Lease Expense (Table Text Block)

12 Months Ended

Mar. 31, 2013

Table Text Block [Abstract]

Lease Expenses

We lease a portion of our rental equipment and certain of our facilities under operating leases with terms that expire at various dates substantially through 2019. As of March 31, 2013, AMERCO has guaranteed $117.9 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, we have 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 expenses were as follows:

		Years Ended March 31,
		2012		2011		2010
		(In thousands)
Lease expense	$	117,448	$	131,215	$	150,809