U-Haul 2004 Annual Report Download - page 2

Download and view the complete annual report

Please find page 2 of the 2004 U-Haul annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 125

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125

SELECTED FINANCIAL DATA
Listed below is selected financial data for AMERCO and consolidated entities for 3 years ended March 31:
For the Year Ended March 31,
2004 2003 2002
(In thousands except share and per share data)
Summary of Operations:
Total revenues . . . . . . . . . . . . . . . . . 2,167,495 2,132,387 2,193,579
Total costs and expenses . . . . . . . . . 2,040,580 2,023,177 2,151,445
Earnings from operations . . . . . . . . . . . . . . . . 126,915 109,210 42,134
Interest expense . . . . . . . . . . . . . . . . . . . . . 121,690 121,631 109,465
Fees on early termination of BBATs ––– 26,500 –––
Pretax earnings (loss) . . . . . . . . . . . . . . . . . . . . 5,225 (38,921) (67,331)
Income tax benefit (expense). . . . . . . . . . . . (8,077) 13,935 19,891
Net earnings (loss) . . . . . . . . . . . . . . . . . . $ (2,852) $ (24,986) $ (47,440)
Less: Preferred stock dividends . . . . . . . . . . . 12,963 12,963 12,963
Earnings (loss) available to
common shareholders . . . . . . . . . . . . . . . . (15,815) (37,949) (60,403)
Net earnings (loss) per common
share basic and diluted . . . . . . . . . . . . . . $ (.76) $ (1.82) $ (2.87)
Weighted average common shares
outstanding basic and diluted . . . . . . . . . 20,749,998 20,824,618 21,063,720
Selected Balance Sheet Data:
Property, plant and equipment, net $1,451,805 $1,946,317 $ 1,936,076
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,375,605 3,832,372 3,732,317
Stockholders' equity . . . . . . . . . . . . . . . . . . . . 503,846 327,448 381,524