U-Haul 2011 Annual Report Download - page 83

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AMERCO AND CONSOLIDATED SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS -- (CONTINUED)
Outstanding as of
Financing Date March 31, 2011 2011 2010 2009
June, 1991 $ 5,026 $ 386 $ 443 $ 560
March, 1999 - - 1 2
February, 2000 - 6 12 19
April, 2001 87 9 8 7
July, 2009 316 5 - -
Interest Payments
(In thousands)
Shares are released from collateral and allocated to active employees based on the proportion of debt
service paid in the plan year. Contributions to the Plan Trust during fiscal 2011, 2010 and 2009 were $2.1
million, $2.0 million and $2.1 million, respectively.
Shares held by the Plan were as follows:
2011 2010
Allocated shares 1,387 1,431
Unreleased shares 194 269
Fair value of unreleased shares $ 16,252 $ 12,114
Years Ended March 31,
(In thousands)
For purposes of the schedule on the previous page, the fair value of unreleased shares issued prior to 1992
is defined as the historical cost of such shares. The fair value of unreleased shares issued subsequent to
December 31, 1992 is defined as the trading value of such shares as of March 31, 2011 and March 31, 2010,
respectively.
Post Retirement and Post Employment Benefits
The Company provides medical and life insurance benefits to its eligible employees and their dependents
upon retirement from the Company. The retirees must have attained age sixty-five and earned twenty years of
full-time service upon retirement for coverage under the medical plan. The medical benefits are capped at a
$20,000 lifetime maximum per covered person. The benefits are coordinated with Medicare and any other
medical policies in force. Retirees who have attained age sixty-five and earned at least ten years of full-time
service upon retirement from the Company are entitled to group term life insurance benefits. The life insurance
benefit is $2,000 plus $100 for each year of employment over ten years. The plan is not funded and claims are
paid as they are incurred. The Company uses a March 31 measurement date for its post retirement benefit
disclosures.
The components of net periodic post retirement benefit cost were as follows:
2011 2010 2009
Service cost for benefits earned during the period $ 462 $ 420 $ 411
Interest cost on accumulated postretirement benefit 567 603 537
Other components (39) (104) (93)
Net periodic postretirement benefit cost $ 990 $ 919 $ 855
Years Ended March 31,
(In thousands)
F-27