U-Haul 2009 Annual Report Download - page 9

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5
Our self-storage business consists of the rental of self-storage rooms, sales of self-storage related products, the
facilitation of sales of services, and the management of self-storage facilities owned by others.
U-Haul is one of the largest North American operators of self-storage and has been a leader in the self-storage
industry since 1974. U-Haul operates over 395,000 storage rooms, comprising approximately 35 million square feet
of storage space with locations in 49 states and 10 Canadian provinces. U-Haul’s owned and managed self-storage
facility locations range in size up to 171,500 square feet of storage space, with individual storage units in sizes
ranging from 6 square feet to over 1,000 square feet.
The primary market for storage rooms is the storage of household goods. We believe that our self-storage services
provide a competitive advantage through such things as Max Security, an electronic system that monitors the storage
facility 24 hours a day; climate control; individually alarmed rooms; extended hour access; and an internet-based
customer reservation and account management system.
eMove is an online marketplace that connects consumers to over 3,900 independent Moving Help™ service
providers and over 4,200 independent Self-Storage Affiliates. Our network of customer-rated affiliates provides
pack and load help, cleaning help, self-storage and similar services. Our goal is to further utilize our web based
technology platform to increase service to consumers and businesses with needs in the moving and storage market.
For more than sixty years, U-Haul has incorporated sustainable practices into its everyday operations. Our basic
business premise of truck-sharing helps reduce greenhouse gas emissions and reduces the need for total large-
capacity vehicles. Today, we remain focused on reducing waste and are dedicated to manufacturing reusable
components and recyclable products. This commitment to sustainability, through our products and services, has
helped us to reduce negative impacts on the environment.
Property and Casualty Insurance Operating Segment
Our Property and Casualty Insurance provides loss adjusting and claims handling for U-Haul through regional
offices across North America. Property and Casualty Insurance also underwrites components of the Safemove,
Safetow and Safestor protection packages to U-Haul customers. We continue to focus on increasing the penetration
of these products. The business plan for Property and Casualty Insurance includes offering property and casualty
products in other U-Haul related programs.
Net revenue from our Property and Casualty Insurance operating segment was approximately 1.8%, 1.9% and
1.8% of consolidated net revenue in fiscal 2009, 2008 and 2007, respectively.
Life Insurance Operating Segment
Our Life Insurance provides life and health insurance products primarily to the senior market through the direct
writing or reinsuring of life insurance, Medicare supplement and annuity policies. Additionally, Oxford
administered the self-insured employee health and dental plans for Arizona employees of the Company through
December 31, 2008.
Net revenue from our Life Insurance operating segment was approximately 6.8%, 6.7% and 7.0% of consolidated
net revenue in fiscal 2009, 2008 and 2007, respectively.
SAC Holding II Operating Segment
SAC Holding II owns self-storage properties that are managed by U-Haul under property management agreements
and also act as independent U-Haul rental equipment dealers. AMERCO, through its subsidiaries, has contractual
interests in certain SAC Holding II properties entitling AMERCO to potential future income based on the financial
performance of these properties. Prior to November 2007, AMERCO was considered the primary beneficiary of
these contractual interests. Consequently, for those reporting periods prior to November 2007, we included the
results of SAC Holding II in the consolidated financial statements of AMERCO, as required by Financial
Accounting Standards Board (“FASB”) Interpretation No. 46(R) (“FIN 46(R)”), Consolidation of Variable Interest
Entities. While the deconsolidation affects AMERCO’s financial reporting, it has no operational or financial impact
on the Company’s relationship with SAC Holding II.
Net revenue from our SAC Holding II operating segment was approximately 0.8% and 1.3% of consolidated net
revenue in fiscal 2008 and 2007, respectively. Refer to Principles of Consolidation within Item 7 Management’s
Discussion and Analysis of Financial Condition and Results of Operations for more information related to the
deconsolidation of SAC Holding II.