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Consolidating Financial Information By Industry Segment (Table Text Block) | 3 Months Ended
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Jun. 30, 2017 | Mar. 31, 2017 | Jun. 30, 2016
Table Text Block Supplement [Abstract] |  |  |
Consolidated Balance Sheet by Industry Segment | Consolidating balance sheets by industry segment as of June 30, 2017 are as follows:
|  | Moving & Storage Consolidated |  | Property & Casualty Insurance (a) |  | Life Insurance (a) |  | Eliminations |  |  | AMERCO Consolidated
|  | (Unaudited)
|  | (In thousands)
Assets: |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 748,823 | $ | 8,291 | $ | 46,408 | $ | – |  | $ | 803,522
Reinsurance recoverables and trade receivables, net |  | 52,275 |  | 103,382 |  | 31,380 |  | – |  |  | 187,037
Inventories, net |  | 93,374 |  | – |  | – |  | – |  |  | 93,374
Prepaid expenses |  | 80,118 |  | – |  | – |  | – |  |  | 80,118
Investments, fixed maturities and marketable equities |  | – |  | 259,126 |  | 1,503,905 |  | – |  |  | 1,763,031
Investments, other |  | 33,183 |  | 63,337 |  | 279,704 |  | – |  |  | 376,224
Deferred policy acquisition costs, net |  | – |  | – |  | 128,878 |  | – |  |  | 128,878
Other assets |  | 96,466 |  | 589 |  | 2,495 |  | – |  |  | 99,550
Related party assets |  | 81,146 |  | 11,380 |  | 18,428 |  | (30,089) | (c) |  | 80,865
|  | 1,1 85,385 |  | 446,105 |  | 2,011,198 |  | (30,089) |  |  | 3,612,599
Investment in subsidiaries |  | 489,779 |  | – |  | – |  | (489,779) | (b) |  | –
Property, plant and equipment, at cost: |  |  |  |  |  |  |  |  |  |  |
Land |  | 661,622 |  | – |  | – |  | – |  |  | 661,622
Buildings and improvements |  | 2,710,924 |  | – |  | – |  | – |  |  | 2,710,924
Furniture and equipment |  | 529,374 |  | – |  | – |  | – |  |  | 529,374
Rental trailers and other rental equipment |  | 515,733 |  | – |  | – |  | – |  |  | 515,733
Rental trucks |  | 4,228,778 |  | – |  | – |  | – |  |  | 4,228,778
|  | 8,646,431 |  | – |  | – |  | – |  |  | 8,646,431
Less: Accumulated depreciation |  | (2,457,890) |  | – |  | – |  | – |  |  | (2,457,890)
Total property, plant and equipment |  | 6,188,541 |  | – |  | – |  | – |  |  | 6,188,541
Total assets | $ | 7,863,705 | $ | 446,105 | $ | 2,011,198 | $ | (519,868) |  | $ | 9,801,140
(a) Balances as of March 31, 2017 |  |  |  |  |  |  |  |  |  |  |
(b) Eliminate investment in subsidiaries |  |  |  |  |  |  |  |  |  |  |
(c) Eliminate intercompany receivables and payables |  |  |  |  |  |  |  |  |  |  |
|  | Moving & Storage Consolidated |  | Property & Casualty Insurance (a) |  | Life Insurance (a) |  | Eliminations |  |  | AMERCO Consolidated
|  | (Unaudited)
|  | (In thousands)
Liabilities: |  |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued expenses | $ | 415,785 | $ | 3,178 | $ | 13,159 | $ | – |  | $ | 432,122
Notes, loans and leases payable |  | 3,386,851 |  | – |  | – |  | – |  |  | 3,386,851
Policy benefits and losses, claims and loss expenses payable |  | 406,786 |  | 238,930 |  | 445,834 |  | – |  |  | 1,091,550
Liabilities from investment contracts |  | – |  | – |  | 1,221,381 |  | – |  |  | 1,221,381
Other policyholders' funds and liabilities |  | – |  | 4,284 |  | 9,948 |  | – |  |  | 14,232
Deferred income |  | 37,135 |  | – |  | – |  | – |  |  | 37,135
Deferred income taxes |  | 826,856 |  | 10,924 |  | 17,025 |  | – |  |  | 854,805
Related party liabilities |  | 27,228 |  | 2,421 |  | 440 |  | (30,089) | (c) |  | –
Total liabilities |  | 5,100,641 |  | 259,737 |  | 1,707,787 |  | (30,089) |  |  | 7,038,076
Stockholders' equity : |  |  |  |  |  |  |  |  |  |  |
Series preferred stock: |  |  |  |  |  |  |  |  |  |  |
Series A preferred stock |  | – |  | – |  | – |  | – |  |  | –
Series B preferred stock |  | – |  | – |  | – |  | – |  |  | –
Serial common stock |  | – |  | – |  | – |  | – |  |  | –
Common stock |  | 10,497 |  | 3,301 |  | 2,500 |  | (5,801) | (b) |  | 10,497
Additional paid-in capital |  | 452,529 |  | 91,120 |  | 26,271 |  | (117,601) | (b) |  | 452,319
Accumulated other comprehensive income (loss) |  | (35,098) |  | 8,030 |  | 21,980 |  | (30,010) | (b) |  | (35,098)
Retained earnings |  | 3,018,890 |  | 83,917 |  | 252,660 |  | (336,367) | (b) |  | 3,019,100
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 |  | (6,104) |  | – |  | – |  | – |  |  | (6,104)
Total stockholders' equity |  | 2,763,064 |  | 186,368 |  | 303,411 |  | (489,779) |  |  | 2,763,064
Total liabilities and stockholders' equity | $ | 7,863,705 | $ | 446,105 | $ | 2,011,198 | $ | (519,868) |  | $ | 9,801,140
(a) Balances as of March 31, 2017 |  |  |  |  |  |  |  |  |  |  |
(b) Eliminate investment in subsidiaries |  |  |  |  |  |  |  |  |  |  |
(c) Eliminate intercompany receivables and payables |  |  |  |  |  |  |  |  |  |  |
| Consolidating balance sheets by industry segment as of March 31, 2017 are as follows:
|  | 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 |  | 93,197 |  | 1,922 |  | 2,406 |  | – |  |  | 97,525
Related party assets |  | 88,829 |  | 11,496 |  | 18,465 |  | (32,622) | (c) |  | 86,168
|  | 1,137,434 |  | 445,802 |  | 1,877,944 |  | (32,622) |  |  | 3,428,558
Investment in subsidiaries |  | 477,058 |  | – |  | – |  | (477,058) | (b) |  | –
Property, plant and equipment, at cost: |  |  |  |  |  |  |  |  |  |  |
Land |  | 648,757 |  | – |  | – |  | – |  |  | 648,757
Buildings and improvements |  | 2,618,265 |  | – |  | – |  | – |  |  | 2,618,265
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
|  | 8,361,315 |  | – |  | – |  | – |  |  | 8,361,315
Less: Accumulated depreciation |  | (2,384,033) |  | – |  | – |  | – |  |  | (2,384,033)
Total property, plant and equipment |  | 5,977,282 |  | – |  | – |  | – |  |  | 5,977,282
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 |  |  |  |  |  |  |  |  |  |  |
|  | 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 |  | 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 |  |  |  |  |  |  |  |  |  |  |
(b) Eliminate investment in subsidiaries |  |  |  |  |  |  |  |  |  |  |
(c) Eliminate intercompany receivables and payables |  |  |  |  |  |  |  |  |  |  |
Consolidated Statement of Operations by Industry Segment | Consolidating statement of operations by industry segment for the quarter ended June 30, 2017 are as follows:
|  | Moving & Storage Consolidated |  | Property & Casualty Insurance (a) |  | Life Insurance (a) |  | Eliminations |  |  | AMERCO Consolidated
|  | (Unaudited)
|  | (In thousands)
Revenues: |  |  |  |  |  |  |  |  |  |  |
Self-moving equipment rentals | $ | 670,698 | $ | – | $ | – | $ | (840) | (c) | $ | 669,858
Self-storage revenues |  | 76,718 |  | – |  | – |  | – |  |  | 76,718
Self-moving and self-storage products and service sales |  | 78,911 |  | – |  | – |  | – |  |  | 78,911
Property management fees |  | 6,762 |  | – |  | – |  | – |  |  | 6,762
Life insurance premiums |  | – |  | – |  | 39,091 |  | – |  |  | 39,091
Property and casualty insurance premiums |  | – |  | 11,815 |  | – |  | – |  |  | 11,815
Net investment and interest income |  | 2,657 |  | 4,291 |  | 20,655 |  | (386) | (b) |  | 27,217
Other revenue |  | 46,781 |  | – |  | 910 |  | (138) | (b) |  | 47,553
Total revenues |  | 882,527 |  | 16,106 |  | 60,656 |  | (1,364) |  |  | 957,925
Costs and expenses: |  |  |  |  |  |  |  |  |  |  |
Operating expenses |  | 404,043 |  | 8,232 |  | 5,617 |  | (968) | (b,c) |  | 416,924
Commission expenses |  | 75,365 |  | – |  | – |  | – |  |  | 75,365
Cost of sales |  | 47,595 |  | – |  | – |  | – |  |  | 47,595
Benefits and losses |  | – |  | 2,438 |  | 45,282 |  | – |  |  | 47,720
Amortization of deferred policy acquisition costs |  | – |  | – |  | 6,321 |  | – |  |  | 6,321
Lease expense |  | 8,334 |  | – |  | – |  | (47) | (b) |  | 8,287
Depreciation, net of (gains) losses on disposals |  | 126,682 |  | – |  | – |  | – |  |  | 126,682
Total costs and expenses |  | 662,019 |  | 10,670 |  | 57,220 |  | (1,015) |  |  | 728,894
Earnings from operations before equity in earnings of subsidiaries |  | 220,508 |  | 5,436 |  | 3,436 |  | (349) |  |  | 229,031
Equity in earnings of subsidiaries |  | 5,810 |  | – |  | – |  | (5,810) | (d) |  | –
Earnings from operations |  | 226,318 |  | 5,436 |  | 3,436 |  | (6,159) |  |  | 229,031
Interest expense |  | (30,694) |  | – |  | – |  | 349 | (b) |  | (30,345)
Pretax earnings |  | 195,624 |  | 5,436 |  | 3,436 |  | (5,810) |  |  | 198,686
Income tax expense |  | (69,417) |  | (1,862) |  | (1,200) |  | – |  |  | (72,479)
Earnings available to common shareholders | $ | 126,207 | $ | 3,574 | $ | 2,236 | $ | (5,810) |  | $ | 126,207
(a) Balances for the quarter ended March 31, 2017 |  |  |  |  |  |  |  |  |  |  |
(b) Eliminate intercompany lease / interest income |  |  |  |  |  |  |  |  |  |  |
(c) Eliminate intercompany premiums |  |  |  |  |  |  |  |  |  |  |
(d) Eliminate equity in earnings of subsidiaries |  |  |  |  |  |  |  |  |  |  |
|  | Consolidating statements of operations by industry for the quarter ended June 30, 2016 are as follows:
|  | Moving & Storage Consolidated |  | Property & Casualty Insurance (a) |  | Life Insurance (a) |  | Eliminations |  |  | AMERCO Consolidated
|  | (Unaudited)
|  | (In thousands)
Revenues: |  |  |  |  |  |  |  |  |  |  |
Self-moving equipment rentals | $ | 647,116 | $ | – | $ | – | $ | (780) | (c) | $ | 646,336
Self-storage revenues |  | 67,722 |  | – |  | – |  | – |  |  | 67,722
Self-moving and self-storage products and service sales |  | 77,303 |  | – |  | – |  | – |  |  | 77,303
Property management fees |  | 6,604 |  | – |  | – |  | – |  |  | 6,604
Life insurance premiums |  | – |  | – |  | 40,892 |  | – |  |  | 40,892
Property and casualty insurance premiums |  | – |  | 11,255 |  | – |  | – |  |  | 11,255
Net investment and interest income |  | 2,112 |  | 5,630 |  | 19,994 |  | (405) | (b) |  | 27,331
Other revenue |  | 44,974 |  | – |  | 909 |  | (135) | (b) |  | 45,748
Total revenues |  | 845,831 |  | 16,885 |  | 61,795 |  | (1,320) |  |  | 923,191
Costs and expenses: |  |  |  |  |  |  |  |  |  |  |
Operating expenses |  | 373,672 |  | 6,285 |  | 6,031 |  | (906) | (b,c) |  | 385,082
Commission expenses |  | 73,816 |  | – |  | – |  | – |  |  | 73,816
Cost of sales |  | 43,362 |  | – |  | – |  | – |  |  | 43,362
Benefits and losses |  | – |  | 3,097 |  | 43,906 |  | – |  |  | 47,003
Amortization of deferred policy acquisition costs |  | – |  | – |  | 7,942 |  | – |  |  | 7,942
Lease expense |  | 11,095 |  | – |  | – |  | (47) | (b) |  | 11,048
Depreciation, net of (gains) losses on disposals |  | 95,381 |  | – |  | – |  | – |  |  | 95,381
Total costs and expenses |  | 597,326 |  | 9,382 |  | 57,879 |  | (953) |  |  | 663,634
Earnings from operations before equity in earnings of subsidiaries |  | 248,505 |  | 7,503 |  | 3,916 |  | (367) |  |  | 259,557
Equity in earnings of subsidiaries |  | 7,574 |  | – |  | – |  | (7,574) | (d) |  | –
Earnings from operations |  | 256,079 |  | 7,503 |  | 3,916 |  | (7,941) |  |  | 259,557
Interest expense |  | (26,793) |  | – |  | – |  | 367 | (b) |  | (26,426)
Pretax earnings |  | 229,286 |  | 7,503 |  | 3,916 |  | (7,574) |  |  | 233,131
Income tax expense |  | (82,113) |  | (2,626) |  | (1,219) |  | – |  |  | (85,958)
Earnings available to common shareholders | $ | 147,173 | $ | 4,877 | $ | 2,697 | $ | (7,574) |  | $ | 147,173
(a) Balances for the quarter ended March 31, 2016 |  |  |  |  |  |  |  |  |  |  |
(b) Eliminate intercompany lease/interest income |  |  |  |  |  |  |  |  |  |  |
(c) Eliminate intercompany premiums |  |  |  |  |  |  |  |  |  |  |
(d) Eliminate equity in earnings of subsidiaries |  |  |  |  |  |  |  |  |  |  |
Consolidated Cash Flow Statement by Industry Segment | Consolidating cash flow statements by industry segment for the quarter ended June 30, 2017 are as follows:
|  | Moving & Storage Consolidated |  | Property & Casualty Insurance (a) |  | Life Insurance (a) |  | Elimination |  |  | AMERCO Consolidated
|  | (Unaudited)
|  | (In thousands)
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |
Net earnings | $ | 126,207 | $ | 3,574 | $ | 2,236 | $ | (5,810) |  | $ | 126,207
Earnings from consolidated subsidiaries |  | (5,810) |  | – |  | – |  | 5,810 |  |  | –
Adjustments to reconcile net earnings to the cash provided by operations: |  |  |  |  |  |  |  |  |  |  |
Depreciation |  | 131,423 |  | – |  | – |  | – |  |  | 131,423
Amortization of deferred policy acquisition costs |  | – |  | – |  | 6,321 |  | – |  |  | 6,321
Amortization of debt issuance costs |  | 932 |  | – |  | – |  | – |  |  | 932
Interest credited to policyholders |  | – |  | – |  | 7,651 |  | – |  |  | 7,651
Change in allowance for losses on trade receivables |  | (26) |  | – |  | – |  | – |  |  | (26)
Change in allowance for inventory reserve |  | 1,114 |  | – |  | – |  | – |  |  | 1,114
Net gain on sale of real and personal property |  | (4,741) |  | – |  | – |  | – |  |  | (4,741)
Net gain on sale of investments |  | – |  | (589) |  | (1,396) |  | – |  |  | (1,985)
Deferred income taxes |  | 16,765 |  | (1,600) |  | (3,141) |  | – |  |  | 12,024
Net change in other operating assets and liabilities: |  |  |  |  |  |  |  |  |  |  |
Reinsurance recoverables and trade receivables |  | (10,955) |  | 4,375 |  | (2,290) |  | – |  |  | (8,870)
Inventories |  | (11,982) |  | – |  | – |  | – |  |  | (11,982)
Prepaid expenses |  | 44,788 |  | – |  | – |  | – |  |  | 44,788
Capitalization of deferred policy acquisition costs |  | – |  | – |  | (8,228) |  | – |  |  | (8,228)
Other assets |  | 16,237 |  | 1,665 |  | (90) |  | – |  |  | 17,812
Related party assets |  | 7,721 |  | 115 |  | – |  | – |  |  | 7,836
Accounts payable and accrued expenses |  | 48,255 |  | 1,249 |  | 12,200 |  | – |  |  | 61,704
Policy benefits and losses, claims and loss expenses payable |  | 7,125 |  | (6,051) |  | 3,673 |  | – |  |  | 4,747
Other policyholders' funds and liabilities |  | – |  | 101 |  | 3,982 |  | – |  |  | 4,083
Deferred income |  | 8,393 |  | – |  | – |  | – |  |  | 8,393
Related party liabilities |  | (2,812) |  | (117) |  | 397 |  | – |  |  | (2,532)
Net cash provided by operating activities |  | 372,634 |  | 2,722 |  | 21,315 |  | – |  |  | 396,671
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |
Purchases of: |  |  |  |  |  |  |  |  |  |  |
Property, plant and equipment |  | (480,259) |  | – |  | – |  | – |  |  | (480,259)
Short term investments |  | – |  | (10,779) |  | (5,712) |  | – |  |  | (16,491)
Fixed maturities investments |  | – |  | (11,602) |  | (111,488) |  | – |  |  | (123,090)
Real estate |  | (505) |  | – |  | – |  | – |  |  | (505)
Mortgage loans |  | – |  | (6,059) |  | (18,323) |  | – |  |  | (24,382)
Proceeds from sales and paydowns of: |  |  |  |  |  |  |  |  |  |  |
Property, plant and equipment |  | 142,343 |  | – |  | – |  | – |  |  | 142,343
Short term investments |  | – |  | 15,424 |  | 9,215 |  | – |  |  | 24,639
Fixed maturities investments |  | – |  | 4,275 |  | 32,284 |  | – |  |  | 36,559
Real estate |  | 2,664 |  | – |  | – |  | – |  |  | 2,664
Mortgage loans |  | – |  | 1,585 |  | 4,469 |  | – |  |  | 6,054
Net cash used by investing activities |  | (335,757) |  | (7,156) |  | (89,555) |  | – |  |  | (432,468)
|  | (page 1 of 2)
(a) Balance for the period ended March 31, 2017 |  |  |  |  |  |  |  |  |  |  |
|  | Moving & Storage Consolidated |  | Property & Casualty Insurance (a) |  | Life Insurance (a) |  | Elimination |  |  | AMERCO Consolidated
|  | (Unaudited)
|  | (In thousands)
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |
Borrowings from credit facilities |  | 155,367 |  | – |  | – |  | – |  |  | 155,367
Principal repayments on credit facilities |  | (64,819) |  | – |  | – |  | – |  |  | (64,819)
Payments of debt issuance costs |  | (1,734) |  | – |  | – |  | – |  |  | (1,734)
Capital lease payments |  | (56,522) |  | – |  | – |  | – |  |  | (56,522)
Employee Stock Ownership Plan |  | 3,516 |  | – |  | – |  | – |  |  | 3,516
Securitization deposits |  | 49 |  | – |  | – |  | – |  |  | 49
Investment contract deposits |  | – |  | – |  | 155,437 |  | – |  |  | 155,437
Investment contract withdrawals |  | – |  | – |  | (54,205) |  | – |  |  | (54,205)
Net cash provided by financing activities |  | 35,857 |  | – |  | 101,232 |  | – |  |  | 137,089
Effects of exchange rate on cash |  | 4,424 |  | – |  | – |  | – |  |  | 4,424
Increase (decrease) in cash and cash equivalents |  | 77,158 |  | (4,434) |  | 32,992 |  | – |  |  | 105,716
Cash and cash equivalents at beginning of period |  | 671,665 |  | 12,725 |  | 13,416 |  | – |  |  | 697,806
Cash and cash equivalents at end of period | $ | 748,823 | $ | 8,291 | $ | 46,408 | $ | – |  | $ | 803,522
|  | (page 2 of 2)
(a) Balance for the period ended March 31, 2017 |  |  |  |  |  |  |  |  |  |  |
|  | Consolidating cash flow statements by industry segment for the quarter ended June 30, 2016 are as follows:
|  | Moving & Storage Consolidated |  | Property & Casualty Insurance (a) |  | Life Insurance (a) |  | Elimination |  |  | AMERCO Consolidated
|  | (Unaudited)
|  | (In thousands)
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |
Net earnings | $ | 147,173 | $ | 4,877 | $ | 2,697 | $ | (7,574) |  | $ | 147,173
Earnings from consolidated subsidiaries |  | (7,574) |  | – |  | – |  | 7,574 |  |  | –
Adjustments to reconcile net earnings to the cash provided by operations: |  |  |  |  |  |  |  |  |  |  |
Depreciation |  | 114,021 |  | – |  | – |  | – |  |  | 114,021
Amortization of deferred policy acquisition costs |  | – |  | – |  | 7,942 |  | – |  |  | 7,942
Amortization of debt issuance costs |  | 961 |  | – |  | – |  | – |  |  | 961
Interest credited to policyholders |  | – |  | – |  | 5,059 |  | – |  |  | 5,059
Change in allowance for losses on trade receivables |  | 21 |  | – |  | – |  | – |  |  | 21
Change in allowance for inventory reserve |  | 1,221 |  | – |  | – |  | – |  |  | 1,221
Net gain on sale of real and personal property |  | (18,640) |  | – |  | – |  | – |  |  | (18,640)
Net gain on sale of investments |  | – |  | (2,163) |  | (243) |  | – |  |  | (2,406)
Deferred income taxes |  | 22,401 |  | (21) |  | 353 |  | – |  |  | 22,733
Net change in other operating assets and liabilities: |  |  |  |  |  |  |  |  |  |  |
Reinsurance recoverables and trade receivables |  | (10,746) |  | (421) |  | (2,971) |  | – |  |  | (14,138)
Inventories |  | (4,391) |  | – |  | – |  | – |  |  | (4,391)
Prepaid expenses |  | 39,828 |  | – |  | – |  | – |  |  | 39,828
Capitalization of deferred policy acquisition costs |  | – |  | – |  | (7,252) |  | – |  |  | (7,252)
Other assets |  | (5,817) |  | 2,377 |  | 48 |  | – |  |  | (3,392)
Related party assets |  | 3,687 |  | 397 |  | – |  | – |  |  | 4,084
Accounts payable and accrued expenses |  | 58,699 |  | (142) |  | (1,458) |  | – |  |  | 57,099
Policy benefits and losses, claims and loss expenses payable |  | (1,600) |  | (1,746) |  | 4,719 |  | – |  |  | 1,373
Other policyholders' funds and liabilities |  | – |  | 8 |  | 234 |  | – |  |  | 242
Deferred income |  | 8,727 |  | – |  | – |  | – |  |  | 8,727
Related party liabilities |  | 861 |  | (7) |  | (73) |  | – |  |  | 781
Net cash provided by operating activities |  | 348,832 |  | 3,159 |  | 9,055 |  | – |  |  | 361,046
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |
Purchases of: |  |  |  |  |  |  |  |  |  |  |
Property, plant and equipment |  | (437,287) |  | – |  | – |  | – |  |  | (437,287)
Short term investments |  | – |  | (18,901) |  | (258,137) |  | – |  |  | (277,038)
Fixed maturities investments |  | – |  | (13,469) |  | (153,179) |  | – |  |  | (166,648)
Real estate |  | (3,495) |  | – |  | – |  | – |  |  | (3,495)
Mortgage loans |  | (1,838) |  | (3,063) |  | (57,671) |  | – |  |  | (62,572)
Proceeds from sales and paydowns of: |  |  |  |  |  |  |  |  |  |  |
Property, plant and equipment |  | 147,196 |  | – |  | – |  | – |  |  | 147,196
Short term investments |  | – |  | 11,246 |  | 268,095 |  | – |  |  | 279,341
Fixed maturities investments |  | – |  | 8,201 |  | 47,745 |  | – |  |  | 55,946
Preferred stock |  | – |  | 2,000 |  | – |  | – |  |  | 2,000
Real estate |  | – |  | – |  | 831 |  | – |  |  | 831
Mortgage loans |  | 3,490 |  | 6,217 |  | 84,308 |  | – |  |  | 94,015
Net cash used by investing activities |  | (291,934) |  | (7,769) |  | (68,008) |  | – |  |  | (367,711)
|  | (page 1 of 2)
(a) Balance for the period ended March 31, 2016 |  |  |  |  |  |  |  |  |  |  |
|  | Moving & Storage Consolidated |  | Property & Casualty Insurance (a) |  | Life Insurance (a) |  | Elimination |  |  | AMERCO Consolidated
|  | (Unaudited)
|  | (In thousands)
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |
Borrowings from credit facilities |  | 103,338 |  | – |  | – |  | – |  |  | 103,338
Principal repayments on credit facilities |  | (48,326) |  | – |  | – |  | – |  |  | (48,326)
Payments of debt issuance costs |  | (223) |  | – |  | – |  | – |  |  | (223)
Capital lease payments |  | (37,405) |  | – |  | – |  | – |  |  | (37,405)
Employee Stock Ownership Plan |  | (1,393) |  | – |  | – |  | – |  |  | (1,393)
Securitization deposits |  | 93 |  | – |  | – |  | – |  |  | 93
Common stock dividends paid |  | (19,586) |  | – |  | – |  | – |  |  | (19,586)
Investment contract deposits |  | – |  | – |  | 74,157 |  | – |  |  | 74,157
Investment contract withdrawals |  | – |  | – |  | (14,051) |  | – |  |  | (14,051)
Net cash provided (used) by financing activities |  | (3,502) |  | – |  | 60,106 |  | – |  |  | 56,604
Effects of exchange rate on cash |  | (4,397) |  | – |  | – |  | – |  |  | (4,397)
Increase (decrease) in cash and cash equivalents |  | 48,999 |  | (4,610) |  | 1,153 |  | – |  |  | 45,542
Cash and cash equivalents at beginning of period |  | 585,666 |  | 14,049 |  | 931 |  | – |  |  | 600,646
Cash and cash equivalents at end of period | $ | 634,665 | $ | 9,439 | $ | 2,084 | $ | – |  | $ | 646,188
|  | (page 1 of 2)
(a) Balance for the period ended March 31, 2016 |  |  |  |  |  |  |  |  |  |  |

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