![]() The debt-to-asset ratio is forecast to decrease from 12.93 percent in 2022 to 12.72 percent in 2023 while the debt-to-equity ratio is expected to decrease from 14.85 percent in 2022 to 14.58 percent in 2023. In 2023, these ratios are expected to go down because assets are forecast to grow at a faster rate than debts. ![]() Lower values for these ratios are preferred. Popular measures of solvency include the debt-to-asset ratio and debt-to-equity ratio. Solvency is a measure of the ability of a farm or ranch operation to satisfy its debt obligations when due. Non-real estate assets include the value of investments and other financial assets, inventories of crops, animals, purchased inputs, and machinery/vehicles.ĭownload higher resolution chart (4172 pixels by 3335, 600 dpi) Farm Sector Solvency Is Expected To Be Stronger and Liquidity To Be Weaker in 2023 Relative to 2022 Real estate assets are forecast to increase by 4.1 percent when adjusted for inflation. In 2023, real estate assets are forecast to increase by 7.7 percent from 2022 in nominal dollars, accounting for most of the forecast increase in total assets. farm sector financial indicators, 2016–2023F, or get the full balance sheet details, including the current/noncurrent balance sheet and selected financial ratios.įarm real estate assets (land and its attachments) are forecast to be $3.42 trillion representing 83.6 percent of total farm sector assets in 2023. See a summary of the balance sheet in the table U.S. When adjusted for inflation, farm sector equity, assets, and debt are forecast to increase by 3.3 percent, 3.0 percent, and 1.4 percent, respectively. Farm sector assets are expected to increase 6.6 percent to $4.09 trillion while farm sector debt is expected to increase 4.9 percent to $520.1 billion in 2023. Farm Sector Equity (Wealth) Forecast To Rise in 2023įarm sector equity-the difference between farm sector total assets and total debt-is forecast to rise to $3.57 trillion in 2023, a 6.8 percent increase relative to 2022 in nominal dollars. Farm Sector Income & Finances: Assets, Debt, and Wealth, August 31, 2023. Department of Agriculture, Economic Research Service. Sometimes f/1.3 and f/3.2 and other differences are used for the one-third stop scale.Suggested citation for linking to this discussion: Sometimes the same number is included on several scales for example, an aperture of f/1.2 may be used in either a half-stop N = f D Ĭonventional and calculated f-numbers, full-stop series: The numerical aperture takes into account the refractive index of the medium in which the system is working, while the f-number does not. The f-number is related to the numerical aperture of the system, which measures the range of angles over which light can enter or exit the system. A lower f-number means a larger relative aperture and more light entering the system, while a higher f-number means a smaller relative aperture and less light entering the system. The relative aperture indicates how much light can pass through the lens at a given focal length. The f-number is also known as the inverse relative aperture, because it is the inverse of the relative aperture, defined as the aperture diameter divided by focal length. The f-number is dimensionless and is usually expressed using a lower-case hooked f with the format f/ N, where N is the f-number. The f-number is also known as the focal ratio, f-ratio, or f-stop, and it is key in determining the depth of field, diffraction, and exposure of a photograph. It is calculated by dividing the system's focal length by the diameter of the entrance pupil ("clear aperture"). For other uses, see F-number (disambiguation).ĭiagram of decreasing apertures, that is, increasing f-numbers, in one-stop increments each aperture has half the light-gathering area of the previous one.Īn f-number is a measure of the light-gathering ability of an optical system such as a camera lens.
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