EX-12 2 a70817ex12.txt FORM 12 1 Reg S-K Item 601 Exhibit 12 BERKSHIRE HATHAWAY INC. Calculation of Ratio of Consolidated Earnings to Consolidated Fixed Charges (Dollars in millions)
Years Ended December 31, ---------------------------------------------------- 2000 1999 1998 1997 1996 ------- ------- ------- ------- ------- Net earnings ........................................... $ 3,328 $ 1,557 $ 2,830 $ 1,901 $ 2,489 Income tax expense ................................... 2,018 852 1,457 898 1,197 Minority interest in earnings ........................ 241 41 27 28 20 Earnings from investments in MidAmerican Energy ...... (105) -- -- -- -- Fixed charges* ....................................... 204 187 142 141 124 ------- ------- ------- ------- ------- Earnings available for fixed charges ................... $ 5,686 $ 2,637 $ 4,456 $ 2,968 $ 3,830 ======= ======= ======= ======= ======= Realized investment gain, pretax, included in Earnings available for fixed charges ................. $ 3,955 $ 1,365 $ 2,415 $ 1,106 $ 2,484 ======= ======= ======= ======= ======= Fixed charges* Interest on indebtedness (including amortization of debt discount and expense) ....................... $ 144 $ 134 $ 109 $ 112 $ 100 Rentals representing interest ........................ 60 53 33 29 24 ------- ------- ------- ------- ------- $ 204 $ 187 $ 142 $ 141 $ 124 ======= ======= ======= ======= ======= Ratio of earnings to fixed charges* .................... 27.87x 14.10x 31.38x 21.05x 30.89x ======= ======= ======= ======= ======= Ratio of earnings, excluding realized investment gain, to fixed charges* .............................. 8.49x 6.80x 14.37x 13.21x 10.85x ======= ======= ======= ======= =======
---------- * Excludes fixed charges of finance businesses. Fixed charges of finance businesses were as follows:
2000 1999 1998 1997 1996 ------ ------ ------ ------ ------ $ 774 $ 586 $ 21 $ 20 $ 30
Including fixed charges of finance businesses the ratios of earnings to fixed charges were as follows:
2000 1999 1998 1997 1996 ------ ------ ------ ------ ------ Including realized investment gain .............. 6.61x 4.17x 27.47x 18.56x 25.06x Excluding realized investment gain .............. 2.56x 2.40x 12.65x 11.69x 8.94x