BERKSHIRE HATHAWAY INC (BRK) FY 2016 Financial Statements

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BERKSHIRE HATHAWAY INC
Ticker: BRK Fiscal Year: 2016
Consolidated Statements of Earnings
Period Ending Dec 31, 2016 10-K (Filed: Feb 27, 2017)
(In Millions, except shares in actual)
	12 Months Ended	12 Months Ended	12 Months Ended
	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014
Revenues:
Sales and service revenues	$ 125,700	112,400	102,200
Investment gains/losses	7,553	9,373	3,575
Total revenues	223,604	210,943	194,699

Costs and expenses:
Insurance losses and loss adjustment expenses	30,906	26,527	26,406
Interest expense	3,497	3,515	3,253
Total costs and expenses	190,860	175,875	166,568

Earnings before income taxes and equity in earnings of Kraft Heinz Company	32,744	35,068	28,131

Equity in earnings (losses) of Kraft Heinz Company	923	(122)	(26)
Earnings before income taxes	33,667	34,946	28,105

Income tax expense	9,240	10,532	7,935
Net earnings	24,427	24,414	20,170

Less: Earnings attributable to noncontrolling interests	353	331	298
Net earnings attributable to Berkshire Hathaway shareholders	24,074	24,083	19,872

Net earnings per share attributable to Berkshire Hathaway shareholders:
Products and Services
Insurance and Other
Insurance premiums earned	45,881	41,294	41,253
Sales and service revenues	119,489	107,001	97,097
Interest, dividend and other investment income	4,725	5,357	5,052
Investment gains/losses	5,128	9,363	3,503
Total revenues	175,223	163,015	146,905

Insurance losses and loss adjustment expenses	30,906	26,527	26,406
Life, annuity and health insurance benefits	5,131	5,413	5,181
Insurance underwriting expenses	7,713	7,517	6,998
Cost of sales and services	95,754	87,029	78,873
Selling, general and administrative expenses	16,478	13,723	12,198
Interest expense	445	460	419
Total costs and expenses	156,427	140,669	130,075

Railroad, Utilities and Energy
Total revenues	37,542	40,004	40,690

Cost of sales and operating expenses	26,194	27,650	29,378
Interest expense	2,642	2,653	2,378
Total costs and expenses	28,836	30,303	31,756

Finance and Financial Products
Sales and service revenues	6,208	5,430	5,094
Interest, dividend and other investment income	1,455	1,510	1,432
Investment gains/losses	2,425	10	72
Derivative gains/losses	751	974	506
Total revenues	10,839	7,924	7,104

Cost of sales and services	3,448	2,915	2,758
Selling, general and administrative expenses	1,739	1,586	1,523
Interest expense	410	402	456
Total costs and expenses	5,597	4,903	4,737

Class of Stock
Class A
Net earnings per share attributable to Berkshire Hathaway shareholders	14645 [1]	14656	12092
Average equivalent Class A shares outstanding	1,643,826	1,643,183	1,643,456
[1] 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 of the equivalent Class A amount or $9.76 for 2016, $9.77 for 2015 and $8.06 for 2014.

10-K.Info (Beta Test) Courtesy of Short Sands, LLC
BERKSHIRE HATHAWAY INC
Ticker: BRK Fiscal Year: 2016
Consolidated Statements of Comprehensive Income
Period Ending Dec 31, 2016 10-K (Filed: Feb 27, 2017)
(In Millions, except shares in actual)
	12 Months Ended	12 Months Ended	12 Months Ended
	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014
Net earnings	$ 24,427	24,414	20,170
Other comprehensive income:
Net change in unrealized appreciation of investments	13,858	(8,520)	5,831
Applicable income taxes	(4,846)	3,014	(2,062)
Reclassification of investment appreciation in net earnings	(6,820)	(2,332)	(3,360)
Applicable income taxes	2,387	816	1,176
Foreign currency translation	(1,541)	(1,931)	(2,032)
Applicable income taxes	66	(43)	183
Prior service cost and actuarial gains/losses of defined benefit pension plans	354	424	(1,703)
Applicable income taxes	(187)	(140)	624
Other, net	(17)	(94)	8
Other comprehensive income, net	3,254	(8,806)	(1,335)

Comprehensive income	27,681	15,608	18,835

Comprehensive income attributable to noncontrolling interests	291	275	256
Comprehensive income attributable to Berkshire Hathaway shareholders	27,390	15,333	18,579

10-K.Info (Beta Test) Courtesy of Short Sands, LLC
BERKSHIRE HATHAWAY INC
Ticker: BRK Fiscal Year: 2016
Consolidated Statements of Cash Flows
Period Ending Dec 31, 2016 10-K (Filed: Feb 27, 2017)
(In Millions, except shares in actual)
	12 Months Ended	12 Months Ended	12 Months Ended
	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014
Cash flows from operating activities:
Net earnings	$ 24,427	24,414	20,170
Adjustments to reconcile net earnings to operating cash flows:
Investment gains/losses	(7,553)	(9,373)	(3,575)
Depreciation and amortization	8,901	7,779	7,370
Other	(161)	751	(341)
Changes in operating assets and liabilities:
Losses and loss adjustment expenses	4,372	2,262	7,404
Deferred charges reinsurance assumed	(360)	84	(3,413)
Unearned premiums	968	1,392	1,159
Receivables and originated loans	(3,302)	(1,650)	(1,890)
Derivative contract assets and liabilities	(946)	(974)	(520)
Income taxes	4,044	5,718	4,905
Other	2,145	1,088	741
Net cash flows from operating activities	32,535	31,491	32,010

Cash flows from investing activities:
Purchases of U.S. Treasury Bills and fixed maturity securities	(96,568)	(17,891)	(12,562)
Purchases of equity securities	(16,508)	(10,220)	(10,014)
Purchase of Kraft Heinz common stock		(5,258)
Sales of U.S. Treasury Bills and fixed maturity securities	18,757	2,471	2,038
Redemptions and maturities of U.S. Treasury Bills and fixed maturity securities	26,177	14,656	10,285
Sales and redemptions of equity securities	28,464	8,747	8,896
Purchases of loans and finance receivables	(307)	(179)	(181)
Collections of loans and finance receivables	490	492	885
Acquisitions of businesses, net of cash acquired	(31,399)	(4,902)	(4,824)
Purchases of property, plant and equipment	(12,954)	(16,082)	(15,185)
Other	(419)	165	336
Net cash flows from investing activities	(84,267)	(28,001)	(20,326)

Cash flows from financing activities:
Changes in short term borrowings, net	130	(378)	932
Acquisitions of noncontrolling interests and other	112	(233)	(1,265)
Net cash flows from financing activities	12,791	3,803	2,731

Effects of foreign currency exchange rate changes	(172)	(165)	(289)
Increase (decrease) in cash and cash equivalents	(39,113)	7,128	14,126

Cash and cash equivalents:
Cash and cash equivalents at beginning of year	67,161	60,033
Cash and cash equivalents at end of year	28,048	67,161	60,033

Products and Services
Insurance and Other
Investment gains/losses	(5,128)	(9,363)	(3,503)
Proceeds from borrowings	9,431	3,358	845
Repayments of borrowings	(1,264)	(1,916)	(1,289)
Cash and cash equivalents at beginning of year	23,581	54,738	54,738
Cash and cash equivalents at end of year	23,581	54,738	54,738

Railroad, Utilities and Energy
Proceeds from borrowings	3,077	5,479	5,765
Repayments of borrowings	(2,123)	(1,725)	(1,862)
Cash and cash equivalents at beginning of year	3,939	3,001	3,001
Cash and cash equivalents at end of year	3,939	3,001	3,001

Finance and Financial Products
Investment gains/losses	(2,425)	(10)	(72)
Proceeds from borrowings	4,741	1,045	1,148
Repayments of borrowings	(1,313)	(1,827)	(1,543)
Cash and cash equivalents at beginning of year	528	2,294	2,294
Cash and cash equivalents at end of year	528	2,294	2,294

10-K.Info (Beta Test) Courtesy of Short Sands, LLC
BERKSHIRE HATHAWAY INC
Ticker: BRK Fiscal Year: 2016
Consolidated Balance Sheets
Period Ending Dec 31, 2016 10-K (Filed: Feb 27, 2017)
(In Millions, except shares in actual)
	As of	As of
	Dec 31, 2016	Dec 31, 2015
ASSETS
Cash and cash equivalents	$ 28,048	67,161
Investments in fixed maturity securities	23,465	26,027
Investments in equity securities	122,032 [1]	112,137 [2]
Inventories	15,727	11,916
Goodwill	79,486	62,708
Total assets	620,854	552,257

LIABILITIES AND SHAREHOLDERS' EQUITY
LIABILITIES
Income taxes, principally deferred	77,944	63,126
Losses and loss adjustment expenses	76,918	73,144
Total liabilities	334,495	293,630

Shareholders' equity:
Common stock	8	8
Capital in excess of par value	35,681	35,620
Accumulated other comprehensive income	37,298	33,982
Retained earnings	211,777	187,703
Treasury stock, at cost	(1,763)	(1,763)
Berkshire Hathaway shareholders' equity	283,001	255,550

Noncontrolling interests	3,358	3,077
Total shareholders' equity	286,359	258,627

Total liabilities and shareholders' equity	620,854	552,257

Products and Services
Insurance and Other
Cash and cash equivalents	23,581	56,612
U.S. Treasury Bills	47,338	4,569
Total cash, cash equivalents and U.S. Treasury Bills	70,919	61,181

Investments in fixed maturity securities	23,432	25,988
Investments in equity securities	120,471	110,527
Other investments	14,364	15,683
Investments in The Kraft Heinz Company (Fair Value: 2016 - $28,418, 2015 - $32,042)	15,345	23,424
Receivables	27,097	23,303
Inventories	15,727	11,916
Property, plant and equipment	19,325	15,540
Goodwill	53,994	37,188
Other intangible assets	33,481	9,148
Deferred charges reinsurance assumed	8,047	7,687
Other	7,126	6,697
Total assets	409,328	348,282

Losses and loss adjustment expenses	76,918	73,144
Unearned premiums	14,245	13,311
Life, annuity and health insurance benefits	15,977	14,497
Other policyholder liabilities	6,714	7,123
Accounts payable, accruals and other liabilities	22,164	17,879
Notes payable and other borrowings	27,175	14,599
Total liabilities	163,193	140,553

Railroad, Utilities and Energy
Cash and cash equivalents	3,939	3,437
Property, plant and equipment	123,759	120,279
Goodwill	24,111	24,178
Regulatory assets	4,457	4,285
Other	13,550	12,833
Total assets	169,816	165,012

Accounts payable, accruals and other liabilities	11,434	11,994
Regulatory liabilities	3,121	3,033
Notes payable and other borrowings	59,085	57,739
Total liabilities	73,640	72,766

Finance and Financial Products
Cash and cash equivalents	528	7,112
U.S. Treasury Bills	10,984
Total cash, cash equivalents and U.S. Treasury Bills	11,512	7,112

Investments in fixed maturity securities	33	39
Investments in equity and fixed maturity securities	408	411
Investments in equity securities	375	372
Other investments	2,892	5,719
Loans and finance receivables	13,300	12,772
Property, plant and equipment and assets held for lease	9,689	9,347
Goodwill	1,381	1,342
Other	2,528	2,260
Total assets	41,710	38,963

Accounts payable, accruals and other liabilities	1,444	1,398
Derivative contract liabilities	2,890	3,836
Notes payable and other borrowings	15,384	11,951
Total liabilities	19,718	17,185

[1] Approximately 56% of the aggregate fair value was concentrated in the equity securities of four companies (American Express Company-$11.2 billion; Wells Fargo & Company-$27.6 billion; International Business Machines Corporation ("IBM")-$13.5 billion; and The Coca-Cola Company-$16.6 billion).
[2] 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; IBM-$11.2 billion; and The Coca-Cola Company-$17.2 billion).

External Links
BERKSHIRE HATHAWAY INC (BRK) Fiscal Year 2016
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BERKSHIRE HATHAWAY INC

Ticker: BRK Fiscal Year: 2016

Consolidated Statements of Earnings

Period Ending Dec 31, 2016 10-K (Filed: Feb 27, 2017)

BERKSHIRE HATHAWAY INC

Ticker: BRK Fiscal Year: 2016

Consolidated Statements of Comprehensive Income

Period Ending Dec 31, 2016 10-K (Filed: Feb 27, 2017)

BERKSHIRE HATHAWAY INC

Ticker: BRK Fiscal Year: 2016

Consolidated Statements of Cash Flows

Period Ending Dec 31, 2016 10-K (Filed: Feb 27, 2017)

BERKSHIRE HATHAWAY INC

Ticker: BRK Fiscal Year: 2016

Consolidated Balance Sheets

Period Ending Dec 31, 2016 10-K (Filed: Feb 27, 2017)