U-Haul 2004 Annual Report Download - page 9

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independent service providers to help movers pack, load, clean, drive, unload and more. Thousands of service
providers are already in place. Through the eMove Storage AÇliate Program, independent storage businesses
can join the world's largest storage reservation system. Self-storage customers making a reservation through
eMove can access all of the U-Haul self-storage centers and all U-Haul storage aÇliate partners for even
greater convenience to meet their self-storage needs.
Additionally, we oÅer moving and storage protection packages such as Safemove and Safetow, protecting
moving and towing customers with a damage waiver, cargo protection and medical and life coverage, and
Safestor, protecting storage customers from loss on their goods in storage.
Description of Operating Segments
AMERCO has three reportable segments and Ñve identiÑable segments. The three reportable segments
are Moving and Self-Storage, Property and Casualty Insurance and Life Insurance. The Ñve identiÑable
segments include U-Haul moving and storage, Real Estate, and SAC moving and storage, which are
separately listed under the reportable segment Moving and Self-Storage. The remaining identiÑable segments
are Property and Casualty Insurance and Life Insurance. (See Note 2 to the Notes to Consolidated Financial
Statements, Principles of Consolidation.)
Moving and Self-Storage
U-Haul manages the Company's moving and self-storage business. Our ""do-it-yourself'' moving business
consists of U-Haul truck and trailer rentals and U-Haul moving supply and service sales. Our self-storage
business consists of U-Haul self-storage room rentals, self-storage related product and service sales and
management of non-owned self-storage facilities. Amerco Real Estate develops and owns certain of the
storage properties and retail centers that are operated by U-Haul. SAC Holding I and its subsidiaries and
SAC Holding II and its subsidiaries (collectively referred to as ""SAC Holdings'') own self-storage properties
that are managed by U-Haul. AMERCO has a variable interest in certain of SAC Holdings properties
entitling AMERCO to potential future income based on the Ñnancial performance of these properties. As a
result, AMERCO is considered the primary beneÑciary of certain variable interests in SAC Holdings and we
include the results of those variable interest entities in the consolidated Ñnancial statements of AMERCO, as
required by FIN 46R.
Net revenue for the Moving and Self-Storage operating segment made up approximately 87% of
consolidated net revenue in 2004. Revenue from the rental and sale of self moving related products and
services within the Self Moving and Storage operating segment represented approximately 72% of consoli-
dated net revenue in 2004.
Self Moving
Within our truck and trailer rental operation, we continue to focus on expanding our dealer network
which provides added convenience for our customers. A U-Haul dealer is an independent commissioned
agent, generally renting U-Haul products in conjunction with another primary business. A U-Haul dealer is
most often an owner-operator. U-Haul strives to continually improve the dealer program to make attractive for
the dealer.
At our retail centers we have implemented several customer service initiatives. These initiatives included
improving management of our rental equipment to provide our retail centers with the right type of rental
equipment, at the right time and at the most convenient location for our customers, eÅective marketing of our
broad line of self-moving related products and services, maintaining hours of operation to provide convenience
to our customers, and increasing staÅ by attracting and retaining ""moonlighters'' (moonlighters are part-time
U-Haul employees with full-time jobs elsewhere) during our peak hours of operation.
We believe our reservation and scheduling system enables us to provide more of the right equipment, at
the right time and at the right location to meet seasonal demand Öuctuations. We plan to further enhance this
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