U-Haul 2004 Annual Report Download - page 74

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AMERCO AND CONSOLIDATED ENTITIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Ì (Continued)
In December 2003, the FASB issued SFAS No. 132 (Revised 2003), Employers' Disclosures about
Pensions and Other Post-retirement BeneÑts and Amendment of FASB Statements No. 87, 88 and 106. This
Statement revises employers' disclosures about pension plans and other post-retirement beneÑt plans. The
disclosures required by this Statement are eÅective for Ñscal years ending after December 15, 2003. The
Company has incorporated these expanded disclosures into the notes to the Ñnancial statements.
Note 4: Earnings Per Share
Net income for purposes of computing earnings per common share is net income minus preferred stock
dividends. Preferred stock dividends include accrued dividends of AMERCO.
The shares used in the computation of the company's basic and diluted earnings per common share were
as follows:
Years Ended March 31,
2004 2003 2002
Basic and diluted loss per common share ÏÏÏÏÏÏÏÏÏÏ $ (0.76) $ (1.82) $ (2.87)
Weighted average common share outstanding:
Basic and diluted ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 20,749,998 20,824,618 21,063,720
The weighted average common shares outstanding exclude post-1992 shares of the employee stock
ownership plan that have not been committed to be released as of March 31, 2004, 2003, and 2002.
6,100,000 shares of preferred stock have been excluded from the weighted average shares outstanding
calculation because they are not common stock equivalents.
Note 5: Trade Receivables, Net
Trade receivables at Ñscal year-ends were as follows:
March 31,
2004 2003
(In thousands)
Reinsurance recoverable ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $180,480 $150,681
Premiums and agents' balances ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 9,091 40,401
Trade accounts receivable ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 5,080 3,694
Accrued investment income ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 9,645 10,554
Independent dealer receivable ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 1,054 1,152
Other receivable ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 65,048 70,803
270,398 277,285
Less allowance for doubtful accounts ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ (2,012) (2,283)
$268,386 $275,002
F-13