Company: BRK-A
Filing Date: 2025-06-25
Form Type: 11-K
Source: 0001193125-25-146903
Chunk: 8

Company: BERKSHIRE HATHAWAY INC
Filing Date: 2025-06-25
Form: 11-K
Chunk 8
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 form of promissory notes are measured at their unpaid principal balance plus any accrued but unpaid interest. Interest income is recorded on an accrual basis. Related fees are recorded as administrative expenses and are expensed when they are incurred.

| [6] | Administrative expenses: |

Investment-related and recordkeeping expenses are paid from the Plan’s assets. Certain investment-related expenses are recorded as a reduction of net investment income in the financial statements. Personnel and facilities of the Company have been used by the Plan for its accounting and other activities at no cost to the Plan. N OTEC – F AIRV ALUEM EASUREMENTS Fair value is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The established framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The three levels of the fair value hierarchy are described as follows:

| Level 1 - |     | Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access.                                                                                   |
| Level 2 - |     | Inputs to the valuation methodology that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or             
 can be corroborated by observable market data for substantially the full term of the assets or liabilities. If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of 
 the asset or liability.                                                                                                                                                                                                                           |
| Level 3 - |     | Inputs to the valuation methodology are unobservable and significant to the fair value measurement.                                                                                                                                               |

A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs. The following is a description of the valuation methodologies used for the Plan’s instruments measured at fair value, including the general classification of such instruments pursuant to the valuation hierarchy. There have been no changes in the methodologies used as of December 31, 2024 and 2023. Stable Value Collective Trust Fund A stable value fund is a form of common collective trust funds, which is composed primarily of fully benefit-responsive investment contracts and is valued at the net asset value (“NAV”) of units