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: 2022 | |||
Consolidated Statements of Earnings | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 27, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Revenues: | |||
| Leasing revenues | $ 7,514 | 5,988 | 5,209 |
| Total revenues | 302,089 | 276,203 | 245,579 |
| Investment and derivative contract gains (losses) | (67,899) | 78,542 | 40,746 |
| Costs and expenses: | |||
| Goodwill and intangible asset impairments | 10,671 | ||
| Interest expense | 4,352 | 4,172 | 4,083 |
| Total costs and expenses | 266,629 | 243,945 | 231,289 |
| Earnings (loss) before income taxes and equity method earnings | (32,439) | 110,800 | 55,036 |
| Equity method earnings | 1,863 | 886 | 657 |
| Earnings (loss) before income taxes | (30,576) | 111,686 | 55,693 |
| Income tax expense (benefit) | (8,518) | 20,879 | 12,440 |
| Net earnings (loss) | (22,058) | 90,807 | 43,253 |
| Earnings (loss) attributable to noncontrolling interests | 761 | 1,012 | 732 |
| Net earnings (loss) attributable to Berkshire Hathaway shareholders | (22,819) | 89,795 | 42,521 |
| Earnings per share: | |||
| Product and Service | |||
| Insurance and Other | |||
| Insurance premiums earned | 74,645 | 69,478 | 63,401 |
| Sales and service revenues | 157,518 | 145,043 | 127,044 |
| Leasing revenues | 7,514 | 5,988 | 5,209 |
| Interest, dividend and other investment income | 10,263 | 7,465 | 8,092 |
| Total revenues | 249,940 | 227,974 | 203,746 |
| Insurance losses and loss adjustment expenses | 57,646 | 49,964 | 43,951 |
| Life, annuity and health insurance benefits | 5,152 | 6,007 | 5,812 |
| Insurance underwriting expenses | 11,942 | 12,569 | 12,798 |
| Cost of sales and services | 124,319 | 114,138 | 101,091 |
| Cost of leasing | 5,550 | 4,201 | 3,520 |
| Selling, general and administrative expenses | 19,506 | 18,843 | 19,809 |
| Goodwill and intangible asset impairments | 10,671 | ||
| Interest expense | 1,187 | 1,086 | 1,105 |
| Total costs and expenses | 225,302 | 206,808 | 198,757 |
| Railroad, Utilities and Energy | |||
| Freight rail transportation revenues | 25,802 | 23,177 | 20,750 |
| Energy operating revenues | 21,023 | 18,891 | 15,540 |
| Service revenues and other income | 5,324 | 6,161 | 5,543 |
| Total revenues | 52,149 | 48,229 | 41,833 |
| Expenses | 17,282 | 14,477 | 13,120 |
| Cost of sales and other expenses | 15,896 | 13,959 | 11,638 |
| Other expenses | 4,984 | 5,615 | 4,796 |
| Interest expense | 3,165 | 3,086 | 2,978 |
| Total costs and expenses | 41,327 | 37,137 | 32,532 |
| Class of Stock | |||
| Equivalent Class A | |||
| Net earnings (loss) per average equivalent | (15535.00) | 59460.00 | 26668.00 |
| Average equivalent shares outstanding | 1,468,876 | 1,510,180 | 1,594,469 |
| Equivalent Class B | |||
| Net earnings (loss) per average equivalent | (10.36) | 39.64 [1] | 17.78 |
| Average equivalent shares outstanding | 2,203,313,642 | 2,265,269,867 | 2,391,703,454 |
| [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: 2022 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 27, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Net earnings | $ (22,058) | 90,807 | 43,253 |
| Other comprehensive income: | |||
| Unrealized gains (losses) on investments | (713) | (217) | 74 |
| Applicable income taxes | 158 | 50 | (19) |
| Foreign currency translation | (2,136) | (1,011) | 1,284 |
| Applicable income taxes | 22 | (6) | 3 |
| Defined benefit pension plans | (253) | 1,775 | (355) |
| Applicable income taxes | 47 | (457) | 74 |
| Other, net | 250 | 100 | (42) |
| Other comprehensive income, net | (2,625) | 234 | 1,019 |
| Comprehensive income | (24,683) | 91,041 | 44,272 |
| Comprehensive income attributable to noncontrolling interests | 700 | 1,030 | 751 |
| Comprehensive income attributable to Berkshire Hathaway shareholders | (25,383) | 90,011 | 43,521 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BERKSHIRE HATHAWAY INC | |||
Ticker: BRK Fiscal Year: 2022 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 27, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Cash flows from operating activities: | |||
| Net earnings (loss) | $ (22,058) | 90,807 | 43,253 |
| Adjustments to reconcile net earnings (loss) to operating cash flows: | |||
| Investment (gains) losses | 67,623 | (77,576) | (40,905) |
| Depreciation and amortization | 10,899 | 10,718 | 10,596 |
| Other | (4,324) | (3,397) | 11,263 |
| Changes in operating assets and liabilities: | |||
| Unpaid losses and loss adjustment expenses | 4,057 | 4,194 | 4,476 |
| Deferred charges - retroactive reinsurance | 769 | 1,802 | 1,307 |
| Unearned premiums | 1,861 | 2,306 | 1,587 |
| Receivables and originated loans | (5,592) | (5,834) | (1,609) |
| Inventories | (4,779) | (1,862) | 681 |
| Other assets | (373) | 176 | (1,790) |
| Other liabilities | 2,033 | 2,790 | 3,719 |
| Income taxes | (12,892) | 15,297 | 7,195 |
| Net cash flows from operating activities | 37,224 | 39,421 | 39,773 |
| Cash flows from investing activities: | |||
| Purchases of equity securities | (67,930) | (8,448) | (30,161) |
| Sales of equity securities | 33,664 | 15,849 | 38,756 |
| Purchases of U.S. Treasury Bills and fixed maturity securities | (183,922) | (152,637) | (208,429) |
| Sales of U.S. Treasury Bills and fixed maturity securities | 90,088 | 27,188 | 31,873 |
| Redemptions and maturities of U.S. Treasury Bills and fixed maturity securities | 66,318 | 160,402 | 149,709 |
| Acquisitions of businesses, net of cash acquired | (10,594) | (456) | (2,532) |
| Purchases of property, plant and equipment and equipment held for lease | (15,464) | (13,276) | (13,012) |
| Other | 239 | 770 | (3,961) |
| Net cash flows from investing activities | (87,601) | 29,392 | (37,757) |
| Cash flows from financing activities: | |||
| Changes in short term borrowings, net | (596) | (624) | (1,118) |
| Acquisition of treasury stock | (7,854) | (27,061) | (24,706) |
| Other, principally transactions with noncontrolling interests | (1,979) | (695) | (429) |
| Net cash flows from financing activities | (1,662) | (28,508) | (18,344) |
| Effects of foreign currency exchange rate changes | (268) | 5 | 92 |
| Increase (decrease) in cash and cash equivalents and restricted cash | (52,307) | 40,310 | (16,236) |
| Cash and cash equivalents and restricted cash at beginning of year | 88,706 | 48,396 | |
| Cash and cash equivalents and restricted cash at end of year | 36,399 | 88,706 | 48,396 |
| Restricted cash, included in other assets at end of year | 588 | 522 | 406 |
| Restricted Cash and Cash Equivalents, Statement of Financial Position [Extensible Enumeration] | http://fasb.org/us-gaap/2022#OtherAssets | http://fasb.org/us-gaap/2022#OtherAssets | http://fasb.org/us-gaap/2022#OtherAssets |
| Product and Service | |||
| Insurance and Other | |||
| Proceeds from borrowings | 7,822 | 2,961 | 5,925 |
| Repayments of borrowings | (1,502) | (3,032) | (2,700) |
| Cash and cash equivalents at end of year | 32,260 | 85,319 | 44,714 |
| Railroad, Utilities and Energy | |||
| Proceeds from borrowings | 4,873 | 3,959 | 8,445 |
| Repayments of borrowings | (2,426) | (4,016) | (3,761) |
| Cash and cash equivalents at end of year | 3,551 [1] | 2,865 | 3,276 |
| [1] Includes U.S. Treasury Bills with maturities of three months or less when purchased of $2.6 billion at December 31, 2022 and $61.7 billion at December 31, 2021. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
BERKSHIRE HATHAWAY INC | ||
Ticker: BRK Fiscal Year: 2022 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2022 10-K (Filed: Feb 27, 2023) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2022 | Dec 31, 2021 | |
| ASSETS | ||
| Investments in fixed maturity securities | $ 25,128 | 16,434 |
| Investments in equity securities | 308,793 | 350,719 |
| Equity method investments | 28,050 | 16,045 |
| Loans and finance receivables | 23,208 | 20,751 |
| Inventories | 25,366 | 20,954 |
| Equipment held for lease | 15,584 | 14,918 |
| Goodwill | 78,119 | 73,875 [1] |
| Total assets | 948,452 | 958,784 |
| LIABILITIES AND SHAREHOLDERS EQUITY | ||
| LIABILITIES | ||
| Income taxes, principally deferred | 77,020 | 90,243 |
| Total liabilities | 467,835 | 443,854 |
| Shareholders equity: | ||
| Common stock | 8 | 8 |
| Capital in excess of par value | 35,167 | 35,592 |
| Accumulated other comprehensive income | (6,591) | (4,027) |
| Retained earnings | 511,602 | 534,421 |
| Treasury stock, at cost | (67,826) | (59,795) |
| Berkshire Hathaway shareholders equity | 472,360 | 506,199 |
| Noncontrolling interests | 8,257 | 8,731 |
| Total shareholders equity | 480,617 | 514,930 |
| Total liabilities and shareholders' equity | 948,452 | 958,784 |
| Product and Service | ||
| Insurance and Other | ||
| Cash and cash equivalents | 32,260 | 85,319 |
| Short-term investments in U.S. Treasury Bills | 92,774 | 58,535 |
| Investments in fixed maturity securities | 25,128 | 16,434 |
| Investments in equity securities | 308,793 | 350,719 |
| Equity method investments | 28,050 | 16,045 |
| Loans and finance receivables | 23,208 | 20,751 |
| Other receivables | 43,506 | 35,388 |
| Inventories | 25,366 | 20,954 |
| Property, plant and equipment | 21,113 | 20,834 |
| Equipment held for lease | 15,584 | 14,918 |
| Goodwill | 51,522 | 47,117 |
| Other intangible assets | 29,187 | 28,486 |
| Deferred charges - retroactive reinsurance | 9,870 | 10,639 |
| Other | 19,628 | 15,854 |
| Total assets | 725,989 | 741,993 |
| Unpaid losses and loss adjustment expenses | 107,472 | 86,664 |
| Unpaid losses and loss adjustment expenses under retroactive reinsurance contracts | 35,415 | 37,855 |
| Unearned premiums | 28,657 | 23,512 |
| Life, annuity and health insurance benefits | 22,421 | 22,282 |
| Other policyholder liabilities | 10,101 | 9,901 |
| Accounts payable, accruals and other liabilities | 33,201 | 30,376 |
| Aircraft repurchase liabilities and unearned lease revenues | 6,820 | 5,849 |
| Notes payable and other borrowings | 46,538 | 39,272 |
| Total liabilities | 290,625 | 255,711 |
| Railroad, Utilities and Energy | ||
| Cash and cash equivalents | 3,551 [2] | 2,865 |
| Receivables | 4,795 | 4,177 |
| Property, plant and equipment | 160,268 | 155,530 |
| Goodwill | 26,597 | 26,758 |
| Regulatory assets | 5,062 | 3,963 |
| Other | 22,190 | 23,498 |
| Total assets | 222,463 | 216,791 |
| Accounts payable, accruals and other liabilities | 16,615 | 15,696 |
| Regulatory liabilities | 7,369 | 7,214 |
| Notes payable and other borrowings | 76,206 | 74,990 |
| Total liabilities | 100,190 | 97,900 |
| [2] Includes U.S. Treasury Bills with maturities of three months or less when purchased of $2.6 billion at December 31, 2022 and $61.7 billion at December 31, 2021. | ||
| [1] Net of accumulated goodwill impairments of $11.0 billion as of December 31, 2022 and 2021 | ||
| External Links | |
| BERKSHIRE HATHAWAY INC (BRK) Fiscal Year 2022 | |
| 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 |