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Business segment data (Tables)
9 Months Ended
Sep. 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 eight months ending September 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 third quarter and first nine months of 2024 and 2023 were as follows (in millions).

 

 

Third Quarter

 

 

First Nine Months

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Revenues of Operating Businesses

 

 

 

 

 

 

 

 

 

 

 

Insurance:

 

 

 

 

 

 

 

 

 

 

 

Underwriting:

 

 

 

 

 

 

 

 

 

 

 

GEICO

$

10,699

 

 

$

9,844

 

 

$

31,402

 

 

$

29,184

 

Berkshire Hathaway Primary Group

 

4,685

 

 

 

4,449

 

 

 

13,882

 

 

 

12,643

 

Berkshire Hathaway Reinsurance Group

 

6,671

 

 

 

7,067

 

 

 

20,198

 

 

 

19,890

 

Investment income

 

4,609

 

 

 

2,948

 

 

 

11,850

 

 

 

8,258

 

Total insurance

 

26,664

 

 

 

24,308

 

 

 

77,332

 

 

 

69,975

 

BNSF

 

5,940

 

 

 

5,847

 

 

 

17,405

 

 

 

17,694

 

BHE

 

7,335

 

 

 

7,281

 

 

 

20,104

 

 

 

20,094

 

Pilot

 

10,630

 

 

 

13,166

 

 

 

36,132

 

 

 

37,428

 

Manufacturing

 

19,675

 

 

 

19,174

 

 

 

58,044

 

 

 

56,565

 

McLane

 

12,723

 

 

 

13,477

 

 

 

37,656

 

 

 

39,419

 

Service and retailing

 

9,842

 

 

 

9,946

 

 

 

29,492

 

 

 

30,018

 

 

92,809

 

 

 

93,199

 

 

 

276,165

 

 

 

271,193

 

Reconciliation to consolidated amount

 

 

 

 

 

 

 

 

 

 

 

Corporate, eliminations and other

 

186

 

 

 

11

 

 

 

352

 

 

 

(87

)

$

92,995

 

 

$

93,210

 

 

$

276,517

 

 

$

271,106

 

 

 

 

 

Third Quarter

 

 

First Nine Months

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Earnings Before Income Taxes of Operating Businesses

 

 

 

 

 

 

 

 

 

 

 

Insurance:

 

 

 

 

 

 

 

 

 

 

 

Underwriting:

 

 

 

 

 

 

 

 

 

 

 

GEICO

$

2,033

 

 

$

1,053

 

 

$

5,747

 

 

$

2,270

 

Berkshire Hathaway Primary Group

 

(689

)

 

 

510

 

 

 

76

 

 

 

1,050

 

Berkshire Hathaway Reinsurance Group

 

(310

)

 

 

1,437

 

 

 

1,384

 

 

 

2,495

 

Investment income

 

4,594

 

 

 

2,933

 

 

 

11,814

 

 

 

8,230

 

Total insurance

 

5,628

 

 

 

5,933

 

 

 

19,021

 

 

 

14,045

 

BNSF

 

1,846

 

 

 

1,608

 

 

 

4,987

 

 

 

4,872

 

BHE

 

1,101

 

 

 

(147

)

 

 

1,859

 

 

 

700

 

Pilot

 

217

 

 

 

291

 

 

 

486

 

 

 

613

 

Manufacturing

 

3,135

 

 

 

3,077

 

 

 

9,178

 

 

 

8,791

 

McLane

 

145

 

 

 

116

 

 

 

452

 

 

 

358

 

Service and retailing

 

877

 

 

 

1,186

 

 

 

2,754

 

 

 

3,669

 

 

12,949

 

 

 

12,064

 

 

 

38,737

 

 

 

33,048

 

Reconciliation to consolidated amount

 

 

 

 

 

 

 

 

 

 

 

Investment gains (losses)

 

20,514

 

 

 

(29,778

)

 

 

46,247

 

 

 

38,041

 

Interest expense, not allocated to segments

 

(102

)

 

 

(100

)

 

 

(317

)

 

 

(317

)

Non-controlled businesses

 

222

 

 

 

262

 

 

 

967

 

 

 

1,461

 

Corporate, eliminations and other

 

(1,075

)

 

 

593

 

 

 

717

 

 

 

995

 

 

$

32,508

 

 

$

(16,959

)

 

$

86,351

 

 

$

73,228