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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. |  |  |  |  |  |  |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=7656940&loc=d3e5283-111683 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 12 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 + Details
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