10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BERKSHIRE HATHAWAY INC | |||
Ticker: BRK Fiscal Year: 2011 | |||
Consolidated Statements of Earnings | |||
Period Ending Dec 31, 2011 10-K (Filed: Feb 27, 2012) | |||
| (In Millions) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | |
| Revenues: | |||
| Investment gains/losses | $ 2,182 | 4,058 | 318 |
| Other-than-temporary impairment losses on investments | (908) | (1,973) | (3,155) |
| Total revenues | 143,688 | 136,185 | 112,493 |
| Costs and expenses: | |||
| Total costs and expenses | 128,374 | 117,134 | 100,941 |
| Earnings before income taxes | 15,314 | 19,051 | 11,552 |
| Income tax expense | 4,568 | 5,607 | 3,538 |
| Earnings from equity method investments | 50 | 427 | |
| Net earnings | 10,746 | 13,494 | 8,441 |
| Less: Earnings attributable to noncontrolling interests | 492 | 527 | 386 |
| Net earnings attributable to Berkshire Hathaway | 10,254 | 12,967 | 8,055 |
| Average common shares outstanding | 1,649,891 [1] | 1,635,661 | 1,551,174 |
| Net earnings per share attributable to Berkshire Hathaway shareholders: | |||
| Financial Segments | |||
| Insurance and Other | |||
| Insurance premiums earned | 32,075 | 30,749 | 27,884 |
| Sales and service revenues | 72,803 | 67,225 | 62,555 |
| Interest, dividend and other investment income | 4,792 | 5,215 | 5,531 |
| Investment gains/losses | 1,973 | 4,044 | 358 |
| Other-than-temporary impairment losses on investments | (908) | (1,973) | (3,155) |
| Total revenues | 110,735 | 105,260 | 93,173 |
| Insurance losses and loss adjustment expenses | 20,829 | 18,087 | 18,251 |
| Life, annuity and health insurance benefits | 4,879 | 4,453 | 1,937 |
| Insurance underwriting expenses | 6,119 | 6,196 | 6,236 |
| Cost of sales and services | 59,839 | 55,585 | 52,647 |
| Selling, general and administrative expenses | 8,670 | 7,704 | 8,117 |
| Interest expense | 308 | 278 | 189 |
| Total costs and expenses | 100,644 | 92,303 | 87,377 |
| Railroad, Utilities and Energy | |||
| Operating revenues | 30,721 | 26,186 | 11,204 |
| Other | 118 | 178 | 239 |
| Total revenues | 30,839 | 26,364 | 11,443 |
| Cost of sales and operating expenses | 22,736 | 19,637 | 8,739 |
| Interest expense | 1,703 | 1,577 | 1,176 |
| Total costs and expenses | 24,439 | 21,214 | 9,915 |
| Finance and Financial Products | |||
| Interest, dividend and other investment income | 1,618 | 1,683 | 1,600 |
| Investment gains/losses | 209 | 14 | (40) |
| Derivative gains/losses | (2,104) | 261 | 3,624 |
| Other | 2,391 | 2,603 | 2,693 |
| Total revenues | 2,114 | 4,561 | 7,877 |
| Interest expense | 653 | 703 | 627 |
| Other | 2,638 | 2,914 | 3,022 |
| Total costs and expenses | 3,291 | 3,617 | 3,649 |
| Class of Stock | |||
| Class A | |||
| Net earnings per share attributable to Berkshire Hathaway shareholders | 6215 | 7928 | 5193 |
| [1] Average shares outstanding include average Class A common shares and average Class B common shares determined on an equivalent Class A common stock basis. Net earnings per common share attributable to Berkshire Hathaway shown above represents net earnings per equivalent Class A common share. Net earnings per Class B common share is equal to one-fifteen-hundredth (1/1,500) of such amount or $4.14 per share for 2011, $5.29 per share for 2010 and $3.46 per share for 2009. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BERKSHIRE HATHAWAY INC | |||
Ticker: BRK Fiscal Year: 2011 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2011 10-K (Filed: Feb 27, 2012) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | |
| Comprehensive income attributable to Berkshire Hathaway: | |||
| Net earnings | $ 10,254 | 12,967 | 8,055 |
| Other comprehensive income: | |||
| Net change in unrealized appreciation of investments | (2,146) | 5,398 | 17,607 |
| Applicable income taxes | 811 | (1,866) | (6,263) |
| Reclassification of investment appreciation in net earnings | (1,245) | (1,068) | 2,768 |
| Applicable income taxes | 436 | 374 | (969) |
| Foreign currency translation | (126) | (172) | 851 |
| Applicable income taxes | (18) | (21) | (17) |
| Prior service cost and actuarial gains/losses of defined benefit plans | (1,121) | (76) | (41) |
| Applicable income taxes | 401 | 25 | (1) |
| Other, net | 3 | 195 | (206) |
| Other comprehensive income, net | (3,005) | 2,789 | 13,729 |
| Comprehensive income attributable to Berkshire Hathaway | 7,249 | 15,756 | 21,784 |
| Comprehensive income of noncontrolling interests | 385 | 536 | 585 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BERKSHIRE HATHAWAY INC | |||
Ticker: BRK Fiscal Year: 2011 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2011 10-K (Filed: Feb 27, 2012) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | |
| Cash flows from operating activities: | |||
| Net earnings | $ 10,746 | 13,494 | 8,441 |
| Adjustments to reconcile net earnings to operating cash flows: | |||
| Investment (gains) losses and other-than-temporary impairment losses | (1,274) | (2,085) | 2,837 |
| Depreciation | 4,683 | 4,279 | 3,127 |
| Other | 811 | 255 | (149) |
| Changes in operating assets and liabilities before business acquisitions: | |||
| Losses and loss adjustment expenses | 3,063 | 1,009 | 2,165 |
| Deferred charges reinsurance assumed | (329) | 147 | (39) |
| Unearned premiums | 852 | 110 | (21) |
| Receivables and originated loans | (1,159) | (1,979) | 697 |
| Derivative contract assets and liabilities | 1,881 | (880) | (5,441) |
| Income taxes | 1,493 | 2,348 | 2,035 |
| Other assets | (1,601) | (1,070) | 2,438 |
| Other liabilities | 1,310 | 2,267 | (244) |
| Net cash flows from operating activities | 20,476 | 17,895 | 15,846 |
| Cash flows from investing activities: | |||
| Purchases of fixed maturity securities | (7,362) | (9,819) | (10,798) |
| Purchases of equity securities | (15,660) | (4,265) | (4,570) |
| Purchases of other investments | (5,000) | (7,068) | |
| Sales of fixed maturity securities | 3,353 | 5,435 | 4,338 |
| Redemptions and maturities of fixed maturity securities | 6,872 | 6,517 | 5,234 |
| Sales of equity securities | 1,518 | 5,886 | 5,626 |
| Redemptions of other investments | 12,645 | ||
| Purchases of loans and finance receivables | (1,657) | (3,149) | (854) |
| Principal collections on loans and finance receivables | 2,915 | 3,498 | 796 |
| Acquisitions of businesses, net of cash acquired | (8,685) | (15,924) | (108) |
| Purchases of property, plant and equipment | (8,191) | (5,980) | (4,937) |
| Other | 63 | (476) | 1,180 |
| Net cash flows from investing activities | (19,189) | (18,277) | (11,161) |
| Cash flows from financing activities: | |||
| Changes in short term borrowings, net | 301 | 370 | (885) |
| Acquisitions of noncontrolling interests and other | (1,860) | (95) | (410) |
| Net cash flows from financing activities | (2,217) | 8,125 | 233 |
| Effects of foreign currency exchange rate changes | 2 | (74) | 101 |
| Increase (decrease) in cash and cash equivalents | (928) | 7,669 | 5,019 |
| Cash and cash equivalents: | |||
| Cash and cash equivalents at beginning of year | 38,227 | 30,558 | |
| Cash and cash equivalents at end of year | 37,299 | 38,227 | 30,558 |
| Financial Segments | |||
| Insurance and Other | |||
| Proceeds from borrowings | 2,091 | 8,204 | 289 |
| Repayments of borrowings | (2,307) | (430) | (746) |
| Cash and cash equivalents at beginning of year | 33,513 | 28,223 | 28,223 |
| Cash and cash equivalents at end of year | 33,513 | 28,223 | 28,223 |
| Railroad, Utilities and Energy | |||
| Proceeds from borrowings | 2,290 | 1,731 | 1,241 |
| Repayments of borrowings | (2,335) | (777) | (444) |
| Cash and cash equivalents at beginning of year | 2,246 | 429 | 429 |
| Cash and cash equivalents at end of year | 2,246 | 429 | 429 |
| Finance and Financial Products | |||
| Proceeds from borrowings | 1,562 | 1,539 | 1,584 |
| Repayments of borrowings | (1,959) | (2,417) | (396) |
| Cash and cash equivalents at beginning of year | 1,540 | 1,906 | 1,906 |
| Cash and cash equivalents at end of year | 1,540 | 1,906 | 1,906 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
BERKSHIRE HATHAWAY INC | ||
Ticker: BRK Fiscal Year: 2011 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2011 10-K (Filed: Feb 27, 2012) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2011 | Dec 31, 2010 | |
| ASSETS | ||
| Cash and cash equivalents | $ 37,299 | 38,227 |
| Investments in equity securities | 76,991 | 61,513 |
| Inventories | 8,975 | 7,101 |
| Goodwill | 53,213 | 49,006 |
| Total assets | 392,647 | 372,229 |
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||
| LIABILITIES | ||
| Income taxes, principally deferred | 37,804 | 36,352 |
| Total liabilities | 223,686 | 209,295 |
| SHAREHOLDERS' EQUITY | ||
| Common stock | 8 | 8 |
| Capital in excess of par value | 37,807 | 37,533 |
| Accumulated other comprehensive income | 17,654 | 20,583 |
| Retained earnings | 109,448 | 99,194 |
| Treasury stock, at cost | (67) | |
| Berkshire Hathaway shareholders' equity | 164,850 | 157,318 |
| Noncontrolling interests | 4,111 | 5,616 |
| Total shareholders' equity | 168,961 | 162,934 |
| Total liabilities and shareholders' equity | 392,647 | 372,229 |
| Financial Segments | ||
| Insurance and Other | ||
| Cash and cash equivalents | 33,513 | 34,767 |
| Investments in fixed maturity securities | 31,222 | 33,803 |
| Investments in equity securities | 76,063 | 59,819 |
| Other investments | 13,111 | 19,333 |
| Receivables | 19,012 | 20,917 |
| Inventories | 8,975 | 7,101 |
| Property, plant and equipment | 18,177 | 15,741 |
| Goodwill | 32,125 | 27,891 |
| Other | 18,121 | 13,529 |
| Total assets | 250,319 | 232,901 |
| Losses and loss adjustment expenses | 63,819 | 60,075 |
| Unearned premiums | 8,910 | 7,997 |
| Life, annuity and health insurance benefits | 9,924 | 8,565 |
| Accounts payable, accruals and other liabilities | 18,466 | 15,826 |
| Notes payable and other borrowings | 13,768 | 12,471 |
| Total liabilities | 114,887 | 104,934 |
| Railroad, Utilities and Energy | ||
| Cash and cash equivalents | 2,246 | 2,557 |
| Property, plant and equipment | 82,214 | 77,385 |
| Goodwill | 20,056 | 20,084 |
| Other | 12,861 | 13,579 |
| Total assets | 117,377 | 113,605 |
| Accounts payable, accruals and other liabilities | 13,016 | 12,367 |
| Notes payable and other borrowings | 32,580 | 31,626 |
| Total liabilities | 45,596 | 43,993 |
| Finance and Financial Products | ||
| Cash and cash equivalents | 1,540 | 903 |
| Investments in fixed maturity securities | 966 | 1,080 |
| Other investments | 3,810 | 3,676 |
| Loans and finance receivables | 13,934 | 15,226 |
| Goodwill | 1,032 | 1,031 |
| Other | 3,669 | 3,807 |
| Total assets | 24,951 | 25,723 |
| Accounts payable, accruals and other liabilities | 1,224 | 1,168 |
| Derivative contract liabilities | 10,139 | 8,371 |
| Notes payable and other borrowings | 14,036 | 14,477 |
| Total liabilities | 25,399 | 24,016 |
| External Links | |
| BERKSHIRE HATHAWAY INC (BRK) Fiscal Year 2011 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |