Consolidating Financial Information by Industry Segment (Table Text Block)

12 Months Ended

Mar. 31, 2017

Mar. 31, 2016

Mar. 31, 2015

Table Text Block Supplement [Abstract]

Consolidated Balance Sheet by Industry Segment

		Moving & Storage Consolidated		Property & Casualty Insurance (a)		Life Insurance (a)		Eliminations			AMERCO Consolidated
		(In thousands)
Assets:
Cash and cash equivalents	$	671,665	$	12,725	$	13,416	$	–		$	697,806
Reinsurance recoverables and trade receivables, net		41,234		107,757		29,090		–			178,081
Inventories, net		82,439		–		–		–			82,439
Prepaid expenses		124,728		–		–		–			124,728
Investments, fixed maturities and marketable equities		–		248,816		1,414,952		–			1,663,768
Investments, other		35,342		63,086		269,402		–			367,830
Deferred policy acquisition costs, net		–		–		130,213		–			130,213
Other assets		112,744		1,922		2,406		–			117,072
Related party assets		88,829		11,496		18,465		(32,622)	(c)		86,168
		1,156,981		445,802		1,877,944		(32,622)			3,448,105
Investment in subsidiaries		477,058		–		–		(477,058)	(b)		–
Property, plant and equipment, at cost:
Land		640,938		–		–		–			640,938
Buildings and improvements		2,606,537		–		–		–			2,606,537
Furniture and equipment		510,415		–		–		–			510,415
Rental trailers and other rental equipment		492,280		–		–		–			492,280
Rental trucks		4,091,598		–		–		–			4,091,598
		8,341,768		–		–		–			8,341,768
Less:  Accumulated depreciation		(2,384,033)		–		–		–			(2,384,033)
Total property, plant and equipment		5,957,735		–		–		–			5,957,735
Total assets	$	7,591,774	$	445,802	$	1,877,944	$	(509,680)		$	9,405,840
(a)  Balances as of December 31, 2016
(b) Eliminate investment in subsidiaries
(c) Eliminate intercompany receivables and payables

Consolidating balance sheets by industry segment as of March31, 2017 are as follows:

		Moving & Storage Consolidated		Property & Casualty Insurance (a)		Life Insurance (a)		Eliminations			AMERCO Consolidated
		(In thousands)
Liabilities:
Accounts payable and accrued expenses	$	441,667	$	1,926	$	6,948	$	–		$	450,541
Notes, loans and leases payable, net		3,262,880		–		–		–			3,262,880
Policy benefits and losses, claims and loss expenses payable		399,181		244,980		442,161		–			1,086,322
Liabilities from investment contracts		–		–		1,112,498		–			1,112,498
Other policyholders' funds and liabilities		–		4,184		5,966		–			10,150
Deferred income		28,696		–		–		–			28,696
Deferred income taxes		809,566		11,243		14,200		–			835,009
Related party liabilities		30,040		2,539		43		(32,622)	(c)		–
Total liabilities		4,972,030		264,872		1,581,816		(32,622)			6,786,096
Stockholders' equity :
Series preferred stock:
Series A preferred stock		–		–		–		–			–
Series B preferred stock		–		–		–		–			–
Series A common stock		–		–		–		–			–
Common stock		10,497		3,301		2,500		(5,801)	(b)		10,497
Additional paid-in capital		452,382		91,120		26,271		(117,601)	(b)		452,172
Accumulated other comprehensive income (loss)		(51,236)		6,166		16,933		(23,099)	(b)		(51,236)
Retained earnings		2,892,683		80,343		250,424		(330,557)	(b)		2,892,893
Cost of common shares in treasury, net		(525,653)		–		–		–			(525,653)
Cost of preferred shares in treasury, net		(151,997)		–		–		–			(151,997)
Unearned employee stock ownership plan shares		(6,932)		–		–		–			(6,932)
Total stockholders' equity		2,619,744		180,930		296,128		(477,058)			2,619,744
Total liabilities and stockholders' equity	$	7,591,774	$	445,802	$	1,877,944	$	(509,680)		$	9,405,840
(a)  Balances as of December 31, 2016

		Moving & Storage Consolidated		Property & Casualty Insurance (a)		Life Insurance (a)		Eliminations			AMERCO Consolidated
		(In thousands)
Assets:
Cash and cash equivalents	$	585,666	$	14,049	$	931	$	–		$	600,646
Reinsurance recoverables and trade receivables, net		34,451		111,978		28,706		–			175,135
Inventories, net		79,756		–		–		–			79,756
Prepaid expenses		134,300		–		–		–			134,300
Investments, fixed maturities and marketable equities		–		238,570		1,252,219		–			1,490,789
Investments, other		21,431		47,374		243,016		–			311,821
Deferred policy acquisition costs, net		–		–		136,386		–			136,386
Other assets		71,719		3,088		2,403		–			77,210
Related party assets		88,022		12,465		18,688		(33,441)	(c)		85,734
		1,015,345		427,524		1,682,349		(33,441)			3,091,777
Investment in subsidiaries		432,277		–		–		(432,277)	(b)		–
Property, plant and equipment, at cost:
Land		587,347		–		–		–			587,347
Buildings and improvements		2,187,400		–		–		–			2,187,400
Furniture and equipment		399,943		–		–		–			399,943
Rental trailers and other rental equipment		462,379		–		–		–			462,379
Rental trucks		3,514,175		–		–		–			3,514,175
		7,151,244		–		–		–			7,151,244
Less:  Accumulated depreciation		(2,133,733)		–		–		–			(2,133,733)
Total property, plant and equipment		5,017,511		–		–		–			5,017,511
Total assets	$	6,465,133	$	427,524	$	1,682,349	$	(465,718)		$	8,109,288
(a)  Balances as of December 31, 2015
(b) Eliminate investment in subsidiaries
(c) Eliminate intercompany receivables and payables

Consolidating balance sheets by industry segment as of March 31, 2016 are as follows:

		Moving & Storage Consolidated		Property & Casualty Insurance (a)		Life Insurance (a)		Eliminations			AMERCO Consolidated
		(In thousands)
Liabilities:
Accounts payable and accrued expenses	$	492,907	$	1,535	$	8,096	$	–		$	502,538
Notes, loans and leases payable, net		2,647,396		–		–		–			2,647,396
Policy benefits and losses, claims and loss expenses payable		386,366		252,819		432,227		–			1,071,412
Liabilities from investment contracts		–		–		951,490		–			951,490
Other policyholders' funds and liabilities		–		3,017		5,633		–			8,650
Deferred income		22,784		–		–		–			22,784
Deferred income taxes		633,061		7,526		13,025		–			653,612
Related party liabilities		31,213		2,067		161		(33,441)	(c)		–
Total liabilities		4,213,727		266,964		1,410,632		(33,441)			5,857,882
Stockholders' equity :
Series preferred stock:
Series A preferred stock		–		–		–		–			–
Series B preferred stock		–		–		–		–			–
Series A common stock		–		–		–		–			–
Common stock		10,497		3,301		2,500		(5,801)	(b)		10,497
Additional paid-in capital		451,839		91,120		26,271		(117,601)	(b)		451,629
Accumulated other comprehensive income (loss)		(60,525)		3,611		10,504		(14,115)	(b)		(60,525)
Retained earnings (deficit)		2,533,431		62,528		232,442		(294,760)	(b)		2,533,641
Cost of common shares in treasury, net		(525,653)		–		–		–			(525,653)
Cost of preferred shares in treasury, net		(151,997)		–		–		–			(151,997)
Unearned employee stock ownership plan shares		(6,186)		–		–		–			(6,186)
Total stockholders' equity (deficit)	$	2,251,406		160,560		271,717		(432,277)			2,251,406
Total liabilities and stockholders' equity		6,465,133	$	427,524	$	1,682,349	$	(465,718)		$	8,109,288
(a)  Balances as of December 31, 2015
(b) Eliminate investment in subsidiaries
(c) Eliminate intercompany receivables and payables

Consolidated Statement of Operations by Industry Segment

		Moving & Storage Consolidated		Property & Casualty Insurance (a)		Life Insurance (a)		Eliminations			AMERCO Consolidated
		(In thousands)
Revenues:
Self-moving equipment rentals	$	2,366,526	$	–	$	–	$	(3,693)	(c)	$	2,362,833
Self-storage revenues		286,886		–		–		–			286,886
Self-moving & self-storage products & service sales		253,073		–		–		–			253,073
Property management fees		29,075		–		–		–			29,075
Life insurance premiums		–		–		163,579		–			163,579
Property and casualty insurance premiums		–		52,334		–		–			52,334
Net investment and interest income		9,688		16,652		77,540		(1,604)	(b)		102,276
Other revenue		167,752		–		4,480		(521)	(b)		171,711
Total revenues		3,113,000		68,986		245,599		(5,818)			3,421,767
Costs and expenses:
Operating expenses		1,521,408		28,421		22,429		(4,175)	(b,c)		1,568,083
Commission expenses		267,230		–		–		–			267,230
Cost of sales		152,485		–		–		–			152,485
Benefits and losses		–		13,404		169,306		–			182,710
Amortization of deferred policy acquisition costs		–		–		26,218		–			26,218
Lease expense		37,529		–		–		(186)	(b)		37,343
Depreciation, net of (gains) losses on disposals		445,435		–		–		–			445,435
Total costs and expenses		2,424,087		41,825		217,953		(4,361)			2,679,504
Earnings from operations before equity in earnings of subsidiaries		688,913		27,161		27,646		(1,457)			742,263
Equity in earnings of subsidiaries		35,797		–		–		(35,797)	(d)		–
Earnings from operations		724,710		27,161		27,646		(37,254)			742,263
Interest expense		(114,863)		–		–		1,457	(b)		(113,406)
Fees and amortization on early extinguished of debt		(499)		–		–		–			(499)
Pretax earnings		609,348		27,161		27,646		(35,797)			628,358
Income tax expense		(210,924)		(9,346)		(9,664)		–			(229,934)
Earnings available to common shareholders	$	398,424	$	17,815	$	17,982	$	(35,797)		$	398,424
(a)  Balances for the year ended December 31, 2016
(b) Eliminate intercompany lease / interest income
(c) Eliminate intercompany premiums
(d) Eliminate equity in earnings of subsidiaries

		Moving & Storage Consolidated		Property & Casualty Insurance (a)		Life Insurance (a)		Eliminations			AMERCO Consolidated
		(In thousands)
Revenues:
Self-moving equipment rentals	$	2,301,586	$	–	$	–	$	(3,606)	(c)	$	2,297,980
Self-storage revenues		247,944		–		–		–			247,944
Self-moving & self-storage products & service sales		251,541		–		–		–			251,541
Property management fees		26,533		–		–		–			26,533
Life insurance premiums		–		–		162,662		–			162,662
Property and casualty insurance premiums		–		50,020		–		–			50,020
Net investment and interest income		8,801		14,783		63,999		(966)	(b)		86,617
Other revenue		148,099		–		4,559		(487)	(b)		152,171
Total revenues		2,984,504		64,803		231,220		(5,059)			3,275,468
Costs and expenses:
Operating expenses		1,423,107		27,958		23,037		(4,055)	(b,c)		1,470,047
Commission expenses		262,627		–		–		–			262,627
Cost of sales		144,990		–		–		–			144,990
Benefits and losses		–		12,298		155,138		–			167,436
Amortization of deferred policy acquisition costs		–		–		23,272		–			23,272
Lease expense		49,966		–		–		(186)	(b)		49,780
Depreciation, net of (gains) losses on disposals		290,690		–		–		–			290,690
Total costs and expenses		2,171,380		40,256		201,447		(4,241)			2,408,842
Earnings from operations before equity in earnings of subsidiaries		813,124		24,547		29,773		(818)			866,626
Equity in earnings of subsidiaries		35,522		–		–		(35,522)	(d)		–
Earnings from operations		848,646		24,547		29,773		(36,340)			866,626
Interest expense		(98,533)		–		–		818	(b)		(97,715)
Pretax earnings		750,113		24,547		29,773		(35,522)			768,911
Income tax expense		(261,112)		(8,379)		(10,419)		–			(279,910)
Earnings available to common shareholders	$	489,001	$	16,168	$	19,354	$	(35,522)		$	489,001
(a)  Balances for the year ended December 31, 2015
(b) Eliminate intercompany lease/interest income
(c) Eliminate intercompany premiums
(d) Eliminate equity in earnings of subsidiaries

		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 extinguished 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

Consolidated Cash Flow Statement by Industry Segment

		Moving & Storage Consolidated		Property & Casualty Insurance (a)		Life Insurance (a)		Elimination		AMERCO Consolidated
		(In thousands)
Cash flows from operating activities:
Net earnings	$	398,424	$	17,815	$	17,982	$	(35,797)	$	398,424
Earnings from consolidated subsidiaries		(35,797)		–		–		35,797		–
Adjustments to reconcile net earnings to the cash provided by operations:
Depreciation		481,520		–		–		–		481,520
Amortization of deferred policy acquisition costs		–		–		26,218		–		26,218
Amortization of debt issuance costs		4,062		–		–		–		4,062
Interest credited to policyholders		–		–		25,020		–		25,020
Change in allowance for losses on trade receivables		31		–		(77)		–		(46)
Change in allowance for inventory reserve		1,330		–		–		–		1,330
Net gain on sale of real and personal property		(36,085)		–		–		–		(36,085)
Net gain on sale of investments		–		(2,636)		(2,648)		–		(5,284)
Deferred income taxes		173,059		2,340		(2,287)		–		173,112
Net change in other operating assets and liabilities:
Reinsurance recoverables and trade receivables		(6,806)		4,221		(305)		–		(2,890)
Inventories		(4,072)		–		–		–		(4,072)
Prepaid expenses		9,386		–		–		–		9,386
Capitalization of deferred policy acquisition costs		–		–		(27,111)		–		(27,111)
Other assets		(41,885)		1,341		(2)		–		(40,546)
Related party assets		(872)		1,215		–		–		343
Accounts payable and accrued expenses		(14,793)		392		9,345		–		(5,056)
Policy benefits and losses, claims and loss expenses payable		13,283		(7,838)		9,933		–		15,378
Other policyholders' funds and liabilities		–		1,167		332		–		1,499
Deferred income		5,921		–		–		–		5,921
Related party liabilities		(1,170)		226		(118)		–		(1,062)
Net cash provided (used) by operating activities		945,536		18,243		56,282		–		1,020,061
Cash flows from investing activities:
Purchases of:
Property, plant and equipment		(1,419,505)		–		–		–		(1,419,505)
Short term investments		–		(77,693)		(558,154)		–		(635,847)
Fixed maturities investments		–		(42,628)		(312,473)		–		(355,101)
Equity securities		–		–		(489)		–		(489)
Real estate		(19,406)		(4,648)		(8,753)		–		(32,807)
Mortgage loans		–		(21,021)		(133,289)		–		(154,310)
Proceeds from sales and paydowns of:
Property, plant and equipment		487,475		–		–		–		487,475
Short term investments		–		80,225		575,501		–		655,726
Fixed maturities investments		–		32,127		158,451		–		190,578
Preferred stock		–		4,181		–		–		4,181
Real estate		6,275		–		2,478		–		8,753
Mortgage loans		–		9,890		96,942		–		106,832
Net cash provided (used) by investing activities		(945,161)		(19,567)		(179,786)		–		(1,144,514)
		(page 1 of 2)
(a) Balance for the period ended December 31, 2016

Continuation of consolidating cash flow statements by industry segment for the year ended March 31, 2017, are as follows:

		Moving & Storage Consolidated		Property & Casualty Insurance (a)		Life Insurance (a)		Elimination		AMERCO Consolidated
		(In thousands)
Cash flows from financing activities:
Borrowings from credit facilities		715,625		–		27,000		–		742,625
Principal repayments on credit facilities		(340,844)		–		(27,000)		–		(367,844)
Payment of debt issuance costs		(5,055)		–		–		–		(5,055)
Capital lease payments		(212,545)		–		–		–		(212,545)
Employee Stock Ownership Plan Shares		(11,106)		–		–		–		(11,106)
Securitization deposits		446		–		–		–		446
Common stock dividends paid		(58,757)		–		–		–		(58,757)
Investment contract deposits		–		–		285,148		–		285,148
Investment contract withdrawals		–		–		(149,159)		–		(149,159)
Net cash provided (used) by financing activities		87,764		–		135,989		–		223,753
Effects of exchange rate on cash		(2,140)		–		–		–		(2,140)
Decrease in cash and cash equivalents		85,999		(1,324)		12,485		–		97,160
Cash and cash equivalents at beginning of period		585,666		14,049		931		–		600,646
Cash and cash equivalents at end of period	$	671,665	$	12,725	$	13,416	$	–	$	697,806
		(page 2 of 2)
(a) Balance for the period ended December 31, 2016

		Moving & Storage Consolidated		Property & Casualty Insurance (a)		Life Insurance (a)		Elimination			AMERCO Consolidated
		(In thousands)
Cash flows from operating activities:
Net earnings	$	489,001	$	16,168	$	19,354	$	(35,522)		$	489,001
Earnings from consolidated subsidiaries		(35,522)		–		–		35,522			–
Adjustments to reconcile net earnings to the cash provided by operations:
Depreciation		389,393		–		–		–			389,393
Amortization of deferred policy acquisition costs		–		–		23,272		–			23,272
Amortization of debt issuance costs		3,419		–		–		–			3,419
Interest credited to policyholders		–		–		20,465		–			20,465
Change in allowance for losses on trade receivables		7		–		(212)		–			(205)
Change in allowance for inventory reserve		(1,343)		–		–		–			(1,343)
Net gain on sale of real and personal property		(98,703)		–		–		–			(98,703)
Net gain on sale of investments		–		(1,317)		(3,174)		–			(4,491)
Deferred income taxes		124,838		9,311		3,926		–			138,075
Net change in other operating assets and liabilities:
Reinsurance recoverables and trade receivables		(2,169)		13,528		3,406		–			14,765
Inventories		(9,009)		–		–		–			(9,009)
Prepaid expenses		(10,338)		–		–		–			(10,338)
Capitalization of deferred policy acquisition costs		–		–		(32,590)		–			(32,590)
Other assets		12,812		(1,050)		141		–			11,903
Related party assets		55,962		682		(18,075)		18,075	(b)		56,644
Accounts payable and accrued expenses		26,018		1,533		9,761		–			37,312
Policy benefits and losses, claims and loss expenses payable		23,215		(18,925)		5,336		–			9,626
Other policyholders' funds and liabilities		–		(1,056)		707		–			(349)
Deferred income		4,757		–		–		–			4,757
Related party liabilities		17,296		115		48		(18,075)	(b)		(616)
Net cash provided (used) by operating activities		989,634		18,989		32,365		–			1,040,988
Cash flows from investing activities:
Purchases of:
Property, plant and equipment		(1,509,154)		–		–		–			(1,509,154)
Short term investments		–		(44,735)		(471,164)		–			(515,899)
Fixed maturities investments		–		(45,048)		(353,939)		–			(398,987)
Equity securities		–		–		(1,315)		–			(1,315)
Preferred stock		–		(1,005)		–		–			(1,005)
Real estate		(15,384)		(36)		(39)		–			(15,459)
Mortgage loans		–		(1,800)		(85,404)		–			(87,204)
Proceeds from sales and paydowns of:
Property, plant and equipment		539,256		–		–		–			539,256
Short term investments		–		44,756		483,424		–			528,180
Fixed maturities investments		–		26,193		128,343		–			154,536
Equity securities		–		1,236		808		–			2,044
Preferred stock		–		1,126		–		–			1,126
Real estate		21,589		–		–		–			21,589
Mortgage loans		–		5,878		21,090		–			26,968
Net cash provided (used) by investing activities		(963,693)		(13,435)		(278,196)		–			(1,255,324)
		(page 1 of 2)
(a) Balance for the period ended December 31, 2015
(b) Eliminate intercompany investments

Continuation of consolidating cash flow statements by industry segment for the year ended March 31, 2016, are as follows:

		Moving & Storage Consolidated		Property & Casualty Insurance (a)		Life Insurance (a)		Elimination		AMERCO Consolidated
		(In thousands)
Cash flows from financing activities:
Borrowings from credit facilities		790,972		–		47,000		–		837,972
Principal repayments on credit facilities		(381,403)		–		(47,000)		–		(428,403)
Payment of debt issuance costs		(10,184)		–		–		–		(10,184)
Capital lease payments		(168,661)		–		–		–		(168,661)
Employee Stock Ownership Plan Shares		(9,302)		–		–		–		(9,302)
Securitization deposits		544		–		–		–		544
Common stock dividends paid		(78,374)		–		–		–		(78,374)
Investment contract deposits		–		–		358,237		–		358,237
Investment contract withdrawals		–		–		(112,957)		–		(112,957)
Net cash provided (used) by financing activities		143,592		–		245,280		–		388,872
Effects of exchange rate on cash		(15,740)		–		–		–		(15,740)
Increase (decrease) in cash and cash equivalents		153,793		5,554		(551)		–		158,796
Cash and cash equivalents at beginning of period		431,873		8,495		1,482		–		441,850
Cash and cash equivalents at end of period	$	585,666	$	14,049	$	931	$	–	$	600,646
		(page 2 of 2)
(a) Balance for the period ended December 31, 2015

		Moving & Storage Consolidated		Property & Casualty Insurance (a)		Life Insurance (a)		Elimination			AMERCO Consolidated
		(In thousands)
Cash flows from operating activities:
Net earnings	$	356,741	$	15,417	$	19,366	$	(34,783)		$	356,741
Earnings from consolidated subsidiaries		(34,783)		–		–		34,783			–
Adjustments to reconcile net earnings to the cash provided by operations:
Depreciation		352,796		–		–		–			352,796
Amortization of deferred policy acquisition costs		–		–		19,661		–			19,661
Amortization of debt issuance costs		3,786		–		–		–			3,786
Interest credited to policyholders		–		–		18,110		–			18,110
Change in allowance for losses on trade receivables		(179)		–		11		–			(168)
Change in allowance for inventory reserve		(872)		–		–		–			(872)
Net gain on sale of real and personal property		(74,631)		–		–		–			(74,631)
Net gain on sale of investments		–		(841)		(3,084)		–			(3,925)
Deferred income taxes		66,628		8,030		1,842		–			76,500
Net change in other operating assets and liabilities:
Reinsurance recoverables and trade receivables		(3,213)		16,830		(3,985)		–			9,632
Inventories		(1,579)		–		–		–			(1,579)
Prepaid expenses		(65,720)		–		–		–			(65,720)
Capitalization of deferred policy acquisition costs		–		–		(27,084)		–			(27,084)
Other assets		651		102		(804)		–			(51)
Related party assets		27,753		(258)		–		211	(b)		27,706
Accounts payable and accrued expenses		91,409		22		7,446		–			98,877
Policy benefits and losses, claims and loss expenses payable		(4,327)		(23,472)		10,178		–			(17,621)
Other policyholders' funds and liabilities		–		317		671		–			988
Deferred income		(13,181)		–		–		–			(13,181)
Related party liabilities		(1,016)		428		(67)		(211)	(b)		(866)
Net cash provided (used) by operating activities		700,263		16,575		42,261		–			759,099
Cash flows from investing activities:
Purchases of:
Property, plant and equipment		(1,041,931)		–		–		–			(1,041,931)
Short term investments		–		(40,583)		(249,796)		–			(290,379)
Fixed maturities investments		–		(43,062)		(171,309)		–			(214,371)
Equity securities		–		(3,333)		(426)		–			(3,759)
Preferred stock		–		(1,006)		(1,000)		–			(2,006)
Real estate		(22,876)		(7,857)		(7,542)		–			(38,275)
Mortgage loans		–		(4,350)		(15,457)		–			(19,807)
Proceeds from sales and paydowns of:
Property, plant and equipment		411,629		–		–		–			411,629
Short term investments		–		53,112		234,771		–			287,883
Fixed maturities investments		–		18,556		89,311		–			107,867
Equity securities		–		3,082		–		–			3,082
Preferred stock		–		400		2,027		–			2,427
Real estate		28,089		–		396		–			28,485
Mortgage loans		–		4,203		9,691		–			13,894
Net cash provided (used) by investing activities		(625,089)		(20,838)		(109,334)		–			(755,261)
		(page 1 of 2)
(a) Balance for the period ended December 31, 2014
(b) Eliminate intercompany investments

Continuation of consolidating cash flow statements by industry segment for the year ended March 31, 2015 are as follows:

		Moving & Storage Consolidated		Property & Casualty Insurance (a)		Life Insurance (a)		Elimination		AMERCO Consolidated
		(In thousands)
Cash flows from financing activities:
Borrowings from credit facilities		657,535		–		–		–		657,535
Principal repayments on credit facilities		(593,722)		–		–		–		(593,722)
Payment of debt issuance costs		(12,327)		–		–		–		(12,327)
Capital lease payments		(121,202)		–		–		–		(121,202)
Employee Stock Ownership Plan Shares		(7,939)		–		–		–		(7,939)
Common stock dividends paid		(19,594)		–		–		–		(19,594)
Investment contract deposits		–		–		105,019		–		105,019
Investment contract withdrawals		–		–		(54,108)		–		(54,108)
Net cash provided (used) by financing activities		(97,249)		–		50,911		–		(46,338)
Effects of exchange rate on cash		(10,762)		–		–		–		(10,762)
Increase (decrease) in cash and cash equivalents		(32,837)		(4,263)		(16,162)		–		(53,262)
Cash and cash equivalents at beginning of period		464,710		12,758		17,644		–		495,112
Cash and cash equivalents at end of period	$	431,873	$	8,495	$	1,482	$	–	$	441,850
		(page 2 of 2)
(a) Balance for the period ended December 31, 2014