Company: BRK-A
Filing Date: 2025-06-23
Form Type: 11-K
Source: 0001193125-25-144508
Chunk: 13

Company: BERKSHIRE HATHAWAY INC
Filing Date: 2025-06-23
Form: 11-K
Chunk 13
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 investments reaches zero or upon certain events of default. If the contract terminates due to issuer default, the issuer will generally be required to pay
to the Plan the excess, if any, of contract value over market value on the date of termination. If the contract terminates when the market value equals zero, the issuer will pay the excess of contract value over market value to the Plan to the
extent necessary for the Plan to satisfy outstanding contract value withdrawal requests.

NOTE 5 - RELATED PARTY AND PARTY-IN-INTERESTTRANSACTIONS

Certain Plan investments held in the Master Trust are shares
of mutual funds or common / collective trusts managed by the Trustee. The Plan also invests in the Class B common stock of Berkshire, a related party, through the Company Stock Fund, which is also held in the Master Trust. The Master Trust
recorded purchases of $44 million and sales of $91 million of Berkshire Class B common stock during the year ended December 31, 2024. Transactions in such investments qualify as party-in-interest transactions, which are exempt from the prohibited transaction rules.

Notes
receivable from participants are also considered party-in-interest transactions.

Administrative expenses of the Plan, except for certain participant loan fees and Qualified Domestic Relations Order fees, are paid by BNSF
Railway. For the year ended December 31, 2024, BNSF Railway paid $895 thousand in administrative expenses on behalf of the Plan.

NOTE 6 - INCOME TAX STATUS

The Internal Revenue Service determined and informed BNSF Railway by letter dated May 21, 2018, that the Plan
was qualified under IRC Section 401(a). The Plan has subsequently been amended and restated since receiving the determination letter; however, the Plan Administrator and tax counsel believe the Plan is designed and is currently operating in
compliance with the applicable requirements of the IRC. Therefore, no provision for income taxes has been included in the Plan’s financial statements.

In accordance with IRC Section 401(k), amounts deducted from participants’ salaries as
before-tax contributions are not income taxable to the participants until withdrawn or distributed. Non-Roth after-tax
contributions are not subject to taxation upon withdrawal or distribution. Roth after-tax contributions and earnings are not subject to taxation upon withdrawal or distribution.

GAAP requires management to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if the Plan has taken an
uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service.