U-Haul 2004 Annual Report Download - page 76

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AMERCO AND CONSOLIDATED ENTITIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Ì (Continued)
The adjusted cost and estimated market value of Ñxed maturity investments in debt securities at
December 31, 2003 as compared to December 31, 2002, by contractual maturity, were as follows:
December 31, 2003 December 31, 2002
Estimated Estimated
Amortized Market Amortized Market
Cost Value Cost Value
(In thousands)
Consolidated Held-to Maturity
Due in one year or less ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $ Ì $ Ì $ 19 $ 20
Due after one year through Ñve years ÏÏÏÏÏÏÏÏÏÏÏÏ 240 283 204 252
Due after Ñve years through ten yearsÏÏÏÏÏÏÏÏÏÏÏÏ 219 294 205 287
After ten years ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 63 93 72 111
522 670 500 670
Mortgage-backed securitiesÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 5,308 5,415 15,683 16,266
Redeemable preferred stock ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ Ì Ì Ì Ì
$5,830 $6,085 $16,183 $16,936
Expected maturities may diÅer from contractual maturities as borrowers may have the right to call or
prepay obligations with or without call or prepayment penalties.
The company deposits bonds with insurance regulatory authorities to meet statutory requirements. The
adjusted cost of bonds on deposit with insurance regulatory authorities was $12.9 million at December 31,
2003 and $11.7 million at December 31, 2002.
Available-for-Sale Investments
Available-for-sale investments at December 31, 2003 were as follows:
Gross Gross Estimated
Amortized Unrealized Unrealized Market
Cost Gains Losses Value
(In thousands)
December 31, 2003
Consolidated Available-for-Sale
U.S. treasury securities and government
obligations ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $ 29,765 $ 2,134 $ (36) $ 31,863
U.S. government agency mortgage-backed
securities ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 10,570 316 (12) 10,874
Obligations of states and political subdivisions ÏÏÏ 2,850 91 Ì 2,941
Corporate securities ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 510,596 32,515 (7,467) 535,644
Mortgage-backed securitiesÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 74,268 1,739 (1,371) 74,636
Redeemable preferred stocks ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 45,861 1,426 (71) 47,216
Redeemable common stocks ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 243 106 Ì 349
$674,153 $38,327 $(8,957) $703,523
F-15