Company: BRK-A
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000950170-25-101578
Chunk: 3

Company: BERKSHIRE HATHAWAY INC
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 2
Chunk 3
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Results of Operations 

Net earnings attributable to Berkshire shareholders are disaggregated in the table that follows. Amounts are after deducting income taxes and exclude earnings attributable to noncontrolling interests (in millions). 

     Second Quarter

     First Six Months

     2025

     2024

     2025

     2024

     Insurance – underwriting
     $
     1,992

     $
     2,263

     $
     3,328

     $
     4,861

     Insurance – investment income
      
     3,367

     3,320

     6,260

     5,918

     BNSF
      
     1,466

     1,227

     2,680

     2,370

     Berkshire Hathaway Energy (“BHE”)
      
     702

     655

     1,799

     1,372

     Manufacturing, service and retailing
      
     3,601

     3,380

     6,661

     6,468

     Investment gains (losses)
      
     4,970

     18,750

     (68
     )

     20,230

     Other-than-temporary impairment of investment in Kraft Heinz
      
     (3,760
     )

     —

     (3,760
     )

     —

     Other
      
     32

     753

     73

     1,831

     Net earnings attributable to Berkshire shareholders
     $
     12,370

     $
     30,348

     $
     16,973

     $
     43,050

Through our subsidiaries, we engage in numerous diverse business activities. The business segment data (Note 24 to the accompanying Consolidated Financial Statements and Note 26 to the Consolidated Financial Statements included in Form 10-K for the year ended December 31, 2024) should be read in conjunction with this discussion. 

Our periodic operating results may be affected in future periods by the impacts of ongoing macroeconomic and geopolitical conflicts and events, as well as changes in industry or company-specific factors or events. The pace of changes in these events, including tensions from developing international trade policies and tariffs, accelerated through the first six months of 2025. Considerable uncertainty remains as to the ultimate outcome of these events. We