U-Haul 2011 Annual Report Download - page 80

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AMERCO AND CONSOLIDATED SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS -- (CONTINUED)
Note 13: Comprehensive Income (Loss)
A summary of accumulated other comprehensive income (loss) components, net of taxes, were as follows:
Foreign
Currency
Translation
Unrealized
Gain (Loss)
on
Investments
Fair Market
Value of
Cash Flow
Hedge
Postretirement
Benefit Obligation
Gain (Loss)
A
ccumulated
Other
Comprehensive
Income (Loss)
Balance at March 31, 2008 $ (27,583) $ 1,591 $ (30,578) $ 1,291 $ (55,279)
Foreign currency translation (16,030) - - - (16,030)
Unrealized loss on investments - (8,914) - - (8,914)
Change in fair value of cash flow hedge - - (17,833) - (17,833)
Change in postretirement benefit obligation - - - 56 56
Balance at March 31, 2009 (43,613) (7,323) (48,411) 1,347 (98,000)
Foreign currency translation 14,471 - - - 14,471
Unrealized gain on investments - 13,254 - - 13,254
Change in fair value of cash flow hedge - - 14,478 - 14,478
Change in postretirement benefit obligation - - - (410) (410)
Balance at March 31, 2010 (29,142) 5,931 (33,933) 937 (56,207)
Foreign currency translation 3,114 - - - 3,114
Unrealized gain on investments - 4,930 - - 4,930
Change in fair value of cash flow hedge - - 1,495 - 1,495
Change in postretirement benefit obligation - - - 201 201
Balance at March 31, 2011 $ (26,028) $ 10,861 $ (32,438) $ 1,138 $ (46,467)
(In thousands)
Note 14: Provision for Taxes
Earnings before taxes and the provision for taxes consisted of the following:
2011 2010 2009
Pretax earnings:
U.S. $ 270,695 $ 89,350 $ 18,254
Non-U.S. 18,619 10,840 4,324
Total pretax earnings $ 289,314 $ 100,190 $ 22,578
Current provision (benefit)
Federal $ 14,784 $ (23,965) $ 5,202
State 7,475 1,965 1,436
Non-U.S. 3,861 34 (31)
26,120 (21,966) 6,607
Deferred provision (benefit)
Federal 70,653 53,174 149
State 7,300 3,472 1,387
Non-U.S. 1,666 (113) 1,025
79,619 56,533 2,561
Provision for income tax expense $ 105,739 $ 34,567 $ 9,168
Income taxes paid (net of income tax refunds received) $ 14,265 $ 1,558 $ 2,037
Years Ended March 31,
(In thousands)
F-24