U-Haul Holding Co. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>U-Haul Holding Co. filed its Q3 2023 10-Q report detailing financial positions and activities.</b>

AI Summary

U-Haul Holding Co /NV/ (UHAL-B) filed a Quarterly Report (10-Q) with the SEC on February 7, 2024. U-Haul Holding Co. filed a 10-Q report for the period ending December 31, 2023. The filing covers the third quarter of their fiscal year. The company is incorporated in Nevada (NV). The filing includes data related to various financial instruments and accounts, such as common stock, treasury stock, and debt. Specific financial elements like accumulated net unrealized investment gain/loss and retained earnings are detailed for different periods.

Why It Matters

For investors and stakeholders tracking U-Haul Holding Co /NV/, this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial performance and position of U-Haul Holding Co. The detailed breakdown of assets, liabilities, and equity offers insights into the company's financial health and operational status.

Risk Assessment

Risk Level: medium — U-Haul Holding Co /NV/ shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q), which typically contains a mix of positive and negative financial information, making the overall sentiment neutral. Specific financial details require deeper analysis to determine a more precise sentiment.

Analyst Insight

Review the detailed financial statements within the 10-Q to understand revenue trends, profitability, and debt levels for Q3 2023.

Key Numbers

• 20231231 — Conformed Period of Report (Fiscal quarter end date)
• 20240207 — Filed As Of Date (Date the report was filed)
• 0331 — Fiscal Year End (Company's fiscal year end month and day)
• 7510 — Standard Industrial Classification (SIC code for Auto Rental & Leasing)

Key Players & Entities

• U-Haul Holding Co /NV/ (company) — Filer name
• NV (location) — State of incorporation
• 20231231 (date) — Conformed period of report
• 20240207 (date) — Filed as of date
• AMERCO /NV/ (company) — Former company name

Forward-Looking Statements

• The increase in common stock outstanding will lead to a slight dilution in earnings per share for the next reporting period. (U-Haul Holding Co /NV/) — medium confidence, target: 2024-03-31

FAQ

Industry Context

U-Haul Holding Co. operates in the auto rental and leasing industry, providing services related to moving and storage.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures to the SEC.

What Investors Should Do

1. Analyze the balance sheet for changes in assets, liabilities, and equity compared to prior periods.
2. Review the income statement for revenue, expenses, and net income trends.
3. Examine the cash flow statement to understand the company's cash generation and usage.

Key Dates

• 2023-12-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-02-07: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides investors with a timely update on the company's financial condition and performance.)

Conformed Period of Report

The specific period that the financial statements in the report cover. (Indicates the end date of the financial reporting period, crucial for understanding the data's timeliness.)

Year-Over-Year Comparison

This is a standard 10-Q filing for the specified period. Specific comparative data from the previous filing (e.g., 10-Q for Q2 2023 or 10-K for FY 2023) would be needed to assess changes.

Key Financial Figures

• $0.25 — nge on which registered Common Stock, $0.25 par value UHAL New York Stock Excha
• $0.001 — nge Series N Non-Voting Common Stock, $0.001 par value UHAL.B New York Stock Exc

Filing Documents

• uhal-20231231.htm (10-Q) — 7574KB
• uhal-ex31_1.htm (EX-31.1) — 13KB
• uhal-ex31_2.htm (EX-31.2) — 13KB
• uhal-ex32_1.htm (EX-32.1) — 12KB
• uhal-ex32_2.htm (EX-32.2) — 12KB
• img152437933_0.jpg (GRAPHIC) — 29KB
• 0000950170-24-012196.txt (&nbsp;) — 26665KB
• uhal-20231231.xsd (EX-101.SCH) — 1963KB
• uhal-20231231_htm.xml (XML) — 7048KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 1 a) Consolidated Balance Sheets as of December 31, 2023 and March 31, 2023 (unaudited) 1 b) Consolidated Statements of Operations for the Quarters Ended December 31, 2023 and 2022 (unaudited) 2 c) Consolidated Statements of Operations for the Nine Months Ended December 31, 2023 and 2022 (unaudited) 3 d) Consolidated Statements of Comprehensive Income (Loss) for the Quarters and Nine Months Ended December 31, 2023 and 2022 (unaudited) 4 e) Consolidated Statements of Changes in Stockholders' Equity for the Quarters Ended December 31, 2023 and 2022 (unaudited) 5 f) Consolidated Statements of Changes in Stockholders' Equity for the Nine Months Ended December 31, 2023 and 2022 (unaudited) 6 g) Consolidated Statements of Cash Flows for the Nine Months Ended December 31, 2023 and 2022 (unaudited) 7 h) Notes to Consolidated Financial Statements (unaudited) 8 Item 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 46 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 74 Item 4.

Controls and Procedures

Controls and Procedures 76

OTHER INFORMATION

PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 77 Item 1A.

Risk Factors

Risk Factors 77 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 78 Item 3. Defaults Upon Senior Securities 78 Item 4. Mine Safety Disclosures 78 Item 5. Other Information 78 Item 6. Exhibits 78

Finan cial information

Part i Finan cial information

Finan cial Statements

Item 1. Finan cial Statements U-HAUL HOLDING COMPANY AND CONSOLIDATED SUBSIDIARIES CONSOLIDATE D balance sheets December 31, March 31, 2023 2023 (Unaudited) (In thousands, except share data) ASSETS Cash and cash equivalents $ 1,805,976 $ 2,060,524 Trade receivables and reinsurance recoverables, net 195,930 189,498 Inventories and parts 155,161 151,474 Prepaid expenses 240,525 241,711 Fixed maturity securities available-for-sale (net of allowance for credit loss of $ 1,704 and $ 2,101 , respectively) at fair market value and amortized cost ($ 2,816,481 and $ 3,006,587 , respectively) 2,474,624 2,709,037 Equity securities, at estimated fair value 59,675 61,357 Investments, other 660,253 575,540 Deferred policy acquisition costs, net 120,834 128,463 Other assets 52,807 51,052 Right of use assets - financing, net 326,244 474,765 Right of use assets - operating, net 65,361 58,917 Related party assets 48,766 48,308 6,206,156 6,750,646 Property, plant and equipment, at cost: Land 1,649,346 1,537,206 Buildings and improvements 7,943,232 7,088,810 Furniture and equipment 983,683 928,241 Rental trailers and other rental equipment 927,038 827,696 Rental trucks 6,183,293 5,278,340 17,686,592 15,660,293 Less: Accumulated depreciation ( 4,890,172 ) ( 4,310,205 ) Total property, plant and equipment, net 12,796,420 11,350,088 Total assets $ 19,002,576 $ 18,100,734 LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities: Accounts payable and accrued expenses $ 729,344 $ 761,039 Notes, loans and finance leases payable, net 6,437,309 6,108,042 Operating lease liabilities 64,542 58,373 Policy benefits and losses, claims and loss expenses payable 838,945 880,202 Liabilities from investment contracts 2,363,143 2,398,884 Other policyholders' funds and liabilities 8,012 8,232 Deferred income

View Full Filing

View this 10-Q filing on SEC EDGAR