XML 44 R36.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Notes, Loans and Finance Leases Payable, net (Table Text Block) | 3 Months Ended
--- | ---
Jun. 30, 2024
Debt Instruments [Abstract] |
Long-Term Debt | Long term debt was as follows:
| Fiscal Year 2025 Interest Rates |  |  |  | Maturities |  | Weighted Avg Interest Rates (c) |  | June 30, 2024 |  |  | March 31, 2024 |
|  |  |  |  |  |  |  |  |  |  |  |  |  | (Unaudited) |
|  |  |  |  |  |  |  |  |  |  |  |  |  | (In thousands) |
Real estate loans (amortizing term) (a) |  | 4.30 |  | % | - |  | 6.80 |  | % |  | 2027 |  | - | 2037 |  |  | 5.89 |  | % |  | $ | 274,797 |  |  | $ | 277,767 |
Senior mortgages |  | 2.70 |  | % | - |  | 6.05 |  | % |  | 2026 |  | - | 2042 |  |  | 4.16 |  | % |  |  | 2,222,442 |  |  |  | 2,284,853 |
Real estate loans (revolving credit) |  | — |  | % | - |  | — |  | % |  |  | — |  | - | 2027 |  | - |  | % |  |  | — |  |  |  | — |
Fleet loans (amortizing term) |  | 1.61 |  | % | - |  | 5.68 |  | % |  | 2024 |  | - | 2029 |  |  | 3.89 |  | % |  |  | 59,744 |  |  |  | 70,454 |
Fleet loans (revolving credit) (b) |  | 6.57 |  | % | - |  | 6.68 |  | % |  | 2027 |  | - | 2029 |  |  | 6.62 |  | % |  |  | 585,000 |  |  |  | 573,889 |
Finance leases (rental equipment) |  | 2.86 |  | % | - |  | 5.01 |  | % |  | 2024 |  | - | 2026 |  |  | 4.16 |  | % |  |  | 98,382 |  |  |  | 117,641 |
Finance liability (rental equipment) |  | 1.60 |  | % | - |  | 6.80 |  | % |  | 2024 |  | - | 2031 |  |  | 4.88 |  | % |  |  | 1,801,109 |  |  |  | 1,708,619 |
Private placements |  | 2.43 |  | % | - |  | 2.88 |  | % |  | 2029 |  | - | 2035 |  |  | 2.65 |  | % |  |  | 1,200,000 |  |  |  | 1,200,000 |
Other obligations |  | 1.50 |  | % | - |  | 8.00 |  | % |  | 2024 |  | - | 2049 |  |  | 6.26 |  | % |  |  | 70,202 |  |  |  | 70,815 |
Notes, loans and finance leases payable |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 6,311,676 |  |  |  | 6,304,038 |
Less: Debt issuance costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (31,371 | ) |  |  | (32,676 | )
Total notes, loans and finance leases payable, net |  |  |  |  |  |  |  |  |  |  | $ | 6,280,305 |  |  | $ | 6,271,362 |
(a) Certain loans have interest rate swaps fixing the rate for the relevant loans between 2.72% and 2.86% based on current margin. The weighted average interest rate calculation for these loans was 4.10% using the swap adjusted interest rate. |
(b) A loan has an interest rate swap fixing the rate for $100 million of the relevant loan at 4.71% based on current margin. The weighted average interest rate calculation for these loans was 6.51% using the swap adjusted interest rate. |
(c) Weighted average rates as of June 30, 2024. |
Components of interest expense | Components of interest expense included the following:
|  | Quarter ended June 30, |
|  | 2024 |  |  | 2023 |
|  | (Unaudited) |
|  | (In thousands) |
Interest expense |  | $ | 71,147 |  |  | $ | 64,400 |
Capitalized interest |  |  | (4,013 | ) |  |  | (4,063 | )
Amortization of transaction costs |  |  | 1,509 |  |  |  | 1,411 |
Interest expense resulting from cash flow hedges |  |  | (1,425 | ) |  |  | (1,150 | )
Total interest expense |  | $ | 67,218 |  |  | $ | 60,598 |
Interest rates and company borrowings | Interest rates and Company borrowings related to our revolving credit facilities were as follows:
|  | Revolving Credit Activity |  |
|  | Quarter ended June 30, |  |
|  |  | 2024 |  |  |  | 2023 |  |
|  | (Unaudited) |  |
|  | (In thousands, except interest rates) |  |
Weighted average interest rate during the quarter |  |  | 6.63 |  | % |  | 6.26 |  | %
Interest rate at the end of the quarter |  |  | 6.61 |  | % |  | 6.41 |  | %
Maximum amount outstanding during the quarter |  | $ | 735,000 |  |  | $ | 715,000 |  |
Average amount outstanding during the quarter |  | $ | 665,861 |  |  | $ | 660,330 |  |
Facility fees |  | $ | 263 |  |  | $ | 265 |  |

X
- Definition Our disclosure provides for only the interest expense on borrowings. Within the US-GAAP taxonomy, there is an Interest Income and Interest Expense Disclosure [Text Block], but nothing that specifically covers only Interest Expense. + References No definition available. + Details
Name: | uhal_InterestExpenseDisclosureTextBlock
Namespace Prefix: | uhal_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DebtInstrumentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(19)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
Name: | us-gaap_ScheduleOfLineOfCreditFacilitiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration