BERKSHIRE HATHAWAY INC Revenue Disclosure
The following table summarizes customer contract revenues disaggregated by reportable segment and the source of the revenue for each of the three years ended December 31, 2025 (in millions). Other revenues, which are not considered to be revenues from contracts with customers under GAAP, are primarily insurance premiums earned, interest, dividend and other investment income and leasing revenues.
Notes to Consolidated Financial Statements
2025 |
|
BNSF |
|
BHE |
|
Manufacturing |
|
Service |
|
Pilot* |
|
McLane |
|
Insurance, |
|
Total |
|
||||||||
Manufactured products: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Industrial and commercial |
|
$ |
— |
|
$ |
— |
|
$ |
30,145 |
|
$ |
191 |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
30,336 |
|
Building |
|
|
— |
|
|
— |
|
|
19,609 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
19,609 |
|
Consumer |
|
|
— |
|
|
— |
|
|
17,919 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
17,919 |
|
Grocery and convenience store distribution |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
30,697 |
|
|
— |
|
|
30,697 |
|
Food and beverage distribution |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
18,585 |
|
|
— |
|
|
18,585 |
|
Auto sales |
|
|
— |
|
|
— |
|
|
— |
|
|
11,283 |
|
|
— |
|
|
— |
|
|
— |
|
|
11,283 |
|
Other retail and wholesale distribution |
|
|
— |
|
|
— |
|
|
3,697 |
|
|
15,290 |
|
|
41,611 |
|
|
— |
|
|
— |
|
|
60,598 |
|
Service |
|
|
23,256 |
|
|
4,013 |
|
|
1,460 |
|
|
6,987 |
|
|
266 |
|
|
897 |
|
|
— |
|
|
36,879 |
|
Electricity and natural gas |
|
|
— |
|
|
21,338 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
21,338 |
|
Total |
|
|
23,256 |
|
|
25,351 |
|
|
72,830 |
|
|
33,751 |
|
|
41,877 |
|
|
50,179 |
|
|
— |
|
|
247,244 |
|
Other revenues |
|
|
185 |
|
|
931 |
|
|
5,560 |
|
|
8,809 |
|
|
289 |
|
|
36 |
|
|
108,390 |
|
|
124,200 |
|
|
|
$ |
23,441 |
|
$ |
26,282 |
|
$ |
78,390 |
|
$ |
42,560 |
|
$ |
42,166 |
|
$ |
50,215 |
|
$ |
108,390 |
|
$ |
371,444 |
|
2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Manufactured products: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Industrial and commercial |
|
$ |
— |
|
$ |
— |
|
$ |
28,907 |
|
$ |
210 |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
29,117 |
|
Building |
|
|
— |
|
|
— |
|
|
19,892 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
19,892 |
|
Consumer |
|
|
— |
|
|
— |
|
|
18,204 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
18,204 |
|
Grocery and convenience store distribution |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
31,841 |
|
|
— |
|
|
31,841 |
|
Food and beverage distribution |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
18,068 |
|
|
— |
|
|
18,068 |
|
Auto sales |
|
|
— |
|
|
— |
|
|
— |
|
|
10,802 |
|
|
— |
|
|
— |
|
|
— |
|
|
10,802 |
|
Other retail and wholesale distribution |
|
|
— |
|
|
— |
|
|
3,390 |
|
|
15,035 |
|
|
46,433 |
|
|
— |
|
|
— |
|
|
64,858 |
|
Service |
|
|
23,278 |
|
|
4,059 |
|
|
1,570 |
|
|
5,761 |
|
|
274 |
|
|
999 |
|
|
— |
|
|
35,941 |
|
Electricity and natural gas |
|
|
— |
|
|
20,991 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
20,991 |
|
Total |
|
|
23,278 |
|
|
25,050 |
|
|
71,963 |
|
|
31,808 |
|
|
46,707 |
|
|
50,908 |
|
|
— |
|
|
249,714 |
|
Other revenues |
|
|
212 |
|
|
1,250 |
|
|
5,185 |
|
|
7,975 |
|
|
149 |
|
|
178 |
|
|
106,770 |
|
|
121,719 |
|
|
|
$ |
23,490 |
|
$ |
26,300 |
|
$ |
77,148 |
|
$ |
39,783 |
|
$ |
46,856 |
|
$ |
51,086 |
|
$ |
106,770 |
|
$ |
371,433 |
|
2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Manufactured products: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Industrial and commercial |
|
$ |
— |
|
$ |
— |
|
$ |
28,066 |
|
$ |
233 |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
28,299 |
|
Building |
|
|
— |
|
|
— |
|
|
20,119 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
20,119 |
|
Consumer |
|
|
— |
|
|
— |
|
|
17,702 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
17,702 |
|
Grocery and convenience store distribution |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
31,524 |
|
|
— |
|
|
31,524 |
|
Food and beverage distribution |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
19,040 |
|
|
— |
|
|
19,040 |
|
Auto sales |
|
|
— |
|
|
— |
|
|
— |
|
|
10,747 |
|
|
— |
|
|
— |
|
|
— |
|
|
10,747 |
|
Other retail and wholesale distribution |
|
|
— |
|
|
— |
|
|
3,289 |
|
|
16,289 |
|
|
51,197 |
|
|
— |
|
|
— |
|
|
70,775 |
|
Service |
|
|
23,724 |
|
|
4,055 |
|
|
1,457 |
|
|
5,474 |
|
|
264 |
|
|
1,079 |
|
|
— |
|
|
36,053 |
|
Electricity and natural gas |
|
|
— |
|
|
20,647 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
20,647 |
|
Total |
|
|
23,724 |
|
|
24,702 |
|
|
70,633 |
|
|
32,743 |
|
|
51,461 |
|
|
51,643 |
|
|
— |
|
|
254,906 |
|
Other revenues |
|
|
67 |
|
|
1,258 |
|
|
4,650 |
|
|
7,136 |
|
|
203 |
|
|
171 |
|
|
96,091 |
|
|
109,576 |
|
|
|
$ |
23,791 |
|
$ |
25,960 |
|
$ |
75,283 |
|
$ |
39,879 |
|
$ |
51,664 |
|
$ |
51,814 |
|
$ |
96,091 |
|
$ |
364,482 |
|
——————
* Revenues from Pilot are principally fuel sales. Revenues in 2023 are for the eleven months ending December 31.
A summary of transaction prices allocated to the significant unsatisfied remaining performance obligations related to contracts with expected durations exceeding one year as of December 31, 2025 and the timing of when the performance obligations are expected to be satisfied follows (in millions).
|
|
Less than |
|
|
Greater than |
|
|
Total |
|
|||
|
$ |
3,261 |
|
|
$ |
18,107 |
|
|
$ |
21,368 |
|
|
|
|
3,833 |
|
|
|
9,754 |
|
|
|
13,587 |
|
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 2, 2026 | Showing above |
| 2024 | Feb 24, 2025 | |
| 2023 | Feb 26, 2024 | |
| 2022 | Feb 27, 2023 | |
| 2021 | Feb 28, 2022 | |
| 2020 | Mar 1, 2021 | |
| 2019 | Feb 24, 2020 | |
| 2018 | Feb 25, 2019 | |
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.