$UHAL-B

AMERCO /NV/

CIK:0000004457|SEC Filings

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Revenues:
Self-moving equipment rentals	$ 1,087,578	$ 1,058,273
Self-storage revenues	250,172	234,237
Self moving and self-storage products and service sales	99,240	98,188
Property management fees	9,565	9,582
Life insurance premiums	18,066	19,169
Property and casualty insurance premiums	24,251	21,738
Net investment and Interest income	37,368	35,211
Other revenue	155,787	154,072
Total revenues	1,682,027	1,630,470
Costs and expenses:
Operating Costs and Expenses	886,990	826,749
Commission expenses	120,272	116,737
Cost of product sales	71,754	72,205
Benefits and losses	42,137	45,182
Amortization of deferred policy acquisition costs	4,874	4,917
Lease expense	3,496	4,874
Depreciation, net of (gains) losses on disposals	298,840	304,009
Net (gains) losses on disposal of real estate	3,068	(1,617)
Costs and Expenses, Total	1,431,431	1,373,056
Earnings from operations	250,596	257,414
Other components of net periodic benefit costs	(357)	(346)
Interest Income, Other	9,391	10,669
Interest expense	(97,912)	(82,330)
Fees and amortization on early extinguishment of debt	(31)	(26)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	161,687	185,381
Income tax expense	(38,758)	(43,050)
Net earnings available to common stockholders	$ 122,929	$ 142,331
Weighted average common shares outstanding: basic and diluted	195,869,719	196,077,880
Voting Common Stock
Costs and expenses:
Basic and diluted earnings per common share	$ 0.58	$ 0.68
Weighted average common shares outstanding: basic and diluted	19,545,696	19,607,788
Nonvoting Common Stock [Member]
Costs and expenses:
Basic and diluted earnings per common share	$ 0.63	$ 0.73
Weighted average common shares outstanding: basic and diluted	176,324,023	176,470,092

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flow from operating activities:
Net Income (Loss)	$ 122,929	$ 142,331
Adjustments to reconcile net earnings to cash provided by operations:
Depreciation	300,636	282,076
Amortization of premiums and accretion of discounts related to investments, net	4,278	4,231
Amortization of debt issuance costs	1,940	1,531
Interest credited to policyholders	21,521	21,022
Change in allowance for losses on trade receivables	512	462
Operating lease right-of-use asset amortization	2,068	2,264
Net gain on sale of real and personal property	(1,796)	(21,933)
Net losses on disposal of real estate	3,068	(1,617)
Net (gains) losses on sales of fixed maturity securities	1,514	745
Net (gains) losses on equity securities and investments, other	1,086	3,515
Deferred income taxes	36,685	7,345
Net change in other operating assets and liabilities:
Reinsurance recoverables and trade receivables	(31,883)	(635)
Inventories and parts	(2,175)	(10,163)
Prepaid expenses	53,829	(2,590)
Capitalization of deferred policy acquisition costs	2,302	108
Other assets	(19,757)	(3,645)
Related party assets	5,449	(1,601)
Increase (Decrease) in Accounts Payable and Accrued Liabilities	98,672	99,283
Policy benefits and losses, claims and loss expenses payable	13,641	8,348
Other policyholders' funds and liabilities	(448)	5,079
Deferred income	12,737	12,134
Related party liabilities	3,469	6,220
Net cash provided by operating activities	630,277	598,376
Cash flow from investing activities:
Increase Decrease Escrow Deposits	(867)	550
Purchase of:
Property, plant and equipment	(822,362)	(916,571)
Fixed maturity investments	(115,800)	(91,746)
Equity securities		(160)
Investments, other	(40,692)	(57,361)
Proceeds from sales and paydowns of:
Property, plant and equipment	148,265	166,182
Fixed maturity investments	181,367	101,170
Equity securities		158
Investments, other	79,179	62,137
Net cash used by investing activities	(570,910)	(764,041)
Cash flow from financing activities:
Borrowings from credit facilities	618,213	349,981
Principal repayments on credit facilities	(594,696)	(286,581)
Payment of debt issuance costs	(1,822)	(1,286)
Finance lease payments		(11,359)
Securitization deposits		109
Series N Non-Voting Common Stock dividends paid	(8,813)	(8,824)
Repurchase of Common Stock	(15,570)
Repurchase of Series N Non-Voting Common Stock	(32,445)
Investment contract deposits	77,854	135,224
Investment contract withdrawals	(121,050)	(129,820)
Net cash provided by financing activities	(78,329)	47,444
Effects of exchange rate on cash	(3,849)	6,581
Increase (decrease) in cash and cash equivalents	(22,811)	(111,640)
Cash and cash equivalents at the beginning of period	1,120,147	988,828
Cash and cash equivalents at the end of period	$ 1,097,336	$ 877,188

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Mar. 31, 2026
ASSETS:
Cash and cash equivalents	$ 1,097,336	$ 1,120,147
Reinsurance recoverables and trade receivables, net	190,912	159,768
Inventories, net	180,325	178,155
Prepaid Expense	137,688	191,671
Fixed maturities - available for sale	2,321,038	2,417,912
Equity securities, at estimated fair value	14,724	14,976
Investments, other	655,316	706,314
Deferred policy acquisition costs, net	110,550	112,852
Other assets	146,498	127,202
Right of use Assets - Operating	38,833	40,188
Related Parties Amounts Due	44,141	53,159
Property, plant and equipment, at cost:
Land	1,866,794	1,865,369
Buildings and improvements	10,727,955	10,542,945
Furniture and equipment	1,087,938	1,074,032
Property, plant and equipment (gross)	23,798,751	23,243,107
Less: Accumulated depreciation	(7,074,624)	(6,862,662)
Total property, plant and equipment	16,724,127	16,380,445
Total assets	21,661,488	21,502,789
Liabilities:
Accounts payable and accrued expenses	909,147	850,294
Notes, loans and leases payable	8,105,429	8,083,374
Operating lease liability	39,577	40,957
Policy benefits and losses, claims and loss expenses payable	947,870	939,874
Liabilities from investment contracts	2,335,870	2,357,545
Other policyholders' funds and liabilities	2,451	2,899
Deferred income	69,269	56,614
Deferred Income Tax Liabilities, Net	1,592,072	1,559,581
Total liabilities	14,001,685	13,891,138
Commitments and contingencies (notes 4 and 9)
Stockholders' equity:
Preferred stock, value, issued
Additional paid-in capital	462,548	462,548
Accumulated other comprehensive loss	(181,094)	(163,640)
Retained earnings	8,093,836	7,979,720
Cost of preferred stock in treasury, net	151,997	151,997
Total stockholders' equity	7,659,803	7,611,651
Total liabilities and stockholders' equity	21,661,488	21,502,789
Voting Common Stock
Stockholders' equity:
Common stock, value, issued	10,497	10,497
Treasury stock, value	(541,383)	(525,653)
Nonvoting Common Stock [Member]
Stockholders' equity:
Common stock, value, issued	176	176
Treasury stock, value	(32,780)
Rental Trailers and Other Rental Equipment [Member]
Property, plant and equipment, at cost:
Property subject to or available for operating lease, gross	1,239,808	1,206,253
Rental Trucks [Member]
Property, plant and equipment, at cost:
Property subject to or available for operating lease, gross	$ 8,876,256	$ 8,554,508