U-Haul Holding (UHAL) 10-Q 7 Aug 24 2024 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jun. 30, 2024	Aug. 07, 2024
Document and Entity Information [Abstract]
Entity Registrant Name	U-Haul Holding Company
Entity Central Index Key	0000004457
Entity Current Reporting Status	Yes
Entity Small Business	false
Current Fiscal Year End Date	--03-31
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Document Fiscal Year Focus	2024
Document Type	10-Q
Document Fiscal Period Focus	Q3
Document Period End Date	Jun. 30, 2024
Amendment Flag	false
Entity Shell Company	false
Entity Interactive Data Current	Yes
Entity File Number	001-11255
Entity Tax Identification Number	88-0106815
Entity address, address line one	5555 Kietzke Lane
Entity address, address line two	Ste 100
Entity address, City or Town	Reno
Entity address, State or Province	NV
Entity address, postal zip code	89511
City Area Code	775
Local Phone Number	688-6300
Entity Incorporation, State or Country Code	NV
Document Quarterly Report	true
Document Transition Report	false
Common Stock [Member]
Document and Entity Information [Abstract]
Trading Symbol	UHAL
Entity Common Stock, Shares Outstanding		19,607,788
Title of 12(b) Security	Common Stock, $0.25 par value
Security Exchange Name	NYSE
Nonvoting Common Stock [Member]
Document and Entity Information [Abstract]
Trading Symbol	UHAL.B
Entity Common Stock, Shares Outstanding		176,470,092
Title of 12(b) Security	Series N Non-Voting Common Stock, $0.001 par value
Security Exchange Name	NYSE

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
ASSETS:
Cash and cash equivalents	$ 1,153,161	$ 1,534,544
Reinsurance recoverables and trade receivables, net	253,638	215,908
Inventories, net	157,625	150,940
Prepaid Expense	248,147	246,082
Fixed maturities - available for sale	2,395,890	2,442,504
Equity securities, at estimated fair value	74,066	66,274
Investments, other	638,423	633,936
Deferred policy acquisition costs, net	119,806	121,224
Other assets	123,878	111,743
Right of use Assets - Financing	265,744	289,305
Right of use Assets - Operating	53,255	53,712
Related Parties Amounts Due	67,254	57,934
Subtotal assets	18,964,066	18,185,784
Property, plant and equipment, at cost:
Land	1,727,668	1,670,033
Buildings and improvements	8,591,016	8,237,354
Furniture and equipment	1,014,086	1,003,770
Property, plant and equipment (gross)	5,550,887	5,924,106
Less: Accumulated depreciation	(5,209,526)	(5,051,132)
Total property, plant and equipment	13,754,540	13,134,652
Total assets	19,305,427	19,058,758
Liabilities:
Accounts payable and accrued expenses	833,296	783,084
Notes, loans and leases payable	6,280,305	6,271,362
Operating lease liability	54,485	55,032
Policy benefits and losses, claims and loss expenses payable	841,861	849,113
Liabilities from investment contracts	2,406,464	2,411,352
Other policyholders' funds and liabilities	5,832	18,070
Deferred income	62,587	51,175
Deferred Income Tax Liabilities, Net	1,470,156	1,447,125
Total liabilities	11,954,986	11,886,313
Commitments and contingencies (notes 4 and 9)
Stockholders' equity:
Additional paid-in capital	462,548	462,548
Accumulated other comprehensive loss	(231,813)	(223,216)
Retained earnings	7,786,683	7,600,090
Total stockholders' equity	7,350,441	7,172,445
Total liabilities and stockholders' equity		19,058,758
Series A Preferred Stock [Member]
Stockholders' equity:
Preferred stock, value, issued	0	0
Series B Preferred Stock [Member]
Stockholders' equity:
Preferred stock, value, issued	0	0
Serial Common Stock [Member]
Stockholders' equity:
Common stock, value, issued	0	0
Amerco Common Stock [Member]
Stockholders' equity:
Common stock, value, issued	10,497	10,497
Nonvoting Common Stock [Member]
Stockholders' equity:
Common stock, value, issued	176	176
Common Stock in Treasury [Member]
Stockholders' equity:
Treasury stock, value	(525,653)	(525,653)
Preferred Stock in Treasury [Member]
Stockholders' equity:
Treasury stock, value	(151,997)	(151,997)
Rental Trailers and Other Rental Equipment [Member]
Property, plant and equipment, at cost:
Property subject to or available for operating lease, gross	960,853	936,303
Rental Trucks [Member]
Property, plant and equipment, at cost:
Property subject to or available for operating lease, gross	$ 6,670,443	$ 6,338,324

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
Available-for-sale Securities [Abstract]
Available for sale investments, allowance for credit loss, net	$ 2,995	$ 1,052
Debt Securities, Available-for-Sale, Amortized Cost, Current	$ 2,631,881	$ 2,660,093
Series Preferred Stock With or Without Par Value [Member]
Preferred stock:
Preferred stock, shares authorized	50,000,000	50,000,000
Series A Preferred Stock [Member]
Preferred stock:
Preferred stock, shares authorized	6,100,000	6,100,000
Preferred stock, shares issued	6,100,000	6,100,000
Series B Preferred Stock [Member]
Preferred stock:
Preferred stock, shares authorized	100,000	100,000
Serial Common Stock With or Without Par Value [Member]
Common stock:
Common stock, shares authorized	250,000,000	250,000,000
Common stock, par or stated value per share	$ 0.25	$ 0.25
Serial Common Stock [Member]
Common stock:
Common stock, shares authorized	10,000,000	10,000,000
Common Stock [Member]
Common stock:
Common stock, shares authorized	250,000,000	250,000,000
Common stock, par or stated value per share	$ 0.25	$ 0.25
Amerco Common Stock [Member]
Common stock:
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares, issued	41,985,700	41,985,700
Common stock, shares, outstanding	19,607,788	19,607,788
Common stock, par or stated value per share	$ 0.25	$ 0.25
Nonvoting Common Stock [Member]
Common stock:
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares, outstanding	176,470,092	176,470,092
Common stock, par or stated value per share	$ 0.001	$ 0.001
Common Stock in Treasury [Member]
Treasury stock:
Treasury Stock Common Shares	22,377,912	22,377,912
Preferred Stock in Treasury [Member]
Treasury stock:
Treasury Stock Common Shares	6,100,000	6,100,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Revenues:
Self-moving equipment rentals	$ 1,014,332	$ 999,206
Self-storage revenues	215,737	198,961
Self moving and self-storage products and service sales	96,591	100,872
Property management fees	9,495	9,177
Life insurance premiums	20,740	23,131
Property and casualty insurance premiums	21,229	20,322
Net investment and Interest income	37,125	64,592
Other revenue	133,241	124,047
Total revenues	1,548,490	1,540,308
Costs and expenses:
Operating Costs and Expenses	789,757	763,241
Commission expenses	112,571	106,927
Cost of product sales	66,014	70,675
Benefits and losses	44,006	45,344
Amortization of deferred policy acquisition costs	4,646	8,045
Lease expense	5,605	7,583
Depreciation, net of (gains) losses on disposals	216,545	137,814
Net (gains) losses on disposal of real estate	3,104	1,021
Operating Expenses, Total	1,242,248	1,140,650
Earnings from operations	306,242	399,658
Other components of net periodic benefit costs	(372)	(365)
Interest Income, Other	18,235
Interest expense	(67,218)	(60,598)
Fees and amortization on early extinguishment of debt	(495)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	256,392	338,695
Income tax expense	(60,975)	(81,857)
Earnings available to common stockholders	$ 195,417	$ 256,838
Common Stock [Member]
Costs and expenses:
Basic and diluted earnings per common share	$ 0.95	$ 1.27
Weighted average common shares outstanding: basic and diluted	19,607,788	19,607,788
Nonvoting Common Stock [Member]
Costs and expenses:
Basic and diluted earnings per common share	$ 1	$ 1.31
Weighted average common shares outstanding: basic and diluted	176,470,092	176,470,092
Nonvoting Common Stock [Member] | Common Stock [Member]
Costs and expenses:
Weighted average common shares outstanding: basic and diluted	196,077,880	196,077,880

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations Parenthetical - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Depreciation:
Net of (gains) losses on sale of real and personal property	$ 7,768	$ 55,661
Related party:
Related party, revenues, net of eliminations	9,495	9,177
Related party, costs and expenses, net of eliminations	$ 30,600	$ 23,700

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Comprehensive income (loss) (pretax):
Pretax earnings (loss)	$ 256,392	$ 338,695
Comprehensive income (loss) (tax effect):
Income tax expense	(60,975)	(81,857)
Comprehensive income (loss) (net of tax):
Earnings available to common stockholders	195,417	256,838
Other comprehensive income (loss):
Foreign currency translation (pretax)	204	469
Foreign currency translation (net of tax)	204	469
Unrealized gain (loss) on investments (pretax)	7,465	25,543
Unrealized gain (loss) on investments (tax effect)	(2,052)	(5,199)
Unrealized gain (loss) on investments (net of tax)	5,413	20,344
Change in fair value of cash flow hedges (pre-tax)	2,526	5,093
Change in fair value of cash flow hedges (tax effect)	(621)	(1,251)
Change in fair value of cash flow hedges (net of tax)	1,905	3,842
Amounts reclassified into earnings on hedging activities (pre tax)	1,425	1,150
Amounts reclassified into earnings on hedging activities (tax effect)	(350)	(282)
Amounts reclassified into earnings on hedging activities (net of tax)	1,075	868
Other Comprehensive Income (Loss), before Tax	11,620	29,955
Other Comprehensive Income (Loss), Tax	3,023	6,168
Total other comprehensive income (loss) (net of tax)	8,597	23,787
Total comprehensive income (loss) (pretax)	244,772	368,650
Total comprehensive income (loss) (tax effect)	(57,952)	(88,025)
Total comprehensive income (loss) (net of tax)	$ 186,820	$ 280,625

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]	Less: Treasury Common Stock [Member]	Less: Treasury Preferred Stock [Member]	Nonvoting Common Stock [Member] Common Stock [Member]
Balance, beginning of period at Mar. 31, 2023	$ 6,504,191	$ 10,497	$ 453,643	$ 285,623	$ 7,003,148	$ 525,653	$ 151,997	$ 176
Cosolidated statement of change in equity
Foreign currency translation	469			469
Unrealized net gain (loss) on investments, net of tax	20,344			20,344
Change in fair value of cash flow hedges	3,842			3,842
Amounts reclassified into earnings on hedging activities, net	868			868
Net Income (Loss)	256,838				256,838
Series N Non-Voting Common Stock dividends paid	(7,059)				(7,059)
Net activity	273,566			23,787	249,779
Balance, end of period at Jun. 30, 2023	6,777,757	10,497	453,643	261,836	7,252,927	525,653	151,997	176
Balance, beginning of period at Mar. 31, 2024	7,172,445	10,497	462,548	223,216	7,600,090	525,653	151,997	176
Cosolidated statement of change in equity
Foreign currency translation	204			204
Unrealized net gain (loss) on investments, net of tax	5,413			5,413
Change in fair value of cash flow hedges	1,905			1,905
Amounts reclassified into earnings on hedging activities, net	1,075			1,075
Net Income (Loss)	195,417				195,417
Common stock dividends	(8,824)				(8,824)
Series N Non-Voting Common Stock dividends paid	(8,824)
Net activity	177,996			8,597	186,593
Balance, end of period at Jun. 30, 2024	$ 7,350,441	$ 10,497	$ 462,548	$ 231,813	$ 7,786,683	$ 525,653	$ 151,997	$ 176

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Nonvoting Common Stock [Member]
Common Stock, Dividends, Per Share, Declared	$ 0.05	$ 0.04

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flow from operating activities:
Net Income (Loss)	$ 195,417	$ 256,838
Adjustments to reconcile net earnings to cash provided by operations:
Depreciation	224,313	193,475
Amortization of premiums and accretion of discounts related to investments, net	4,253	4,394
Amortization of debt issuance costs	1,550	1,456
Interest credited to policyholders	19,507	17,538
Change in allowance for losses on trade receivables	2,052	592
Proceeds from Fees Received	2,623	4,384
Net gain on sale of real and personal property	(7,768)	(55,661)
Net losses on disposal of real estate	3,104	1,021
Net (gains) losses on sales of fixed maturity securities	(2,240)	(1,914)
Net gains on equity securities	(1,326)	(2,429)
Deferred income taxes	22,927	34,108
Net change in other operating assets and liabilities:
Reinsurance recoverables and trade receivables	(39,401)	(17,435)
Inventories and parts	(6,689)	(13,395)
Prepaid expenses	(2,142)	(9,870)
Capitalization of deferred policy acquisition costs	(1,418)	(4,868)
Other assets	(12,865)	(14,341)
Related party assets	(20,724)	(3,132)
Increase (Decrease) in Accounts Payable and Accrued Liabilities	52,770	33,112
Policy benefits and losses, claims and loss expenses payable	2,095	12,098
Other policyholders' funds and liabilities	12,238	3,986
Deferred income	11,434	11,999
Related party liabilities	11,353	2,197
Net cash provided by operating activities	453,903	465,697
Cash flow from investing activities:
Increase Decrease Escrow Deposits	691	361
Purchase of:
Property, plant and equipment	(963,163)	(773,577)
Fixed maturity investments	(77,777)	(13,208)
Equity securities		(242)
Investments, other	(23,430)	(52,865)
Proceeds from sales and paydowns of:
Property, plant and equipment	146,672	193,455
Fixed maturity investments	101,568	348,604
Equity securities	11	236
Investments, other	12,110	9,290
Net cash used by investing activities	(803,318)	(288,668)
Cash flow from financing activities:
Borrowings from credit facilities	349,233	445,493
Principal repayments on credit facilities	(321,670)	(232,824)
Payment of debt issuance costs	(248)	(2,688)
Finance lease payments	(19,260)	(34,168)
Securitization deposits	99	79
Series N Non-Voting Common Stock dividends paid	(8,824)	(7,059)
Investment contract deposits	76,417	51,239
Investment contract withdrawals	(107,185)	(83,331)
Net cash provided by financing activities	(31,438)	136,741
Effects of exchange rate on cash	(530)	2,830
Increase (decrease) in cash and cash equivalents	(381,383)	316,600
Cash and cash equivalents at the beginning of period	1,534,544	2,060,524
Cash and cash equivalents at the end of period	$ 1,153,161	$ 2,377,124

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 195,417	$ 256,838

Insider Trading Arrangements

Insider Trading Arrangements	9 Months Ended
	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation

Basis of Presentation	3 Months Ended
	Jun. 30, 2024
Disclosure Text Block [Abstract]
Basis of Presentation	1. Basis of Presentation U-Haul Holding Company, a Nevada corporation (“U-Haul Holding Company”), has a first fiscal quarter that ends on the 30th of June for each year that is referenced. Our insurance company subsidiaries have a first quarter that ends on the 31 st of March for each year that is referenced. They have been consolidated on that basis. Our insurance companies’ financial reporting processes conform to calendar year reporting as required by state insurance departments. We believe that consolidating their calendar year into our fiscal year financial statements does not materially affect the presentation of consolidated financial position or consolidated results of operations. We disclose material events, if any, occurring during the intervening period. Consequently, all references to our insurance subsidiaries’ years 2024 and 2023 correspond to fiscal 2025 and 2024 for U-Haul Holding Company. Accounts denominated in non-U.S. currencies have been translated into U.S. dollars. The accompanying interim consolidated financial statements are unaudited and reflect all adjustments (including normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented in conformity with the accounting principles generally accepted in the United States of America (“GAAP”). Interim results are not necessarily indicative of full year performance. The year-end consolidated balance sheet data was derived from audited consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended March 31, 2024, which include all disclosures required by GAAP. Compared to the consolidated annual financial statements, certain footnotes within the accompanying interim consolidated financial statements have been condensed. Therefore, these interim consolidated financial statements should be read in conjunction with the consolidated financial statements of the Company included in our Annual Report on Form 10-K for the fiscal year ended March 31, 2024. In our opinion, all adjustments necessary for the fair presentation of such consolidated financial statements have been included. Such adjustments consist only of normal recurring items. Intercompany accounts and transactions have been eliminated. The Company has reclassified certain prior period amounts to conform with the current period presentation on the Consolidated Statements of Cash Flows related to (1) amortization of deferred policy acquisition costs which was previously reported separately and is now included in deferred policy acquisition costs, net, (2) provision for allowance for inventories and parts reserves which was previously reported separately and is now included in inventories and parts, net, (3) purchases of short term investments, real estate, and mortgage loans which were previously reported separately and are now included in investments, other, (4) non-cash lease expense which was previously reported in other assets. Description of Legal Entities U-Haul Holding Company is the holding company for: U-Haul International, Inc. (“U-Haul”); Amerco Real Estate Company (“Real Estate”); Repwest Insurance Company (“Repwest”); and Oxford Life Insurance Company (“Oxford”). Unless the context otherwise requires, the terms “Company,” “we,” “us” or “our” refer to U-Haul Holding Company and all of its legal subsidiaries. Description of Operating Segments U-Haul Holding Company has three reportable segments. They are Moving and Storage, Property and Casualty Insurance and Life Insurance. The Moving and Storage operating segment (“Moving and Storage”) includes U-Haul Holding Company, U-Haul and Real Estate and the wholly owned subsidiaries of U-Haul and Real Estate. Operations consist of the rental of trucks and trailers, sales of moving supplies, sales of towing accessories, sales of propane, and the rental of fixed and portable moving and storage units to the “do-it-yourself” mover and management of self-storage properties owned by others. Operations are conducted under the registered trade name U-Haul ® throughout the United States and Canada. The Property and Casualty Insurance operating segment (“Property and Casualty Insurance”) includes Repwest and its wholly owned subsidiaries and ARCOA Risk Retention Group (“ARCOA”). Property and Casualty Insurance provides loss adjusting and claims handling for U-Haul ® through regional offices in the United States and Canada. Property and Casualty Insurance also underwrites components of the Safemove ® , Safetow ® , Safemove Plus ® , Safestor ® and Safestor Mobile ® protection packages to U-Haul customers. The business plan for Property and Casualty Insurance includes offering property and casualty insurance products in other U-Haul-related programs. ARCOA is a group captive insurer owned by us and our wholly owned subsidiaries whose purpose is to provide insurance products related to our moving and storage business. The Life Insurance operating segment (“Life Insurance”) includes Oxford and its wholly owned subsidiaries. Life Insurance provides life and health insurance products primarily to the senior market through the direct writing and reinsuring of life insurance, Medicare supplement and annuity policies.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share	2. Earnings per Share We calculate earnings per share using the two-class method in accordance with ASC Topic 260, Earnings Per Share . The two-class method allocates the undistributed earnings available to common stockholders to the Company’s outstanding common stock, $ 0.25 par value (the “Voting Common Stock”), and the Series N Non-Voting Common Stock, $ 0.001 par value (the “Non-Voting Common Stock”), based on each share’s percentage of total weighted average shares outstanding. The Voting Common Stock and Non-Voting Common Stock are allocated 10 % and 90 %, respectively, of our undistributed earnings available to common stockholders. This represents earnings available to common stockholders less the dividends declared for both the Voting Common Stock and Non-Voting Common Stock. Our undistributed earnings per share is calculated by taking the undistributed earnings available to common stockholders and dividing this number by the weighted average shares outstanding for the respective stock. If there was a dividend declared for that period, the dividend per share is added to the undistributed earnings per share to calculate the basic and diluted earnings per share. The process is used for both Voting Common Stock and Non-Voting Common Stock. The calculation of basic and diluted earnings per share for the quarters ended June 30, 2024 and 2023 for our Voting Common Stock and Non-Voting Common Stock were as follows: For the Quarters Ended June 30, 2024 2023 (Unaudited) (In thousands, except share and per share amounts) Weighted average shares outstanding of Voting Common Stock 19,607,788 19,607,788 Total weighted average shares outstanding for Voting Common Stock and Non-Voting Common Stock 196,077,880 196,077,880 Percent of weighted average shares outstanding of Voting Common Stock 10 % 10 % Net earnings available to common stockholders $ 195,417 $ 256,838 Voting Common Stock dividends declared and paid — — Non-Voting Common Stock dividends declared and paid ( 8,824 ) ( 7,059 ) Undistributed earnings available to common stockholders $ 186,593 $ 249,779 Undistributed earnings available to common stockholders allocated to Voting Common Stock $ 18,659 $ 24,978 Undistributed earnings per share of Voting Common Stock $ 0.95 $ 1.27 Dividends declared per share of Voting Common Stock $ — $ — Basic and diluted earnings per share of Voting Common Stock $ 0.95 $ 1.27 Weighted average shares outstanding of Non-Voting Common Stock 176,470,092 176,470,092 Total weighted average shares outstanding for Voting Common Stock and Non-Voting Common Stock 196,077,880 196,077,880 Percent of weighted average shares outstanding of Non-Voting Common Stock 90 % 90 % Net earnings available to common stockholders $ 195,417 $ 256,838 Voting Common Stock dividends declared and paid — — Non-Voting Common Stock dividends declared and paid ( 8,824 ) ( 7,059 ) Undistributed earnings available to common stockholders $ 186,593 $ 249,779 Undistributed earnings available to common stockholders allocated to Non-Voting Common Stock $ 167,934 $ 224,801 Undistributed earnings per share of Non-Voting Common Stock $ 0.95 $ 1.27 Dividends declared per share of Non-Voting Common Stock $ 0.05 $ 0.04 Basic and diluted earnings per share of Non-Voting Common Stock $ 1.00 $ 1.31

Investments

Investments	3 Months Ended
	Jun. 30, 2024
Investments Debt Equity Securities [Abstract]
Investments	3. Investments We deposit bonds with insurance regulatory authorities to meet statutory requirements. The adjusted cost of bonds on deposit with insurance regulatory authorities was $ 20.1 million and $ 23.1 million as of June 30, 2024 and March 31, 2024, respectively. Available-for-Sale Investments Available-for-sale investments as of June 30, 2024 were as follows: Amortized Gross Gross Allowance for Expected Credit Losses Fair (Unaudited) (In thousands) U.S. treasury securities and government obligations $ 147,881 $ 235 $ ( 9,361 ) $ — $ 138,755 U.S. government agency mortgage-backed securities 47,208 153 ( 8,044 ) — 39,317 Obligations of states and political subdivisions 150,396 313 ( 8,108 ) — 142,601 Corporate securities 1,987,105 1,318 ( 165,015 ) ( 2,995 ) 1,820,413 Mortgage-backed securities 299,291 33 ( 44,520 ) — 254,804 $ 2,631,881 $ 2,052 $ ( 235,048 ) $ ( 2,995 ) $ 2,395,890 Available-for-sale investments as of March 31, 2024 were as follows: Amortized Gross Gross Allowance for Expected Credit Losses Fair (In thousands) U.S. treasury securities and government obligations $ 191,070 $ 2,123 $ ( 8,921 ) $ — $ 184,272 U.S. government agency mortgage-backed securities 48,067 250 ( 7,664 ) — 40,653 Obligations of states and political subdivisions 151,197 918 ( 7,533 ) — 144,582 Corporate securities 1,963,249 2,762 ( 152,799 ) ( 1,052 ) 1,812,160 Mortgage-backed securities 306,510 34 ( 45,707 ) — 260,837 $ 2,660,093 $ 6,087 $ ( 222,624 ) $ ( 1,052 ) $ 2,442,504 A summary of available-for-sale investments with unrealized losses for which an allowance for credit losses has not been recorded, aggregated by investment category and length of time that individual securities have been in a continuous loss position as of June 30, 2024 and March 31, 2024 were as follows: June 30, 2024 Less than or equal to 1 year Greater than 1 year Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (Unaudited) (In thousands) U.S. treasury securities and government obligations $ 35,130 $ ( 40 ) $ 99,447 $ ( 9,321 ) $ 134,577 $ ( 9,361 ) U.S. government agency mortgage-backed securities — — 22,893 ( 8,044 ) 22,893 ( 8,044 ) Obligations of states and political subdivisions 31,299 ( 489 ) 81,171 ( 7,619 ) 112,470 ( 8,108 ) Corporate securities 204,656 ( 1,729 ) 1,500,739 ( 163,286 ) 1,705,395 ( 165,015 ) Mortgage-backed securities 10,340 ( 43 ) 242,491 ( 44,477 ) 252,831 ( 44,520 ) $ 281,425 $ ( 2,301 ) $ 1,946,741 $ ( 232,747 ) $ 2,228,166 $ ( 235,048 ) March 31, 2024 Less than or equal to 1 year Greater than 1 year Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (Unaudited) (In thousands) U.S. treasury securities and government obligations $ 1,888 $ ( 13 ) $ 103,336 $ ( 8,908 ) $ 105,224 $ ( 8,921 ) U.S. government agency mortgage-backed securities — — 23,711 ( 7,664 ) 23,711 ( 7,664 ) Obligations of states and political subdivisions 10,492 ( 222 ) 80,082 ( 7,311 ) 90,574 ( 7,533 ) Corporate securities 132,513 ( 1,258 ) 1,495,167 ( 151,541 ) 1,627,680 ( 152,799 ) Mortgage-backed securities 3,008 ( 23 ) 248,423 ( 45,684 ) 251,431 ( 45,707 ) $ 147,901 $ ( 1,516 ) $ 1,950,719 $ ( 221,108 ) $ 2,098,620 $ ( 222,624 ) Gross proceeds from matured or redeemed securities were $ 95.5 million and $ 338.0 million for the first three months ended June 30, 2024 and June 30, 2023 respectively. Included in the June 30, 2024 and 2023 proceeds were $ 73.0 million and $ 225.0 from the Moving and Storage Treasuries that matured. The gross realized gains on these sales totaled $ 3.6 million and $ 0.9 million during the first three months of fiscal 2025 and 2024 , respectively. The gross realized losses on these sales totaled $ 1.8 million and $ 0.5 million during the first three months of fiscal 2025 and 2024, respectively. For available-for-sale debt securities in an unrealized loss position, we first assess whether the security is below investment grade. For securities that are below investment grade, we evaluate whether the decline in fair value has resulted from credit losses or other factors such as the interest rate environment. Declines in value due to credit are recognized as an allowance. In making this assessment, management considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse market conditions specifically related to the security, among other factors. If this assessment indicates that a credit loss exists, cumulative default rates based on ratings are used to determine the potential cost of default, by year. The present value of these potential costs is then compared to the amortized cost of the security to determine the credit loss, limited by the amount that the fair value is less than the amortized cost basis. Declines in fair value that have not been recorded through an allowance for credit losses, such as declines due to changes in market interest rates, are recorded through accumulated other comprehensive income, net of applicable taxes. If we intend to sell a security, or it is more likely than not that we will be required to sell the security before recovery of its amortized cost basis, the security is written down to its fair value and the write down is charged against the allowance for credit losses, with any incremental impairment reported in earnings. Reversals of the allowance for credit losses are permitted and should not exceed the allowance amount initially recognized. Changes in the allowance for credit losses are recorded as provision for (or reversal of) credit loss expense. There was a $ 1.9 million and ($ 0.5 ) million net impairment charge recorded in the first three months ended June 30, 2024 and 2023, respectively. Expected maturities may differ from contractual maturities as borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. The adjusted cost and fair value of available-for-sale investments by contractual maturity were as follows: June 30, 2024 March 31, 2024 Amortized Fair Amortized Fair (Unaudited) (In thousands) Due in one year or less $ 301,514 $ 299,952 $ 266,357 $ 266,578 Due after one year through five years 608,709 587,286 748,338 723,903 Due after five years through ten years 664,240 605,525 614,890 564,422 Due after ten years 758,127 648,323 723,998 626,764 2,332,590 2,141,086 2,353,583 2,181,667 Mortgage-backed securities 299,291 254,804 306,510 260,837 $ 2,631,881 $ 2,395,890 $ 2,660,093 $ 2,442,504 Equity investments of common stock and non-redeemable preferred stock were as follows: June 30, 2024 March 31, 2024 Amortized Fair Amortized Fair (Unaudited) (In thousands) Common stocks $ 35,284 $ 51,999 $ 29,604 $ 45,014 Non-redeemable preferred stocks 25,144 22,067 25,144 21,260 $ 60,428 $ 74,066 $ 54,748 $ 66,274 Investments, other The carrying value of the other investments was as follows: June 30, March 31, 2024 2024 (Unaudited) (In thousands) Mortgage loans, net $ 617,230 $ 604,481 Short-term investments — 997 Policy loans 11,390 11,229 Other investments 9,803 17,229 $ 638,423 $ 633,936

Accounts Payable and Accrued Ex

Accounts Payable and Accrued Expense	3 Months Ended
	Jun. 30, 2024
Payables and Accruals [Abstract]
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	4. Accounts Payable and Accrued Expenses Accounts payable and accrued expenses were as follows: June 30, March 31, 2024 2024 (In thousands) Accounts payable $ 248,127 $ 240,053 Accrued expenses 585,169 543,031 $ 833,296 $ 783,084

Borrowings

Borrowings	3 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Notes, Loans and Finance Leases Payable, net	. Notes, Loans and Finance Leases Payable, net Long Term Debt Long term debt was as follows: Fiscal Year 2025 Interest Rates Maturities Weighted Avg Interest Rates (c) June 30, 2024 March 31, (Unaudited) (In thousands) Real estate loans (amortizing term) (a) 4.30 % - 6.80 % 2027 - 2037 5.89 % $ 274,797 $ 277,767 Senior mortgages 2.70 % - 6.05 % 2026 - 2042 4.16 % 2,222,442 2,284,853 Real estate loans (revolving credit) — % - — % — - 2027 - % — — Fleet loans (amortizing term) 1.61 % - 5.68 % 2024 - 2029 3.89 % 59,744 70,454 Fleet loans (revolving credit) (b) 6.57 % - 6.68 % 2027 - 2029 6.62 % 585,000 573,889 Finance leases (rental equipment) 2.86 % - 5.01 % 2024 - 2026 4.16 % 98,382 117,641 Finance liability (rental equipment) 1.60 % - 6.80 % 2024 - 2031 4.88 % 1,801,109 1,708,619 Private placements 2.43 % - 2.88 % 2029 - 2035 2.65 % 1,200,000 1,200,000 Other obligations 1.50 % - 8.00 % 2024 - 2049 6.26 % 70,202 70,815 Notes, loans and finance leases payable 6,311,676 6,304,038 Less: Debt issuance costs ( 31,371 ) ( 32,676 ) Total notes, loans and finance leases payable, net $ 6,280,305 $ 6,271,362 (a) Certain loans have interest rate swaps fixing the rate for the relevant loans between 2.72 % and 2.86 % based on current margin. The weighted average interest rate calculation for these loans was 4.10 % using the swap adjusted interest rate. (b) A loan has an interest rate swap fixing the rate for $ 100 million of the relevant loan at 4.71 % based on current margin. The weighted average interest rate calculation for these loans was 6.51 % using the swap adjusted interest rate. (c) Weighted average rates as of June 30, 2024. Interest on Borrowings Interest Expense Components of interest expense included the following: Quarter ended June 30, 2024 2023 (Unaudited) (In thousands) Interest expense $ 71,147 $ 64,400 Capitalized interest ( 4,013 ) ( 4,063 ) Amortization of transaction costs 1,509 1,411 Interest expense resulting from cash flow hedges ( 1,425 ) ( 1,150 ) Total interest expense $ 67,218 $ 60,598 Interest paid in cash was $ 62.8 million and $ 55.4 million for the first quarter of fiscal 2025 and 2024 , respectively. Interest paid (received) in cash on derivative contracts was ($ 1.5 ) million and ($1 .0 ) million for the first quarter of fiscal 2025 and 2024, respectively. Interest Rates Interest rates and Company borrowings related to our revolving credit facilities were as follows: Revolving Credit Activity Quarter ended June 30, 2024 2023 (Unaudited) (In thousands, except interest rates) Weighted average interest rate during the quarter 6.63 % 6.26 % Interest rate at the end of the quarter 6.61 % 6.41 % Maximum amount outstanding during the quarter $ 735,000 $ 715,000 Average amount outstanding during the quarter $ 665,861 $ 660,330 Facility fees $ 263 $ 265

Derivatives

Derivatives	3 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	. Derivatives Cash Flow Hedges We manage exposure to changes in market interest rates. We use interest rate swap agreements and forward swaps to reduce our exposure to changes in interest rates. Our use of derivative instruments is limited to highly effective interest rate swaps to hedge the risk of changes in cash flows (future interest payments) attributable to changes in secured overnight financing rate ("SOFR") swap rates with the designated benchmark interest rate being hedged on certain of our SOFR indexed variable rate debt. The interest rate swaps effectively fix our interest payments on certain SOFR indexed variable rate debt through July 2032. We monitor our positions and the credit ratings of our counterparties and do not currently anticipate non-performance by the counterparties. Interest rate swap agreements are not entered into for trading purposes. These fair values are determined using pricing valuation models which include broker quotes for which significant inputs are observable. They include adjustments for counterparty credit quality and other deal-specific factors, where appropriate and are classified as Level 2 in the fair value hierarchy. The derivative fair values reflected in prepaid expense in the consolidated balance sheet were as follows: Derivatives Fair Values as of June 30, 2024 March 31, 2024 (Unaudited) (In thousands) Interest rate swaps designated as cash flow hedges: Assets $ 8,386 $ 8,392 Notional amount $ 295,747 $ 297,867 (Gains) or losses recognized in income on interest rate derivatives are recorded as interest expense in the consolidated statements of operations. During the first three months of fiscal 2025 and 2024 , we recognized a (decrease)/increase in the fair value of our cash flow hedges of ($ 1.9 ) million and $ 3.8 million, respectively, net of taxes. During the first three months of fiscal 2025 and 2024 , we reclassified ($ 1.1 ) million and ($ 0.9 ) million, respectively, from accumulated other comprehensive income (loss) (“AOCI”) to interest expense, net of tax. As of June 30, 2024 , we expect to reclassify $ 5.5 million of net gains on interest rate contracts from AOCI to earnings as interest expense over the next 12 months. Economic Hedges We use derivatives to economically hedge our equity market exposure to indexed annuity products sold by our Life Insurance company. These contracts earn a return for the contract holder based on the change in the value of the S&P 500 index between annual index point dates. We buy and sell listed equity and index call options and call option spreads. The credit risk is with the party in which the options are written. The net option price is paid up front and there are no additional cash requirements or additional contingent liabilities. These contracts are held at fair value on our balance sheet. These derivative instruments are included in Investments, other on the consolidated balance sheets. The fair values of these call options are determined based on quoted market prices from the relevant exchange and are classified as Level 1 in the fair value hierarchy. Net losses recognized in net investment and interest income for the first three months of June 30, 2024 and 2023 were $ 1.4 million and $ 1.6 million, respectively. Derivatives Fair Values as of June 30, 2024 March 31, 2024 (Unaudited) (In thousands) Equity market contracts as economic hedging instruments: Assets $ 8,804 $ 10,538 Notional amount $ 466,445 $ 526,449 Although the call options are employed to be effective hedges against our policyholder obligations from an economic standpoint, they do not meet the requirements for hedge accounting under GAAP. Accordingly, the changes in fair value of the call options are recognized each reporting date as a component of net investment and interest income. The change in fair value of the call options include the gains or losses recognized at the expiration of the option term and the changes in fair value for open contracts.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Jun. 30, 2024
Disclosure Text Block [Abstract]
Accumulated Other Comprehensive Loss	. Accumulated Other Comprehensive Loss The following tables provide the details and changes in AOCI: Foreign Unrealized Fair Postretirement Accumulated (Unaudited) (In thousands) Balance as of March 31, 2024 $ ( 53,707 ) $ ( 176,883 ) $ 6,330 $ 1,044 $ ( 223,216 ) Foreign currency translation ( 204 ) — — — ( 204 ) Unrealized net loss on investments and impact of LFBP discount rates — ( 5,413 ) — — ( 5,413 ) Change in fair value of cash flow hedges — — ( 1,905 ) — ( 1,905 ) Amounts reclassified into earnings on hedging activities — — ( 1,075 ) — ( 1,075 ) Other comprehensive income (loss) ( 204 ) ( 5,413 ) ( 2,980 ) — ( 8,597 ) Balance as of June 30, 2024 $ ( 53,911 ) $ ( 182,296 ) $ 3,350 $ 1,044 $ ( 231,813 ) Foreign Unrealized Fair Postretirement Accumulated (Unaudited) (In thousands) Balance as of March 31, 2023 $ ( 56,539 ) $ ( 232,740 ) $ 4,007 $ ( 351 ) $ ( 285,623 ) Foreign currency translation 469 — — — 469 Unrealized net gain on investments and impact of LFBP discount rates — 20,344 — — 20,344 Change in fair value of cash flow hedges — — 3,842 — 3,842 Amounts reclassified into earnings on hedging activities — — ( 868 ) — ( 868 ) Other comprehensive income (loss) 469 20,344 2,974 — 23,787 Balance as of June 30, 2023 $ ( 56,070 ) $ ( 212,396 ) $ 6,981 $ ( 351 ) $ ( 261,836 ) (a) Liability for future policy benefits

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Jun. 30, 2024
Stockholders' Equity [Abstract]
7. Stockholders' Equity	. Dividends The following table lists the dividends that have been declared and issued for the first three months of fiscal years 2025 and 2024: Non-Voting Common Stock Dividends Declared Date Per Share Amount Record Date Dividend Date June 5, 2024 $ 0.05 June 17, 2024 June 28, 2024 June 7, 2023 0.04 June 20, 2023 June 30, 2023 As of June 30, 2024 , no awards had been issued under the 2016 AMERCO Stock Option Plan.

Leases

Leases	3 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Leases	. Leases The following tables show the components of our right-of-use (“ROU") assets, net: As of June 30, 2024 Finance Operating Total (Unaudited) (In thousands) Buildings and improvements $ — $ 81,571 $ 81,571 Furniture and equipment 61 — 61 Rental trailers and other rental equipment 104,092 — 104,092 Rental trucks 585,415 — 585,415 Right-of-use assets, gross 689,568 81,571 771,139 Less: Accumulated depreciation ( 423,824 ) ( 28,316 ) ( 452,140 ) Right-of-use assets, net $ 265,744 $ 53,255 $ 318,999 As of March 31, 2024 Finance Operating Total (Unaudited) (In thousands) Buildings and improvements $ — $ 79,317 $ 79,317 Furniture and equipment 61 — 61 Rental trailers and other rental equipment 114,607 — 114,607 Rental trucks 607,521 — 607,521 Right-of-use assets, gross 722,189 79,317 801,506 Less: Accumulated depreciation ( 432,884 ) ( 25,605 ) ( 458,489 ) Right-of-use assets, net $ 289,305 $ 53,712 $ 343,017 As of June 30, 2024 and March 31, 2024 , we had finance lease liabilities for the ROU assets, net of $ 98.4 million and $ 117.6 million, respectively, included in Notes, loans and finance leases payable, net in the consolidated balance sheets. Finance leases June 30, March 31, 2024 2024 (Unaudited) Weighted average remaining lease term (years) 1 1 Weighted average discount rate 4.2 % 4.1 % Operating leases June 30, March 31, 2024 2024 (Unaudited) Weighted average remaining lease term (years) 22 21.9 Weighted average discount rate 4.6 % 4.6 % For the three months ended June 30, 2024 and 2023 , cash paid for leases included in our operating cash flow activities were $ 5.5 million and $ 8.9 million, respectively, and our financing cash flow activities were $ 19.3 million and $ 34.2 million, respectively. Non-cash activities of ROU assets in exchange for lease liabilities were $ 2.3 million and $ 5.0 million for the first three months of fiscal 2025 and 2024, respectively. The components of lease costs, including leases of less than 12 months, were as follows: Three months ended June 30, 2024 June 30, 2023 (Unaudited) (In thousands) Operating lease costs $ 5,605 $ 8,102 Finance lease cost: Amortization of right-of-use assets $ 9,833 $ 16,754 Interest on lease liabilities 1,207 2,146 Total finance lease cost $ 11,040 $ 18,900 The short-term lease costs for the first three months of fiscal 2025 and 2024 were not material. Maturities of lease liabilities were as follows: Finance leases Operating leases (Unaudited) Year ending March 31, (In thousands) 2025 (9 months) $ 67,577 $ 9,850 2026 34,473 10,029 2027 — 7,941 2028 — 6,792 2029 — 5,203 Thereafter — 61,754 Total lease payments 102,050 101,569 Less: imputed interest ( 3,668 ) ( 47,084 ) Present value of lease liabilities $ 98,382 $ 54,485

Contingencies

Contingencies	3 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Contingencies	. Contingencies Cybersecurity Incident On September 9, 2022, we announced that the Company was made aware of a data security incident involving U-Haul's information technology network. U-Haul detected a compromise of two unique passwords used to access U-Haul customers' information. U-Haul took immediate steps to contain the incident and promptly enhanced its security measures to prevent any further unauthorized access. U-Haul retained cybersecurity experts and incident response counsel to investigate the incident and implement additional security safeguards. The investigation determined that between November 5, 2021 and April 8, 2022, the threat actor accessed customer contracts containing customers’ names, dates of birth, and driver’s license or state identification numbers. None of U-Haul’s financial, payment processing or email systems were involved. U-Haul has notified impacted customers and relevant governmental authorities. Several class action lawsuits related to the incident have been filed against U-Haul. The lawsuits have been consolidated into one action in the U.S. District Court for the District of Arizona (the "Court"). On October 27, 2023, the Court dismissed with prejudice all claims except those brought under the California Consumer Privacy Act. The remaining claims will be vigorously defended by the Company; however, the outcome of such lawsuits cannot be predicted or guaranteed with any certainty. The parties have reached a settlement agreement, which remains subject to approval by the Court. Environmental Compliance with environmental requirements of federal, state, provincial and local governments may affect Real Estate’s business operations. Among other things, these requirements regulate the discharge of materials into the air, land and water and govern the use and disposal of hazardous substances. Real Estate is aware of issues regarding hazardous substances on some of its properties. Real Estate regularly makes capital and operating expenditures to stay in compliance with environmental laws and has put in place a remedial plan at each site where it believes such a plan is necessary. Based upon the information currently available to Real Estate, compliance with the environmental laws and its share of the costs of investigation and cleanup of known hazardous waste sites are not expected to result in a material adverse effect on the Company’s financial position, results of operations or cash flows. Other We are named as a defendant in various other litigation and claims arising out of the normal course of business. In our opinion, none of these other matters will have a material effect on our financial position and results of operations.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions	11. Related Party Transactions U-Haul Holding Company has engaged in related party transactions and has continuing related party interests with certain major stockholders, directors and officers of the consolidated group as disclosed below. SAC Holding Corporation and SAC Holding II Corporation (collectively, “SAC Holdings”) were established in order to acquire and develop self-storage properties. These properties are being managed by us pursuant to management agreements. SAC Holdings, Four SAC Self-Storage Corporation, Five SAC Self-Storage Corporation, Galaxy Investments, L.P. and 2015 SAC-Self-Storage, LLC are substantially controlled by Blackwater Investments, Inc. (“Blackwater”). Blackwater is wholly owned by Willow Grove Holdings LP, which is owned by Mark V. Shoen (a significant stockholder), and various trusts associated with Edward J. Shoen (our Chairman of the Board, President and a significant stockholder) and Mark V. Shoen. Related Party Revenue Quarter ended June 30, 2024 2023 (Unaudited) (In thousands) U-Haul management fee revenue from Blackwater $ 7,715 $ 7,696 U-Haul management fee revenue from Mercury 1,780 1,481 $ 9,495 $ 9,177 We currently manage the self-storage properties owned or leased by Blackwater and Mercury Partners, L.P. (“Mercury”), pursuant to a standard form of management agreement, under which we receive a management fee of between 4 % and 10 % of the gross receipts plus reimbursement for certain expenses. We received management fees, exclusive of reimbursed expenses, of $ 9.3 million and $ 8.2 million from the above-mentioned entities during the first three months of fiscal 2025 and 2024, respectively. This management fee is consistent with the fee received for other properties we previously managed for third parties. Mark V. Shoen controls the general partner of Mercury. The limited partner interests of Mercury are owned indirectly by James P. Shoen and various trusts benefiting Edward J. Shoen and James P. Shoen or their descendants. During the fourth quarter of fiscal 2024, Mercury exercised its option to purchase 78 U-Haul branded self-storage locations from W.P. Carey. The self-storage component of these properties was previously leased by Mercury from W.P. Carey and managed by U-Haul, while the non-self-storage portions of these properties were leased by U-Haul. Post acquisition, Mercury now owns all of these properties and U-Haul acts as property manager. There were several changes recognized in the first quarter of fiscal 2025 and will continue to be going forward as a result of this transaction. Retail sales revenues along with the associated cost of goods sold previously recognized by U-Haul will now be with Mercury. U-Move and U-Box related revenue will remain unchanged; however, Mercury will earn standard commissions for the transactions at these locations. Management fees earned by U-Haul will increase as a result of the increased revenues attributable to Mercury and certain operating expenses at these locations that were formerly the responsibility of U-Haul will now be reimbursed by Mercury. The net effect of all of these changes is not expected to result in a material change to operating earnings. Related Party Costs and Expenses Quarter ended June 30, 2024 2023 (Unaudited) (In thousands) U-Haul lease expenses to Blackwater $ 604 $ 604 U-Haul printing expenses to Blackwater 1,103 349 U-Haul commission expenses to Blackwater 22,695 22,703 U-Haul lease expenses to Mercury 38 — U-Haul commission expenses to Mercury 6,128 — $ 30,568 $ 23,656 We lease space for marketing company offices, vehicle repair shops and hitch installation centers from subsidiaries of Blackwater and Mercury. The terms of the leases are similar to the terms of leases for other properties owned by unrelated parties that are leased to us. SAC Holdings provides ancillary and specialty printing services to us. The financial and other terms of the transactions are substantially identical to the terms of additional specialty printing vendors. As of June 30, 2024, subsidiaries of Blackwater and Mercury acted as independent dealers. The financial and other terms of the dealership contracts are substantially identical to the terms of those with our other independent dealers whereby commissions are paid by us based upon equipment rental revenues. These agreements with subsidiaries of Blackwater and Mercury, excluding Dealer Agreements, provided revenues of $ 9.5 million and $7 .7 million, expenses of $ 0.6 million and $ 0.6 million and we received cash flows of $ 8.6 million and $ 6.6 million, respectively, during the first three months of fiscal 2025 and 2024 . Revenues were $ 138.9 million and $ 103.5 million and commission expenses were $ 28.8 million and $ 22.7 million, respectively, related to the Dealer Agreements, during the first three months of fiscal 2025 and 2024. We determined that we do not have a variable interest pursuant to the variable interest entity model under ASC 810, Consolidation in the holding entities of Blackwater and Mercury. Related Party Assets June 30, March 31, 2024 2024 (Unaudited) (In thousands) U-Haul receivable from Blackwater $ 33,643 $ 31,950 U-Haul receivable from Mercury 39,105 24,536 Other (a) ( 5,494 ) 1,448 $ 67,254 $ 57,934 (a) Timing differences for intercompany receivables and payable with insurance subsidiaries resulting from the three-month difference in reporting periods.

Consolidating Financial Informa

Consolidating Financial Information by Industry Segment	3 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Consolidating Financial Information by Industry Segment	12. Reportable Segment Information: U-Haul Holding Company’s three reportable segments are • Moving and Storage, comprised of U-Haul Holding Company, U-Haul, and Real Estate and the subsidiaries of U-Haul and Real Estate, • Property and Casualty Insurance, comprised of Repwest and its subsidiaries and ARCOA, and • Life Insurance, comprised of Oxford and its subsidiaries. We track revenues separately, but do not report any separate measure of the profitability for rental vehicles, rentals of self-storage spaces and sales of products. The information includes elimination entries necessary to consolidate U-Haul Holding Company, the parent, with its subsidiaries. Depreciation, net of gains on disposals, and total expenditures for property and equipment are only recorded within the Moving and Storage segment. Revenues and earnings from operations before equity in earnings of subsidiaries by operating segment for the quarter ended June 30, 2024 were as follows: Moving & Property & Life Eliminations U-Haul Holding (Unaudited) (In thousands) Total revenues $ 1,469,161 $ 28,178 $ 53,749 $ ( 2,598 ) $ 1,548,490 Total earnings (losses) from operations before equity in earnings of subsidiaries $ 295,058 $ 11,483 $ ( 47 ) $ ( 252 ) $ 306,242 Revenues and earnings from operations before equity in earnings of subsidiaries by operating segment for the quarter ended June 30, 2023 were as follows: Moving & Property & Life Eliminations U-Haul Holding (Unaudited) (In thousands) Total revenues $ 1,459,513 $ 27,839 $ 55,681 $ ( 2,725 ) $ 1,540,308 Total earnings from operations before equity in earnings of subsidiaries $ 386,691 $ 11,982 $ 1,356 $ ( 371 ) $ 399,658 Total assets by operating segment as of June 30, 2024 were as follows: Moving & Property & Life Eliminations U-Haul Holding (Unaudited) (In thousands) Total assets $ 16,447,193 $ 502,814 $ 2,957,781 $ ( 602,361 ) $ 19,305,427 Total assets by operating segment as of March 31, 2024 were as follows: Moving & Property & Life Eliminations U-Haul Holding (In thousands) Total assets $ 16,149,748 $ 501,566 $ 2,990,903 $ ( 583,459 ) $ 19,058,758

Geographic Area Data

Geographic Area Data	3 Months Ended
	Jun. 30, 2024
Segments, Geographical Areas [Abstract]
Geographic Area Data	13. Geographic Area Data United States Canada Consolidated (Unaudited) (All amounts are in thousands of U.S. $'s) Quarter ended June 30, 2024 Total revenues $ 1,467,693 $ 80,797 $ 1,548,490 Depreciation and amortization, net of gains on disposals 219,412 4,883 224,295 Interest expense 66,749 469 67,218 Pretax earnings 247,318 9,074 256,392 Income tax expense 58,377 2,598 60,975 Identifiable assets 18,454,865 850,562 19,305,427 Quarter ended June 30, 2023 Total revenues $ 1,461,284 $ 79,024 $ 1,540,308 Depreciation and amortization, net of gains (losses) on disposals 148,313 ( 1,433 ) 146,880 Interest expense 59,946 652 60,598 Pretax earnings 327,072 11,623 338,695 Income tax expense 78,595 3,262 81,857 Identifiable assets 17,892,739 721,295 18,614,034

Employee Benefit Plans

Employee Benefit Plans	3 Months Ended
	Jun. 30, 2024
Compensation and Retirement Disclosure [Abstract]
Employee Benefit Plans	14. Employee Benefit Plans The components of the net periodic benefit costs with respect to postretirement benefits were as follows: Quarter ended June 30, 2024 2023 (Unaudited) (In thousands) Service cost for benefits earned during the period $ 245 $ 297 Other components of net periodic benefit costs: Interest cost on accumulated postretirement benefit 375 367 Other components ( 3 ) ( 2 ) Total other components of net periodic benefit costs 372 365 Net periodic postretirement benefit cost $ 617 $ 662

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	15. Fair Value Measurements Certain assets and liabilities are recorded at fair value on the consolidated balance sheets and are measured and classified based upon a three-tiered approach to valuation. Financial assets and liabilities are recorded at fair value and are classified and disclosed in one of the following three categories: Level 1 – Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2 – Quoted prices for identical or similar financial instruments in markets that are not considered to be active, or similar financial instruments for which all significant inputs are observable, either directly or indirectly, or inputs other than quoted prices that are observable, or inputs that are derived principally from or corroborated by observable market data through correlation or other means; and Level 3 – Prices or valuations that require inputs that are both significant to the fair value measurement and are unobservable. These reflect management’s assumptions about the assumptions a market participant would use in pricing the asset or liability. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Fair values of investments available-for-sale are based on quoted market prices, dealer quotes or discounted cash flows. Fair values of derivatives are based on using pricing valuation models which include broker quotes. The following tables represent the financial assets and liabilities on the consolidated balance sheets as of June 30, 2024 and March 31, 2024, that are measured at fair value on a recurring basis and the level within the fair value hierarchy. As of June 30, 2024 Total Level 1 Level 2 Level 3 (Unaudited) Assets (In thousands) Fixed maturities - available for sale $ 2,395,890 $ — $ 2,395,832 $ 58 Preferred stock 22,067 22,067 — — Common stock 51,999 51,999 — — Derivatives 17,190 8,804 8,386 — Total $ 2,487,146 $ 82,870 $ 2,404,218 $ 58 Liabilities Embedded derivatives $ 9,880 $ — $ — $ 9,880 Liabilities from investment contracts 2,295,851 — — 2,295,851 Market risk benefits 13,447 — — 13,447 Total $ 2,319,178 $ — $ — $ 2,319,178 As of March 31, 2024 Total Level 1 Level 2 Level 3 (In thousands) Assets Fixed maturities - available for sale $ 2,442,504 $ — $ 2,442,446 $ 58 Preferred stock 21,260 21,260 — — Common stock 45,014 45,014 — — Derivatives 18,930 10,538 8,392 — Total $ 2,527,708 $ 76,812 $ 2,450,838 $ 58 Liabilities Embedded derivatives $ 9,300 $ — $ — $ 9,300 Liabilities from investment contracts 2,290,096 — — 2,290,096 Market risk benefits 13,400 — — 13,400 Total $ 2,312,796 $ — $ — $ 2,312,796 We estimate the fair value for financial instruments not carried at fair value using the same methods and assumptions as those we carry at fair value. The financial instruments presented below are reported at carrying value on the consolidated balance sheets. Cash equivalents were $ 870.5 million and $ 1,173.6 million as of June 30, 2024 and March 31, 2024, respectively. Fair values of cash equivalents approximate carrying value due to the short period of time to maturity. Fair values of mortgage loans and notes on real estate are based on quoted market prices, dealer quotes or discounted cash flows. Fair values of trade receivables approximate their recorded value. Our financial instruments that are exposed to concentrations of credit risk consist primarily of temporary cash investments, trade receivables, and notes receivable. Limited credit risk exists on trade receivables due to the diversity of our customer base and their dispersion across broad geographic markets. We place our temporary cash investments with financial institutions and limit the amount of credit exposure to any one financial institution. We have mortgage loans, which potentially expose us to credit risk. The portfolio of loans is principally collateralized by self-storage facilities and commercial properties. We have not experienced any material losses related to the loans from individual or groups of loans in any particular industry or geographic area. The estimated fair values were determined using the discounted cash flow method and using interest rates currently offered for similar loans to borrowers with similar credit ratings. Other investments are substantially current or bear reasonable interest rates. As a result, the carrying values of these financial instruments approximate fair value. The following represents our financial instruments not carried at fair value on the consolidated balance sheets and corresponding placement in the fair value hierarchy. Fair Value Hierarchy Carrying Total As of June 30, 2024 Value Level 1 Level 2 Level 3 Fair Value (Unaudited) Assets (In thousands) Trade receivables, net $ 215,735 $ — $ — $ 215,735 $ 215,735 Mortgage loans, net 617,230 — — 589,880 589,880 Other investments 12,389 — — 12,389 12,389 Total $ 845,354 $ — $ — $ 818,004 $ 818,004 Liabilities Notes, loans and finance leases payable $ 6,311,676 $ — $ 5,888,119 $ — $ 5,888,119 Total $ 6,311,676 $ — $ 5,888,119 $ — $ 5,888,119 Fair Value Hierarchy Carrying Total As of March 31, 2024 Value Level 1 Level 2 Level 3 Fair Value (In thousands) Assets Trade receivables, net $ 177,602 $ — $ — $ 177,602 $ 177,602 Mortgage loans, net 604,481 — — 579,767 579,767 Other investments 18,917 — — 18,917 18,917 Total $ 801,000 $ — $ — $ 776,286 $ 776,286 Liabilities Notes, loans and finance leases payable 6,304,038 — 5,850,346 — 5,850,346 Total $ 6,304,038 $ — $ 5,850,346 $ — $ 5,850,346

Revenue Recognition

Revenue Recognition	3 Months Ended
	Jun. 30, 2024
Revenue From Contract With Customer [Abstract]
Revenue Recognition	16. Revenue Recognition Revenue Recognized in Accordance with Topic 606 ASC Topic 606, Revenue from Contracts with Customers (Topic 606) , outlines a five-step model for entities to use in accounting for revenue arising from contracts with customers. The standard applies to all contracts with customers except for leases, insurance contracts, financial instruments, certain nonmonetary exchanges and certain guarantees. The standard also requires disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. We enter into contracts that may include various combinations of products and services, which are generally capable of being distinct and accounted for as separate performance obligations. Revenue is recognized net of amounts collected from customers for taxes, such as sales tax, and remitted to the applicable taxing authorities. We account for a contract under Topic 606 when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. For contracts scoped into this standard, revenue is recognized when (or as) the performance obligations are satisfied by means of transferring goods or services to the customer as applicable to each revenue stream as discussed below. There were no material contract assets as of June 30, 2024 and March 31, 2024. Sales of self-moving and self-storage related products are recognized at the time that title passes and the customer accepts delivery. The performance obligations identified for this portfolio of contracts include moving and storage product sales, installation services and/or propane sales. Each of these performance obligations has an observable stand-alone selling price. We concluded that the performance obligations identified are satisfied at a point in time. The basis for this conclusion is that the customer does not receive the product/propane or benefit from the installation services until the related performance obligation is satisfied. These products/services being provided have an alternative use as they are not customized and can be sold/provided to any customer. In addition, we only have the right to receive payment once the products have been transferred to the customer or the installation services have been completed. Although product sales have a right of return policy, our estimated obligation for future product returns is not material to the financial statements at this time. Property management fees are recognized over the period that agreed-upon services are provided. The performance obligation for this portfolio of contracts is property management services, which represents a series of distinct days of service, each of which is comprised of activities that may vary from day to day. However, those tasks are activities to fulfill the property management services and are not separate promises in the contract. We determined that each increment of the promised service is distinct. This is because the customer can benefit from each increment of service on its own and each increment of service is separately identifiable because no day of service significantly modifies or customizes another and no day of service significantly affects either the entity’s ability to fulfill another day of service or the benefit to the customer of another day of service. As such, we concluded that the performance obligation is satisfied over time. Additionally, in certain contracts the Company has the ability to earn an incentive fee based on operational results. We measure and recognize the progress toward completion of the performance obligation on a quarterly basis using the most likely amount method to determine an accrual for the incentive fee portion of the compensation received in exchange for the property management service. The variable consideration recognized is subject to constraints due to a range of possible consideration amounts based on actual operational results. The amount accrued in the first quarter of fiscal 2025 did not have a material effect on our financial statements. Other revenue consists of numerous services or rentals, of which U-Box contracts and service fees from Moving Help are the main components. The performance obligations identified for U-Box contracts are fees for rental, storage and shipping of U-Box containers to a specified location, each of which are distinct. A contract may be partially within the scope of Topic 606 and partially within the scope of other topics. The rental and storage obligations in U-Box contracts meet the definition of a lease in Topic 842, while the shipping obligation represents a contract with a customer accounted for under Topic 606. Therefore, we allocate the total transaction price between the performance obligations of storage fees and rental fees and the shipping fees on a standalone selling price basis. U-Box shipping fees are collected once the shipment is in transit. Shipping fees in U-Box contracts are set at the initiation of the contract based on the shipping origin and destination, and the performance obligation is satisfied over time. U-Box shipping contracts span over a relatively short period of time, and the majority of these contracts begin and end within the same fiscal year. Moving Help® services fees are recognized in accordance with Topic 606. Moving Help® services are generated as we provide a neutral venue for the connection between the service provider and the customer for agreed upon services. We do not control the specified services provided by the service provider before that service is transferred to the customer. Operating lease income recognized under Topic 842 within other revenue was $ 24.2 million and $ 24.1 million for the quarters ended June 30, 2024 and 2023, respectively. Deferred income primarily relates to payments received from customers prior to satisfaction of our performance obligations. Of the amounts recorded as unearned revenue as of March 31, 2024, $ 47.0 million was recognized as revenue for the quarter ended June 30, 2024. Revenue Recognized in Accordance with Topic 842 The Company’s self-moving rental revenues meet the definition of a lease pursuant to the guidance in ASC Topic 842, Leases because those substitution rights do not provide an economic benefit to the Company that would exceed the cost of exercising the right. Please see Note 9, Leases, of the Notes to Consolidated Financial Statements. Self-moving equipment rentals are recognized over the contract period that trucks and moving equipment are rented. We offer two types of self-moving rental contracts, one-way rentals and in-town rentals, which have varying payment terms. Customer payment is received at the initiation of the contract for one-way rentals, which covers an allowable limit for equipment usage. An estimated fee in the form of a deposit is received at the initiation of the contract for in-town rentals, and final payment is received upon the return of the equipment based on actual fees incurred. Self-moving rental contracts span a relatively short period of time, and the majority of these contracts began and ended within the same fiscal year. Self-storage revenues are recognized as earned over the contract period based upon the number of paid storage contract days. We lease portions of our operating properties to tenants under agreements that are classified as operating leases. We recognize the total minimum lease payments provided for under the leases on a straight-line basis over the lease term. Generally, under the terms of our leases, the majority of our rental expenses, including common area maintenance, real estate taxes and insurance, are recovered from our customers. The following table summarizes the minimum lease payments due from our customers and operating property tenants on leases for the next five years and thereafter: Years Ending June 30, 2025 2026 2027 2028 2029 Thereafter (Unaudited) (In thousands) Self-moving equipment rental revenues $ 8,095 $ — $ — $ — $ — $ — Property lease revenues 15,462 15,356 12,142 8,772 6,150 27,261 Total $ 23,557 $ 15,356 $ 12,142 $ 8,772 $ 6,150 $ 27,261 The amounts above do not reflect future rental revenue from the renewal or replacement of existing leases. Revenue Recognized in Accordance with Other Topics Traditional life and Medicare supplement insurance premiums are recognized as revenue over the premium-paying periods of the contracts when due from the policyholders. For products where premiums are due over a significantly shorter duration than the period over which benefits are provided, such as our single premium whole life product, premiums are recognized when received and excess profits are deferred and recognized in relation to the insurance in-force. Property and casualty insurance premiums are recognized as revenue over the policy periods. Interest and investment income are recognized as earned. Net investment and interest income has multiple components. Interest income from bonds and mortgage notes are recognized when earned. Dividends on common and preferred stocks are recognized on the ex-dividend dates. Realized gains and losses on the sale or exchange of investments are recognized at the trade date. In the following tables, revenue is disaggregated by timing of revenue recognition: Quarter ended June 30, 2024 2023 (Unaudited) (In thousands) Revenues recognized over time: $ 100,175 $ 91,315 Revenues recognized at a point in time: 113,725 117,593 Total revenues recognized under ASC 606 213,900 208,908 Revenues recognized under ASC 842 1,254,317 1,222,316 Insurance premium revenues recognized under ASC 944 43,148 44,492 Net investment and interest income recognized under other topics 37,125 64,592 Total revenues $ 1,548,490 $ 1,540,308 In the above table, the revenues recognized over time include property management fees, the shipping fees associated with U-Box container rentals and a portion of other revenues. Revenues recognized at a point in time include self-moving and self-storage products and service sales and a portion of other revenues. We recognized liabilities resulting from contracts with customers for self-moving equipment rentals, self-storage revenues, U-Box revenues and tenant revenues, in which the length of the contract goes beyond the reported period end, although rental periods of the equipment, storage and U-Box contract are generally short-term in nature. The timing of revenue recognition results in liabilities that are reflected in deferred income on the balance sheet.

Allowance For Credit Losses

Allowance For Credit Losses	3 Months Ended
	Jun. 30, 2024
Allowance For Credit Loss [Abstract]
Allowance for Credit Losses	17. Allowance for Credit Losses Trade Receivables Moving and Storage has two ( 2 ) primary components of trade receivables, receivables from corporate customers and credit card receivables from customer sales and rental of equipment. For credit card receivables, the Company uses a trailing 13-month average historical chargeback percentage of total credit card receivables to estimate a credit loss reserve. The Company rents equipment to corporate customers for which payment terms are 30 days. The Company performs ongoing credit evaluations of its customers and assesses each customer’s credit worthiness. In addition, the Company monitors collections and payments from its customers and maintains an allowance based upon applying an expected credit loss rate to receivables based on the historical loss rate from similar high-risk customers adjusted for current conditions, including any specific customer collection issues identified, and forecasts of economic conditions. Delinquent account balances are written off after management has determined that the likelihood of collection is remote. We believe that the historical loss information it has compiled is a reasonable base on which to determine expected credit losses for trade receivables because the composition of trade receivables as of that date is consistent with that used in developing the historical credit loss percentages (i.e., the similar risk characteristics of its customers and its lending practices have not changed significantly over time). To adjust the historical loss rates to reflect the effects of these differences in current conditions and forecasted changes, management assigns a rating to each customer which varies depending on the assessment of risk. Management estimated the loss rate at approximately 5 % as of June 30, 2024 and March 31, 2024, respectively. Management developed this estimate based on its knowledge of past experience for which there were similar improvements in the economy. As a result, management applied the applicable credit loss rates to determine the expected credit loss estimate for each aging category. Accordingly, the allowance for expected credit losses as of June 30, 2024 and March 31, 2024 was $ 8.3 million and $ 6.2 million, respectively. Accrued Interest Receivable Accrued interest receivables on available for sale securities totaled $ 30.4 million and $ 29.3 million as of June 30, 2024 and March 31, 2024, respectively, and are excluded from the estimate of credit losses. We have elected not to measure an allowance on accrued interest receivables as our practice is to write off the uncollectible balance that is 90 days or more past due. Furthermore, we have elected to write off accrued interest receivables by reversing interest income. Mortgage Loans, Net Loans that management has the intent and ability to hold for the foreseeable future, or until maturity or payoff, are reported at amortized cost. Modeling for the Company’s mortgage loans is based on inputs most highly correlated to defaults, including loan-to-value, occupancy, and payment history. Historical credit loss experience provides additional support for the estimation of expected credit losses. In assessing the credit losses, the portfolio is reviewed on a collective basis, using loan-specific cash flows to determine the fair value of the collateral in the event of default. Adjustments to this analysis are made to assess loans with a loan-to-value of 65% or greater. These loans are evaluated on an individual basis and loan specific risk characteristics such as occupancy levels, expense, income growth and other relevant available information from internal and external sources relating to past events, current conditions, and reasonable and supportable forecasts. When management determines that credit losses are expected to occur, an allowance for expected credit losses based on the fair value of the collateral is recorded. There were no delinquent commercial mortgage loans as of June 30, 2024 and March 31, 2024. As of June 30, 2024 and March 31, 2024, the Company had no commercial mortgage loans in non-accrual status. The Company had no unfunded commitment balance to commercial loan borrowers as of June 30, 2024. Reinsurance Recoverables Reinsurance recoverables on paid and unpaid benefits was less than 1 % of the total assets as of June 30, 2023, which is immaterial based on historical loss experience and high credit rating of the reinsurers. Premium Receivables Premium receivables were $ 1.1 million and $1 .1 million as of June 30, 2024 and March 31, 2024, respectively, in which the credit loss allowance is immaterial based on our ability to cancel the policy if the policyholder does not pay premiums. The following details the changes in the Company’s reserve allowance for credit losses for trade receivables, fixed maturities and investments, other: Allowance for Credit Losses Trade Receivables Investments, Fixed Maturities Investments, other Total (Unaudited) (in thousands) Balance as of March 31, 2023 $ 3,789 $ 2,101 $ 517 $ 6,407 Provision for (reversal of) credit losses 2,447 ( 1,049 ) 300 1,698 Write-offs against allowance — — — — Recoveries — — — — Balance as of March 31, 2024 $ 6,236 $ 1,052 $ 817 $ 8,105 Provision for (reversal of) credit losses 2,047 1,943 ( 369 ) 3,621 Write-offs against allowance — — — — Recoveries — — — — Balance as of June 30, 2024 $ 8,283 $ 2,995 $ 448 $ 11,726

Income Taxes

Income Taxes	3 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Tax	18. Income Tax Tax regulations may require items to be included in our tax return at different times than when those items are reflected in our financial statements. Some of the differences are permanent, such as expenses that are not deductible on our tax return, and some are temporary differences, such as the timing of depreciation expense. Temporary differences create deferred tax assets and liabilities. Deferred tax assets generally represent items that will be used as a tax deduction or credit in our tax return in future years, which we have already recorded in our financial statements. Deferred tax liabilities generally represent deductions taken on our tax return that have not yet been recognized as an expense in our financial statements. We establish valuation allowances for our deferred tax assets if the amount of expected future taxable income is more likely than not to allow for the use of the deduction credit. Our effective tax rates for the three months ended June 30, 2024 and 2023 was a provision of 23.8 % and 24.2 %, respectively. Such rates differed from the federal statutory rate of 21.0 % primarily due to state and local income taxes for both periods. Income taxes, net paid in cash was $ 3.6 million and $ 3.8 million for the three months ended June 30, 2024 and 2023, respectively. The Organisation for Economic Co-Operation and Development ("OECD") released a framework, referred to as Pillar Two, to implement a global minimum corporate tax rate of 15% on certain multinational enterprises. Certain countries have enacted legislation to adopt the Pillar Two framework while several countries are considering or still announcing changes to their tax laws to implement the minimum tax directive. While we do not currently estimate Pillar Two to have a material impact on our effective tax rate, our analysis will continue as the OECD continues to release additional guidance and countries implement legislation.

Deferred Policy Acquisition Cos

Deferred Policy Acquisition Costs, Net	3 Months Ended
	Jun. 30, 2024
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Deferred Policy Acquisition Costs, Net	. Deferred Policy Acquisition Costs, Net The following tables present a roll-forward of deferred policy acquisition costs related to long-duration contracts for the three-month periods ended June 30, 2024 and 2023. Quarter ended June 30, 2024 Deferred Annuities Life Insurance Health Insurance Total (Unaudited) (In thousands) Balance, beginning of year $ 54,747 $ 62,426 $ 4,051 $ 121,224 Capitalization 2,318 876 34 3,228 Amortization expense ( 2,187 ) ( 2,200 ) ( 259 ) ( 4,646 ) Other, including Experience Adjustment — — — — Balance, end of period $ 54,878 $ 61,102 $ 3,826 $ 119,806 Quarter ended June 30, 2023 Deferred Annuities Life Insurance Health Insurance Total (Unaudited) (In thousands) Balance, beginning of year $ 55,396 $ 66,954 $ 6,113 $ 128,463 Capitalization 1,951 1,166 61 3,178 Amortization expense ( 3,384 ) ( 1,944 ) ( 190 ) ( 5,518 ) Other, including Experience Adjustment ( 1,632 ) ( 327 ) ( 568 ) ( 2,527 ) Balance, end of period $ 52,331 $ 65,849 $ 5,416 $ 123,596

Policy Benefits and Losses, Cla

Policy Benefits and Losses, Claims and Loss Expenses Payable	3 Months Ended
	Jun. 30, 2024
Insurance [Abstract]
Policy Benefits and Losses, Claims and Loss Expenses Payable	. Life Insurance Liabilities The following tables summarize balances and changes in the liability for future policy benefits for life insurance contracts and a reconciliation to policy benefits and losses, claims and loss expense payable. Quarter ended June 30, 2024 2023 (Unaudited) (In thousands) Present value of expected net premiums Balance, beginning of year $ 205,389 $ 223,118 Beginning balance at original discount rate $ 204,306 $ 225,071 Effect of changes in cash flow assumptions — — Effect of actual variances from expected experience ( 367 ) 246 Adjusted beginning of year balance $ 203,939 $ 225,317 Issuances 2,002 2,353 Interest accrual 2,493 2,574 Net premium collected ( 9,221 ) ( 9,769 ) Other — — Ending balance at original discount rate $ 199,213 $ 220,475 Effect of changes in discount rate assumptions (AOCI) ( 2,480 ) 2,166 Balance, end of period $ 196,733 $ 222,641 Present value of expected future policy benefits Balance, beginning of year $ 522,122 $ 530,983 Beginning balance at original discount rate $ 514,113 $ 533,688 Effect of changes in cash flow assumptions — — Effect of actual variances from expected experiences ( 464 ) 355 Adjusted beginning of year balance $ 513,649 $ 534,043 Issuances 2,002 2,398 Interest accrual 6,279 6,534 Benefit payments ( 14,142 ) ( 14,311 ) Other — — Ending balance at original discount rate $ 507,788 $ 528,664 Effect of changes in discount rate assumptions (AOCI) ( 4,331 ) 10,786 Balance, end of period $ 503,457 $ 539,450 End of period, LFPB net 306,724 316,809 Payout annuities and market risk benefits 24,569 31,375 Health insurance 13,189 14,178 Life and annuity claims in course of settlement and claims incurred but not yet reported / Reinsurance losses payable 30,916 28,910 Life DPL / Other life and health 9,408 10,195 LFPB flooring effect 69 — Life Insurance end of period balance 384,875 401,467 Moving and Storage balance 327,497 328,009 Property and Casualty balance 129,489 148,960 Policy benefits and losses, claims and loss expenses balance, end of period 841,861 $ 878,436 Quarter ended June 30, 2024 2023 (Unaudited) (In thousands, except for percentages and weighted average information) Expected gross premiums Undiscounted balance $ 358,097 $ 395,641 Discounted balance at original discount rate $ 278,118 $ 305,166 Discounted balance at current discount rate $ 274,345 $ 307,763 Expected policy benefits Undiscounted balance $ 732,006 $ 770,210 Discounted balance at original discount rate $ 507,787 $ 528,663 Discounted balance at current discount rate $ 503,456 $ 539,449 Mortality, lapses and morbidity Mortality actual experience 5.49 % 5.29 % Mortality expected experience 5.35 % 4.93 % Lapses actual experience 1.92 % 1.71 % Lapses expected experience 2.73 % 2.64 % Premiums and interest expense Gross premiums (1) $ 12,538 $ 13,414 Interest expense (2) $ 3,786 $ 3,960 Expected duration (persistency) of policies in-force (years) 6.8 8.2 Weighted average original interest rate of the liability for future policy benefits 4.98 % 5.23 % Weighted average current interest rate of the liability for future policy benefits 4.97 % 4.87 % (1) Gross premiums are related to life insurance and are included in Life insurance premiums. (2) Interest expense is included in Policy benefits and losses, claims and loss expenses payable. The following tables present the balances and changes in Liabilities from investment contracts account balances: Quarter ended June 30, 2024 Deferred Annuities (Unaudited) (In thousands, except for the average credited rate) Policyholder contract deposits account balance Beginning of year $ 2,411,352 Deposits received 76,417 Surrenders and withdrawals ( 94,440 ) Benefit payments ( 12,745 ) Interest credited 19,507 Other 6,373 End of period $ 2,406,464 Weighted average credited rate 3.27 Cash surrender value $ 2,084,896 Quarter ended June 30, 2023 Deferred Annuities (Unaudited) (In thousands, except for the average credited rate) Policyholder contract deposits account balance Beginning of year $ 2,398,884 Deposits received 43,944 Surrenders and withdrawals ( 64,445 ) Benefit payments ( 10,813 ) Interest credited 16,760 Other — End of period $ 2,384,330 Weighted average credited rate 2.79 Cash surrender value $ 2,069,292

Accounting Pronouncements

Accounting Pronouncements	3 Months Ended
	Jun. 30, 2024
Text Block [Abstract]
Accounting Pronouncements	21. Accounting Pronouncements Adoption of New Accounting Pronouncements In March 2023, the FASB issued ASU 2023-01, Leases (Topic 842 – Common Control Arrangements (“ASU 2023-01”). ASU 2023-01, accounting for leasehold improvements, requires a lessee in a common-control lease arrangement to amortize leasehold improvements that it owns over the improvements’ useful life to the common control group, regardless of the lease term, if the lessee continues to control the use of the underlying asset through a lease. The amendment was effective for fiscal years beginning after December 15, 2023. The adoption of the standard did not have a material impact on our consolidated financial statements and disclosures. Recent Accounting Pronouncements In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures . ASU 2023-07 requires disclosures to include significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”), a description of other segment items by reportable segment and any additional measures of a segment's profit or loss used by the CODM when deciding how to allocate resources. The ASU requires all annual disclosures currently required by Topic 280 to be included in interim periods and is applicable to entities with a single reportable segment. The amendment is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The amendment is effective retrospectively to all prior periods presented in the financial statements. We are currently assessing the impact of adopting ASU 2023-07 on our consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures . ASU 2023-09 requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income tax paid. Early adoption is permitted. The amendment is effective prospectively to all annual periods beginning after December 15, 2024. We are currently evaluating the impact of this standard on our consolidated financial statements and related disclosures. In March 2024, the United States Securities and Exchange Commission ("SEC") issued a final rule that requires disclosure of: (i) financial statement impacts of severe weather events and other natural conditions; (ii) a roll forward of carbon offset and REC balances if material to the Company's plan to achieve climate-related targets or goals; and (iii) material impacts on estimates and assumptions in the financial statements. In April 2024, the SEC issued an order staying the final rule pending judicial review of consolidated challenges to the rules by the Court of Appeals for the Eighth Circuit. The Company cannot predict what, if any, changes in scope or timing may occur as a result of the pending litigation. The Company continues its assessment to prepare for the new rule. If the rule ultimately goes into effect as adopted, the Company would be required to comply with financial statement disclosure requirements, other than disclosure of material impacts on estimates and assumptions, with respect to the fiscal year beginning April 1, 2025.

Earnings Per Share (Table Text

Earnings Per Share (Table Text Block)	3 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share Calculation Basic Diluted Earnings Per Share Voting Non Voting Common Stock	The calculation of basic and diluted earnings per share for the quarters ended June 30, 2024 and 2023 for our Voting Common Stock and Non-Voting Common Stock were as follows: For the Quarters Ended June 30, 2024 2023 (Unaudited) (In thousands, except share and per share amounts) Weighted average shares outstanding of Voting Common Stock 19,607,788 19,607,788 Total weighted average shares outstanding for Voting Common Stock and Non-Voting Common Stock 196,077,880 196,077,880 Percent of weighted average shares outstanding of Voting Common Stock 10 % 10 % Net earnings available to common stockholders $ 195,417 $ 256,838 Voting Common Stock dividends declared and paid — — Non-Voting Common Stock dividends declared and paid ( 8,824 ) ( 7,059 ) Undistributed earnings available to common stockholders $ 186,593 $ 249,779 Undistributed earnings available to common stockholders allocated to Voting Common Stock $ 18,659 $ 24,978 Undistributed earnings per share of Voting Common Stock $ 0.95 $ 1.27 Dividends declared per share of Voting Common Stock $ — $ — Basic and diluted earnings per share of Voting Common Stock $ 0.95 $ 1.27 Weighted average shares outstanding of Non-Voting Common Stock 176,470,092 176,470,092 Total weighted average shares outstanding for Voting Common Stock and Non-Voting Common Stock 196,077,880 196,077,880 Percent of weighted average shares outstanding of Non-Voting Common Stock 90 % 90 % Net earnings available to common stockholders $ 195,417 $ 256,838 Voting Common Stock dividends declared and paid — — Non-Voting Common Stock dividends declared and paid ( 8,824 ) ( 7,059 ) Undistributed earnings available to common stockholders $ 186,593 $ 249,779 Undistributed earnings available to common stockholders allocated to Non-Voting Common Stock $ 167,934 $ 224,801 Undistributed earnings per share of Non-Voting Common Stock $ 0.95 $ 1.27 Dividends declared per share of Non-Voting Common Stock $ 0.05 $ 0.04 Basic and diluted earnings per share of Non-Voting Common Stock $ 1.00 $ 1.31

Investments (Table Text Block)

Investments (Table Text Block)	3 Months Ended	12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024
Investments Debt Equity Securities [Abstract]
Available for sale investments	Available-for-sale investments as of June 30, 2024 were as follows: Amortized Gross Gross Allowance for Expected Credit Losses Fair (Unaudited) (In thousands) U.S. treasury securities and government obligations $ 147,881 $ 235 $ ( 9,361 ) $ — $ 138,755 U.S. government agency mortgage-backed securities 47,208 153 ( 8,044 ) — 39,317 Obligations of states and political subdivisions 150,396 313 ( 8,108 ) — 142,601 Corporate securities 1,987,105 1,318 ( 165,015 ) ( 2,995 ) 1,820,413 Mortgage-backed securities 299,291 33 ( 44,520 ) — 254,804 $ 2,631,881 $ 2,052 $ ( 235,048 ) $ ( 2,995 ) $ 2,395,890 Available-for-sale investments as of March 31, 2024 were as follows: Amortized Gross Gross Allowance for Expected Credit Losses Fair (In thousands) U.S. treasury securities and government obligations $ 191,070 $ 2,123 $ ( 8,921 ) $ — $ 184,272 U.S. government agency mortgage-backed securities 48,067 250 ( 7,664 ) — 40,653 Obligations of states and political subdivisions 151,197 918 ( 7,533 ) — 144,582 Corporate securities 1,963,249 2,762 ( 152,799 ) ( 1,052 ) 1,812,160 Mortgage-backed securities 306,510 34 ( 45,707 ) — 260,837 $ 2,660,093 $ 6,087 $ ( 222,624 ) $ ( 1,052 ) $ 2,442,504
Available for sale investments, unrealized losses, fair value	June 30, 2024 Less than or equal to 1 year Greater than 1 year Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (Unaudited) (In thousands) U.S. treasury securities and government obligations $ 35,130 $ ( 40 ) $ 99,447 $ ( 9,321 ) $ 134,577 $ ( 9,361 ) U.S. government agency mortgage-backed securities — — 22,893 ( 8,044 ) 22,893 ( 8,044 ) Obligations of states and political subdivisions 31,299 ( 489 ) 81,171 ( 7,619 ) 112,470 ( 8,108 ) Corporate securities 204,656 ( 1,729 ) 1,500,739 ( 163,286 ) 1,705,395 ( 165,015 ) Mortgage-backed securities 10,340 ( 43 ) 242,491 ( 44,477 ) 252,831 ( 44,520 ) $ 281,425 $ ( 2,301 ) $ 1,946,741 $ ( 232,747 ) $ 2,228,166 $ ( 235,048 )	March 31, 2024 Less than or equal to 1 year Greater than 1 year Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (Unaudited) (In thousands) U.S. treasury securities and government obligations $ 1,888 $ ( 13 ) $ 103,336 $ ( 8,908 ) $ 105,224 $ ( 8,921 ) U.S. government agency mortgage-backed securities — — 23,711 ( 7,664 ) 23,711 ( 7,664 ) Obligations of states and political subdivisions 10,492 ( 222 ) 80,082 ( 7,311 ) 90,574 ( 7,533 ) Corporate securities 132,513 ( 1,258 ) 1,495,167 ( 151,541 ) 1,627,680 ( 152,799 ) Mortgage-backed securities 3,008 ( 23 ) 248,423 ( 45,684 ) 251,431 ( 45,707 ) $ 147,901 $ ( 1,516 ) $ 1,950,719 $ ( 221,108 ) $ 2,098,620 $ ( 222,624 )
Adjusted Cost and Estimated Market Value of Available-for-sale Investments	June 30, 2024 March 31, 2024 Amortized Fair Amortized Fair (Unaudited) (In thousands) Due in one year or less $ 301,514 $ 299,952 $ 266,357 $ 266,578 Due after one year through five years 608,709 587,286 748,338 723,903 Due after five years through ten years 664,240 605,525 614,890 564,422 Due after ten years 758,127 648,323 723,998 626,764 2,332,590 2,141,086 2,353,583 2,181,667 Mortgage-backed securities 299,291 254,804 306,510 260,837 $ 2,631,881 $ 2,395,890 $ 2,660,093 $ 2,442,504
Available for sale equity investments	Equity investments of common stock and non-redeemable preferred stock were as follows: June 30, 2024 March 31, 2024 Amortized Fair Amortized Fair (Unaudited) (In thousands) Common stocks $ 35,284 $ 51,999 $ 29,604 $ 45,014 Non-redeemable preferred stocks 25,144 22,067 25,144 21,260 $ 60,428 $ 74,066 $ 54,748 $ 66,274
Carrying value of Investments, other	The carrying value of the other investments was as follows: June 30, March 31, 2024 2024 (Unaudited) (In thousands) Mortgage loans, net $ 617,230 $ 604,481 Short-term investments — 997 Policy loans 11,390 11,229 Other investments 9,803 17,229 $ 638,423 $ 633,936

Accounts Payable and Accrued _2

Accounts Payable and Accrued Expense (Table Text Block)	3 Months Ended
	Jun. 30, 2024
Payables and Accruals [Abstract]
Accounts Payable and Accrued Expenses	June 30, March 31, 2024 2024 (In thousands) Accounts payable $ 248,127 $ 240,053 Accrued expenses 585,169 543,031 $ 833,296 $ 783,084

Notes, Loans and Finance Leases

Notes, Loans and Finance Leases Payable, net (Table Text Block)	3 Months Ended
	Jun. 30, 2024
Debt Instruments [Abstract]
Long-Term Debt	Long term debt was as follows: Fiscal Year 2025 Interest Rates Maturities Weighted Avg Interest Rates (c) June 30, 2024 March 31, (Unaudited) (In thousands) Real estate loans (amortizing term) (a) 4.30 % - 6.80 % 2027 - 2037 5.89 % $ 274,797 $ 277,767 Senior mortgages 2.70 % - 6.05 % 2026 - 2042 4.16 % 2,222,442 2,284,853 Real estate loans (revolving credit) — % - — % — - 2027 - % — — Fleet loans (amortizing term) 1.61 % - 5.68 % 2024 - 2029 3.89 % 59,744 70,454 Fleet loans (revolving credit) (b) 6.57 % - 6.68 % 2027 - 2029 6.62 % 585,000 573,889 Finance leases (rental equipment) 2.86 % - 5.01 % 2024 - 2026 4.16 % 98,382 117,641 Finance liability (rental equipment) 1.60 % - 6.80 % 2024 - 2031 4.88 % 1,801,109 1,708,619 Private placements 2.43 % - 2.88 % 2029 - 2035 2.65 % 1,200,000 1,200,000 Other obligations 1.50 % - 8.00 % 2024 - 2049 6.26 % 70,202 70,815 Notes, loans and finance leases payable 6,311,676 6,304,038 Less: Debt issuance costs ( 31,371 ) ( 32,676 ) Total notes, loans and finance leases payable, net $ 6,280,305 $ 6,271,362 (a) Certain loans have interest rate swaps fixing the rate for the relevant loans between 2.72 % and 2.86 % based on current margin. The weighted average interest rate calculation for these loans was 4.10 % using the swap adjusted interest rate. (b) A loan has an interest rate swap fixing the rate for $ 100 million of the relevant loan at 4.71 % based on current margin. The weighted average interest rate calculation for these loans was 6.51 % using the swap adjusted interest rate. (c) Weighted average rates as of June 30, 2024.
Components of interest expense	Components of interest expense included the following: Quarter ended June 30, 2024 2023 (Unaudited) (In thousands) Interest expense $ 71,147 $ 64,400 Capitalized interest ( 4,013 ) ( 4,063 ) Amortization of transaction costs 1,509 1,411 Interest expense resulting from cash flow hedges ( 1,425 ) ( 1,150 ) Total interest expense $ 67,218 $ 60,598
Interest rates and company borrowings	Interest rates and Company borrowings related to our revolving credit facilities were as follows: Revolving Credit Activity Quarter ended June 30, 2024 2023 (Unaudited) (In thousands, except interest rates) Weighted average interest rate during the quarter 6.63 % 6.26 % Interest rate at the end of the quarter 6.61 % 6.41 % Maximum amount outstanding during the quarter $ 735,000 $ 715,000 Average amount outstanding during the quarter $ 665,861 $ 660,330 Facility fees $ 263 $ 265

Derivatives (Table Text Block)

Derivatives (Table Text Block)	3 Months Ended
	Jun. 30, 2024
Interest Rate Swap [Member]
Derivative [Line Items]
Schedule of derivative instruments in statement of financial position, fair value	Derivatives Fair Values as of June 30, 2024 March 31, 2024 (Unaudited) (In thousands) Interest rate swaps designated as cash flow hedges: Assets $ 8,386 $ 8,392 Notional amount $ 295,747 $ 297,867
Equity Swap [Member]
Derivative [Line Items]
Schedule of derivative instruments in statement of financial position, fair value	Derivatives Fair Values as of June 30, 2024 March 31, 2024 (Unaudited) (In thousands) Equity market contracts as economic hedging instruments: Assets $ 8,804 $ 10,538 Notional amount $ 466,445 $ 526,449

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Table Text Block)	3 Months Ended
	Jun. 30, 2024
Table Text Block Supplement [Abstract]
Summary of Accumulated Other Comprehensive Income (Loss) Components, Net of Tax	AOCI: Foreign Unrealized Fair Postretirement Accumulated (Unaudited) (In thousands) Balance as of March 31, 2024 $ ( 53,707 ) $ ( 176,883 ) $ 6,330 $ 1,044 $ ( 223,216 ) Foreign currency translation ( 204 ) — — — ( 204 ) Unrealized net loss on investments and impact of LFBP discount rates — ( 5,413 ) — — ( 5,413 ) Change in fair value of cash flow hedges — — ( 1,905 ) — ( 1,905 ) Amounts reclassified into earnings on hedging activities — — ( 1,075 ) — ( 1,075 ) Other comprehensive income (loss) ( 204 ) ( 5,413 ) ( 2,980 ) — ( 8,597 ) Balance as of June 30, 2024 $ ( 53,911 ) $ ( 182,296 ) $ 3,350 $ 1,044 $ ( 231,813 ) Foreign Unrealized Fair Postretirement Accumulated (Unaudited) (In thousands) Balance as of March 31, 2023 $ ( 56,539 ) $ ( 232,740 ) $ 4,007 $ ( 351 ) $ ( 285,623 ) Foreign currency translation 469 — — — 469 Unrealized net gain on investments and impact of LFBP discount rates — 20,344 — — 20,344 Change in fair value of cash flow hedges — — 3,842 — 3,842 Amounts reclassified into earnings on hedging activities — — ( 868 ) — ( 868 ) Other comprehensive income (loss) 469 20,344 2,974 — 23,787 Balance as of June 30, 2023 $ ( 56,070 ) $ ( 212,396 ) $ 6,981 $ ( 351 ) $ ( 261,836 ) (a) Liability for future policy benefits

Stockholders' Equity (Table Tex

Stockholders' Equity (Table Text Block)	3 Months Ended
	Jun. 30, 2024
Stockholders' Equity [Abstract]
Summary of Dividends Declared	The following table lists the dividends that have been declared and issued for the first three months of fiscal years 2025 and 2024: Non-Voting Common Stock Dividends Declared Date Per Share Amount Record Date Dividend Date June 5, 2024 $ 0.05 June 17, 2024 June 28, 2024 June 7, 2023 0.04 June 20, 2023 June 30, 2023

Leases (Table Text Block)

Leases (Table Text Block)	3 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Supplemental Balance Sheet Information Related to Leases	As of June 30, 2024 Finance Operating Total (Unaudited) (In thousands) Buildings and improvements $ — $ 81,571 $ 81,571 Furniture and equipment 61 — 61 Rental trailers and other rental equipment 104,092 — 104,092 Rental trucks 585,415 — 585,415 Right-of-use assets, gross 689,568 81,571 771,139 Less: Accumulated depreciation ( 423,824 ) ( 28,316 ) ( 452,140 ) Right-of-use assets, net $ 265,744 $ 53,255 $ 318,999 As of March 31, 2024 Finance Operating Total (Unaudited) (In thousands) Buildings and improvements $ — $ 79,317 $ 79,317 Furniture and equipment 61 — 61 Rental trailers and other rental equipment 114,607 — 114,607 Rental trucks 607,521 — 607,521 Right-of-use assets, gross 722,189 79,317 801,506 Less: Accumulated depreciation ( 432,884 ) ( 25,605 ) ( 458,489 ) Right-of-use assets, net $ 289,305 $ 53,712 $ 343,017
Summary of Weighted-average remaining lease terms and Discount rates	Finance leases June 30, March 31, 2024 2024 (Unaudited) Weighted average remaining lease term (years) 1 1 Weighted average discount rate 4.2 % 4.1 % Operating leases June 30, March 31, 2024 2024 (Unaudited) Weighted average remaining lease term (years) 22 21.9 Weighted average discount rate 4.6 % 4.6 %
Components of Lease Expense	Three months ended June 30, 2024 June 30, 2023 (Unaudited) (In thousands) Operating lease costs $ 5,605 $ 8,102 Finance lease cost: Amortization of right-of-use assets $ 9,833 $ 16,754 Interest on lease liabilities 1,207 2,146 Total finance lease cost $ 11,040 $ 18,900
Maturities of Lease Liabilities	Finance leases Operating leases (Unaudited) Year ending March 31, (In thousands) 2025 (9 months) $ 67,577 $ 9,850 2026 34,473 10,029 2027 — 7,941 2028 — 6,792 2029 — 5,203 Thereafter — 61,754 Total lease payments 102,050 101,569 Less: imputed interest ( 3,668 ) ( 47,084 ) Present value of lease liabilities $ 98,382 $ 54,485

Related Party Transations (Tabl

Related Party Transations (Table Text Block)	3 Months Ended
	Jun. 30, 2024
Related Party Revenue [Abstract]
Related Party Revenue	Quarter ended June 30, 2024 2023 (Unaudited) (In thousands) U-Haul management fee revenue from Blackwater $ 7,715 $ 7,696 U-Haul management fee revenue from Mercury 1,780 1,481 $ 9,495 $ 9,177
Related Party costs and expenses	Quarter ended June 30, 2024 2023 (Unaudited) (In thousands) U-Haul lease expenses to Blackwater $ 604 $ 604 U-Haul printing expenses to Blackwater 1,103 349 U-Haul commission expenses to Blackwater 22,695 22,703 U-Haul lease expenses to Mercury 38 — U-Haul commission expenses to Mercury 6,128 — $ 30,568 $ 23,656
Related party assets	June 30, March 31, 2024 2024 (Unaudited) (In thousands) U-Haul receivable from Blackwater $ 33,643 $ 31,950 U-Haul receivable from Mercury 39,105 24,536 Other (a) ( 5,494 ) 1,448 $ 67,254 $ 57,934 (a) Timing differences for intercompany receivables and payable with insurance subsidiaries resulting from the three-month difference in reporting periods.

Consolidating Financial Infor_2

Consolidating Financial Information by Industry Segment (Table Text Block)	3 Months Ended
	Jun. 30, 2024
Table Text Block Supplement [Abstract]
Revenues and earnings by segment	Revenues and earnings from operations before equity in earnings of subsidiaries by operating segment for the quarter ended June 30, 2024 were as follows: Moving & Property & Life Eliminations U-Haul Holding (Unaudited) (In thousands) Total revenues $ 1,469,161 $ 28,178 $ 53,749 $ ( 2,598 ) $ 1,548,490 Total earnings (losses) from operations before equity in earnings of subsidiaries $ 295,058 $ 11,483 $ ( 47 ) $ ( 252 ) $ 306,242 Revenues and earnings from operations before equity in earnings of subsidiaries by operating segment for the quarter ended June 30, 2023 were as follows: Moving & Property & Life Eliminations U-Haul Holding (Unaudited) (In thousands) Total revenues $ 1,459,513 $ 27,839 $ 55,681 $ ( 2,725 ) $ 1,540,308 Total earnings from operations before equity in earnings of subsidiaries $ 386,691 $ 11,982 $ 1,356 $ ( 371 ) $ 399,658
Assets by operating segment	Total assets by operating segment as of June 30, 2024 were as follows: Moving & Property & Life Eliminations U-Haul Holding (Unaudited) (In thousands) Total assets $ 16,447,193 $ 502,814 $ 2,957,781 $ ( 602,361 ) $ 19,305,427 Total assets by operating segment as of March 31, 2024 were as follows: Moving & Property & Life Eliminations U-Haul Holding (In thousands) Total assets $ 16,149,748 $ 501,566 $ 2,990,903 $ ( 583,459 ) $ 19,058,758

Geographic Area Data (Table Tex

Geographic Area Data (Table Text Block)	3 Months Ended
	Jun. 30, 2024
Geographic Areas, Long-Lived Assets [Abstract]
Summary of Geographic Area Data	United States Canada Consolidated (Unaudited) (All amounts are in thousands of U.S. $'s) Quarter ended June 30, 2024 Total revenues $ 1,467,693 $ 80,797 $ 1,548,490 Depreciation and amortization, net of gains on disposals 219,412 4,883 224,295 Interest expense 66,749 469 67,218 Pretax earnings 247,318 9,074 256,392 Income tax expense 58,377 2,598 60,975 Identifiable assets 18,454,865 850,562 19,305,427 Quarter ended June 30, 2023 Total revenues $ 1,461,284 $ 79,024 $ 1,540,308 Depreciation and amortization, net of gains (losses) on disposals 148,313 ( 1,433 ) 146,880 Interest expense 59,946 652 60,598 Pretax earnings 327,072 11,623 338,695 Income tax expense 78,595 3,262 81,857 Identifiable assets 17,892,739 721,295 18,614,034

Employee Benefit Plans (Table T

Employee Benefit Plans (Table Text Block)	3 Months Ended
	Jun. 30, 2024
Compensation and Retirement Disclosure [Abstract]
Components of Net Periodic Post Retirement Benefit Cost	The components of the net periodic benefit costs with respect to postretirement benefits were as follows: Quarter ended June 30, 2024 2023 (Unaudited) (In thousands) Service cost for benefits earned during the period $ 245 $ 297 Other components of net periodic benefit costs: Interest cost on accumulated postretirement benefit 375 367 Other components ( 3 ) ( 2 ) Total other components of net periodic benefit costs 372 365 Net periodic postretirement benefit cost $ 617 $ 662

Fair Value Measurements (Table

Fair Value Measurements (Table Text Block)	3 Months Ended	12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis	As of June 30, 2024 Total Level 1 Level 2 Level 3 (Unaudited) Assets (In thousands) Fixed maturities - available for sale $ 2,395,890 $ — $ 2,395,832 $ 58 Preferred stock 22,067 22,067 — — Common stock 51,999 51,999 — — Derivatives 17,190 8,804 8,386 — Total $ 2,487,146 $ 82,870 $ 2,404,218 $ 58 Liabilities Embedded derivatives $ 9,880 $ — $ — $ 9,880 Liabilities from investment contracts 2,295,851 — — 2,295,851 Market risk benefits 13,447 — — 13,447 Total $ 2,319,178 $ — $ — $ 2,319,178	As of March 31, 2024 Total Level 1 Level 2 Level 3 (In thousands) Assets Fixed maturities - available for sale $ 2,442,504 $ — $ 2,442,446 $ 58 Preferred stock 21,260 21,260 — — Common stock 45,014 45,014 — — Derivatives 18,930 10,538 8,392 — Total $ 2,527,708 $ 76,812 $ 2,450,838 $ 58 Liabilities Embedded derivatives $ 9,300 $ — $ — $ 9,300 Liabilities from investment contracts 2,290,096 — — 2,290,096 Market risk benefits 13,400 — — 13,400 Total $ 2,312,796 $ — $ — $ 2,312,796
Financial Instruments, Carrying and Estimated fair values	Fair Value Hierarchy Carrying Total As of June 30, 2024 Value Level 1 Level 2 Level 3 Fair Value (Unaudited) Assets (In thousands) Trade receivables, net $ 215,735 $ — $ — $ 215,735 $ 215,735 Mortgage loans, net 617,230 — — 589,880 589,880 Other investments 12,389 — — 12,389 12,389 Total $ 845,354 $ — $ — $ 818,004 $ 818,004 Liabilities Notes, loans and finance leases payable $ 6,311,676 $ — $ 5,888,119 $ — $ 5,888,119 Total $ 6,311,676 $ — $ 5,888,119 $ — $ 5,888,119	Fair Value Hierarchy Carrying Total As of March 31, 2024 Value Level 1 Level 2 Level 3 Fair Value (In thousands) Assets Trade receivables, net $ 177,602 $ — $ — $ 177,602 $ 177,602 Mortgage loans, net 604,481 — — 579,767 579,767 Other investments 18,917 — — 18,917 18,917 Total $ 801,000 $ — $ — $ 776,286 $ 776,286 Liabilities Notes, loans and finance leases payable 6,304,038 — 5,850,346 — 5,850,346 Total $ 6,304,038 $ — $ 5,850,346 $ — $ 5,850,346

Revenue Recognition (Table Text

Revenue Recognition (Table Text Block)	3 Months Ended
	Jun. 30, 2024
Revenue From Contract With Customer [Abstract]
Next five years and thereafter revenue	Years Ending June 30, 2025 2026 2027 2028 2029 Thereafter (Unaudited) (In thousands) Self-moving equipment rental revenues $ 8,095 $ — $ — $ — $ — $ — Property lease revenues 15,462 15,356 12,142 8,772 6,150 27,261 Total $ 23,557 $ 15,356 $ 12,142 $ 8,772 $ 6,150 $ 27,261
Disaggregation Of Revenue	Quarter ended June 30, 2024 2023 (Unaudited) (In thousands) Revenues recognized over time: $ 100,175 $ 91,315 Revenues recognized at a point in time: 113,725 117,593 Total revenues recognized under ASC 606 213,900 208,908 Revenues recognized under ASC 842 1,254,317 1,222,316 Insurance premium revenues recognized under ASC 944 43,148 44,492 Net investment and interest income recognized under other topics 37,125 64,592 Total revenues $ 1,548,490 $ 1,540,308

Allowance For Credit Losses (Ta

Allowance For Credit Losses (Table Text Block)	3 Months Ended
	Jun. 30, 2024
Allowance For Credit Loss [Abstract]
Reserve Allowance for Various Credit Loss	The following details the changes in the Company’s reserve allowance for credit losses for trade receivables, fixed maturities and investments, other: Allowance for Credit Losses Trade Receivables Investments, Fixed Maturities Investments, other Total (Unaudited) (in thousands) Balance as of March 31, 2023 $ 3,789 $ 2,101 $ 517 $ 6,407 Provision for (reversal of) credit losses 2,447 ( 1,049 ) 300 1,698 Write-offs against allowance — — — — Recoveries — — — — Balance as of March 31, 2024 $ 6,236 $ 1,052 $ 817 $ 8,105 Provision for (reversal of) credit losses 2,047 1,943 ( 369 ) 3,621 Write-offs against allowance — — — — Recoveries — — — — Balance as of June 30, 2024 $ 8,283 $ 2,995 $ 448 $ 11,726

Accounting Pronouncements (Tabl

Accounting Pronouncements (Table Text Block)	3 Months Ended
	Jun. 30, 2024
New Accounting Pronouncements And Changes In Accounting Principles [Abstract]
Adoption Of New Accounting Pronouncement Adjustments To Select Tables	21. Accounting Pronouncements Adoption of New Accounting Pronouncements In March 2023, the FASB issued ASU 2023-01, Leases (Topic 842 – Common Control Arrangements (“ASU 2023-01”). ASU 2023-01, accounting for leasehold improvements, requires a lessee in a common-control lease arrangement to amortize leasehold improvements that it owns over the improvements’ useful life to the common control group, regardless of the lease term, if the lessee continues to control the use of the underlying asset through a lease. The amendment was effective for fiscal years beginning after December 15, 2023. The adoption of the standard did not have a material impact on our consolidated financial statements and disclosures. Recent Accounting Pronouncements In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures . ASU 2023-07 requires disclosures to include significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”), a description of other segment items by reportable segment and any additional measures of a segment's profit or loss used by the CODM when deciding how to allocate resources. The ASU requires all annual disclosures currently required by Topic 280 to be included in interim periods and is applicable to entities with a single reportable segment. The amendment is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The amendment is effective retrospectively to all prior periods presented in the financial statements. We are currently assessing the impact of adopting ASU 2023-07 on our consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures . ASU 2023-09 requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income tax paid. Early adoption is permitted. The amendment is effective prospectively to all annual periods beginning after December 15, 2024. We are currently evaluating the impact of this standard on our consolidated financial statements and related disclosures. In March 2024, the United States Securities and Exchange Commission ("SEC") issued a final rule that requires disclosure of: (i) financial statement impacts of severe weather events and other natural conditions; (ii) a roll forward of carbon offset and REC balances if material to the Company's plan to achieve climate-related targets or goals; and (iii) material impacts on estimates and assumptions in the financial statements. In April 2024, the SEC issued an order staying the final rule pending judicial review of consolidated challenges to the rules by the Court of Appeals for the Eighth Circuit. The Company cannot predict what, if any, changes in scope or timing may occur as a result of the pending litigation. The Company continues its assessment to prepare for the new rule. If the rule ultimately goes into effect as adopted, the Company would be required to comply with financial statement disclosure requirements, other than disclosure of material impacts on estimates and assumptions, with respect to the fiscal year beginning April 1, 2025.

Deferred Policy Acquisition C_2

Deferred Policy Acquisition Costs, Net (Table Text Block)	3 Months Ended
	Jun. 30, 2024
Compensation and Retirement Disclosure [Abstract]
Schedule of Deferred Policy Acquisition Costs	The following tables present a roll-forward of deferred policy acquisition costs related to long-duration contracts for the three-month periods ended June 30, 2024 and 2023. Quarter ended June 30, 2024 Deferred Annuities Life Insurance Health Insurance Total (Unaudited) (In thousands) Balance, beginning of year $ 54,747 $ 62,426 $ 4,051 $ 121,224 Capitalization 2,318 876 34 3,228 Amortization expense ( 2,187 ) ( 2,200 ) ( 259 ) ( 4,646 ) Other, including Experience Adjustment — — — — Balance, end of period $ 54,878 $ 61,102 $ 3,826 $ 119,806 Quarter ended June 30, 2023 Deferred Annuities Life Insurance Health Insurance Total (Unaudited) (In thousands) Balance, beginning of year $ 55,396 $ 66,954 $ 6,113 $ 128,463 Capitalization 1,951 1,166 61 3,178 Amortization expense ( 3,384 ) ( 1,944 ) ( 190 ) ( 5,518 ) Other, including Experience Adjustment ( 1,632 ) ( 327 ) ( 568 ) ( 2,527 ) Balance, end of period $ 52,331 $ 65,849 $ 5,416 $ 123,596

Policy Benefits and Losses, C_2

Policy Benefits and Losses, Claims and Loss Expenses Payable (Table Text Block)	3 Months Ended
	Jun. 30, 2024
Insurance [Abstract]
Present Value Expected Net Premiums and Expected Future Policy Benefits	The following tables summarize balances and changes in the liability for future policy benefits for life insurance contracts and a reconciliation to policy benefits and losses, claims and loss expense payable. Quarter ended June 30, 2024 2023 (Unaudited) (In thousands) Present value of expected net premiums Balance, beginning of year $ 205,389 $ 223,118 Beginning balance at original discount rate $ 204,306 $ 225,071 Effect of changes in cash flow assumptions — — Effect of actual variances from expected experience ( 367 ) 246 Adjusted beginning of year balance $ 203,939 $ 225,317 Issuances 2,002 2,353 Interest accrual 2,493 2,574 Net premium collected ( 9,221 ) ( 9,769 ) Other — — Ending balance at original discount rate $ 199,213 $ 220,475 Effect of changes in discount rate assumptions (AOCI) ( 2,480 ) 2,166 Balance, end of period $ 196,733 $ 222,641 Present value of expected future policy benefits Balance, beginning of year $ 522,122 $ 530,983 Beginning balance at original discount rate $ 514,113 $ 533,688 Effect of changes in cash flow assumptions — — Effect of actual variances from expected experiences ( 464 ) 355 Adjusted beginning of year balance $ 513,649 $ 534,043 Issuances 2,002 2,398 Interest accrual 6,279 6,534 Benefit payments ( 14,142 ) ( 14,311 ) Other — — Ending balance at original discount rate $ 507,788 $ 528,664 Effect of changes in discount rate assumptions (AOCI) ( 4,331 ) 10,786 Balance, end of period $ 503,457 $ 539,450 End of period, LFPB net 306,724 316,809 Payout annuities and market risk benefits 24,569 31,375 Health insurance 13,189 14,178 Life and annuity claims in course of settlement and claims incurred but not yet reported / Reinsurance losses payable 30,916 28,910 Life DPL / Other life and health 9,408 10,195 LFPB flooring effect 69 — Life Insurance end of period balance 384,875 401,467 Moving and Storage balance 327,497 328,009 Property and Casualty balance 129,489 148,960 Policy benefits and losses, claims and loss expenses balance, end of period 841,861 $ 878,436 Quarter ended June 30, 2024 2023 (Unaudited) (In thousands, except for percentages and weighted average information) Expected gross premiums Undiscounted balance $ 358,097 $ 395,641 Discounted balance at original discount rate $ 278,118 $ 305,166 Discounted balance at current discount rate $ 274,345 $ 307,763 Expected policy benefits Undiscounted balance $ 732,006 $ 770,210 Discounted balance at original discount rate $ 507,787 $ 528,663 Discounted balance at current discount rate $ 503,456 $ 539,449 Mortality, lapses and morbidity Mortality actual experience 5.49 % 5.29 % Mortality expected experience 5.35 % 4.93 % Lapses actual experience 1.92 % 1.71 % Lapses expected experience 2.73 % 2.64 % Premiums and interest expense Gross premiums (1) $ 12,538 $ 13,414 Interest expense (2) $ 3,786 $ 3,960 Expected duration (persistency) of policies in-force (years) 6.8 8.2 Weighted average original interest rate of the liability for future policy benefits 4.98 % 5.23 % Weighted average current interest rate of the liability for future policy benefits 4.97 % 4.87 %
Balance Changes Liabilities Investment Contracts	The following tables present the balances and changes in Liabilities from investment contracts account balances: Quarter ended June 30, 2024 Deferred Annuities (Unaudited) (In thousands, except for the average credited rate) Policyholder contract deposits account balance Beginning of year $ 2,411,352 Deposits received 76,417 Surrenders and withdrawals ( 94,440 ) Benefit payments ( 12,745 ) Interest credited 19,507 Other 6,373 End of period $ 2,406,464 Weighted average credited rate 3.27 Cash surrender value $ 2,084,896 Quarter ended June 30, 2023 Deferred Annuities (Unaudited) (In thousands, except for the average credited rate) Policyholder contract deposits account balance Beginning of year $ 2,398,884 Deposits received 43,944 Surrenders and withdrawals ( 64,445 ) Benefit payments ( 10,813 ) Interest credited 16,760 Other — End of period $ 2,384,330 Weighted average credited rate 2.79 Cash surrender value $ 2,069,292

Earnings Per Share (Narratives)

Earnings Per Share (Narratives) (Details) - $ / shares	Jun. 30, 2024	Mar. 31, 2024
Common Stock [Member]
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Common stock, par or stated value per share	$ 0.25
Allocation of common stock available to share holders	10%
Nonvoting Common Stock [Member]
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Common stock, par or stated value per share	$ 0.001	$ 0.001
Allocation of common stock available to share holders	90%

Earnings Per Share Calculation

Earnings Per Share Calculation Basic Diluted Earnings Per Share Voting Non Voting Common Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share Diluted Other Disclosures [Abstract]
Net earnings available to common shareholders	$ 195,417	$ 256,838
Common Stock [Member]
Earnings Per Share Diluted Other Disclosures [Abstract]
Weighted Average Number Of Shares Outstanding Basic	19,607,788	19,607,788
Percent Weighted Average Shares Outstanding Common Stock	10%	10%
Non-Voting Common Stock dividends declared	$ (8,824)	$ (7,059)
Undistributed earnings available to common stockholders	186,593	249,779
Undistributed earnings available to common stockholders, participating securities	$ 18,659	$ 24,978
Undistributed earnings per share, common stock	$ 0.95	$ 1.27
Income Loss From Continuing Operations Per Basic Share, Total	$ 0.95	$ 1.27
Nonvoting Common Stock [Member]
Earnings Per Share Diluted Other Disclosures [Abstract]
Weighted Average Number Of Shares Outstanding Basic	176,470,092	176,470,092
Percent Weighted Average Shares Outstanding Common Stock	90%	90%
Non-Voting Common Stock dividends declared	$ (8,824)	$ (7,059)
Undistributed earnings available to common stockholders	186,593	249,779
Undistributed earnings available to common stockholders, participating securities	$ 167,934	$ 224,801
Undistributed earnings per share, common stock	$ 0.95	$ 1.27
Dividends declared per share, distributed	0.05	0.04
Income Loss From Continuing Operations Per Basic Share, Total	$ 1	$ 1.31
Nonvoting Common Stock [Member] | Common Stock [Member]
Earnings Per Share Diluted Other Disclosures [Abstract]
Weighted Average Number Of Shares Outstanding Basic	196,077,880	196,077,880

Investments (Narratives) (Detai

Investments (Narratives) (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments [Abstract]
Assets Held by Insurance Regulators	$ 20.1		$ 23.1
Provision for Loan, Lease, and Other Losses [Abstract]
Financing Receivable, Credit Loss, Expense (Reversal)	1.9	$ 0.5
Matured or Redeemed Securities
Available-for-sale Securities [Abstract]
Available for sale securities, realized gains	95.5	338
Moving and Storage Treasuries
Available-for-sale Securities [Abstract]
Available for sale securities, realized gains	73	225
Corporate securities [Member]
Available-for-sale Securities [Abstract]
Available for sale securities, realized gains	3.6	0.9
Available for sale securities, gross realized losses	$ 1.8	$ 0.5

Investments (Available For Sale

Investments (Available For Sale Investments) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
Available-for-sale Securities [Abstract]
Debt Securities, Available-for-Sale, Amortized Cost, Current	$ 2,631,881	$ 2,660,093
Available For Sale Debt Securities Accumulated Gross Unrealized Gain	2,052	6,087
Gross unrealized losses more than 12 months	(235,048)	(222,624)
Allowance for expected credit loss	(2,995)	(1,052)
Available for sale investments, estimated market value	2,395,890	2,442,504
U.S. treasury securities and government obligations [Member]
Available-for-sale Securities [Abstract]
Debt Securities, Available-for-Sale, Amortized Cost, Current	147,881	191,070
Available For Sale Debt Securities Accumulated Gross Unrealized Gain	235	2,123
Gross unrealized losses more than 12 months	(9,361)	(8,921)
Available for sale investments, estimated market value	138,755	184,272
U.S. government agency mortgage-backed securities [Member]
Available-for-sale Securities [Abstract]
Debt Securities, Available-for-Sale, Amortized Cost, Current	47,208	48,067
Available For Sale Debt Securities Accumulated Gross Unrealized Gain	153	250
Gross unrealized losses more than 12 months	(8,044)	(7,664)
Available for sale investments, estimated market value	39,317	40,653
Obligations of states and political subdivisions [Member]
Available-for-sale Securities [Abstract]
Debt Securities, Available-for-Sale, Amortized Cost, Current	150,396	151,197
Available For Sale Debt Securities Accumulated Gross Unrealized Gain	313	918
Gross unrealized losses more than 12 months	(8,108)	(7,533)
Available for sale investments, estimated market value	142,601	144,582
Corporate securities [Member]
Available-for-sale Securities [Abstract]
Debt Securities, Available-for-Sale, Amortized Cost, Current	1,987,105	1,963,249
Available For Sale Debt Securities Accumulated Gross Unrealized Gain	1,318	2,762
Gross unrealized losses more than 12 months	(165,015)	(152,799)
Allowance for expected credit loss	(2,995)	(1,052)
Available for sale investments, estimated market value	1,820,413	1,812,160
Mortgage-backed securities [Member]
Available-for-sale Securities [Abstract]
Debt Securities, Available-for-Sale, Amortized Cost, Current	299,291	306,510
Available For Sale Debt Securities Accumulated Gross Unrealized Gain	33	34
Gross unrealized losses more than 12 months	(44,520)	(45,707)
Available for sale investments, estimated market value	$ 254,804	$ 260,837

Investments - (Available-for-sa

Investments - (Available-for-sale investments with unrealized losses) (Details) - External Credit Rating, Investment Grade [Member] - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
Debt Securities, Available-for-Sale, Unrealized Loss Position [Abstract]
Fair Value, Less than Twelve Months	$ 281,425	$ 147,901
Fair Value, Twelve Months or Longer	1,946,741	1,950,719
Fair Value, Total	2,228,166	2,098,620
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Unrealized Loss, Less than Twelve Months	(2,301)	(1,516)
Unrealized Loss, Twelve Months or Longer	(232,747)	(221,108)
Unrealized Loss, Total	(235,048)	(222,624)
US Treasury, Government and Corporate Securities [Member]
Debt Securities, Available-for-Sale, Unrealized Loss Position [Abstract]
Fair Value, Less than Twelve Months	35,130	1,888
Fair Value, Twelve Months or Longer	99,447	103,336
Fair Value, Total	134,577	105,224
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Unrealized Loss, Less than Twelve Months	(40)	(13)
Unrealized Loss, Twelve Months or Longer	(9,321)	(8,908)
Unrealized Loss, Total	(9,361)	(8,921)
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]
Debt Securities, Available-for-Sale, Unrealized Loss Position [Abstract]
Fair Value, Twelve Months or Longer	22,893	23,711
Fair Value, Total	22,893	23,711
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Unrealized Loss, Twelve Months or Longer	(8,044)	(7,664)
Unrealized Loss, Total	(8,044)	(7,664)
US States and Political Subdivisions Debt Securities [Member]
Debt Securities, Available-for-Sale, Unrealized Loss Position [Abstract]
Fair Value, Less than Twelve Months	31,299	10,492
Fair Value, Twelve Months or Longer	81,171	80,082
Fair Value, Total	112,470	90,574
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Unrealized Loss, Less than Twelve Months	(489)	(222)
Unrealized Loss, Twelve Months or Longer	(7,619)	(7,311)
Unrealized Loss, Total	(8,108)	(7,533)
Corporate Debt Securities [Member]
Debt Securities, Available-for-Sale, Unrealized Loss Position [Abstract]
Fair Value, Less than Twelve Months	204,656	132,513
Fair Value, Twelve Months or Longer	1,500,739	1,495,167
Fair Value, Total	1,705,395	1,627,680
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Unrealized Loss, Less than Twelve Months	(1,729)	(1,258)
Unrealized Loss, Twelve Months or Longer	(163,286)	(151,541)
Unrealized Loss, Total	(165,015)	(152,799)
Collateralized Mortgage Backed Securities [Member]
Debt Securities, Available-for-Sale, Unrealized Loss Position [Abstract]
Fair Value, Less than Twelve Months	10,340	3,008
Fair Value, Twelve Months or Longer	242,491	248,423
Fair Value, Total	252,831	251,431
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Unrealized Loss, Less than Twelve Months	(43)	(23)
Unrealized Loss, Twelve Months or Longer	(44,477)	(45,684)
Unrealized Loss, Total	$ (44,520)	$ (45,707)

Investments (Adjusted cost and

Investments (Adjusted cost and estimated market value of available-for-sale investments) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
Available-for-sale securities, amortized cost:
Amortized cost	$ 2,631,881	$ 2,660,093
Available-for-sale securities, fair value:
Available for sale investments, estimated market value	2,395,890	2,442,504
US Treasury Securities [Member]
Available-for-sale securities, amortized cost:
Due in one year or less	301,514	266,357
Due after one year through five years	608,709	748,338
Due after five years through ten years	664,240	614,890
Due after ten years	758,127	723,998
Amortized cost	2,332,590	2,353,583
Available-for-sale securities, fair value:
Due in one year or less	299,952	266,578
Due after one year through five years	587,286	723,903
Due after five years through ten years	605,525	564,422
Due after ten years	648,323	626,764
Available for sale investments, estimated market value	2,141,086	2,181,667
Mortgage-backed securities [Member]
Available-for-sale securities, amortized cost:
Amortized cost	299,291	306,510
Available-for-sale securities, fair value:
Available for sale investments, estimated market value	$ 254,804	$ 260,837

Investments (Available for sa_2

Investments (Available for sale equity investments) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
Debt Securities Trading And Equity Securities FvNi Cost [Abstract]
Amortized cost, equity investments	$ 60,428	$ 54,748
Estimated market value, equity investments	74,066	66,274
Common Stock [Member]
Debt Securities Trading And Equity Securities FvNi Cost [Abstract]
Amortized cost, equity investments	35,284	29,604
Estimated market value, equity investments	51,999	45,014
Nonredeemable Preferred Stock [Member]
Debt Securities Trading And Equity Securities FvNi Cost [Abstract]
Amortized cost, equity investments	25,144	25,144
Estimated market value, equity investments	$ 22,067	$ 21,260

Investments (Carrying value of

Investments (Carrying value of other investments) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
Business Combination Separately Recognized Transactions Additional Disclosures [Abstract]
Mortgage loans, net	$ 589,880	$ 579,767
Investments other, amount	638,423	633,936
Other Investments [Member]
Business Combination Separately Recognized Transactions Additional Disclosures [Abstract]
Mortgage loans, net	617,230	604,481
Short-term investments		997
Policy loans	11,390	11,229
Other equity investments	9,803	17,229
Investments other, amount	$ 638,423	$ 633,936

Accounts Payable and Accrued _3

Accounts Payable and Accrued Expense (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
Payables and Accruals [Abstract]
Accounts payable	$ 248,127	$ 240,053
Accrued expenses	585,169	543,031
Accounts Payable and Accrued Liabilities, Fair Value Disclosure, Total	$ 833,296	$ 783,084

Notes, Loans and Finance Leas_2

Notes, Loans and Finance Leases Payable, net (Narratives) (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Interest Paid, Including Capitalized Interest, Operating and Investing Activities [Abstract]
Interest paid in cash	$ 62.8	$ 55.4
Interest paid (received) in cash on derivative contracts	$ 1.5	$ 0

Notes, Loans and Finance Leas_3

Notes, Loans and Finance Leases Payable, net (Long-term Debt Borrowings) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Mar. 31, 2024
Debt instrument, maturities:
Debt Instrument Carrying Amount	$ 5,888,119	$ 5,850,346
Notes, loans and finance/capital leases payable	6,311,676	6,304,038
Less: Debt issuance costs	(31,371)	(32,676)
Total notes, loans and finance/capital leases payable, net	$ 6,280,305	6,271,362
Real estate loan (amortizing term) [Member]
Debt instruments, interest rate, stated percentage:
Debt Weighted Average Interest Rate	5.89%
Debt instrument, maturities:
Debt instrument, maturity year range, start	2027
Debt instrument, maturity year range, end	2037
Debt Instrument Carrying Amount	$ 274,797	277,767
Real estate loan (amortizing term) [Member] | Minimum [Member]
Debt instruments, interest rate, stated percentage:
Debt instrument, interest rate, stated percentage	4.30%
Real estate loan (amortizing term) [Member] | Maximum [Member]
Debt instruments, interest rate, stated percentage:
Debt instrument, interest rate, stated percentage	6.80%
Senior mortgages
Debt instruments, interest rate, stated percentage:
Debt Weighted Average Interest Rate	4.16%
Debt instrument, maturities:
Debt instrument, maturity year range, start	2026
Debt instrument, maturity year range, end	2042
Debt Instrument Carrying Amount	$ 2,222,442	2,284,853
Senior mortgages | Minimum [Member]
Debt instruments, interest rate, stated percentage:
Debt instrument, interest rate, stated percentage	2.70%
Senior mortgages | Maximum [Member]
Debt instruments, interest rate, stated percentage:
Debt instrument, interest rate, stated percentage	6.05%
Real estate loans (revolving credit) [Member]
Debt instrument, maturities:
Debt instrument, maturity year range, end	2027
Fleet loans (amortizing term) [Member]
Debt instruments, interest rate, stated percentage:
Debt Weighted Average Interest Rate	3.89%
Debt instrument, maturities:
Debt instrument, maturity year range, start	2024
Debt instrument, maturity year range, end	2029
Debt Instrument Carrying Amount	$ 59,744	$ 70,454
Fleet loans (amortizing term) [Member] | Minimum [Member]
Debt instruments, interest rate, stated percentage:
Debt instrument, interest rate, stated percentage	1.61%
Fleet loans (amortizing term) [Member] | Maximum [Member]
Debt instruments, interest rate, stated percentage:
Debt instrument, interest rate, stated percentage	5.68%
Fleet loans (revolving credit) [Member]
Debt instruments, interest rate, stated percentage:
Debt Weighted Average Interest Rate	6.62%	6.51%
Debt instrument, maturities:
Debt instrument, maturity year range, start	2027
Debt instrument, maturity year range, end	2029
Debt Instrument Carrying Amount	$ 585,000	$ 573,889
Fleet loans (revolving credit) [Member] | Minimum [Member]
Debt instruments, interest rate, stated percentage:
Debt instrument, interest rate, stated percentage	6.57%
Fleet loans (revolving credit) [Member] | Maximum [Member]
Debt instruments, interest rate, stated percentage:
Debt instrument, interest rate, stated percentage	6.68%
Capital Leases (rental equipment) [Member]
Debt instruments, interest rate, stated percentage:
Debt Weighted Average Interest Rate	4.16%
Debt instrument, maturities:
Debt instrument, maturity year range, start	2024
Debt instrument, maturity year range, end	2026
Debt Instrument Carrying Amount	$ 98,382	117,641
Capital Leases (rental equipment) [Member] | Minimum [Member]
Debt instruments, interest rate, stated percentage:
Debt instrument, interest rate, stated percentage	2.86%
Capital Leases (rental equipment) [Member] | Maximum [Member]
Debt instruments, interest rate, stated percentage:
Debt instrument, interest rate, stated percentage	5.01%
Finance capital lease [Member]
Debt instruments, interest rate, stated percentage:
Debt Weighted Average Interest Rate	4.88%
Debt instrument, maturities:
Debt instrument, maturity year range, start	2024
Debt instrument, maturity year range, end	2031
Debt Instrument Carrying Amount	$ 1,801,109	1,708,619
Finance capital lease [Member] | Minimum [Member]
Debt instruments, interest rate, stated percentage:
Debt instrument, interest rate, stated percentage	1.60%
Finance capital lease [Member] | Maximum [Member]
Debt instruments, interest rate, stated percentage:
Debt instrument, interest rate, stated percentage	6.80%
Private Placement
Debt instruments, interest rate, stated percentage:
Debt Weighted Average Interest Rate	2.65%
Debt instrument, maturities:
Debt instrument, maturity year range, start	2029
Debt instrument, maturity year range, end	2035
Debt Instrument Carrying Amount	$ 1,200,000	1,200,000
Private Placement | Minimum [Member]
Debt instruments, interest rate, stated percentage:
Debt instrument, interest rate, stated percentage	2.43%
Private Placement | Maximum [Member]
Debt instruments, interest rate, stated percentage:
Debt instrument, interest rate, stated percentage	2.88%
Other obligations
Debt instruments, interest rate, stated percentage:
Debt Weighted Average Interest Rate	6.26%
Debt instrument, maturities:
Debt instrument, maturity year range, start	2024
Debt instrument, maturity year range, end	2049
Debt Instrument Carrying Amount	$ 70,202	$ 70,815
Other obligations | Minimum [Member]
Debt instruments, interest rate, stated percentage:
Debt instrument, interest rate, stated percentage	1.50%
Other obligations | Maximum [Member]
Debt instruments, interest rate, stated percentage:
Debt instrument, interest rate, stated percentage	8%

Notes, Loans and Finance Leas_4

Notes, Loans and Finance Leases Payable, net (Long-term Debt Borrowings) (Parenthetical) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
Debt instrument, maturities:
Debt Instrument Carrying Amount	$ 5,888,119	$ 5,850,346
Real estate loan (amortizing term) [Member]
Debt instruments, interest rate, effective percentage:
Weighted average interest rate	5.89%
Debt instrument, maturities:
Debt Instrument Carrying Amount	$ 274,797	$ 277,767
Real estate loan (amortizing term) [Member] | Interest Rate Swaps [Member]
Debt instruments, interest rate, effective percentage:
Weighted average interest rate	4.10%	4.10%
Real estate loan (amortizing term) [Member] | Minimum [Member] | Interest Rate Swaps [Member]
Debt instruments, interest rate, effective percentage:
Interest rate	2.72%	2.72%
Real estate loan (amortizing term) [Member] | Maximum [Member] | Interest Rate Swaps [Member]
Debt instruments, interest rate, effective percentage:
Interest rate	2.86%	2.86%
Fleet Loans Revolving Credit [Member]
Debt instruments, interest rate, effective percentage:
Interest rate		4.71%
Weighted average interest rate	6.62%	6.51%
Debt instrument, maturities:
Debt Instrument Carrying Amount	$ 585,000	$ 573,889
Fleet Loans Revolving Credit [Member] | Interest Rate Swaps [Member]
Debt instruments, interest rate, effective percentage:
Interest rate	4.71%
Weighted average interest rate	6.51%
Debt instrument, maturities:
Debt Instrument Carrying Amount	$ 100,000	$ 100,000

Notes, Loans and Finance Leas_5

Notes, Loans and Finance Leases Payable, net (Components of Interest Expense) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Interest expense, borrowings:
Interest expense	$ 71,147	$ 64,400
Capitalized interest	(4,013)	(4,063)
Amortization of transaction costs	1,509	1,411
Interest expense resulting from derivatives	1,425	1,150
Total interest expense	$ 67,218	$ 60,598

Notes, Loans and Finance Leas_6

Notes, Loans and Finance Leases Payable, net (Interest Rates and Company Borrowings) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Interest and debt expense:
Weighted average interest rate during the quarter	6.63%	6.26%
Interest rate at quarter end	6.61%	6.41%
Maximum amount outstanding during the quarter	$ 735,000	$ 715,000
Average amount outstanding during the quarter	665,861	660,330
Facility fees	$ 263	$ 265

Derivatives (Narratives) (Detai

Derivatives (Narratives) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
AOCI Attributable to Parent [Abstract]
Interest expense	$ 67,218	$ 60,598
Investment Income, Net	1,400	1,600
Decrease, fair value, cash flow hedges
AOCI Attributable to Parent [Abstract]
Interest expense	1,900	3,800
Reclassified AOCI
AOCI Attributable to Parent [Abstract]
Interest expense	1,100	$ 900
Reclassification net gains Interest Rate Contracts
AOCI Attributable to Parent [Abstract]
Interest expense	$ 5,500

Derivatives (Interest rate cont

Derivatives (Interest rate contracts designated as hedging instruments) (Details) - Interest Rate Swap [Member] - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
Notional Amount Of Derivatives [Abstract]
Derivative Asset Notional Amount	$ 8,386	$ 8,392
Derivative Notional Amount	$ 295,747	$ 297,867

Derivatives (Equity Market Cont

Derivatives (Equity Market Contracts Designated As Hedging Instruments (Details) - Equity Swap [Member] - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
Notional Amount Of Derivatives [Abstract]
Derivative Asset Notional Amount	$ 8,804	$ 10,538
Derivative Notional Amount	$ 466,445	$ 526,449

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Summary of Accumulated Other Comprehensive Income (Loss) Components, Net of Tax) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Accumulated Other Comprehensive Income (Loss) Components, Net of Tax [Roll Forward]
Balance as of March 31, 2023	$ 223,216
Foreign currency translation	204	$ 469
Unrealized net gain on investments	5,413	20,344
Change in fair value of cash flow hedges	1,905	3,842
Amount reclassified from AOCI	1,075	868
Other comprehensive income (loss)	8,597	23,787
Balance as of June 30, 2024	231,813
Foreign Currency Translation [Member]
Accumulated Other Comprehensive Income (Loss) Components, Net of Tax [Roll Forward]
Balance as of March 31, 2023	53,707	56,539
Foreign currency translation	204	469
Other comprehensive income (loss)	204	469
Balance as of June 30, 2024	53,911	56,070
Unrealized Net Gain on Investments [Member]
Accumulated Other Comprehensive Income (Loss) Components, Net of Tax [Roll Forward]
Balance as of March 31, 2023	176,883	232,740
Unrealized net gain on investments	5,413	20,344
Other comprehensive income (loss)	5,413	20,344
Balance as of June 30, 2024	182,296	212,396
Fair Market Value of Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) Components, Net of Tax [Roll Forward]
Balance as of March 31, 2023	6,330	4,007
Change in fair value of cash flow hedges	1,905	3,842
Amount reclassified from AOCI	1,075	868
Other comprehensive income (loss)	2,980	2,974
Balance as of June 30, 2024	3,350	6,981
Postretirement Benefit Obligation Gain [Member]
Accumulated Other Comprehensive Income (Loss) Components, Net of Tax [Roll Forward]
Balance as of March 31, 2023	1,044	351
Balance as of June 30, 2024	1,044	351
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) Components, Net of Tax [Roll Forward]
Balance as of March 31, 2023	223,216	285,623
Foreign currency translation	204	469
Unrealized net gain on investments	5,413	20,344
Change in fair value of cash flow hedges	1,905	3,842
Amount reclassified from AOCI	1,075	868
Other comprehensive income (loss)	8,597	23,787
Balance as of June 30, 2024	$ 231,813	$ 261,836

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Dividends Declared (Details) - Nonvoting Common Stock [Member] - $ / shares	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Dividends Stock [Abstract]
Dividends Payable, Date Declared	Jun. 05, 2024	Jun. 05, 2024
Dividend paid, amount per share	$ 0.05	$ 0.05
Dividends Payable, Date of Record	Jun. 17, 2024	Jun. 17, 2024
Dividends Payable, Date to be Paid	Jun. 28, 2024	Jun. 28, 2024
Dividends Declared Two [Member]
Dividends Stock [Abstract]
Dividends Payable, Date Declared	Jun. 07, 2023	Jun. 07, 2023
Dividend paid, amount per share	$ 0.04	$ 0.04
Dividends Payable, Date of Record	Jun. 20, 2023	Jun. 20, 2023
Dividends Payable, Date to be Paid	Jun. 30, 2023	Jun. 30, 2023

Leases (Narratives) (Details)

Leases (Narratives) (Details) - USD ($)	3 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024
Leases [Abstract]
Right Of Use Asset Obtained In Exchange For Finance Lease Liability	$ 98,400,000		$ 117,600,000
Cash paid for operating leases	5,500	$ 8,900,000
Cash paid for finance leases	19,260,000	34,168,000
Operating Lease Payments	$ 2,300,000	$ 5,000,000

Leases (Components of our right

Leases (Components of our right-of-use assets) (Details) - USD ($)	Jun. 30, 2024	Mar. 31, 2024
Finance Lease [Abstract]
Buildings and Improvements	$ 81,571	$ 79,317,000
Furniture and equipment	61	61,000
Rental trailers and other rental equipment	104,092	114,607,000
Rental trucks	585,415	607,521,000
Right-of-use assets, gross	771,139	801,506,000
Less: Accumulated depreciation	(452,140)	(458,489,000)
Right of use assets, net	318,999	343,017,000
Finance Lease [Member]
Finance Lease [Abstract]
Furniture and equipment	61	61,000
Rental trailers and other rental equipment	104,092	114,607,000
Rental trucks	585,415	607,521,000
Right-of-use assets, gross	689,568	722,189,000
Less: Accumulated depreciation	(423,824)	(432,884,000)
Right of use assets, net	265,744	289,305,000
Operating Lease [Member]
Finance Lease [Abstract]
Buildings and Improvements	81,571	79,317,000
Right-of-use assets, gross	81,571	79,317,000
Less: Accumulated depreciation	(28,316)	(25,605,000)
Right of use assets, net	$ 53,255	$ 53,712,000

Leases (Finance Leases Weighted

Leases (Finance Leases Weighted Average Remaining Lease Term and Discount Rate) (Details)	3 Months Ended	12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024
Finance Leases Weighted Average Remaining Lease Term And Discount Rate [Abstract]
Remaining Lease Term Finance Lease Weighted Average	1	1
Finance Lease Weighted Average Discount Rate Percent	4.20%	4.10%

Leases (Operating Leases Weight

Leases (Operating Leases Weighted Average Remaining Lease Term and Discount Rate) (Details)	3 Months Ended	12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024
Operating Leases Remaining Lease Term And Weighted Average Discount Rate [Abstract]
Remaining Lease Term Operating Lease Weighted Average	22	21.9
Operating Lease Weighted Average Discount Rate Percent	4.60%	4.60%

Leases (Components Of Lease Exp

Leases (Components Of Lease Expense) (Details) - USD ($)	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Lease cost:
Operating lease costs	$ 5,605	$ 8,102,000
Finance lease cost:
Amortization of right of use assets	9,833	16,754,000
Interest on lease liabilities	1,207	2,146,000
Total finance lease cost	$ 11,040	$ 18,900,000

Leases (Maturities Of Lease Lia

Leases (Maturities Of Lease Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
Operating Lease Liabilities Payments Due [Abstract]
Operating lease liability	$ 54,485	$ 55,032
Finance Leases
Finance Lease Liabilities Payments Due [Abstract]
2025 (9 months)	67,577
2026	34,473
Total lease payments	102,050
Less: imputed interest	(3,668)
Financing lease liability	98,382
Operating Lease Liabilities Payments Due [Abstract]
2025 (9 months)	23,557
2026	15,356
2027	12,142
2028	8,772
2029	6,150
Thereafter	27,261
Operating Leases
Operating Lease Liabilities Payments Due [Abstract]
2025 (9 months)	9,850
2026	10,029
2027	7,941
2028	6,792
2029	5,203
Thereafter	61,754
Total lease payments	101,569
Less: imputed interest	(47,084)
Operating lease liability	$ 54,485

Related Party Transactions (Nar

Related Party Transactions (Narratives) (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Property Management Fee [Abstract]
Property Management Fee Revenue	$ 9.3	$ 8.2
Related party costs and expenses:
Revenue generated by the dealer agreement from related parties	138.9	103.5
Payments For Purchase Of Other Assets 1	28.8	22.7
Sac Holdings [Member]
Related party notes receivable:
Interest paid (received) in cash on derivative contracts	9.5	0.7
Private Mini [Member]
Related party costs and expenses:
Commission expenses, generated from dealer agreement with related parties	$ 0.6	0.6
Sac Holdings, Mercury, Four Sac, Five Sac, Galaxy and Private Mini [Member] | Minimum [Member]
Property Management Fee [Abstract]
Management fee rate	4%
Sac Holdings, Mercury, Four Sac, Five Sac, Galaxy and Private Mini [Member] | Maximum [Member]
Property Management Fee [Abstract]
Management fee rate	10%
Sac Holdings, Four Sac, Five Sac, Galaxy, and Private Mini [Member]
Related party costs and expenses:
Cash flow, related party	$ 8.6	$ 6.6

Related Party Transactions (Rel

Related Party Transactions (Related Party Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Related party transactions:
Management fee revenue	$ 9,495	$ 9,177
Blackwater [Member]
Related party transactions:
Management fee revenue	7,715	7,696
Mercury [Member]
Related party transactions:
Management fee revenue	$ 1,780	$ 1,481

Related Party Transactions (R_2

Related Party Transactions (Related Party Costs and Expenses) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Related party cost and expense:
Costs and Expenses, Related Party	$ 30,600	$ 23,700
Blackwater [Member]
Related party cost and expense:
Costs and Expenses, Related Party	30,568	23,656
Lease expenses | Blackwater [Member]
Related party cost and expense:
Costs and Expenses, Related Party	604	604
Lease expenses | Mercury [Member]
Related party cost and expense:
Costs and Expenses, Related Party	38
Printing expenses | Blackwater [Member]
Related party cost and expense:
Costs and Expenses, Related Party	1,103	349
Commission expenses | Blackwater [Member]
Related party cost and expense:
Costs and Expenses, Related Party	22,695	$ 22,703
Commission expenses | Mercury [Member]
Related party cost and expense:
Costs and Expenses, Related Party	$ 6,128

Related Party Transactions (R_3

Related Party Transactions (Related Party Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
Related Party Transaction [Line Items]
Related party assets	$ 67,254	$ 57,934
Blackwater [Member]
Related Party Transaction [Line Items]
Related party assets	33,643	31,950
Mercury [Member]
Related Party Transaction [Line Items]
Related party assets	39,105	24,536
Insurance Group [Member]
Related Party Transaction [Line Items]
Related party assets	$ 5,494	$ 1,448

Consolidating Financial Infor_3

Consolidating Financial Information by Operating Segment - (Revenues and Earnings) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Revenues [Abstract]
Revenues	$ 1,548,490	$ 1,540,308
Earnings from operations before equity in earnings of subsidiaries, total	306,242	399,658
Operating Segments [Member] | Moving and Storage Consolidations [Member]
Revenues [Abstract]
Revenues	1,469,161	1,459,513
Earnings from operations before equity in earnings of subsidiaries, total	295,058	386,691
Operating Segments [Member] | Property and Casualty Insurance [Member]
Revenues [Abstract]
Revenues	28,178	27,839
Earnings from operations before equity in earnings of subsidiaries, total	11,483	11,982
Operating Segments [Member] | Life Insurance [Member]
Revenues [Abstract]
Revenues	53,749	55,681
Earnings from operations before equity in earnings of subsidiaries, total	47	1,356
Intersegment Eliminations [Member]
Revenues [Abstract]
Revenues	2,598	2,725
Earnings from operations before equity in earnings of subsidiaries, total	$ 252	$ 371

Consolidating Financial Infor_4

Consolidating Financial Information by Operating Segment - (Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023
Assets [Abstract]
Total assets	$ 19,305,427	$ 19,058,758	$ 18,614,034
Operating Segments [Member] | Moving and Storage Consolidations [Member]
Assets [Abstract]
Total assets	16,447,193	16,149,748
Operating Segments [Member] | Property and Casualty Insurance [Member]
Assets [Abstract]
Total assets	502,814	501,566
Operating Segments [Member] | Life Insurance [Member]
Assets [Abstract]
Total assets	2,957,781	2,990,903
Intersegment Eliminations [Member]
Assets [Abstract]
Total assets	$ 602,361	$ 583,459

Geographic Area Data (Summary o

Geographic Area Data (Summary of Geographic Area Data) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024
Quarter ended:
Total revenues	$ 1,548,490	$ 1,540,308
Depreciation and amortization, net of (gains) losses on disposals	224,295	146,880
Interest expense	67,218	60,598
Pretax earnings	256,392	338,695
Income tax expense	60,975	81,857
Identifiable assets	19,305,427	18,614,034	$ 19,058,758
United States [Member]
Quarter ended:
Total revenues	1,467,693	1,461,284
Depreciation and amortization, net of (gains) losses on disposals	219,412	148,313
Interest expense	66,749	59,946
Pretax earnings	247,318	327,072
Income tax expense	58,377	78,595
Identifiable assets	18,454,865	17,892,739
Canada [Member]
Quarter ended:
Total revenues	80,797	79,024
Depreciation and amortization, net of (gains) losses on disposals	4,883	1,433
Interest expense	469	652
Pretax earnings	9,074	11,623
Income tax expense	2,598	3,262
Identifiable assets	$ 850,562	$ 721,295

Employee Benefit Plans (Compone

Employee Benefit Plans (Components of net periodic benefit costs post retirement benefits) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Postemployment Benefits [Abstract]
Service cost for benefits earned during the period	$ 245	$ 297
Other components of net periodic benefit costs:
Interest cost on accumulated postretirement benefit	375	367
Other components	3	2
Total other components of net periodic benefit costs	372	365
Net periodic postretirement benefit cost	$ 617	$ 662

Fair Value Measurements (Narrat

Fair Value Measurements (Narratives) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
Financial Instruments Financial Assets Balance Sheet Groupings [Abstract]
Cash and Cash Equivalents, at Carrying Value	$ 1,153,161	$ 1,534,544
Financial Instruments Financial Liabilities Balance Sheet Groupings [Abstract]
Liabilities Fair Value Carrying Value	5,888,119	5,850,346
Carrying Value [Member]
Financial Instruments Financial Assets Balance Sheet Groupings [Abstract]
Cash and Cash Equivalents, at Carrying Value	870,500	1,173,600
Financial Instruments Financial Liabilities Balance Sheet Groupings [Abstract]
Liabilities Fair Value Carrying Value	$ 6,311,676	$ 6,304,038

Fair Value Measurements (Financ

Fair Value Measurements (Financial instruments level within the fair value hierarchy) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
Assets:
Fixed maturities - available for sale	$ 2,395,890	$ 2,442,504
Preferred stock	22,067	21,260
Common stock	51,999	45,014
Derivatives	17,190	18,930
Total	2,319,178	2,527,708
Liabilities:
Guaranteed residual values of TRAC leases	9,880	9,300
Liabilities from investment contracts	2,295,851	2,290,096
Market risk benefits	13,447	13,400
Total	2,487,146	2,312,796
Level 1 [Member]
Assets:
Preferred stock	22,067	21,260
Common stock	51,999	45,014
Derivatives	8,804	10,538
Total		76,812
Liabilities:
Total	82,870
Level 2 [Member]
Assets:
Fixed maturities - available for sale	2,395,832	2,442,446
Derivatives	8,386	8,392
Total		2,450,838
Liabilities:
Total	2,404,218
Level 3 [Member]
Assets:
Fixed maturities - available for sale	58	58
Total	2,319,178	58
Liabilities:
Guaranteed residual values of TRAC leases	9,880	9,300
Liabilities from investment contracts	2,295,851	2,290,096
Market risk benefits	13,447	13,400
Total	$ 58	$ 2,312,796

Fair Value Measurements (Carryi

Fair Value Measurements (Carrying and Estimated Fair Values within Fair Value Hierarchy) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
Assets
Receivables, Fair Value Disclosure	$ 215,735	$ 177,602
Mortgage loans, net	589,880	579,767
Other investments	12,389	18,917
Total	818,004	776,286
Liabilities
Notes, loans and leases payable, gross	5,888,119	5,850,346
Total	5,888,119	5,850,346
Level 2 [Member]
Liabilities
Notes, loans and leases payable, gross	5,888,119	5,850,346
Total	5,888,119	5,850,346
Level 3 [Member]
Assets
Receivables, Fair Value Disclosure	215,735	177,602
Mortgage loans, net	589,880	579,767
Other investments	12,389	18,917
Total	818,004	776,286
Carrying Value [Member]
Assets
Receivables, Fair Value Disclosure	215,735	177,602
Mortgage loans, net	617,230	604,481
Other investments	12,389	18,917
Total	845,354	801,000
Liabilities
Notes, loans and leases payable, gross	6,311,676	6,304,038
Total	$ 6,311,676	$ 6,304,038

Revenue Recognition (Narratives

Revenue Recognition (Narratives) (Details) - Self-moving equipment rentals - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024
Lessee Lease Description [Line Items]
Operating lease income	$ 24.2	$ 24.1
Payments received from customers, income recognized			$ 47

Revenue Recognition (Revenue ov

Revenue Recognition (Revenue over time) (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Self-moving equipment rentals
Operating Lease Liabilities Payments Due [Abstract]
2025 (9 months)	$ 8,095
Property lease revenues
Operating Lease Liabilities Payments Due [Abstract]
2025 (9 months)	15,462
2026	15,356
2027	12,142
2028	8,772
2029	6,150
Thereafter	27,261
Customer and Property Tenant Revenue Long Term
Operating Lease Liabilities Payments Due [Abstract]
2025 (9 months)	23,557
2026	15,356
2027	12,142
2028	8,772
2029	6,150
Thereafter	$ 27,261

Revenue Recognition (Revenue di

Revenue Recognition (Revenue disaggregated by timing of revenue recognition) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Revenues [Abstract]
Total revenues	$ 1,548,490	$ 1,540,308
Insurance premium revenues recognized under ASC 944
Revenues [Abstract]
Total revenues	43,148	44,492
Net investment and interest income recognized under other topics
Revenues [Abstract]
Total revenues	37,125	64,592
Revenues recognized under ASC 842
Revenues [Abstract]
Total revenues	1,254,317	1,222,316
Revenues recognized under ASC 606
Revenues [Abstract]
Total revenues	213,900	208,908
Revenues recognized over time:
Revenues [Abstract]
Total revenues	100,175	91,315
Revenues recognized at a point in time:
Revenues [Abstract]
Total revenues	$ 113,725	$ 117,593

Allowance for Credit Losses (Na

Allowance for Credit Losses (Narratives) (Details) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2024 USD ($) Segment	Mar. 31, 2024 USD ($)
Financing Receivable Impaired [Line Items]
Trade receivable components | Segment	2
Percentage of estimated gain loss	5%
Paid and unpaid percentage	1%
Allowance for expected credit losses	$ 8.3	$ 6.2
Available for sale securities, accrued interest receivable	30.4	29.3
Commercial Real Estate Portfolio Segment [Member]
Financing Receivable Impaired [Line Items]
Premiums Receivable Gross	$ 1.1	$ 0.1
Credit card receivables
Financing Receivable Impaired [Line Items]
Average Historical Chargeback Term	For credit card receivables, the Company uses a trailing 13-month average historical chargeback percentage of total credit card receivables to estimate a credit loss reserve. The Company rents equipment to corporate customers for which payment terms are 30 days.
Accrued interest receivables
Financing Receivable Impaired [Line Items]
Average Historical Chargeback Term	Historical credit loss experience provides additional support for the estimation of expected credit losses. In assessing the credit losses, the portfolio is reviewed on a collective basis, using loan-specific cash flows to determine the fair value of the collateral in the event of default. Adjustments to this analysis are made to assess loans with a loan-to-value of 65% or greater.

Allowance for Credit Losses (Re

Allowance for Credit Losses (Reserve Allowance for Various Credit Loss) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024
Valuation And Qualifying Accounts [Abstract]
March 31, 2022	$ 8,105	$ 6,407
Transition adjustment current expected credit losses	3,621	1,698
December 31, 2023	11,726	8,105
Trade Receivables
Valuation And Qualifying Accounts [Abstract]
March 31, 2022	6,236	3,789
Transition adjustment current expected credit losses	2,047	2,447
December 31, 2023	8,283	6,236
Investments, Fixed Maturities
Valuation And Qualifying Accounts [Abstract]
March 31, 2022	1,052	2,101
Transition adjustment current expected credit losses	1,943	1,049
December 31, 2023	2,995	1,052
Investments, Other
Valuation And Qualifying Accounts [Abstract]
March 31, 2022	817	517
Transition adjustment current expected credit losses	369	300
December 31, 2023	$ 448	$ 817

Income Taxes (Narratives) (Deta

Income Taxes (Narratives) (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Income taxes paid, federal	23.80%	24.20%
Income Taxes paid, state and local	21%	21%
Income Taxes Paid, cash	$ 3.6	$ 3.8

Accounting Pronouncements (Adop

Accounting Pronouncements (Adoption Of New Accounting Pronouncement Adjustments To Select Tables) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023
Statements Adjusted [Abstract]
Assets	$ 19,305,427	$ 19,058,758	$ 18,614,034
Liabilities	11,954,986	11,886,313
Stockholders Equity Including Portion Attributable To Noncontrolling Interest	$ 7,350,441	$ 7,172,445	$ 6,777,757	$ 6,504,191

Accounting Pronouncements (Cons

Accounting Pronouncements (Consolidated Balance Sheet Before After Transition Date (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023
Statements Adjusted [Abstract]
Deferred policy acquisition costs, net	$ 119,806	$ 121,224
Assets	19,305,427	19,058,758		$ 18,614,034
Policy benefits and losses, claims and loss expenses payable	841,861	849,113
Deferred Income Tax Liabilities, Net	1,470,156	1,447,125
Total liabilities	11,954,986	11,886,313
Accumulated other comprehensive loss	231,813	223,216
Retained earnings	7,786,683	7,600,090
Stockholders' Equity Attributable to Parent	$ 7,350,441	7,172,445
Liabilities and Equity		$ 19,058,758	$ 19,305,427

Accounting Pronouncements (Effe

Accounting Pronouncements (Effects of Adoption of ASU 2018-12 Balance Sheet) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023
Statements Adjusted [Abstract]
Deferred policy acquisition costs, net	$ 119,806	$ 121,224
Assets	19,305,427	19,058,758		$ 18,614,034
Policy benefits and losses, claims and loss expenses payable	841,861	849,113
Deferred Income Tax Liabilities, Net	1,470,156	1,447,125
Total liabilities	11,954,986	11,886,313
Accumulated other comprehensive loss	(231,813)	(223,216)
Retained earnings	7,786,683	7,600,090
Stockholders' Equity Attributable to Parent	7,350,441	7,172,445
Liabilities and Equity		19,058,758	$ 19,305,427
Operating Segments [Member] | Life Insurance [Member]
Statements Adjusted [Abstract]
Assets	$ 2,957,781	$ 2,990,903

Accounting Pronouncements (Defe

Accounting Pronouncements (Deferred Acquisition Costs) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Liability For Unpaid Claims And Claims Adjustment Expense Net [Abstract]
Adjusted balance, beginning of year April 1, 2021	$ 841,861	$ 878,436

Deferred Policy Acquisition C_3

Deferred Policy Acquisition Costs, Net (Schedule of Deferred Policy Acquisition Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Movement Analysis Of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of year	$ 121,224	$ 128,463
Capitalization	3,228	3,178
Amortization expense	(4,646)	(5,518)
Other, including experience		2,527
Balance, end of year	119,806	123,596
Payout Annuities
Movement Analysis Of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of year	54,747	55,396
Capitalization	2,318	1,951
Amortization expense	(2,187)	(3,384)
Other, including experience		1,632
Balance, end of year	54,878	52,331
Life Insurance
Movement Analysis Of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of year	62,426	66,954
Capitalization	876	1,166
Amortization expense	(2,200)	(1,944)
Other, including experience		327
Balance, end of year	61,102	65,849
Health Insurance
Movement Analysis Of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of year	4,051	6,113
Capitalization	34	61
Amortization expense	(259)	(190)
Other, including experience		568
Balance, end of year	$ 3,826	$ 5,416

Life Insurance Liabilities (Pre

Life Insurance Liabilities (Present Value Expected Net Premiums) (Details) - Life Insurance Segment [Member] - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024	Mar. 31, 2023
Liability For Future Policy Benefit Expected Net Premium [Roll Forward]
Balance, beginning of the year	$ 205,389	$ 223,118
Beginning balance at original discount rate	204,306	225,071
Effect of actual variances from expected variances			$ 367	$ 246
Adjust beginning of year balance			$ 203,939	$ 225,317
Issuances	2,002	2,353
Interest accrual	2,493	2,574
Net premium collected	9,221	9,769
Ending balance at original discount rate	199,213	220,475
Effect of changes in discount rate assumptions (AOCI)	2,480	2,166
Balance, end of period	$ 196,733	$ 222,641

Life Insurance Liabilities (P_2

Life Insurance Liabilities (Present Value Expected Future Policy Benefits) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024	Mar. 31, 2023
Liability For Future Policy Benefit Expected Future Policy Benefit [Roll Forward]
Liability For Claims And Claims Adjustment Expense	$ 841,861	$ 878,436
Oxford | Life Insurance [Member]
Liability For Future Policy Benefit Expected Future Policy Benefit [Roll Forward]
Liability For Claims And Claims Adjustment Expense	384,875	401,467
Moving and Storage Consolidations [Member]
Liability For Future Policy Benefit Expected Future Policy Benefit [Roll Forward]
Liability For Claims And Claims Adjustment Expense	327,497	328,009
Property and Casualty Insurance [Member]
Liability For Future Policy Benefit Expected Future Policy Benefit [Roll Forward]
Liability For Claims And Claims Adjustment Expense	129,489	148,960
Life Insurance Segment [Member]
Liability For Future Policy Benefit Expected Future Policy Benefit [Roll Forward]
Balance, beginning of year	522,122	530,983
Beginning balance at original discount rate	514,113	533,688
Effect of actual variances from expected experience			$ 464	$ 355
Adjusted beginning of year balance			$ 513,649	$ 534,043
Issuances	2,002	2,398
Interest accrual	6,279	6,534
Net premium collected	14,142	14,311
Ending balance at original discount rate	507,788	528,664
Effect of changes in discount rate assumptions (AOCI)	4,331	10,786
Balance, end of the year	503,457	539,450
End of period, LFPB, net	306,724	316,809
Payout annuities and market risk benefits
Liability For Future Policy Benefit Expected Future Policy Benefit [Roll Forward]
Liability For Future Policy Benefits	24,569	31,375
Health Insurance Product Line [Member]
Liability For Future Policy Benefit Expected Future Policy Benefit [Roll Forward]
Liability For Future Policy Benefits	13,189	14,178
Life and annuity claims in course of settlement and claims incurred but not yet reported / Reinsurance losses payable
Liability For Future Policy Benefit Expected Future Policy Benefit [Roll Forward]
Liability For Future Policy Benefits	30,916	28,910
Life DPL / Other life and health
Liability For Future Policy Benefit Expected Future Policy Benefit [Roll Forward]
Liability For Future Policy Benefits	9,408	$ 10,195
LFPB flooring effect
Liability For Future Policy Benefit Expected Future Policy Benefit [Roll Forward]
Liability For Future Policy Benefits	$ 69

Life Insurance Liabilities (Sen

Life Insurance Liabilities (Sensitive Life Insurance Type Products) (Details) - USD ($)	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Liability for Future Policy Benefit, after Reinsurance [Abstract]
Interest expense	$ 67,218,000	$ 60,598,000
Life Insurance Segment [Member] | Oxford
Liability for Future Policy Benefit, after Reinsurance [Abstract]
Gross premiums	12,538,000	13,414,000
Interest expense	$ 3,786,000	$ 3,960,000
Expected future lifetime (persistency) of policies in force (years)	6 years 9 months 18 days	8 years 2 months 12 days
Weighted average original interest rate of the liability for future policy benefits	4.98%	5.23%
Weighted average current interest rate of the liability for future policy benefits	4.97%	4.87%
Life Insurance Segment [Member] | Oxford | Expected gross premiums:
Liability for Future Policy Benefit, after Reinsurance [Abstract]
Undiscounted balance	$ 358,097,000	$ 395,641,000
Discounted balance at original discount rate	278,118,000	305,166,000
Discounted balance at current discount rate	274,345,000	307,763,000
Life Insurance Segment [Member] | Oxford | Expected policy benefits:
Liability for Future Policy Benefit, after Reinsurance [Abstract]
Undiscounted balance	732,006,000	770,210,000
Discounted balance at original discount rate	507,787,000	528,663,000
Discounted balance at current discount rate	$ 503,456,000	$ 539,449,000
Life Insurance Segment [Member] | Oxford | Lapses actual experience
Liability for Future Policy Benefit, after Reinsurance [Abstract]
Market Risk Benefit Measurement Input	0.0549	0.0529
Life Insurance Segment [Member] | Oxford | Mortality expected experience
Liability for Future Policy Benefit, after Reinsurance [Abstract]
Market Risk Benefit Measurement Input	0.0535	0.0493
Life Insurance Segment [Member] | Oxford | Lapses actual experience
Liability for Future Policy Benefit, after Reinsurance [Abstract]
Market Risk Benefit Measurement Input	0.0192	0.0171
Life Insurance Segment [Member] | Oxford | Lapses expected experience
Liability for Future Policy Benefit, after Reinsurance [Abstract]
Market Risk Benefit Measurement Input	0.0273	0.0264

Life Insurance Liabilities (Bal

Life Insurance Liabilities (Balance Changes Liabilities Investment Contracts) (Details) - Deferred Fixed Annuity [Member] - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Policyholder Account Balance [Roll Forward]
Policyholder contract deposits account balance Beginning of year	$ 2,411,352	$ 2,398,884
Deposits received	76,417	43,944
Surrenders and withdrawals	(94,440)	(64,445)
Benefit payments	(12,745)	(10,813)
Interest credited	19,507	16,760
End of period	$ 2,406,464	$ 2,384,330
Weighted average credited rate	3.27%	2.79%
Cash surrender value	$ 2,084,896	$ 2,069,292