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: 2012 | |||
Consolidated Statements of Earnings | |||
Period Ending Dec 31, 2012 10-K (Filed: Mar 1, 2013) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Revenues: | |||
| Investment gains/losses | $ 1,799 | 2,182 | 4,058 |
| Other-than-temporary impairment losses on investments | (337) | (908) | (1,973) |
| Total revenues | 162,463 | 143,688 | 136,185 |
| Costs and expenses: | |||
| Total costs and expenses | 140,227 | 128,374 | 117,134 |
| Earnings before income taxes | 22,236 | 15,314 | 19,051 |
| Income tax expense | 6,924 | 4,568 | 5,607 |
| Earnings from equity method investments | 50 | ||
| Net earnings | 15,312 | 10,746 | 13,494 |
| Less: Earnings attributable to noncontrolling interests | 488 | 492 | 527 |
| Net earnings attributable to Berkshire Hathaway shareholders | 14,824 | 10,254 | 12,967 |
| Average common shares outstanding | 1,651,294 [1] | 1,649,891 | 1,635,661 |
| Net earnings per share attributable to Berkshire Hathaway shareholders: | |||
| Financial Segments | |||
| Insurance and Other | |||
| Insurance premiums earned | 34,545 | 32,075 | 30,749 |
| Sales and service revenues | 83,268 | 72,803 | 67,225 |
| Interest, dividend and other investment income | 4,534 | 4,792 | 5,215 |
| Investment gains/losses | 1,327 | 1,973 | 4,044 |
| Other-than-temporary impairment losses on investments | (337) | (908) | (1,973) |
| Total revenues | 123,337 | 110,735 | 105,260 |
| Insurance losses and loss adjustment expenses | 20,113 | 20,829 | 18,087 |
| Life, annuity and health insurance benefits | 5,114 | 4,879 | 4,453 |
| Insurance underwriting expenses | 7,693 | 6,119 | 6,196 |
| Cost of sales and services | 67,536 | 59,839 | 55,585 |
| Selling, general and administrative expenses | 10,503 | 8,670 | 7,704 |
| Interest expense | 397 | 308 | 278 |
| Total costs and expenses | 111,356 | 100,644 | 92,303 |
| Railroad, Utilities and Energy | |||
| Operating revenues | 32,383 | 30,721 | 26,186 |
| Other | 199 | 118 | 178 |
| Total revenues | 32,582 | 30,839 | 26,364 |
| Cost of sales and operating expenses | 23,816 | 22,736 | 19,637 |
| Interest expense | 1,745 | 1,703 | 1,577 |
| Total costs and expenses | 25,561 | 24,439 | 21,214 |
| Finance and Financial Products | |||
| Interest, dividend and other investment income | 1,572 | 1,618 | 1,683 |
| Investment gains/losses | 472 | 209 | 14 |
| Derivative gains/losses | 1,963 | (2,104) | 261 |
| Other | 2,537 | 2,391 | 2,603 |
| Total revenues | 6,544 | 2,114 | 4,561 |
| Interest expense | 602 | 653 | 703 |
| Other | 2,708 | 2,638 | 2,914 |
| Total costs and expenses | 3,310 | 3,291 | 3,617 |
| Class of Stock | |||
| Class A | |||
| Net earnings per share attributable to Berkshire Hathaway shareholders | 8977 | 6215 | 7928 |
| [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 $5.98 per share for 2012, $4.14 per share for 2011 and $5.29 per share for 2010. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BERKSHIRE HATHAWAY INC | |||
Ticker: BRK Fiscal Year: 2012 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2012 10-K (Filed: Mar 1, 2013) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Net earnings | $ 15,312 | 10,746 | 13,494 |
| Other comprehensive income: | |||
| Net change in unrealized appreciation of investments | 15,700 | (2,146) | 5,398 |
| Applicable income taxes | (5,434) | 811 | (1,866) |
| Reclassification of investment appreciation in net earnings | (953) | (1,245) | (1,068) |
| Applicable income taxes | 334 | 436 | 374 |
| Foreign currency translation | 276 | (126) | (172) |
| Applicable income taxes | (9) | (18) | (21) |
| Prior service cost and actuarial gains/losses of defined benefit plans | 5 | (1,121) | (76) |
| Applicable income taxes | (26) | 401 | 25 |
| Other, net | (32) | (104) | 204 |
| Other comprehensive income, net | 9,861 | (3,112) | 2,798 |
| Comprehensive income | 25,173 | 7,634 | 16,292 |
| Comprehensive income attributable to noncontrolling interests | 503 | 385 | 536 |
| Comprehensive income attributable to Berkshire Hathaway shareholders | 24,670 | 7,249 | 15,756 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BERKSHIRE HATHAWAY INC | |||
Ticker: BRK Fiscal Year: 2012 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2012 10-K (Filed: Mar 1, 2013) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Cash flows from operating activities: | |||
| Net earnings | $ 15,312 | 10,746 | 13,494 |
| Adjustments to reconcile net earnings to operating cash flows: | |||
| Investment (gains) losses and other-than-temporary impairment losses | (1,462) | (1,274) | (2,085) |
| Depreciation | 5,146 | 4,683 | 4,279 |
| Other | 795 | 811 | 255 |
| Changes in operating assets and liabilities before business acquisitions: | |||
| Losses and loss adjustment expenses | (421) | 3,063 | 1,009 |
| Deferred charges reinsurance assumed | 121 | (329) | 147 |
| Unearned premiums | 1,134 | 852 | 110 |
| Receivables and originated loans | (1,610) | (1,159) | (1,979) |
| Derivative contract assets and liabilities | (2,183) | 1,881 | (880) |
| Income taxes | 1,710 | 1,493 | 2,348 |
| Other assets | 185 | (1,601) | (1,070) |
| Other liabilities | 2,223 | 1,310 | 2,267 |
| Net cash flows from operating activities | 20,950 | 20,476 | 17,895 |
| Cash flows from investing activities: | |||
| Purchases of fixed maturity securities | (8,250) | (7,362) | (9,819) |
| Purchases of equity securities | (7,376) | (15,660) | (4,265) |
| Purchases of other investments | (5,000) | ||
| Sales of fixed maturity securities | 2,982 | 3,353 | 5,435 |
| Redemptions and maturities of fixed maturity securities | 6,064 | 6,872 | 6,517 |
| Sales of equity securities | 8,088 | 1,518 | 5,886 |
| Redemptions of other investments | 12,645 | ||
| Purchases of loans and finance receivables | (650) | (1,657) | (3,149) |
| Collections of loans and finance receivables | 1,714 | 2,915 | 3,498 |
| Acquisitions of businesses, net of cash acquired | (3,188) | (8,685) | (15,924) |
| Purchases of property, plant and equipment | (9,775) | (8,191) | (5,980) |
| Other | (183) | 63 | (476) |
| Net cash flows from investing activities | (10,574) | (19,189) | (18,277) |
| Cash flows from financing activities: | |||
| Changes in short term borrowings, net | (309) | 301 | 370 |
| Acquisitions of treasury stock | (1,296) | (67) | |
| Acquisitions of noncontrolling interests and other | (752) | (1,793) | (95) |
| Net cash flows from financing activities | (806) | (2,217) | 8,125 |
| Effects of foreign currency exchange rate changes | 123 | 2 | (74) |
| Increase (decrease) in cash and cash equivalents | 9,693 | (928) | 7,669 |
| Cash and cash equivalents: | |||
| Cash and cash equivalents at beginning of year | 37,299 | 38,227 | |
| Cash and cash equivalents at end of year | 46,992 | 37,299 | 38,227 |
| Financial Segments | |||
| Insurance and Other | |||
| Proceeds from borrowings | 1,820 | 2,091 | 8,204 |
| Repayments of borrowings | (2,078) | (2,307) | (430) |
| Cash and cash equivalents at beginning of year | 42,358 | 34,767 | 34,767 |
| Cash and cash equivalents at end of year | 42,358 | 34,767 | 34,767 |
| Railroad, Utilities and Energy | |||
| Proceeds from borrowings | 4,707 | 2,290 | 1,731 |
| Repayments of borrowings | (2,119) | (2,335) | (777) |
| Cash and cash equivalents at beginning of year | 2,570 | 2,557 | 2,557 |
| Cash and cash equivalents at end of year | 2,570 | 2,557 | 2,557 |
| Finance and Financial Products | |||
| Proceeds from borrowings | 2,352 | 1,562 | 1,539 |
| Repayments of borrowings | (3,131) | (1,959) | (2,417) |
| Cash and cash equivalents at beginning of year | 2,064 | 903 | 903 |
| Cash and cash equivalents at end of year | 2,064 | 903 | 903 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
BERKSHIRE HATHAWAY INC | ||
Ticker: BRK Fiscal Year: 2012 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2012 10-K (Filed: Mar 1, 2013) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2012 | Dec 31, 2011 | |
| ASSETS | ||
| Cash and cash equivalents | $ 46,992 | 37,299 |
| Investments in equity securities | 87,662 | 76,991 |
| Inventories | 9,675 | 8,975 |
| Goodwill | 54,523 | 53,213 |
| Total assets | 427,452 | 392,647 |
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||
| LIABILITIES | ||
| Income taxes, principally deferred | 44,494 | 37,804 |
| Total liabilities | 235,864 | 223,686 |
| SHAREHOLDERS' EQUITY | ||
| Common stock | 8 | 8 |
| Capital in excess of par value | 37,230 | 37,807 |
| Accumulated other comprehensive income | 27,500 | 17,654 |
| Retained earnings | 124,272 | 109,448 |
| Treasury stock, at cost | (1,363) | (67) |
| Berkshire Hathaway shareholders' equity | 187,647 | 164,850 |
| Noncontrolling interests | 3,941 | 4,111 |
| Total shareholders' equity | 191,588 | 168,961 |
| Total liabilities and shareholders' equity | 427,452 | 392,647 |
| Financial Segments | ||
| Insurance and Other | ||
| Cash and cash equivalents | 42,358 | 33,513 |
| Investments in fixed maturity securities | 31,449 | 31,222 |
| Investments in equity securities | 86,467 | 76,063 |
| Other investments | 16,057 | 13,111 |
| Receivables | 21,753 | 19,012 |
| Inventories | 9,675 | 8,975 |
| Property, plant and equipment | 19,188 | 18,177 |
| Goodwill | 33,274 | 32,125 |
| Other | 17,875 | 18,121 |
| Total assets | 278,096 | 250,319 |
| Losses and loss adjustment expenses | 64,160 | 63,819 |
| Unearned premiums | 10,237 | 8,910 |
| Life, annuity and health insurance benefits | 10,943 | 9,924 |
| Accounts payable, accruals and other liabilities | 21,149 | 18,466 |
| Notes payable and other borrowings | 13,535 | 13,768 |
| Total liabilities | 120,024 | 114,887 |
| Railroad, Utilities and Energy | ||
| Cash and cash equivalents | 2,570 | 2,246 |
| Property, plant and equipment | 87,684 | 82,214 |
| Goodwill | 20,213 | 20,056 |
| Other | 13,441 | 12,861 |
| Total assets | 123,908 | 117,377 |
| Accounts payable, accruals and other liabilities | 13,113 | 13,016 |
| Notes payable and other borrowings | 36,156 | 32,580 |
| Total liabilities | 49,269 | 45,596 |
| Finance and Financial Products | ||
| Cash and cash equivalents | 2,064 | 1,540 |
| Investments in fixed maturity securities | 842 | 966 |
| Other investments | 4,952 | 3,810 |
| Loans and finance receivables | 12,809 | 13,934 |
| Goodwill | 1,036 | 1,032 |
| Other | 3,745 | 3,669 |
| Total assets | 25,448 | 24,951 |
| Accounts payable, accruals and other liabilities | 1,099 | 1,224 |
| Derivative contract liabilities | 7,933 | 10,139 |
| Notes payable and other borrowings | 13,045 | 14,036 |
| Total liabilities | 22,077 | 25,399 |
| External Links | |
| BERKSHIRE HATHAWAY INC (BRK) Fiscal Year 2012 | |
| 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 |