SCHEDULE I

CONDENSED FINANCIAL INFORMATION OF AMERCO

BALANCE SHEETS

		March 31,
		2015		2014
		(In thousands)
ASSETS
Cash and cash equivalents	$	291,550	$	321,544
Investment in subsidiaries		813,735		493,612
Related party assets		1,225,044		1,150,671
Other assets		85,409		18,712
Total assets	$	2,415,738	$	1,984,539

LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
Other liabilities	$	524,988	$	455,952
		524,988		455,952
Stockholders' equity:
Preferred stock		–		–
Common stock		10,497		10,497
Additional paid-in capital		449,878		444,420
Accumulated other comprehensive loss		(34,365)		(53,923)
Retained earnings:
Beginning of period		1,805,243		1,482,420
Net earnings		356,741		342,391
Dividends		(19,594)		(19,568)
End of period		2,142,390		1,805,243

Cost of common shares in treasury		(525,653)		(525,653)
Cost of preferred shares in treasury		(151,997)		(151,997)
Total stockholders' equity		1,890,750		1,528,587
Total liabilities and stockholders' equity	$	2,415,738	$	1,984,539

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,
		2015		2014		2013
		(In thousands, except share and per share data)
Revenues:
Net interest income and other revenues	$	4,862	$	6,465	$	5,329
Expenses:
Operating expenses		7,055		6,636		13,611
Other expenses		99		97		97
Total expenses		7,154		6,733		13,708
Equity in earnings of subsidiaries		300,566		287,803		212,164
Interest income		75,241		86,916		91,125
Pretax earnings		373,515		374,451		294,910
Income tax expense		(16,774)		(32,060)		(30,202)
Earnings available to common shareholders	$	356,741	$	342,391	$	264,708
Basic and diluted earnings per common share	$	18.21	$	17.51	$	13.56
Weighted average common shares outstanding: Basic and diluted		19,586,633		19,558,758		19,518,779

The accompanying notes are an integral part of these condensed consolidated financial statements.

CONDENSED FINANCIAL INFORMATION OF AMERCO

STATEMENTS OF comprehensive income

		Years Ended March 31,
		2015		2014		2013
		(In thousands, except share and per share data)

Net earnings	$	356,741	$	342,391	$	264,708
Other comprehensive income (loss)		19,558		(31,243)		22,756
Total comprehensive income	$	376,299	$	311,148	$	287,464

STATEMENTS OF CASH FLOW

		Years Ended March 31,
		2015		2014		2013
		(In thousands)
Cash flows from operating activities:
Net earnings	$	356,741	$	342,391	$	264,708
Change in investments in subsidiaries		(300,566)		(287,803)		(212,164)
Adjustments to reconcile net earnings to cash provided by operations:
Depreciation		6		5		5
Net gain on sale of investments		–		(1,325)		(76)
Deferred income taxes		66,628		34,605		9,206
Net change in other operating assets and liabilities:
Prepaid expenses		(66,786)		3,938		(12,979)
Other assets		84		(41)		365
Related party assets		(539)		–		–
Accounts payable and accrued expenses		5,239		6,589		2,659
Net cash provided by operating activities		60,807		98,359		51,724

Cash flows from investing activities:
Purchases of property, plant and equipment		–		(2)		(2)
Proceeds of equity securities		–		26,569		372
Net cash provided by investing activities		–		26,567		370

Cash flows from financing activities:
Proceeds from (repayments) of intercompany loans		(71,207)		(110,933)		172,444
Common stock dividends paid		(19,594)		(19,568)		(97,421)
Contribution to related party		–		–		(1,500)
Net cash provided (used) by financing activities		(90,801)		(130,501)		73,523

Increase (decrease) in cash and cash equivalents		(29,994)		(5,575)		125,617
Cash and cash equivalents at beginning of period		321,544		327,119		201,502
Cash and cash equivalents at end of period	$	291,550	$	321,544	$	327,119

Income taxes paid, net of income taxes refunds received, amounted to $195.1 million, $138.4 million and $144.7 million for fiscal 2015, 2014 and 2013, respectively.

The accompanying notes are an integral part of these condensed consolidated financial statements.