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Business segment data (Tables)
6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Schedule of revenues and earnings before income taxes by segment

Our operating businesses include a large and diverse group of insurance, freight rail transportation, utilities and energy, manufacturing, service and retailing businesses. We organize our reportable business segments in a manner that reflects how management views those business activities. Certain businesses are grouped together for segment reporting based upon similar products or product lines and marketing, selling and distribution characteristics, even though those business units are operated under separate local management. We acquired control of Pilot on January 31, 2023. In this presentation, revenues and pre-tax earnings of the Pilot segment in 2023 are for the five months ending June 30. Prior to January 31, 2023, our earnings from Pilot were determined under the equity method and were included in earnings from non-controlled businesses. Revenues and earnings before income taxes by segment for the second quarter and first six months of 2024 and 2023 were as follows (in millions).

 

 

Second Quarter

 

 

First Six Months

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Revenues of Operating Businesses

 

 

 

 

 

 

 

 

 

 

 

Insurance:

 

 

 

 

 

 

 

 

 

 

 

Underwriting:

 

 

 

 

 

 

 

 

 

 

 

GEICO

$

10,469

 

 

$

9,714

 

 

$

20,703

 

 

$

19,340

 

Berkshire Hathaway Primary Group

 

4,656

 

 

 

4,233

 

 

 

9,197

 

 

 

8,194

 

Berkshire Hathaway Reinsurance Group

 

6,828

 

 

 

6,614

 

 

 

13,527

 

 

 

12,823

 

Investment income

 

4,077

 

 

 

2,918

 

 

 

7,241

 

 

 

5,310

 

Total insurance

 

26,030

 

 

 

23,479

 

 

 

50,668

 

 

 

45,667

 

BNSF

 

5,805

 

 

 

5,828

 

 

 

11,465

 

 

 

11,847

 

BHE

 

6,492

 

 

 

6,362

 

 

 

12,769

 

 

 

12,813

 

Pilot

 

12,999

 

 

 

14,754

 

 

 

25,502

 

 

 

24,262

 

Manufacturing

 

19,840

 

 

 

19,102

 

 

 

38,369

 

 

 

37,391

 

McLane

 

12,458

 

 

 

12,883

 

 

 

24,933

 

 

 

25,942

 

Service and retailing

 

9,947

 

 

 

10,141

 

 

 

19,650

 

 

 

20,072

 

 

93,571

 

 

 

92,549

 

 

 

183,356

 

 

 

177,994

 

Reconciliation to consolidated amount

 

 

 

 

 

 

 

 

 

 

 

Corporate, eliminations and other

 

82

 

 

 

(46

)

 

 

166

 

 

 

(98

)

$

93,653

 

 

$

92,503

 

 

$

183,522

 

 

$

177,896

 

 

 

 

 

Second Quarter

 

 

First Six Months

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Earnings Before Income Taxes of Operating Businesses

 

 

 

 

 

 

 

 

 

 

 

Insurance:

 

 

 

 

 

 

 

 

 

 

 

Underwriting:

 

 

 

 

 

 

 

 

 

 

 

GEICO

$

1,786

 

 

$

514

 

 

$

3,714

 

 

$

1,217

 

Berkshire Hathaway Primary Group

 

279

 

 

 

272

 

 

 

765

 

 

 

540

 

Berkshire Hathaway Reinsurance Group

 

782

 

 

 

827

 

 

 

1,694

 

 

 

1,058

 

Investment income

 

4,068

 

 

 

2,912

 

 

 

7,220

 

 

 

5,297

 

Total insurance

 

6,915

 

 

 

4,525

 

 

 

13,393

 

 

 

8,112

 

BNSF

 

1,622

 

 

 

1,615

 

 

 

3,141

 

 

 

3,264

 

BHE

 

326

 

 

 

624

 

 

 

758

 

 

 

847

 

Pilot

 

199

 

 

 

186

 

 

 

269

 

 

 

322

 

Manufacturing

 

3,129

 

 

 

3,103

 

 

 

6,043

 

 

 

5,714

 

McLane

 

142

 

 

 

129

 

 

 

307

 

 

 

242

 

Service and retailing

 

969

 

 

 

1,262

 

 

 

1,877

 

 

 

2,483

 

 

13,302

 

 

 

11,444

 

 

 

25,788

 

 

 

20,984

 

Reconciliation to consolidated amount

 

 

 

 

 

 

 

 

 

 

 

Investment gains (losses)

 

23,857

 

 

 

33,061

 

 

 

25,733

 

 

 

67,819

 

Interest expense, not allocated to segments

 

(119

)

 

 

(103

)

 

 

(215

)

 

 

(217

)

Non-controlled businesses

 

252

 

 

 

511

 

 

 

745

 

 

 

1,199

 

Corporate, eliminations and other

 

845

 

 

 

522

 

 

 

1,792

 

 

 

402

 

 

$

38,137

 

 

$

45,435

 

 

$

53,843

 

 

$

90,187