EX-12.1 10 dex121.txt STATEMENT REGARDING CALCULATION OF RATIO EXHIBIT 12.1 Berkshire Hathaway Inc. Statement Regarding Calculation of Ratio of Consolidated Earnings to Consolidated Fixed Charges (Dollars in millions)
Six Months Ended Years Ended December 31, ---------------- ------------------------------------------------- June 30, 2002 2001 2000 1999 1998 1997 ---------------- ------- ------- ------- ------- --------- Net earnings $ 1,961 $ 795 $ 3,328 $ 1,557 $ 2,830 $ 1,901 Income tax expense 945 620 2,018 852 1,457 898 Minority interest in earnings 31 54 241 41 27 28 Earnings from investments in MidAmerican Energy (179) (165) (105) - - - Fixed charges * 146 307 212 187 142 141 ------- ------- ------- ------- ------- --------- Earnings available for fixed charges $ 2,904 $ 1,611 $ 5,694 $ 2,637 $ 4,456 $ 2,968 ======= ======= ======= ======= ======= ========= Realized investment gain, pretax, included in Earnings available for fixed charges $ 187 $ 1,363 $ 3,955 $ 1,365 $ 2,415 $ 1,106 ======= ======= ======= ======= ======= ========= Fixed charges * Interest on indebtedness (including amortization) of debt discount and expense) $ 95 $ 209 $ 144 $ 134 $ 109 $ 112 Rentals representing interest 51 98 68 53 33 29 ------- ------- ------- ------- ------- --------- $ 146 $ 307 $ 212 $ 187 $ 142 $ 141 ======= ======= ======= ======= ======= ========= Ratio of earnings to fixed charges * 19.89x 5.25x 26.86x 14.10x 31.38x 21.05x ------- ------- ------- ------- ------- --------- Ratio of earnings, excluding realized investment gain, to fixed charges * 18.61x 0.81x 8.20x 6.80x 14.37x 13.21x ------- ------- ------- ------- ------- --------- ---------------------------------------------- * Excludes fixed charges of finance businesses. Fixed charges of finance businesses were as follows: Six Months Ended Years Ended December 31, ---------------- ------------------------------------------------- June 30, 2002 2001 2000 1999 1998 1997 ---------------- ------- ------- ------- ------- --------- $ 275 $ 762 $ 774 $ 586 $ 21 $ 20 Including fixed charges of finance businesses the ratios of earnings to fixed charges were as follows: Six Months Ended Years Ended December 31, ---------------- ------------------------------------------------- June 30, 2002 2001 2000 1999 1998 1997 ---------------- ------- ------- ------- ------- --------- Including realized investment gain 7.55x 2.22x 6.56x 4.17x 27.47x 18.56x Excluding realized investment gain 7.11x 0.94x 2.55x 2.40x 12.65x 11.69x