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Contingent Liabilities and Commitments | 12 Months Ended
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Mar. 31, 2013
Commitments and Contingencies Disclosure [Abstract] |
Note 18. Contingent Liabilities and Commitments | Note 18. Contingent Liabilities and Commitments We lease a portion of our rental equipment and certain of our facilities under operating leases with terms that expire at various dates substantially through 2019. As of March 31, 2013, AMERCO has guaranteed $117.9 million of residual values for these rental equipment assets at the end of the respective lease terms. Certain leases contain renewal and fair market value purchase options as well as mileage and other restrictions. At the expiration of the lease, we have the option to renew the lease, purchase the asset for fair market value, or sell the asset to a third party on behalf of the lessor. AMERCO has been leasing equipment since 1987 and has experienced no material losses relating to these types of residual value guarantees. Lease expenses were as follows:
|  | Years Ended March 31,
|  | 2012 |  | 2011 |  | 2010
|  | (In thousands)
Lease expense | $ | 117,448 | $ | 131,215 | $ | 150,809
Lease commitments for leases having terms of more than one year were as follows:
|  | Property, Plant and Equipment |  | Rental Equipment |  | Total
|  | (In thousands)
Year-ended March 31: |  |  |  |  |  |
2014 | $ | 13,691 | $ | 83,667 | $ | 97,358
2015 |  | 3,121 |  | 60,216 |  | 63,337
2016 |  | 940 |  | 32,455 |  | 33,395
2017 |  | 838 |  | 14,530 |  | 15,368
2018 |  | 663 |  | 11,061 |  | 11,724
Thereafter |  | 5,051 |  | 10,376 |  | 15,427
Total | $ | 24,304 | $ | 212,305 | $ | 236,609

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- Definition The entire disclosure for significant arrangements with third parties, which includes operating lease arrangements and arrangements in which the entity has agreed to expend funds to procure goods or services, or has agreed to commit resources to supply goods or services, and operating lease arrangements. Descriptions may include identification of the specific goods and services, period of time covered, minimum quantities and amounts, and cancellation rights. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 17 -Article 9 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.17) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.25) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.(a)(19)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 25 -Article 5 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 19 -Article 7 + Details
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