U-Haul 2009 Annual Report Download - page 22

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Moving and Storage Operating Segment
Our Moving and Storage Operating Segment consists of the rental of trucks, trailers, specialty rental items and
self-storage spaces primarily to the household mover as well as sales of moving supplies, towing accessories and
propane. Operations are conducted under the registered trade name U-Haul® throughout the United States and
Canada.
With respect to our truck, trailer, specialty rental items and self-storage rental business, we are focused on
expanding our dealer network, which provides added convenience for our customers and expanding the selection
and availability of rental equipment to satisfy the needs of our customers.
U-Haul brand self-moving related products and services, such as boxes, pads and tape allow our customers to,
among other things, protect their belongings from potential damage during the moving process. We are committed
to providing a complete line of products selected with the “do-it-yourself” moving and storage customer in mind.
eMove is an online marketplace that connects consumers to over 3,900 independent Moving Help™ service
providers and over 4,200 independent Self-Storage Affiliates. Our network of customer-rated affiliates provides
pack and load help, cleaning help, self-storage and similar services, all over North America. Our goal is to further
utilize our web-based technology platform to increase service to consumers and businesses in the moving and
storage market.
For more than sixty years, U-Haul has incorporated sustainable practices into its everyday operations. Our basic
business premise of truck-sharing helps reduce greenhouse gas emissions and reduces the need for total large-
capacity vehicles. Today, we remain focused on reducing waste and are dedicated to manufacturing reusable
components and recyclable products. This commitment to sustainability, through our products and services, has
helped us to reduce any negative impact on the environment.
Property and Casualty Insurance Operating Segment
Our Property and Casualty Insurance provides loss adjusting and claims handling for U-Haul through regional
offices across North America. Property and Casualty Insurance also underwrites components of the Safemove,
Safetow and Safestor protection packages to U-Haul customers. We continue to focus on increasing the penetration
of these products into the market. The business plan for Property and Casualty Insurance includes offering property
and casualty products in other U-Haul related programs.
Life Insurance Operating Segment
Our Life Insurance provides life and health insurance products primarily to the senior market through the direct
writing or reinsuring of life insurance, Medicare supplement and annuity policies. Additionally, Oxford
administered the self-insured employee health and dental plans for Arizona employees of the Company through
December 31, 2008.
SAC Holding II Operating Segment
SAC Holding II owns self-storage properties that are managed by U-Haul under property management agreements
and act as independent U-Haul rental equipment dealers. AMERCO, through its subsidiaries, has contractual
interests in certain SAC Holding II properties entitling AMERCO to potential future income based on the financial
performance of these properties. AMERCO was considered the primary beneficiary of these contractual interests
prior to November 2007. Consequently, for those reporting periods prior to November 2007, we included the results
of SAC Holding II in the consolidated financial statements of AMERCO, as required by FIN 46(R). While the
deconsolidation affects AMERCO’s financial reporting, it has no operational or financial impact on the Company’s
relationship with SAC Holding II. Refer to Principles of Consolidation within Item 7 Management’s Discussion and
Analysis of Financial Condition and Results of Operations.
Critical Accounting Policies and Estimates
The Company’s financial statements have been prepared in accordance with the generally accepted accounting
principles (“GAAP”) in the United States. The methods, estimates and judgments we use in applying our accounting
policies can have a significant impact on the results we report in our financial statements. Note 3 Accounting
Policies of the Notes to Consolidated Financial Statements in Item 8: Financial Statements and Supplementary Data
of this Form 10-K summarizes the significant accounting policies and methods used in the preparation of our
consolidated financial statements and related disclosures. Certain accounting policies require us to make difficult
and subjective judgments and assumptions, often as a result of the need to estimate matters that are inherently
uncertain.