Company: BRK-A
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000950170-25-025210
Chunk: 200

Company: BERKSHIRE HATHAWAY INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7
Chunk 200
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Results of Operations 

Net earnings (loss) attributable to Berkshire shareholders for each of the past three years are disaggregated in the table that follows. Amounts are after deducting income taxes and exclude earnings attributable to noncontrolling interests (in millions). 

    2024

    2023

    2022

    Insurance – underwriting
    $
    9,020

    $
    5,428

    $
    (30
    )

    Insurance – investment income
     
    13,670

    9,567

    6,484

    BNSF
     
    5,031

    5,087

    5,946

    Berkshire Hathaway Energy (“BHE”)
     
    3,730

    2,331

    3,904

    Manufacturing, service and retailing
     
    13,072

    13,362

    12,512

    Non-controlled businesses*
     
    1,519

    1,750

    1,528

    Investment gains (losses)
     
    41,558

    58,873

    (53,612
    )

    Other
     
    1,395

    (175
    )

    509

    Net earnings (loss) attributable to Berkshire shareholders
    $
    88,995

    $
    96,223

    $
    (22,759
    )

——————

* Includes certain businesses in which Berkshire had between a 20% and 50% ownership interest. 

Through our subsidiaries, we engage in numerous diverse business activities. The business segment data (Note 26 to the accompanying Consolidated Financial Statements) should be referenced in conjunction with this discussion. 

Our periodic operating results may be affected in future periods due to impacts of ongoing macroeconomic and geopolitical events, as well as changes in industry or company-specific factors or events. We cannot reliably predict the future economic effects of these factors or events on our businesses. 

Insurance underwriting generated after-tax earnings of $9.0 billion in 2024 and $5.4 billion in 2023 and losses of $30 million in 2022. Earnings in 2024 and 2023 benefited from significantly improved operating results at GEICO, which generated a significant loss in 2022. Underwriting results in 2024 also included estimated claims from Hurricanes