Company: BRK-A
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000950170-25-025210
Chunk: 169

Company: BERKSHIRE HATHAWAY INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 1B
Chunk 169
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, 2024 and the timing of when the performance obligations are expected to be satisfied follows (in millions).  

        Less than12 months

        Greater than12 months

        Total

        Electricity and natural gas
         
        $
        3,716

        $
        18,958

        $
        22,674

        Other sales and service contracts

        3,499

        4,630

        8,129

(24)Pension plans Certain Berkshire subsidiaries sponsor defined benefit pension plans. Plan benefits are generally based on years of service and compensation or fixed benefit rates. Plan sponsors may make contributions to the plans to meet regulatory requirements or may make discretionary contributions. Benefits under qualified U.S. and certain non-U.S. defined benefit pension plans are funded with assets held in trusts. Certain other non-qualified retirement plans are unfunded. Our net periodic pension expense for each of the three years ending December 31, 2024 was as follows (in millions).  

        2024

        2023

        2022

        Service cost
         
        $
        107

        $
        111

        $
        181

        Interest cost

        617

        640

        482

        Expected return on plan assets

        (818
        )

        (785
        )

        (975
        )

        Other

        41

        2

        156

        Net periodic pension expense
         
        $
        (53
        )
         
        $
        (32
        )
         
        $
        (156
        )
       
       The accumulated benefit obligation (“ABO”) is the actuarial present value of benefits earned based on service and compensation prior to the valuation date. The ABO was $11.2 billion at December 31, 2024 and $12.3 billion at December 31, 2023. The projected benefit obligation (“PBO”) is the actuarial present value of benefits earned based upon service and compensation prior to the valuation date and, if applicable, includes assumptions regarding future compensation levels. Reconciliations of the changes in plan assets and PBOs for each of the two years ending December 31, 2024 and the asset and liability balances reflected in the Consolidated Balance Sheets at year end 2024 and 2023 follow (in millions).  

        2024

        2023