AMERCO /NV/, 10-K filed on 27 May 20
 | XBRL Documents
v3.20.1
Document and Entity Information - USD ($)
 12 Months Ended
Mar. 31, 2020
May 22, 2020
Sep. 30, 2019
Document and Entity Information [Abstract]      
Entity Registrant Name AMERCO    
Entity Central Index Key 0000004457    
Entity Current Reporting Status Yes    
Entity Voluntary Filers No    
Current Fiscal Year End Date --03-31    
Entity Filer Category Large Accelerated Filer    
Entity Well-known Seasoned Issuer Yes    
Entity Public Float     $ 3,494,102,743
Document Fiscal Year Focus 2020    
Document Type 10-K    
Document Fiscal Period Focus FY    
Document Period End Date Mar. 31, 2020    
Amendment Flag false    
Entity Common Stock, Shares Outstanding   19,607,788  
Entity Small Business false    
Entity Emerging Growth Company false    
Entity Shell Company false    
Entity File Number 001-11255    
Entity Tax Identification Number 88-0106815    
Entity Address Address Line 1 5555 Kietzke Lane    
Entity Address Address Line 2 Ste. 100    
Entity Address City Or Town Reno    
Entity Address State Or Province NV    
Entity Address Postal Zip Code 89511    
City Area Code 775    
Local Phone Number 688-6300    
Security 12b Title Common stock, $0.25 par value    
Trading Symbol UHAL    
Security Exchange Name NASDAQ    
Entity Interactive Data Current Yes    
Entity Incorporation State Country Code NV    
Document Annual Report true    
Document Transition Report false    
v3.20.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2020
Mar. 31, 2019
ASSETS:    
Cash and cash equivalents $ 494,352 $ 673,701
Reinsurance recoverables and trade receivables, net 186,672 224,785
Inventories, net 101,083 103,504
Prepaid expenses 562,904 174,100
Investments, fixed maturities and marketable equities 2,492,738 2,235,397
Investments, other 360,373 300,736
Deferred policy acquisition costs, net 103,118 136,276
Other assets 71,956 78,354
Right of use assets, financing, net 1,080,353 0
Right of use assets, operating 106,631 0
Related party assets 34,784 30,889
Subtotal assets 5,594,964 3,957,742
Property, plant and equipment, at cost:    
Land 1,032,945 976,454
Buildings and improvements 4,663,461 4,003,726
Furniture and equipment 752,363 689,780
Property, plant and equipment (gross) 10,556,222 11,022,027
Less: Accumulated depreciation (2,713,162) (3,088,056)
Total property, plant and equipment 7,843,060 7,933,971
Total assets 13,438,024 11,891,713
Liabilities:    
Accounts payable and accrued expenses 554,353 556,873
Notes, loans and leases payable 4,621,291 4,163,323
Operating lease liabilities 106,443 0
Policy benefits and losses, claims and loss expenses payable 997,647 1,011,183
Liabilities from investment contracts 1,802,217 1,666,742
Other policyholders' funds and liabilities 10,190 15,047
Deferred income 31,620 35,186
Deferred income taxes, net 1,093,543 750,970
Total liabilities 9,217,304 8,199,324
Commitments and contingencies (notes 9, 16, 17 and 18)
Stockholders' equity:    
Additional paid-in capital 453,819 453,326
Accumulated other comprehensive loss 34,652 (66,698)
Retained earnings 4,399,402 3,976,962
Unearned employee stock ownership plan shares 0 (4,048)
Total stockholders' equity 4,220,720 3,692,389
Total liabilities and stockholders' equity 13,438,024 11,891,713
Series A Preferred Stock [Member]    
Stockholders' equity:    
Preferred stock, value, issued 0 0
Series B Preferred Stock [Member]    
Stockholders' equity:    
Preferred stock, value, issued 0 0
Series A Common Stock [Member]    
Stockholders' equity:    
Common stock, value, issued 0 0
Amerco Common Stock [Member]    
Stockholders' equity:    
Common stock, value, issued 10,497 10,497
Common Stock in Treasury [Member]    
Stockholders' equity:    
Treasury stock, value (525,653) (525,653)
Preferred Stock in Treasury [Member]    
Stockholders' equity:    
Treasury stock, value (151,997) (151,997)
Rental Trailers and Other Rental Equipment [Member]    
Property, plant and equipment, at cost:    
Property subject to or available for operating lease, gross 511,520 590,039
Rental Trucks [Member]    
Property, plant and equipment, at cost:    
Property subject to or available for operating lease, gross $ 3,595,933 $ 4,762,028
v3.20.1
Condensed Consolidated Balance Sheets Parenthetical
Mar. 31, 2020
$ / shares
shares
Series Preferred Stock With or Without Par Value Authorized [Member]  
Preferred stock:  
Preferred stock, shares authorized 50,000,000
Series A Preferred Stock [Member]  
Preferred stock:  
Preferred stock, shares authorized 6,100,000
Preferred stock, shares issued 6,100,000
Series B Preferred Stock [Member]  
Preferred stock:  
Preferred stock, shares authorized 100,000
Series Common Stock With or Without Par Value Authorized [Member]  
Common stock:  
Common stock, shares authorized 250,000,000
Serial Common Stock [Member]  
Common stock:  
Common stock, shares authorized 10,000,000
Common stock, par or stated value per share | $ / shares $ 0.25
Common Stock [Member]  
Common stock:  
Common stock, shares authorized 250,000,000
Common stock, par or stated value per share | $ / shares $ 0.25
Amerco Common Stock [Member]  
Common stock:  
Common stock, shares authorized 250,000,000
Common stock, shares, issued 41,985,700
Common stock, shares, outstanding 19,607,788
Common stock, par or stated value per share | $ / shares $ 0.25
Common Stock in Treasury [Member]  
Treasury stock:  
Treasury stock, shares 22,377,912
Preferred Stock in Treasury [Member]  
Treasury stock:  
Treasury stock, shares 6,100,000
v3.20.1
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Revenues:      
Self-moving equipment rentals $ 2,692,413 $ 2,653,497 $ 2,479,742
Self-storage revenues 418,741 367,276 323,903
Self-moving and self-storage products and service sales 265,091 264,146 261,557
Property management fees 30,406 29,148 29,602
Life insurance premiums 127,976 63,488 154,703
Property and casualty insurance premiums 66,053 60,853 57,100
Net investment and interest income 137,829 110,934 110,473
Other revenue 240,359 219,365 184,034
Total revenues 3,978,868 3,768,707 3,601,114
Costs and expenses:      
Operating expenses 2,117,148 1,981,180 1,807,056
Commission expenses 288,332 288,408 276,705
Cost of sales 164,018 162,142 160,489
Benefits and losses 174,836 100,277 185,311
Amortization of deferred policy acquisition costs 31,219 28,556 24,514
Lease expense 26,882 33,158 33,960
Depreciation, net of (gains) losses on disposals 637,063 554,043 543,247
Net gains on disposal of real estate (758) (44) (195,414)
Total costs and expenses 3,438,740 3,147,720 2,835,868
Earnings from operations 540,128 620,987 765,246
Pretax earnings 378,124 477,529 637,613
Earnings available to common shareholders $ 442,048 $ 370,857 $ 790,583
Basic and diluted earnings per common share $ 22.55 $ 18.93 $ 40.36
Weighted average common shares outstanding: basic and diluted 19,603,708 19,592,048 19,588,889
v3.20.1
Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Comprehensive income (loss) (pretax):      
Net earnings $ 378,124 $ 477,529 $ 637,613
Comprehensive income (loss) (net of tax):      
Net earnings 442,048 370,857 790,583
Other comprehensive income (loss):      
Foreign currency translation (pretax) 9,377 (1,759) 14,652
Foreign currency translation (tax effect) 0 0 0
Foreign currency translation (net of tax) 9,377 (1,759) 14,652
Unrealized gain (loss) on investments (pretax) 124,566 (76,124) 30,929
Unrealized gain (loss) on investments (tax effect) (26,623) 16,356 (10,825)
Unrealized gain (loss) on investments (net of tax) 97,943   20,104
Change in fair value of cash flow hedges (pretax) (8,352) 598 4,445
Change in fair value of cash flow hedges (tax effect) 2,051 (147) (1,363)
Change in fair value of cash flow hedges (net of tax)     3,082
Amounts reclassifed into earnings on hedging (3) 35 0
Amounts reclassified into earnings on hedging, tax     0
Amounts reclassified into earnings on hedging, net (401) 789 3,893
Postretirement benefit obligation gain (loss) (pretax) 441 (1,359) 288
Postretirement benefit obligation gain (loss) (tax effect) (108) 334 (253)
Postretirement benefit obligation gain (loss) (net of tax) 333 (1,025) 35
Total other comprehensive income loss 101,350 (62,075) 37,873
Total comprehensive income, net $ 543,398 $ 308,782 $ 828,456
v3.20.1
Consolidated Statements of Changes in Stockholders' Equity - USD ($)
$ in Thousands
Total
Common Stock [Member]
Additional Paid-in Capital [Member]
Accumulated Other Comprehensive Income (Loss) [Member]
Retained Earnings [Member]
Less: Treasury Common Stock [Member]
Less: Treasury Preferred Stock [Member]
Less: Unearned Employee Stock Ownership Plan Shares [Member]
Balance at Mar. 31, 2017 $ 2,619,744 $ 10,497 $ 452,172 $ (51,236) $ 2,892,893 $ (525,653) $ (151,997) $ (6,932)
Consolidated statement of change in equity                
Adjustment for adoption of ASU 2018-02 0 0 0 8,740 (8,740) 0 0 0
Increase in market value of released ESOP shares 574 0 574 0 0 0 0 0
Release of unearned ESOP Shares 10,749 0 0 0 0 0 0 10,749
Purchase of ESOP shares (11,640) 0 0 0 0 0 0 (11,640)
Foreign currency translation 14,652 0 0 14,652 0 0 0 0
Unrealized net gain (loss) on investments, net of tax 20,104 0 0 20,104 0 0 0 0
Fair market value of cash flow hedges, net of tax 3,082 0 0 3,082 0 0 0 0
Adjustment to postretirement benefit obligation 35 0 0 35 0 0 0 0
Net earnings 790,583 0 0 0 790,583 0 0 0
Common stock dividends (39,175) 0 0 0 (39,175) 0 0 0
Net activity 788,964 0 574 46,613 742,668 0 0 (891)
Balance at Mar. 31, 2018 3,408,708 10,497 452,746 (4,623) 3,635,561 (525,653) (151,997) (7,823)
Consolidated statement of change in equity                
Adjustment for adoption of ASU 2016-01 0 0 0 (9,724) 9,724 0 0 0
Increase in market value of released ESOP shares 580 0 580 0 0 0 0 0
Release of unearned ESOP Shares 9,392 0 0 0 0 0 0 9,392
Purchase of ESOP shares   0 0 0 0 0 0 (5,617)
Foreign currency translation (1,759) 0 0 (1,759) 0 0 0 0
Unrealized net gain (loss) on investments, net of tax   0 0 (50,044) 0 0 0 0
Fair market value of cash flow hedges, net of tax   0 0 477 0 0 0 0
Adjustment to postretirement benefit obligation (1,025) 0 0 (1,025) 0 0 0 0
Net earnings 370,857 0 0 0 370,857 0 0 0
Common stock dividends (39,180) 0 0 0 (39,180) 0 0 0
Net activity 283,681 0 580 (62,075) 341,401 0 0 3,775
Balance at Mar. 31, 2019 3,692,389 10,497 453,326 (66,698) 3,976,962 (525,653) (151,997) (4,048)
Consolidated statement of change in equity                
Adjustment for adoption of ASU 2018-02 (8,700)              
Increase in market value of released ESOP shares 493 0 493 0 0 0 0 0
Release of unearned ESOP Shares 4,253 0 0 0 0 0 0 4,253
Purchase of ESOP shares   0 0 0 0 0 0 (205)
Foreign currency translation 9,377 0 0 9,377 0 0 0 0
Unrealized net gain (loss) on investments, net of tax 97,943 0 0 97,943 0 0 0 0
Fair market value of cash flow hedges, net of tax   0 0   0 0 0 0
Adjustment to postretirement benefit obligation 333 0 0 333 0 0 0  
Net earnings 442,048 0 0 0 442,048 0 0 0
Common stock dividends (19,608) 0 0 0 (19,608) 0 0 0
Net activity 528,331 0 493 101,350 422,440 0 0 4,048
Balance at Mar. 31, 2020 $ 4,220,720 $ 10,497 $ 453,819 $ 34,652 $ 4,399,402 $ (525,653) $ (151,997) $ 0
v3.20.1
Consolidated Statement of Changes in Stockholders' Equity Parenthetical - $ / shares
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Retained Earnings [Member]      
Common Stock, Dividends, Per Share, Declared $ 1.00 $ 2.00 $ 2.00
v3.20.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Cash flow from operating activities:      
Net earnings $ 442,048 $ 370,857 $ 790,583
Adjustments to reconcile net earnings to cash provided by operations:      
Depreciation 664,120 581,025 555,069
Amortization of deferred policy acquisition costs 31,219 28,556 24,514
Amortization of premiums and accretion of discounts related to investments, net 13,317 13,107 12,790
Amortization of debt issuance costs 4,426 3,923 3,868
Interest credited to policyholders 51,857 35,387 32,302
Change in allowance for losses on trade receivables (14) 52 (120)
Change in allowance for inventory reserves 640 (146) 5,065
Net gains on disposal of real estate (758) (44) (195,414)
Net gains on sales of investments (13,596) (2,663) (6,269)
Net losses on equity investments (3,783) 5,739 0
Deferred income taxes 317,893 106,811 (193,434)
Net change in other operating assets and liabilities:      
Reinsurance recoverables and trade receivables 38,129 (31,365) (15,329)
Inventories and parts 1,776 (13,492) (12,384)
Prepaid expenses (391,120) (8,620) (40,765)
Capitalization of deferred policy acquisition costs (24,447) (25,957) (27,350)
Other assets (1,295) 157,152 (165,968)
Related party assets (5,645) 4,194 53,408
Accounts payable and accrued expenses (4,530) 10,263 (36,980)
Policy benefits and losses, claims and loss expenses payable (12,618) (236,120) 161,121
Other policyholders' funds and liabilities (4,857) 5,007 (109)
Deferred income (1,818) 966 5,524
Related party liabilities 1,626 (2,067) (616)
Net cash provided by operating activities 1,075,513 975,583 937,684
Cash flow from investing activities:      
Escrow deposits 6,617 4,299 31,362
Purchase of:      
Property, plant and equipment (2,309,406) (1,869,968) (1,363,745)
Short term investments (61,226) (54,048) (63,556)
Fixed maturities investments (379,349) (540,045) (390,900)
Equity securities (83) (957) (662)
Preferred stock 0 0 (1,000)
Real estate (4,286) (635) (1,939)
Mortgage loans (62,016) (63,611) (83,507)
Proceeds from sale and paydowns of:      
Property, plant and equipment 687,375 606,271 699,803
Short term investments 59,056 66,037 67,790
Fixed maturities investments 268,636 123,551 163,469
Equity securities 185 8,608 0
Preferred stock 2,375 1,625 4,208
Real estate 311 0 2,783
Mortgage loans 25,162 147,737 37,590
Net cash used by investing activities (1,766,649) (1,571,136) (898,304)
Cash flow from financing activities:      
Borrowings from credit facilities 1,121,412 897,311 498,464
Principal repayments on credit facilities (349,986) (299,748) (356,451)
Debt issuance costs (5,332) (7,243) (5,111)
Capital lease payments (307,782) (303,431) (296,363)
Employee stock ownership plan     (11,640)
Securitization deposits 0 0 (2,180)
Common stock dividends paid (29,404) (39,179) (29,380)
Investment contract deposits 234,640 400,123 401,814
Investment contract withdrawals (151,022) (132,833) (182,549)
Net cash provided by financing activities 512,320 514,582 16,604
Effects of exchange rate on cash (533) (4,716) 5,598
Increase (decrease) in cash and cash equivalents (179,349) (85,687) 61,582
Cash and cash equivalents at the beginning of period 673,701 759,388 697,806
Cash and cash equivalents at the end of the period $ 494,352 $ 673,701 $ 759,388
v3.20.1
Basis of Presentation
 12 Months Ended
Mar. 31, 2020
Disclosure Text Block [Abstract]  
Basis of Presentation Note 1. Basis of Presentation AMERCO, a Nevada Corporation (“AMERCO”), has a fiscal year that ends on the 31 st of March for each year that is referenced. Our insurance company subsidiaries have fiscal years that end on the 31 st of December for each year that is referenced. They have been consolidated on that basis. Our insurance companies’ financial reporting processes conform to calendar year reporting as required by state insurance departments. Management believes that consolidating their calendar year into our fiscal year financial statements does not materially affect the financial position or results of operations. We disclose material events, if any, occurring during the intervening period. Consequently, all references to our insurance subsidiaries’ years 2019, 2018 and 2017 correspond to fiscal 2020, 2019 and 2018 for AMERCO. Accounts denominated in non-U.S. currencies have been translated into U.S. dollars. Certain amounts reported in previous years have been reclassified to conform to the current presentation. Please see Note 3, Accounting Policies – Adoption of New Accounting Pronouncements , of the Notes to Consolidated Financial Statements.
v3.20.1
Principles of Consolidation
 12 Months Ended
Mar. 31, 2020
Disclosure Text Block [Abstract]  
Principles of Consolidation Note 2. Principles of Consolidation We apply Accounting Standards Codification (“ASC”) 810 - Consolidation (“ASC 810”) in our principles of consolidation. ASC 810 addresses arrangements where a company does not hold a majority of the voting or similar interests of a variable interest entity (“VIE”). A company is required to consolidate a VIE if it has determined it is the primary beneficiary. ASC 810 also addresses the policy when a company owns a majority of the voting or similar rights and exercises effective control. A VIE is not self-supportive due to having one or both of the following conditions: (i) it has an insufficient amount of equity for it to finance its activities without receiving additional subordinated financial support or (ii) its owners do not hold the typical risks and rights of equity owners. This determination is made upon the creation of a variable interest and is re-assessed on an on-going basis should certain changes in the operations of a VIE, or its relationship with the primary beneficiary trigger a reconsideration. After a reconsideration event occurs the most recent facts and circumstances are utilized in determining whether or not a company is a VIE, which other company(ies) have a variable interest in the entity, and whether or not the company’s interest is such that it is the primary beneficiary. We will continue to monitor our relationships with the other entities regarding who is the primary beneficiary, which could change based on facts and circumstances of any reconsideration events. Please see Note 20, Related Party Transactions, of the Notes to Consolidated Financial Statements. The accompanying Consolidated Financial Statements include the accounts of the Company and its wholly-owned subsidiaries, which are consolidated under the voting interest model. Intercompany accounts and transactions have been eliminated. Description of Legal Entities AMERCO is the holding company for: U-Haul International, Inc. (“U-Haul”); Amerco Real Estate Company (“Real Estate”); Repwest Insurance Company (“Repwest”); and Oxford Life Insurance Company (“Oxford”). Unless the context otherwise requires, the terms “Company,” “we,” “us” or “our” refer to AMERCO and all of its legal subsidiaries.   Description of Operating Segments AMERCO has three ( 3 ) reportable segments. They are Moving and Storage, Property and Casualty Insurance and Life Insurance. F- 10   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) Moving and Storage includes AMERCO, U-Haul, and Real Estate and the wholly-owned subsidiaries of U-Haul and Real Estate. Operations consist of the rental of trucks and trailers, sales of moving supplies, sales of towing accessories, sales of propane, and the rental of fixed and portable moving and storage units to the “do-it-yourself” mover and management of self-storage properties owned by others. Operations are conducted under the registered trade name U-Haul ® throughout the United States and Canada. Property and Casualty Insurance includes Repwest and its wholly-owned subsidiaries and ARCOA Risk Retention Group (“ARCOA”). Property and Casualty Insurance provides loss adjusting and claims handling for U-Haul through regional offices in the United States and Canada. Property and Casualty Insurance also underwrites components of the Safemove ® , Safetow ® , Safemove Plus ® , Safestor ® and Safestor Mobile ® protection packages to U-Haul customers. The business plan for Property and Casualty Insurance includes offering property and casualty products in other U-Haul related programs. ARCOA is a group captive insurer owned by us and our wholly owned subsidiaries whose purpose is to provide insurance products related to our moving and storage business. Life Insurance includes Oxford and its wholly owned subsidiaries. Life Insurance provides life and health insurance products primarily to the senior market through the direct writing and reinsuring of life insurance, Medicare supplement and annuity policies.
v3.20.1
Accounting Policies
 12 Months Ended
Mar. 31, 2020
Accounting Policies [Abstract]  
Accounting Policies Note 3.   Accounting Policies Use of Estimates The preparation of financial statements in conformity with the generally accepted accounting principles (“GAAP”) in the United States requires management to make estimates and judgments that affect the amounts reported in the financial statements and accompanying notes. The accounting policies that we deem most critical to us and that require management’s most difficult and subjective judgments include the principles of consolidation, the recoverability of property, plant and equipment, the adequacy of insurance reserves, the recognition and measurement of impairments for investments accounted for under ASC 320 - Investments - Debt and Equity Securities and the recognition and measurement of income tax assets and liabilities. The actual results experienced by us may materially differ from management’s estimates. Cash and Cash Equivalents We consider cash equivalents to be highly liquid debt securities with insignificant interest rate risk with original maturities from the date of purchase of three months or less. Financial instruments that potentially subject us to concentrations of credit risk consist principally of cash deposits. Accounts at each United States financial institution are insured by the Federal Deposit Insurance Corporation up to $ 250,000 . Accounts at each Canadian financial institution are insured by the Canada Deposit Insurance Corporation up to $ 100,000 CAD per account. As of March 31, 2020 and March 31, 2019, we held cash equivalents in excess of these insured limits. To mitigate this risk, we select financial institutions based on their credit ratings and financial strength. Investments Fixed Maturities and Marketable Equities. Fixed maturity investments consist of either marketable debt, equity or redeemable preferred stocks. As of the balance sheet dates, all of our investments in these securities were classified as available-for-sale. Available-for-sale investments are reported at fair value, with unrealized gains or losses recorded net of taxes and applicable adjustments to deferred policy acquisition costs in stockholders’ equity. Changes in the market value of common stocks are recognized in earnings. Fair value for these investments is based on quoted market prices, dealer quotes or discounted cash flows. The cost of investments sold is based on the specific identification method. In determining if and when a decline in market value below carrying value is an other-than-temporary impairment, management makes certain assumptions or judgments in its assessment including but not limited to: our ability to hold the security, quoted market prices, dealer quotes, discounted cash flows, industry factors, financial factors, and issuer specific information. Other-than-temporary impairments, to the extent of the decline, as well as realized gains or losses on the sale or exchange of investments are recognized in the current period operating results. F- 11   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) Mortgage Loans and Notes on Real Estate. Mortgage loans and notes on real estate are reported at their unpaid balance, net of any allowance for possible losses and any unamortized premium or discount. Recognition of Investment Income. Interest income from bonds and mortgage notes is recognized when earned. Dividends on common and preferred stocks are recognized on the ex-dividend dates. Realized gains and losses on the sale or exchange of investments are recognized at the trade date. Derivative Financial Instruments Our objective for holding derivative financial instruments is to manage interest rate risk exposure primarily through entering interest rate swap agreements and call options. We do not enter into these instruments for trading purposes. Counterparties to the interest rate swap agreements are major financial institutions. Derivatives are recognized at fair value on the balance sheet and are classified as prepaid expenses (asset) or accrued expenses (liability). Derivatives that are not designated as cash flow hedges for accounting purposes must be adjusted to fair value through income. If the derivative qualifies and is designated as a cash flow hedge, changes in its fair value will be recorded in accumulated other comprehensive income (loss) until the hedged item is recognized in earnings. See Note 11, Derivatives, of the Notes to Consolidated Financial Statements. Inventories and parts, net Inventories and parts, net were as follows:     March 31,     2020   2019     (In thousands) Truck and trailer parts and accessories (a) $ 88,138 $ 94,344 Hitches and towing components (b)   23,070   20,113 Moving supplies and propane (b)   11,824   10,356 Subtotal   123,032   124,813 Less: LIFO reserves   (18,886)   (18,987) Less: excess and obsolete reserves   (3,063)   (2,322) Total $ 101,083 $ 103,504           (a) Primarily held for internal usage, including equipment manufacturing and repair (b) Primarily held for retail sales           Inventories consist primarily of truck and trailer parts and accessories used to manufacture and repair rental equipment as well as products and accessories available for retail sale. Inventory is held at our owned locations; our independent dealers do not hold any of our inventory. Inventories are stated at the lower cost or net realizable value. Inventory cost is primarily determined using the last-in first-out method (“LIFO”). Inventories valued using LIFO consisted of approximately 96 % of the total inventories for March 31, 2020 and 2019. Had we utilized the first-in first-out method (“FIFO”), stated inventory balances would have been $18.9 million and $19.0 million higher as of March 31, 2020 and 2019, respectively. In fiscal 2020, the negative effect on income due to liquidation of a portion of the LIFO inventory was $ 0.1 million. F- 12   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) Property, Plant and Equipment Our Property, plant and equipment is stated at cost. Interest expense, if any, incurred during the initial construction of buildings is considered part of cost. Depreciation is computed for financial reporting purposes using the straight line or an accelerated method based on a declining balance formula over the following estimated useful lives: rental equipment 2-20 years and buildings and non-rental equipment 3-55 years. Routine maintenance costs are charged to operating expense as they are incurred. Gains and losses on dispositions of property, plant and equipment, other than real estate (“personal property”), are netted against depreciation expense when realized. The net amount of gains, netted against depreciation expense, were $ 27.1 million, $ 27.0 million and $ 11.8 million during fiscal 2020, 2019 and 2018, respectively. Equipment depreciation is recognized in amounts expected to result in the recovery of estimated residual values upon disposal, i.e., minimize gains or losses. In determining the depreciation rate, historical disposal experience, holding periods and trends in the market for vehicles are reviewed. As a result of changes in IRS regulations regarding the capitalization of assets, beginning in the first quarter of fiscal 2017, we raised the value threshold before certain assets are capitalized within our depreciation policy. This change in threshold, results in the immediate recognition of reported operating costs with a lagging decrease in depreciation expense over the term that these assets would have been depreciated. Due to this change, we had operating expenses of $ 27.7 million and $ 21.0 million in fiscal 2020 and 2019, respectively. This change in threshold benefited us through the immediate recognition of tax deductible costs. We regularly perform reviews to determine whether facts and circumstances exist which indicate that the carrying amount of assets, including estimates of residual value, may not be recoverable or that the useful life of assets are shorter or longer than originally estimated. Reductions in residual values (i.e., the price at which we ultimately expect to dispose of revenue earning equipment) or useful lives will result in an increase in depreciation expense over the remaining life of the equipment. Reviews are performed based on vehicle class, generally subcategories of trucks and trailers. We assess the recoverability of our assets by comparing the projected undiscounted net cash flows associated with the related asset or group of assets over their estimated remaining lives against their respective carrying amounts. We consider factors such as current and expected future market price trends on used vehicles and the expected life of vehicles included in the fleet. Impairment, if any, is based on the excess of the carrying amount over the fair value of those assets. If asset residual values are determined to be recoverable, but the useful lives are shorter or longer than originally estimated, the net book value of the assets is depreciated over the newly determined remaining useful lives. For our box truck fleet we utilize an accelerated method of depreciation based upon a declining formula. Under the declining balances method (2.4 times declining balance), the book value of a rental truck is reduced approximately 16 %, 13 %, 11 %, 9 %, 8 %, 7 %, and 6 % during years one through seven, respectively and then reduced on a straight line basis to a salvage value of 15 % by the end of year fifteen. Comparatively, a standard straight line approach would reduce the book value by approximately 5.7 % per year over the life of the truck. Although we intend to sell our used vehicles for prices approximating book value, the extent to which we realize a gain or loss on the sale of used vehicles is dependent upon various factors including, but not limited to, the general state of the used vehicle market, the age and condition of the vehicle at the time of its disposal and the depreciation rates with respect to the vehicle . We typically sell our used vehicles at our sales centers throughout the United States and Canada, on our website at uhaul.com/trucksales or by phone at 1-866-404-0355. Additionally, we sell a large portion of our pickup and cargo van fleet at automobile dealer auctions. In addition to our property, plant and equipment, we had real estate held for future development or use of $ 69.6 million and $ 53.5 million for fiscal 2020 and 2019, respectively and is included in Investments, other.   Receivables Trade receivables include trade accounts from moving and self-storage customers and dealers, insurance premiums and amounts due from re-insurers, less management’s estimate of uncollectible accounts. F- 13   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) Insurance premiums receivable for policies that are billed through contracted agents are recorded net of commissions payable. A commission payable is recorded as a separate liability for those premiums that are billed direct. Reinsurance recoverables include case reserves and actuarial estimates of claims incurred but not reported ("IBNR"). These receivables are not expected to be collected until after the associated claim has been adjudicated and billed to the re-insurer. The reinsurance recoverables may have little or no allowance for doubtful accounts due to the fact that reinsurance is typically procured from carriers with strong credit ratings. Furthermore, we do not cede losses to a re-insurer if the carrier is deemed financially unable to perform on the contract. Reinsurance recoverables also include insurance ceded to other insurance companies. Notes and mortgage receivables include accrued interest and are reduced by discounts and amounts considered by management to be uncollectible.   Policy Benefits and Losses, Claims and Loss Expenses Payable Liabilities for future policy benefits related to life insurance, Medical supplement insurance, and deferred annuities are determined by management utilizing the net premium valuation methodology and are accrued when premium revenue is recognized. The liability, which represents the present value of future benefits to be paid to policyholders and related expenses less the present value of future net premiums, is estimated using assumptions applicable at the time the insurance contracts are written, with provisions for the risk of adverse deviation, as appropriate. Assumptions include expected mortality and morbidity experience, policy lapses and surrenders, current asset yields and expenses, and expected interest rate yields. The Company periodically performs a gross premium valuation and reviews original assumptions, including capitalized expenses which reduce the gross premium valuation, to evaluate whether the assets and liabilities are adequate and whether a loss reserve should be recognized. Liabilities for health, disability and other policies include estimates of payments to be made on insurance claims for reported losses and estimates of IBNR losses. Oxford’s liabilities for deferred annuity contracts consist of contract account balances that accrue to the benefit of the policyholders. Property and Casualty Insurance’s liability for reported and unreported losses is based on Repwest’s historical data along with industry averages. The liability for unpaid loss adjustment expenses is based on historical ratios of loss adjustment expenses paid to losses paid. Amounts recoverable from re-insurers on unpaid losses are estimated in a manner consistent with the claim liability associated with the re-insured policy. Adjustments to the liability for unpaid losses and loss expenses as well as amounts recoverable from re-insurers on unpaid losses are charged or credited to expense in the periods in which they are made. Due to the nature of the underlying risks and high degree of uncertainty associated with the determination of the liability for future policy benefits and claims, the amounts to be ultimately paid to settle these liabilities cannot be precisely determined and may vary significantly from the estimated liability, especially for long-tailed casualty lines of business such as excess workers’ compensation.   As a result of the long-tailed nature of the excess workers’ compensation policies written by Repwest during 1983 through 2001, it may take a number of years for claims to be fully reported and finally settled. On a regular basis insurance reserve adequacy is reviewed by management to determine if existing assumptions need to be updated. In determining the assumptions for calculating workers’ compensation reserves, management considers multiple factors including the following: Claimant longevity Cost trends associated with claimant treatments Changes in ceding entity and third party administrator reporting practices Changes in environmental factors including legal and regulatory Current conditions affecting claim settlements Future economic conditions including inflation F- 14   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) We have reserved each claim based upon the accumulation of current claim costs projected through each claimant’s life expectancy and then adjusted for applicable reinsurance arrangements.   Management reviews each claim bi-annually or more frequently, if there are changes in facts or circumstances to determine if the estimated life-time claim costs have increased and then adjusts the reserve estimate accordingly at that time.   We have factored in an estimate of what the potential cost increases could be in our IBNR liability.   We have not assumed settlement of the existing claims in calculating the reserve amount, unless it is in the final stages of completion. Continued increases in claim costs, including medical inflation and new treatments and medications could lead to future adverse development resulting in additional reserve strengthening.   Conversely, settlement of existing claims or if injured workers return to work or expire prematurely, could lead to future positive development.   Self-Insurance Reserves U-Haul retains the risk for certain public liability and property damage programs related to our rental equipment. The consolidated balance sheets include $ 410.1 million and $ 407.9 million of liabilities related to these programs as of March 31, 2020 and 2019, respectively. These liabilities are recorded in Policy benefits and losses, claims and loss expenses payable. Management takes into account losses incurred based upon actuarial estimates, past experience, current claim trends, as well as social and economic conditions. This liability is subject to change in the future based upon changes in the underlying assumptions including claims experience, frequency of incidents, and severity of incidents. Additionally, as of March 31, 2020 and 2019, the consolidated balance sheets include liabilities of $ 15.7 million and $ 15.6 million, respectively, related to medical plan benefits we provide for eligible employees. We estimate this liability based on actual claims outstanding as of the balance sheet date as well as an actuarial estimate of IBNR claims. These amounts are recorded in Accounts payable and accrued expenses on the consolidated balance sheets. Revenue Recognition Self-moving rentals are recognized for the period that trucks and moving equipment are rented. Self-storage revenues, based upon the number of paid storage contract days, are recognized as earned during the period.   Sales of self-moving and self-storage related products are recognized at the time that title passes and the customer accepts delivery. Property and casualty insurance premiums are recognized as revenue over the policy periods. Traditional life and Medicare supplement insurance premiums are recognized as revenue over the premium-paying periods of the contracts when due from the policyholders. For products where premiums are due over a significantly shorter duration than the period over which benefits are provided, such as our single premium whole life product, premiums are recognized when received and excess profits are deferred and recognized in relation to the insurance in force. Interest and investment income are recognized as earned. Amounts collected from customers for sales tax are recorded on a net basis. Please see Note 23, Revenue Recognition, of the Notes to Consolidated Financial Statements.   Advertising All advertising costs are expensed as incurred. Advertising expense was $ 13.7 million, $ 10.6 million and $ 8.1 million in fiscal 2020, 2019 and 2018, respectively.   Deferred Policy Acquisition Costs Commissions and other costs that fluctuate with and are primarily related to the successful acquisition or renewal of certain insurance premiums are deferred. For our Life Insurance’s life and health insurance products, these costs are amortized, with interest, in relation to revenue such that costs are realized as a constant percentage of revenue. For its annuity insurance products the costs are amortized, with interest, in relation to the present value of actual and expected gross profits. F- 15   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) Starting in fiscal 2014, new annuity contract holders were provided with a sales inducement in the form of a premium bonus (the “Sales Inducement Asset”).   Sales inducements are recognized as an asset with a corresponding increase to the policyholder liability and are amortized in a similar manner to Deferred Policy Acquisition Costs.   As of December 31, 2019 and 2018, the Sales Inducement Asset included with Deferred Policy Acquisition Costs amounted to $ 16.8 million and $ 19.1 million, respectively on the consolidated balance sheet and amortization expense totaled $ 5.5 million, $ 3.7 million and $ 3.7 million for the periods ended December 31, 2019, 2018 and 2017, respectively.   Environmental Costs Liabilities are recorded when environmental assessments and remedial efforts, if applicable, are probable and the costs can be reasonably estimated. The amount of the liability is based on management’s best estimate of undiscounted future costs. Certain recoverable environmental costs related to the removal of underground storage tanks or related contamination are capitalized and amortized over the estimated useful lives of the properties. These costs are capitalized if they improve the safety or efficiency of the property or are incurred in preparing the property for sale.   Income Taxes AMERCO files a consolidated tax return with all of its legal subsidiaries. The provision for income taxes reflects deferred income taxes resulting from changes in temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements. Comprehensive Income (Loss) Comprehensive income (loss) consists of net earnings, foreign currency translation adjustments, unrealized gains and losses on investments, the change in fair value of cash flow hedges and the change in postretirement benefit obligations. Debt Issuance Costs We defer costs directly associated with acquiring third-party financing. Debt issuance costs are deferred and amortized to interest expense using the effective interest method. Debt issuance costs related to our long-term debt are reflected as a direct deduction from the carrying amount of the debt. Please see Note 9, Borrowings, of the Notes to Consolidated Financial Statements. Adoption of New Accounting Pronouncements On April 1, 2019, we adopted Accounting Standards Codification Topic 842, which require a lessee to recognize all leases with terms greater than 12 months on their balance sheet as a liability for its lease obligation, measured at the present value of lease payments not yet paid, and a corresponding asset representing its right to use the underlying asset over the lease term. The new leasing standard does not significantly change a lessee’s recognition, measurement and presentation of expenses and cash flows. Additionally, Topic 842 aligns key aspects of lessor accounting with the new revenue recognition guidance in Topic 606 (see   Note 23, Revenue Recognition) and expands disclosure of key information about leasing arrangements in an attempt to help financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases . We have determined portions of the vehicle rental contracts that convey the right to control the use of identified assets are within the scope of the accounting guidance contained in the new leasing standard. As described in Note 23, Revenue Recognition, the Company’s rental related revenues are accounted for under the revenue accounting standard Topic 606. Topic 842 requires leases to be classified as either operating or finance, with lease classification determined in a manner similar to the former lease guidance. The basic principle is that leases of all types convey the right to direct the use and obtain substantially all the economic benefits of an identified asset, meaning they create an asset and liability for lessees. Lessees classify leases as either finance leases (comparable to former capital leases) or operating leases. Costs for a finance lease are split between amortization and interest expense, with operating leases reporting a single lease expense. F- 16   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) Topic 842 substantially changed the accounting for sale-leasebacks going forward, where we are to assess if the contract qualifies as a sale under ASC 606. We have determined that our equipment sale-leasebacks do not qualify as a sale, as the buyer-lessors do not obtain control of the assets in our ongoing sale-leaseback arrangements. As a result, we expect future sale-leasebacks to be accounted for as a financial liability and the leased assets will be capitalized at cost. As all former sale-leasebacks have been accounted for as a sale, we did not reassess any former sale-leaseback transactions. We adopted the new leasing standard using the Effective Date Approach, which allows entities to only apply the new lease standard in the year of adoption. We elected the available practical expedients for existing or expired contracts of lessees and lessors wherein the Company is not required to reassess whether such contracts contain leases, the lease classification or the initial direct costs. Additionally, we elected as accounting policies to not recognize right of use assets or lease liabilities for short-term leases (i.e. those with a term of 12 months or less) and to combine lease and non-lease components in the contract for both lessee and lessor arrangements.   Adoption of this standard resulted in most of our operating lease commitments being recognized as operating lease liabilities and right-of-use (“ROU”) assets. Please see Note 18, Leases, of the Notes to Consolidated Financial Statements. On April 10, 2020, the FASB issued a question-and-answer document that allows entities to elect not evaluate whether a concession provided by a lessor to a lessee in response to COVID-19 is a lease modification. An entity that makes this election may then elect to apply the lease modification guidance to that relief or account for the concession as if it were contemplated in the existing contract. On April 1, 2019, the Company adopted ASU 2017-08, Receivables – Nonrefundable Fees and Other Cost (Subtopic 310-20), Premium Amortization on Purchased Callable Debt Securities. These amendments shorten the amortization period for certain callable debt securities held at a premium. Specifically, the amendments require the premium to be amortized to the earliest call date. The amendments do not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. The adoption of the standard did not have a material impact on our consolidated financial statements. Recent Accounting Pronouncements In June 2016, FASB issued ASU 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). This standard requires the measurement and recognition of expected credit losses held at amortized cost. This new standard requires the use of forward-looking information to estimate credit losses and requires credit losses for available for sale debt securities to be recorded through an allowance for credit losses rather than a reduction in the amortized cost basis. This update is effective for public companies for annual reporting periods beginning after December 15, 2019. In November 2019, the FASB released ASU 2019-11, Codification Improvements to Topic 326, Financial Instruments—Credit Losses, which clarified narrow issues within ASU 2016-13. Specifically, the four main clarifications include: expected recoveries for purchased financial assets with credit deterioration; transition relief for troubled debt restructurings; disclosures for accrued interest receivables; and financial assets backed by collateral maintenance provisions. The Company has completed the development of the implementation plan and is in the process of model development. The Company is evaluating whether ASU 2016-13 will have a material impact on the Company’s consolidated financial statements. In August 2018, the FASB adopted ASU 2018-12, Targeted Improvements to the Accounting for Long-Duration Contracts (“ASU 2018-12”). The amendments in this update require insurance companies to annually review and update the assumptions used for measuring the liability under long-duration contracts, such as life insurance, disability income, and annuities. The amendments are effective for fiscal years, and interim periods within those fiscal years, beginning after December 31, 2020. We are currently in the process of evaluating the impact of the adoption of this amendment on our financial statements; however, the adoption of ASU 2018-12 will impact the statements of operations because the effect of any update to the assumptions we used at the inception of the contracts will be recorded in net income. F- 17   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820) - Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”), which modifies the disclosures on fair value measurements by removing the requirement to disclose the amount and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy and the policy for the timing of such transfers. ASU 2018-13 expands the disclosure requirements for Level 3 fair value measurements, primarily focused on changes in unrealized gains and losses included in other comprehensive income. ASU 2018-13 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The adoption of the standard is not expected to have a material impact on our consolidated financial statements. In August 2018, the FASB issued ASU 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General Subtopic 715-20 - Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans (“ASU 2018-14”), which amends ASC 715 to add, remove, and clarify disclosure requirements related to defined benefit pension and other postretirement plans. ASU 2018-14 is effective for fiscal years ending after December 15, 2020. We are currently evaluating the impact of this standard on our consolidated financial statements. In March 2020, FASB issued ASU 2020-04, Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”). This standard provides temporary optional expedients and exceptions to the US GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens of the expected market transition from the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates, such as the Secured Overnight Financing Rate. Entities can elect not to apply certain modification accounting requirements to contracts affected by what the guidance calls reference rate reform, if certain criteria are met. An entity that makes this election would not have to remeasure the contracts at the modification date or reassess a previous accounting determination. The guidance is effective upon issuance and generally can be applied through December 31, 2022. We are currently evaluating the impact of these standards on our consolidated financial statements. From time to time, new accounting pronouncements are issued by the FASB or the SEC that are adopted by us as of the specified effective date. Unless otherwise discussed, these ASUs entail technical corrections to existing guidance or affect guidance related to specialized industries or entities and therefore will have minimal, if any, impact on our financial position or results of operations upon adoption.   Note 4.   Earnings Per Share Our earnings per share is calculated by dividing our earnings available to common stockholders by the weighted average common shares outstanding, basic and diluted. The weighted average common shares outstanding exclude post-1992 shares of the employee stock ownership plan that have not been committed to be released. The unreleased shares, net of shares committed to be released, were 11,949 ; and 17,581 as of March 31, 2019 and 2018, respectively. As of March 31, 2020, all of these shares have been released.   F- 18  
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Earnings Per Share
 12 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
Earnings Per Share Note 4.   Earnings Per Share Our earnings per share is calculated by dividing our earnings available to common stockholders by the weighted average common shares outstanding, basic and diluted. The weighted average common shares outstanding exclude post-1992 shares of the employee stock ownership plan that have not been committed to be released. The unreleased shares, net of shares committed to be released, were 11,949 ; and 17,581 as of March 31, 2019 and 2018, respectively. As of March 31, 2020, all of these shares have been released.
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Reinsurance Recoverables and Trade Receivables, Net
 12 Months Ended
Mar. 31, 2020
Reinsurance Disclosures [Abstract]  
Reinsurance Recoverables and Trade Receivables, Net F- 18   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) Note 5.   Reinsurance Recoverables and Trade Receivables, Net Reinsurance recoverables and trade receivables, net were as follows:     March 31,     2020   2019     (In thousands) Reinsurance recoverable $ 89,020 $ 99,615 Trade accounts receivable   59,394   90,786 Paid losses recoverable   624   2,333 Accrued investment income   25,744   25,142 Premiums and agents' balances   1,582   1,545 Independent dealer receivable   1,015   390 Other receivables   9,828   5,523     187,207   225,334 Less: Allowance for doubtful accounts   (535)   (549)   $ 186,672 $ 224,785
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Investments
 12 Months Ended
Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract]  
Investments Note 6.   Investments Expected maturities may differ from contractual maturities as borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. We deposit bonds with insurance regulatory authorities to meet statutory requirements. The adjusted cost of bonds on deposit with insurance regulatory authorities was $ 30.8 million for both December 31, 2019 and 2018. Available-for-Sale Investments Available-for-sale investments as of March 31, 2020 were as follows:       Amortized Cost   Gross Unrealized Gains   Gross Unrealized Losses More than 12 Months   Gross Unrealized Losses Less than 12 Months   Estimated Market Value           (In thousands) U.S. treasury securities and government obligations $ 112,421 $ 7,959 $ (1) $ – $ 120,379 U.S. government agency mortgage-backed securities   88,449   759   (1)   (373)   88,834 Obligations of states and political subdivisions   287,643   20,664   (155)   –   308,152 Corporate securities   1,656,425   100,302   (919)   (812)   1,754,996 Mortgage-backed securities   187,784   6,011   (1)   (107)   193,687 Redeemable preferred stocks   1,493   72   –   –   1,565   $ 2,334,215 $ 135,767 $ (1,077) $ (1,292) $ 2,467,613 F- 19   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) Available-for-sale investments as of March 31, 2019 were as follows:       Amortized Cost   Gross Unrealized Gains   Gross Unrealized Losses More than 12 Months   Gross Unrealized Losses Less than 12 Months   Estimated Market Value           (In thousands) U.S. treasury securities and government obligations $ 136,010 $ 2,409 $ (2,104) $ (447) $ 135,868 U.S. government agency mortgage-backed securities   31,101   433   (146)   (19)   31,369 Obligations of states and political subdivisions   298,955   8,079   (233)   (905)   305,896 Corporate securities   1,613,199   14,777   (14,257)   (24,986)   1,588,733 Mortgage-backed securities   148,203   880   (285)   (903)   147,895 Redeemable preferred stocks   1,493   20   –   (45)   1,468   $ 2,228,961 $ 26,598 $ (17,025) $ (27,305) $ 2,211,229   The available-for-sale tables include gross unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position. We sold available-for-sale securities with a fair value of $ 264.5 million, $ 114.8 million and $ 163.7 million in fiscal 2020, 2019 and 2018, respectively. The gross realized gains on these sales totaled $ 6.4 million, $ 2.0 million and $ 5.4 million in fiscal 2020, 2019 and 2018, respectively. We realized gross losses on these sales of $ 0.2 million, $ 0.2 million and $ 0.3 million in fiscal 2020, 2019 and 2018, respectively.   The unrealized losses of more than twelve months in the available-for-sale tables are considered temporary declines. We track each investment with an unrealized loss and evaluate them on an individual basis for other-than-temporary impairments, including obtaining corroborating opinions from third party sources, performing trend analysis and reviewing management’s future plans. Certain of these investments may have declines determined by management to be other-than-temporary and we recognized these write-downs through earnings. There were no write downs in fiscal 2020, 2019 and 2018. We reviewed our available-for-sale investments at the end of the first quarter of fiscal 2021 and noted an increase in the unrealized loss position of $50.2 million (unaudited). We reviewed credit ratings of the issuers of these securities and determined that each issuer was current on its scheduled interest, dividends or principal payments. We further reviewed the fair value of these securities a month later and observed that the unrealized loss had recovered by $23.4 million (unaudited). The investment portfolio primarily consists of corporate securities and obligations of states and political subdivisions. We believe we monitor our investments as appropriate. Our methodology of assessing other-than-temporary impairments is based on security-specific analysis as of the balance sheet date and considers various factors, including the length of time to maturity, the extent to which the fair value has been less than the cost, the financial condition and the near-term prospects of the issuer, and whether the debtor is current on its contractually obligated interest and principal payments. Nothing has come to management’s attention that would lead to the belief that any issuer would not have the ability to meet the remaining contractual obligations of the security, including payment at maturity. We have the ability and intent not to sell our fixed maturity and common stock investments for a period of time sufficient to allow us to recover our costs. The portion of other-than-temporary impairment related to a credit loss is recognized in earnings. The significant inputs utilized in the evaluation of mortgage backed securities credit losses include ratings, delinquency rates, and prepayment activity. The significant inputs utilized in the evaluation of asset backed securities credit losses include the time frame for principal recovery and the subordination and value of the underlying collateral. F- 20   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) There were no credit losses recognized in earnings for which a portion of an other-than-temporary impairment was recognized in accumulated other comprehensive loss for fiscal 2020, 2019 or 2018. The adjusted cost and estimated market value of available-for-sale investments by contractual maturity, were as follows:       March 31, 2020   March 31, 2019     Amortized Cost   Estimated Market Value   Amortized Cost   Estimated Market Value     (In thousands) Due in one year or less $ 128,747 $ 129,420 $ 71,987 $ 71,954 Due after one year through five years   547,821   566,934   541,195   540,658 Due after five years through ten years   636,036   678,636   621,031   614,485 Due after ten years   832,334   897,371   845,052   834,769     2,144,938   2,272,361   2,079,265   2,061,866                   Mortgage backed securities   187,784   193,687   148,203   147,895 Redeemable preferred stocks   1,493   1,565   1,493   1,468   $ 2,334,215 $ 2,467,613 $ 2,228,961 $ 2,211,229   As of March 31, 2018, equity investments were classified as available-for-sale on our balance sheet. However, upon adoption of ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities , on April 1, 2018, the updated guidance eliminated the available-for-sale balance sheet classification for equity investments. As of March 31, 2020 and 2019, our common stock and non-redeemable preferred stock that are included in Investments, fixed maturities and marketable equities on our balance sheet are stated in the table below. The changes in the fair value of these equity investments are recognized through Net investment and interest income.   Equity investments of common stock and non-redeemable preferred stock were as follows:     March 31, 2020   March 31, 2019     Amortized Cost   Estimated Market Value   Amortized Cost   Estimated Market Value     (In thousands) Common stocks $ 9,775 $ 20,015 $ 10,123 $ 17,379 Non-redeemable preferred stocks   5,076   5,110   7,451   6,789   $ 14,851 $ 25,125 $ 17,574 $ 24,168 Investments, other The carrying value of other investments was as follows:     March 31,     2020   2019     (In thousands) Mortgage loans, net $ 262,688 $ 225,829 Short-term investments   6,995   5,546 Real estate   69,569   53,519 Policy loans   11,212   10,491 Other equity investments   9,909   5,351   $ 360,373 $ 300,736 F- 21   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) Mortgage loans are carried at the unpaid balance, less an allowance for probable losses net of any unamortized premium or discount. The portfolio of mortgage loans is principally collateralized by self-storage facilities and commercial properties. The interest rate range on the mortgage loans is 4.1 % to 8.2 % with maturities between 2020 and 2036 . The allowance for probable losses was $ 0.5 million for both March 31, 2020 and 2019, respectively. The estimated fair value of these loans as of March 31, 2020 and 2019 were not materially different compared to the carrying value. These loans represent first lien mortgages held by us. Mortgage loans are reviewed on an ongoing basis and analysis may include market analysis, estimated valuations of the underlying collateral, loan to value ratios, tenant creditworthiness and other factors. For our mortgage loans, no specifically identified loans were impaired as of March 31, 2020. We have not experienced any material losses related to the notes from individual or groups of notes in any particular industry or geographic area. Short-term investments consist primarily of investments in money market funds, mutual funds and any other investments with short-term characteristics that have original maturities of less than one year at acquisition. These investments are recorded at cost, which approximates fair value. Real estate held for future development or use is carried at the lower of fair value at time of acquisition or current estimated fair value less cost to sell. Other equity investments are carried at cost and assessed for impairment. Insurance policy loans are carried at their unpaid balance. Note 7.   Other Assets Other assets were as follows:     March 31,     2020   2019     (In thousands) Deposits (debt-related) $ 33,020 $ 30,408 Cash surrender value of life insurance policies   31,371   30,985 Deposits (real estate related)   7,565   16,961   $ 71,956 $ 78,354   Note 8.   Net Investment and Interest Income Net investment and interest income, were as follows:     Years Ended March 31,     2020   2019   2018     (In thousands) Fixed maturities $ 107,434 $ 99,348 $ 84,476 Real estate   7,304   5,538   5,344 Insurance policy loans   974   1,305   1,212 Mortgage loans   17,164   16,674   17,783 Short-term, amounts held by ceding reinsurers, net and other investments   9,807   (7,429)   3,098 Investment income   142,683   115,436   111,913 Less: investment expenses   (4,854)   (4,502)   (4,766) Investment income - related party, net eliminations   –   –   3,326 Net investment and interest income $ 137,829 $ 110,934 $ 110,473   F- 22  
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Other Assets
 12 Months Ended
Mar. 31, 2020
Disclosure Text Block [Abstract]  
Other Assets Note 7.   Other Assets Other assets were as follows:     March 31,     2020   2019     (In thousands) Deposits (debt-related) $ 33,020 $ 30,408 Cash surrender value of life insurance policies   31,371   30,985 Deposits (real estate related)   7,565   16,961   $ 71,956 $ 78,354
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Net Investment and Interest Income
 12 Months Ended
Mar. 31, 2020
Disclosure Text Block [Abstract]  
Net Investment and Interest Income Note 8.   Net Investment and Interest Income Net investment and interest income, were as follows:     Years Ended March 31,     2020   2019   2018     (In thousands) Fixed maturities $ 107,434 $ 99,348 $ 84,476 Real estate   7,304   5,538   5,344 Insurance policy loans   974   1,305   1,212 Mortgage loans   17,164   16,674   17,783 Short-term, amounts held by ceding reinsurers, net and other investments   9,807   (7,429)   3,098 Investment income   142,683   115,436   111,913 Less: investment expenses   (4,854)   (4,502)   (4,766) Investment income - related party, net eliminations   –   –   3,326 Net investment and interest income $ 137,829 $ 110,934 $ 110,473
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Borrowings
 12 Months Ended
Mar. 31, 2020
Debt Disclosure [Abstract]  
Borrowings F- 22   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) Note 9.   Borrowings Long-Term Debt Long-term debt was as follows:                   March 31,   2020 Rates (a)   Maturities   2020   2019                   (In thousands) Real estate loan (amortizing term)     2.36 %     2023 $ 92,913 $ 102,913 Senior mortgages 3.11 % 6.62 % 2021 - 2038   2,029,878   1,741,652 Real estate loans (revolving credit) 2.98 % 3.14 % 2022 - 2025   519,000   429,400 Fleet loans (amortizing term) 1.95 % 4.66 % 2020 - 2027   224,089   263,209 Fleet loans (revolving credit) 2.73 % 2.75 % 2022 - 2024   567,000   530,000 Finance/capital leases (rental equipment) 1.92 % 5.04 % 2020 - 2026   734,870   1,042,652 Finance liability (rental equipment) 2.63 % 4.22 % 2024 - 2027   398,834   – Other obligations 2.50 % 8.00 % 2020 - 2049   84,484   82,417 Notes, loans and finance/capital leases payable               $ 4,651,068 $ 4,192,243 Less: Debt issuance costs                 (29,777)   (28,920) Total notes, loans and finance/capital leases payable, net               $ 4,621,291 $ 4,163,323                         (a) Interest rate as of March 31, 2020, taking into account the effect of applicable hedging instruments         Real Estate Backed Loans Real Estate Loan Real Estate and certain of its subsidiaries and U-Haul Company of Florida are borrowers under a real estate loan (the “Real Estate Loan”).   The Real Estate Loan requires monthly principal and interest payments, with the unpaid loan balance and accrued and unpaid interest due at maturity. The Real Estate Loan is secured by various properties owned by the borrowers.   The interest rate, per the provisions of the amended loan agreement, is the applicable London Inter-Bank Offer Rate (“LIBOR”) plus the applicable margin. As of March 31, 2020, the applicable LIBOR was 0.86 % and the applicable margin was 1.50 %, the sum of which was 2.36 %. The default provisions of the Real Estate Loan include non-payment of principal or interest and other standard reporting and change-in-control covenants. There are limited restrictions regarding our use of the funds. Senior Mortgages Various subsidiaries of Real Estate and U-Haul are borrowers under certain senior mortgages. The senior mortgages require monthly principal and interest payments. The senior mortgages are secured by certain properties owned by the borrowers. The fixed interest rates, per the provisions of the senior mortgages, range between 3.11 % and 6.62 %. Certain senior mortgages have an anticipated repayment date and a maturity date. If these senior mortgages are not repaid by the anticipated repayment date, the interest rate on these mortgages would increase from the current fixed rate. We are using the anticipated repayment date for our maturity schedule. Real Estate and U-Haul have provided limited guarantees of the senior mortgages. The default provisions of the senior mortgages include non-payment of principal or interest and other standard reporting and change-in-control covenants. There are limited restrictions regarding our use of the funds. F- 23   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) Real Estate Loans (Revolving Credit) Various subsidiaries of Real Estate are borrowers under asset-backed real estate loans with an aggregate borrowing capacity of $ 385.0 million. These loans are secured by certain properties owned by the borrowers. The loan agreements provide for term loans, subject to the terms of the loan agreements. The final maturity of the loans is between June 2022 and March 2025 . The loans require monthly interest payments with the unpaid loan balance and accrued and unpaid interest due at maturity. The interest rate, per the provision of the loan agreements, is the applicable LIBOR plus the applicable margin. As of March 31, 2020, the applicable LIBOR was between 1.58 % and 1.60 % and the margin was between 1.25 % and 1.40 %, the sum of which was between 2.85% and 3.10%. AMERCO is the guarantor of these loans. The default provisions of the loan include non-payment of principal or interest and other standard reporting and change-in-control covenants. AMERCO is a borrower under a real estate loan. The current maximum credit commitment is $ 150.0 million, which can be increased to $ 300.0 million by bringing in other lenders. As of March 31, 2020, the outstanding balance was $ 150.0 million. This loan agreement provides for revolving loans, subject to the terms of the loan agreement. This loan requires monthly interest payments with the unpaid loan balance and accrued and unpaid interest due at maturity. As of March 31, 2020, the applicable LIBOR was 1.60 % and the margin was 1.38 %, the sum of which was 2.98 %. The default provisions of the loan include non-payment of principal or interest and other standard reporting and change-in-control covenants. There is a 0.30 % fee charged for unused capacity. In April 2020, the Company expanded the borrowing capacity to $ 200.0 million, extended the maturity to April 2023 and the margin increased to 2.25 %. Fleet Loans Rental Truck Amortizing Loans The amortizing loans require monthly principal and interest payments, with the unpaid loan balance and accrued and unpaid interest due at maturity. These loans were used to purchase new trucks. The interest rates, per the provision of the loan agreements, are carried at fixed rates ranging between 1.95 % and 4.66 %. AMERCO, and in some cases U-Haul, is guarantor of these loans. The default provisions of these loans include non-payment of principal or interest and other standard reporting and change-in-control covenants. Rental Truck Revolvers Various subsidiaries of U-Haul entered into three revolving fleet loans with an aggregate borrowing capacity of $ 590.0 million. The interest rates, per the provision of the loan agreements, are the applicable LIBOR plus the applicable margin. As of March 31, 2020, the applicable LIBOR was between 1.58 % and 1.60 %, and the margin was 1.15 %, the sum of which was between 2.73% and 2.75%. Only interest is paid on the loans until the last nine months of the respective loan terms when principal becomes due monthly. Finance/Capital Leases The Finance/Capital Lease balance represents our sale-leaseback transactions of rental equipment that were entered into and classified as capital leases prior to the adoption of ASC 842 on April 1, 2019. The historical capital lease balance was reclassified to Right-of-use assets-finance, net. The agreements are generally seven (7) year terms with interest rates ranging from 1.92 % to 5.04 %.   All of our finance leases are collateralized by our rental fleet. There were no new financing leases, as assessed under the new leasing guidance, entered into during fiscal 2020. F- 24   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) Finance Liabilities Finance Liabilities represent our rental equipment financing transactions that have historically been accounted for as capital leases prior to the adoption of ASC 842 on April 1, 2019, which substantially changed the accounting for sale-leasebacks going forward. In accordance with the new leasing guidance, we assess if sale-leaseback transactions qualify as a sale at initiation by determining if a transfer of ownership occurs.   We have determined that our equipment sale-leasebacks do not qualify as a sale, as the buyer-lessors do not obtain control of the assets in our ongoing sale-leaseback arrangements. As a result, we expect future sale-leasebacks to be accounted for as a financial liability and the leased assets will be capitalized at cost.     Our finance liabilities have an average term of seven (7) years and interest rates ranging from 2.63 % to 4.22 %. These finance liabilities are collateralized by our rental fleet.   Other Obligations In February 2011, AMERCO and U.S. Bank, NA (the “Trustee”) entered into the U-Haul Investors Club ® Indenture.   AMERCO and the Trustee entered into this indenture to provide for the issuance of notes by us directly to investors over our proprietary website, uhaulinvestorsclub.com (“U-Notes ® ”). The U-Notes ® are secured by various types of collateral including, but not limited to, rental equipment and real estate.   U-Notes ® are issued in smaller series that vary as to principal amount, interest rate and maturity.   U-Notes ® are obligations of the Company and secured by the associated collateral; they are not guaranteed by any of the Company’s affiliates or subsidiaries. As of March 31, 2020, the aggregate outstanding principal balance of the U-Notes ® issued was $ 87.3 million, of which $ 2.8 million is held by our insurance subsidiaries and eliminated in consolidation. Interest rates range between 2.50 % and 8.00 % and maturity dates range between 2020 and 2049 . Oxford is a member of the Federal Home Loan Bank (“FHLB”) and, as such, the FHLB has made advances to Oxford. As of December 31, 2019, the advances had an aggregate balance of $ 60.0 million, for which Oxford pays fixed interest rates between 1.72 % and 2.95 % with maturities between March 30, 2020 and September 30, 2022. As of December 31, 2019, available-for-sale investments held with the FHLB totaled $ 117.9 million, of which $ 67.6 million were pledged as collateral to secure the outstanding advances. The balances of these advances are included within Liabilities from investment contracts on the condensed consolidated balance sheets. Annual Maturities of Notes, Loans and Finance/Capital Leases Payable The annual maturities of our notes, loans and finance/capital leases payable as of March 31, 2020 for the next five years and thereafter are as follows:     Years Ended March 31,     2021   2022   2023   2024   2025   Thereafter   Total     (In thousands) Notes, loans and finance/capital leases payable, secured $ 459,184 $ 510,933 $ 1,011,688 $ 755,025 $ 393,498 $ 1,520,740 $ 4,651,068     F- 25  
v3.20.1
Interest on Borrowings
 12 Months Ended
Mar. 31, 2020
Interest Expense, Borrowings [Abstract]  
Interest on Borrowings F- 25   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) Note 10.   Interest on Borrowings Interest Expense Components of interest expense include the following:     Years Ended March 31,     2020   2019   2018     (In thousands) Interest expense $ 180,444 $ 150,609 $ 125,412 Capitalized interest   (23,517)   (12,733)   (6,466) Amortization of transaction costs   4,427   3,745   3,867 Interest expense resulting from cash flow hedges   (404)   824   3,893 Total interest expense   160,950   142,445   126,706   Interest paid in cash, including payments related to derivative contracts, amounted to $ 168.1 million, $ 149.8 million and $ 129.3 million for fiscal 2020, 2019 and 2018, respectively. Interest Rates Interest rates and our revolving credit borrowings were as follows:     Revolving Credit Activity       Years Ended March 31,       2020   2019   2018       (In thousands, except interest rates)   Weighted average interest rate during the year   3.31 % 3.39 % 2.48 % Interest rate at year end   2.86 % 3.60 % 2.84 % Maximum amount outstanding during the year $ 1,086,000 $ 959,400 $ 538,000   Average amount outstanding during the year $ 1,002,081 $ 699,415 $ 517,997   Facility fees $ 193 $ 374 $ 410  
v3.20.1
Derivatives
 12 Months Ended
Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives Note 11.   Derivatives We manage exposure to changes in market interest rates. Our use of derivative instruments is limited to highly effective interest rate swaps to hedge the risk of changes in cash flows (future interest payments) attributable to changes in LIBOR swap rates, with the designated benchmark interest rate being hedged on certain of our LIBOR indexed variable rate debt and a variable rate operating lease. The interest rate swaps effectively fix our interest payments on certain LIBOR indexed variable rate debt. We monitor our positions and the credit ratings of its counterparties and do not currently anticipate non-performance by the counterparties. Interest rate swap agreements are not entered into for trading purposes. These fair values are determined using pricing valuation models which include broker quotes for which significant inputs are observable. They include adjustments for counterparty credit quality and other deal-specific factors, where appropriate and are classified as Level 2 in the fair value hierarchy. The derivative fair values reflected in prepaid expense and accounts payable and accrued expenses in the consolidated balance sheet were as follows:           March 31, 2020   March 31, 2019     (In thousands) Interest rate contracts designated as hedging instruments         Assets $ – $ 139 Liabilities   8,214   – Notional amount (debt)   235,000   22,792   F- 26   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued)     The Effect of Interest Rate     Contracts on the Statements of Operations     Years Ended March 31,     2020   2019   2018     (In thousands) (Gain) loss recognized in AOCI on interest rate contracts $ 8,356 $ (633) $ (4,445) (Gain) loss reclassified from AOCI into income $ (401) $ 789 $ 3,893   Gains or losses recognized in income on derivatives are recorded as interest expense in the consolidated statements of operations.   During fiscal year 2020, we recognized a decrease in the fair value of our cash flow hedges of $ 6.3 million, net of taxes.   During fiscal year 2020, we reclassified $ 0.4 million from accumulated other comprehensive income (loss) (“AOCI”) to interest expense.   As of March, 31 2020, we expect to reclassify $ 0.4 million of net gains on interest contracts from AOCI to earnings as interest expense over the next twelve months. We use derivatives to hedge our equity market exposure to indexed annuity products sold by our Life Insurance company. These contracts earn a return for the contractholder based on the change in the value of the S&P 500 index between annual index point dates. We buy and sell listed equity and index call options and call option spreads. The credit risk is with the party in which the options are written. The net option price is paid up front and there are no additional cash requirements or additional contingent liabilities. These contracts are held at fair market value on our balance sheet. At March 31, 2020 and 2019, these derivative hedges had a net market value of $ 5.9 million and $ 1.5 million, with notional amounts of $ 246.8   million and $ 284.0   million, respectively. These derivative instruments are included in Investments, other; on the consolidated balance sheets. The fair values of these call options are determined based on quoted market prices from the relevant exchange and are classified as Level 1 in the fair value hierarchy. Although the call options are employed to be effective hedges against our policyholder obligations from an economic standpoint, they do not meet the requirements for hedge accounting under GAAP. Accordingly, the call options are marked to fair value on each reporting date with the change in fair value, plus or minus, included as a component of net investment and interest income. The change in fair value of the call options include the gains or losses recognized at the expiration of the option term and the changes in fair value for open contracts.
v3.20.1
Accumulated Other Comprehensive Income
 12 Months Ended
Mar. 31, 2020
Disclosure Text Block [Abstract]  
Other Comprehensive Income Noncontrolling Interest [Text Block] Note 12.   Accumulated Other Comprehensive Income (Loss) A summary of our AOCI components, net of tax, were as follows:       Foreign Currency Translation   Unrealized Net Gain on Investments   Fair Market Value of Cash Flow Hedges   Postretirement Benefit Obligation Net Loss   Accumulated Other Comprehensive Income (Loss)           (In thousands) Balance as of March 31, 2019 $ (56,612) $ (7,259) $ 107 $ (2,934) $ (66,698) Foreign currency translation   9,377   –   –   –   9,377 Unrealized net gain on investments   –   97,943   –   –   97,943 Change in fair value of cash flow hedges   –   –   (6,301)   –   (6,301) Amounts reclassified into earnings on hedging activities   –   –   (2)   –   (2) Change in post retirement benefit obligaiton   –   –   –   333   333 Other comprehensive income (loss)   9,377   97,943   (6,303)   333   101,350 Balance as of March 31, 2020 $ (47,235) $ 90,684 $ (6,196) $ (2,601) $ 34,652
v3.20.1
Stockholders' Equity
 12 Months Ended
Mar. 31, 2020
Stockholders' Equity Attributable to Parent [Abstract]  
Stockholders' Equity F- 27   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) Note 13. Stockholders’ Equity The following table lists the dividends that have been declared and issued for fiscal years 2020 and 2019. Common Stock Dividends Declared Date   Per Share Amount   Record Date   Dividend Date               December 4, 2019 $ 0.50   December 19, 2019   January 6, 2020 August 22, 2019   0.50   September 9, 2019   September 23, 2019 March 6, 2019   0.50   March 21, 2019   April 4, 2019 December 5, 2018   0.50   December 20, 2018   January 7, 2019 August 23, 2018   0.50   September 10, 2018   September 24, 2018 June 6, 2018   0.50   June 21, 2018   July 5, 2018   On June 8, 2016, our stockholders’ approved the 2016 AMERCO Stock Option Plan (Shelf Stock Option Plan). As of March 31, 2020, no awards had been issued under this plan.
v3.20.1
Provision for Taxes
 12 Months Ended
Mar. 31, 2020
Disclosure Text Block [Abstract]  
Provision for Taxes Note 14.   Provision for Taxes Earnings before taxes and the provision for taxes consisted of the following:     Years Ended March 31,     2020   2019   2018     (In thousands) Pretax earnings:             U.S. $ 372,687 $ 466,175 $ 628,901 Non-U.S.   5,437   11,354   8,712 Total pretax earnings $ 378,124 $ 477,529 $ 637,613               Current provision (benefit)             Federal $ (373,817) $ (6,114) $ 21,780 State   (9,600)   3,420   6,471 Non-U.S.   949   1,375   1,412     (382,468)   (1,319)   29,663 Deferred provision (benefit)             Federal   307,846   94,961   (199,415) State   9,728   11,311   15,479 Non-U.S.   970   1,719   1,303     318,544   107,991   (182,633)               Provision for income tax expense (benefit) $ (63,924) $ 106,672 $ (152,970)               Income taxes paid (net of income tax refunds received) $ 6,859 $ 4,255 $ 68,671 F- 28   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) The difference between the tax provision at the statutory federal income tax rate and the tax provision attributable to income before taxes was as follows:     Years Ended March 31,       2020   2019   2018       (in percentages)   Statutory federal income tax rate   21.00 % 21.00 % 31.55 % Increase (reduction) in rate resulting from:               Deferred tax liability revaluation   – % – % (58.25) % NOL tax rate benefit   (38.62) % – % – % State taxes, net of federal benefit   0.02 % 2.41 % 2.33 % Foreign rate differential   0.21 % 0.15 % – % Federal tax credits   (0.53) % (0.15) % (0.32) % Transition tax   – % (0.20) % 1.83 % Tax-exempt income   (0.17) % – % – % Dividend received deduction   (0.01) % (0.01) % (0.03) % Phase III tax   – % – % 0.63 % Other   1.19 % (0.86) % (1.73) % Actual tax expense (benefit) of operations   (16.91) % 22.34 % (23.99) %     Significant components of our deferred tax assets and liabilities were as follows:       March 31,     2020   2019 Deferred tax assets:   (In thousands) Net operating loss and credit carry forwards $ 25,973 $ 90,061 Accrued expenses   105,171   105,727 Policy benefit and losses, claims and loss expenses payable, net   20,189   16,515 Operating leases   22,353   – Total deferred tax assets $ 173,686 $ 212,303           Deferred tax liabilities:         Property, plant and equipment $ 1,198,198 $ 940,433 Operating leases   22,353   – Deferred policy acquisition costs   12,795   14,191 Unrealized gains   29,873   4,223 Other   4,010   4,426 Total deferred tax liabilities   1,267,229   963,273 Net deferred tax liability $ 1,093,543 $ 750,970   On March 27, 2020, President Trump signed into U.S. federal law the Coronavirus Aid, Relief and Economic Security (the “CARES Act”), which is aimed at providing emergency assistance and health care for individuals, families, and businesses affected by COVID-19 and generally supporting the U.S. economy.   Among other things, the CARES Act includes provisions relating to net operating loss (“NOL”) carryback periods, alternative minimum tax (“AMT”) credit refunds, modifications to the net interest deduction limitations and technical corrections to tax depreciation methods for qualified improvement property.   In particular, the CARES Act allows for NOLs generated in 2018, 2019, or 2020 to be carried back 5 years. F- 29   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) As a result, the NOL and credit carry-forwards in the above table are primarily attributable to state NOLs.   Federal NOLs from fiscal years 2018, 2019 and 2020 have been carried back to prior tax years as provided by the CARES Act.   The statutory tax rate for the carryback years was 35% as compared to 21% at present.   Consequently, we recognized a benefit amount of $ 146.0 million for fiscal year 2020.   It is possible future legislation could reduce or delay our ability to carryback these losses. As of March 31, 2020 and March 31, 2019, AMERCO had state NOLs of $ 337.3 million and $ 172.3 million, respectively, that will begin to expire March 31, 2021, if not utilized. The 2017 Tax Cuts and Jobs Act (the “Tax Reform Act”) was enacted on December 22, 2017. The Tax Reform Act reduced the U.S. federal corporate income tax rate from 35% to 21%, required companies to pay a one-time transition tax on earnings of certain foreign subsidiaries that were previously tax deferred, and repealed the deferral of the phase three tax for life insurance companies. The blended statutory Federal Tax Rate for our full fiscal year 2018 was 31.55 %. As of December 22, 2018, we completed our accounting for the tax effects of enactment of the Tax Reform Act. For fiscal year 2018, we recognized a benefit amount of $ 356.6 million, which was included as a component of income tax expense from continuing operations. For fiscal year 2018, we re-measured certain deferred tax assets and liabilities based on the rates they are expected to reverse in the future which is generally 21%.   The amount recorded related to the re-measurement of our deferred tax balance was a benefit of $ 371.5 million for fiscal year 2018. As of December 31, 2017, the Company elected to reclassify the income tax effects of the Tax Reform Act in the amount of $ 8.7 million from AOCI to retained earnings under ASU 2018-02. In addition, the Company has adopted the "investment by investment" approach as our accounting policy with regard to releasing disproportionate income tax effects from AOCI. For fiscal year 2018, we calculated and recorded a one-time transition tax on earnings from foreign subsidiaries based on the post-1986 earnings and profits of our Canadian subsidiaries that were previously deferred from U.S. income taxes.   The effect of this one-time transition tax liability for our foreign subsidiaries resulted in an increase in income tax expense of $ 10.7 million for fiscal year 2018. No additional income taxes have been provided for any remaining undistributed foreign earnings not subject to transition tax, or any additional outside basis difference inherent in these entities, as these amounts continue to be indefinitely reinvested in foreign operations. Determining the amount of unrecognized deferred tax liability related to any remaining undistributed foreign earnings not subject to the transition tax and additional outside basis difference in these entities (i.e., basis difference in excess of that subject to the one-time transition tax) is not practicable. The Tax Reform Act repeals the special rules with regard to distribution to shareholders from pre-1984 policyholders surplus account. This one-time tax was based on the balance of our pre-1984 policyholder surplus account. We reported the amount of our one-time tax liability for Phase Three Tax, resulting in an increase in income tax expense of $ 4.2 million for fiscal year 2018. The Company accounts for uncertainty in income taxes by recognizing the tax benefit or expense from an uncertain tax position only if it is more likely than not that the tax position will be sustained upon examination by the taxing authorities, based on the technical merits of the position. The Company measures the tax benefits and expenses recognized in the consolidated financial statements from such a position based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate resolution. F- 30   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) A reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period are as follows:     Unrecognized Tax Benefits     March 31,     2020   2019     (In thousands)           Unrecognized tax benefits beginning balance $ 37,201 $ 35,739 Revaluation based on change in after tax benefit   –   – Additions based on tax positions related to the current year   42   1,887 Reductions for tax positions of prior years   (7,606)   (46) Settlements   (5)   (379) Unrecognized tax benefits ending balance $ 29,632 $ 37,201 We recognize interest related to unrecognized tax benefits as interest expense, and penalties as income tax expenses. At March 31, 2020 and 2019, the amount of interest accrued on unrecognized tax benefits was $ 12.8 million and $ 9.5 million, net of tax. During the current year we recorded expense from interest in the amount of $ 3.3 million, net of tax. We file income tax returns in the U.S. federal jurisdiction, and various states and Canadian jurisdictions. While the Company has ongoing audits in Canada and various state jurisdictions, there have been no proposed or anticipated adjustments that would materially impact the financial statements. With some exceptions, we are no longer subject to audit for years prior to the fiscal year ended March 31, 2017.   Note 15.   Employee Benefit Plans Profit Sharing Plans We provide tax-qualified profit sharing retirement plans for the benefit of eligible employees, former employees and retirees in the United States and Canada. The plans are designed to provide employees with an accumulation of funds for retirement on a tax-deferred basis and provide for annual discretionary employer contributions. Amounts to be contributed are determined by the President and Chairman of the Board of Directors (the “Board”) of the Company under the delegation of authority from the Board, pursuant to the terms of the Profit Sharing Plan. No contributions were made to the profit sharing plan during fiscal 2020, 2019 or 2018. We also provide an employee savings plan which allows participants to defer income under Section 401(k) of the Internal Revenue Code of 1986. ESOP Plan We sponsor an Employee Stock Ownership Plan (“ESOP”) that generally covers all employees with one year or more of service. The ESOP began as a leveraged plan where shares were pledged as collateral for its debt which was originally funded by U-Haul. We made annual contributions to the ESOP equal to the ESOP’s debt service. As the debt was repaid, shares were released from collateral and allocated to active employees, based on the proportion of debt service paid in the year. ESOP shares were committed to be released monthly and ESOP compensation expense was recorded based on the current market price at the end of the month. These shares then become outstanding for the earnings per share computations.   In fiscal 2020 we delivered the plan and now contributions are made at the discretion of management with expense being recognized upon the decision to contribute.   ESOP compensation expense was $ 10.3 million, $ 11.3 million and $ 11.4 million for fiscal 2020, 2019 and 2018, respectively, which are included in operating expenses in the consolidated statements of operations. F- 31  
v3.20.1
Employee Benefit Plans
 12 Months Ended
Mar. 31, 2020
Compensation and Retirement Disclosure [Abstract]  
Employee Benefit Plans Note 15.   Employee Benefit Plans Profit Sharing Plans We provide tax-qualified profit sharing retirement plans for the benefit of eligible employees, former employees and retirees in the United States and Canada. The plans are designed to provide employees with an accumulation of funds for retirement on a tax-deferred basis and provide for annual discretionary employer contributions. Amounts to be contributed are determined by the President and Chairman of the Board of Directors (the “Board”) of the Company under the delegation of authority from the Board, pursuant to the terms of the Profit Sharing Plan. No contributions were made to the profit sharing plan during fiscal 2020, 2019 or 2018. We also provide an employee savings plan which allows participants to defer income under Section 401(k) of the Internal Revenue Code of 1986. ESOP Plan We sponsor an Employee Stock Ownership Plan (“ESOP”) that generally covers all employees with one year or more of service. The ESOP began as a leveraged plan where shares were pledged as collateral for its debt which was originally funded by U-Haul. We made annual contributions to the ESOP equal to the ESOP’s debt service. As the debt was repaid, shares were released from collateral and allocated to active employees, based on the proportion of debt service paid in the year. ESOP shares were committed to be released monthly and ESOP compensation expense was recorded based on the current market price at the end of the month. These shares then become outstanding for the earnings per share computations.   In fiscal 2020 we delivered the plan and now contributions are made at the discretion of management with expense being recognized upon the decision to contribute.   ESOP compensation expense was $ 10.3 million, $ 11.3 million and $ 11.4 million for fiscal 2020, 2019 and 2018, respectively, which are included in operating expenses in the consolidated statements of operations. F- 31   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) Listed below is a summary of these financing arrangements as of fiscal year-end:     Outstanding as of   Interest Payments Financing Date   March 31, 2020   2020   2019   2018     (In thousands) June, 1991 $ – $ – $ 1 $ 1 July, 2009   –   9   17   26 February, 2016   –   229   190   242   Leveraged contributions to the Plan Trust during fiscal 2020, 2019 and 2018 were $ 5.6 million, $ 1.0 million and $ 1.0 million, respectively. In fiscal 2020, 2019 and 2018, the Company made non-leveraged contributions of $ 4.0 million, $ 5.2 and $ 11.0 million, respectively to the Plan Trust. In both fiscal 2020 and 2019, $ 0.0 million of dividends from unallocated shares were applied to debt. Shares held by the Plan were as follows:     Years Ended March 31,     2020   2019     (In thousands) Allocated shares   1,003   1,069 Unreleased shares - leveraged   –   16 Fair value of unreleased shares - leveraged $ – $ 6,019 Unreleased shares - non-leveraged   –   – Fair value of unreleased shares - non-leveraged $ – $ –   The fair value of unreleased shares issued prior to 1992 is defined as the historical cost of such shares. The fair value of unreleased shares issued subsequent to December 31, 1992 is defined as the trading value of such shares as of March 31, 2020 and March 31, 2019, respectively. During fiscal 2020, we released for allocation 16,558 leveraged shares and 13,989 non-leveraged shares. As of March 31, 2020, it is estimated there will be no shares committed to be released. Post Retirement and Post Employment Benefits We provide a health reimbursement benefit to our eligible U.S. employees and their eligible dependents upon retirement from the Company. The retiree must have attained age sixty-five and earned twenty years of full-time service upon retirement to be awarded the health reimbursement benefit. The health reimbursement benefit is capped at a $ 20,000 lifetime maximum per covered person. Reimbursements are coordinated with Medicare and any other medical policies in force. In addition, retirees who have attained age sixty-five and earned at least twenty years of full-time service upon retirement from the Company are entitled to group term life insurance benefits. The life insurance benefit is $ 3,000 plus $ 100 for each year of employment over twenty years. The benefits are not funded, and claims are paid as they are incurred. We use a March 31 measurement date for our post retirement benefit disclosures. The components of net periodic post retirement benefit cost were as follows:     Years Ended March 31,     2020   2019   2018     (In thousands) Service cost for benefits earned during the period $ 1,055 $ 1,108 $ 1,073 Other components of net periodic benefit costs:             Interest cost on accumulated postretirement benefit   964   943   869 Other components   90   70   58 Total other components of net periodic benefit costs   1,054   1,013   927 Net periodic postretirement benefit cost $ 2,109 $ 2,121 $ 2,000 F- 32   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued)   The fiscal 2020 and fiscal 2019 post retirement benefit liability included the following components:       Years Ended March 31,     2020   2019     (In thousands) Beginning of year $ 25,817 $ 23,316 Service cost for benefits earned during the period   1,055   1,108 Interest cost on accumulated post retirement benefit   964   943 Net benefit payments and expense   (93)   (979) Actuarial (gain) loss   (240)   1,429 Accumulated postretirement benefit obligation   27,503   25,817           Current liabilities   1,151   1,037 Non-current liabilities   26,352   24,780           Total post retirement benefit liability recognized in statement of financial position   27,503   25,817 Components included in accumulated other comprehensive income (loss):         Unrecognized net loss   (3,447)   (3,890) Cumulative net periodic benefit cost (in excess of employer contribution) $ 24,056 $ 21,927   The discount rate assumptions in computing the information above were as follows:       Years Ended March 31,     2020 2019 2018     (In percentages)   Accumulated postretirement benefit obligation   3.37 % 3.83 % 3.98 %   In December 2003, the Medicare Prescription Drug Improvement and Modernization Act of 2003 became law. Net periodic post retirement benefit cost above includes the effect of the subsidy. The discount rate represents the expected yield on a portfolio of high grade (AA to AAA rated or equivalent) fixed income investments with cash flow streams sufficient to satisfy benefit obligations under the plan when due. Fluctuations in the discount rate assumptions primarily reflect changes in U.S. interest rates. The assumed health care cost trend rate used to measure the accumulated postretirement benefit obligation as of the end of fiscal 2020 was 6.5 % in the initial year and was projected to decline annually to an ultimate rate of 4.5 % in fiscal 2038. The assumed health care cost trend rate used to measure the accumulated post retirement benefit obligation as of the end of fiscal 2019 (and used to measure the fiscal 2020 net periodic benefit cost) was 6.9 % in the initial year and was projected to decline annually to an ultimate rate of 4.5 % in fiscal 2038. If the estimated health care cost trend rate assumptions were increased by one percent, the accumulated post retirement benefit obligation as of fiscal year-end would increase by $ 246 thousand and the total of the service cost and interest cost components would increase by $ 25 thousand. A decrease in the estimated health care cost trend rate assumption of one percent would decrease the accumulated post retirement benefit obligation as of fiscal year-end by $ 278 thousand and the total of the service cost and interest cost components would decrease by $ 29 thousand. F- 33   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) Post employment benefits provided by us, other than upon retirement, are not material. Future net benefit payments are expected as follows:       Future Net Benefit Payments     (In thousands) Year-ended:     2021 $ 1,151 2022   1,350 2023   1,547 2024   1,753 2025   1,965 2026 through 2029   11,581 Total $ 19,347   Note 16.   Fair Value Measurements Certain assets and liabilities are recorded at fair value on the consolidated balance sheets and are measured and classified based upon a three-tiered approach to valuation. Financial assets and liabilities recorded at fair value and are classified and disclosed in one of the following three categories: Level 1 – Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;   Level 2 – Quoted prices for identical or similar financial instruments in markets that are not considered to be active, or similar financial instruments for which all significant inputs are observable, either directly or indirectly, or inputs other than quoted prices that are observable, or inputs that are derived principally from or corroborated by observable market data through correlation or other means; and Level 3 – Prices or valuations that require inputs that are both significant to the fair value measurement and are unobservable. These reflect management’s assumptions about the assumptions a market participant would use in pricing the asset or liability. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Fair values of cash equivalents approximate carrying value due to the short period of time to maturity. Fair values of short-term investments, investments available-for-sale, long-term investments, mortgage loans and notes on real estate, and interest rate swap contracts are based on quoted market prices, dealer quotes or discounted cash flows. Fair values of trade receivables approximate their recorded value. Our financial instruments that are exposed to concentrations of credit risk consist primarily of temporary cash investments, trade receivables, reinsurance recoverables and notes receivable. Limited credit risk exists on trade receivables due to the diversity of our customer base and their dispersion across broad geographic markets. We place our temporary cash investments with financial institutions and limit the amount of credit exposure to any one financial institution. We have mortgage receivables, which potentially expose us to credit risk. The portfolio of notes is principally collateralized by self-storage facilities and commercial properties. We have not experienced any material losses related to the notes from individual or groups of notes in any particular industry or geographic area. The estimated fair values were determined using the discounted cash flow method and using interest rates currently offered for similar loans to borrowers with similar credit ratings. The carrying amount of long-term debt and short-term borrowings are estimated to approximate fair value as the actual interest rate is consistent with the rate estimated to be currently available for debt of similar term and remaining maturity. F- 34  
v3.20.1
Fair Value Measurements
 12 Months Ended
Mar. 31, 2020
Fair Value Disclosures [Abstract]  
Fair Value Measurements Note 16.   Fair Value Measurements Certain assets and liabilities are recorded at fair value on the consolidated balance sheets and are measured and classified based upon a three-tiered approach to valuation. Financial assets and liabilities recorded at fair value and are classified and disclosed in one of the following three categories: Level 1 – Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;   Level 2 – Quoted prices for identical or similar financial instruments in markets that are not considered to be active, or similar financial instruments for which all significant inputs are observable, either directly or indirectly, or inputs other than quoted prices that are observable, or inputs that are derived principally from or corroborated by observable market data through correlation or other means; and Level 3 – Prices or valuations that require inputs that are both significant to the fair value measurement and are unobservable. These reflect management’s assumptions about the assumptions a market participant would use in pricing the asset or liability. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Fair values of cash equivalents approximate carrying value due to the short period of time to maturity. Fair values of short-term investments, investments available-for-sale, long-term investments, mortgage loans and notes on real estate, and interest rate swap contracts are based on quoted market prices, dealer quotes or discounted cash flows. Fair values of trade receivables approximate their recorded value. Our financial instruments that are exposed to concentrations of credit risk consist primarily of temporary cash investments, trade receivables, reinsurance recoverables and notes receivable. Limited credit risk exists on trade receivables due to the diversity of our customer base and their dispersion across broad geographic markets. We place our temporary cash investments with financial institutions and limit the amount of credit exposure to any one financial institution. We have mortgage receivables, which potentially expose us to credit risk. The portfolio of notes is principally collateralized by self-storage facilities and commercial properties. We have not experienced any material losses related to the notes from individual or groups of notes in any particular industry or geographic area. The estimated fair values were determined using the discounted cash flow method and using interest rates currently offered for similar loans to borrowers with similar credit ratings. The carrying amount of long-term debt and short-term borrowings are estimated to approximate fair value as the actual interest rate is consistent with the rate estimated to be currently available for debt of similar term and remaining maturity. F- 34   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) Other investments including short-term investments are substantially current or bear reasonable interest rates. As a result, the carrying values of these financial instruments approximate fair value. The carrying values and estimated fair values for the financial instruments stated above and their placement in the fair value hierarchy are as follows:     Fair Value Hierarchy Year Ended March 31, 2020   Carrying Value   Level 1   Level 2   Level 3   Total Estimated Fair Value     (In thousands) Assets                     Reinsurance recoverables and trade receivables, net $ 186,672 $ – $ – $ 186,672 $ 186,672 Mortgage loans, net   262,688   –   –   262,688   262,688 Other investments   97,685   –   –   97,685   97,685 Total $ 547,045 $ – $ – $ 547,045 $ 547,045                                             Liabilities                     Notes, loans and finance/capital leases payable $ 4,651,068 $ – $ 4,651,068 $ – $ 4,342,308 Total $ 4,651,068 $ – $ 4,651,068 $ – $ 4,342,308         Fair Value Hierarchy Year Ended March 31, 2019   Carrying Value   Level 1   Level 2   Level 3   Total Estimated Fair Value     (In thousands) Assets                     Reinsurance recoverables and trade receivables, net $ 224,785 $ – $ – $ 224,785 $ 224,785 Mortgage loans, net   225,829   –   –   225,829   225,829 Other investments   74,907   –   –   74,907   74,907 Total $ 525,521 $ – $ – $ 525,521 $ 525,521                                             Liabilities                     Notes, loans and finance/capital leases payable $ 4,192,243   – $ 4,192,243 $ – $ 4,192,243 Total $ 4,192,243 $ – $ 4,192,243 $ – $ 4,192,243 F- 35   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) The following tables represent the financial assets and liabilities on the condensed consolidated balance sheets as of March 31, 2020 and 2019, that are measured at fair value on a recurring basis and the level within the fair value hierarchy.   Year Ended March 31, 2020   Total   Level 1   Level 2   Level 3     (In thousands) Assets                 Short-term investments $ 369,279 $ 368,968 $ 311 $ – Fixed maturities - available for sale   2,466,048   7,156   2,458,731   161 Preferred stock   6,675   6,675   –   – Common stock   20,015   20,015   –   – Derivatives   5,944   5,944   –   – Total $ 2,867,961 $ 408,758 $ 2,459,042 $ 161                                     Liabilities                 Derivatives $ 8,214 $ – $ 8,214 $ – Total $ 8,214 $ – $ 8,214 $ –   Year Ended March 31, 2019   Total   Level 1   Level 2   Level 3     (In thousands) Assets                 Short-term investments $ 463,847 $ 463,599 $ 248 $ – Fixed maturities - available for sale   2,209,761   7,327   2,202,213   221 Preferred stock   8,257   8,257   –   – Common stock   17,379   17,379   –   – Derivatives   1,607   1,468   139   – Total $ 2,700,851 $ 498,030 $ 2,202,600 $ 221                                     Liabilities                 Derivatives $ – $ – $ – $ – Total $ – $ – $ – $ –   The fair value measurements of our assets using significant unobservable inputs (Level 3) were $0.2 million and $0.3 million as of March 31, 2020 and 2019, respectively.   F- 36  
v3.20.1
Reinsurance and Policy Benefits and Losses, Claims and Loss Expenses Payable
 12 Months Ended
Mar. 31, 2020
Disclosure Text Block [Abstract]  
Reinsurance and Policy Benefits and Losses, Claims and Loss Expenses Payable F- 36   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) Note 17.   Reinsurance and Policy Benefits and Losses, Claims and Loss Expenses Payable During their normal course of business, our insurance subsidiaries assume and cede reinsurance on both a coinsurance and a risk premium basis. They also obtain reinsurance for that portion of risks exceeding their retention limits. The maximum amount of life insurance retained on any one life is $ 125,000 .       Direct Amount (a)   Ceded to Other Companies   Assumed from Other Companies   Net Amount (a)   Percentage of Amount Assumed to Net       (In thousands)   Year ended December 31, 2019                       Life insurance in force $ 957,280 $ 7 $ 441,563 $ 1,398,836   32 % Premiums earned:                       Life $ 53,289 $ 1 $ 5,629 $ 58,917   10 % Accident and health   66,863   226   1,563   68,200   2 % Annuity   65   –   794   859   92 % Property and casualty   69,126   –   15   69,141   – % Total $ 189,343 $ 227 $ 8,001 $ 197,117                               Year ended December 31, 2018                       Life insurance in force $ 941,822 $ 207 $ 548,152 $ 1,489,767   37 % Premiums earned:                       Life $ 51,691 $ (1) $ (69,616) $ (17,924)   388 % Accident and health   77,813   267   1,851   79,397   2 % Annuity   1,221   –   794   2,015   39 % Property and casualty   60,848   –   –   60,848   – % Total $ 191,573 $ 266 $ (66,971) $ 124,336                               Year ended December 31, 2017                       Life insurance in force $ 947,720 $ 248 $ 876,865 $ 1,824,337   48 % Premiums earned:                       Life $ 51,227 $ 4 $ 9,880 $ 61,103   16 % Accident and health   90,396   295   1,977   92,078   2 % Annuity   728   –   794   1,522   52 % Property and casualty   57,161   69   8   57,100   – % Total $ 199,512 $ 368 $ 12,659 $ 211,803       (a)   Balances are reported net of inter-segment transactions.   Reserves for recognizing a premium deficiency included in future policy benefits are established, if necessary, when the liability for future policy benefits plus the present value of expected future gross premiums are determined to be materially insufficient to provide for expected future policy benefits and expenses. Additionally, in certain instances the policyholder liability for a particular line of business may not be deficient in the aggregate to trigger loss recognition, but the pattern of earnings may be such that profits are expected to be recognized in earlier years followed by losses in later years. In these situations, accounting standards require that an additional liability be recognized by an amount necessary to sufficiently offset the losses that would be recognized in later years. The Company has not recognized any reserves related to premium deficiencies in the years ended December 31, 2019 and December 31, 2018. To the extent that a reinsurer is unable to meet its obligation under the related reinsurance agreements, Repwest would remain liable for the unpaid losses and loss expenses. Pursuant to certain of these agreements, Repwest holds letters of credit as of December 31, 2019 in the amount of $ 0.1 million from re-insurers and has issued letters of credit in the amount of $ 1.9 million in favor of certain ceding companies. F- 37   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) Policy benefits and losses, claims and loss expenses payable for Property and Casualty Insurance were as follows:       December 31,     2019   2018     (In thousands) Unpaid losses and loss adjustment expense $ 209,127 $ 228,970 Reinsurance losses payable   1,214   988 Total $ 210,341 $ 229,958     Activity in the liability for unpaid losses and loss adjustment expenses for Property and Casualty Insurance is summarized as follows:       December 31,     2019   2018   2017     (In thousands) Balance at January 1 $ 228,970 $ 233,554 $ 244,400 Less: reinsurance recoverable   94,920   94,490   103,952 Net balance at January 1   134,050   139,064   140,448 Incurred related to:             Current year   22,137   19,579   15,749 Prior years   (9,535)   (5,365)   233 Total incurred   12,602   14,214   15,982 Paid related to:             Current year   7,366   8,838   8,969 Prior years   17,242   10,390   8,397 Total paid   24,608   19,228   17,366 Net balance at December 31   122,044   134,050   139,064 Plus: reinsurance recoverable   87,083   94,920   94,490 Balance at December 31 $ 209,127 $ 228,970 $ 233,554   Prior year incurred losses were impacted by favorable development on numerous Excess Workers Compensation claims. The liability for incurred losses and loss adjustment expenses (net of reinsurance recoverable of $ 87.1 million) decreased by $ 19.8 million as of December 31, 2019. F- 38   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) The information about property and casualty incurred and paid loss and loss adjustment expense development for the years end December 31, 2013 through 2019, and the average annual percentage payout of incurred claims by age as of December 31, 2019, is presented as supplementary information. Claims data for 2013 through 2018 is unaudited. Claims data for 2019 is audited.   Cumulative Incurred Claims and Allocted Claims Adjustment Expenses, Net of Reinsurance                                 As of                                 December 31, 2019                                 Total of                                     Incurred-but-                                     Not-Reported                                     Liabilities Plus                                     Expected   Cumulative                                 Development   Number of Accident                               on Reported   Reported Year   2013   2014   2015   2016   2017   2018   2019   Claims   Claims         (In thousands, except claim counts)     2013 $ 9,861 $ 9,853 $ 9,914 $ 9,741 $ 9,576 $ 9,595 $ 9,594 $ –   7,652 2014       11,691   10,907   10,720   10,759   10,748   10,493   78   9,627 2015           12,214   12,459   12,460   12,464   11,087   –   10,652 2016               13,297   13,011   13,056   11,790   –   10,954 2017                   15,749   16,109   17,078   1,411   11,291 2018                       19,580   18,386   4,692   11,083 2019                           22,138   10,743   10,745                             Total   16,924       The following table presents paid claims development as of December 31, 2019, net of reinsurance. Claims data for 2013 through 2018 is unaudited. Claims data for 2019 is audited.   Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance         (In thousands) Accident                             Year   2013   2014   2015   2016   2017   2018   2019 2013 $ 5,227 $ 7,608 $ 8,718 $ 9,462 $ 9,576 $ 9,595 $ 9,594 2014       6,154   8,087   9,270   9,293   10,325   10,327 2015           7,509   9,601   9,730   10,343   11,087 2016               7,777   10,665   11,643   11,746 2017                   8,969   11,638   14,825 2018                       8,838   12,689 2019                           7,366                     Total   Total   77,634 All outstanding liabilities before 2013, net of reinsurance       99,113 Liabilities for claims and claim adjustment expenses, net of reinsurance       122,044 F- 39   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) The reconciliation of the net incurred and paid claims development tables for the liability for claims and claims adjustment expenses is as follows:       December 31, 2019     (In thousands) Liabilities for unpaid Property and Casualty claims     and claim adjustment expenses, net of reinsurance $ 122,044       Total reinsurance recoverable on unpaid     Property and Casualty claims $ 87,083       Total gross liability for unpaid Property and Casualty     claims and claim adjustment expense $ 209,127   The following is supplementary information about average historical claims duration as of December 31, 2019.   Average Annual Percentage Payout of Incurred Claims by Age, net of Reinsurance     (In percentages)   Years   1   2   3   4   5   6   7   Property and Casualty Insurance   54.4 % 20.5 % 10.2 % 3.6 % 5.9 % 0.1 % – %   Note 18. Leases Lessor We have determined that revenues derived by providing self-moving equipment rentals, self-storage rentals and certain other revenues, including U-Box rentals, are within the scope of the accounting guidance contained in Topic 842. Our self-moving equipment rental related revenues have been accounted for under the revenue accounting standard Topic 606, until the adoption of Topic 842. For the periods after April 1, 2019, we combined all lease and non-lease components of lease contracts for which the timing and pattern of transfer are the same and the lease component meets the classification of an operating lease, and account for them in accordance with Topic 842. The revenue streams accounted for in accordance with Topic 842 are recognized evenly over the period of rental. Please see Note 23, Revenue Recognition, of the Notes to Consolidated Financial Statements. Lessee We determine if an arrangement is a lease at inception. Operating leases, which are comprised primarily of storage rental locations, are included in ROU assets - operating and operating lease liability in our consolidated balance sheet dated March 31, 2020. Finance leases, which are comprised primarily of rental equipment leases, are included in ROU assets - financing, net, and notes, loans and finance/capital leases payable, net in our consolidated balance sheet dated March 31, 2020. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the expected remaining lease term. We use our incremental borrowing rate based on information available at commencement date including the rate for a fully collateralized loan that can either be fully amortizing or financed with a residual at the end of the lease term, for a borrower with similar credit quality in order to determine the present value of lease payments. Our lease terms may include options to extend or terminate the lease, which are included in the calculation of ROU assets when it is reasonably certain that we will exercise those options. Lease expense for lease payments is recognized on a straight-line basis over the lease term. F- 40  
v3.20.1
Leases
 12 Months Ended
Mar. 31, 2020
Leases [Abstract]  
Leases Of Lessee Disclosure [Text Block] Note 18. Leases Lessor We have determined that revenues derived by providing self-moving equipment rentals, self-storage rentals and certain other revenues, including U-Box rentals, are within the scope of the accounting guidance contained in Topic 842. Our self-moving equipment rental related revenues have been accounted for under the revenue accounting standard Topic 606, until the adoption of Topic 842. For the periods after April 1, 2019, we combined all lease and non-lease components of lease contracts for which the timing and pattern of transfer are the same and the lease component meets the classification of an operating lease, and account for them in accordance with Topic 842. The revenue streams accounted for in accordance with Topic 842 are recognized evenly over the period of rental. Please see Note 23, Revenue Recognition, of the Notes to Consolidated Financial Statements. Lessee We determine if an arrangement is a lease at inception. Operating leases, which are comprised primarily of storage rental locations, are included in ROU assets - operating and operating lease liability in our consolidated balance sheet dated March 31, 2020. Finance leases, which are comprised primarily of rental equipment leases, are included in ROU assets - financing, net, and notes, loans and finance/capital leases payable, net in our consolidated balance sheet dated March 31, 2020. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the expected remaining lease term. We use our incremental borrowing rate based on information available at commencement date including the rate for a fully collateralized loan that can either be fully amortizing or financed with a residual at the end of the lease term, for a borrower with similar credit quality in order to determine the present value of lease payments. Our lease terms may include options to extend or terminate the lease, which are included in the calculation of ROU assets when it is reasonably certain that we will exercise those options. Lease expense for lease payments is recognized on a straight-line basis over the lease term. F- 40   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) We have lease agreements with lease and non-lease components, which are generally not accounted for separately. Additionally, for certain leases, we apply a portfolio approach to account for the operating lease ROU assets and liabilities as the leases are similar in nature and have nearly identical contract provisions. Adoption of this standard resulted in most of our operating lease commitments being recognized as operating lease liabilities and ROU assets, which increased total assets and total liabilities by approximately $ 105.4 million related to property operating leases, as of April 1, 2019. In addition, we reclassified a net amount of $ 948.2 million related to vehicle financing leases from property, plant, and equipment, net to ROU assets financing, net. During fiscal 2020, we recognized new operating leases and ROU assets of $ 20.2 million. The standard also changed the manner by which we account for our equipment sale/leaseback transactions.   Based on our assessment, the lease transactions are classified as financing leases, and therefore the transactions do not qualify as a sale.   Pursuant to the guidance, new sale leaseback transactions that fail to qualify as a sale will be accounted for as a financial liability.   Please see Note 9, Borrowings, of the Notes to Consolidated Finanical Statements for additional information. The following table shows the components of our right-of-use assets, net:     As of March 31, 2020     Finance   Operating   Total     (In thousands)               Buildings and improvements $ – $ 125,547 $ 125,547 Furniture and equipment   21,113   –   21,113 Rental trailers and other rental equipment   116,072   –   116,072 Rental trucks   1,738,081   –   1,738,081 Right-of-use assets, gross   1,875,266   125,547   2,000,813 Less: Accumulated depreciation   (794,913)   (18,916)   (813,829) Right-of-use assets, net $ 1,080,353 $ 106,631 $ 1,186,984         Finance   Operating   Weighted average remaining lease term (years)   4 Years   14 Years   Weighted average discount rate   3.5 % 4.6 %   For the last twelve months ended March 31, 2020, cash paid for leases included in our operating and financing cash flow activities were $ 25.9 million and $307.8 million, respectively. The components of lease costs, including leases of less than 12 months, were as follows:     Twelve Months Ended     March 31, 2020     (In thousands)       Operating lease costs $ 27,494       Finance lease cost:     Amortization of right-of-use assets $ 186,860 Interest on lease liabilities   30,901 Total finance lease cost $ 217,761 F- 41   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) Maturities of lease liabilities were as follows:     Finance leases   Operating leases Year ending March 31,   (In thousands)           2021 $ 218,424 $ 23,782 2022   164,190   22,001 2023   124,160   21,238 2024   106,156   20,616 2025   75,502   9,701 Thereafter   46,438   64,806 Total lease payments   734,870   162,144 Less: imputed interest   –   (55,701) Present value of lease liabilities $ 734,870 $ 106,443   As previously disclosed in our 2019 Annual Report o Form 10-K and under the previous lease accounting standard, our operating and ground lease commitments for leases having terms of more than one year were as follows:     Total     (In thousands) Year-ended March 31:     2020 $ 20,852 2021   18,495 2022   16,750 2023   16,317 2024   15,736 Thereafter   54,683 Total $ 142,833   Note 19.   Contingencies COVID-19 In late 2019, COVID-19 was first detected in Wuhan, China. In March 2020, the World Health Organization declared COVID-19 a global pandemic, and governmental authorities around the world have implemented measures to reduce the spread of COVID-19. These measures have adversely affected workforces, customers, consumer sentiment, economies and financial markets. During and subsequent to the fourth quarter of fiscal 2020, the Company has been impacted by the spread of COVID-19. The extent to which COVID-19 impacts the Company’s business, operations and financial results will depend upon numerous evolving factors that the Company is not able to predict at this time, including among others: customer initiated changes in behavior, actions that have been and continue to be taken by governmental entities, our workforce may be negatively impacted disrupting our ability to serve customers, any new information that may emerge concerning the severity and duration of COVID-19 and the reaction of capital markets. For April the two most significant effects that we have experienced are an approximate 30 % (unaudited) decline in self-moving equipment rental income along with a decrease of approximately $ 39.5 million (unaudited) in proceeds from the sales of rental equipment compared to April 2019.   The decline in equipment rental revenue has been improving in May (unaudited). Although the Company cannot estimate the length or gravity of the impact of COVID-19 at this time, if the pandemic continues, it may have a material adverse effect on the Company’s results of future operations, financial position and liquidity in fiscal 2021. F- 42  
v3.20.1
Contingencies
 12 Months Ended
Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]  
Contingencies Note 19.   Contingencies COVID-19 In late 2019, COVID-19 was first detected in Wuhan, China. In March 2020, the World Health Organization declared COVID-19 a global pandemic, and governmental authorities around the world have implemented measures to reduce the spread of COVID-19. These measures have adversely affected workforces, customers, consumer sentiment, economies and financial markets. During and subsequent to the fourth quarter of fiscal 2020, the Company has been impacted by the spread of COVID-19. The extent to which COVID-19 impacts the Company’s business, operations and financial results will depend upon numerous evolving factors that the Company is not able to predict at this time, including among others: customer initiated changes in behavior, actions that have been and continue to be taken by governmental entities, our workforce may be negatively impacted disrupting our ability to serve customers, any new information that may emerge concerning the severity and duration of COVID-19 and the reaction of capital markets. For April the two most significant effects that we have experienced are an approximate 30 % (unaudited) decline in self-moving equipment rental income along with a decrease of approximately $ 39.5 million (unaudited) in proceeds from the sales of rental equipment compared to April 2019.   The decline in equipment rental revenue has been improving in May (unaudited). Although the Company cannot estimate the length or gravity of the impact of COVID-19 at this time, if the pandemic continues, it may have a material adverse effect on the Company’s results of future operations, financial position and liquidity in fiscal 2021. F- 42   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) CARES Act The CARES Act, among other things, includes provisions relating to refundable payroll tax credits, deferment of employer side social security payments, net operating loss carryback periods, alternative minimum tax credit refunds, modifications to the net interest deduction limitations, increased limitations on qualified charitable contributions, and technical corrections to tax depreciation methods for qualified improvement property. We continue to examine the impact the CARES Act may have on our business. To date we have availed ourselves of the provisions related to deferring certain payroll taxes, carrybacks of net operating losses, and will utilize the technical corrections to tax deprecation methods.   We estimate that the net operating loss carrybacks combined with the depreciation adjustments for our fiscal 2020 federal income tax return will result in a refund of approximately $ 381 million, which are reflected in Prepaid expense. As refunds are received, they will reduce this amount. We have estimated and recorded the overall effects of the CARES Act and do not anticipate a material change. It is possible future legislation could reduce or delay our ability to carryback these losses. Environmental Compliance with environmental requirements of federal, state and local governments may significantly affect Real Estate’s business operations. Among other things, these requirements regulate the discharge of materials into the air, land and water and govern the use and disposal of hazardous substances. Real Estate is aware of issues regarding hazardous substances on some of its properties. Real Estate regularly makes capital and operating expenditures to stay in compliance with environmental laws and has put in place a remedial plan at each site where it believes such a plan is necessary. Since 1988, Real Estate has managed a testing and removal program for underground storage tanks. Based upon the information currently available to Real Estate, compliance with the environmental laws and its share of the costs of investigation and cleanup of known hazardous waste sites are not expected to result in a material adverse effect on AMERCO’s financial position or results of operations. Other We are named as a defendant in various other litigation and claims arising out of the normal course of business. In management’s opinion, none of these other matters will have a material effect on our financial position and results of operations.
v3.20.1
Related Party Transactions
 12 Months Ended
Mar. 31, 2020
Related Party Transactions [Abstract]  
Related Party Transactions Note 20.   Related Party Transactions As set forth in the Company’s Audit Committee Charter and consistent with NASDAQ Listing Rules, our Audit Committee (the “Audit Committee”) reviews and maintains oversight over related party transactions which are required to be disclosed under the Securities and Exchange Commission (“SEC”) rules and regulations and in accordance with GAAP. Accordingly, all such related party transactions are submitted to the Audit Committee for ongoing review and oversight. Our internal processes are designed to ensure that our legal and finance departments identify and monitor potential related party transactions that may require disclosure and Audit Committee oversight. AMERCO has engaged in related party transactions and has continuing related party interests with certain major stockholders, directors and officers of the consolidated group as disclosed below. SAC Holding Corporation and SAC Holding II Corporation (collectively “SAC Holdings”) were established in order to acquire and develop self-storage properties. These properties are being managed by us pursuant to management agreements. In the past, we sold real estate and various self-storage properties to SAC Holdings, and such sales provided significant cash flows to us. SAC Holdings, Four SAC Self-Storage Corporation, Five SAC Self-Storage Corporation, Galaxy Investments, L.P. and 2015 SAC self-storage are substantially controlled by Blackwater Investments, Inc. (“Blackwater”). Blackwater is wholly owned by Willow Grove Holdings LP, which is owned by Mark V. Shoen (a significant stockholder), and various trusts associated with Edward J. Shoen (our Chairman of the Board, President and a significant stockholder) and Mark V. Shoen. F- 43   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) Related Party Revenues     Years Ended March 31,     2020   2019   2018     (In thousands) U-Haul interest income revenue from Blackwater $ – $ – $ 3,326 U-Haul management fee revenue from Blackwater   24,014   23,986   23,577 U-Haul management fee revenue from Mercury   6,392   5,162   6,025   $ 30,406 $ 29,148 $ 32,928   We currently manage the self-storage properties owned or leased by Blackwater and Mercury Partners, L.P. (“Mercury”), pursuant to a standard form of management agreement, under which we receive a management fee of between 4 % and 10 % of the gross receipts plus reimbursement for certain expenses. We received management fees, exclusive of reimbursed expenses, of $ 29.0 million, $ 30.0 million and $ 29.5 million from the above-mentioned entities during fiscal 2020, 2019 and 2018, respectively. This management fee is consistent with the fee received for other properties we previously managed for third parties. Mark V. Shoen controls the general partner of Mercury. The limited partner interests of Mercury are owned indirectly by James P. Shoen and various trusts benefitting Edward J. Shoen and James P. Shoen or their descendants.   Mercury holds the option to purchase a portfolio of properties currently leased by Mercury and a U-Haul subsidiary, which option is exercisable in 2024. Related Party Costs and Expenses     Years Ended March 31,     2020   2019   2018     (In thousands) U-Haul lease expenses to Blackwater $ 2,631 $ 2,678 $ 2,684 U-Haul commission expenses to Blackwater   62,066   61,434   58,595   $ 64,697 $ 64,112 $ 61,279   We lease space for marketing company offices, vehicle repair shops and hitch installation centers from subsidiaries of Blackwater. The terms of the leases are similar to the terms of leases for other properties owned by unrelated parties that are leased to us. As of March 31, 2020, subsidiaries of Blackwater acted as U-Haul independent dealers. The financial and other terms of the dealership contracts with the aforementioned companies and their subsidiaries are substantially identical to the terms of those with our other independent dealers whereby commissions are paid by us based upon equipment rental revenues. These agreements and notes with subsidiaries of Blackwater, excluding Dealer Agreements, provided revenues of $ 24.0 million, expenses of $ 2.6 million and cash flows of $ 21.5 million during fiscal 2020. Revenues and commission expenses related to the Dealer Agreements were $ 293.6 million and $ 62.1 million, respectively for fiscal 2020. In December 2019, Real Estate completed the sale of two office buildings to Oxford at cost for approximately $ 15.0 million. Oxford assumed the debt securing the property of $ 11.5 million and paid the balance in cash. There were no gains on this transaction. Management determined that we do not have a variable interest pursuant to the VIE model under ASC 810 in the holding entities of Blackwater based upon management agreements which are with the individual operating entities; therefore, we are precluded from consolidating these entities. F- 44   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) Related Party Assets     March 31,     2020   2019     (In thousands) U-Haul receivable from Blackwater $ 25,293 $ 25,158 U-Haul receivable from Mercury   9,893   7,234 Other (a)   (402)   (1,503)   $ 34,784 $ 30,889 (a) Timing differences for intercompany balances with insurance subsidiaries resulting from the three month difference in reporting periods.   Note 21.   Statutory Financial Information of Insurance Subsidiaries Applicable laws and regulations of the States of Arizona and Nevada require Property and Casualty Insurance and Life Insurance to maintain minimum capital and surplus determined in accordance with statutory accounting principles. Audited statutory net income and statutory capital and surplus for the years ended are listed below:     Years Ended December 31,     2019   2018   2017     (In thousands) Repwest:             Audited statutory net income $ 28,614 $ 23,960 $ 16,328 Audited statutory capital and surplus   226,999   216,763   197,375 ARCOA:             Audited statutory net income   2,906   1,612   1,190 Audited statutory capital and surplus   12,851   9,390   7,991 Oxford:             Audited statutory net income   18,599   11,367   10,350 Audited statutory capital and surplus   223,264   203,723   195,931 CFLIC:             Audited statutory net income   8,043   8,735   8,062 Audited statutory capital and surplus   26,305   27,232   26,653 NAI:             Audited statutory net income   1,942   1,436   1,594 Audited statutory capital and surplus   13,371   12,817   12,674   The amount of dividends that can be paid to shareholders by insurance companies domiciled in the State of Arizona is limited. There are restrictions on the ability of our insurance subsidiaries to transfer funds to us in the form of cash dividends, loans or advances. Their ordinary dividends are limited to the lower of 10% of prior year statutory surplus or prior year net income. Any extraordinary dividend, loans or advances to us from the insurance subsidiaries must be approved by the domiciliary insurance commissioner. Any dividend in excess of the limit requires prior regulatory approval. The statutory surplus for Repwest at December 31, 2019 that could be distributed as ordinary dividends was $ 22.7 million. The statutory surplus for Oxford at December 31, 2019 that could be distributed as ordinary dividends was $ 18.6 million. Repwest paid a dividend of $ 21.6 million to AMERCO during fiscal 2020. Repwest did not pay a dividend to AMERCO in fiscal 2019 or 2018. Oxford did not pay a dividend to AMERCO in fiscal 2020, 2019 or 2018, respectively. Restricted net assets for our insurance subsidiaries were $ 98.5 million and $ 130.2 million as of March 31, 2020 and 2019, respectively. F- 45  
v3.20.1
Statutory Financial Information of Insurance Subsidiaries
 12 Months Ended
Mar. 31, 2020
Disclosure Text Block [Abstract]  
Statutory Financial Information of Insurance Subsidiaries Note 21.   Statutory Financial Information of Insurance Subsidiaries Applicable laws and regulations of the States of Arizona and Nevada require Property and Casualty Insurance and Life Insurance to maintain minimum capital and surplus determined in accordance with statutory accounting principles. Audited statutory net income and statutory capital and surplus for the years ended are listed below:     Years Ended December 31,     2019   2018   2017     (In thousands) Repwest:             Audited statutory net income $ 28,614 $ 23,960 $ 16,328 Audited statutory capital and surplus   226,999   216,763   197,375 ARCOA:             Audited statutory net income   2,906   1,612   1,190 Audited statutory capital and surplus   12,851   9,390   7,991 Oxford:             Audited statutory net income   18,599   11,367   10,350 Audited statutory capital and surplus   223,264   203,723   195,931 CFLIC:             Audited statutory net income   8,043   8,735   8,062 Audited statutory capital and surplus   26,305   27,232   26,653 NAI:             Audited statutory net income   1,942   1,436   1,594 Audited statutory capital and surplus   13,371   12,817   12,674   The amount of dividends that can be paid to shareholders by insurance companies domiciled in the State of Arizona is limited. There are restrictions on the ability of our insurance subsidiaries to transfer funds to us in the form of cash dividends, loans or advances. Their ordinary dividends are limited to the lower of 10% of prior year statutory surplus or prior year net income. Any extraordinary dividend, loans or advances to us from the insurance subsidiaries must be approved by the domiciliary insurance commissioner. Any dividend in excess of the limit requires prior regulatory approval. The statutory surplus for Repwest at December 31, 2019 that could be distributed as ordinary dividends was $ 22.7 million. The statutory surplus for Oxford at December 31, 2019 that could be distributed as ordinary dividends was $ 18.6 million. Repwest paid a dividend of $ 21.6 million to AMERCO during fiscal 2020. Repwest did not pay a dividend to AMERCO in fiscal 2019 or 2018. Oxford did not pay a dividend to AMERCO in fiscal 2020, 2019 or 2018, respectively. Restricted net assets for our insurance subsidiaries were $ 98.5 million and $ 130.2 million as of March 31, 2020 and 2019, respectively. F- 45   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) For our insurance subsidiaries, statutory accounting principles (“SAP”) differ from GAAP primarily in that: (i) premiums from deferred annuities are recognized as revenue under SAP, while they are accounted for as liabilities from investment contracts under GAAP; (ii) policy acquisition costs are expensed as incurred under SAP, while they are deferred and amortized over the effective period of the related life insurance policies or the present value of actual and expected gross profits from annuity deposits; (iii) policy benefits and losses are established using different actuarial assumptions; and (iv) investments are valued on a different basis and valuation allowances attributable to investments are different. In addition, certain assets are not admitted under SAP and are charged directly to surplus.
v3.20.1
Financial Information by Geographic Area Data
 12 Months Ended
Mar. 31, 2020
Segments, Geographical Areas [Abstract]  
Industry Segment and Geographic Area Data Note 22.   Financial Information by Geographic Area     United States   Canada   Consolidated     (All amounts are in thousands U.S. $'s) Fiscal Year Ended March 31, 2020             Total revenues $ 3,797,849 $ 181,019 $ 3,978,868 Depreciation and amortization, net of gains on disposal   652,110   15,414   667,524 Interest expense   157,595   3,355   160,950 Pretax earnings   372,687   5,437   378,124 Income tax expense (benefit)   (65,842)   1,918   (63,924) Identifiable assets   13,016,942   421,082   13,438,024       United States   Canada   Consolidated     (All amounts are in thousands U.S. $'s) Fiscal Year Ended March 31, 2019             Total revenues $ 3,597,285 $ 171,422 $ 3,768,707 Depreciation and amortization, net of gains on disposal   575,134   7,421   582,555 Interest expense   139,573   2,872   142,445 Pretax earnings   466,175   11,354   477,529 Income tax expense   103,578   3,094   106,672 Identifiable assets   11,526,876   364,837   11,891,713       United States   Canada   Consolidated     (All amounts are in thousands U.S. $'s) Fiscal Year Ended March 31, 2018             Total revenues $ 3,435,821 $ 165,293 $ 3,601,114 Depreciation and amortization, net of gains on disposal   363,826   8,521   372,347 Interest expense   123,777   2,929   126,706 Pretax earnings   628,901   8,712   637,613 Income tax expense (benefit)   (155,685)   2,715   (152,970) Identifiable assets   10,425,299   322,123   10,747,422  
v3.20.1
Consolidating Financial Information by Industry Segment
 12 Months Ended
Mar. 31, 2020
Segment Reporting [Abstract]  
Consolidating Financial Information by Industry Segment Note 22A.   Consolidating Financial Information by Industry Segment AMERCO’s three reportable segments are: Moving and Storage, comprised of AMERCO, U-Haul, and Real Estate and the subsidiaries of    U-Haul and Real Estate; Property and Casualty Insurance, comprised of Repwest and its subsidiaries and ARCOA; and Life Insurance, comprised of Oxford and its subsidiaries. Management tracks revenues separately, but does not report any separate measure of the profitability for rental vehicles, rentals of self-storage spaces and sales of products that are required to be classified as a separate operating segment and accordingly does not present these as separate reportable segments. Deferred income taxes, net are shown as liabilities on the consolidating statements. The information includes elimination entries necessary to consolidate AMERCO, the parent, with its subsidiaries. Investments in subsidiaries are accounted for by the parent using the equity method of accounting. F- 47   amerco and consolidated subsidiaries notes to condensed consolidated financial statements – (continued)   Note 22A. Financial Information by Consolidating Industry Segment: Consolidating balance sheets by industry segment as of March   31, 2020 are as follows:     Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Eliminations     AMERCO Consolidated     (In thousands) Assets:                       Cash and cash equivalents $ 459,078 $ 4,794 $ 30,480 $ –   $ 494,352 Reinsurance recoverables and trade receivables, net   60,073   93,995   32,604   –     186,672 Inventories and parts, net   101,083   –   –   –     101,083 Prepaid expenses   562,904   –   –   –     562,904 Investments, fixed maturities and marketable equities   –   288,998   2,203,740   –     2,492,738 Investments, other   20,988   90,145   249,240   –     360,373 Deferred policy acquisition costs, net   –   –   103,118   –     103,118 Other assets   69,128   680   2,148   –     71,956 Right of use assets - financing, net   1,080,353   –   –   –     1,080,353 Right of use assets - operating   106,631   –   –   –     106,631 Related party assets   41,027   7,137   18,629   (32,009) (c)   34,784     2,501,265   485,749   2,639,959   (32,009)     5,594,964                         Investment in subsidiaries   668,498   –   –   (668,498) (b)   –                         Property, plant and equipment, at cost:                       Land   1,032,945   –   –   –     1,032,945 Buildings and improvements   4,663,461   –   –   –     4,663,461 Furniture and equipment   752,363   –   –   –     752,363 Rental trailers and other rental equipment   511,520   –   –   –     511,520 Rental trucks   3,595,933   –   –   –     3,595,933     10,556,222   –   –   –     10,556,222 Less:   Accumulated depreciation   (2,713,162)   –   –   –     (2,713,162) Total property, plant and equipment   7,843,060   –   –   –     7,843,060 Total assets $ 11,012,823 $ 485,749 $ 2,639,959 $ (700,507)   $ 13,438,024                         (a)   Balances as of December 31, 2019                       (b) Eliminate investment in subsidiaries                       (c) Eliminate intercompany receivables and payables                       F- 48   amerco and consolidated subsidiaries notes to condensed consolidated financial statements – (continued) Consolidating balance sheets by industry segment as of March   31, 2020 are as follows:     Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Eliminations     AMERCO Consolidated     (In thousands) Liabilities:                       Accounts payable and accrued expenses $ 545,685 $ 5,530 $ 3,138 $ –   $ 554,353 Notes, loans and finance/capital leases payable, net   4,609,844   –   11,447   –     4,621,291 Operating lease liability   106,443   –   –   –     106,443 Policy benefits and losses, claims and loss expenses payable   410,107   210,341   377,199   –     997,647 Liabilities from investment contracts   –   –   1,802,217   –     1,802,217 Other policyholders' funds and liabilities   –   5,751   4,439   –     10,190 Deferred income   31,620   –   –   –     31,620 Deferred income taxes, net   1,063,681   8,447   21,415   –     1,093,543 Related party liabilities   24,275   4,616   2,670   (31,561) (c)   – Total liabilities   6,791,655   234,685   2,222,525   (31,561)     9,217,304                         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   454,029   91,120   26,271   (117,601) (b)   453,819 Accumulated other comprehensive income (loss)   35,100   12,581   78,550   (91,579) (b)   34,652 Retained earnings   4,399,192   144,062   310,113   (453,965) (b)   4,399,402 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   –   –   –   –     – Total stockholders' equity   4,221,168   251,064   417,434   (668,946)     4,220,720 Total liabilities and stockholders' equity $ 11,012,823 $ 485,749 $ 2,639,959 $ (700,507)   $ 13,438,024                         (a)   Balances as of December 31, 2019                       (b) Eliminate investment in subsidiaries                       (c) Eliminate intercompany receivables and payables                       F- 49   amerco and consolidated subsidiaries notes to condensed consolidated financial statements – (continued) Consolidating balance sheets by industry segment as of March 31, 2019 are as follows:     Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Eliminations     AMERCO Consolidated     (In thousands) Assets:                       Cash and cash equivalents $ 643,918 $ 5,757 $ 24,026 $ –   $ 673,701 Reinsurance recoverables and trade receivables, net   90,832   102,120   31,833   –     224,785 Inventories and parts, net   103,504   –   –   –     103,504 Prepaid expenses   174,100   –   –   –     174,100 Investments, fixed maturities and marketable equities   –   279,641   1,955,756   –     2,235,397 Investments, other   23,013   74,679   203,044   –     300,736 Deferred policy acquisition costs, net   –   –   136,276   –     136,276 Other assets   72,768   2,456   3,130   –     78,354 Related party assets   35,997   6,639   16,466   (28,213) (c)   30,889     1,144,132   471,292   2,370,531   (28,213)     3,957,742                         Investment in subsidiaries   534,157   –   –   (534,157) (b)   –                         Property, plant and equipment, at cost:                       Land   976,454   –   –   –     976,454 Buildings and improvements   4,003,726   –   –   –     4,003,726 Furniture and equipment   689,780   –   –   –     689,780 Rental trailers and other rental equipment   590,039   –   –   –     590,039 Rental trucks   4,762,028   –   –   –     4,762,028     11,022,027   –   –   –     11,022,027 Less:   Accumulated depreciation   (3,088,056)   –   –   –     (3,088,056) Total property, plant and equipment   7,933,971   –   –   –     7,933,971 Total assets $ 9,612,260 $ 471,292 $ 2,370,531 $ (562,370)   $ 11,891,713                         (a)   Balances as of December 31, 2018                       (b) Eliminate investment in subsidiaries                       (c) Eliminate intercompany receivables and payables                       F- 50   amerco and consolidated subsidiaries notes to condensed consolidated financial statements – (continued) Consolidating balance sheets by industry segment as of March 31, 2019 are as follows:     Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Eliminations     AMERCO Consolidated     (In thousands) Liabilities:                       Accounts payable and accrued expenses $ 548,099 $ 2,844 $ 5,930 $ –   $ 556,873 Notes, loans and leases payable, net   4,163,323   –   –   –     4,163,323 Policy benefits and losses, claims and loss expenses payable   407,934   229,958   373,291   –     1,011,183 Liabilities from investment contracts   –   –   1,666,742   –     1,666,742 Other policyholders' funds and liabilities   –   5,259   9,788   –     15,047 Deferred income   35,186   –   –   –     35,186 Deferred income taxes, net   741,644   6,961   2,365   –     750,970 Related party liabilities   25,446   3,836   692   (29,974) (c)   – Total liabilities   5,921,632   248,858   2,058,808   (29,974)     8,199,324                         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   453,536   91,120   26,271   (117,601) (b)   453,326 Accumulated other comprehensive income (loss)   (68,459)   (3,721)   (5,300)   10,782 (b)   (66,698) Retained earnings   3,976,752   131,734   288,252   (419,776) (b)   3,976,962 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   (4,048)   –   –   –     (4,048) Total stockholders' equity $ 3,690,628   222,434   311,723   (532,396)     3,692,389 Total liabilities and stockholders' equity   9,612,260 $ 471,292 $ 2,370,531 $ (562,370)   $ 11,891,713                         (a)   Balances as of December 31, 2018                       (b) Eliminate investment in subsidiaries                       (c) Eliminate intercompany receivables and payables                       F- 51   amerco and consolidated subsidiaries notes to condensed consolidated financial statements – (continued) Consolidating statements of operations by industry segment for period ending March 31, 2020 are as follows:     Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Eliminations     AMERCO Consolidated     (In thousands) Revenues:                       Self-moving equipment rentals $ 2,696,516 $ – $ – $ (4,103) (c) $ 2,692,413 Self-storage revenues   418,741   –   –   –     418,741 Self-moving & self-storage products & service sales   265,091   –   –   –     265,091 Property management fees   30,406   –   –   –     30,406 Life insurance premiums   –   –   127,976   –     127,976 Property and casualty insurance premiums   –   69,141   –   (3,088) (c)   66,053 Net investment and interest income   10,593   19,923   109,018   (1,705) (b)   137,829 Other revenue   236,419   –   4,470   (530) (b)   240,359 Total revenues   3,657,766   89,064   241,464   (9,426)     3,978,868                         Costs and expenses:                       Operating expenses   2,069,655   33,770   21,425   (7,702) (b,c)   2,117,148 Commission expenses   288,332   –   –   –     288,332 Cost of sales   164,018   –   –   –     164,018 Benefits and losses   –   12,410   162,426   –     174,836 Amortization of deferred policy acquisition costs   –   –   31,219   –     31,219 Lease expense   27,494   –   –   (612) (b)   26,882 Depreciation, net gains on disposals   637,063   –   –   –     637,063 Net gains on disposal of real estate   (758)   –   –   –     (758) Total costs and expenses   3,185,804   46,180   215,070   (8,314)     3,438,740                         Earnings from operations before equity in earnings of subsidiaries   471,962   42,884   26,394   (1,112)     540,128                         Equity in earnings of subsidiaries   55,789   –   –   (55,789) (d)   –                         Earnings from operations   527,751   42,884   26,394   (56,901)     540,128 Other components of net periodic benefit costs   (1,054)   –   –   –     (1,054) Interest expense   (162,062)   –   –   1,112 (b)   (160,950) Pretax earnings   364,635   42,884   26,394   (55,789)     378,124 Income tax benefit (expense)   77,413   (8,956)   (4,533)   –     63,924 Earnings available to common shareholders $ 442,048 $ 33,928 $ 21,861 $ (55,789)   $ 442,048                         (a)   Balances for the year ended December 31, 2019                       (b) Eliminate intercompany lease / interest income                       (c) Eliminate intercompany premiums                       (d) Eliminate equity in earnings of subsidiaries                       F- 52   amerco and consolidated subsidiaries notes to condensed consolidated financial statements – (continued) Consolidating statements of operations by industry segment for period ending March 31, 2019 are as follows:     Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Eliminations     AMERCO Consolidated     (In thousands) Revenues:                       Self-moving equipment rentals $ 2,656,327 $ – $ – $ (2,830) (c) $ 2,653,497 Self-storage revenues   367,276   –   –   –     367,276 Self-moving & self-storage products & service sales   264,146   –   –   –     264,146 Property management fees   29,148   –   –   –     29,148 Life insurance premiums   –   –   63,488   –     63,488 Property and casualty insurance premiums   –   63,488   –   (2,635) (c)   60,853 Net investment and interest income   13,857   12,349   86,395   (1,667) (b)   110,934 Other revenue   215,055   –   4,831   (521) (b)   219,365 Total revenues   3,545,809   75,837   154,714   (7,653)     3,768,707                         Costs and expenses:                       Operating expenses   1,938,317   34,218   14,613   (5,968) (b,c)   1,981,180 Commission expenses   288,408   –   –   –     288,408 Cost of sales   162,142   –   –   –     162,142 Benefits and losses   –   14,213   86,064   –     100,277 Amortization of deferred policy acquisition costs   –   –   28,556   –     28,556 Lease expense   33,702   –   –   (544) (b)   33,158 Depreciation, net gains on disposals   554,043   –   –   –     554,043 Net gains on disposal of real estate   (44)   –   –   –     (44) Total costs and expenses   2,976,568   48,431   129,233   (6,512)     3,147,720                         Earnings from operations before equity in earnings of subsidiaries   569,241   27,406   25,481   (1,141)     620,987                         Equity in earnings of subsidiaries   41,811   –   –   (41,811) (d)   –                         Earnings from operations   611,052   27,406   25,481   (42,952)     620,987 Other components of net periodic benefit costs   (1,013)   –   –   –     (1,013) Interest expense   (143,586)   –   –   1,141 (b)   (142,445) Pretax earnings   466,453   27,406   25,481   (41,811)     477,529 Income tax expense   (95,596)   (5,698)   (5,378)   –     (106,672) Earnings available to common shareholders $ 370,857 $ 21,708 $ 20,103 $ (41,811)   $ 370,857                         (a)   Balances for the year ended December 31, 2018                       (b) Eliminate intercompany lease/interest income                       (c) Eliminate intercompany premiums                       (d) Eliminate equity in earnings of subsidiaries                       F- 53   amerco and consolidated subsidiaries notes to condensed consolidated financial statements – (continued) Consolidating statements of operations by industry segment for period ending March 31, 2018 are as follows:     Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Eliminations     AMERCO Consolidated     (In thousands) Revenues:                       Self-moving equipment rentals $ 2,483,956 $ – $ – $ (4,214) (c) $ 2,479,742 Self-storage revenues   323,903   –   –   –     323,903 Self-moving & self-storage products & service sales   261,557   –   –   –     261,557 Property management fees   29,602   –   –   –     29,602 Life insurance premiums   –   –   154,703   –     154,703 Property and casualty insurance premiums   –   58,800   –   (1,700) (c)   57,100 Net investment and interest income   12,232   15,771   84,158   (1,688) (b)   110,473 Other revenue   179,417   –   5,001   (384) (b)   184,034 Total revenues   3,290,667   74,571   243,862   (7,986)     3,601,114                         Costs and expenses:                       Operating expenses   1,758,697   32,710   22,061   (6,412) (b,c)   1,807,056 Commission expenses   276,705   –   –   –     276,705 Cost of sales   160,489   –   –   –     160,489 Benefits and losses   –   15,983   169,328   –     185,311 Amortization of deferred policy acquisition costs   –   –   24,514   –     24,514 Lease expense   34,243   –   –   (283) (b)   33,960 Depreciation, net gains on disposals   543,247   –   –   –     543,247 Net (gains) losses on disposal of real estate   (195,414)   –   –   –     (195,414) Total costs and expenses   2,577,967   48,693   215,903   (6,695)     2,835,868                         Earnings from operations before equity in earnings of subsidiaries   712,700   25,878   27,959   (1,291)     765,246                         Equity in earnings of subsidiaries   46,990   –   –   (46,990) (d)   –                         Earnings from operations   759,690   25,878   27,959   (48,281)     765,246 Other components of net periodic benefit costs   (927)   –   –   –     (927) Interest expense   (127,997)   –   –   1,291 (b)   (126,706) Pretax earnings   630,766   25,878   27,959   (46,990)     637,613 Income tax benefit (expense)   159,817   (2,989)   (3,858)   –     152,970 Earnings available to common shareholders $ 790,583 $ 22,889 $ 24,101 $ (46,990)   $ 790,583                         (a)   Balances for the year ended December 31, 2017                       (b) Eliminate intercompany lease/interest income                       (c) Eliminate intercompany premiums                       (d) Eliminate equity in earnings of subsidiaries                       F- 54   amerco and consolidated subsidiaries notes to condensed consolidated financial statements – (continued) Consolidating cash flow statements by industry segment for the year ended March 31, 2020, are as follows:     Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Elimination     AMERCO Consolidated     (In thousands) Cash flows from operating activities:                       Net earnings $ 442,048 $ 33,928 $ 21,861 $ (55,789)   $ 442,048 Earnings from consolidated subsidiaries   (55,789)   –   –   55,789     – Adjustments to reconcile net earnings to cash provided by operations:                       Depreciation   664,120   –   –   –     664,120 Amortization of deferred policy acquisition costs   –   –   31,219   –     31,219 Amortization of premiums and accretion of discounts related to investments, net   –   1,469   11,848   –     13,317 Amortization of debt issuance costs   4,426   –   –   –     4,426 Interest credited to policyholders   –   –   51,857   –     51,857 Change in allowance for losses on trade receivables   (14)   –   –   –     (14) Change in allowance for inventories and parts reserve   640   –   –   –     640 Net gains on disposal of personal property   (27,057)   –   –   –     (27,057) Net gains on disposal of real estate   (758)   –   –   –     (758) Net gains on sales of investments   –   (355)   (13,241)   –     (13,596) Net gains on equity securities   –   (3,783)   –   –     (3,783) Deferred income taxes   323,980   (2,847)   (3,240)   –     317,893 Net change in other operating assets and liabilities:                       Reinsurance recoverables and trade receivables   30,771   8,127   (769)   –     38,129 Inventories and parts   1,776   –   –   –     1,776 Prepaid expenses   (391,120)   –   –   –     (391,120) Capitalization of deferred policy acquisition costs   –   –   (24,447)   –     (24,447) Other assets   (3,099)   2,098   (294)   –     (1,295) Related party assets   (5,106)   (539)   –   –     (5,645) Accounts payable and accrued expenses   (4,428)   2,688   (2,790)   –     (4,530) Policy benefits and losses, claims and loss expenses payable   3,092   (19,618)   3,908   –     (12,618) Other policyholders' funds and liabilities   –   491   (5,348)   –     (4,857) Deferred income   (1,818)   –   –   –     (1,818) Related party liabilities   (1,170)   819   1,977   –     1,626 Net cash provided by operating activities   980,494   22,478   72,541   –     1,075,513                         Cash flows from investing activities:                       Escrow deposits   6,617   –   –   –     6,617 Purchases of:                       Property, plant and equipment   (2,309,406)   –   –   –     (2,309,406) Short term investments   –   (60,590)   (636)   –     (61,226) Fixed maturities investments   –   (13,001)   (366,348)   –     (379,349) Equity securities   –   –   (83)   –     (83) Preferred stock   –   –   –   –     – Real estate   –   (328)   (3,958)   –     (4,286) Mortgage loans   –   (18,050)   (43,966)   –     (62,016) Proceeds from sales and paydowns of:                       Property, plant and equipment   687,375   –   –   –     687,375 Short term investments   –   59,056   –   –     59,056 Fixed maturities investments   –   25,386   243,250   –     268,636 Equity securities   –   185   –   –     185 Preferred stock   –   1,375   1,000   –     2,375 Real estate   311   –   –   –     311 Mortgage loans   –   4,126   21,036   –     25,162 Net cash used by investing activities   (1,615,103)   (1,841)   (149,705)   –     (1,766,649)     (page 1 of 2) (a) Balance for the period ended December 31, 2019                       F- 55   amerco and consolidated subsidiaries notes to condensed consolidated financial statements – (continued) Continuation of consolidating cash flow statements by industry segment for the year ended March 31, 2020, are as follows:     Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Elimination     AMERCO Consolidated     (In thousands) Cash flows from financing activities:                       Borrowings from credit facilities   1,118,912   –   2,500   –     1,121,412 Principal repayments on credit facilities   (347,486)   –   (2,500)   –     (349,986) Payment of debt issuance costs   (5,332)   –   –   –     (5,332) Capital lease payments   (307,782)   –   –   –     (307,782) Employee stock ownership plan shares   (206)   –   –   –     (206) Securitization deposits   –   –   –   –     – Common stock dividends paid   (29,404)   –   –   –     (29,404) Net contribution from (to) related party   21,600   (21,600)   –   –     – Investment contract deposits   –   –   234,640   –     234,640 Investment contract withdrawals   –   –   (151,022)   –     (151,022) Net cash provided (used) by financing activities   450,302   (21,600)   83,618   –     512,320                         Effects of exchange rate on cash   (533)   –   –   –     (533)                         Decrease in cash and cash equivalents   (184,840)   (963)   6,454   –     (179,349) Cash and cash equivalents at beginning of period   643,918   5,757   24,026   –     673,701 Cash and cash equivalents at end of period $ 459,078 $ 4,794 $ 30,480 $ –   $ 494,352     (page 2 of 2) (a) Balance for the period ended December 31, 2019                       F- 56   amerco and consolidated subsidiaries notes to condensed consolidated financial statements – (continued) Consolidating cash flow statements by industry segment for the year ended March 31, 2019, are as follows:     Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Elimination     AMERCO Consolidated     (In thousands) Cash flows from operating activities:                       Net earnings $ 370,857 $ 21,708 $ 20,103 $ (41,811)   $ 370,857 Earnings from consolidated subsidiaries   (41,811)   –   –   41,811     – Adjustments to reconcile net earnings to cash provided by operations:                       Depreciation   581,025   –   –   –     581,025 Amortization of deferred policy acquisition costs   –   –   28,556   –     28,556 Amortization of premiums and accretion of discounts related to investments, net   –   1,361   11,746   –     13,107 Amortization of debt issuance costs   3,923   –   –   –     3,923 Interest credited to policyholders   –   –   35,387   –     35,387 Change in allowance for losses on trade receivables   57   –   (5)   –     52 Change in allowance for inventories and parts reserve   (146)   –   –   –     (146) Net gains on disposal of personal property   (26,982)   –   –   –     (26,982) Net gains on disposal of real estate   (44)   –   –   –     (44) Net (gains) losses on sales of investments   –   (2,971)   308   –     (2,663) Net losses on equity securities   –   5,739   –   –     5,739 Deferred income taxes   112,434   830   (6,453)   –     106,811 Net change in other operating assets and liabilities:                       Reinsurance recoverables and trade receivables   (26,160)   (2,438)   (2,767)   –     (31,365) Inventories and parts   (13,492)   –   –   –     (13,492) Prepaid expenses   (8,620)   –   –   –     (8,620) Capitalization of deferred policy acquisition costs   –   –   (25,957)   –     (25,957) Other assets   159,126   (1,449)   (525)   –     157,152 Related party assets   3,857   339   (2)   –     4,194 Accounts payable and accrued expenses   6,454   257   3,552   –     10,263 Policy benefits and losses, claims and loss expenses payable   (159,793)   (4,400)   (71,927)   –     (236,120) Other policyholders' funds and liabilities   –   (117)   5,124   –     5,007 Deferred income   966   –   –   –     966 Related party liabilities   (2,711)   944   (300)   –     (2,067) Net cash provided (used) by operating activities   958,940   19,803   (3,160)   –     975,583                         Cash flows from investing activities:                       Escrow deposits   4,299   –   –   –     4,299 Purchases of:                       Property, plant and equipment   (1,869,968)   –   –   –     (1,869,968) Short term investments   –   (53,878)   (170)   –     (54,048) Fixed maturities investments   –   (33,775)   (506,270)   –     (540,045) Equity securities   –   –   (957)   –     (957) Preferred stock   –   –   –   –     – Real estate   (236)   (187)   (212)   –     (635) Mortgage loans   –   (20,031)   (43,580)   –     (63,611) Proceeds from sales and paydowns of:                       Property, plant and equipment   606,271   –   –   –     606,271 Short term investments   –   58,767   7,270   –     66,037 Fixed maturities investments   –   12,305   111,246   –     123,551 Equity securities   –   8,608   –   –     8,608 Preferred stock   –   1,625   –   –     1,625 Real estate   –   –   –   –     – Mortgage loans   –   5,881   141,856   –     147,737 Net cash used by investing activities   (1,259,634)   (20,685)   (290,817)   –     (1,571,136)     (page 1 of 2) (a) Balance for the period ended December 31, 2018                       F- 57   amerco and consolidated subsidiaries notes to condensed consolidated financial statements – (continued) Continuation of consolidating cash flow statements by industry segment for the year ended March 31, 2019, are as follows:     Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Elimination     AMERCO Consolidated     (In thousands) Cash flows from financing activities:                       Borrowings from credit facilities   897,311   –   –   –     897,311 Principal repayments on credit facilities   (299,748)   –   –   –     (299,748) Payment of debt issuance costs   (7,243)   –   –   –     (7,243) Capital lease payments   (303,431)   –   –   –     (303,431) Employee stock ownership plan shares   (418)   –   –   –     (418) Common stock dividends paid   (39,179)   –   –   –     (39,179) Investment contract deposits   –   –   400,123   –     400,123 Investment contract withdrawals   –   –   (132,833)   –     (132,833) Net cash provided by financing activities   247,292   –   267,290   –     514,582                         Effects of exchange rate on cash   (4,716)   –   –   –     (4,716)                         Increase (decrease) in cash and cash equivalents   (58,118)   (882)   (26,687)   –     (85,687) Cash and cash equivalents at beginning of period   702,036   6,639   50,713   –     759,388 Cash and cash equivalents at end of period $ 643,918 $ 5,757 $ 24,026 $ –   $ 673,701     (page 2 of 2) (a) Balance for the period ended December 31, 2018                       F- 58   amerco and consolidated subsidiaries notes to condensed consolidated financial statements – (continued) Consolidating cash flow statements by industry segment for the year ended March 31, 2018 are as follows:       Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Elimination     AMERCO Consolidated     (In thousands) Cash flows from operating activities:                       Net earnings $ 790,583 $ 22,889 $ 24,101 $ (46,990)   $ 790,583 Earnings from consolidated subsidiaries   (46,990)   –   –   46,990     – Adjustments to reconcile net earnings to cash provided by operations:                       Depreciation   555,069   –   –   –     555,069 Amortization of deferred policy acquisition costs   –   –   24,514   –     24,514 Amortization of premiums and accretion of discounts related to investments, net   –   1,356   11,434   –     12,790 Amortization of debt issuance costs   3,868   –   –   –     3,868 Interest credited to policyholders   –   –   32,302   –     32,302 Change in allowance for losses on trade receivables   (31)   –   (89)   –     (120) Change in allowance for inventories and parts reserve   5,065   –   –   –     5,065 Net gains on disposal of personal property   (11,822)   –   –   –     (11,822) Net gains on disposal of real estate   (195,414)   –   –   –     (195,414) Net gains on sales of investments   –   (1,703)   (4,566)   –     (6,269) Deferred income taxes   (182,358)   (6,596)   (4,480)   –     (193,434) Net change in other operating assets and liabilities:                       Reinsurance recoverables and trade receivables   (23,444)   8,075   40   –     (15,329) Inventories and parts   (12,384)   –   –   –     (12,384) Prepaid expenses   (40,765)   –   –   –     (40,765) Capitalization of deferred policy acquisition costs   –   –   (27,350)   –     (27,350) Other assets   (167,579)   1,810   (199)   –     (165,968) Related party assets   48,855   4,553   –   –     53,408 Accounts payable and accrued expenses   (36,384)   648   (1,244)   –     (36,980) Policy benefits and losses, claims and loss expenses payable   168,687   (10,623)   3,057   –     161,121 Other policyholders' funds and liabilities   –   1,194   (1,303)   –     (109) Deferred income   5,524   –   –   –     5,524 Related party liabilities   (1,884)   318   950   –     (616) Net cash provided by operating activities   858,596   21,921   57,167   –     937,684                         Cash flows from investing activities:                       Escrow deposits   31,362   –   –   –     31,362 Purchases of:                       Property, plant and equipment   (1,363,745)   –   –   –     (1,363,745) Short term investments   –   (63,556)   –   –     (63,556) Fixed maturities investments   –   (51,273)   (339,627)   –     (390,900) Equity securities   –   –   (662)   –     (662) Preferred stock   –   (1,000)   –   –     (1,000) Real estate   (1,365)   (440)   (134)   –     (1,939) Mortgage loans   –   (14,409)   (69,098)   –     (83,507) Proceeds from sales and paydowns of:                       Property, plant and equipment   699,803   –   –   –     699,803 Short term investments   –   61,133   6,657   –     67,790 Fixed maturities investments   –   21,670   141,799   –     163,469 Preferred stock   –   4,208   –   –     4,208 Real estate   2,783   –   –   –     2,783 Mortgage loans   –   15,660   21,930   –     37,590 Net cash used by investing activities   (631,162)   (28,007)   (239,135)   –     (898,304)     (page 1 of 2) (a) Balance for the period ended December 31, 2017                       F- 59   amerco and consolidated subsidiaries notes to condensed consolidated financial statements – (continued) Continuation of consolidating cash flow statements by industry segment for the year ended March 31, 2018 are as follows:     Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Elimination     AMERCO Consolidated     (In thousands) Cash flows from financing activities:                       Borrowings from credit facilities   498,464   –   –   –     498,464 Principal repayments on credit facilities   (356,451)   –   –   –     (356,451) Payment of debt issuance costs   (5,111)   –   –   –     (5,111) Capital lease payments   (296,363)   –   –   –     (296,363) Employee stock ownership plan shares   (11,640)   –   –   –     (11,640) Securitization deposits   (2,180)   –   –   –     (2,180) Common stock dividends paid   (29,380)   –   –   –     (29,380) Investment contract deposits   –   –   401,814   –     401,814 Investment contract withdrawals   –   –   (182,549)   –     (182,549) Net cash provided (used) by financing activities   (202,661)   –   219,265   –     16,604                         Effects of exchange rate on cash   5,598   –   –   –     5,598                         Increase (decrease) in cash and cash equivalents   30,371   (6,086)   37,297   –     61,582 Cash and cash equivalents at beginning of period   671,665   12,725   13,416   –     697,806 Cash and cash equivalents at end of period $ 702,036 $ 6,639 $ 50,713 $ –   $ 759,388     (page 2 of 2) (a) Balance for the period ended December 31, 2017                       F- 60  
v3.20.1
Revenue Recognition
 12 Months Ended
Mar. 31, 2020
Revenue From Contract With Customer [Abstract]  
Revenue Recognition Note 23.   Revenue Recognition Revenue Recognized in Accordance with Topic 606 On April 1, 2018, we adopted ASC Topic 606, Revenue from Contracts with Customers (Topic 606) , on a modified retrospective basis. The standard outlines a five-step model for entities to use in accounting for revenue arising from contracts with customers. The standard applies to all contracts with customers except for leases, insurance contracts, financial instruments, certain nonmonetary exchanges and certain guarantees. The standard also requires expanded disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. Due to insignificant changes in our revenue recognition pattern for applicable revenue streams as a result of the updated guidance, there was no cumulative effect recorded.   Additionally, we elected to use the practical expedient for contracts that begin and end within the same reporting period in applying the updated guidance to our applicable revenue streams. The adoption of the standard did not have a material effect on our Consolidated Balance Sheets, Consolidated Statements of Operations, or Consolidated Statements of Cash Flows. We enter into contracts that may include various combinations of products and services, which are generally capable of being distinct and accounted for as separate performance obligations. Revenue is recognized net of amounts collected from customers for taxes, such as sales tax, and remitted to the applicable taxing authorities. We account for a contract under Topic 606 when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. For contracts scoped into this standard, revenue is recognized when (or as) the performance obligations are satisfied by means of transferring goods or services to the customer as applicable to each revenue stream as discussed below.   There were no material contract assets or liabilities as of March 31, 2020 and March 31, 2019. Sales of self-moving and self-storage related products are recognized at the time that title passes and the customer accepts delivery. The performance obligations identified for this portfolio of contracts include moving and storage product sales, installation services and/or propane sales. Each of these performance obligations has an observable stand-alone selling price. We concluded that the performance obligations identified are satisfied at a point in time under Topic 606, which is consistent with the timing of our revenue recognition under legacy guidance. The basis for this conclusion is that the customer does not receive the product/propane or benefit from the installation services until the related performance obligation is satisfied. These products/services being provided have an alternative use as they are not customized and can be sold/provided to any customer. In addition, we only have the right to receive payment once the products have been transferred to the customer or the installation services have been completed. Although product sales have a right of return policy, our estimated obligation for future product returns is not material to the financial statements at this time. Property management fees are recognized over the period that agreed-upon services are provided. The performance obligation for this portfolio of contracts is property management services, which represents a series of distinct days of service, each of which is comprised of activities that may vary from day to day. However, those tasks are activities to fulfill the property management services and are not separate promises in the contract. We determined that each increment of the promised service is distinct in accordance with paragraph 606-10-25-19. This is because the customer can benefit from each increment of service on its own and each increment of service is separately identifiable because no day of service significantly modifies or customizes another and no day of service significantly affects either the entity’s ability to fulfill another day of service or the benefit to the customer of another day of service. As such, we concluded that the performance obligation is satisfied over time under Topic 606, which is consistent with the timing of our revenue recognition under legacy guidance for the Management Fee component of the compensation received in exchange for the service. Additionally, in certain contracts the Company has the ability to earn an incentive fee based on operational results. Historically, these fees have been recognized once fully determinable. Under Topic 606, we measure and recognize the progress toward completion of the performance obligation on a quarterly basis using the most likely amount method to determine an accrual for the incentive fee portion of the compensation received in exchange for the property management service. The variable consideration recognized is subject to constraints due to a range of possible consideration amounts based on actual operational results. The amount accrued in the fourth quarter of fiscal 2020 did not have a material effect on our financial statements. Other revenue consists of numerous services or rentals, of which U-Box contracts and service fees from Moving Help are the main components. The performance obligations identified for U-Box contracts F- 61       are fees for rental, storage and shipping of U-Box containers to a specified location, each of which are distinct. A contract may be partially within the scope of Topic 606 and partially within the scope of other topics. The rental and storage obligations in U-Box contracts meet the definition of a lease in Topic 842, while the shipping obligation represents a contract with a customer accounted for under Topic 606. Therefore, we allocate the total transaction price between the performance obligations of storage fees and rental fees and the shipping fees on a standalone selling price basis. U-Box shipping fees are collected once the shipment is in transit. Shipping fees in U-Box contracts are set at the initiation of the contract based on the shipping origin and destination, and the performance obligation is satisfied over time under Topic 606, which is consistent with the timing of our revenue recognition under legacy guidance. U-Box shipping contracts span over a relatively short period of time, and the majority of these contracts begin and end within the same fiscal year. Moving Help services fees are recognized in accordance with Topic 606. Moving Help services are generated as we provide a neutral venue for the connection between the service provider and the customer for agreed upon services. We do not control the specified services provided by the service provider before that service is transferred to the customer. Revenue Recognized in Accordance withTopic 842/840 The Company’s self-moving rental revenues meet the definition of a lease pursuant to the guidance in ASU 2016-02, Leases (Topic 842) because those substitution rights do not provide an economic benefit to the Company that would exceed the cost of exercising the right.   Therefore, upon adoption of Topic 842 on April 1, 2019, self-rental contracts are being accounted for as leases. We combined all lease and non-lease components of lease contracts for which the timing and pattern of transfer are the same and the lease component meets the classification of an operating lease, and account for them in accordance with Topic 842. The revenue streams accounted for in accordance with Topic 842 are recognized evenly over the period of rental. We do not expect this change to result in a change in the timing and pattern of recognition of the related revenues due to the short-term nature of the self-moving rental contracts. Please see Note 18, Leases, of the Notes to Condensed Consolidated Financial Statements. Self-storage revenues are recognized as earned over the contract period based upon the number of paid storage contract days. We lease portions of our operating properties to tenants under agreements that are classified as operating leases. We recognize the total minimum lease payments provided for under the leases on a straight-line basis over the lease term. Generally, under the terms of our leases, the majority of our rental expenses, including common area maintenance, real estate taxes and insurance, are recovered from our customers. The following table summarizes the minimum lease payments due from our customers and operating property tenants on leases for the next five years and thereafter:     Year Ended March 31,     2021   2022   2023   2024   2025   Thereafter           (In thousands)                           Self-moving equipment rentals $ 2,139 $ – $ – $ – $ – $ – Property lease revenues   20,715   16,927   13,250   9,834   7,102   58,379 Total $ 22,854 $ 16,927 $ 13,250 $ 9,834 $ 7,102 $ 58,379   Revenue Recognized in Accordance with Other Topics Traditional life and Medicare supplement insurance premiums are recognized as revenue over the premium-paying periods of the contracts when due from the policyholders. For products where premiums are due over a significantly shorter duration than the period over which benefits are provided, such as our single premium whole life product, premiums are recognized when received and excess profits are deferred and recognized in relation to the insurance in force. Life insurance premiums are recognized in accordance with existing guidance in Topic 944 – Financial Services – Insurance. Property and casualty insurance premiums are recognized as revenue over the policy periods. Interest and investment income are recognized as earned. Property and casualty premiums are recognized in accordance with existing guidance in Topic 944 – Financial Services – Insurance. F- 62     Net investment and interest income has multiple components. Interest income from bonds and mortgage notes are recognized when earned. Dividends on common and preferred stocks are recognized on the ex-dividend dates. Realized gains and losses on the sale or exchange of investments are recognized at the trade date. Net investment and interest income was recognized in accordance with existing guidance in Topic 825 – Financial Instruments.   In the following tables, the revenue is disaggregated by timing of revenue recognition:     Years Ended March 31,     2020   2019   2018           (In thousands)               Revenues recognized over time $ 147,565 $ 2,814,732 $ 2,617,990 Revenues recognized at a point in time   309,804   305,408   301,152 Total revenues recognized under ASC 606   457,369   3,120,140   2,919,142               Revenues recognized under ASC 842 or 840   3,182,902   406,070   353,924 Revenues recognized under ASC 944   200,768   131,563   217,575 Revenues recognized under ASC 320   137,829   110,934   110,473 Total revenues $ 3,978,868 $ 3,768,707 $ 3,601,114 In the above tables, the revenues recognized over time include self-moving equipment rentals, property management fees, the shipping fees associated with U-Box rentals and a portion of other revenues for fiscal 2019 and 2018, respectively. Whereas revenues recognized at a point in time include self-moving and self-storage products and service sales and a portion of other revenues. Self-moving equipment rentals are now in revenues recognized under ASC 842/840 as of April 1, 2019. We recognized liabilities resulting from contracts with customers for self-moving equipment rentals, self-storage revenues, U-Box revenues and tenant revenue, in which the length of the contract goes beyond the reported period end, although rental periods of the equipment, storage and U-Box contract are generally short-term in nature. The timing of revenue recognition results in liabilities that are reflected in deferred income on the balance sheet. Note 24.   Subsequent Events Our management has evaluated subsequent events occurring after March 31, 2020. We do not believe any other subsequent events have occurred that would require further disclosure or adjustment to our financial statements other than as stated below. In April 2020, Oxford paid AMERCO a cash dividend of $ 18.6 million. In April 2020, we expanded our corporate revolver by an additional $ 50.0 million and fully borrowed that as well. In May 2020, we entered into a one-year term loan totaling $ 200.0 million at a rate of one-month LIBOR plus a 2.00 % margin. This loan is secured by the Company’s claims for federal income tax refund, to further strengthen our liquidity position. F- 63  
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Subsequent Events
 12 Months Ended
Mar. 31, 2020
Subsequent Events [Abstract]  
Subsequent Events Note 24.   Subsequent Events Our management has evaluated subsequent events occurring after March 31, 2020. We do not believe any other subsequent events have occurred that would require further disclosure or adjustment to our financial statements other than as stated below. In April 2020, Oxford paid AMERCO a cash dividend of $ 18.6 million. In April 2020, we expanded our corporate revolver by an additional $ 50.0 million and fully borrowed that as well. In May 2020, we entered into a one-year term loan totaling $ 200.0 million at a rate of one-month LIBOR plus a 2.00 % margin. This loan is secured by the Company’s claims for federal income tax refund, to further strengthen our liquidity position.
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Schedule I - Condensed Financial Information of Amerco
 12 Months Ended
Mar. 31, 2020
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,     2020   2019     (In thousands) ASSETS Cash and cash equivalents $ 294,528 $ 428,950 Investment in subsidiaries   2,758,509   2,474,671 Related party assets   1,734,358   1,424,274 Other assets   502,064   120,896 Total assets $ 5,289,459 $ 4,448,791           LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities:         Other liabilities $ 1,068,291 $ 754,115     1,068,291   754,115 Stockholders' equity:         Preferred stock   –   – Common stock   10,497   10,497 Additional paid-in capital   454,029   453,536 Accumulated other comprehensive income (loss)   35,100   (68,459) Retained earnings:         Beginning of period   3,976,752   3,635,351 Adjustment for adoption of ASU 2016-01   –   9,724 Net earnings   442,048   370,857 Dividends   (19,608)   (39,180) End of period   4,399,192   3,976,752           Cost of common shares in treasury   (525,653)   (525,653) Cost of preferred shares in treasury   (151,997)   (151,997) Total stockholders' equity   4,221,168   3,694,676 Total liabilities and stockholders' equity $ 5,289,459 $ 4,448,791 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,     2020   2019   2018     (In thousands, except share and per share data) Revenues:             Net interest income and other revenues $ 6,586 $ 8,601 $ 4,606 Expenses:             Operating expenses   10,622   8,840   7,003 Other expenses   96   93   91 Total expenses   10,718   8,933   7,094 Equity in earnings of subsidiaries   205,940   279,589   681,786 Interest income   130,670   112,649   120,549 Pretax earnings   332,478   391,906   799,847 Income tax benfefit (expense)   109,570   (21,049)   (9,264) Earnings available to common shareholders $ 442,048 $ 370,857 $ 790,583 Basic and diluted earnings per common share $ 22.55 $ 18.93 $ 40.36 Weighted average common shares outstanding: Basic and diluted   19,603,708   19,592,048   19,588,889 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,     2020   2019   2018     (In thousands)               Net earnings $ 442,048 $ 370,857 $ 790,583 Other comprehensive income (loss)   101,350   (62,075)   37,873 Total comprehensive income $ 543,398 $ 308,782 $ 828,456 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,     2020   2019   2018     (In thousands) Cash flows from operating activities:             Net earnings $ 442,048 $ 370,857 $ 790,583 Change in investments in subsidiaries   (205,940)   (279,589)   (681,786) Adjustments to reconcile net earnings to cash provided by operations:             Depreciation   1   1   3 Net loss on sale of real and personal property   –   –   – Deferred income taxes   323,980   112,434   (182,358) Net change in other operating assets and liabilities:             Reinsurance recoverables and trade receivables   –   –   – Prepaid expenses   (381,190)   (6,289)   (36,516) Other assets   22   (40)   65 Related party assets   –   –   – Accounts payable and accrued expenses   1,935   2,260   278 Net cash provided (used) by operating activities   180,856   199,634   (109,731)               Cash flows from investing activities:             Purchases of property, plant and equipment   –   (1)   (1) Proceeds of property, plant and equipment   –   –   – Net cash used by investing activities   –   (1)   (1)               Cash flows from financing activities:             Proceeds from (repayments) of intercompany loans   (311,534)   (196,382)   250,214 Common stock dividends paid   (29,404)   (39,179)   (29,380) Net contribution from related party   21,600   –   – Net cash provided (used) by financing activities   (319,338)   (235,561)   220,834               Effects of exchange rate on cash   4,060   (4,331)   (3,124) Increase (decrease) in cash and cash equivalents   (134,422)   (40,259)   107,978 Cash and cash equivalents at beginning of period   428,950   469,209   361,231 Cash and cash equivalents at end of period $ 294,528 $ 428,950 $ 469,209 Income taxes paid, net of income taxes refunds received, amounted to $ 6.9 million, $ 4.3 million and $ 68.7 million for fiscal 2020, 2019 and 2018, respectively. The accompanying notes are an integral part of these condensed financial statements. F- 66  
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Notes to Condensed Financial Information for Amerco Only
 12 Months Ended
Mar. 31, 2020
1. Summary of Significant Accounting Policies Note 3.   Accounting Policies Use of Estimates The preparation of financial statements in conformity with the generally accepted accounting principles (“GAAP”) in the United States requires management to make estimates and judgments that affect the amounts reported in the financial statements and accompanying notes. The accounting policies that we deem most critical to us and that require management’s most difficult and subjective judgments include the principles of consolidation, the recoverability of property, plant and equipment, the adequacy of insurance reserves, the recognition and measurement of impairments for investments accounted for under ASC 320 - Investments - Debt and Equity Securities and the recognition and measurement of income tax assets and liabilities. The actual results experienced by us may materially differ from management’s estimates. Cash and Cash Equivalents We consider cash equivalents to be highly liquid debt securities with insignificant interest rate risk with original maturities from the date of purchase of three months or less. Financial instruments that potentially subject us to concentrations of credit risk consist principally of cash deposits. Accounts at each United States financial institution are insured by the Federal Deposit Insurance Corporation up to $ 250,000 . Accounts at each Canadian financial institution are insured by the Canada Deposit Insurance Corporation up to $ 100,000 CAD per account. As of March 31, 2020 and March 31, 2019, we held cash equivalents in excess of these insured limits. To mitigate this risk, we select financial institutions based on their credit ratings and financial strength. Investments Fixed Maturities and Marketable Equities. Fixed maturity investments consist of either marketable debt, equity or redeemable preferred stocks. As of the balance sheet dates, all of our investments in these securities were classified as available-for-sale. Available-for-sale investments are reported at fair value, with unrealized gains or losses recorded net of taxes and applicable adjustments to deferred policy acquisition costs in stockholders’ equity. Changes in the market value of common stocks are recognized in earnings. Fair value for these investments is based on quoted market prices, dealer quotes or discounted cash flows. The cost of investments sold is based on the specific identification method. In determining if and when a decline in market value below carrying value is an other-than-temporary impairment, management makes certain assumptions or judgments in its assessment including but not limited to: our ability to hold the security, quoted market prices, dealer quotes, discounted cash flows, industry factors, financial factors, and issuer specific information. Other-than-temporary impairments, to the extent of the decline, as well as realized gains or losses on the sale or exchange of investments are recognized in the current period operating results. F- 11   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) Mortgage Loans and Notes on Real Estate. Mortgage loans and notes on real estate are reported at their unpaid balance, net of any allowance for possible losses and any unamortized premium or discount. Recognition of Investment Income. Interest income from bonds and mortgage notes is recognized when earned. Dividends on common and preferred stocks are recognized on the ex-dividend dates. Realized gains and losses on the sale or exchange of investments are recognized at the trade date. Derivative Financial Instruments Our objective for holding derivative financial instruments is to manage interest rate risk exposure primarily through entering interest rate swap agreements and call options. We do not enter into these instruments for trading purposes. Counterparties to the interest rate swap agreements are major financial institutions. Derivatives are recognized at fair value on the balance sheet and are classified as prepaid expenses (asset) or accrued expenses (liability). Derivatives that are not designated as cash flow hedges for accounting purposes must be adjusted to fair value through income. If the derivative qualifies and is designated as a cash flow hedge, changes in its fair value will be recorded in accumulated other comprehensive income (loss) until the hedged item is recognized in earnings. See Note 11, Derivatives, of the Notes to Consolidated Financial Statements. Inventories and parts, net Inventories and parts, net were as follows:     March 31,     2020   2019     (In thousands) Truck and trailer parts and accessories (a) $ 88,138 $ 94,344 Hitches and towing components (b)   23,070   20,113 Moving supplies and propane (b)   11,824   10,356 Subtotal   123,032   124,813 Less: LIFO reserves   (18,886)   (18,987) Less: excess and obsolete reserves   (3,063)   (2,322) Total $ 101,083 $ 103,504           (a) Primarily held for internal usage, including equipment manufacturing and repair (b) Primarily held for retail sales           Inventories consist primarily of truck and trailer parts and accessories used to manufacture and repair rental equipment as well as products and accessories available for retail sale. Inventory is held at our owned locations; our independent dealers do not hold any of our inventory. Inventories are stated at the lower cost or net realizable value. Inventory cost is primarily determined using the last-in first-out method (“LIFO”). Inventories valued using LIFO consisted of approximately 96 % of the total inventories for March 31, 2020 and 2019. Had we utilized the first-in first-out method (“FIFO”), stated inventory balances would have been $18.9 million and $19.0 million higher as of March 31, 2020 and 2019, respectively. In fiscal 2020, the negative effect on income due to liquidation of a portion of the LIFO inventory was $ 0.1 million. F- 12   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) Property, Plant and Equipment Our Property, plant and equipment is stated at cost. Interest expense, if any, incurred during the initial construction of buildings is considered part of cost. Depreciation is computed for financial reporting purposes using the straight line or an accelerated method based on a declining balance formula over the following estimated useful lives: rental equipment 2-20 years and buildings and non-rental equipment 3-55 years. Routine maintenance costs are charged to operating expense as they are incurred. Gains and losses on dispositions of property, plant and equipment, other than real estate (“personal property”), are netted against depreciation expense when realized. The net amount of gains, netted against depreciation expense, were $ 27.1 million, $ 27.0 million and $ 11.8 million during fiscal 2020, 2019 and 2018, respectively. Equipment depreciation is recognized in amounts expected to result in the recovery of estimated residual values upon disposal, i.e., minimize gains or losses. In determining the depreciation rate, historical disposal experience, holding periods and trends in the market for vehicles are reviewed. As a result of changes in IRS regulations regarding the capitalization of assets, beginning in the first quarter of fiscal 2017, we raised the value threshold before certain assets are capitalized within our depreciation policy. This change in threshold, results in the immediate recognition of reported operating costs with a lagging decrease in depreciation expense over the term that these assets would have been depreciated. Due to this change, we had operating expenses of $ 27.7 million and $ 21.0 million in fiscal 2020 and 2019, respectively. This change in threshold benefited us through the immediate recognition of tax deductible costs. We regularly perform reviews to determine whether facts and circumstances exist which indicate that the carrying amount of assets, including estimates of residual value, may not be recoverable or that the useful life of assets are shorter or longer than originally estimated. Reductions in residual values (i.e., the price at which we ultimately expect to dispose of revenue earning equipment) or useful lives will result in an increase in depreciation expense over the remaining life of the equipment. Reviews are performed based on vehicle class, generally subcategories of trucks and trailers. We assess the recoverability of our assets by comparing the projected undiscounted net cash flows associated with the related asset or group of assets over their estimated remaining lives against their respective carrying amounts. We consider factors such as current and expected future market price trends on used vehicles and the expected life of vehicles included in the fleet. Impairment, if any, is based on the excess of the carrying amount over the fair value of those assets. If asset residual values are determined to be recoverable, but the useful lives are shorter or longer than originally estimated, the net book value of the assets is depreciated over the newly determined remaining useful lives. For our box truck fleet we utilize an accelerated method of depreciation based upon a declining formula. Under the declining balances method (2.4 times declining balance), the book value of a rental truck is reduced approximately 16 %, 13 %, 11 %, 9 %, 8 %, 7 %, and 6 % during years one through seven, respectively and then reduced on a straight line basis to a salvage value of 15 % by the end of year fifteen. Comparatively, a standard straight line approach would reduce the book value by approximately 5.7 % per year over the life of the truck. Although we intend to sell our used vehicles for prices approximating book value, the extent to which we realize a gain or loss on the sale of used vehicles is dependent upon various factors including, but not limited to, the general state of the used vehicle market, the age and condition of the vehicle at the time of its disposal and the depreciation rates with respect to the vehicle . We typically sell our used vehicles at our sales centers throughout the United States and Canada, on our website at uhaul.com/trucksales or by phone at 1-866-404-0355. Additionally, we sell a large portion of our pickup and cargo van fleet at automobile dealer auctions. In addition to our property, plant and equipment, we had real estate held for future development or use of $ 69.6 million and $ 53.5 million for fiscal 2020 and 2019, respectively and is included in Investments, other.   Receivables Trade receivables include trade accounts from moving and self-storage customers and dealers, insurance premiums and amounts due from re-insurers, less management’s estimate of uncollectible accounts. F- 13   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) Insurance premiums receivable for policies that are billed through contracted agents are recorded net of commissions payable. A commission payable is recorded as a separate liability for those premiums that are billed direct. Reinsurance recoverables include case reserves and actuarial estimates of claims incurred but not reported ("IBNR"). These receivables are not expected to be collected until after the associated claim has been adjudicated and billed to the re-insurer. The reinsurance recoverables may have little or no allowance for doubtful accounts due to the fact that reinsurance is typically procured from carriers with strong credit ratings. Furthermore, we do not cede losses to a re-insurer if the carrier is deemed financially unable to perform on the contract. Reinsurance recoverables also include insurance ceded to other insurance companies. Notes and mortgage receivables include accrued interest and are reduced by discounts and amounts considered by management to be uncollectible.   Policy Benefits and Losses, Claims and Loss Expenses Payable Liabilities for future policy benefits related to life insurance, Medical supplement insurance, and deferred annuities are determined by management utilizing the net premium valuation methodology and are accrued when premium revenue is recognized. The liability, which represents the present value of future benefits to be paid to policyholders and related expenses less the present value of future net premiums, is estimated using assumptions applicable at the time the insurance contracts are written, with provisions for the risk of adverse deviation, as appropriate. Assumptions include expected mortality and morbidity experience, policy lapses and surrenders, current asset yields and expenses, and expected interest rate yields. The Company periodically performs a gross premium valuation and reviews original assumptions, including capitalized expenses which reduce the gross premium valuation, to evaluate whether the assets and liabilities are adequate and whether a loss reserve should be recognized. Liabilities for health, disability and other policies include estimates of payments to be made on insurance claims for reported losses and estimates of IBNR losses. Oxford’s liabilities for deferred annuity contracts consist of contract account balances that accrue to the benefit of the policyholders. Property and Casualty Insurance’s liability for reported and unreported losses is based on Repwest’s historical data along with industry averages. The liability for unpaid loss adjustment expenses is based on historical ratios of loss adjustment expenses paid to losses paid. Amounts recoverable from re-insurers on unpaid losses are estimated in a manner consistent with the claim liability associated with the re-insured policy. Adjustments to the liability for unpaid losses and loss expenses as well as amounts recoverable from re-insurers on unpaid losses are charged or credited to expense in the periods in which they are made. Due to the nature of the underlying risks and high degree of uncertainty associated with the determination of the liability for future policy benefits and claims, the amounts to be ultimately paid to settle these liabilities cannot be precisely determined and may vary significantly from the estimated liability, especially for long-tailed casualty lines of business such as excess workers’ compensation.   As a result of the long-tailed nature of the excess workers’ compensation policies written by Repwest during 1983 through 2001, it may take a number of years for claims to be fully reported and finally settled. On a regular basis insurance reserve adequacy is reviewed by management to determine if existing assumptions need to be updated. In determining the assumptions for calculating workers’ compensation reserves, management considers multiple factors including the following: Claimant longevity Cost trends associated with claimant treatments Changes in ceding entity and third party administrator reporting practices Changes in environmental factors including legal and regulatory Current conditions affecting claim settlements Future economic conditions including inflation F- 14   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) We have reserved each claim based upon the accumulation of current claim costs projected through each claimant’s life expectancy and then adjusted for applicable reinsurance arrangements.   Management reviews each claim bi-annually or more frequently, if there are changes in facts or circumstances to determine if the estimated life-time claim costs have increased and then adjusts the reserve estimate accordingly at that time.   We have factored in an estimate of what the potential cost increases could be in our IBNR liability.   We have not assumed settlement of the existing claims in calculating the reserve amount, unless it is in the final stages of completion. Continued increases in claim costs, including medical inflation and new treatments and medications could lead to future adverse development resulting in additional reserve strengthening.   Conversely, settlement of existing claims or if injured workers return to work or expire prematurely, could lead to future positive development.   Self-Insurance Reserves U-Haul retains the risk for certain public liability and property damage programs related to our rental equipment. The consolidated balance sheets include $ 410.1 million and $ 407.9 million of liabilities related to these programs as of March 31, 2020 and 2019, respectively. These liabilities are recorded in Policy benefits and losses, claims and loss expenses payable. Management takes into account losses incurred based upon actuarial estimates, past experience, current claim trends, as well as social and economic conditions. This liability is subject to change in the future based upon changes in the underlying assumptions including claims experience, frequency of incidents, and severity of incidents. Additionally, as of March 31, 2020 and 2019, the consolidated balance sheets include liabilities of $ 15.7 million and $ 15.6 million, respectively, related to medical plan benefits we provide for eligible employees. We estimate this liability based on actual claims outstanding as of the balance sheet date as well as an actuarial estimate of IBNR claims. These amounts are recorded in Accounts payable and accrued expenses on the consolidated balance sheets. Revenue Recognition Self-moving rentals are recognized for the period that trucks and moving equipment are rented. Self-storage revenues, based upon the number of paid storage contract days, are recognized as earned during the period.   Sales of self-moving and self-storage related products are recognized at the time that title passes and the customer accepts delivery. Property and casualty insurance premiums are recognized as revenue over the policy periods. Traditional life and Medicare supplement insurance premiums are recognized as revenue over the premium-paying periods of the contracts when due from the policyholders. For products where premiums are due over a significantly shorter duration than the period over which benefits are provided, such as our single premium whole life product, premiums are recognized when received and excess profits are deferred and recognized in relation to the insurance in force. Interest and investment income are recognized as earned. Amounts collected from customers for sales tax are recorded on a net basis. Please see Note 23, Revenue Recognition, of the Notes to Consolidated Financial Statements.   Advertising All advertising costs are expensed as incurred. Advertising expense was $ 13.7 million, $ 10.6 million and $ 8.1 million in fiscal 2020, 2019 and 2018, respectively.   Deferred Policy Acquisition Costs Commissions and other costs that fluctuate with and are primarily related to the successful acquisition or renewal of certain insurance premiums are deferred. For our Life Insurance’s life and health insurance products, these costs are amortized, with interest, in relation to revenue such that costs are realized as a constant percentage of revenue. For its annuity insurance products the costs are amortized, with interest, in relation to the present value of actual and expected gross profits. F- 15   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) Starting in fiscal 2014, new annuity contract holders were provided with a sales inducement in the form of a premium bonus (the “Sales Inducement Asset”).   Sales inducements are recognized as an asset with a corresponding increase to the policyholder liability and are amortized in a similar manner to Deferred Policy Acquisition Costs.   As of December 31, 2019 and 2018, the Sales Inducement Asset included with Deferred Policy Acquisition Costs amounted to $ 16.8 million and $ 19.1 million, respectively on the consolidated balance sheet and amortization expense totaled $ 5.5 million, $ 3.7 million and $ 3.7 million for the periods ended December 31, 2019, 2018 and 2017, respectively.   Environmental Costs Liabilities are recorded when environmental assessments and remedial efforts, if applicable, are probable and the costs can be reasonably estimated. The amount of the liability is based on management’s best estimate of undiscounted future costs. Certain recoverable environmental costs related to the removal of underground storage tanks or related contamination are capitalized and amortized over the estimated useful lives of the properties. These costs are capitalized if they improve the safety or efficiency of the property or are incurred in preparing the property for sale.   Income Taxes AMERCO files a consolidated tax return with all of its legal subsidiaries. The provision for income taxes reflects deferred income taxes resulting from changes in temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements. Comprehensive Income (Loss) Comprehensive income (loss) consists of net earnings, foreign currency translation adjustments, unrealized gains and losses on investments, the change in fair value of cash flow hedges and the change in postretirement benefit obligations. Debt Issuance Costs We defer costs directly associated with acquiring third-party financing. Debt issuance costs are deferred and amortized to interest expense using the effective interest method. Debt issuance costs related to our long-term debt are reflected as a direct deduction from the carrying amount of the debt. Please see Note 9, Borrowings, of the Notes to Consolidated Financial Statements. Adoption of New Accounting Pronouncements On April 1, 2019, we adopted Accounting Standards Codification Topic 842, which require a lessee to recognize all leases with terms greater than 12 months on their balance sheet as a liability for its lease obligation, measured at the present value of lease payments not yet paid, and a corresponding asset representing its right to use the underlying asset over the lease term. The new leasing standard does not significantly change a lessee’s recognition, measurement and presentation of expenses and cash flows. Additionally, Topic 842 aligns key aspects of lessor accounting with the new revenue recognition guidance in Topic 606 (see   Note 23, Revenue Recognition) and expands disclosure of key information about leasing arrangements in an attempt to help financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases . We have determined portions of the vehicle rental contracts that convey the right to control the use of identified assets are within the scope of the accounting guidance contained in the new leasing standard. As described in Note 23, Revenue Recognition, the Company’s rental related revenues are accounted for under the revenue accounting standard Topic 606. Topic 842 requires leases to be classified as either operating or finance, with lease classification determined in a manner similar to the former lease guidance. The basic principle is that leases of all types convey the right to direct the use and obtain substantially all the economic benefits of an identified asset, meaning they create an asset and liability for lessees. Lessees classify leases as either finance leases (comparable to former capital leases) or operating leases. Costs for a finance lease are split between amortization and interest expense, with operating leases reporting a single lease expense. F- 16   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) Topic 842 substantially changed the accounting for sale-leasebacks going forward, where we are to assess if the contract qualifies as a sale under ASC 606. We have determined that our equipment sale-leasebacks do not qualify as a sale, as the buyer-lessors do not obtain control of the assets in our ongoing sale-leaseback arrangements. As a result, we expect future sale-leasebacks to be accounted for as a financial liability and the leased assets will be capitalized at cost. As all former sale-leasebacks have been accounted for as a sale, we did not reassess any former sale-leaseback transactions. We adopted the new leasing standard using the Effective Date Approach, which allows entities to only apply the new lease standard in the year of adoption. We elected the available practical expedients for existing or expired contracts of lessees and lessors wherein the Company is not required to reassess whether such contracts contain leases, the lease classification or the initial direct costs. Additionally, we elected as accounting policies to not recognize right of use assets or lease liabilities for short-term leases (i.e. those with a term of 12 months or less) and to combine lease and non-lease components in the contract for both lessee and lessor arrangements.   Adoption of this standard resulted in most of our operating lease commitments being recognized as operating lease liabilities and right-of-use (“ROU”) assets. Please see Note 18, Leases, of the Notes to Consolidated Financial Statements. On April 10, 2020, the FASB issued a question-and-answer document that allows entities to elect not evaluate whether a concession provided by a lessor to a lessee in response to COVID-19 is a lease modification. An entity that makes this election may then elect to apply the lease modification guidance to that relief or account for the concession as if it were contemplated in the existing contract. On April 1, 2019, the Company adopted ASU 2017-08, Receivables – Nonrefundable Fees and Other Cost (Subtopic 310-20), Premium Amortization on Purchased Callable Debt Securities. These amendments shorten the amortization period for certain callable debt securities held at a premium. Specifically, the amendments require the premium to be amortized to the earliest call date. The amendments do not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. The adoption of the standard did not have a material impact on our consolidated financial statements. Recent Accounting Pronouncements In June 2016, FASB issued ASU 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). This standard requires the measurement and recognition of expected credit losses held at amortized cost. This new standard requires the use of forward-looking information to estimate credit losses and requires credit losses for available for sale debt securities to be recorded through an allowance for credit losses rather than a reduction in the amortized cost basis. This update is effective for public companies for annual reporting periods beginning after December 15, 2019. In November 2019, the FASB released ASU 2019-11, Codification Improvements to Topic 326, Financial Instruments—Credit Losses, which clarified narrow issues within ASU 2016-13. Specifically, the four main clarifications include: expected recoveries for purchased financial assets with credit deterioration; transition relief for troubled debt restructurings; disclosures for accrued interest receivables; and financial assets backed by collateral maintenance provisions. The Company has completed the development of the implementation plan and is in the process of model development. The Company is evaluating whether ASU 2016-13 will have a material impact on the Company’s consolidated financial statements. In August 2018, the FASB adopted ASU 2018-12, Targeted Improvements to the Accounting for Long-Duration Contracts (“ASU 2018-12”). The amendments in this update require insurance companies to annually review and update the assumptions used for measuring the liability under long-duration contracts, such as life insurance, disability income, and annuities. The amendments are effective for fiscal years, and interim periods within those fiscal years, beginning after December 31, 2020. We are currently in the process of evaluating the impact of the adoption of this amendment on our financial statements; however, the adoption of ASU 2018-12 will impact the statements of operations because the effect of any update to the assumptions we used at the inception of the contracts will be recorded in net income. F- 17   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820) - Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”), which modifies the disclosures on fair value measurements by removing the requirement to disclose the amount and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy and the policy for the timing of such transfers. ASU 2018-13 expands the disclosure requirements for Level 3 fair value measurements, primarily focused on changes in unrealized gains and losses included in other comprehensive income. ASU 2018-13 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The adoption of the standard is not expected to have a material impact on our consolidated financial statements. In August 2018, the FASB issued ASU 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General Subtopic 715-20 - Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans (“ASU 2018-14”), which amends ASC 715 to add, remove, and clarify disclosure requirements related to defined benefit pension and other postretirement plans. ASU 2018-14 is effective for fiscal years ending after December 15, 2020. We are currently evaluating the impact of this standard on our consolidated financial statements. In March 2020, FASB issued ASU 2020-04, Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”). This standard provides temporary optional expedients and exceptions to the US GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens of the expected market transition from the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates, such as the Secured Overnight Financing Rate. Entities can elect not to apply certain modification accounting requirements to contracts affected by what the guidance calls reference rate reform, if certain criteria are met. An entity that makes this election would not have to remeasure the contracts at the modification date or reassess a previous accounting determination. The guidance is effective upon issuance and generally can be applied through December 31, 2022. We are currently evaluating the impact of these standards on our consolidated financial statements. From time to time, new accounting pronouncements are issued by the FASB or the SEC that are adopted by us as of the specified effective date. Unless otherwise discussed, these ASUs entail technical corrections to existing guidance or affect guidance related to specialized industries or entities and therefore will have minimal, if any, impact on our financial position or results of operations upon adoption.   Note 4.   Earnings Per Share Our earnings per share is calculated by dividing our earnings available to common stockholders by the weighted average common shares outstanding, basic and diluted. The weighted average common shares outstanding exclude post-1992 shares of the employee stock ownership plan that have not been committed to be released. The unreleased shares, net of shares committed to be released, were 11,949 ; and 17,581 as of March 31, 2019 and 2018, respectively. As of March 31, 2020, all of these shares have been released.   F- 18  
Amerco [Member]  
1. Summary of Significant Accounting Policies CONDENSED FINANCIAL INFORMATION OF AMERCO NOTES TO CONDENSED FINANCIAL INFORMATION March 31, 2020, 2019, and 2018 1.   Summary of Significant Accounting Policies AMERCO, a Nevada corporation, was incorporated in April, 1969, and is the holding Company for U-Haul International, Inc., Amerco Real Estate Company, Repwest Insurance Company and Oxford Life Insurance Company. The financial statements of the Registrant should be read in conjunction with the Consolidated Financial Statements and notes thereto included in this Annual Report. AMERCO is included in a consolidated Federal income tax return with all of its U.S. subsidiaries. Accordingly, the provision for income taxes has been calculated for Federal income taxes of AMERCO and subsidiaries included in the consolidated return of AMERCO. State taxes for all subsidiaries are allocated to the respective subsidiaries. The financial statements include only the accounts of AMERCO, which include certain of the corporate operations of AMERCO. The interest in AMERCO’s majority owned subsidiaries is accounted for on the equity method. The intercompany interest income and expenses are eliminated in the Consolidated Financial Statements. 2.   Guarantees AMERCO has guaranteed performance of certain long-term leases and other obligations. See Note 18, Leases, and Note 20, Related Party Transactions, of the Notes to Consolidated Financial Statements.
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Schedule II - Amerco and Consolidated Subsidiaries Valuation and Qualifying Accounts
 12 Months Ended
Mar. 31, 2020
Disclosure Text Block [Abstract]  
Schedule Of Valuation And Qualifying Accounts Disclosure [Text Block] SCHEDULE II AMERCO AND CONSOLIDATED SUBSIDIARIES VALUATION AND QUALIFYING ACCOUNTS       Balance at Beginning of Year   Additions Charged to Costs and Expenses   Additions Charged to Other Accounts   Deductions   Balance at Year End                       Year ended March 31, 2020   (In thousands) Allowance for doubtful accounts                     (deducted from trade receivable) $ 549 $ 731 $ – $ (745) $ 535 Allowance for obsolescence                     (deducted from inventory) $ 2,322 $ 741 $ – $ – $ 3,063 Allowance for LIFO                     (deducted from inventory) $ 18,987 $ – $ – $ (101) $ 18,886 Allowance for probable losses                     (deducted from mortgage loans) $ 493 $ – $ – $ – $ 493                       Year ended March 31, 2019     Allowance for doubtful accounts                     (deducted from trade receivable) $ 496 $ 1,550 $ – $ (1,497) $ 549 Allowance for obsolescence                     (deducted from inventory) $ 5,329 $ – $ – $ (3,007) $ 2,322 Allowance for LIFO                     (deducted from inventory) $ 16,126 $ 2,861 $ – $ – $ 18,987 Allowance for probable losses                     (deducted from mortgage loans) $ 618 $ – $ – $ (125) $ 493                       Year ended March 31, 2018                     Allowance for doubtful accounts                     (deducted from trade receivable) $ 585 $ 886 $ – $ (929) $ 496 Allowance for obsolescence                     (deducted from inventory) $ 2,050 $ 3,279 $ – $ – $ 5,329 Allowance for LIFO                     (deducted from inventory) $ 14,340 $ 1,786 $ – $ – $ 16,126 Allowance for probable losses                     (deducted from mortgage loans) $ 493 $ 125 $ – $ – $ 618
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Schedule V - Supplemental Information (for Property-Casualty Insurance Operations)
 12 Months Ended
Dec. 31, 2019
Disclosure Text Block [Abstract]  
Schedule Of Supplemental Information For Property Casualty Insurance Underwriters [Text Block] SCHEDULE V AMERCO AND CONSOLIDATED SUBSIDIARIES SUPPLEMENTAL INFORMATION (FOR PROPERTY-CASUALTY INSURANCE Operations) Years Ended December 31, 2019, 2018, AND 2017   Fiscal Year   Affiliation with Registrant   Deferred Policy Acquisition Cost   Reserves for Unpaid Claims and Adjustment Expenses   Discount if any, Deducted   Unearned Premiums   Net Earned Premiums (1)   Net Investment Income (2)   Claim and Claim Adjustment Expenses Incurred Related to Current Year   Claim and Claim Adjustment Expenses Incurred Related to Prior Year   Amortization of Deferred Policy Acquisition Costs   Paid Claims and Claim Adjustment Expense   Net Premiums Written (1) (In thousands) 2020   Consolidated property casualty entity $ – $ 209,127 $ – $ 233 $ 69,138 $ 19,926 $ 22,137 $ (9,535) $ – $ 24,608 $ 66,277 2019   Consolidated property casualty entity   –   228,970   –   239   60,853   9,373   19,579   (5,365)   –   19,228   61,022 2018   Consolidated property casualty entity   –   233,554   –   70   57,100   14,079   15,749   233   –   17,366   57,123   (1)The earned and written premiums are reported net of intersegment transactions. There were $ 3.1 million, $ 2.8 million and $ 2.3 million in written premiums and $ 2.8 million, $ 2.6 million and $ 1.7 million in earned premiums eliminated for the year ended December 31, 2019, 2018 and 2017, respectively. (2) Net Investment Income excludes net realized (gains) losses   on investments of ($ 0.4 ) million, ($ 3.0 ) million and ($ 1.7 ) million for the years ended December 31, 2019, 2018 and 2017, respectively .
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Accounting Policies (Policy Text Block)
 12 Months Ended
Mar. 31, 2020
Policy Text Block [Abstract]  
Use of Estimates Use of Estimates The preparation of financial statements in conformity with the generally accepted accounting principles (“GAAP”) in the United States requires management to make estimates and judgments that affect the amounts reported in the financial statements and accompanying notes. The accounting policies that we deem most critical to us and that require management’s most difficult and subjective judgments include the principles of consolidation, the recoverability of property, plant and equipment, the adequacy of insurance reserves, the recognition and measurement of impairments for investments accounted for under ASC 320 - Investments - Debt and Equity Securities and the recognition and measurement of income tax assets and liabilities. The actual results experienced by us may materially differ from management’s estimates.
Cash and Cash Equivalents Cash and Cash Equivalents We consider cash equivalents to be highly liquid debt securities with insignificant interest rate risk with original maturities from the date of purchase of three months or less. Financial instruments that potentially subject us to concentrations of credit risk consist principally of cash deposits. Accounts at each United States financial institution are insured by the Federal Deposit Insurance Corporation up to $ 250,000 . Accounts at each Canadian financial institution are insured by the Canada Deposit Insurance Corporation up to $ 100,000 CAD per account. As of March 31, 2020 and March 31, 2019, we held cash equivalents in excess of these insured limits. To mitigate this risk, we select financial institutions based on their credit ratings and financial strength.
Investments Investments Fixed Maturities and Marketable Equities. Fixed maturity investments consist of either marketable debt, equity or redeemable preferred stocks. As of the balance sheet dates, all of our investments in these securities were classified as available-for-sale. Available-for-sale investments are reported at fair value, with unrealized gains or losses recorded net of taxes and applicable adjustments to deferred policy acquisition costs in stockholders’ equity. Changes in the market value of common stocks are recognized in earnings. Fair value for these investments is based on quoted market prices, dealer quotes or discounted cash flows. The cost of investments sold is based on the specific identification method. In determining if and when a decline in market value below carrying value is an other-than-temporary impairment, management makes certain assumptions or judgments in its assessment including but not limited to: our ability to hold the security, quoted market prices, dealer quotes, discounted cash flows, industry factors, financial factors, and issuer specific information. Other-than-temporary impairments, to the extent of the decline, as well as realized gains or losses on the sale or exchange of investments are recognized in the current period operating results. F- 11   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) Mortgage Loans and Notes on Real Estate. Mortgage loans and notes on real estate are reported at their unpaid balance, net of any allowance for possible losses and any unamortized premium or discount. Recognition of Investment Income. Interest income from bonds and mortgage notes is recognized when earned. Dividends on common and preferred stocks are recognized on the ex-dividend dates. Realized gains and losses on the sale or exchange of investments are recognized at the trade date.
Derivative Financial Instruments Derivative Financial Instruments Our objective for holding derivative financial instruments is to manage interest rate risk exposure primarily through entering interest rate swap agreements and call options. We do not enter into these instruments for trading purposes. Counterparties to the interest rate swap agreements are major financial institutions. Derivatives are recognized at fair value on the balance sheet and are classified as prepaid expenses (asset) or accrued expenses (liability). Derivatives that are not designated as cash flow hedges for accounting purposes must be adjusted to fair value through income. If the derivative qualifies and is designated as a cash flow hedge, changes in its fair value will be recorded in accumulated other comprehensive income (loss) until the hedged item is recognized in earnings. See Note 11, Derivatives, of the Notes to Consolidated Financial Statements.
Inventory, net Inventories and parts, net Inventories and parts, net were as follows:     March 31,     2020   2019     (In thousands) Truck and trailer parts and accessories (a) $ 88,138 $ 94,344 Hitches and towing components (b)   23,070   20,113 Moving supplies and propane (b)   11,824   10,356 Subtotal   123,032   124,813 Less: LIFO reserves   (18,886)   (18,987) Less: excess and obsolete reserves   (3,063)   (2,322) Total $ 101,083 $ 103,504           (a) Primarily held for internal usage, including equipment manufacturing and repair (b) Primarily held for retail sales           Inventories consist primarily of truck and trailer parts and accessories used to manufacture and repair rental equipment as well as products and accessories available for retail sale. Inventory is held at our owned locations; our independent dealers do not hold any of our inventory. Inventories are stated at the lower cost or net realizable value. Inventory cost is primarily determined using the last-in first-out method (“LIFO”). Inventories valued using LIFO consisted of approximately 96 % of the total inventories for March 31, 2020 and 2019. Had we utilized the first-in first-out method (“FIFO”), stated inventory balances would have been $18.9 million and $19.0 million higher as of March 31, 2020 and 2019, respectively. In fiscal 2020, the negative effect on income due to liquidation of a portion of the LIFO inventory was $ 0.1 million. F- 12   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued)
Property, Plant and Equipment Property, Plant and Equipment Our Property, plant and equipment is stated at cost. Interest expense, if any, incurred during the initial construction of buildings is considered part of cost. Depreciation is computed for financial reporting purposes using the straight line or an accelerated method based on a declining balance formula over the following estimated useful lives: rental equipment 2-20 years and buildings and non-rental equipment 3-55 years. Routine maintenance costs are charged to operating expense as they are incurred. Gains and losses on dispositions of property, plant and equipment, other than real estate (“personal property”), are netted against depreciation expense when realized. The net amount of gains, netted against depreciation expense, were $ 27.1 million, $ 27.0 million and $ 11.8 million during fiscal 2020, 2019 and 2018, respectively. Equipment depreciation is recognized in amounts expected to result in the recovery of estimated residual values upon disposal, i.e., minimize gains or losses. In determining the depreciation rate, historical disposal experience, holding periods and trends in the market for vehicles are reviewed. As a result of changes in IRS regulations regarding the capitalization of assets, beginning in the first quarter of fiscal 2017, we raised the value threshold before certain assets are capitalized within our depreciation policy. This change in threshold, results in the immediate recognition of reported operating costs with a lagging decrease in depreciation expense over the term that these assets would have been depreciated. Due to this change, we had operating expenses of $ 27.7 million and $ 21.0 million in fiscal 2020 and 2019, respectively. This change in threshold benefited us through the immediate recognition of tax deductible costs. We regularly perform reviews to determine whether facts and circumstances exist which indicate that the carrying amount of assets, including estimates of residual value, may not be recoverable or that the useful life of assets are shorter or longer than originally estimated. Reductions in residual values (i.e., the price at which we ultimately expect to dispose of revenue earning equipment) or useful lives will result in an increase in depreciation expense over the remaining life of the equipment. Reviews are performed based on vehicle class, generally subcategories of trucks and trailers. We assess the recoverability of our assets by comparing the projected undiscounted net cash flows associated with the related asset or group of assets over their estimated remaining lives against their respective carrying amounts. We consider factors such as current and expected future market price trends on used vehicles and the expected life of vehicles included in the fleet. Impairment, if any, is based on the excess of the carrying amount over the fair value of those assets. If asset residual values are determined to be recoverable, but the useful lives are shorter or longer than originally estimated, the net book value of the assets is depreciated over the newly determined remaining useful lives. For our box truck fleet we utilize an accelerated method of depreciation based upon a declining formula. Under the declining balances method (2.4 times declining balance), the book value of a rental truck is reduced approximately 16 %, 13 %, 11 %, 9 %, 8 %, 7 %, and 6 % during years one through seven, respectively and then reduced on a straight line basis to a salvage value of 15 % by the end of year fifteen. Comparatively, a standard straight line approach would reduce the book value by approximately 5.7 % per year over the life of the truck. Although we intend to sell our used vehicles for prices approximating book value, the extent to which we realize a gain or loss on the sale of used vehicles is dependent upon various factors including, but not limited to, the general state of the used vehicle market, the age and condition of the vehicle at the time of its disposal and the depreciation rates with respect to the vehicle . We typically sell our used vehicles at our sales centers throughout the United States and Canada, on our website at uhaul.com/trucksales or by phone at 1-866-404-0355. Additionally, we sell a large portion of our pickup and cargo van fleet at automobile dealer auctions. In addition to our property, plant and equipment, we had real estate held for future development or use of $ 69.6 million and $ 53.5 million for fiscal 2020 and 2019, respectively and is included in Investments, other.
Receivables Receivables Trade receivables include trade accounts from moving and self-storage customers and dealers, insurance premiums and amounts due from re-insurers, less management’s estimate of uncollectible accounts. F- 13   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) Insurance premiums receivable for policies that are billed through contracted agents are recorded net of commissions payable. A commission payable is recorded as a separate liability for those premiums that are billed direct. Reinsurance recoverables include case reserves and actuarial estimates of claims incurred but not reported ("IBNR"). These receivables are not expected to be collected until after the associated claim has been adjudicated and billed to the re-insurer. The reinsurance recoverables may have little or no allowance for doubtful accounts due to the fact that reinsurance is typically procured from carriers with strong credit ratings. Furthermore, we do not cede losses to a re-insurer if the carrier is deemed financially unable to perform on the contract. Reinsurance recoverables also include insurance ceded to other insurance companies. Notes and mortgage receivables include accrued interest and are reduced by discounts and amounts considered by management to be uncollectible.
Policy Benefits and Losses, Claims and Loss Expenses Payable Policy Benefits and Losses, Claims and Loss Expenses Payable Liabilities for future policy benefits related to life insurance, Medical supplement insurance, and deferred annuities are determined by management utilizing the net premium valuation methodology and are accrued when premium revenue is recognized. The liability, which represents the present value of future benefits to be paid to policyholders and related expenses less the present value of future net premiums, is estimated using assumptions applicable at the time the insurance contracts are written, with provisions for the risk of adverse deviation, as appropriate. Assumptions include expected mortality and morbidity experience, policy lapses and surrenders, current asset yields and expenses, and expected interest rate yields. The Company periodically performs a gross premium valuation and reviews original assumptions, including capitalized expenses which reduce the gross premium valuation, to evaluate whether the assets and liabilities are adequate and whether a loss reserve should be recognized. Liabilities for health, disability and other policies include estimates of payments to be made on insurance claims for reported losses and estimates of IBNR losses. Oxford’s liabilities for deferred annuity contracts consist of contract account balances that accrue to the benefit of the policyholders. Property and Casualty Insurance’s liability for reported and unreported losses is based on Repwest’s historical data along with industry averages. The liability for unpaid loss adjustment expenses is based on historical ratios of loss adjustment expenses paid to losses paid. Amounts recoverable from re-insurers on unpaid losses are estimated in a manner consistent with the claim liability associated with the re-insured policy. Adjustments to the liability for unpaid losses and loss expenses as well as amounts recoverable from re-insurers on unpaid losses are charged or credited to expense in the periods in which they are made. Due to the nature of the underlying risks and high degree of uncertainty associated with the determination of the liability for future policy benefits and claims, the amounts to be ultimately paid to settle these liabilities cannot be precisely determined and may vary significantly from the estimated liability, especially for long-tailed casualty lines of business such as excess workers’ compensation.   As a result of the long-tailed nature of the excess workers’ compensation policies written by Repwest during 1983 through 2001, it may take a number of years for claims to be fully reported and finally settled. On a regular basis insurance reserve adequacy is reviewed by management to determine if existing assumptions need to be updated. In determining the assumptions for calculating workers’ compensation reserves, management considers multiple factors including the following: Claimant longevity Cost trends associated with claimant treatments Changes in ceding entity and third party administrator reporting practices Changes in environmental factors including legal and regulatory Current conditions affecting claim settlements Future economic conditions including inflation F- 14   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) We have reserved each claim based upon the accumulation of current claim costs projected through each claimant’s life expectancy and then adjusted for applicable reinsurance arrangements.   Management reviews each claim bi-annually or more frequently, if there are changes in facts or circumstances to determine if the estimated life-time claim costs have increased and then adjusts the reserve estimate accordingly at that time.   We have factored in an estimate of what the potential cost increases could be in our IBNR liability.   We have not assumed settlement of the existing claims in calculating the reserve amount, unless it is in the final stages of completion. Continued increases in claim costs, including medical inflation and new treatments and medications could lead to future adverse development resulting in additional reserve strengthening.   Conversely, settlement of existing claims or if injured workers return to work or expire prematurely, could lead to future positive development.
Self-Insurance Reserves Self-Insurance Reserves U-Haul retains the risk for certain public liability and property damage programs related to our rental equipment. The consolidated balance sheets include $ 410.1 million and $ 407.9 million of liabilities related to these programs as of March 31, 2020 and 2019, respectively. These liabilities are recorded in Policy benefits and losses, claims and loss expenses payable. Management takes into account losses incurred based upon actuarial estimates, past experience, current claim trends, as well as social and economic conditions. This liability is subject to change in the future based upon changes in the underlying assumptions including claims experience, frequency of incidents, and severity of incidents. Additionally, as of March 31, 2020 and 2019, the consolidated balance sheets include liabilities of $ 15.7 million and $ 15.6 million, respectively, related to medical plan benefits we provide for eligible employees. We estimate this liability based on actual claims outstanding as of the balance sheet date as well as an actuarial estimate of IBNR claims. These amounts are recorded in Accounts payable and accrued expenses on the consolidated balance sheets.
Revenue Recognition Revenue Recognition Self-moving rentals are recognized for the period that trucks and moving equipment are rented. Self-storage revenues, based upon the number of paid storage contract days, are recognized as earned during the period.   Sales of self-moving and self-storage related products are recognized at the time that title passes and the customer accepts delivery. Property and casualty insurance premiums are recognized as revenue over the policy periods. Traditional life and Medicare supplement insurance premiums are recognized as revenue over the premium-paying periods of the contracts when due from the policyholders. For products where premiums are due over a significantly shorter duration than the period over which benefits are provided, such as our single premium whole life product, premiums are recognized when received and excess profits are deferred and recognized in relation to the insurance in force. Interest and investment income are recognized as earned. Amounts collected from customers for sales tax are recorded on a net basis. Please see Note 23, Revenue Recognition, of the Notes to Consolidated Financial Statements.
Advertising Advertising All advertising costs are expensed as incurred. Advertising expense was $ 13.7 million, $ 10.6 million and $ 8.1 million in fiscal 2020, 2019 and 2018, respectively.
Deferred Policy Acquisition Cost Deferred Policy Acquisition Costs Commissions and other costs that fluctuate with and are primarily related to the successful acquisition or renewal of certain insurance premiums are deferred. For our Life Insurance’s life and health insurance products, these costs are amortized, with interest, in relation to revenue such that costs are realized as a constant percentage of revenue. For its annuity insurance products the costs are amortized, with interest, in relation to the present value of actual and expected gross profits. F- 15   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) Starting in fiscal 2014, new annuity contract holders were provided with a sales inducement in the form of a premium bonus (the “Sales Inducement Asset”).   Sales inducements are recognized as an asset with a corresponding increase to the policyholder liability and are amortized in a similar manner to Deferred Policy Acquisition Costs.   As of December 31, 2019 and 2018, the Sales Inducement Asset included with Deferred Policy Acquisition Costs amounted to $ 16.8 million and $ 19.1 million, respectively on the consolidated balance sheet and amortization expense totaled $ 5.5 million, $ 3.7 million and $ 3.7 million for the periods ended December 31, 2019, 2018 and 2017, respectively.
Environmental Costs Environmental Costs Liabilities are recorded when environmental assessments and remedial efforts, if applicable, are probable and the costs can be reasonably estimated. The amount of the liability is based on management’s best estimate of undiscounted future costs. Certain recoverable environmental costs related to the removal of underground storage tanks or related contamination are capitalized and amortized over the estimated useful lives of the properties. These costs are capitalized if they improve the safety or efficiency of the property or are incurred in preparing the property for sale.
Income Taxes Income Taxes AMERCO files a consolidated tax return with all of its legal subsidiaries. The provision for income taxes reflects deferred income taxes resulting from changes in temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements.
Comprehensive Income (Loss) Comprehensive Income (Loss) Comprehensive income (loss) consists of net earnings, foreign currency translation adjustments, unrealized gains and losses on investments, the change in fair value of cash flow hedges and the change in postretirement benefit obligations.
Debt issuance costs Debt Issuance Costs We defer costs directly associated with acquiring third-party financing. Debt issuance costs are deferred and amortized to interest expense using the effective interest method. Debt issuance costs related to our long-term debt are reflected as a direct deduction from the carrying amount of the debt. Please see Note 9, Borrowings, of the Notes to Consolidated Financial Statements.
Adoption of New Accounting Pronouncements Adoption of New Accounting Pronouncements On April 1, 2019, we adopted Accounting Standards Codification Topic 842, which require a lessee to recognize all leases with terms greater than 12 months on their balance sheet as a liability for its lease obligation, measured at the present value of lease payments not yet paid, and a corresponding asset representing its right to use the underlying asset over the lease term. The new leasing standard does not significantly change a lessee’s recognition, measurement and presentation of expenses and cash flows. Additionally, Topic 842 aligns key aspects of lessor accounting with the new revenue recognition guidance in Topic 606 (see   Note 23, Revenue Recognition) and expands disclosure of key information about leasing arrangements in an attempt to help financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases . We have determined portions of the vehicle rental contracts that convey the right to control the use of identified assets are within the scope of the accounting guidance contained in the new leasing standard. As described in Note 23, Revenue Recognition, the Company’s rental related revenues are accounted for under the revenue accounting standard Topic 606. Topic 842 requires leases to be classified as either operating or finance, with lease classification determined in a manner similar to the former lease guidance. The basic principle is that leases of all types convey the right to direct the use and obtain substantially all the economic benefits of an identified asset, meaning they create an asset and liability for lessees. Lessees classify leases as either finance leases (comparable to former capital leases) or operating leases. Costs for a finance lease are split between amortization and interest expense, with operating leases reporting a single lease expense. F- 16   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) Topic 842 substantially changed the accounting for sale-leasebacks going forward, where we are to assess if the contract qualifies as a sale under ASC 606. We have determined that our equipment sale-leasebacks do not qualify as a sale, as the buyer-lessors do not obtain control of the assets in our ongoing sale-leaseback arrangements. As a result, we expect future sale-leasebacks to be accounted for as a financial liability and the leased assets will be capitalized at cost. As all former sale-leasebacks have been accounted for as a sale, we did not reassess any former sale-leaseback transactions. We adopted the new leasing standard using the Effective Date Approach, which allows entities to only apply the new lease standard in the year of adoption. We elected the available practical expedients for existing or expired contracts of lessees and lessors wherein the Company is not required to reassess whether such contracts contain leases, the lease classification or the initial direct costs. Additionally, we elected as accounting policies to not recognize right of use assets or lease liabilities for short-term leases (i.e. those with a term of 12 months or less) and to combine lease and non-lease components in the contract for both lessee and lessor arrangements.   Adoption of this standard resulted in most of our operating lease commitments being recognized as operating lease liabilities and right-of-use (“ROU”) assets. Please see Note 18, Leases, of the Notes to Consolidated Financial Statements. On April 10, 2020, the FASB issued a question-and-answer document that allows entities to elect not evaluate whether a concession provided by a lessor to a lessee in response to COVID-19 is a lease modification. An entity that makes this election may then elect to apply the lease modification guidance to that relief or account for the concession as if it were contemplated in the existing contract. On April 1, 2019, the Company adopted ASU 2017-08, Receivables – Nonrefundable Fees and Other Cost (Subtopic 310-20), Premium Amortization on Purchased Callable Debt Securities. These amendments shorten the amortization period for certain callable debt securities held at a premium. Specifically, the amendments require the premium to be amortized to the earliest call date. The amendments do not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. The adoption of the standard did not have a material impact on our consolidated financial statements.
Recent Accounting Pronouncements Recent Accounting Pronouncements In June 2016, FASB issued ASU 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). This standard requires the measurement and recognition of expected credit losses held at amortized cost. This new standard requires the use of forward-looking information to estimate credit losses and requires credit losses for available for sale debt securities to be recorded through an allowance for credit losses rather than a reduction in the amortized cost basis. This update is effective for public companies for annual reporting periods beginning after December 15, 2019. In November 2019, the FASB released ASU 2019-11, Codification Improvements to Topic 326, Financial Instruments—Credit Losses, which clarified narrow issues within ASU 2016-13. Specifically, the four main clarifications include: expected recoveries for purchased financial assets with credit deterioration; transition relief for troubled debt restructurings; disclosures for accrued interest receivables; and financial assets backed by collateral maintenance provisions. The Company has completed the development of the implementation plan and is in the process of model development. The Company is evaluating whether ASU 2016-13 will have a material impact on the Company’s consolidated financial statements. In August 2018, the FASB adopted ASU 2018-12, Targeted Improvements to the Accounting for Long-Duration Contracts (“ASU 2018-12”). The amendments in this update require insurance companies to annually review and update the assumptions used for measuring the liability under long-duration contracts, such as life insurance, disability income, and annuities. The amendments are effective for fiscal years, and interim periods within those fiscal years, beginning after December 31, 2020. We are currently in the process of evaluating the impact of the adoption of this amendment on our financial statements; however, the adoption of ASU 2018-12 will impact the statements of operations because the effect of any update to the assumptions we used at the inception of the contracts will be recorded in net income. F- 17   amerco and consolidated subsidiaries notes to consolidated financial statements – (continued) In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820) - Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”), which modifies the disclosures on fair value measurements by removing the requirement to disclose the amount and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy and the policy for the timing of such transfers. ASU 2018-13 expands the disclosure requirements for Level 3 fair value measurements, primarily focused on changes in unrealized gains and losses included in other comprehensive income. ASU 2018-13 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The adoption of the standard is not expected to have a material impact on our consolidated financial statements. In August 2018, the FASB issued ASU 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General Subtopic 715-20 - Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans (“ASU 2018-14”), which amends ASC 715 to add, remove, and clarify disclosure requirements related to defined benefit pension and other postretirement plans. ASU 2018-14 is effective for fiscal years ending after December 15, 2020. We are currently evaluating the impact of this standard on our consolidated financial statements. In March 2020, FASB issued ASU 2020-04, Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”). This standard provides temporary optional expedients and exceptions to the US GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens of the expected market transition from the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates, such as the Secured Overnight Financing Rate. Entities can elect not to apply certain modification accounting requirements to contracts affected by what the guidance calls reference rate reform, if certain criteria are met. An entity that makes this election would not have to remeasure the contracts at the modification date or reassess a previous accounting determination. The guidance is effective upon issuance and generally can be applied through December 31, 2022. We are currently evaluating the impact of these standards on our consolidated financial statements. From time to time, new accounting pronouncements are issued by the FASB or the SEC that are adopted by us as of the specified effective date. Unless otherwise discussed, these ASUs entail technical corrections to existing guidance or affect guidance related to specialized industries or entities and therefore will have minimal, if any, impact on our financial position or results of operations upon adoption.
v3.20.1
Accounting Policies (Table Text Block)
 12 Months Ended
Mar. 31, 2020
Inventory Disclosure [Abstract]  
Inventories, net     March 31,     2020   2019     (In thousands) Truck and trailer parts and accessories (a) $ 88,138 $ 94,344 Hitches and towing components (b)   23,070   20,113 Moving supplies and propane (b)   11,824   10,356 Subtotal   123,032   124,813 Less: LIFO reserves   (18,886)   (18,987) Less: excess and obsolete reserves   (3,063)   (2,322) Total $ 101,083 $ 103,504           (a) Primarily held for internal usage, including equipment manufacturing and repair (b) Primarily held for retail sales        
v3.20.1
Reinsurance Recoverables and Trade Receivables, Net (Table Text Block)
 12 Months Ended
Mar. 31, 2020
Reinsurance Recoverables and Trade Receivables, Net [Abstract]  
Reinsurance Recoverables and Trade Receivables, Net     March 31,     2020   2019     (In thousands) Reinsurance recoverable $ 89,020 $ 99,615 Trade accounts receivable   59,394   90,786 Paid losses recoverable   624   2,333 Accrued investment income   25,744   25,142 Premiums and agents' balances   1,582   1,545 Independent dealer receivable   1,015   390 Other receivables   9,828   5,523     187,207   225,334 Less: Allowance for doubtful accounts   (535)   (549)   $ 186,672 $ 224,785
v3.20.1
Investments (Table Text Block)
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]    
Available-for-Sale Investments     Amortized Cost   Gross Unrealized Gains   Gross Unrealized Losses More than 12 Months   Gross Unrealized Losses Less than 12 Months   Estimated Market Value           (In thousands) U.S. treasury securities and government obligations $ 112,421 $ 7,959 $ (1) $ – $ 120,379 U.S. government agency mortgage-backed securities   88,449   759   (1)   (373)   88,834 Obligations of states and political subdivisions   287,643   20,664   (155)   –   308,152 Corporate securities   1,656,425   100,302   (919)   (812)   1,754,996 Mortgage-backed securities   187,784   6,011   (1)   (107)   193,687 Redeemable preferred stocks   1,493   72   –   –   1,565   $ 2,334,215 $ 135,767 $ (1,077) $ (1,292) $ 2,467,613     Amortized Cost   Gross Unrealized Gains   Gross Unrealized Losses More than 12 Months   Gross Unrealized Losses Less than 12 Months   Estimated Market Value           (In thousands) U.S. treasury securities and government obligations $ 136,010 $ 2,409 $ (2,104) $ (447) $ 135,868 U.S. government agency mortgage-backed securities   31,101   433   (146)   (19)   31,369 Obligations of states and political subdivisions   298,955   8,079   (233)   (905)   305,896 Corporate securities   1,613,199   14,777   (14,257)   (24,986)   1,588,733 Mortgage-backed securities   148,203   880   (285)   (903)   147,895 Redeemable preferred stocks   1,493   20   –   (45)   1,468   $ 2,228,961 $ 26,598 $ (17,025) $ (27,305) $ 2,211,229
Adjusted Cost and Estimated Market Value of Available-for-sale Investments     March 31, 2020   March 31, 2019     Amortized Cost   Estimated Market Value   Amortized Cost   Estimated Market Value     (In thousands) Due in one year or less $ 128,747 $ 129,420 $ 71,987 $ 71,954 Due after one year through five years   547,821   566,934   541,195   540,658 Due after five years through ten years   636,036   678,636   621,031   614,485 Due after ten years   832,334   897,371   845,052   834,769     2,144,938   2,272,361   2,079,265   2,061,866                   Mortgage backed securities   187,784   193,687   148,203   147,895 Redeemable preferred stocks   1,493   1,565   1,493   1,468   $ 2,334,215 $ 2,467,613 $ 2,228,961 $ 2,211,229  
Available for sale equity investments     March 31, 2020   March 31, 2019     Amortized Cost   Estimated Market Value   Amortized Cost   Estimated Market Value     (In thousands) Common stocks $ 9,775 $ 20,015 $ 10,123 $ 17,379 Non-redeemable preferred stocks   5,076   5,110   7,451   6,789   $ 14,851 $ 25,125 $ 17,574 $ 24,168  
Carrying Value of Other Investments     March 31,     2020   2019     (In thousands) Mortgage loans, net $ 262,688 $ 225,829 Short-term investments   6,995   5,546 Real estate   69,569   53,519 Policy loans   11,212   10,491 Other equity investments   9,909   5,351   $ 360,373 $ 300,736  
v3.20.1
Other Assets (Table Text Block)
 12 Months Ended
Mar. 31, 2020
Other Assets [Abstract]  
Other Assets     March 31,     2020   2019     (In thousands) Deposits (debt-related) $ 33,020 $ 30,408 Cash surrender value of life insurance policies   31,371   30,985 Deposits (real estate related)   7,565   16,961   $ 71,956 $ 78,354
v3.20.1
Net Investment and Interest Income (Table Text Block)
 12 Months Ended
Mar. 31, 2020
Table Text Block [Abstract]  
Net Investment and Interest Income     Years Ended March 31,     2020   2019   2018     (In thousands) Fixed maturities $ 107,434 $ 99,348 $ 84,476 Real estate   7,304   5,538   5,344 Insurance policy loans   974   1,305   1,212 Mortgage loans   17,164   16,674   17,783 Short-term, amounts held by ceding reinsurers, net and other investments   9,807   (7,429)   3,098 Investment income   142,683   115,436   111,913 Less: investment expenses   (4,854)   (4,502)   (4,766) Investment income - related party, net eliminations   –   –   3,326 Net investment and interest income $ 137,829 $ 110,934 $ 110,473
v3.20.1
Borrowings (Table Text Block)
 12 Months Ended
Mar. 31, 2020
Debt Instruments [Abstract]  
Long-Term Debt                   March 31,   2020 Rates (a)   Maturities   2020   2019                   (In thousands) Real estate loan (amortizing term)     2.36 %     2023 $ 92,913 $ 102,913 Senior mortgages 3.11 % 6.62 % 2021 - 2038   2,029,878   1,741,652 Real estate loans (revolving credit) 2.98 % 3.14 % 2022 - 2025   519,000   429,400 Fleet loans (amortizing term) 1.95 % 4.66 % 2020 - 2027   224,089   263,209 Fleet loans (revolving credit) 2.73 % 2.75 % 2022 - 2024   567,000   530,000 Finance/capital leases (rental equipment) 1.92 % 5.04 % 2020 - 2026   734,870   1,042,652 Finance liability (rental equipment) 2.63 % 4.22 % 2024 - 2027   398,834   – Other obligations 2.50 % 8.00 % 2020 - 2049   84,484   82,417 Notes, loans and finance/capital leases payable               $ 4,651,068 $ 4,192,243 Less: Debt issuance costs                 (29,777)   (28,920) Total notes, loans and finance/capital leases payable, net               $ 4,621,291 $ 4,163,323                         (a) Interest rate as of March 31, 2020, taking into account the effect of applicable hedging instruments        
Annual Maturities of Notes, Loans and Leases Payable     Years Ended March 31,     2021   2022   2023   2024   2025   Thereafter   Total     (In thousands) Notes, loans and finance/capital leases payable, secured $ 459,184 $ 510,933 $ 1,011,688 $ 755,025 $ 393,498 $ 1,520,740 $ 4,651,068
v3.20.1
Interest on Borrowings (Table Text Block)
 12 Months Ended
Mar. 31, 2020
Interest Expense, Borrowings [Abstract]  
Components of interest expense     Years Ended March 31,     2020   2019   2018     (In thousands) Interest expense $ 180,444 $ 150,609 $ 125,412 Capitalized interest   (23,517)   (12,733)   (6,466) Amortization of transaction costs   4,427   3,745   3,867 Interest expense resulting from cash flow hedges   (404)   824   3,893 Total interest expense   160,950   142,445   126,706
Interest rates and company borrowings     Revolving Credit Activity       Years Ended March 31,       2020   2019   2018       (In thousands, except interest rates)   Weighted average interest rate during the year   3.31 % 3.39 % 2.48 % Interest rate at year end   2.86 % 3.60 % 2.84 % Maximum amount outstanding during the year $ 1,086,000 $ 959,400 $ 538,000   Average amount outstanding during the year $ 1,002,081 $ 699,415 $ 517,997   Facility fees $ 193 $ 374 $ 410  
v3.20.1
Derivatives (Table Text Block)
 12 Months Ended
Mar. 31, 2020
Derivative Instrument Detail [Abstract]  
Derivative Fair Values Located in Accounts Payable and Accrued Expenses in the Balance Sheet           March 31, 2020   March 31, 2019     (In thousands) Interest rate contracts designated as hedging instruments         Assets $ – $ 139 Liabilities   8,214   – Notional amount (debt)   235,000   22,792
Effect of Interest Rate Contracts on the Statement of Operations     The Effect of Interest Rate     Contracts on the Statements of Operations     Years Ended March 31,     2020   2019   2018     (In thousands) (Gain) loss recognized in AOCI on interest rate contracts $ 8,356 $ (633) $ (4,445) (Gain) loss reclassified from AOCI into income $ (401) $ 789 $ 3,893
v3.20.1
Accumulated Other Comprehensive Income (Table Text Block)
 12 Months Ended
Mar. 31, 2020
Table Text Block [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]     Foreign Currency Translation   Unrealized Net Gain on Investments   Fair Market Value of Cash Flow Hedges   Postretirement Benefit Obligation Net Loss   Accumulated Other Comprehensive Income (Loss)           (In thousands) Balance as of March 31, 2019 $ (56,612) $ (7,259) $ 107 $ (2,934) $ (66,698) Foreign currency translation   9,377   –   –   –   9,377 Unrealized net gain on investments   –   97,943   –   –   97,943 Change in fair value of cash flow hedges   –   –   (6,301)   –   (6,301) Amounts reclassified into earnings on hedging activities   –   –   (2)   –   (2) Change in post retirement benefit obligaiton   –   –   –   333   333 Other comprehensive income (loss)   9,377   97,943   (6,303)   333   101,350 Balance as of March 31, 2020 $ (47,235) $ 90,684 $ (6,196) $ (2,601) $ 34,652
v3.20.1
Stockholders' Equity (Table Text Block)
 12 Months Ended
Mar. 31, 2020
Stockholders' Equity Note [Abstract]  
Common Stock Dividends Common Stock Dividends Declared Date   Per Share Amount   Record Date   Dividend Date               December 4, 2019 $ 0.50   December 19, 2019   January 6, 2020 August 22, 2019   0.50   September 9, 2019   September 23, 2019 March 6, 2019   0.50   March 21, 2019   April 4, 2019 December 5, 2018   0.50   December 20, 2018   January 7, 2019 August 23, 2018   0.50   September 10, 2018   September 24, 2018 June 6, 2018   0.50   June 21, 2018   July 5, 2018
v3.20.1
Provision for Taxes (Table Text Block)
 12 Months Ended
Mar. 31, 2020
Table Text Block [Abstract]  
Provision For Taxes     Years Ended March 31,     2020   2019   2018     (In thousands) Pretax earnings:             U.S. $ 372,687 $ 466,175 $ 628,901 Non-U.S.   5,437   11,354   8,712 Total pretax earnings $ 378,124 $ 477,529 $ 637,613               Current provision (benefit)             Federal $ (373,817) $ (6,114) $ 21,780 State   (9,600)   3,420   6,471 Non-U.S.   949   1,375   1,412     (382,468)   (1,319)   29,663 Deferred provision (benefit)             Federal   307,846   94,961   (199,415) State   9,728   11,311   15,479 Non-U.S.   970   1,719   1,303     318,544   107,991   (182,633)               Provision for income tax expense (benefit) $ (63,924) $ 106,672 $ (152,970)               Income taxes paid (net of income tax refunds received) $ 6,859 $ 4,255 $ 68,671
Schedule of Effective Income Tax Rate Reconciliation     Years Ended March 31,       2020   2019   2018       (in percentages)   Statutory federal income tax rate   21.00 % 21.00 % 31.55 % Increase (reduction) in rate resulting from:               Deferred tax liability revaluation   – % – % (58.25) % NOL tax rate benefit   (38.62) % – % – % State taxes, net of federal benefit   0.02 % 2.41 % 2.33 % Foreign rate differential   0.21 % 0.15 % – % Federal tax credits   (0.53) % (0.15) % (0.32) % Transition tax   – % (0.20) % 1.83 % Tax-exempt income   (0.17) % – % – % Dividend received deduction   (0.01) % (0.01) % (0.03) % Phase III tax   – % – % 0.63 % Other   1.19 % (0.86) % (1.73) % Actual tax expense (benefit) of operations   (16.91) % 22.34 % (23.99) %
Components of Deferred Tax Assets and Liabilities     March 31,     2020   2019 Deferred tax assets:   (In thousands) Net operating loss and credit carry forwards $ 25,973 $ 90,061 Accrued expenses   105,171   105,727 Policy benefit and losses, claims and loss expenses payable, net   20,189   16,515 Operating leases   22,353   – Total deferred tax assets $ 173,686 $ 212,303           Deferred tax liabilities:         Property, plant and equipment $ 1,198,198 $ 940,433 Operating leases   22,353   – Deferred policy acquisition costs   12,795   14,191 Unrealized gains   29,873   4,223 Other   4,010   4,426 Total deferred tax liabilities   1,267,229   963,273 Net deferred tax liability $ 1,093,543 $ 750,970
Reconciliation of Total Amounts of Unrecognized Tax Benefits     Unrecognized Tax Benefits     March 31,     2020   2019     (In thousands)           Unrecognized tax benefits beginning balance $ 37,201 $ 35,739 Revaluation based on change in after tax benefit   –   – Additions based on tax positions related to the current year   42   1,887 Reductions for tax positions of prior years   (7,606)   (46) Settlements   (5)   (379) Unrecognized tax benefits ending balance $ 29,632 $ 37,201
v3.20.1
Employee Benefit Plans (Table Text Block)
 12 Months Ended
Mar. 31, 2020
Table Text Block [Abstract]  
Summary Of Financing Arrangements for Leveraged ESOP Debt     Outstanding as of   Interest Payments Financing Date   March 31, 2020   2020   2019   2018     (In thousands) June, 1991 $ – $ – $ 1 $ 1 July, 2009   –   9   17   26 February, 2016   –   229   190   242
Shares Held by the ESOP Plan     Years Ended March 31,     2020   2019     (In thousands) Allocated shares   1,003   1,069 Unreleased shares - leveraged   –   16 Fair value of unreleased shares - leveraged $ – $ 6,019 Unreleased shares - non-leveraged   –   – Fair value of unreleased shares - non-leveraged $ – $ –
Components of Net Periodic Post Retirement Benefit Cost     Years Ended March 31,     2020   2019   2018     (In thousands) Service cost for benefits earned during the period $ 1,055 $ 1,108 $ 1,073 Other components of net periodic benefit costs:             Interest cost on accumulated postretirement benefit   964   943   869 Other components   90   70   58 Total other components of net periodic benefit costs   1,054   1,013   927 Net periodic postretirement benefit cost $ 2,109 $ 2,121 $ 2,000
Components of Post Retirement Benefit Liabilities     Years Ended March 31,     2020   2019     (In thousands) Beginning of year $ 25,817 $ 23,316 Service cost for benefits earned during the period   1,055   1,108 Interest cost on accumulated post retirement benefit   964   943 Net benefit payments and expense   (93)   (979) Actuarial (gain) loss   (240)   1,429 Accumulated postretirement benefit obligation   27,503   25,817           Current liabilities   1,151   1,037 Non-current liabilities   26,352   24,780           Total post retirement benefit liability recognized in statement of financial position   27,503   25,817 Components included in accumulated other comprehensive income (loss):         Unrecognized net loss   (3,447)   (3,890) Cumulative net periodic benefit cost (in excess of employer contribution) $ 24,056 $ 21,927
Discount Rate Assumptions for Accumulated Postretirement Benefit Obligations     Years Ended March 31,     2020 2019 2018     (In percentages)   Accumulated postretirement benefit obligation   3.37 % 3.83 % 3.98 %
Future Net Benefit Payments Expected for Post Employee Benefit Obligations     Future Net Benefit Payments     (In thousands) Year-ended:     2021 $ 1,151 2022   1,350 2023   1,547 2024   1,753 2025   1,965 2026 through 2029   11,581 Total $ 19,347
v3.20.1
Fair Value Measurements (Table Text Block)
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]    
Financial Instruments, Carrying and Estimated fair values     Fair Value Hierarchy Year Ended March 31, 2020   Carrying Value   Level 1   Level 2   Level 3   Total Estimated Fair Value     (In thousands) Assets                     Reinsurance recoverables and trade receivables, net $ 186,672 $ – $ – $ 186,672 $ 186,672 Mortgage loans, net   262,688   –   –   262,688   262,688 Other investments   97,685   –   –   97,685   97,685 Total $ 547,045 $ – $ – $ 547,045 $ 547,045                                             Liabilities                     Notes, loans and finance/capital leases payable $ 4,651,068 $ – $ 4,651,068 $ – $ 4,342,308 Total $ 4,651,068 $ – $ 4,651,068 $ – $ 4,342,308     Fair Value Hierarchy Year Ended March 31, 2019   Carrying Value   Level 1   Level 2   Level 3   Total Estimated Fair Value     (In thousands) Assets                     Reinsurance recoverables and trade receivables, net $ 224,785 $ – $ – $ 224,785 $ 224,785 Mortgage loans, net   225,829   –   –   225,829   225,829 Other investments   74,907   –   –   74,907   74,907 Total $ 525,521 $ – $ – $ 525,521 $ 525,521                                             Liabilities                     Notes, loans and finance/capital leases payable $ 4,192,243   – $ 4,192,243 $ – $ 4,192,243 Total $ 4,192,243 $ – $ 4,192,243 $ – $ 4,192,243
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis Year Ended March 31, 2020   Total   Level 1   Level 2   Level 3     (In thousands) Assets                 Short-term investments $ 369,279 $ 368,968 $ 311 $ – Fixed maturities - available for sale   2,466,048   7,156   2,458,731   161 Preferred stock   6,675   6,675   –   – Common stock   20,015   20,015   –   – Derivatives   5,944   5,944   –   – Total $ 2,867,961 $ 408,758 $ 2,459,042 $ 161                                     Liabilities                 Derivatives $ 8,214 $ – $ 8,214 $ – Total $ 8,214 $ – $ 8,214 $ – Year Ended March 31, 2019   Total   Level 1   Level 2   Level 3     (In thousands) Assets                 Short-term investments $ 463,847 $ 463,599 $ 248 $ – Fixed maturities - available for sale   2,209,761   7,327   2,202,213   221 Preferred stock   8,257   8,257   –   – Common stock   17,379   17,379   –   – Derivatives   1,607   1,468   139   – Total $ 2,700,851 $ 498,030 $ 2,202,600 $ 221                                     Liabilities                 Derivatives $ – $ – $ – $ – Total $ – $ – $ – $ –
v3.20.1
Reinsurance and Policy Benefits and Losses, Claims and Loss Expenses Payable (Table Text Block)
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Supplemental Schedule Of Reinsurance Premiums For Insurance Companies [Abstract]    
Supplemental Schedule Of Reinsurance Premiums For Insurance Companies [Table Text Block]     Direct Amount (a)   Ceded to Other Companies   Assumed from Other Companies   Net Amount (a)   Percentage of Amount Assumed to Net       (In thousands)   Year ended December 31, 2019                       Life insurance in force $ 957,280 $ 7 $ 441,563 $ 1,398,836   32 % Premiums earned:                       Life $ 53,289 $ 1 $ 5,629 $ 58,917   10 % Accident and health   66,863   226   1,563   68,200   2 % Annuity   65   –   794   859   92 % Property and casualty   69,126   –   15   69,141   – % Total $ 189,343 $ 227 $ 8,001 $ 197,117                               Year ended December 31, 2018                       Life insurance in force $ 941,822 $ 207 $ 548,152 $ 1,489,767   37 % Premiums earned:                       Life $ 51,691 $ (1) $ (69,616) $ (17,924)   388 % Accident and health   77,813   267   1,851   79,397   2 % Annuity   1,221   –   794   2,015   39 % Property and casualty   60,848   –   –   60,848   – % Total $ 191,573 $ 266 $ (66,971) $ 124,336                               Year ended December 31, 2017                       Life insurance in force $ 947,720 $ 248 $ 876,865 $ 1,824,337   48 % Premiums earned:                       Life $ 51,227 $ 4 $ 9,880 $ 61,103   16 % Accident and health   90,396   295   1,977   92,078   2 % Annuity   728   –   794   1,522   52 % Property and casualty   57,161   69   8   57,100   – % Total $ 199,512 $ 368 $ 12,659 $ 211,803        
Schedule of Effect of Reinsurance [Table Text Block]     December 31,     2019   2018     (In thousands) Unpaid losses and loss adjustment expense $ 209,127 $ 228,970 Reinsurance losses payable   1,214   988 Total $ 210,341 $ 229,958  
Schedule of Liability for Unpaid Claims and Claims Adjustment Expense [Table Text Block]     December 31,     2019   2018   2017     (In thousands) Balance at January 1 $ 228,970 $ 233,554 $ 244,400 Less: reinsurance recoverable   94,920   94,490   103,952 Net balance at January 1   134,050   139,064   140,448 Incurred related to:             Current year   22,137   19,579   15,749 Prior years   (9,535)   (5,365)   233 Total incurred   12,602   14,214   15,982 Paid related to:             Current year   7,366   8,838   8,969 Prior years   17,242   10,390   8,397 Total paid   24,608   19,228   17,366 Net balance at December 31   122,044   134,050   139,064 Plus: reinsurance recoverable   87,083   94,920   94,490 Balance at December 31 $ 209,127 $ 228,970 $ 233,554  
Shortduration Insurance Contracts Claims Development [Table Text Block] Cumulative Incurred Claims and Allocted Claims Adjustment Expenses, Net of Reinsurance                                 As of                                 December 31, 2019                                 Total of                                     Incurred-but-                                     Not-Reported                                     Liabilities Plus                                     Expected   Cumulative                                 Development   Number of Accident                               on Reported   Reported Year   2013   2014   2015   2016   2017   2018   2019   Claims   Claims         (In thousands, except claim counts)     2013 $ 9,861 $ 9,853 $ 9,914 $ 9,741 $ 9,576 $ 9,595 $ 9,594 $ –   7,652 2014       11,691   10,907   10,720   10,759   10,748   10,493   78   9,627 2015           12,214   12,459   12,460   12,464   11,087   –   10,652 2016               13,297   13,011   13,056   11,790   –   10,954 2017                   15,749   16,109   17,078   1,411   11,291 2018                       19,580   18,386   4,692   11,083 2019                           22,138   10,743   10,745                             Total   16,924     Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance         (In thousands) Accident                             Year   2013   2014   2015   2016   2017   2018   2019 2013 $ 5,227 $ 7,608 $ 8,718 $ 9,462 $ 9,576 $ 9,595 $ 9,594 2014       6,154   8,087   9,270   9,293   10,325   10,327 2015           7,509   9,601   9,730   10,343   11,087 2016               7,777   10,665   11,643   11,746 2017                   8,969   11,638   14,825 2018                       8,838   12,689 2019                           7,366                     Total   Total   77,634 All outstanding liabilities before 2013, net of reinsurance       99,113 Liabilities for claims and claim adjustment expenses, net of reinsurance       122,044
Shortduration Insurance Contracts Reconciliation Of Claims Development To Liability [Table Text Block]     December 31, 2019     (In thousands) Liabilities for unpaid Property and Casualty claims     and claim adjustment expenses, net of reinsurance $ 122,044       Total reinsurance recoverable on unpaid     Property and Casualty claims $ 87,083       Total gross liability for unpaid Property and Casualty     claims and claim adjustment expense $ 209,127  
Shortduration Insurance Contracts Schedule Of Historical Claims Duration [Table Text Block] Average Annual Percentage Payout of Incurred Claims by Age, net of Reinsurance     (In percentages)   Years   1   2   3   4   5   6   7   Property and Casualty Insurance   54.4 % 20.5 % 10.2 % 3.6 % 5.9 % 0.1 % – %  
v3.20.1
Leases (Table Text Block)
 12 Months Ended
Mar. 31, 2020
Leases [Abstract]  
Supplemental Balance Sheet Information Related to Leases     As of March 31, 2020     Finance   Operating   Total     (In thousands)               Buildings and improvements $ – $ 125,547 $ 125,547 Furniture and equipment   21,113   –   21,113 Rental trailers and other rental equipment   116,072   –   116,072 Rental trucks   1,738,081   –   1,738,081 Right-of-use assets, gross   1,875,266   125,547   2,000,813 Less: Accumulated depreciation   (794,913)   (18,916)   (813,829) Right-of-use assets, net $ 1,080,353 $ 106,631 $ 1,186,984
Summary of Weighted-average remaining lease terms and Discount rates     Finance   Operating   Weighted average remaining lease term (years)   4 Years   14 Years   Weighted average discount rate   3.5 % 4.6 %
Lease costs     Twelve Months Ended     March 31, 2020     (In thousands)       Operating lease costs $ 27,494       Finance lease cost:     Amortization of right-of-use assets $ 186,860 Interest on lease liabilities   30,901 Total finance lease cost $ 217,761
Maturities of Lease Liabilities     Finance leases   Operating leases Year ending March 31,   (In thousands)           2021 $ 218,424 $ 23,782 2022   164,190   22,001 2023   124,160   21,238 2024   106,156   20,616 2025   75,502   9,701 Thereafter   46,438   64,806 Total lease payments   734,870   162,144 Less: imputed interest   –   (55,701) Present value of lease liabilities $ 734,870 $ 106,443
Schedule of future minimum lease payments     Total     (In thousands) Year-ended March 31:     2020 $ 20,852 2021   18,495 2022   16,750 2023   16,317 2024   15,736 Thereafter   54,683 Total $ 142,833
v3.20.1
Related Party Transactions (Table Text Block)
 12 Months Ended
Mar. 31, 2020
Related Party Revenue [Abstract]  
Related Party Revenue     Years Ended March 31,     2020   2019   2018     (In thousands) U-Haul interest income revenue from Blackwater $ – $ – $ 3,326 U-Haul management fee revenue from Blackwater   24,014   23,986   23,577 U-Haul management fee revenue from Mercury   6,392   5,162   6,025   $ 30,406 $ 29,148 $ 32,928
Related Party Cost and Expense     Years Ended March 31,     2020   2019   2018     (In thousands) U-Haul lease expenses to Blackwater $ 2,631 $ 2,678 $ 2,684 U-Haul commission expenses to Blackwater   62,066   61,434   58,595   $ 64,697 $ 64,112 $ 61,279
Due from Related Party, Recap of Assets     March 31,     2020   2019     (In thousands) U-Haul receivable from Blackwater $ 25,293 $ 25,158 U-Haul receivable from Mercury   9,893   7,234 Other (a)   (402)   (1,503)   $ 34,784 $ 30,889
v3.20.1
Statutory Financial Information of Insurance Subsidiaries (Table Text Block)
 12 Months Ended
Dec. 31, 2019
Insurance [Abstract]  
Statutory Financial Information of Insurance Subsidiaries     Years Ended December 31,     2019   2018   2017     (In thousands) Repwest:             Audited statutory net income $ 28,614 $ 23,960 $ 16,328 Audited statutory capital and surplus   226,999   216,763   197,375 ARCOA:             Audited statutory net income   2,906   1,612   1,190 Audited statutory capital and surplus   12,851   9,390   7,991 Oxford:             Audited statutory net income   18,599   11,367   10,350 Audited statutory capital and surplus   223,264   203,723   195,931 CFLIC:             Audited statutory net income   8,043   8,735   8,062 Audited statutory capital and surplus   26,305   27,232   26,653 NAI:             Audited statutory net income   1,942   1,436   1,594 Audited statutory capital and surplus   13,371   12,817   12,674
v3.20.1
Financial Information by Geographic Area (Table Text Block)
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Geographic Areas, Long-Lived Assets [Abstract]      
Industry Segment and Geographic Area Data     United States   Canada   Consolidated     (All amounts are in thousands U.S. $'s) Fiscal Year Ended March 31, 2020             Total revenues $ 3,797,849 $ 181,019 $ 3,978,868 Depreciation and amortization, net of gains on disposal   652,110   15,414   667,524 Interest expense   157,595   3,355   160,950 Pretax earnings   372,687   5,437   378,124 Income tax expense (benefit)   (65,842)   1,918   (63,924) Identifiable assets   13,016,942   421,082   13,438,024     United States   Canada   Consolidated     (All amounts are in thousands U.S. $'s) Fiscal Year Ended March 31, 2019             Total revenues $ 3,597,285 $ 171,422 $ 3,768,707 Depreciation and amortization, net of gains on disposal   575,134   7,421   582,555 Interest expense   139,573   2,872   142,445 Pretax earnings   466,175   11,354   477,529 Income tax expense   103,578   3,094   106,672 Identifiable assets   11,526,876   364,837   11,891,713     United States   Canada   Consolidated     (All amounts are in thousands U.S. $'s) Fiscal Year Ended March 31, 2018             Total revenues $ 3,435,821 $ 165,293 $ 3,601,114 Depreciation and amortization, net of gains on disposal   363,826   8,521   372,347 Interest expense   123,777   2,929   126,706 Pretax earnings   628,901   8,712   637,613 Income tax expense (benefit)   (155,685)   2,715   (152,970) Identifiable assets   10,425,299   322,123   10,747,422
v3.20.1
Consolidating Financial Information by Industry Segment (Table Text Block)
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Table Text Block Supplement [Abstract]      
Consolidated Balance Sheet by Industry Segment Consolidating balance sheets by industry segment as of March   31, 2020 are as follows:     Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Eliminations     AMERCO Consolidated     (In thousands) Assets:                       Cash and cash equivalents $ 459,078 $ 4,794 $ 30,480 $ –   $ 494,352 Reinsurance recoverables and trade receivables, net   60,073   93,995   32,604   –     186,672 Inventories and parts, net   101,083   –   –   –     101,083 Prepaid expenses   562,904   –   –   –     562,904 Investments, fixed maturities and marketable equities   –   288,998   2,203,740   –     2,492,738 Investments, other   20,988   90,145   249,240   –     360,373 Deferred policy acquisition costs, net   –   –   103,118   –     103,118 Other assets   69,128   680   2,148   –     71,956 Right of use assets - financing, net   1,080,353   –   –   –     1,080,353 Right of use assets - operating   106,631   –   –   –     106,631 Related party assets   41,027   7,137   18,629   (32,009) (c)   34,784     2,501,265   485,749   2,639,959   (32,009)     5,594,964                         Investment in subsidiaries   668,498   –   –   (668,498) (b)   –                         Property, plant and equipment, at cost:                       Land   1,032,945   –   –   –     1,032,945 Buildings and improvements   4,663,461   –   –   –     4,663,461 Furniture and equipment   752,363   –   –   –     752,363 Rental trailers and other rental equipment   511,520   –   –   –     511,520 Rental trucks   3,595,933   –   –   –     3,595,933     10,556,222   –   –   –     10,556,222 Less:   Accumulated depreciation   (2,713,162)   –   –   –     (2,713,162) Total property, plant and equipment   7,843,060   –   –   –     7,843,060 Total assets $ 11,012,823 $ 485,749 $ 2,639,959 $ (700,507)   $ 13,438,024                         (a)   Balances as of December 31, 2019                       (b) Eliminate investment in subsidiaries                       (c) Eliminate intercompany receivables and payables                       F- 48   amerco and consolidated subsidiaries notes to condensed consolidated financial statements – (continued) Consolidating balance sheets by industry segment as of March   31, 2020 are as follows:     Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Eliminations     AMERCO Consolidated     (In thousands) Liabilities:                       Accounts payable and accrued expenses $ 545,685 $ 5,530 $ 3,138 $ –   $ 554,353 Notes, loans and finance/capital leases payable, net   4,609,844   –   11,447   –     4,621,291 Operating lease liability   106,443   –   –   –     106,443 Policy benefits and losses, claims and loss expenses payable   410,107   210,341   377,199   –     997,647 Liabilities from investment contracts   –   –   1,802,217   –     1,802,217 Other policyholders' funds and liabilities   –   5,751   4,439   –     10,190 Deferred income   31,620   –   –   –     31,620 Deferred income taxes, net   1,063,681   8,447   21,415   –     1,093,543 Related party liabilities   24,275   4,616   2,670   (31,561) (c)   – Total liabilities   6,791,655   234,685   2,222,525   (31,561)     9,217,304                         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   454,029   91,120   26,271   (117,601) (b)   453,819 Accumulated other comprehensive income (loss)   35,100   12,581   78,550   (91,579) (b)   34,652 Retained earnings   4,399,192   144,062   310,113   (453,965) (b)   4,399,402 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   –   –   –   –     – Total stockholders' equity   4,221,168   251,064   417,434   (668,946)     4,220,720 Total liabilities and stockholders' equity $ 11,012,823 $ 485,749 $ 2,639,959 $ (700,507)   $ 13,438,024                         (a)   Balances as of December 31, 2019                       (b) Eliminate investment in subsidiaries                       (c) Eliminate intercompany receivables and payables                       Consolidating balance sheets by industry segment as of March 31, 2019 are as follows:     Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Eliminations     AMERCO Consolidated     (In thousands) Assets:                       Cash and cash equivalents $ 643,918 $ 5,757 $ 24,026 $ –   $ 673,701 Reinsurance recoverables and trade receivables, net   90,832   102,120   31,833   –     224,785 Inventories and parts, net   103,504   –   –   –     103,504 Prepaid expenses   174,100   –   –   –     174,100 Investments, fixed maturities and marketable equities   –   279,641   1,955,756   –     2,235,397 Investments, other   23,013   74,679   203,044   –     300,736 Deferred policy acquisition costs, net   –   –   136,276   –     136,276 Other assets   72,768   2,456   3,130   –     78,354 Related party assets   35,997   6,639   16,466   (28,213) (c)   30,889     1,144,132   471,292   2,370,531   (28,213)     3,957,742                         Investment in subsidiaries   534,157   –   –   (534,157) (b)   –                         Property, plant and equipment, at cost:                       Land   976,454   –   –   –     976,454 Buildings and improvements   4,003,726   –   –   –     4,003,726 Furniture and equipment   689,780   –   –   –     689,780 Rental trailers and other rental equipment   590,039   –   –   –     590,039 Rental trucks   4,762,028   –   –   –     4,762,028     11,022,027   –   –   –     11,022,027 Less:   Accumulated depreciation   (3,088,056)   –   –   –     (3,088,056) Total property, plant and equipment   7,933,971   –   –   –     7,933,971 Total assets $ 9,612,260 $ 471,292 $ 2,370,531 $ (562,370)   $ 11,891,713                         (a)   Balances as of December 31, 2018                       (b) Eliminate investment in subsidiaries                       (c) Eliminate intercompany receivables and payables                       F- 50   amerco and consolidated subsidiaries notes to condensed consolidated financial statements – (continued) Consolidating balance sheets by industry segment as of March 31, 2019 are as follows:     Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Eliminations     AMERCO Consolidated     (In thousands) Liabilities:                       Accounts payable and accrued expenses $ 548,099 $ 2,844 $ 5,930 $ –   $ 556,873 Notes, loans and leases payable, net   4,163,323   –   –   –     4,163,323 Policy benefits and losses, claims and loss expenses payable   407,934   229,958   373,291   –     1,011,183 Liabilities from investment contracts   –   –   1,666,742   –     1,666,742 Other policyholders' funds and liabilities   –   5,259   9,788   –     15,047 Deferred income   35,186   –   –   –     35,186 Deferred income taxes, net   741,644   6,961   2,365   –     750,970 Related party liabilities   25,446   3,836   692   (29,974) (c)   – Total liabilities   5,921,632   248,858   2,058,808   (29,974)     8,199,324                         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   453,536   91,120   26,271   (117,601) (b)   453,326 Accumulated other comprehensive income (loss)   (68,459)   (3,721)   (5,300)   10,782 (b)   (66,698) Retained earnings   3,976,752   131,734   288,252   (419,776) (b)   3,976,962 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   (4,048)   –   –   –     (4,048) Total stockholders' equity $ 3,690,628   222,434   311,723   (532,396)     3,692,389 Total liabilities and stockholders' equity   9,612,260 $ 471,292 $ 2,370,531 $ (562,370)   $ 11,891,713                         (a)   Balances as of December 31, 2018                       (b) Eliminate investment in subsidiaries                       (c) Eliminate intercompany receivables and payables                        
Consolidated Statement of Operations by Industry Segment Consolidating statements of operations by industry segment for period ending March 31, 2020 are as follows:     Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Eliminations     AMERCO Consolidated     (In thousands) Revenues:                       Self-moving equipment rentals $ 2,696,516 $ – $ – $ (4,103) (c) $ 2,692,413 Self-storage revenues   418,741   –   –   –     418,741 Self-moving & self-storage products & service sales   265,091   –   –   –     265,091 Property management fees   30,406   –   –   –     30,406 Life insurance premiums   –   –   127,976   –     127,976 Property and casualty insurance premiums   –   69,141   –   (3,088) (c)   66,053 Net investment and interest income   10,593   19,923   109,018   (1,705) (b)   137,829 Other revenue   236,419   –   4,470   (530) (b)   240,359 Total revenues   3,657,766   89,064   241,464   (9,426)     3,978,868                         Costs and expenses:                       Operating expenses   2,069,655   33,770   21,425   (7,702) (b,c)   2,117,148 Commission expenses   288,332   –   –   –     288,332 Cost of sales   164,018   –   –   –     164,018 Benefits and losses   –   12,410   162,426   –     174,836 Amortization of deferred policy acquisition costs   –   –   31,219   –     31,219 Lease expense   27,494   –   –   (612) (b)   26,882 Depreciation, net gains on disposals   637,063   –   –   –     637,063 Net gains on disposal of real estate   (758)   –   –   –     (758) Total costs and expenses   3,185,804   46,180   215,070   (8,314)     3,438,740                         Earnings from operations before equity in earnings of subsidiaries   471,962   42,884   26,394   (1,112)     540,128                         Equity in earnings of subsidiaries   55,789   –   –   (55,789) (d)   –                         Earnings from operations   527,751   42,884   26,394   (56,901)     540,128 Other components of net periodic benefit costs   (1,054)   –   –   –     (1,054) Interest expense   (162,062)   –   –   1,112 (b)   (160,950) Pretax earnings   364,635   42,884   26,394   (55,789)     378,124 Income tax benefit (expense)   77,413   (8,956)   (4,533)   –     63,924 Earnings available to common shareholders $ 442,048 $ 33,928 $ 21,861 $ (55,789)   $ 442,048                         (a)   Balances for the year ended December 31, 2019                       (b) Eliminate intercompany lease / interest income                       (c) Eliminate intercompany premiums                       (d) Eliminate equity in earnings of subsidiaries                       Consolidating statements of operations by industry segment for period ending March 31, 2019 are as follows:     Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Eliminations     AMERCO Consolidated     (In thousands) Revenues:                       Self-moving equipment rentals $ 2,656,327 $ – $ – $ (2,830) (c) $ 2,653,497 Self-storage revenues   367,276   –   –   –     367,276 Self-moving & self-storage products & service sales   264,146   –   –   –     264,146 Property management fees   29,148   –   –   –     29,148 Life insurance premiums   –   –   63,488   –     63,488 Property and casualty insurance premiums   –   63,488   –   (2,635) (c)   60,853 Net investment and interest income   13,857   12,349   86,395   (1,667) (b)   110,934 Other revenue   215,055   –   4,831   (521) (b)   219,365 Total revenues   3,545,809   75,837   154,714   (7,653)     3,768,707                         Costs and expenses:                       Operating expenses   1,938,317   34,218   14,613   (5,968) (b,c)   1,981,180 Commission expenses   288,408   –   –   –     288,408 Cost of sales   162,142   –   –   –     162,142 Benefits and losses   –   14,213   86,064   –     100,277 Amortization of deferred policy acquisition costs   –   –   28,556   –     28,556 Lease expense   33,702   –   –   (544) (b)   33,158 Depreciation, net gains on disposals   554,043   –   –   –     554,043 Net gains on disposal of real estate   (44)   –   –   –     (44) Total costs and expenses   2,976,568   48,431   129,233   (6,512)     3,147,720                         Earnings from operations before equity in earnings of subsidiaries   569,241   27,406   25,481   (1,141)     620,987                         Equity in earnings of subsidiaries   41,811   –   –   (41,811) (d)   –                         Earnings from operations   611,052   27,406   25,481   (42,952)     620,987 Other components of net periodic benefit costs   (1,013)   –   –   –     (1,013) Interest expense   (143,586)   –   –   1,141 (b)   (142,445) Pretax earnings   466,453   27,406   25,481   (41,811)     477,529 Income tax expense   (95,596)   (5,698)   (5,378)   –     (106,672) Earnings available to common shareholders $ 370,857 $ 21,708 $ 20,103 $ (41,811)   $ 370,857                         (a)   Balances for the year ended December 31, 2018                       (b) Eliminate intercompany lease/interest income                       (c) Eliminate intercompany premiums                       (d) Eliminate equity in earnings of subsidiaries                       Consolidating statements of operations by industry segment for period ending March 31, 2018 are as follows:     Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Eliminations     AMERCO Consolidated     (In thousands) Revenues:                       Self-moving equipment rentals $ 2,483,956 $ – $ – $ (4,214) (c) $ 2,479,742 Self-storage revenues   323,903   –   –   –     323,903 Self-moving & self-storage products & service sales   261,557   –   –   –     261,557 Property management fees   29,602   –   –   –     29,602 Life insurance premiums   –   –   154,703   –     154,703 Property and casualty insurance premiums   –   58,800   –   (1,700) (c)   57,100 Net investment and interest income   12,232   15,771   84,158   (1,688) (b)   110,473 Other revenue   179,417   –   5,001   (384) (b)   184,034 Total revenues   3,290,667   74,571   243,862   (7,986)     3,601,114                         Costs and expenses:                       Operating expenses   1,758,697   32,710   22,061   (6,412) (b,c)   1,807,056 Commission expenses   276,705   –   –   –     276,705 Cost of sales   160,489   –   –   –     160,489 Benefits and losses   –   15,983   169,328   –     185,311 Amortization of deferred policy acquisition costs   –   –   24,514   –     24,514 Lease expense   34,243   –   –   (283) (b)   33,960 Depreciation, net gains on disposals   543,247   –   –   –     543,247 Net (gains) losses on disposal of real estate   (195,414)   –   –   –     (195,414) Total costs and expenses   2,577,967   48,693   215,903   (6,695)     2,835,868                         Earnings from operations before equity in earnings of subsidiaries   712,700   25,878   27,959   (1,291)     765,246                         Equity in earnings of subsidiaries   46,990   –   –   (46,990) (d)   –                         Earnings from operations   759,690   25,878   27,959   (48,281)     765,246 Other components of net periodic benefit costs   (927)   –   –   –     (927) Interest expense   (127,997)   –   –   1,291 (b)   (126,706) Pretax earnings   630,766   25,878   27,959   (46,990)     637,613 Income tax benefit (expense)   159,817   (2,989)   (3,858)   –     152,970 Earnings available to common shareholders $ 790,583 $ 22,889 $ 24,101 $ (46,990)   $ 790,583                         (a)   Balances for the year ended December 31, 2017                       (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 year ended March 31, 2020, are as follows:     Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Elimination     AMERCO Consolidated     (In thousands) Cash flows from operating activities:                       Net earnings $ 442,048 $ 33,928 $ 21,861 $ (55,789)   $ 442,048 Earnings from consolidated subsidiaries   (55,789)   –   –   55,789     – Adjustments to reconcile net earnings to cash provided by operations:                       Depreciation   664,120   –   –   –     664,120 Amortization of deferred policy acquisition costs   –   –   31,219   –     31,219 Amortization of premiums and accretion of discounts related to investments, net   –   1,469   11,848   –     13,317 Amortization of debt issuance costs   4,426   –   –   –     4,426 Interest credited to policyholders   –   –   51,857   –     51,857 Change in allowance for losses on trade receivables   (14)   –   –   –     (14) Change in allowance for inventories and parts reserve   640   –   –   –     640 Net gains on disposal of personal property   (27,057)   –   –   –     (27,057) Net gains on disposal of real estate   (758)   –   –   –     (758) Net gains on sales of investments   –   (355)   (13,241)   –     (13,596) Net gains on equity securities   –   (3,783)   –   –     (3,783) Deferred income taxes   323,980   (2,847)   (3,240)   –     317,893 Net change in other operating assets and liabilities:                       Reinsurance recoverables and trade receivables   30,771   8,127   (769)   –     38,129 Inventories and parts   1,776   –   –   –     1,776 Prepaid expenses   (391,120)   –   –   –     (391,120) Capitalization of deferred policy acquisition costs   –   –   (24,447)   –     (24,447) Other assets   (3,099)   2,098   (294)   –     (1,295) Related party assets   (5,106)   (539)   –   –     (5,645) Accounts payable and accrued expenses   (4,428)   2,688   (2,790)   –     (4,530) Policy benefits and losses, claims and loss expenses payable   3,092   (19,618)   3,908   –     (12,618) Other policyholders' funds and liabilities   –   491   (5,348)   –     (4,857) Deferred income   (1,818)   –   –   –     (1,818) Related party liabilities   (1,170)   819   1,977   –     1,626 Net cash provided by operating activities   980,494   22,478   72,541   –     1,075,513                         Cash flows from investing activities:                       Escrow deposits   6,617   –   –   –     6,617 Purchases of:                       Property, plant and equipment   (2,309,406)   –   –   –     (2,309,406) Short term investments   –   (60,590)   (636)   –     (61,226) Fixed maturities investments   –   (13,001)   (366,348)   –     (379,349) Equity securities   –   –   (83)   –     (83) Preferred stock   –   –   –   –     – Real estate   –   (328)   (3,958)   –     (4,286) Mortgage loans   –   (18,050)   (43,966)   –     (62,016) Proceeds from sales and paydowns of:                       Property, plant and equipment   687,375   –   –   –     687,375 Short term investments   –   59,056   –   –     59,056 Fixed maturities investments   –   25,386   243,250   –     268,636 Equity securities   –   185   –   –     185 Preferred stock   –   1,375   1,000   –     2,375 Real estate   311   –   –   –     311 Mortgage loans   –   4,126   21,036   –     25,162 Net cash used by investing activities   (1,615,103)   (1,841)   (149,705)   –     (1,766,649)     (page 1 of 2) (a) Balance for the period ended December 31, 2019                       F- 55   amerco and consolidated subsidiaries notes to condensed consolidated financial statements – (continued) Continuation of consolidating cash flow statements by industry segment for the year ended March 31, 2020, are as follows:     Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Elimination     AMERCO Consolidated     (In thousands) Cash flows from financing activities:                       Borrowings from credit facilities   1,118,912   –   2,500   –     1,121,412 Principal repayments on credit facilities   (347,486)   –   (2,500)   –     (349,986) Payment of debt issuance costs   (5,332)   –   –   –     (5,332) Capital lease payments   (307,782)   –   –   –     (307,782) Employee stock ownership plan shares   (206)   –   –   –     (206) Securitization deposits   –   –   –   –     – Common stock dividends paid   (29,404)   –   –   –     (29,404) Net contribution from (to) related party   21,600   (21,600)   –   –     – Investment contract deposits   –   –   234,640   –     234,640 Investment contract withdrawals   –   –   (151,022)   –     (151,022) Net cash provided (used) by financing activities   450,302   (21,600)   83,618   –     512,320                         Effects of exchange rate on cash   (533)   –   –   –     (533)                         Decrease in cash and cash equivalents   (184,840)   (963)   6,454   –     (179,349) Cash and cash equivalents at beginning of period   643,918   5,757   24,026   –     673,701 Cash and cash equivalents at end of period $ 459,078 $ 4,794 $ 30,480 $ –   $ 494,352     (page 2 of 2) (a) Balance for the period ended December 31, 2019                       Consolidating cash flow statements by industry segment for the year ended March 31, 2019, are as follows:     Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Elimination     AMERCO Consolidated     (In thousands) Cash flows from operating activities:                       Net earnings $ 370,857 $ 21,708 $ 20,103 $ (41,811)   $ 370,857 Earnings from consolidated subsidiaries   (41,811)   –   –   41,811     – Adjustments to reconcile net earnings to cash provided by operations:                       Depreciation   581,025   –   –   –     581,025 Amortization of deferred policy acquisition costs   –   –   28,556   –     28,556 Amortization of premiums and accretion of discounts related to investments, net   –   1,361   11,746   –     13,107 Amortization of debt issuance costs   3,923   –   –   –     3,923 Interest credited to policyholders   –   –   35,387   –     35,387 Change in allowance for losses on trade receivables   57   –   (5)   –     52 Change in allowance for inventories and parts reserve   (146)   –   –   –     (146) Net gains on disposal of personal property   (26,982)   –   –   –     (26,982) Net gains on disposal of real estate   (44)   –   –   –     (44) Net (gains) losses on sales of investments   –   (2,971)   308   –     (2,663) Net losses on equity securities   –   5,739   –   –     5,739 Deferred income taxes   112,434   830   (6,453)   –     106,811 Net change in other operating assets and liabilities:                       Reinsurance recoverables and trade receivables   (26,160)   (2,438)   (2,767)   –     (31,365) Inventories and parts   (13,492)   –   –   –     (13,492) Prepaid expenses   (8,620)   –   –   –     (8,620) Capitalization of deferred policy acquisition costs   –   –   (25,957)   –     (25,957) Other assets   159,126   (1,449)   (525)   –     157,152 Related party assets   3,857   339   (2)   –     4,194 Accounts payable and accrued expenses   6,454   257   3,552   –     10,263 Policy benefits and losses, claims and loss expenses payable   (159,793)   (4,400)   (71,927)   –     (236,120) Other policyholders' funds and liabilities   –   (117)   5,124   –     5,007 Deferred income   966   –   –   –     966 Related party liabilities   (2,711)   944   (300)   –     (2,067) Net cash provided (used) by operating activities   958,940   19,803   (3,160)   –     975,583                         Cash flows from investing activities:                       Escrow deposits   4,299   –   –   –     4,299 Purchases of:                       Property, plant and equipment   (1,869,968)   –   –   –     (1,869,968) Short term investments   –   (53,878)   (170)   –     (54,048) Fixed maturities investments   –   (33,775)   (506,270)   –     (540,045) Equity securities   –   –   (957)   –     (957) Preferred stock   –   –   –   –     – Real estate   (236)   (187)   (212)   –     (635) Mortgage loans   –   (20,031)   (43,580)   –     (63,611) Proceeds from sales and paydowns of:                       Property, plant and equipment   606,271   –   –   –     606,271 Short term investments   –   58,767   7,270   –     66,037 Fixed maturities investments   –   12,305   111,246   –     123,551 Equity securities   –   8,608   –   –     8,608 Preferred stock   –   1,625   –   –     1,625 Real estate   –   –   –   –     – Mortgage loans   –   5,881   141,856   –     147,737 Net cash used by investing activities   (1,259,634)   (20,685)   (290,817)   –     (1,571,136)     (page 1 of 2) (a) Balance for the period ended December 31, 2018                       F- 57   amerco and consolidated subsidiaries notes to condensed consolidated financial statements – (continued) Continuation of consolidating cash flow statements by industry segment for the year ended March 31, 2019, are as follows:     Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Elimination     AMERCO Consolidated     (In thousands) Cash flows from financing activities:                       Borrowings from credit facilities   897,311   –   –   –     897,311 Principal repayments on credit facilities   (299,748)   –   –   –     (299,748) Payment of debt issuance costs   (7,243)   –   –   –     (7,243) Capital lease payments   (303,431)   –   –   –     (303,431) Employee stock ownership plan shares   (418)   –   –   –     (418) Common stock dividends paid   (39,179)   –   –   –     (39,179) Investment contract deposits   –   –   400,123   –     400,123 Investment contract withdrawals   –   –   (132,833)   –     (132,833) Net cash provided by financing activities   247,292   –   267,290   –     514,582                         Effects of exchange rate on cash   (4,716)   –   –   –     (4,716)                         Increase (decrease) in cash and cash equivalents   (58,118)   (882)   (26,687)   –     (85,687) Cash and cash equivalents at beginning of period   702,036   6,639   50,713   –     759,388 Cash and cash equivalents at end of period $ 643,918 $ 5,757 $ 24,026 $ –   $ 673,701     (page 2 of 2) (a) Balance for the period ended December 31, 2018                       Consolidating cash flow statements by industry segment for the year ended March 31, 2018 are as follows:       Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Elimination     AMERCO Consolidated     (In thousands) Cash flows from operating activities:                       Net earnings $ 790,583 $ 22,889 $ 24,101 $ (46,990)   $ 790,583 Earnings from consolidated subsidiaries   (46,990)   –   –   46,990     – Adjustments to reconcile net earnings to cash provided by operations:                       Depreciation   555,069   –   –   –     555,069 Amortization of deferred policy acquisition costs   –   –   24,514   –     24,514 Amortization of premiums and accretion of discounts related to investments, net   –   1,356   11,434   –     12,790 Amortization of debt issuance costs   3,868   –   –   –     3,868 Interest credited to policyholders   –   –   32,302   –     32,302 Change in allowance for losses on trade receivables   (31)   –   (89)   –     (120) Change in allowance for inventories and parts reserve   5,065   –   –   –     5,065 Net gains on disposal of personal property   (11,822)   –   –   –     (11,822) Net gains on disposal of real estate   (195,414)   –   –   –     (195,414) Net gains on sales of investments   –   (1,703)   (4,566)   –     (6,269) Deferred income taxes   (182,358)   (6,596)   (4,480)   –     (193,434) Net change in other operating assets and liabilities:                       Reinsurance recoverables and trade receivables   (23,444)   8,075   40   –     (15,329) Inventories and parts   (12,384)   –   –   –     (12,384) Prepaid expenses   (40,765)   –   –   –     (40,765) Capitalization of deferred policy acquisition costs   –   –   (27,350)   –     (27,350) Other assets   (167,579)   1,810   (199)   –     (165,968) Related party assets   48,855   4,553   –   –     53,408 Accounts payable and accrued expenses   (36,384)   648   (1,244)   –     (36,980) Policy benefits and losses, claims and loss expenses payable   168,687   (10,623)   3,057   –     161,121 Other policyholders' funds and liabilities   –   1,194   (1,303)   –     (109) Deferred income   5,524   –   –   –     5,524 Related party liabilities   (1,884)   318   950   –     (616) Net cash provided by operating activities   858,596   21,921   57,167   –     937,684                         Cash flows from investing activities:                       Escrow deposits   31,362   –   –   –     31,362 Purchases of:                       Property, plant and equipment   (1,363,745)   –   –   –     (1,363,745) Short term investments   –   (63,556)   –   –     (63,556) Fixed maturities investments   –   (51,273)   (339,627)   –     (390,900) Equity securities   –   –   (662)   –     (662) Preferred stock   –   (1,000)   –   –     (1,000) Real estate   (1,365)   (440)   (134)   –     (1,939) Mortgage loans   –   (14,409)   (69,098)   –     (83,507) Proceeds from sales and paydowns of:                       Property, plant and equipment   699,803   –   –   –     699,803 Short term investments   –   61,133   6,657   –     67,790 Fixed maturities investments   –   21,670   141,799   –     163,469 Preferred stock   –   4,208   –   –     4,208 Real estate   2,783   –   –   –     2,783 Mortgage loans   –   15,660   21,930   –     37,590 Net cash used by investing activities   (631,162)   (28,007)   (239,135)   –     (898,304)     (page 1 of 2) (a) Balance for the period ended December 31, 2017                       F- 59   amerco and consolidated subsidiaries notes to condensed consolidated financial statements – (continued) Continuation of consolidating cash flow statements by industry segment for the year ended March 31, 2018 are as follows:     Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Elimination     AMERCO Consolidated     (In thousands) Cash flows from financing activities:                       Borrowings from credit facilities   498,464   –   –   –     498,464 Principal repayments on credit facilities   (356,451)   –   –   –     (356,451) Payment of debt issuance costs   (5,111)   –   –   –     (5,111) Capital lease payments   (296,363)   –   –   –     (296,363) Employee stock ownership plan shares   (11,640)   –   –   –     (11,640) Securitization deposits   (2,180)   –   –   –     (2,180) Common stock dividends paid   (29,380)   –   –   –     (29,380) Investment contract deposits   –   –   401,814   –     401,814 Investment contract withdrawals   –   –   (182,549)   –     (182,549) Net cash provided (used) by financing activities   (202,661)   –   219,265   –     16,604                         Effects of exchange rate on cash   5,598   –   –   –     5,598                         Increase (decrease) in cash and cash equivalents   30,371   (6,086)   37,297   –     61,582 Cash and cash equivalents at beginning of period   671,665   12,725   13,416   –     697,806 Cash and cash equivalents at end of period $ 702,036 $ 6,639 $ 50,713 $ –   $ 759,388     (page 2 of 2) (a) Balance for the period ended December 31, 2017                      
v3.20.1
Disaggregation of revenue (Table Text Block)
 12 Months Ended
Mar. 31, 2020
Revenue From Contract With Customer [Abstract]  
Lease schedule over next five years and thereafter     Year Ended March 31,     2021   2022   2023   2024   2025   Thereafter           (In thousands)                           Self-moving equipment rentals $ 2,139 $ – $ – $ – $ – $ – Property lease revenues   20,715   16,927   13,250   9,834   7,102   58,379 Total $ 22,854 $ 16,927 $ 13,250 $ 9,834 $ 7,102 $ 58,379
Disaggregation of revenue     Years Ended March 31,     2020   2019   2018           (In thousands)               Revenues recognized over time $ 147,565 $ 2,814,732 $ 2,617,990 Revenues recognized at a point in time   309,804   305,408   301,152 Total revenues recognized under ASC 606   457,369   3,120,140   2,919,142               Revenues recognized under ASC 842 or 840   3,182,902   406,070   353,924 Revenues recognized under ASC 944   200,768   131,563   217,575 Revenues recognized under ASC 320   137,829   110,934   110,473 Total revenues $ 3,978,868 $ 3,768,707 $ 3,601,114
v3.20.1
Principles of Consolidation (Narratives) (Details)
 12 Months Ended
Mar. 31, 2020
Disclosure of Entity's Reportable Segments [Abstract]  
Number of reportable segments 3
v3.20.1
Accounting Policies (Narratives) (Details) - USD ($)
 12 Months Ended
Mar. 31, 2020
Dec. 31, 2019
Mar. 31, 2019
Dec. 31, 2018
Mar. 31, 2018
Dec. 31, 2017
Cash, Insured and Uninsured [Abstract]            
Cash, FDIC Insured Amount $ 250,000          
Cash, CDIC insured amount $ 100,000          
LIFO Method Related Items [Abstract]            
Percentage of LIFO inventory 96.00%          
Inventory, LIFO reserve $ 18,886,000   $ 18,987,000      
Effect of LIFO inventory liquidation on income 100,000          
Disposition of Property, Plant and Equipment            
Net amount of (gains) losses netted against depreciation expense 27,100,000   27,000,000.0   $ 11,800,000  
Additional operating expenses $ 27,700,000   21,000,000.0      
Schedule of rental trucks depreciation:            
Percentage reduction for year one, depreciation 16.00%          
Percentage reduction for year two, depreciation 13.00%          
Percentage reduction for year three, depreciation 11.00%          
Percentage reduction for year four, depreciation 9.00%          
Percentage reduction for year five, depreciation 8.00%          
Percentage reduction for year six, depreciation 7.00%          
Percentage reduction for year seven, depreciation 6.00%          
Salvage value percentage under the old declining balance method 15.00%          
Salvage value percentage 5.70%          
Real Estate Companies Disclosures [Abstract]            
Carrying value of surplus real estate $ 69,600,000   53,500,000      
Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]            
Self insurance reserve 410,100,000   407,900,000      
Accrued insurance, noncurrent 15,700,000   15,600,000      
Marketing and Advertising Expense [Abstract]            
Advertising expense 13,700,000   10,600,000   $ 8,100,000  
Policyholder Benefits and Claims Incurred [Abstract]            
Deferred sales inducements, net   $ 16,800,000   $ 19,100,000    
Deferred sales inducements, amortization expense   $ 5,500,000   $ 3,700,000   $ 3,700,000
Adoption of New Accounting Pronounements            
Operating lease commitment, asset 1,080,353,000   $ 0      
Operating lease commitment, liability $ 106,443,000          
v3.20.1
Accounting Policies (Inventories, net) (Details) - USD ($)
$ in Thousands
Mar. 31, 2020
Mar. 31, 2019
Inventory, Net [Abstract]    
Truck and trailer parts and accessories (a) $ 88,138 $ 94,344
Hitches and towing components (b) 23,070 20,113
Moving supplies and propane (b) 11,824 10,356
Subtotal 123,032 124,813
Less: LIFO reserves (18,886) (18,987)
Less: excess and obsolete reserves (3,063) (2,322)
Total $ 101,083 $ 103,504
v3.20.1
Earnings Per Share (Narratives) (Details) - shares
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]    
Employee stock ownership plan, unreleased shares 11,949 17,581
v3.20.1
Reinsurance Recoverables and Trade Receivables, Net (Details) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Mar. 31, 2019
Reinsurance Recoverables and Trade Receivables, Net [Abstract]      
Reinsurance recoverable $ 89,020 $ 87,083 $ 99,615
Trade accounts receivable 59,394   90,786
Paid losses recoverable 624   2,333
Accrued investment income 25,744   25,142
Premiums and agents' balances 1,582   1,545
Independent dealer receivables 1,015   390
Other receivables 9,828   5,523
Reinsurance recoverables and trade receivables, gross 187,207   225,334
Less: Allowance for doubtful accounts (535)   (549)
Reinsurance recoverables and trade receivables, net $ 186,672   $ 224,785
v3.20.1
Investments (Narratives) (Details) - USD ($)
$ in Millions
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]      
Assets held by insurance regulators $ 30.8    
Fair value of sold available-for-sale securities 264.5 $ 114.8 $ 163.7
Available-for-sale securities, gross realized gains 6.4 2.0 5.4
Available-for-sale securities, gross realized losses 0.2 $ 0.2 $ 0.3
Mortgages [Member]      
Investments, Debt and Equity Securities [Abstract]      
Other-than-temporary impairments $ 0.5    
Mortgages [Member] | Minimum [Member]      
Real Estate [Abstract]      
Mortgage loan interest rate 4.10%    
Debt instrument, maturity year 2020    
Mortgages [Member] | Maximum [Member]      
Real Estate [Abstract]      
Mortgage loan interest rate 8.20%    
Debt instrument, maturity year 2036    
v3.20.1
Investments (Available-for-sale investments) (Details) - USD ($)
$ in Thousands
Mar. 31, 2020
Mar. 31, 2019
Available-for-sale securities, investments:    
Amortized cost $ 2,334,215 $ 2,228,961
Gross unrealized gains 135,767 26,598
Gross unrealized losses more than 12 months (1,077) (17,025)
Gross unrealized losses less than 12 months (1,292) (27,305)
Estimated market value 2,467,613 2,211,229
U.S. treasury securities and government obligations [Member]    
Available-for-sale securities, investments:    
Amortized cost 112,421 136,010
Gross unrealized gains 7,959 2,409
Gross unrealized losses more than 12 months (1) (2,104)
Gross unrealized losses less than 12 months 0 (447)
Estimated market value 120,379 135,868
U.S. government agency mortgage-backed securities [Member]    
Available-for-sale securities, investments:    
Amortized cost 88,449 31,101
Gross unrealized gains 759 433
Gross unrealized losses more than 12 months (1) (146)
Gross unrealized losses less than 12 months (373) (19)
Estimated market value 88,834 31,369
Obligations of states and political subdivisions [Member]    
Available-for-sale securities, investments:    
Amortized cost 287,643 298,955
Gross unrealized gains 20,664 8,079
Gross unrealized losses more than 12 months (155) (233)
Gross unrealized losses less than 12 months 0 (905)
Estimated market value 308,152 305,896
Corporate securities [Member]    
Available-for-sale securities, investments:    
Amortized cost 1,656,425 1,613,199
Gross unrealized gains 100,302 14,777
Gross unrealized losses more than 12 months (919) (14,257)
Gross unrealized losses less than 12 months (812) (24,986)
Estimated market value 1,754,996 1,588,733
Mortgage-backed securities [Member]    
Available-for-sale securities, investments:    
Amortized cost 187,784 148,203
Gross unrealized gains 6,011 880
Gross unrealized losses more than 12 months (1) (285)
Gross unrealized losses less than 12 months (107) (903)
Estimated market value 193,687 147,895
Redeemable Preferred Stocks [Member]    
Available-for-sale securities, investments:    
Amortized cost 1,493 1,493
Gross unrealized gains 72 20
Gross unrealized losses more than 12 months 0 0
Gross unrealized losses less than 12 months 0 (45)
Estimated market value $ 1,565 $ 1,468
v3.20.1
Investments (Adjusted cost and estimated market value of available-for-sale investments) (Details) - USD ($)
$ in Thousands
Mar. 31, 2020
Mar. 31, 2019
Available-for-sale securities, amortized cost:    
Amortized cost $ 2,334,215 $ 2,228,961
Available-for-sale securities, fair value:    
Estimated market value 2,467,613 2,211,229
Us Government Corporate Securities [Member]    
Available-for-sale securities, amortized cost:    
Due in one year or less 128,747 71,987
Due after one year through five years 547,821 541,195
Due after five years through ten years 636,036 621,031
Due after ten years 832,334 845,052
Amortized cost 2,144,938 2,079,265
Available-for-sale securities, fair value:    
Due in one year or less 129,420 71,954
Due after one year through five years 566,934 540,658
Due after five years through ten years 678,636 614,485
Due after ten years 897,371 834,769
Estimated market value 2,272,361 2,061,866
Mortgage backed securities [Member]    
Available-for-sale securities, amortized cost:    
Amortized cost 187,784 148,203
Available-for-sale securities, fair value:    
Estimated market value 193,687 147,895
Redeemable Preferred Stocks [Member]    
Available-for-sale securities, amortized cost:    
Amortized cost 1,493 1,493
Available-for-sale securities, fair value:    
Estimated market value $ 1,565 $ 1,468
v3.20.1
Investments (Available for sale equity investments) (Details) - USD ($)
$ in Thousands
Mar. 31, 2020
Mar. 31, 2019
Marketable Securities [Abstract]    
Amortized cost, equity investments $ 14,851 $ 17,574
Estimated market value, equity investments 25,125 24,168
Common stocks [Member]    
Marketable Securities [Abstract]    
Amortized cost, equity investments 9,775 10,123
Estimated market value, equity investments 20,015 17,379
Non-redeemable preferred stocks [Member]    
Marketable Securities [Abstract]    
Amortized cost, equity investments 5,076 7,451
Estimated market value, equity investments $ 5,110 $ 6,789
v3.20.1
Investments (Carrying value of other investments) (Details) - USD ($)
$ in Thousands
Mar. 31, 2020
Mar. 31, 2019
Investments [Abstract]    
Mortgage loans, net $ 262,688 $ 225,829
Short-term investments 6,995 5,546
Real estate 69,569 53,519
Policy loans 11,212 10,491
Other equity investments 9,909 5,351
Total investments $ 360,373 $ 300,736
v3.20.1
Other Assets (Details) - USD ($)
$ in Thousands
Mar. 31, 2020
Mar. 31, 2019
Other Assets [Abstract]    
Deposits (debt-related) $ 33,020 $ 30,408
Cash surrender value of life insurance policies 31,371 30,985
Deposits (real estate related) 7,565 16,961
Other assets, total $ 71,956 $ 78,354
v3.20.1
Net Investment and Interest Income (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Net Investment Income [Line Items]      
Investment income $ 142,683 $ 115,436 $ 111,913
Less: investment expenses (4,854) (4,502) (4,766)
Investment income, related party 0 0 3,326
Net investment and interest income 137,829 110,934 110,473
Fixed Maturities [Member]      
Net Investment Income [Line Items]      
Investment income 107,434 99,348 84,476
Real Estate [Member]      
Net Investment Income [Line Items]      
Investment income 7,304 5,538 5,344
Insurance policy loans [Member]      
Net Investment Income [Line Items]      
Investment income 974 1,305 1,212
Mortgage loans [Member]      
Net Investment Income [Line Items]      
Investment income 17,164 16,674 17,783
Short-term, amounts held by ceding reinsurers, net and other investments [Member]      
Net Investment Income [Line Items]      
Investment income $ 9,807 $ (7,429) $ 3,098
v3.20.1
Borrowings (Narratives) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2020
Dec. 31, 2019
Mar. 31, 2019
Debt instruments, face, payment, and remaining balance amount:      
Notes, loans and leases payable $ 4,621,291   $ 4,163,323
Debt instruments, issuance and maturity dates:      
Remaining Lease Term Fianance Lease Weighted Average 4 Years    
Real estate loan (amortizing term) [Member] | Minimum [Member]      
Debt instruments, issuance and maturity dates:      
Debt instrument, maturity year 2020    
Real estate loan (amortizing term) [Member] | Maximum [Member]      
Debt instruments, issuance and maturity dates:      
Debt instrument, maturity year 2036    
Real estate loans (revolving credit) [Member] | Amerco [Member]      
Debt instruments, face, payment, and remaining balance amount:      
Line of credit facility, maximum borrowing capacity $ 385,000    
Real estate loans (revolving credit) [Member] | Amerco [Member] | Minimum [Member]      
Debt instruments, interest rate, effective percentage:      
LIBOR 1.58%    
Applicable margin interest rate 1.25%    
Debt instruments, issuance and maturity dates:      
Debt instrument, maturity year 2022    
Real estate loans (revolving credit) [Member] | Amerco [Member] | Maximum [Member]      
Debt instruments, interest rate, effective percentage:      
LIBOR 1.60%    
Applicable margin interest rate 1.40%    
Debt instruments, issuance and maturity dates:      
Debt instrument, maturity year 2025    
Real estate loans two (revolving credit) [Member] | Amerco [Member]      
Debt instruments, interest rate, effective percentage:      
LIBOR 1.60%    
Applicable margin interest rate 1.38%    
Sum of LIBOR and margin, maximum rate 2.98%    
Applicable margin, per loan agreement, maximum rate 2.25%    
Unused capacity fee 0.30%    
Debt instruments, face, payment, and remaining balance amount:      
Line of credit facility, maximum borrowing capacity $ 300,000    
Line of credit facility, remaining borrowing capacity 150,000    
Notes, loans and leases payable 150,000    
Amount held at fixed interest rate $ 200,000    
Rental Truck (securitizations) [Member] | Amerco [Member] | Minimum [Member]      
Debt instruments, interest rate, stated percentage:      
Debt instrument, interest rate, stated percentage 1.92%    
Rental Truck (securitizations) [Member] | Amerco [Member] | Maximum [Member]      
Debt instruments, interest rate, stated percentage:      
Debt instrument, interest rate, stated percentage 5.04%    
Capital Lease Obligations [Member] | Amerco [Member] | Minimum [Member]      
Debt instruments, interest rate, stated percentage:      
Debt instrument, interest rate, stated percentage 2.63%    
Capital Lease Obligations [Member] | Amerco [Member] | Maximum [Member]      
Debt instruments, interest rate, stated percentage:      
Debt instrument, interest rate, stated percentage 4.22%    
Amerco Real Estate Subsidiaries and Uhaul Company of Florida [Member] | Real estate loan (amortizing term) [Member]      
Debt instruments, interest rate, effective percentage:      
LIBOR 0.86%    
Applicable margin interest rate 1.50%    
Sum of LIBOR and margin, maximum rate 2.36%    
Various Subsidiaries of Amerco Real Estate and Uhaul Intl [Member] | Senior mortgages [Member] | Minimum [Member]      
Debt instruments, interest rate, stated percentage:      
Debt instrument, interest rate, stated percentage 3.11%    
Various Subsidiaries of Amerco Real Estate and Uhaul Intl [Member] | Senior mortgages [Member] | Maximum [Member]      
Debt instruments, interest rate, stated percentage:      
Debt instrument, interest rate, stated percentage 6.62%    
Uhaul Intl and Subsidiaries [Member] | Rental Truck (amortizing loans) First Loan [Member] | Amerco [Member] | Minimum [Member]      
Debt instruments, interest rate, stated percentage:      
Debt instrument, interest rate, stated percentage 1.95%    
Uhaul Intl and Subsidiaries [Member] | Rental Truck (amortizing loans) First Loan [Member] | Amerco [Member] | Maximum [Member]      
Debt instruments, interest rate, stated percentage:      
Debt instrument, interest rate, stated percentage 4.66%    
Uhaul Intl and Subsidiaries [Member] | Rental Truck Revolvers [Member]      
Debt instruments, interest rate, effective percentage:      
Applicable margin interest rate 1.15%    
Debt instruments, face, payment, and remaining balance amount:      
Line of credit facility, maximum borrowing capacity $ 590,000    
Uhaul Intl and Subsidiaries [Member] | Rental Truck Revolvers [Member] | Minimum [Member]      
Debt instruments, interest rate, effective percentage:      
LIBOR 1.58%    
Uhaul Intl and Subsidiaries [Member] | Rental Truck Revolvers [Member] | Maximum [Member]      
Debt instruments, interest rate, effective percentage:      
LIBOR 1.60%    
Amerco, Us Bank, National Association, Trustee [Member] | Other Obligations [Member] | Amerco [Member]      
Debt instruments, face, payment, and remaining balance amount:      
Notes, loans and leases payable $ 87,300    
Subsidiary holdings of parent company debt $ 2,800    
Amerco, Us Bank, National Association, Trustee [Member] | Other Obligations [Member] | Amerco [Member] | Minimum [Member]      
Debt instruments, interest rate, stated percentage:      
Debt instrument, interest rate, stated percentage 2.50%    
Debt instruments, issuance and maturity dates:      
Debt instrument, maturity year 2020    
Amerco, Us Bank, National Association, Trustee [Member] | Other Obligations [Member] | Amerco [Member] | Maximum [Member]      
Debt instruments, interest rate, stated percentage:      
Debt instrument, interest rate, stated percentage 8.00%    
Debt instruments, issuance and maturity dates:      
Debt instrument, maturity year 2049    
Life Insurance [Member] | FHLB [Member]      
Federal Home Loan Bank, Advances, Activity for the year [Abstract]      
Deposit amount   $ 60,000  
Available for sale equity securities, noncurrent   117,900  
Available for sale equity securities pledged as collateral   $ 67,600  
Life Insurance [Member] | FHLB [Member] | Minimum [Member]      
Federal Home Loan Bank, Advances, Activity for the year [Abstract]      
Deposit interest rate   1.72%  
Life Insurance [Member] | FHLB [Member] | Maximum [Member]      
Federal Home Loan Bank, Advances, Activity for the year [Abstract]      
Deposit interest rate   2.95%  
v3.20.1
Borrowings (Long-term debt borrowings) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Debt instrument, maturities:    
Notes, loans and leases payable, gross   $ 4,192,243
Less: Debt issuance costs $ (29,777) (28,920)
Notes, loans and leases payable, net $ 4,621,291 4,163,323
Real estate loan (amortizing term) [Member]    
Debt instruments, interest rate, stated percentage:    
Debt instrument, interest rate, stated percentage 2.36%  
Debt instrument, maturities:    
Debt instrument, maturity year range, end 2023  
Notes, loans and leases payable, gross $ 92,913 102,913
Real estate loan (amortizing term) [Member] | Minimum [Member]    
Debt instrument, maturities:    
Debt instrument, maturity year 2020  
Real estate loan (amortizing term) [Member] | Maximum [Member]    
Debt instrument, maturities:    
Debt instrument, maturity year 2036  
Senior mortgages [Member]    
Debt instrument, maturities:    
Debt instrument, maturity year range, start 2021  
Debt instrument, maturity year range, end 2038  
Notes, loans and leases payable, gross $ 2,029,878 1,741,652
Senior mortgages [Member] | Minimum [Member]    
Debt instruments, interest rate, stated percentage:    
Debt instrument, interest rate, stated percentage 3.11%  
Senior mortgages [Member] | Maximum [Member]    
Debt instruments, interest rate, stated percentage:    
Debt instrument, interest rate, stated percentage 6.62%  
Real estate loans (revolving credit) [Member]    
Debt instrument, maturities:    
Debt instrument, maturity year range, start 2022  
Debt instrument, maturity year range, end 2025  
Notes, loans and leases payable, gross $ 519,000 429,400
Real estate loans (revolving credit) [Member] | Minimum [Member]    
Debt instruments, interest rate, stated percentage:    
Debt instrument, interest rate, stated percentage 2.98%  
Real estate loans (revolving credit) [Member] | Maximum [Member]    
Debt instruments, interest rate, stated percentage:    
Debt instrument, interest rate, stated percentage 3.14%  
Fleet loans (amortizing) [Member]    
Debt instrument, maturities:    
Debt instrument, maturity year range, start 2020  
Debt instrument, maturity year range, end 2027  
Notes, loans and leases payable, gross $ 224,089 263,209
Fleet loans (amortizing) [Member] | Minimum [Member]    
Debt instruments, interest rate, stated percentage:    
Debt instrument, interest rate, stated percentage 1.95%  
Fleet loans (amortizing) [Member] | Maximum [Member]    
Debt instruments, interest rate, stated percentage:    
Debt instrument, interest rate, stated percentage 4.66%  
Fleet loans (securitization) [Member]    
Debt instrument, maturities:    
Debt instrument, maturity year range, start 2022  
Debt instrument, maturity year range, end 2024  
Notes, loans and leases payable, gross $ 567,000 530,000
Fleet loans (securitization) [Member] | Minimum [Member]    
Debt instruments, interest rate, stated percentage:    
Debt instrument, interest rate, stated percentage 2.73%  
Fleet loans (securitization) [Member] | Maximum [Member]    
Debt instruments, interest rate, stated percentage:    
Debt instrument, interest rate, stated percentage 2.75%  
Fleet Loans (revolving credit) [Member]    
Debt instrument, maturities:    
Debt instrument, maturity year range, start 2020  
Debt instrument, maturity year range, end 2026  
Notes, loans and leases payable, gross $ 734,870 1,042,652
Fleet Loans (revolving credit) [Member] | Minimum [Member]    
Debt instruments, interest rate, stated percentage:    
Debt instrument, interest rate, stated percentage 1.92%  
Fleet Loans (revolving credit) [Member] | Maximum [Member]    
Debt instruments, interest rate, stated percentage:    
Debt instrument, interest rate, stated percentage 5.04%  
Capital leases (rental equipment) [Member]    
Debt instrument, maturities:    
Debt instrument, maturity year range, start 2024  
Debt instrument, maturity year range, end 2027  
Notes, loans and leases payable, gross $ 398,834 0
Capital leases (rental equipment) [Member] | Minimum [Member]    
Debt instruments, interest rate, stated percentage:    
Debt instrument, interest rate, stated percentage 2.63%  
Capital leases (rental equipment) [Member] | Maximum [Member]    
Debt instruments, interest rate, stated percentage:    
Debt instrument, interest rate, stated percentage 4.22%  
Other Obligations [Member]    
Debt instrument, maturities:    
Debt instrument, maturity year range, start 2020  
Debt instrument, maturity year range, end 2049  
Notes, loans and leases payable, gross $ 84,484 $ 82,417
Other Obligations [Member] | Minimum [Member]    
Debt instruments, interest rate, stated percentage:    
Debt instrument, interest rate, stated percentage 2.50%  
Other Obligations [Member] | Maximum [Member]    
Debt instruments, interest rate, stated percentage:    
Debt instrument, interest rate, stated percentage 8.00%  
v3.20.1
Borrowings (Annual maturities of Notes, Loans and Leases Payable) (Details)
$ in Thousands
Mar. 31, 2020
USD ($)
Long-term debt, by Maturity:  
2020 $ 459,184
2021 510,933
2022 1,011,688
2023 755,025
2024 393,498
Thereafter 1,520,740
Total $ 4,651,068
v3.20.1
Interest on Borrowings (Narratives) (Details) - USD ($)
$ in Millions
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Net Cash Provided by (Used in) Financing Activities, Continuing Operations [Abstract]      
Interest paid in cash including payments related to derivative contracts $ 168.1 $ 149.8 $ 129.3
v3.20.1
Interest on Borrowings (Components of interest expense) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Interest expense, borrowings:      
Interest expense $ 180,444 $ 150,609 $ 125,412
Capitalized interest (23,517) (12,733) (6,466)
Amortization of transaction costs 4,427 3,745 3,867
Interest expense resulting from derivatives $ (404) $ 824 $ 3,893
v3.20.1
Interest on Borrowings (Interest Rates and Company Borrowings) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Interest and debt expense:      
Weighted average interest rate during the year 3.31% 3.39% 2.48%
Interest rate at year end 2.86% 3.60% 2.84%
Maximum amount outstanding during the year $ 1,086,000 $ 959,400 $ 538,000
Average amount outstanding during the year 1,002,081 699,415 517,997
Facility fees $ 193 $ 374 $ 410
v3.20.1
Derivatives (Narratives) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]      
Change in fair value of cash flow hedges, net of tax     $ 3,082
Notional amount of operating lease $ 400    
Loss reclassified from AOCI into income (effective portion) (401) $ 789 $ 3,893
Reclassify net losses on interest rate contracts from AOCI to earnings over the next twelve months 400    
Derivative hedge market value 5,900 1,500  
Derivative Notional Amount $ 246,800 $ 284,000  
v3.20.1
Derivatives (Interest rate contracts designated as hedging instruments) (Details) - USD ($)
$ in Thousands
Mar. 31, 2020
Mar. 31, 2019
Interest Rate Fair Value Hedges [Abstract]    
Assets $ 0 $ 139
Liabilities (8,214) 0
Notional amount (debt) $ 235,000 $ 22,792
v3.20.1
Derivatives (Effect of interest rate contracts on statement of operations) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Effect of Interest rate Contracts [Abstract]      
Loss recognized in income on interest rate contracts $ (404) $ 824 $ 3,893
(Gain) recognized in AOCI on interest rate contracts (effective portion) (8,356) 633 4,445
Loss reclassified from AOCI into income (effective portion) $ (401) $ 789 $ 3,893
v3.20.1
Accumulated Other Comprehensive Income Loss (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Accumulated Other Comprehensive Income (Loss) Components, Net of Tax [Roll Forward]      
Balance as of March 31, 2019 $ (66,698)    
Foreign currency translation 9,377 $ (1,759) $ 14,652
Unrealized net loss on investments 97,943   20,104
Change in fair value of cash flow hedges     3,082
Amounts reclassified into earnings on hedging activities (401) 789 3,893
Change in postretirement benfit obligations 333 (1,025) 35
Other comprehensive income (loss) 101,350 (62,075) 37,873
Balance as of March 31, 2020 34,652 (66,698)  
Foreign Currency Translation      
Accumulated Other Comprehensive Income (Loss) Components, Net of Tax [Roll Forward]      
Balance as of March 31, 2019 (56,612)    
Foreign currency translation 9,377    
Unrealized net loss on investments 0    
Change in fair value of cash flow hedges 0    
Amounts reclassified into earnings on hedging activities 0    
Change in postretirement benfit obligations 0    
Other comprehensive income (loss) 9,377    
Balance as of March 31, 2020 (47,235) (56,612)  
Unrealized Gain (Loss) on Investments      
Accumulated Other Comprehensive Income (Loss) Components, Net of Tax [Roll Forward]      
Balance as of March 31, 2019 (7,259)    
Foreign currency translation 0    
Unrealized net loss on investments 97,943    
Change in fair value of cash flow hedges 0    
Amounts reclassified into earnings on hedging activities 0    
Change in postretirement benfit obligations 0    
Other comprehensive income (loss) 97,943    
Balance as of March 31, 2020 90,684 (7,259)  
Fair Market Value of Cash Flow Hedges      
Accumulated Other Comprehensive Income (Loss) Components, Net of Tax [Roll Forward]      
Balance as of March 31, 2019 107    
Foreign currency translation 0    
Unrealized net loss on investments 0    
Change in fair value of cash flow hedges (6,301)    
Amounts reclassified into earnings on hedging activities (2)    
Change in postretirement benfit obligations 0    
Other comprehensive income (loss) (6,303)    
Balance as of March 31, 2020 (6,196) 107  
Postretirement Benefit Obligation Gain (Loss)      
Accumulated Other Comprehensive Income (Loss) Components, Net of Tax [Roll Forward]      
Balance as of March 31, 2019 (2,934)    
Foreign currency translation 0 0 0
Unrealized net loss on investments 0 0 0
Change in fair value of cash flow hedges 0 0 0
Amounts reclassified into earnings on hedging activities 0    
Change in postretirement benfit obligations   0 0
Other comprehensive income (loss) 333    
Balance as of March 31, 2020 (2,601) (2,934)  
Accumulated Other Comprehensive Income (Loss)      
Accumulated Other Comprehensive Income (Loss) Components, Net of Tax [Roll Forward]      
Balance as of March 31, 2019 (66,698)    
Foreign currency translation 9,377 (1,759) 14,652
Unrealized net loss on investments 97,943 (50,044) 20,104
Change in fair value of cash flow hedges   477 3,082
Amounts reclassified into earnings on hedging activities (2)    
Change in postretirement benfit obligations 333 (1,025) $ 35
Other comprehensive income (loss) 101,350    
Balance as of March 31, 2020 $ 34,652 $ (66,698)  
v3.20.1
Stockholders' Equity (Narratives) (Details) - $ / shares
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Dividends declared one [Member]    
Dividends Declared    
Dividends payable, date declared Dec. 04, 2019  
Dividend paid, amount per share $ 0.50  
Dividends payable, date of record Dec. 19, 2019  
Dividends payable, date to be paid Jan. 06, 2020  
Dividends declared two [Member]    
Dividends Declared    
Dividends payable, date declared Aug. 22, 2019  
Dividend paid, amount per share $ 0.50  
Dividends payable, date of record Sep. 09, 2019  
Dividends payable, date to be paid Sep. 23, 2019  
Dividends declared three [Member]    
Dividends Declared    
Dividends payable, date declared Mar. 06, 2019  
Dividend paid, amount per share $ 0.50  
Dividends payable, date of record Mar. 21, 2019  
Dividends payable, date to be paid Apr. 04, 2019  
Dividends declared four [Member]    
Dividends Declared    
Dividends payable, date declared   Dec. 05, 2018
Dividend paid, amount per share   $ 0.50
Dividends payable, date of record   Dec. 20, 2018
Dividends payable, date to be paid   Jan. 07, 2019
Dividends declared five [Member]    
Dividends Declared    
Dividends payable, date declared   Aug. 23, 2018
Dividend paid, amount per share   $ 0.50
Dividends payable, date of record   Sep. 10, 2018
Dividends payable, date to be paid   Sep. 24, 2018
Dividends declared six [Member]    
Dividends Declared    
Dividends payable, date declared   Jun. 06, 2018
Dividend paid, amount per share   $ 0.50
Dividends payable, date of record   Jun. 21, 2018
Dividends payable, date to be paid   Jul. 05, 2018
v3.20.1
Provision for Taxes (Narratives) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2018
Mar. 31, 2019
Components of Deferred Tax Assets and Liabilities [Abstract]      
NOL and credit carryforwards, federal amount $ 146,000    
Federal statutory rate, blended rate for fiscal year 31.55%    
Provisional benefit amount $ 356,600    
Deferred tax assets, effect of Tax Cuts and Jobs Act, tax expense (benefit) 371,500    
Reclassified amount from accumulated other comprehensive income to retained earnings 8,700 $ 0  
Provisional tax expense for foreign tax credits 10,700    
Phase three tax, increase in income tax expense 4,200    
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued [Abstract]      
Unrecognized tax benefits, income tax penalties and interest accrued 12,800   $ 9,500
Unrecognized tax benefits, income tax penalties and interest expense 3,300    
Amerco [Member]      
Components of Deferred Tax Assets and Liabilities [Abstract]      
NOL and credit carryfowards, state amount $ 337,300   $ 172,300
v3.20.1
Provision for Taxes (Earnings before taxes and provision for taxes) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Pretax earnings:      
U.S. $ 372,687 $ 466,175 $ 628,901
Non-U.S. 5,437 11,354 8,712
Total pretax earnings 378,124 477,529 637,613
Current provision (benefit)      
Federal (373,817) (6,114) 21,780
State (9,600) 3,420 6,471
Non-U.S. 949 1,375 1,412
Current provision (benefit), total (382,468) (1,319) 29,663
Deferred provision (benefit)      
Federal 307,846 94,961 (199,415)
State 9,728 11,311 15,479
Non-U.S. 970 1,719 1,303
Deferred provision (benefit), total 318,544 $ 107,991 $ (182,633)
Income taxes paid (net of income tax refunds) $ 6,859    
v3.20.1
Provision for Taxes (Effective income tax rate reconciliation) (Details)
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Effective Income Tax Rate Reconciliation, Percent [Abstract]      
Statutory federal income tax rate 21.00% 21.00% 31.55%
Increase (Reduction) in Rate Resulting from [Abstract]      
Deferred tax liability revaluation 0.00% 0.00% (58.25%)
NOL tax rate benefit (38.62%) 0.00% 0.00%
State taxes, net of federal benefit 0.02% 2.41% 2.33%
Foreign rate differential 0.21% 0.15% 0.00%
Federal tax credits 0.53% 0.15% 0.32%
Transition tax 0.00% (0.20%) 1.83%
Tax exempt income (0.17%) 0.00% 0.00%
Dividends received deduction 0.01% 0.01% 0.03%
Phase III Tax 0.00% 0.00% 0.63%
Other 1.19% (0.86%) (1.73%)
Actual tax expense of operations (16.91%) 22.34% (23.99%)
v3.20.1
Provision for Taxes (Significant components of deferred tax assets and liabilities) (Details) - USD ($)
$ in Thousands
Mar. 31, 2020
Mar. 31, 2019
Deferred tax assets:    
Net operating loss and credit carry forwards $ 25,973 $ 90,061
Accrued expenses 105,171 105,727
Policy benefits and losses, claims and loss expenses payable, net 20,189 16,515
Operating leases, assets 22,353 0
Total deferred tax assets 173,686 212,303
Deferred tax liabilities:    
Property, plant and equipment 1,198,198 940,433
Operating leases, liabilities 22,353 0
Deferred policy acquisition costs 12,795 14,191
Unrealized gains 29,873 4,223
Other 4,010 4,426
Total deferred tax liabilities 1,267,229 963,273
Net deferred tax liability $ 1,093,543 $ 750,970
v3.20.1
Provision for Taxes (Reconciliation of total amounts of unrecognized tax benefits roll forward) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]    
Unrecognized tax benefits beginning balance $ 37,201 $ 35,739
Revaluation based on change in after tax benefit 0 0
Additions based on tax positions related to the current year 42 1,887
Reductions for tax positions of prior years 7,606 46
Settlements 5 379
Unrecognized tax benefits ending balance $ 29,632 $ 37,201
v3.20.1
Employee Benefit Plans (Narratives) (Details) - USD ($)
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Compensation of related costs, Share-based Payments [Abstract]      
Employee stock ownership plan (ESOP), compensation expense $ 10,300,000 $ 11,300,000 $ 11,400,000
Employee stock ownership plan (ESOP), cash contributions to ESOP 5,600,000 1,000,000.0 1,000,000.0
Cash contributions to ESOP non leveraged 4,000,000.0 $ 5,200,000 $ 11,000,000.0
Unallocated common stock dividend, debt repayment $ 0.0    
Defined Benefit Plan, Assumed Health Care Cost Trend Rates [Abstract]      
Defined benefit plan, health care cost trend rate assumed for next fiscal year 6.50% 6.90%  
Defined benefit plan, ultimate health care cost trend rate 4.50% 4.50%  
Defined benefit plan, effect of one percentage point increase on accumulated postretirement benefit obligation $ 246    
Defined benefit plan, effect of one percentage point increase on service and interest cost components 25    
Defined benefit plan, effect of one percentage point decrease on accumulated postretirement benefit obligation 278    
Defined benefit plan, effect of one percentage point decrease on service and interest cost components 29    
Post retirement health insurance [Member]      
Deferred Compensation Arrangements [Abstract]      
Lifetime maximum benefit paid per individual 20,000    
Post retirement life insurance [Member]      
Deferred Compensation Arrangements [Abstract]      
Lifetime maximum benefit paid per individual 3,000    
Additional benefit requirement amount $ 100    
v3.20.1
Employee Benefit Plans (Summary of Financing Arrangements for Leveraged ESOP Debt) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Issued June, 1991 [Member]      
Debt Disclosure [Abstract]      
Employee stock ownership plan (ESOP), debt structure, indirect loan, amount $ 0    
Employee stock ownership plan (ESOP), interest payments 0 $ 1 $ 1
Issued July, 2009 [Member]      
Debt Disclosure [Abstract]      
Employee stock ownership plan (ESOP), debt structure, indirect loan, amount 0    
Employee stock ownership plan (ESOP), interest payments 9 17 26
Issued February, 2016 [Member]      
Debt Disclosure [Abstract]      
Employee stock ownership plan (ESOP), debt structure, indirect loan, amount 0    
Employee stock ownership plan (ESOP), interest payments $ 229 $ 190 $ 242
v3.20.1
Employee Benefit Plans (Shares Held by the ESOP Plan) (Details) - USD ($)
$ in Thousands
Mar. 31, 2020
Mar. 31, 2019
Employee Stock Ownership Plan (ESOP), Shares in ESOP [Abstract]    
Allocated shares 1,003 1,069
Unreleased shares 0 16
Fair value of unreleased shares $ 0 $ 6,019
Unreleased shares non-leveraged 0 0
Fair value of unreleased shares non-leveraged $ 0 $ 0
v3.20.1
Employee Benefit Plans (Components of net periodic post retirement benefit cost) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Postemployment Benefits [Abstract]      
Service cost for benefits earned during the period $ 1,055 $ 1,108 $ 1,073
Interest cost on accumulated postretirement benefit 964 943 869
Other components 90 70 58
Net periodic postretirement benefit cost $ 2,109 $ 2,121 $ 2,000
v3.20.1
Employee Benefit Plans (Components of Postretirement Benefit Liabilities) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]      
Beginning of year $ 25,817 $ 23,316  
Service cost for benefits earned during the period 1,055 1,108 $ 1,073
Interest cost on accumulated post retirement benefit 964 943 869
Net benefit payments and expense 93 979  
Actuarial loss (240) 1,429  
Accumulated postretirement benefit obligation 27,503 25,817 $ 23,316
Liabilities:      
Current liabilities 1,151 1,037  
Non-currrent liabilities 26,352 24,780  
Total post retirement benefit liability recognized in statement of financial position 27,503 25,817  
Components included in accumulated other comprehensive income (loss):      
Unrecognized net loss (3,447) (3,890)  
Cumulative net periodic benefit cost (in excess of employer contribution) $ 24,056 $ 21,927  
v3.20.1
Employee Benefit Plans (Discount Rate Assumptions in Computation of Accumulated Postretirement Benefit Obligation) (Details)
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]      
Accumulated postretirement benefit obligation 3.37% 3.83% 3.98%
v3.20.1
Employee Benefit Plans (Future Net Benefit Payments Expected for Post Employee Benefit Obligations) (Details)
$ in Thousands
Mar. 31, 2020
USD ($)
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract]  
2020 $ 1,151
2021 1,350
2022 1,547
2023 1,753
2024 1,965
2025 through 2028 11,581
Total $ 19,347
v3.20.1
Fair Value Measurements (Carrying and Estimated Fair Values within Fair Value Hierarchy) (Details) - USD ($)
$ in Thousands
Mar. 31, 2020
Mar. 31, 2019
Assets    
Reinsurance recoverables and trade receivables, net $ 186,672 $ 224,785
Mortgage loans, net 262,688 225,829
Other investments 97,685 74,907
Total 547,045 525,521
Liabilities    
Notes, loans and leases payable, gross   4,192,243
Total 4,342,308 4,192,243
Level 1 [Member]    
Assets    
Reinsurance recoverables and trade receivables, net 0 0
Mortgage loans, net 0 0
Other investments 0 0
Total 0 0
Liabilities    
Notes, loans and leases payable, gross 0 0
Total 0 0
Level 2 [Member]    
Assets    
Reinsurance recoverables and trade receivables, net 0 0
Mortgage loans, net 0 0
Other investments 0 0
Total 0 0
Liabilities    
Notes, loans and leases payable, gross 4,651,068 4,192,243
Total 4,651,068 4,192,243
Level 3 [Member]    
Assets    
Reinsurance recoverables and trade receivables, net 186,672 224,785
Mortgage loans, net 262,688 225,829
Other investments 97,685 74,907
Total 547,045 525,521
Liabilities    
Notes, loans and leases payable, gross 0 0
Total 0 0
Carrying Value [Member]    
Assets    
Reinsurance recoverables and trade receivables, net 186,672 224,785
Mortgage loans, net 262,688 225,829
Other investments 97,685 74,907
Total 547,045 525,521
Liabilities    
Notes, loans and leases payable, gross 4,651,068 4,192,243
Total $ 4,651,068 $ 4,192,243
v3.20.1
Fair Value Measurements (Financial Instruments Level within the Fair Value Hierarchy) (Details) - USD ($)
$ in Thousands
Mar. 31, 2020
Mar. 31, 2019
Assets:    
Short-term investments $ 369,279 $ 463,847
Fixed maturities - available for sale 2,466,048 2,209,761
Preferred stock 6,675 8,257
Common stock 20,015 17,379
Derivatives 5,944 1,607
Total 2,867,961 2,700,851
Liabilities:    
Derivatives 8,214 0
Total 8,214 0
Level 1 [Member]    
Assets:    
Short-term investments 368,968 463,599
Fixed maturities - available for sale 7,156 7,327
Preferred stock 6,675 8,257
Common stock 20,015 17,379
Derivatives 5,944 1,468
Total 408,758 498,030
Liabilities:    
Derivatives 0 0
Total 0 0
Level 2 [Member]    
Assets:    
Short-term investments 311 248
Fixed maturities - available for sale 2,458,731 2,202,213
Preferred stock 0 0
Common stock 0 0
Derivatives 0 139
Total 2,459,042 2,202,600
Liabilities:    
Derivatives 8,214 0
Total 8,214 0
Level 3 [Member]    
Assets:    
Short-term investments 0 0
Fixed maturities - available for sale 161 221
Preferred stock 0 0
Common stock 0 0
Derivatives 0 0
Total 161 221
Liabilities:    
Derivatives 0 0
Total $ 0 $ 0
v3.20.1
Reinsurance and Policy Benefits and Losses, Claims and Loss Expenses Payable (Narratives) (Details) - USD ($)
 12 Months Ended
Mar. 31, 2020
Dec. 31, 2019
Reinsurance Disclosures [Abstract]    
Maximum amount of life insurance retained on any one life $ 125,000  
Letters of credit held at year end from re-insurers   $ 100,000
Letters of credit issued at year end   1,900,000
Reinsurance recoverable, gross   87,100,000
Liability for Unpaid Claims and Claims Adjustment Expense, Period Increase (Decrease)   $ 19,800,000
v3.20.1
Reinsurance and Policy Benefits and Losses, Claims and Loss Expenses Payable (Insurance Subsidiaries Activity) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Year ended December 31,      
Direct amount (a) - Life insurance in force $ 957,280 $ 941,822 $ 947,720
Ceded to other companies - Life insurance in force 7 207 248
Assumed from other companies - Life insurance in force 441,563 548,152 876,865
Net amount (a) - Life insurance in force $ 1,398,836 $ 1,489,767 $ 1,824,337
Percentage of amount assumed to net - Life insurance in force 32.00% 37.00% 48.00%
Direct amount (a) $ 189,343 $ 191,573 $ 199,512
Ceded to other companies 227 266 368
Assumed from other companies 8,001 (66,971) 12,659
Net amount (a) 197,117 124,336 211,803
Premiums earned: Life [Member]      
Year ended December 31,      
Direct amount (a) 53,289 51,691 51,227
Ceded to other companies 1 (1) 4
Assumed from other companies 5,629 (69,616) 9,880
Net amount (a) $ 58,917 $ (17,924) $ 61,103
Percentage of amount assumed to net 10.00% 388.00% 16.00%
Premiums earned: Accident and health [Member]      
Year ended December 31,      
Direct amount (a) $ 66,863 $ 77,813 $ 90,396
Ceded to other companies 226 267 295
Assumed from other companies 1,563 1,851 1,977
Net amount (a) $ 68,200 $ 79,397 $ 92,078
Percentage of amount assumed to net 2.00% 2.00% 2.00%
Premiums earned: Annuity [Member]      
Year ended December 31,      
Direct amount (a) $ 65 $ 1,221 $ 728
Ceded to other companies 0 0 0
Assumed from other companies 794 794 794
Net amount (a) $ 859 $ 2,015 $ 1,522
Percentage of amount assumed to net 92.00% 39.00% 52.00%
Premiums earned: Property and casualty [Member]      
Year ended December 31,      
Direct amount (a) $ 69,126 $ 60,848 $ 57,161
Ceded to other companies 0 0 69
Assumed from other companies 15 0 8
Net amount (a) $ 69,141 $ 60,848 $ 57,100
Percentage of amount assumed to net 0.00% 0.00% 0.00%
v3.20.1
Reinsurance and Policy Benefits and Losses Claims and Loss Expenses Payable (Policy Benefits and Losses, Claims and Loss Expenses Payable for Property and Casualty Insurance) (Details) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Mar. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Reinsurance:            
Unpaid losses and loss adjustment expense   $ 209,127        
Total $ 997,647   $ 1,011,183      
Property and Casualty Insurance [Member]            
Reinsurance:            
Unpaid losses and loss adjustment expense   209,127   $ 228,970 $ 233,554 $ 244,400
Operating Segments [Member] | Property and Casualty Insurance [Member]            
Reinsurance:            
Unpaid losses and loss adjustment expense   209,127   228,970    
Reinsurance losses payable   1,214   988    
Total $ 210,341 $ 210,341 $ 229,958 $ 229,958    
v3.20.1
Reinsurance and Policy Benefits and Losses, Claims, and Loss Expenses Payable (Activity in the Liability for Unpaid Losses and Loss Adjustment Expenses for Property and Casualty Insurance) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Paid related to:      
Net balance at December 31 $ 122,044    
Plus: reinsurance recoverables 87,083    
Balance at December 31 209,127    
Property and Casualty Insurance [Member]      
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]      
Balance at January 1 228,970 $ 233,554 $ 244,400
Less: reinsurance recoverables 94,920 94,490 103,952
Net balance at January 1 134,050 139,064 140,448
Incurred related to:      
Current year 22,137 19,579 15,749
Prior years (9,535) (5,365) 233
Total incurred 12,602 14,214 15,982
Paid related to:      
Current year 7,366 8,838 8,969
Prior years 17,242 10,390 8,397
Total paid 24,608 19,228 17,366
Net balance at December 31 122,044 134,050 139,064
Plus: reinsurance recoverables 87,083 94,920 94,490
Balance at December 31 209,127 228,970 $ 233,554
Operating Segments [Member] | Property and Casualty Insurance [Member]      
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]      
Balance at January 1 228,970    
Paid related to:      
Balance at December 31 $ 209,127 $ 228,970  
v3.20.1
Reinsurance and Policy Benefits and Losses, Claims, and Loss Expenses Payable (Incurred Claims Development) (Details)
$ in Thousands
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
Dec. 31, 2013
USD ($)
Incurred claims development [Abstract]              
Shortduration Insurance Contracts Incurred But Not Reported Ibnr Claims Liability Net $ 16,924            
Accident Year 2013 [Member]              
Incurred claims development [Abstract]              
Shortduration Insurance Contracts Incurred Claims And Allocated Claim Adjustment Expense Net 9,594 $ 9,595 $ 9,576 $ 9,741 $ 9,914 $ 9,853 $ 9,861
Shortduration Insurance Contracts Incurred But Not Reported Ibnr Claims Liability Net $ 0            
Shortduration Insurance Contracts Number Of Reported Claims 7,652            
Accident Year 2014 [Member]              
Incurred claims development [Abstract]              
Shortduration Insurance Contracts Incurred Claims And Allocated Claim Adjustment Expense Net $ 10,493 10,748 10,759 10,720 10,907 $ 11,691  
Shortduration Insurance Contracts Incurred But Not Reported Ibnr Claims Liability Net $ 78            
Shortduration Insurance Contracts Number Of Reported Claims 9,627            
Accident Year 2015 [Member]              
Incurred claims development [Abstract]              
Shortduration Insurance Contracts Incurred Claims And Allocated Claim Adjustment Expense Net $ 11,087 12,464 12,460 12,459 $ 12,214    
Shortduration Insurance Contracts Incurred But Not Reported Ibnr Claims Liability Net $ 0            
Shortduration Insurance Contracts Number Of Reported Claims 10,652            
Accident Year 2016 [Member]              
Incurred claims development [Abstract]              
Shortduration Insurance Contracts Incurred Claims And Allocated Claim Adjustment Expense Net $ 11,790 13,056 13,011 $ 13,297      
Shortduration Insurance Contracts Incurred But Not Reported Ibnr Claims Liability Net $ 0            
Shortduration Insurance Contracts Number Of Reported Claims 10,954            
Accident Year 2017 [Member]              
Incurred claims development [Abstract]              
Shortduration Insurance Contracts Incurred Claims And Allocated Claim Adjustment Expense Net $ 17,078 16,109 $ 15,749        
Shortduration Insurance Contracts Incurred But Not Reported Ibnr Claims Liability Net $ 1,411            
Shortduration Insurance Contracts Number Of Reported Claims 11,291            
Accident Year 2018 [Member]              
Incurred claims development [Abstract]              
Shortduration Insurance Contracts Incurred Claims And Allocated Claim Adjustment Expense Net $ 18,386 $ 19,580          
Shortduration Insurance Contracts Incurred But Not Reported Ibnr Claims Liability Net $ 4,692            
Shortduration Insurance Contracts Number Of Reported Claims 11,083            
Accident Year 2019 [Member]              
Incurred claims development [Abstract]              
Shortduration Insurance Contracts Incurred Claims And Allocated Claim Adjustment Expense Net $ 22,138            
Shortduration Insurance Contracts Incurred But Not Reported Ibnr Claims Liability Net $ 10,743            
Shortduration Insurance Contracts Number Of Reported Claims 10,745            
v3.20.1
Reinsurance And Policy Benefits And Losses Claims And Loss Expenses Payable (Cumulative Paid Claims And Allocated Claim Adjustment Expense Net Of Reinsurance) (Details) - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Incurred claims development [Abstract]              
Shortduration Insurance Contracts Cumulative Paid Claims And Allocated Claim Adjustment Expense Net $ 77,634            
All outstanding liabilities before 2012, net of reinsurance 99,113            
Liabilities for claims and claim adjustment expenses, net of reinsurance 122,044            
Accident Year 2013 [Member]              
Incurred claims development [Abstract]              
Shortduration Insurance Contracts Cumulative Paid Claims And Allocated Claim Adjustment Expense Net 9,594 $ 9,595 $ 9,576 $ 9,462 $ 8,718 $ 7,608 $ 5,227
Accident Year 2014 [Member]              
Incurred claims development [Abstract]              
Shortduration Insurance Contracts Cumulative Paid Claims And Allocated Claim Adjustment Expense Net 10,327 10,325 9,293 9,270 8,087 $ 6,154  
Accident Year 2015 [Member]              
Incurred claims development [Abstract]              
Shortduration Insurance Contracts Cumulative Paid Claims And Allocated Claim Adjustment Expense Net 11,087 10,343 9,730 9,601 $ 7,509    
Accident Year 2016 [Member]              
Incurred claims development [Abstract]              
Shortduration Insurance Contracts Cumulative Paid Claims And Allocated Claim Adjustment Expense Net 11,746 11,643 10,665 $ 7,777      
Accident Year 2017 [Member]              
Incurred claims development [Abstract]              
Shortduration Insurance Contracts Cumulative Paid Claims And Allocated Claim Adjustment Expense Net 14,825 11,638 $ 8,969        
Accident Year 2018 [Member]              
Incurred claims development [Abstract]              
Shortduration Insurance Contracts Cumulative Paid Claims And Allocated Claim Adjustment Expense Net 12,689 $ 8,838          
Accident Year 2019 [Member]              
Incurred claims development [Abstract]              
Shortduration Insurance Contracts Cumulative Paid Claims And Allocated Claim Adjustment Expense Net $ 7,366            
v3.20.1
Reinsurance And Policy Benefits And Losses Claims And Loss Expenses Payable (Total Gross Liability For Unpaid Property And Casualty Claims And Claim Adjustment Expense) (Details) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Mar. 31, 2019
Shortduration Insurance Contracts Liability For Unpaid Claims And Allocated Claim Adjustment Expense Net [Abstract]      
Liabilities for unpaid property and casualty claims and claim adjustment expenses, net of reinsurance   $ 122,044  
Total reinsurance recoverable on unpaid property and casualty claims $ 89,020 87,083 $ 99,615
Total gross liability for unpaid Property and Casualty claims and claim adjustment expense   $ 209,127  
v3.20.1
Reinsurance And Policy Benefits And Losses Claims And Loss Expenses Payable (Average Annual Percentage Payout Of Incurred Claims By Age Net Of Reinsurance) (Details) - Property and Casualty Insurance [Member]
Dec. 31, 2019
Average annual Percentage Payout [Abstract]  
Year 1 54.40%
Year 2 20.50%
Year 3 10.20%
Year 4 3.60%
Year 5 5.90%
Year 6 0.10%
Year 7 0.00%
v3.20.1
Leases (Narratives) (Details)
$ in Millions
 12 Months Ended
Mar. 31, 2020
USD ($)
Leases [Abstract]  
Right Of Use Asset Obtained In Exchange For Operating Lease Liability $ 105.4
Right Of Use Asset Obtained In Exchange For Finance Lease Liability 948.2
Operating Cash Flows For Financing Leases 20.2
Cash paid for finance leases $ 25.9
v3.20.1
Leases (Components Right Of Use Assets) (Details)
$ in Thousands
Mar. 31, 2020
USD ($)
Finance Lease [Abstract]  
Building and Improvements $ 125,547
Furniture and equipment 21,113
Rental trailers and rental equipment 116,072
Rental trucks 1,738,081
Right Of Use Assets Gross 2,000,813
less: accumulated depreciation (813,829)
Right of use assets, net 1,186,984
Finance Lease [Member]  
Finance Lease [Abstract]  
Building and Improvements 0
Furniture and equipment 21,113
Rental trailers and rental equipment 116,072
Rental trucks 1,738,081
Right Of Use Assets Gross 1,875,266
less: accumulated depreciation (794,913)
Right of use assets, net 1,080,353
Operating Lease [Member]  
Finance Lease [Abstract]  
Building and Improvements 125,547
Furniture and equipment 0
Rental trailers and rental equipment 0
Rental trucks 0
Right Of Use Assets Gross 125,547
less: accumulated depreciation (18,916)
Right of use assets, net $ 106,631
v3.20.1
Leases (Weighted Average Discount Rate) (Details)
 12 Months Ended
Mar. 31, 2020
Weighted Average Remaining Lease Term [Abstract]  
Remaining Lease Term Fianance Lease Weighted Average 4 Years
Remaining Lease Term Operating Lease Weighted Average 14 Years
Weighted Average Discount Rate [Abstract]  
Finance Lease Weighted Average Discount Rate Percent 3.50%
Operating Lease Weighted Average Discount Rate Percent 4.60%
v3.20.1
Leases (Components Of Lease Expense) (Details)
$ in Thousands
 12 Months Ended
Mar. 31, 2020
USD ($)
Lease Cost [Abstract]  
Operating Lease cost $ 27,494
Finance Lease Cost [Abstract]  
Finance Lease Right Of Use Asset Amortization 186,860
Finance Lease Interest Expense 30,901
Sum of finance lease cost $ 217,761
v3.20.1
Leases (Maturities Of Lease Liabilities) (Details)
$ in Thousands
Mar. 31, 2020
USD ($)
Finance Lease Liabilities Payments Due [Abstract]  
2021 $ 218,424
2022 164,190
2023 124,160
2024 106,156
2025 75,502
Thereafter 46,438
Total lease payments 734,870
Less: imputed interest 0
Finance Lease Liability 734,870
Operating Lease Liabilities Payments Due [Abstract]  
2021 23,782
2022 22,001
2023 21,238
2024 20,616
2025 9,701
Thereafter 64,806
Total lease payments 162,144
Less: imputed interest 55,701
Operating Lease Liability $ 106,443
v3.20.1
Leases (Lease Commitments For Lease Terms Of More Than One Year (Details)
$ in Thousands
Mar. 31, 2020
USD ($)
Operating Leases Future Minimum Payments Due [Abstract]  
2021 $ 22,854
2022 16,927
2023 13,250
2024 9,834
2025 7,102
Thereafter 58,379
Operating and Ground Lease Commitments [Member]  
Operating Leases Future Minimum Payments Due [Abstract]  
2021 20,852
2022 18,495
2023 16,750
2024 16,317
2025 15,736
Thereafter 54,683
Total $ 142,833
v3.20.1
Contingencies (Narratives) (Details) - Covid 19 Pandemic
$ in Millions
 12 Months Ended
Mar. 31, 2020
USD ($)
Unusual Or Infrequent Item Net Gain Loss [Abstract]  
Decline in product and service revenue, percentage 30.00%
Revenue loss due to pandemic $ 39.5
CARES act, refund estimate $ 381.0
v3.20.1
Related Party Transactions (Narratives) (Details) - Sac Holdings, Mercury, Four Sac, Five Sac, Galaxy and Private Mini [Member] - USD ($)
$ in Millions
 12 Months Ended
Mar. 31, 2020
Dec. 31, 2019
Mar. 31, 2019
Mar. 31, 2018
Related party notes receivable:        
Proceeds From Sale Of Property Held For Sale   $ 15.0    
Payments To Acquire Buildings   $ 11.5    
Property Management Fee [Abstract]        
Management fees received exclusive of reimbursed expenses $ 29.0   $ 30.0 $ 29.5
Related party costs and expenses:        
Revenue, excluding dealer agreement commissions and expenses 24.0      
Expenses, related parties 2.6      
Cash flow, related party 21.5      
Revenue, generated by the dealer agreement from related parties 293.6      
Commission expenses, generated from dealer agreement with related parties $ 62.1      
Minimum [Member]        
Property Management Fee [Abstract]        
Management fee rate 4.00%      
Maximum [Member]        
Property Management Fee [Abstract]        
Management fee rate 10.00%      
v3.20.1
Related Party Transactions (Related Party Revenue) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Related party transactions:      
Management fees revenue $ 30,406 $ 29,148 $ 29,602
Blackwater [Member]      
Related party transactions:      
Interest income revenue 0 0 3,326
Management fees revenue 24,014 23,986 23,577
Mercury [Member]      
Related party transactions:      
Management fees revenue $ 6,392 $ 5,162 $ 6,025
v3.20.1
Related Party Transactions (Related Party Costs and Expenses) (Details) - Blackwater [Member] - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Related Party Cost and Expense [Abstract]      
U-Haul lease expenses $ 2,631 $ 2,678 $ 2,684
U-Haul commission expenses $ 62,066 $ 61,434 $ 58,595
v3.20.1
Related Party Transactions (Related Party Assets) (Details) - USD ($)
$ in Thousands
Mar. 31, 2020
Mar. 31, 2019
Related party assets:    
U-Haul receivables $ 9,828 $ 5,523
Related party assets 34,784 30,889
Blackwater [Member]    
Related party assets:    
Notes receivable 25,293 25,158
Mercury [Member]    
Related party assets:    
Notes receivable 9,893 7,234
Insurance Subsidiaries [Member]    
Related party assets:    
Other $ (402) $ (1,503)
v3.20.1
Statutory Financial Information of Insurance Subsidiaries (Narratives) (Details) - USD ($)
$ in Millions
 12 Months Ended
Mar. 31, 2020
Dec. 31, 2019
Mar. 31, 2019
Property and Casualty Insurance [Member] | Repwest [Member]      
Statutory financial information of insurance subsidiaries:      
Statutory accounting practices, statutory amount available for dividend payments   $ 22.7  
Dividend payments restrictions schedule, amounts paid $ 21.6    
Restricted net assets, subsidiaries $ 98.5   $ 130.2
Life Insurance [Member] | Oxford [Member]      
Statutory financial information of insurance subsidiaries:      
Statutory accounting practices, statutory amount available for dividend payments   $ 18.6  
v3.20.1
Statutory Financial Information of Insurance Subsidiaries (Net income (loss) Capital and Surplus (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Repwest [Member]      
Statutory financial information of insurance subsidiaries:      
Audit statutory net income (loss) $ 28,614 $ 23,960 $ 16,328
Audited statutory capital and surplus 226,999 216,763 197,375
ARCOA [Member]      
Statutory financial information of insurance subsidiaries:      
Audit statutory net income (loss) 2,906 1,612 1,190
Audited statutory capital and surplus 12,851 9,390 7,991
Oxford [Member]      
Statutory financial information of insurance subsidiaries:      
Audit statutory net income (loss) 18,599 11,367 10,350
Audited statutory capital and surplus 223,264 203,723 195,931
CFLIC [Member]      
Statutory financial information of insurance subsidiaries:      
Audit statutory net income (loss) 8,043 8,735 8,062
Audited statutory capital and surplus 26,305 27,232 26,653
NAI [Member]      
Statutory financial information of insurance subsidiaries:      
Audit statutory net income (loss) 1,942 1,436 1,594
Audited statutory capital and surplus $ 13,371 $ 12,817 $ 12,674
v3.20.1
Financial Information by Geographic Area (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Fiscal year ended:      
Total revenues $ 3,978,868 $ 3,768,707 $ 3,601,114
Depreciation and amortization, net of (gains) losses on disposals 667,524 582,555 372,347
Pretax earnings 378,124 477,529 637,613
Identifiable assets 13,438,024 11,891,713 10,747,422
United States [Member]      
Fiscal year ended:      
Total revenues 3,797,849 3,597,285 3,435,821
Depreciation and amortization, net of (gains) losses on disposals 652,110 575,134 363,826
Interest expense 157,595 139,573 123,777
Pretax earnings 372,687 466,175 628,901
Income tax expense (65,842) 103,578 (155,685)
Identifiable assets 13,016,942 11,526,876 10,425,299
Canada [Member]      
Fiscal year ended:      
Total revenues 181,019 171,422 165,293
Depreciation and amortization, net of (gains) losses on disposals 15,414 7,421 8,521
Interest expense 3,355 2,872 2,929
Pretax earnings 5,437 11,354 8,712
Income tax expense 1,918 3,094 2,715
Identifiable assets $ 421,082 $ 364,837 $ 322,123
v3.20.1
Consolidating financial information by industry segment (Balance Sheets) (Details) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Mar. 31, 2019
Dec. 31, 2018
Mar. 31, 2018
Mar. 31, 2017
ASSETS:            
Cash and cash equivalents $ 494,352   $ 673,701   $ 759,388 $ 697,806
Reinsurance recoverables and trade receivables, net 186,672   224,785      
Inventories, net 101,083   103,504      
Prepaid expenses 562,904   174,100      
Investments, fixed maturities and marketable equities 2,492,738   2,235,397      
Investments, other 360,373   300,736      
Deferred policy acquisition costs, net 103,118   136,276      
Other assets 71,956   78,354      
Right of use assets, financing, net 1,080,353   0      
Right of use assets, operating 106,631   0      
Related party assets 34,784   30,889      
Subtotal assets 5,594,964   3,957,742      
Investments in subsidiaries 0   0      
Property, plant and equipment, at cost:            
Land 1,032,945   976,454      
Buildings and improvements 4,663,461   4,003,726      
Furniture and equipment 752,363   689,780      
Property, plant and equipment (gross) 10,556,222   11,022,027      
Less: Accumulated depreciation (2,713,162)   (3,088,056)      
Total property, plant and equipment 7,843,060   7,933,971      
Total assets 13,438,024   11,891,713   10,747,422  
Liabilities:            
Accounts payable and accrued expenses 554,353   556,873      
Notes, loans and leases payable 4,621,291   4,163,323      
Operating lease liabilities 106,443   0      
Policy benefits and losses, claims and loss expenses payable 997,647   1,011,183      
Liabilities from investment contracts 1,802,217   1,666,742      
Other policyholders' funds and liabilities 10,190   15,047      
Deferred income 31,620   35,186      
Deferred income taxes 1,093,543   750,970      
Related party liabilities 0   0      
Total liabilities 9,217,304   8,199,324      
Stockholders' equity:            
Additional paid-in capital 453,819   453,326      
Accumulated other comprehensive loss 34,652   (66,698)      
Retained earnings 4,399,402   3,976,962      
Unearned employee stock ownership plan shares 0   (4,048)      
Total stockholders' equity 4,220,720   3,692,389      
Total liabilities and stockholders' equity 13,438,024   11,891,713      
Rental Trailers and Other Rental Equipment [Member]            
Property, plant and equipment, at cost:            
Property subject to or available for operating lease, gross 511,520   590,039      
Rental Trucks [Member]            
Property, plant and equipment, at cost:            
Property subject to or available for operating lease, gross 3,595,933   4,762,028      
Series A Preferred Stock [Member]            
Stockholders' equity:            
Preferred stock, value, issued 0   0      
Series B Preferred Stock [Member]            
Stockholders' equity:            
Preferred stock, value, issued 0   0      
Series A Common Stock [Member]            
Stockholders' equity:            
Common stock, value, issued 0   0      
Amerco Common Stock [Member]            
Stockholders' equity:            
Common stock, value, issued 10,497   10,497      
Common Stock in Treasury [Member]            
Stockholders' equity:            
Treasury stock, value (525,653)   (525,653)      
Preferred Stock in Treasury [Member]            
Stockholders' equity:            
Treasury stock, value (151,997)   (151,997)      
Operating Segments [Member] | Moving and Storage Consolidations [Member]            
ASSETS:            
Cash and cash equivalents 459,078   643,918   702,036 671,665
Reinsurance recoverables and trade receivables, net 60,073   90,832      
Inventories, net 101,083   103,504      
Prepaid expenses 562,904   174,100      
Investments, fixed maturities and marketable equities 0   0      
Investments, other 20,988   23,013      
Deferred policy acquisition costs, net 0   0      
Other assets 69,128   72,768      
Right of use assets, financing, net 1,080,353          
Right of use assets, operating 106,631          
Related party assets 41,027   35,997      
Subtotal assets 2,501,265   1,144,132      
Investments in subsidiaries 668,498   534,157      
Property, plant and equipment, at cost:            
Land 1,032,945   976,454      
Buildings and improvements 4,663,461   4,003,726      
Furniture and equipment 752,363   689,780      
Property, plant and equipment (gross) 10,556,222   11,022,027      
Less: Accumulated depreciation (2,713,162)   (3,088,056)      
Total property, plant and equipment 7,843,060   7,933,971      
Total assets 11,012,823   9,612,260      
Liabilities:            
Accounts payable and accrued expenses 545,685   548,099      
Notes, loans and leases payable 4,609,844   4,163,323      
Operating lease liabilities 106,443          
Policy benefits and losses, claims and loss expenses payable 410,107   407,934      
Liabilities from investment contracts 0   0      
Other policyholders' funds and liabilities 0   0      
Deferred income 31,620   35,186      
Deferred income taxes 1,063,681   741,644      
Related party liabilities 24,275   25,446      
Total liabilities 6,791,655   5,921,632      
Stockholders' equity:            
Additional paid-in capital 454,029   453,536      
Accumulated other comprehensive loss 35,100   (68,459)      
Retained earnings 4,399,192   3,976,752      
Unearned employee stock ownership plan shares 0   (4,048)      
Total stockholders' equity 4,221,168   3,690,628      
Total liabilities and stockholders' equity 11,012,823   9,612,260      
Operating Segments [Member] | Moving and Storage Consolidations [Member] | Rental Trailers and Other Rental Equipment [Member]            
Property, plant and equipment, at cost:            
Property subject to or available for operating lease, gross 511,520   590,039      
Operating Segments [Member] | Moving and Storage Consolidations [Member] | Rental Trucks [Member]            
Property, plant and equipment, at cost:            
Property subject to or available for operating lease, gross 3,595,933   4,762,028      
Operating Segments [Member] | Moving and Storage Consolidations [Member] | Series A Preferred Stock [Member]            
Stockholders' equity:            
Preferred stock, value, issued 0   0      
Operating Segments [Member] | Moving and Storage Consolidations [Member] | Series B Preferred Stock [Member]            
Stockholders' equity:            
Preferred stock, value, issued 0   0      
Operating Segments [Member] | Moving and Storage Consolidations [Member] | Series A Common Stock [Member]            
Stockholders' equity:            
Common stock, value, issued 0   0      
Operating Segments [Member] | Moving and Storage Consolidations [Member] | Amerco Common Stock [Member]            
Stockholders' equity:            
Common stock, value, issued 10,497   10,497      
Operating Segments [Member] | Moving and Storage Consolidations [Member] | Common Stock in Treasury [Member]            
Stockholders' equity:            
Treasury stock, value (525,653)   (525,653)      
Operating Segments [Member] | Moving and Storage Consolidations [Member] | Preferred Stock in Treasury [Member]            
Stockholders' equity:            
Treasury stock, value (151,997)   (151,997)      
Operating Segments [Member] | Property and Casualty Insurance [Member]            
ASSETS:            
Cash and cash equivalents 4,794   5,757   6,639 12,725
Reinsurance recoverables and trade receivables, net 93,995   102,120      
Inventories, net 0   0      
Prepaid expenses 0   0      
Investments, fixed maturities and marketable equities 288,998   279,641      
Investments, other 90,145   74,679      
Deferred policy acquisition costs, net 0   0      
Other assets 680   2,456      
Right of use assets, financing, net 0          
Right of use assets, operating 0          
Related party assets 7,137   6,639      
Subtotal assets 485,749   471,292      
Investments in subsidiaries 0   0      
Property, plant and equipment, at cost:            
Land 0   0      
Buildings and improvements 0   0      
Furniture and equipment 0   0      
Property, plant and equipment (gross) 0   0      
Less: Accumulated depreciation 0   0      
Total property, plant and equipment 0   0      
Total assets 485,749   471,292      
Liabilities:            
Accounts payable and accrued expenses 5,530   2,844      
Notes, loans and leases payable 0   0      
Operating lease liabilities 0          
Policy benefits and losses, claims and loss expenses payable 210,341 $ 210,341 229,958 $ 229,958    
Liabilities from investment contracts 0   0      
Other policyholders' funds and liabilities 5,751   5,259      
Deferred income 0   0      
Deferred income taxes 8,447   6,961      
Related party liabilities 4,616   3,836      
Total liabilities 234,685   248,858      
Stockholders' equity:            
Additional paid-in capital 91,120   91,120      
Accumulated other comprehensive loss 12,581   (3,721)      
Retained earnings 144,062   131,734      
Unearned employee stock ownership plan shares 0   0      
Total stockholders' equity 251,064   222,434      
Total liabilities and stockholders' equity 485,749   471,292      
Operating Segments [Member] | Property and Casualty Insurance [Member] | Rental Trailers and Other Rental Equipment [Member]            
Property, plant and equipment, at cost:            
Property subject to or available for operating lease, gross 0   0      
Operating Segments [Member] | Property and Casualty Insurance [Member] | Rental Trucks [Member]            
Property, plant and equipment, at cost:            
Property subject to or available for operating lease, gross 0   0      
Operating Segments [Member] | Property and Casualty Insurance [Member] | Series A Preferred Stock [Member]            
Stockholders' equity:            
Preferred stock, value, issued 0   0      
Operating Segments [Member] | Property and Casualty Insurance [Member] | Series B Preferred Stock [Member]            
Stockholders' equity:            
Preferred stock, value, issued 0   0      
Operating Segments [Member] | Property and Casualty Insurance [Member] | Series A Common Stock [Member]            
Stockholders' equity:            
Common stock, value, issued 0   0      
Operating Segments [Member] | Property and Casualty Insurance [Member] | Amerco Common Stock [Member]            
Stockholders' equity:            
Common stock, value, issued 3,301   3,301      
Operating Segments [Member] | Property and Casualty Insurance [Member] | Common Stock in Treasury [Member]            
Stockholders' equity:            
Treasury stock, value 0   0      
Operating Segments [Member] | Property and Casualty Insurance [Member] | Preferred Stock in Treasury [Member]            
Stockholders' equity:            
Treasury stock, value 0   0      
Operating Segments [Member] | Life Insurance [Member]            
ASSETS:            
Cash and cash equivalents 30,480   24,026   50,713 13,416
Reinsurance recoverables and trade receivables, net 32,604   31,833      
Inventories, net 0   0      
Prepaid expenses 0   0      
Investments, fixed maturities and marketable equities 2,203,740   1,955,756      
Investments, other 249,240   203,044      
Deferred policy acquisition costs, net 103,118   136,276      
Other assets 2,148   3,130      
Right of use assets, financing, net 0          
Right of use assets, operating 0          
Related party assets 18,629   16,466      
Subtotal assets 2,639,959   2,370,531      
Investments in subsidiaries 0   0      
Property, plant and equipment, at cost:            
Land 0   0      
Buildings and improvements 0   0      
Furniture and equipment 0   0      
Property, plant and equipment (gross) 0   0      
Less: Accumulated depreciation 0   0      
Total property, plant and equipment 0   0      
Total assets 2,639,959   2,370,531      
Liabilities:            
Accounts payable and accrued expenses 3,138   5,930      
Notes, loans and leases payable 11,447   0      
Operating lease liabilities 0          
Policy benefits and losses, claims and loss expenses payable 377,199   373,291      
Liabilities from investment contracts 1,802,217   1,666,742      
Other policyholders' funds and liabilities 4,439   9,788      
Deferred income 0   0      
Deferred income taxes 21,415   2,365      
Related party liabilities 2,670   692      
Total liabilities 2,222,525   2,058,808      
Stockholders' equity:            
Additional paid-in capital 26,271   26,271      
Accumulated other comprehensive loss 78,550   (5,300)      
Retained earnings 310,113   288,252      
Unearned employee stock ownership plan shares 0   0      
Total stockholders' equity 417,434   311,723      
Total liabilities and stockholders' equity 2,639,959   2,370,531      
Operating Segments [Member] | Life Insurance [Member] | Rental Trailers and Other Rental Equipment [Member]            
Property, plant and equipment, at cost:            
Property subject to or available for operating lease, gross 0   0      
Operating Segments [Member] | Life Insurance [Member] | Rental Trucks [Member]            
Property, plant and equipment, at cost:            
Property subject to or available for operating lease, gross 0   0      
Operating Segments [Member] | Life Insurance [Member] | Series A Preferred Stock [Member]            
Stockholders' equity:            
Preferred stock, value, issued 0   0      
Operating Segments [Member] | Life Insurance [Member] | Series B Preferred Stock [Member]            
Stockholders' equity:            
Preferred stock, value, issued 0   0      
Operating Segments [Member] | Life Insurance [Member] | Series A Common Stock [Member]            
Stockholders' equity:            
Common stock, value, issued 0   0      
Operating Segments [Member] | Life Insurance [Member] | Amerco Common Stock [Member]            
Stockholders' equity:            
Common stock, value, issued 2,500   2,500      
Operating Segments [Member] | Life Insurance [Member] | Common Stock in Treasury [Member]            
Stockholders' equity:            
Treasury stock, value 0   0      
Operating Segments [Member] | Life Insurance [Member] | Preferred Stock in Treasury [Member]            
Stockholders' equity:            
Treasury stock, value 0   0      
Eliminations [Member]            
ASSETS:            
Cash and cash equivalents 0   0   $ 0 $ 0
Reinsurance recoverables and trade receivables, net 0   0      
Inventories, net 0   0      
Prepaid expenses 0   0      
Investments, fixed maturities and marketable equities 0   0      
Investments, other 0   0      
Deferred policy acquisition costs, net 0   0      
Other assets 0   0      
Right of use assets, financing, net 0          
Right of use assets, operating 0          
Related party assets (32,009)   (28,213)      
Subtotal assets (32,009)   (28,213)      
Investments in subsidiaries (668,498)   (534,157)      
Property, plant and equipment, at cost:            
Land 0   0      
Buildings and improvements 0   0      
Furniture and equipment 0   0      
Property, plant and equipment (gross) 0   0      
Less: Accumulated depreciation 0   0      
Total property, plant and equipment 0   0      
Total assets (700,507)   (562,370)      
Liabilities:            
Accounts payable and accrued expenses 0   0      
Notes, loans and leases payable 0   0      
Operating lease liabilities 0          
Policy benefits and losses, claims and loss expenses payable 0   0      
Liabilities from investment contracts 0   0      
Other policyholders' funds and liabilities 0   0      
Deferred income 0   0      
Deferred income taxes 0   0      
Related party liabilities (31,561)   (29,974)      
Total liabilities (31,561)   (29,974)      
Stockholders' equity:            
Additional paid-in capital (117,601)   (117,601)      
Accumulated other comprehensive loss (91,579)   10,782      
Retained earnings (453,965)   (419,776)      
Unearned employee stock ownership plan shares 0   0      
Total stockholders' equity (668,946)   (532,396)      
Total liabilities and stockholders' equity (700,507)   (562,370)      
Eliminations [Member] | Rental Trailers and Other Rental Equipment [Member]            
Property, plant and equipment, at cost:            
Property subject to or available for operating lease, gross 0   0      
Eliminations [Member] | Rental Trucks [Member]            
Property, plant and equipment, at cost:            
Property subject to or available for operating lease, gross 0   0      
Eliminations [Member] | Series A Preferred Stock [Member]            
Stockholders' equity:            
Preferred stock, value, issued 0   0      
Eliminations [Member] | Series B Preferred Stock [Member]            
Stockholders' equity:            
Preferred stock, value, issued 0   0      
Eliminations [Member] | Series A Common Stock [Member]            
Stockholders' equity:            
Common stock, value, issued 0   0      
Eliminations [Member] | Amerco Common Stock [Member]            
Stockholders' equity:            
Common stock, value, issued (5,801)   (5,801)      
Eliminations [Member] | Common Stock in Treasury [Member]            
Stockholders' equity:            
Treasury stock, value 0   0      
Eliminations [Member] | Preferred Stock in Treasury [Member]            
Stockholders' equity:            
Treasury stock, value $ 0   $ 0      
v3.20.1
Consolidating financial information by industry segment (Statement of Operations) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Revenues:      
Self-moving equipment rentals $ 2,692,413 $ 2,653,497 $ 2,479,742
Self-storage revenues 418,741 367,276 323,903
Self-moving and self-storage products and service sales 265,091 264,146 261,557
Property management fees 30,406 29,148 29,602
Life insurance premiums 127,976 63,488 154,703
Property and casualty insurance premiums 66,053 60,853 57,100
Net investment and interest income 137,829 110,934 110,473
Other revenue 240,359 219,365 184,034
Total revenues 3,978,868 3,768,707 3,601,114
Costs and expenses:      
Operating expenses 2,117,148 1,981,180 1,807,056
Commission expenses 288,332 288,408 276,705
Cost of sales 164,018 162,142 160,489
Benefits and losses 174,836 100,277 185,311
Amortization of deferred policy acquisition costs 31,219 28,556 24,514
Lease expense 26,882 33,158 33,960
Depreciation, net of (gains) losses on disposals 637,063 554,043 543,247
Net gains on disposal of real estate (758) (44) (195,414)
Total costs and expenses 3,438,740 3,147,720 2,835,868
Earnings from operations before equity in earnings of subsidiaries 540,128 620,987 765,246
Equity in earnings of subsidiaries 0 0 0
Earnings from operations 540,128 620,987 765,246
Pretax earnings 378,124 477,529 637,613
Earnings available to common shareholders 442,048 370,857 790,583
Operating Segments [Member] | Moving and Storage Consolidations [Member]      
Revenues:      
Self-moving equipment rentals 2,696,516 2,656,327 2,483,956
Self-storage revenues 418,741 367,276 323,903
Self-moving and self-storage products and service sales 265,091 264,146 261,557
Property management fees 30,406 29,148 29,602
Life insurance premiums 0 0 0
Property and casualty insurance premiums 0 0 0
Net investment and interest income 10,593 13,857 12,232
Other revenue 236,419 215,055 179,417
Total revenues 3,657,766 3,545,809 3,290,667
Costs and expenses:      
Operating expenses 2,069,655 1,938,317 1,758,697
Commission expenses 288,332 288,408 276,705
Cost of sales 164,018 162,142 160,489
Benefits and losses 0 0 0
Amortization of deferred policy acquisition costs 0 0 0
Lease expense 27,494 33,702 34,243
Depreciation, net of (gains) losses on disposals 637,063 554,043 543,247
Net gains on disposal of real estate (758) (44) (195,414)
Total costs and expenses 3,185,804 2,976,568 2,577,967
Earnings from operations before equity in earnings of subsidiaries 471,962 569,241 712,700
Equity in earnings of subsidiaries 55,789 41,811 46,990
Earnings from operations 527,751 611,052 759,690
Other components of net periodic benefit costs (1,054) (1,013) (927)
Interest expense (162,062) (143,586) (127,997)
Pretax earnings 364,635 466,453 630,766
Income tax expense 77,413 (95,596) 159,817
Earnings available to common shareholders 442,048 370,857 790,583
Operating Segments [Member] | Property and Casualty Insurance [Member]      
Revenues:      
Self-moving equipment rentals 0 0 0
Self-storage revenues 0 0 0
Self-moving and self-storage products and service sales 0 0 0
Property management fees 0 0 0
Life insurance premiums 0 0 0
Property and casualty insurance premiums 69,141 63,488 58,800
Net investment and interest income 19,923 12,349 15,771
Other revenue 0 0 0
Total revenues 89,064 75,837 74,571
Costs and expenses:      
Operating expenses 33,770 34,218 32,710
Commission expenses 0 0 0
Cost of sales 0 0 0
Benefits and losses 12,410 14,213 15,983
Amortization of deferred policy acquisition costs 0 0 0
Lease expense 0 0 0
Depreciation, net of (gains) losses on disposals 0 0 0
Net gains on disposal of real estate 0 0 0
Total costs and expenses 46,180 48,431 48,693
Earnings from operations before equity in earnings of subsidiaries 42,884 27,406 25,878
Equity in earnings of subsidiaries 0 0 0
Earnings from operations 42,884 27,406 25,878
Other components of net periodic benefit costs 0 0 0
Interest expense 0 0 0
Pretax earnings 42,884 27,406 25,878
Income tax expense (8,956) (5,698) (2,989)
Earnings available to common shareholders 33,928 21,708 22,889
Operating Segments [Member] | Life Insurance [Member]      
Revenues:      
Self-moving equipment rentals 0 0 0
Self-storage revenues 0 0 0
Self-moving and self-storage products and service sales 0 0 0
Property management fees 0 0 0
Life insurance premiums 127,976 63,488 154,703
Property and casualty insurance premiums 0 0 0
Net investment and interest income 109,018 86,395 84,158
Other revenue 4,470 4,831 5,001
Total revenues 241,464 154,714 243,862
Costs and expenses:      
Operating expenses 21,425 14,613 22,061
Commission expenses 0 0 0
Cost of sales 0 0 0
Benefits and losses 162,426 86,064 169,328
Amortization of deferred policy acquisition costs 31,219 28,556 24,514
Lease expense 0 0 0
Depreciation, net of (gains) losses on disposals 0 0 0
Net gains on disposal of real estate 0 0 0
Total costs and expenses 215,070 129,233 215,903
Earnings from operations before equity in earnings of subsidiaries 26,394 25,481 27,959
Equity in earnings of subsidiaries 0 0 0
Earnings from operations 26,394 25,481 27,959
Other components of net periodic benefit costs 0 0 0
Interest expense 0 0 0
Pretax earnings 26,394 25,481 27,959
Income tax expense (4,533) (5,378) (3,858)
Earnings available to common shareholders 21,861 20,103 24,101
Eliminations [Member]      
Revenues:      
Self-moving equipment rentals (4,103) (2,830) (4,214)
Self-storage revenues 0 0 0
Self-moving and self-storage products and service sales 0 0 0
Property management fees 0 0 0
Life insurance premiums 0 0 0
Property and casualty insurance premiums (3,088) (2,635) (1,700)
Net investment and interest income (1,705) (1,667) (1,688)
Other revenue (530) (521) (384)
Total revenues (9,426) (7,653) (7,986)
Costs and expenses:      
Operating expenses (7,702) (5,968) (6,412)
Commission expenses 0 0 0
Cost of sales 0 0 0
Benefits and losses 0 0 0
Amortization of deferred policy acquisition costs 0 0 0
Lease expense (612) (544) (283)
Depreciation, net of (gains) losses on disposals 0 0 0
Net gains on disposal of real estate 0 0 0
Total costs and expenses (8,314) (6,512) (6,695)
Earnings from operations before equity in earnings of subsidiaries (1,112) (1,141) (1,291)
Equity in earnings of subsidiaries (55,789) (41,811) (46,990)
Earnings from operations (56,901) (42,952) (48,281)
Other components of net periodic benefit costs 0 0 0
Interest expense 1,112 1,141 1,291
Pretax earnings (55,789) (41,811) (46,990)
Income tax expense 0 0 0
Earnings available to common shareholders $ (55,789) $ (41,811) $ (46,990)
v3.20.1
Consolidating financial information by industry segment (Cash Flow Statements) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Cash flow from operating activities:      
Net earnings $ 442,048 $ 370,857 $ 790,583
Earnings from consolidated subsidiaries 0 0 0
Adjustments to reconcile net earnings to cash provided by operations:      
Depreciation 664,120 581,025 555,069
Amortization of deferred policy acquisition costs 31,219 28,556 24,514
Amortization of premiums and accretion of discounts related to investments, net 13,317 13,107 12,790
Amortization of debt issuance costs 4,426 3,923 3,868
Interest credited to policyholders 51,857 35,387 32,302
Change in allowance for losses on trade receivables (14) 52 (120)
Change in allowance for inventory reserves 640 (146) 5,065
Net gains on disposal of real estate (758) (44) (195,414)
Net gains on sales of investments (13,596) (2,663) (6,269)
Net losses on equity investments (3,783) 5,739 0
Deferred income taxes 317,893 106,811 (193,434)
Net change in other operating assets and liabilities:      
Reinsurance recoverables and trade receivables 38,129 (31,365) (15,329)
Inventories and parts 1,776 (13,492) (12,384)
Prepaid expenses (391,120) (8,620) (40,765)
Capitalization of deferred policy acquisition costs (24,447) (25,957) (27,350)
Other assets (1,295) 157,152 (165,968)
Related party assets (5,645) 4,194 53,408
Accounts payable and accrued expenses (4,530) 10,263 (36,980)
Policy benefits and losses, claims and loss expenses payable (12,618) (236,120) 161,121
Other policyholders' funds and liabilities (4,857) 5,007 (109)
Deferred income (1,818) 966 5,524
Related party liabilities 1,626 (2,067) (616)
Net cash provided by operating activities 1,075,513 975,583 937,684
Cash flow from investing activities:      
Escrow deposits 6,617 4,299 31,362
Purchase of:      
Property, plant and equipment (2,309,406) (1,869,968) (1,363,745)
Short term investments (61,226) (54,048) (63,556)
Fixed maturities investments (379,349) (540,045) (390,900)
Equity securities (83) (957) (662)
Preferred stock 0 0 (1,000)
Real estate (4,286) (635) (1,939)
Mortgage loans (62,016) (63,611) (83,507)
Proceeds from sale and paydowns of:      
Property, plant and equipment 687,375 606,271 699,803
Short term investments 59,056 66,037 67,790
Fixed maturities investments 268,636 123,551 163,469
Equity securities 185 8,608 0
Preferred stock 2,375 1,625 4,208
Real estate 311 0 2,783
Mortgage loans 25,162 147,737 37,590
Net cash used by investing activities (1,766,649) (1,571,136) (898,304)
Cash flow from financing activities:      
Borrowings from credit facilities 1,121,412 897,311 498,464
Principal repayments on credit facilities (349,986) (299,748) (356,451)
Debt issuance costs (5,332) (7,243) (5,111)
Capital lease payments (307,782) (303,431) (296,363)
Employee stock ownership plan     (11,640)
Securitization deposits 0 0 (2,180)
Common stock dividends paid (29,404) (39,179) (29,380)
Net contribution from (to) related party 0    
Investment contract deposits 234,640 400,123 401,814
Investment contract withdrawals (151,022) (132,833) (182,549)
Net cash provided by financing activities 512,320 514,582 16,604
Effects of exchange rate on cash (533) (4,716) 5,598
Increase (decrease) in cash and cash equivalents (179,349) (85,687) 61,582
Cash and cash equivalents at the beginning of period 673,701 759,388 697,806
Cash and cash equivalents at the end of the period 494,352 673,701 759,388
Operating Segments [Member] | Moving and Storage Consolidations [Member]      
Cash flow from operating activities:      
Net earnings 442,048 370,857 790,583
Earnings from consolidated subsidiaries (55,789) (41,811) (46,990)
Adjustments to reconcile net earnings to cash provided by operations:      
Depreciation 664,120 581,025 555,069
Amortization of deferred policy acquisition costs 0 0 0
Amortization of premiums and accretion of discounts related to investments, net 0 0 0
Amortization of debt issuance costs 4,426 3,923 3,868
Interest credited to policyholders 0 0 0
Change in allowance for losses on trade receivables (14) 57 (31)
Change in allowance for inventory reserves 640 (146) 5,065
Net gains on disposal of personal property (27,057) (26,982) (11,822)
Net gains on disposal of real estate (758) (44) (195,414)
Net gains on sales of investments 0 0 0
Net losses on equity investments 0 0  
Deferred income taxes 323,980 112,434 (182,358)
Net change in other operating assets and liabilities:      
Reinsurance recoverables and trade receivables 30,771 (26,160) (23,444)
Inventories and parts 1,776 (13,492) (12,384)
Prepaid expenses (391,120) (8,620) (40,765)
Capitalization of deferred policy acquisition costs 0 0 0
Other assets (3,099) 159,126 (167,579)
Related party assets (5,106) 3,857 48,855
Accounts payable and accrued expenses (4,428) 6,454 (36,384)
Policy benefits and losses, claims and loss expenses payable 3,092 (159,793) 168,687
Other policyholders' funds and liabilities 0 0 0
Deferred income (1,818) 966 5,524
Related party liabilities (1,170) (2,711) (1,884)
Net cash provided by operating activities 980,494 958,940 858,596
Cash flow from investing activities:      
Escrow deposits 6,617 4,299 31,362
Purchase of:      
Property, plant and equipment (2,309,406) (1,869,968) (1,363,745)
Short term investments 0 0 0
Fixed maturities investments 0 0 0
Equity securities 0 0 0
Preferred stock 0 0 0
Real estate 0 (236) (1,365)
Mortgage loans 0 0 0
Proceeds from sale and paydowns of:      
Property, plant and equipment 687,375 606,271 699,803
Short term investments 0 0 0
Fixed maturities investments 0 0 0
Equity securities 0 0  
Preferred stock 0 0 0
Real estate 311 0 2,783
Mortgage loans 0 0 0
Net cash used by investing activities (1,615,103) (1,259,634) (631,162)
Cash flow from financing activities:      
Borrowings from credit facilities 1,118,912 897,311 498,464
Principal repayments on credit facilities (347,486) (299,748) (356,451)
Debt issuance costs (5,332) (7,243) (5,111)
Capital lease payments (307,782) (303,431) (296,363)
Employee stock ownership plan (206) (418) (11,640)
Securitization deposits 0   (2,180)
Common stock dividends paid (29,404) (39,179) (29,380)
Net contribution from (to) related party 21,600    
Investment contract deposits 0 0 0
Investment contract withdrawals 0 0 0
Net cash provided by financing activities 450,302 247,292 (202,661)
Effects of exchange rate on cash (533) (4,716) 5,598
Increase (decrease) in cash and cash equivalents (184,840) (58,118) 30,371
Cash and cash equivalents at the beginning of period 643,918 702,036 671,665
Cash and cash equivalents at the end of the period 459,078 643,918 702,036
Operating Segments [Member] | Property and Casualty Insurance [Member]      
Cash flow from operating activities:      
Net earnings 33,928 21,708 22,889
Earnings from consolidated subsidiaries 0 0 0
Adjustments to reconcile net earnings to cash provided by operations:      
Depreciation 0 0 0
Amortization of deferred policy acquisition costs 0 0 0
Amortization of premiums and accretion of discounts related to investments, net 1,469 1,361 1,356
Amortization of debt issuance costs 0 0 0
Interest credited to policyholders 0 0 0
Change in allowance for losses on trade receivables 0 0 0
Change in allowance for inventory reserves 0 0 0
Net gains on disposal of personal property 0 0 0
Net gains on disposal of real estate 0 0 0
Net gains on sales of investments (355) (2,971) (1,703)
Net losses on equity investments (3,783) 5,739  
Deferred income taxes (2,847) 830 (6,596)
Net change in other operating assets and liabilities:      
Reinsurance recoverables and trade receivables 8,127 (2,438) 8,075
Inventories and parts 0 0 0
Prepaid expenses 0 0 0
Capitalization of deferred policy acquisition costs 0 0 0
Other assets 2,098 (1,449) 1,810
Related party assets (539) 339 4,553
Accounts payable and accrued expenses 2,688 257 648
Policy benefits and losses, claims and loss expenses payable (19,618) (4,400) (10,623)
Other policyholders' funds and liabilities 491 (117) 1,194
Deferred income 0 0 0
Related party liabilities 819 944 318
Net cash provided by operating activities 22,478 19,803 21,921
Cash flow from investing activities:      
Escrow deposits 0 0 0
Purchase of:      
Property, plant and equipment 0 0 0
Short term investments (60,590) (53,878) (63,556)
Fixed maturities investments (13,001) (33,775) (51,273)
Equity securities 0 0 0
Preferred stock 0 0 (1,000)
Real estate (328) (187) (440)
Mortgage loans (18,050) (20,031) (14,409)
Proceeds from sale and paydowns of:      
Property, plant and equipment 0 0 0
Short term investments 59,056 58,767 61,133
Fixed maturities investments 25,386 12,305 21,670
Equity securities 185 8,608  
Preferred stock 1,375 1,625 4,208
Real estate 0 0 0
Mortgage loans 4,126 5,881 15,660
Net cash used by investing activities (1,841) (20,685) (28,007)
Cash flow from financing activities:      
Borrowings from credit facilities 0 0 0
Principal repayments on credit facilities 0 0 0
Debt issuance costs 0 0 0
Capital lease payments 0 0 0
Employee stock ownership plan 0 0 0
Securitization deposits 0   0
Common stock dividends paid 0 0 0
Net contribution from (to) related party (21,600)    
Investment contract deposits 0 0 0
Investment contract withdrawals 0 0 0
Net cash provided by financing activities (21,600) 0 0
Effects of exchange rate on cash 0 0 0
Increase (decrease) in cash and cash equivalents (963) (882) (6,086)
Cash and cash equivalents at the beginning of period 5,757 6,639 12,725
Cash and cash equivalents at the end of the period 4,794 5,757 6,639
Operating Segments [Member] | Life Insurance [Member]      
Cash flow from operating activities:      
Net earnings 21,861 20,103 24,101
Earnings from consolidated subsidiaries 0 0 0
Adjustments to reconcile net earnings to cash provided by operations:      
Depreciation 0 0 0
Amortization of deferred policy acquisition costs 31,219 28,556 24,514
Amortization of premiums and accretion of discounts related to investments, net 11,848 11,746 11,434
Amortization of debt issuance costs 0 0 0
Interest credited to policyholders 51,857 35,387 32,302
Change in allowance for losses on trade receivables 0 (5) (89)
Change in allowance for inventory reserves 0 0 0
Net gains on disposal of personal property 0 0 0
Net gains on disposal of real estate 0 0 0
Net gains on sales of investments (13,241) 308 (4,566)
Net losses on equity investments 0 0  
Deferred income taxes (3,240) (6,453) (4,480)
Net change in other operating assets and liabilities:      
Reinsurance recoverables and trade receivables (769) (2,767) 40
Inventories and parts 0 0 0
Prepaid expenses 0 0 0
Capitalization of deferred policy acquisition costs (24,447) (25,957) (27,350)
Other assets (294) (525) (199)
Related party assets 0 (2) 0
Accounts payable and accrued expenses (2,790) 3,552 (1,244)
Policy benefits and losses, claims and loss expenses payable 3,908 (71,927) 3,057
Other policyholders' funds and liabilities (5,348) 5,124 (1,303)
Deferred income 0 0 0
Related party liabilities 1,977 (300) 950
Net cash provided by operating activities 72,541 (3,160) 57,167
Cash flow from investing activities:      
Escrow deposits 0 0 0
Purchase of:      
Property, plant and equipment 0 0 0
Short term investments (636) (170) 0
Fixed maturities investments (366,348) (506,270) (339,627)
Equity securities (83) (957) (662)
Preferred stock 0 0 0
Real estate (3,958) (212) (134)
Mortgage loans (43,966) (43,580) (69,098)
Proceeds from sale and paydowns of:      
Property, plant and equipment 0 0 0
Short term investments 0 7,270 6,657
Fixed maturities investments 243,250 111,246 141,799
Equity securities 0 0  
Preferred stock 1,000 0 0
Real estate 0 0 0
Mortgage loans 21,036 141,856 21,930
Net cash used by investing activities (149,705) (290,817) (239,135)
Cash flow from financing activities:      
Borrowings from credit facilities 2,500 0 0
Principal repayments on credit facilities (2,500) 0 0
Debt issuance costs 0 0 0
Capital lease payments 0 0 0
Employee stock ownership plan 0 0 0
Securitization deposits 0   0
Common stock dividends paid 0 0 0
Net contribution from (to) related party 0    
Investment contract deposits 234,640 400,123 401,814
Investment contract withdrawals (151,022) (132,833) (182,549)
Net cash provided by financing activities 83,618 267,290 219,265
Effects of exchange rate on cash 0 0 0
Increase (decrease) in cash and cash equivalents 6,454 (26,687) 37,297
Cash and cash equivalents at the beginning of period 24,026 50,713 13,416
Cash and cash equivalents at the end of the period 30,480 24,026 50,713
Eliminations [Member]      
Cash flow from operating activities:      
Net earnings (55,789) (41,811) (46,990)
Earnings from consolidated subsidiaries 55,789 41,811 46,990
Adjustments to reconcile net earnings to cash provided by operations:      
Depreciation 0 0 0
Amortization of deferred policy acquisition costs 0 0 0
Amortization of premiums and accretion of discounts related to investments, net 0 0 0
Amortization of debt issuance costs 0 0 0
Interest credited to policyholders 0 0 0
Change in allowance for losses on trade receivables 0 0 0
Change in allowance for inventory reserves 0 0 0
Net gains on disposal of personal property 0 0 0
Net gains on disposal of real estate 0 0 0
Net gains on sales of investments 0 0 0
Net losses on equity investments 0 0  
Deferred income taxes 0 0 0
Net change in other operating assets and liabilities:      
Reinsurance recoverables and trade receivables 0 0 0
Inventories and parts 0 0 0
Prepaid expenses 0 0 0
Capitalization of deferred policy acquisition costs 0 0 0
Other assets 0 0 0
Related party assets 0 0 0
Accounts payable and accrued expenses 0 0 0
Policy benefits and losses, claims and loss expenses payable 0 0 0
Other policyholders' funds and liabilities 0 0 0
Deferred income 0 0 0
Related party liabilities 0 0 0
Net cash provided by operating activities 0 0 0
Cash flow from investing activities:      
Escrow deposits 0 0 0
Purchase of:      
Property, plant and equipment 0 0 0
Short term investments 0 0 0
Fixed maturities investments 0 0 0
Equity securities 0 0 0
Preferred stock 0 0 0
Real estate 0 0 0
Mortgage loans 0 0 0
Proceeds from sale and paydowns of:      
Property, plant and equipment 0 0 0
Short term investments 0 0 0
Fixed maturities investments 0 0 0
Equity securities 0 0  
Preferred stock 0 0 0
Real estate 0 0 0
Mortgage loans 0 0 0
Net cash used by investing activities 0 0 0
Cash flow from financing activities:      
Borrowings from credit facilities 0 0 0
Principal repayments on credit facilities 0 0 0
Debt issuance costs 0 0 0
Capital lease payments 0 0 0
Employee stock ownership plan 0 0 0
Securitization deposits 0   0
Common stock dividends paid 0 0 0
Net contribution from (to) related party 0    
Investment contract deposits 0 0 0
Investment contract withdrawals 0 0 0
Net cash provided by financing activities 0 0 0
Effects of exchange rate on cash 0 0 0
Increase (decrease) in cash and cash equivalents 0 0 0
Cash and cash equivalents at the beginning of period 0 0 0
Cash and cash equivalents at the end of the period $ 0 $ 0 $ 0
v3.20.1
Revenue Recognition (Revenue Over Time) (Details)
$ in Thousands
Mar. 31, 2020
USD ($)
Contract With Customer Liability [Abstract]  
2021 $ 22,854
2022 16,927
2023 13,250
2024 9,834
2025 7,102
Thereafter 58,379
Self Moving Equipment  
Contract With Customer Liability [Abstract]  
2021 2,139
2022 0
2023 0
2024 0
2025 0
Thereafter 0
Property Lease Revenue  
Contract With Customer Liability [Abstract]  
2021 20,715
2022 16,927
2023 13,250
2024 9,834
2025 7,102
Thereafter $ 58,379
v3.20.1
Revenue Recognition (Revenue disaggregated by timing of revenue recognition) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Revenue From Contract With Customer [Abstract]      
Revenues recognized over time $ 147,565 $ 2,814,732 $ 2,617,990
Revenues recognized at point in time 309,804 305,408 301,152
Total revenues recognized under ASC 606 457,369 3,120,140 2,919,142
Revenues recognized under ASC 840 3,182,902 406,070 353,924
Revenues recognized under ASC 944 200,768 131,563 217,575
Revenues recognized under ASC 320 137,829 110,934 110,473
Total revenues $ 3,978,868 $ 3,768,707 $ 3,601,114
v3.20.1
Subsequent Events (Narratives) (Details) - USD ($)
$ in Thousands
 1 Months Ended 12 Months Ended
May 31, 2020
Apr. 30, 2020
Mar. 31, 2020
Apr. 01, 2020
Debt Instruments [Abstract]        
Subsidiary cash dividend paid to parent     $ 0  
Subsequent Event [Member] | Long Term Debt [Member]        
Debt Instruments [Abstract]        
Expansion of credit facility, borrowed amount   $ 50,000    
Subsequent Event [Member] | Short Term Debt [Member]        
Debt Instruments [Abstract]        
Short term line of credit $ 200,000      
Debt Instrument, Interest Rate, Effective Percentage [Abstract]        
Sum of LIBOR and margin, maximum rate       2.00%
Subsequent Event [Member] | Dividend Paid [Member]        
Debt Instruments [Abstract]        
Subsidiary cash dividend paid to parent   $ 18,600    
v3.20.1
Schedule I - Condensed Financial Information of AMERCO (Narratives) (Details)
$ in Thousands
 12 Months Ended
Mar. 31, 2020
USD ($)
Income Taxes Paid, Net [Abstract]  
Income taxes paid (net of income tax refunds) $ 6,859
v3.20.1
Schedule I - Condensed Financial Information of AMERCO (Balance Sheets) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Mar. 31, 2017
ASSETS:        
Cash and cash equivalents $ 494,352 $ 673,701 $ 759,388 $ 697,806
Investments in subsidiaries 0 0    
Related party assets 34,784 30,889    
Total assets 13,438,024 11,891,713 10,747,422  
Liabilities:        
Other Liabilities 9,217,304 8,199,324    
Stockholders' equity:        
Additional paid-in capital 453,819 453,326    
Accumulated other comprehensive loss 34,652 (66,698)    
Consolidated statement of change in equity        
Beginning of period 3,976,962      
Adjustments for adoption of ASU 2016-01   0    
Net earnings 442,048 370,857 790,583  
End of period 4,399,402 3,976,962    
Total stockholders' equity 4,220,720 3,692,389    
Total liabilities and stockholders' equity 13,438,024 11,891,713    
Common Stock in Treasury [Member]        
Consolidated statement of change in equity        
Cost of shares in treasury (525,653) (525,653)    
Preferred Stock in Treasury [Member]        
Consolidated statement of change in equity        
Cost of shares in treasury (151,997) (151,997)    
Amerco [Member]        
ASSETS:        
Cash and cash equivalents 294,528 428,950 469,209 $ 361,231
Investments in subsidiaries 2,758,509 2,474,671    
Related party assets 1,734,358 1,424,274    
Other assets 502,064 120,896    
Total assets 5,289,459 4,448,791    
Liabilities:        
Other Liabilities 1,068,291 754,115    
Stockholders' equity:        
Preferred stock 0 0    
Common stock 10,497 10,497    
Additional paid-in capital 454,029 453,536    
Accumulated other comprehensive loss 35,100 (68,459)    
Consolidated statement of change in equity        
Adjustments for adoption of ASU 2016-01 0 9,724    
Net earnings 442,048 370,857 $ 790,583  
Dividends (19,608) (39,180)    
Total stockholders' equity 4,221,168 3,694,676    
Total liabilities and stockholders' equity 5,289,459 4,448,791    
Amerco [Member] | Common Stock in Treasury [Member]        
Consolidated statement of change in equity        
Cost of shares in treasury (525,653) (525,653)    
Amerco [Member] | Preferred Stock in Treasury [Member]        
Consolidated statement of change in equity        
Cost of shares in treasury $ (151,997) $ (151,997)    
v3.20.1
Schedule I - Condensed Financial Information of AMERCO (Statements of Operations) (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Revenues:      
Net interest income from subs $ 3,978,868 $ 3,768,707 $ 3,601,114
Expenses:      
Operating expenses 2,117,148 1,981,180 1,807,056
Total costs and expenses 3,438,740 3,147,720 2,835,868
Equity in earnings of subsidiaries 0 0 0
Pretax earnings 378,124 477,529 637,613
Earnings available to common shareholders $ 442,048 $ 370,857 $ 790,583
Basic and diluted earnings per common share $ 22.55 $ 18.93 $ 40.36
Weighted average common shares outstanding: basic and diluted 19,603,708 19,592,048 19,588,889
Amerco [Member]      
Revenues:      
Net interest income from subs $ 6,586 $ 8,601 $ 4,606
Expenses:      
Operating expenses 10,622 8,840 7,003
Other expenses 96 93 91
Total costs and expenses 10,718 8,933 7,094
Equity in earnings of subsidiaries 205,940 279,589 681,786
Interest income 130,670 112,649 120,549
Pretax earnings 332,478 391,906 799,847
Income tax expense 109,570 (21,049) (9,264)
Earnings available to common shareholders $ 442,048 $ 370,857 $ 790,583
Basic and diluted earnings per common share $ 22.55 $ 18.93 $ 40.36
Weighted average common shares outstanding: basic and diluted 19,603,708 19,592,048 19,588,889
v3.20.1
Schedule I - Condensed Financial Information Of AMERCO (Statements of Comprehensive Income) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Net earnings $ 442,048 $ 370,857 $ 790,583
Amerco [Member]      
Net earnings 442,048 370,857 790,583
Other comprehensive income (loss) 101,350 (62,075) 37,873
Total comprehensive income $ 543,398 $ 308,782 $ 828,456
v3.20.1
Schedule I - Condensed Financial Information of AMERCO (Statements of Cash Flow) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Cash flow from operating activities:      
Net earnings $ 442,048 $ 370,857 $ 790,583
Earnings from consolidated subsidiaries 0 0 0
Adjustments to reconcile net earnings to cash provided by operations:      
Depreciation 664,120 581,025 555,069
Net loss on sales of investments (13,596) (2,663) (6,269)
Deferred income taxes 317,893 106,811 (193,434)
Net change in other operating assets and liabilities:      
Reinsurance recoverables and trade receivables 38,129 (31,365) (15,329)
Prepaid expenses (391,120) (8,620) (40,765)
Other assets (1,295) 157,152 (165,968)
Related party assets (5,645) 4,194 53,408
Accounts payable and accrued expenses (4,530) 10,263 (36,980)
Net cash provided by operating activities 1,075,513 975,583 937,684
Cash flow from investing activities:      
Purchases of property, plant and equipment (2,309,406) (1,869,968) (1,363,745)
Proceeds of equity securities 185 8,608 0
Net cash used by investing activities (1,766,649) (1,571,136) (898,304)
Cash flow from financing activities:      
Common stock dividends paid (29,404) (39,179) (29,380)
Net contribution from (to) related party 0    
Net Cash Provided by (Used in) Financing Activities 512,320 514,582 16,604
Effects of exchange rate on cash (533) (4,716) 5,598
Increase (decrease) in cash and cash equivalents (179,349) (85,687) 61,582
Cash and cash equivalents at the beginning of period 673,701 759,388 697,806
Cash and cash equivalents at the end of the period 494,352 673,701 759,388
Amerco [Member]      
Cash flow from operating activities:      
Net earnings 442,048 370,857 790,583
Earnings from consolidated subsidiaries (205,940) (279,589) (681,786)
Adjustments to reconcile net earnings to cash provided by operations:      
Depreciation 1 1 3
Net loss on sales of investments 0 0 0
Deferred income taxes 323,980 112,434 (182,358)
Net change in other operating assets and liabilities:      
Reinsurance recoverables and trade receivables 0 0 0
Prepaid expenses (381,190) (6,289) (36,516)
Other assets 22 (40) 65
Related party assets 0 0 0
Accounts payable and accrued expenses 1,935 2,260 278
Net cash provided by operating activities 180,856 199,634 (109,731)
Cash flow from investing activities:      
Purchases of property, plant and equipment 0 (1) (1)
Proceeds of equity securities 0 0 0
Net cash used by investing activities 0 (1) (1)
Cash flow from financing activities:      
Proceeds from (repayments) of intercompany loans (311,534) (196,382) 250,214
Common stock dividends paid (29,404) (39,179) (29,380)
Net contribution from (to) related party 21,600 0 0
Net Cash Provided by (Used in) Financing Activities (319,338) (235,561) 220,834
Effects of exchange rate on cash 4,060 (4,331) (3,124)
Increase (decrease) in cash and cash equivalents (134,422) (40,259) 107,978
Cash and cash equivalents at the beginning of period 428,950 469,209 361,231
Cash and cash equivalents at the end of the period $ 294,528 $ 428,950 $ 469,209
v3.20.1
Schedule II - AMERCO and Consolidated Subsidiaries, Valuation and Qualifying Accounts (Details) - Amerco [Member] - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Allowance for doubtful accounts (deducted from trade receivable) [Member]      
Movement in Valuation Allowances and Reserves [Roll Forward]      
Balance at beginning of year $ 549 $ 496 $ 585
Additions charged to cost and expenses 731 1,550 886
Additions charged to other accounts 0 0 0
Deductions (745) (1,497) (929)
Balance at year end 535 549 496
Allowance for obsolescence (deducted from inventory) [Member]      
Movement in Valuation Allowances and Reserves [Roll Forward]      
Balance at beginning of year 2,322 5,329 2,050
Additions charged to cost and expenses 741 0 3,279
Additions charged to other accounts 0 0 0
Deductions 0 (3,007) 0
Balance at year end 3,063 2,322 5,329
Allowance for LIFO (deducted from inventory) [Member]      
Movement in Valuation Allowances and Reserves [Roll Forward]      
Balance at beginning of year 18,987 16,126 14,340
Additions charged to cost and expenses 0 2,861 1,786
Additions charged to other accounts 0 0 0
Deductions (101) 0 0
Balance at year end 18,886 18,987 16,126
Allowance for probable losses (deducted from mortgage loans) [Member]      
Movement in Valuation Allowances and Reserves [Roll Forward]      
Balance at beginning of year 493 618 493
Additions charged to cost and expenses 0 0 125
Additions charged to other accounts 0 0 0
Deductions 0 (125) 0
Balance at year end $ 493 $ 493 $ 618
v3.20.1
Schedule V - AMERCO and Consolidated Subsidiaries, Supplemental Information (for Property-Casualty Insurance Operations) (Details) - Property Casualty Insurance Operations [Member] - Amerco [Member] - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Supplemental Information For Property And Casualty Insurance Underwriters [Abstract]      
Deferred policy acquisition costs $ 0 $ 0 $ 0
Reserves for unpaid claims and claims adjustment expense 209,127 228,970 233,554
Unearned premiums 69,138 60,853 57,100
Net earned premiums (1) 19,926 9,373 14,079
Net investment income (2) 22,137 19,579 15,749
Claim and claim adjustment expenses incurred related to current year (9,535) (5,365) 233
Amortization of deferred policy acquisition costs 0 0 0
Paid claims and claim adjustment expense 24,608 19,228 17,366
Net premiums written (1) $ 66,277 $ 61,022 $ 57,123
v3.20.1
Schedule V - AMERCO and Consolidated Subsidiaries, Supplemental Information (for Property-Casualty Insurance Operations), Parenthetical (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Investment Income, Net [Abstract]      
Premiums Earned, Net $ 197,117 $ 124,336 $ 211,803
Property Casualty Insurance Operations [Member] | Amerco [Member]      
Investment Income, Net [Abstract]      
Written premiums, net 3,100 2,800 2,300
Premiums Earned, Net 2,800 2,600 1,700
(Gain) Loss on Investments $ 400 $ 3,000 $ 1,700
v3.20.1
Label Element Value
Amerco [Member]  
Income Taxes Paid, Net us-gaap_IncomeTaxesPaidNet $ 6,900,000