Financial statements for U.S. dairy cooperatives in 2002 are presented. The nation's dairy cooperatives were categorized into five groups based on their primary function (bargaining-only, commodity-manufacturing, niche-marketing, fluid-processing and diversified) and according to size (net volume of milk handled). Balance sheets and operating statements were presented on a per-cwt, per-cooperative and common-size basis for U.S. dairy cooperatives by operating type and by size category. Financial ratios are also presented for each type and size group. Dairy cooperatives employed $6.22 of assets per cwt to market member milk in 2002. One-third of the assets were financed by member equity. Net margins before tax of $0.21 per cwt of milk handled represented a 1.2 percent return on total sales.