BERKSHIRE HATHAWAY INC

Listed Company

BRK-BCIK 0001067983NYSELarge AcceleratedFire, Marine & Casualty InsuranceDelawareFY ends Dec 31

Period

FY 2025

Revenue

$371.44B

Net Income

$66.97B

Total Assets

$1.22T

Equity

$717.42B

Shares Out

941.5K

Op. Cash Flow

$45.97B

+ 13F Filer

Business

BERKSHIRE HATHAWAY INC is a diversified holding company owning subsidiaries engaged primarily in insurance and reinsurance, freight rail transportation, regulated utilities and energy generation and distribution, as well as manufacturing, service and retail operations. It provides insurance and reinsurance products, freight rail transportation, electric and natural gas utility services, manufactured building and industrial products, consumer goods, real estate brokerage, travel centers, distribution and aviation services. Its principal business segments include Insurance (primary and reinsurance), Burlington Northern Santa Fe, Berkshire Hathaway Energy, Manufacturing, Services and Retailing. Berkshire operates globally with a concentration in the U.S., distributing products and services through agents and brokers, direct response channels, wholesale and retail networks, dealers, franchise systems and digital platforms.

Summary from filing dated 2025-02-24

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Leasing revenues	10,034	9,227	8,416	7,514	5,988
Total revenues	371,444	371,433	364,482	302,020	276,185
Investment gains (losses)	39,078	52,799	74,855	−67,899	—
Interest expense	5,069	5,200	5,003	4,352	4,172
Total costs and expenses	318,473	315,697	321,144	266,484	243,752
Earnings before income taxes and equity method earnings	92,049	108,535	118,193	−32,363	110,975
Equity method earnings (losses)	−9,590	1,841	1,973	1,863	886
Earnings before income taxes	82,459	110,376	120,166	−30,500	111,861
Income tax expense	15,199	20,815	23,019	−8,502	20,912
Net earnings	67,260	89,561	97,147	−21,998	90,949
Earnings attributable to noncontrolling interests	292	566	924	761	1,012
Net earnings attributable to Berkshire shareholders	66,968	88,995	96,223	−22,759	89,937

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Investments in fixed maturity securities	17,816	15,364	23,758	25,128	16,434
Investments in equity securities	297,778	271,588	353,842	308,793	350,719
Equity method investments	19,978	31,134	29,066	28,050	16,045
Loans and finance receivables	29,836	27,798	24,681	23,208	20,751
Inventories	24,424	24,008	25,856	25,366	20,954
Equipment held for lease	18,535	17,828	16,947	15,584	14,918
Goodwill	83,074	83,880	84,626	78,119	73,875
Total assets	1,222,176	1,153,881	1,069,978	948,465	959,388
Life, annuity and health insurance benefits	17,890	17,616	20,213	19,753	27,295
Payable for purchase of U.S. Treasury Bills	167	12,800	—	—	—
Income taxes, principally deferred	86,955	85,870	93,009	77,368	90,243
Total liabilities	502,473	502,226	499,208	466,784	—
Common stock at par value	8	8	8	8	8
Capital in excess of par value	35,612	35,665	34,480	35,167	35,592
Accumulated other comprehensive income	−2,448	−3,584	−3,763	−5,052	−4,027
Retained earnings	763,186	696,218	607,350	511,127	534,421
Treasury stock, at cost	−78,939	−78,939	−76,802	−67,826	−59,795
Berkshire shareholders' equity	717,419	649,368	561,273	473,424	506,199
Noncontrolling interests	2,284	2,287	6,236	8,257	8,731
Total shareholders equity	719,703	651,655	567,509	481,681	510,299
Total liabilities and shareholders' equity	1,222,176	1,153,881	1,069,978	948,465	958,784

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	13,476	12,855	12,486	10,899	10,718
Discount accretion on investments, principally U.S. Treasury Bills	−11,964	−11,349	−5,510	−1,132	—
Equity method investment impairment losses	10,681	—	—	—	—
Other	3,239	−892	−513	−3,074	−3,382
Unpaid losses and loss adjustment expenses	3,088	2,173	2,628	4,057	4,194
Deferred charges - retroactive reinsurance	693	698	375	769	1,802
Unearned insurance premiums	432	376	1,854	1,861	2,306
Receivables and originated loans	−2,426	626	−1,949	−5,621	−5,864
Other assets	−861	−206	98	−378	154
Other liabilities	429	−2,288	2,570	1,719	2,658
Income taxes	1,000	−8,163	14,865	−12,872	15,330
Net cash flows from operating activities	45,969	30,592	49,196	37,350	39,427
Purchases of equity securities	−16,923	−9,237	−16,462	−67,930	−8,448
Sales of equity securities	30,700	143,400	40,600	33,700	15,800
Purchases of U.S. Treasury Bills and fixed maturity securities	−586,129	−526,842	−235,007	−183,922	−152,637
Sales of U.S. Treasury Bills and fixed maturity securities	44,769	48,462	52,302	90,088	27,188
Redemptions and maturities of U.S. Treasury Bills and fixed maturity securities	503,954	353,538	153,201	66,318	160,402
Acquisitions of businesses, net of cash acquired	−1,074	−396	−8,604	−10,594	−456
Purchases of property, plant and equipment and equipment held for lease	−20,927	−18,976	−19,409	−15,464	−13,276
Other	1,157	−195	685	239	770
Net cash flows from investing activities	−44,487	−10,287	−32,663	−87,601	29,392
Changes in short term borrowings, net	878	−3,059	2,407	−596	−624
Acquisitions of treasury stock	—	−2,918	−9,171	−7,854	−27,061
Other, principally transactions with noncontrolling interests	−793	−5,622	−4,147	−1,979	−695
Net cash flows from financing activities	2,233	−10,360	−14,405	−1,662	−28,508
Effects of foreign currency exchange rate changes	478	−212	116	−394	−1
Increase in cash and cash equivalents and restricted cash	4,193	9,733	2,244	−52,307	40,310

Filings

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Holdings (13F)

Portfolio as of 2026-01-14 · 176 positions

Reported AUM

$363.55B

Holdings

176

Top sector

$363.55B

Top sectors

Sector	Value	% of portfolio
Uncategorized	$363.55B	100.0%

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