reimagine 2021 ANNUAL REPORT
OUR MISSION
To create customer, employee and partner success to provide a safe and sustainable food supply.
OUR VISION
Partner with customers to successfully navigate the complexity of modern agriculture and industry.
OUR VALUES
The success of our business will be determined by our ability to focus on safety, courtesy, image and innovation.
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2021 MKC ANNUAL REPORT
forward
Reimagining Tomorrow’s Enterprise Today We operate in a world where weather, yields, government policies, global markets and other factors can disrupt the year, the next month, and even the next day, leaving us to adjust to what is ahead. The worldwide impact of the pandemic was a prime example of when we had to face new obstacles and reimagine what normal looked like.
This is our moment to reimagine our cooperative.
For years in the agricultural industry and the cooperative system, we have had the opportunity to reimagine the future. For centuries we’ve seen farmers rethink their farm work and labor by using new equipment to get more things done faster and easier. We’ve adopted technology in the agricultural industry through a new frontier of innovation and imagination. Technology innovation has allowed farmers a solution to problems and also advanced practices. Consumers have continued to challenge our industry to think differently about practices for a better food system to feed the world. The cooperative has evaluated what our assets look like and where they are placed as transportation and technology have advanced and allowed growers to be serviced more efficiently. With new online options and access to virtually unlimited information, combined with a new generation that seeks information when they want it, we have modified how and where we tell our story. The list goes on, and on and on. When we envision agriculture and our cooperative in the future, what will it look like? Now is our time to reimagine. We must be ambitious, be bold and think big. At MKC, we’re committed to reimagining tomorrow’s cooperative for the future.
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leadership letter The events of 2020 challenged us in dramatic and unprecedented ways, and we were left to reimagine what normal looked like. Beyond the global pandemic, the agricultural industry continues to transform and producers’ needs are changing. At MKC, we are in a position to rethink, reshape and reimagine how to successfully execute our cooperative’s mission to create customer, employee and partner success. Reflection In an environment where many organizations struggled to adapt to the evolving landscape, MKC was able to perform well in all business units, including grain, agronomy, energy and feed, all while achieving record volumes. On May 12, 2020, MKC finalized the acquisition of MidWest Fertilizer Inc. For over 40 years, Mid-West Fertilizer’s roots expanded far beyond their first home as a fertilizer distributor in Paola, Kansas, to deliver products, programs and services to their ever-expanding agriculture customer base in Kansas, Missouri, Oklahoma and Arkansas. Strategic growth has proven to provide value to memberowners and customers of MKC in many aspects. The acquisition improves MKC’s ability to be a long-term, sustainable organization and enhances our industry relevance to suppliers. Another unique benefit of this growth opportunity is the ability to spread out risk through different geographies and growing conditions. Our businesses are highly complementary, as our core businesses of grain, agronomy, energy and feed are the same. This wholly-owned subsidiary of MKC was profitable for the year and positively contributed to MKC’s financial position. For MKC and Team Marketing Alliance, LLC, rail transportation is a part of the puzzle to grain marketing success. This past year, we continued to find new markets to deliver grain, both foreign and domestic. Since its opening in 2014, the Canton Terminal has shipped 372 trains. The Sumner County Terminal has fulfilled 74 trains since 2017. Investments Patrons in local communities witnessed recent investments in fuel sites across MKC’s footprint. Fifteen MKC fuel sites received new hardware and software upgrades, while a few locations received new dispensers that include features utilizing a chip reader and tap-to-pay. The enhancements provide a more reliable system to dispense gasoline and diesel and are safer to use in terms of card security.
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2021 MKC ANNUAL REPORT
In 2020, MKC was recognized in CropLife’s Top 100 U.S. ag retailers list at No. 19. MKC’s spot at 19 was the highest-ranking for a Kansas cooperative. This recognition demonstrated MKC’s ongoing commitment to growth and positively influencing our member-owners, customers and employees. The purchasing of Mid-West Fertilizer had a significant impact on MKC’s standing within the 2020 CropLife 100. Safety Through the Pandemic The global pandemic in 2020 set off a chain reaction of personal and business disruptions that created uncertainty, challenges and significant changes in our daily lives. However, throughout the entire year, MKC repeatedly demonstrated how our cooperative has been able to survey the changing world around us and reimagine different aspects of what we do best while coming out stronger and more focused on the future. During the COVID-19 pandemic, everyone at MKC worked to ensure our member-owners, employees and the communities we impact are safe. Through the use of technology, some employees transitioned to work from home and continued with little disruption. Employees on the front lines delivered products and services to memberowner operations, loaded trains, and were on-site to load products. Safety remained a priority for our employees, our customers and the communities we serve, and we are very proud of the efforts put in place to do that. The pandemic we experienced caused disruption to most aspects of our business. Changes were made, but our team worked innovatively to provide little to no disruption to our members. Throughout this process, we reimagined what normal looked like. We reimagined ways to communicate, swapping podiums and projector screens for virtual platforms on our computer screens and mobile devices. We reimagined our farm-gate approach and engagement with customers by conducting regular conversations with members via virtual meetings, phone calls, or text messages. We reimagined employee development, community stewardship and more. Vision for the Future Change is a theme very familiar to MKC. In certain times, change is something we control and can take deliberate steps to make proactive decisions. Other times, we are forced to react. Albert Einstein once said, “Nothing happens
unless something is moved.” We can all agree many things are changing or moving in our world today and we are eager to embrace change by being leaders in our industry. The MKC Board of Directors and leadership are continuously reimagining how the cooperative will need to adapt to change in both the short and long term. At MKC, we are constantly reimagining how to serve farmers. To successfully serve future generations, we go back to the basics of what it means to be a cooperative. What we know for sure is the world around us is changing at a rapid pace. To remain successful for generations to come, we must focus on market relevance, asset renewal, talent, technology adoption, competition and the farmer of the future. It is also important to know that your cooperative sees technology as an investment, not an expense. Investments in technology allow our cooperative and member-owners to be more profitable, efficient, safe and more sustainable. Technology in agriculture will enable us to reimagine how food and agriculture production works – and who works it. Strategic Partnerships MKC will continue to explore and invest in partnerships to help successfully navigate the complex world of agriculture. Our future alignment strategy to serve member-owner needs will continue to be more vertical in nature. What does that mean? We will find organizations that provide resources that we can’t find on our own. These resources will be access to world markets, new technology, expanded talent and career paths. There has been a growing trend to close the ‘communication gap’ between farmers and consumers. We believe success includes being good stewards to our environment, being present and supportive in our local communities and shining a light on MKC member-owners’ success as they utilize MKC’s different products, programs and services. Frequent topics of discussion within our organization revolve around sustainability, carbon markets, cover crops and more. Our industry is continuously hearing about different sustainable ag-tech companies bringing ideas of carbon marketing to the table. Climate change is a challenge, but also an opportunity to reimagine what we can accomplish through agriculture. MKC has made this an initiative to learn more about and create opportunities for our members. We are committed to learning more, putting a program in place if appropriate and most importantly, keeping our members informed. MKC has innovatively created a sustainability program named SERVES. The name stems from the program’s tagline, “We will sustain the environment, rural communities and vitality of MKC through education and stewardship.” We
believe this program serves as the framework that guides which initiatives are chosen related to sustainability to take action upon by the cooperative. Through social media, stories, print advertising and more, MKC is intentional about educating influencers and the public about the commitment that farmers and ranchers have to feed the world. We set ourselves apart from other cooperatives by finding ways to take our place among leaders in addressing issues that directly affect our members, their families and the communities in which they live. With help from organizations like the National Council of Farmer Cooperatives, Agriculture Retailers Association and Kansas Agribusiness Retailers, MKC works to ensure state and federal administrations and Congress hear our positions and concerns. In the midst of challenges and change, many pivotal questions remain. Where do we go from here? How do we take what we learned in the past year, apply it, amplify it and build upon it? Your cooperative is committed to delving into these crucial conversations to rethink, reshape and reimagine our cooperative. Thank you to our member-owners and customers for the continued business and support. Thank you to our team of employees for their dedication and passion. We look forward to the future, reimagined.
Allan Wegner Chairman Board of Directors
Brad Stedman President and Chief Executive Officer
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2021 MKC ANNUAL REPORT
board of directors
Elected by their peers, these individuals collectively leverage their expertise to provide important direction and ensure the safety and soundness of the finances of the cooperative. Board members are farmers and ranchers themselves and have a deep understanding of the challenges their fellow member-owners face each and every day.
JAMES MOSIMAN
DISTRICT 3
DISTRICT 1
DISTRICT 2
The Board of Directors consists of 11 members. Three directors represent a district, six directors are at-large, an appointed director from the merger of Plains Equity Exchange and Cooperative Union, and an associate director. Detailed biographical information on the MKC Board of Directors is available at mkcoop.com.
DAVID MILLS
JASON GAEDDERT VICE CHAIRMAN
AT-LARGE
SECRETARY
DUANE JOHNSON
ALLAN WEGNER
SARA HASTY
HAL MAYER
BEN SCHRAG
CHAIRMAN
ASSOCIATE
APPOINTED
J. DANIEL EAKES
JOHN BORTH
C.J. BLEW
BRAD STEDMAN PRESIDENT
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reflection REVIEW OF YEAR
MKC is a diversified agricultural cooperative focused on the changing industry and consumer needs.
PANDEMIC AWARENESS
In February 2021, a significant winter storm swept across the United States causing widespread impacts. Several days of below-freezing temperatures and consistent snowfall caused so much stress to the electrical grid that millions were left without power.
THE POWER OF PARTNERSHIPS
Through it all, the MKC energy department worked diligently to supply diesel fuel to keep the lights and heat on across the region.
At MKC, we continuously monitored the changes to our company in light of Coronavirus (COVID-19) and its effects on our employees, member-owners and the communities we live and work. We closely followed the guidelines set by public health authorities and government agencies, and formed a COVID-19 task force to create social distancing standard operating procedures and monitor and communicate the changes made at our locations. Throughout the pandemic, we utilized technology to effectively meet the needs of our employees and safely hired and onboarded employees to the team.
STEWARDS OF OUR COMMUNITIES MKC is committed to helping our rural communities prosper and prepare for tomorrow. Developing leaders within our communities, alleviating hunger and enhancing ag education and community safety are just some of the programs MKC is proud to support. Over the past five years, more than $500,000 has been donated to these types of programs, including the following: 4-H Leadership Development Mennonite Relief Community Food Banks Kansas FFA and local FFA chapters Community Festivals Ag in the Classroom Farm Safety Camps Walton Rural Life Ag Charter School Women in Agriculture Emergency Services
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2021 MKC ANNUAL REPORT
Sustainability and community stewardship are a vital part of MKC’s local presence.
MKC SERVES Sustainability is an extensive discipline, and one that seems to be a buzzword in today’s global climate. As society becomes more aware of its impact on the environment, sustainability is increasingly being prioritized in the business models of individuals, organizations and corporations alike. MKC innovatively created a new sustainability program aptly named SERVES. The name stems from the program’s tagline, ‘We will sustain the environment, rural communities and the vitality of MKC through education and stewardship.’
MKC leverages digital strategies and technology to partner with farmers to drive productivity and profitability. AGWORLD In recent years, the need for MKC customers and employees to collect structured data that can be converted in a real-time dashboard was becoming more and more important. MKC announced in July 2020 the collaboration with Agworld, one of the most innovative farm data management platforms in the United States. Due to the COVID-19 pandemic and other factors within the agricultural industry, a digital collaboration between growers and their trusted advisors became increasingly important. It is with these reasons in mind that MKC decided to adopt the Agworld platform into the organization. After nearly nine months of integrations, standard operating procedure creation, training and more, MKC team members were ready to make the first round of work orders through the Agworld system in February 2021.
GOING VIRTUAL For the safety of customers and employees, MKC winter and spring meetings were modified to be held virtually this year. As an opportunity to stay in front of customers and provide access to industry speakers, the MKC Ag Symposium event was altered to a virtual series with monthly meetings. The three-part series discussed policy, trade and commodity markets. Member-owners were also invited to learn more about feed and mineral offerings through multiple other online meetings.
Improved infrastructure, local investments and strategic partnerships are essential for MKC to sustain the cooperative model for future generations. ACQUISITION OF MID-WEST FERTILIZER On May 12, 2020, MKC finalized the acquisition of Mid-West Fertilizer Inc. and the company now operates as a wholly-owned subsidiary of MKC moving forward. Together, the acquisition strengthens MKC’s position in the marketplace and allows both companies to expand services to create additional value for our owners and customers. The acquisition included grain, wholesale and retail agronomy, energy, feed and trucking. Prior to the acquisition, MKC and Mid-West Fertilizer worked beside one another for three years through their relationship with Team Marketing Alliance LLC, a majority-owned subsidiary of MKC.
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financial overview The past fiscal year certainly brought its own set of successes and challenges. Here is a quick list of some key successes and challenges that impacted our cooperative and our member-owners this past fiscal year.
• Team Marketing Alliance shipped over 101 million
bushels of grain, a record fiscal year for grain sold and shipped. A significant amount of those bushels were shipped through our shuttle loaders at Canton and Sumner Countys, thus enhancing the value of the grain for our member-owners. Ultimately, Team Marketing Alliance incurred its fourth best financial year for its cooperative owners.
• The acquisition of Mid-West Fertilizer on May 12, 2020,
gave the combined companies a financial uplift and improved positions with suppliers and manufacturers as our fertilizer volume increased to 262,135 annual tons.
• Our feed business unit and investment in Countryside
Feed, LLC, continues to perform well. The merger with Midwest Ag Services in Seneca, Kansas, which was completed in 2018, is beginning to recognize the synergies of combined management, workforce and feed mills. The shared success has led to the commitment of an $8.2 million expansion project at the Hillsboro facility.
• Our energy business incurred a record year with fuel
sales of over 30 million gallons. The department played a pivotal role in supplying energy to Kansas communities by providing local energy companies with over 6 million gallons of fuel during the extreme cold in February 2021.
• And lastly, we endured the pandemic together. Although
we were challenged in many areas such as transportation, product shortages, price volatility, quarantined employees, member communications and increased costs, we battled together to get through. In the end, essential workers in the agricultural industry worked diligently and accomplished what needed to be done.
Two years ago, MKC identified three financial metrics used to measure the success of our financial performance: net earnings, net fixed assets and working capital. We also measure the value brought to our member-owners with two primary metrics: customer satisfaction and customer retention. Net earnings measure the level of success or profitability achieved, net fixed assets measure MKC’s commitment to growing and upgrading the infrastructure of the cooperative for future generations and working capital measures the strength and stability of the cooperatives balance sheet and overall financial position. Our net earnings for the 2021 fiscal year were $7.4 million, a decrease from our 2020 and 2019 financial performance
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2021 MKC ANNUAL REPORT
levels. Our biggest financial challenge this past year was limited grain marketing opportunities. Higher grain prices are great for our member-owners, but provides fewer marketing opportunities for Team Marketing Alliance and our grain business unit. The net fixed assets of the co-op DANNY POSCH have grown from $37 million to $184 EXECUTIVE VICE million in the past ten years. We are PRESIDENT & CFO often reminded the cooperative has no end date and we must provide future generations with a company that can serve them as well as it has served previous generations. Our commitment to the future is demonstrated in the growth of our net fixed assets. Our cooperative has a very strong working capital position of over $67 million at fiscal year-end, an increase of $14.7 million over 2020. A strong working capital position is critical to our organization because it provides a platform for growth and allows the cooperative to execute its strategic goals, strengthens relationships with creditors and allows the cooperative to maintain adequate lines of credit with lenders. We continue down the path of issuing non-qualified patronage to our members because we believe it has significant tax savings for our member-owners and MKC. We are pleased we were able to allocate patronage in our business units again in 2021. In addition to patronage, our pass-through of the section 199A deduction offers significant value to our member-owners because the allocated 199A deduction can be utilized on the tax return of the member-owner. It is also worth repeating that some of the greatest value delivered to our member-owners is not measured by a financial plan, ratio or target but instead by MKC’s commitment to investing in the most talented employees, technology, innovative products, services and financing. We strongly believe those investments help member-owners be more successful. A customer satisfaction metric measures how well our products and services meet or exceed our member-owners expectations. In contrast, a customer retention metric measures the ability of a business to retain customers. We are proud to report our customer satisfaction and customer retention metrics were 82% and 99%, respectively, this past year. Both of those metrics are considered very strong in any industry. We are pleased to share our success with our member-owners, as well as our commitment to being a financially sound company for our member-owners today and for future generations.
Patronage Allocation and Cash Distribution to Members 2021 Patronage Allocation
Rate
Amount
Grain
2 cents/bushel
$932,968
Agronomy
1.00%
775,469
Energy
.56%
148,760
Feed and Merchandise
.27%
26,122
Total Patronage Allocation
$ 1,883,319
Equity Redemptions
$ 822,624
Total Allocations
$ 2,705,943
Section 199A Tax Deduction Section 199A is a tax deduction that applies to proceeds from agricultural goods produced and/or marketed by farmers cooperatives, and is most commonly passed down to individual farmers. This tax deduction allows farmers to reinvest these dollars into their operations and communities. MKC recognizes the value of the Section 199A pass-through to our memberowners and will continue to work on ways to maximize the deduction on their behalf. Patronage and the pass-through deductions allocated to our members have been of great value and will continue to be a focus and strategy of management and the Board of Directors going forward. When passed under the Tax Cuts and Jobs Act of 2017, the Section 199 legislation became highly scrutinized by noncooperative grain companies. As a result, a section 199A “fix” was included in the Omnibus Government Spending Bill in 2018. Under the final legislative language contained in the Omnibus Government Spending Bill, section 199A was restored to former cooperative Section 199 benefits, thus allowing the cooperative to pass through excess 199A to our member-owners.
MKC History of the Section 199 Deduction Pass-through
The Section 199 Deduction was initially passed through by MKC in 2013 and has allowed farmers, our member-owners, to receive a deduction that will reduce all of their taxable income. The impact of Section 199 has been influential and has had a significant positive impact on local communities and MKC members. Below is the eight-year history of the Section 199 passthrough to member-owners from MKC: FYE 2021
FYE 2020
FYE 2019
FYE 2018
FYE 2017
FYE 2016
FYE 2015
FYE 2014
$7.3M (16 cents per bushel)
$8.2M (21 cents per bushel)
$3.2M (10 cents per bushel)
$3.2M (10 cents per bushel)
$5.5M (15 cents per bushel)
$3.9M (13 cents per bushel)
$3.8M (14 cents per bushel)
$3.1M (12 cents per bushel)
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Consolidated Balance Sheets Current Assets
2021
2020
$ 4,674,031
$ 563,932
4,741,901
4,445,514
21,654,009
8,681,442
(543,836)
(200,000)
17,919,017
3,851,977
3,022,125
5,793,071
Commodity margin accounts
22,203,556
20,899,083
Other
12,206,247
14,634,702
Prepaid inventories
42,305,647
19,398,209
Inventories on hand
380,769,729
320,978,764
508,952,426
399,046,694
Equity in other cooperatives
50,724,004
49,858,734
Investments in affiliates
39,432,341
34,572,388
1,819,274
2,686,624
91,975,619
87,117,746
Cost
173,069,499
142,152,736
Accumulated depreciation
(67,406,614)
(58,028,397)
105,662,885
84,124,339
$ 706,590,930
$ 570,288,779
Cash and cash equivalents Marketable securities, available for sale Accounts and notes receivable - trade Patrons and customers Allowance for doubtful accounts Grain shipments Grain storage receivable
Total Current Assets Other Assets Other
Total Other Assets Property, Plant and Equipment Net Property, Plant and Equipment Total Assets
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2021 MKC ANNUAL REPORT
February 28, 2021 and February 29, 2020
Current Liabilities Accounts payable and accrued expenses Customer prepaid sales contracts
2021
2020
$ 109,358,228
$ 65,684,420
34,500,686
12,975,119
276,922,536
253,685,479
6,656,256
4,617,259
13,661,657
9,029,002
441,099,363
345,991,279
86,033,997
51,750,165
Patron certificates of indebtedness
6,374,370
6,343,594
Capital lease obligations
1,521,482
2,840,624
Deferred income taxes
2,681,642
-
Other
7,650,525
6,130,558
104,262,016
67,064,941
11,420,900
11,966,500
5,888,800
5,606,650
Allocated Patronage
39,213,798
39,204,092
Contributed capital
10,671,963
10,567,189
Retained earnings
77,461,151
71,906,706
Non-controlling interests
16,731,016
18,168,668
(158,077)
(187,246)
161,229,551
157,232,559
$ 706,590,930
$ 570,288,779
Revolving bank notes Patron demand certificates Current maturities of long-term debt
Total Current Liabilities Long-Term Liabilities, excluding current maturities Non-revolving bank notes
Total Long-term Liabilities Members’ Equity Common stock Participating stock
Accumulated other comprehensive income (loss)
Total Members’ Equity Total Liabilities and Members’ Equity
Financial Statement Presentation | The statements presented within do not contain all necessary disclosures to be considered in conformity with accounting principles generally accepted in the United States of America. A report containing the required disclosures is on file at the general office.
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Consolidated Statements of Operations Sales
2021
2020
$ 586,931,084
$ 344,194,950
208,174,618
137,825,504
795,105,702
482,020,454
Grain
539,981,038
295,919,553
Farm supply
179,164,808
120,787,811
Total Cost of Sales
719,145,846
416,707,364
Gross Margins of Sales
75,959,856
65,313,090
10,200,348
12,870,415
Grain Farm supply
Total Sales Cost of Sales
Other Operating Income Grain storage and handling services Limited liability companies
4,743,332
5,260,193
10,625,151
7,971,483
838,957
414,538
Gain on disposal of property, plant and equipment
1,044,188
264,957
Miscellaneous
8,684,524
3,403,272
Total Other Operating Income
36,136,500
30,184,858
Gross Income from Local Operations
112,096,356
95,497,948
Personnel costs
38,931,780
31,187,473
Fixed expenses
23,463,657
21,359,065
Other operating expenses
32,387,120
26,842,061
Total Operating Expenses
94,782,557
79,388,599
Earnings from Local Operations
17,313,799
16,109,349
Agronomy services Interest income
Operating Expenses
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2021 MKC ANNUAL REPORT
For Years Ended February 28, 2021 and February 29, 2020
Other Earnings
2021
2020
4,923,862
6,940,938
Gain on business acquisitions
425,080
2,758,082
Investment income
330,540
238,754
Total Other Earnings
5,679,482
9,937,774
Net Earnings Before Income Taxes
22,993,281
26,047,123
Patronage dividends
Provision for Income Taxes Current income taxes
11,401
10,120
Deferred income taxes
95,253
735,025
106,654
745,145
Net Earnings Before Non-Controlling Interests
23,099,935
26,792,268
Non-Controlling Interests
(15,680,152)
(16,882,978)
7,419,783
9,909,290
29,169
(181,010)
29,169
(181,010)
$ 7,448,952
$ 9,728,280
$ 1,883,319
$ 1,527,861
5,536,464
8,381,429
29,169
(181,010)
7,448,952
$ 9,728,280
Total Provision for Income Taxes
Net Earnings Attributable to Parent Before Other Comprehensive Income Other Comprehensive Income Unrealized gain on fair value of interest rate swaps
Total Other Comprehensive Income (Loss) Total Comprehensive Income Distribution of Comprehensive Income Patronage dividends Retained earnings Other comprehensive income
Total
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Financial Performance Total assets of the company are at $706,590,930. Total assets increased this past year due to an increase in the company owned grain position (inventory) as well as the acquisition of Mid-West Fertilizer, LLC.
Total Assets $800,000,000 $700,000,000
706,590,930
$600,000,000 570,288,779
$500,000,000
519,165,314
$400,000,000 $300,000,000 $200,000,000
493,701,186
434,745,237
209,411,086
227,504,568
346,645,094
347,219,951
2015
2016
206,170,887
$100,000,000 $0
2012
2013
2014
2017
2018
2019
2020
2021
Net earnings for FY2021 were $7,448,952. Net earnings are important to the organization because it allows the company to attract talented employees, redeem past patronage, retire debt and reinvest in infrastructure.
Net Earnings $20,000,000 $18,000,000
18,212,363
$16,000,000 $14,000,000 $12,000,000
13,342,854
14,073,776
$10,000,000 9,111,101
$8,000,000
9,800,584
9,034,716
9,728,280
7,944,596
$6,000,000
7,448,952 5,849,978
$4,000,000 $2,000,000 $0
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2012
2021 MKC ANNUAL REPORT
2013
2014
2015
2016
2017
2018
2019
2020
2021
Financial Performance and Community Investment MKC’s working capital position is at $67,853,063. Working capital is a good indicator of a company’s ability to meet upcoming debt obligation.
Working Capital $80,000,000 $70,000,000
67,853,063
$60,000,000 $50,000,000
53,055,415
49,981,676 46,757,877
$40,000,000 $30,000,000 26,749,878
35,102,439
35,017,726
35,876,161
2015
2016
2017
28,628,956 25,430,215
$20,000,000 $10,000,000 $0
2012
2013
2014
2018
2019
2020
2021
MKC provides benefits to over 130 communities in the form of personnel costs, local taxes and other expenses. These payments have a significant impact on communities and help support the businesses and services we utilize.
Community Investment $60,000,000
58,822,181
$50,000,000 46,681,160
$40,000,000
40,506,382
41,926,369
37,635,917 35,335,447 32,862,108
$30,000,000 25,279,674
24,787,234
2012
2013
26,305,850
$20,000,000 $10,000,000 $0
2014
2015
2016
2017
2018
2019
2020
2021 REIMAGINE
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Growth in Net Fixed Assets Local net fixed assets reflect the ending balances of cumulative investments in property, plant and equipment of the company.
Growth in MKC Net Fixed Assets $120,000,000
105,662,885
$100,000,000 $80,000,000
84,124,399
70,189,348
72,103,212
70,307,399
69,353,972
2018
2019
65,145,213
$60,000,000 $40,000,000
41,111,757 30,739,856
32,541,117
$20,000,000 $0
2012
2013
2014
Growth in Combined Net Fixed Assets
2015
2016
2017
2020
2021
Net overall fixed assets reflect the ending balances of cumulative investments in property, plant and equipment of MKC and its affiliates – Mid-West Fertilizer, Producer Ag, FarmKan, A+ Aviation Services and Countryside Feed.
$200,000,000 184,487,406
160,224,217
$150,000,000 142,643,663
147,409,272
2018
2019
130,216,270
$100,000,000
104,334,618 88,775,996
$50,000,000
$0
18
52,419,383 37,015,160
38,945,105
2012
2013
2021 MKC ANNUAL REPORT
2014
2015
2016
2017
2020
2021
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