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Business segment data

Our reportable business segments are organized in a manner that reflects how management views those business activities. Certain businesses have been grouped together for segment reporting based upon similar products or product lines, marketing, selling and distribution characteristics, even though those business units are operated under separate local management.

The tabular information that follows shows data of reportable segments reconciled to amounts reflected in our Consolidated Financial Statements. Intersegment transactions are not eliminated in instances where management considers those transactions in assessing the results of the respective segments. Furthermore, our management does not consider investment and derivative gains/losses or amortization of purchase accounting adjustments related to Berkshire’s acquisition in assessing the performance of reporting units. Collectively, these items are included in reconciliations of segment amounts to consolidated amounts.


Business Identity		Business Activity

GEICO		Underwriting private passenger automobile insurance mainly by direct response methods

General Re		Underwriting excess-of-loss, quota-share and facultative reinsurance worldwide

Berkshire Hathaway Reinsurance Group		Underwriting excess-of-loss and quota-share reinsurance for insurers and reinsurers

Berkshire Hathaway Primary Group		Underwriting multiple lines of property and casualty insurance policies for primarily commercial accounts

BNSF		Operates one of the largest railroad systems in North America

BH Finance, Clayton Homes, XTRA, CORT and other financial services (“Finance and financial products”)		Proprietary investing, manufactured housing and related consumer financing, transportation equipment leasing and furniture leasing

Marmon		An association of approximately 140 manufacturing and service businesses that operate within 11 diverse business sectors

McLane Company		Wholesale distribution of groceries and non-food items

MidAmerican		Regulated electric and gas utility, including power generation and distribution activities in the U.S. and internationally; domestic real estate brokerage

Other businesses not specifically identified with reportable business segments consist of a large, diverse group of manufacturing, service and retailing businesses. A disaggregation of our consolidated data for each of the three most recent years is presented in the tables which follow on this and the following two pages (in millions).


	Revenues							Earnings before income taxes
	2011			2010		2009		2011			2010			2009
Operating Businesses:
Insurance group:
Underwriting:
GEICO	$	15,363		$	14,283	$	13,576	$	576		$	1,117		$	649
General Re		5,816			5,693		5,829		144			452			477
Berkshire Hathaway Reinsurance Group		9,147			9,076		6,706		(714	)		176			250
Berkshire Hathaway Primary Group		1,749			1,697		1,773		242			268			84
Investment income		4,746			5,186		5,509		4,725			5,145			5,459

Total insurance group		36,821			35,935		33,393		4,973			7,158			6,919

BNSF ⁽¹⁾		19,548			15,059		—		4,741			3,611			—
Finance and financial products		4,014			4,264		4,301		774			689			653
Marmon		6,925			5,967		5,067		992			813			686
McLane Company		33,279			32,687		31,207		370			369			344
MidAmerican		11,291			11,305		11,443		1,659			1,539			1,528
Other businesses ⁽²⁾		32,202			27,956		25,391		3,675			3,092			1,028

		144,080			133,173		110,802		17,184			17,271			11,158

Reconciliation of segments to consolidated amount:
Investment and derivative gains/losses		(830	)		2,346		787		(830	)		2,346			787
Interest expense, not allocated to segments		—			—		—		(221	)		(208	)		(101	)
Eliminations and other		438			666		904		(819	)		(358	)		(292	)

	$	143,688		$	136,185	$	112,493	$	15,314		$	19,051		$	11,552

⁽¹⁾	From acquisition date of February 12, 2010.

⁽²⁾	Includes Lubrizol from the acquisition date of September 16, 2011.


	Capital expenditures						Depreciation of tangible assets
	2011		2010		2009		2011		2010		2009
Operating Businesses:
Insurance group	$	40	$	40	$	50	$	56	$	66	$	71
BNSF ⁽¹⁾		3,325		1,829		—		1,480		1,221		—
Finance and financial products		331		233		148		180		204		219
Marmon		514		307		436		484		507		521
McLane Company		188		166		172		129		129		120
MidAmerican		2,684		2,593		3,413		1,333		1,262		1,246
Other businesses ⁽²⁾		1,109		812		718		1,021		890		950

	$	8,191	$	5,980	$	4,937	$	4,683	$	4,279	$	3,127

⁽¹⁾	From acquisition date of February 12, 2010.

⁽²⁾	Includes Lubrizol from the acquisition date of September 16, 2011.


	Goodwill at year-end				Identifiable assets at year-end
	2011		2010		2011		2010		2009
Operating Businesses:
Insurance group:
GEICO	$	1,372	$	1,372	$	27,253	$	25,631	$	22,996
General Re		13,532		13,532		28,442		29,196		30,894
Berkshire Hathaway Reinsurance and Primary Groups		607		589		104,913		104,383		102,787

Total insurance group		15,511		15,493		160,608		159,210		156,677

BNSF		14,803		14,803		55,282		53,476		—
Finance and financial products		1,032		1,031		23,919		24,692		24,027
Marmon		727		709		10,597		10,047		9,768
McLane Company		155		155		4,107		4,018		3,505
MidAmerican		5,253		5,281		42,039		40,045		39,437
Other businesses *		15,732		11,534		34,994		24,144		22,888

	$	53,213	$	49,006		331,546		315,632		256,302


Reconciliation of segments to consolidated amount:
Corporate and other						7,888		7,591		6,845
Goodwill						53,213		49,006		33,972

					$	392,647	$	372,229	$	297,119

*	Includes Lubrizol, acquired in 2011.

Insurance premiums written by geographic region (based upon the domicile of the insured or reinsured) are summarized below. Dollars are in millions.


	Property/Casualty						Life/Health
	2011		2010		2009		2011		2010		2009
United States	$	22,253	$	21,539	$	19,280	$	3,100	$	3,210	$	1,095
Western Europe		4,495		3,377		5,236		880		945		761
All other		1,089		918		737		1,090		927		774

	$	27,837	$	25,834	$	25,253	$	5,070	$	5,082	$	2,630

In 2011, 2010 and 2009, premiums written and earned attributable to Western Europe were primarily in the United Kingdom, Germany, Switzerland and Luxembourg. In 2011, 2010 and 2009, property/casualty insurance premiums earned included approximately $2.9 billion, $2.4 billion and $4.6 billion, respectively, from Swiss Reinsurance Company Ltd. and its affiliates. Life/health insurance premiums written and earned in the United States in 2011 and 2010 included approximately $1.5 billion and $2.1 billion, respectively, from a single contract with Swiss Re Life & Health America Inc., an affiliate of Swiss Reinsurance Company Ltd.

Consolidated sales and service revenues in 2011, 2010 and 2009 were $72.8 billion, $67.2 billion and $62.6 billion, respectively. Approximately 86% of such amounts in 2011 were in the United States compared with approximately 88% in 2010 and 90% in 2009. The remainder of sales and service revenues were primarily in Europe and Canada. In 2011, consolidated sales and service revenues included $11.6 billion of sales to Wal-Mart Stores, Inc. which were primarily related to McLane’s wholesale distribution business.

Approximately 96% of our revenues in 2011 from railroad, utilities and energy businesses were in the United States versus 97% in 2010 and 91% in 2009. In each year most of the remainder was attributed to the United Kingdom. At December 31, 2011, 91% of our consolidated net property, plant and equipment were located in the United States with the remainder primarily in the United Kingdom, Canada and Europe.

Premiums written and earned by the property/casualty and life/health insurance businesses are summarized below (in millions).


	Property/Casualty									Life/Health
	2011			2010			2009			2011			2010			2009
Premiums Written:
Direct	$	18,512		$	17,128		$	16,484		$	67		$	3		$	—
Assumed		9,867			9,171			9,321			5,133			5,203			2,727
Ceded		(542	)		(465	)		(552	)		(130	)		(124	)		(97	)

	$	27,837		$	25,834		$	25,253		$	5,070		$	5,082		$	2,630

Premiums Earned:
Direct	$	18,038		$	16,932		$	16,553		$	67		$	3		$	—
Assumed		9,523			9,266			9,284			5,099			5,208			2,723
Ceded		(522	)		(536	)		(579	)		(130	)		(124	)		(97	)

	$	27,039		$	25,662		$	25,258		$	5,036		$	5,087		$	2,626