Amerco (UHAL)
CashFlow / Quarterly
Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10
Cash flow from operating activities:
Net earnings

30,932

156,326

132,422

831

78,635

163,542

127,849

10,843

528,894

124,639

126,207

9,548

65,228

176,475

147,173

52,568

81,769

183,379

171,285

9,480

66,540

156,247

124,474

39,211

52,221

137,991

112,968

37,873

36,846

109,420

80,569

25,405

728

101,011

78,223

13,246

18,608

85,219

66,502

Adjustments to reconcile net earnings to cash provided by operations:
Depreciation

167,923

169,552

157,278

149,373

144,269

144,661

142,722

144,269

141,295

138,082

131,423

127,337

120,640

119,522

114,021

101,831

94,697

95,899

96,966

92,925

87,254

88,607

84,010

78,901

72,750

72,519

68,999

68,135

64,230

64,486

63,641

62,767

56,973

55,981

54,068

53,799

52,470

53,078

52,977

Amortization of deferred policy acquisition costs

8,046

6,515

6,064

9,972

6,654

5,899

6,031

6,297

5,952

5,944

6,321

7,087

5,200

5,989

7,942

7,713

5,138

5,643

4,778

6,465

4,722

4,290

4,184

5,785

4,457

6,057

3,683

8,086

3,391

3,088

2,811

3,075

3,666

2,675

4,375

2,945

2,480

1,876

2,193

Accretion Amortization Of Discounts And Premiums Investments

3,367

3,206

3,275

3,305

3,345

3,238

3,219

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of debt issuance costs

1,175

1,047

1,053

1,001

909

1,029

984

958

964

1,014

932

937

1,360

804

961

1,100

807

769

743

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest Credited To Policy Owner Account

11,585

12,366

14,218

6,847

10,814

9,666

8,060

9,052

8,131

7,468

7,651

6,830

7,162

5,969

5,059

6,621

3,360

5,000

5,484

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in allowance for losses on trade receivables

37

49

-162

-72

-185

271

38

-95

-23

24

-26

-18

-62

13

21

-23

-173

52

-61

44

7

-241

22

-48

18

8

-14

-61

-70

99

-102

-119

-73

-151

135

2

50

4

-28

Change in allowance for inventory reserves

-622

170

367

-2,685

1,391

-991

2,139

731

1,381

1,839

1,114

-567

1,097

-421

1,221

596

-1,336

-355

-248

-128

216

800

-1,760

-2,769

2,924

1,651

-935

-917

345

1,010

695

-1,623

997

631

1,377

-1,945

431

346

494

Net gain on sale of real and personal property

-2,151

17,999

16,678

-2,145

796

12,036

16,295

-2,438

4,234

4,938

5,088

2,097

2,140

9,618

18,640

10,369

8,984

32,821

45,984

24,687

5,444

21,541

22,959

10,720

1,961

9,311

11,565

7,617

1,831

5,532

7,516

-

-

-

-

-

-

-

-

Gain Loss Disposal Of Assets

528

-217

-1,622

34

0

10

0

3,191

192,042

-166

347

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

699

27,337

-9,710

42,022

-1,655

-8,921

-8,388

Net (gain) loss on sale of investments

1,182

3,328

4,267

-931

3,649

451

-506

2,019

1,191

1,074

1,985

1,336

-697

2,239

2,406

712

757

1,569

1,453

671

466

1,914

874

323

2,028

2,284

1,776

7,273

1,288

-199

-39

125

574

8,396

-3,516

2,681

-217

-314

-1,015

Realized Investment Gains Losses

-1,196

-338

-2,215

1,450

2,945

168

1,176

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income tax

4,097

53,945

29,763

2,486

15,840

50,911

37,574

-14,387

-242,112

51,041

12,024

60,664

-2,276

91,991

22,733

-13,324

124,140

8,393

18,866

5,015

48,273

10,805

12,407

-1,662

-15,914

32,119

31,828

-4,239

-7,169

20,285

4,641

9,779

5,452

56,683

32,446

21,270

2,537

31,861

25,230

Net change in other operating assets and liabilities:
Reinsurance recoverables and trade receivables

-22,288

-20,686

18,215

32,966

-16,054

-90

14,543

-12,330

11,764

7,025

8,870

-21,029

15,817

-6,036

14,138

-6,197

5,050

-32,967

19,349

-7,737

11,501

-14,113

717

-29,151

-8,794

-47,276

22,715

35,387

-38,293

-56,902

23,486

222,842

-123,774

15,193

-37,146

28,581

-28,578

9,376

-15,345

Inventories

24

1,497

-2,110

4,634

4,511

-2,823

7,170

-5,026

-3,626

9,054

11,982

2,171

-773

-1,717

4,391

5,122

1,780

1,967

140

-474

793

699

561

-1,007

6,752

4,777

973

-510

-2,325

7,027

-5,398

0

-4

570

-393

2,378

-5,147

-379

-3,283

Prepaid expenses

-5,506

6,188

15,720

-3,913

-5,176

-290

17,999

18,545

63,706

3,302

-44,788

70,192

-33,330

-6,420

-39,828

-46,677

128,828

-15,189

-56,624

26,815

52,917

-8,644

-5,368

10,923

-10,786

11,775

-14,098

2,304

13,705

-689

267

-18,414

-6,036

7,552

1,150

-14,028

4,809

7,306

-2,331

Capitalization of deferred policy acquisition costs

7,160

5,280

5,090

5,963

7,068

7,118

5,808

5,849

6,347

6,926

8,228

6,071

6,680

7,108

7,252

7,787

9,167

8,499

7,137

6,926

6,430

7,153

6,575

7,483

8,839

8,481

7,808

7,555

18,596

29,909

-5,420

42,238

-10,062

-4,492

-4,518

-4,655

-13,207

-3,714

-3,663

Other assets

818

2,812

-3,337

1,973

-100,986

-58,900

761

172,247

-16,723

7,921

2,523

1,825

-8,032

5,303

3,392

2,100

-1,567

-7,426

-9,368

-41,612

33,778

1,071

6,814

262

-12,299

-162

4,532

1,156

-2,942

-40,288

20,518

-9,615

-18,350

11,387

10,586

-11,524

39,473

1,575

-809

Related party assets

12,488

3,655

1,364

-6,032

8,019

-3,976

-2,205

-5,604

-38,846

-1,122

-7,836

-5,812

10,664

-1,111

-4,084

-6,841

7,964

-52,101

-5,666

-6,936

-18,600

5,919

-8,089

-1,924

3,020

16,228

-24,878

5,918

2,649

-287,129

144,890

19,567

-11,001

8,842

-3,198

-1,223

-5,574

2,019

4,691

Accounts payable and accrued expenses

-8,833

-29,129

89,716

24,494

-71,975

-28,686

86,430

-63,744

-42,786

7,846

61,704

-46,321

-14,389

-11,937

57,099

-11

-22,202

5,528

53,997

102,683

-40,216

-57,594

94,004

39,137

-27,638

6,704

18,162

40,904

-46,284

93,393

-47,981

26,897

3,899

-28,861

17,534

-27,234

-5,415

-18,866

38,968

Policy benefits and losses, claims and loss expenses payable

-6,735

8,391

2,318

-76,835

-109,511

-55,065

5,291

158,354

-9,290

7,310

4,747

2,535

-4,079

15,549

1,373

-3,350

1,274

33

11,669

-34

-13,669

5,960

-9,878

-12,159

-18,646

-1,300

1,609

-252

-12,813

-41,655

24,242

434,127

-185,940

-40,374

4,517

-194,113

45,327

29,212

10,240

Other policyholders' funds and liabilities

2,013

1,145

-5,281

2,140

-435

3,486

-184

-699

-9,715

6,222

4,083

1,881

-1,945

1,321

242

211

-3,244

-2,016

4,700

-1,742

1,574

-671

1,827

654

-517

674

-180

946

-5,055

2,246

1,884

-4,791

191

4,226

-1,084

-1,370

2,335

-1,431

-100

Deferred income

-4,394

-6,450

8,527

5,948

-4,858

-7,856

7,732

6,821

-4,957

-4,733

8,393

4,816

-3,929

-3,693

8,727

3,752

-1,334

-6,003

8,342

3,551

-18,694

-5,721

7,683

1,931

-2,863

-5,393

7,584

2,392

-3,033

5,786

-6,457

5,437

3,488

-12,886

8,328

-2,870

-1,496

-4,328

6,727

Related party liabilities

-979

333

1,092

1,202

7

-3,750

474

3,926

-880

-1,130

-2,532

-351

-943

-549

781

262

-781

-1,535

1,438

-888

-353

-1,503

1,878

-1,527

1,782

-1,487

5,962

-924

973

1,863

-1,448

3,009

-2,697

-513

245

-468

-474

-98

791

Net cash provided by operating activities

215,217

356,838

380,926

96,888

176,018

333,007

369,670

98,663

156,403

306,282

376,336

128,142

178,218

392,049

361,046

191,026

121,152

357,614

375,554

236,927

42,925

185,439

293,808

172,715

77,853

244,125

239,273

85,243

36,852

186,554

352,881

172,192

78,302

265,929

153,419

108,434

106,757

183,821

173,851

Cash flow from investing activities:
Escrow deposits

-1,580

-3,605

-1,968

-7,591

4,654

-5,921

4,559

-11,655

7,352

-4,054

-23,005

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments To Acquire Investments [Abstract]
Property, plant and equipment

328,491

742,123

847,248

544,603

210,821

566,397

548,147

393,273

216,420

273,793

480,259

438,189

220,039

323,990

437,287

457,324

331,565

267,693

452,572

316,484

126,096

255,363

343,988

309,950

232,622

182,515

275,156

233,144

141,854

123,200

157,786

168,056

73,412

132,552

215,779

142,908

63,270

135,338

138,902

Short term investments

27,077

11,691

8,689

14,554

17,159

7,945

14,390

14,813

13,978

18,274

16,491

69,476

156,446

132,887

277,038

124,216

142,601

175,565

73,517

87,361

72,724

68,001

62,293

66,927

49,060

90,051

64,652

121,865

138,786

90,592

60,395

122,309

30,106

72,844

66,363

88,315

62,666

57,958

51,827

Fixed maturity investments

89,283

102,111

76,515

145,779

154,294

136,851

103,121

116,617

54,663

96,530

123,090

93,250

93,034

2,169

166,648

80,323

148,765

122,827

47,072

32,547

67,712

44,686

69,426

44,922

62,909

107,738

66,855

134,972

128,349

129,388

50,553

-

-

-

-

-

-

-

-

Equity securities

0

83

0

0

0

911

46

0

0

662

0

-

-

-

-

0

0

348

967

0

52

426

3,281

1,174

0

0

388

13,159

3,104

26

0

0

-8

297

8,759

-

-

-

-

Payments To Acquire Investments

0

0

0

-

0

0

81

0

0

1,000

0

-

-

-

-

1,000

2

1

2

2,001

2

1

2

5

0

1

634

3,535

1,561

1,200

0

-

-

-

-

-

-

-

-

Real estate

116

40

328

130

287

138

80

156

1,665

-387

505

16,944

75

12,293

3,495

15,436

0

0

23

26,947

16

7,101

4,211

101

179

121

131

20

261

792

0

2,628

55

5,134

12

48

-1,639

1,650

134

Mortgage loans

23,425

10,250

9,410

6,719

32,760

15,870

8,262

2,800

29,890

26,435

24,382

-4,999

22,627

74,110

62,572

-12,345

13,188

3,522

82,839

-17,558

16,176

16,120

5,069

3,787

34,372

4,462

9,798

30,128

-245

36,376

14,452

33,052

28,499

29,410

36,202

17,566

19,684

1,257

51

Proceeds from sale of:
Property, plant and equipment

198,346

240,697

160,754

44,423

131,938

242,364

187,546

108,763

331,590

117,107

142,343

74,583

102,483

163,213

147,196

75,654

84,404

185,065

194,133

89,949

61,021

131,670

128,989

55,975

37,625

83,214

93,239

53,795

34,307

70,171

62,426

29,060

29,563

55,279

55,010

31,060

27,194

74,932

47,225

Short term investments

29,577

10,300

6,982

19,025

22,444

4,152

20,416

13,471

15,392

14,288

24,639

88,771

180,447

107,167

279,341

127,336

157,210

155,302

88,332

67,273

90,284

67,695

62,631

57,211

49,261

97,762

64,818

136,630

126,313

95,156

59,421

113,952

32,881

74,183

79,877

104,041

34,711

94,034

84,427

Fixed maturity investments

65,513

89,425

38,258

40,775

18,125

50,006

14,645

61,065

31,612

34,233

36,559

42,009

26,708

64,579

55,946

18,809

46,642

58,745

30,340

32,495

26,417

23,331

25,624

14,256

31,095

51,559

41,491

75,674

32,546

28,608

23,978

-

-

-

-

-

-

-

-

Equity securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,236

0

9

799

0

52

1,021

2,009

2,182

20,154

5,899

904

372

0

0

0

12

0

1,410

8,800

0

1,065

0

133

Preferred stock

-

0

0

-

-

625

500

1,020

2,200

988

0

830

700

651

2,000

1,126

0

0

0

400

1,027

0

1,000

0

0

2,709

3,295

1,530

4,275

450

1,003

-

-

-

-

-

-

-

-

Real estate

0

0

311

-

-

-

-

-2,565

2,684

0

2,664

7,072

850

0

831

21,589

0

0

0

-

-

-

-

-

-

-

-

0

81

586

4

294

37

75

34

1,735

-493

-905

1,588

Mortgage loans

4,753

2,621

1,678

30,937

103,888

3,510

9,402

13,864

14,142

3,530

6,054

-2,428

3,529

11,716

94,015

-7,173

4,246

15,589

14,306

-19,298

14,569

6,554

12,069

3,452

8,819

16,263

20,152

46,499

36,515

1,153

11,547

13,957

11,161

11,730

17,992

6,359

7,376

700

721

Net cash used by investing activities

-168,438

-519,650

-732,239

-568,953

-134,472

-421,534

-446,177

-320,386

73,652

-242,107

-409,463

-439,313

-178,272

-198,612

-367,711

-431,735

-343,619

-155,246

-329,082

-248,874

-89,413

-161,026

-255,948

-293,246

-232,188

-127,482

-193,715

-222,323

-179,633

-185,450

-124,807

-204,427

-75,006

-128,737

-173,967

-134,715

-68,385

-71,824

-99,046

Cash flow from financing activities:
Borrowings from credit facilities

209,117

325,045

333,700

204,179

379,833

209,658

103,641

72,202

140,730

130,165

155,367

208,617

202,221

228,449

103,338

329,696

46,541

373,529

88,206

147,461

3,282

299,640

207,152

107,990

184,998

49,859

88,182

19,227

162,472

62,660

26,187

3,218

56,270

119,734

58,558

15,175

172,131

42,599

91,957

Principal repayments on credit facilities

81,698

82,530

61,104

44,625

72,168

109,185

73,770

53,239

88,858

149,535

64,819

123,299

86,066

110,153

48,326

148,099

92,346

105,161

82,797

327,050

58,571

155,637

52,464

54,515

115,608

60,949

61,996

23,259

63,202

110,354

61,142

35,273

67,513

56,850

42,252

39,998

39,464

102,741

106,679

Payment of debt issuance costs

1,370

2,296

5

2,146

3,677

0

1,420

530

1,168

1,679

1,734

526

2,444

1,862

223

4,227

0

5,957

0

2,630

-150

7,425

2,422

590

3,120

1

232

-129

1,342

1,010

0

216

472

756

560

0

1,898

0

89

Capital lease payments

66,286

86,456

94,446

66,748

88,770

63,539

84,374

76,740

69,321

93,780

56,522

70,795

58,336

46,009

37,405

58,459

32,416

43,812

33,974

55,724

24,784

22,687

18,007

15,599

16,055

10,976

10,449

8,567

8,427

5,995

3,888

2,366

2,457

1,778

1,727

1,670

1,483

1,418

6,951

Origination Repayment Of Loans To By Employee Stock Ownership Plan

0

75

131

215

66

80

57

4,876

2,804

7,476

-3,516

3,565

2,888

3,260

1,393

10,861

-75

-96

-1,388

8,123

-60

-211

87

-183

130

133

127

133

243

154

162

157

271

276

280

291

289

297

295

Securitization cost

-

-

0

-

-

-

-

-1

1,995

235

-49

-75

-126

-152

-93

-96

-150

-298

0

-

-

-

-

-

-

-

-

-2,924

0

821

908

-1,588

-2,072

-10,475

-27,953

-

-

-

0

Preferred stock redemption paid

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

144,289

-

-

-

0

Preferred stock dividends paid

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-164

3,077

3,076

3,079

3,101

3,156

Common stock dividend paid

0

9,804

9,796

9,794

0

19,590

9,795

9,793

0

19,587

0

19,586

19,585

0

19,586

0

58,780

19,594

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Contribution to related party

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-518

-

-

-

0

Investment contract deposits

65,619

44,331

61,515

99,203

121,312

103,265

76,343

54,119

114,943

77,315

155,437

104,594

50,388

56,009

74,157

125,325

92,692

106,452

33,768

10,040

23,408

33,679

37,892

7,795

35,675

39,511

34,742

33,251

98,545

140,940

28,993

3,044

4,582

3,640

2,588

3,077

2,628

2,857

3,018

Investment contract withdrawals

44,771

41,123

37,054

23,192

38,413

32,465

38,763

19,050

66,237

43,057

54,205

84,700

14,904

35,504

14,051

71,699

15,284

12,759

13,215

15,455

14,578

12,524

11,551

10,229

9,727

7,967

6,754

8,964

7,662

7,308

7,967

6,608

6,000

7,224

8,195

8,799

8,340

8,724

8,685

Net cash provided by (used in) financing activities

59,011

168,692

192,679

156,662

298,051

88,064

-28,195

-37,906

25,290

-107,869

137,089

10,815

68,512

87,822

56,604

164,890

-59,518

292,900

-9,400

-270,707

-71,153

134,835

160,687

14,687

76,293

9,610

43,620

14,874

83,206

78,266

-18,563

-55,940

-13,247

67,681

-111,239

3,385

36,368

-70,231

-30,290

Effects of exchange rate on cash

930

-480

4,764

4,719

-7,652

2,492

-4,275

-3,870

-809

5,853

4,424

13,977

-5,600

-6,120

-4,397

1,838

-5,035

-9,183

-3,360

-4,519

-2,482

-2,687

-1,074

-659

81

736

-335

-174

-122

136

-376

12

83

-433

44

92

748

-50

-519

Increase (decrease) in cash and cash equivalents

106,720

5,400

-153,870

-310,684

331,945

2,029

-108,977

-263,499

254,536

-37,841

108,386

-286,379

62,858

275,139

45,542

-73,981

-287,020

486,085

33,712

-287,173

-120,123

156,561

197,473

-106,503

-77,961

126,989

88,843

-122,380

-59,697

79,506

209,135

-88,163

-9,868

204,440

-131,743

-22,804

75,488

41,716

43,996