Condensed Financial Information of Amerco

12 Months Ended

Mar. 31, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Financial Information of Amerco

SCHEDULE I
CONDENSED FINANCIAL INFORMATION OF AMERCO
BALANCE SHEETS
		March 31,
		2014	2013
		(In thousands)
ASSETS
Cash and cash equivalents	$	321,544	327,119
Investment in subsidiaries		493,612	240,080
Related party assets		1,150,671	1,032,124
Other assets		18,712	43,841
Total assets	$	1,984,539	1,643,164
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
Other liabilities	$	455,952	412,199
		455,952	412,199
Stockholders' equity:
Preferred stock		-	-
Common stock		10,497	10,497
Additional paid-in capital		444,420	438,378
Accumulated other comprehensive loss		(53,923)	(22,680)
Retained earnings:
Beginning of period		1,482,420	1,316,854
Adjustment to initially apply ASU 2010-26		-	(1,721)
Net earnings		342,391	264,708
Dividends		(19,568)	(97,421)
End of period		1,805,243	1,482,420
Cost of common shares in treasury		(525,653)	(525,653)
Cost of preferred shares in treasury		(151,997)	(151,997)
Total stockholders' equity		1,528,587	1,230,965
Total liabilities and stockholders' equity	$	1,984,539	1,643,164
The accompanying notes are an integral part of these condensed consolidated financial statements.

CONDENSED FINANCIAL INFORMATION OF AMERCO
STATEMENTS OF OPERATIONS		Years Ended March 31,
		2014		2013		2012
		(In thousands, except share and per share data)
Revenues:
Net interest income and other revenues	$	6,465	$	5,329	$	6,085
Expenses:
Operating expenses		6,636		13,611		9,081
Other expenses		97		97		98
Total expenses		6,733		13,708		9,179
Equity in earnings of subsidiaries		287,803		212,164		149,160
Interest income		86,916		91,125		94,278
Pretax earnings		374,451		294,910		240,344
Income tax expense		(32,060)		(30,202)		(34,649)
Net earnings		342,391		264,708		205,695
Less: Excess of redemption value over carrying value of preferred shares redeemed		-		-		(5,908)
Less: Preferred stock dividends		-		-		(3,241)
Earnings available to common shareholders	$	342,391	$	264,708	$	196,546
Basic and diluted earnings per common share	$	18	$	14	$	10
Weighted average common shares outstanding: Basic and diluted		19,558,758		19,518,779		19,476,187
The accompanying notes are an integral part of these condensed consolidated financial statements.

		Years Ended March 31,
CONDENSED FINANCIAL INFORMATION OF AMERCO		2014		2013		2012
STATEMENTS OF comprehensive income		(In thousands, except share and per share data)
Net earnings	$	342,391	$	264,708	$	205,695
Other comprehensive income (loss)		(31,243)		22,756		1,031
Total comprehensive income	$	311,148	$	287,464	$	206,726
The accompanying notes are an integral part of these condensed consolidated financial statements.

CONDENSED FINANCIAL INFORMATION OF AMERCO		Years Ended March 31,
STATEMENTS OF CASH FLOW		2014		2013		2012
		(In thousands)
Cash flows from operating activities:
Net earnings	$	342,391	$	264,708	$	205,695
Change in investments in subsidiaries		(287,803)		(212,164)		(149,160)
Adjustments to reconcile net earnings to cash provided by operations:
Depreciation		5		5		5
Net gain on sale of investments		(1,325)		(76)		(488)
Deferred income taxes		34,605		9,206		109,680
Net change in other operating assets and liabilities:
Prepaid expenses		3,938		(12,979)		6,470
Other assets		(41)		365		2,380
Accounts payable and accrued expenses		6,589		2,659		4,163
Net cash provided by operating activities		98,359		51,724		178,745
Cash flows from investing activities:
Purchases of property, plant and equipment		(2)		(2)		(1)
Purchases of equity securities		-		-		(8,855)
Proceeds of equity securities		26,569		372		8,800
Net cash provided (used) by investing activities		26,567		370		(56)
Cash flows from financing activities:
Proceeds from (repayments) of intercompany loans		(110,933)		172,444		(52,051)
Preferred stock redemption paid		-		-		(151,997)
Preferred stock dividends paid		-		-		(3,241)
Common stock dividends paid		(19,568)		(97,421)		(19,484)
Contribution to related party		-		(1,500)		(518)
Net cash provided (used) by financing activities		(130,501)		73,523		(227,291)
Increase (decrease) in cash and cash equivalents		(5,575)		125,617		(48,602)
Cash and cash equivalents at beginning of period		327,119		201,502		250,104
Cash and cash equivalents at end of period	$	321,544	$	327,119	$	201,502
Income taxes paid, net of income taxes refunds received, amounted to $138.4 million, $144.7 million and $10.7 million for fiscal 2014, 2013 and 2012, respectively.
The accompanying notes are an integral part of these condensed consolidated financial statements.