U-Haul 2007 Annual Report Download - page 86

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AMERCO AND CONSOLIDATED ENTITIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS -- (CONTINUED)
Note 8: Net Investment and Interest Income
Net investment and interest income, were as follows:
2007 2006 2005
Fixed maturities $ 52,714 $ 39,918 $ 41,594
Real estate 609 6,593 12,836
Insurance policy loans 280 309 160
Mortgage loans 4,570 5,788 6,312
Short-term, amounts held by ceding reinsurers,
net and other investments 6,616 5,253 (2,442)
Investment income 64,789 57,861 58,460
Less: investment expenses (894) (2,422) (3,154)
Less: interest credited on annuity policies (15,060) (16,888) (20,509)
Investment income - Related party 12,258 14,543 21,942
Net investment and interest income $ 61,093 $ 53,094 $ 56,739
Year Ended March 31,
(In thousands)
Note 9: Borrowings
Long-Term Debt
Long-term debt was as follows:
2007 Rate (a) Maturities 2007 2006
Real estate loan (amortizing term) 6.93% 2018 $ 295,000 $ 242,585
Real estate loan (revolving credit) - 2018 - -
Senior mortgages 5.47% - 5.75% 2015 521,332 531,309
Mezzanine loan (floating) (b) - - - 19,393
Construction loan (revolving credit) - 2009 - -
Working capital loan (revolving credit) - 2008 - -
Fleet loans (amortizing term) 6.11% - 7.42% 2012-2014 364,833 82,347
Fleet loan (revolving credit) - 2011 - 90,000
Total AMERCO notes and loans payable $ 1,181,165 $ 965,634
(a) Interest rate as of March 31, 2007, including the effect of applicable hedging instruments
(b) Paid in full on August 30, 2006
(In thousands)
March 31,
F-21