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: 2015 | |||
Consolidated Statements of Earnings | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 29, 2016) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Revenues: | |||
| Sales and service revenues | $ 112,400 | 102,200 | 97,600 |
| Investment gains/losses | 9,373 | 3,575 | 4,065 |
| Total revenues | 210,821 | 194,673 | 182,150 |
| Costs and expenses: | |||
| Interest expense | 3,515 | 3,253 | 2,801 |
| Total costs and expenses | 175,875 | 166,568 | 153,354 |
| Earnings before income taxes | 34,946 | 28,105 | 28,796 |
| Income tax expense | 10,532 | 7,935 | 8,951 |
| Net earnings | 24,414 | 20,170 | 19,845 |
| Less: Earnings attributable to noncontrolling interests | 331 | 298 | 369 |
| Net earnings attributable to Berkshire Hathaway shareholders | 24,083 | 19,872 | 19,476 |
| Net earnings per share attributable to Berkshire Hathaway shareholders: | |||
| Financial Segments | |||
| Insurance and Other | |||
| Insurance premiums earned | 41,294 | 41,253 | 36,684 |
| Sales and service revenues | 107,001 | 97,097 | 92,993 |
| Interest, dividend and other investment income | 5,235 | 5,026 | 4,934 |
| Investment gains/losses | 9,363 | 3,503 | 3,881 |
| Total revenues | 162,893 | 146,879 | 138,492 |
| Insurance losses and loss adjustment expenses | 26,527 | 26,406 | 21,275 |
| Life, annuity and health insurance benefits | 5,413 | 5,181 | 5,072 |
| Insurance underwriting expenses | 7,517 | 6,998 | 7,248 |
| Cost of sales and services | 87,029 | 78,873 | 75,953 |
| Selling, general and administrative expenses | 13,723 | 12,198 | 11,732 |
| Interest expense | 460 | 419 | 395 |
| Total costs and expenses | 140,669 | 130,075 | 121,675 |
| Railroad, Utilities and Energy | |||
| Total revenues | 40,004 | 40,690 | 34,757 |
| Cost of sales and operating expenses | 27,650 | 29,378 | 25,157 |
| Interest expense | 2,653 | 2,378 | 1,865 |
| Total costs and expenses | 30,303 | 31,756 | 27,022 |
| Finance and Financial Products | |||
| Sales and service revenues | 5,430 | 5,094 | 4,635 |
| Interest, dividend and other investment income | 1,510 | 1,432 | 1,474 |
| Investment gains/losses | 10 | 72 | 184 |
| Derivative gains/losses | 974 | 506 | 2,608 |
| Total revenues | 7,924 | 7,104 | 8,901 |
| Cost of sales and services | 2,915 | 2,758 | 2,566 |
| Selling, general and administrative expenses | 1,586 | 1,523 | 1,550 |
| Interest expense | 402 | 456 | 541 |
| Total costs and expenses | 4,903 | 4,737 | 4,657 |
| Class of Stock | |||
| Class A | |||
| Net earnings per share attributable to Berkshire Hathaway shareholders | 14656 [1] | 12092 | 11850 |
| Average equivalent Class A shares outstanding | 1,643,183 | 1,643,456 | 1,643,613 |
| [1] Average shares outstanding and net earnings per share are shown on an equivalent Class A common stock basis. Equivalent Class B shares outstanding are 1,500 times the equivalent Class A amount. Net earnings per equivalent Class B share outstanding are one-fifteen-hundredth (1/1,500) of the equivalent Class A amount or $9.77 for 2015, $8.06 for 2014 and $7.90 for 2013. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BERKSHIRE HATHAWAY INC | |||
Ticker: BRK Fiscal Year: 2015 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 29, 2016) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Net earnings | $ 24,414 | 20,170 | 19,845 |
| Other comprehensive income: | |||
| Net change in unrealized appreciation of investments | (8,520) | 5,831 | 25,111 |
| Applicable income taxes | 3,014 | (2,062) | (8,691) |
| Reclassification of investment appreciation in net earnings | (2,332) | (3,360) | (2,447) |
| Applicable income taxes | 816 | 1,176 | 856 |
| Foreign currency translation | (1,931) | (2,032) | (82) |
| Applicable income taxes | (43) | 183 | 34 |
| Prior service cost and actuarial gains/losses of defined benefit pension plans | 424 | (1,703) | 2,602 |
| Applicable income taxes | (140) | 624 | (950) |
| Other, net | (94) | 8 | 138 |
| Other comprehensive income, net | (8,806) | (1,335) | 16,571 |
| Comprehensive income | 15,608 | 18,835 | 36,416 |
| Comprehensive income attributable to noncontrolling interests | 275 | 256 | 394 |
| Comprehensive income attributable to Berkshire Hathaway shareholders | 15,333 | 18,579 | 36,022 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BERKSHIRE HATHAWAY INC | |||
Ticker: BRK Fiscal Year: 2015 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 29, 2016) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Cash flows from operating activities: | |||
| Net earnings | $ 24,414 | 20,170 | 19,845 |
| Adjustments to reconcile net earnings to operating cash flows: | |||
| Investment gains/losses | (9,373) | (3,575) | (4,065) |
| Depreciation and amortization | 7,779 | 7,370 | 6,508 |
| Other | 751 | (341) | 373 |
| Changes in operating assets and liabilities: | |||
| Losses and loss adjustment expenses | 2,262 | 7,404 | 578 |
| Deferred charges reinsurance assumed | 84 | (3,413) | (340) |
| Unearned premiums | 1,392 | 1,159 | 519 |
| Receivables and originated loans | (1,650) | (1,890) | 1,035 |
| Derivative contract assets and liabilities | (974) | (520) | (2,430) |
| Income taxes | 5,718 | 4,905 | 3,514 |
| Other | 1,088 | 741 | 2,167 |
| Net cash flows from operating activities | 31,491 | 32,010 | 27,704 |
| Cash flows from investing activities: | |||
| Purchases of fixed maturity securities | (8,186) | (7,774) | (7,546) |
| Purchases of equity securities | (10,220) | (7,014) | (8,558) |
| Investments in The Kraft Heinz Company and other investments | (5,258) | (3,000) | (12,250) |
| Sales of fixed maturity securities | 2,172 | 1,697 | 4,311 |
| Redemptions and maturities of fixed maturity securities | 6,583 | 6,795 | 11,203 |
| Sales and redemptions of equity securities | 8,747 | 8,896 | 3,869 |
| Purchases of loans and finance receivables | (179) | (181) | (490) |
| Collections of loans and finance receivables | 492 | 885 | 654 |
| Acquisitions of businesses, net of cash acquired | (4,902) | (4,824) | (6,431) |
| Purchases of property, plant and equipment | (16,082) | (15,185) | (11,087) |
| Other | 165 | 336 | (1,210) |
| Net cash flows from investing activities | (26,668) | (19,369) | (27,535) |
| Cash flows from financing activities: | |||
| Changes in short term borrowings, net | (378) | 932 | (1,317) |
| Acquisitions of noncontrolling interests | (72) | (1,287) | (2,890) |
| Other financing activities | (161) | 22 | (134) |
| Net cash flows from financing activities | 3,803 | 2,731 | 961 |
| Effects of foreign currency exchange rate changes | (165) | (289) | 64 |
| Increase (decrease) in cash and cash equivalents | 8,461 | 15,083 | 1,194 |
| Cash and cash equivalents: | |||
| Cash and cash equivalents at beginning of year | 63,269 | 48,186 | |
| Cash and cash equivalents at end of year | 71,730 | 63,269 | 48,186 |
| Financial Segments | |||
| Insurance and Other | |||
| Investment gains/losses | (9,363) | (3,503) | (3,881) |
| Proceeds from borrowings | 3,358 | 845 | 2,622 |
| Repayments of borrowings | (1,916) | (1,289) | (2,750) |
| Cash and cash equivalents at beginning of year | 61,181 | 42,433 | 42,433 |
| Cash and cash equivalents at end of year | 61,181 | 42,433 | 42,433 |
| Railroad, Utilities and Energy | |||
| Proceeds from borrowings | 5,479 | 5,765 | 7,491 |
| Repayments of borrowings | (1,725) | (1,862) | (1,596) |
| Cash and cash equivalents at beginning of year | 3,437 | 3,400 | 3,400 |
| Cash and cash equivalents at end of year | 3,437 | 3,400 | 3,400 |
| Finance and Financial Products | |||
| Investment gains/losses | (10) | (72) | (184) |
| Proceeds from borrowings | 1,045 | 1,148 | 3,462 |
| Repayments of borrowings | (1,827) | (1,543) | (3,927) |
| Cash and cash equivalents at beginning of year | 7,112 | 2,353 | 2,353 |
| Cash and cash equivalents at end of year | 7,112 | 2,353 | 2,353 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
BERKSHIRE HATHAWAY INC | ||
Ticker: BRK Fiscal Year: 2015 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2015 10-K (Filed: Feb 29, 2016) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2015 | Dec 31, 2014 | |
| ASSETS | ||
| Cash and cash equivalents | $ 71,730 | 63,269 |
| Investments in fixed maturity securities | 26,027 | 27,636 |
| Investments in equity securities | 111,822 [1] | 117,470 [2] |
| Inventories | 11,916 | 10,236 |
| Goodwill | 62,708 | 60,714 |
| Total assets | 552,257 | 525,867 |
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||
| LIABILITIES | ||
| Income taxes, principally deferred | 63,126 | 61,235 |
| Total liabilities | 293,630 | 282,840 |
| Shareholders' equity: | ||
| Common stock | 8 | 8 |
| Capital in excess of par value | 35,620 | 35,573 |
| Accumulated other comprehensive income | 33,982 | 42,732 |
| Retained earnings | 187,703 | 163,620 |
| Treasury stock, at cost | (1,763) | (1,763) |
| Berkshire Hathaway shareholders' equity | 255,550 | 240,170 |
| Noncontrolling interests | 3,077 | 2,857 |
| Total shareholders' equity | 258,627 | 243,027 |
| Total liabilities and shareholders' equity | 552,257 | 525,867 |
| Financial Segments | ||
| Insurance and Other | ||
| Cash and cash equivalents | 61,181 | 57,974 |
| Investments in fixed maturity securities | 25,988 | 27,397 |
| Investments in equity securities | 110,212 | 115,529 |
| Other investments | 15,998 | 16,346 |
| Investments in The Kraft Heinz Company | 23,424 | 11,660 |
| Receivables | 23,303 | 21,852 |
| Inventories | 11,916 | 10,236 |
| Property, plant and equipment | 15,540 | 14,153 |
| Goodwill | 37,188 | 34,959 |
| Other intangible assets | 9,148 | 9,203 |
| Deferred charges reinsurance assumed | 7,687 | 7,772 |
| Other | 6,697 | 6,748 |
| Total assets | 348,282 | 333,829 |
| Losses and loss adjustment expenses | 73,144 | 71,477 |
| Unearned premiums | 13,311 | 11,944 |
| Life, annuity and health insurance benefits | 14,497 | 13,261 |
| Other policyholder liabilities | 7,123 | 6,835 |
| Accounts payable, accruals and other liabilities | 17,879 | 16,472 |
| Notes payable and other borrowings | 14,599 | 11,854 |
| Total liabilities | 140,553 | 131,843 |
| Railroad, Utilities and Energy | ||
| Cash and cash equivalents | 3,437 | 3,001 |
| Property, plant and equipment | 120,279 | 115,054 |
| Goodwill | 24,178 | 24,418 |
| Regulatory assets | 4,285 | 4,253 |
| Other | 12,833 | 11,817 |
| Total assets | 165,012 | 158,543 |
| Accounts payable, accruals and other liabilities | 11,994 | 12,763 |
| Regulatory liabilities | 3,033 | 2,832 |
| Notes payable and other borrowings | 57,739 | 55,306 |
| Total liabilities | 72,766 | 70,901 |
| Finance and Financial Products | ||
| Cash and cash equivalents | 7,112 | 2,294 |
| Investments in fixed maturity securities | 39 | 239 |
| Investments in equity and fixed maturity securities | 411 | 1,299 |
| Investments in equity securities | 372 | 1,060 |
| Other investments | 5,719 | 5,978 |
| Loans and finance receivables | 12,772 | 12,566 |
| Property, plant and equipment and assets held for lease | 9,347 | 8,037 |
| Goodwill | 1,342 | 1,337 |
| Other | 2,260 | 1,984 |
| Total assets | 38,963 | 33,495 |
| Accounts payable, accruals and other liabilities | 1,398 | 1,321 |
| Derivative contract liabilities | 3,836 | 4,810 |
| Notes payable and other borrowings | 11,951 | 12,730 |
| Total liabilities | 17,185 | 18,861 |
| [1] Approximately 59% of the aggregate fair value was concentrated in the equity securities of four companies (American Express Company-$10.5 billion; Wells Fargo & Company-$27.2 billion; International Business Machines Corporation ("IBM")-$11.2 billion; and The Coca-Cola Company-$17.2 billion). | ||
| [2] Approximately 59% of the aggregate fair value was concentrated in the equity securities of four companies (American Express Company-$14.1 billion; Wells Fargo & Company-$26.5 billion; International Business Machines Corporation-$12.3 billion; and The Coca-Cola Company-$16.9 billion). | ||
| External Links | |
| BERKSHIRE HATHAWAY INC (BRK) Fiscal Year 2015 | |
| 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 |