Contingent Liabilities and Commitments

3 Months Ended

Sep. 30, 2011

Commitments and Contingencies Disclosure [Abstract]

8. Contingent Liabilities and Commitments

The Company leases a portion of its rental equipment and certain of its facilities under operating leases with terms that expire at various dates substantially through 2018, with the exception of one land lease expiring in 2034. As of September 30, 2011, AMERCO has guaranteed $143.1 million of residual values for these rental equipment assets at the end of the respective lease terms. Certain leases contain renewal and fair market value purchase options as well as mileage and other restrictions. At the expiration of the lease, the Company has the option to renew the lease, purchase the asset for fair market value, or sell the asset to a third party on behalf of the lessor. AMERCO has been leasing equipment since 1987 and has experienced no material losses relating to these types of residual value guarantees.

Lease commitments for leases having terms of more than one year were as follows:

	Property, Plant and Equipment		Rental Equipment		Total
	(Unaudited)
			(In thousands)
Year-ended September 30:
2012	$	14,584	$	102,047	$	116,631
2013		13,459		82,465		95,924
2014		8,847		63,315		72,162
2015		676		39,926		40,602
2016		550		9,707		10,257
Thereafter		5,139		4,022		9,161
Total	$	43,255	$	301,482	$	344,737