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: 2013 | |||
Consolidated Statements of Earnings | |||
Period Ending Dec 31, 2013 10-K (Filed: Mar 3, 2014) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Revenues: | |||
| Investment gains/losses | $ 4,065 | 1,462 | 1,274 |
| Total revenues | 182,150 | 162,463 | 143,688 |
| Costs and expenses: | |||
| Total costs and expenses | 153,354 | 140,227 | 128,374 |
| Earnings before income taxes | 28,796 | 22,236 | 15,314 |
| Income tax expense | 8,951 | 6,924 | 4,568 |
| Net earnings | 19,845 | 15,312 | 10,746 |
| Less: Earnings attributable to noncontrolling interests | 369 | 488 | 492 |
| Net earnings attributable to Berkshire Hathaway shareholders | 19,476 | 14,824 | 10,254 |
| Average common shares outstanding | 1,643,613 [1] | 1,651,294 | 1,649,891 |
| Net earnings per share attributable to Berkshire Hathaway shareholders: | |||
| Financial Segments | |||
| Insurance and Other | |||
| Insurance premiums earned | 36,684 | 34,545 | 32,075 |
| Sales and service revenues | 94,806 | 83,268 | 72,803 |
| Interest, dividend and other investment income | 4,939 | 4,534 | 4,792 |
| Investment gains/losses | 3,881 | 990 | 1,065 |
| Total revenues | 140,310 | 123,337 | 110,735 |
| Insurance losses and loss adjustment expenses | 21,275 | 20,113 | 20,829 |
| Life, annuity and health insurance benefits | 5,072 | 5,114 | 4,879 |
| Insurance underwriting expenses | 7,248 | 7,693 | 6,119 |
| Cost of sales and services | 77,053 | 67,536 | 59,839 |
| Selling, general and administrative expenses | 11,917 | 10,503 | 8,670 |
| Interest expense | 426 | 397 | 308 |
| Total costs and expenses | 122,991 | 111,356 | 100,644 |
| Railroad, Utilities and Energy | |||
| Operating revenues | 34,649 | 32,383 | 30,721 |
| Other | 108 | 199 | 118 |
| Total revenues | 34,757 | 32,582 | 30,839 |
| Cost of sales and operating expenses | 25,157 | 23,816 | 22,736 |
| Interest expense | 1,865 | 1,745 | 1,703 |
| Total costs and expenses | 27,022 | 25,561 | 24,439 |
| Finance and Financial Products | |||
| Interest, dividend and other investment income | 1,469 | 1,572 | 1,618 |
| Investment gains/losses | 184 | 472 | 209 |
| Derivative gains/losses | 2,608 | 1,963 | (2,104) |
| Other | 2,822 | 2,537 | 2,391 |
| Total revenues | 7,083 | 6,544 | 2,114 |
| Interest expense | 510 | 602 | 653 |
| Other | 2,831 | 2,708 | 2,638 |
| Total costs and expenses | 3,341 | 3,310 | 3,291 |
| Class of Stock | |||
| Class A | |||
| Net earnings per share attributable to Berkshire Hathaway shareholders | 11850 | 8977 | 6215 |
| [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 $7.90 per share for 2013, $5.98 per share for 2012 and $4.14 per share for 2011. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BERKSHIRE HATHAWAY INC | |||
Ticker: BRK Fiscal Year: 2013 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2013 10-K (Filed: Mar 3, 2014) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Net earnings | $ 19,845 | 15,312 | 10,746 |
| Other comprehensive income: | |||
| Net change in unrealized appreciation of investments | 25,111 | 15,700 | (2,146) |
| Applicable income taxes | (8,691) | (5,434) | 811 |
| Reclassification of investment appreciation in net earnings | (2,447) | (953) | (1,245) |
| Applicable income taxes | 856 | 334 | 436 |
| Foreign currency translation | (82) | 276 | (126) |
| Applicable income taxes | 34 | (9) | (18) |
| Prior service cost and actuarial gains/losses of defined benefit pension plans | 2,602 | 5 | (1,121) |
| Applicable income taxes | (950) | (26) | 401 |
| Other, net | 138 | (32) | (104) |
| Other comprehensive income, net | 16,571 | 9,861 | (3,112) |
| Comprehensive income | 36,416 | 25,173 | 7,634 |
| Comprehensive income attributable to noncontrolling interests | 394 | 503 | 385 |
| Comprehensive income attributable to Berkshire Hathaway shareholders | 36,022 | 24,670 | 7,249 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BERKSHIRE HATHAWAY INC | |||
Ticker: BRK Fiscal Year: 2013 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2013 10-K (Filed: Mar 3, 2014) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Cash flows from operating activities: | |||
| Net earnings | $ 19,845 | 15,312 | 10,746 |
| Adjustments to reconcile net earnings to operating cash flows: | |||
| Investment (gains) losses | (4,065) | (1,462) | (1,274) |
| Depreciation and amortization | 6,508 | 6,154 | 5,492 |
| Other | 373 | (213) | 2 |
| Changes in operating assets and liabilities before business acquisitions: | |||
| Losses and loss adjustment expenses | 578 | (421) | 3,063 |
| Deferred charges reinsurance assumed | (340) | 121 | (329) |
| Unearned premiums | 519 | 1,134 | 852 |
| Receivables and originated loans | 1,035 | (1,610) | (1,159) |
| Derivative contract assets and liabilities | (2,430) | (2,183) | 1,881 |
| Income taxes | 3,514 | 1,710 | 1,493 |
| Other | 2,167 | 2,408 | (291) |
| Net cash flows from operating activities | 27,704 | 20,950 | 20,476 |
| Cash flows from investing activities: | |||
| Purchases of fixed maturity securities | (7,546) | (8,250) | (7,362) |
| Purchases of equity securities | (8,558) | (7,376) | (15,660) |
| Purchases of other investments | (12,250) | (5,000) | |
| Sales of fixed maturity securities | 4,311 | 2,982 | 3,353 |
| Redemptions and maturities of fixed maturity securities | 11,203 | 6,064 | 6,872 |
| Sales and redemptions of equity securities | 3,869 | 8,088 | 14,163 |
| Purchases of loans and finance receivables | (490) | (650) | (1,657) |
| Collections of loans and finance receivables | 654 | 1,714 | 2,915 |
| Acquisitions of businesses, net of cash acquired | (6,431) | (3,188) | (8,685) |
| Purchases of property, plant and equipment | (11,087) | (9,775) | (8,191) |
| Other | (1,210) | (183) | 63 |
| Net cash flows from investing activities | (27,535) | (10,574) | (19,189) |
| Cash flows from financing activities: | |||
| Changes in short term borrowings, net | (1,317) | (309) | 301 |
| Acquisitions of noncontrolling interests and treasury stock | (2,890) | (2,096) | (1,878) |
| Other financing activities | (134) | 48 | 18 |
| Net cash flows from financing activities | 961 | (806) | (2,217) |
| Effects of foreign currency exchange rate changes | 64 | 123 | 2 |
| Increase (decrease) in cash and cash equivalents | 1,194 | 9,693 | (928) |
| Cash and cash equivalents: | |||
| Cash and cash equivalents at beginning of year | 46,992 | 37,299 | |
| Cash and cash equivalents at end of year | 48,186 | 46,992 | 37,299 |
| Financial Segments | |||
| Insurance and Other | |||
| Investment (gains) losses | (3,881) | (990) | (1,065) |
| Proceeds from borrowings | 2,622 | 1,820 | 2,091 |
| Repayments of borrowings | (2,835) | (2,078) | (2,307) |
| Cash and cash equivalents at beginning of year | 42,614 | 33,513 | 33,513 |
| Cash and cash equivalents at end of year | 42,614 | 33,513 | 33,513 |
| Railroad, Utilities and Energy | |||
| Proceeds from borrowings | 7,491 | 4,707 | 2,290 |
| Repayments of borrowings | (1,596) | (2,119) | (2,335) |
| Cash and cash equivalents at beginning of year | 3,400 | 2,246 | 2,246 |
| Cash and cash equivalents at end of year | 3,400 | 2,246 | 2,246 |
| Finance and Financial Products | |||
| Investment (gains) losses | (184) | (472) | (209) |
| Proceeds from borrowings | 3,462 | 2,352 | 1,562 |
| Repayments of borrowings | (3,842) | (3,131) | (1,959) |
| Cash and cash equivalents at beginning of year | 2,172 | 1,540 | 1,540 |
| Cash and cash equivalents at end of year | 2,172 | 1,540 | 1,540 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
BERKSHIRE HATHAWAY INC | ||
Ticker: BRK Fiscal Year: 2013 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2013 10-K (Filed: Mar 3, 2014) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2013 | Dec 31, 2012 | |
| ASSETS | ||
| Cash and cash equivalents | $ 48,186 | 46,992 |
| Investments in fixed maturity securities | 29,353 | 37,550 |
| Investments in equity securities | 117,505 | 88,346 |
| Inventories | 9,945 | 9,675 |
| Goodwill | 57,011 | 54,523 |
| Total assets | 484,931 | 427,452 |
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||
| LIABILITIES | ||
| Income taxes, principally deferred | 57,739 | 44,494 |
| Total liabilities | 260,446 | 235,864 |
| SHAREHOLDERS' EQUITY | ||
| Common stock | 8 | 8 |
| Capital in excess of par value | 35,472 | 37,230 |
| Accumulated other comprehensive income | 44,025 | 27,500 |
| Retained earnings | 143,748 | 124,272 |
| Treasury stock, at cost | (1,363) | (1,363) |
| Berkshire Hathaway shareholders' equity | 221,890 | 187,647 |
| Noncontrolling interests | 2,595 | 3,941 |
| Total shareholders' equity | 224,485 | 191,588 |
| Total liabilities and shareholders' equity | 484,931 | 427,452 |
| Financial Segments | ||
| Insurance and Other | ||
| Cash and cash equivalents | 42,614 | 42,358 |
| Investments in fixed maturity securities | 28,785 | 36,708 |
| Investments in equity securities | 115,464 | 87,081 |
| Other investments | 12,334 | 10,184 |
| Investments in H.J. Heinz Holding Corporation | 12,111 | |
| Receivables | 20,497 | 21,753 |
| Inventories | 9,945 | 9,675 |
| Property, plant and equipment | 19,732 | 19,188 |
| Goodwill | 33,372 | 33,274 |
| Other | 19,244 | 17,875 |
| Total assets | 314,098 | 278,096 |
| Losses and loss adjustment expenses | 64,866 | 64,160 |
| Unearned premiums | 10,770 | 10,237 |
| Life, annuity and health insurance benefits | 11,681 | 10,943 |
| Accounts payable, accruals and other liabilities | 22,254 | 21,149 |
| Notes payable and other borrowings | 12,902 | 13,535 |
| Total liabilities | 122,473 | 120,024 |
| Railroad, Utilities and Energy | ||
| Cash and cash equivalents | 3,400 | 2,570 |
| Property, plant and equipment | 102,482 | 87,684 |
| Goodwill | 22,603 | 20,213 |
| Other | 16,149 | 13,441 |
| Total assets | 144,634 | 123,908 |
| Accounts payable, accruals and other liabilities | 14,557 | 13,113 |
| Notes payable and other borrowings | 46,655 | 36,156 |
| Total liabilities | 61,212 | 49,269 |
| Finance and Financial Products | ||
| Cash and cash equivalents | 2,172 | 2,064 |
| Investments in fixed maturity securities | 568 | 842 |
| Investments in equity and fixed maturity securities | 1,506 | 1,432 |
| Investments in equity securities | 938 | 590 |
| Other investments | 5,617 | 4,882 |
| Loans and finance receivables | 12,826 | 12,809 |
| Goodwill | 1,036 | 1,036 |
| Other | 3,042 | 3,225 |
| Total assets | 26,199 | 25,448 |
| Accounts payable, accruals and other liabilities | 1,024 | 1,099 |
| Derivative contract liabilities | 5,331 | 7,933 |
| Notes payable and other borrowings | 12,667 | 13,045 |
| Total liabilities | 19,022 | 22,077 |
| External Links | |
| BERKSHIRE HATHAWAY INC (BRK) Fiscal Year 2013 | |
| 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 |