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)
(MORE TO FOLLOW) Dow Jones Newswires
February 05, 2025 16:10 ET (21:10 GMT)
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