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Consolidated Statement of Operations by Segment (Table Text Block)
 9 Months Ended
Dec. 31, 2012
Table Text Block Supplement [Abstract]  
Consolidated statement of operations by industry segment
Consolidating statement of operations by industry segment for the quarter ended December 31, 2012 are as follows:
 
 
Moving & Storage
 
 
 
 
AMERCO Legal Group
 
 
 
 
 
AMERCO
 
U-Haul
 
Real Estate
 
Eliminations
 
 
Moving & Storage
Consolidated
 
Property & Casualty Insurance (a)
 
Life
Insurance (a)
 
Eliminations
 
 
AMERCO
Consolidated
 
 
(Unaudited)
 
 
(In thousands)
Revenues:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Self-moving equipment rentals
$
-
$
395,401
$
-
$
-
 
$
395,401
$
-
$
-
$
(456
 )
$
394,945
Self-storage revenues
 
-
 
38,813
 
298
 
-
 
 
39,111
 
-
 
-
 
-
 
 
39,111
Self-moving and self-storage products and service sales
 
-
 
44,491
 
-
 
-
 
 
44,491
 
-
 
-
 
-
 
 
44,491
Property management fees
 
-
 
6,085
 
-
 
-
 
 
6,085
 
-
 
-
 
-
 
 
6,085
Life insurance premiums
 
-
 
-
 
-
 
-
 
 
-
 
-
 
43,248
 
-
 
 
43,248
Property and casualty insurance premiums
 
-
 
-
 
-
 
-
 
 
-
 
9,816
 
-
 
-
 
 
9,816
Net investment and interest income
 
1,338
 
2,260
 
4,405
 
-
 
 
8,003
 
2,049
 
8,990
 
(115
 )
 
18,927
Other revenue
 
-
 
23,255
 
22,605
 
(24,145
 )
 
21,715
 
-
 
852
 
(379
 )
 
22,188
Total revenues
 
1,338
 
510,305
 
27,308
 
(24,145
 )
 
514,806
 
11,865
 
53,090
 
(950
 )
 
578,811
Costs and expenses:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating expenses
 
2,684
 
295,759
 
3,424
 
(24,145
 )
 
277,722
 
6,937
 
6,452
 
(826
 )
 
290,285
Commission expenses
 
-
 
51,130
 
-
 
-
 
 
51,130
 
-
 
-
 
-
 
 
51,130
Cost of sales
 
-
 
23,153
 
-
 
-
 
 
23,153
 
-
 
-
 
-
 
 
23,153
Benefits and losses
 
-
 
-
 
-
 
-
 
 
-
 
2,866
 
36,066
 
-
 
 
38,932
Amortization of deferred policy acquisition costs
 
-
 
-
 
-
 
-
 
 
-
 
-
 
3,391
 
-
 
 
3,391
Lease expense
 
24
 
27,594
 
3
 
-
 
 
27,621
 
-
 
-
 
(46
 )
 
27,575
Depreciation, net of (gains) losses on disposals
 
1
 
60,129
 
2,269
 
-
 
 
62,399
 
-
 
-
 
-
 
 
62,399
Total costs and expenses
 
2,709
 
457,765
 
5,696
 
(24,145
 )
 
442,025
 
9,803
 
45,909
 
(872
 )
 
496,865
Earnings (loss) from operations before equity in earnings of subsidiaries
 
(1,371
 )
52,540
 
21,612
 
-
 
 
72,781
 
2,062
 
7,181
 
(78
 )
 
81,946
Equity in earnings of subsidiaries
 
24,435
 
-
 
-
 
(18,790
 )
 
5,645
 
-
 
-
 
(5,645
 )
 
-
Earnings from operations
 
23,064
 
52,540
 
21,612
 
(18,790
 )
 
78,426
 
2,062
 
7,181
 
(5,723
 )
 
81,946
Interest income (expense)
 
21,387
 
(28,837
 )
(14,704
 )
-
 
 
(22,154
 )
-
 
-
 
78
(b)
 
(22,076
)
Pretax earnings
 
44,451
 
23,703
 
6,908
 
(18,790
 )
 
56,272
 
2,062
 
7,181
 
(5,645
 )
 
59,870
Income tax expense
 
(7,605
 )
(9,174
 )
(2,647
 )
-
 
 
(19,426
 )
(722
 )
(2,876
 )
-
 
 
(23,024
)
Earnings available to common shareholders
$
36,846
$
14,529
$
4,261
$
(18,790
 )
$
36,846
$
1,340
$
4,305
$
(5,645
 )
$
36,846
(a) Balances for the quarter ended September 30, 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(b) Eliminate intercompany lease / interest income
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(c) Eliminate intercompany premiums
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(d) Eliminate equity in earnings of subsidiaries
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Consolidating statements of operations by industry for the quarter ended December 31, 2011 are as follows:
 
 
Moving & Storage
 
 
 
 
AMERCO Legal Group
 
 
 
 
 
AMERCO
 
U-Haul
 
Real Estate
 
Eliminations
 
 
Moving & Storage
Consolidated
 
Property & Casualty Insurance (a)
 
Life
Insurance (a)
 
Eliminations
 
 
AMERCO
Consolidated
 
 
(Unaudited)
 
 
(In thousands)
Revenues:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Self-moving equipment rentals
$
-
$
376,271
$
-
$
-
 
$
376,271
$
-
$
-
$
(527
 )
$
375,744
Self-storage revenues
 
-
 
33,523
 
323
 
-
 
 
33,846
 
-
 
-
 
-
 
 
33,846
Self-moving and self-storage products and service sales
 
-
 
43,206
 
-
 
-
 
 
43,206
 
-
 
-
 
-
 
 
43,206
Property management fees
 
-
 
5,368
 
-
 
-
 
 
5,368
 
-
 
-
 
-
 
 
5,368
Life insurance premiums
 
-
 
-
 
-
 
-
 
 
-
 
-
 
132,643
 
-
 
 
132,643
Property and casualty insurance premiums
 
-
 
-
 
-
 
-
 
 
-
 
9,429
 
-
 
-
 
 
9,429
Net investment and interest income
 
1,317
 
5,166
 
296
 
-
 
 
6,779
 
2,237
 
6,593
 
(375
 )
 
15,234
Other revenue
 
-
 
19,063
 
20,144
 
(21,611
 )
 
17,596
 
-
 
407
 
(384
 )
 
17,619
Total revenues
 
1,317
 
482,597
 
20,763
 
(21,611
 )
 
483,066
 
11,666
 
139,643
 
(1,286
 )
 
633,089
Costs and expenses:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating expenses
 
2,176
 
277,229
 
2,231
 
(21,611
 )
 
260,025
 
3,477
 
7,263
 
(931
 )
 
269,834
Commission expenses
 
-
 
47,864
 
-
 
-
 
 
47,864
 
-
 
-
 
-
 
 
47,864
Cost of sales
 
-
 
24,505
 
-
 
-
 
 
24,505
 
-
 
-
 
-
 
 
24,505
Benefits and losses
 
-
 
-
 
-
 
-
 
 
-
 
51,633
 
122,115
 
-
 
 
173,748
Amortization of deferred policy acquisition costs
 
-
 
-
 
-
 
-
 
 
-
 
-
 
3,666
 
-
 
 
3,666
Lease expense
 
26
 
32,601
 
5
 
-
 
 
32,632
 
-
 
-
 
(307
 )
 
32,325
Depreciation, net of (gains) losses on disposals
 
1
 
52,846
 
3,427
 
-
 
 
56,274
 
-
 
-
 
-
 
 
56,274
Total costs and expenses
 
2,203
 
435,045
 
5,663
 
(21,611
 )
 
421,300
 
55,110
 
133,044
 
(1,238
 )
 
608,216
Earnings (loss) from operations before equity in earnings of subsidiaries
 
(886
 )
47,552
 
15,100
 
-
 
 
61,766
 
(43,444
 )
6,599
 
(48
 )
 
24,873
Equity in earnings of subsidiaries
 
(12,577
 )
-
 
-
 
(11,376
 )
 
(23,953
 )
-
 
-
 
23,953
(d)
 
-
Earnings (loss) from operations
 
(13,463
 )
47,552
 
15,100
 
(11,376
 )
 
37,813
 
(43,444
 )
6,599
 
23,905
 
 
24,873
Interest income (expense)
 
22,345
 
(32,214
 )
(12,923
 )
-
 
 
(22,792
 )
-
 
-
 
48
(b)
 
(22,744
)
Pretax earnings (loss)
 
8,882
 
15,338
 
2,177
 
(11,376
 )
 
15,021
 
(43,444
 )
6,599
 
23,953
 
 
2,129
Income tax benefit (expense)
 
(8,154
 )
(5,156
 )
(983
 )
-
 
 
(14,293
 )
15,206
 
(2,314
 )
-
 
 
(1,401
)
Earnings (loss) available to common shareholders
$
728
$
10,182
$
1,194
$
(11,376
 )
$
728
$
(28,238
 )
4,285
$
23,953
 
$
728
(a) Balances for the quarter ended September 30, 2011
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(b) Eliminate intercompany lease / interest income
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(c) Eliminate intercompany premiums
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(d) Eliminate equity in earnings of subsidiaries
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Consolidating statements of operations by industry for the nine months ended December 31, 2012 are as follows:
 
 
Moving & Storage
 
 
 
 
AMERCO Legal Group
 
 
 
 
 
AMERCO
 
U-Haul
 
Real Estate
 
Eliminations
 
 
Moving & Storage
Consolidated
 
Property & Casualty Insurance (a)
 
Life
Insurance (a)
 
Eliminations
 
 
AMERCO
Consolidated
 
 
(Unaudited)
 
 
(In thousands)
Revenues:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Self-moving equipment rentals
$
-
$
1,401,483
$
-
$
-
 
$
1,401,483
$
-
$
-
$
(1,183
 )
$
1,400,300
Self-storage revenues
 
-
 
110,963
 
862
 
-
 
 
111,825
 
-
 
-
 
-
 
 
111,825
Self-moving and self-storage products and service sales
 
-
 
173,399
 
-
 
-
 
 
173,399
 
-
 
-
 
-
 
 
173,399
Property management fees
 
-
 
15,847
 
-
 
-
 
 
15,847
 
-
 
-
 
-
 
 
15,847
Life insurance premiums
 
-
 
-
 
-
 
-
 
 
-
 
-
 
137,341
 
-
 
 
137,341
Property and casualty insurance premiums
 
-
 
-
 
-
 
-
 
 
-
 
26,006
 
-
 
-
 
 
26,006
Net investment and interest income
 
3,930
 
6,265
 
4,843
 
-
 
 
15,038
 
6,515
 
22,999
 
(315
 )
 
44,237
Other revenue
 
81
 
80,311
 
65,306
 
(70,066
 )
 
75,632
 
-
 
2,056
 
(1,099
 )
 
76,589
Total revenues
 
4,011
 
1,788,268
 
71,011
 
(70,066
 )
 
1,793,224
 
32,521
 
162,396
 
(2,597
 )
 
1,985,544
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Costs and expenses:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating expenses
 
11,431
 
901,337
 
8,300
 
(70,066
 )
 
851,002
 
14,709
 
20,438
 
(2,257
 )
 
883,892
Commission expenses
 
-
 
180,801
 
-
 
-
 
 
180,801
 
-
 
-
 
-
 
 
180,801
Cost of sales
 
-
 
86,292
 
-
 
-
 
 
86,292
 
-
 
-
 
-
 
 
86,292
Benefits and losses
 
-
 
-
 
-
 
-
 
 
-
 
10,821
 
119,861
 
-
 
 
130,682
Amortization of deferred policy acquisition costs
 
-
 
-
 
-
 
-
 
 
-
 
-
 
9,290
 
-
 
 
9,290
Lease expense
 
70
 
90,000
 
14
 
-
 
 
90,084
 
-
 
-
 
(122
 )
 
89,962
Depreciation, net of (gains) losses on disposals
 
4
 
168,009
 
9,465
 
-
 
 
177,478
 
-
 
-
 
-
 
 
177,478
Total costs and expenses
 
11,505
 
1,426,439
 
17,779
 
(70,066
 )
 
1,385,657
 
25,530
 
149,589
 
(2,379
 )
 
1,558,397
Earnings (loss) from operations before equity in earnings of subsidiaries
 
(7,494
 )
361,829
 
53,232
 
-
 
 
407,567
 
6,991
 
12,807
 
(218
 )
 
427,147
Equity in earnings of subsidiaries
 
188,559
 
-
 
-
 
(175,647
 )
 
12,912
 
-
 
-
 
(12,912
 )
 
-
Earnings from operations
 
181,065
 
361,829
 
53,232
 
(175,647
 )
 
420,479
 
6,991
 
12,807
 
(13,130
 )
 
427,147
Interest income (expense)
 
69,228
 
(93,956
 )
(43,170
 )
-
 
 
(67,898
 )
-
 
-
 
218
(b)
 
(67,680
)
Pretax earnings
 
250,293
 
267,873
 
10,062
 
(175,647
 )
 
352,581
 
6,991
 
12,807
 
(12,912
 )
 
359,467
Income tax expense
 
(23,458
 )
(98,431
 )
(3,857
 )
-
 
 
(125,746
 )
(2,447
 )
(4,439
 )
-
 
 
(132,632
)
Earnings available to common shareholders
$
226,835
$
169,442
$
6,205
$
(175,647
 )
$
226,835
$
4,544
$
8,368
$
(12,912
 )
$
226,835
(a) Balances for the nine months ended September 30, 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(b) Eliminate intercompany lease / interest income
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(c) Eliminate intercompany premiums
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(d) Eliminate equity in earnings of subsidiaries
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Consolidating statements of operations by industry for the nine months ended December 31, 2011 are as follows:
 
 
Moving & Storage
 
 
 
 
AMERCO Legal Group
 
 
 
 
 
AMERCO
 
U-Haul
 
Real Estate
 
Eliminations
 
 
Moving & Storage
Consolidated
 
Property & Casualty Insurance (a)
 
Life
Insurance (a)
 
Eliminations
 
 
AMERCO
Consolidated
 
 
(Unaudited)
 
 
(In thousands)
Revenues:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Self-moving equipment rentals
$
-
$
1,335,229
$
-
$
-
 
$
1,335,229
$
-
$
-
$
(1,311
 )
$
1,333,918
Self-storage revenues
 
-
 
98,745
 
937
 
-
 
 
99,682
 
-
 
-
 
-
 
 
99,682
Self-moving and self-storage products and service sales
 
-
 
167,352
 
-
 
-
 
 
167,352
 
-
 
-
 
-
 
 
167,352
Property management fees
 
-
 
14,929
 
-
 
-
 
 
14,929
 
-
 
-
 
-
 
 
14,929
Life insurance premiums
 
-
 
-
 
-
 
-
 
 
-
 
-
 
229,839
 
-
 
 
229,839
Property and casualty insurance premiums
 
-
 
-
 
-
 
-
 
 
-
 
25,076
 
-
 
-
 
 
25,076
Net investment and interest income
 
4,585
 
15,476
 
556
 
-
 
 
20,617
 
7,395
 
21,793
 
(1,407
 )
 
48,398
Other revenue
 
-
 
64,111
 
59,785
 
(64,022
 )
 
59,874
 
-
 
1,202
 
(1,035
 )
 
60,041
Total revenues
 
4,585
 
1,695,842
 
61,278
 
(64,022
 )
 
1,697,683
 
32,471
 
252,834
 
(3,753
 )
 
1,979,235
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Costs and expenses:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Operating expenses
 
6,766
 
857,438
 
6,949
 
(64,022
 )
 
807,131
 
9,871
 
21,496
 
(2,349
 )
 
836,149
Commission expenses
 
-
 
168,865
 
-
 
-
 
 
168,865
 
-
 
-
 
-
 
 
168,865
Cost of sales
 
-
 
89,729
 
-
 
-
 
 
89,729
 
-
 
-
 
-
 
 
89,729
Benefits and losses
 
-
 
-
 
-
 
-
 
 
-
 
61,948
 
206,192
 
-
 
 
268,140
Amortization of deferred policy acquisition costs
 
-
 
-
 
-
 
-
 
 
-
 
-
 
10,716
 
-
 
 
10,716
Lease expense
 
69
 
100,102
 
19
 
-
 
 
100,190
 
-
 
-
 
(919
 )
 
99,271
Depreciation, net of (gains) losses on disposals
 
4
 
138,867
 
9,825
 
-
 
 
148,696
 
-
 
-
 
-
 
 
148,696
Total costs and expenses
 
6,839
 
1,355,001
 
16,793
 
(64,022
 )
 
1,314,611
 
71,819
 
238,404
 
(3,268
 )
 
1,621,566
Earnings (loss) from operations before equity in earnings of subsidiaries
 
(2,254
 )
340,841
 
44,485
 
-
 
 
383,072
 
(39,348
 )
14,430
 
(485
 )
 
357,669
Equity in earnings of subsidiaries
 
137,959
 
-
 
-
 
(154,121
 )
 
(16,162
 )
-
 
-
 
16,162
(d)
 
-
Earnings (loss) from operations
 
135,705
 
340,841
 
44,485
 
(154,121
 )
 
366,910
 
(39,348
 )
14,430
 
15,677
 
 
357,669
Interest income (expense)
 
70,528
 
(100,627
 )
(38,398
 )
-
 
 
(68,497
 )
-
 
-
 
157
(b)
 
(68,340
)
Pretax earnings (loss)
 
206,233
 
240,214
 
6,087
 
(154,121
 )
 
298,413
 
(39,348
 )
14,430
 
15,834
 
 
289,329
Income tax benefit (expense)
 
(25,943
 )
(89,402
 )
(2,778
 )
-
 
 
(118,123
 )
13,772
 
(5,016
 )
-
 
 
(109,367
)
Net earnings (loss)
 
180,290
 
150,812
 
3,309
 
(154,121
 )
 
180,290
 
(25,576
 )
9,414
 
15,834
 
 
179,962
Less: Excess of redemption value over carrying value of preferred shares redeemed
 
(5,908
 )
-
 
-
 
-
 
 
(5,908
 )
-
 
-
 
-
 
 
(5,908
)
Less: Preferred stock dividends
 
(3,241
 )
-
 
-
 
-
 
 
(3,241
 )
-
 
-
 
328
(e)
 
(2,913
)
Earnings (loss) available to common shareholders
$
171,141
$
150,812
$
3,309
$
(154,121
 )
$
171,141
$
(25,576
 )
9,414
$
16,162
 
$
171,141
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a) Balances for the nine months ended September 30, 2011
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(b) Eliminate intercompany lease / interest income
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(c) Eliminate intercompany premiums
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(d) Eliminate equity in earnings of subsidiaries
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(e) Eliminate preferred stock dividends paid to affiliate