Condensed Financial Information

12 Months Ended

Dec. 31, 2024

Condensed Financial Information Disclosure [Abstract]

Condensed Financial Information

BERKSHIRE HATHAWAY INC. (Parent Company)

Condensed Financial Information

(Dollars in millions)

Schedule I

Balance Sheets

	December 31,
	2024		2023
Assets:
Cash and cash equivalents	$	6,337	$	5,566
Short-term investments in U.S. Treasury Bills		89,705		16,140
Investments in and advances to consolidated subsidiaries		568,987		546,566
Investment in The Kraft Heinz Company and other assets		13,417		13,246
	$	678,446	$	581,518
Liabilities and Shareholders’ Equity:
Payable for purchase of U.S. Treasury Bills and other liabilities	$	6,510	$	235
Income taxes, principally deferred		1,477		1,229
Notes payable and other borrowings		21,091		18,781
		29,078		20,245
Berkshire shareholders’ equity		649,368		561,273
	$	678,446	$	581,518

Statements of Earnings and Comprehensive Income

	Year ended December 31,
	2024			2023			2022
Income items:
From consolidated subsidiaries:
Dividends and distributions	$	72,607		$	9,717		$	15,724
Undistributed earnings (losses)		14,314			85,550			(39,579	)
		86,921			95,267			(23,855	)
Equity in earnings of The Kraft Heinz Company		745			758			628
Other income		1,441			899			379
		89,107			96,924			(22,848	)
Cost and expense items:
General and administrative		381			244			131
Interest expense		535			636			513
Foreign exchange gains on non-U.S. Dollar denominated debt		(1,376	)		(371	)		(1,401	)
Income tax expense		572			192			668
		112			701			(89	)
Net earnings (loss) attributable to Berkshire shareholders		88,995			96,223			(22,759	)
Other comprehensive income attributable to Berkshire shareholders		179			1,289			3,071
Comprehensive income attributable to Berkshire shareholders	$	89,174		$	97,512		$	(19,688	)

See Note to Condensed Financial Information

BERKSHIRE HATHAWAY INC. (Parent Company)

Condensed Financial Information

(Dollars in millions)

Schedule I (continued)

Statements of Cash Flows

	Year ended December 31,
	2024			2023			2022
Cash flows from operating activities:
Net earnings (loss) attributable to Berkshire shareholders	$	88,995		$	96,223		$	(22,759	)
Adjustments to reconcile net earnings (loss) to operating cash flows:
Undistributed (earnings) losses of consolidated subsidiaries		(14,314	)		(85,550	)		39,579
Non-cash dividends from subsidiaries		(58,339	)		(1,811	)		(7,220	)
Income taxes payable		294			(44	)		661
Other*		(2,666	)		(1,207	)		(1,799	)
Net cash flows from operating activities		13,970			7,611			8,462
Cash flows from investing activities:
Investments in and advances to consolidated subsidiaries, net		(1,332	)		2,649			(11,852	)
Purchases of U.S. Treasury Bills		(52,864	)		(27,278	)		(44,187	)
Sales and maturities of U.S. Treasury Bills and other		40,244			31,234			38,043
Net cash flows from investing activities		(13,952	)		6,605			(17,996	)
Cash flows from financing activities:
Proceeds from borrowings		5,525			2,054			1,970
Repayments of borrowings		(1,854	)		(4,310	)		(602	)
Acquisition of treasury stock		(2,918	)		(9,171	)		(7,854	)
Net cash flows from financing activities		753			(11,427	)		(6,486	)
Increase (decrease) in cash and cash equivalents		771			2,789			(16,020	)
Cash and cash equivalents at the beginning of the year		5,566			2,777			18,797
Cash and cash equivalents at the end of the year	$	6,337		$	5,566		$	2,777
Other cash flow information:
Income taxes paid	$	26,455		$	5,630		$	2,259
Interest paid		318			297			332
Class B common stock issued in exchange for noncontrolling interests		1,045			—			—

——————

* Includes discount accretion on investments and foreign currency exchange (gains) losses.

Note to Condensed Financial Information

As of December 31, 2024, Berkshire owned 27.2% of the outstanding shares of The Kraft Heinz Company common stock, which is accounted for pursuant to the equity method. See Note 5 to the Consolidated Financial Statements.

In September and October 2024, Berkshire acquired the remaining 2.12% of Berkshire Hathaway Energy’s (“BHE”) outstanding common stock held by noncontrolling shareholders in exchange for 2,291,631 shares of Berkshire Class B common stock valued at $1.045 billion. On October 19, 2022, Berkshire acquired all of the outstanding common stock of Alleghany Corporation for $11.5 billion. See Note 2 to the Consolidated Financial Statements.

During 2024, the Parent Company repaid approximately $1.9 billion of maturing senior notes. At various dates in 2024, Berkshire borrowed approximately ¥837.4 billion (approximately $5.5 billion) under senior note issuances and term loan agreements. The borrowings have interest rates ranging from 0.974% to 2.625% and maturity dates ranging from 2027 to 2054. As of December 31, 2024, the Parent Company’s non-U.S. Dollar denominated borrowings included €4.6 billion and ¥1,988 billion par value senior notes. The gains and losses from the periodic remeasurement of these non-U.S. Dollar denominated notes due to changes in foreign currency exchange rates are included in earnings.

Parent Company debt maturities in each of the next five years are as follows: 2025—$1.9 billion; 2026—$4.2 billion; 2027—$4.0 billion; 2028—$2.2 billion and 2029—$2.6 billion. The Parent Company guarantees certain debt of subsidiaries, which aggregated approximately $20.8 billion at December 31, 2024 and primarily consisted of debt issued by Berkshire Hathaway Finance Corporation. Such guarantees are an absolute, unconditional and irrevocable guarantee for the full and prompt payment when due of all present and future payment obligations. The Parent Company has also provided guarantees in connection with certain retroactive reinsurance contracts issued by subsidiaries. The amounts of subsidiary payments under these contracts, if any, are contingent upon the outcome of future events.