U-Haul 2008 Annual Report Download - page 82

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AMERCO AND CONSOLIDATED ENTITIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS -- (CONTINUED)
Note 12: Comprehensive Income (Loss)
A summary of accumulated other comprehensive income (loss) components were as follows, net of tax:
Foreign
Currency
Translation
Unrealized
Gain (Loss)
on Investments
Fair Market
Value of
Cash Flow
Hedge
Postretirement
Benefit Obligation
Gain (Loss)
Accumulated
Other
Comprehensive
Income (Loss)
Balance at March 31, 2005 $ (33,344) $ 8,685 $ 47 $ - $ (24,612)
Foreign currency translation (903) - - - (903)
Unrealized loss on investments - (7,968) - - (7,968)
Change in fair value of cash flow hedge - - 4,581 - 4,581
Balance at March 31, 2006 (34,247) 717 4,628 - (28,902)
Foreign currency translation (1,919) - - - (1,919)
Unrealized loss on investments - (1,072) - - (1,072)
Change in fair value of cash flow hedge - - (9,733) - (9,733)
FASB statement No. 158 adjustment - - - (153) (153)
Balance at March 31, 2007 (36,166) (355) (5,105) (153) (41,779)
Foreign currency translation 8,583 - - - 8,583
Unrealized gain on investments - 1,946 - - 1,946
Change in fair value of cash flow hedge - - (25,473) - (25,473)
Change in postretirement benefit obligation -
- - 1,444 1,444
Balance at March 31, 2008 $ (27,583) $ 1,591 $ (30,578) $ 1,291 $ (55,279)
(In thousands)
Note 13: Provision for Taxes
Earnings (losses) before taxes and the provision for taxes consisted of the following:
2008 2007 2006
Pretax earnings (losses):
U.S. $ 100,151 $ 149,169 $ 199,847
Non-U.S. 2,151 (3,346) 426
Total pretax earnings $ 102,302 $ 145,823 $ 200,273
Provision for taxes:
Federal:
Current $ 15,441 $ 47,758 $ 49,652
Deferred 15,286 900 16,239
State:
Current 415 2,251 6,115
Deferred 1,713 5,128 6,329
Non-U.S.:
Current 873 338 439
Deferred 790 (1,105) 345
Total income tax expense $ 34,518 $ 55,270 $ 79,119
Year Ended March 31,
(In thousands)
Income taxes paid in cash amounted to $10.1 million, $74.8 million, and $43.3 million for fiscal 2008, 2007, and 2006,
respectively.
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