Company: BRK-A
Filing Date: 2025-06-20
Form Type: 11-K
Source: 0001193125-25-143559
Chunk: 5

Company: BERKSHIRE HATHAWAY INC
Filing Date: 2025-06-20
Form: 11-K
Chunk 5
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50,000 minus the highest outstanding balance of the participant’s total Plan loans during the last 12 months. The loans are secured by the balance in the participant’s account. A reasonable rate of interest is charged on       
 loans. Currently, the Plan charges interest at the federal Prime rate plus 2%.                                                                                                                                                                      |

| 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 financial statements in accordance with accounting principles generally                                                                                                                                                    
 accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and changes therein, and disclosure of contingent assets and liabilities. Actual results could 
 differ from those estimates.                                                                                                                                                                                                                             |

| c. | Investments. Investments are reported at fair value. Fair value is the price that would be received to                                                                                                                                      
 sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Plan’s Investment Committee determines the Plan’s valuation policies utilizing information provided by the 
 investment advisers, custodians and insurance company. See note 3 for discussion of fair value measurements.                                                                                                                                |

Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividenddate. Net appreciation includes the Plan’s gains and losses on investments bought and sold as well as held during the year.

| d. | Notes receivable from participants. Participant loans are valued at unpaid principal balance plus               
 accrued interest. Related fees are recorded as administrative expenses and are expensed when they are incurred. |

| e. | Contributions. Contributions by participants and participating employers are accounted for on the 
 accrual basis once determined.                                                                    |

| f. | Benefit payments. Benefit payments are recorded when paid. |

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ACME BRICK COMPANY 401(k) RETIREMENT & SAVINGS PLAN Notes to Financial Statements - Continued

| 3. | FAIR VALUE MEASUREMENTS |

The framework for measuring fair value provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (