BERKSHIRE HATHAWAY

BERKSHIRE HATHAWAY INC.
and Subsidiaries
CONSOLIDATED BALANCE SHEETS
(dollars in millions)
December 31,
2012 2011
ASSETS
Insurance and Other:
Cash and cash equivalents ..................................................................................... $ 42,358 $ 33,513
Investments:
Fixed maturity securities ................................................................................... 31,449 31,222
Equity securities ......................................................................................... 86,467 76,063
Other .................................................................................................. 16,057 13,111
Receivables ................................................................................................. 21,753 19,012
Inventories .................................................................................................. 9,675 8,975
Property, plant and equipment .................................................................................. 19,188 18,177
Goodwill ................................................................................................... 33,274 32,125
Other ...................................................................................................... 17,875 18,121
Railroad, Utilities and Energy:
278,096 250,319
Cash and cash equivalents ..................................................................................... 2,570 2,246
Property, plant and equipment .................................................................................. 87,684 82,214
Goodwill ................................................................................................... 20,213 20,056
Other ...................................................................................................... 13,441 12,861
Finance and Financial Products:
123,908 117,377
Cash and cash equivalents ..................................................................................... 2,064 1,540
Investments in fixed maturity securities ........................................................................... 842 966
Other investments ............................................................................................ 4,952 3,810
Loans and finance receivables .................................................................................. 12,809 13,934
Goodwill ................................................................................................... 1,036 1,032
Other ...................................................................................................... 3,745 3,669
25,448 24,951
$427,452 $392,647
LIABILITIES AND SHAREHOLDERS’ EQUITY
Insurance and Other:
Losses and loss adjustment expenses ............................................................................. $ 64,160 $ 63,819
Unearned premiums .......................................................................................... 10,237 8,910
Life, annuity and health insurance benefits ........................................................................ 10,943 9,924
Accounts payable, accruals and other liabilities ..................................................................... 21,149 18,466
Notes payable and other borrowings .............................................................................. 13,535 13,768
Railroad, Utilities and Energy:
120,024 114,887
Accounts payable, accruals and other liabilities ..................................................................... 13,113 13,016
Notes payable and other borrowings .............................................................................. 36,156 32,580
Finance and Financial Products:
49,269 45,596
Accounts payable, accruals and other liabilities ..................................................................... 1,099 1,224
Derivative contract liabilities ................................................................................... 7,933 10,139
Notes payable and other borrowings .............................................................................. 13,045 14,036
22,077 25,399
Income taxes, principally deferred ................................................................................... 44,494 37,804
Total liabilities ......................................................................................
Shareholders’ equity:
235,864 223,686
Common stock .............................................................................................. 8 8
Capital in excess of par value ................................................................................... 37,230 37,807
Accumulated other comprehensive income ........................................................................ 27,500 17,654
Retained earnings ............................................................................................ 124,272 109,448
Treasury stock, at cost ......................................................................................... (1,363) (67)
Berkshire Hathaway shareholders’ equity ................................................................. 187,647 164,850
Noncontrolling interests ....................................................................................... 3,941 4,111
Total shareholders’ equity .............................................................................. 191,588 168,961
$427,452 $392,647
See accompanying Notes to Consolidated Financial Statements
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