# EDGAR Filing Document

**Accession Number:** 0001067983
**File Stem:** 0001193125-25-172579
**Filing Date:** 2025-8
**Character Count:** 11641
**Document Hash:** ade46b40261166606fed26102894eab1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-172579.hdr.sgml**: 20250804

**ACCESSION NUMBER**: 0001193125-25-172579

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20250802

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250804

**DATE AS OF CHANGE**: 20250804

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BERKSHIRE HATHAWAY INC
- **CENTRAL INDEX KEY:** 0001067983
- **STANDARD INDUSTRIAL CLASSIFICATION:** FIRE, MARINE & CASUALTY INSURANCE [6331]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 470813844
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-14905
- **FILM NUMBER:** 251180047

**BUSINESS ADDRESS:**
- **STREET 1:** 3555 FARNAM STREET
- **CITY:** OMAHA
- **STATE:** NE
- **ZIP:** 68131
- **BUSINESS PHONE:** 4023461400

**MAIL ADDRESS:**
- **STREET 1:** 3555 FARNAM STREET
- **CITY:** OMAHA
- **STATE:** NE
- **ZIP:** 68131

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NBH INC
- **DATE OF NAME CHANGE:** 19980810

?xml version='1.0' encoding='ASCII'? 8-K

### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### WASHINGTON, D.C. 20549

### FORM 8-K

#### CURRENT REPORT

#### PURSUANT TO SECTION 13 OR 15 (D)

#### OF THE SECURITIES EXCHANGE ACT OF 1934

#### DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) August 2, 2025

## BERKSHIRE HATHAWAY INC.

#### (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

---

| | | |
|:---|:---|:---|
| **DELAWARE** | **001-14905** | **47-0813844** |
| **(STATE OR OTHER JURISDICTION**<br> **OF INCORPORATION)** | **(COMMISSION**<br> **FILE NUMBER)** | **(I.R.S. EMPLOYER**<br> **IDENTIFICATION NO.)** |

---

---

| | |
|:---|:---|
| **3555 Farnam Street** |  |
| **Omaha, Nebraska** | **68131** |
| **(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)** | **(ZIP CODE)** |

---

(402) 346-1400

#### REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading**<br> **Symbols** | **Name of each exchange**<br> **on which registered** |
| Class A Common Stock | BRK.A | New York Stock Exchange |
| Class B Common Stock | BRK.B | New York Stock Exchange |
| 1.125% Senior Notes due 2027 | BRK27 | New York Stock Exchange |
| 2.150% Senior Notes due 2028 | BRK28 | New York Stock Exchange |
| 1.500% Senior Notes due 2030 | BRK30 | New York Stock Exchange |
| 2.000% Senior Notes due 2034 | BRK34 | New York Stock Exchange |
| 1.625% Senior Notes due 2035 | BRK35 | New York Stock Exchange |
| 2.375% Senior Notes due 2039 | BRK39 | New York Stock Exchange |
| 0.500% Senior Notes due 2041 | BRK41 | New York Stock Exchange |
| 2.625% Senior Notes due 2059 | BRK59 | New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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ITEM 2.02 Results of Operations and Financial Condition.

On August 2, 2025, Berkshire Hathaway Inc. issued a press release announcing the Company's earnings for the second quarter and first six months ended June 30, 2025. A copy of this press release is furnished with this report as an exhibit to this Form 8-K.

ITEM 9.01 Financial Statements and Exhibits

---

| | |
|:---|:---|
| Exhibit 99.1 | [Berkshire Hathaway Inc. Earnings Release Dated August 2, 2025](d940849dex991.htm) |
| Exhibit 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

------

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
| August 4, 2025 | BERKSHIRE HATHAWAY INC.<br>|
|  | /s/ Marc D. Hamburg |
|  | By: Marc D. Hamburg |
|  | Senior Vice President and Chief Financial Officer |

---

## Exhibit 99.1

**Exhibit 99.1** 

**BERKSHIRE HATHAWAY INC.** 

**NEWS RELEASE** 

---

| | |
|:---|:---|
| **FOR IMMEDIATE RELEASE** | **August 2, 2025** |

---

Omaha, NE (BRK.A; BRK.B) –

Berkshire's operating results for the second quarter and first six months of 2025 and 2024 are summarized in the following paragraphs. However, we urge investors and reporters to read our 10-Q, which has been posted at <u>www.berkshirehathaway.com</u>. *The limited information that follows in this press release is not adequate for making an informed investment judgment*.

Earnings of Berkshire Hathaway Inc. and its consolidated subsidiaries for the second quarter and first six months of 2025 and 2024 are summarized below. Earnings are stated on an after-tax basis. (Dollar amounts are in millions, except for per share amounts).

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Second Quarter | Second Quarter | First Six Months | First Six Months |
|  | 2025 | 2024 | 2025 | 2024 |
|  Net earnings attributable to Berkshire shareholders | $12370 | $30348 | $16973 | $43050 |
|  Net earnings includes: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment gains (losses) | 4970 | 18750 | (68) | 20230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other-than-temporary impairment of investment in Kraft Heinz | (3760) |  | (3760) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating earnings | 11160 | 11598 | 20801 | 22820 |
|  Net earnings attributable to Berkshire shareholders | $12370 | $30348 | $16973 | $43050 |
|  Net earnings per average equivalent Class A Share | $8601 | $21122 | $11801 | $29936 |
|  Net earnings per average equivalent Class B Share | $5.73 | $14.08 | $7.87 | $19.96 |
|  Average equivalent Class A shares outstanding | 1438223 | 1436790 | 1438223 | 1438080 |
|  Average equivalent Class B shares outstanding | 2157335139 | 2155185283 | 2157335139 | 2157120209 |

---

*Note: Per share amounts for the Class B shares are 1/1,500<sup>th</sup> of those shown for the Class A shares.*

Generally Accepted Accounting Principles ("GAAP") require that we include the changes in unrealized gains (losses) of our equity security investments as a component of investment gains (losses) in our earnings statements. In the table above, investment gains (losses) in 2025 include gains of $1.5 billion in the second quarter and losses of $5.9 billion in the first six months and in 2024 include losses of $28.2 billion in the second quarter and $37.9 billion in the first six months due to *changes* during the second quarter and the first six months in the *unrealized* gains that existed in our equity security investment holdings. Investment gains (losses) in 2025 also include after-tax realized gains of $4.2 billion in the second quarter and $6.6 billion in the first six months and in 2024 include after-tax realized gains on sales of investments of $47.0 billion in the second quarter and $58.2 billion in the first six months.

------

***The amount of investment gains (losses) in any given quarter is usually meaningless and delivers figures for net earnings per share that can be extremely misleading to investors who have little or no knowledge of accounting rules.***

An analysis of Berkshire's operating earnings follows (dollar amounts are in millions).

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Second Quarter | Second Quarter | First Six Months | First Six Months |
|  | 2025 | 2024 | 2025 | 2024 |
|  Insurance-underwriting | $1992 | $2263 | $3328 | $4861 |
|  Insurance-investment income | 3367 | 3320 | 6260 | 5918 |
|  BNSF | 1466 | 1227 | 2680 | 2370 |
|  Berkshire Hathaway Energy Company | 702 | 655 | 1799 | 1372 |
|  Manufacturing, service and retailing | 3601 | 3380 | 6661 | 6468 |
|  Other\* | 32 | 753 | 73 | 1831 |
|  Operating earnings | $11160 | $11598 | $20801 | $22820 |

---

*\** *Includes foreign currency exchange losses related to non-U.S. Dollar denominated debt in 2025 of $877 million in the second quarter and $1.59 billion in the first six months and in 2024 includes foreign currency exchange gains of $446 million in the second quarter and $1.04 billion in the first six months.* 

On June 30, 2025, there were 1,438,223 Class A equivalent shares outstanding. At June 30, 2025, insurance float (the net liabilities we assume under insurance contracts) was approximately $174 billion, an increase of $3 billion since yearend 2024.

**Use of Non-GAAP Financial Measures** 

This press release includes certain non-GAAP financial measures. The reconciliations of such measures to the most comparable GAAP figures in accordance with Regulation G are included herein.

Berkshire presents its results in the way it believes will be most meaningful and useful, as well as most transparent, to the investing public and others who use Berkshire's financial information. That presentation includes the use of certain non-GAAP financial measures. In addition to the GAAP presentations of net earnings, Berkshire shows operating earnings defined as net earnings exclusive of investment gains (losses), impairments of goodwill and intangible assets and other-than-temporary impairments of equity method investments.

Although the investment of insurance and reinsurance premiums to generate investment income and investment gains or losses is an integral part of Berkshire's operations, the generation of investment gains or losses is independent of the insurance underwriting process. Moreover, as previously described, under applicable GAAP accounting requirements, we are required to include the changes in unrealized gains (losses) of our equity security investments as a component of investment gains (losses) in our periodic earnings statements. In sum, investment gains (losses) for any particular period are not indicative of quarterly business performance.

**About Berkshire** 

Berkshire Hathaway and its subsidiaries engage in diverse business activities including insurance and reinsurance, utilities and energy, freight rail transportation, manufacturing, retailing and services. Common stock of the company is listed on the New York Stock Exchange, trading symbols BRK.A and BRK.B.

**Cautionary Statement** 

Certain statements contained in this press release are "forward looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are not guaranties of future performance and actual results may differ materially from those forecasted.

— END —

Contact

Marc D. Hamburg

402-346-1400