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Consolidated Statement of Operations by Segment (Table Text Block)
12 Months Ended
Mar. 31, 2015
Table Text Block Supplement [Abstract]  
Consolidated Statement of Operations by Industry Segment

Consolidating statements of operations by industry segment for period ending March 31, 2015 are as follows:

 

 

 

 

 

 

 

 

 

 

 

Moving & Storage

Consolidated

 

Property & Casualty Insurance (a)

 

Life

Insurance (a)

 

Eliminations

 

 

AMERCO

Consolidated

 

 

(In thousands)

Revenues:

 

 

 

 

 

 

 

 

 

 

 

Self-moving equipment rentals

$

2,149,986

$

–

$

–

$

(3,595)

(c)

$

2,146,391

Self-storage revenues

 

211,136

 

–

 

–

 

–

 

 

211,136

Self-moving & self-storage products & service sales

 

244,177

 

–

 

–

 

–

 

 

244,177

Property management fees

 

25,341

 

–

 

–

 

–

 

 

25,341

Life insurance premiums

 

–

 

–

 

156,103

 

–

 

 

156,103

Property and casualty insurance premiums

 

–

 

46,456

 

–

 

–

 

 

46,456

Net investment and interest income

 

13,644

 

12,819

 

59,051

 

(786)

(b)

 

84,728

Other revenue

 

156,154

 

–

 

4,502

 

(457)

(b)

 

160,199

Total revenues

 

2,800,438

 

59,275

 

219,656

 

(4,838)

 

 

3,074,531

 

 

 

 

 

 

 

 

 

 

 

 

Costs and expenses:

 

 

 

 

 

 

 

 

 

 

 

Operating expenses

 

1,436,145

 

24,802

 

22,476

 

(4,014)

(b,c)

 

1,479,409

Commission expenses

 

249,642

 

–

 

–

 

–

 

 

249,642

Cost of sales

 

146,072

 

–

 

–

 

–

 

 

146,072

Benefits and losses

 

–

 

10,996

 

147,764

 

–

 

 

158,760

Amortization of deferred policy acquisition costs

 

–

 

–

 

19,661

 

–

 

 

19,661

Lease expense

 

79,984

 

–

 

–

 

(186)

(b)

 

79,798

Depreciation, net of (gains) losses on disposals

 

278,165

 

–

 

–

 

–

 

 

278,165

Total costs and expenses

 

2,190,008

 

35,798

 

189,901

 

(4,200)

 

 

2,411,507

 

 

 

 

 

 

 

 

 

 

 

 

Earnings from operations before equity in earnings of subsidiaries

 

610,430

 

23,477

 

29,755

 

(638)

 

 

663,024

 

 

 

 

 

 

 

 

 

 

 

 

Equity in earnings of subsidiaries

 

34,783

 

–

 

–

 

(34,783)

(d)

 

–

 

 

 

 

 

 

 

 

 

 

 

 

Earnings from operations

 

645,213

 

23,477

 

29,755

 

(35,421)

 

 

663,024

Interest expense

 

(98,163)

 

–

 

–

 

638

(b)

 

(97,525)

Fees and amortization on early extinguishment of debt

 

(4,081)

 

–

 

–

 

–

 

 

(4,081)

Pretax earnings

 

542,969

 

23,477

 

29,755

 

(34,783)

 

 

561,418

Income tax expense

 

(186,228)

 

(8,060)

 

(10,389)

 

–

 

 

(204,677)

Earnings available to common shareholders

$

356,741

$

15,417

$

19,366

$

(34,783)

 

$

356,741

 

 

 

 

 

 

 

 

 

 

 

 

(a)  Balances for the year ended December 31, 2014

 

 

 

 

 

 

 

 

 

 

 

(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, 2014 are as follows:

 

 

 

 

 

 

 

 

 

 

Moving & Storage

Consolidated

 

Property & Casualty Insurance (a)

 

Life

Insurance (a)

 

Eliminations

 

 

AMERCO

Consolidated

 

 

(In thousands)

Revenues:

 

 

 

 

 

 

 

 

 

 

 

Self-moving equipment rentals

$

1,958,209

$

–

$

–

$

(2,786)

(c)

$

1,955,423

Self-storage revenues

 

181,794

 

–

 

–

 

–

 

 

181,794

Self-moving & self-storage products & service sales

 

234,187

 

–

 

–

 

–

 

 

234,187

Property management fees

 

24,493

 

–

 

–

 

–

 

 

24,493

Life insurance premiums

 

–

 

–

 

157,919

 

–

 

 

157,919

Property and casualty insurance premiums

 

–

 

41,052

 

–

 

–

 

 

41,052

Net investment and interest income

 

15,212

 

10,592

 

54,398

 

(611)

(b)

 

79,591

Other revenue

 

158,055

 

–

 

3,211

 

(473)

(b)

 

160,793

Total revenues

 

2,571,950

 

51,644

 

215,528

 

(3,870)

 

 

2,835,252

 

 

 

 

 

 

 

 

 

 

 

 

Costs and expenses:

 

 

 

 

 

 

 

 

 

 

 

Operating expenses

 

1,272,406

 

20,799

 

23,686

 

(3,217)

(b,c)

 

1,313,674

Commission expenses

 

227,332

 

–

 

–

 

–

 

 

227,332

Cost of sales

 

127,270

 

–

 

–

 

–

 

 

127,270

Benefits and losses

 

–

 

11,513

 

145,189

 

–

 

 

156,702

Amortization of deferred policy acquisition costs

 

–

 

–

 

19,982

 

–

 

 

19,982

Lease expense

 

100,649

 

–

 

–

 

(183)

(b)

 

100,466

Depreciation, net of (gains) losses on disposals

 

259,612

 

–

 

–

 

–

 

 

259,612

Total costs and expenses

 

1,987,269

 

32,312

 

188,857

 

(3,400)

 

 

2,205,038

 

 

 

 

 

 

 

 

 

 

 

 

Earnings from operations before equity in earnings of subsidiaries

 

584,681

 

19,332

 

26,671

 

(470)

 

 

630,214

 

 

 

 

 

 

 

 

 

 

 

 

Equity in earnings of subsidiaries

 

29,992

 

–

 

–

 

(29,992)

(d)

 

–

 

 

 

 

 

 

 

 

 

 

 

 

Earnings from operations

 

614,673

 

19,332

 

26,671

 

(30,462)

 

 

630,214

Interest expense

 

(93,162)

 

–

 

–

 

470

(b)

 

(92,692)

Pretax earnings

 

521,511

 

19,332

 

26,671

 

(29,992)

 

 

537,522

Income tax expense

 

(179,120)

 

(6,670)

 

(9,341)

 

–

 

 

(195,131)

Earnings available to common shareholders

$

342,391

$

12,662

$

17,330

$

(29,992)

 

$

342,391

 

 

 

 

 

 

 

 

 

 

 

 

(a)  Balances for the year ended December 31, 2013

 

 

 

 

 

 

 

 

 

 

 

(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, 2013 are as follows:

 

 

 

 

 

 

 

 

 

 

Moving & Storage

Consolidated

 

Property & Casualty Insurance (a)

 

Life

Insurance (a)

 

Eliminations

 

 

AMERCO

Consolidated

 

 

(In thousands)

Revenues:

 

 

 

 

 

 

 

 

 

 

 

Self-moving equipment rentals

$

1,769,058

$

–

$

–

$

(1,538)

(c)

$

1,767,520

Self-storage revenues

 

152,660

 

–

 

–

 

–

 

 

152,660

Self-moving & self-storage products & service sales

 

221,117

 

–

 

–

 

–

 

 

221,117

Property management fees

 

24,378

 

–

 

–

 

–

 

 

24,378

Life insurance premiums

 

–

 

–

 

178,115

 

–

 

 

178,115

Property and casualty insurance premiums

 

–

 

34,342

 

–

 

–

 

 

34,342

Net investment and interest income

 

18,622

 

13,858

 

50,850

 

(427)

(b)

 

82,903

Other revenue

 

96,507

 

–

 

2,525

 

(1,480)

(b)

 

97,552

Total revenues

 

2,282,342

 

48,200

 

231,490

 

(3,445)

 

 

2,558,587

 

 

 

 

 

 

 

 

 

 

 

 

Costs and expenses:

 

 

 

 

 

 

 

 

 

 

 

Operating expenses

 

1,152,429

 

18,007

 

26,482

 

(2,984)

(b,c)

 

1,193,934

Commission expenses

 

204,758

 

–

 

–

 

–

 

 

204,758

Cost of sales

 

107,216

 

–

 

–

 

–

 

 

107,216

Benefits and losses

 

–

 

15,999

 

164,677

 

–

 

 

180,676

Amortization of deferred policy acquisition costs

 

–

 

–

 

17,376

 

–

 

 

17,376

Lease expense

 

117,615

 

–

 

–

 

(167)

(b)

 

117,448

Depreciation, net of (gains) losses on disposals

 

237,996

 

–

 

–

 

–

 

 

237,996

Total costs and expenses

 

1,820,014

 

34,006

 

208,535

 

(3,151)

 

 

2,059,404

 

 

 

 

 

 

 

 

 

 

 

 

Earnings from operations before equity in earnings of subsidiaries

 

462,328

 

14,194

 

22,955

 

(294)

 

 

499,183

 

 

 

 

 

 

 

 

 

 

 

 

Equity in earnings of subsidiaries

 

24,241

 

–

 

–

 

(24,241)

(d)

 

–

 

 

 

 

 

 

 

 

 

 

 

 

Earnings from operations

 

486,569

 

14,194

 

22,955

 

(24,535)

 

 

499,183

Interest expense

 

(90,990)

 

–

 

–

 

294

(b)

 

(90,696)

Pretax earnings

 

395,579

 

14,194

 

22,955

 

(24,241)

 

 

408,487

Income tax expense

 

(130,871)

 

(4,938)

 

(7,970)

 

–

 

 

(143,779)

Earnings available to common shareholders

$

264,708

$

9,256

$

14,985

$

(24,241)

 

$

264,708

 

 

 

 

 

 

 

 

 

 

 

 

(a)  Balances for the year ended December 31, 2012

 

 

 

 

 

 

 

 

 

 

 

(b) Eliminate intercompany lease/interest income

 

 

 

 

 

 

 

 

 

 

 

(c) Eliminate intercompany premiums

 

 

 

 

 

 

 

 

 

 

 

(d) Eliminate equity in earnings of subsidiaries