Company: BRK-A
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000950170-25-025210
Chunk: 233

Company: BERKSHIRE HATHAWAY INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7
Chunk 233
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 in unit sales and changes in sales mix. Forest River experienced strong recreational vehicle unit sales through the first half of 2022. Through most of 2023, sales of recreational vehicles declined significantly, attributable in part to the impact of rising interest rates, inflation and other macroeconomic conditions. The decline in recreational vehicle sales was partially offset by increased sales of bus and commercial vehicles. 

Revenues of our apparel and footwear businesses declined $452 million (9.4%) in 2023 compared to 2022. The decline was primarily due to reduced apparel revenues, attributable to lower unit volumes, partially offset by higher average selling prices. Duracell’s revenues in 2023 were relatively flat versus 2022. 

K-49

Management’s Discussion and Analysis 

Manufacturing, Service and Retailing 

Pre-tax earnings of the consumer products group increased $46 million (3.0%) in 2023 compared to 2022. Pre-tax earnings in 2023 reflected the impact of the Jazwares acquisition and higher earnings from the apparel and footwear businesses, partially offset by lower earnings from Forest River and Duracell. Certain of our apparel and footwear businesses took actions in 2023 to reduce inventories and right-size operations. The Forest River earnings decline in 2023 was primarily due to the impact of lower sales volumes, while the decline at Duracell was primarily attributable to higher restructuring costs. 

Service and retailing 

A summary of revenues and pre-tax earnings of our service and retailing businesses follows (dollars in millions). 

    Percentage change

    2024
     
    2023
     
    2022
     
    2024 vs 2023
     
    2023 vs 2022

    Revenues

    Service
    $
    20,697
     
    $
    20,588
     
    $
    19,006

    0.5
    %
     
    8.3
    %

    Retailing
     
    19,177

    19,408

    19,297

    (1.2
    )
     
    0.6

    Pilot
     
    46,891

    51,739

    —

    (9.4
    )

    McLane
     
    51,907

    52,607

    53,209

    (1.3