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Subsequent Events | 3 Months Ended
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Jun. 30, 2017
Subsequent Events [Abstract] |
16. Subsequent Events | Real Estate Agreement On July 25, 2017, Real Estate further amended its Purchase and Sale Agreement with 23 rd and 11 th Associate, L.L.C., for the sale of a portion of Real Estate’s real property and improvements thereon located in Manhattan, New York to change the closing date to September 2017, with the ability of either party to further extend the closing date to October 2017. Real Estate will maintain ownership of one building at the Manhattan location thus allowing U-Haul to serve the equipment rental needs of our customers in the area. Real Estate’s book value of the property being sold is approximately $5 million. The Company continues to intend to reinvest the proceeds into its s elf-storage holdings via a tax free exchange pursuant to Section 1031 of the Internal Revenue Code. Financial Strength Rating In August 2017, A.M. Best upgraded the financial strength rating (FSR) for Repwest Insurance Company to B (plus plus) from B (plus). The FSR outlook remains stable. In addition, A.M. Best upgraded the long-term issuer credit rating (LTICR) to bbb from bbb (minus). The LTICR outlook has been revised to positive from stable.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
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