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

Company: BERKSHIRE HATHAWAY INC
Filing Date: 2025-06-23
Form: 11-K
Chunk 11
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     |   |     | Year Ended   
 December 31, 
 2024         |         |
|:-------------------------------------------------------------|:----|:--|:----|:-------------|--------:|
| Investment income:                                           |     |   |     |              |         |
| Net investment appreciation                                  |     | $ |     |              | 842,450 |
| Interest and dividend income                                 |     |   |     |              | 140,497 |
| Total                                                        |     | $ |     |              | 982,947 |
| Plan’s percentage of investment income from the Master Trust |     |   |     |              |    64 % |

The Master Trust’s investment at contract value is a stable-value fund, which invests in traditional and alternative guaranteed investment contracts (GICs). GICs are contracts between an issuer and the Plan that provide for a fixed return on principal amounts invested over a fixed period of time. As described in Note 2, because the investment contracts are fully benefit-responsive, contract value is the relevant measurement attribute for that portion of the net assets available for benefits attributable to the investment contracts. Contract value represents contributions made under the contract, plus earnings, less participant withdrawals and administrative expenses. Net assets and net investment income/loss are allocated to participating plans based on number of units owned. Participants may ordinarily direct the withdrawal or transfer of all or a portion of their investment at contract value. Alternative GICs (a form of wrap contract) are typically paired with an underlying single or multiple high-quality fixed income investments, fixed income mutual funds, or with units of a collective trust bond portfolio. The wrap contract is owned by the Plan while the underlying investments may or may not be owned by the Plan, depending on the contract. Wrap contracts are issued by insurance or financial services institutions. Investment gains and losses are amortized over the expected duration of the underlying investments of that contract through the calculation of an interest rate applicable to the contract on a prospective basis. The wrap contracts provide for a variable crediting rate, which typically resets quarterly, and the issuer of the wrap contract provides assurance that future adjustments to the crediting rate cannot result in a crediting rate less than zero. The wrap contract crediting rate is typically based on the current yield-to-maturityof the covered investments, plus or minus an amortization of the difference between the market value and contract value of the covered investments over the duration of the covered investments at the time of computation. The crediting rate is affected