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Consolidating Financial Information by Industry Segment (Table Text Block)
12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Mar. 31, 2020
Table Text Block Supplement [Abstract]      
Consolidated Balance Sheet by Industry Segment Consolidating balance sheets by industry segment as of March   31, 2022 are as follows:     Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Eliminations     AMERCO Consolidated     (In thousands) Assets:                       Cash and cash equivalents $ 2,643,213 $ 10,800 $ 50,124 $ –   $ 2,704,137 Reinsurance recoverables and trade receivables, net   142,895   50,235   36,213   –     229,343 Inventories and parts, net   158,888   –   –   –     158,888 Prepaid expenses   236,915   –   –   –     236,915 Investments, fixed maturities and marketable equities   –   297,488   2,595,911   –     2,893,399 Investments, other   20,653   114,269   408,833   –     543,755 Deferred policy acquisition costs, net   –   –   103,828   –     103,828 Other assets   57,305   371   2,733   –     60,409 Right of use assets - financing, net   620,824   –   –   –     620,824 Right of use assets - operating, net   74,190   93   99   –     74,382 Related party assets   64,611   6,713   16,911   (40,384) (c)   47,851     4,019,494   479,969   3,214,652   (40,384)     7,673,731                         Investment in subsidiaries   737,073   –   –   (737,073) (b)   –                         Property, plant and equipment, at cost:                       Land   1,283,142   –   –   –     1,283,142 Buildings and improvements   5,974,639   –   –   –     5,974,639 Furniture and equipment   846,132   –   –   –     846,132 Rental trailers and other rental equipment   615,679   –   –   –     615,679 Rental trucks   4,638,814   –   –   –     4,638,814     13,358,406   –   –   –     13,358,406 Less:   Accumulated depreciation   (3,732,556)   –   –   –     (3,732,556) Total property, plant and equipment, net   9,625,850   –   –   –     9,625,850 Total assets $ 14,382,417 $ 479,969 $ 3,214,652 $ (777,457)   $ 17,299,581                         (a)   Balances as of December 31, 2021                       (b) Eliminate investment in subsidiaries                       (c) Eliminate intercompany receivables and payables                         Consolidating balance sheets by industry segment as of March   31, 2022 are as follows:     Moving & Storage   Property & Casualty Insurance (a)   Life   Eliminations     AMERCO     (In thousands) Liabilities:                       Accounts payable and accrued expenses $ 663,482 $ 3,849 $ 10,454 $ –   $ 677,785 Notes, loans and finance leases payable, net   6,022,497   –   –   –     6,022,497 Operating lease liability   73,998   93   106   –     74,197 Policy benefits and losses, claims and loss expenses payable   418,890   160,379   398,985   –     978,254 Liabilities from investment contracts   –   –   2,336,238   –     2,336,238 Other policyholders' funds and liabilities   –   3,521   7,291   –     10,812 Deferred income   49,157   –   –   –     49,157 Deferred income taxes, net   1,244,639   12,803   7,916   –     1,265,358 Related party liabilities   25,668   3,196   12,717   (41,581) (c)   – Total liabilities   8,498,331   183,841   2,773,707   (41,581)     11,414,298                         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)   45,187   16,630   87,200   (102,633) (b)   46,384 Retained earnings   6,052,023   185,077   324,974   (509,841) (b)   6,052,233 Cost of common shares in treasury, net   (525,653)   –   –   –     (525,653) Cost of preferred shares in treasury, net   (151,997)   –   –   –     (151,997) Total stockholders' equity   5,884,086   296,128   440,945   (735,876)     5,885,283 Total liabilities and stockholders' equity $ 14,382,417 $ 479,969 $ 3,214,652 $ (777,457)   $ 17,299,581                         (a)   Balances as of December 31, 2021                       (b) Eliminate investment in subsidiaries                       (c) Eliminate intercompany receivables and payables            Consolidating balance sheets by industry segment as of March 31, 2021 are as follows:     Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Eliminations     AMERCO Consolidated     (In thousands) Assets:                       Cash and cash equivalents $ 1,010,275 $ 5,658 $ 178,079 $ –   $ 1,194,012 Reinsurance recoverables and trade receivables, net   118,741   67,069   38,616   –     224,426 Inventories and parts, net   105,577   –   –   –     105,577 Prepaid expenses   469,144   –   –   –     469,144 Investments, fixed maturities and marketable equities   –   295,753   2,399,903   –     2,695,656 Investments, other   20,733   90,412   378,614   –     489,759 Deferred policy acquisition costs, net   –   –   89,749   –     89,749 Other assets   44,763   436   2,531   –     47,730 Right of use assets - financing, net   877,038   –   –   –     877,038 Right of use assets - operating, net   92,245   92   168   –     92,505 Related party assets   54,042   6,854   13,850   (39,351) (c)   35,395     2,792,558   466,274   3,101,510   (39,351)     6,320,991                         Investment in subsidiaries   741,860   –   –   (741,860) (b)   –                         Property, plant and equipment, at cost:                       Land   1,075,813   –   –   –     1,075,813 Buildings and improvements   5,163,705   –   –   –     5,163,705 Furniture and equipment   786,505   –   –   –     786,505 Rental trailers and other rental equipment   477,921   –   –   –     477,921 Rental trucks   3,909,724   –   –   –     3,909,724     11,413,668   –   –   –     11,413,668 Less:   Accumulated depreciation   (3,083,053)   –   –   –     (3,083,053) Total property, plant and equipment, net   8,330,615   –   –   –     8,330,615 Total assets $ 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 are as follows:     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 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 shares in treasury, net   (525,653)   –   –   –     (525,653) Cost of preferred shares 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 Consolidating statements of operations by industry segment for period ending March 31, 2022 are as follows:     Moving & Storage   Property & Casualty Insurance (a)   Life   Eliminations     AMERCO     (In thousands) Revenues:                       Self-moving equipment rentals $ 3,963,535 $ – $ – $ (4,728) (c) $ 3,958,807 Self-storage revenues   617,120   –   –   –     617,120 Self-moving & self-storage products & service sales   351,447   –   –   –     351,447 Property management fees   35,194   –   –   –     35,194 Life insurance premiums   –   –   111,027   –     111,027 Property and casualty insurance premiums   –   89,667   –   (3,149) (c)   86,518 Net investment and interest income   3,135   25,376   123,809   (4,059) (b)   148,261 Other revenue   427,836   –   3,976   (439) (b)   431,373 Total revenues   5,398,267   115,043   238,812   (12,375)     5,739,747                         Costs and expenses:                       Operating expenses   2,621,270   42,456   21,112   (8,297) (b,c)   2,676,541 Commission expenses   429,581   –   –   –     429,581 Cost of sales   259,585   –   –   –     259,585 Benefits and losses   –   22,448   164,199   –     186,647 Amortization of deferred policy acquisition costs   –   –   33,854   –     33,854 Lease expense   31,973   359   109   (2,531) (b)   29,910 Depreciation, net gains on disposals   482,752   –   –   –     482,752 Net gains on disposal of real estate   (4,120)   –   –   –     (4,120) Total costs and expenses   3,821,041   65,263   219,274   (10,828)     4,094,750                         Earnings from operations before equity in earnings of subsidiaries   1,577,226   49,780   19,538   (1,547)     1,644,997                         Equity in earnings of subsidiaries   54,746   –   –   (54,746) (d)   –                         Earnings from operations   1,631,972   49,780   19,538   (56,293)     1,644,997 Other components of net periodic benefit costs   (1,120)   –   –   –     (1,120) Interest expense   (168,491)   –   (480)   1,547 (b)   (167,424) Fees on early extinguishment of debt   (956)   –   –   –     (956) Pretax earnings   1,461,405   49,780   19,058   (54,746)     1,475,497 Income tax expense   (338,119)   (10,378)   (3,714)   –     (352,211) Earnings available to common shareholders $ 1,123,286 $ 39,402 $ 15,344 $ (54,746)   $ 1,123,286                         (a)   Balances for the year ended December 31, 2021                       (b) Eliminate intercompany lease / interest income                       (c) Eliminate intercompany premiums                       (d) Eliminate equity in earnings of subsidiaries            Consolidating statements of operations by industry segment for period ending March 31, 2021 are as follows:     Moving & Storage   Property & Casualty Insurance (a)   Life   Eliminations     AMERCO     (In thousands) Revenues:                       Self-moving equipment rentals $ 3,086,824 $ – $ – $ (3,507) (c) $ 3,083,317 Self-storage revenues   477,262   –   –   –     477,262 Self-moving & self-storage products & service sales   344,929   –   –   –     344,929 Property management fees   31,603   –   –   –     31,603 Life insurance premiums   –   –   121,609   –     121,609 Property and casualty insurance premiums   –   70,285   –   (1,506) (c)   68,779 Net investment and interest income   2,259   16,452   107,745   (3,518) (b)   122,938 Other revenue   288,797   –   3,280   (529) (b)   291,548 Total revenues   4,231,674   86,737   232,634   (9,060)     4,541,985                         Costs and expenses:                       Operating expenses   2,137,381   35,450   20,376   (5,523) (b,c)   2,187,684 Commission expenses   329,609   –   –   –     329,609 Cost of sales   214,059   –   –   –     214,059 Benefits and losses   –   18,558   160,954   –     179,512 Amortization of deferred policy acquisition costs   –   –   28,293   –     28,293 Lease expense   30,551   231   135   (2,447) (b)   28,470 Depreciation, net gains on disposals   609,930   –   –   –     609,930 Net losses on disposal of real estate   3,281   –   –   –     3,281 Total costs and expenses   3,324,811   54,239   209,758   (7,970)     3,580,838                         Earnings from operations before equity in earnings of subsidiaries   906,863   32,498   22,876   (1,090)     961,147                         Equity in earnings of subsidiaries   44,441   –   –   (44,441) (d)   –                         Earnings from operations   951,304   32,498   22,876   (45,531)     961,147 Other components of net periodic benefit costs   (987)   –   –   –     (987) Interest expense   (164,592)   –   –   1,090 (b)   (163,502) Pretax earnings   785,725   32,498   22,876   (44,441)     796,658 Income tax expense   (174,869)   (6,778)   (4,155)   –     (185,802) Earnings available to common shareholders $ 610,856 $ 25,720 $ 18,721 $ (44,441)   $ 610,856                         (a)   Balances for the year ended December 31, 2020                       (b) Eliminate intercompany lease/interest income                       (c) Eliminate intercompany premiums                       (d) Eliminate equity in earnings of subsidiaries            Consolidating statements of operations by industry segment for period ending March 31, 2020 are as follows:     Moving & Storage   Property & Casualty Insurance (a)   Life   Eliminations     AMERCO     (In thousands) Revenues:                       Self-moving equipment rentals $ 2,696,516 $ – $ – $ (4,103) (c) $ 2,692,413 Self-storage revenues   418,741   –   –   –     418,741 Self-moving & self-storage products & service sales   265,091   –   –   –     265,091 Property management fees   30,406   –   –   –     30,406 Life insurance premiums   –   –   127,976   –     127,976 Property and casualty insurance premiums   –   69,141   –   (3,088) (c)   66,053 Net investment and interest income   10,593   19,923   109,018   (1,705) (b)   137,829 Other revenue   236,419   –   4,470   (530) (b)   240,359 Total revenues   3,657,766   89,064   241,464   (9,426)     3,978,868                         Costs and expenses:                       Operating expenses   2,069,655   33,770   21,425   (7,702) (b,c)   2,117,148 Commission expenses   288,332   –   –   –     288,332 Cost of sales   164,018   –   –   –     164,018 Benefits and losses   –   12,410   162,426   –     174,836 Amortization of deferred policy acquisition costs   –   –   31,219   –     31,219 Lease expense   27,494   –   –   (612) (b)   26,882 Depreciation, net gains on disposals   637,063   –   –   –     637,063 Net gains on disposal of real estate   (758)   –   –   –     (758) Total costs and expenses   3,185,804   46,180   215,070   (8,314)     3,438,740                         Earnings from operations before equity in earnings of subsidiaries   471,962   42,884   26,394   (1,112)     540,128                         Equity in earnings of subsidiaries   55,789   –   –   (55,789) (d)   –                         Earnings from operations   527,751   42,884   26,394   (56,901)     540,128 Other components of net periodic benefit costs   (1,054)   –   –   –     (1,054) Interest expense   (162,062)   –   –   1,112 (b)   (160,950) Pretax earnings   364,635   42,884   26,394   (55,789)     378,124 Income tax benefit (expense)   77,413   (8,956)   (4,533)   –     63,924 Earnings available to common shareholders $ 442,048 $ 33,928 $ 21,861 $ (55,789)   $ 442,048                         (a)   Balances for the year ended December 31, 2019                       (b) Eliminate intercompany lease/interest income                       (c) Eliminate intercompany premiums                       (d) Eliminate equity in earnings of subsidiaries           
Consolidated Cash Flow Statement by Industry Segment Consolidating cash flow statements by industry segment for the year ended March 31, 2022, are as follows:     Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Elimination     AMERCO Consolidated     (In thousands) Cash flows from operating activities:                       Net earnings $ 1,123,286 $ 39,402 $ 15,344 $ (54,746)   $ 1,123,286 Earnings from consolidated subsidiaries   (54,746)   –   –   54,746     – Adjustments to reconcile net earnings to cash provided by operations:                       Depreciation   696,955   –   –   –     696,955 Amortization of deferred policy acquisition costs   –   –   33,854   –     33,854 Amortization of premiums and accretion of discounts related to investments, net   –   1,638   18,111   –     19,749 Amortization of debt issuance costs   5,659   –   –   –     5,659 Interest credited to policyholders   –   –   64,692   –     64,692 Change in allowance for losses on trade receivables   4,689   (456)   (6)   –     4,227 Change in allowance for inventories and parts reserve   15,235   –   –   –     15,235 Net gains on disposal of personal property   (214,203)   –   –   –     (214,203) Net gains on disposal of real estate   (4,120)   –   –   –     (4,120) Net gains on sales of investments   –   (991)   (10,881)   –     (11,872) Net gains on equity securities   –   (7,837)   –   –     (7,837) Deferred income taxes   106,869   1,347   (7,125)   –     101,091 Net change in other operating assets and liabilities:                       Reinsurance recoverables and trade receivables   (28,776)   17,180   2,409   –     (9,187) Inventories and parts   (68,536)   –   –   –     (68,536) Prepaid expenses   232,342   –   –   –     232,342 Capitalization of deferred policy acquisition costs   –   –   (32,626)   –     (32,626) Other assets   (2,919)   346   (133)   –     (2,706) Related party assets   (10,517)   160   –   –     (10,357) Accounts payable and accrued expenses   23,839   1,821   3,092   –     28,752 Policy benefits and losses, claims and loss expenses payable   (8,428)   (18,563)   7,299   –     (19,692) Other policyholders' funds and liabilities   –   (177)   (1,431)   –     (1,608) Deferred income   6,368   –   (1,152)   –     5,216 Related party liabilities   255   (2,644)   310   –     (2,079) Net cash provided by operating activities   1,823,252   31,226   91,757   –     1,946,235                         Cash flows from investing activities:                       Escrow deposits   (9,328)   –   –   –     (9,328) Purchases of:                       Property, plant and equipment   (2,136,537)   –   –   –     (2,136,537) Short term investments   –   (74,418)   –   –     (74,418) Fixed maturities investments   –   (10,248)   (617,078)   –     (627,326) Equity securities   –   (17,919)   (1,380)   –     (19,299) Preferred stock   –   –   (8,000)   –     (8,000) Real estate   (33)   (59)   (169)   –     (261) Mortgage loans   –   (24,032)   (134,115)   –     (158,147) Proceeds from sales and paydowns of:                       Property, plant and equipment   623,235   –   –   –     623,235 Short term investments   –   50,737   854   –     51,591 Fixed maturities investments   –   24,201   336,736   –     360,937 Equity securities   –   20   2,026   –     2,046 Preferred stock   –   2,000   –   –     2,000 Real estate   113   –   –   –     113 Mortgage loans   –   23,634   102,584   –     126,218 Net cash used by investing activities   (1,522,550)   (26,084)   (318,542)   –     (1,867,176)     (page 1 of 2) (a) Balance for the period ended December 31, 2021                                               Continuation of consolidating cash flow statements by industry segment for the year ended March 31, 2022, are as follows:     Moving & Storage Consolidated   Property & Casualty   Life   Elimination     AMERCO     (In thousands) Cash flows from financing activities:                       Borrowings from credit facilities   1,969,474   –   –   –     1,969,474 Principal repayments on credit facilities   (426,319)   –   (11,187)   –     (437,506) Payment of debt issuance costs   (13,156)   –   –   –     (13,156) Finance lease payments   (166,262)   –   –   –     (166,262) Common stock dividends paid   (29,412)   –   –   –     (29,412) Investment contract deposits   –   –   347,520   –     347,520 Investment contract withdrawals   –   –   (237,503)   –     (237,503) Net cash provided by financing activities   1,334,325   –   98,830   –     1,433,155                         Effects of exchange rate on cash   (2,089)   –   –   –     (2,089)                         Increase (decrease) in cash and cash equivalents   1,632,938   5,142   (127,955)   –     1,510,125 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 $ 2,643,213 $ 10,800 $ 50,124 $ –   $ 2,704,137     (page 2 of 2) (a) Balance for the period ended December 31, 2021            Consolidating cash flow statements by industry segment for the year ended March 31, 2021, are as follows:     Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Elimination     AMERCO Consolidated     (In thousands) Cash flows from operating activities:                       Net earnings $ 610,856 $ 25,720 $ 18,721 $ (44,441)   $ 610,856 Earnings from consolidated subsidiaries   (44,441)   –   –   44,441     – Adjustments to reconcile net earnings to cash provided by operations:                       Depreciation   664,001   –   –   –     664,001 Amortization of deferred policy acquisition costs   –   –   28,293   –     28,293 Amortization of premiums and accretion of discounts related to investments, net   –   1,578   12,651   –     14,229 Amortization of debt issuance costs   5,948   –   –   –     5,948 Interest credited to policyholders   –   –   55,321   –     55,321 Change in allowance for losses on trade receivables   1,424   (217)   (1)   –     1,206 Change in allowance for inventories and parts reserve   1,298   –   –   –     1,298 Net gains on disposal of personal property   (54,071)   –   –   –     (54,071) Net losses on disposal of real estate   3,281   –   –   –     3,281 Net gains on sales of investments   –   (158)   (9,900)   –     (10,058) Net gains on equity securities   –   (394)   –   –     (394) Deferred income taxes   72,407   459   (4,455)   –     68,411 Net change in other operating assets and liabilities:                       Reinsurance recoverables and trade receivables   (60,806)   27,302   (6,012)   –     (39,516) Inventories and parts   (5,775)   –   –   –     (5,775) Prepaid expenses   94,359   –   –   –     94,359 Capitalization of deferred policy acquisition costs   –   –   (36,162)   –     (36,162) Other assets   29,879   537   (551)   –     29,865 Related party assets   (12,790)   303   –   12,000 (b)   (487) Accounts payable and accrued expenses   96,309   (3,497)   113   –     92,925 Policy benefits and losses, claims and loss expenses payable   14,919   (31,398)   14,487   –     (1,992) Other policyholders' funds and liabilities   –   (2,053)   4,283   –     2,230 Deferred income   10,959   –   608   –     11,567 Related party liabilities   1,136   1,187   9,737   (12,000) (b)   60 Net cash provided by operating activities   1,428,893   19,369   87,133   –     1,535,395                         Cash flows from investing activities:                       Escrow deposits   (5,221)   –   –   –     (5,221) Purchases of:                       Property, plant and equipment   (1,441,475)   –   –   –     (1,441,475) Short term investments   –   (69,929)   –   –     (69,929) Fixed maturities investments   –   (18,823)   (587,410)   –     (606,233) Equity securities   –   –   (962)   –     (962) Preferred stock   –   –   (16,144)   –     (16,144) Real estate   –   –   (622)   –     (622) Mortgage loans   –   (18,035)   (140,036)   –     (158,071) Proceeds from sales and paydowns of:                       Property, plant and equipment   537,484   –   –   –     537,484 Short term investments   –   69,669   49   –     69,718 Fixed maturities investments   –   20,854   508,385   –     529,239 Equity securities   –   –   207   –     207 Preferred stock   –   2,700   –   –     2,700 Real estate   255   –   –   –     255 Mortgage loans   –   17,659   11,866   –     29,525 Net cash (used) provided by investing activities   (908,957)   4,095   (224,667)   –     (1,129,529)     (page 1 of 2) (a) Balance for the period ended December 31, 2020                       Continuation of consolidating cash flow statements by industry segment for the year ended March 31, 2021, are as follows:     Moving & Storage Consolidated   Property & Casualty   Life   Elimination     AMERCO     (In thousands) Cash flows from financing activities:                       Borrowings from credit facilities   912,408   –   9,600   –     922,008 Principal repayments on credit facilities   (652,728)   –   (9,860)   –     (662,588) Payment of debt issuance costs   (5,793)   –   –   –     (5,793) Finance lease payments   (221,247)   –   –   –     (221,247) Common stock dividends paid   (49,019)   –   –   –     (49,019) Net contribution from (to) related party   41,199   (22,600)   (18,599)   –     – Investment contract deposits   –   –   517,856   –     517,856 Investment contract withdrawals   –   –   (213,864)   –     (213,864) Net cash provided (used) by financing activities   24,820   (22,600)   285,133   –     287,353                         Effects of exchange rate on cash   6,441   –   –   –     6,441                         Increase in cash and cash equivalents   551,197   864   147,599   –     699,660 Cash and cash equivalents at beginning of period   459,078   4,794   30,480   –     494,352 Cash and cash equivalents at end of period $ 1,010,275 $ 5,658 $ 178,079 $ –   $ 1,194,012     (page 2 of 2) (a) Balance for the period ended December 31, 2020            Consolidating cash flow statements by industry segment for the year ended March 31, 2020 are as follows:       Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Elimination     AMERCO Consolidated     (In thousands) Cash flows from operating activities:                       Net earnings $ 442,048 $ 33,928 $ 21,861 $ (55,789)   $ 442,048 Earnings from consolidated subsidiaries   (55,789)   –   –   55,789     – Adjustments to reconcile net earnings to cash provided by operations:                       Depreciation   664,120   –   –   –     664,120 Amortization of deferred policy acquisition costs   –   –   31,219   –     31,219 Amortization of premiums and accretion of discounts related to investments, net   –   1,469   11,848   –     13,317 Amortization of debt issuance costs   4,426   –   –   –     4,426 Interest credited to policyholders   –   –   51,857   –     51,857 Change in allowance for losses on trade receivables   (14)   –   –   –     (14) Change in allowance for inventories and parts reserve   640   –   –   –     640 Net gains on disposal of personal property   (27,057)   –   –   –     (27,057) Net gains on disposal of real estate   (758)   –   –   –     (758) Net gains on sales of investments   –   (355)   (13,241)   –     (13,596) Net gains on equity securities   –   (3,783)   –   –     (3,783) Deferred income taxes   323,980   (2,847)   (3,240)   –     317,893 Net change in other operating assets and liabilities:                       Reinsurance recoverables and trade receivables   30,771   8,127   (769)   –     38,129 Inventories and parts   1,776   –   –   –     1,776 Prepaid expenses   (391,120)   –   –   –     (391,120) Capitalization of deferred policy acquisition costs   –   –   (24,447)   –     (24,447) Other assets   (3,099)   2,098   (294)   –     (1,295) Related party assets   (5,106)   (539)   –   –     (5,645) Accounts payable and accrued expenses   (4,428)   2,688   (2,790)   –     (4,530) Policy benefits and losses, claims and loss expenses payable   3,092   (19,618)   3,908   –     (12,618) Other policyholders' funds and liabilities   –   491   (5,348)   –     (4,857) Deferred income   (1,818)   –   –   –     (1,818) Related party liabilities   (1,170)   819   1,977   –     1,626 Net cash provided by operating activities   980,494   22,478   72,541   –     1,075,513                         Cash flows from investing activities:                       Escrow deposits   6,617   –   –   –     6,617 Purchases of:                       Property, plant and equipment   (2,309,406)   –   –   –     (2,309,406) Short term investments   –   (60,590)   (636)   –     (61,226) Fixed maturities investments   –   (13,001)   (366,348)   –     (379,349) Equity securities   –   –   (83)   –     (83) Real estate   –   (328)   (3,958)   –     (4,286) Mortgage loans   –   (18,050)   (43,966)   –     (62,016) Proceeds from sales and paydowns of:                       Property, plant and equipment   687,375   –   –   –     687,375 Short term investments   –   59,056   –   –     59,056 Fixed maturities investments   –   25,386   243,250   –     268,636 Equity securities   –   185   –   –     185 Preferred stock   –   1,375   1,000   –     2,375 Real estate   311   –   –   –     311 Mortgage loans   –   4,126   21,036   –     25,162 Net cash used by investing activities   (1,615,103)   (1,841)   (149,705)   –     (1,766,649)     (page 1 of 2) (a) Balance for the period ended December 31, 2019                       Continuation of consolidating cash flow statements by industry segment for the year ended March 31, 2020 are as follows:     Moving & Storage   Property & Casualty   Life   Elimination     AMERCO     (In thousands) Cash flows from financing activities:                       Borrowings from credit facilities   1,118,912   –   2,500   –     1,121,412 Principal repayments on credit facilities   (347,486)   –   (2,500)   –     (349,986) Payment of debt issuance costs   (5,332)   –   –   –     (5,332) Finance lease payments   (307,782)   –   –   –     (307,782) Employee stock ownership plan shares   (206)   –   –   –     (206) Common stock dividends paid   (29,404)   –   –   –     (29,404) Net contribution from (to) related party   21,600   (21,600)   –   –     – Investment contract deposits   –   –   234,640   –     234,640 Investment contract withdrawals   –   –   (151,022)   –     (151,022) Net cash provided (used) by financing activities   450,302   (21,600)   83,618   –     512,320                         Effects of exchange rate on cash   (533)   –   –   –     (533)                         Increase (decrease) in cash and cash equivalents   (184,840)   (963)   6,454   –     (179,349) Cash and cash equivalents at beginning of period   643,918   5,757   24,026   –     673,701 Cash and cash equivalents at end of period $ 459,078 $ 4,794 $ 30,480 $ –   $ 494,352     (page 2 of 2) (a) Balance for the period ended December 31, 2019