Company: BRK-A
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000950170-25-025210
Chunk: 85

Company: BERKSHIRE HATHAWAY INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 1B
Chunk 85
---

     
    2023 vs 2022

    U.S. utilities
    $
    1,961
     
    $
    906
     
    $
    2,295

    116.4
    %
     
    (60.5
    )%

    Natural gas pipelines
     
    1,232

    1,079

    1,040

    14.2

    3.8

    Other energy businesses
     
    1,334

    1,024

    1,356

    30.3

    (24.5
    )

    Real estate brokerage
     
    (107
    )
     
    13

    100
     
    **

    (87.0
    )

    Corporate interest and other
     
    (394
    )
     
    (412
    )
     
    (439
    )
     
    (4.4
    )
     
    (6.2
    )

    $
    4,026
     
    $
    2,610
     
    $
    4,352

    54.3

    (40.0
    )

——————

** Not meaningful.

K-43

Management’s Discussion and Analysis 

Berkshire Hathaway Energy 

2024 versus 2023

Our U.S. utilities operate independently in several states, including Utah, Oregon, Wyoming and other Western states (PacifiCorp), Iowa and Illinois (MEC) and Nevada (NV Energy). Net earnings increased $1.1 billion (116.4%) in 2024 compared to 2023. Pre-tax loss accruals, net of expected insurance recoveries, for the Wildfires were $346 million in 2024 and $1.7 billion in 2023. See Note 27 to the accompanying Consolidated Financial Statements for additional information on the Wildfires. 

Additionally, net earnings of U.S. utilities in 2024 reflected comparative increases in electric utility margin (operating revenue less cost of sales), income tax benefits from recognized wind production tax credits ($157 million) and other income, partially offset by increases in other energy operating expenses and interest expense. 

The U.S. utilities’ electric utility margin was $7.8 billion in 2024, an increase of $274 million (3.6%) compared to