U-Haul 2007 Annual Report Download - page 82

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AMERCO AND CONSOLIDATED ENTITIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS -- (CONTINUED)
Note 4: Earnings Per Share
Net earnings for purposes of computing earnings per common share are net earnings less preferred stock dividends.
Preferred stock dividends include accrued dividends of AMERCO.
The shares used in the computation of the Company’ s basic and diluted earnings per common share were as follows:
2007 2006 2005
Basic and diluted earnings per common share $ 3.72 $ 5.19 $ 3.68
Weighted average common shares outstanding:
Basic and diluted 20,838,570 20,857,108 20,804,773
Year Ended March 31,
The weighted average common shares outstanding listed above exclude post-1992 shares of the employee stock
ownership plan that have not been committed to be released. The unreleased shares net of shares committed to be released
were 344,288, 393,174 and 456,254 as of March 31, 2007, 2006, and 2005, respectively.
6,100,000 shares of preferred stock have been excluded from the weighted average shares outstanding calculation
because they are not common stock and they are not convertible into common stock.
Note 5: Reinsurance Recoverables and Trade Receivables, Net
Reinsurance recoverables and trade receivables, net were as follows:
2007 2006
Reinsurance recoverable $ 145,643 $ 182,382
Paid losses recoverable 8,394 15,366
Trade accounts receivable 18,768 17,789
Accrued investment income 6,810 7,654
Premiums and agents' balances 1,623 1,962
Independent dealer receivable 659 763
Other receivable 3,777 5,465
185,674 231,381
Less: Allowance for doubtful accounts (1,057) (1,202)
$ 184,617 $ 230,179
March 31,
(In thousands)
Note 6: Notes and Mortgage Receivables, Net
Notes and mortgage receivables, net were as follows:
2007 2006
Notes, mortgage receivables and other, net of discount $ 2,023 $ 2,926
Less: Allowance for doubtful accounts (354) (394)
$ 1,669 $ 2,532
March 31,
(In thousands)
F-17