Company: BRK-A
Filing Date: 2025-06-27
Form Type: 11-K
Source: 0001193125-25-149269
Chunk: 5

Company: BERKSHIRE HATHAWAY INC
Filing Date: 2025-06-27
Form: 11-K
Chunk 5
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 statements in conformity with GAAP requires the plan                                                                                                                                                   
 administrator to make estimates and assumptions that affect the reported amounts of net assets available for benefits at the date of the financial statements and the changes in net assets available for benefits during the reporting period and 
 disclosures of contingent assets and liabilities at the date of the financial statements. Actual results may, in some instances, differ from previously estimated amounts.                                                                         |

| c. | Investments. The Plan’s investments are stated at fair value. Shares of registered investment                                                                                                                                                             
 companies, collective trust, and common stock are valued based on published market prices, which represent the net asset value of shares held by the Plan at the end of year. Gains and losses on the sale of investments are accounted for on an average 
 cost basis. The Plan presents net changes in the fair value of investments, which consists of realized gains and losses, unrealized appreciation, and any income or capital gain distributions from such investments in the accompanying statement of     
 changes in net assets available for benefits. Purchases and sales of securities are recorded on a trade-date basis. Dividends are recorded on the ex-dividend date.                                                                                       |

| d. | Notes Receivable from Participants. Participant loans are valued at unpaid principal balance plus 
 accrued interest.                                                                                 |

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

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

| g. | Risk & uncertainties. The Plan utilizes various investment instruments.                                                                                                                                                                              
 Investment securities, in general, are exposed to various risks, such as interest rate, credit, and overall market volatility. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the 
 values of investment securities will occur in the near term and that such changes could materially affect participants’ account balances and the amounts reported in the financial statements.                                                       |

5

LIQUIDPOWER SPECIALTY PRODUCTS INC. 401(k) AND PROFIT SHARING 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 (Level 3). The three levels of the fair value hierarchy under the Financial Accounting Standards Board (“F