U-Haul 2007 Annual Report Download - page 68

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AMERCO AND CONSOLIDATED ENTITIES
CONSOLIDATED BALANCE SHEETS
2007 2006
ASSETS
Cash and cash e
q
uivalents $ 75,272 $ 155,459
Reinsurance recoverables and trade receivables, net 184,617 230,179
Notes and mort
g
a
g
e receivables, net 1,669 2,532
Inventories, net 67,023 64,919
Pre
p
aid ex
p
enses 52,080 53,262
Investments, fixed maturities and marketable e
q
uities 681,801 695,958
Investments, other 178,699 209,361
Deferred
p
olic
y
ac
q
uisition costs, net 44,514 47,821
Other assets 95,123 102,094
Related
p
art
y
assets 245,179 270,468
1,625,977 1,832,053
Pro
p
ert
y
,
p
lant and e
q
ui
p
ment, at cost:
Land 202,917 175,785
Buildin
g
s and im
p
rovements 802,289 739,603
Furniture and e
q
ui
p
ment 301,751 281,371
Rental trailers and other rental e
q
ui
p
ment 200,208 201,273
Rental trucks 1,604,123 1,331,891
SAC Holdin
g
II -
p
ro
p
ert
y
,
p
lant and e
q
ui
p
ment 80,349 79,217
3,191,637 2,809,140
Less: Accumulated de
p
reciation
(
1,294,566
)
(
1,273,975
)
Total
p
ro
p
ert
y
,
p
lant and e
q
ui
p
ment 1,897,071 1,535,165
Total assets $ 3,523,048 $ 3,367,218
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
Accounts
p
a
y
able and accrued ex
p
enses $ 251,197 $ 235,878
AMERCO's notes and loans
p
a
y
able 1,181,165 965,634
SAC Holdin
g
II notes and loans
p
a
y
able, non-recourse to AMERCO 74,887 76,232
Polic
y
benefits and losses, claims and loss ex
p
enses
p
a
y
able 768,751 800,413
Liabilities from investment contracts 386,640 449,149
Other
p
olic
y
holders' funds and liabilities 10,563 7,705
Deferred income 16,478 21,346
Deferred income taxes 113,170 108,092
Related
p
art
y
liabilities 2,099 7,165
Total liabilities 2,804,950 2,671,614
Commitments and contin
g
encies
(
notes 9, 15,16,17 and 19
)
Stockholders' e
q
uit
y
:
Series
p
referred stock, with or without
p
ar value, 50,000,000 shares authorized:
Series A
p
referred stock, with no
p
ar value, 6,100,000 shares authorized;
6,100,000 shares issued and outstandin
g
as of March 31, 2007 and 2006 - -
Series B
p
referred stock, with no
p
ar value, 100,000 shares authorized; none
issued and outstandin
g
as of March 31, 2007 and 2006
-
-
Series common stock, with or without
p
ar value, 150,000,000 shares authorized:
Series A common stock of $0.25
p
ar value, 10,000,000 shares authorized;
none issued as of March 31, 2007 and 3,716,181 shares issued as of March 31, 2006 - 929
Common stock of $0.25
p
ar value, 150,000,000 shares authorized; 41,985,700
issued as of March 31, 2007 and 38,269,519 issued as of March 31, 2006 10,497 9,568
Additional
p
aid-in ca
p
ital 375,412 367,655
Accumulated other com
p
rehensive loss
(
41,779
)
(
28,902
)
Retained earnin
g
s849,300 773,784
Cost of common shares in treasur
y
, net
(
21,440,387 and 20,701,096 shares as of
March 31, 2007 and 2006
)
(
467,198
)
(
418,092
)
Unearned em
p
lo
y
ee stock ownershi
p
p
lan shares
(
8,134
)
(
9,338
)
Total stockholders' e
q
uit
y
718,098 695,604
Total liabilities and stockholders' equit
y
$ 3,523,048 $ 3,367,218
March 31,
(In thousands)
The accompanying notes are an integral part of these consolidated financial statements.
F-3