0.57 0.60 0.56 0.65

Debt-to-equity 1.80 1.35 1.51 1.26 1.84

Retained-earnings-to-equity 14.61 9.92 37.49 29.24 19.12

Equity-to-assets 35.75 42.55 39.78 44.20 35.21

Adjusted-equity-to-assets 58.18 75.18 66.79 92.15 82.50

Return-on-assets 6.01 8.71 9.09 5.60 9.31

Return-on-member-equity 14.73 19.32 30.61 15.70 27.99

 

Extra value index +2 5.69 10.99 10.92 7.67 16.38

Extra value index +5 3.95 8.73 8.92 4.90 13.91

Extra value index +10 1.04 4.98 5.58 0.29 9.78
Cooperative Statistics, 2010 35

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 67.76 57.07 66.33 52.55

Other assets 4.57 10.50 5.97 9.16

Investments 11.43 22.96 12.25 18.16

PP&E1 (net) 16.24 9.48 15.46 20.13

Total assets 100.00 100.00 100.00 100.00

 

Current liabilities 55.87 41.85 45.74 38.76

Total liabilities 63.10 43.13 52.23 47.87

Allocated equity 26.74 49.02 35.28 56.47

Retained earnings 10.15 7.86 12.49 -4.34

Total equity 36.90 56.87 47.77 52.13

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 94.38 95.20 91.24 89.82

Gross margin 5.62 4.80 8.76 10.18

 

Service and other income 1.60 0.96 3.34 3.84

Gross revenue 7.22 5.77 12.11 14.02

Expenses

Wages 1.99 2.19 3.47 7.03

Depreciation 0.38 0.23 0.54 0.94

Interest 0.20 0.06 0.28 0.69

Other 4.14 3.25 6.55 5.41

Total expenses 6.70 5.73 10.85 14.07

 

Net operating margins 0.52 0.03 1.26 -0.05

Patronage income 0.49 0.41 0.26 0.41

Non-operating income 0.04 0.65 0.22 0.15

Net income before taxes 1.05 1.09 1.73 0.52

Taxes 0.01 0.01 0.01 0.00

Net income 1.04 1.08 1.72 0.51

Ratios Percent or number

Current 1.21 1.36 1.45 1.36

Debt-to-asset 0.63 0.43 0.52 0.48

Debt-to-equity 1.71 0.76 1.09 0.92

Retained-earnings-to-equity 27.52 13.82 26.14 -8.32

Equity-to-assets 36.90 56.87 47.77 52.13

Adjusted-equity-to-assets 83.62 97.81 88.03 85.12

Return-on-assets 8.83 6.80 10.65 2.85

Return-on-member-equity 27.60 13.00 25.77 2.15

 

Extra value index +2 14.40 8.23 14.30 -0.39

Extra value index +5 11.89 5.30 11.66 -2.94

Extra value index +10 7.71 0.41 7.26 -7.20

(continued next page)

Appendix table 6–Common size analysis, by cooperative type and size, 2010 (continued)
36 Cooperative Statistics, 2010

Appendix table 6–Common size analysis, by cooperative type and size, 2010 (continued)

Type of cooperative Fruit and vegetable (fresh sales only)

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

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

Balance sheet Percent of total assets

Current assets 55.67 49.86 45.31 51.05 65.99 89.93

Other assets 7.80 3.92 8.39 6.65 11.83 4.16

Investments 3.21 4.36 5.86 6.89 0.00 0.00

PP&E1 (net) 33.32 41.87 40.43 35.41 22.18 5.91

Total assets 100.00 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 38.58 38.16 30.63 35.75 42.93 88.46

Total liabilities 63.62 53.13 51.04 53.27 61.40 91.00

Allocated equity 19.36 32.04 31.58 35.15 25.73 6.71

Retained earnings 17.02 14.83 17.38 11.59 12.87 2.28

Total equity 36.38 46.87 48.96 46.73 38.60 9.00

Total equity and liabilities 100.00 100.00 100.00 100.00 100.00 100.00

Income statement Percent of total sales

Total sales 100.00 100.00 100.00 100.00 100.00 100.00

Cost of goods sold 79.94 70.58 75.50 79.11 83.83 87.13

Gross margin 20.06 29.42 24.50 20.89 16.17 12.87

 

Service and other income 1.79 4.78 3.69 6.62 20.73 4.09

Gross revenue 21.85 34.20 28.19 27.51 36.89 16.96

Expenses

Wages 10.53 13.67 12.06 11.59 15.05 9.86

Depreciation 1.54 2.01 1.63 2.17 2.09 1.19

Interest 0.35 0.48 1.80 0.62 0.86 0.57

Other 7.41 15.42 10.28 12.64 15.46 5.34

Total expenses 19.83 31.58 25.77 27.03 33.46 16.96

 

Net operating margins 2.02 2.62 2.42 0.49 3.43 0.00

Patronage income 0.06 0.12 0.14 1.02 0.00 0.28

Non-operating income 0.09 0.71 0.94 0.42 0.10 0.37

Net income before taxes 2.17 3.45 3.50 1.93 3.53 0.65

Taxes 0.23 0.13 0.07 0.03 0.05 0.00

Net income 1.94 3.32 3.43 1.90 3.48 0.65

Ratios Percent or number

Current 1.44 1.31 1.48 1.43 1.54 1.02

Debt-to-asset 0.64 0.53 0.51 0.53 0.61 0.91

Debt-to-equity 1.75 1.13 1.04 1.14 1.59 10.12

Retained-earnings-to-equity 46.79 31.63 35.50 24.80 33.34 25.35

Equity-to-assets 36.38 46.87 48.96 46.73 38.60 9.00

Adjusted-equity-to-assets 59.24 75.80 70.59 72.73 67.63 77.95

Return-on-assets 6.99 9.18 13.94 4.68 5.87 0.69

Return-on-member-equity 27.72 24.19 28.57 9.90 18.14 5.49

 

Extra value index +2 7.09 10.42 11.04 3.39 6.29 1.02

Extra value index +5 5.31 8.15 8.92 1.21 4.26 -1.32

Extra value index +10 2.35 4.36 5.39 -2.43 0.88 -5.21

 
Cooperative Statistics, 2010 37

Appendix table 6–Common size analysis, by cooperative type and size, 2010 (continued)

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

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

 million to $500 million to $150 million to $50 million $6 million 

Balance sheet Percent of total assets

Current assets 56.43 67.83 84.43 60.57 94.40

Other assets 13.70 5.77 2.67 1.87 2.29

Investments 1.71 1.65 0.44 17.88 0.41

PP&E1 (net) 28.16 24.75 12.45 19.68 2.90

Total assets 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 35.91 44.36 75.79 45.86 56.50

Total liabilities 71.94 69.90 83.24 53.47 58.60

Allocated equity 26.51 19.23 13.12 24.91 138.69

Retained earnings 1.55 10.87 3.65 21.62 -97.29

Total equity 28.06 30.10 16.76 46.53 41.40

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 74.18 76.70 88.69 70.33 82.65

Gross margin 25.82 23.30 11.31 29.67 17.35

 

Service and other income 3.35 1.90 1.24 1.84 9.49

Gross revenue 29.17 25.21 12.55 31.51 26.84

Expenses

Wages 9.42 17.07 4.21 17.23 12.20

Depreciation 2.25 2.31 0.73 1.71 0.86

Interest 0.78 1.36 0.97 1.02 0.63

Other 6.64 3.75 6.89 10.11 15.22

Total expenses 19.09 24.49 12.80 30.08 28.91

 

Net operating margins 10.09 0.72 -0.25 1.43 -2.07

Patronage income 0.04 0.00 0.05 0.45 0.05

Non-operating income -0.14 5.29 0.50 0.53 1.59

Net income before taxes 9.98 6.01 0.30 2.42 -0.43

Taxes 0.37 0.62 0.00 -0.16 0.07

Net income 9.61 5.39 0.30 2.57 -0.50

Ratios Percent or number

Current 1.57 1.53 1.11 1.32 1.67

Debt-to-asset 0.72 0.70 0.83 0.53 0.59

Debt-to-equity 2.56 2.32 4.97 1.15 1.42

Retained-earnings-to-equity 5.54 36.11 21.75 46.47 -235.03

Equity-to-assets 28.06 30.10 16.76 46.53 41.40

Adjusted-equity-to-assets 43.79 54.10 69.24 85.94 95.16

Return-on-assets 19.27 10.56 2.46 5.07 0.09

Return-on-member-equity 64.95 40.13 4.45 15.22 -0.17

 

Extra value index +2 25.64 12.36 0.48 4.61 -3.19

Extra value index +5 24.33 10.74 -1.59 2.03 -6.04

Extra value index +10 22.14 8.03 -5.06 -2.27 -10.80

(continued next page)
38 Cooperative Statistics, 2010

Appendix table 6–Common size analysis, by cooperative type and size, 2010 (continued)

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 57.73 62.18 53.82 56.83 55.33 47.89

Other assets 13.39 2.45 1.62 3.39 3.77 2.57

Investments 11.00 11.28 20.28 18.01 19.05 21.79

PP&E1 (net) 17.88 24.09 24.28 21.76 21.84 27.75

Total assets 100.00 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 37.75 43.47 33.69 39.51 41.90 34.79

Total liabilities 56.84 58.59 43.82 47.38 51.41 46.64

Allocated equity 20.45 26.03 30.76 28.24 29.27 31.35

Retained earnings 22.72 15.38 25.42 24.38 19.32 22.02

Total equity 43.16 41.41 56.18 52.62 48.59 53.36

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 92.77 87.27 86.27 85.02 85.84 83.81

Gross margin 7.23 12.73 13.73 14.98 14.16 16.19

 

Service and other income 0.22 1.97 2.29 2.15 2.78 1.77

Gross revenue 7.45 14.71 16.02 17.13 16.94 17.96

Expenses

Wages 3.48 6.09 6.95 7.79 8.09 9.07

Depreciation 0.79 1.31 1.33 1.42 1.55 1.62

Interest 0.34 0.57 0.35 0.47 0.60 0.69

Other 1.69 4.77 5.03 5.48 5.74 6.11

Total expenses 6.30 12.73 13.65 15.16 15.98 17.49

 

Net operating margins 1.15 1.98 2.37 1.96 0.97 0.47

Patronage income 0.24 1.30 1.73 1.87 1.95 1.83

Non-operating income 0.30 0.30 0.36 1.23 0.41 0.37

Net income before taxes 1.69 3.59 4.45 5.06 3.33 2.67

Taxes 0.16 0.60 0.83 0.60 0.33 0.28

Net income 1.53 2.99 3.62 4.46 3.00 2.39

Ratios Percent or number

Current 1.53 1.43 1.60 1.44 1.32 1.38

Debt-to-asset 0.57 0.59 0.44 0.47 0.51 0.47

Debt-to-equity 1.32 1.41 0.78 0.90 1.06 0.87

Retained-earnings-to-equity 52.63 37.15 45.24 46.34 39.76 41.26

Equity-to-assets 43.16 41.41 56.18 52.62 48.59 53.36

Adjusted-equity-to-assets 69.34 73.27 84.72 86.99 83.63 81.83

Return-on-assets 6.28 8.81 11.22 10.98 7.01 7.07

Return-on-member-equity 23.22 24.35 27.48 31.35 18.26 16.07

 

Extra value index +2 5.70 9.17 10.39 12.21 6.87 5.45

Extra value index +5 3.62 6.97 7.85 9.60 4.36 2.99

Extra value index +10 0.15 3.31 3.61 5.25 0.18 -1.10
Cooperative Statistics, 2010 39

Appendix table 6–Common size analysis, by cooperative type and size, 2010 (continued)

Type of cooperative Supply (with 100% supply sales)

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

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

Balance sheet Percent of total assets

Current assets 49.59 51.25 58.03 58.35 64.18

Other assets 7.01 2.82 3.75 6.08 9.65

Investments 19.55 23.26 16.79 15.17 6.59

PP&E1 (net) 23.85 22.67 21.43 20.40 19.58

Total assets 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 32.11 32.78 31.09 31.01 33.78

Total liabilities 40.61 38.47 36.65 39.62 42.32

Allocated equity 32.47 40.29 39.66 39.74 34.71

Retained earnings 26.92 21.24 23.69 20.64 22.96

Total equity 59.39 61.53 63.35 60.38 57.68

Total equity and liabilities 100.00 100.00 100.00 100.00 100.00

Income statement Percent of total sales

Total sales 100.00 100.00 100.00 100.00 100.00

Cost of goods sold 85.03 86.19 84.64 84.72 84.99

Gross margin 14.97 13.81 15.36 15.28 15.01

 

Service and other income 4.98 2.40 2.27 3.38 8.92

Gross revenue 19.95 16.20 17.63 18.66 23.93

Expenses

Wages 8.76 8.24 9.46 10.42 15.74

Depreciation 1.98 1.48 1.38 1.45 1.18

Interest 0.43 0.50 0.47 0.61 0.73

Other 6.64 5.07 5.13 5.58 6.16

Total expenses 17.81 15.29 16.43 18.06 23.80

 

Net operating margins 2.14 0.91 1.20 0.60 0.13

Patronage income 1.97 2.19 1.26 1.21 0.28

Non-operating income 2.82 0.45 0.44 0.39 0.19

Net income before taxes 6.92 3.55 2.90 2.20 0.60

Taxes 0.96 0.37 0.25 0.14 0.04

Net income 5.96 3.17 2.65 2.07 0.55

Ratios Percent or number

Current 1.54 1.56 1.87 1.88 1.90

Debt-to-asset 0.41 0.38 0.37 0.40 0.42

Debt-to-equity 0.68 0.63 0.58 0.66 0.73

Retained-earnings-to-equity 45.33 34.52 37.40 34.19 39.81

Equity-to-assets 59.39 61.53 63.35 60.38 57.68

Adjusted-equity-to-assets 87.49 91.53 91.93 87.52 87.10

Return-on-assets 11.98 8.33 6.69 5.03 2.17

Return-on-member-equity 29.92 16.21 13.27 9.31 2.62

 

Extra value index +2 11.87 7.17 5.07 2.93 -1.06

Extra value index +5 9.25 4.42 2.32 0.30 -3.67

Extra value index +10 4.88 -0.16 -2.28 -4.08 -8.02

(continued next page)
40 Cooperative Statistics, 2010

Appendix table 6–Common size analysis, by cooperative type and size, 2010 (continued)

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

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

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

Balance sheet Percent of total assets

Current assets 64.62 56.96 59.56 57.36

Other assets 1.97 3.01 2.67 3.39

Investments 12.91 17.02 15.67 16.60

PP&E1 (net) 20.50 23.00 22.09 22.66

Total assets 100.00 100.00 100.00 100.00

 

Current liabilities 48.56 42.56 43.75 40.35

Total liabilities 63.98 56.03 55.49 47.29

Allocated equity 18.92 18.64 24.32 35.06

Retained earnings 17.10 25.33 20.19 17.65

Total equity 36.02 43.97 44.51 52.71

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 90.06 89.66 87.28 87.43

Gross margin 9.94 10.34 12.72 12.57

 

Service and other income 3.38 3.56 3.51 3.08

Gross revenue 13.32 13.90 16.23 15.65

Expenses

Wages 5.99 6.31 7.05 7.18

Depreciation 1.35 1.40 1.54 1.67

Interest 0.56 0.54 0.62 0.54

Other 4.30 4.89 5.43 5.12

Total expenses 12.20 13.15 14.65 14.50

 

Net operating margins 1.12 0.75 1.58 1.14

Patronage income 0.92 1.70 1.49 1.43

Non-operating income 0.92 0.44 0.44 0.66

Net income before taxes 2.96 2.89 3.51 3.24

Taxes 0.32 0.41 0.32 0.26

Net income 2.64 2.48 3.19 2.98

Ratios Percent or number

Current 1.33 1.34 1.36 1.42

Debt-to-asset 0.64 0.56 0.55 0.47

Debt-to-equity 1.78 1.27 1.25 0.90

Retained-earnings-to-equity 47.48 57.61 45.37 33.49

Equity-to-assets 36.02 43.97 44.51 52.71

Adjusted-equity-to-assets 70.02 76.56 79.13 88.37

Return-on-assets 7.83 7.98 8.69 6.93

Return-on-member-equity 31.00 30.95 27.63 15.55

 

Extra value index +2 9.45 7.91 9.74 6.68

Extra value index +5 7.35 5.62 7.37 4.03

Extra value index +10 3.85 1.79 3.41 -0.39
Cooperative Statistics, 2010 41

Appendix table 6–Common size analysis, by cooperative type and size, 2010 (continued)

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

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

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

Balance sheet Percent of total assets

Current assets 54.96 57.49 52.83 49.52

Other assets 4.10 5.64 5.67 11.45

Investments 15.41 15.51 14.00 11.10

PP&E1 (net) 25.53 21.36 27.50 27.93

Total assets 100.00 100.00 100.00 100.00

 

Current liabilities 34.23 40.65 28.00 34.18

Total liabilities 44.49 46.98 35.84 43.60

Allocated equity 32.34 32.48 36.98 39.63

Retained earnings 23.17 20.55 27.17 16.77

Total equity 55.51 53.02 64.16 56.40

Total equity and liabilities 100.00 100.00 100.00 100.00

Income statement Percent of total sales

Total sales 100.00 100.00 100.00 100.00

Cost of goods sold 87.59 87.44 87.38 85.04

Gross margin 12.41 12.56 12.62 14.96

 

Service and other income 4.29 5.34 6.69 6.60

Gross revenue 16.70 17.90 19.31 21.56

Expenses

Wages 7.99 8.35 8.61 10.91

Depreciation 1.52 1.78 1.77 1.67

Interest 0.56 0.48 0.51 0.84

Other 5.39 5.71 6.70 7.48

Total expenses 15.46 16.32 17.60 20.90

 

Net operating margins 1.24 1.58 1.71 0.65

Patronage income 1.24 1.43 1.13 0.62

Non-operating income 0.81 0.86 1.14 0.54

Net income before taxes 3.29 3.86 3.98 1.82

Taxes 0.25 0.27 0.28 0.18

Net income 3.04 3.60 3.70 1.64

Ratios Percent or number

Current 1.61 1.41 1.89 1.45

Debt-to-asset 0.44 0.47 0.36 0.44

Debt-to-equity 0.80 0.89 0.56 0.77

Retained-earnings-to-equity 41.74 38.75 42.35 29.74

Equity-to-assets 55.51 53.02 64.16 56.40

Adjusted-equity-to-assets 84.39 89.34 89.11 85.69

Return-on-assets 7.95 7.42 9.00 4.10

Return-on-member-equity 19.41 18.91 20.02 6.39

 

Extra value index +2 7.19 7.86 7.80 1.46

Extra value index +5 4.66 5.18 5.13 -1.11

Extra value index +10 0.44 0.71 0.67 -5.39

(continued next page)
42 Cooperative Statistics, 2010

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

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

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

Balance sheet Percent of total assets

Current assets 60.05 63.33 67.31 69.68

Other assets 2.19 9.57 1.63 2.26

Investments 12.27 9.24 9.80 9.32

PP&E1 (net) 25.49 17.86 21.26 18.74

Total assets 100.00 100.00 100.00 100.00

 

Current liabilities 43.11 50.33 54.80 56.90

Total liabilities 60.18 66.04 65.58 64.47

Allocated equity 17.53 17.32 19.82 23.34

Retained earnings 22.30 16.64 14.60 12.20

Total equity 39.82 33.96 34.42 35.53

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 92.53 91.72 92.07 92.25

Gross margin 7.47 8.28 7.93 7.75

 

Service and other income 4.47 5.08 3.75 3.48

Gross revenue 11.94 13.36 11.68 11.23

Expenses

Wages 3.82 4.82 4.25 4.21

Depreciation 1.35 1.16 1.19 1.26

Interest 0.58 0.68 0.48 0.54

Other 4.24 4.46 3.66 3.56

Total expenses 9.98 11.12 9.57 9.58

 

Net operating margins 1.96 2.25 2.11 1.66

Patronage income 0.65 0.84 0.75 0.86

Non-operating income 0.19 0.11 0.12 0.43

Net income before taxes 2.80 3.19 2.98 2.95

Taxes 0.17 0.27 0.23 0.11

Net income 2.63 2.92 2.76 2.84

Ratios Percent or number

Current 1.39 1.26 1.23 1.22

Debt-to-asset 0.60 0.66 0.66 0.64

Debt-to-equity 1.51 1.94 1.91 1.81

Retained-earnings-to-equity 55.99 48.99 42.41 34.32

Equity-to-assets 39.82 33.96 34.42 35.53

Adjusted-equity-to-assets 70.00 68.37 76.14 82.43

Return-on-assets 8.56 7.41 7.83 7.28

Return-on-member-equity 38.01 32.33 31.50 25.36

 

Extra value index +2 9.76 9.37 11.69 11.43

Extra value index +5 7.66 7.32 9.41 8.96

Extra value index +10 4.16 3.90 5.60 4.84

Appendix table 6–Common size analysis, by cooperative type and size, 2010 (continued)
Cooperative Statistics, 2010 43

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

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

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

Balance sheet Percent of total assets

Current assets 70.67 64.48 66.94 70.66 61.25

Other assets 3.18 2.63 4.67 4.00 10.29

Investments 7.93 8.99 4.82 6.86 5.03

PP&E1 (net) 18.22 23.89 23.57 18.48 23.42

Total assets 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 55.28 46.39 51.70 49.34 37.52

Total liabilities 61.26 56.95 58.02 55.72 47.09

Allocated equity 22.24 21.66 23.42 23.10 34.83

Retained earnings 16.49 21.39 18.56 21.18 18.08

Total equity 38.74 43.05 41.98 44.28 52.91

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 91.33 92.48 91.77 91.57 90.42

Gross margin 8.67 7.52 8.23 8.43 9.58

 

Service and other income 3.74 3.99 3.94 4.07 5.30

Gross revenue 12.41 11.51 12.17 12.49 14.87

Expenses

Wages 4.53 4.56 4.84 4.94 7.02

Depreciation 1.28 1.22 1.32 1.36 1.43

Interest 0.49 0.44 0.47 0.55 0.57

Other 3.80 3.73 3.87 4.29 4.83

Total expenses 10.09 9.96 10.50 11.14 13.85

 

Net operating margins 2.31 1.55 1.67 1.35 1.02

Patronage income 0.66 0.40 0.39 0.39 0.10

Non-operating income 0.16 0.23 0.44 0.23 0.21

Net income before taxes 3.13 2.18 2.51 1.96 1.33

Taxes 0.22 0.00 0.07 0.01 0.04

Net income 2.90 2.18 2.44 1.96 1.29

Ratios Percent or number

Current 1.28 1.39 1.29 1.43 1.63

Debt-to-asset 0.61 0.57 0.58 0.56 0.47

Debt-to-equity 1.58 1.32 1.38 1.26 0.89

Retain’d-earnings-to-equity 42.58 49.69 44.21 47.84 34.17

Equity-to-assets 38.74 43.05 41.98 44.28 52.91

Adjusted-equity-to-assets 86.62 80.30 86.92 87.40 84.69

Return-on-assets 7.92 6.99 6.88 5.21 3.70

Return-on-member-equity 28.60 26.78 24.09 17.57 7.20

 

Extra value index +2 11.81 8.58 9.26 5.57 1.65

Extra value index +5 9.21 6.17 6.65 2.95 -0.89

Extra value index +10 4.88 2.16 2.30 -1.42 -5.12

(continued next page)

Appendix table 6–Common size analysis, by cooperative type and size, 2010 (continued)
44 Cooperative Statistics, 2010

Appendix table 6–Common size analysis, by cooperative type and size, 2010 (continued)

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

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

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

Balance sheet Percent of total assets

Current assets 63.95 70.19 70.11 63.16

Other assets 3.48 3.81 1.33 2.55

Investments 9.13 6.91 6.57 6.11

PP&E1 (net) 23.44 19.09 21.98 28.17

Total assets 100.00 100.00 100.00 100.00

 

Current liabilities 46.36 56.76 53.99 48.16

Total liabilities 62.38 66.84 64.25 60.65

Allocated equity 18.77 16.65 20.11 20.39

Retained earnings 18.85 16.51 15.64 18.96

Total equity 37.62 33.16 35.75 39.35

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 94.36 93.26 94.71

Gross margin 8.74 5.64 6.74 5.29

 

Service and other income 3.61 3.17 3.23 3.97

Gross revenue 12.35 8.81 9.97 9.26

Expenses

Wages 4.83 2.67 2.98 2.45

Depreciation 0.89 0.85 0.99 1.02

Interest 0.74 0.41 0.50 0.36

Other 4.27 2.69 2.92 3.12

Total expenses 10.74 6.61 7.39 6.96

 

Net operating margins 1.61 2.20 2.58 2.30

Patronage income 0.53 0.49 0.50 0.24

Non-operating income 0.34 0.30 0.19 -0.20

Net income before taxes 2.48 2.99 3.28 2.34

Taxes 0.20 0.20 0.26 0.15

Net income 2.28 2.78 3.02 2.20

Ratios Percent or number

Current 1.38 1.24 1.30 1.31

Debt-to-asset 0.62 0.67 0.64 0.61

Debt-to-equity 1.66 2.02 1.80 1.54

Retain’d-earnings-to-equity 50.11 49.79 43.74 48.18

Equity-to-assets 37.62 33.16 35.75 39.35

Adjusted-equity-to-assets 70.14 76.69 77.69 75.91

Return-on-assets 9.08 8.35 9.33 7.58

Return-on-member-equity 34.19 41.13 37.15 30.16

 

Extra value index +2 10.01 13.70 14.08 9.75

Extra value index +5 7.90 11.40 11.74 7.47

Extra value index +10 4.40 7.57 7.86 3.68
Cooperative Statistics, 2010 45

Appendix table 6–Common size analysis, by cooperative type and size, 2010 (continued)

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

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

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

Balance sheet Percent of total assets

Current assets 67.28 73.24 74.60 61.47 66.73

Other assets 1.89 1.93 0.38 6.45 6.20

Investments 5.47 6.37 5.38 6.44 2.65

PP&E1 (net) 25.36 18.46 19.65 25.63 24.42

Total assets 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 51.94 55.76 53.46 40.96 45.12

Total liabilities 62.62 62.86 60.04 53.89 55.44

Allocated equity 17.77 19.79 21.15 22.98 30.11

Retained earnings 19.61 17.36 18.80 23.12 14.44

Total equity 37.38 37.14 39.96 46.11 44.56

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 94.28 93.86 93.80 94.40 91.12

Gross margin 5.72 6.14 6.20 5.60 8.88

 

Service and other income 3.73 3.14 3.53 3.86 6.44

Gross revenue 9.45 9.28 9.73 9.46 15.32

Expenses

Wages 2.75 2.88 2.91 3.02 5.56

Depreciation 1.01 1.05 0.91 0.92 1.30

Interest 0.57 0.49 0.40 0.35 0.70

Other 2.73 2.82 3.49 3.20 6.16

Total expenses 7.06 7.23 7.70 7.49 13.73

 

Net operating margins 2.39 2.05 2.03 1.97 1.60

Patronage income 0.45 0.37 0.41 0.54 0.36

Non-operating income 0.21 0.24 0.47 0.05 0.05

Net income before taxes 3.06 2.66 2.91 2.56 2.01

Taxes 0.30 0.21 0.11 0.12 0.03

Net income 2.75 2.45 2.80 2.43 1.98

Ratios Percent or number

Current 1.30 1.31 1.40 1.50 1.48

Debt-to-asset 0.63 0.63 0.60 0.54 0.55

Debt-to-equity 1.68 1.69 1.50 1.17 1.24

Retained-earnings-to-equity 52.47 46.73 47.06 50.15 32.42

Equity-to-assets 37.38 37.14 39.96 46.11 44.56

Adjusted-equity-to-assets 77.79 83.96 85.84 78.09 81.20

Return-on-assets 9.27 7.34 7.76 8.48 6.04

Return-on-member-equity 39.65 28.86 31.05 30.93 14.65

 

Extra value index +2 12.49 10.57 11.72 9.86 5.78

Extra value index +5 10.16 8.05 9.14 7.52 3.34

Extra value index +10 6.27 3.85 4.85 3.62 -0.72

(continued next page)
46 Cooperative Statistics, 2010

Appendix table 6–Common size analysis, by cooperative type and size, 2010 (continued)

Type of cooperative Fish marketing Poultry marketing

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

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

Balance sheet Percent of total assets

Current assets 63.30 42.58 46.62 45.34 64.89 58.95

Other assets 11.75 0.07 11.61 0.17 1.06 16.56

Investments 0.05 0.00 0.00 0.00 1.40 0.00

PP&E1 (net) 24.90 57.35 41.78 54.48 32.65 24.49

Total assets 100.00 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 52.13 26.91 43.86 34.97 34.23 37.35

Total liabilities 59.27 71.09 66.94 60.90 51.90 46.62

Allocated equity 27.17 21.25 20.75 38.65 19.99 25.20

Retained earnings 13.56 7.66 12.31 0.45 28.11 28.18

Total equity 40.73 28.91 33.06 39.10 48.10 53.38

Total equity and liabilities 100.00 100.00 100.00 100.00 100.00 100.00

Income statement Percent of total sales

Total sales 100.00 100.00 100.00 100.00 100.00 100.00

Cost of goods sold 77.97 76.22 82.32 86.76 88.15 74.49

Gross margin 22.03 23.78 17.68 13.24 11.85 25.51

 

Service and other income 2.26 5.83 0.49 3.31 0.00 2.83

Gross revenue 24.29 29.60 18.17 16.54 11.85 28.34

Expenses

Wages 12.89 8.98 6.39 7.73 6.89 15.84

Depreciation 1.30 2.60 0.89 0.95 1.16 1.47

Interest 0.61 0.89 0.47 0.50 0.49 0.43

Other 7.99 16.70 8.73 7.41 3.08 8.32

Total expenses 22.79 29.17 16.48 16.58 11.62 26.05

 

Net operating margins 1.50 0.43 1.69 -0.04 0.23 2.28

Patronage income 0.00 0.02 0.03 0.10 0.03 0.00

Non-operating income 0.42 0.05 0.09 0.00 0.32 0.03

Net income before taxes 1.92 0.50 1.80 0.05 0.58 2.31

Taxes -0.03 0.03 0.02 0.00 -0.20 0.05

Net income 1.95 0.47 1.78 0.05 0.78 2.27

Ratios Percent or number

Current 1.21 1.58 1.06 1.30 1.90 1.58

Debt-to-asset 0.59 0.71 0.67 0.61 0.52 0.47

Debt-to-equity 1.46 2.46 2.02 1.56 1.08 0.87

Retained-earnings-to-equity 33.30 26.49 37.22 1.14 58.45 52.79

Equity-to-assets 40.73 28.91 33.06 39.10 48.10 53.38

Adjusted-equity-to-assets 85.09 39.56 58.89 60.13 73.13 85.20

Return-on-assets 6.57 3.34 15.77 1.32 3.58 4.36

Return-on-member-equity 18.59 5.29 59.77 0.33 13.04 14.29

 

Extra value index +2 8.18 0.44 20.45 -1.48 1.93 3.37

Extra value index +5 5.63 -0.75 18.69 -3.28 -0.27 0.82

Extra value index +10 1.37 -2.73 15.74 -6.29 -3.92 -3.44
Cooperative Statistics, 2010 47

Appendix table 6–Common size analysis, by cooperative type and size, 2010 (continued)

Type of cooperative Livestock marketing

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

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

Balance sheet Percent of total assets

Current assets 87.29 89.07 56.71 65.42 49.63 63.33

Other assets 0.69 2.46 15.73 12.54 23.23 14.19

Investments 4.37 1.52 0.00 0.00 2.05 0.00

PP&E1 (net) 7.66 6.95 27.56 22.04 25.09 22.48

Total assets 100.00 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 74.22 71.25 48.23 41.55 46.67 48.55

Total liabilities 82.45 79.22 63.08 49.90 52.70 58.40

Allocated equity 9.26 15.37 69.73 37.38 21.73 33.00

Retained earnings 8.29 5.41 -32.81 12.71 25.56 8.60

Total equity 17.55 20.78 36.92 50.10 47.30 41.60

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 99.32 98.19 93.38 94.61 92.08 89.99

Gross margin 0.68 1.81 6.62 5.39 7.92 10.01

 

Service and other income 0.96 3.04 7.12 2.55 3.59 29.57

Gross revenue 1.63 4.85 13.74 7.93 11.51 39.57

Expenses

Wages 0.84 1.84 5.88 2.64 3.67 10.43

Depreciation 0.06 0.38 1.33 0.77 0.81 0.98

Interest 0.09 0.62 0.85 0.38 0.38 0.48

Other 0.56 1.33 5.00 3.78 5.66 27.28

Total expenses 1.55 4.16 13.05 7.57 10.52 39.16

 

Net operating margins 0.09 0.69 0.68 0.37 0.99 0.41

Patronage income 0.02 0.03 0.00 0.00 0.00 0.00

Non-operating income 0.02 0.09 0.00 0.07 0.00 0.42

Net income before taxes 0.12 0.81 0.68 0.44 0.99 0.83

Taxes 0.00 0.15 0.00 0.00 0.00 0.00

Net income 0.12 0.66 0.68 0.44 0.99 0.83

Ratios Percent or number

Current 1.18 1.25 1.18 1.57 1.06 1.30

Debt-to-asset 0.82 0.79 0.63 0.50 0.53 0.58

Debt-to-equity 4.70 3.81 1.71 1.00 1.11 1.40

Retained-earnings-to-equity 47.24 26.05 -88.87 25.38 54.05 20.67

Equity-to-assets 17.55 20.78 36.92 50.10 47.30 41.60

Adjusted-equity-to-assets 68.05 72.27 71.32 85.71 88.68 80.85

Return-on-assets 2.73 2.76 3.74 7.15 6.85 1.18

Return-on-member-equity 16.72 8.29 2.39 10.27 22.67 2.25

 

Extra value index +2 4.11 2.42 1.24 4.18 6.77 -0.81

Extra value index +5 2.06 0.25 -0.90 1.61 4.11 -3.23

Extra value index +10 -1.34 -3.36 -4.47 -2.68 -0.33 -7.28

 (continued next page)
48 Cooperative Statistics, 2010

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 77.14 57.74 41.62 27.43

Other assets 1.70 3.41 2.60 6.15

Investments 4.35 2.08 0.27 2.96

PP&E1 (net) 16.81 36.77 55.52 63.47

Total assets 100.00 100.00 100.00 100.00

 

Current liabilities 65.26 43.75 34.57 26.08

Total liabilities 70.15 71.64 62.53 35.56

Allocated equity 24.66 18.80 31.94 42.67

Retained earnings 5.19 9.56 5.53 21.77

Total equity 29.85 28.36 37.47 64.44

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 86.90 88.68 68.29 83.46

Gross margin 13.10 11.32 31.71 16.54

 

Service and other income 1.64 0.84 25.13 1.11

Gross revenue 14.75 12.16 56.84 17.65

Expenses

Wages 5.36 5.28 19.12 3.27

Depreciation 1.42 1.29 9.33 4.65

Interest 0.46 0.73 2.25 0.94

Other 3.76 2.66 22.06 5.98

Total expenses 11.01 9.95 52.76 14.85

 

Net operating margins 3.74 2.20 4.08 2.80

Patronage income 0.36 0.00 0.04 0.02

Non-operating income 0.39 0.31 0.29 2.79

Net income before taxes 4.48 2.52 4.41 5.60

Taxes 0.25 0.00 0.11 0.36

Net income 4.23 2.52 4.31 5.24

Ratios Percent or number

Current 1.18 1.32 1.20 1.05

Debt-to-asset 0.70 0.72 0.63 0.36

Debt-to-equity 2.35 2.53 1.67 0.55

Retain’d-earnings-to-equity 17.38 33.72 14.77 33.79

Equity-to-assets 29.85 28.36 37.47 64.44

Adjusted-equity-to-assets 85.91 50.42 57.27 87.18

Return-on-assets 7.76 15.70 4.62 9.71

Return-on-member-equity 26.95 64.74 9.36 18.22

 

Extra value index +2 16.73 20.23 2.97 8.09

Extra value index +5 14.16 18.72 1.26 5.47

Extra value index +10 9.86 16.20 -1.61 1.11

Appendix table 6–Common size analysis, by cooperative type and size, 2010 (continued)
Cooperative Statistics, 2010 49

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 61.69 45.33 46.87 44.85

Other assets 5.82 38.35 43.85 38.23

Investments 1.34 2.90 0.00 0.00

PP&E1 (net) 31.15 13.42 9.28 16.92

Total assets 100.00 100.00 100.00 100.00

 

Current liabilities 31.08 20.79 25.19 21.94

Total liabilities 58.83 40.53 26.81 42.07

Allocated equity 25.69 41.10 50.23 28.37

Retained earnings 15.48 18.38 22.96 29.56

Total equity 41.17 59.47 73.19 57.93

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 76.58 95.09 90.79 78.50

Gross margin 23.42 4.91 9.21 21.50

 

Service and other income 1.11 13.99 4.22 3.43

Gross revenue 24.53 18.90 13.43 24.93

Expenses

Wages 9.69 2.90 5.52 6.44

Depreciation 1.93 0.32 1.65 0.72

Interest 0.72 0.11 0.63 0.04

Other 11.48 5.09 2.62 17.02

Total expenses 23.81 8.43 10.42 24.21

 

Net operating margins 0.72 10.47 3.01 0.71

Patronage income 0.04 0.02 0.00 0.00

Non-operating income -0.45 0.05 0.09 0.00

Net income before taxes 0.30 10.55 3.10 0.72

Taxes 0.30 3.12 0.13 0.00

Net income 0.00 7.43 2.97 0.72

Ratios Percent or number

Current 1.98 2.18 1.86 2.04

Debt-to-asset 0.59 0.41 0.27 0.42

Debt-to-equity 1.43 0.68 0.37 0.73

Retained-earnings-to-equity 37.60 30.90 31.37 51.02

Equity-to-assets 41.17 59.47 73.19 57.93

Adjusted-equity-to-assets 59.75 75.09 97.84 74.21

Return-on-assets 2.57 50.41 1.71 0.56

Return-on-member-equity 0.01 85.48 2.72 1.89

 

Extra value index +2 -1.66 42.26 -0.90 -1.38

Extra value index +5 -3.45 40.01 -3.84 -3.61

Extra value index +10 -6.44 36.25 -8.73 -7.32

(continued next page)

Appendix table 6–Common size analysis, by cooperative type and size, 2010 (continued)
50 Cooperative Statistics, 2010

Type of cooperative Sugar marketing

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

million $300 million $100 million $20 million 

Balance sheet Percent of total assets

Current assets 38.35 38.88 24.24 81.73

Other assets 19.42 2.23 2.73 7.33

Investments 0.64 29.08 3.84 0.00

PP&E1 (net) 41.60 29.81 69.19 10.94

Total assets 100.00 100.00 100.00 100.00

 

Current liabilities 32.55 31.70 17.96 24.15

Total liabilities 64.92 49.34 38.25 39.07

Allocated equity 46.24 46.21 54.96 30.99

Retained earnings -11.16 4.45 6.79 29.94

Total equity 35.08 50.66 61.75 60.93

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 80.30 82.32 65.48 96.51

Gross margin 19.70 17.68 34.52 3.49

 

Service and other income 1.92 0.16 0.08 2.21

Gross revenue 21.62 17.84 34.60 5.70

Expenses

Wages 10.11 7.79 12.52 0.30

Depreciation 3.09 2.40 3.11 0.04

Interest 0.94 0.75 1.14 0.02

Other 4.08 6.66 18.23 4.91

Total expenses 18.21 17.60 35.00 5.27

 

Net operating margins 3.42 0.24 -0.40 0.42

Patronage income 0.03 0.08 0.13 0.00

Non-operating income -0.55 1.42 0.38 0.02

Net income before taxes 2.90 1.74 0.11 0.45

Taxes 0.11 0.40 -0.04 0.00

Net income 2.78 1.34 0.16 0.45

Ratios Percent or number

Current 1.18 1.23 1.35 3.38

Debt-to-asset 0.65 0.49 0.38 0.39

Debt-to-equity 1.85 0.97 0.62 0.64

Retained-earnings-to-equity -31.81 8.78 11.00 49.14

Equity-to-assets 35.08 50.66 61.75 60.93

Adjusted-equity-to-assets 52.01 74.17 75.26 80.34

Return-on-assets 6.25 3.78 1.68 12.33

Return-on-member-equity 9.81 4.40 0.38 38.24

 

Extra value index +2 5.28 0.91 -1.84 13.39

Extra value index +5 3.72 -1.32 -4.10 10.98

Extra value index +10 1.12 -5.03 -7.86 6.96

Appendix table 6–Common size analysis, by cooperative type and size, 2010 (continued)
Cooperative Statistics, 2010 51

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 46.12 47.39 49.31 63.28

Other assets 2.22 1.74 0.55 1.46

Investments 0.14 2.31 3.53 0.00

PP&E1 (net) 51.52 48.56 46.61 35.26

Total assets 100.00 100.00 100.00 100.00

 

Current liabilities 30.43 26.10 9.68 22.30

Total liabilities 49.52 29.94 10.77 27.20

Allocated equity 45.71 54.39 83.64 70.14

Retained earnings 4.77 15.67 5.59 2.66

Total equity 50.48 70.06 89.23 72.80

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 22.02 31.94 39.63 14.35

Depreciation 5.73 8.50 9.91 6.74

Interest 2.91 0.28 0.05 0.03

Other 33.67 57.65 35.75 25.66

Total expenses 64.32 98.38 85.35 46.78

 

Net operating margins 35.68 1.62 14.65 53.22

Patronage income 0.02 0.26 0.36 0.00

Non-operating income 0.24 0.34 0.43 2.01

Net income before taxes 35.93 2.23 15.45 55.23

Taxes 0.01 0.05 0.02 0.19

Net income 35.92 2.18 15.43 55.04

Ratios Percent or number

Current 1.52 1.82 5.09 2.84

 

Debt-to-asset 0.50 0.30 0.11 0.27

Debt-to-equity 0.98 0.43 0.12 0.37

 

Retained-earnings-to-equity 9.44 22.36 6.26 3.65

Equity-to-assets 50.48 70.06 89.23 72.80

Adjusted-equity-to-assets 72.57 94.80 98.79 93.69

 

Return-on-assets 22.05 6.35 12.92 36.08

Return-on-member-equity 44.60 10.14 15.38 51.24

 

Extra value index +2 27.28 4.82 11.49 43.65

Extra value index +5 25.11 1.97 8.52 40.84

Extra value index +10 21.48 -2.77 3.58 36.15

Appendix table 6–Common size analysis, by cooperative type and size, 2010 (continued)
52 Cooperative Statistics, 2010

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 34.25 75.88 47.44 64.03 23.39

Other assets 1.40 5.35 24.64 6.63 5.83

Investments 0.21 10.85 0.00 9.86 0.03

PP&E1 (net) 64.14 7.92 27.92 19.48 70.74

Total assets 100.00 100.00 100.00 100.00 100.00

 

Current liabilities 21.97 5.29 20.45 39.26 16.44

Total liabilities 40.92 8.55 24.18 58.02 42.36

Allocated equity 54.25 91.45 57.06 32.11 15.44

Retained earnings 4.83 0.00 18.75 9.86 42.19

Total equity 59.08 91.45 75.82 41.98 57.64

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 24.59 33.57 20.31 21.00 24.51

Depreciation 11.02 2.37 1.87 2.47 6.10

Interest 2.50 0.06 0.54 0.81 3.95

Other 28.86 67.45 76.49 67.99 62.31

Total expenses 66.97 103.45 99.21 92.27 96.88

 

Net operating margins 33.03 -3.45 0.79 7.73 3.12

Patronage income 0.00 5.33 0.00 0.61 0.80

Non-operating income 0.94 2.51 0.30 2.10 3.47

Net income before taxes 33.97 4.39 1.09 10.44 7.39

Taxes 1.40 1.81 0.01 0.18 0.80

Net income 32.57 2.58 1.08 10.26 6.59

Ratios Percent or number

Current 1.56 14.33 2.32 1.63 1.42

 

Debt-to-asset 0.41 0.09 0.24 0.58 0.42

Debt-to-equity 0.69 0.09 0.32 1.38 0.73

Retained-earnings-to-equity 8.18 0.00 24.74 23.50 73.21

Equity-to-assets 59.08 91.45 75.82 41.98 57.64

Adjusted-equity-to-assets 75.71 96.56 95.30 69.11 68.97

 

Return-on-assets 25.76 2.07 2.85 9.57 6.97

Return-on-member-equity 42.40 1.32 3.31 27.20 26.22

 

Extra value index +2 27.37 -1.42 -0.28 12.45 2.92

Extra value index +5 25.10 -4.32 -3.14 10.38 0.85

Extra value index +10 21.31 -9.14 -7.91 6.93 -2.59

Appendix table 6–Common size analysis, by cooperative type and size, 2010 (continued)
Cooperative Statistics, 2010 53

Appendix Table 7–Cooperative net income before taxes, 2001-20101

 

 Net operating From other

Year margins cooperatives2 Total

 

 Billion dollars

2001 0.68 0.32 0.99

2002 0.55 0.36 0.91

2003 0.77 0.09 0.86

2004 1.72 0.39 2.11

2005 1.91 0.40 2.31

2006 2.38 0.54 2.92

2007 3.18 0.66 3.85

2008 4.01 0.87 4.88

2009 3.24 0.90 4.14

2010 3.61 0.69 4.30

 

 

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. 
54 Cooperative Statistics, 2010

APPENDIX FIGURES

Supply

45.3%

Dairy

6.4%

Fruit & vegetable

6.4%

Other marketing

8.6%

Livestock &

poultry

3.2%

Cotton

0.6%

Grain & oilseed

24.1%

Service

5.4%

Percentages are based on a total of 2,310 cooperatives.

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

1

Appendix Figure 1–Distribution of Cooperatives by Type, 2010

0

1

2

3

4

5

6

7

1979 1983 1987 1991 1995 1999 2003 2007 2010

Million

Memberships

Farms

Appendix Figure 2–U.S. Farms and Cooperative Memberships, 1979-2010
Cooperative Statistics, 2010 55

Other marketing

1

5.7%

Supply

37.0%

Service

1.0%

Cotton

1.2%

Fruit & vegetable

11.0%

Livestock &

poultry

1.9%

Sugar

4.7%

Grain & oilseed

17.4%

Dairy

20.4%

Rice

2.1%

Percentages are based on a total of 129,300 full-time employees 1

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

.

Appendix Figure 3–Distribution of Full-Time Employees by Cooperative Type, 2010

0

25

50

75

100

125

150

175

200

1979 1983 1987 1991 1995 1999 2003 2007 2010

Billion dollars

Gross1

2 Excludes inter-cooperative business.

1 Includes inter-cooperative business.

Net2

Appendix Figure 4–Cooperatives’ Gross and Net Business Volumes, 1979-2010
56 Cooperative Statistics, 2010

0

25

50

75

100

125

150

175

1Total includes value of related services and other income.

Billion dollars

Total

1

Marketing

Supply

1979 1983 1987 1991 1995 1999 2003 2007 2010

Appendix Figure 5–Cooperatives’ Net Business Volume, 1979-2010

0

1

2

3

4

5

6

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

1 Includes other cooperatives and CoBank.

Billion dollars

Investments

Refunds

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

Refunds Received from Other Cooperatives1, 2001-2010
Cooperative Statistics, 2010 57

0 10 20 30 40 50

Supply

Grain and oilseed

Fruit and vegetable

Dairy

Sugar

Cotton ginning

Other Marketing

Service

Livestock and poultry

Rice

Percent of total

Percentage based on net income before taxes of $4.3 billion.

1

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

Cotton

1

Appendix Figure 7–Distribution Net Income Before Taxes, by Cooperative Type, 2010

0 10 20 30 40 50 60

Supply

Grain & oilseed

Sugar

Rice

Cotton ginning

Livestock & poultry

Dairy

Cotton

Fruit & vegetable

Service

Percent of total

Percentage based on before taxes losses of $160.4 million.

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

Other marketing1

Appendix Figure 8–Distribution of Losses, by Cooperative Type, 2010