Company Overview - U-Haul has a dual share class structure with UHAL.B shares prioritizing dividends and UHAL shares having voting rights[12,13,16,17] - The Shoen family controls a significant portion of both UHAL.B (43.2%) and UHAL (50.1%) shares[18,19] - U-Move accounts for 68% of the trailing twelve-month (TTM) revenue, while Self-Storage accounts for 16%[21] Financial Performance - Self-moving equipment rental revenues increased by $29 million, or 4%, in the fourth quarter of fiscal year 2025 compared to the same period in 2024[33] Excluding an extra leap day, the increase would have been approximately $40 million, or 5.6%[33] - Self-storage revenues increased by $17.8 million, or 8.4%, in the fourth quarter of fiscal year 2025 compared to the same period in 2024[33] - Moving and Storage EBITDA, adjusted to remove interest income, increased $5.6 million compared to the fourth quarter of fiscal year 2024[33] Expansion and Development - During fiscal year 2025, U-Haul added 82 new storage locations, resulting in 6.519 million net rentable square feet (NRSF)[33] - The company has approximately 15 million NRSF in development or pending[33] Financial Position - As of March 31, 2025, total debt was $7.229 billion and total assets were $17.522 billion, resulting in a debt-to-assets ratio of 41.1%[61,69] - Net leverage, a non-GAAP measure, was 3.9x as of March 31, 2025[61]