U-Haul 2011 Annual Report Download - page 106

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AMERCO AND CONSOLIDATED SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS -- (CONTINUED)
F-50
Consolidating cash flow statements by industry segment for the year ended March 31, 2010, are as follows:
AMERCO U-Haul Real Estate Elimination
Moving &
Storage
Consolidated
Property &
Casualty
Insurance (a)
Life
Insurance (a) Elimination
AMERCO
Consolidated
Cash flows from operating activities:
Net earnings (loss) 65,730$ (19,556)$ 11,942$ 7,614$ 65,730$ 4,483$ 10,339$ (14,929)$ 65,623$
Earnings from consolidated subsidiaries (7,208) - - (7,614) (14,822) - - 14,822 -
Adjustments to reconcile net earnings to cash provided by operations:
Depreciation 17 216,685 12,887 - 229,589 - - - 229,589
Amortization of deferred policy acquisition costs - - - - - - 7,569 - 7,569
Change in allowance for losses on trade receivables - (158) - - (158) - (5) - (163)
Change in allowance for losses on mortgage notes - (6) - - (6) - - - (6)
Change in allowance for inventory reserve - 1,153 - - 1,153 - - - 1,153
Net (gain) loss on sale of real and personal propert
y
- (2,060) 100 - (1,960) - - - (1,960)
Net loss on sale of investments - - - - - 710 (378) - 332
Deferred income taxes 7,828 - - - 7,828 1,876 5,793 - 15,497
Net change in other operating assets and liabilities:
Reinsurance recoverables and trade receivables - 625 31 - 656 16,793 (1,734) - 15,715
Inventories - 16,759 - - 16,759 - - - 16,759
Prepaid expenses 1,129 (304) (3) - 822 - - - 822
Capitalization of deferred policy acquisition costs - - - - - - (13,934) - (13,934)
Other assets 5,187 28,076 1,573 - 34,836 (65) (145) - 34,626
Related party assets 665 899 34 - 1,598 771 - - 2,369
Accounts payable and accrued expenses 11,604 (7,188) (3,305) - 1,111 - (4,207) - (3,096)
Policy benefits and losses, claims and loss expenses payable - 24,228 - - 24,228 (16,011) 26,372 - 34,589
Other policyholders' funds and liabilities - - - - - (4,167) 362 - (3,805)
Deferred income - 396 - - 396 - - - 396
Related party liabilities - (62) - - (62) (742) 77 - (727)
Net cash provided (used) by operating activities 84,952 259,487 23,259 - 367,698 3,648 30,109 (107) 401,348
Cash flows from investing activities:
Purchases of:
Property, plant and equipment (3) (233,136) (26,352) - (259,491) - - - (259,491)
Short term investments - - - - - (130,977) (191,689) - (322,666)
Fixed maturities investments - - - - - (37,071) (112,675) - (149,746)
Equity securities (17,745) - - - (17,745) (70) - - (17,815)
Preferred stock - - - - - (2,185) - - (2,185)
Real estate - (1,752) - - (1,752) - (558) - (2,310)
Mortgage loans - - - - - (1,364) (137) - (1,501)
Proceeds from sales of:
Property, plant and equipment - 141,788 1,081 - 142,869 - - - 142,869
Short term investments - - - - - 139,593 179,665 - 319,258
Fixed maturities investments - - - - - 31,719 131,935 - 163,654
Preferred stock - - - - - 4,061 1,016 - 5,077
Real estate - - 707 - 707 64 - - 771
Mortgage loans - - - - - 75 6,032 - 6,107
Net cash provided (used) by investing activities (17,748) (93,100) (24,564) - (135,412) 3,845 13,589 - (117,978)
(a) Balance for the period ended December 31, 2009
Moving & Storage
(In thousands)
AMERCO Legal Group
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