Company: BRK-A
Filing Date: 2025-06-27
Form Type: 11-K
Source: 0001193125-25-149269
Chunk: 4

Company: BERKSHIRE HATHAWAY INC
Filing Date: 2025-06-27
Form: 11-K
Chunk 4
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 a participant dies or becomes disabled. Distributions upon withdrawal are made in accordance with the Plan document. When a participant reaches the age of 59 
 1⁄2, the in-service distribution may occur from all vested accounts.                                                                                                                                                  |

4

LIQUIDPOWER SPECIALTY PRODUCTS INC. 401(k) AND PROFIT SHARING PLAN Notes to Financial Statements - Continued

| g. | Hardship Distributions: A participant may receive a hardship distribution from salary reduction                                                                                                                                                 
 contributions and rollover contributions if the distribution is: (1) on account of uninsured medical expenses incurred by the participant, their spouse or dependents; (2) to purchase (excluding mortgage payments) a principal residence of   
 the participant; (3) for the payment of post-secondary tuition expenses for the participant, their spouse or dependents; (4) needed to prevent eviction of the participant from his or her principal residence or foreclosure upon the mortgage 
 of the participant’s principal residence; (5) for burial or funeral expenses for the participant’s parent, spouse, children or dependents; or, (6) for expenses for the repair of damage to the participant’s principal                         
 residence caused by fire, storm, or other casualty.                                                                                                                                                                                             |

| h. | Notes Receivable from Participants. Participants may borrow from their fund accounts a minimum of                                                                                                                                                   
 $1,000 up to a maximum equal to the lesser of 50% of the participant’s vested account balance or $50,000 reduced by the participant’s highest outstanding note balance during the prior twelve-month period. Participants can have one note         
 outstanding at a time. Participant notes are secured by the participant’s account balance, and bear interest at a reasonable rate of interest which shall remain fixed throughout the duration of the note. All notes require that repayment be     
 amortized in level payments, not less than quarterly, over a period not extending beyond five years from the date of the note or fifteen years for notes to acquire a principal residence. Notes receivable from participants are measured at their 
 unpaid principal balance plus any accrued but unpaid interest. Delinquent notes receivable from participants are recorded as distributions upon liquidation of their account balance.                                                               |

| 2. | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |

| a. | Basis of accounting. The financial statements of the Plan are prepared under the accrual method of               
 accounting in accordance with accounting principles generally accepted in the United States of America (“GAAP”). |

| b. | Estimates. The preparation of the financial