Company: BRK-A
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000950170-25-025210
Chunk: 108

Company: BERKSHIRE HATHAWAY INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 1B
Chunk 108
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 issued term debt of $1.5 billion, with maturities ranging from 2035 to 2055 and a weighted average interest rate of 6.0%. Berkshire does not guarantee the repayment of debt issued by BNSF, BHE or any of their subsidiaries or affiliates. 

In 2024, our diverse group of businesses generated net operating cash flows of $30.6 billion, which was net of income tax payments of $28.5 billion. Income tax payments in 2024 included significant U.S. Federal income tax payments derived from taxable gains on sales of equity securities. The gross proceeds from such sales were included in cash flows from investing activities. 

Our consolidated capital expenditures for property, plant and equipment and equipment held for lease were $19.0 billion in 2024, which included capital expenditures by BNSF and BHE of $12.7 billion. BNSF and BHE maintain very large investments in capital assets (property, plant and equipment) and regularly make significant capital expenditures in the normal course of business. BHE and BNSF forecast capital expenditures in 2025 of approximately $14.0 billion. 

K-55

Management’s Discussion and Analysis 

Contractual Obligations 

We are party to other contracts associated with ongoing business activities, which will result in cash payments to counterparties in future periods. Our annual debt maturities for the next five years are summarized in Note 19 to the Consolidated Financial Statements. We also currently expect to pay interest on our debt ranging from $4.7 billion in 2025 to $4.1 billion in 2029 based on borrowings outstanding at December 31, 2024. Certain other obligations are included in our Consolidated Balance Sheets, such as operating lease liabilities and shared aircraft repurchase liabilities of NetJets. Estimated payments of these liabilities in each of the next five years are as follows (in billions): $2.0 in 2025; $1.8 in 2026; $2.0 in 2027; $2.2 in 2028; and $1.9 in 2029.

We are also obligated to pay claims arising from our property and casualty insurance companies. Such liabilities, including amounts from retroactive reinsurance, were approximately $148 billion at December 31, 2024. We currently forecast claim payments in 2025 of approximately $38 billion with respect to claims occurring prior to 2025. However, the timing and amount of