stockholders        $            67,166         $             99,224 
Voting Common 
Stock dividends 
declared                              --                           -- 
Non-Voting Common 
 Stock dividends 
 declared                         (8,824)                      (8,823) 
                        ----------------   ---      ----------------- 
Undistributed 
 earnings 
 available to 
 common 
 stockholders        $            58,342         $             90,401 
                        ----------------  ----      -----------------  --- 
Undistributed 
 earnings 
 available to 
 common 
 stockholders 
 allocated to 
 Voting Common 
 Stock               $             5,834         $              9,040 
 
Undistributed 
 earnings per 
 share of Voting 
 Common Stock        $              0.30         $               0.46 
Dividends 
declared per 
share of Voting 
Common Stock         $                --         $                 -- 
                        ----------------  ----      -----------------  --- 
Basic and diluted 
 earnings per 
 share of Voting 
 Common Stock        $              0.30         $               0.46 
                        ----------------  ----      -----------------  --- 
 
 
Weighted average 
 shares 
 outstanding of 
 Non-Voting Common 
 Stock                       176,470,092                  176,470,092 
Total weighted 
 average shares 
 outstanding for 
 Voting Common 
 Stock and 
 Non-Voting Common 
 Stock                       196,077,880                  196,077,880 
Percent of 
 weighted average 
 shares 
 outstanding of 
 Non-Voting Common 
 Stock                                90%                          90% 
 
Net earnings 
 available to 
 common 
 stockholders        $            67,166         $             99,224 
Voting Common 
Stock dividends 
declared                              --                           -- 
Non-Voting Common 
 Stock dividends 
 declared                         (8,824)                      (8,823) 
                        ----------------   ---      ----------------- 
Undistributed 
 earnings 
 available to 
 common 
 stockholders        $            58,342         $             90,401 
                        ----------------  ----      -----------------  --- 
Undistributed 
 earnings 
 available to 
 common 
 stockholders 
 allocated to 
 Non-Voting Common 
 Stock               $            52,508         $             81,361 
 
Undistributed 
 earnings per 
 share of 
 Non-Voting Common 
 Stock               $              0.30         $               0.46 
Dividends declared 
 per share of 
 Non-Voting Common 
 Stock               $              0.05         $               0.05 
                        ----------------  ----      -----------------  --- 
Basic and diluted 
 earnings per 
 share of 
 Non-Voting Common 
 Stock               $              0.35         $               0.51 
                        ----------------  ----      -----------------  --- 
 
 
                                  For the Nine Months Ended 
                    ------------------------------------------------------ 
                                         December 31, 
                    ------------------------------------------------------ 
                               2024                        2023 
                    --------------------------  -------------------------- 
                                         (Unaudited) 
                      (In thousands, except share and per share amounts) 
 
Weighted average 
 shares 
 outstanding of 
 Voting Common 
 Stock                        19,607,788                   19,607,788 
Total weighted 
 average shares 
 outstanding for 
 Voting Common 
 Stock and 
 Non-Voting Common 
 Stock                       196,077,880                  196,077,880 
Percent of 
 weighted average 
 shares 
 outstanding of 
 Voting Common 
 Stock                                10%                          10% 
 
Net earnings 
 available to 
 common 
 stockholders        $           449,381         $            629,570 
Voting Common 
Stock dividends 
declared                              --                           -- 
Non-Voting Common 
 Stock dividends 
 declared                        (26,471)                     (22,941) 
                        ----------------   ---      ----------------- 
Undistributed 
 earnings 
 available to 
 common 
 stockholders        $           422,910         $            606,629 
                        ----------------  ----      -----------------  --- 
Undistributed 
 earnings 
 available to 
 common 
 stockholders 
 allocated to 
 Voting Common 
 Stock               $            42,291         $             60,663 
 
Undistributed 
 earnings per 
 share of Voting 
 Common Stock        $              2.16         $               3.09 
Dividends 
declared per 
share of Voting 
Common Stock         $                --         $                 -- 
                        ----------------  ----      -----------------  --- 
Basic and diluted 
 earnings per 
 share of Voting 
 Common Stock        $              2.16         $               3.09 
                        ----------------  ----      -----------------  --- 
 
 
Weighted average 
 shares 
 outstanding of 
 Non-Voting Common 
 Stock                       176,470,092                  176,470,092 
Total weighted 
 average shares 
 outstanding for 
 Voting Common 
 Stock and 
 Non-Voting Common 
 Stock                       196,077,880                  196,077,880 
Percent of 
 weighted average 
 shares 
 outstanding of 
 Non-Voting Common 
 Stock                                90%                          90% 
 
Net earnings 
 available to 
 common 
 stockholders        $           449,381         $            629,570 
Voting Common 
Stock dividends 
declared                              --                           -- 
Non-Voting Common 
 Stock dividends 
 declared                        (26,471)                     (22,941) 
                        ----------------   ---      ----------------- 
Undistributed 
 earnings 
 available to 
 common 
 stockholders        $           422,910         $            606,629 
                        ----------------  ----      -----------------  --- 
Undistributed 
 earnings 
 available to 
 common 
 stockholders 
 allocated to 
 Non-Voting Common 
 Stock               $           380,619         $            545,966 
 
Undistributed 
 earnings per 
 share of 
 Non-Voting Common 
 Stock               $              2.16         $               3.09 
Dividends declared 
 per share of 
 Non-Voting Common 
 Stock               $              0.15         $               0.13 
                        ----------------  ----      -----------------  --- 
Basic and diluted 
 earnings per 
 share of 
 Non-Voting Common 
 Stock               $              2.31         $               3.22 
                        ----------------  ----      -----------------  --- 
 

NON-GAAP FINANCIAL RECONCILIATION SCHEDULE

As of April 1, 2019, we adopted the new accounting standard for leases. Part of this adoption resulted in approximately $1 billion of property, plant and equipment, net ("PPE") being reclassed to Right of use assets - financing, net ("ROU-financing"). The tables below show adjusted PPE as of December 31, 2024 and March 31, 2024, by including the ROU-financing. The assets included in ROU-financing are not a true book value as some of the assets are recorded at between 70% and 100% of value based on the lease agreement. This non-GAAP measure is intended as a supplemental measure of our balance sheet that is neither required by, nor presented in accordance with, GAAP. We believe that the use of this non-GAAP measure provides an additional tool for investors to use in evaluating our financial condition. This non-GAAP measure should not be considered in isolation or as a substitute for other measures calculated in accordance with GAAP.

 
                                             December 31,       March 31, 
                                                 2024             2024 
                                            ---------------  --------------- 
                                            Property, Plant  Property, Plant 
                  December 31,  ROU Assets   and Equipment    and Equipment 
                      2024      Financing      Adjusted         Adjusted 
                  ------------  ----------  ---------------  --------------- 
                                         (Unaudited) 
                                        (In thousands) 
 
Property, plant 
 and equipment, 
 at cost 
  Land            $ 1,822,497   $       -   $ 1,822,497      $ 1,670,033 
  Buildings and 
   improvements     9,305,846           -     9,305,846        8,237,354 
  Furniture and 
   equipment        1,036,203          61     1,036,264        1,003,831 
  Rental 
   trailers and 
   other rental 
   equipment        1,032,132      66,083     1,098,215        1,050,910 
  Rental trucks     7,347,053     388,528     7,735,581        6,945,845 
                   ----------    --------    ----------       ---------- 
     Subtotal      20,543,731     454,672    20,998,403       18,907,973 
  Less: 
   Accumulated 
   depreciation    (5,668,514)   (285,855)   (5,954,369)      (5,484,016) 
                   ----------    --------    ----------       ---------- 
     Total 
      property, 
      plant and 
      equipment, 
      net         $14,875,217   $ 168,817   $15,044,034      $13,423,957 
                   ==========    ========    ==========       ========== 
 
 
                                                  March 31, 
                                                    2024 
                                             ------------------- 
                                             Property, Plant and 
                    March 31,    ROU Assets       Equipment 
                       2024      Financing        Adjusted 
                   ------------  ----------  ------------------- 
                                    (Unaudited) 

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