XML 43 R32.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidating Financial Information By Industry Segment (Table Text Block)
3 Months Ended 9 Months Ended 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2021
Dec. 31, 2020
Mar. 31, 2021
Table Text Block Supplement [Abstract]          
Consolidated Balance Sheet by Industry Segment         Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Eliminations     AMERCO Consolidated     (Unaudited)     (In thousands) Assets:   Cash and cash equivalents $ 2,254,215 $ 8,065 $ 65,182 $ –   $ 2,327,462 Reinsurance recoverables and trade receivables, net   127,753   65,502   37,182   –     230,437 Inventories and parts, net   166,588   –   –   –     166,588 Prepaid expenses   211,449   –   –   –     211,449 Investments, fixed maturities and marketable equities   –   285,212   2,510,230   –     2,795,442 Investments, other   20,766   118,936   462,669   –     602,371 Deferred policy acquisition costs, net   –   –   101,770   –     101,770 Other assets   37,916   575   2,655   –     41,146 Right of use assets - financing, net   692,814   –   –   –     692,814 Right of use assets - operating, net   79,211   123   116   –     79,450 Related party assets   71,882   7,674   14,289   (37,614) (c)   56,231     3,662,594   486,087   3,194,093   (37,614)     7,305,160                         Investment in subsidiaries   736,500   –   –   (736,500) (b)   –                         Property, plant and equipment, at cost:                       Land   1,264,742   –   –   –     1,264,742 Buildings and improvements   5,726,481   –   –   –     5,726,481 Furniture and equipment   841,957   –   –   –     841,957 Rental trailers and other rental equipment   569,150   –   –   –     569,150 Rental trucks   4,425,113   –   –   –     4,425,113     12,827,443   –   –   –     12,827,443 Less:   Accumulated depreciation   (3,544,525)   –   –   –     (3,544,525) Total property, plant and equipment, net   9,282,918   –   –   –     9,282,918 Total assets $ 13,682,012 $ 486,087 $ 3,194,093 $ (774,114)   $ 16,588,078                         (a) Balances as of September 30, 2021                       (b) Eliminate investment in subsidiaries                       (c) Eliminate intercompany receivables and payables                         Consolidating balance sheets by industry segment as of December 31, 2021, continued:     Moving & Storage   Property & Casualty Insurance (a)   Life   Eliminations     AMERCO     (Unaudited)     (In thousands) Liabilities:                       Accounts payable and accrued expenses $ 625,504 $ 3,687 $ 5,604 $ –   $ 634,795 Notes, loans and finance leases payable, net   5,397,856   –   –   –     5,397,856 Operating lease liability   79,086   124   124   –     79,334 Policy benefits and losses, claims and loss expenses payable   428,029   176,955   398,911   –     1,003,895 Liabilities from investment contracts   –   –   2,302,591   –     2,302,591 Other policyholders' funds and liabilities   –   3,759   5,851   –     9,610 Deferred income   43,352   –   –   –     43,352 Deferred income taxes, net   1,271,449   12,702   17,078   –     1,301,229 Related party liabilities   25,145   3,414   12,880   (41,439) (c)   – Total liabilities   7,870,421   200,641   2,743,039   (41,439)     10,772,662                         Stockholders' equity:                       Series preferred stock:                       Series A preferred stock   –   –   –   –     – Series B preferred stock   –   –   –   –     – Series A common stock   –   –   –   –     – Common stock   10,497   3,301   2,500   (5,801) (b)   10,497 Additional paid-in capital   454,029   91,120   26,271   (117,601) (b)   453,819 Accumulated other comprehensive income (loss)   59,439   18,405   101,787   (116,367) (b)   63,264 Retained earnings   5,965,276   172,620   320,496   (492,906) (b)   5,965,486 Cost of common stock in treasury, net   (525,653)   –   –   –     (525,653) Cost of preferred stock in treasury, net   (151,997)   –   –   –     (151,997) Total stockholders' equity   5,811,591   285,446   451,054   (732,675)     5,815,416 Total liabilities and stockholders' equity $ 13,682,012 $ 486,087 $ 3,194,093 $ (774,114)   $ 16,588,078                         (a) Balances as of September 30, 2021                       (b) Eliminate investment in subsidiaries                       (c) Eliminate intercompany receivables and payables                  Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Eliminations     AMERCO Consolidated       Assets:   (In thousands) Cash and cash equivalents $   1,010,275 $   5,658 $   178,079 $   –   $   1,194,012 Reinsurance recoverables and trade receivables, net   118,741   67,069   38,616   –     224,426 Inventories and parts, net   105,577   –   –   –     105,577 Prepaid expenses   469,144   –   –   –     469,144 Investments, fixed maturities and marketable equities   –   295,753   2,399,903   –     2,695,656 Investments, other   20,733   90,412   378,614   –     489,759 Deferred policy acquisition costs, net   –   –   89,749   –     89,749 Other assets   44,763   436   2,531   –     47,730 Right of use assets - financing, net   877,038   –   –   –     877,038 Right of use assets - operating, net   92,245   92   168   –     92,505 Related party assets   54,042   6,854   13,850   (39,351) (c)   35,395     2,792,558   466,274   3,101,510   (39,351)     6,320,991                         Investment in subsidiaries   741,860   –   –   (741,860) (b)   –                         Property, plant and equipment, at cost:                       Land   1,075,813   –   –   –     1,075,813 Buildings and improvements   5,163,705   –   –   –     5,163,705 Furniture and equipment   786,505   –   –   –     786,505 Rental trailers and other rental equipment   477,921   –   –   –     477,921 Rental trucks   3,909,724   –   –   –     3,909,724     11,413,668   –   –   –     11,413,668 Less:   Accumulated depreciation   (3,083,053)   –   –   –     (3,083,053) Total property, plant and equipment, net   8,330,615   –   –   –     8,330,615 Total assets $   11,865,033 $   466,274 $   3,101,510 $   (781,211)   $   14,651,606                         (a) Balances as of December 31, 2020                       (b) Eliminate investment in subsidiaries                       (c) Eliminate intercompany receivables and payables                         Consolidating balance sheets by industry segment as of March 31, 2021, continued:     Moving & Storage   Property & Casualty Insurance (a)   Life   Eliminations     AMERCO                             (In thousands) Liabilities:                       Accounts payable and accrued expenses $ 636,257 $ 2,029 $ 7,289 $ –   $ 645,575 Notes, loans and finance leases payable, net   4,657,720   –   11,187   –     4,668,907 Operating lease liability   92,236   96   178   –     92,510 Policy benefits and losses, claims and loss expenses payable   427,073   178,942   391,686   –     997,701 Liabilities from investment contracts   –   –   2,161,530   –     2,161,530 Other policyholders' funds and liabilities   –   3,698   8,722   –     12,420 Deferred income   42,592   –   –   –     42,592 Deferred income taxes, net   1,136,149   13,046   29,294   –     1,178,489 Related party liabilities   25,413   5,821   12,406   (43,640) (c)   – Total liabilities   7,017,440   203,632   2,622,292   (43,640)     9,799,724                         Stockholders' equity:                       Series preferred stock:                       Series A preferred stock   –   –   –   –     – Series B preferred stock   –   –   –   –     – Series A common stock   –   –   –   –     – Common stock   10,497   3,301   2,500   (5,801) (b)   10,497 Additional paid-in capital   454,029   91,120   26,271   (117,601) (b)   453,819 Accumulated other comprehensive income (loss)   102,568   22,546   140,817   (159,074) (b)   106,857 Retained earnings   4,958,149   145,675   309,630   (455,095) (b)   4,958,359 Cost of common stock in treasury, net   (525,653)   –   –   –     (525,653) Cost of preferred stock in treasury, net   (151,997)   –   –   –     (151,997) Total stockholders' equity   4,847,593   262,642   479,218   (737,571)     4,851,882 Total liabilities and stockholders' equity $ 11,865,033 $ 466,274 $ 3,101,510 $ (781,211)   $ 14,651,606                         (a) Balances as of December 31, 2020                       (b) Eliminate investment in subsidiaries                       (c) Eliminate intercompany receivables and payables           
Consolidated Statement of Operations by Industry Segment     Moving & Storage   Property & Casualty Insurance (a)   Life   Eliminations     AMERCO     (Unaudited)     (In thousands) Revenues:                       Self-moving equipment rentals $ 977,052 $ – $ – $ (1,500) (c) $ 975,552 Self-storage revenues   159,424   –   –   –     159,424 Self-moving and self-storage products and service sales   75,402   –   –   –     75,402 Property management fees   9,651   –   –   –     9,651 Life insurance premiums   –   –   27,010   –     27,010 Property and casualty insurance premiums   –   26,477   –   (859) (c)   25,618 Net investment and interest income   666   3,343   28,182   (1,007) (b)   31,184 Other revenue   99,385   –   1,225   (115) (b)   100,495 Total revenues   1,321,580   29,820   56,417   (3,481)     1,404,336                         Costs and expenses:                       Operating expenses   642,900   12,198   5,465   (2,468) (b,c)   658,095 Commission expenses   105,155   –   –   –     105,155 Cost of sales   57,042   –   –   –     57,042 Benefits and losses   –   7,892   39,374   –     47,266 Amortization of deferred policy acquisition costs   –   –   7,947   –     7,947 Lease expense   7,917   73   28   (624) (b)   7,394 Depreciation, net of gains on disposal   103,736   –   –   –     103,736 Net losses on disposal of real estate   977   –   –   –     977 Total costs and expenses   917,727   20,163   52,814   (3,092)     987,612                         Earnings from operations before equity in earnings of subsidiaries   403,853   9,657   3,603   (389)     416,724                         Equity in earnings of subsidiaries   10,403   –   –   (10,403) (d)   –                         Earnings from operations   414,256   9,657   3,603   (10,792)     416,724 Other components of net periodic benefit costs   (280)   –   –   –     (280) Interest expense   (44,311)   –   (120)   389 (b)   (44,042) Fees on early extinguishment of debt   (956)   –   –   –     (956) Pretax earnings   368,709   9,657   3,483   (10,403)     371,446 Income tax expense   (87,243)   (2,027)   (710)   –     (89,980) Earnings available to common stockholders $ 281,466 $ 7,630 $ 2,773 $ (10,403)   $ 281,466                         (a) Balances for the quarter ended September 30, 2021                       (b) Eliminate intercompany lease / interest income                       (c) Eliminate intercompany premiums                       (d) Eliminate equity in earnings of subsidiaries                 Moving & Storage   Property & Casualty Insurance (a)   Life   Eliminations     AMERCO     (Unaudited)     (In thousands) Revenues:                       Self-moving equipment rentals $ 809,371 $ – $ – $ (1,156) (c) $ 808,215 Self-storage revenues   123,024   –   –   –     123,024 Self-moving and self-storage products and service sales   74,586   –   –   –     74,586 Property management fees   8,765   –   –   –     8,765 Life insurance premiums   –   –   29,993   –     29,993 Property and casualty insurance premiums   –   20,706   –   (773) (c)   19,933 Net investment and interest income   524   5,934   30,092   (970) (b)   35,580 Other revenue   69,011   –   992   (117) (b)   69,886 Total revenues   1,085,281   26,640   61,077   (3,016)     1,169,982                         Costs and expenses:                       Operating expenses   526,884   10,072   5,027   (2,041) (b,c)   539,942 Commission expenses   86,891   –   –   –     86,891 Cost of sales   45,752   –   –   –     45,752 Benefits and losses   –   4,908   40,723   –     45,631 Amortization of deferred policy acquisition costs   –   –   6,572   –     6,572 Lease expense   8,024   169   31   (702) (b)   7,522 Depreciation, net of gains on disposal   152,602   –   –   –     152,602 Net losses on disposal of real estate   1,124   –   –   –     1,124 Total costs and expenses   821,277   15,149   52,353   (2,743)     886,036                         Earnings from operations before equity in earnings of subsidiaries   264,004   11,491   8,724   (273)     283,946                         Equity in earnings of subsidiaries   16,117   –   –   (16,117) (d)   –                         Earnings from operations   280,121   11,491   8,724   (16,390)     283,946 Other components of net periodic benefit costs   (247)   –   –   –     (247) Interest expense   (42,401)   –   –   273 (b)   (42,128) Pretax earnings   237,473   11,491   8,724   (16,117)     241,571 Income tax expense   (54,488)   (2,405)   (1,693)   –     (58,586) Earnings available to common stockholders $ 182,985 $ 9,086 $ 7,031 $ (16,117)   $ 182,985                         (a) Balances for the quarter ended September 30, 2020                       (b) Eliminate intercompany lease / interest income                       (c) Eliminate intercompany premiums                       (d) Eliminate equity in earnings of subsidiaries                Moving & Storage   Property & Casualty Insurance (a)   Life   Eliminations     AMERCO     (Unaudited)     (In thousands) Revenues:                       Self-moving equipment rentals $ 3,193,594 $ – $ – $ (3,604) (c) $ 3,189,990 Self-storage revenues   450,302   –   –   –     450,302 Self-moving and self-storage products and service sales   272,478   –   –   –     272,478 Property management fees   26,847   –   –   –     26,847 Life insurance premiums   –   –   84,628   –     84,628 Property and casualty insurance premiums   –   67,277   –   (2,291) (c)   64,986 Net investment and interest income   2,021   15,538   88,448   (3,044) (b)   102,963 Other revenue   346,591   –   2,985   (324) (b)   349,252 Total revenues   4,291,833   82,815   176,061   (9,263)     4,541,446                         Costs and expenses:                       Operating expenses   1,927,060   31,779   16,063   (6,204) (b,c)   1,968,698 Commission expenses   346,200   –   –   –     346,200 Cost of sales   193,448   –   –   –     193,448 Benefits and losses   –   16,679   122,515   –     139,194 Amortization of deferred policy acquisition costs   –   –   23,520   –     23,520 Lease expense   24,018   279   81   (1,896) (b)   22,482 Depreciation, net of gains on disposal   361,201   –   –   –     361,201 Net gains on disposal of real estate   (2,930)   –   –   –     (2,930) Total costs and expenses   2,848,997   48,737   162,179   (8,100)     3,051,813                         Earnings from operations before equity in earnings of subsidiaries   1,442,836   34,078   13,882   (1,163)     1,489,633                         Equity in earnings of subsidiaries   37,811   –   –   (37,811) (d)   –                         Earnings from operations   1,480,647   34,078   13,882   (38,974)     1,489,633 Other components of net periodic benefit costs   (840)   –   –   –     (840) Interest expense   (123,568)   –   (360)   1,163 (b)   (122,765) Fees on early extinguishment of debt   (956)   –   –   –     (956) Pretax earnings   1,355,283   34,078   13,522   (37,811)     1,365,072 Income tax expense   (318,744)   (7,133)   (2,656)   –     (328,533) Earnings available to common stockholders $ 1,036,539 $ 26,945 $ 10,866 $ (37,811)   $ 1,036,539                         (a) Balances for the nine months ended September 30, 2021                       (b) Eliminate intercompany lease / interest income                       (c) Eliminate intercompany premiums                       (d) Eliminate equity in earnings of subsidiaries                 Moving & Storage   Property & Casualty Insurance (a)   Life   Eliminations     AMERCO     (Unaudited)     (In thousands) Revenues:                       Self-moving equipment rentals $ 2,396,098 $ – $ – $ (2,568) (c) $ 2,393,530 Self-storage revenues   347,252   –   –   –     347,252 Self-moving and self-storage products and service sales   264,564   –   –   –     264,564 Property management fees   23,952   –   –   –     23,952 Life insurance premiums   –   –   91,958   –     91,958 Property and casualty insurance premiums   –   51,934   –   (2,398) (c)   49,536 Net investment and interest income   1,781   11,013   75,749   (2,648) (b)   85,895 Other revenue   223,252   –   2,583   (395) (b)   225,440 Total revenues   3,256,899   62,947   170,290   (8,009)     3,482,127                         Costs and expenses:                       Operating expenses   1,569,763   27,063   15,208   (5,347) (b,c)   1,606,687 Commission expenses   255,431   –   –   –     255,431 Cost of sales   159,516   –   –   –     159,516 Benefits and losses   –   11,376   119,284   –     130,660 Amortization of deferred policy acquisition costs   –   –   19,012   –     19,012 Lease expense   22,564   170   102   (1,841) (b)   20,995 Depreciation, net of gains on disposal   455,711   –   –   –     455,711 Net losses on disposal of real estate   4,293   –   –   –     4,293 Total costs and expenses   2,467,278   38,609   153,606   (7,188)     2,652,305                         Earnings from operations before equity in earnings of subsidiaries   789,621   24,338   16,684   (821)     829,822                         Equity in earnings of subsidiaries   32,850   –   –   (32,850) (d)   –                         Earnings from operations   822,471   24,338   16,684   (33,671)     829,822 Other components of net periodic benefit costs   (740)   –   –   –     (740) Interest expense   (122,995)   –   –   821 (b)   (122,174) Pretax earnings   698,736   24,338   16,684   (32,850)     706,908 Income tax expense   (161,660)   (5,121)   (3,051)   –     (169,832) Earnings available to common stockholders $ 537,076 $ 19,217 $ 13,633 $ (32,850)   $ 537,076                         (a) Balances for the nine months ended September 30, 2020                       (b) Eliminate intercompany lease / interest income                       (c) Eliminate intercompany premiums                       (d) Eliminate equity in earnings of subsidiaries             
Consolidated Cash Flow Statement by Industry Segment         Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Elimination     AMERCO Consolidated     (Unaudited) Cash flows from operating activities:   (In thousands) Net earnings $   1,036,539 $   26,945 $   10,866 $   (37,811)   $   1,036,539 Earnings from consolidated entities   (37,811)   –   –   37,811     – Adjustments to reconcile net earnings to the cash provided by operations:                       Depreciation   519,181   –   –   –     519,181 Amortization of deferred policy acquisition costs   –   –   23,520   –     23,520 Amortization of premiums and accretion of discounts related to investments, net   –   1,326   13,160   –     14,486 Amortization of debt issuance costs   4,200   –   –   –     4,200 Interest credited to policyholders   –   –   47,181   –     47,181 Change in allowance for losses on trade receivables   1,413   (174)   4   –     1,243 Change in allowance for inventories and parts reserve   9,799   –   –   –     9,799 Net gains on disposal of personal property   (157,980)   –   –   –     (157,980) Net gains on disposal of real estate   (2,930)   –   –   –     (2,930) Net gains on sales of investments   –   (223)   (3,272)   –     (3,495) Net gains on equity investments   –   (3,695)   –   –     (3,695) Deferred income taxes   134,541   763   (4,544)   –     130,760 Net change in other operating assets and liabilities:                       Reinsurance recoverables and trade receivables   (10,403)   1,567   1,465   –     (7,371) Inventories and parts   (70,796)   –   –   –     (70,796) Prepaid expenses   257,591   –   –   –     257,591 Capitalization of deferred policy acquisition costs   –   –   (25,703)   –     (25,703) Other assets   1,213   72   (107)   –     1,178 Related party assets   (17,870)   (813)   –   –     (18,683) Accounts payable and accrued expenses   30,634   1,659   965   –     33,258 Policy benefits and losses, claims and loss expenses payable   1,172   (1,987)   7,226   –     6,411 Other policyholders' funds and liabilities   –   61   (2,871)   –     (2,810) Deferred income   687   –   (1,213)   –     (526) Related party liabilities   (267)   (2,414)   474   –     (2,207) Net cash provided by operating activities   1,698,913   23,087   67,151   –     1,789,151                         Cash flows from investing activities:                       Escrow deposits   5,695   –   –   –     5,695 Purchases of:                       Property, plant and equipment   (1,652,984)   –   –   –     (1,652,984) Short term investments   –   (31,074)   –   –     (31,074) Fixed maturities investments   –   (7,749)   (440,534)   –     (448,283) Equity securities   –   –   (1,380)   –     (1,380) Preferred stock   –   –   (8,000)   –     (8,000) Real estate   (33)   –   (157)   –     (190) Mortgage loans   –   (19,132)   (112,501)   –     (131,633) Proceeds from sales and paydowns of:                       Property, plant and equipment   483,783   –   –   –     483,783 Short term investments   –   20,608   61   –     20,669 Fixed maturities investments   –   13,816   270,531   –     284,347 Equity securities   –   –   2,026   –     2,026 Preferred stock   –   2,000   –   –     2,000 Mortgage loans   –   851   27,213   –     28,064 Net cash used by investing activities   (1,163,539)   (20,680)   (262,741)   –     (1,446,960)     (page 1 of 2) (a) Balance for the period ended September 30, 2021                       Consolidating cash flow statements by industry segment for the nine months ended December 31, 2021 are as follows:     Moving & Storage   Property & Casualty   Life   Elimination     AMERCO     (Unaudited) Cash flows from financing activities:   (In thousands) Borrowings from credit facilities   1,202,412   –   –   –     1,202,412 Principal repayments on credit facilities   (322,232)   –   (11,187)   –     (333,419) Payments of debt issuance costs   (8,006)   –   –   –     (8,006) Finance lease payments   (129,150)   –   –   –     (129,150) Common stock dividend paid   (29,412)   –   –   –     (29,412) Investment contract deposits   –   –   271,657   –     271,657 Investment contract withdrawals   –   –   (177,777)   –     (177,777) Net cash provided by financing activities   713,612   –   82,693   –     796,305                         Effects of exchange rate on cash   (5,046)   –   –   –     (5,046)                         Increase (decrease) in cash and cash equivalents   1,243,940   2,407   (112,897)   –     1,133,450 Cash and cash equivalents at beginning of period   1,010,275   5,658   178,079   –     1,194,012 Cash and cash equivalents at end of period $   2,254,215 $   8,065 $   65,182 $   –   $   2,327,462     (page 2 of 2) (a) Balance for the period ended September 30, 2021                Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Elimination     AMERCO Consolidated     (Unaudited) Cash flows from operating activities:   (In thousands) Net earnings $   537,076 $   19,217 $   13,633 $   (32,850)   $   537,076 Earnings from consolidated entities   (32,850)   –   –   32,850     – Adjustments to reconcile net earnings to cash provided by operations:                       Depreciation   495,794   –   –   –     495,794 Amortization of deferred policy acquisition costs   –   –   19,012   –     19,012 Amortization of premiums and accretion of discounts related to investments, net   –   1,180   9,017   –     10,197 Amortization of debt issuance costs   4,645   –   –   –     4,645 Interest credited to policyholders   –   –   38,672   –     38,672 Change in allowance for losses on trade receivables   (573)   –   (1)   –     (574) Change in allowance for inventories and parts reserve   3,259   –   –   –     3,259 Net gains on disposal of personal property   (40,083)   –   –   –     (40,083) Net losses on disposal of real estate   4,293   –   –   –     4,293 Net gains on sales of investments   –   (86)   (5,558)   –     (5,644) Net losses on equity investments   –   669   –   –     669 Deferred income taxes   116,099   1,685   (759)   –     117,025 Net change in other operating assets and liabilities:                       Reinsurance recoverables and trade receivables   (39,327)   5,880   (6,052)   –     (39,499) Inventories and parts   (6,349)   –   –   –     (6,349) Prepaid expenses   112,428   –   –   –     112,428 Capitalization of deferred policy acquisition costs   –   –   (24,903)   –     (24,903) Other assets   30,337   286   (503)   –     30,120 Related party assets   (20,643)   (151)   –   –     (20,794) Accounts payable and accrued expenses   96,269   (2,106)   2,988   –     97,151 Policy benefits and losses, claims and loss expenses payable   10,526   (8,824)   12,394   –     14,096 Other policyholders' funds and liabilities   –   (5,671)   30,348   –     24,677 Deferred income   5,483   –   1,368   –     6,851 Related party liabilities   749   (946)   (1,369)   –     (1,566) Net cash provided by operating activities   1,277,133   11,133   88,287   –     1,376,553                         Cash flows from investing activities:                       Escrow deposits   (1,978)   –   –   –     (1,978) Purchases of:                       Property, plant and equipment   (961,995)   –   –   –     (961,995) Short term investments   –   (38,789)   (1)   –     (38,790) Fixed maturities investments   –   (10,438)   (341,869)   –     (352,307) Equity securities   –   –   (838)   –     (838) Preferred stock   –   –   (16,144)   –     (16,144) Real estate   –   –   (274)   –     (274) Mortgage loans   –   (14,780)   (77,501)   –     (92,281) Proceeds from sales and paydowns of:                       Property, plant and equipment   434,860   –   –   –     434,860 Short term investments   –   38,830   –   –     38,830 Fixed maturities investments   –   14,217   317,190   –     331,407 Equity securities   –   –   72   –     72 Preferred stock   –   1,200   –   –     1,200 Mortgage loans   –   879   3,865   –     4,744 Net cash used by investing activities   (529,113)   (8,881)   (115,500)   –     (653,494)     (page 1 of 2) (a) Balance for the period ended September 30, 2020                       Consolidating cash flow statements by industry segment for the nine months ended December 31, 2020 are as follows:       Moving & Storage   Property &   Life   Elimination     AMERCO     (Unaudited) Cash flows from financing activities:   (In thousands) Borrowings from credit facilities   780,932   –   9,600   –     790,532 Principal repayments on credit facilities   (558,280)   –   (9,788)   –     (568,068) Payment of debt issuance costs   (5,020)   –   –   –     (5,020) Finance lease payments   (173,520)   –   –   –     (173,520) Common stock dividend paid   (49,019)   –   –   –     (49,019) Net contribution from (to) related party   41,199   –   (18,599)   –     22,600 Investment contract deposits   –   –   326,055   –     326,055 Investment contract withdrawals   –   –   (169,008)   –     (169,008) Net cash provided by financing activities   36,292   –   138,260   –     174,552                         Effects of exchange rate on cash   6,877   –   –   –     6,877                         Increase in cash and cash equivalents   791,189   2,252   111,047   –     904,488 Cash and cash equivalents at beginning of period   459,078   4,794   30,480   –     494,352 Cash and cash equivalents at end of period $   1,250,267 $   7,046 $   141,527 $   –   $   1,398,840     (page 2 of 2) (a) Balance for the period ended September 30, 2020