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Schedule I - Condensed Financial Information of Amerco | 12 Months Ended
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Mar. 31, 2021
Disclosure Text Block [Abstract] |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | SCHEDULE I CONDENSED FINANCIAL INFORMATION OF AMERCO BALANCE SHEETS March 31, 2021 2020 (In thousands) ASSETS Cash and cash equivalents $ 751,053 $ 294,528 Investment in subsidiaries 3,284,760 2,758,509 Related party assets 1,535,355 1,734,358 Other assets 413,167 502,064 Total assets $ 5,984,335 $ 5,289,459 LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities: Other liabilities $ 1,136,742 $ 1,068,291 1,136,742 1,068,291 Stockholders' equity: Preferred stock - - Common stock 10,497 10,497 Additional paid-in capital 454,029 454,029 Accumulated other comprehensive income (loss) 102,568 35,100 Retained earnings: Beginning of period 4,399,192 3,976,752 Adjustment for adoption of Topic 326 (2,880) - Net earnings 610,856 442,048 Dividends (49,019) (19,608) End of period 4,958,149 4,399,192 Cost of common shares in treasury (525,653) (525,653) Cost of preferred shares in treasury (151,997) (151,997) Total stockholders' equity 4,847,593 4,221,168 Total liabilities and stockholders' equity $ 5,984,335 $ 5,289,459 The accompanying notes are an integral part of these condensed financial statements. F- 64 CONDENSED FINANCIAL INFORMATION OF AMERCO STATEMENTS OF OPERATIONS Years Ended March 31, 2021 2020 2019 (In thousands, except share and per share data) Revenues: Net interest income and other revenues $ 720 $ 6,586 $ 8,601 Expenses: Operating expenses 6,753 10,622 8,840 Other expenses 115 96 93 Total expenses 6,868 10,718 8,933 Equity in earnings of subsidiaries 508,632 205,940 279,589 Interest income 135,673 130,670 112,649 Pretax earnings 638,157 332,478 391,906 Income tax benfefit (expense) (27,301) 109,570 (21,049) Earnings available to common shareholders $ 610,856 $ 442,048 $ 370,857 Basic and diluted earnings per common share $ 31.15 $ 22.55 $ 18.93 Weighted average common shares outstanding: Basic and diluted 19,607,788 19,603,708 19,592,048 The accompanying notes are an integral part of these condensed financial statements. CONDENSED FINANCIAL INFORMATION OF AMERCO STATEMENTS OF comprehensive income Years Ended March 31, 2021 2020 2019 (In thousands) Net earnings $ 610,856 $ 442,048 $ 370,857 Other comprehensive income (loss) 72,205 101,350 (62,075) Total comprehensive income $ 683,061 $ 543,398 $ 308,782 The accompanying notes are an integral part of these condensed financial statements. F- 65 CONDENSED FINANCIAL INFORMATION OF AMERCO STATEMENTS OF CASH FLOW Years Ended March 31, 2021 2020 2019 (In thousands) Cash flows from operating activities: Net earnings $ 610,856 $ 442,048 $ 370,857 Change in investments in subsidiaries (508,632) (205,940) (279,589) Adjustments to reconcile net earnings to cash provided by operations: Depreciation 1 1 1 Amortization of debt issuance costs 924 - - Deferred income taxes 72,407 323,980 112,434 Net change in other operating assets and liabilities: Prepaid expenses 88,898 (381,190) (6,289) Other assets - 22 (40) Related party assets (12,000) - - Accounts payable and accrued expenses (4,019) 1,935 2,260 Net cash provided by operating activities 248,435 180,856 199,634 Cash flows from investing activities: Purchases of property, plant and equipment (3) - (1) Proceeds of property, plant and equipment - - - Net cash used by investing activities (3) - (1) Cash flows from financing activities: Borrowings from credit facilities 200,000 - - Principal repayments on credit facilities (200,000) - - Debt issuance costs (924) - - Proceeds from (repayments) of intercompany loans 211,064 (311,534) (196,382) Common stock dividends paid (49,019) (29,404) (39,179) Net contribution from related party 41,199 21,600 - Net cash provided (used) by financing activities 202,320 (319,338) (235,561) Effects of exchange rate on cash 5,773 4,060 (4,331) Increase (decrease) in cash and cash equivalents 456,525 (134,422) (40,259) Cash and cash equivalents at beginning of period 294,528 428,950 469,209 Cash and cash equivalents at end of period $ 751,053 $ 294,528 $ 428,950 Income taxes paid, net of income taxes refunds received, amounted to $29.0 million, $6.9 million and $4.3 million for fiscal 2021, 2020 and 2019, respectively. The accompanying notes are an integral part of these condensed financial statements. F- 66

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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -URI http://asc.fasb.org/extlink&oid=120391182&loc=d3e5864-122674 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
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