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: 2021 | |||
Consolidated Statements of Earnings | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 28, 2022) | |||
(In Millions, except shares in actual) | |||
12 Months Ended | 12 Months Ended | 12 Months Ended | |
Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
Revenues: | |||
Leasing revenues | $ 5,988 | 5,209 | 5,856 |
Total revenues | 276,094 | 245,510 | 254,616 |
Investment and derivative contract gains | 78,542 | 40,746 | 72,607 |
Costs and expenses: | |||
Interest expense | 4,172 | 4,083 | 3,961 |
Total costs and expenses | 243,945 | 231,289 | 225,703 |
Earnings before income taxes and equity method earnings | 110,691 | 54,967 | 101,520 |
Equity method earnings | 995 | 726 | 1,176 |
Earnings before income taxes | 111,686 | 55,693 | 102,696 |
Income tax expense | 20,879 | 12,440 | 20,904 |
Net earnings | 90,807 | 43,253 | 81,792 |
Earnings attributable to noncontrolling interests | 1,012 | 732 | 375 |
Net earnings attributable to Berkshire Hathaway shareholders | 89,795 | 42,521 | 81,417 |
Product and Service | |||
Insurance and Other | |||
Insurance premiums earned | 69,478 | 63,401 | 61,078 |
Sales and service revenues | 145,043 | 127,044 | 134,989 |
Leasing revenues | 5,988 | 5,209 | 5,856 |
Interest, dividend and other investment income | 7,465 | 8,092 | 9,240 |
Total revenues | 227,974 | 203,746 | 211,163 |
Insurance losses and loss adjustment expenses | 49,964 | 43,951 | 44,456 |
Life, annuity and health insurance benefits | 6,007 | 5,812 | 4,986 |
Insurance underwriting expenses | 12,569 | 12,798 | 11,200 |
Cost of sales and services | 114,138 | 101,091 | 107,041 |
Cost of leasing | 4,201 | 3,520 | 4,003 |
Selling, general and administrative expenses | 18,843 | 19,809 | 19,226 |
Goodwill and intangible asset impairments | 10,671 | 96 | |
Interest expense | 1,086 | 1,105 | 1,056 |
Total costs and expenses | 206,808 | 198,757 | 192,064 |
Railroad, Utilities and Energy | |||
Freight rail transportation revenues | 23,177 | 20,750 | 23,357 |
Energy operating revenues | 18,891 | 15,540 | 15,353 |
Service revenues and other income | 6,052 | 5,474 | 4,743 |
Total revenues | 48,120 | 41,764 | 43,453 |
Expenses | 14,477 | 13,120 | 15,436 |
Cost of sales and other expenses | 13,959 | 11,638 | 11,296 |
Other expenses | 5,615 | 4,796 | 4,002 |
Interest expense | 3,086 | 2,978 | 2,905 |
Total costs and expenses | 37,137 | 32,532 | 33,639 |
Class of Stock | |||
Equivalent Class A | |||
Net earnings per average equivalent share | 59460.00 | 26668.00 | 49828.00 |
Average equivalent shares outstanding | 1,510,180 | 1,594,469 | 1,633,946 |
Equivalent Class B | |||
Net earnings per average equivalent share | 39.64 | 17.78 | 33.22 [1] |
Average equivalent shares outstanding | 2,265,269,867 | 2,391,703,454 | 2,450,919,020 |
[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. See Note 21. |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BERKSHIRE HATHAWAY INC | |||
Ticker: BRK Fiscal Year: 2021 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 28, 2022) | |||
(In Millions, except shares in actual) | |||
12 Months Ended | 12 Months Ended | 12 Months Ended | |
Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
Net earnings | $ 90,807 | 43,253 | 81,792 |
Other comprehensive income: | |||
Unrealized appreciation of fixed maturity securities | (217) | 74 | 142 |
Applicable income taxes | 50 | (19) | (31) |
Foreign currency translation | (1,011) | 1,284 | 323 |
Applicable income taxes | (6) | 3 | (28) |
Defined benefit pension plans | 1,775 | (355) | (711) |
Applicable income taxes | (457) | 74 | 155 |
Other, net | 100 | (42) | (48) |
Other comprehensive income, net | 234 | 1,019 | (198) |
Comprehensive income | 91,041 | 44,272 | 81,594 |
Comprehensive income attributable to noncontrolling interests | 1,030 | 751 | 405 |
Comprehensive income attributable to Berkshire Hathaway shareholders | 90,011 | 43,521 | 81,189 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BERKSHIRE HATHAWAY INC | |||
Ticker: BRK Fiscal Year: 2021 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 28, 2022) | |||
(In Millions, except shares in actual) | |||
12 Months Ended | 12 Months Ended | 12 Months Ended | |
Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
Cash flows from operating activities: | |||
Net earnings | $ 90,807 | 43,253 | 81,792 |
Adjustments to reconcile net earnings to operating cash flows: | |||
Investment (gains) losses | (77,576) | (40,905) | (71,123) |
Depreciation and amortization | 10,718 | 10,596 | 10,064 |
Other, including asset impairment charges | (3,397) | 11,263 | (1,254) |
Changes in operating assets and liabilities: | |||
Unpaid losses and loss adjustment expenses | 4,595 | 4,819 | 6,087 |
Deferred charges - retroactive reinsurance | 1,802 | 1,307 | 357 |
Unearned premiums | 2,306 | 1,587 | 1,707 |
Receivables and originated loans | (5,834) | (1,609) | (2,303) |
Other assets | (1,686) | (1,109) | (2,011) |
Other liabilities | 2,389 | 3,376 | 190 |
Income taxes | 15,297 | 7,195 | 15,181 |
Net cash flows from operating activities | 39,421 | 39,773 | 38,687 |
Cash flows from investing activities: | |||
Purchases of equity securities | (8,448) | (30,161) | (18,642) |
Sales of equity securities | 15,849 | 38,756 | 14,336 |
Purchases of U.S. Treasury Bills and fixed maturity securities | (152,637) | (208,429) | (136,123) |
Sales of U.S. Treasury Bills and fixed maturity securities | 27,188 | 31,873 | 15,929 |
Redemptions and maturities of U.S. Treasury Bills and fixed maturity securities | 160,402 | 149,709 | 137,767 |
Purchases of loans and finance receivables | (88) | (772) | (75) |
Collections of loans and finance receivables | 561 | 393 | 345 |
Acquisitions of businesses, net of cash acquired | (456) | (2,532) | (1,683) |
Purchases of property, plant and equipment and equipment held for lease | (13,276) | (13,012) | (15,979) |
Other | 297 | (3,582) | (1,496) |
Net cash flows from investing activities | 29,392 | (37,757) | (5,621) |
Cash flows from financing activities: | |||
Changes in short term borrowings, net | (624) | (1,118) | 266 |
Acquisition of treasury stock | (27,061) | (24,706) | (4,850) |
Other | (695) | (429) | (497) |
Net cash flows from financing activities | (28,508) | (18,344) | 730 |
Effects of foreign currency exchange rate changes | 5 | 92 | 25 |
Increase (decrease) in cash and cash equivalents and restricted cash | 40,310 | (16,236) | 33,821 |
Cash and cash equivalents and restricted cash at beginning of year | 48,396 | 64,632 | |
Cash and cash equivalents and restricted cash at end of year | 88,706 | 48,396 | 64,632 |
Restricted cash, included in other assets at end of year | 522 | 406 | 457 |
Restricted Cash and Cash Equivalents, Statement of Financial Position [Extensible Enumeration] | http://fasb.org/us-gaap/2021-01-31#OtherAssets | http://fasb.org/us-gaap/2021-01-31#OtherAssets | http://fasb.org/us-gaap/2021-01-31#OtherAssets |
Product and Service | |||
Insurance and Other | |||
Proceeds from borrowings | 2,961 | 5,925 | 8,144 |
Repayments of borrowings | (3,032) | (2,700) | (5,095) |
Cash and cash equivalents at end of year | 85,319 | 44,714 | 61,151 |
Railroad, Utilities and Energy | |||
Proceeds from borrowings | 3,959 | 8,445 | 5,400 |
Repayments of borrowings | (4,016) | (3,761) | (2,638) |
Cash and cash equivalents at end of year | 2,865 [1] | 3,276 | 3,024 |
[1] Includes U.S. Treasury Bills with maturities of three months or less when purchased of $61.7 billion at December 31, 2021 and $23.2 billion at December 31, 2020. |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
BERKSHIRE HATHAWAY INC | ||
Ticker: BRK Fiscal Year: 2021 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2021 10-K (Filed: Feb 28, 2022) | ||
(In Millions, except shares in actual) | ||
As of | As of | |
Dec 31, 2021 | Dec 31, 2020 | |
ASSETS | ||
Investments in fixed maturity securities | $ 16,434 | 20,410 |
Investments in equity securities | 350,719 [1] | 281,170 [2] |
Loans and finance receivables | 20,751 | 19,201 |
Inventories | 20,954 | 19,208 |
Equipment held for lease | 14,918 | 14,601 |
Goodwill | 73,875 [3] | 73,734 |
Deferred charges - retroactive reinsurance | 10,639 | 12,441 |
Total assets | 958,784 | 873,729 |
LIABILITIES AND SHAREHOLDERS EQUITY | ||
LIABILITIES | ||
Unpaid losses and loss adjustment expenses | 86,664 | 79,854 |
Unpaid losses and loss adjustment expenses under retroactive reinsurance contracts | 38,256 | 40,966 |
Income taxes, principally deferred | 90,243 | 74,098 |
Total liabilities | 443,854 | 422,393 |
Shareholders equity: | ||
Common stock | 8 | 8 |
Capital in excess of par value | 35,592 | 35,626 |
Accumulated other comprehensive income | (4,027) | (4,243) |
Retained earnings | 534,421 | 444,626 |
Treasury stock, at cost | (59,795) | (32,853) |
Berkshire Hathaway shareholders equity | 506,199 | 443,164 |
Noncontrolling interests | 8,731 | 8,172 |
Total shareholders equity | 514,930 | 451,336 |
Total liabilities and shareholders' equity | 958,784 | 873,729 |
Product and Service | ||
Insurance and Other | ||
Cash and cash equivalents | 85,319 | 44,714 |
Short-term investments in U.S. Treasury Bills | 58,535 | 90,300 |
Investments in fixed maturity securities | 16,434 | 20,410 |
Investments in equity securities | 350,719 | 281,170 |
Equity method investments | 17,375 | 17,303 |
Loans and finance receivables | 20,751 | 19,201 |
Other receivables | 35,388 | 32,310 |
Inventories | 20,954 | 19,208 |
Property, plant and equipment | 20,834 | 21,200 |
Equipment held for lease | 14,918 | 14,601 |
Goodwill | 47,117 | 47,121 |
Other intangible assets | 28,486 | 29,462 |
Deferred charges - retroactive reinsurance | 10,639 | 12,441 |
Other | 15,854 | 14,580 |
Total assets | 743,323 | 664,021 |
Unpaid losses and loss adjustment expenses | 86,664 | 79,854 |
Unpaid losses and loss adjustment expenses under retroactive reinsurance contracts | 38,256 | 40,966 |
Unearned premiums | 23,512 | 21,395 |
Life, annuity and health insurance benefits | 22,452 | 21,616 |
Other policyholder liabilities | 9,330 | 8,670 |
Accounts payable, accruals and other liabilities | 30,376 | 30,344 |
Aircraft repurchase liabilities and unearned lease revenues | 5,849 | 5,856 |
Notes payable and other borrowings | 39,272 | 41,522 |
Total liabilities | 255,711 | 250,223 |
Railroad, Utilities and Energy | ||
Cash and cash equivalents | 2,865 [4] | 3,276 |
Receivables | 4,177 | 3,542 |
Property, plant and equipment | 155,530 | 151,216 |
Goodwill | 26,758 | 26,613 |
Other intangible assets | 1,151 | 1,222 |
Regulatory assets | 3,963 | 3,440 |
Other | 22,168 | 21,621 |
Total assets | 215,461 | 209,708 |
Accounts payable, accruals and other liabilities | 15,696 | 15,224 |
Regulatory liabilities | 7,214 | 7,475 |
Notes payable and other borrowings | 74,990 | 75,373 |
Total liabilities | 97,900 | 98,072 |
[1] Approximately 73% of the aggregate fair value was concentrated in four companies (American Express Company $24.8 billion; Apple Inc. $161.2 billion; Bank of America Corporation $46.0 billion and The Coca-Cola Company $23.7 billion). | ||
[2] Approximately 68% of the aggregate fair value was concentrated in four companies (American Express Company $18.3 billion; Apple Inc. $120.4 billion; Bank of America Corporation $31.3 billion and The Coca-Cola Company $21.9 billion). | ||
[3] Net of accumulated goodwill impairments of $11.0 billion as of December 31, 2021 and 2020. | ||
[4] Includes U.S. Treasury Bills with maturities of three months or less when purchased of $61.7 billion at December 31, 2021 and $23.2 billion at December 31, 2020. |
External Links | |
BERKSHIRE HATHAWAY INC (BRK) Fiscal Year 2021 | |
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 |