Related Party Costs and Expenses (Table Text Block)

6 Months Ended

Sep. 30, 2013

Related Party Costs and Expenses

		Quarter Ended September 30,
		2013		2012
		(Unaudited)
		(In thousands)
U-Haul lease expenses to SAC Holdings	$	655	$	655
U-Haul commission expenses to SAC Holdings		14,407		12,455
U-Haul commission expenses to Private Mini		893		812
	$	15,955	$	13,922

		Six Months Ended September 30,
		2013		2012
		(Unaudited)
		(In thousands)
U-Haul lease expenses to SAC Holdings	$	1,310	$	1,316
U-Haul commission expenses to SAC Holdings		26,927		23,389
U-Haul commission expenses to Private Mini		1,688		1,507
	$	29,925	$	26,212

We lease space for marketing company offices, vehicle repair shops and hitch installation centers from subsidiaries of SAC Holdings, 5 SAC and Galaxy. The terms of the leases are similar to the terms of leases for other properties owned by unrelated parties that are leased to us.

At September 30, 2013, subsidiaries of SAC Holdings, 4 SAC, 5 SAC, Galaxy and Private Mini acted as U-Haul independent dealers. The financial and other terms of the dealership contracts with the aforementioned companies and their subsidiaries are substantially identical to the terms of those with our other independent dealers whereby commissions are paid by the Company based upon equipment rental revenues.

These agreements and notes with subsidiaries of SAC Holdings, 4 SAC, 5 SAC, Galaxy and Private Mini, excluding Dealer Agreements, provided revenues of $15.8 million, expenses of $1.3 million and cash flows of $29.3 million during the first six months of fiscal 2014. Revenues and commission expenses related to the Dealer Agreements were $131.1 million and $28.6 million, respectively during the first six months of fiscal 2014.