Consolidating Financial Information By Industry Segment (Table Text Block)
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3 Months Ended |
6 Months Ended |
12 Months Ended |
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
Mar. 31, 2021 |
Table Text Block Supplement [Abstract] |
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Consolidated Balance Sheet by Industry Segment |
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Moving & Storage
Consolidated
Property & Casualty Insurance (a)
Life
Insurance (a)
Eliminations
AMERCO
Consolidated
(Unaudited)
(In thousands)
Assets:
Cash and cash equivalents
$
2,393,762
$
7,293
$
29,178
$
–
$
2,430,233
Reinsurance recoverables and trade receivables, net
112,319
67,217
48,399
–
227,935
Inventories and parts, net
142,955
–
–
–
142,955
Prepaid expenses
202,339
–
–
–
202,339
Investments, fixed maturities and marketable equities
–
292,986
2,552,161
–
2,845,147
Investments, other
20,745
105,474
445,723
–
571,942
Deferred policy acquisition costs, net
–
–
97,138
–
97,138
Other assets
48,190
755
2,681
–
51,626
Right of use assets - financing, net
752,990
–
–
–
752,990
Right of use assets - operating, net
84,949
155
133
–
85,237
Related party assets
55,175
8,294
14,325
(39,021)
(c)
38,773
3,813,424
482,174
3,189,738
(39,021)
7,446,315
Investment in subsidiaries
738,116
–
–
(738,116)
(b)
–
Property, plant and equipment, at cost:
Land
1,172,648
–
–
–
1,172,648
Buildings and improvements
5,477,544
–
–
–
5,477,544
Furniture and equipment
811,337
–
–
–
811,337
Rental trailers and other rental equipment
536,814
–
–
–
536,814
Rental trucks
4,278,732
–
–
–
4,278,732
12,277,075
–
–
–
12,277,075
Less:
Accumulated depreciation
(3,386,162)
–
–
–
(3,386,162)
Total property, plant and equipment, net
8,890,913
–
–
–
8,890,913
Total assets
$
13,442,453
$
482,174
$
3,189,738
$
(777,137)
$
16,337,228
(a) Balances as of June 30, 2021
(b) Eliminate investment in subsidiaries
(c) Eliminate intercompany receivables and payables
Consolidating
balance
sheets
by
industry
segment
as
of
September
30,
2021,
continued:
Moving & Storage
Property & Casualty Insurance (a)
Life
Eliminations
AMERCO
(Unaudited)
(In thousands)
Liabilities:
Accounts payable and accrued expenses
$
685,563
$
3,575
$
5,146
$
–
$
694,284
Notes, loans and finance leases payable, net
5,324,373
–
10,905
–
5,335,278
Operating lease liability
84,905
152
142
–
85,199
Policy benefits and losses, claims and loss expenses payable
442,160
179,116
395,229
–
1,016,505
Liabilities from investment contracts
–
–
2,276,829
–
2,276,829
Other policyholders' funds and liabilities
–
3,476
7,467
–
10,943
Deferred income
51,212
–
–
–
51,212
Deferred income taxes, net
1,277,383
13,152
21,746
–
1,312,281
Related party liabilities
25,956
3,600
13,261
(42,817)
(c)
–
Total liabilities
7,891,552
203,071
2,730,725
(42,817)
10,782,531
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)
70,411
19,692
112,519
(128,415)
(b)
74,207
Retained earnings
5,693,614
164,990
317,723
(482,503)
(b)
5,693,824
Cost of common stock in treasury, net
(525,653)
–
–
–
(525,653)
Cost of preferred stock in treasury, net
(151,997)
–
–
–
(151,997)
Total stockholders' equity
5,550,901
279,103
459,013
(734,320)
5,554,697
Total liabilities and stockholders' equity
$
13,442,453
$
482,174
$
3,189,738
$
(777,137)
$
16,337,228
(a) Balances as of June 30, 2021
(b) Eliminate investment in subsidiaries
(c) Eliminate intercompany receivables and payables
|
|
Moving & Storage
Consolidated
Property & Casualty Insurance (a)
Life
Insurance (a)
Eliminations
AMERCO
Consolidated
Assets:
(In thousands)
Cash and cash equivalents
$
1,010,275
$
5,658
$
178,079
$
–
$
1,194,012
Reinsurance recoverables and trade receivables, net
118,741
67,069
38,616
–
224,426
Inventories and parts, net
105,577
–
–
–
105,577
Prepaid expenses
469,144
–
–
–
469,144
Investments, fixed maturities and marketable equities
–
295,753
2,399,903
–
2,695,656
Investments, other
20,733
90,412
378,614
–
489,759
Deferred policy acquisition costs, net
–
–
89,749
–
89,749
Other assets
44,763
436
2,531
–
47,730
Right of use assets - financing, net
877,038
–
–
–
877,038
Right of use assets - operating, net
92,245
92
168
–
92,505
Related party assets
54,042
6,854
13,850
(39,351)
(c)
35,395
2,792,558
466,274
3,101,510
(39,351)
6,320,991
Investment in subsidiaries
741,860
–
–
(741,860)
(b)
–
Property, plant and equipment, at cost:
Land
1,075,813
–
–
–
1,075,813
Buildings and improvements
5,163,705
–
–
–
5,163,705
Furniture and equipment
786,505
–
–
–
786,505
Rental trailers and other rental equipment
477,921
–
–
–
477,921
Rental trucks
3,909,724
–
–
–
3,909,724
11,413,668
–
–
–
11,413,668
Less:
Accumulated depreciation
(3,083,053)
–
–
–
(3,083,053)
Total property, plant and equipment, net
8,330,615
–
–
–
8,330,615
Total assets
$
11,865,033
$
466,274
$
3,101,510
$
(781,211)
$
14,651,606
(a) Balances as of December 31, 2020
(b) Eliminate investment in subsidiaries
(c) Eliminate intercompany receivables and payables
Consolidating
balance
sheets
by
industry
segment
as
of
March
31,
2021,
continued:
Moving & Storage
Property & Casualty Insurance (a)
Life
Eliminations
AMERCO
(In thousands)
Liabilities:
Accounts payable and accrued expenses
$
636,257
$
2,029
$
7,289
$
–
$
645,575
Notes, loans and finance leases payable, net
4,657,720
–
11,187
–
4,668,907
Operating lease liability
92,236
96
178
–
92,510
Policy benefits and losses, claims and loss expenses payable
427,073
178,942
391,686
–
997,701
Liabilities from investment contracts
–
–
2,161,530
–
2,161,530
Other policyholders' funds and liabilities
–
3,698
8,722
–
12,420
Deferred income
42,592
–
–
–
42,592
Deferred income taxes, net
1,136,149
13,046
29,294
–
1,178,489
Related party liabilities
25,413
5,821
12,406
(43,640)
(c)
–
Total liabilities
7,017,440
203,632
2,622,292
(43,640)
9,799,724
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)
102,568
22,546
140,817
(159,074)
(b)
106,857
Retained earnings
4,958,149
145,675
309,630
(455,095)
(b)
4,958,359
Cost of common stock in treasury, net
(525,653)
–
–
–
(525,653)
Cost of preferred stock in treasury, net
(151,997)
–
–
–
(151,997)
Total stockholders' equity
4,847,593
262,642
479,218
(737,571)
4,851,882
Total liabilities and stockholders' equity
$
11,865,033
$
466,274
$
3,101,510
$
(781,211)
$
14,651,606
(a) Balances as of December 31, 2020
(b) Eliminate investment in subsidiaries
(c) Eliminate intercompany receivables and payables
|
Consolidated Statement of Operations by Industry Segment |
Moving & Storage
Property & Casualty Insurance (a)
Life
Eliminations
AMERCO
(Unaudited)
(In thousands)
Revenues:
Self-moving equipment rentals
$
1,180,329
$
–
$
–
$
(1,268)
(c)
$
1,179,061
Self-storage revenues
153,485
–
–
–
153,485
Self-moving and self-storage products and service sales
92,191
–
–
–
92,191
Property management fees
8,747
–
–
–
8,747
Life insurance premiums
–
–
28,913
–
28,913
Property and casualty insurance premiums
–
23,357
–
(858)
(c)
22,499
Net investment and interest income
675
6,182
30,942
(1,019)
(b)
36,780
Other revenue
141,572
–
1,130
(124)
(b)
142,578
Total revenues
1,576,999
29,539
60,985
(3,269)
1,664,254
Costs and expenses:
Operating expenses
682,329
10,768
5,223
(2,246)
(b,c)
696,074
Commission expenses
127,896
–
–
–
127,896
Cost of sales
66,491
–
–
–
66,491
Benefits and losses
–
3,560
41,070
–
44,630
Amortization of deferred policy acquisition costs
–
–
6,750
–
6,750
Lease expense
8,024
22
29
(634)
(b)
7,441
Depreciation, net of gains on disposal
135,748
–
–
–
135,748
Net losses on disposal of real estate
523
–
–
–
523
Total costs and expenses
1,021,011
14,350
53,072
(2,880)
1,085,553
Earnings from operations before equity in earnings of subsidiaries
555,988
15,189
7,913
(389)
578,701
Equity in earnings of subsidiaries
18,289
–
–
(18,289)
(d)
–
Earnings from operations
574,277
15,189
7,913
(18,678)
578,701
Other components of net periodic benefit costs
(280)
–
–
–
(280)
Interest expense
(39,814)
–
(120)
389
(b)
(39,545)
Pretax earnings
534,183
15,189
7,793
(18,289)
538,876
Income tax expense
(124,285)
(3,176)
(1,517)
–
(128,978)
Earnings available to common stockholders
$
409,898
$
12,013
$
6,276
$
(18,289)
$
409,898
(a) Balances for the quarter ended June 30, 2021
(b) Eliminate intercompany lease / interest income
(c) Eliminate intercompany premiums
(d) Eliminate equity in earnings of subsidiaries
|
Moving & Storage
Property & Casualty Insurance (a)
Life
Eliminations
AMERCO
(Unaudited)
(In thousands)
Revenues:
Self-moving equipment rentals
$
931,814
$
–
$
–
$
(784)
(c)
$
931,030
Self-storage revenues
115,273
–
–
–
115,273
Self-moving and self-storage products and service sales
98,628
–
–
–
98,628
Property management fees
7,840
–
–
–
7,840
Life insurance premiums
–
–
31,057
–
31,057
Property and casualty insurance premiums
–
16,721
–
(852)
(c)
15,869
Net investment and interest income
595
5,952
27,651
(865)
(b)
33,333
Other revenue
91,168
–
852
(142)
(b)
91,878
Total revenues
1,245,318
22,673
59,560
(2,643)
1,324,908
Costs and expenses:
Operating expenses
562,798
8,166
4,893
(1,774)
(b,c)
574,083
Commission expenses
99,365
–
–
–
99,365
Cost of sales
60,933
–
–
–
60,933
Benefits and losses
–
2,438
43,014
–
45,452
Amortization of deferred policy acquisition costs
–
–
5,552
–
5,552
Lease expense
7,403
–
61
(594)
(b)
6,870
Depreciation, net of gains on disposal
137,438
–
–
–
137,438
Net losses on disposal of real estate
3,425
–
–
–
3,425
Total costs and expenses
871,362
10,604
53,520
(2,368)
933,118
Earnings from operations before equity in earnings of subsidiaries
373,956
12,069
6,040
(275)
391,790
Equity in earnings of subsidiaries
14,338
–
–
(14,338)
(d)
–
Earnings from operations
388,294
12,069
6,040
(14,613)
391,790
Other components of net periodic benefit costs
(246)
–
–
–
(246)
Interest expense
(40,800)
–
–
275
(b)
(40,525)
Pretax earnings
347,248
12,069
6,040
(14,338)
351,019
Income tax expense
(80,883)
(2,554)
(1,217)
–
(84,654)
Earnings available to common stockholders
$
266,365
$
9,515
$
4,823
$
(14,338)
$
266,365
(a) Balances for the quarter ended June 30, 2020
(b) Eliminate intercompany lease / interest income
(c) Eliminate intercompany premiums
(d) Eliminate equity in earnings of subsidiaries
|
Moving & Storage
Property & Casualty Insurance (a)
Life
Eliminations
AMERCO
(Unaudited)
(In thousands)
Revenues:
Self-moving equipment rentals
$
2,216,542
$
–
$
–
$
(2,104)
(c)
$
2,214,438
Self-storage revenues
290,878
–
–
–
290,878
Self-moving and self-storage products and service sales
197,076
–
–
–
197,076
Property management fees
17,196
–
–
–
17,196
Life insurance premiums
–
–
57,618
–
57,618
Property and casualty insurance premiums
–
40,800
–
(1,432)
(c)
39,368
Net investment and interest income
1,355
12,195
60,266
(2,037)
(b)
71,779
Other revenue
247,206
–
1,760
(209)
(b)
248,757
Total revenues
2,970,253
52,995
119,644
(5,782)
3,137,110
Costs and expenses:
Operating expenses
1,284,160
19,581
10,598
(3,736)
(b,c)
1,310,603
Commission expenses
241,045
–
–
–
241,045
Cost of sales
136,406
–
–
–
136,406
Benefits and losses
–
8,787
83,141
–
91,928
Amortization of deferred policy acquisition costs
–
–
15,573
–
15,573
Lease expense
16,101
206
53
(1,272)
(b)
15,088
Depreciation, net of gains on disposal
257,465
–
–
–
257,465
Net gains on disposal of real estate
(3,907)
–
–
–
(3,907)
Total costs and expenses
1,931,270
28,574
109,365
(5,008)
2,064,201
Earnings from operations before equity in earnings of subsidiaries
1,038,983
24,421
10,279
(774)
1,072,909
Equity in earnings of subsidiaries
27,408
–
–
(27,408)
(d)
–
Earnings from operations
1,066,391
24,421
10,279
(28,182)
1,072,909
Other components of net periodic benefit costs
(560)
–
–
–
(560)
Interest expense
(79,257)
–
(240)
774
(b)
(78,723)
Pretax earnings
986,574
24,421
10,039
(27,408)
993,626
Income tax expense
(231,501)
(5,106)
(1,946)
–
(238,553)
Earnings available to common stockholders
$
755,073
$
19,315
$
8,093
$
(27,408)
$
755,073
(a) Balances for the six months ended June 30, 2021
(b) Eliminate intercompany lease / interest income
(c) Eliminate intercompany premiums
(d) Eliminate equity in earnings of subsidiaries
|
Moving & Storage
Property & Casualty Insurance (a)
Life
Eliminations
AMERCO
(Unaudited)
(In thousands)
Revenues:
Self-moving equipment rentals
$
1,586,727
$
–
$
–
$
(1,412)
(c)
$
1,585,315
Self-storage revenues
224,228
–
–
–
224,228
Self-moving and self-storage products and service sales
189,978
–
–
–
189,978
Property management fees
15,187
–
–
–
15,187
Life insurance premiums
–
–
61,965
–
61,965
Property and casualty insurance premiums
–
31,228
–
(1,625)
(c)
29,603
Net investment and interest income
1,257
5,079
45,657
(1,678)
(b)
50,315
Other revenue
154,241
–
1,591
(278)
(b)
155,554
Total revenues
2,171,618
36,307
109,213
(4,993)
2,312,145
Costs and expenses:
Operating expenses
1,042,879
16,991
10,181
(3,306)
(b,c)
1,066,745
Commission expenses
168,540
–
–
–
168,540
Cost of sales
113,764
–
–
–
113,764
Benefits and losses
–
6,468
78,561
–
85,029
Amortization of deferred policy acquisition costs
–
–
12,440
–
12,440
Lease expense
14,540
1
71
(1,139)
(b)
13,473
Depreciation, net of gains on disposal
303,109
–
–
–
303,109
Net losses on disposal of real estate
3,169
–
–
–
3,169
Total costs and expenses
1,646,001
23,460
101,253
(4,445)
1,766,269
Earnings from operations before equity in earnings of subsidiaries
525,617
12,847
7,960
(548)
545,876
Equity in earnings of subsidiaries
16,733
–
–
(16,733)
(d)
–
Earnings from operations
542,350
12,847
7,960
(17,281)
545,876
Other components of net periodic benefit costs
(493)
–
–
–
(493)
Interest expense
(80,594)
–
–
548
(b)
(80,046)
Pretax earnings
461,263
12,847
7,960
(16,733)
465,337
Income tax expense
(107,172)
(2,716)
(1,358)
–
(111,246)
Earnings available to common stockholders
$
354,091
$
10,131
$
6,602
$
(16,733)
$
354,091
(a) Balances for the six months ended June 30, 2020
(b) Eliminate intercompany lease / interest income
(c) Eliminate intercompany premiums
(d) Eliminate equity in earnings of subsidiaries
|
|
Consolidated Cash Flow Statement by Industry Segment |
|
|
Moving & Storage
Consolidated
Property & Casualty
Insurance (a)
Life
Insurance (a)
Elimination
AMERCO
Consolidated
(Unaudited)
Cash flows from operating activities:
(In thousands)
Net earnings
$
755,073
$
19,315
$
8,093
$
(27,408)
$
755,073
Earnings from consolidated entities
(27,408)
–
–
27,408
–
Adjustments to reconcile net earnings to the cash provided by operations:
Depreciation
343,863
–
–
–
343,863
Amortization of deferred policy acquisition costs
–
–
15,573
–
15,573
Amortization of premiums and accretion of discounts related to investments, net
–
754
8,397
–
9,151
Amortization of debt issuance costs
2,791
–
–
–
2,791
Interest credited to policyholders
–
–
31,894
–
31,894
Change in allowance for losses on trade receivables
253
(30)
(1)
–
222
Change in allowance for inventories and parts reserve
8,352
–
–
–
8,352
Net gains on disposal of personal property
(86,398)
–
–
–
(86,398)
Net gains on disposal of real estate
(3,907)
–
–
–
(3,907)
Net gains on sales of investments
–
(207)
(3,225)
–
(3,432)
Net gains on equity investments
–
(4,342)
–
–
(4,342)
Deferred income taxes
140,780
865
(2,729)
–
138,916
Net change in other operating assets and liabilities:
Reinsurance recoverables and trade receivables
6,159
(148)
(9,782)
–
(3,771)
Inventories and parts
(45,718)
–
–
–
(45,718)
Prepaid expenses
266,780
–
–
–
266,780
Capitalization of deferred policy acquisition costs
–
–
(17,807)
–
(17,807)
Other assets
(1,033)
(179)
(115)
–
(1,327)
Related party assets
(1,161)
(1,563)
–
–
(2,724)
Accounts payable and accrued expenses
89,479
1,547
522
–
91,548
Policy benefits and losses, claims and loss expenses payable
15,250
174
3,544
–
18,968
Other policyholders' funds and liabilities
–
(222)
(1,255)
–
(1,477)
Deferred income
8,626
–
(1,034)
–
7,592
Related party liabilities
543
(2,098)
855
–
(700)
Net cash provided by operating activities
1,472,324
13,866
32,930
–
1,519,120
Cash flows from investing activities:
Escrow deposits
(2,341)
–
–
–
(2,341)
Purchases of:
Property, plant and equipment
(1,039,688)
–
–
–
(1,039,688)
Short term investments
–
(21,669)
–
–
(21,669)
Fixed maturities investments
–
(7,749)
(407,891)
–
(415,640)
Equity securities
–
–
(36)
–
(36)
Preferred stock
–
–
(8,000)
–
(8,000)
Real estate
(12)
–
(112)
–
(124)
Mortgage loans
(12)
(10,700)
(96,251)
–
(106,963)
Proceeds from sales and paydowns of:
Property, plant and equipment
306,946
–
–
–
306,946
Short term investments
–
16,594
79
–
16,673
Fixed maturities investments
–
10,728
219,315
–
230,043
Equity securities
–
–
1,894
–
1,894
Mortgage loans
–
565
26,047
–
26,612
Net cash used by investing activities
(735,107)
(12,231)
(264,955)
–
(1,012,293)
(page 1 of 2)
(a) Balance for the period ended June 30, 2021
Consolidating cash flow statements by industry segment for the six months ended September 30, 2021 are as follows:
Moving & Storage
Property & Casualty
Life
Elimination
AMERCO
(Unaudited)
Cash flows from financing activities:
(In thousands)
Borrowings from credit facilities
987,048
–
–
–
987,048
Principal repayments on credit facilities
(226,791)
–
(281)
–
(227,072)
Payments of debt issuance costs
(2,092)
–
–
–
(2,092)
Finance lease payments
(87,500)
–
–
–
(87,500)
Common stock dividend paid
(19,608)
–
–
–
(19,608)
Investment contract deposits
–
–
199,426
–
199,426
Investment contract withdrawals
–
–
(116,021)
–
(116,021)
Net cash provided by financing activities
651,057
–
83,124
–
734,181
Effects of exchange rate on cash
(4,787)
–
–
–
(4,787)
Increase (decrease) in cash and cash equivalents
1,383,487
1,635
(148,901)
–
1,236,221
Cash and cash equivalents at beginning of period
1,010,275
5,658
178,079
–
1,194,012
Cash and cash equivalents at end of period
$
2,393,762
$
7,293
$
29,178
$
–
$
2,430,233
(page 2 of 2)
(a) Balance for the period ended June 30, 2021
|
Moving & Storage
Consolidated
Property & Casualty
Insurance (a)
Life
Insurance (a)
Elimination
AMERCO
Consolidated
(Unaudited)
Cash flows from operating activities:
(In thousands)
Net earnings
$
354,091
$
10,131
$
6,602
$
(16,733)
$
354,091
Earnings from consolidated entities
(16,733)
–
–
16,733
–
Adjustments to reconcile net earnings to cash provided by operations:
Depreciation
332,240
–
–
–
332,240
Amortization of deferred policy acquisition costs
–
–
12,440
–
12,440
Amortization of premiums and accretion of discounts related to investments, net
–
786
6,140
–
6,926
Amortization of debt issuance costs
2,755
–
–
–
2,755
Interest credited to policyholders
–
–
24,241
–
24,241
Change in allowance for losses on trade receivables
(139)
–
(1)
–
(140)
Change in allowance for inventories and parts reserve
106
–
–
–
106
Net gains on disposal of personal property
(29,131)
–
–
–
(29,131)
Net losses on disposal of real estate
3,169
–
–
–
3,169
Net gains on sales of investments
–
(28)
(1,260)
–
(1,288)
Net losses on equity investments
–
2,254
–
–
2,254
Deferred income taxes
79,947
804
(553)
–
80,198
Net change in other operating assets and liabilities:
Reinsurance recoverables and trade receivables
(19,696)
1,848
(10,440)
–
(28,288)
Inventories and parts
386
–
–
–
386
Prepaid expenses
116,064
–
–
–
116,064
Capitalization of deferred policy acquisition costs
–
–
(13,404)
–
(13,404)
Other assets
(181)
10
(382)
–
(553)
Related party assets
1,918
867
–
–
2,785
Accounts payable and accrued expenses
114,195
(2,618)
912
–
112,489
Policy benefits and losses, claims and loss expenses payable
14,300
(5,748)
8,023
–
16,575
Other policyholders' funds and liabilities
–
(5,093)
329
–
(4,764)
Deferred income
10,245
–
2,992
–
13,237
Related party liabilities
1,652
(135)
(1,563)
–
(46)
Net cash provided by operating activities
965,188
3,078
34,076
–
1,002,342
Cash flows from investing activities:
Escrow deposits
1,266
–
–
–
1,266
Purchases of:
Property, plant and equipment
(662,259)
–
–
–
(662,259)
Short term investments
–
(19,204)
(18)
–
(19,222)
Fixed maturities investments
–
(3,505)
(157,250)
–
(160,755)
Equity securities
–
–
(719)
–
(719)
Preferred stock
–
–
(13,111)
–
(13,111)
Real estate
–
–
(223)
–
(223)
Mortgage loans
–
(14,145)
(58,171)
–
(72,316)
Proceeds from sales and paydowns of:
Property, plant and equipment
314,335
–
–
–
314,335
Short term investments
–
23,180
–
–
23,180
Fixed maturities investments
–
8,730
217,926
–
226,656
Equity securities
–
–
72
–
72
Mortgage loans
–
555
2,664
–
3,219
Net cash used by investing activities
(346,658)
(4,389)
(8,830)
–
(359,877)
(page 1 of 2)
(a) Balance for the period ended June 30, 2020
Consolidating cash flow statements by industry segment for the six months ended September 30, 2020 are as follows:
Moving & Storage
Property &
Life
Elimination
AMERCO
(Unaudited)
Cash flows from financing activities:
(In thousands)
Borrowings from credit facilities
576,123
–
9,600
–
585,723
Principal repayments on credit facilities
(377,062)
–
(9,717)
–
(386,779)
Payment of debt issuance costs
(3,477)
–
–
–
(3,477)
Finance lease payments
(122,720)
–
–
–
(122,720)
Common stock dividend paid
(9,804)
–
–
–
(9,804)
Net contribution from (to) related party
18,599
–
(18,599)
–
–
Investment contract deposits
–
–
114,288
–
114,288
Investment contract withdrawals
–
–
(102,466)
–
(102,466)
Net cash provided (used) by financing activities
81,659
–
(6,894)
–
74,765
Effects of exchange rate on cash
3,986
–
–
–
3,986
Increase (decrease) in cash and cash equivalents
704,175
(1,311)
18,352
–
721,216
Cash and cash equivalents at beginning of period
459,078
4,794
30,480
–
494,352
Cash and cash equivalents at end of period
$
1,163,253
$
3,483
$
48,832
$
–
$
1,215,568
(page 2 of 2)
(a) Balance for the period ended June 30, 2020
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