Consolidating Financial Information by Industry Segment (Table Text Block) | 12 Months Ended |
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 |
Table Text Block Supplement [Abstract] | | | |
Consolidated Balance Sheet by Industry Segment | Consolidating balance sheets by industry segment as of March 31, 2022 are as follows: Moving & Storage Consolidated Property & Casualty Insurance (a) Life Insurance (a) Eliminations AMERCO Consolidated (In thousands) Assets: Cash and cash equivalents $ 2,643,213 $ 10,800 $ 50,124 $ – $ 2,704,137 Reinsurance recoverables and trade receivables, net 142,895 50,235 36,213 – 229,343 Inventories and parts, net 158,888 – – – 158,888 Prepaid expenses 236,915 – – – 236,915 Investments, fixed maturities and marketable equities – 297,488 2,595,911 – 2,893,399 Investments, other 20,653 114,269 408,833 – 543,755 Deferred policy acquisition costs, net – – 103,828 – 103,828 Other assets 57,305 371 2,733 – 60,409 Right of use assets - financing, net 620,824 – – – 620,824 Right of use assets - operating, net 74,190 93 99 – 74,382 Related party assets 64,611 6,713 16,911 (40,384) (c) 47,851 4,019,494 479,969 3,214,652 (40,384) 7,673,731 Investment in subsidiaries 737,073 – – (737,073) (b) – Property, plant and equipment, at cost: Land 1,283,142 – – – 1,283,142 Buildings and improvements 5,974,639 – – – 5,974,639 Furniture and equipment 846,132 – – – 846,132 Rental trailers and other rental equipment 615,679 – – – 615,679 Rental trucks 4,638,814 – – – 4,638,814 13,358,406 – – – 13,358,406 Less: Accumulated depreciation (3,732,556) – – – (3,732,556) Total property, plant and equipment, net 9,625,850 – – – 9,625,850 Total assets $ | Consolidating balance sheets by industry segment as of March 31, 2021 are as follows: Moving & Storage Consolidated Property & Casualty Insurance (a) Life Insurance (a) Eliminations AMERCO Consolidated (In thousands) Assets: Cash and cash equivalents $ 1,010,275 $ 5,658 $ 178,079 $ – $ 1,194,012 Reinsurance recoverables and trade receivables, net 118,741 67,069 38,616 – 224,426 Inventories and parts, net 105,577 – – – 105,577 Prepaid expenses 469,144 – – – 469,144 Investments, fixed maturities and marketable equities – 295,753 2,399,903 – 2,695,656 Investments, other 20,733 90,412 378,614 – 489,759 Deferred policy acquisition costs, net – – 89,749 – 89,749 Other assets 44,763 436 2,531 – 47,730 Right of use assets - financing, net 877,038 – – – 877,038 Right of use assets - operating, net 92,245 92 168 – 92,505 Related party assets 54,042 6,854 13,850 (39,351) (c) 35,395 2,792,558 466,274 3,101,510 (39,351) 6,320,991 Investment in subsidiaries 741,860 – – (741,860) (b) – Property, plant and equipment, at cost: Land 1,075,813 – – – 1,075,813 Buildings and improvements 5,163,705 – – – 5,163,705 Furniture and equipment 786,505 – – – 786,505 Rental trailers and other rental equipment 477,921 – – – 477,921 Rental trucks 3,909,724 – – – 3,909,724 11,413,668 – – – 11,413,668 Less: Accumulated depreciation (3,083,053) – – – (3,083,053) Total property, plant and equipment, net 8,330,615 – – – 8,330,615 Total assets $ | |
Consolidated Statement of Operations by Industry Segment | Consolidating statements of operations by industry segment for period ending March 31, 2022 are as follows: Moving & Storage Property & Casualty Insurance (a) Life Eliminations AMERCO (In thousands) Revenues: Self-moving equipment rentals $ 3,963,535 $ – $ – $ (4,728) (c) $ 3,958,807 Self-storage revenues 617,120 – – – 617,120 Self-moving & self-storage products & service sales 351,447 – – – 351,447 Property management fees 35,194 – – – 35,194 Life insurance premiums – – 111,027 – 111,027 Property and casualty insurance premiums – 89,667 – (3,149) (c) 86,518 Net investment and interest income 3,135 25,376 123,809 (4,059) (b) 148,261 Other revenue 427,836 – 3,976 (439) (b) 431,373 Total revenues 5,398,267 115,043 238,812 (12,375) 5,739,747 Costs and expenses: Operating expenses 2,621,270 42,456 21,112 (8,297) (b,c) 2,676,541 Commission expenses 429,581 – – – 429,581 Cost of sales 259,585 – – – 259,585 Benefits and losses – 22,448 164,199 – 186,647 Amortization of deferred policy acquisition costs – – 33,854 – 33,854 Lease expense 31,973 359 109 (2,531) (b) 29,910 Depreciation, net gains on disposals 482,752 – – – 482,752 Net gains on disposal of real estate (4,120) – – – (4,120) Total costs and expenses 3,821,041 65,263 219,274 (10,828) 4,094,750 Earnings from operations before equity in earnings of subsidiaries 1,577,226 49,780 19,538 (1,547) 1,644,997 Equity in earnings of subsidiaries 54,746 – – (54,746) (d) – Earnings from operations 1,631,972 49,780 19,538 (56,293) 1,644,997 Other components of net periodic benefit costs (1,120) – – – (1,120) Interest expense (168,491) – (480) 1,547 (b) (167,424) Fees on early extinguishment of debt (956) – – – (956) Pretax earnings 1,461,405 49,780 19,058 (54,746) 1,475,497 Income tax expense (338,119) (10,378) | Consolidating statements of operations by industry segment for period ending March 31, 2021 are as follows: Moving & Storage Property & Casualty Insurance (a) Life Eliminations AMERCO (In thousands) Revenues: Self-moving equipment rentals $ 3,086,824 $ – $ – $ (3,507) (c) $ 3,083,317 Self-storage revenues 477,262 – – – 477,262 Self-moving & self-storage products & service sales 344,929 – – – 344,929 Property management fees 31,603 – – – 31,603 Life insurance premiums – – 121,609 – 121,609 Property and casualty insurance premiums – 70,285 – (1,506) (c) 68,779 Net investment and interest income 2,259 16,452 107,745 (3,518) (b) 122,938 Other revenue 288,797 – 3,280 (529) (b) 291,548 Total revenues 4,231,674 86,737 232,634 (9,060) 4,541,985 Costs and expenses: Operating expenses 2,137,381 35,450 20,376 (5,523) (b,c) 2,187,684 Commission expenses 329,609 – – – 329,609 Cost of sales 214,059 – – – 214,059 Benefits and losses – 18,558 160,954 – 179,512 Amortization of deferred policy acquisition costs – – 28,293 – 28,293 Lease expense 30,551 231 135 (2,447) (b) 28,470 Depreciation, net gains on disposals 609,930 – – – 609,930 Net losses on disposal of real estate 3,281 – – – 3,281 Total costs and expenses 3,324,811 54,239 209,758 (7,970) 3,580,838 Earnings from operations before equity in earnings of subsidiaries 906,863 32,498 22,876 (1,090) 961,147 Equity in earnings of subsidiaries 44,441 – – (44,441) (d) – Earnings from operations 951,304 32,498 22,876 (45,531) 961,147 Other components of net periodic benefit costs (987) – – – (987) Interest expense (164,592) – – 1,090 (b) (163,502) Pretax earnings 785,725 32,498 22,876 (44,441) 796,658 Income tax expense (174,869) (6,778) (4,155) – (185,802) Earnings available to common shareholders $ 610,856 $ 25,720 | Consolidating statements of operations by industry segment for period ending March 31, 2020 are as follows: Moving & Storage Property & Casualty Insurance (a) Life Eliminations AMERCO (In thousands) Revenues: Self-moving equipment rentals $ 2,696,516 $ – $ – $ (4,103) (c) $ 2,692,413 Self-storage revenues 418,741 – – – 418,741 Self-moving & self-storage products & service sales 265,091 – – – 265,091 Property management fees 30,406 – – – 30,406 Life insurance premiums – – 127,976 – 127,976 Property and casualty insurance premiums – 69,141 – (3,088) (c) 66,053 Net investment and interest income 10,593 19,923 109,018 (1,705) (b) 137,829 Other revenue 236,419 – 4,470 (530) (b) 240,359 Total revenues 3,657,766 89,064 241,464 (9,426) 3,978,868 Costs and expenses: Operating expenses 2,069,655 33,770 21,425 (7,702) (b,c) 2,117,148 Commission expenses 288,332 – – – 288,332 Cost of sales 164,018 – – – 164,018 Benefits and losses – 12,410 162,426 – 174,836 Amortization of deferred policy acquisition costs – – 31,219 – 31,219 Lease expense 27,494 – – (612) (b) 26,882 Depreciation, net gains on disposals 637,063 – – – 637,063 Net gains on disposal of real estate (758) – – – (758) Total costs and expenses 3,185,804 46,180 215,070 (8,314) 3,438,740 Earnings from operations before equity in earnings of subsidiaries 471,962 42,884 26,394 (1,112) 540,128 Equity in earnings of subsidiaries 55,789 – – (55,789) (d) – Earnings from operations 527,751 42,884 26,394 (56,901) 540,128 Other components of net periodic benefit costs (1,054) – – – (1,054) Interest expense (162,062) – – 1,112 (b) (160,950) Pretax earnings 364,635 42,884 26,394 (55,789) 378,124 Income tax benefit (expense) 77,413 (8,956) (4,533) – 63,924 Earnings available to common shareholders $ 442,048 $ 33,928 |
Consolidated Cash Flow Statement by Industry Segment | Consolidating cash flow statements by industry segment for the year ended March 31, 2022, are as follows: Moving & Storage Consolidated Property & Casualty Insurance (a) Life Insurance (a) Elimination AMERCO Consolidated (In thousands) Cash flows from operating activities: Net earnings $ 1,123,286 $ 39,402 $ 15,344 $ (54,746) $ 1,123,286 Earnings from consolidated subsidiaries (54,746) – – 54,746 – Adjustments to reconcile net earnings to cash provided by operations: Depreciation 696,955 – – – 696,955 Amortization of deferred policy acquisition costs – – 33,854 – 33,854 Amortization of premiums and accretion of discounts related to investments, net – 1,638 18,111 – 19,749 Amortization of debt issuance costs 5,659 – – – 5,659 Interest credited to policyholders – – 64,692 – 64,692 Change in allowance for losses on trade receivables 4,689 (456) (6) – 4,227 Change in allowance for inventories and parts reserve 15,235 – – – 15,235 Net gains on disposal of personal property (214,203) – – – (214,203) Net gains on disposal of real estate (4,120) – – – (4,120) Net gains on sales of investments – (991) (10,881) – (11,872) Net gains on equity securities – (7,837) – – (7,837) Deferred income taxes 106,869 1,347 (7,125) – 101,091 Net change in other operating assets and liabilities: Reinsurance recoverables and trade receivables (28,776) 17,180 2,409 – (9,187) Inventories and parts (68,536) – – – (68,536) Prepaid expenses 232,342 – – – 232,342 Capitalization of deferred policy acquisition costs – – (32,626) – (32,626) Other assets (2,919) 346 (133) – (2,706) Related party assets (10,517) 160 – – (10,357) Accounts payable and accrued expenses 23,839 1,821 3,092 – 28,752 Policy benefits and losses, claims and loss expenses payable (8,428) (18,563) 7,299 – (19,692) Other policyholders' funds and liabilities – (177) | Consolidating cash flow statements by industry segment for the year ended March 31, 2021, are as follows: Moving & Storage Consolidated Property & Casualty Insurance (a) Life Insurance (a) Elimination AMERCO Consolidated (In thousands) Cash flows from operating activities: Net earnings $ 610,856 $ 25,720 $ 18,721 $ (44,441) $ 610,856 Earnings from consolidated subsidiaries (44,441) – – 44,441 – Adjustments to reconcile net earnings to cash provided by operations: Depreciation 664,001 – – – 664,001 Amortization of deferred policy acquisition costs – – 28,293 – 28,293 Amortization of premiums and accretion of discounts related to investments, net – 1,578 12,651 – 14,229 Amortization of debt issuance costs 5,948 – – – 5,948 Interest credited to policyholders – – 55,321 – 55,321 Change in allowance for losses on trade receivables 1,424 (217) (1) – 1,206 Change in allowance for inventories and parts reserve 1,298 – – – 1,298 Net gains on disposal of personal property (54,071) – – – (54,071) Net losses on disposal of real estate 3,281 – – – 3,281 Net gains on sales of investments – (158) (9,900) – (10,058) Net gains on equity securities – (394) – – (394) Deferred income taxes 72,407 459 (4,455) – 68,411 Net change in other operating assets and liabilities: Reinsurance recoverables and trade receivables (60,806) 27,302 (6,012) – (39,516) Inventories and parts (5,775) – – – (5,775) Prepaid expenses 94,359 – – – 94,359 Capitalization of deferred policy acquisition costs – – (36,162) – (36,162) Other assets 29,879 537 (551) – 29,865 Related party assets (12,790) 303 – 12,000 (b) (487) Accounts payable and accrued expenses 96,309 (3,497) 113 – 92,925 Policy benefits and losses, claims and loss expenses payable 14,919 (31,398) 14,487 – (1,992) Other policyholders' funds and liabilities – (2,053) | Consolidating cash flow statements by industry segment for the year ended March 31, 2020 are as follows: Moving & Storage Consolidated Property & Casualty Insurance (a) Life Insurance (a) Elimination AMERCO Consolidated (In thousands) Cash flows from operating activities: Net earnings $ 442,048 $ 33,928 $ 21,861 $ (55,789) $ 442,048 Earnings from consolidated subsidiaries (55,789) – – 55,789 – Adjustments to reconcile net earnings to cash provided by operations: Depreciation 664,120 – – – 664,120 Amortization of deferred policy acquisition costs – – 31,219 – 31,219 Amortization of premiums and accretion of discounts related to investments, net – 1,469 11,848 – 13,317 Amortization of debt issuance costs 4,426 – – – 4,426 Interest credited to policyholders – – 51,857 – 51,857 Change in allowance for losses on trade receivables (14) – – – (14) Change in allowance for inventories and parts reserve 640 – – – 640 Net gains on disposal of personal property (27,057) – – – (27,057) Net gains on disposal of real estate (758) – – – (758) Net gains on sales of investments – (355) (13,241) – (13,596) Net gains on equity securities – (3,783) – – (3,783) Deferred income taxes 323,980 (2,847) (3,240) – 317,893 Net change in other operating assets and liabilities: Reinsurance recoverables and trade receivables 30,771 8,127 (769) – 38,129 Inventories and parts 1,776 – – – 1,776 Prepaid expenses (391,120) – – – (391,120) Capitalization of deferred policy acquisition costs – – (24,447) – (24,447) Other assets (3,099) 2,098 (294) – (1,295) Related party assets (5,106) (539) – – (5,645) Accounts payable and accrued expenses (4,428) 2,688 (2,790) – (4,530) Policy benefits and losses, claims and loss expenses payable 3,092 (19,618) 3,908 – (12,618) Other policyholders' funds and liabilities – 491 |