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: 2019 | |||
Consolidated Statements of Earnings | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 24, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Revenues: | |||
| Sales and service revenues | $ 176,512 | 175,445 | |
| Total revenues | 254,616 | 247,837 | 239,933 |
| Investment and derivative contract gains (losses): | |||
| Investment gains (losses) | 71,123 | (22,155) | 1,410 |
| Derivative contract gains (losses) | 1,484 | (300) | 718 |
| Investment and derivative gains/losses | 72,607 | (22,455) | 2,128 |
| Costs and expenses: | |||
| Interest expense | 3,961 | 3,853 | 4,386 |
| Total costs and expenses | 225,703 | 219,214 | 221,237 |
| Earnings before income taxes and equity method earnings (losses) | 101,520 | 6,168 | 20,824 |
| Equity method earnings (losses) | 1,176 | (2,167) | 3,014 |
| Earnings before income taxes | 102,696 | 4,001 | 23,838 |
| Income tax expense (benefit) | 20,904 | (321) | (21,515) |
| Net earnings | 81,792 | 4,322 | 45,353 |
| Earnings attributable to noncontrolling interests | 375 | 301 | 413 |
| Net earnings attributable to Berkshire Hathaway shareholders | 81,417 | 4,021 | 44,940 |
| Product and Service | |||
| Insurance and Other | |||
| Insurance premiums earned | 61,078 | 57,418 | 60,597 |
| Sales and service revenues | 134,989 | 133,336 | 130,343 |
| Leasing revenues | 5,856 | 5,732 | 2,452 |
| Interest, dividend and other investment income | 9,240 | 7,678 | 6,536 |
| Total revenues | 211,163 | 204,164 | 199,928 |
| Insurance losses and loss adjustment expenses | 44,456 | 39,906 | 48,891 |
| Life, annuity and health insurance benefits | 4,986 | 5,699 | 5,618 |
| Insurance underwriting expenses | 11,200 | 9,793 | 9,321 |
| Cost of sales and services | 107,041 | 106,083 | 104,343 |
| Cost of leasing | 4,003 | 4,061 | 1,455 |
| Selling, general and administrative expenses | 19,322 | 18,238 | 19,189 |
| Interest expense | 1,056 | 1,035 | 1,132 |
| Total costs and expenses | 192,064 | 184,815 | 189,949 |
| Freight Rail Transportation | |||
| Total revenues | 23,357 | 23,703 | 21,080 |
| Expenses | 15,436 | 16,045 | 14,031 |
| Utilities and Energy | |||
| Sales and service revenues | 15,353 | 15,555 | 15,155 |
| Cost of sales and other expenses | 11,296 | 11,641 | 10,772 |
| Railroad, Utilities and Energy | |||
| Service revenues and other income | 4,743 | 4,415 | 3,770 |
| Total revenues | 43,453 | 43,673 | 40,005 |
| Other expenses | 4,002 | 3,895 | 3,231 |
| Interest expense | 2,905 | 2,818 | 3,254 |
| Total costs and expenses | 33,639 | 34,399 | 31,288 |
| Class of Stock | |||
| Equivalent Class A | |||
| Net earnings per average equivalent share | 49828 | 2446 | 27326 |
| Average equivalent shares outstanding | 1,633,946 | 1,643,795 | 1,644,615 |
| Equivalent Class B | |||
| Net earnings per average equivalent share | 33 | 2 | 18 [1] |
| Average equivalent shares outstanding | 2,450,919,020 | 2,465,692,368 | 2,466,923,163 |
| [1] Class B shares are economically equivalent to one-fifteen-hundredth of a Class A share. Accordingly, net earnings per average equivalent Class B share outstanding is equal to one-fifteen-hundredth of the equivalent Class A amount. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BERKSHIRE HATHAWAY INC | |||
Ticker: BRK Fiscal Year: 2019 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 24, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Net earnings | $ 81,792 | 4,322 | 45,353 |
| Other comprehensive income: | |||
| Net change in unrealized appreciation of investments | 204 | (185) | 30,450 |
| Applicable income taxes | (44) | 31 | (10,566) |
| Reclassification of investment appreciation in net earnings | (62) | (253) | (1,399) |
| Applicable income taxes | 13 | 53 | 490 |
| Foreign currency translation | 323 | (1,531) | 2,364 |
| Applicable income taxes | (28) | 62 | (95) |
| Prior service cost and actuarial gains/losses of defined benefit pension plans | (711) | (571) | 225 |
| Applicable income taxes | 155 | 143 | (45) |
| Other, net | (48) | (12) | (9) |
| Other comprehensive income, net | (198) | (2,263) | 21,415 |
| Comprehensive income | 81,594 | 2,059 | 66,768 |
| Comprehensive income attributable to noncontrolling interests | 405 | 249 | 555 |
| Comprehensive income attributable to Berkshire Hathaway shareholders | 81,189 | 1,810 | 66,213 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BERKSHIRE HATHAWAY INC | |||
Ticker: BRK Fiscal Year: 2019 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 24, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Cash flows from operating activities: | |||
| Net earnings | $ 81,792 | 4,322 | 45,353 |
| Adjustments to reconcile net earnings to operating cash flows: | |||
| Investment gains/losses | (71,123) | 22,155 | (1,410) |
| Depreciation and amortization | 10,064 | 9,779 | 9,188 |
| Other | (1,254) | 2,957 | 458 |
| Changes in operating assets and liabilities: | |||
| Losses and loss adjustment expenses | 6,087 | 3,449 | 25,027 |
| Deferred charges reinsurance assumed | 357 | 1,174 | (7,231) |
| Unearned premiums | 1,707 | 1,794 | 1,761 |
| Receivables and originated loans | (2,303) | (3,443) | (1,990) |
| Other assets | (2,011) | (1,832) | (1,665) |
| Other liabilities | 190 | 2,002 | 1,194 |
| Income taxes | 15,181 | (4,957) | (24,957) |
| Net cash flows from operating activities | 38,687 | 37,400 | 45,728 |
| Cash flows from investing activities: | |||
| Purchases of equity securities | (18,642) | (43,210) | (20,326) |
| Sales and redemptions of equity securities | 14,336 | 18,783 | 19,512 |
| Purchases of U.S. Treasury Bills and fixed maturity securities | (136,123) | (141,844) | (158,492) |
| Sales of U.S. Treasury Bills and fixed maturity securities | 15,929 | 39,693 | 49,327 |
| Redemptions and maturities of U.S. Treasury Bills and fixed maturity securities | 137,767 | 113,045 | 86,727 |
| Purchases of loans and finance receivables | (75) | (1,771) | (1,435) |
| Collections of loans and finance receivables | 345 | 342 | 1,702 |
| Acquisitions of businesses, net of cash acquired | (1,683) | (3,279) | (2,708) |
| Purchases of property, plant and equipment and equipment held for lease | (15,979) | (14,537) | (11,708) |
| Other | (1,496) | (71) | (3,608) |
| Net cash flows from investing activities | (5,621) | (32,849) | (41,009) |
| Cash flows from financing activities: | |||
| Changes in short term borrowings, net | 266 | (1,943) | 2,079 |
| Acquisition of treasury stock | (4,850) | (1,346) | |
| Other | (497) | (343) | (121) |
| Net cash flows from financing activities | 730 | (5,812) | (1,398) |
| Effects of foreign currency exchange rate changes | 25 | (140) | 248 |
| Increase (decrease) in cash and cash equivalents and restricted cash | 33,821 | (1,401) | 3,569 |
| Cash and cash equivalents and restricted cash at beginning of year | 30,811 | 32,212 | |
| Cash and cash equivalents and restricted cash at end of year | 64,632 | 30,811 | 32,212 |
| Restricted cash, included in other assets at end of year | 457 | 450 | 629 |
| Restricted Cash and Cash Equivalents, Asset, Statement of Financial Position [Extensible List] | us-gaap:OtherAssets | us-gaap:OtherAssets | us-gaap:OtherAssets |
| Product and Service | |||
| Insurance and Other | |||
| Proceeds from borrowings | 8,144 | 2,409 | 2,645 |
| Repayments of borrowings | (5,095) | (7,395) | (5,465) |
| Cash and cash equivalents at end of year | 61,151 | 27,749 | 28,673 |
| Railroad, Utilities and Energy | |||
| Proceeds from borrowings | 5,400 | 7,019 | 3,013 |
| Repayments of borrowings | (2,638) | (4,213) | (3,549) |
| Cash and cash equivalents at end of year | 3,024 | 2,612 | 2,910 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
BERKSHIRE HATHAWAY INC | ||
Ticker: BRK Fiscal Year: 2019 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2019 10-K (Filed: Feb 24, 2020) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2019 | Dec 31, 2018 | |
| ASSETS | ||
| Investments in fixed maturity securities | $ 18,685 | 19,898 |
| Investments in equity securities | 248,027 [1] | 172,757 [2] |
| Loans and finance receivables | 17,527 | 16,280 |
| Inventories | 19,852 | 19,069 |
| Equipment held for lease | 15,065 | 14,298 |
| Goodwill | 81,882 | 81,025 |
| Deferred charges under retroactive reinsurance contracts | 13,747 | 14,104 |
| Total assets | 817,729 | 707,794 |
| LIABILITIES AND SHAREHOLDERS EQUITY | ||
| LIABILITIES | ||
| Unpaid losses and loss adjustment expenses | 73,019 | 68,458 |
| Unpaid losses and loss adjustment expenses under retroactive reinsurance contracts | 42,441 | 41,834 |
| Income taxes, principally deferred | 66,799 | 51,375 |
| Total liabilities | 389,166 | 355,294 |
| Shareholders equity: | ||
| Common stock | 8 | 8 |
| Capital in excess of par value | 35,658 | 35,707 |
| Accumulated other comprehensive income | (5,243) | (5,015) |
| Retained earnings | 402,493 | 321,112 |
| Treasury stock, at cost | (8,125) | (3,109) |
| Berkshire Hathaway shareholders equity | 424,791 | 348,703 |
| Noncontrolling interests | 3,772 | 3,797 |
| Total shareholders equity | 428,563 | 352,500 |
| Total liabilities and shareholders' equity | 817,729 | 707,794 |
| Product and Service | ||
| Insurance and Other | ||
| Cash and cash equivalents | 61,151 | 27,749 |
| Short-term investments in U.S. Treasury Bills | 63,822 | 81,506 |
| Investments in fixed maturity securities | 18,685 | 19,898 |
| Investments in equity securities | 248,027 | 172,757 |
| Equity method investments | 17,505 | 17,325 |
| Loans and finance receivables | 17,527 | 16,280 |
| Other receivables | 32,418 | 31,564 |
| Inventories | 19,852 | 19,069 |
| Property, plant and equipment | 21,438 | 20,628 |
| Equipment held for lease | 15,065 | 14,298 |
| Goodwill | 57,052 | 56,323 |
| Other intangible assets | 31,051 | 31,499 |
| Deferred charges under retroactive reinsurance contracts | 13,747 | 14,104 |
| Other | 13,232 | 9,307 |
| Total assets | 630,572 | 532,307 |
| Unpaid losses and loss adjustment expenses | 73,019 | 68,458 |
| Unpaid losses and loss adjustment expenses under retroactive reinsurance contracts | 42,441 | 41,834 |
| Unearned premiums | 19,782 | 18,093 |
| Life, annuity and health insurance benefits | 20,155 | 18,632 |
| Other policyholder liabilities | 7,723 | 7,675 |
| Accounts payable, accruals and other liabilities | 27,611 | 25,776 |
| Derivative contract liabilities | 968 | 2,452 |
| Aircraft repurchase liabilities and unearned lease revenues | 5,281 | 4,593 |
| Notes payable and other borrowings | 37,590 | 34,975 |
| Total liabilities | 234,570 | 222,488 |
| Railroad, Utilities and Energy | ||
| Cash and cash equivalents | 3,024 | 2,612 |
| Receivables | 3,417 | 3,666 |
| Property, plant and equipment | 137,838 | 131,780 |
| Goodwill | 24,830 | 24,702 |
| Regulatory assets | 2,881 | 3,067 |
| Other | 15,167 | 9,660 |
| Total assets | 187,157 | 175,487 |
| Accounts payable, accruals and other liabilities | 14,708 | 11,410 |
| Regulatory liabilities | 7,311 | 7,506 |
| Notes payable and other borrowings | 65,778 | 62,515 |
| Total liabilities | 87,797 | 81,431 |
| [1] Approximately 67% of the aggregate fair value was concentrated in five companies (American Express Company $18.9 billion; Apple Inc. $73.7 billion; Bank of America Corporation $33.4 billion; The Coca-Cola Company $22.1 billion and Wells Fargo & Company $18.6 billion). | ||
| [2] Approximately 68% of the aggregate fair value was concentrated in five companies (American Express Company $14.5 billion; Apple Inc. $40.3 billion; Bank of America Corporation $22.6 billion; The Coca-Cola Company $18.9 billion and Wells Fargo & Company $20.7 billion). | ||
| External Links | |
| BERKSHIRE HATHAWAY INC (BRK) Fiscal Year 2019 | |
| 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 |