BERKSHIRE HATHAWAY INC

BRK-B 10-K · Q4 2025

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Income Statement

Income Statement
Metric Q4 2025 Q4 2024 YoY
Premiums Earned Net (Q)
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Insurance and Other [Member] 22,458 22,775 -1.4%
Sales And Service Revenue (Q)
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Insurance and Other [Member] 51,040 51,107 -0.1%
Operating Lease Lease Income 2,581 2,382 +8.4%
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Insurance and Other [Member] 2,581 2,382 +8.4%
Investment Income Interest Dividend And Other (Q)
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Insurance and Other [Member] 5,930 6,275 -5.5%
Utility And Energy Operating Revenues (Q)
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Railroad, Utilities and Energy [Member] 5,198 5,168 +0.6%
Service Revenues And Other Income (Q)
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Railroad, Utilities and Energy [Member] 1,070 1,096 -2.4%
Revenue 94,232 94,916 -0.7%
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Insurance and Other [Member] 82,009 82,539 -0.6%
Investments Segment · Insurance Group [Member] 3,950 4,962 -20.4%
Railroad, Utilities and Energy [Member] 12,223 12,377 -1.2%
Underwriting [Member] · Insurance Group [Member] 22,458 22,775 -1.4%
Underwriting [Member] · Insurance Group [Member] 4,748 4,851 -2.1%
Underwriting [Member] · Insurance Group [Member] 6,309 7,074 -10.8%
Underwriting [Member] · Insurance Group [Member] 11,401 10,850 +5.1%
Show Business Segments breakouts
Berkshire Hathaway Energy ("BHE") [Member] 6,240 6,232 +0.1%
Berkshire Hathaway Energy ("BHE") [Member] · Operating Segments 6,219 6,244 -0.4%
BNSF [Member] 5,983 6,146 -2.7%
BNSF [Member] · Operating Segments 6,005 6,167 -2.6%
Insurance Group [Member] · Operating Segments 26,408 27,737 -4.8%
Insurance, Corporate and Other [Member] 27,507 28,274 -2.7%
Manufacturing Businesses [Member] 19,683 19,160 +2.7%
Manufacturing Businesses [Member] · Operating Segments 19,705 19,187 +2.7%
McLane [Member] 12,840 13,988 -8.2%
McLane [Member] · Operating Segments 13,031 14,251 -8.6%
Pilot Travel Centers LLC [Member] 10,770 10,755 +0.1%
Pilot Travel Centers LLC [Member] · Operating Segments 10,777 10,759 +0.2%
Service and Retailing [Member] 11,209 10,361 +8.2%
Service and Retailing [Member] · Operating Segments 11,229 10,382 +8.2%
Show Consolidation Items breakouts
Corporate, Eliminations and Other [Member] 858 189 +354.0%
Operating Segments 93,374 94,727 -1.4%
Gain Loss On Investments 17,210 6,552 +162.7%
Show Consolidation Items breakouts
Material Reconciling Items 17,210 6,552 +162.7%
Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1 (Q)
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Insurance and Other [Member] 14,853 13,468 +10.3%
Property and Casualty Insurance and Reinsurance, Excluding Retroactive Reinsurance [Member] 14,411 13,067 +10.3%
Underwriting [Member] · Insurance Group [Member] 14,853 13,468 +10.3%
Underwriting [Member] · Insurance Group [Member] 3,032 2,695 +12.5%
Underwriting [Member] · Insurance Group [Member] 3,093 3,245 -4.7%
Underwriting [Member] · Insurance Group [Member] 8,728 7,528 +15.9%
Show Business Segments breakouts
Insurance Group [Member] · Operating Segments 14,853 13,468 +10.3%
Show Ceded Credit Risk breakouts
Retroactive Reinsurance [Member] 442 401 +10.2%
Retroactive Reinsurance [Member] · Deferred Charges Reinsurance Assumed [Member] 194 88 +120.5%
Retroactive Reinsurance [Member] · Unpaid Losses and Loss Adjustment Expenses [Member] 248 313 -20.8%
Policyholder Benefits And Claims Incurred Net (Q)
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Insurance and Other [Member] 1,063 1,034 +2.8%
Underwriting [Member] · Insurance Group [Member] 1,063 1,034 +2.8%
Underwriting [Member] · Insurance Group [Member] 1,063 1,034 +2.8%
Show Business Segments breakouts
Insurance Group [Member] · Operating Segments 1,063 1,034 +2.8%
Insurance Underwriting Expenses (Q)
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Insurance and Other [Member] 4,501 4,075 +10.5%
Cost of Revenue (Q)
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Insurance and Other [Member] 41,020 41,189 -0.4%
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Manufacturing Businesses [Member] · Operating Segments 12,780 12,611 +1.3%
McLane [Member] · Operating Segments 11,912 13,048 -8.7%
Pilot Travel Centers LLC [Member] · Operating Segments 9,828 9,688 +1.4%
Service and Retailing [Member] · Operating Segments 6,733 6,166 +9.2%
Cost Of Leasing (Q)
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Insurance and Other [Member] 2,034 1,865 +9.1%
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Manufacturing Businesses [Member] · Operating Segments 287 315 -8.9%
Service and Retailing [Member] · Operating Segments 1,690 1,539 +9.8%
Selling, General & Administrative (Q)
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Insurance and Other [Member] 7,838 5,849 +34.0%
Operating Expenses (Q)
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Railroad, Utilities and Energy [Member] 3,902 4,260 -8.4%
Costs Of Services And Operating Expenses (Q)
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Railroad, Utilities and Energy [Member] 4,134 4,135 -0.0%
Other Expenses (Q)
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Railroad, Utilities and Energy [Member] 1,042 1,002 +4.0%
Interest Expense 1,298 1,440 -9.9%
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Insurance and Other [Member] 346 537 -35.6%
Railroad, Utilities and Energy [Member] 952 903 +5.4%
Show Business Segments breakouts
Berkshire Hathaway Energy ("BHE") [Member] · Operating Segments 674 628 +7.3%
BNSF [Member] · Operating Segments 277 271 +2.2%
Manufacturing Businesses [Member] · Operating Segments 325 277 +17.3%
McLane [Member] · Operating Segments 13 8 +62.5%
Pilot Travel Centers LLC [Member] · Operating Segments 53 56 -5.4%
Service and Retailing [Member] · Operating Segments 29 30 -3.3%
Show Consolidation Items breakouts
Corporate, Eliminations and Other [Member] -73 170 -142.9%
Operating Segments 1,371 1,270 +8.0%
Total Costs & Expenses 81,685 78,317 +4.3%
Show Product Lines breakouts
Insurance and Other [Member] 71,655 68,017 +5.3%
Investments Segment · Insurance Group [Member] -31 28 -210.7%
Railroad, Utilities and Energy [Member] 10,030 10,300 -2.6%
Underwriting [Member] · Insurance Group [Member] 20,417 18,577 +9.9%
Underwriting [Member] · Insurance Group [Member] 4,388 4,072 +7.8%
Underwriting [Member] · Insurance Group [Member] 5,685 5,721 -0.6%
Underwriting [Member] · Insurance Group [Member] 10,344 8,784 +17.8%
Show Business Segments breakouts
Berkshire Hathaway Energy ("BHE") [Member] · Operating Segments 5,898 5,811 +1.5%
BNSF [Member] · Operating Segments 4,154 4,506 -7.8%
Insurance Group [Member] · Operating Segments 20,386 18,605 +9.6%
Manufacturing Businesses [Member] · Operating Segments 16,681 16,470 +1.3%
McLane [Member] · Operating Segments 12,885 14,069 -8.4%
Pilot Travel Centers LLC [Member] · Operating Segments 10,857 10,631 +2.1%
Service and Retailing [Member] · Operating Segments 10,216 9,436 +8.3%
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments 29,757 23,151 +28.5%
Income Loss From Equity Method Investments -5,301 874 -706.5%
Show — breakouts
Income Loss From Equity Method Investments -4,464 682 -754.5%
Income Loss From Equity Method Investments 34 28 +21.4%
Show Consolidation Items breakouts
Material Reconciling Items -5,301 874 -706.5%
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
Occidental [Member] -5,513 265 -2180.4%
The Kraft Heinz Company [Member] 178 581 -69.4%
Income Before Taxes 24,456 24,025 +1.8%
Show Product Lines breakouts
Investments Segment · Insurance Group [Member] 3,981 4,934 -19.3%
Underwriting [Member] · Insurance Group [Member] 2,041 4,198 -51.4%
Underwriting [Member] · Insurance Group [Member] 360 779 -53.8%
Underwriting [Member] · Insurance Group [Member] 624 1,353 -53.9%
Underwriting [Member] · Insurance Group [Member] 1,057 2,066 -48.8%
Show Business Segments breakouts
Berkshire Hathaway Energy ("BHE") [Member] · Operating Segments 321 433 -25.9%
BNSF [Member] · Operating Segments 1,851 1,661 +11.4%
Insurance Group [Member] · Operating Segments 6,022 9,132 -34.1%
Manufacturing Businesses [Member] · Operating Segments 3,024 2,717 +11.3%
McLane [Member] · Operating Segments 146 182 -19.8%
Pilot Travel Centers LLC [Member] · Operating Segments -80 128 -162.5%
Service and Retailing [Member] · Operating Segments 1,013 946 +7.1%
Show Consolidation Items breakouts
Operating Segments 12,297 15,199 -19.1%
Income Tax Expense (Benefit) 5,189 4,274 +21.4%
Show Business Segments breakouts
Berkshire Hathaway Energy ("BHE") [Member] · Operating Segments -400 -336 -19.0%
BNSF [Member] · Operating Segments 504 383 +31.6%
Insurance Group [Member] · Operating Segments 1,389 1,636 -15.1%
Manufacturing Businesses [Member] · Operating Segments 449 461 -2.6%
McLane [Member] · Operating Segments 41 38 +7.9%
Service and Retailing [Member] · Operating Segments 249 236 +5.5%
Show Consolidation Items breakouts
Corporate, Eliminations and Other [Member] 414 344 +20.3%
Operating Segments 2,199 2,373 -7.3%
Net Income 19,267 19,751 -2.5%
Net Income Loss Attributable To Noncontrolling Interest 68 57 +19.3%
Net Income 19,199 19,694 -2.5%
EPS (Basic) (Q)
Show Statement Class Of Stock breakouts
Equivalent Class A [Member] 13,349 13,695 -2.5%
Equivalent Class B [Member] 8.9 9.13 -2.5%
Wtd Avg Shares (Basic) (Q)
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Equivalent Class A [Member] 0 101 -100.0%
Equivalent Class B [Member] 0 152,379 -100.0%
Foreign Currency Transaction Gain Loss Before Tax (Q)
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Insurance and Other [Member] · Berkshire Hathaway Finance Corporation [Member] -838.3 137.5 -709.7%
Other Comprehensive Income (Q)
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Accumulated Defined Benefit Plans Adjustment -468 1,266 -137.0%
Accumulated Net Unrealized Investment Gain Loss -9 -124 +92.7%
Accumulated Other Comprehensive Income 162 125 +29.6%
Accumulated Translation Adjustment 295 -1,725 +117.1%
Long duration insurance contracts [Member] 284 672 -57.7%
Other AOCI transactions [Member] 60 36 +66.7%
Comprehensive Income 19,274 19,802 -2.7%
Revenue 62,734 62,856 -0.2%
Show Product Lines breakouts
Auto Sales [Member] 2,835 2,814 +0.7%
Auto Sales [Member] · Service and Retailing [Member] 2,835 2,814 +0.7%
Building [Member] 4,792 4,809 -0.4%
Building [Member] · Manufacturing Businesses [Member] 4,792 4,809 -0.4%
Consumer products [Member] 4,700 4,674 +0.6%
Consumer products [Member] · Manufacturing Businesses [Member] 4,700 4,674 +0.6%
Electricity and Natural Gas [Member] 5,051 5,051 0.0%
Electricity and Natural Gas [Member] · Berkshire Hathaway Energy ("BHE") [Member] 5,051 5,051 0.0%
Food And Beverage 4,713 4,782 -1.4%
Food And Beverage · McLane [Member] 4,713 4,782 -1.4%
Grocery and Convenience Store Distribution [Member] 7,855 8,857 -11.3%
Grocery and Convenience Store Distribution [Member] · McLane [Member] 7,855 8,857 -11.3%
Industrial and Commercial [Member] 7,499 7,107 +5.5%
Industrial and Commercial [Member] · Manufacturing Businesses [Member] 7,460 7,053 +5.8%
Industrial and Commercial [Member] · Service and Retailing [Member] 39 54 -27.8%
Other Retail and Wholesale Distribution [Member] 15,882 15,488 +2.5%
Other Retail and Wholesale Distribution [Member] · Manufacturing Businesses [Member] 972 905 +7.4%
Other Retail and Wholesale Distribution [Member] · Pilot Travel Centers LLC [Member] 10,693 10,655 +0.4%
Other Retail and Wholesale Distribution [Member] · Service and Retailing [Member] 4,217 3,928 +7.4%
Service 9,407 9,274 +1.4%
Service · Berkshire Hathaway Energy ("BHE") [Member] 943 951 -0.8%
Service · BNSF [Member] 5,937 6,096 -2.6%
Service · Manufacturing Businesses [Member] 361 377 -4.2%
Service · McLane [Member] 263 301 -12.6%
Service · Pilot Travel Centers LLC [Member] 68 66 +3.0%
Service · Service and Retailing [Member] 1,835 1,483 +23.7%
Show Business Segments breakouts
Berkshire Hathaway Energy ("BHE") [Member] 5,994 6,002 -0.1%
BNSF [Member] 5,937 6,096 -2.6%
Manufacturing Businesses [Member] 18,285 17,818 +2.6%
McLane [Member] 12,831 13,940 -8.0%
Pilot Travel Centers LLC [Member] 10,761 10,721 +0.4%
Service and Retailing [Member] 8,926 8,279 +7.8%
Other Revenue 31,498 32,060 -1.8%
Show Business Segments breakouts
Berkshire Hathaway Energy ("BHE") [Member] 246 230 +7.0%
BNSF [Member] 46 50 -8.0%
Insurance, Corporate and Other [Member] 27,507 28,274 -2.7%
Manufacturing Businesses [Member] 1,398 1,342 +4.2%
McLane [Member] 9 48 -81.2%
Pilot Travel Centers LLC [Member] 9 34 -73.5%
Service and Retailing [Member] 2,283 2,082 +9.7%
Operating Income (Q)
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Corporate, Eliminations and Other [Member] 250 1,400 -82.1%
Depreciation And Amortization (Q)
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BNSF [Member] · Operating Segments 688 657 +4.7%
McLane [Member] · Operating Segments 68 68 0.0%
Pilot Travel Centers LLC [Member] · Operating Segments 312 262 +19.1%
Labor And Related Expense (Q)
Show Business Segments breakouts
BNSF [Member] · Operating Segments 1,372 1,732 -20.8%

Balance Sheet

Balance Sheet
Metric Q4 2025 Q4 2024 YoY
Current Assets
Cash & Cash Equivalents (Q)
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Insurance and Other [Member] 47,719 44,333 +7.6%
Railroad, Utilities and Energy [Member] 4,158 3,396 +22.4%
Show Consolidated Entities breakouts
Parent Company 14,627 6,337 +130.8%
Inventory 24,424 24,008 +1.7%
Show Product Lines breakouts
Insurance and Other [Member] 24,424 24,008 +1.7%
Railroad, Utilities and Energy [Member] · Other Assets 3.2 3 +6.7%
Non-Current Assets
Property, Plant & Equipment (Q)
Show Product Lines breakouts
Insurance and Other [Member] 31,885 30,071 +6.0%
Railroad [Member] 72,372 71,261 +1.6%
Railroad, Utilities and Energy [Member] 184,740 175,030 +5.5%
Utilities and Energy [Member] 112,368 103,769 +8.3%
Goodwill 83,074 83,880 -1.0%
Show Product Lines breakouts
Insurance and Other [Member] 55,945 56,860 -1.6%
Railroad, Utilities and Energy [Member] 27,129 27,020 +0.4%
Show Business Segments breakouts
Berkshire Hathaway Energy ("BHE") [Member] · Operating Segments 11,778 11,669 +0.9%
BNSF [Member] · Operating Segments 15,351 15,351 0.0%
Insurance Group [Member] · Operating Segments 16,557 16,557 0.0%
Manufacturing Businesses [Member] · Operating Segments 26,928 27,716 -2.8%
McLane [Member] · Operating Segments 232 232 0.0%
Pilot Travel Centers LLC [Member] · Operating Segments 6,546 6,477 +1.1%
Service and Retailing [Member] · Operating Segments 5,682 5,878 -3.3%
Show Consolidation Items breakouts
Material Reconciling Items 83,074 83,880 -1.0%
Operating Segments 83,074 83,880 -1.0%
Total Assets 1,222,176 1,153,881 +5.9%
Show Product Lines breakouts
Insurance and Other [Member] 976,000 917,772 +6.3%
Railroad, Utilities and Energy [Member] 246,176 236,109 +4.3%
Show Consolidated Entities breakouts
Parent Company 740,409 678,446 +9.1%
Operating Lease Right-of-Use Assets 6,020 5,843 +3.0%
Other Assets
U S Treasury Bills (Q)
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Insurance and Other [Member] 321,434 286,472 +12.2%
Show Consolidated Entities breakouts
Parent Company 112,811 89,705 +25.8%
Investments In And Advances To Affiliates Equity Value (Q)
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Parent Company 604,100 568,987 +6.2%
Available For Sale Securities Debt Securities 17,816 15,364 +16.0%
Show Product Lines breakouts
Insurance and Other [Member] 17,816 15,364 +16.0%
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level1 · Foreign Government Debt Securities 12,411 9,199 +34.9%
Fair Value Inputs Level1 · US Treasury And Government 3,815 4,425 -13.8%
Fair Value Inputs Level2 · Corporate and Other [Member] 983 1,041 -5.6%
Fair Value Inputs Level2 · Foreign Government Debt Securities 131 163 -19.6%
Fair Value Inputs Level2 · US Treasury And Government 34 34 0.0%
Fair Value Inputs Level3 · Corporate and Other [Member] 442 502 -12.0%
Show Financial Instrument breakouts
Corporate and Other [Member] 1,425 1,543 -7.6%
Corporate and Other [Member] · Carrying Reported Amount Fair Value Disclosure 1,425 1,543 -7.6%
Corporate and Other [Member] · Estimate Of Fair Value Fair Value Disclosure 1,425 1,543 -7.6%
Foreign Government Debt Securities 12,542 9,362 +34.0%
Foreign Government Debt Securities · Carrying Reported Amount Fair Value Disclosure 12,542 9,362 +34.0%
Foreign Government Debt Securities · Estimate Of Fair Value Fair Value Disclosure 12,542 9,362 +34.0%
US Treasury And Government 3,849 4,459 -13.7%
US Treasury And Government · Carrying Reported Amount Fair Value Disclosure 3,849 4,459 -13.7%
US Treasury And Government · Estimate Of Fair Value Fair Value Disclosure 3,849 4,459 -13.7%
Equity Method Investments And Other Assets (Q)
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Parent Company 8,871 13,417 -33.9%
Equity Securities Fv Ni 297,778 271,588 +9.6%
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Insurance and Other [Member] 297,778 271,588 +9.6%
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level1 · Fair Value Measurements Recurring 288,232 261,910 +10.1%
Fair Value Inputs Level2 · Fair Value Measurements Recurring 10 10 0.0%
Fair Value Inputs Level3 · Common Stock Warrants [Member] 724
Fair Value Inputs Level3 · Fair Value Measurements Recurring 9,536 9,668 -1.4%
Fair Value Inputs Level3 · Preferred Stock 8,805
Show Equity Securities By Industry breakouts
Banks, insurance and finance [Member] 104,129 91,643 +13.6%
Commercial, industrial and other [Member] 98,695 75,196 +31.3%
Consumer products [Member] 94,954 104,749 -9.4%
Show Fair Value By Measurement Basis breakouts
Carrying Reported Amount Fair Value Disclosure · Fair Value Measurements Recurring 297,778 271,588 +9.6%
Estimate Of Fair Value Fair Value Disclosure · Fair Value Measurements Recurring 297,778 271,588 +9.6%
Equity Method Investments 19,978 31,134 -35.8%
Show Product Lines breakouts
Insurance and Other [Member] 19,978 31,134 -35.8%
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
Berkadia Commercial Mortgage LLC [Member] 450 452 -0.4%
Occidental [Member] 10,894 17,287 -37.0%
The Kraft Heinz Company [Member] 8,634 13,395 -35.5%
Notes Receivable Net 29,836 27,798 +7.3%
Show Product Lines breakouts
Insurance and Other [Member] 29,836 27,798 +7.3%
Premiums And Other Receivables Net (Q)
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Insurance and Other [Member] 44,331 43,887 +1.0%
Accounts And Other Receivables Net (Q)
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Railroad, Utilities and Energy [Member] 4,387 4,503 -2.6%
Property Subject To Or Available For Operating Lease Net 18,535 17,828 +4.0%
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Insurance and Other [Member] 18,535 17,828 +4.0%
Intangible Assets Net Excluding Goodwill (Q)
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Insurance and Other [Member] 33,802 34,638 -2.4%
Unamortized Deferred Charges On Reinsurance Assumed (Q)
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Insurance and Other [Member] 8,104 8,797 -7.9%
Regulatory Assets (Q)
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Railroad, Utilities and Energy [Member] 4,821 5,349 -9.9%
Other Assets (Q)
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Insurance and Other [Member] 24,413 24,994 -2.3%
Railroad, Utilities and Energy [Member] 20,941 20,811 +0.6%
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level1 · Fair Value Measurements Recurring 13 33 -60.6%
Fair Value Inputs Level2 · Fair Value Measurements Recurring 119 158 -24.7%
Fair Value Inputs Level3 · Fair Value Measurements Recurring 9 10 -10.0%
Show Fair Value By Measurement Basis breakouts
Carrying Reported Amount Fair Value Disclosure · Fair Value Measurements Recurring 141 201 -29.9%
Estimate Of Fair Value Fair Value Disclosure · Fair Value Measurements Recurring 141 201 -29.9%
Non-Current Liabilities
Accounts Payable And Accrued Liabilities Current And Noncurrent (Q)
Show Product Lines breakouts
Insurance and Other [Member] 38,019 37,489 +1.4%
Railroad, Utilities and Energy [Member] 19,250 18,226 +5.6%
Total Liabilities 502,473 502,226 0.0%
Show Consolidated Entities breakouts
Parent Company 22,990 29,078 -20.9%
Deferred Tax Liabilities 85,597 83,563 +2.4%
Other Liabilities
Payable For Purchase Of U S Treasury Bills And Other Liabilities (Q)
Show Consolidated Entities breakouts
Parent Company 150 6,510 -97.7%
Liability For Claims And Claims Adjustment Expense (Q)
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Insurance and Other [Member] 120,713 115,151 +4.8%
Property and Casualty Insurance and Reinsurance, Excluding Retroactive Reinsurance [Member] 120,713 115,151 +4.8%
Show Business Segments breakouts
Insurance Group [Member] 120,713
Show Ceded Credit Risk breakouts
Retroactive Reinsurance [Member] 31,048 32,443 -4.3%
Liability For Unpaid Claims And Claim Adjustment Expense Retroactive Reinsurance (Q)
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Insurance and Other [Member] 31,048 32,443 -4.3%
Unearned Premiums (Q)
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Insurance and Other [Member] 31,339 30,808 +1.7%
Liability For Future Policy Benefits 17,890 17,616 +1.6%
Show Product Lines breakouts
Annuities [Member] 10,441 10,276 +1.6%
Insurance and Other [Member] 17,890 17,616 +1.6%
Life/Health [Member] 4,540 4,490 +1.1%
Other Insurance Product Line 2,909 2,850 +2.1%
Policyholder Funds (Q)
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Insurance and Other [Member] 10,312 10,703 -3.7%
Other Payables To Broker Dealers And Clearing Organizations 167 12.8 +1204.7%
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Insurance and Other [Member] 167 12,769 -98.7%
Aircraft Repurchase Liabilities And Deferred Revenue Leases Net (Q)
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Insurance and Other [Member] 10,686 9,356 +14.2%
Regulatory Liabilities (Q)
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Railroad, Utilities and Energy [Member] 7,013 7,033 -0.3%
Debt And Capital Lease Obligations (Q)
Show Product Lines breakouts
Insurance and Other [Member] 45,763 44,885 +2.0%
Insurance and Other [Member] · Berkshire Hathaway Finance Corporation [Member] 1,464 1,290 +13.5%
Insurance and Other [Member] · Berkshire Hathaway Finance Corporation [Member] 2,323 2,156 +7.7%
Insurance and Other [Member] · Berkshire Hathaway Finance Corporation [Member] 14,475 14,469 0.0%
Insurance and Other [Member] · Parent Company 4,201 4,733 -11.2%
Insurance and Other [Member] · Parent Company 14,914 12,609 +18.3%
Insurance and Other [Member] · Parent Company 3,547 3,749 -5.4%
Insurance and Other [Member] · Subsidiaries 3,518 4,564 -22.9%
Railroad, Utilities and Energy [Member] 83,318 79,877 +4.3%
Railroad, Utilities and Energy [Member] · Berkshire Hathaway Energy Subsidiaries [Member] 45,798 42,150 +8.7%
Railroad, Utilities and Energy [Member] · Burlington Northern Santa Fe ("BNSF") and subsidiaries [Member] 24,062 23,497 +2.4%
Show Legal Entity breakouts
Berkshire Hathaway Finance Corporation [Member] · Parent Company 4.85
Show Consolidated Entities breakouts
Parent Company 22,662 21,091 +7.4%
Liabilities Excluding Income Taxes Principally Deferred (Q)
Show Product Lines breakouts
Insurance and Other [Member] 305,937 311,220 -1.7%
Railroad, Utilities and Energy [Member] 109,581 105,136 +4.2%
Income Taxes Principally Deferred 86,955 85,870 +1.3%
Show Consolidated Entities breakouts
Parent Company 178 1,477 -87.9%
Stockholders' Equity
Common Stock 8 8 0.0%
Additional Paid In Capital Common Stock 35,612 35,665 -0.1%
Accumulated Other Comprehensive Income -2,448 -3,584 +31.7%
Retained Earnings 763,186 696,218 +9.6%
Treasury Stock Value -78,939 -78,939 0.0%
Total Stockholders' Equity 717,419 649,368 +10.5%
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment 521 1,148 -54.6%
Accumulated Net Unrealized Investment Gain Loss 235 117 +100.9%
Accumulated Other Comprehensive Income -2,448 -3,584 +31.7%
Accumulated Translation Adjustment -5,537 -7,039 +21.3%
Long duration insurance contracts [Member] 2,179 2,015 +8.1%
Other AOCI transactions [Member] 154 175 -12.0%
Show Consolidated Entities breakouts
Parent Company 717,419 649,368 +10.5%
Minority Interest 2,284 2,287 -0.1%
Stockholders Equity Including Portion Attributable To Noncontrolling Interest 719,703 651,655 +10.4%
Show Equity Components breakouts
Accumulated Other Comprehensive Income -2,448 -3,584 +31.7%
Common Stock Including Additional Paid In Capital 35,620 35,673 -0.1%
Noncontrolling Interest 2,284 2,287 -0.1%
Retained Earnings 763,186 696,218 +9.6%
Treasury Stock Common -78,939 -78,939 0.0%
Total Liabilities & Equity 1,222,176 1,153,881 +5.9%
Show Consolidated Entities breakouts
Parent Company 740,409 678,446 +9.1%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q4 2025 YTD Q4 2024 YoY
Operating Activities
Depreciation & Amortization 3,549 3,283 +8.1%
Show Business Segments breakouts
Berkshire Hathaway Energy ("BHE") [Member] · Operating Segments 1,102 1,024 +7.6%
BNSF [Member] · Operating Segments 688 657 +4.7%
Insurance Group [Member] · Operating Segments 109 119 -8.4%
Manufacturing Businesses [Member] · Operating Segments 636 594 +7.1%
McLane [Member] · Operating Segments 68 68 0.0%
Pilot Travel Centers LLC [Member] · Operating Segments 312 262 +19.1%
Service and Retailing [Member] · Operating Segments 427 381 +12.1%
Show Consolidation Items breakouts
Corporate, Eliminations and Other [Member] 207 178 +16.3%
Operating Segments 3,342 3,105 +7.6%
Accretion Amortization Of Discounts And Premiums Investments -3,118 -3,469 +10.1%
Other Non-Cash Items -3,868 -1,591 -143.1%
Increase Decrease In Liability For Claims And Claims Adjustment Expense Reserve 499 -712 +170.1%
Increase Decrease In Deferred Charges Retroactive Reinsurance 194 88 +120.5%
Increase Decrease In Unearned Premiums -2,151 -2,134 -0.8%
Increase Decrease In Receivables 3,504 2,373 +47.7%
Increase Decrease In Other Operating Assets -185 1,343 -113.8%
Increase Decrease In Other Operating Liabilities -800 -559 -43.1%
Increase Decrease In Income Taxes -183 -6,968 +97.4%
Net Cash from Operations 11,192 4,621 +142.2%
Investing Activities
Payments To Acquire Equity Securities Fv Ni -3,476 -3,428 -1.4%
Proceeds From Sale Of Equity Securities Fv Ni 6,640 10,141 -34.5%
Payments To Acquire U S Treasury Bills And Available For Sale Securities Debt -141,759 -141,618 -0.1%
Proceeds From Sale Of U S Treasury Bills And Available For Sale Securities Debt 15,531 17,707 -12.3%
Proceeds From Redemptions And Maturities Of U S Treasury Bills And Available For Sale Securities Debt 91,133 126,637 -28.0%
Capital Expenditures -6,202 -5,347 -16.0%
Other Investing Activities 815 572 +42.5%
Net Cash from Investing -38,392 4,268 -999.5%
Financing Activities
Proceeds From Issuance Of Long Term Debt (Q)
Show Product Lines breakouts
Insurance and Other [Member] 1,337 2,839 -52.9%
Railroad, Utilities and Energy [Member] 2,086 1,041 +100.4%
Repayments Of Long Term Debt (Q)
Show Product Lines breakouts
Insurance and Other [Member] -378 -35 -980.0%
Railroad, Utilities and Energy [Member] -721 -1,902 +62.1%
Proceeds From Repayments Of Short Term Debt 250 348 -28.2%
Proceeds From Payments For Other Financing Activities -63 -638 +90.1%
Net Cash from Financing 2,511 1,653 +51.9%
Supplemental
Income Taxes Paid 5,326 11,078 -51.9%
Interest Paid (Q)
Show Product Lines breakouts
Insurance and Other [Member] 222 199 +11.6%
Railroad, Utilities and Energy [Member] 910 932 -2.4%
Other Cash Flow
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 147 -158 +193.0%
Net Change in Cash -24,542 10,384 -336.3%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 52,569 48,376 +8.7%
Restricted Cash And Cash Equivalents 692 647 +7.0%

Values in millions USD. Source: SEC EDGAR 10-K filing.

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