U-Haul 2007 Annual Report Download - page 21

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of Operations, and the Consolidated Financial Statements and related notes in
th
low is selected financial data for AMERCO and consolidated entities for each of the last five years ended
March 31:
(b) Includes the write-off of debt issuance costs of $7.0 million in fiscal 2007 and $14.4 million in fiscal 2006.
em 6. Selected Financial Data
The following selected financial data should be read in conjunction with Management’ s Discussion and Analysis
of Financial Condition and Results
is Annual Report on Form 10-K.
Listed be
2007 2006 2005 2004 2003
Summary of Operations:
Self-moving equipment rentals $ 1,476,579 $ 1,503,569 $ 1,437,895 $ 1,381,208 $ 1,293,732
Self-storage revenues 126,424 119,742 114,155 247,640 238,938
Self-moving and self-storage products and service sales 224,722 223,721 206,098 232,965 223,677
Property management fees 21,154 21,195 11,839 259 89
Life insurance premiums 120,399 118,833 126,236 145,082 158,719
Property and casualty insurance premiums 24,335 26,001 24,987 92,036 149,206
Net investment and interest income 61,093 53,094 56,739 38,281 40,731
Other revenue 30,891 40,471 30,172 38,523 36,252
Total revenues 2,085,597 2,106,626 2,008,121 2,175,994 2,141,344
Operating expenses 1,080,897 1,080,990 1,122,197 1,179,996 1,182,222
Commission expenses 177,008 180,101 172,307 147,010 138,652
Cost of sales 117,648 113,135 105,309 111,906 115,115
Benefits and losses 118,725 117,160 140,343 217,447 248,349
Amortization of deferred policy acquisition costs 17,138 24,261 28,512 39,083 37,681
Lease expense 149,044 142,781 151,354 160,727 166,101
Depreciation, net of (gains) losses on disposal 189,589 142,817 121,103 148,813 137,446
Restructuring expense - - - 44,097 6,568
Total costs and expenses 1,850,049 1,801,245 1,841,125 2,049,079 2,032,134
Earnings from operations 235,548 305,381 166,996 126,915 109,210
Interest expense (82,756) (69,481) (73,205) (121,690) (148,131)
Fees and amortization on early extinguishment of debt (b) (6,969) (35,627) - - -
Litigation settlement, net of costs, fees and expenses - - 51,341 - -
Pretax earnings (loss) 145,823 200,273 145,132 5,225 (38,921)
Income tax benefit (expense) (55,270) (79,119) (55,708) (8,077) 13,935
Net earnings (loss) 90,553 121,154 89,424 (2,852) (24,986)
Less: Preferred stock dividends (12,963) (12,963) (12,963) (12,963) (12,963)
Earnings (loss) available to common shareholders $ 77,590 $ 108,191 $ 76,461 $ (15,815) $ (37,949)
Net earnings (loss) per common share basic and diluted $ 3.72 $ 5.19 $ 3.68 $ (0.76) $ (1.82)
Weighted average common shares outstanding: Basic and diluted 20,838,570 20,857,108 20,804,773 20,749,998 20,824,618
Cash dividends declared and accrued
Preferred stock $ 12,963 $ 12,963 $ 12,963 $ 12,963 $ 12,963
Balance Sheet Data:
Property, plant and equipment, net 1,897,071 1,535,165 1,354,468 1,451,805 1,946,317
Total assets 3,523,048 3,367,218 3,116,173 3,394,748 3,832,372
Capital leases - - - 99,607 137,031
AMERCO's notes and loans payable 1,181,165 965,634 780,008 862,703 940,063
SAC Holdings II notes and loans payable, non-recourse to AMERCO (a) 74,887 76,232 77,474 78,637 466,781
Stockholders' equity 718,098 695,604 572,839 503,846 327,448
(a) The amount for fiscal 2003 includes SAC Holding and SAC Holding II.
Year Ended March 31,
(In thousands, except share and per share data)