U-HAUL HOLDING CO /NV/, 10-Q filed on 09 Aug 23
 | XBRL Documents
v3.23.2
Document and Entity Information - shares
 3 Months Ended
Jun. 30, 2023
Aug. 04, 2023
Document and Entity Information [Abstract]    
Entity Registrant Name U-Haul Holding Company  
Entity Central Index Key 0000004457  
Entity Current Reporting Status Yes  
Entity Small Business false  
Current Fiscal Year End Date --03-31  
Entity Filer Category Large Accelerated Filer  
Entity Emerging Growth Company false  
Document Fiscal Year Focus 2024  
Document Type 10-Q  
Document Fiscal Period Focus Q1  
Document Period End Date Jun. 30, 2023  
Amendment Flag false  
Entity Shell Company false  
Entity Interactive Data Current Yes  
Entity File Number 001-11255  
Entity Tax Identification Number 88-0106815  
Entity address, address line one 5555 Kietzke Lane  
Entity address, address line two Suite 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  
Entity Incorporation, State or Country Code NV  
Document Quarterly Report true  
Document Transition Report false  
Common Stock [Member]    
Document and Entity Information [Abstract]    
Trading Symbol UHAL  
Entity Common Stock, Shares Outstanding   19,607,788
Title of 12(b) Security Common Stock, $0.25 par value  
Security Exchange Name NYSE  
Nonvoting Common Stock [Member]    
Document and Entity Information [Abstract]    
Trading Symbol UHAL.B  
Entity Common Stock, Shares Outstanding   176,470,092
Title of 12(b) Security Series N Non-Voting Common Stock, $0.001 par value  
Security Exchange Name NYSE  
v3.23.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2023
Mar. 31, 2023
ASSETS:    
Cash and cash equivalents $ 2,377,124 $ 2,060,524
Reinsurance recoverables and trade receivables, net 206,663 189,498
Inventories, net 164,884 151,474
Prepaid expenses 232,039 241,711
Investments, fixed maturities and marketable equities 2,469,512 2,770,394
Investments, other 620,140 575,540
Deferred policy acquisition costs, net 123,596 128,463
Other assets 60,821 51,052
Right of use Assets - Financing 420,496 474,765
Right of use Assets - Operating 59,496 58,917
Related party assets 43,102 48,308
Subtotal assets 6,777,873 6,750,646
Property, plant and equipment, at cost:    
Land 1,555,326 1,537,206
Buildings and improvements 7,364,517 7,088,810
Furniture and equipment 942,036 928,241
Property, plant and equipment (gross) 16,322,927 15,660,293
Less: Accumulated depreciation (4,486,766) (4,310,205)
Total property, plant and equipment 11,836,161 11,350,088
Total assets 18,614,034 18,100,734
Liabilities:    
Accounts payable and accrued expenses 778,605 761,039
Notes, loans and leases payable 6,287,231 6,108,042
Financing lease liability 189,037  
Operating lease liability 58,808 58,373
Policy benefits and losses, claims and loss expenses payable 878,436 880,202
Liabilities from investment contracts 2,384,330 2,398,884
Other policyholders' funds and liabilities 12,218 8,232
Deferred income 64,790 52,282
Deferred income taxes, net 1,371,859 1,329,489
Total liabilities 11,836,277 11,596,543
Commitments and contingencies (notes 4, 8 and 9)
Stockholders' equity:    
Additional paid-in capital 453,643 453,643
Accumulated other comprehensive loss (261,836) (285,623)
Retained earnings 7,252,927 7,003,148
Total stockholders' equity 6,777,757 6,504,191
Total liabilities and stockholders' equity 18,614,034 18,100,734
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
Serial 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 866,916 827,696
Rental Trucks [Member]    
Property, plant and equipment, at cost:    
Property subject to or available for operating lease, gross $ 5,594,132 $ 5,278,340
v3.23.2
Condensed Consolidated Balance Sheets Parenthetical
Jun. 30, 2023
$ / shares
Common Stock [Member]  
Common stock:  
Common stock, par or stated value per share $ 0.25
v3.23.2
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Revenues:    
Self-moving equipment rentals $ 999,206 $ 1,090,775
Self-storage revenues 198,961 173,177
Self moving and self-storage products and service sales 100,872 109,351
Property management fees 9,177 9,139
Life insurance premiums 23,131 25,781
Property and casualty insurance premiums 20,322 19,972
Investment income interest and dividend 64,592 33,573
Other revenue 124,047 136,072
Total revenues 1,540,308 1,597,840
Costs and expenses:    
Operating expenses 763,241 733,167
Commission expenses 106,927 118,493
Cost of sales 70,675 79,671
Benefits and losses 45,344 39,757
Amortization of deferred policy acquisition costs 8,045 7,672
Lease expense 7,583 7,475
Depreciation, net of (gains) losses on disposals 137,814 113,796
Net (gains) losses on disposal of real estate 1,021 2,307
Total costs and expenses 1,140,650 1,102,338
Earnings from operations 399,658 495,502
Other components of net periodic benefit costs (365) (304)
Interest expense (60,598) (49,799)
Pretax earnings 338,695 445,399
Income tax expense (81,857) (107,054)
Earnings available to common stockholders 256,838 338,345
Common Stock [Member]    
Costs and expenses:    
Earnings available to common stockholders $ 0 $ 0
Basic and diluted earnings per common share $ 1.27 $ 2.18
Weighted average common shares outstanding: basic and diluted 19,607,788 19,607,788
Nonvoting Common Stock [Member]    
Costs and expenses:    
Earnings available to common stockholders $ 0 $ 0
Basic and diluted earnings per common share $ 1.31 $ 1.68
Weighted average common shares outstanding: basic and diluted 176,470,092 176,470,092
Nonvoting Common Stock [Member] | Common Stock [Member]    
Costs and expenses:    
Weighted average common shares outstanding: basic and diluted 196,077,880 196,077,880
v3.23.2
Condensed Consolidated Statements of Operations Parenthetical - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Depreciation:    
Net gain on sale of real and personal property $ (55,661) $ (64,348)
v3.23.2
Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Comprehensive income (loss) (pretax):    
Pretax earnings (loss) $ 338,695 $ 445,399
Comprehensive income (loss) (tax effect):    
Income tax expense (81,857) (107,054)
Comprehensive income (loss) (net of tax):    
Net earnings 256,838 338,345
Other comprehensive income (loss):    
Foreign currency translation (pretax) 469 197
Foreign currency translation (tax effect) 0 0
Foreign currency translation (net of tax) 469 197
Unrealized gain (loss) on investments (pretax) 25,543 (173,046)
Unrealized gain (loss) on investments (tax effect) (5,199) 36,664
Unrealized gain (loss) on investments (net of tax) 20,344 (136,382)
Change in fair value of cash flow hedges (pretax) 5,093 170
Change in fair value of cash flow hedges (tax effect) (1,251) (42)
Change in fair value of cash flow hedges (net of tax) 3,842 128
Amounts reclassifed into earnings on hedging activities (pretax) (1,150) 566
Amounts reclassified into earnings on hedging activities (tax effect) 282 (139)
Amounts reclassified into earnings on hedging activities (net of tax) (868) 427
Total other comprehensive income (loss) (pretax) 29,955 (172,113)
Total other comprehensive income (loss) (tax effect) (6,168) 36,483
Total other comprehensive income (loss) (net of tax) 23,787 (135,630)
Total comprehensive income (pretax) 368,650 273,286
Total comprehensive income (tax effect) (88,025) (70,571)
Total comprehensive income (net of tax) $ 280,625 $ 202,715
v3.23.2
Condensed 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]
Nonvoting Common Stock [Member]
Balance, beginning of period at Mar. 31, 2022 $ 5,894,075 $ 10,497 $ 453,819 $ (4,992) $ 6,112,401 $ (525,653) $ (151,997) $ 0
Cosolidated statement of change in equity                
Foreign currency translation 197 0 0 197 0 0 0 0
Unrealized net gain (loss) on investments, net of tax (136,382) 0 0 (136,382) 0 0 0 0
Change in fair value of cash flow hedges, net of tax 128 0 0 128 0 0 0 0
Amounts reclassified into earnings on hedging activities 427 0 0 427 0 0 0 0
Net earnings 338,345 0 0 0 338,345 0 0 0
Common stock dividends (9,804) 0 0 0 (9,804) 0 0 0
Net activity 192,911 0 0 (135,630) 328,541 0 0 0
Balance, end of period at Jun. 30, 2022 6,086,986 10,497 453,819 (140,622) 6,440,942 (525,653) (151,997) 0
Balance, beginning of period at Mar. 31, 2023 6,504,191 10,497 453,643 (285,623) 7,003,148 (525,653) (151,997) 176
Cosolidated statement of change in equity                
Foreign currency translation 469 0 0 469 0 0 0 0
Unrealized net gain (loss) on investments, net of tax 20,344 0 0 20,344 0 0 0 0
Change in fair value of cash flow hedges, net of tax 3,842 0 0 3,842 0 0 0 0
Amounts reclassified into earnings on hedging activities (868) 0 0 (868) 0 0 0 0
Net earnings 256,838 0 0 0 256,838 0 0 0
Series N Non-Voting Common Stock Dividends (7,059) 0 0 0 (7,059) 0 0 0
Net activity 273,566 0 0 23,787 249,779 0 0 0
Balance, end of period at Jun. 30, 2023 $ 6,777,757 $ 10,497 $ 453,643 $ (261,836) $ 7,252,927 $ (525,653) $ (151,997) $ 176
v3.23.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flow from operating activities:    
Net earnings $ 256,838 $ 338,345
Adjustments to reconcile net earnings to cash provided by operations:    
Depreciation 193,475 178,144
Amortization of deferred policy acquisition costs 8,045 7,672
Amortization of premiums and accretion of discounts related to investments, inc 4,394 4,929
Amortization of debt issuance costs 1,456 1,473
Interest credited to policyholders 17,538 15,157
Change in allowance for losses on trade receivables 592 (6,151)
Change in allowance for inventory reserves (327) 4,646
Net gain on sale of real and personal property (55,661) (64,348)
Net losses on disposal of real estate 1,021 2,307
Net (gain) loss on sale of investments (1,914) 268
Net (gain) losses equity investments (2,429) 1,551
Deferred income tax 34,108 63,493
Net change in other operating assets and liabilities:    
Reinsurance recoverables and trade receivables (17,435) 15,894
Inventories (13,068) (10,347)
Prepaid expenses 9,870 4,935
Capitalization of deferred policy acquisition costs (3,177) (7,398)
Other assets (9,957) 1,935
Related party assets 3,132 484
Accounts payable and accrued expenses 33,112 74,676
Policy benefits and losses, claims and loss expenses payable (12,098) 6,043
Other policyholders' funds and liabilities 3,986 1,187
Deferred income 11,999 14,448
Related party liabilities 2,197 2,028
Net cash provided by operating activities 465,697 651,371
Cash flow from investing activities:    
Escrow deposits (361) 4,789
Purchase of:    
Property, plant and equipment (773,577) (646,137)
Short term investments (9,957) (22,017)
Fixed maturity investments (3,251) (36,488)
Equity Securities (242) (1,366)
Real estate (415) 0
Mortgage loans (52,450) (42,561)
Proceeds from sale of:    
Property, plant and equipment 193,455 159,180
Short term investments 11,745 18,073
Fixed maturity investments 336,859 55,808
Preferred stock 236 362
Mortgage loans 8,377 32,345
Net cash used by investing activities (288,668) (478,012)
Cash flow from financing activities:    
Borrowings from credit facilities 445,493 393,264
Principal repayments on credit facilities (232,824) (145,369)
Payment of debt issuance costs (2,688) (1,069)
Capital lease payments (34,168) (34,982)
Common stock dividends paid 0 (9,804)
Investment contract deposits 51,239 85,767
Investment contract withdrawals (83,331) (62,911)
Net cash provided by (used in) financing activities 136,741 224,896
Effects on exchange rate on cash 2,830 (4,121)
Increase (decrease) cash and cash equivalents 316,600 394,134
Cash and cash equivalents at beginning of period 2,060,524 2,704,137
Cash and cash equivalents at end of period $ 2,377,124 $ 3,098,271
v3.23.2
Basis of Presentation
 3 Months Ended
Jun. 30, 2023
Disclosure Text Block [Abstract]  
1. Basis of Presentation U-Haul Holding Company, a Nevada corporation (“U-Haul Holding Company”), has a first fiscal quarter that ends on the 30 th of June for each year that is referenced. Our insurance company subsidiaries have a first quarter that ends on the 31 st of March 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 presentation of consolidated financial position or consolidated results of operations. We disclose material events, if any, occurring during the intervening period. Consequently, all references to our insurance subsidiaries’ years 2023 and 2022 correspond to fiscal 2024 and 2023 for U-Haul Holding Company. Accounts denominated in non-U.S. currencies have been translated into U.S. dollars. The consolidated balance sheet as of June 30, 2023 and the related consolidated statements of operations, comprehensive income (loss), stockholders’ equity and cash flows for the first quarter of fiscal 2024 and 2023 are unaudited. In our opinion, all adjustments necessary for the fair presentation of such condensed consolidated financial statements have been included. Such adjustments consist only of normal recurring items. Interim results are not necessarily indicative of results for a full year. The information in this Quarterly Report on Form 10-Q (“Quarterly Report”) should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended March 31, 2023. Intercompany accounts and transactions have been eliminated. Description of Legal Entities U-Haul Holding Company 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 U-Haul Holding Company and all of its legal subsidiaries. Description of Operating Segments U-Haul Holding Company has three ( 3 ) reportable segments. They are Moving and Storage, Property and Casualty Insurance and Life Insurance. The Moving and Storage operating segment (“Moving and Storage”) includes U-Haul Holding Company, 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. The Property and Casualty Insurance operating segment (“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 insurance 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. The Life Insurance operating segment (“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. Accounting Policy Updates :   The following accounting policies were updated since the filing of our Annual Report on Form 10-K for the fiscal year ended March 31, 2023 due to the adoption of Accounting Standards Update (“ASU”) 2018-12, Financial Services - Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts (ASU 2018-12). Please refer to Note 18,   Accounting Pronouncements   for additional information on the financial statement impacts related to the adoption of this standard.
v3.23.2
Earnings Per Share
 3 Months Ended
Jun. 30, 2023
Earnings Per Share [Abstract]  
2. Earnings Per Share We calculate earnings per share using the two-class method in accordance with Accounting Standards Codification (“ASC“) Topic 260, Earnings Per Share . The two-class method allocates the undistributed earnings available to common stockholders to the Company’s outstanding common stock, $ 0.25 par value (the “Voting Common Stock”) and the Series N Non-Voting Common Stock, $ 0.001 par value (the “Non-Voting Common Stock”) based on each share’s percentage of total weighted average shares outstanding. The Voting Common Stock and Non-Voting Common Stock are allocated 10 % and 90 %, respectively, of our undistributed earnings available to common stockholders. This represents earnings available to common stockholders less the dividends declared for both the Voting Common Stock and Non-Voting Common Stock. Our undistributed earnings per share is calculated by taking the undistributed earnings available to common stockholders and dividing this number by the weighted average shares outstanding for the respective stock. If there was a dividend declared for that period, the dividend per share is added to the undistributed earnings per share to calculate the basic and diluted earnings per share. The process is used for both Voting Common Stock and Non-Voting Common Stock. The calculation of basic and diluted earnings per share for the quarters ended June 30, 2023 and 2022 for our Voting Common Stock and Non-Voting Common Stock were as follows:     For the Quarters Ended     June 30,     2023 2022     (Unaudited)     (In thousands, except share and per share amounts)           Weighted average shares outstanding of Voting Common Stock   19,607,788   19,607,788 Total weighted average shares outstanding for Voting Common Stock and Non-Voting Common Stock   196,077,880   196,077,880 Percent of weighted average shares outstanding of Voting Common Stock   10%   10%           Net earnings available to common stockholders $ 256,838 $ 338,345 Voting Common Stock dividends declared   –   (9,804) Non-Voting Common Stock dividends declared   (7,059)   – Undistributed earnings available to common stockholders $ 249,779 $ 328,541 Undistributed earnings available to common stockholders allocated to Voting Common Stock $ 24,978 $ 32,854           Undistributed earnings per share of Voting Common Stock $ 1.27 $ 1.68 Dividends declared per share of Voting Common Stock $ – $ 0.50 Basic and diluted earnings per share of Voting Common Stock $ 1.27 $ 2.18                     Weighted average shares outstanding of Non-Voting Common Stock   176,470,092   176,470,092 Total weighted average shares outstanding for Voting Common Stock and Non-Voting Common Stock   196,077,880   196,077,880 Percent of weighted average shares outstanding of Non-Voting Common Stock   90%   90%           Net earnings available to common stockholders $ 256,838 $ 338,345 Voting Common Stock dividends declared   –   (9,804) Non-Voting Common Stock dividends declared   (7,059)   – Undistributed earnings available to common stockholders $ 249,779 $ 328,541 Undistributed earnings available to common stockholders allocated to Non-Voting Common Stock $ 224,801 $ 295,687           Undistributed earnings per share of Non-Voting Common Stock $ 1.27 $ 1.68 Dividends declared per share of Non-Voting Common Stock $ 0.04 $ – Basic and diluted earnings per share of Non-Voting Common Stock $ 1.31 $ 1.68
v3.23.2
Investments
 3 Months Ended
Jun. 30, 2023
Investments Debt Equity Securities [Abstract]  
3. Investments We deposit bonds with insurance regulatory authorities to meet statutory requirements. The adjusted cost of bonds on deposit with insurance regulatory authorities was $ 21.4 million and $ 23.4 million as of March 31, 2023 and December 31, 2022, respectively. Available-for-Sale Investments Available-for-sale investments as of June 30, 2023 were as follows:     Amortized Cost   Gross Unrealized Gains   Gross Unrealized Losses More than 12 Months   Gross Unrealized Losses Less than 12 Months   Allowance for Expected Credit Losses   Fair Market Value     (Unaudited)     (In thousands) U.S. treasury securities and government obligations $ 128,050 $   391 $   (7,620) $   (1,973) $   – $   118,848 U.S. government agency mortgage-backed securities   33,769   55   (6,810)   (62)   –   26,952 Obligations of states and political subdivisions   159,833   1,060   (6,024)   (2,788)   –   152,081 Corporate securities   1,987,107   2,253   (147,453)   (39,283)   (1,646)   1,800,978 Mortgage-backed securities   359,413   83   (47,653)   (3,476)   –   308,367   $ 2,668,172 $   3,842 $   (215,560) $   (47,582) $   (1,646) $   2,407,226   Available-for-sale investments as of March 31, 2023 were as follows:     Amortized Cost   Gross Unrealized Gains   Gross Unrealized Losses More than 12 Months   Gross Unrealized Losses Less than 12 Months   Allowance for Expected Credit Losses   Fair Market Value           (In thousands) U.S. treasury securities and government obligations $ 353,189 $   3,061 $   (7,639) $   (3,935) $   – $   344,676 U.S. government agency mortgage-backed securities   34,126   40   (6,707)   (228)   –   27,231 Obligations of states and political subdivisions   161,960   649   (4,014)   (8,090)   –   150,505 Corporate securities   2,086,432   1,491   (60,224)   (156,365)   (2,101)   1,869,233 Mortgage-backed securities   370,880   78   (40,359)   (13,207)   –   317,392   $ 3,006,587 $   5,319 $   (118,943) $   (181,825) $   (2,101) $   2,709,037 We sold available-for-sale securities with a fair value of $ 113.0 million and $54.1 million during the first quarter of fiscal 2024 and fiscal 2023, respectively. The gross realized gains on these sales totaled $0.9 million and $0.3 million during the first quarter of fiscal 2024 and fiscal 2023, respectively.   The gross realized losses on these sales totaled $0.5 million and $0.1 million during the first quarter of fiscal 2024 and fiscal 2023, respectively. In the first quarter of fiscal 2024 we received $ 225.0 million from the Moving and Storage Treasuries that matured. For available-for-sale debt securities in an unrealized loss position, we first assess whether the security is below investment grade.   For securities that are below investment grade, we evaluate whether the decline in fair value has resulted from credit losses or other factors such as the interest rate environment. Declines in value due to credit are recognized as an allowance. In making this assessment, management considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse market conditions specifically related to the security, among other factors.   If this assessment indicates that a credit loss exists, cumulative default rates based on ratings are used to determine the potential cost of default, by year.   The present value of these potential costs is then compared to the amortized cost of the security to determine the credit loss, limited by the amount that the fair value is less than the amortized cost basis. Declines in fair value that have not been recorded through an allowance for credit losses, such as declines due to changes in market interest rates, are recorded through accumulated other comprehensive income, net of applicable taxes. If we intend to sell a security, or it is more likely than not that we will be required to sell the security before recovery of its amortized cost basis, the security is written down to its fair value and the write down is charged against the allowance for   credit losses, with any incremental impairment reported in earnings. Reversals of the allowance for credit losses are permitted and should not exceed the allowance amount initially recognized. Changes in the allowance for credit losses are recorded as provision for (or reversal of) credit loss expense. There was a ($ 0.5 ) million and a $17 thousand net impairment charge recorded in the first quarter ended June 30, 2023 and 2023, respectively. 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. The adjusted cost and estimated market value of available-for-sale investments by contractual maturity were as follows:     June 30, 2023   March 31, 2023     Cost Amortized   Fair Value   Cost Amortized   Fair Value     (Unaudited)         (In thousands) Due in one year or less $ 134,115 $ 130,997 $ 354,875 $ 354,184 Due after one year through five years   734,777   698,857   754,175   717,552 Due after five years through ten years   699,066   637,939   736,089   665,708 Due after ten years   740,801   631,066   790,568   654,201     2,308,759   2,098,859   2,635,707   2,391,645                   Mortgage-backed securities   359,413   308,367   370,880   317,392   $ 2,668,172 $ 2,407,226 $ 3,006,587 $ 2,709,037   Equity investments of common stock and non-redeemable preferred stock were as follows:     June 30, 2023   March 31, 2023     Cost Amortized   Fair Value   Cost Amortized   Fair Value     (Unaudited)             (In thousands)                   Common stocks $ 29,613 $ 41,730 $ 29,577 $ 39,375 Non-redeemable preferred stocks   25,144   20,556   26,054   21,982   $ 54,757 $ 62,286 $ 55,631 $ 61,357   Investments, other The carrying value of the other investments was as follows:       June 30,   March 31,     2023   2023     (Unaudited)         (In thousands)           Mortgage loans, net $ 510,307 $ 466,531 Short-term investments   13,490   15,921 Real estate   72,257   72,178 Policy loans   10,852   10,921 Other equity investments   13,234   9,989   $ 620,140 $ 575,540
v3.23.2
Borrowings
 3 Months Ended
Jun. 30, 2023
Debt Disclosure [Abstract]  
4. Borrowings Long Term Debt Long term debt was as follows:   Fiscal Year 2024             Weighted Avg     June 30,   March 31,   Interest Rates     Maturities   Interest Rates (b)     2023   2023                         (Unaudited)                             (In thousands) Real estate loans (amortizing term) (a) 4.30 % - 6.64 %   2027 - 2037   5.78 %   $ 286,677 $   289,647 Senior mortgages 2.70 % - 5.50 %   2024 - 2042   4.14 %     2,457,739   2,371,231 Real estate loans (revolving credit) - % - - %   - - 2027   – %     –   – Fleet loans (amortizing term) 1.61 % - 5.68 %   2023 - 2029   3.73 %     100,225   111,856 Fleet loans (revolving credit) 2.36 % - 6.50 %   2026 - 2028   5.72 %     590,000   615,000 Finance leases (rental equipment) 2.37 % - 5.01 %   2023 - 2026   3.92 %     189,037   223,205 Finance liabilities (rental equipment) 1.60 % - 6.13 %   2024 - 2031   4.12 %     1,425,854   1,255,763 Private placements 2.43 % - 2.88 %   2029 - 2035   2.65 %     1,200,000   1,200,000 Other obligations 1.50 % - 8.00 %   2023 - 2049   6.06 %     74,250   76,648 Notes, loans and finance leases payable                           6,323,782   6,143,350 Less: Debt issuance costs                             (36,551)   (35,308) Total notes, loans and finance leases payable, net                 $ 6,287,231 $   6,108,042       (a) Certain loans have interest rate swaps fixing the rate for the relevant loans between 2.72% and 2.86% based on current margin. The weighted average interest rate calculation for these loans was 4.08% using the swap adjusted interest rate.     (b) Weighted average rates as of June 30, 2023                                                                       Real Estate Backed Loans Real Estate Loans Certain subsidiaries of Real Estate and U-Haul Company of Florida are borrowers under real estate loans. These loans require monthly or quarterly principal and interest payments, with the unpaid loan balance and accrued and unpaid interest due at maturity. These loans are secured by various properties owned by the borrowers. The interest rates, per the provisions of $ 204.2 million of these loans, are the applicable Secured Overnight Funding Rate (“SOFR”) plus the applicable margins and a credit spread adjustment of 0.10 %. As of June 30, 2023, the applicable SOFR was between 5.15 % and 5.16 % and applicable margin was between 0.65 % and 1.38 %, the sum of which, including the credit spread, was between 5.90 % and 6.64 %. The remaining $ 82.5 million of these loans was fixed with an interest rate of 4.30 %. The default provisions of these real estate loans include non-payment of principal or interest and other standard reporting and change-in-control covenants. We are in compliance with the covenants as of June 30, 2023. 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 2.70 % and 5.50 %. 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. We are in compliance with the covenants as of June 30, 2023. There are limited restrictions regarding our use of the funds. Real Estate Loans (Revolving Credit) U-Haul Holding Company is a borrower under a multi-bank syndicated real estate loan. As of June 30, 2023, the maximum credit commitment is $465.0 million. As of June 30, 2023, the full capacity was available to borrow. This loan agreement provides for revolving loans, subject to the terms of the loan agreement. If there was a loan outstanding as of June 30, 2023, the applicable SOFR was 5.10% and applicable margin would be between 1.40% and 1.55% the sum of which would be 6.50% to 6.65% This loan requires monthly interest payments with the unpaid loan balance and accrued and unpaid interest due at maturity. The default provisions of the loan include non-payment of principal or interest and other   standard reporting and change-in-control covenants. We are in compliance with the covenants as of June 30, 2023. There is a 0.30 % fee charged for unused capacity. 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 are fixed rates.   All of our rental truck amortizing loans are collateralized by the rental equipment purchased.   The majority of these loans are funded at 70%, but some may be funded at 100%. U-Haul Holding Company, 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. We are in compliance with the covenants as of June 30, 2023. The net book value of the corresponding rental equipment was $226.1million and $ 213.1 million as of June 30, 2023 and March 31, 2023, respectively. Rental Truck Revolvers Various subsidiaries of U-Haul entered into three revolving fleet loans with an aggregate borrowing capacity of $ 615.0 million. The interest rates are SOFR plus the applicable margin and a credit spread adjustment of 0.10 %. As of June 30, 2023, SOFR was between 5.03 % and 5.16 % and the margin was between 1.15 % and 1.25 %, the sum of which, including the credit spread, was between 6.28 % and 6.50 %. Of the $ 590.0 million outstanding, $ 100.0 million was fixed with an interest rate of 2.36 %. Only interest is paid on the loans until the last nine months of the respective loan terms when principal becomes due monthly. The default provisions of the loan include non-payment of principal or interest and other standard reporting and change-in-control covenants. We are in compliance with the covenants as of June 30, 2023. These fleet loans are collateralized by the rental equipment purchased. The net book value of the corresponding rental equipment was $ 735.1 million and $ 822.0 million as of June 30, 2023 and March 31, 2023, respectively. Finance Leases The Finance Lease balance represents our sale-leaseback transactions of rental equipment. The agreements are generally seven (7) year terms .   All of our finance leases are collateralized by our rental fleet. The net book value of the corresponding rental equipment was $ 420.5 million and $ 474.8 million as of June 30, 2023 and March 31, 2023, respectively. There were no new financing leases entered into during the first quarter of fiscal 2024. The default provisions of the loan include non-payment of principal or interest and other standard reporting and change-in-control covenants. We are in compliance with the covenants as of June 30, 2023. Finance Liabilities Finance liabilities represent our rental equipment financing transactions, and we assess if these 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, these sale-leasebacks are accounted for as a financial liability and the leased assets are capitalized at cost.     Our finance liabilities have an average term of seven (7) years . These finance liabilities are collateralized by the related assets of our rental fleet.   The net book value of the corresponding rental equipment was $ 1,628.6 million and $ 1,499.1 million as of June 30, 2023 and March 31, 2023, respectively. The default provisions of these loans include non-payment of principal or interest and other standard reporting and change-in-control covenants. We are in compliance with the covenants as of June 30, 2023. Private Placements In September 2021, U-Haul Holding Company entered into a note purchase agreement to issue $600.0 million of fixed rate senior unsecured notes in a private placement offering.   These notes consist of four tranches each totaling $150.0 million and funded in September 2021.   The fixed interest rates range between 2.43% and 2.78% with maturities between 2029 and 2033.   Interest is payable semiannually. The default provisions of the loan include non-payment of principal or interest and other standard reporting and change-in-control covenants. We are in compliance with the covenants as of June 30, 2023. In December 2021, U-Haul Holding Company entered into a note purchase agreement to issue $600.0 million of fixed rate senior unsecured notes in a private placement offering. These notes consist of three tranches each totaling $100.0 million and two tranches each totaling $150.0 million.  The fixed interest rates range between 2.55% and 2.88% with maturities between 2030 and 2035.  Interest is payable semiannually. The default provisions of the loan include non-payment of principal or interest and other standard reporting and change-in-control covenants. We are in compliance with the covenants as of June 30, 2023. Other Obligations In February 2011, U-Haul Holding Company and U.S. Bank Trust Company, NA, as successor in interest to U.S. Bank National Association (the “Trustee”), entered into the U-Haul Investors Club ® Indenture.   U-Haul Holding Company 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, certain 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 June 30, 2023, the aggregate outstanding principal balance of the U-Notes ® issued was $ 76.0 million, of which $ 1.7 million is held by our insurance subsidiaries and eliminated in consolidation. Annual Maturities of Notes, Loans and Finance Leases Payable The annual maturities of our notes, loans and finance leases payable, before debt issuance costs as of June 30, 2023 for the next five years and thereafter are as follows:     Years Ending June 30,         2024   2025   2026   2027   2028   Thereafter   Total     (Unaudited)     (In thousands) Notes, loans and finance leases payable $ 635,909 $ 474,221 $ 762,745 $ 766,958 $ 833,278 $ 2,850,671 $ 6,323,782 Interest on Borrowings Interest Expense Components of interest expense include the following:     Quarter Ended June 30,     2023   2022     (Unaudited)     (In thousands) Interest expense $ 64,400 $ 50,405 Capitalized interest   (4,063)   (2,618) Amortization of transaction costs   1,411   1,446 Interest expense resulting from cash flow hedges   (1,150)   566 Total interest expense $ 60,598 $ 49,799 Interest paid in cash amounted to $ 55.4 million and $ 41.7 million for the first quarter of fiscal 2023 and 2022, respectively.   Interest paid (received) in cash on derivative contracts was ($1.0) million and $0.6 million for the first quarter of fiscal 2024 and 2023, respectively. Interest Rates Interest rates and Company borrowings related to our revolving credit facilities were as follows:     Revolving Credit Activity       Quarter Ended June 30,       2023   2022       (Unaudited)       (In thousands, except interest rates)   Weighted average interest rate during the quarter   6.26 % 1.99 % Interest rate at the end of the quarter   6.41 % 2.29 % Maximum amount outstanding during the quarter $ 715,000 $ 1,095,000   Average amount outstanding during the quarter $ 660,330 $ 1,095,000   Facility fees $ 265 $ 58  
v3.23.2
Derivatives
 3 Months Ended
Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
5. 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 SOFR swap rates with the designated benchmark interest rate being hedged on certain of our SOFR indexed variable rate debt. The interest rate swaps effectively fix our interest payments on certain SOFR indexed variable rate debt through July 2032. We monitor our positions and the credit ratings of our 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:     June 30, 2023   March 31, 2023     (Unaudited)         (In thousands) Interest rate swaps designated as cash flow hedges:         Assets $ 9,254 $ 5,311 Liabilities   –   – Notional amount   204,227   206,347       The Effect of Interest Rate Contracts on the Statements of Operations for the Quarters Ended         June 30, 2023   June 30, 2022     (Unaudited)     (In thousands) Gain recognized in AOCI on interest rate contracts $ (3,943) $ (736) (Gain) loss reclassified from AOCI into income $ ( 1,150 ) $ 566 (Gains) or losses recognized in income on interest rate derivatives are recorded as interest expense in the consolidated statements of operations. During the first quarter of fiscal 2024 and 2023, we recognized an increase in the fair value of our cash flow hedges of $ 3.8 million and $ 0.1 million, respectively, net of taxes. During the first quarter of fiscal 2024 and 2023, we reclassified ($ 0.9 ) million and $ 0.4 million, respectively, from accumulated other comprehensive income (loss) (“AOCI”) to interest expense, net of tax. As of June 30, 2023, we expect to reclassify $ 4.8 million of net losses on interest rate contracts from AOCI to earnings as interest expense over the next twelve months. We use derivatives to economically 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 value on our balance sheet. As of March 31, 2023 and December 31, 2022, these derivative hedges had a fair value of $ 7.5 million and $ 4.3 million, with notional amounts of $ 362.4 million and $ 465.7   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. Net (gains) losses recognized in net investment and interest income for the quarters ended March 31, 2023 and 2022 were ($ 1.5 ) million and $ 0.6 million, respectively.     Derivatives Fair Values as of         June 30, 2023   March 31, 2023     (Unaudited)         (In thousands) Equity market contracts as economic hedging instruments         Assets $ 7,539 $ 4,295 Liabilities $ – $ – Notional amount $ 362,436 $ 465,701   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 generally accepted accounting principles (“GAAP”). Accordingly, the changes in fair value of the call options are recognized each reporting date 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.
v3.23.2
Accumulated Other Comprehensive Income (Loss)
 3 Months Ended
Jun. 30, 2023
Disclosure Text Block [Abstract]  
6. Comprehensive Income (Loss) A summary of AOCI components, net of tax, were as follows:     Foreign Currency Translation   Unrealized Net Gains (Losses) on Investments   Fair Market Value of Cash Flow Hedges   Postretirement Benefit Obligation Net Loss   Accumulated Other Comprehensive Loss     (Unaudited)     (In thousands) Balance as of March 31, 2023 $ (56,539) $   (232,740) $   4,007 $   (351) $   (285,623) Foreign currency translation   469   –   –   –   469 Unrealized net gains on investments   –   20,344   –   –   20,344 Change in fair value of cash flow hedges   –   –   3,842   –   3,842 Amounts reclassified into earnings on hedging activities   –   –   (868)   –   (868) Other comprehensive income (loss)   469   20,344   2,974   –   23,787 Balance as of June 30, 2023 $ ( 56,070 ) $   ( 212,396 ) $   6,981 $   ( 351 ) $   (261,836)
v3.23.2
Stockholders' Equity
 3 Months Ended
Jun. 30, 2023
Stockholders' Equity [Abstract]  
7. Stockholders' Equity The following table lists the dividends that have been declared and issued for the first quarters of fiscal years 2024 and 2023. Non-Voting Common Stock Dividends Declared Date   Per Share Amount   Record Date   Dividend Date               June 7, 2023 $ 0.04   June 20, 2023   June 30, 2023   Common Stock Dividends Declared Date   Per Share Amount   Record Date   Dividend Date               April 6, 2022 $ 0.50   April 18, 2022   April 29, 2022 As of June 30, 2023, no awards had been issued under the 2016 AMERCO Stock Option Plan.
v3.23.2
Leases
 3 Months Ended
Jun. 30, 2023
Leases [Abstract]  
8. Leases The following tables show the components of our right-of-use (“ROU“) assets, net:     As of June 30, 2023     Finance   Operating   Total     (Unaudited)     (In thousands) Buildings and improvements $ – $ 133,248 $ 133,248 Furniture and equipment   7,109   –   7,109 Rental trailers and other rental equipment   128,865   –   128,865 Rental trucks   879,054   –   879,054 Right-of-use assets, gross   1,015,028   133,248   1,148,276 Less: Accumulated depreciation   (594,532)   (73,770)   (668,302) Right-of-use assets, net $ 420,496 $ 59,478 $ 479,974       As of March 31, 2023     Finance   Operating   Total     (In thousands) Buildings and improvements $ – $ 128,221 $ 128,221 Furniture and equipment   9,687   –   9,687 Rental trailers and other rental equipment   152,294   –   152,294 Rental trucks   949,838   –   949,838 Right-of-use assets, gross   1,111,819   128,221   1,240,040 Less: Accumulated depreciation   (637,054)   (69,304)   (706,358) Right-of-use assets, net $ 474,765 $ 58,917 $ 533,682   As of June 30, 2023 and March 31, 2023, we had finance lease liabilities for the ROU assets, net of $ 189.0 million and $ 223.2 million, respectively, and operating lease liabilities of $ 58.8 million and $ 58.4 million, respectively.     Finance leases       June 30,   March 31,       2023   2023       (Unaudited)       Weighted average remaining lease term (years)   2   2   Weighted average discount rate   3.9 % 3.8 %       Operating leases       June 30,   March 31,       2023   2023       (Unaudited)       Weighted average remaining lease term (years)   20.3   19.2   Weighted average discount rate   4.7 % 4.7 %   For the quarters ended June 30, 2023 and 2022, cash paid for leases included in our operating cash flow activities were $ 8.9 million and $ 7.9 million, respectively, and our financing cash flow activities were $ 34.2 million and $ 35.0 million, respectively.   Non-cash activities of ROU assets in exchange for lease liablities were $5.0 million and $2.4 million for the first quarters of fiscal 2024 and 2023, respectively. The components of lease costs, including leases of less than 12 months, were as follows:     Three Months Ended     June 30, 2023   June 30, 2022     (Unaudited)     (In thousands)           Operating lease costs $ 8,102 $ 7,920           Finance lease cost:         Amortization of right-of-use assets $ 16,754 $ 22,396 Interest on lease liabilities   2,146   3,218 Total finance lease cost $ 18,900 $ 25,614   The short-term lease costs for the first quarters of fiscal 2024 and 2023 were not material. Maturities of lease liabilities were as follows:     Finance leases   Operating leases     (Unaudited) Years ending March 31,   (In thousands)           2024 (9 months) $ 75,174 $ 18,686 2025   77,194   12,244 2026   46,457   5,534 2027   –   4,087 2028   –   3,483 Thereafter   –   62,497 Total lease payments   198,825   106,531 Less: imputed interest   (9,788)   (47,723) Present value of lease liabilities $ 189,037 $ 58,808
v3.23.2
Contingencies
 3 Months Ended
Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]  
9. Contingencies Cybersecurity Incident On September 9, 2022, we announced that the Company was made aware of a data security incident involving U-Haul‘s information technology network. U-Haul detected a compromise of two unique passwords used to access U-Haul customers information. U-Haul took immediate steps to contain the incident and promptly enhanced its security measures to prevent any further unauthorized access. U-Haul retained cybersecurity experts and incident response counsel to investigate the incident and implement additional security safeguards. The investigation determined that between November 5, 2021 and April 8, 2022, the threat actor accessed customer contracts containing customers’ names, dates of birth, and driver’s license or state identification numbers. None of U-Haul’s financial, payment processing or email systems were involved. U-Haul has notified impacted customers and relevant governmental authorities. Several class action lawsuits related to the incident have been filed against U-Haul. The lawsuits have been consolidated into one action in the U.S. District Court for the District of Arizona and will be vigorously defended by the Company; however the outcome of such lawsuits cannot be predicted or guaranteed with any certainty. Environmental Compliance with environmental requirements of federal, state, provincial and local governments may 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. 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 the Company’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.
v3.23.2
Related Party Transactions
 3 Months Ended
Jun. 30, 2023
Related Party Transactions [Abstract]  
10. Related Party Transactions As set forth in the Company’s Audit Committee Charter and consistent with the NYSE Listed Company Manual, 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. U-Haul Holding Company 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. SAC Holdings, Four SAC Self-Storage Corporation, Five SAC Self-Storage Corporation, Galaxy Investments, L.P. and 2015 SAC-Self-Storage, LLC 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. Related Party Revenue     Quarter Ended June 30,     2023   2022     (Unaudited)     (In thousands) U-Haul management fee revenue from Blackwater $ 7,696 $ 7,729 U-Haul management fee revenue from Mercury   1,481   1,410   $ 9,177 $ 9,139   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 $ 8.2 million from the above-mentioned entities during the first quarter of both fiscal 2024 and 2023. 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; Mercury has notified W.P. Carey, the lessor, of its intent to purchase the properties. Related Party Costs and Expenses     Quarter Ended June 30,     2023   2022     (Unaudited)     (In thousands) U-Haul lease expenses to Blackwater $ 604 $ 604 U-Haul printing expenses to Blackwater   349   – U-Haul commission expenses to Blackwater   22,703   24,882   $ 23,656 $ 25,486 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. On May 15, 2023, SAC Holdings began providing ancillary and specialty printing services to us. The financial and other terms of the transactions are substantially identical to the terms of additional specialty printing vendors. As of June 30, 2023, subsidiaries of Blackwater acted as independent dealers. The financial and other terms of the dealership contracts 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 with subsidiaries of Blackwater, excluding Dealer Agreements, provided revenues of $7.7 million and $7.7 million, expenses of $ 0.9 million and $ 0.6 million and cash flows of $ 6.6 million and $ 6.9 million, respectively, during the first quarter of fiscal 2024 and 2023. Revenues were $ 103.5 million and $ 117.9 million and commission expenses were $ 22.7 million and $ 24.9 million, respectively, related to the Dealer Agreements, during the first quarter of fiscal 2024 and 2023. Management determined that we do not have a variable interest pursuant to the variable interest entity model under Accounting Standards Codification (“ASC”) 810 – Consolidation in the holding entities of Blackwater. Related Party Assets     June 30,   March 31,     2023   2023     (Unaudited)         (In thousands) U-Haul receivable from Blackwater $ 41,146 $ 42,141 U-Haul receivable from Mercury   6,446   8,402 Other (a)   (4,490)   (2,235)   $ 43,102 $ 48,308 (a)       Timing differences for intercompany balances with insurance subsidiaries resulting from the three-month difference in reporting periods.
v3.23.2
Consolidating Financial Information by Industry Segment
 3 Months Ended
Jun. 30, 2023
Segment Reporting [Abstract]  
11. Consolidating Financial Information by Industry Segment 11. Consolidating Financial Information by Industry Segment   U-Haul Holding Company’s three reportable segments are:   Moving and Storage, comprised of U-Haul Holding Company, U-Haul, and Real Estate and the subsidiaries of UHaul 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 are shown as liabilities on the consolidating statements. The information includes elimination entries necessary to consolidate U-Haul Holding Company, the parent, with its subsidiaries. Investments in subsidiaries are accounted for by the parent using the equity method of accounting.
v3.23.2
Industry Segment and Geographic Area Data
 3 Months Ended
Jun. 30, 2023
Segments, Geographical Areas [Abstract]  
12. Industry Segment and Geographic Area Data 12. Industry Segment and Geographic Area Data     United States   Canada   Consolidated     (Unaudited)     (All amounts are in thousands of U.S. $'s) Quarter Ended June 30, 2023             Total revenues $ 1,461,284 $ 79,024 $ 1,540,308 Depreciation and amortization, net of gains on disposal   148,313   (1,433)   146,880 Interest expense   59,946   652   60,598 Pretax earnings   327,072   11,623   338,695 Income tax expense   78,595   3,262   81,857 Identifiable assets   17,892,739   721,295   18,614,034               Quarter Ended June 30, 2022             Total revenues $ 1,510,386 $ 87,454 $ 1,597,840 Depreciation and amortization, net of gains on disposal   120,986   2,789   123,775 Interest expense   48,948   851   49,799 Pretax earnings   431,881   13,518   445,399 Income tax expense   103,613   3,441   107,054 Identifiable assets   17,202,853   590,958   17,793,811
v3.23.2
Employee Benefit Plans
 3 Months Ended
Jun. 30, 2023
Compensation and Retirement Disclosure [Abstract]  
13. Employee Benefit Plans 13. Employee Benefit Plans The components of the net periodic benefit costs with respect to postretirement benefits were as follows:       Quarter Ended June 30,     2023   2022     (Unaudited)     (In thousands)           Service cost for benefits earned during the period $ 297 $   332 Other components of net periodic benefit costs:         Interest cost on accumulated postretirement benefit   367   287 Other components   (2)   17 Total other components of net periodic benefit costs   365   304 Net periodic postretirement benefit cost$ 662 $  636
v3.23.2
Fair Value Measurements
 3 Months Ended
Jun. 30, 2023
Fair Value Disclosures [Abstract]  
14. 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 are 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 are based on quoted market prices. Fair values of investments available-for-sale are based on quoted market prices, dealer quotes or discounted cash flows. Fair values on interest rate swap contracts are based on using pricing valuation models which include broker quotes. Fair values of long-term investment and mortgage loans and notes on real estate 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. 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     Carrying               Total Estimated As of June 30, 2023   Value   Level 1   Level 2   Level 3   Fair Value     (Unaudited) Assets   (In thousands) Reinsurance recoverables and trade receivables, net $ 206,663 $ – $ – $ 206,663 $ 206,663 Mortgage loans, net   510,307   –   –   494,664   494,664 Other investments   109,833   –   –   109,833   109,833 Total $ 826,803 $ – $ – $ 811,160 $ 811,160                                             Liabilities                     Notes, loans and finance leases payable   6,323,782   –   5,743,138   –   5,743,138 Total $ 6,323,782 $ – $ 5,743,138 $ – $ 5,743,138       Fair Value Hierarchy     Carrying               Total Estimated As of March 31, 2023   Value   Level 1   Level 2   Level 3   Fair Value     (In thousands) Assets                     Reinsurance recoverables and trade receivables, net $ 189,498 $ – $ – $ 189,498 $ 189,498 Mortgage loans, net   466,531   –   –   444,957   444,957 Other investments   109,009   –   –   109,009   109,009 Total $ 765,038 $ – $ – $ 743,464 $ 743,464                                             Liabilities                     Notes, loans and finance leases payable   6,143,350   –   5,710,735   –   5,710,735 Total $ 6,143,350 $ – $ 5,710,735 $ – $ 5,710,735   The following tables represent the financial assets and liabilities on the consolidated balance sheets as of June 30, 2023 and March 31, 2023 that are measured at fair value on a recurring basis and the level within the fair value hierarchy.   As of June 30, 2023   Total   Level 1   Level 2   Level 3     (Unaudited) Assets   (In thousands) Short-term investments $ 2,055,145 $ 2,053,510 $ 1,635 $ – Fixed maturities - available for sale   2,407,226   24,549   2,382,618   59 Preferred stock   20,556   20,556   –   – Common stock   41,730   41,730   –   – Derivatives   16,793   7,539   9,254   – Total $ 4,541,450 $ 2,147,884 $ 2,393,507 $ 59   As of March 31, 2023   Total   Level 1   Level 2   Level 3     (In thousands) Assets                 Short-term investments $ 1,809,441 $ 1,808,797 $ 644 $ – Fixed maturities - available for sale   2,709,037   251,832   2,457,146   59 Preferred stock   21,982   21,982   –   – Common stock   39,375   39,375   –   – Derivatives   9,606   4,295   5,311   – Total $ 4,589,441 $ 2,126,281 $ 2,463,101 $ 59   The fair value measurements for our assets using significant unobservable inputs (Level 3) were $0.1 million for both June 30, 2023 and March 31, 2023.
v3.23.2
Revenue Recognition
 3 Months Ended
Jun. 30, 2023
Revenue From Contract With Customer [Abstract]  
Revenue Recognition Revenue Recognized in Accordance with Topic 606 ASC Topic 606, Revenue from Contracts with Customers (Topic 606) , 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 disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. 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 June 30, 2023 and March 31, 2023. 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. 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. 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. Additionally, in certain contracts the Company has the ability to earn an incentive fee based on operational results. 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 first quarter of fiscal 2024 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 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. 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 with Topic 842 ASC Topic 842, Leases (Topic 842), The Company’s self-moving equipment rental revenues meet the definition of a lease pursuant to the guidance in Topic 842 because those substitution rights do not provide an economic benefit to the Company that would exceed the cost of exercising the right. Please see Note 8, Leases, of the Notes to the Condensed Consolidated Financial Statements. Self-moving equipment rentals are recognized over the contract period that trucks and moving equipment are rented. We offer two types of self-moving rental contracts, one-way rentals and in-town rentals, which have varying payment terms. Customer payment is received at the initiation of the contract for one-way rentals which covers an allowable limit for equipment usage. An estimated fee in the form of a deposit is received at the initiation of the contract for in-town rentals, and final payment is received upon the return of the equipment based on actual fees incurred. The contract price is estimated at the initiation of the contract, as there is variable consideration associated with ratable fees incurred based on the number of days the equipment is rented and the number of miles driven. Variable consideration is estimated using the most likely amount method which is based on the intended use of the rental equipment by the customer at the initiation of the contract. Historically, the variability in estimated transaction pricing compared to actual is not significant due to the relatively short duration of rental contracts. Each performance obligation has an observable stand-alone selling price. The input method of passage of time is appropriate as there is a direct relationship between our inputs and the transfer of benefit to the customer over the life of the contract. Self-moving rental contracts span a relatively short period of time, and the majority of these contracts began and ended within the same fiscal year. 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:       Years Ending June 30,     2024   2025   2026   2027   2028   Thereafter     (Unaudited)     (In thousands)                           Self-moving equipment rentals $ 6,947 $ – $ – $ – $ – $ – Property lease revenues   21,052   14,626   11,834   8,920   6,235   39,797 Total $ 27,999 $ 14,626 $ 11,834 $ 8,920 $ 6,235 $ 39,797   The amounts above do not reflect future rental revenue from the renewal or replacement of existing leases. 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. Property and casualty insurance premiums are recognized as revenue over the policy periods. Interest and investment income are recognized as earned. 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. In the following table, revenue is disaggregated by timing of revenue recognition:       Quarter Ended June 30,     2023   2022     (Unaudited)     (In thousands)           Revenues recognized over time: $   91,315 $   103,194 Revenues recognized at a point in time:   117,593   126,355 Total revenues recognized under ASC 606   208,908   229,549           Revenues recognized under ASC 842   1,222,316   1,288,031 Revenues recognized under ASC 944   44,492   46,687 Revenues recognized under ASC 320   64,592   33,573 Total revenues $   1,540,308 $   1,597,840   In the above table, the revenues recognized over time include property management fees, the shipping fees associated with U-Box container rentals and a portion of other revenues. Revenues recognized at a point in time include self-moving equipment rentals, self-moving and self-storage products and service sales and a portion of other revenues . We recognized liabilities resulting from contracts with customers for self-moving equipment rentals, self-storage revenues, U-Box revenues and tenant revenues, 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.
v3.23.2
Allowance for Credit Losses
 3 Months Ended
Jun. 30, 2023
Allowance For Credit Loss [Abstract]  
Allowance For Credit Losses [Text Block] Trade Receivables Moving and Storage has two ( 2 ) primary components of trade receivables, receivables from corporate customers and credit card receivables from customer sales and rental of equipment.   For credit card receivables, the Company uses a trailing 13 months average historical chargeback percentage of total credit card receivables to estimate a credit loss reserve. The Company rents equipment to corporate customers in which payment terms are 30 days. The Company performs ongoing credit evaluations of its customers and assesses each customer’s credit worthiness. In addition, the Company monitors collections and payments from its customers and maintains an allowance based upon applying an expected credit loss rate to receivables based on the historical loss rate from similar high-risk customers adjusted for current conditions, including any specific customer collection issues identified, and forecasts of economic conditions. Delinquent account balances are written off after management has determined that the likelihood of collection is remote. Management believes that the historical loss information it has compiled is a reasonable base on which to determine expected credit losses for trade receivables because the composition of trade receivables as of that date is consistent with that used in developing the historical credit loss percentages (i.e., the similar risk characteristics of its customers and its lending practices have not changed significantly over time).   To adjust the historical loss rates to reflect the effects of these differences in current conditions and forecasted changes, management assigns a rating to each customer which varies depending on the assessment of risk. Management estimated the loss rate at approximately 4 % as of June 30, 2023 and March 31, 2023. Management developed this estimate based on its knowledge of past experience for which there were similar improvements in the economy. As a result, management applied the applicable credit loss rates to determine the expected credit loss estimate for each aging category. Accordingly, the allowance for expected credit losses as of June 30, 2023 and March 31, 2023 was $ 4.9 million and $ 3.8 million, respectively. Accrued Interest Receivable Accrued interest receivables on available for sale securities totaled $ 29.6 million as of March 31, 2023 and December 31, 2022 and are excluded from the estimate of credit losses. We have elected not to measure an allowance on accrued interest receivables as our practice is to write off the uncollectible balance in a timely manner. Furthermore, we have elected to write off accrued interest receivables by reversing interest income. Mortgage loans, net Loans that management has the intent and ability to hold for the foreseeable future, or until maturity or payoff, are reported at amortized cost.   Modeling for the Company’s mortgage loans is based on inputs most highly correlated to defaults, including loan-to-value, occupancy, and payment history.   Historical credit loss experience provides additional support for the estimation of expected credit losses. In assessing the credit losses, the portfolio is reviewed on a collective basis, using loan-specific cash flows to determine the fair value of the collateral in the event of default.   Adjustments to this analysis are made to assess loans with a loan-to-value of 65% or greater. These loans are evaluated on an individual basis and loan specific risk characteristics such as occupancy levels, expense, income growth and other relevant available information from internal and external sources relating to past events, current conditions, and reasonable and supportable forecasts. When management determines that credit losses are expected to occur, an allowance for expected credit losses based on the fair value of the collateral is recorded. Reinsurance recoverables Reinsurance recoverables on paid and unpaid benefits was less than 1 % of the total assets as of March 31, 2023 which is immaterial based on historical loss experience and high credit rating of the reinsurers. Premium receivables Premium receivables were $4.1 million as of March 31, 2023 and December 31, 2022, respectively in which the credit loss allowance is immaterial based on our ability to cancel the policy if the policyholder does not pay premiums. The following details the changes in the Company’s reserve allowance for credit losses for trade receivables, fixed maturities and investments, other:     Allowance for Credit Losses     Trade Receivables   Investments, Fixed Maturities   Investments, other   Total     (Unaudited)     (in thousands) Balance as of March 31, 2022 $ 8,649 $ 60 $ 501 $ 9,210 Provision for (reversal of) credit losses   (4,860)   2,041   16   (2,803) Write-offs against allowance   –   –   –   – Recoveries   –   –   –   – Balance as of March 31, 2023 $ 3,789 $ 2,101 $ 517 $ 6,407 Provision for (reversal of) credit losses   591   (455)   301   437 Write-offs against allowance   –   –   –   – Recoveries   –   –   –   – Balance as of June 30, 2023 $ 4,380 $ 1,646 $ 818 $ 6,844
v3.23.2
Accounting Pronouncements
 3 Months Ended
Jun. 30, 2023
New Accounting Pronouncements And Changes In Accounting Principles [Abstract]  
New Accounting Pronouncements And Changes In Accounting Principles [Text Block] Adoption of new Accounting Pronouncements On April 1, 2023, the Company adopted Accounting Standards Update (“ASU“) 2018-12,   Targeted Improvements to the Accounting for Long-Duration Contracts which is applicable to Oxford. The Company used the modified retrospective method applies as the transition date of April 1, 2021. The updated accounting guidance required changes to the measurement and disclosure of long-duration contracts. For the Company, this includes all life insurance products, annuities, Medicare Supplement products and our long-term care business. Entities will be required to review, and update if there is a change to cash flow assumptions (including morbidity and persistency) at least annually, and to update discount rate assumptions quarterly using an upper-medium grade fixed-income instrument yield. The effect of changes in cash flow assumptions will be recorded in the Company's results of operations and the effect of changes in discount rate assumptions will be recorded in other comprehensive income. The most significant impact will be the effect of updating the discount rate assumption quarterly to reflect an upper-medium grade fixed-income instrument yield, rather than Oxford Life’s expected investment portfolio yield. This will be partially offset by the de-recognition of cumulative adjustments to DAC associated with unrealized gains and losses associated with long-duration contracts. The Company uses a published spot rate curve constructed from “A”-rated U.S. dollar denominated corporate bonds matched to the duration of the corresponding insurance liabilities, to calculate discount rates. The Company will groups its long-duration contracts into calendar year cohorts based on the contract issue date. DAC and other capitalized costs such as unearned revenue are amortized on a constant level or straight-line basis over the expected term of the contracts. Under ASU 2018-12, the annual amortization of DAC in our Consolidated Statements of Operations will differ from previous trends due to: 1) the requirement to no longer defer renewal commissions until such year as the commissions are actually incurred, 2) the requirement to no longer accrue and amortize interest on our DAC balances, and 3) the modification of the method for amortizing DAC including the updating of assumptions. For business with deferrals of renewal commissions, as is the case with our final expense life insurance policies, the expected amortization rate, as a percentage of premium, for certain blocks of business will no longer be level but will increase over the period of time during which commissions are deferred. The decrease in amortization in the near term will primarily impact our life insurance line of business. Upon adoption, the Company made adjustments to AOCI for the removal of cumulative adjustments to DAC associated with unrealized gains and losses previously recorded in AOCI. In total, we expect the impact on net earnings, largely from the decrease in amortization, to be immaterial during fiscal 2024, but could become material with a large increase in sales. Market risk benefits, which are contracts or contract features that provide protection to the policyholder from capital market risk and expose the Company to other-than-nominal capital market risk, are measured at fair value.   Market risk benefits are contracts or contract features that guarantee benefits, such as guaranteed life withdrawal benefits, in addition to an account balance which expose insurance companies to other than nominal capital market risk and protect the contract holder from the same risk. Certain contracts or contract features to be identified as market risk benefits were accounted for as embedded derivatives and measured at fair value, while others transitioned to fair value measurement upon the adoption of ASU 2018-12. Also in consideration of market risk benefits, upon adoption, there were impacts to (1) AOCI for the cumulative effect of changes in the instrument-specific credit risk between contract issue date and transition date and (2) retained earnings for the difference between fair value and carrying value at the transition date, excluding the changes in the instrument-specific credit risk. The requirement to review, and update if there is a change, cash flow assumptions at least annually is expected to change the pattern of earnings being recognized. Adoption will also significantly expand the Company’s disclosures, and will impact systems, processes, and controls. While the requirements of the new guidance represent a material change from existing GAAP, the accounting adoption had no economic impact on the cash flows of our business nor influence our business model of providing basic mortality and longevity protection-oriented products to the underserved senior market. In addition, it did not impact our statutory earnings, statutory capital, nor our capital management philosophies. The following tables present the effect of the adoption of ASU 2018-12 on selected consolidated balance sheet data for the fiscal years ended March 31, 2023 and 2022.     Year Ended March 31,     2023   2022     (Unaudited)     (In thousands) Total Assets         Prior to adoption $   18,124,648 $   17,299,581 Effect of adoption:         Derecognition of shadow reserves   (25,141)   26,131 Re-measurement due to discount rate   –   – Other adjustments   1,227   1,471 Subtotal $   (23,914) $   27,602           After adoption $   18,100,734 $   17,327,183       Year Ended March 31,     2023   2022     (Unaudited)     (In thousands) Total Liabilities         Prior to adoption $   11,596,313 $   11,347,089 Effect of adoption:         Derecognition of FIT on shadow reserves   (5,280)   5,488 Re-measurement due to discount rate   (1,626)   87,258 Re-measurement due to discount rate FIT   342   (18,324) Other adjustments   6,794   8,511 Subtotal $   230 $   82,933           After adoption $   11,596,543 $   11,430,022       Year Ended March 31,     2023   2022     (Unaudited)     (In thousands) Accumulated other comprehensive income (loss)         Prior to adoption $   (267,046) $   46,384 Effect of adoption:         Derecognition of shadow reserves   (19,861)   20,644 Re-measurement due to discount rate   1,626   (87,258) Re-measurement due to discount rate FIT   (342)   18,324 Other adjustments   –   – Subtotal $   (18,577) $   (48,290)           After adoption $   (285,623) $   (1,906)       Year Ended March 31,     2023   2022     (Unaudited)     (In thousands) Total Stockholders' equity         Prior to adoption $   6,528,335 $   5,952,492 Effect of adoption:         Derecognition of shadow reserves and FIT   (19,861)   20,644 Re-measurement due to discount rate and FIT   1,284   (68,934) Other adjustments   (5,567)   (7,042) Subtotal $   (24,144) $   (55,332)           After adoption $   6,504,191 $   5,897,160 The following table presents the Company’s consolidated balance sheet, both before and after the Transition date.     April 1, 2021   March 31, 2021     (Unaudited)     (In thousands)           Deferred policy acquisition costs, net $   131,187 $   89,749 Total assets   14,693,044   14,651,606 Policy benefits and losses, claims and loss expenses payable   1,040,951   909,701 Deferred income taxes, net   1,182,123   1,199,280 Total liabilities   9,846,608   9,732,515 Accumulated other comprehensive income   42,319   106,857 Retained earnings   5,017,451   5,025,568 Total stockholders' equity   4,846,436   4,919,091 Total liabilities and stockholders' equity   14,693,044   14,651,606 The impacts from the adoption of ASU 2018-12 on the Company’s previously reported results included in these financial statements are as follows: Condensed Consolidated Balance Sheet     Year Ended March 31, 2023     As previously reported   Adoption impact   As adjusted     (Unaudited)     (In thousands)               Deferred policy acquisition costs, net $   152,377   (23,914) $   128,463 Total assets   18,124,648   (23,914)   18,100,734 Policy benefits and losses, claims and loss expenses payable   875,034   5,168   880,202 Deferred income taxes, net   1,334,427   (4,938)   1,329,489 Total liabilities   11,596,313   230   11,596,543 Accumulated other comprehensive loss   (267,046)   (18,577)   (285,623) Retained earnings   7,008,715   (5,567)   7,003,148 Total stockholders' equity   6,528,335   (24,144)   6,504,191 Total liabilities and stockholders' equity   18,124,648   (23,914)   18,100,734 Condensed Consolidated Statement of Operations     Quarter Ended June 30, 2022     As previously reported   Adoption impact   As adjusted     (Unaudited)     (In thousands)               Benefits and losses $   44,100   (4,343) $   39,757 Pretax earnings   441,056   4,343   445,399 Net earnings available to common stockholders   334,002   4,343   338,345 Basic and diluted earnings per share of Common Stock $   2.15   0.03 $   2.18 Basic and diluted earnings per share of Non-Voting Common Stock $   1.65   0.03 $   1.68   The following tables present the balances of and changes in deferred acquisition costs, future policy benefits and market risk benefits and balances amortized on a basis consistent with DAC on April 1, 2021 due to the adoption of ASU 2018-12 by Oxford.   Deferred Policy Acquisition Costs   Payout Annuities   Life Insurance   Health Insurance   Total     (Unaudited)     (In thousands)                   Balance, end of year March 31, 2021 $ 15,654 $ 64,552 $ 9,543 $ 89,749 Adjustments for removal of related balances in accumulated other comprehensive income   41,438   –   –   41,438 Adjusted balance, beginning of year April 1, 2021 $ 57,092 $ 64,552 $ 9,543 $ 131,187 Future Policy Benefit   Payout Annuities   Life Insurance   Health Insurance   Total     (Unaudited)     (In thousands)                   Balance, end of year March 31, 2021 $ 8,370 $ 310,311 $ 18,341 $ 337,022 Change in discount rate assumptions   2,307   115,978   4,847   123,132 Change in cash flow assumptions, effect of net premiums exceeding gross premiums   –   1,747   –   1,747 Change in cash flow assumptions, effect of decrease of the deferred profit liability   –   2,580   –   2,580 Adjusted balance, beginning of year April 1, 2021 $ 10,677 $ 430,616 $ 23,188 $ 464,481   Market Risk Benefits               Deferred Annuities                 (Unaudited)                 (In thousands)                   Balance, end of year March 31, 2021             $ 7,339 Adjustment for the difference between carrying amount and fair value, except for the difference due to instrument-specific credit risk               3,791 Adjusted balance, beginning of year April 1, 2021             $ 11,130 The following table presents the effect of transition adjustments on stockholders’ equity due to the adoption of ASU 2018-12 for Oxford.             Retained Earnings   Accumulated Other Comprehensive Loss             (Unaudited)             (In thousands)                   Liability for future policy benefits         $ (4,327) $ (123,132) Market risk benefits           (3,791)   – Deferred acquistion costs and related asset balances           –   41,438 Tax effect           –   17,156 Total         $ (8,118) $ (64,538) Recent Accounting Pronouncements In March 2023, the FASB issued ASU 2023-01, Leases (Topic 842 – Common Control Arrangements (“ASU 2023-01”). ASU 2023-01, accounting for leasehold improvements, requires a lessee in a common-control lease arrangement to amortize leasehold improvements that it owns over the improvements  useful life to the common control group, regardless of the lease term, if the lessee continues to control the use of the underlying asset through a lease.  The amendment is effective for fiscal years beginning after December 15, 2023. We are currently in the process of evaluating the impact if any of the adoption of ASU 2023-01 on our financial statements.
v3.23.2
Deferred Policy Acquisition Costs, Net
 3 Months Ended
Jun. 30, 2023
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]  
Deferred Policy Acquisition Costs, Net Certain costs of acquiring new insurance business are deferred and recorded as an asset. These costs are capitalized on a grouped contract basis and amortized over the expected term of the related contracts, and are essential for the acquisition of new insurance business. Deferred acquisition costs (DAC) are directly related to the successful issuance of an insurance contract, and primarily include sales commissions, policy issue costs, direct to consumer advertising costs, and underwriting costs. Additionally, DAC includes the value of business acquired (VOBA), which are the costs of acquiring blocks of insurance from other companies or through the acquisition of other companies. These costs represent the difference between the fair value of the contractual insurance assets acquired and liabilities assumed, compared against the assets and liabilities for insurance contracts that the Company issues or holds measured in accordance with GAAP. DAC is amortized on a constant-level basis over the expected term of the grouped contracts, with the related expense included in amortization of deferred acquisition costs. The in-force metric used to compute the DAC amortization rate is premium deposit in-force for deferred annuities, policy count in-force for health insurance, and face amount in-force for life insurance. The assumptions used to amortize acquisition costs include mortality, morbidity, and persistency. These assumptions are reviewed at least annually and revised in conjunction with any change in the future policy benefit assumptions. The effect of changes in the assumptions are recognized over the remaining expected contract term as a revision of future amortization amounts. The following tables present a rollforward of deferred policy acquisition costs related to long-duration contracts for the three month periods ended June 30, 2023 and 2022.       Three Months Ended June 30, 2023     Payout Annuities   Life Insurance   Health Insurance   Total     (Unaudited)     (In thousands)                   Balance, beginning of year $ 55,396 $ 66,954 $ 6,113 $ 128,463 Capitalization   1,951   1,166   61   3,178 Amortization Expense   (3,384)   (1,944)   (190)   (5,518) Other, including Experience Adjustment   (1,632)   (327)   (568)   (2,527) Balance, end of period $ 52,331 $ 65,849 $ 5,416 $ 123,596       Three Months Ended June 30, 2022     Payout Annuities   Life Insurance   Health Insurance   Total     (Unaudited)     (In thousands)                   Balance, beginning of year $ 55,261 $ 67,573 $ 8,596 $ 131,430 Capitalization   4,935   2,340   123   7,398 Amortization Expense   (3,584)   (2,030)   (240)   (5,854) Other, including Experience Adjustment   (2,362)   852   (308)   (1,818) Balance, end of period$ 54,250 $ 68,735 $ 8,171 $ 131,156
v3.23.2
Life Insurance Liabilities
 3 Months Ended
Jun. 30, 2023
Insurance [Abstract]  
Life Insurance Liabilities The liability for future policy benefits for traditional and limited-payment long duration life and health products comprises approximately   91% of the total liability for future policy benefits. The liability is determined each reporting period based on the net level premium method. This method requires the liability for future policy benefits be calculated as the present value of estimated future policyholder benefits and the related termination expenses, less the present value of estimated future net premiums to be collected from policyholders. Net level premiums reflect a recomputed net premium ratio 1   using actual experience since the issue date or the Transition Date, and expected future experience. The liability is accrued as premium revenue is recognized and adjusted for differences between actual and expected experience. Long-duration insurance contracts issued by the Company are grouped into cohorts based on the contract issue year, distribution channel, legal entity and product type. Both the present value of expected future benefit payments and the present value of expected future net premiums are based primarily on assumptions of discount rates, mortality, morbidity, lapse, and persistency. Each quarter, the Company remeasures its liability for future policy benefits using current discount rates with the effect of the change recognized in Other Comprehensive Income, a component of shareholders’ equity. In addition, the Company recognizes a liability remeasurement gain or using original discount rates, and relating to actual experience under the net premium calculation, as compared to the prior reporting period assumptions. The Company reviews, and updates as necessary, its cash flow assumptions (mortality, morbidity, lapses and persistency) used to calculate the change in the liability for future policy benefits at least annually. These cash flow assumptions are reviewed at the same time every year, or more frequently, if suggested by experience. If cash flow assumptions are changed, the net premium ratio is recalculated from the original issue date, or the Transition Date, using actual experience and projected future cash flows. When the expected future net premiums exceed the expected future gross premiums, or the present value of future policyholder benefits exceeds the present value of expected future gross premiums, the liability for future policy benefits is adjusted with changes recognized in policyholder benefits. The cash flow assumptions do not include an adjustment for adverse deviation. Mortality tables used for individual life insurance include various industry tables and reflect modifications based on Company experience. Morbidity assumptions for individual health are based on Company experience and industry data. Lapse and persistency assumptions are based on Company experience. The liability for future policy benefits is discounted as noted above, using a current upper-medium grade fixed-income instrument yield that reflects the duration characteristics of the liability for future policy benefits. The methodology for determining current discount rates consists of constructing a discount rate curve intended to be reflective of the currency and tenor of the insurance liability cash flows. The methodology is designed to prioritize observable inputs based on market data available in the local debt markets denominated in the same currency as the policies. For the discount rates applicable to tenors for which the single-A debt market is not liquid or there is little or no observable market data, the Company will use estimation techniques consistent with the fair value guidance in ASC 820. We further accrete interest as a component of policyholder benefits using the original discount rate that is locked-in during the year of contract issuance. The original discount rates (or the locked-in discount rates) are used for interest accretion purposes and for the determination of net premiums, whereas the current discount rates are used for purposes of valuing the liability. The liability for future policy benefits for annuity and interest sensitive life-type products is represented by policy account value. For limited-payment contracts, a deferred profit liability is also recorded, with changes recognized in income over the life of the contract in proportion to the amount of insurance in-force. The following tables present the balances and changes in the policy benefits   and a reconciliation of the net liability for future policy benefits to the liability for future policy benefits for Oxford.   Three Months Ended June 30, 2023     Life Insurance   Health Insurance   Total   (Unaudited)   (In thousands) Present value of expected net premiums                           Balance, beginning of year $ 223,118 $ 196,569 $ 419,687 Beginning balance at original discount rate $ 225,071 $ 212,454 $ 437,525 Effect of changes in cash flow assumptions   –   –   – Effect of actual variances from expected experience   246   1   247 Adjusted beginning of year balance $ 225,317 $ 212,455 $ 437,772 Issuances   2,353   75   2,428 Interest accrual   2,574   2,112   4,686 Net premium collected   (9,769)   (6,810)   (16,579) Other   –   –   – Ending balance at original discount rate $ 220,475 $ 207,832 $ 428,307 Effect of changes in discount rate assumptions (AOCI)   2,166   (10,807)   (8,641) Balance, end of period $ 222,641 $ 197,025 $ 419,666               Present value of expected future policy benefits                           Balance, beginning of year $ 530,983 $ 210,054 $ 741,037 Beginning balance at original discount rate $ 533,688 $ 226,510 $ 760,198 Effect of changes in cash flow assumptions   –   –   – Effect of actual variances from expected experiences   355   2,133   2,488 Adjusted beginning of year balance $ 534,043 $ 228,643 $ 762,686 Issuances   2,398   75   2,473 Interest accrual   6,534   2,273   8,807 Benefit payments   (14,311)   (8,773)   (23,084) Other   –   –   – Ending balance at original discount rate $ 528,664 $ 222,218 $ 750,882 Effect of changes in discount rate assumptions (AOCI)   10,786   (11,015)   (229) Balance, end of period $ 539,450 $ 211,203 $ 750,653 End of period, LFPB net           330,987 Payout annuities and market risk benefits           31,375 Life and annuity ICOS and IBNR / Reinsurance losses payable           28,910 Life DPL / Other life and health           10,195 Oxford end of period balance           401,467 Moving and Storage balance           328,009 Property and Casualty balance           148,960 Policy benefit and losses, claims and loss expense balance, end of period         $ 878,436     Three Months Ended June 30, 2023     Life Insurance   Health Insurance   Total   (Unaudited)   (In thousands, except for percentages and weighted average information)               Expected gross premiums             Undiscounted balance $ 395,641 $ 348,671 $ 744,312 Discounted balance at original discount rate $ 305,166 $ 269,458 $ 574,624 Discounted balance at current discount rate $ 307,763 $ 257,488 $ 565,251               Expected policy benefits             Undiscounted balance $ 770,210 $ 289,249 $ 1,059,459 Discounted balance at original discount rate $ 528,663 $ 222,219 $ 750,882 Discounted balance at current discount rate $ 539,449 $ 211,204 $ 750,653               Mortality, lapses and morbidity             Mortality actual experience   5.29 % – %   Mortality expected experience   4.93 % – %   Lapses actual experience   1.71 % – %   Lapses expected experience   2.64 % – %   Morbidity actual experience   – % 92.11 %   Morbidity expected experience   – % 73.02 %                 Reserve and interest             Gross premiums $ 13,414 $ 9,358 $ 22,772 Other premiums           359 Total premiums         $ 23,131 Interest expense $ 3,960 $ 161 $ 4,121               Expected future lifetime (persistency) of policies in force (years)   8.2   8.4                   Weighted average original interest rate of the liability for future policy benefits   5.23 % 4.04 %                 Weighted average current interest rate of the liability for future policy benefits   4.87 % 4.68 %       Three Months Ended June 30, 2022     Life Insurance   Health Insurance   Total   (Unaudited)   (In thousands) Present value of expected net premiums                           Balance, beginning of year $ 280,371 $ 280,721 $ 561,092 Beginning balance at original discount rate $ 242,741 $ 253,297 $ 496,038 Effect of changes in cash flow assumptions   –   –   – Effect of actual variances from expected experience   (1,949)   (22,834)   (24,783) Adjusted beginning of year balance $ 240,792 $ 230,463 $ 471,255 Issuances   14,064   2,451   16,515 Interest accrual   2,818   2,330   5,148 Net premium collected   (10,517)   (7,706)   (18,223) Other   –   –   – Ending balance at original discount rate $ 247,157 $ 227,538 $ 474,695 Effect of changes in discount rate assumptions (AOCI)   20,298   6,510   26,808 Balance, end of period $ 267,455 $ 234,048 $ 501,503               Present value of expected future policy benefits                           Balance, beginning of year $ 672,254 $ 299,605 $ 971,859 Beginning balance at original discount rate $ 552,109 $ 269,157 $ 821,266 Effect of changes in cash flow assumptions   –   –   – Effect of actual variances from expected experiences   (4,530)   (21,750)   (26,280) Adjusted beginning of year balance $ 547,579 $ 247,407 $ 794,986 Issuances   14,064   2,451   16,515 Interest accrual   6,866   2,501   9,367 Benefit payments   (16,734)   (9,258)   (25,992) Other   –   –   – Ending balance at original discount rate $ 551,775 $ 243,101 $ 794,876 Effect of changes in discount rate assumptions (AOCI)   66,399   7,818   74,217 Balance, end of period $ 618,174 $ 250,919 $ 869,093 End of period, LFPB net           367,590 Payout annuities and market risk benefits           31,685 Life and annuity ICOS and IBNR / Reinsurance losses payable           42,293 Life DPL / Other life and health           11,423 Oxford end of period balance           452,991 Moving and Storage balance           339,155 Property and Casualty balance           159,142 Policy benefit and losses, claims and loss expense balance, end of period         $ 951,288     Three Months Ended June 30, 2022     Life Insurance   Health Insurance   Total   (Unaudited)   (In thousands, except for percentages and weighted average information)               Expected gross premiums             Undiscounted balance $ 446,750 $ 399,813 $ 846,563 Discounted balance at original discount rate $ 342,588 $ 306,424 $ 649,012 Discounted balance at current discount rate $ 370,404 $ 317,466 $ 687,870               Expected policy benefits             Undiscounted balance $ 816,240 $ 319,046 $ 1,135,286 Discounted balance at original discount rate $ 551,775 $ 243,102 $ 794,877 Discounted balance at current discount rate $ 618,174 $ 250,920 $ 869,094               Mortality, lapses and morbidity             Mortality actual experience   5.72 % – %   Mortality expected experience   4.64 % – %   Lapses actual experience   2.37 % – %   Lapses expected experience   2.53 % – %   Morbidity actual experience   – % 82.38 %   Morbidity expected experience   – % 70.92 %                 Reserve and interest             Gross premiums $ 14,526 $ 11,043 $ 25,569 Other premiums           212 Total premiums         $ 25,781 Interest expense $ 4,048 $ 171 $ 4,219               Expected future lifetime (persistency) of policies in force (years)   8.6   7.9                   Weighted average original interest rate of the liability for future policy benefits   5.40 % 4.11 %                 Weighted average current interest rate of the liability for future policy benefits   0.65 % 0.42 %     The following tables present the balances and changes in Liabilities from investment contracts account balances:     Three Months Ended June 30, 2023         Deferred Annuities     (Unaudited)     (In thousands, except for the average credited rate) Policyholder contract deposits account balance   Beginning of year $ 2,398,884 Deposits received   43,944 Surrenders and withdrawals   (64,445) Benefit payments   (10,813) Interest credited   16,760 Other   – End of period $ 2,384,330 Weighted average credited rate   2.79 Cash surrender value $ 2,069,292       Three Months Ended June 30, 2022         Deferred Annuities     (Unaudited)     (In thousands, except for the average credited rate) Policyholder contract deposits account balance   Beginning of year $ 2,336,238 Deposits received   86,136 Surrenders and withdrawals   (53,297) Benefit payments   (9,468) Interest credited   14,641 Other   – End of period $ 2,374,250 Weighted average credited rate   2.47 Cash surrender value$2,093,415
v3.23.2
Earnings Per Share (Table Text Block)
 3 Months Ended
Jun. 30, 2023
Earnings Per Share [Abstract]  
Schedule Of Earnings Per Share Basic And Diluted [Table Text Block]     For the Quarters Ended     June 30,     2023 2022     (Unaudited)     (In thousands, except share and per share amounts)           Weighted average shares outstanding of Voting Common Stock   19,607,788   19,607,788 Total weighted average shares outstanding for Voting Common Stock and Non-Voting Common Stock   196,077,880   196,077,880 Percent of weighted average shares outstanding of Voting Common Stock   10%   10%           Net earnings available to common stockholders $ 256,838 $ 338,345 Voting Common Stock dividends declared   –   (9,804) Non-Voting Common Stock dividends declared   (7,059)   – Undistributed earnings available to common stockholders $ 249,779 $ 328,541 Undistributed earnings available to common stockholders allocated to Voting Common Stock $ 24,978 $ 32,854           Undistributed earnings per share of Voting Common Stock $ 1.27 $ 1.68 Dividends declared per share of Voting Common Stock $ – $ 0.50 Basic and diluted earnings per share of Voting Common Stock $ 1.27 $ 2.18                     Weighted average shares outstanding of Non-Voting Common Stock   176,470,092   176,470,092 Total weighted average shares outstanding for Voting Common Stock and Non-Voting Common Stock   196,077,880   196,077,880 Percent of weighted average shares outstanding of Non-Voting Common Stock   90%   90%           Net earnings available to common stockholders $ 256,838 $ 338,345 Voting Common Stock dividends declared   –   (9,804) Non-Voting Common Stock dividends declared   (7,059)   – Undistributed earnings available to common stockholders $ 249,779 $ 328,541 Undistributed earnings available to common stockholders allocated to Non-Voting Common Stock $ 224,801 $ 295,687           Undistributed earnings per share of Non-Voting Common Stock $ 1.27 $ 1.68 Dividends declared per share of Non-Voting Common Stock $ 0.04 $ – Basic and diluted earnings per share of Non-Voting Common Stock$ 1.31 $ 1.68
v3.23.2
Investments (Table Text Block)
 3 Months Ended
Jun. 30, 2023
Investments Debt Equity Securities [Abstract]  
Adjusted Cost and Estimated Market Value of Available-for-sale Investments     June 30, 2023   March 31, 2023     Amortized   Fair Value   Amortized   Fair Value     (Unaudited)         (In thousands) Due in one year or less $ 134,115 $ 130,997 $ 354,875 $ 354,184 Due after one year through five years   734,777   698,857   754,175   717,552 Due after five years through ten years   699,066   637,939   736,089   665,708 Due after ten years   740,801   631,066   790,568   654,201     2,308,759   2,098,859   2,635,707   2,391,645                   Mortgage-backed securities   359,413   308,367   370,880   317,392  $ 2,668,172 $ 2,407,226 $ 3,006,587 $ 2,709,037
Available for sale equity investments     June 30, 2023   March 31, 2023     Amortized   Fair Value   Amortized   Fair Value     (Unaudited)             (In thousands)                   Common stocks $ 29,613 $ 41,730 $ 29,577 $ 39,375 Non-redeemable preferred stocks   25,144   20,556   26,054   21,982  $ 54,757 $ 62,286 $ 55,631 $ 61,357
Other investments, carrying value     June 30,   March 31,     2023   2023     (Unaudited)         (In thousands)           Mortgage loans, net $ 510,307 $ 466,531 Short-term investments   13,490   15,921 Real estate   72,257   72,178 Policy loans   10,852   10,921 Other equity investments   13,234   9,989  $ 620,140 $ 575,540
v3.23.2
Borrowings (Table Text Block)
 3 Months Ended
Jun. 30, 2023
Debt Instruments [Abstract]  
Long-Term Debt   Fiscal Year 2024             Weighted Avg     June 30,   March 31,   Interest Rates     Maturities   Interest Rates (b)     2023   2023                         (Unaudited)                             (In thousands) Real estate loans (amortizing term) (a) 4.30 % - 6.64 %   2027 - 2037   5.78 %   $ 286,677 $   289,647 Senior mortgages 2.70 % - 5.50 %   2024 - 2042   4.14 %     2,457,739   2,371,231 Real estate loans (revolving credit) - % - - %   - - 2027   – %     –   – Fleet loans (amortizing term) 1.61 % - 5.68 %   2023 - 2029   3.73 %     100,225   111,856 Fleet loans (revolving credit) 2.36 % - 6.50 %   2026 - 2028   5.72 %     590,000   615,000 Finance leases (rental equipment) 2.37 % - 5.01 %   2023 - 2026   3.92 %     189,037   223,205 Finance liabilities (rental equipment) 1.60 % - 6.13 %   2024 - 2031   4.12 %     1,425,854   1,255,763 Private placements 2.43 % - 2.88 %   2029 - 2035   2.65 %     1,200,000   1,200,000 Other obligations 1.50 % - 8.00 %   2023 - 2049   6.06 %     74,250   76,648 Notes, loans and finance leases payable                           6,323,782   6,143,350 Less: Debt issuance costs                             (36,551)   (35,308) Total notes, loans and finance leases payable, net                 $ 6,287,231 $   6,108,042       (a) Certain loans have interest rate swaps fixing the rate for the relevant loans between 2.72% and 2.86% based on current margin. The weighted average interest rate calculation for these loans was 4.08% using the swap adjusted interest rate.     (b) Weighted average rates as of June 30, 2023                                                     
Annual Maturities of Notes, Loans and Leases Payable     Years Ending June 30,         2024   2025   2026   2027   2028   Thereafter   Total     (Unaudited)     (In thousands) Notes, loans and finance leases payable$ 635,909 $ 474,221 $ 762,745 $ 766,958 $ 833,278 $ 2,850,671 $ 6,323,782
Components of interest expense     Quarter Ended June 30,     2023   2022     (Unaudited)     (In thousands) Interest expense $ 64,400 $ 50,405 Capitalized interest   (4,063)   (2,618) Amortization of transaction costs   1,411   1,446 Interest expense resulting from cash flow hedges   (1,150)   566 Total interest expense$ 60,598 $ 49,799
Interest rates and company borrowings     Revolving Credit Activity       Quarter Ended June 30,       2023   2022       (Unaudited)       (In thousands, except interest rates)   Weighted average interest rate during the quarter   6.26 % 1.99 % Interest rate at the end of the quarter   6.41 % 2.29 % Maximum amount outstanding during the quarter $ 715,000 $ 1,095,000   Average amount outstanding during the quarter $ 660,330 $ 1,095,000   Facility fees$ 265 $ 58  
v3.23.2
Derivatives (Table Text Block)
 3 Months Ended
Jun. 30, 2023
Derivative Instrument Detail [Abstract]  
Derivatives     June 30, 2023   March 31, 2023     (Unaudited)         (In thousands) Interest rate swaps designated as cash flow hedges:         Assets $ 9,254 $ 5,311 Liabilities   –   – Notional amount  204,227   206,347
Derivative Fair Values Located in Accounts Payable and Accrued Expenses in the Balance Sheet     The Effect of Interest Rate Contracts on the Statements of Operations for the Quarters Ended         June 30, 2023   June 30, 2022     (Unaudited)     (In thousands) Gain recognized in AOCI on interest rate contracts $ (3,943) $ (736) (Gain) loss reclassified from AOCI into income$( 1,150 )$ 566
Effect of Interest Rate Contracts on the Statement of Operations     Derivatives Fair Values as of         June 30, 2023   March 31, 2023     (Unaudited)         (In thousands) Equity market contracts as economic hedging instruments         Assets $ 7,539 $ 4,295 Liabilities $ – $ – Notional amount$ 362,436 $ 465,701
v3.23.2
Accumulated Other Comprehensive Income (loss) (Table Text Block)
 3 Months Ended
Jun. 30, 2023
Table Text Block Supplement [Abstract]  
Summary of accumulated other comprehensive income (loss) components, net of tax     Foreign Currency Translation   Unrealized Net Gains (Losses) on Investments   Fair Market Value of Cash Flow Hedges   Postretirement Benefit Obligation Net Loss   Accumulated Other Comprehensive Loss     (Unaudited)     (In thousands) Balance as of March 31, 2023 $ (56,539) $   (232,740) $   4,007 $   (351) $   (285,623) Foreign currency translation   469   –   –   –   469 Unrealized net gains on investments   –   20,344   –   –   20,344 Change in fair value of cash flow hedges   –   –   3,842   –   3,842 Amounts reclassified into earnings on hedging activities   –   –   (868)   –   (868) Other comprehensive income (loss)   469   20,344   2,974   –   23,787 Balance as of June 30, 2023$( 56,070 )$ ( 212,396 )$  6,981 $ ( 351 )$  (261,836)
v3.23.2
Leases (Table Text Block)
 3 Months Ended 12 Months Ended
Jun. 30, 2023
Mar. 31, 2022
Leases [Abstract]    
Supplemental Balance Sheet Information Related to Leases     As of June 30, 2023     Finance   Operating   Total     (Unaudited)     (In thousands) Buildings and improvements $ – $ 133,248 $ 133,248 Furniture and equipment   7,109   –   7,109 Rental trailers and other rental equipment   128,865   –   128,865 Rental trucks   879,054   –   879,054 Right-of-use assets, gross   1,015,028   133,248   1,148,276 Less: Accumulated depreciation   (594,532)   (73,770)   (668,302) Right-of-use assets, net$ 420,496 $ 59,478 $ 479,974     As of March 31, 2023     Finance   Operating   Total     (In thousands) Buildings and improvements $ – $ 128,221 $ 128,221 Furniture and equipment   9,687   –   9,687 Rental trailers and other rental equipment   152,294   –   152,294 Rental trucks   949,838   –   949,838 Right-of-use assets, gross   1,111,819   128,221   1,240,040 Less: Accumulated depreciation   (637,054)   (69,304)   (706,358) Right-of-use assets, net$ 474,765 $ 58,917 $ 533,682
Summary of Weighted-average remaining lease terms and Discount rates     Finance leases       June 30,   March 31,       2023   2023       (Unaudited)       Weighted average remaining lease term (years)   2   2   Weighted average discount rate  3.9 % 3.8 %     Operating leases       June 30,   March 31,       2023   2023       (Unaudited)       Weighted average remaining lease term (years)   20.3   19.2   Weighted average discount rate  4.7 % 4.7 %
Components of Lease Expense     Three Months Ended     June 30, 2023   June 30, 2022     (Unaudited)     (In thousands)           Operating lease costs $ 8,102 $ 7,920           Finance lease cost:         Amortization of right-of-use assets $ 16,754 $ 22,396 Interest on lease liabilities   2,146   3,218 Total finance lease cost$ 18,900 $ 25,614  
Maturities of Lease Liabilities     Finance leases   Operating leases     (Unaudited) Years ending March 31,   (In thousands)           2024 (9 months) $ 75,174 $ 18,686 2025   77,194   12,244 2026   46,457   5,534 2027   –   4,087 2028   –   3,483 Thereafter   –   62,497 Total lease payments   198,825   106,531 Less: imputed interest   (9,788)   (47,723) Present value of lease liabilities$ 189,037 $ 58,808  
v3.23.2
Related Party Transations (Table Text Block)
 3 Months Ended
Jun. 30, 2023
Related Party Revenue [Abstract]  
Related Party Revenue     Quarter Ended June 30,     2023   2022     (Unaudited)     (In thousands) U-Haul management fee revenue from Blackwater $ 7,696 $ 7,729 U-Haul management fee revenue from Mercury   1,481   1,410  $ 9,177 $ 9,139
Related Party costs and expenses     Quarter Ended June 30,     2023   2022     (Unaudited)     (In thousands) U-Haul lease expenses to Blackwater $ 604 $ 604 U-Haul printing expenses to Blackwater   349   – U-Haul commission expenses to Blackwater   22,703   24,882  $ 23,656 $ 25,486
Related party assets     June 30,   March 31,     2023   2023     (Unaudited)         (In thousands) U-Haul receivable from Blackwater $ 41,146 $ 42,141 U-Haul receivable from Mercury   6,446   8,402 Other (a)   (4,490)   (2,235)  $ 43,102 $ 48,308
v3.23.2
Consolidating Financial Information By Industry Segment (Table Text Block)
 3 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Table Text Block Supplement [Abstract]    
Consolidated Balance Sheet by Industry Segment Consolidating balance sheets by industry segment as of June 30, 2023 are as follows:       Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Eliminations     U-Haul Holding Company Consolidated     (Unaudited)     (In thousands) Assets:   Cash and cash equivalents $ 2,302,380 $ 14,038 $ 60,706 $ –   $ 2,377,124 Reinsurance recoverables and trade receivables, net   125,222   49,051   32,390   –     206,663 Inventories and parts, net   164,884   –   –   –     164,884 Prepaid expenses   232,039   –   –   –     232,039 Investments, fixed maturities and marketable equities   –   274,003   2,195,509   –     2,469,512 Investments, other   23,330   129,392   467,418   –     620,140 Deferred policy acquisition costs, net   –   –   123,596   –     123,596 Other assets   54,916   1,063   4,842   –     60,821 Right of use assets - financing, net   420,496   –   –   –     420,496 Right of use assets - operating, net   58,622   850   24   –     59,496 Related party assets   65,625   2,860   11,945   (37,328) (c)   43,102     3,447,514   471,257   2,896,430   (37,328)     6,777,873                         Investment in subsidiaries   459,095   –   –   (459,095) (b)   –                         Property, plant and equipment, at cost:                       Land   1,555,326   –   –   –     1,555,326 Buildings and improvements   7,364,517   –   –   –     7,364,517 Furniture and equipment   942,036   –   –   –     942,036 Rental trailers and other rental equipment   866,916   –   –   –     866,916 Rental trucks   5,594,132   –   –   –     5,594,132     16,322,927   –   –   –     16,322,927 Less:   Accumulated depreciation   (4,486,766)   –   –   –     (4,486,766) Total property, plant and equipment, net   11,836,161   –   –   –     11,836,161 Total assets $ 15,742,770 $ 471,257 $ 2,896,430 $ (496,423)   $ 18,614,034                         (a) Balances as of March 31, 2023                       (b) Eliminate investment in subsidiaries                       (c) Eliminate intercompany receivables and payables                       Consolidating balance sheets by industry segment as of June 30, 2023, continued       Moving & Storage   Property & Casualty Insurance (a)   Life   Eliminations     U-Haul Holding Company     (Unaudited)     (In thousands) Liabilities:                       Accounts payable and accrued expenses $ 768,784 $ 3,303 $ 6,518 $ –   $ 778,605 Notes, loans and finance leases payable, net   6,287,231   –   –   –     6,287,231 Operating lease liabilities   57,937   864   7   –     58,808 Policy benefits and losses, claims and loss expenses payable   328,009   148,960   401,467   –     878,436 Liabilities from investment contracts   –   –   2,384,330   –     2,384,330 Other policyholders' funds and liabilities   –   2,435   9,783   –     12,218 Deferred income   64,790   –   –   –     64,790 Deferred income taxes, net   1,437,773   4,776   (70,690)   –     1,371,859 Related party liabilities   26,630   3,199   13,640   (43,469) (c)   – Total liabilities   8,971,154   163,537   2,745,055   (43,469)     11,836,277                         Stockholders' equity:                       Series preferred stock:                       Series A preferred stock   –   –   –   –     – Series B preferred stock   –   –   –   –     – Series A common stock   –   –   –   –     – Voting Common stock   10,497   3,301   2,500   (5,801) (b)   10,497 Non-Voting Common stock   176   –   –   –     176 Additional paid-in capital   453,853   91,120   26,271   (117,601) (b)   453,643 Accumulated other comprehensive income (loss)   (267,977)   (11,043)   (207,495)   224,679 (b)   (261,836) Retained earnings   7,252,717   224,342   330,099   (554,231) (b)   7,252,927 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   6,771,616   307,720   151,375   (452,954)     6,777,757 Total liabilities and stockholders' equity $ 15,742,770 $ 471,257 $ 2,896,430 $ (496,423)   $ 18,614,034                         (a) Balances as of March 31, 2023                       (b) Eliminate investment in subsidiaries                       (c) Eliminate intercompany receivables and payables            Consolidating balance sheets by industry segment as of March 31, 2023 are as follows:       Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Eliminations     U-Haul Holding Company Consolidated       Assets:   (In thousands) Cash and cash equivalents $   2,034,242 $   11,276 $   15,006 $   –   $   2,060,524 Reinsurance recoverables and trade receivables, net   107,823   48,344   33,331   –     189,498 Inventories and parts, net   151,474   –   –   –     151,474 Prepaid expenses   241,711   –   –   –     241,711 Investments, fixed maturities and marketable equities   227,737   271,156   2,271,501   –     2,770,394 Investments, other   23,314   125,130   427,096   –     575,540 Deferred policy acquisition costs, net   –   –   128,463   –     128,463 Other assets   46,438   730   3,884   –     51,052 Right of use assets - financing, net   474,765   –   –   –     474,765 Right of use assets - operating, net   57,978   914   25   –     58,917 Related party assets   69,144   2,347   12,268   (35,451) (c)   48,308     3,434,626   459,897   2,891,574   (35,451)     6,750,646                         Investment in subsidiaries   426,779   –   –   (426,779) (b)   –                         Property, plant and equipment, at cost:                       Land   1,537,206   –   –   –     1,537,206 Buildings and improvements   7,088,810   –   –   –     7,088,810 Furniture and equipment   928,241   –   –   –     928,241 Rental trailers and other rental equipment   827,696   –   –   –     827,696 Rental trucks   5,278,340   –   –   –     5,278,340     15,660,293   –   –   –     15,660,293 Less:   Accumulated depreciation   (4,310,205)   –   –   –     (4,310,205) Total property, plant and equipment, net   11,350,088   –   –   –     11,350,088 Total assets $   15,211,493 $   459,897 $   2,891,574 $   (462,230)   $   18,100,734                         (a) Balances as of December 31, 2022                       (b) Eliminate investment in subsidiaries                       (c) Eliminate intercompany receivables and payables                       Consolidating balance sheets by industry segment as of March 31, 2023, continued       Moving & Storage   Property & Casualty Insurance (a)   Life   Eliminations     U-Haul Holding Company                             (In thousands) Liabilities:                       Accounts payable and accrued expenses $ 729,679 $ 4,470 $ 26,890 $ –   $ 761,039 Notes, loans and finance leases payable, net   6,108,042   –   –   –     6,108,042 Operating lease liabilities   57,418   928   27   –     58,373 Policy benefits and losses, claims and loss expenses payable   335,227   153,007   391,968   –     880,202 Liabilities from investment contracts   –   –   2,398,884   –     2,398,884 Other policyholders' funds and liabilities   –   2,702   5,530   –     8,232 Deferred income   52,282   –   –   –     52,282 Deferred income taxes, net   1,405,391   1,713   (77,615)   –     1,329,489 Related party liabilities   25,082   2,544   13,644   (41,270) (c)   – Total liabilities   8,713,121   165,364   2,759,328   (41,270)     11,596,543                         Stockholders' equity:                       Series preferred stock:                       Series A preferred stock   –   –   –   –     – Series B preferred stock   –   –   –   –     – Series A common stock   –   –   –   –     – Voting Common stock   10,497   3,301   2,500   (5,801) (b)   10,497 Non-Voting Common Stock   176   –   –   –     176 Additional paid-in capital   453,853   91,120   26,271   (117,601) (b)   453,643 Accumulated other comprehensive income (loss)   (291,442)   (14,720)   (225,904)   246,443 (b)   (285,623) Retained earnings   7,002,938   214,832   329,379   (544,001) (b)   7,003,148 Cost of common shares in treasury, net   (525,653)   –   –   –     (525,653) Cost of preferred shares in treasury, net   (151,997)   –   –   –     (151,997) Total stockholders' equity   6,498,372   294,533   132,246   (420,960)     6,504,191 Total liabilities and stockholders' equity $ 15,211,493 $ 459,897 $ 2,891,574 $ (462,230)   $ 18,100,734                         (a) Balances as of December 31, 2022                       (b) Eliminate investment in subsidiaries                       (c) Eliminate intercompany receivables and payables           
Consolidated Statement of Operations by Industry Segment Consolidating statement of operations by industry segment for the quarter ended June 30, 2023 are as follows:       Moving & Storage   Property & Casualty Insurance (a)   Life   Eliminations     U-Haul Holding Company     (Unaudited)     (In thousands) Revenues:                       Self-moving equipment rentals $ 1,000,079 $ – $ – $ (873) (c) $ 999,206 Self-storage revenues   198,961   –   –   –     198,961 Self-moving and self-storage products and service sales   100,872   –   –   –     100,872 Property management fees   9,177   –   –   –     9,177 Life insurance premiums   –   –   23,131   –     23,131 Property and casualty insurance premiums   –   21,047   –   (725) (c)   20,322 Net investment and interest income   27,295   6,792   31,511   (1,006) (b)   64,592 Other revenue   123,129   –   1,039   (121) (b)   124,047 Total revenues   1,459,513   27,839   55,681   (2,725)     1,540,308                         Costs and expenses:                       Operating expenses   748,283   11,307   5,366   (1,715) (b,c)   763,241 Commission expenses   106,927   –   –   –     106,927 Cost of sales   70,675   –   –   –     70,675 Benefits and losses   –   4,458   40,886   –     45,344 Amortization of deferred policy acquisition costs   –   –   8,045   –     8,045 Lease expense   8,102   92   28   (639) (b)   7,583 Depreciation, net of gains on disposals   137,814   –   –   –     137,814 Net losses on disposal of real estate   1,021   –   –   –     1,021 Total costs and expenses   1,072,822   15,857   54,325   (2,354)     1,140,650                         Earnings from operations before equity in earnings of subsidiaries   386,691   11,982   1,356   (371)     399,658                         Equity in earnings of subsidiaries   10,230   –   –   (10,230) (d)   –                         Earnings from operations   396,921   11,982   1,356   (10,601)     399,658 Other components of net periodic benefit costs   (365)   –   –   –     (365) Interest expense   (60,849)   –   (120)   371 (b)   (60,598) Pretax earnings   335,707   11,982   1,236   (10,230)     338,695 Income tax expense   (78,869)   (2,472)   (516)   –     (81,857) Net earnings available to common stockholders $ 256,838 $ 9,510 $ 720 $ (10,230)   $ 256,838                         (a) Balances for the quarter ended March 31, 2023                       (b) Eliminate intercompany lease / interest income                       (c) Eliminate intercompany premiums                       (d) Eliminate equity in earnings of subsidiaries             Consolidating statements of operations by industry for the quarter ended June 30, 2022 are as follows:       Moving & Storage   Property & Casualty Insurance (a)   Life   Eliminations     U-Haul Holding Company     (Unaudited)     (In thousands) Revenues:                       Self-moving equipment rentals $ 1,091,710 $ – $ – $ (935) (c) $ 1,090,775 Self-storage revenues   173,177   –   –   –     173,177 Self-moving and self-storage products and service sales   109,351   –   –   –     109,351 Property management fees   9,139   –   –   –     9,139 Life insurance premiums   –   –   25,781   –     25,781 Property and casualty insurance premiums   –   20,830   –   (858) (c)   19,972 Net investment and interest income   4,940   2,252   27,388   (1,007) (b)   33,573 Other revenue   135,281   –   934   (143) (b)   136,072 Total revenues   1,523,598   23,082   54,103   (2,943)     1,597,840                         Costs and expenses:                       Operating expenses   719,794   10,194   5,109   (1,930) (b,c)   733,167 Commission expenses   118,493   –   –   –     118,493 Cost of sales   79,671   –   –   –     79,671 Benefits and losses   –   4,379   35,378   –     39,757 Amortization of deferred policy acquisition costs   –   –   7,672   –     7,672 Lease expense   7,920   158   28   (631) (b)   7,475 Depreciation, net of gains on disposals   113,796   –   –   –     113,796 Net losses on disposal of real estate   2,307   –   –   –     2,307 Total costs and expenses   1,041,981   14,731   48,187   (2,561)     1,102,338                         Earnings from operations before equity in earnings of subsidiaries   481,617   8,351   5,916   (382)     495,502                         Equity in earnings of subsidiaries   12,009   –   –   (12,009) (d)   –                         Earnings from operations   493,626   8,351   5,916   (12,391)     495,502 Other components of net periodic benefit costs   (304)   –   –   –     (304) Interest expense   (50,061)   –   (120)   382 (b)   (49,799) Pretax earnings   443,261   8,351   5,796   (12,009)     445,399 Income tax expense   (104,916)   (1,755)   (383)   –     (107,054) Net earnings available to common stockholders $ 338,345 $ 6,596 $ 5,413 $ (12,009)   $ 338,345                         (a) Balances for the quarter ended March 31, 2022                       (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 quarter ended June 30, 2023 are as follows:     Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Elimination     U-Haul Holding Company Consolidated     (Unaudited) Cash flows from operating activities:   (In thousands) Net earnings $   256,838 $   9,510 $   720 $   (10,230)   $   256,838 Earnings from consolidated entities   (10,230)   –   –   10,230     – Adjustments to reconcile net earnings to the cash provided by operations:                       Depreciation   193,475   –   –   –     193,475 Amortization of deferred policy acquisition costs   –   –   8,045   –     8,045 Amortization of premiums and accretion of discounts related to investments, net   –   383   4,011   –     4,394 Amortization of debt issuance costs   1,456   –   –   –     1,456 Interest credited to policyholders   –   –   17,538   –     17,538 Provision for allowance (recoveries) for losses on trade receivables, net   631   (39)   –   –     592 Provision for allowance for inventories and parts reserve   (327)   –   –   –     (327) Net gains on disposal of personal property   (55,661)   –   –   –     (55,661) Net losses on disposal of real estate   1,021   –   –   –     1,021 Net gains on sales of investments   –   (34)   (1,880)   –     (1,914) Net gains on equity investments   –   (2,429)   –   –     (2,429) Deferred income taxes, net   32,087   2,085   (64)   –     34,108 Net change in other operating assets and liabilities:                       Reinsurance recoverables and trade receivables   (17,964)   (411)   940   –     (17,435) Inventories and parts   (13,068)   –   –   –     (13,068) Prepaid expenses   9,870   –   –   –     9,870 Capitalization of deferred policy acquisition costs   –   –   (3,177)   –     (3,177) Other assets and right-of-use assets - operating, net   (8,769)   (231)   (957)   –     (9,957) Related party assets   3,645   (513)   –   –     3,132 Accounts payable and accrued expenses and operating lease liabilities   52,573   (1,166)   (18,295)   –     33,112 Policy benefits and losses, claims and loss expenses payable   (7,590)   (4,047)   (461)   –     (12,098) Other policyholders' funds and liabilities   –   (267)   4,253   –     3,986 Deferred income   12,441   –   (442)   –     11,999 Related party liabilities   1,547   655   (5)   –     2,197 Net cash provided by operating activities   451,975   3,496   10,226   –     465,697                         Cash flows from investing activities:                       Escrow deposits   (361)   –   –   –     (361) Purchases of:                       Property, plant and equipment   (773,577)   –   –   –     (773,577) Short term investments   –   (9,216)   (741)   –     (9,957) Fixed maturities investments   –   (495)   (2,756)   –     (3,251) Equity securities   –   (242)   –   –     (242) Real estate   (16)   –   (399)   –     (415) Mortgage loans   –   (7,300)   (45,150)   –     (52,450) Proceeds from sales and paydowns of:                       Property, plant and equipment   193,455   –   –   –     193,455 Short term investments   –   11,676   69   –     11,745 Fixed maturities investments   224,999   3,490   108,370   –     336,859 Equity securities   –   236   –   –     236 Preferred stock   –   913   –   –     913 Mortgage loans   –   204   8,173   –     8,377 Net cash (used) provided by investing activities   (355,500)   (734)   67,566   –     (288,668)     (page 1 of 2) (a) Balance for the period ended March 31, 2023                         Consolidating cash flow statements by industry segment for the quarter ended June 30, 2023, continued       Moving & Storage   Property &   Life   Elimination     U-Haul Holding Company     (Unaudited) Cash flows from financing activities:   (In thousands) Borrowings from credit facilities   445,493   –   –   –     445,493 Principal repayments on credit facilities   (232,824)   –   –   –     (232,824) Payments of debt issuance costs   (2,688)   –   –   –     (2,688) Finance lease payments   (34,168)   –   –   –     (34,168) Securitization deposits   79   –   –   –     79 Series N Non-Voting Common Stock dividends paid   (7,059)   –   –   –     (7,059) Investment contract deposits   –   –   51,239   –     51,239 Investment contract withdrawals   –   –   (83,331)   –     (83,331) Net cash provided (used) by financing activities   168,833   –   (32,092)   –     136,741                         Effects of exchange rate on cash   2,830   –   –   –     2,830                         Increase (decrease) in cash and cash equivalents   268,138   2,762   45,700   –     316,600 Cash and cash equivalents at beginning of period   2,034,242   11,276   15,006   –     2,060,524 Cash and cash equivalents at end of period $   2,302,380 $   14,038 $   60,706 $   –   $   2,377,124     (page 2 of 2) (a) Balance for the period ended March 31, 2023            Consolidating cash flow statements by industry segment for the quarter ended June 30, 2022 are as follows:       Moving & Storage Consolidated   Property & Casualty Insurance (a)   Life Insurance (a)   Elimination     U-Haul Holding Company Consolidated     (Unaudited) Cash flows from operating activities:   (In thousands) Net earnings $   338,345 $   6,596 $   5,413 $   (12,009)   $   338,345 Earnings from consolidated entities   (12,009)   –   –   12,009     – Adjustments to reconcile net earnings to cash provided by operations:                       Depreciation   178,144   –   –   –     178,144 Amortization of deferred policy acquisition costs   –   –   7,672   –     7,672 Amortization of premiums and accretion of discounts related to investments, net   –   421   4,508   –     4,929 Amortization of debt issuance costs   1,473   –   –   –     1,473 Interest credited to policyholders   –   –   15,157   –     15,157 Provision for allowance (recoveries) for losses on trade receivables, net   (6,075)   (76)   –   –     (6,151) Provision for allowance for inventories and parts reserve   4,646   –   –   –     4,646 Net gains on disposal of personal property   (64,348)   –   –   –     (64,348) Net gains on disposal of real estate   2,307   –   –   –     2,307 Net gains on sales of investments   –   (31)   299   –     268 Net gains on equity investments   –   1,551   –   –     1,551 Deferred income taxes   61,948   127   1,418   –     63,493 Net change in other operating assets and liabilities:                       Reinsurance recoverables and trade receivables   18,458   (2,107)   (457)   –     15,894 Inventories and parts   (10,347)   –   –   –     (10,347) Prepaid expenses   4,935   –   –   –     4,935 Capitalization of deferred policy acquisition costs   –   –   (7,398)   –     (7,398) Other assets and right-of-use assets - operating, net   2,177   (40)   (202)   –     1,935 Related party assets   747   (263)   –   –     484 Accounts payable and accrued expenses and operating lease liabilities   78,549   (549)   (3,324)   –     74,676 Policy benefits and losses, claims and loss expenses payable   8,875   (1,237)   (1,595)   –     6,043 Other policyholders' funds and liabilities   –   (159)   1,346   –     1,187 Deferred income   14,501   –   (53)   –     14,448 Related party liabilities   1,251   517   260   –     2,028 Net cash provided by operating activities   623,577   4,750   23,044   –     651,371                         Cash flows from investing activities:                       Escrow deposits   4,789   –   –   –     4,789 Purchases of:                       Property, plant and equipment   (646,137)   –   –   –     (646,137) Short term investments   –   (21,966)   (51)   –     (22,017) Fixed maturities investments   –   (9,839)   (26,649)   –     (36,488) Equity securities   –   (1,366)   –   –     (1,366) Mortgage loans   –   (6,975)   (35,586)   –     (42,561) Proceeds from sales and paydowns of:                       Property, plant and equipment   159,180   –   –   –     159,180 Short term investments   –   18,073   –   –     18,073 Fixed maturities investments   –   6,852   48,956   –     55,808 Equity securities   –   362   –   –     362 Mortgage loans   –   8,374   23,971   –     32,345 Net cash (used) provided by investing activities   (482,168)   (6,485)   10,641   –     (478,012)     (page 1 of 2) (a) Balance for the period ended March 31, 2022                       Consolidating cash flow statements by industry segment for the quarter ended June 30, 2022, continued       Moving & Storage   Property &   Life   Elimination     U-Haul Holding Company     (Unaudited) Cash flows from financing activities:   (In thousands) Borrowings from credit facilities   393,264   –   –   –     393,264 Principal repayments on credit facilities   (145,369)   –   –   –     (145,369) Payment of debt issuance costs   (1,069)   –   –   –     (1,069) Finance lease payments   (34,982)   –   –   –     (34,982) Voting Common Stock dividends paid   (9,804)   –   –   –     (9,804) Investment contract deposits   –   –   85,767   –     85,767 Investment contract withdrawals   –   –   (62,911)   –     (62,911) Net cash provided by financing activities   202,040   –   22,856   –     224,896                         Effects of exchange rate on cash   (4,121)   –   –   –     (4,121)                         Increase (decrease) in cash and cash equivalents   339,328   (1,735)   56,541   –     394,134 Cash and cash equivalents at beginning of period   2,643,213   10,800   50,124   –     2,704,137 Cash and cash equivalents at end of period $   2,982,541 $   9,065 $   106,665 $   –   $   3,098,271     (page 2 of 2) (a) Balance for the period ended March 31, 2022           
v3.23.2
Industry Segment and Geographic Area Data (Table Text Block)
 3 Months Ended
Jun. 30, 2023
Geographic Areas, Long-Lived Assets [Abstract]  
Industry Segment and Geographic Area Data     United States   Canada   Consolidated     (Unaudited)     (All amounts are in thousands of U.S. $'s) Quarter Ended June 30, 2023             Total revenues $ 1,461,284 $ 79,024 $ 1,540,308 Depreciation and amortization, net of gains on disposal   148,313   (1,433)   146,880 Interest expense   59,946   652   60,598 Pretax earnings   327,072   11,623   338,695 Income tax expense   78,595   3,262   81,857 Identifiable assets   17,892,739   721,295   18,614,034               Quarter Ended June 30, 2022             Total revenues $ 1,510,386 $ 87,454 $ 1,597,840 Depreciation and amortization, net of gains on disposal   120,986   2,789   123,775 Interest expense   48,948   851   49,799 Pretax earnings   431,881   13,518   445,399 Income tax expense   103,613   3,441   107,054 Identifiable assets  17,202,853   590,958   17,793,811
v3.23.2
Fair Value Measurements (Table Text Block)
 3 Months Ended 12 Months Ended
Jun. 30, 2023
Mar. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]    
Financial Instruments, Carrying and Estimated fair values     Fair Value Hierarchy     Carrying               Total Estimated As of June 30, 2023   Value   Level 1   Level 2   Level 3   Fair Value     (Unaudited) Assets   (In thousands) Reinsurance recoverables and trade receivables, net $ 206,663 $ – $ – $ 206,663 $ 206,663 Mortgage loans, net   510,307   –   –   494,664   494,664 Other investments   109,833   –   –   109,833   109,833 Total $ 826,803 $ – $ – $ 811,160 $ 811,160                                             Liabilities                     Notes, loans and finance leases payable   6,323,782   –   5,743,138   –   5,743,138 Total$ 6,323,782 $ – $ 5,743,138 $ – $ 5,743,138     Fair Value Hierarchy     Carrying               Total Estimated As of March 31, 2023   Value   Level 1   Level 2   Level 3   Fair Value     (In thousands) Assets                     Reinsurance recoverables and trade receivables, net $ 189,498 $ – $ – $ 189,498 $ 189,498 Mortgage loans, net   466,531   –   –   444,957   444,957 Other investments   109,009   –   –   109,009   109,009 Total $ 765,038 $ – $ – $ 743,464 $ 743,464                                             Liabilities                     Notes, loans and finance leases payable   6,143,350   –   5,710,735   –   5,710,735 Total$ 6,143,350 $ – $ 5,710,735 $ – $ 5,710,735
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis As of June 30, 2023   Total   Level 1   Level 2   Level 3     (Unaudited) Assets   (In thousands) Short-term investments $ 2,055,145 $ 2,053,510 $ 1,635 $ – Fixed maturities - available for sale   2,407,226   24,549   2,382,618   59 Preferred stock   20,556   20,556   –   – Common stock   41,730   41,730   –   – Derivatives   16,793   7,539   9,254   – Total$ 4,541,450 $ 2,147,884 $ 2,393,507 $ 59 As of March 31, 2023   Total   Level 1   Level 2   Level 3     (In thousands) Assets                 Short-term investments $ 1,809,441 $ 1,808,797 $ 644 $ – Fixed maturities - available for sale   2,709,037   251,832   2,457,146   59 Preferred stock   21,982   21,982   –   – Common stock   39,375   39,375   –   – Derivatives   9,606   4,295   5,311   – Total$ 4,589,441 $ 2,126,281 $ 2,463,101 $ 59
v3.23.2
Revenue Recognition (Table Text Block)
 3 Months Ended
Jun. 30, 2023
Revenue From Contract With Customer [Abstract]  
Next five years and thereafter revenue     Years Ending June 30,     2024   2025   2026   2027   2028   Thereafter     (Unaudited)     (In thousands)                           Self-moving equipment rentals $ 6,947 $ – $ – $ – $ – $ – Property lease revenues   21,052   14,626   11,834   8,920   6,235   39,797 Total$ 27,999 $ 14,626 $ 11,834 $ 8,920 $ 6,235 $ 39,797
Disaggregation Of Revenue     Quarter Ended June 30,     2023   2022     (Unaudited)     (In thousands)           Revenues recognized over time: $   91,315 $   103,194 Revenues recognized at a point in time:   117,593   126,355 Total revenues recognized under ASC 606   208,908   229,549           Revenues recognized under ASC 842   1,222,316   1,288,031 Revenues recognized under ASC 944   44,492   46,687 Revenues recognized under ASC 320   64,592   33,573 Total revenues$  1,540,308 $  1,597,840
v3.23.2
Allowance For Credit Losses (Table Text Block)
 3 Months Ended
Jun. 30, 2023
Allowance For Credit Loss [Abstract]  
Accounts Receivable Allowance For Credit Loss [Table Text Block]     Allowance for Credit Losses     Trade Receivables   Investments, Fixed Maturities   Investments, other   Total     (Unaudited)     (in thousands) Balance as of March 31, 2022 $ 8,649 $ 60 $ 501 $ 9,210 Provision for (reversal of) credit losses   (4,860)   2,041   16   (2,803) Write-offs against allowance   –   –   –   – Recoveries   –   –   –   – Balance as of March 31, 2023 $ 3,789 $ 2,101 $ 517 $ 6,407 Provision for (reversal of) credit losses   591   (455)   301   437 Write-offs against allowance   –   –   –   – Recoveries   –   –   –   – Balance as of June 30, 2023$ 4,380 $ 1,646 $ 818 $ 6,844
v3.23.2
Basis of Presentation (Narratives) (Details)
 3 Months Ended
Jun. 30, 2023
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]  
Number of reportable segments 3
v3.23.2
Earnings Per Share (Narratives) (Details)
Jun. 30, 2023
$ / shares
Common Stock [Member]  
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract]  
Allocation of common stock available to share holders 10.00%
Nonvoting Common Stock [Member]  
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract]  
Common stock, par or stated value per share $ 0.001
Allocation of common stock available to share holders 90.00%
v3.23.2
Earnings Per Share Calculation Basic Diluted Earnings Per Share Voting Non Voting Common Stock (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Earnings Per Share Diluted Other Disclosures [Abstract]    
Net earnings available to common shareholders $ 256,838 $ 338,345
Common Stock [Member]    
Earnings Per Share Diluted Other Disclosures [Abstract]    
Weighted Average Number Of Shares Outstanding Basic 19,607,788 19,607,788
Percent Weighted Average Shares Outstanding Common Stock 10.00% 10.00%
Net earnings available to common shareholders $ 0 $ 0
Voting Common Stock dividends declared 0 (9,804)
Non-Voting Common Stock dividends declared (7,059) 0
Non-Voting Common Stock dividends declared (249,779) (328,541)
Undistributed earnings available to common stockholders, participating securities $ 24,978 $ 32,854
Undistributed earnings per share, common stock $ 1.27 $ 1.68
Dividends declared per share, distributed 0 0.50
Basic and diluted earnings per share Common Stock $ 1.27 $ 2.18
Nonvoting Common Stock [Member]    
Earnings Per Share Diluted Other Disclosures [Abstract]    
Weighted Average Number Of Shares Outstanding Basic 176,470,092 176,470,092
Percent Weighted Average Shares Outstanding Common Stock 90.00% 90.00%
Net earnings available to common shareholders $ 0 $ 0
Voting Common Stock dividends declared 0 (9,804)
Non-Voting Common Stock dividends declared (7,059) 0
Non-Voting Common Stock dividends declared (249,779) (328,541)
Undistributed earnings available to common stockholders, participating securities $ 224,801 $ 295,687
Undistributed earnings per share, common stock $ 1.27 $ 1.68
Dividends declared per share, distributed 0.04 0
Basic and diluted earnings per share Common Stock $ 1.31 $ 1.68
Nonvoting Common Stock [Member] | Common Stock [Member]    
Earnings Per Share Diluted Other Disclosures [Abstract]    
Weighted Average Number Of Shares Outstanding Basic 196,077,880 196,077,880
v3.23.2
Investments (Narratives) (Details) - USD ($)
$ in Millions
 3 Months Ended
Jun. 30, 2023
Mar. 31, 2023
Real Estate [Abstract]    
Allowance for probable losses and any unamortized premiums or discount $ 0.5  
Insurance Regulatory Authorites:    
Assets held by insurance regulators 21.4 $ 23.4
Available for sale securities:    
Fair value of sold available for sale securites 113.0  
Other-than-temporary impairments $ 225.0  
v3.23.2
Investments (Available For Sale Investments) (Details) - USD ($)
$ in Thousands
Jun. 30, 2023
Mar. 31, 2023
Available-for-sale Securities [Abstract]    
Amortized cost, equity investments $ 2,668,172 $ 3,006,587
Gross Unrealized Gains 3,842 5,319
Gross unrealized losses more than 12 months (215,560) (118,943)
Gross unrealized losses less than 12 months (47,582) (181,825)
Allowance for Expected Credit Losses (1,646) (2,101)
Fair Value 2,407,226 2,709,037
U.S. treasury securities and government obligations [Member]    
Available-for-sale Securities [Abstract]    
Amortized cost, equity investments 128,050 353,189
Gross Unrealized Gains 391 3,061
Gross unrealized losses more than 12 months (7,620) (7,639)
Gross unrealized losses less than 12 months (1,973) (3,935)
Allowance for Expected Credit Losses 0 0
Fair Value 118,848 344,676
U.S. government agency mortgage-backed securities [Member]    
Available-for-sale Securities [Abstract]    
Amortized cost, equity investments 33,769 34,126
Gross Unrealized Gains 55 40
Gross unrealized losses more than 12 months (6,810) (6,707)
Gross unrealized losses less than 12 months (62) (228)
Allowance for Expected Credit Losses 0 0
Fair Value 26,952 27,231
Obligations of states and political subdivisions [Member]    
Available-for-sale Securities [Abstract]    
Amortized cost, equity investments 159,833 161,960
Gross Unrealized Gains 1,060 649
Gross unrealized losses more than 12 months (6,024) (4,014)
Gross unrealized losses less than 12 months (2,788) (8,090)
Allowance for Expected Credit Losses 0 0
Fair Value 152,081 150,505
Corporate securities [Member]    
Available-for-sale Securities [Abstract]    
Amortized cost, equity investments 1,987,107 2,086,432
Gross Unrealized Gains 2,253 1,491
Gross unrealized losses more than 12 months (147,453) (60,224)
Gross unrealized losses less than 12 months (39,283) (156,365)
Allowance for Expected Credit Losses (1,646) (2,101)
Fair Value 1,800,978 1,869,233
Mortgage-backed securities [Member]    
Available-for-sale Securities [Abstract]    
Amortized cost, equity investments 359,413 370,880
Gross Unrealized Gains 83 78
Gross unrealized losses more than 12 months (47,653) (40,359)
Gross unrealized losses less than 12 months (3,476) (13,207)
Allowance for Expected Credit Losses 0 0
Fair Value $ 308,367 $ 317,392
v3.23.2
Investments (Adjusted cost and estimated market value of available-for-sale investments) (Details) - USD ($)
$ in Thousands
Jun. 30, 2023
Mar. 31, 2023
Available-for-sale securities, amortized cost:    
Amortized cost $ 2,668,172 $ 3,006,587
Available-for-sale securities, fair value:    
Fair Value 2,407,226 2,709,037
US Treasury Securities [Member]    
Available-for-sale securities, amortized cost:    
Due in one year or less 134,115 354,875
Due after one year through five years 734,777 754,175
Due after five years through ten years 699,066 736,089
Due after ten years 740,801 790,568
Amortized cost 2,308,759 2,635,707
Available-for-sale securities, fair value:    
Due in one year or less 130,997 354,184
Due after one year through five years 698,857 717,552
Due after five years through ten years 637,939 665,708
Due after ten years 631,066 654,201
Fair Value 2,098,859 2,391,645
Mortgage-backed securities [Member]    
Available-for-sale securities, amortized cost:    
Amortized cost 359,413 370,880
Available-for-sale securities, fair value:    
Fair Value $ 308,367 $ 317,392
v3.23.2
Investments (Available for sale equity investments) (Details) - USD ($)
$ in Thousands
Jun. 30, 2023
Mar. 31, 2023
Marketable Securities [Abstract]    
Amortized cost, equity investments $ 54,757 $ 55,631
Estimated market value, equity investments 62,286 61,357
Common stocks [Member]    
Marketable Securities [Abstract]    
Amortized cost, equity investments 29,613 29,577
Estimated market value, equity investments 41,730 39,375
Non-redeemable preferred stocks [Member]    
Marketable Securities [Abstract]    
Amortized cost, equity investments 25,144 26,054
Estimated market value, equity investments $ 20,556 $ 21,982
v3.23.2
Investments (Carrying value of other investments) (Details) - USD ($)
$ in Thousands
Jun. 30, 2023
Mar. 31, 2023
Business Combination Separately Recognized Transactions Additional Disclosures [Abstract]    
Mortgage loans, net $ 494,664 $ 444,957
Investments other, amount 620,140 575,540
Other Investments [Member]    
Business Combination Separately Recognized Transactions Additional Disclosures [Abstract]    
Mortgage loans, net 510,307 466,531
Short-term investments 13,490 15,921
Real estate, other 72,257 72,178
Policy loans 10,852 10,921
Other equity investments 13,234 9,989
Investments other, amount $ 620,140 $ 575,540
v3.23.2
Borrowings (Narratives) (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Mar. 31, 2022
Mar. 31, 2023
Debt instruments, face, payment, and remaining balance amount:        
Notes, loans and leases payable $ 6,287,231     $ 6,108,042
Debt instruments, issuance and maturity dates:        
Remaining Lease Term Finance Lease Weighted Average 20.3   19.2  
Interest paid related to derivative contracts [Abstract]        
Interest paid in cash $ 55,400 $ 41,700    
Real estate loan [Member]        
Debt instruments, interest rate, effective percentage:        
Debt Weighted Average Interest Rate 5.78%      
Senior Mortgages [Member]        
Debt instruments, interest rate, effective percentage:        
Debt Weighted Average Interest Rate 4.14%      
Real estate loans (revolving credit) [Member]        
Debt instruments, interest rate, effective percentage:        
Debt Weighted Average Interest Rate 0.00%      
Real estate loans (revolving credit) [Member] | AMERCO [Member]        
Debt instruments, interest rate, effective percentage:        
Applicable margin, per loan agreement, minimum rate 1.55%      
Applicable margin, per loan agreement, maximum rate 6.65%      
Unused capacity fee 0.30%      
Debt instruments, face, payment, and remaining balance amount:        
Line of credit facility, maximum borrowing capacity $ 465,000      
Real estate loans (revolving credit) [Member] | AMERCO [Member] | Minimum [Member]        
Debt instruments, interest rate, effective percentage:        
Applicable margin interest rate 5.10%      
Working capital loans two [Member]        
Debt instruments, face, payment, and remaining balance amount:        
Capitalized assets, net book value       213,100
Rental Truck (amortizing loans) First Loan [Member]        
Debt instruments, interest rate, effective percentage:        
Debt Weighted Average Interest Rate 3.73%      
Rental Truck (amortizing loans) First Loan [Member] | Uhaul International, Inc [Member]        
Debt instruments, interest rate, effective percentage:        
Applicable margin interest rate 0.10%      
Sum of LIBOR and margin, maximum rate 2.36%      
Debt instruments, face, payment, and remaining balance amount:        
Line of credit facility, maximum borrowing capacity $ 615,000      
Line of credit, current borrowing capacity 590,000      
Line of credit facility, remaining borrowing capacity 100,000      
Capitalized assets, net book value $ 735,100     822,000
Rental Truck (amortizing loans) First Loan [Member] | Uhaul International, Inc [Member] | SOFR | Minimum [Member]        
Debt instruments, interest rate, stated percentage:        
Debt instrument, interest rate, stated percentage 5.03%      
Debt instruments, interest rate, effective percentage:        
Applicable margin, per loan agreement, minimum rate 1.15%      
Applicable margin, per loan agreement, maximum rate 6.28%      
Rental Truck (amortizing loans) First Loan [Member] | Uhaul International, Inc [Member] | SOFR | Maximum [Member]        
Debt instruments, interest rate, stated percentage:        
Debt instrument, interest rate, stated percentage 5.16%      
Debt instruments, interest rate, effective percentage:        
Applicable margin, per loan agreement, minimum rate 1.25%      
Applicable margin, per loan agreement, maximum rate 6.50%      
Capital Lease Obligations [Member]        
Debt instruments, interest rate, effective percentage:        
Debt Weighted Average Interest Rate 3.92%      
Finance Lease [Member]        
Debt instruments, interest rate, effective percentage:        
Debt Weighted Average Interest Rate 4.12%      
Debt instruments, face, payment, and remaining balance amount:        
Capitalized assets, net book value $ 420,500     474,800
Lease Cost [Abstract]        
Sale Leaseback Transaction Lease Terms seven (7) year terms      
Other Obligations [Member]        
Debt instruments, interest rate, effective percentage:        
Debt Weighted Average Interest Rate 6.06%      
Other Obligations [Member] | AMERCO [Member]        
Debt instruments, face, payment, and remaining balance amount:        
Notes, loans and leases payable $ 76,000      
Subsidiary holdings of parent company debt $ 1,700      
Amerco Real Estate Subsidiaries and Uhaul Company of Florida [Member] | Real estate loan [Member]        
Debt instruments, interest rate, effective percentage:        
Debt instrument, interest rate at period end 4.30%      
Debt instruments, face, payment, and remaining balance amount:        
Line of credit facility, maximum borrowing capacity $ 204,200      
Line of credit, current borrowing capacity $ 82,500      
Amerco Real Estate Subsidiaries and Uhaul Company of Florida [Member] | Real estate loan [Member] | SOFR        
Debt instruments, interest rate, effective percentage:        
Applicable margin, per loan agreement, maximum rate 0.10%      
Amerco Real Estate Subsidiaries and Uhaul Company of Florida [Member] | Real estate loan [Member] | SOFR | Minimum [Member]        
Debt instruments, interest rate, stated percentage:        
Debt instrument, interest rate, stated percentage 5.15%      
Debt instruments, interest rate, effective percentage:        
Applicable margin interest rate 5.90%      
Sum of LIBOR and margin, maximum rate 0.65%      
Amerco Real Estate Subsidiaries and Uhaul Company of Florida [Member] | Real estate loan [Member] | SOFR | Maximum [Member]        
Debt instruments, interest rate, stated percentage:        
Debt instrument, interest rate, stated percentage 5.16%      
Debt instruments, interest rate, effective percentage:        
Applicable margin interest rate 6.64%      
Sum of LIBOR and margin, maximum rate 1.38%      
Amerco Real Estate Company [Member] | Senior Mortgages [Member] | Minimum [Member]        
Debt instruments, interest rate, stated percentage:        
Debt instrument, interest rate, stated percentage 2.70%      
Amerco Real Estate Company [Member] | Senior Mortgages [Member] | Maximum [Member]        
Debt instruments, interest rate, stated percentage:        
Debt instrument, interest rate, stated percentage 5.50%      
Uhaul Intl and Subsidiaries [Member] | Rental Truck (amortizing loans) second loan [Member]        
Debt instruments, face, payment, and remaining balance amount:        
Capitalized assets, net book value $ 1,628,600     $ 1,499,100
Lease Cost [Abstract]        
Sale Leaseback Transaction Lease Terms seven (7) years      
v3.23.2
Borrowings (Long-term Debt Borrowings) (Details) - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2023
Mar. 31, 2023
Debt instrument, maturities:    
Notes, loans and leases payable, gross $ 5,743,138 $ 5,710,735
Notes, loans and finance/capital leases payable 6,323,782 6,143,350
Less: Debt issuance costs (36,551) (35,308)
Total notes, loans and finance/capital leases payable, net $ 6,287,231 6,108,042
Real estate loan (amortizing term) [Member]    
Debt instruments, interest rate, stated percentage:    
Debt Weighted Average Interest Rate 5.78%  
Debt instrument, maturities:    
Debt instrument, maturity year range, start 2027  
Debt instrument, maturity year range, end 2037  
Notes, loans and leases payable, gross $ 286,677 289,647
Real estate loan (amortizing term) [Member] | Minimum [Member]    
Debt instruments, interest rate, stated percentage:    
Debt instrument, interest rate, stated percentage 4.30%  
Real estate loan (amortizing term) [Member] | Maximum [Member]    
Debt instruments, interest rate, stated percentage:    
Debt instrument, interest rate, stated percentage 6.64%  
Senior Mortgages [Member]    
Debt instruments, interest rate, stated percentage:    
Debt Weighted Average Interest Rate 4.14%  
Debt instrument, maturities:    
Debt instrument, maturity year range, start 2024  
Debt instrument, maturity year range, end 2042  
Notes, loans and leases payable, gross $ 2,457,739 2,371,231
Senior Mortgages [Member] | Minimum [Member]    
Debt instruments, interest rate, stated percentage:    
Debt instrument, interest rate, stated percentage 2.70%  
Senior Mortgages [Member] | Maximum [Member]    
Debt instruments, interest rate, stated percentage:    
Debt instrument, interest rate, stated percentage 5.50%  
Real estate loans (revolving credit) [Member]    
Debt instruments, interest rate, stated percentage:    
Debt Weighted Average Interest Rate 0.00%  
Debt instrument, maturities:    
Debt instrument, maturity year range, end 2027  
Notes, loans and leases payable, gross $ 0 0
Real estate loans (revolving credit) [Member] | Minimum [Member]    
Debt instruments, interest rate, stated percentage:    
Debt instrument, interest rate, stated percentage 0.00%  
Real estate loans (revolving credit) [Member] | Maximum [Member]    
Debt instruments, interest rate, stated percentage:    
Debt instrument, interest rate, stated percentage 0.00%  
Fleet loans (amortizing term) [Member]    
Debt instruments, interest rate, stated percentage:    
Debt Weighted Average Interest Rate 3.73%  
Debt instrument, maturities:    
Debt instrument, maturity year range, start 2023  
Debt instrument, maturity year range, end 2029  
Notes, loans and leases payable, gross $ 100,225 111,856
Fleet loans (amortizing term) [Member] | Minimum [Member]    
Debt instruments, interest rate, stated percentage:    
Debt instrument, interest rate, stated percentage 1.61%  
Fleet loans (amortizing term) [Member] | Maximum [Member]    
Debt instruments, interest rate, stated percentage:    
Debt instrument, interest rate, stated percentage 5.68%  
Fleet loans (revolving credit) [Member]    
Debt instruments, interest rate, stated percentage:    
Debt Weighted Average Interest Rate 5.72%  
Debt instrument, maturities:    
Debt instrument, maturity year range, start 2026  
Debt instrument, maturity year range, end 2028  
Notes, loans and leases payable, gross $ 590,000 615,000
Fleet loans (revolving credit) [Member] | Minimum [Member]    
Debt instruments, interest rate, stated percentage:    
Debt instrument, interest rate, stated percentage 2.36%  
Fleet loans (revolving credit) [Member] | Maximum [Member]    
Debt instruments, interest rate, stated percentage:    
Debt instrument, interest rate, stated percentage 6.50%  
Capital Leases (rental equipment) [Member]    
Debt instruments, interest rate, stated percentage:    
Debt Weighted Average Interest Rate 3.92%  
Debt instrument, maturities:    
Debt instrument, maturity year range, start 2023  
Debt instrument, maturity year range, end 2026  
Notes, loans and leases payable, gross $ 189,037 223,205
Capital Leases (rental equipment) [Member] | Minimum [Member]    
Debt instruments, interest rate, stated percentage:    
Debt instrument, interest rate, stated percentage 2.37%  
Capital Leases (rental equipment) [Member] | Maximum [Member]    
Debt instruments, interest rate, stated percentage:    
Debt instrument, interest rate, stated percentage 5.01%  
Finance capital lease [Member]    
Debt instruments, interest rate, stated percentage:    
Debt Weighted Average Interest Rate 4.12%  
Debt instrument, maturities:    
Debt instrument, maturity year range, start 2024  
Debt instrument, maturity year range, end 2031  
Notes, loans and leases payable, gross $ 1,425,854 1,255,763
Finance capital lease [Member] | Minimum [Member]    
Debt instruments, interest rate, stated percentage:    
Debt instrument, interest rate, stated percentage 1.60%  
Finance capital lease [Member] | Maximum [Member]    
Debt instruments, interest rate, stated percentage:    
Debt instrument, interest rate, stated percentage 6.13%  
Private placements [Member]    
Debt instruments, interest rate, stated percentage:    
Debt Weighted Average Interest Rate 2.65%  
Debt instrument, maturities:    
Debt instrument, maturity year range, start 2029  
Debt instrument, maturity year range, end 2035  
Notes, loans and leases payable, gross $ 1,200,000 1,200,000
Private placements [Member] | Minimum [Member]    
Debt instruments, interest rate, stated percentage:    
Debt instrument, interest rate, stated percentage 2.43%  
Private placements [Member] | Maximum [Member]    
Debt instruments, interest rate, stated percentage:    
Debt instrument, interest rate, stated percentage 2.88%  
Other Obligations [Member]    
Debt instruments, interest rate, stated percentage:    
Debt Weighted Average Interest Rate 6.06%  
Debt instrument, maturities:    
Debt instrument, maturity year range, start 2023  
Debt instrument, maturity year range, end 2049  
Notes, loans and leases payable, gross $ 74,250 $ 76,648
Other Obligations [Member] | Minimum [Member]    
Debt instruments, interest rate, stated percentage:    
Debt instrument, interest rate, stated percentage 1.50%  
Other Obligations [Member] | Maximum [Member]    
Debt instruments, interest rate, stated percentage:    
Debt instrument, interest rate, stated percentage 8.00%  
v3.23.2
Borrowings (Annual Maturities of Notes, Loans and Leases Payable) (Details)
$ in Thousands
Jun. 30, 2023
USD ($)
Long-term debt, by Maturity:  
2022 $ 635,909
2023 474,221
2024 762,745
2025 766,958
2026 833,278
Thereafter 2,850,671
Long term debt, amount $ 6,323,782
v3.23.2
Borrowings (Components of Interest Expense) (Details) - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Interest expense, borrowings:    
Interest expense $ 64,400 $ 50,405
Capitalized interest (4,063) (2,618)
Amortization of transaction costs 1,411 1,446
Interest expense resulting from derivatives (1,150) 566
Total interest expense $ 60,598 $ 49,799
v3.23.2
Borrowings (Interest Rates and Company Borrowings) (Details) - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Interest and debt expense:    
Weighted average interest rate during the quarter 6.26% 1.99%
Interest rate at quarter end 6.41% 2.29%
Maximum amount outstanding during the quarter $ 715,000 $ 1,095,000
Average amount outstanding during the quarter 660,330 1,095,000
Facility fees $ 265 $ 58
v3.23.2
Derivatives (Narratives) (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Mar. 31, 2022
Mar. 31, 2023
AOCI Attributable To Parent [Abstract]        
Interest expense $ 60,598 $ 49,799    
Derivative Fair Value Of Derivative Net [Abstract]        
Derivative hedges, net market value 9,254     $ 5,311
Decrease, fair value, cash flow hedges        
AOCI Attributable To Parent [Abstract]        
Interest expense 7,500   $ 4,300  
Reclassified AOCI        
AOCI Attributable To Parent [Abstract]        
Interest expense 362,400   465,700  
Interest rate contracts        
AOCI Attributable To Parent [Abstract]        
Interest expense 1,500   $ 600  
Investments, other        
Derivative Fair Value Of Derivative Net [Abstract]        
Derivative hedges, net market value 3,800     100
Notional amount (lease)       $ 4,800
Amounts reclassified from AOCI to interest expense $ 900 $ 400    
v3.23.2
Derivatives (Interest rate contracts designated as hedging instruments) (Details) - USD ($)
$ in Thousands
Jun. 30, 2023
Mar. 31, 2023
Interest Rate Fair Value Hedges [Abstract]    
Assets $ 9,254 $ 5,311
Liabilities 0 0
Notional amount (debt) $ 204,227 $ 206,347
v3.23.2
Derivatives (Effect of Interest Rate Contracts on the Statement of Operations) (Details) - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2023
Jun. 30, 2022
The effect of interest rate contracts on the statement of operations:    
(Gain) loss recognized in AOCI on interest rate contracts (effective portion) $ (3,943) $ (736)
Loss recognized in income on interest rate contracts $ (1,150) $ 566
v3.23.2
Derivatives (Equity Market Contracts Designated As Hedging Instruments (Details) - USD ($)
$ in Thousands
Jun. 30, 2023
Mar. 31, 2023
Notional Amount Of Derivatives [Abstract]    
Derivative Liability, Notional Amount $ 204,227 $ 206,347
Equity Swap [Member]    
Notional Amount Of Derivatives [Abstract]    
Notional amount (lease) 7,539 4,295
Derivative Liability, Notional Amount 0 0
Derivative Notional Amount $ 362,436 $ 465,701
v3.23.2
Accumulated other comprehensive income (loss) components of net of tax (Details) - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Accumulated Other Comprehensive Income (Loss) Components, Net of Tax [Roll Forward]    
Balance as of March 31, 2023 $ (285,623)  
Foreign currency translation 469 $ 197
Unrealized net gain on investments 20,344 (136,382)
Change in fair value of cash flow hedges 3,842 128
Amounts reclassified into earnings on hedging activities (868) 427
Other comprehensive income (loss) 23,787 (135,630)
Balance as of June 30, 2023 (261,836)  
Foreign Currency Translation [Member]    
Accumulated Other Comprehensive Income (Loss) Components, Net of Tax [Roll Forward]    
Balance as of March 31, 2023 (56,539)  
Foreign currency translation 469  
Unrealized net gain on investments 0  
Change in fair value of cash flow hedges 0  
Amounts reclassified into earnings on hedging activities 0  
Other comprehensive income (loss) 469  
Balance as of June 30, 2023 (56,070)  
Unrealized Net Gain on Investments [Member]    
Accumulated Other Comprehensive Income (Loss) Components, Net of Tax [Roll Forward]    
Balance as of March 31, 2023 (232,740)  
Foreign currency translation 0  
Unrealized net gain on investments 20,344  
Change in fair value of cash flow hedges 0  
Amounts reclassified into earnings on hedging activities 0  
Other comprehensive income (loss) 20,344  
Balance as of June 30, 2023 (212,396)  
Fair Market Value of Cash Flow Hedges [Member]    
Accumulated Other Comprehensive Income (Loss) Components, Net of Tax [Roll Forward]    
Balance as of March 31, 2023 4,007  
Foreign currency translation 0  
Unrealized net gain on investments 0  
Change in fair value of cash flow hedges 3,842  
Amounts reclassified into earnings on hedging activities (868)  
Other comprehensive income (loss) 2,974  
Balance as of June 30, 2023 6,981  
Postretirement Benefit Obligation Gain [Member]    
Accumulated Other Comprehensive Income (Loss) Components, Net of Tax [Roll Forward]    
Balance as of March 31, 2023 (351)  
Foreign currency translation 0  
Unrealized net gain on investments 0  
Change in fair value of cash flow hedges 0  
Amounts reclassified into earnings on hedging activities 0  
Other comprehensive income (loss) 0  
Balance as of June 30, 2023 (351)  
Accumulated Other Comprehensive Income (Loss) [Member]    
Accumulated Other Comprehensive Income (Loss) Components, Net of Tax [Roll Forward]    
Balance as of March 31, 2023 (285,623)  
Foreign currency translation 469 197
Unrealized net gain on investments 20,344 (136,382)
Change in fair value of cash flow hedges 3,842 128
Amounts reclassified into earnings on hedging activities (868) $ 427
Other comprehensive income (loss) 23,787  
Balance as of June 30, 2023 $ (261,836)  
v3.23.2
Stockholders' Equity (Narratives) (Details)
 3 Months Ended
Jun. 30, 2023
$ / shares
Common Stock [Member]  
Dividends [Abstract]  
Dividends payable, date declared Apr. 06, 2022
Dividend paid, amount per share $ 0.50
Dividends payable, date of record Apr. 18, 2022
Dividends payable, date to be paid Apr. 29, 2022
Nonvoting Common Stock [Member]  
Dividends [Abstract]  
Dividends payable, date declared Jun. 07, 2023
Dividend paid, amount per share $ 0.04
Dividends payable, date of record Jun. 20, 2023
Dividends payable, date to be paid Jun. 30, 2023
v3.23.2
Leases (Narratives) (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Jun. 30, 2023
Mar. 31, 2022
Leases [Abstract]    
Right Of Use Asset Obtained In Exchange For Operating Lease Liability $ 189.0 $ 223.2
Operating Cash Flows For Financing Leases 8.9 7.9
Cash paid for finance leases 34.2 35.0
Cash paid for operating leases $ 58.8 $ 58.4
v3.23.2
Leases (Components of our right-of-use assets) (Details) - USD ($)
$ in Thousands
Jun. 30, 2023
Mar. 31, 2023
Finance Lease [Abstract]    
Buildings and Improvements $ 133,248 $ 128,221
Furniture and equipment 7,109 9,687
Rental trailers and other rental equipment 128,865 152,294
Rental trucks 879,054 949,838
Right-of-use assets, gross 1,148,276 1,240,040
Less: Accumulated depreciation (668,302) (706,358)
Right of use assets, net 479,974 533,682
Finance Lease [Member]    
Finance Lease [Abstract]    
Buildings and Improvements 0 0
Furniture and equipment 7,109 9,687
Rental trailers and other rental equipment 128,865 152,294
Rental trucks 879,054 949,838
Right-of-use assets, gross 1,015,028 1,111,819
Less: Accumulated depreciation (594,532) (637,054)
Right of use assets, net 420,496 474,765
Operating Lease [Member]    
Finance Lease [Abstract]    
Buildings and Improvements 133,248 128,221
Furniture and equipment 0 0
Rental trailers and other rental equipment 0 0
Rental trucks 0 0
Right-of-use assets, gross 133,248 128,221
Less: Accumulated depreciation (73,770) (69,304)
Right of use assets, net $ 59,478 $ 58,917
v3.23.2
Leases (Finance Leases Weighted Average Remaining Lease Term and Discount Rate) (Details)
 3 Months Ended 12 Months Ended
Jun. 30, 2023
Mar. 31, 2022
Mar. 31, 2023
Finance Leases Weighted Average Remaining Lease Term And Discount Rate[Abstract]      
Remaining Lease Term Operating Lease Weighted Average 2 2  
Finance Lease Weighted Average Discount Rate Percent 3.90%   3.80%
v3.23.2
Leases (Operating Leases Weighted Average Remaining Lease Term and Discount Rate) (Details)
 3 Months Ended 12 Months Ended
Jun. 30, 2023
Mar. 31, 2022
Mar. 31, 2023
Operating Leases Remaining Lease Term And Weighted Average Discount Rate [Abstract]      
Remaining Lease Term Finance Lease Weighted Average 20.3 19.2  
Operating Lease Weighted Average Discount Rate Percent 4.70%   4.70%
v3.23.2
Leases (Components Of Lease Expense) (Details) - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Lease cost:    
Operating lease costs $ 8,102 $ 7,920
Finance lease cost:    
Amortization of right of use assets 16,754 22,396
Interest on lease liabilities 2,146 3,218
Total finance lease cost $ 18,900 $ 25,614
v3.23.2
Leases (Maturities of lease liabilities) (Details) - USD ($)
$ in Thousands
Jun. 30, 2023
Mar. 31, 2023
Finance Lease Liabilities Payments Due [Abstract]    
2023 $ 75,174  
2024 77,194  
2025 46,457  
2026 0  
2027 0  
Thereafter 0  
Total lease payments 198,825  
Less: imputed interest (9,788)  
Present value of finance lease liabilities 189,037  
Operating Lease Liabilities Payments Due [Abstract]    
2023 18,686  
2024 12,244  
2025 5,534  
2026 4,087  
2027 3,483  
Thereafter 62,497  
Total lease payments 106,531  
Less: inputed interest (47,723)  
Present value of operating lease liabilities $ 58,808 $ 58,373
v3.23.2
Related Party Transactions (Narratives) (Details) - USD ($)
$ in Millions
 3 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Sac Holdings [Member]    
Property Management Fee [Abstract]    
Property Management Fee Revenue $ 8.2  
Sac Holdings [Member] | Minimum [Member]    
Property Management Fee [Abstract]    
Management fee rate 4.00%  
Sac Holdings [Member] | Maximum [Member]    
Property Management Fee [Abstract]    
Management fee rate 10.00%  
Sac Holdings, Mercury, Four Sac, Five Sac, Galaxy and Private Mini [Member]    
Related party costs and expenses:    
Expenses, related parties $ 6.6  
Cash flow, related party   $ 6.9
Commission expenses, generated from dealer agreement with related parties 22.7 24.9
Payments to aquire assets, other 103.5 117.9
Sac Holdings, Four Sac, Five Sac, Galaxy, and Private Mini [Member]    
Related party costs and expenses:    
Expenses, related parties $ 0.9 $ 0.6
v3.23.2
Related Party Transactions (Related Party Revenue) (Details) - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Related party transactions:    
Management fee revenue $ 9,177 $ 9,139
Blackwater [Member]    
Related party transactions:    
Management fee revenue 7,696 7,729
Mercury [Member]    
Related party transactions:    
Management fee revenue $ 1,481 $ 1,410
v3.23.2
Related Party Transactions (Related Party Costs and Expenses) (Details) - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Related party cost and expense:    
Related party expenses, total $ 23,656 $ 25,486
Blackwater [Member]    
Related party cost and expense:    
U-Haul lease expenses 604 604
U-Haul commission expenses $ 22,703 $ 24,882
v3.23.2
Related Party Transactions (Related Party Assets) (Details) - USD ($)
$ in Thousands
Jun. 30, 2023
Mar. 31, 2023
Related party assets:    
Related party assets $ 43,102 $ 48,308
Blackwater [Member]    
Related party assets:    
Amounts due to related parties 41,146 42,141
Mercury [Member]    
Related party assets:    
Amounts due to related parties 6,446 8,402
Insurance Group [Member]    
Related party assets:    
Amounts due to related parties $ (4,490) $ (2,235)
v3.23.2
Consolidating financial information by industry segment (Balance Sheets) (Details) - USD ($)
$ in Thousands
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2022
ASSETS:      
Cash and cash equivalents $ 2,377,124 $ 2,060,524  
Reinsurance recoverables and trade receivables, net 206,663 189,498  
Inventories, net 164,884 151,474  
Prepaid expenses 232,039 241,711  
Investments, fixed maturities and marketable equities 2,469,512 2,770,394  
Investments, other 620,140 575,540  
Deferred policy acquisition costs, net 123,596 128,463  
Other assets 60,821 51,052  
Right of use Assets - Financing 420,496 474,765  
Right of use Assets - Operating 59,496 58,917  
Related party assets 43,102 48,308  
Subtotal assets 6,777,873 6,750,646  
Investments in subsidiaries 0 0  
Property, plant and equipment, at cost:      
Land 1,555,326 1,537,206  
Buildings and improvements 7,364,517 7,088,810  
Furniture and equipment 942,036 928,241  
Property, plant and equipment (gross) 16,322,927 15,660,293  
Less: Accumulated depreciation (4,486,766) (4,310,205)  
Total property, plant and equipment 11,836,161 11,350,088  
Total assets 18,614,034 18,100,734 $ 17,793,811
Liabilities:      
Accounts payable and accrued expenses 778,605 761,039  
Notes, loans and leases payable 6,287,231 6,108,042  
Financing lease liability 189,037    
Operating lease liability 58,808 58,373  
Policy benefits and losses, claims and loss expenses payable 878,436 880,202  
Liabilities from investment contracts 2,384,330 2,398,884  
Other policyholders' funds and liabilities 12,218 8,232  
Deferred income 64,790 52,282  
Deferred income taxes, net 1,371,859 1,329,489  
Related party liabilities 0 0  
Total liabilities 11,836,277 11,596,543  
Stockholders' equity:      
Additional paid-in capital 453,643 453,643  
Accumulated other comprehensive loss (261,836) (285,623)  
Retained earnings 7,252,927 7,003,148  
Total stockholders' equity 6,777,757 6,504,191  
Total liabilities and stockholders' equity 18,614,034 18,100,734  
Rental Trailers and Other Rental Equipment [Member]      
Property, plant and equipment, at cost:      
Property subject to or available for operating lease, gross 866,916 827,696  
Rental Trucks [Member]      
Property, plant and equipment, at cost:      
Property subject to or available for operating lease, gross 5,594,132 5,278,340  
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  
Serial 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 2,302,380 2,034,242  
Reinsurance recoverables and trade receivables, net 125,222 107,823  
Inventories, net 164,884 151,474  
Prepaid expenses 232,039 241,711  
Investments, fixed maturities and marketable equities 0 227,737  
Investments, other 23,330 23,314  
Deferred policy acquisition costs, net 0 0  
Other assets 54,916 46,438  
Right of use Assets - Financing 420,496 474,765  
Right of use Assets - Operating 58,622 57,978  
Related party assets 65,625 69,144  
Subtotal assets 3,447,514 3,434,626  
Investments in subsidiaries 459,095 426,779  
Property, plant and equipment, at cost:      
Land 1,555,326 1,537,206  
Buildings and improvements 7,364,517 7,088,810  
Furniture and equipment 942,036 928,241  
Property, plant and equipment (gross) 16,322,927 15,660,293  
Less: Accumulated depreciation (4,486,766) (4,310,205)  
Total property, plant and equipment 11,836,161 11,350,088  
Total assets 15,742,770 15,211,493  
Liabilities:      
Accounts payable and accrued expenses 768,784 729,679  
Notes, loans and leases payable 6,287,231 6,108,042  
Operating lease liability 57,937 57,418  
Policy benefits and losses, claims and loss expenses payable 328,009 335,227  
Liabilities from investment contracts 0 0  
Other policyholders' funds and liabilities 0 0  
Deferred income 64,790 52,282  
Deferred income taxes, net 1,437,773 1,405,391  
Related party liabilities 26,630 25,082  
Total liabilities 8,971,154 8,713,121  
Stockholders' equity:      
Additional paid-in capital 453,853 453,853  
Accumulated other comprehensive loss (267,977) (291,442)  
Retained earnings 7,252,717 7,002,938  
Total stockholders' equity 6,771,616 6,498,372  
Total liabilities and stockholders' equity 15,742,770 15,211,493  
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 866,916 827,696  
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 5,594,132 5,278,340  
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] | Serial 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 14,038 11,276  
Reinsurance recoverables and trade receivables, net 49,051 48,344  
Inventories, net 0 0  
Prepaid expenses 0 0  
Investments, fixed maturities and marketable equities 274,003 271,156  
Investments, other 129,392 125,130  
Deferred policy acquisition costs, net 0 0  
Other assets 1,063 730  
Right of use Assets - Financing 0 0  
Right of use Assets - Operating 850 914  
Related party assets 2,860 2,347  
Subtotal assets 471,257 459,897  
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 471,257 459,897  
Liabilities:      
Accounts payable and accrued expenses 3,303 4,470  
Notes, loans and leases payable 0 0  
Operating lease liability 864 928  
Policy benefits and losses, claims and loss expenses payable 148,960 153,007  
Liabilities from investment contracts 0 0  
Other policyholders' funds and liabilities 2,435 2,702  
Deferred income 0 0  
Deferred income taxes, net 4,776 1,713  
Related party liabilities 3,199 2,544  
Total liabilities 163,537 165,364  
Stockholders' equity:      
Additional paid-in capital 91,120 91,120  
Accumulated other comprehensive loss (11,043) (14,720)  
Retained earnings 224,342 214,832  
Total stockholders' equity 307,720 294,533  
Total liabilities and stockholders' equity 471,257 459,897  
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] | Serial 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 60,706 15,006  
Reinsurance recoverables and trade receivables, net 32,390 33,331  
Inventories, net 0 0  
Prepaid expenses 0 0  
Investments, fixed maturities and marketable equities 2,195,509 2,271,501  
Investments, other 467,418 427,096  
Deferred policy acquisition costs, net 123,596 128,463  
Other assets 4,842 3,884  
Right of use Assets - Financing 0 0  
Right of use Assets - Operating 24 25  
Related party assets 11,945 12,268  
Subtotal assets 2,896,430 2,891,574  
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 2,896,430 2,891,574  
Liabilities:      
Accounts payable and accrued expenses 6,518 26,890  
Notes, loans and leases payable 0 0  
Operating lease liability 7 27  
Policy benefits and losses, claims and loss expenses payable 401,467 391,968  
Liabilities from investment contracts 2,384,330 2,398,884  
Other policyholders' funds and liabilities 9,783 5,530  
Deferred income 0 0  
Deferred income taxes, net (70,690) (77,615)  
Related party liabilities 13,640 13,644  
Total liabilities 2,745,055 2,759,328  
Stockholders' equity:      
Additional paid-in capital 26,271 26,271  
Accumulated other comprehensive loss (207,495) (225,904)  
Retained earnings 330,099 329,379  
Total stockholders' equity 151,375 132,246  
Total liabilities and stockholders' equity 2,896,430 2,891,574  
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] | Serial 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  
Consolidation, Eliminations [Member]      
ASSETS:      
Cash and cash equivalents 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 0 0  
Right of use Assets - Operating 0 0  
Related party assets (37,328) (35,451)  
Subtotal assets (37,328) (35,451)  
Investments in subsidiaries (459,095) (426,779)  
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 (496,423) (462,230)  
Liabilities:      
Accounts payable and accrued expenses 0 0  
Notes, loans and leases payable 0 0  
Operating lease liability 0 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, net 0 0  
Related party liabilities (43,469) (41,270)  
Total liabilities (43,469) (41,270)  
Stockholders' equity:      
Additional paid-in capital (117,601) (117,601)  
Accumulated other comprehensive loss 224,679 246,443  
Retained earnings (554,231) (544,001)  
Total stockholders' equity (452,954) (420,960)  
Total liabilities and stockholders' equity (496,423) (462,230)  
Consolidation, 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  
Consolidation, Eliminations [Member] | Rental Trucks [Member]      
Property, plant and equipment, at cost:      
Property subject to or available for operating lease, gross 0 0  
Consolidation, Eliminations [Member] | Series A Preferred Stock [Member]      
Stockholders' equity:      
Preferred stock, value, issued 0 0  
Consolidation, Eliminations [Member] | Series B Preferred Stock [Member]      
Stockholders' equity:      
Preferred stock, value, issued 0 0  
Consolidation, Eliminations [Member] | Serial Common Stock [Member]      
Stockholders' equity:      
Common stock, value, issued 0 0  
Consolidation, Eliminations [Member] | Amerco Common Stock [Member]      
Stockholders' equity:      
Common stock, value, issued (5,801) (5,801)  
Consolidation, Eliminations [Member] | Common Stock in Treasury [Member]      
Stockholders' equity:      
Treasury stock, value 0 0  
Consolidation, Eliminations [Member] | Preferred Stock in Treasury [Member]      
Stockholders' equity:      
Treasury stock, value $ 0 $ 0  
v3.23.2
Consolidating financial information by industry segment (Statements of Operations) (Details) - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Revenues:    
Self-moving equipment rentals $ 999,206 $ 1,090,775
Self-storage revenues 198,961 173,177
Self moving and self-storage products and service sales 100,872 109,351
Property management fees 9,177 9,139
Life insurance premiums 23,131 25,781
Property and casualty insurance premiums 20,322 19,972
Investment income interest and dividend 64,592 33,573
Other revenue 124,047 136,072
Total revenues 1,540,308 1,597,840
Costs and expenses:    
Operating expenses 763,241 733,167
Commission expenses 106,927 118,493
Cost of sales 70,675 79,671
Benefits and losses 45,344 39,757
Amortization of deferred policy acquisition costs 8,045 7,672
Lease expense 7,583 7,475
Depreciation, net of (gains) losses on disposals 137,814 113,796
Net (gains) losses on disposal of real estate 1,021 2,307
Total costs and expenses 1,140,650 1,102,338
Earnings (loss) from operations before equity in earnings of subsidiaries 399,658 495,502
Equity in earnings of subsidiaries 0 0
Earnings from operations 399,658 495,502
Other components of net periodic benefit costs (365) (304)
Interest expense (60,598) (49,799)
Pretax earnings 338,695 445,399
Income tax expense (81,857) (107,054)
Earnings available to common stockholders 256,838 338,345
Operating Segments [Member] | Moving and Storage Consolidations [Member]    
Revenues:    
Self-moving equipment rentals 1,000,079 1,091,710
Self-storage revenues 198,961 173,177
Self moving and self-storage products and service sales 100,872 109,351
Property management fees 9,177 9,139
Life insurance premiums 0 0
Property and casualty insurance premiums 0 0
Investment income interest and dividend 27,295 4,940
Other revenue 123,129 135,281
Total revenues 1,459,513 1,523,598
Costs and expenses:    
Operating expenses 748,283 719,794
Commission expenses 106,927 118,493
Cost of sales 70,675 79,671
Benefits and losses 0 0
Amortization of deferred policy acquisition costs 0 0
Lease expense 8,102 7,920
Depreciation, net of (gains) losses on disposals 137,814 113,796
Net (gains) losses on disposal of real estate 1,021 2,307
Total costs and expenses 1,072,822 1,041,981
Earnings (loss) from operations before equity in earnings of subsidiaries 386,691 481,617
Equity in earnings of subsidiaries 10,230 12,009
Earnings from operations 396,921 493,626
Other components of net periodic benefit costs (365) (304)
Interest expense (60,849) (50,061)
Pretax earnings 335,707 443,261
Income tax expense (78,869) (104,916)
Earnings available to common stockholders 256,838 338,345
Operating Segments [Member] | Property and Casualty Insurance [Member]    
Revenues:    
Self-moving equipment rentals 0 0
Self-storage revenues 0 0
Self moving and self-storage products and service sales 0 0
Property management fees 0 0
Life insurance premiums 0 0
Property and casualty insurance premiums 21,047 20,830
Investment income interest and dividend 6,792 2,252
Other revenue 0 0
Total revenues 27,839 23,082
Costs and expenses:    
Operating expenses 11,307 10,194
Commission expenses 0 0
Cost of sales 0 0
Benefits and losses 4,458 4,379
Amortization of deferred policy acquisition costs 0 0
Lease expense 92 158
Depreciation, net of (gains) losses on disposals 0 0
Net (gains) losses on disposal of real estate 0 0
Total costs and expenses 15,857 14,731
Earnings (loss) from operations before equity in earnings of subsidiaries 11,982 8,351
Equity in earnings of subsidiaries 0 0
Earnings from operations 11,982 8,351
Other components of net periodic benefit costs 0 0
Interest expense 0 0
Pretax earnings 11,982 8,351
Income tax expense (2,472) (1,755)
Earnings available to common stockholders 9,510 6,596
Operating Segments [Member] | Life Insurance [Member]    
Revenues:    
Self-moving equipment rentals 0 0
Self-storage revenues 0 0
Self moving and self-storage products and service sales 0 0
Property management fees 0 0
Life insurance premiums 23,131 25,781
Property and casualty insurance premiums 0 0
Investment income interest and dividend 31,511 27,388
Other revenue 1,039 934
Total revenues 55,681 54,103
Costs and expenses:    
Operating expenses 5,366 5,109
Commission expenses 0 0
Cost of sales 0 0
Benefits and losses 40,886 35,378
Amortization of deferred policy acquisition costs 8,045 7,672
Lease expense 28 28
Depreciation, net of (gains) losses on disposals 0 0
Net (gains) losses on disposal of real estate 0 0
Total costs and expenses 54,325 48,187
Earnings (loss) from operations before equity in earnings of subsidiaries 1,356 5,916
Equity in earnings of subsidiaries 0 0
Earnings from operations 1,356 5,916
Other components of net periodic benefit costs 0 0
Interest expense (120) (120)
Pretax earnings 1,236 5,796
Income tax expense (516) (383)
Earnings available to common stockholders 720 5,413
Consolidation, Eliminations [Member]    
Revenues:    
Self-moving equipment rentals (873) (935)
Self-storage revenues 0 0
Self moving and self-storage products and service sales 0 0
Property management fees 0 0
Life insurance premiums 0 0
Property and casualty insurance premiums (725) (858)
Investment income interest and dividend (1,006) (1,007)
Other revenue (121) (143)
Total revenues (2,725) (2,943)
Costs and expenses:    
Operating expenses (1,715) (1,930)
Commission expenses 0 0
Cost of sales 0 0
Benefits and losses 0 0
Amortization of deferred policy acquisition costs 0 0
Lease expense (639) (631)
Depreciation, net of (gains) losses on disposals 0 0
Net (gains) losses on disposal of real estate 0 0
Total costs and expenses (2,354) (2,561)
Earnings (loss) from operations before equity in earnings of subsidiaries (371) (382)
Equity in earnings of subsidiaries (10,230) (12,009)
Earnings from operations (10,601) (12,391)
Other components of net periodic benefit costs 0 0
Interest expense 371 382
Pretax earnings (10,230) (12,009)
Income tax expense 0 0
Earnings available to common stockholders $ (10,230) $ (12,009)
v3.23.2
Consolidating financial information by industry segment (Cash Flow Statements) (Details) - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flow from operating activities:    
Net earnings $ 256,838 $ 338,345
Earnings from consolidated entities 0 0
Adjustments to reconcile net earnings to cash provided by operations:    
Depreciation 193,475 178,144
Amortization of deferred policy acquisition costs 8,045 7,672
Amortization of premiums and accretion of discounts related to investments, inc 4,394 4,929
Amortization of debt issuance costs 1,456 1,473
Interest credited to policyholders 17,538 15,157
Change in allowance for losses on trade receivables 592 (6,151)
Change in allowance for inventory reserves (327) 4,646
Net gain on sale of real and personal property (55,661) (64,348)
Net losses on disposal of real estate 1,021 2,307
Net (gain) loss on sale of investments (1,914) 268
Net (gain) losses equity investments (2,429) 1,551
Deferred income tax 34,108 63,493
Net change in other operating assets and liabilities:    
Reinsurance recoverables and trade receivables (17,435) 15,894
Inventories (13,068) (10,347)
Prepaid expenses 9,870 4,935
Capitalization of deferred policy acquisition costs (3,177) (7,398)
Other assets (9,957) 1,935
Related party assets 3,132 484
Accounts payable and accrued expenses 33,112 74,676
Policy benefits and losses, claims and loss expenses payable (12,098) 6,043
Other policyholders' funds and liabilities 3,986 1,187
Deferred income 11,999 14,448
Related party liabilities 2,197 2,028
Net cash provided by operating activities 465,697 651,371
Cash flow from investing activities:    
Escrow deposits (361) 4,789
Purchase of:    
Property, plant and equipment (773,577) (646,137)
Short term investments (9,957) (22,017)
Fixed maturity investments (3,251) (36,488)
Equity Securities (242) (1,366)
Real estate (415) 0
Mortgage loans (52,450) (42,561)
Proceeds from sale of:    
Property, plant and equipment 193,455 159,180
Short term investments 11,745 18,073
Fixed maturity investments 336,859 55,808
Preferred stock 236 362
Mortgage loans 8,377 32,345
Net cash used by investing activities (288,668) (478,012)
Cash flow from financing activities:    
Borrowings from credit facilities 445,493 393,264
Principal repayments on credit facilities (232,824) (145,369)
Payment of debt issuance costs (2,688) (1,069)
Capital lease payments (34,168) (34,982)
Common stock dividends paid 0 (9,804)
Investment contract deposits 51,239 85,767
Investment contract withdrawals (83,331) (62,911)
Net cash provided by (used in) financing activities 136,741 224,896
Effects on exchange rate on cash 2,830 (4,121)
Increase (decrease) cash and cash equivalents 316,600 394,134
Cash and cash equivalents at beginning of period 2,060,524 2,704,137
Cash and cash equivalents at end of period 2,377,124 3,098,271
Operating Segments [Member] | Moving and Storage Consolidations [Member]    
Cash flow from operating activities:    
Net earnings 256,838 338,345
Earnings from consolidated entities (10,230) (12,009)
Adjustments to reconcile net earnings to cash provided by operations:    
Depreciation 193,475 178,144
Amortization of deferred policy acquisition costs 0 0
Amortization of premiums and accretion of discounts related to investments, inc 0 0
Amortization of debt issuance costs 1,456 1,473
Interest credited to policyholders 0 0
Change in allowance for losses on trade receivables 631 (6,075)
Change in allowance for inventory reserves (327) 4,646
Net gain on sale of real and personal property (55,661) (64,348)
Net losses on disposal of real estate 1,021 2,307
Net (gain) loss on sale of investments 0 0
Net (gain) losses equity investments 0 0
Deferred income tax 32,087 61,948
Net change in other operating assets and liabilities:    
Reinsurance recoverables and trade receivables (17,964) 18,458
Inventories (13,068) (10,347)
Prepaid expenses 9,870 4,935
Capitalization of deferred policy acquisition costs 0 0
Other assets (8,769) 2,177
Related party assets 3,645 747
Accounts payable and accrued expenses 52,573 78,549
Policy benefits and losses, claims and loss expenses payable (7,590) 8,875
Other policyholders' funds and liabilities 0 0
Deferred income 12,441 14,501
Related party liabilities 1,547 1,251
Net cash provided by operating activities 451,975 623,577
Cash flow from investing activities:    
Escrow deposits (361) 4,789
Purchase of:    
Property, plant and equipment (773,577) (646,137)
Short term investments 0 0
Fixed maturity investments 0 0
Equity Securities 0 0
Real estate (16)  
Mortgage loans 0 0
Proceeds from sale of:    
Property, plant and equipment 193,455 159,180
Short term investments 0 0
Fixed maturity investments 224,999 0
Preferred stock 0  
Mortgage loans 0 0
Net cash used by investing activities (355,500) (482,168)
Cash flow from financing activities:    
Borrowings from credit facilities 445,493 393,264
Principal repayments on credit facilities (232,824) (145,369)
Payment of debt issuance costs (2,688) (1,069)
Capital lease payments (34,168) (34,982)
Investment contract deposits 0 0
Investment contract withdrawals 0 0
Net cash provided by (used in) financing activities 168,833 202,040
Effects on exchange rate on cash 2,830 (4,121)
Increase (decrease) cash and cash equivalents 268,138 339,328
Cash and cash equivalents at beginning of period 2,034,242 2,643,213
Cash and cash equivalents at end of period 2,302,380 2,982,541
Operating Segments [Member] | Property and Casualty Insurance [Member]    
Cash flow from operating activities:    
Net earnings 9,510 6,596
Earnings from consolidated entities 0 0
Adjustments to reconcile net earnings to cash provided by operations:    
Depreciation 0 0
Amortization of deferred policy acquisition costs 0 0
Amortization of premiums and accretion of discounts related to investments, inc 383 421
Amortization of debt issuance costs 0 0
Interest credited to policyholders 0 0
Change in allowance for losses on trade receivables (39) (76)
Change in allowance for inventory reserves 0 0
Net gain on sale of real and personal property 0 0
Net losses on disposal of real estate 0 0
Net (gain) loss on sale of investments (34) (31)
Net (gain) losses equity investments (2,429) 1,551
Deferred income tax 2,085 127
Net change in other operating assets and liabilities:    
Reinsurance recoverables and trade receivables (411) (2,107)
Inventories 0 0
Prepaid expenses 0 0
Capitalization of deferred policy acquisition costs 0 0
Other assets (231) (40)
Related party assets (513) (263)
Accounts payable and accrued expenses (1,166) (549)
Policy benefits and losses, claims and loss expenses payable (4,047) (1,237)
Other policyholders' funds and liabilities (267) (159)
Deferred income 0 0
Related party liabilities 655 517
Net cash provided by operating activities 3,496 4,750
Cash flow from investing activities:    
Escrow deposits 0 0
Purchase of:    
Property, plant and equipment 0 0
Short term investments (9,216) (21,966)
Fixed maturity investments (495) (9,839)
Equity Securities (242) (1,366)
Real estate 0  
Mortgage loans (7,300) (6,975)
Proceeds from sale of:    
Property, plant and equipment 0 0
Short term investments 11,676 18,073
Fixed maturity investments 3,490 6,852
Preferred stock 236  
Mortgage loans 204 8,374
Net cash used by investing activities (734) (6,485)
Cash flow from financing activities:    
Borrowings from credit facilities 0 0
Principal repayments on credit facilities 0 0
Payment of debt issuance costs 0 0
Capital lease payments 0 0
Investment contract deposits 0 0
Investment contract withdrawals 0 0
Net cash provided by (used in) financing activities 0 0
Effects on exchange rate on cash 0 0
Increase (decrease) cash and cash equivalents 2,762 (1,735)
Cash and cash equivalents at beginning of period 11,276 10,800
Cash and cash equivalents at end of period 14,038 9,065
Operating Segments [Member] | Life Insurance [Member]    
Cash flow from operating activities:    
Net earnings 720 5,413
Earnings from consolidated entities 0 0
Adjustments to reconcile net earnings to cash provided by operations:    
Depreciation 0 0
Amortization of deferred policy acquisition costs 8,045 7,672
Amortization of premiums and accretion of discounts related to investments, inc 4,011 4,508
Amortization of debt issuance costs 0 0
Interest credited to policyholders 17,538 15,157
Change in allowance for losses on trade receivables 0 0
Change in allowance for inventory reserves 0 0
Net gain on sale of real and personal property 0 0
Net losses on disposal of real estate 0 0
Net (gain) loss on sale of investments (1,880) 299
Net (gain) losses equity investments 0 0
Deferred income tax (64) 1,418
Net change in other operating assets and liabilities:    
Reinsurance recoverables and trade receivables 940 (457)
Inventories 0 0
Prepaid expenses 0 0
Capitalization of deferred policy acquisition costs (3,177) (7,398)
Other assets (957) (202)
Related party assets 0 0
Accounts payable and accrued expenses (18,295) (3,324)
Policy benefits and losses, claims and loss expenses payable (461) (1,595)
Other policyholders' funds and liabilities 4,253 1,346
Deferred income (442) (53)
Related party liabilities (5) 260
Net cash provided by operating activities 10,226 23,044
Cash flow from investing activities:    
Escrow deposits 0 0
Purchase of:    
Property, plant and equipment 0 0
Short term investments (741) (51)
Fixed maturity investments (2,756) (26,649)
Equity Securities 0 0
Real estate (399)  
Mortgage loans (45,150) (35,586)
Proceeds from sale of:    
Property, plant and equipment 0 0
Short term investments 69 0
Fixed maturity investments 108,370 48,956
Preferred stock 0  
Mortgage loans 8,173 23,971
Net cash used by investing activities 67,566 10,641
Cash flow from financing activities:    
Borrowings from credit facilities 0 0
Principal repayments on credit facilities 0 0
Payment of debt issuance costs 0 0
Capital lease payments 0 0
Investment contract deposits 51,239 85,767
Investment contract withdrawals (83,331) (62,911)
Net cash provided by (used in) financing activities (32,092) 22,856
Effects on exchange rate on cash 0 0
Increase (decrease) cash and cash equivalents 45,700 56,541
Cash and cash equivalents at beginning of period 15,006 50,124
Cash and cash equivalents at end of period 60,706 106,665
Consolidation, Eliminations [Member]    
Cash flow from operating activities:    
Net earnings (10,230) (12,009)
Earnings from consolidated entities 10,230 12,009
Adjustments to reconcile net earnings to cash provided by operations:    
Depreciation 0 0
Amortization of deferred policy acquisition costs 0 0
Amortization of premiums and accretion of discounts related to investments, inc 0 0
Amortization of debt issuance costs 0 0
Interest credited to policyholders 0 0
Change in allowance for losses on trade receivables 0 0
Change in allowance for inventory reserves 0 0
Net gain on sale of real and personal property 0 0
Net losses on disposal of real estate 0 0
Net (gain) loss on sale of investments 0 0
Net (gain) losses equity investments 0 0
Deferred income tax 0 0
Net change in other operating assets and liabilities:    
Reinsurance recoverables and trade receivables 0 0
Inventories 0 0
Prepaid expenses 0 0
Capitalization of deferred policy acquisition costs 0 0
Other assets 0 0
Related party assets 0 0
Accounts payable and accrued expenses 0 0
Policy benefits and losses, claims and loss expenses payable 0 0
Other policyholders' funds and liabilities 0 0
Deferred income 0 0
Related party liabilities 0 0
Net cash provided by operating activities 0 0
Cash flow from investing activities:    
Escrow deposits 0 0
Purchase of:    
Property, plant and equipment 0 0
Short term investments 0 0
Fixed maturity investments 0 0
Equity Securities 0 0
Real estate 0  
Mortgage loans 0 0
Proceeds from sale of:    
Property, plant and equipment 0 0
Short term investments 0 0
Fixed maturity investments 0 0
Preferred stock 0  
Mortgage loans 0 0
Net cash used by investing activities 0 0
Cash flow from financing activities:    
Borrowings from credit facilities 0 0
Principal repayments on credit facilities 0 0
Payment of debt issuance costs 0 0
Capital lease payments 0 0
Investment contract deposits 0 0
Investment contract withdrawals 0 0
Net cash provided by (used in) financing activities 0 0
Effects on exchange rate on cash 0 0
Increase (decrease) cash and cash equivalents 0 0
Cash and cash equivalents at beginning of period 0 0
Cash and cash equivalents at end of period $ 0 $ 0
v3.23.2
Industry Segment and Geographic Area Data (Details) - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Mar. 31, 2023
Quarter ended:      
Total revenues $ 1,540,308 $ 1,597,840  
Depreciation and amortization, net of (gains) losses on disposals 146,880 123,775  
Interest expense 60,598 49,799  
Pretax earnings (loss) 338,695 445,399  
Income tax expense 81,857 107,054  
Identifiable assets 18,614,034 17,793,811 $ 18,100,734
United States [Member]      
Quarter ended:      
Total revenues 1,461,284 1,510,386  
Depreciation and amortization, net of (gains) losses on disposals 148,313 120,986  
Interest expense 59,946 48,948  
Pretax earnings (loss) 327,072 431,881  
Income tax expense 78,595 103,613  
Identifiable assets 17,892,739 17,202,853  
Canada [Member]      
Quarter ended:      
Total revenues 79,024 87,454  
Depreciation and amortization, net of (gains) losses on disposals (1,433) 2,789  
Interest expense 652 851  
Pretax earnings (loss) 11,623 13,518  
Income tax expense 3,262 3,441  
Identifiable assets $ 721,295 $ 590,958  
v3.23.2
Employee Benefit Plans (Components of net periodic benefit costs post retirement benefits) (Details) - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Postemployment Benefits [Abstract]    
Service cost for benefits earned during the period $ 297 $ 332
Other components of net periodic benefit costs:    
Interest cost on accumulated postretirement benefit 367 287
Other components (2) 17
Total other components of net periodic benefit costs 365 304
Net periodic postretirement benefit cost $ 662 $ 636
v3.23.2
Fair Value Measurements (Carrying and Estimated Fair Values within Fair Value Hierarchy) (Details) - USD ($)
$ in Thousands
Jun. 30, 2023
Mar. 31, 2023
Assets    
Reinsurance recoverables and trade receivables, net $ 206,663 $ 189,498
Mortgage loans, net 494,664 444,957
Other investments 109,833 109,009
Total 811,160 743,464
Liabilities    
Notes, loans and leases payable, gross 5,743,138 5,710,735
Total 5,743,138 5,710,735
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 5,743,138 5,710,735
Total 5,743,138 5,710,735
Level 3 [Member]    
Assets    
Reinsurance recoverables and trade receivables, net 206,663 189,498
Mortgage loans, net 494,664 444,957
Other investments 109,833 109,009
Total 811,160 743,464
Liabilities    
Notes, loans and leases payable, gross 0 0
Total 0 0
Carrying Value [Member]    
Assets    
Reinsurance recoverables and trade receivables, net 206,663 189,498
Mortgage loans, net 510,307 466,531
Other investments 109,833 109,009
Total 826,803 765,038
Liabilities    
Notes, loans and leases payable, gross 6,323,782 6,143,350
Total $ 6,323,782 $ 6,143,350
v3.23.2
Fair Value Measurements (Financial instruments level within the fair value hierarchy) (Details) - USD ($)
$ in Thousands
Jun. 30, 2023
Mar. 31, 2023
Assets:    
Short-term investments $ 2,055,145 $ 1,809,441
Fixed maturities - available for sale 2,407,226 2,709,037
Preferred stock 20,556 21,982
Common stock 41,730 39,375
Derivatives 16,793 9,606
Total 4,541,450 4,589,441
Liabilities:    
Derivatives 0 0
Level 1 [Member]    
Assets:    
Short-term investments 2,053,510 1,808,797
Fixed maturities - available for sale 24,549 251,832
Preferred stock 20,556 21,982
Common stock 41,730 39,375
Derivatives 7,539 4,295
Total 2,147,884 2,126,281
Level 2 [Member]    
Assets:    
Short-term investments 1,635 644
Fixed maturities - available for sale 2,382,618 2,457,146
Preferred stock 0 0
Common stock 0 0
Derivatives 9,254 5,311
Total 2,393,507 2,463,101
Level 3 [Member]    
Assets:    
Short-term investments 0 0
Fixed maturities - available for sale 59 59
Preferred stock 0 0
Common stock 0 0
Derivatives 0 0
Total $ 59 $ 59
v3.23.2
Revenue Recognition (Revenue disaggregated by timing of revenue recognition) (Details) - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Revenue From Contract With Customer [Abstract]    
Revenues Recognized Over Time $ 91,315 $ 103,194
Revenues recognized at a point in time 117,593 126,355
Total revenues recognized under ASC 606 208,908 229,549
Revenues recognized under ASC 840 1,222,316 1,288,031
Revenues recognized under ASC 944 44,492 46,687
Revenues recognized under ASC 320 64,592 33,573
Total revenues $ 1,540,308 $ 1,597,840
v3.23.2
Revenue Recognition (Revenue over time) (Details)
$ in Thousands
Mar. 31, 2023
USD ($)
Contract With Customer Liability [Abstract]  
2020 $ 27,999
2021 14,626
2022 11,834
2023 8,920
2024 6,235
Thereafter 39,797
Self Moving Equipment [Member]  
Contract With Customer Liability [Abstract]  
2020 6,947
2021 0
2022 0
2023 0
2024 0
Thereafter 0
Property Lease Revenue [Member]  
Contract With Customer Liability [Abstract]  
2020 21,052
2021 14,626
2022 11,834
2023 8,920
2024 6,235
Thereafter $ 39,797
v3.23.2
Allowance For Credit Losses (Narratives) (Details)
$ in Millions
 3 Months Ended 12 Months Ended
Jun. 30, 2023
USD ($)
Mar. 31, 2022
USD ($)
Receivables [Abstract]    
Trade receivable components 2  
Historical loss rate 4.00%  
Allowance for expected credit losses $ 4.9 $ 3.8
Available for sale securities, accrued interest receivable $ 29.6  
Financing Receivable Allowance For Credit Loss Additional Information [Abstract]    
Modeling of mortgage loans Adjustments to this analysis are made to assess loans with a loan-to-value of 65% or greater.  
Reinsurance paid percentage of total assets 1.00%  
Premiums Receivable Gross $ 4.1  
Credit card receivables    
Receivables [Abstract]    
Average Historical Chargeback Term For credit card receivables, the Company uses a trailing 13 months average historical chargeback percentage of total credit card receivables to estimate a credit loss reserve. The Company rents equipment to corporate customers in which payment terms are 30 days.  
v3.23.2
Allowance For Credit Losses (Reserve Allowance For Various Credit Loss) (Details) - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Valuation And Qualifying Accounts [Abstract]    
March 31, 2023   $ 9,210
Transition adjustment current expected credit losses $ 437 (2,803)
Write-offs against allowance 0 0
Recoveries 0 0
June 30, 2023 6,844 6,407
Trade Receivables    
Valuation And Qualifying Accounts [Abstract]    
March 31, 2023   8,649
Transition adjustment current expected credit losses 591 (4,860)
Write-offs against allowance 0 0
Recoveries 0 0
June 30, 2023 4,380 3,789
Investments, Fixed Maturities    
Valuation And Qualifying Accounts [Abstract]    
March 31, 2023   60
Transition adjustment current expected credit losses (455) 2,041
Write-offs against allowance 0 0
Recoveries 0 0
June 30, 2023 1,646 2,101
Investments, Other    
Valuation And Qualifying Accounts [Abstract]    
March 31, 2023   501
Transition adjustment current expected credit losses 301 16
Write-offs against allowance 0 0
Recoveries 0 0
June 30, 2023 $ 818 $ 517
v3.23.2
Accounting Pronouncements (Adoption Of New Accounting Pronouncement Adjustments To Select Tables) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Jun. 30, 2023
Jun. 30, 2022
Statements Adjusted [Abstract]        
Assets $ 18,100,734   $ 18,614,034 $ 17,793,811
Liabilities 11,596,543   11,836,277  
Stockholders Equity Including Portion Attributable To Noncontrolling Interest 6,504,191 $ 5,894,075 $ 6,777,757 $ 6,086,986
Scenario Previously Reported [Member]        
Statements Adjusted [Abstract]        
Assets 18,124,648 17,299,581    
Liabilities 11,596,313 11,347,089    
Stockholders Equity Including Portion Attributable To Noncontrolling Interest (267,046) 46,384    
Cumulative Effect Period Of Adoption Adjustment [Member] | Life And Annuity Insurance Product Line [Member]        
Statements Adjusted [Abstract]        
Derecognition of shadow reserves 25,141 (26,131)    
Re-measurement due to discount rate 0 0    
Other adjustments (1,227) (1,471)    
Subtotal (23,914) 27,602    
After adoption 18,100,734 17,327,183    
Cumulative Effect Of Adoption Liabilities [Member] | Life And Annuity Insurance Product Line [Member]        
Statements Adjusted [Abstract]        
Derecognition of FIT on shadow reserves 5,280 (5,488)    
Re-measurement due to discount rate 1,626 (87,258)    
Re-measurement due to discount rate FIT 342 (18,324)    
Other adjustments (6,794) (8,511)    
Subtotal 230 82,933    
After adoption 11,596,543 11,430,022    
Cumulative Effect Of Adoption Comprehensive Income [Member] | Life And Annuity Insurance Product Line [Member]        
Statements Adjusted [Abstract]        
Derecognition of shadow reserves 19,861 (20,644)    
Re-measurement due to discount rate (1,626) 87,258    
Re-measurement due to discount rate FIT (342) 18,324    
Other adjustments 0 0    
Subtotal (18,577) (48,290)    
After adoption (285,623) (1,906)    
Cumulative Effect Of Adoption Stockholders Equity [Member] | Scenario Previously Reported [Member]        
Statements Adjusted [Abstract]        
Stockholders Equity Including Portion Attributable To Noncontrolling Interest 6,528,335 5,952,492    
Cumulative Effect Of Adoption Stockholders Equity [Member] | Life And Annuity Insurance Product Line [Member]        
Statements Adjusted [Abstract]        
Derecognition of FIT on shadow reserves 19,861 (20,644)    
Re-measurement due to discount rate FIT 1,284 (68,934)    
Other adjustments 5,567 7,042    
Subtotal (24,144) (55,332)    
After adoption $ 6,504,191 $ 5,897,160    
v3.23.2
Accounting Pronouncements (Consolidated Balance Sheet Before After Transition Date (Details) - USD ($)
$ in Thousands
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2022
Mar. 31, 2022
Mar. 31, 2021
Statements Adjusted [Abstract]          
Deferred policy acquisition costs, net $ 123,596 $ 128,463      
Assets 18,614,034 18,100,734 $ 17,793,811    
Policy benefits and losses, claims and loss expenses payable 878,436 880,202      
Deferred income taxes, net 1,371,859 1,329,489      
Total liabilities 11,836,277 11,596,543      
Accumulated other comprehensive loss (261,836) (285,623)      
Retained earnings 7,252,927 7,003,148      
Stockholders' Equity Attributable to Parent 6,777,757 6,504,191      
Liabilities and Equity $ 18,614,034 $ 18,100,734      
Before Transition Date [Member]          
Statements Adjusted [Abstract]          
Deferred policy acquisition costs, net         $ 89,749
Assets         14,651,606
Policy benefits and losses, claims and loss expenses payable         909,701
Deferred income taxes, net         1,199,280
Total liabilities         9,732,515
Accumulated other comprehensive loss         106,857
Retained earnings         5,025,568
Stockholders' Equity Attributable to Parent         4,919,091
Liabilities and Equity         $ 14,651,606
After Transition Date [Member]          
Statements Adjusted [Abstract]          
Deferred policy acquisition costs, net       $ 131,187  
Assets       14,693,044  
Policy benefits and losses, claims and loss expenses payable       1,040,951  
Deferred income taxes, net       1,182,123  
Total liabilities       9,846,608  
Accumulated other comprehensive loss       42,319  
Retained earnings       5,017,451  
Stockholders' Equity Attributable to Parent       4,846,436  
Liabilities and Equity       $ 14,693,044  
v3.23.2
Accounting Pronouncements (Effects of Adoption of ASU 2018-12 Balance Sheet) (Details) - USD ($)
$ in Thousands
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2022
Mar. 31, 2022
Statements Adjusted [Abstract]        
Deferred policy acquisition costs, net $ 123,596 $ 128,463    
Assets 18,614,034 18,100,734 $ 17,793,811  
Policy benefits and losses, claims and loss expenses payable 878,436 880,202    
Deferred income taxes, net 1,371,859 1,329,489    
Total liabilities 11,836,277 11,596,543    
Accumulated other comprehensive loss (261,836) (285,623)    
Retained earnings 7,252,927 7,003,148    
Stockholders' Equity Attributable to Parent 6,777,757 6,504,191    
Liabilities and Equity 18,614,034 18,100,734    
Operating Segments [Member] | Life Insurance [Member]        
Statements Adjusted [Abstract]        
Deferred policy acquisition costs, net 123,596 128,463    
Assets 2,896,430 2,891,574    
Policy benefits and losses, claims and loss expenses payable 401,467 391,968    
Deferred income taxes, net (70,690) (77,615)    
Total liabilities 2,745,055 2,759,328    
Accumulated other comprehensive loss (207,495) (225,904)    
Retained earnings 330,099 329,379    
Stockholders' Equity Attributable to Parent 151,375 132,246    
Liabilities and Equity $ 2,896,430 2,891,574    
Previously Reported        
Statements Adjusted [Abstract]        
Deferred policy acquisition costs, net   152,377    
Assets   18,124,648   $ 17,299,581
Policy benefits and losses, claims and loss expenses payable   875,034    
Deferred income taxes, net   1,334,427    
Total liabilities   11,596,313   $ 11,347,089
Accumulated other comprehensive loss   (267,046)    
Retained earnings   7,008,715    
Stockholders' Equity Attributable to Parent   6,528,335    
Liabilities and Equity   18,124,648    
Effect of adoption        
Statements Adjusted [Abstract]        
Deferred policy acquisition costs, net   (23,914)    
Assets   (23,914)    
Policy benefits and losses, claims and loss expenses payable   5,168    
Deferred income taxes, net   (4,938)    
Total liabilities   230    
Accumulated other comprehensive loss   (18,577)    
Retained earnings   (5,567)    
Stockholders' Equity Attributable to Parent   (24,144)    
Liabilities and Equity   $ (23,914)    
v3.23.2
Accounting Pronouncements (Effects of Adoption of ASU 2018-12 Statement Of Operations) (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Statements Adjusted [Abstract]    
Benefits and losses $ 45,344 $ 39,757
Amortization of deferred policy acquisition costs 8,045 7,672
Pretax earnings 338,695 445,399
Net earnings available to common shareholders 256,838 338,345
Common Stock [Member]    
Statements Adjusted [Abstract]    
Net earnings available to common shareholders $ 0 $ 0
Basic and diluted earnings per share Common Stock $ 1.27 $ 2.18
Nonvoting Common Stock [Member]    
Statements Adjusted [Abstract]    
Net earnings available to common shareholders $ 0 $ 0
Basic and diluted earnings per share Common Stock $ 1.31 $ 1.68
Operating Segments [Member] | Life Insurance [Member]    
Statements Adjusted [Abstract]    
Benefits and losses $ 40,886 $ 35,378
Amortization of deferred policy acquisition costs 8,045 7,672
Pretax earnings 1,236 5,796
Net earnings available to common shareholders $ 720 5,413
Previously Reported    
Statements Adjusted [Abstract]    
Benefits and losses   44,100
Pretax earnings   441,056
Net earnings available to common shareholders   $ 334,002
Previously Reported | Common Stock [Member]    
Statements Adjusted [Abstract]    
Basic and diluted earnings per share Common Stock   $ 2.15
Previously Reported | Nonvoting Common Stock [Member]    
Statements Adjusted [Abstract]    
Basic and diluted earnings per share Common Stock   $ 1.65
Effect of adoption    
Statements Adjusted [Abstract]    
Benefits and losses   $ (4,343)
Pretax earnings   4,343
Net earnings available to common shareholders   $ 4,343
Effect of adoption | Common Stock [Member]    
Statements Adjusted [Abstract]    
Basic and diluted earnings per share Common Stock   $ 0.03
Effect of adoption | Nonvoting Common Stock [Member]    
Statements Adjusted [Abstract]    
Basic and diluted earnings per share Common Stock   $ 0.03
v3.23.2
Accounting Pronouncements (Deferred Acquisition Costs) (Details) - USD ($)
$ in Thousands
Apr. 01, 2021
Mar. 31, 2021
Liability For Unpaid Claims And Claims Adjustment Expense Net [Abstract]    
Balance, end of year March 31, 2021   $ 89,749
Adjustments for removal of related balances in accumulated other comprehensive income   41,438
Adjusted balance, beginning of year April 1, 2021 $ 131,187  
Deferred Fixed Annuity [Member]    
Liability For Unpaid Claims And Claims Adjustment Expense Net [Abstract]    
Balance, end of year March 31, 2021   15,654
Adjustments for removal of related balances in accumulated other comprehensive income   41,438
Adjusted balance, beginning of year April 1, 2021 57,092  
Life And Annuity Insurance Product Line [Member]    
Liability For Unpaid Claims And Claims Adjustment Expense Net [Abstract]    
Balance, end of year March 31, 2021   64,552
Adjustments for removal of related balances in accumulated other comprehensive income   0
Adjusted balance, beginning of year April 1, 2021 64,552  
Health Insurance Product Line [Member]    
Liability For Unpaid Claims And Claims Adjustment Expense Net [Abstract]    
Balance, end of year March 31, 2021   9,543
Adjustments for removal of related balances in accumulated other comprehensive income   $ 0
Adjusted balance, beginning of year April 1, 2021 $ 9,543  
v3.23.2
Deferred Policy Acquisition Costs Net Long Duration Contracts (Details) - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Movement Analysis Of Deferred Policy Acquisition Costs [Roll Forward]    
Balance, beginning of year $ 128,463 $ 131,430
Capitalization 3,178 7,398
Amortization expense (5,518) (5,854)
Other, including experience (2,527) (1,818)
Balance, end of the year 123,596 131,156
Deferred liabilities    
Movement Analysis Of Deferred Policy Acquisition Costs [Roll Forward]    
Balance, beginning of year 55,396 55,261
Capitalization 1,951 4,935
Amortization expense (3,384) (3,584)
Other, including experience (1,632) (2,362)
Balance, end of the year 52,331 54,250
Life Insurance    
Movement Analysis Of Deferred Policy Acquisition Costs [Roll Forward]    
Balance, beginning of year 66,954 67,573
Capitalization 1,166 2,340
Amortization expense (1,944) (2,030)
Other, including experience (327) 852
Balance, end of the year 65,849 68,735
Health Insurance    
Movement Analysis Of Deferred Policy Acquisition Costs [Roll Forward]    
Balance, beginning of year 6,113 8,596
Capitalization 61 123
Amortization expense (190) (240)
Other, including experience (568) (308)
Balance, end of the year $ 5,416 $ 8,171