Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2022 | Oct. 26, 2022 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2022 | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q3 | |
Entity File Number | 001-14905 | |
Entity Tax Identification Number | 47-0813844 | |
Entity Address, Address Line One | 3555 Farnam Street | |
Entity Address, City or Town | Omaha | |
Entity Address, State or Province | NE | |
Entity Address, Postal Zip Code | 68131 | |
City Area Code | 402 | |
Local Phone Number | 346-1400 | |
Entity Registrant Name | BERKSHIRE HATHAWAY INC | |
Entity Central Index Key | 0001067983 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Interactive Data Current | Yes | |
Entity Incorporation, State or Country Code | DE | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Common Class A [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 596,826 | |
Security 12b Title | Class A Common Stock | |
Trading Symbol | BRK.A | |
Security Exchange Name | NYSE | |
Common Class B [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 1,301,981,370 | |
Security 12b Title | Class B Common Stock | |
Trading Symbol | BRK.B | |
Security Exchange Name | NYSE | |
M 0.750 Senior Notes Due 2023 [Member] | ||
Document Information [Line Items] | ||
Security 12b Title | 0.750% Senior Notes due 2023 | |
Trading Symbol | BRK23 | |
Security Exchange Name | NYSE | |
M 0.625 Senior Notes Due 2023 [Member] | ||
Document Information [Line Items] | ||
Security 12b Title | 0.625% Senior Notes due 2023 | |
Trading Symbol | BRK23A | |
Security Exchange Name | NYSE | |
M 1.300 Senior Notes Due 2024 [Member] | ||
Document Information [Line Items] | ||
Security 12b Title | 1.300% Senior Notes due 2024 | |
Trading Symbol | BRK24 | |
Security Exchange Name | NYSE | |
M 0.000 Senior Notes Due 2025 [Member] | ||
Document Information [Line Items] | ||
Security 12b Title | 0.000% Senior Notes due 2025 | |
Trading Symbol | BRK25 | |
Security Exchange Name | NYSE | |
M 1.125 Senior Notes Due 2027 [Member] | ||
Document Information [Line Items] | ||
Security 12b Title | 1.125% Senior Notes due 2027 | |
Trading Symbol | BRK27 | |
Security Exchange Name | NYSE | |
M 2.150 Senior Notes Due 2028 [Member] | ||
Document Information [Line Items] | ||
Security 12b Title | 2.150% Senior Notes due 2028 | |
Trading Symbol | BRK28 | |
Security Exchange Name | NYSE | |
M 1.500 Senior Notes Due 2030 [Member] | ||
Document Information [Line Items] | ||
Security 12b Title | 1.500% Senior Notes due 2030 | |
Trading Symbol | BRK30 | |
Security Exchange Name | NYSE | |
M 2.000 Senior Notes Due 2034 [Member] | ||
Document Information [Line Items] | ||
Security 12b Title | 2.000% Senior Notes due 2034 | |
Trading Symbol | BRK34 | |
Security Exchange Name | NYSE | |
M 1.625 Senior Notes Due 2035 [Member] | ||
Document Information [Line Items] | ||
Security 12b Title | 1.625% Senior Notes due 2035 | |
Trading Symbol | BRK35 | |
Security Exchange Name | NYSE | |
M 2.375 Senior Notes Due 2039 [Member] | ||
Document Information [Line Items] | ||
Security 12b Title | 2.375% Senior Notes due 2039 | |
Trading Symbol | BRK39 | |
Security Exchange Name | NYSE | |
M 0.500 Senior Notes Due 2041 [Member] | ||
Document Information [Line Items] | ||
Security 12b Title | 0.500% Senior Notes due 2041 | |
Trading Symbol | BRK41 | |
Security Exchange Name | NYSE | |
M 2.625 Senior Notes Due 2059 [Member] | ||
Document Information [Line Items] | ||
Security 12b Title | 2.625% Senior Notes due 2059 | |
Trading Symbol | BRK59 | |
Security Exchange Name | NYSE |
Consolidated Balance Sheets
Consolidated Balance Sheets € in Millions, £ in Millions, $ in Millions, ¥ in Billions | Sep. 30, 2022 USD ($) | Dec. 31, 2021 USD ($) | |||
ASSETS | |||||
Investments in fixed maturity securities | $ 18,602 | $ 16,434 | |||
Investments in equity securities | 306,167 | [1] | 350,719 | [2] | |
Equity method investments | 28,714 | 17,375 | |||
Loans and finance receivables | 22,094 | 20,751 | |||
Inventories | 25,102 | 20,954 | |||
Equipment held for lease | 15,139 | 14,918 | |||
Goodwill | [3] | 73,335 | 73,875 | ||
Total assets | 902,296 | 958,784 | |||
LIABILITIES | |||||
Income taxes, principally deferred | 74,155 | 90,243 | |||
Total liabilities | 438,549 | 443,854 | |||
Shareholders’ equity: | |||||
Common stock | 8 | 8 | |||
Capital in excess of par value | 35,190 | 35,592 | |||
Accumulated other comprehensive income | (8,234) | (4,027) | |||
Retained earnings | 493,438 | 534,421 | |||
Treasury stock, at cost | (64,972) | (59,795) | |||
Berkshire Hathaway shareholders’ equity | 455,430 | 506,199 | |||
Noncontrolling interests | 8,317 | 8,731 | |||
Total shareholders’ equity | 463,747 | 514,930 | |||
Total liabilities and shareholders' equity | 902,296 | 958,784 | |||
Insurance and Other [Member] | |||||
ASSETS | |||||
Cash and cash equivalents | [4] | 28,869 | 85,319 | ||
Short-term investments in U.S. Treasury Bills | 76,332 | 58,535 | |||
Investments in fixed maturity securities | 18,602 | 16,434 | |||
Investments in equity securities | 306,167 | 350,719 | |||
Equity method investments | 28,714 | 17,375 | |||
Loans and finance receivables | 22,094 | 20,751 | |||
Other receivables | 40,383 | 35,388 | |||
Inventories | 25,102 | 20,954 | |||
Property, plant and equipment | 20,378 | 20,834 | |||
Equipment held for lease | 15,139 | 14,918 | |||
Goodwill | 46,822 | 47,117 | |||
Other intangible assets | 27,738 | 28,486 | |||
Deferred charges - retroactive reinsurance | 9,990 | 10,639 | |||
Other | 16,753 | 15,854 | |||
Total assets | 683,083 | 743,323 | |||
LIABILITIES | |||||
Unpaid losses and loss adjustment expenses | 91,642 | 86,664 | |||
Unpaid losses and loss adjustment expenses under retroactive reinsurance contracts | 36,666 | 38,256 | |||
Unearned premiums | 26,878 | 23,512 | |||
Life, annuity and health insurance benefits | 22,305 | 22,452 | |||
Other policyholder liabilities | 9,051 | 9,330 | |||
Accounts payable, accruals and other liabilities | 31,100 | 30,376 | |||
Aircraft repurchase liabilities and unearned lease revenues | 6,165 | 5,849 | |||
Notes payable and other borrowings | 41,535 | 39,272 | |||
Total liabilities | 265,342 | 255,711 | |||
Railroad, Utilities and Energy [Member] | |||||
ASSETS | |||||
Cash and cash equivalents | [4] | 3,757 | 2,865 | ||
Receivables | 4,985 | 4,177 | |||
Property, plant and equipment | 157,472 | 155,530 | |||
Goodwill | 26,513 | 26,758 | |||
Regulatory assets | 4,750 | 3,963 | |||
Other | 21,736 | 22,168 | |||
Total assets | 219,213 | 215,461 | |||
LIABILITIES | |||||
Accounts payable, accruals and other liabilities | 16,871 | 15,696 | |||
Regulatory liabilities | 7,220 | 7,214 | |||
Notes payable and other borrowings | 74,961 | 74,990 | |||
Total liabilities | $ 99,052 | $ 97,900 | |||
[1] Approximately 73 % of the aggregate fair value was concentrated in five companies (American Express Company – $ 20.5 billion; Apple Inc. – $ 126.5 billion; Bank of America Corporation – $ 31.2 billion; The Coca-Cola Company – $ 22.4 billion and Chevron Corporation – $ 24.4 billion). Approximately 73 % of the aggregate fair value was concentrated in four companies (American Express Company – $ 24.8 billion; Apple Inc. – $ 161.2 billion; Bank of America Corporation – $ 46.0 billion and The Coca-Cola Company – $ 23.7 billion). Net of accumulated goodwill impairments of $ 11.0 billion as of September 30, 2022 and December 31, 2021. Includes U.S. Treasury Bills with maturities of three months or less when purchased of $ 1.9 billion at September 30, 2022 and $ 61.7 billion at December 31, 2021. |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Billions | Sep. 30, 2022 | Dec. 31, 2021 |
U.S. Treasury Bills [Member] | ||
Cash equivalents | $ 1.9 | $ 61.7 |
Consolidated Statements of Earn
Consolidated Statements of Earnings - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | ||
Revenues: | |||||
Leasing revenues | $ 1,959 | $ 1,565 | $ 5,518 | $ 4,336 | |
Total revenues | 76,934 | 70,583 | 223,924 | 204,296 | |
Investment and derivative contract gains (losses) | (13,465) | 4,921 | (82,362) | 38,015 | |
Costs and expenses: | |||||
Total costs and expenses | 68,027 | 63,397 | 195,397 | 180,353 | |
Earnings (loss) before income taxes and equity method earnings | (4,558) | 12,107 | (53,835) | 61,958 | |
Equity method earnings | 441 | 377 | 1,048 | 775 | |
Earnings (loss) before income taxes | (4,117) | 12,484 | (52,787) | 62,733 | |
Income tax expense (benefit) | (1,529) | 1,840 | (12,408) | 11,824 | |
Net earnings (loss) | (2,588) | 10,644 | (40,379) | 50,909 | |
Earnings attributable to noncontrolling interests | 100 | 300 | 604 | 760 | |
Net earnings (loss) attributable to Berkshire Hathaway shareholders | $ (2,688) | $ 10,344 | $ (40,983) | $ 50,149 | |
Equivalent Class A [Member] | |||||
Earnings per share: | |||||
Net earnings (loss) per average equivalent | $ (1,832) | $ 6,882 | $ (27,866) | $ 33,025 | |
Average equivalent shares outstanding | 1,466,946 | 1,503,013 | 1,470,714 | 1,518,513 | |
Equivalent Class B [Member] | |||||
Earnings per share: | |||||
Net earnings (loss) per average equivalent | [1] | $ (1.22) | $ 4.59 | $ (18.58) | $ 22.02 |
Average equivalent shares outstanding | 2,200,419,462 | 2,254,518,838 | 2,206,070,294 | 2,277,769,582 | |
Insurance and Other [Member] | |||||
Revenues: | |||||
Insurance premiums earned | $ 18,810 | $ 17,727 | $ 54,389 | $ 51,314 | |
Sales and service revenues | 39,597 | 36,722 | 117,679 | 107,163 | |
Leasing revenues | 1,959 | 1,565 | 5,518 | 4,336 | |
Interest, dividend and other investment income | 2,378 | 1,795 | 7,101 | 5,544 | |
Total revenues | 62,744 | 57,809 | 184,687 | 168,357 | |
Costs and expenses: | |||||
Insurance losses and loss adjustment expenses | 16,005 | 13,939 | 42,957 | 37,078 | |
Life, annuity and health insurance benefits | 1,450 | 1,568 | 4,055 | 4,507 | |
Insurance underwriting expenses | 2,506 | 3,239 | 7,734 | 9,318 | |
Cost of sales and services | 31,292 | 28,984 | 92,710 | 84,275 | |
Cost of leasing | 1,418 | 1,116 | 4,148 | 2,980 | |
Selling, general and administrative expenses | 4,068 | 4,889 | 12,081 | 13,844 | |
Interest expense | 297 | 286 | 863 | 860 | |
Total costs and expenses | 57,036 | 54,021 | 164,548 | 152,862 | |
Railroad, Utilities and Energy [Member] | |||||
Revenues: | |||||
Freight rail transportation revenues | 6,663 | 5,761 | 19,219 | 16,917 | |
Energy operating revenues | 6,090 | 5,225 | 15,843 | 14,375 | |
Service revenues and other income | 1,437 | 1,788 | 4,175 | 4,647 | |
Total revenues | 14,190 | 12,774 | 39,237 | 35,939 | |
Costs and expenses: | |||||
Freight rail transportation expenses | 4,581 | 3,527 | 12,766 | 10,625 | |
Utilities and energy cost of sales and other expenses | 4,295 | 3,497 | 11,730 | 10,306 | |
Other expenses | 1,320 | 1,582 | 4,003 | 4,238 | |
Interest expense | 795 | 770 | 2,350 | 2,322 | |
Total costs and expenses | $ 10,991 | $ 9,376 | $ 30,849 | $ 27,491 | |
[1] Class B shares are economically equivalent to one-fifteen-hundredth of a Class A share. Accordingly, net earnings (loss) per average equivalent Class B share outstanding is equal to one-fifteen-hundredth of the equivalent Class A amount. See Note 17. |
Consolidated Statements of Ea_2
Consolidated Statements of Earnings (Parenthetical) | Sep. 30, 2022 |
Income Statement [Abstract] | |
Economic equivalent of Class B share to Class A share | 0.0667% |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Statement of Comprehensive Income [Abstract] | ||||
Net earnings (loss) | $ (2,588) | $ 10,644 | $ (40,379) | $ 50,909 |
Other comprehensive income: | ||||
Unrealized appreciation of investments | (527) | (89) | (974) | (164) |
Applicable income taxes | 113 | 20 | 208 | 38 |
Foreign currency translation | (1,727) | (643) | (3,794) | (616) |
Applicable income taxes | (38) | 6 | 14 | (8) |
Defined benefit pension plans | 29 | 54 | 70 | 158 |
Applicable income taxes | (7) | (13) | (16) | (42) |
Other, net | 44 | 38 | 199 | 45 |
Other comprehensive income, net | (2,113) | (627) | (4,293) | (589) |
Comprehensive income | (4,701) | 10,017 | (44,672) | 50,320 |
Comprehensive income attributable to noncontrolling interests | 46 | 288 | 518 | 762 |
Comprehensive income attributable to Berkshire Hathaway shareholders | $ (4,747) | $ 9,729 | $ (45,190) | $ 49,558 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Millions | Total | Common stock and capital in excess of par value | Accumulated other comprehensive income | Retained earnings | Treasury Stock | Noncontrolling interests |
Beginning Balance at Dec. 31, 2020 | $ 451,336 | $ 35,634 | $ (4,243) | $ 444,626 | $ (32,853) | $ 8,172 |
Net earnings (loss) | 11,840 | 11,711 | 129 | |||
Other comprehensive income, net | (320) | (327) | 7 | |||
Acquisition of common stock | (6,565) | (6,565) | ||||
Transactions with noncontrolling interests | (115) | 4 | (119) | |||
Ending Balance at Mar. 31, 2021 | 456,176 | 35,638 | (4,570) | 456,337 | (39,418) | 8,189 |
Beginning Balance at Dec. 31, 2020 | 451,336 | 35,634 | (4,243) | 444,626 | (32,853) | 8,172 |
Net earnings (loss) | 50,909 | |||||
Other comprehensive income, net | (589) | |||||
Ending Balance at Sep. 30, 2021 | 481,075 | 35,611 | (4,834) | 494,775 | (53,072) | 8,595 |
Beginning Balance at Mar. 31, 2021 | 456,176 | 35,638 | (4,570) | 456,337 | (39,418) | 8,189 |
Net earnings (loss) | 28,425 | 28,094 | 331 | |||
Other comprehensive income, net | 358 | 351 | 7 | |||
Acquisition of common stock | (6,028) | (6,028) | ||||
Transactions with noncontrolling interests | (131) | 5 | (136) | |||
Ending Balance at Jun. 30, 2021 | 478,800 | 35,643 | (4,219) | 484,431 | (45,446) | 8,391 |
Net earnings (loss) | 10,644 | 10,344 | 300 | |||
Other comprehensive income, net | (627) | (615) | (12) | |||
Acquisition of common stock | (7,626) | (7,626) | ||||
Transactions with noncontrolling interests | (116) | (32) | (84) | |||
Ending Balance at Sep. 30, 2021 | 481,075 | 35,611 | (4,834) | 494,775 | (53,072) | 8,595 |
Beginning Balance at Dec. 31, 2021 | 514,930 | 35,600 | (4,027) | 534,421 | (59,795) | 8,731 |
Net earnings (loss) | 5,585 | 5,460 | 125 | |||
Other comprehensive income, net | (404) | (401) | (3) | |||
Acquisition of common stock | (3,111) | (3,111) | ||||
Transactions with noncontrolling interests | (135) | (6) | (129) | |||
Ending Balance at Mar. 31, 2022 | 516,865 | 35,594 | (4,428) | 539,881 | (62,906) | 8,724 |
Beginning Balance at Dec. 31, 2021 | 514,930 | 35,600 | (4,027) | 534,421 | (59,795) | 8,731 |
Net earnings (loss) | (40,379) | |||||
Other comprehensive income, net | (4,293) | |||||
Ending Balance at Sep. 30, 2022 | 463,747 | 35,198 | (8,234) | 493,438 | (64,972) | 8,317 |
Beginning Balance at Mar. 31, 2022 | 516,865 | 35,594 | (4,428) | 539,881 | (62,906) | 8,724 |
Net earnings (loss) | (43,376) | (43,755) | 379 | |||
Other comprehensive income, net | (1,776) | (1,747) | (29) | |||
Acquisition of common stock | (1,028) | (1,028) | ||||
Transactions with noncontrolling interests | (1,032) | (382) | (650) | |||
Ending Balance at Jun. 30, 2022 | 469,653 | 35,212 | (6,175) | 496,126 | (63,934) | 8,424 |
Net earnings (loss) | (2,588) | (2,688) | 100 | |||
Other comprehensive income, net | (2,113) | (2,059) | (54) | |||
Acquisition of common stock | (1,191) | (1,038) | (153) | |||
Transactions with noncontrolling interests | (14) | (14) | ||||
Ending Balance at Sep. 30, 2022 | $ 463,747 | $ 35,198 | $ (8,234) | $ 493,438 | $ (64,972) | $ 8,317 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | ||
Cash flows from operating activities: | |||
Net earnings (loss) | $ (40,379) | $ 50,909 | |
Adjustments to reconcile net earnings (loss) to operating cash flows: | |||
Investment (gains) losses | 82,089 | (37,235) | |
Depreciation and amortization | 8,141 | 8,013 | |
Other | (4,935) | (717) | |
Changes in operating assets and liabilities: | |||
Unpaid losses and loss adjustment expenses | 4,551 | 4,809 | |
Deferred charges - retroactive reinsurance | 649 | 709 | |
Unearned premiums | 3,632 | 3,958 | |
Receivables and originated loans | (7,527) | (6,810) | |
Other assets | (5,599) | (1,558) | |
Other liabilities | 2,515 | 1,928 | |
Income taxes | (16,114) | 7,620 | |
Net cash flows from operating activities | 27,023 | 31,626 | |
Cash flows from investing activities: | |||
Purchases of equity securities | (66,246) | (5,004) | |
Sales of equity securities | 17,343 | 11,975 | |
Purchases of U.S. Treasury Bills and fixed maturity securities | (139,359) | (106,399) | |
Sales of U.S. Treasury Bills and fixed maturity securities | 69,998 | 15,945 | |
Redemptions and maturities of U.S. Treasury Bills and fixed maturity securities | 47,512 | 103,294 | |
Purchases of loans and finance receivables | (31) | (70) | |
Collections of loans and finance receivables | 332 | 283 | |
Acquisitions of businesses, net of cash acquired | (183) | (204) | |
Purchases of property, plant and equipment and equipment held for lease | (10,907) | (9,244) | |
Other | 32 | 1,505 | |
Net cash flows from investing activities | (81,509) | 12,081 | |
Cash flows from financing activities: | |||
Changes in short term borrowings, net | (531) | (689) | |
Acquisition of treasury stock | (5,246) | (20,192) | |
Other | (1,441) | (755) | |
Net cash flows from financing activities | (311) | (21,364) | |
Effects of foreign currency exchange rate changes | (553) | (98) | |
Increase (decrease) in cash and cash equivalents and restricted cash | (55,350) | 22,245 | |
Cash and cash equivalents and restricted cash at beginning of year* | 88,706 | 48,396 | |
Cash and cash equivalents and restricted cash at end of third quarter | 33,356 | 70,641 | |
Restricted cash, included in other assets at beginning of year | 522 | 406 | |
Restricted cash, included in other assets at end of third quarter | $ 730 | $ 652 | |
Restricted Cash and Cash Equivalents, Asset, Statement of Financial Position [Extensible List] | Other | Other | |
Insurance and Other [Member] | |||
Cash flows from financing activities: | |||
Proceeds from borrowings | $ 6,981 | $ 2,952 | |
Repayments of borrowings | (1,468) | (3,010) | |
Cash and cash equivalents at beginning of year | 85,319 | [1] | 44,714 |
Cash and cash equivalents at end of third quarter | 28,869 | [1] | 65,156 |
Railroad, Utilities and Energy [Member] | |||
Cash flows from financing activities: | |||
Proceeds from borrowings | 3,185 | 2,939 | |
Repayments of borrowings | (1,791) | (2,609) | |
Cash and cash equivalents at beginning of year | 2,865 | [1] | 3,276 |
Cash and cash equivalents at end of third quarter | $ 3,757 | [1] | $ 4,833 |
[1] Includes U.S. Treasury Bills with maturities of three months or less when purchased of $ 1.9 billion at September 30, 2022 and $ 61.7 billion at December 31, 2021. |
General
General | 9 Months Ended |
Sep. 30, 2022 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
General | Note 1. General The accompanying unaudited Consolidated Financial Statements include the accounts of Berkshire Hathaway Inc. (“Berkshire” or “Company”) consolidated with the accounts of all its subsidiaries and affiliates in which Berkshire holds controlling financial interests as of the financial statement date. In these notes, the terms “us,” “we” or “our” refer to Berkshire and its consolidated subsidiaries. Reference is made to Berkshire’s most recently issued Annual Report on Form 10-K (“Annual Report”), which includes information necessary or useful to understanding Berkshire’s businesses and financial statement presentations. Our significant accounting policies and practices were presented as Note 1 to the Consolidated Financial Statements included in the Annual Report. Financial information in this Quarterly Report reflects all adjustments (consisting only of normal recurring adjustments) that are, in the opinion of management, necessary to a fair statement of results for the interim periods in accordance with accounting principles generally accepted in the United States (“GAAP”). For a number of reasons, our results for interim periods are not normally indicative of results to be expected for the year. The timing and magnitude of catastrophe losses incurred by insurance subsidiaries and the estimation error inherent to the process of determining liabilities for unpaid losses of insurance subsidiaries can be more significant to results of interim periods than to results for a full year. Given the size of our equity security investment portfolio, changes in market prices and the related changes in unrealized gains and losses on equity securities will produce significant volatility in our interim and annual earnings. In addition, the magnitude of gains and losses from the periodic revaluation of certain assets and liabilities denominated in foreign currencies and asset impairment charges may cause significant variations in periodic net earnings. To varying degrees, the COVID-19 pandemic continues to affect our operating businesses. Significant government and private sector actions have been taken since 2020 to control the spread and mitigate the economic effects of the virus and its variants. Such actions in 2022 included temporary business closures or restrictions of business activities in various parts of the world. In addition, significant disruptions of supply chains and higher costs emerged in 2021 and have persisted in 2022. The development of geopolitical conflicts in 2022 have contributed to disruptions of supply chains, resulting in cost increases for commodities, goods and services in many parts of the world. In the U.S. and elsewhere, governments are implementing actions intended to slow price inflation. The economic effects from these events over longer terms cannot be reasonably estimated at this time. Accordingly, significant estimates used in the preparation of our financial statements, including those associated with evaluations of certain long-lived assets, goodwill and other intangible assets for impairment, expected credit losses on amounts owed to us and the estimations of certain losses assumed under insurance and reinsurance contracts, may be subject to significant adjustments in future periods. |
New accounting pronouncements
New accounting pronouncements | 9 Months Ended |
Sep. 30, 2022 | |
Accounting Changes And Error Corrections [Abstract] | |
New accounting pronouncements | Note 2. New accounting pronouncements In August 2018, the Financial Accounting Standards Board issued Accounting Standards Update 2018-12 “Targeted Improvements to the Accounting for Long-Duration Contracts” (“ASU 2018-12”). ASU 2018-12 requires reassessment of cash flow assumptions at least annually and revision of discount rate assumptions each reporting period in valuing policyholder liabilities of long-duration contracts. Under ASU 2018-12, the effects from changes in cash flow assumptions are reflected in earnings and the effects from changes in discount rate assumptions are reflected in other comprehensive income. Currently, the cash flow and discount rate assumptions are set at the contract inception date and not subsequently changed, except under limited circumstances. ASU 2018-12 is to be applied retrospectively to the earliest period presented in the financial statements, will require new disclosures and is effective for fiscal years beginning after December 15, 2022, with early adoption permitted. We will adopt ASU 2018-12 as of January 1, 2023 using the modified retrospective method, whereby revised cash flow and discount rate assumptions as of January 1, 2021 (the transition date) are applied to contracts then in-force, with liabilities then remeasured, with the cumulative effect from discount rate changes (based on changes in prevailing interest rates) recorded in accumulated other comprehensive income and the cumulative effect from cash flow assumption changes in retained earnings. While we have not finalized our assessment and continue to evaluate the impact of the adoption beginning as of the transition date, we believe that the changes in discount rate assumptions will initially have a greater effect on our recorded liabilities than changes in cash flow assumptions. We preliminarily estimate the cumulative effect of adopting ASU 2018-12 will reduce our consolidated shareholders’ equity from the amount previously reported by approximately $ 6.5 billion as of January 1, 2021, with that reduction declining to approximately $ 4.7 billion as of December 31, 2021. While we have not determined the effect of adopting ASU 2018-12 as of September 30, 2022, we currently expect the cumulative reduction to our consolidated shareholders’ equity has declined significantly since December 31, 2021, based on the interest rate increases in 2022. |
Investments in fixed maturity s
Investments in fixed maturity securities | 9 Months Ended |
Sep. 30, 2022 | |
Investments Debt And Equity Securities [Abstract] | |
Investments in fixed maturity securities | Note 3. Investments in fixed maturity securities Investments in fixed maturity securities as of September 30, 2022 and December 31, 2021 are summarized by type below (in millions). Amortized Unrealized Unrealized Fair September 30, 2022 U.S. Treasury, U.S. government corporations and agencies $ 9,039 $ 4 $ ( 268 ) $ 8,775 Foreign governments 8,701 9 ( 205 ) 8,505 Corporate bonds 830 205 ( 6 ) 1,029 Other 275 22 ( 4 ) 293 $ 18,845 $ 240 $ ( 483 ) $ 18,602 December 31, 2021 U.S. Treasury, U.S. government corporations and agencies $ 3,286 $ 22 $ ( 5 ) $ 3,303 Foreign governments 10,998 29 ( 33 ) 10,994 Corporate bonds 1,363 412 ( 1 ) 1,774 Other 317 47 ( 1 ) 363 $ 15,964 $ 510 $ ( 40 ) $ 16,434 Investments in foreign governments include securities issued by national and provincial government entities as well as instruments that are unconditionally guaranteed by such entities. As of September 30, 2022, approximately 93 % of our foreign government holdings were rated AA or higher by at least one of the major rating agencies. The amortized cost and estimated fair value of fixed maturity securities at September 30, 2022 are summarized below by contractual maturity dates. Amounts are in millions. Actual maturities may differ from contractual maturities due to prepayment rights held by issuers. Due in one Due after one year through Due after five years through Due after Mortgage- Total Amortized cost $ 7,904 $ 10,201 $ 460 $ 82 $ 198 $ 18,845 Fair value 7,753 9,895 654 85 215 18,602 |
Investments in equity securitie
Investments in equity securities | 9 Months Ended |
Sep. 30, 2022 | |
Investments Debt And Equity Securities [Abstract] | |
Investments in equity securities | Note 4. Investments in equity securities Investments in equity securities as of September 30, 2022 and December 31, 2021 are summarized as follows (in millions). Cost Basis Net Unrealized Gains Fair Value September 30, 2022* Banks, insurance and finance $ 32,148 $ 36,817 $ 68,965 Consumer products 41,106 116,615 157,721 Commercial, industrial and other 69,056 10,425 79,481 $ 142,310 $ 163,857 $ 306,167 * Approximately 73 % of the aggregate fair value was concentrated in five companies (American Express Company – $ 20.5 billion; Apple Inc. – $ 126.5 billion; Bank of America Corporation – $ 31.2 billion; The Coca-Cola Company – $ 22.4 billion and Chevron Corporation – $ 24.4 billion). Cost Basis Net Unrealized Gains Fair Value December 31, 2021* Banks, insurance and finance $ 26,822 $ 62,236 $ 89,058 Consumer products 36,076 154,945 191,021 Commercial, industrial and other 41,707 28,933 70,640 $ 104,605 $ 246,114 $ 350,719 * Approximately 73 % of the aggregate fair value was concentrated in four companies (American Express Company – $ 24.8 billion; Apple Inc. – $ 161.2 billion; Bank of America Corporation – $ 46.0 billion and The Coca-Cola Company – $ 23.7 billion). Notes to Consolidated Financial Statements (Continued) Note 4. Investments in equity securities (Continued) As of September 30, 2022, we owned 151.6 million shares of American Express Company (“American Express”) common stock representing 20.3 % of the American Express outstanding common stock. Since 1995, we have been party to an agreement with American Express whereby we agreed to vote a significant portion of our shares in accordance with the recommendations of the American Express Board of Directors and we have agreed to passivity commitments as requested by the Board of Governors of the Federal Reserve System, which collectively, in our judgment, restrict our ability to exercise significant influence over the operating and financial policies of American Express. Accordingly, we have not applied the equity method of accounting to our investment in American Express and continue to record our investment at fair value. During the first six months of 2022, we acquired approximately 17 % of the outstanding common stock of Occidental Petroleum Corporation (“Occidental”) and in the third quarter of 2022, we acquired additional shares such that our aggregate voting interest exceeded 20 % on August 4, 2022. We adopted the equity method with respect to our investment in Occidental common stock as of that date and included this investment in equity method investments at September 30, 2022. See Note 5. We continue to report our investments in Occidental Cumulative Perpetual Preferred Stock and Occidental common stock warrants at fair value as equity securities, as such interests are not in-substance common stock under GAAP and are not eligible for the equity method. Our investment in Occidental preferred stock has an aggregate liquidation value of $ 10 billion and our investment in Occidental warrants allows us to purchase up to 83.86 million shares of Occidental common stock at an exercise price of $ 59.62 per share. The preferred stock accrues dividends at 8 % per annum and is redeemable at the option of Occidental commencing in 2029 at a redemption price equal to 105 % of the liquidation preference, plus any accumulated and unpaid dividends and is mandatorily redeemable under specified events. The warrants are exercisable in whole or in part until one year after the redemption of the preferred stock. |
Equity method investments
Equity method investments | 9 Months Ended |
Sep. 30, 2022 | |
Equity Method Investments And Joint Ventures [Abstract] | |
Equity method investments | Note 5. Equity method investments Berkshire and its subsidiaries hold investments in certain businesses that are accounted for pursuant to the equity method. Currently, the most significant of these are our investments in the common stock of The Kraft Heinz Company (“Kraft Heinz”) and, as of August 4, 2022, Occidental. We own 26.5 % of Kraft Heinz common stock and we own 20.9 % of Occidental common stock, which excludes the potential effect of the exercise of Occidental common stock warrants. See Note 4. Kraft Heinz manufactures and markets food and beverage products, including condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee and other grocery products. Occidental is an international energy company, including oil and natural gas exploration, development and production, and chemicals manufacturing businesses. Occidental’s midstream businesses purchase, market, gather, process, transport and store various oil, natural gas, carbon dioxide and other products. We anticipate Occidental’s financial information will not be available in time for concurrent reporting in our consolidated financial statements. Therefore, we will report the equity method effects for Occidental on a one-quarter lag. Our earnings in the fourth quarter of 2022 will include our equity method share of Occidental's third quarter earnings. The common stock of Kraft Heinz and Occidental are publicly traded. The fair values and carrying values of these two investments in addition to the carrying values of our other significant equity method investments are summarized as follows (in millions). We evaluated our investment in Kraft Heinz for impairment as of September 30, 2022. Based on the prevailing facts and circumstances, we concluded recognition of an impairment loss in earnings was not required. Carrying Value Fair Value September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 Kraft Heinz $ 12,769 $ 13,112 $ 10,853 $ 11,683 Occidental 11,180 — 11,943 — Other 4,765 4,263 $ 28,714 $ 17,375 Notes to Consolidated Financial Statements (Continued) Note 5. Equity method investments (Continued) Our earnings and distributions received from equity method investments are summarized in the table below (in millions). Equity in Earnings Distributions Received Third Quarter First Nine Months Third Quarter First Nine Months 2022 2021 2022 2021 2022 2021 2022 2021 Kraft Heinz $ 114 $ 194 $ 391 $ 337 $ 131 $ 131 $ 391 $ 391 Occidental — — — — — — — — Other 327 183 657 438 94 55 231 1,037 $ 441 $ 377 $ 1,048 $ 775 $ 225 $ 186 $ 622 $ 1,428 As previously indicated, we will report the equity method effects for Occidental on a one-quarter lag. Our equity method share of Occidental's earnings will be reported in our earnings beginning in the fourth quarter of 2022. Distributions from other investees in the first nine months of 2021 included a special distribution of $ 849 million from Pilot Travel Centers (“Pilot”). Summarized consolidated financial information of Kraft Heinz follows (in millions). September 24, December 25, Assets $ 89,992 $ 93,394 Liabilities 41,649 43,942 Third Quarter First Nine Months 2022 2021 2022 2021 Sales $ 6,505 $ 6,324 $ 19,104 $ 19,333 Net earnings attributable to Kraft Heinz common shareholders 432 733 1,473 1,269 Summarized consolidated financial information of Occidental follows (in millions). June 30, December 31, Assets $ 74,221 $ 75,036 Liabilities 46,391 54,709 Second Quarter First Six Months 2022 2021 2022 2021 Total revenues and other income $ 10,735 $ 6,010 $ 19,268 $ 11,489 Net earnings (loss) attributable to Occidental common shareholders 3,555 ( 97 ) 8,231 ( 443 ) Other investments that we account for pursuant to the equity method include Berkadia Commercial Mortgage LLC (“Berkadia”), Pilot, Electric Transmission Texas, LLC (“ETT”) and Iroquois Gas Transmission System L.P. (“Iroquois”). Additional information concerning these investments follows. We own a 50 % interest in Berkadia, with Jefferies Financial Group Inc. (“Jefferies”) owning the other 50 % interest. Berkadia provides capital solutions, investment sales advisory and mortgage servicing for multifamily and commercial real estate. Berkadia’s commercial paper borrowing capacity (currently limited to $ 1.5 billion) is supported by a surety policy issued by a Berkshire insurance subsidiary. Jefferies is obligated to indemnify us for one-half of any losses incurred under the policy. Berkshire Hathaway Energy (“BHE”) subsidiaries own 50 % noncontrolling interests in ETT, an owner and operator of electric transmission assets in Texas, and Iroquois, an owner and operator of natural gas pipeline assets in New York and Connecticut. We own a 38.6 % interest in Pilot, headquartered in Knoxville, Tennessee. Pilot operates travel centers in North America through more than 800 retail locations across 44 U.S. states and six Canadian provinces and is a leading supplier of fuel to third parties. We have an agreement to acquire an additional 41.4 % interest in Pilot in the first quarter of 2023 for a value to be determined, based upon Pilot's adjusted earnings in 2022 and its net debt at December 31, 2022. As a result, Berkshire will become the majority owner of Pilot at that time. |
Investment and derivative contr
Investment and derivative contract gains/losses | 9 Months Ended |
Sep. 30, 2022 | |
Investments Debt And Equity Securities [Abstract] | |
Investment and derivative contract gains/losses | Note 6. Investment and derivative contract gains/losses Investment and derivative contract gains/losses in the third quarter and first nine months of 2022 and 2021 are summarized as follows (in millions). Third Quarter First Nine Months 2022 2021 2022 2021 Investment gains (losses): Equity securities: Change in unrealized investment gains (losses) during the period on $ ( 12,902 ) $ 4,759 $ ( 80,496 ) $ 36,163 Investment gains (losses) on securities sold during the period ( 165 ) 75 ( 1,085 ) 889 ( 13,067 ) 4,834 ( 81,581 ) 37,052 Fixed maturity securities: Gross realized gains 6 24 18 59 Gross realized losses ( 433 ) ( 7 ) ( 509 ) ( 20 ) Other ( 6 ) — ( 17 ) 144 Investment gains (losses) ( 13,500 ) 4,851 ( 82,089 ) 37,235 Derivative contract gains (losses) 35 70 ( 273 ) 780 $ ( 13,465 ) $ 4,921 $ ( 82,362 ) $ 38,015 Equity securities gains and losses include unrealized gains and losses from changes in fair values during the period on equity securities we still own, as well as gains and losses on securities we sold during the period. As reflected in the Consolidated Statements of Cash Flows, we received proceeds from sales of equity securities of approximately $ 17.3 billion in the first nine months of 2022 and $ 12.0 billion in the first nine months of 2021. In the preceding table, investment gains and losses on equity securities sold during the period represent the difference between the sales proceeds and the fair value of the equity securities sold at the beginning of the applicable period or, if later, the purchase date. Taxable gains/losses on equity securities sold are generally the difference between the proceeds from sales and original cost. Equity securities sold produced taxable gains of $ 3 million in the third quarter and taxable losses of $ 660 million in the first nine months of 2022 compared to taxable gains of $ 941 million in the third quarter and $ 2.9 billion in the first nine months of 2021. Our derivative contract gains and losses derive from equity index put option contracts. As of September 30, 2022, we had four open contracts, which had an aggregate fair value liability of less than $ 1 million and an aggregate notional value of $ 1.6 billion. |
Loans and finance receivables
Loans and finance receivables | 9 Months Ended |
Sep. 30, 2022 | |
Receivables [Abstract] | |
Loans and finance receivables | Note 7. Loans and finance receivables Loans and finance receivables are summarized as follows (in millions). September 30, December 31, Loans and finance receivables before allowances and discounts $ 23,442 $ 22,065 Allowances for credit losses ( 785 ) ( 765 ) Unamortized acquisition discounts and points ( 563 ) ( 549 ) $ 22,094 $ 20,751 Loans and finance receivables are principally manufactured home loans, and to a lesser extent, site-built home loans and commercial loans. Reconciliations of the allowance for credit losses on loans and finance receivables for the first nine months of 2022 and 2021 follow (in millions). First Nine Months 2022 2021 Balance at beginning of year $ 765 $ 712 Provision for credit losses 45 65 Charge-offs, net of recoveries ( 25 ) ( 33 ) Balance at September 30 $ 785 $ 744 As of September 30, 2022, substantially all manufactured and site-built home loans were evaluated collectively for impairment. As of September 30, 2022, we considered approximately 97 % of these loans to be current as to payment status. A summary of performing and non-performing home loans before discounts and allowances by year of loan origination as of September 30, 2022 follows (in millions). Origination Year 2022 2021 2020 2019 2018 Prior Total Performing $ 4,268 $ 3,696 $ 2,883 $ 2,037 $ 1,544 $ 7,205 $ 21,633 Non-performing 4 7 9 8 7 42 77 $ 4,272 $ 3,703 $ 2,892 $ 2,045 $ 1,551 $ 7,247 $ 21,710 We are also party to two commercial loan agreements with an aggregate carrying value of $ 1.7 billion at September 30, 2022 and $ 1.9 billion at December 31, 2021. The larger of these loans is with Seritage Growth Properties (“Seritage”), which had a carrying value of $ 1.27 billion as of September 30, 2022 and $ 1.44 billion as of December 31, 2021. The Seritage loan is pursuant to a $ 2.0 billion term loan facility and the outstanding loan is secured by mortgages on its real estate properties. The Seritage loan agreement allows optional loan prepayments without penalty and further provides the option to extend the maturity of the loan to July 31, 2025 , if the outstanding principal has been reduced to $ 800 million by the original expiration date of July 31, 2023 . Each of these loans is current as to payment status. |
Other receivables
Other receivables | 9 Months Ended |
Sep. 30, 2022 | |
Receivables [Abstract] | |
Other receivables | Note 8. Other receivables Other receivables are comprised of the following (in millions). September 30, December 31, Insurance and other: Insurance premiums receivable $ 17,815 $ 15,050 Reinsurance recoverables 4,793 4,900 Trade receivables 14,448 12,971 Other 4,051 3,146 Allowances for credit losses ( 724 ) ( 679 ) $ 40,383 $ 35,388 Railroad, utilities and energy: Trade receivables $ 4,362 $ 3,678 Other 765 650 Allowances for credit losses ( 142 ) ( 151 ) $ 4,985 $ 4,177 Notes to Consolidated Financial Statements (Continued) Note 8. Other receivables (Continued) Provisions for credit losses in the first nine months with respect to receivables summarized above were $ 328 million in 2022 and $ 335 million in 2021. Charge-offs, net of recoveries, in the first nine months were $ 284 million in 2022 and $ 279 million in 2021. |
Inventories
Inventories | 9 Months Ended |
Sep. 30, 2022 | |
Inventory Disclosure [Abstract] | |
Inventories | Note 9. Inventories Inventories are comprised of the following (in millions). September 30, December 31, Raw materials $ 6,473 $ 5,743 Work in process and other 3,750 3,192 Finished manufactured goods 5,776 4,530 Goods acquired for resale 9,103 7,489 $ 25,102 $ 20,954 |
Property, plant and equipment i
Property, plant and equipment including equipment held for lease | 9 Months Ended |
Sep. 30, 2022 | |
Property, plant and equipment including equipment held for lease | Note 10. Property, plant and equipment A summary of property, plant and equipment of our insurance and other businesses follows (in millions). September 30, December 31, Land, buildings and improvements $ 14,089 $ 14,070 Machinery and equipment 26,072 26,063 Furniture, fixtures and other 4,968 4,640 45,129 44,773 Accumulated depreciation ( 24,751 ) ( 23,939 ) $ 20,378 $ 20,834 A summary of property, plant and equipment of railroad and utilities and energy businesses follows (in millions). The utility generation, transmission and distribution systems and interstate natural gas pipeline assets are owned by regulated public utility and natural gas pipeline subsidiaries. September 30, December 31, Railroad: Land, track structure and other roadway $ 66,744 $ 65,843 Locomotives, freight cars and other equipment 15,989 13,822 Construction in progress 1,366 1,027 84,099 80,692 Accumulated depreciation ( 17,530 ) ( 14,978 ) 66,569 65,714 Utilities and energy: Utility generation, transmission and distribution systems 90,756 90,223 Interstate natural gas pipeline assets 17,882 17,423 Independent power plants and other assets 14,352 13,695 Construction in progress 5,198 4,196 128,188 125,537 Accumulated depreciation ( 37,285 ) ( 35,721 ) 90,903 89,816 $ 157,472 $ 155,530 Depreciation expense for the first nine months of 2022 and 2021 is summarized below (in millions). First Nine Months 2022 2021 Insurance and other $ 1,690 $ 1,725 Railroad, utilities and energy 4,646 4,485 $ 6,336 $ 6,210 |
Equipment held for lease [Member] | |
Property, plant and equipment including equipment held for lease | Notes to Consolidated Financial Statements (Continued) Note 11. Equipment held for lease Equipment held for lease includes railcars, aircraft, over-the-road trailers, intermodal tank containers, cranes, storage units and furniture. Equipment held for lease is summarized below (in millions). September 30, December 31, Railcars $ 9,556 $ 9,448 Aircraft 10,089 9,234 Other 5,120 5,053 24,765 23,735 Accumulated depreciation ( 9,626 ) ( 8,817 ) $ 15,139 $ 14,918 Depreciation expense for equipment held for lease in the first nine months was $ 900 million in 2022 and $ 861 million in 2021. Fixed and variable operating lease revenues for the third quarter and first nine months of 2022 and 2021 are summarized below (in millions). Third Quarter First Nine Months 2022 2021 2022 2021 Fixed lease revenue $ 1,344 $ 1,151 $ 3,796 $ 3,318 Variable lease revenue 615 414 1,722 1,018 $ 1,959 $ 1,565 $ 5,518 $ 4,336 |
Goodwill and other intangible a
Goodwill and other intangible assets | 9 Months Ended |
Sep. 30, 2022 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Goodwill and other intangible assets | Note 12. Goodwill and other intangible assets Reconciliations of the changes in the carrying value of goodwill for the first nine months of 2022 and for the year ended December 31, 2021 follow (in millions). September 30, December 31, Balance at beginning of year $ 73,875 $ 73,734 Business acquisitions 78 353 Other, including foreign currency translation ( 618 ) ( 212 ) Balance at end of period* $ 73,335 $ 73,875 * Net of accumulated goodwill impairments of $ 11.0 billion as of September 30, 2022 and December 31, 2021. The gross carrying amounts and accumulated amortization of other intangible assets are summarized below (in millions). September 30, 2022 December 31, 2021 Gross Accumulated Net Gross Accumulated Net Insurance and other: Customer relationships $ 27,337 $ 6,957 $ 20,380 $ 27,335 $ 6,450 $ 20,885 Trademarks and trade names 5,158 816 4,342 5,176 802 4,374 Patents and technology 4,957 3,741 1,216 4,763 3,484 1,279 Other 3,280 1,480 1,800 3,390 1,442 1,948 $ 40,732 $ 12,994 $ 27,738 $ 40,664 $ 12,178 $ 28,486 Railroad, utilities and energy: Customer relationships $ 678 $ 421 $ 257 $ 678 $ 396 $ 282 Trademarks, trade names and other 1,015 182 833 1,015 146 869 $ 1,693 $ 603 $ 1,090 $ 1,693 $ 542 $ 1,151 Notes to Consolidated Financial Statements (Continued) Note 12. Goodwill and other intangible assets (Continued) Intangible asset amortization expense in the first nine months was $ 905 million in 2022 and $ 942 million in 2021. Intangible assets with indefinite lives were $ 18.4 billion as of September 30, 2022 and $ 18.5 billion as of December 31, 2021 and primarily related to certain customer relationships and trademarks and trade names. |
Unpaid losses and loss adjustme
Unpaid losses and loss adjustment expenses | 9 Months Ended |
Sep. 30, 2022 | |
Insurance [Abstract] | |
Unpaid losses and loss adjustment expenses | Note 13. Unpaid losses and loss adjustment expenses Our liabilities for unpaid losses and loss adjustment expenses (also referred to as “claim liabilities”) under property and casualty insurance and reinsurance contracts are based upon estimates of the ultimate claim costs associated with claim occurrences as of the balance sheet date and include estimates for incurred-but-not-reported (“IBNR”) claims. A reconciliation of the changes in claim liabilities, excluding liabilities under retroactive reinsurance contracts (see Note 14), for each of the nine-month periods ending September 30, 2022 and 2021 follows (in millions). 2022 2021 Balances at beginning of year: Gross liabilities $ 86,664 $ 79,854 Reinsurance recoverable on unpaid losses ( 2,960 ) ( 2,912 ) Net liabilities 83,704 76,942 Incurred losses and loss adjustment expenses: Current accident year 44,472 38,447 Prior accident years ( 2,141 ) ( 2,151 ) Total 42,331 36,296 Paid losses and loss adjustment expenses: Current accident year ( 17,543 ) ( 15,277 ) Prior accident years ( 18,564 ) ( 15,076 ) Total ( 36,107 ) ( 30,353 ) Foreign currency effect ( 1,044 ) ( 119 ) Balances at September 30: Net liabilities 88,884 82,766 Reinsurance recoverable on unpaid losses 2,758 2,988 Gross liabilities $ 91,642 $ 85,754 Incurred losses and loss adjustment expenses shown in the preceding table were recorded in earnings and related to insured events occurring in the current year (“current accident year”) and events occurring in all prior years (“prior accident years”). Incurred and paid losses and loss adjustment expenses are net of reinsurance recoveries. Current accident year incurred losses in the first nine months of 2022 and 2021 included approximately $ 4.0 billion and $ 2.7 billion, respectively, from significant catastrophe events (losses in excess of $ 100 million per event). Significant catastrophe events in the first nine months included Hurricane Ian ($ 3.4 billion) and floods in Australia and South Africa in 2022 and Winter Storm Uri, Hurricane Ida ($ 1.5 billion) and floods in Europe in 2021. In the first nine months, we recorded net reductions of estimated ultimate liabilities for prior accident years of $ 2.1 billion in 2022 and $ 2.2 billion in 2021, which produced corresponding reductions in incurred losses and loss adjustment expenses in those periods. These reductions, as percentages of the net liabilities at the beginning of each year, were 2.6 % in 2022 and 2.8 % in 2021. Estimated ultimate liabilities for prior accident years from primary insurance in the first nine months were reduced by $ 734 million in 2022 and $ 1.6 billion in 2021. The reductions in each period derived primarily from private passenger automobile, medical professional liability and workers’ compensation claims. Estimated ultimate liabilities for prior years attributable to property and casualty reinsurance in the first nine months decreased $ 1.4 billion in 2022 and $ 564 million in 2021. |
Retroactive reinsurance contrac
Retroactive reinsurance contracts | 9 Months Ended |
Sep. 30, 2022 | |
Insurance [Abstract] | |
Retroactive reinsurance contracts | Note 14. Retroactive reinsurance contracts Retroactive reinsurance policies provide indemnification of losses and loss adjustment expenses of short-duration insurance contracts with respect to underlying loss events that occurred prior to the contract inception date. Claims payments may commence immediately after the contract date or, when applicable, after a contractual retention amount has been reached. Reconciliations of the changes in estimated liabilities for retroactive reinsurance unpaid losses and loss adjustment expenses (“claim liabilities”) and related deferred charges for each of the nine-month periods ending September 30, 2022 and 2021 follow (in millions). 2022 2021 Unpaid losses Deferred Unpaid losses Deferred Balances at beginning of year $ 38,256 $ ( 10,639 ) $ 40,966 $ ( 12,441 ) Incurred losses and loss adjustment expenses: Current year contracts — — 82 — Prior years’ contracts ( 23 ) 649 ( 9 ) 709 Total ( 23 ) 649 73 709 Paid losses and loss adjustment expenses ( 1,567 ) — ( 1,318 ) — Balances at September 30 $ 36,666 $ ( 9,990 ) $ 39,721 $ ( 11,732 ) Incurred losses and loss adjustment expenses, net of deferred charges $ 626 $ 782 In the preceding table, classifications of incurred losses and loss adjustment expenses are based on the inception dates of the contracts, which reflect when our exposure to losses began. Incurred losses and loss adjustment expenses in the first nine months for prior years’ contracts were $ 626 million in 2022 and $ 700 million in 2021 and included recurring amortization of deferred charges and the effect of changes in the timing and amount of expected future loss payments. Currently, our largest retroactive reinsurance contract is between our subsidiary, National Indemnity Company, and certain subsidiaries of American International Group, Inc. (collectively, “AIG”). Our estimated claim liabilities with regard to the AIG contract were approximately $ 14.8 billion at September 30, 2022 and $ 15.8 billion at December 31, 2021. Deferred charges related to the AIG contract were $ 4.14 billion at September 30, 2022 and $ 4.45 billion at December 31, 2021. |
Notes payable and other borrowi
Notes payable and other borrowings | 9 Months Ended |
Sep. 30, 2022 | |
Debt Disclosure [Abstract] | |
Notes payable and other borrowings | Note 15. Notes payable and other borrowings Notes payable and other borrowings are summarized below (in millions). The weighted average interest rates and maturity date ranges shown in the following tables are based on borrowings as of September 30, 2022. Weighted September 30, December 31, Insurance and other: Berkshire Hathaway Inc. (“Berkshire”): U.S. Dollar denominated due 2023 - 2047 3.3 % $ 6,227 $ 6,820 Euro denominated due 2023 - 2041 1.0 % 6,722 7,792 Japanese Yen denominated due 2023 - 2060 0.6 % 6,289 6,797 Berkshire Hathaway Finance Corporation (“BHFC”): U.S. Dollar denominated due 2027 - 2052 3.6 % 14,456 10,758 Great Britain Pound denominated due 2039 - 2059 2.5 % 1,920 2,325 Euro denominated due 2030 - 2034 1.8 % 1,219 — Other subsidiary borrowings due 2022 - 2045 4.1 % 4,328 4,438 Subsidiary short-term borrowings 4.7 % 374 342 $ 41,535 $ 39,272 Notes to Consolidated Financial Statements (Continued) Note 15. Notes payable and other borrowings (Continued) In January 2022, Berkshire repaid $ 600 million of maturing senior notes and issued ¥ 128.5 billion (approximately $ 1.1 billion) of senior notes with maturity dates ranging from 2027 to 2052 and a weighted average interest rate of 0.5 %. Borrowings of BHFC, a wholly owned finance subsidiary of Berkshire, consist of senior unsecured notes used to fund manufactured housing loans originated or acquired and equipment held for lease of certain subsidiaries. BHFC borrowings are fully and unconditionally guaranteed by Berkshire. In March 2022, BHFC issued $ 4.5 billion of senior notes with maturity dates ranging from 2027 to 2052 with a weighted average interest rate of 3.4 % and € 1.25 billion (approximately $ 1.4 billion) of senior notes maturing in 2030 and 2034 with a weighted average interest rate of 1.8 %. In May 2022, BHFC repaid $ 775 million of maturing senior notes. The carrying values of Berkshire and BHFC non-U.S. Dollar denominated senior notes (€ 8.15 billion, £ 1.75 billion and ¥ 914 billion par at September 30, 2022) reflect the applicable exchange rates as of each balance sheet date. The effects of changes in foreign currency exchange rates during the period are recorded in earnings as a component of selling, general and administrative expenses. Changes in the exchange rates resulted in pre-tax gains of $ 1.2 billion in the third quarter and $ 3.3 billion in the first nine months of 2022 as compared to $ 264 million in the third quarter and $ 939 million in the first nine months of 2021. Berkshire also guarantees debt of other subsidiaries, aggregating approximately $ 3.7 billion at September 30, 2022. Generally, Berkshire’s guarantee of a subsidiary’s debt obligation is an absolute, unconditional and irrevocable guarantee for the full and prompt payment when due of all payment obligations. Weighted September 30, December 31, Railroad, utilities and energy: Berkshire Hathaway Energy Company (“BHE”) and subsidiaries: BHE senior unsecured debt due 2023 - 2053 4.3 % $ 13,992 $ 13,003 Subsidiary and other debt due 2022 - 2064 4.2 % 36,226 36,759 Short-term borrowings 4.2 % 1,441 2,009 Burlington Northern Santa Fe ("BNSF") and subsidiaries due 2022 - 2097 4.5 % 23,302 23,219 $ 74,961 $ 74,990 BHE subsidiary debt represents amounts issued pursuant to separate financing agreements. Substantially all of the assets of certain BHE subsidiaries are, or may be, pledged or encumbered to support or otherwise secure such debt. These borrowing arrangements generally contain various covenants, which pertain to leverage ratios, interest coverage ratios and/or debt service coverage ratios. In April 2022, BHE issued $ 1.0 billion of 4.6 % senior notes due in 2053 . During the first nine months of 2022, BHE subsidiaries issued approximately $ 1.3 billion of variable and fixed rate term debt with a weighted average interest rate of 3.9 % as of September 30 and maturity dates ranging from 2024 to 2052 . BNSF’s borrowings are primarily senior unsecured debentures. In June 2022, BNSF issued $ 1.0 billion of 4.45 % debentures due in 2053 . During the first nine months of 2022, BNSF repaid $ 900 million of term debt. As of September 30, 2022, BNSF, BHE and their subsidiaries were in compliance with all applicable debt covenants. Berkshire does not guarantee any debt, borrowings or lines of credit of BNSF, BHE or their subsidiaries. Our subsidiaries have unused lines of credit and commercial paper capacity to support short-term borrowing programs and provide additional liquidity. Unused lines of credit were approximately $ 10.7 billion at September 30, 2022, which included approximately $ 9.2 billion related to BHE and its subsidiaries. |
Fair value measurements
Fair value measurements | 9 Months Ended |
Sep. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
Fair value measurements | Notes to Consolidated Financial Statements (Continued) Note 16. Fair value measurements Our financial assets and liabilities are summarized below as of September 30, 2022 and December 31, 2021, with fair values shown according to the fair value hierarchy (in millions). The carrying values of cash and cash equivalents, U.S. Treasury Bills, other receivables and accounts payable, accruals and other liabilities are considered to be reasonable estimates of their fair values. Carrying Fair Value Quoted Significant Significant September 30, 2022 Investments in fixed maturity securities: U.S. Treasury, U.S. government corporations $ 8,775 $ 8,775 $ 8,740 $ 35 $ — Foreign governments 8,505 8,505 8,207 298 — Corporate bonds 1,029 1,029 — 1,029 — Other 293 293 — 293 — Investments in equity securities 306,167 306,167 294,094 7 12,066 Investment in Kraft Heinz & Occidental common stock 23,949 22,796 22,796 — — Loans and finance receivables 22,094 22,659 — 1,744 20,915 Derivative contract asset s (1) 731 731 68 593 70 Derivative contract liabiliti es (1) 261 261 2 133 126 Notes payable and other borrowings: Insurance and other 41,535 36,362 — 36,314 48 Railroad, utilities and energy 74,961 66,991 — 66,991 — December 31, 2021 Investments in fixed maturity securities: U.S. Treasury, U.S. government corporations $ 3,303 $ 3,303 $ 3,261 $ 42 $ — Foreign governments 10,994 10,994 10,286 708 — Corporate bonds 1,774 1,774 — 1,774 — Other 363 363 — 363 — Investments in equity securities 350,719 350,719 339,225 8 11,486 Investment in Kraft Heinz common stock 13,112 11,683 11,683 — — Loans and finance receivables 20,751 22,174 — 2,178 19,996 Derivative contract assets (1) 329 329 6 230 93 Derivative contract liabilities (1) 376 376 2 150 224 Notes payable and other borrowings: Insurance and other 39,272 42,339 — 42,292 47 Railroad, utilities and energy 74,990 87,065 — 87,065 — (1) Assets are included in other assets and liabilities are included in accounts payable, accruals and other liabilities. Notes to Consolidated Financial Statements (Continued) Note 16. Fair value measurements (Continued) The fair values of substantially all of our financial instruments were measured using market or income approaches. The hierarchy for measuring fair value consists of Levels 1 through 3, which are described below. Level 1 – Inputs represent unadjusted quoted prices for identical assets or liabilities exchanged in active markets. Level 2 – Inputs include directly or indirectly observable inputs (other than Level 1 inputs) such as quoted prices for similar assets or liabilities exchanged in active or inactive markets; quoted prices for identical assets or liabilities exchanged in inactive markets; other inputs that may be considered in fair value determinations of the assets or liabilities, such as interest rates and yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates; and inputs that are derived principally from or corroborated by observable market data by correlation or other means. Pricing evaluations generally reflect discounted expected future cash flows, which incorporate yield curves for instruments with similar characteristics, such as credit ratings, estimated durations and yields for other instruments of the issuer or entities in the same industry sector. Level 3 – Inputs include unobservable inputs used in the measurement of assets and liabilities. Management is required to use its own assumptions regarding unobservable inputs because there is little, if any, market activity in the assets or liabilities and it may be unable to corroborate the related observable inputs. Unobservable inputs require management to make certain projections and assumptions about the information that would be used by market participants in valuing assets or liabilities. Reconciliations of significant assets and liabilities measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) for the nine months ended September 30, 2022 and 2021 follow (in millions). Balance at Gains included in earnings Acquisitions, Transfers out of Level 3 Balance at September 30 Investments in equity securities: 2022 $ 11,480 $ 581 $ — $ — $ 12,061 2021 8,978 1,713 1,100 — 11,791 Equity index put option contract liabilities: 2021 ( 1,065 ) 780 ( 1 ) — ( 286 ) Quantitative information as of September 30, 2022 with respect to significant assets and liabilities measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) follows (dollars in millions). Fair Principal Valuation Unobservable Weighted Investments in equity securities: Preferred stock $ 9,956 Discounted cash flow Expected duration 7 years Discount for transferability 372 bps Common stock warrants 2,105 Warrant pricing model Expected duration 7 years Volatility 39 % Investments in equity securities in the preceding table include our investments in certain preferred stocks and common stock warrants that do not have readily determinable market values as defined under GAAP. These investments are subject to contractual restrictions on transferability and may contain provisions that prevent us from economically hedging our investments. We applied discounted cash flow techniques in valuing the preferred stock and we made assumptions regarding the expected duration of the investment and the effects of subordination in liquidation. In valuing the common stock warrants, we used a warrant valuation model. While most of the inputs to the model are observable, we made assumptions regarding the expected duration and volatility of the warrants. |
Common stock
Common stock | 9 Months Ended |
Sep. 30, 2022 | |
Equity [Abstract] | |
Common stock | Notes to Consolidated Financial Statements (Continued) Note 17. Common stock Changes in Berkshire’s issued, treasury and outstanding common stock during the first nine months of 2022 are shown in the table below. In addition to our common stock, 1,000,000 shares of preferred stock are authorized, but none are issued. Class A, $ 5 Par Value 1,650,000 shares authorized) Class B, $ 0.0033 Par Value 3,225,000,000 shares authorized) Issued Treasury Outstanding Issued Treasury Outstanding Balances at December 31, 2021 665,901 ( 48,788 ) 617,113 1,488,292,852 ( 197,818,349 ) 1,290,474,503 Conversions of Class A to ( 12,093 ) — ( 12,093 ) 18,139,500 — 18,139,500 Treasury stock acquired — ( 6,818 ) ( 6,818 ) — ( 6,850,133 ) ( 6,850,133 ) Balances at September 30, 2022 653,808 ( 55,606 ) 598,202 1,506,432,352 ( 204,668,482 ) 1,301,763,870 Each Class A common share is entitled to one vote per share. Class B common stock possesses dividend and distribution rights equal to one-fifteen-hundredth (1/1,500) of such rights of Class A common stock. Each Class B common share possesses voting rights equal to one-ten-thousandth (1/10,000) of the voting rights of a Class A share. Unless otherwise required under Delaware General Corporation Law, Class A and Class B common shares vote as a single class. Each share of Class A common stock is convertible, at the option of the holder, into 1,500 shares of Class B common stock. Class B common stock is not convertible into Class A common stock. On an equivalent Class A common stock basis, there were 1,466,045 shares outstanding as of September 30, 2022 and 1,477,429 shares outstanding as of December 31, 2021. Since we have two classes of common stock, we provide earnings per share data on the Consolidated Statements of Earnings for average equivalent Class A shares outstanding and average equivalent Class B shares outstanding. Class B shares are economically equivalent to one-fifteen-hundredth ( 1/1,500 ) of a Class A share. Average equivalent Class A shares outstanding represents average Class A shares outstanding plus one-fifteen-hundredth ( 1/1,500 ) of the average Class B shares outstanding. Average equivalent Class B shares outstanding represents average Class B shares outstanding plus 1,500 times the average Class A shares outstanding. Berkshire’s common stock repurchase program permits Berkshire to repurchase its Class A and Class B shares any time that Warren Buffett, Berkshire’s Chairman of the Board and Chief Executive Officer, and Charlie Munger, Vice Chairman of the Board, believe that the repurchase price is below Berkshire’s intrinsic value, conservatively determined. The program continues to allow share repurchases in the open market or through privately negotiated transactions and does not specify a maximum number of shares to be repurchased. However, repurchases will not be made if they would reduce the total value of Berkshire’s consolidated cash, cash equivalents and U.S. Treasury Bills holdings below $ 30 billion. The repurchase program does not obligate Berkshire to repurchase any specific dollar amount or number of Class A or Class B shares and there is no expiration date to the program. |
Income taxes
Income taxes | 9 Months Ended |
Sep. 30, 2022 | |
Income Tax Disclosure [Abstract] | |
Income taxes | Note 18. Income taxes Our consolidated effective income tax rates were 37.1 % in the third quarter and 23.5 % in the first nine months of 2022 compared to 14.7 % in the third quarter and 18.8 % in the first nine months of 2021. Our effective income tax rate normally reflects recurring benefits from dividends-received deductions applicable to investments in certain equity securities and production tax credits related to wind-powered electricity generation placed in service in the U.S. Our periodic effective income tax rate will also vary due to the changes in mix of pre-tax earnings, including investment gains or losses with respect to our investments in equity securities, the amount of non-deductible goodwill impairment charges and other expenses and the underlying income tax rates applicable in the various taxing jurisdictions. |
Accumulated other comprehensive
Accumulated other comprehensive income | 9 Months Ended |
Sep. 30, 2022 | |
Equity [Abstract] | |
Accumulated other comprehensive income | Notes to Consolidated Financial Statements (Continued) Note 19. Accumulated other comprehensive income A summary of the net changes in after-tax accumulated other comprehensive income attributable to Berkshire Hathaway shareholders for the nine months ending September 30, 2022 and 2021 follows (in millions). Unrealized Foreign Defined benefit Other Accumulated First nine months of 2022 Balance at beginning of year $ 369 $ ( 4,092 ) $ ( 347 ) $ 43 $ ( 4,027 ) Other comprehensive income, net ( 767 ) ( 3,676 ) 47 189 ( 4,207 ) Balance at end of period $ ( 398 ) $ ( 7,768 ) $ ( 300 ) $ 232 $ ( 8,234 ) First nine months of 2021 Balance at beginning of year $ 536 $ ( 3,082 ) $ ( 1,645 ) $ ( 52 ) $ ( 4,243 ) Other comprehensive income, net ( 126 ) ( 619 ) 112 42 ( 591 ) Balance at end of period $ 410 $ ( 3,701 ) $ ( 1,533 ) $ ( 10 ) $ ( 4,834 ) |
Supplemental cash flow informat
Supplemental cash flow information | 9 Months Ended |
Sep. 30, 2022 | |
Supplemental Cash Flow Elements [Abstract] | |
Supplemental cash flow information | Note 20. Supplemental cash flow information A summary of supplemental cash flow information is presented in the following table (in millions). First Nine Months 2022 2021 Cash paid during the period for: Income taxes $ 3,474 $ 4,002 Interest: Insurance and other 917 1,040 Railroad, utilities and energy 2,323 2,335 |
Contingencies and Commitments
Contingencies and Commitments | 9 Months Ended |
Sep. 30, 2022 | |
Commitments And Contingencies Disclosure [Abstract] | |
Contingencies and Commitments | Note 21. Contingencies and commitments We are parties in a variety of legal actions that routinely arise out of the normal course of business, including legal actions seeking to establish liability directly through insurance contracts or indirectly through reinsurance contracts issued by Berkshire subsidiaries. Plaintiffs occasionally seek punitive or exemplary damages. We do not believe that such normal and routine litigation will have a material effect on our financial condition or results of operations. Berkshire and certain of its subsidiaries are also involved in other kinds of legal actions, some of which assert or may assert claims or seek to impose fines and penalties. We believe that any liability that may arise as a result of other pending legal actions will not have a material effect on our consolidated financial condition or results of operations. On March 20, 2022 , Berkshire entered into a definitive agreement and plan of merger with Alleghany Corporation (“Alleghany”) to acquire all of Alleghany’s outstanding common stock for cash consideration of approximately $ 11.6 billion. Following the receipt of Alleghany shareholder approval on June 9, 2022 and all required regulatory approvals, the acquisition was completed on October 19, 2022 . The consideration paid was funded by existing cash balances. Alleghany operates a group of property and casualty reinsurance and insurance businesses. It also owns a portfolio of non-financial businesses. Given the proximity of the Alleghany acquisition date to the date these interim Consolidated Financial Statements were issued, it was impracticable to provide an initial estimate of the fair values of identifiable assets acquired, liabilities assumed and residual goodwill or proforma information. We expect to provide disclosures of preliminary values of identifiable assets acquired and liabilities assumed as of the acquisition date as well as proforma information, if material, in our Consolidated Financial Statements for the year ending December 31, 2022. Alleghany’s most recently available historical consolidated financial statements are as of September 30, 2022. As of that date, Alleghany’s total assets and liabilities were $ 31.2 billion and $ 23.4 billion, respectively. In June 2022, BHE acquired the BHE common stock held by Greg Abel, Berkshire’s Vice Chairman - non-insurance operations, for $ 870 million. The purchase was pursuant to the terms of a shareholders agreement between Berkshire, BHE and BHE’s non-controlling shareholders. Berkshire recorded a charge of $ 362 million to capital in excess of par value for the excess of the consideration paid over the carrying value of the acquired noncontrolling interest. |
Revenues from contracts with cu
Revenues from contracts with customers | 9 Months Ended |
Sep. 30, 2022 | |
Revenue From Contract With Customer [Abstract] | |
Revenues from contracts with customers | Note 22. Revenues from contracts with customers We recognize revenue when a good or service is transferred to a customer. A good or service is transferred when or as the customer obtains control of that good or service. Revenues are based on the consideration we expect to receive in connection with our promises to deliver goods and services to our customers. The following tables summarize customer contract revenues disaggregated by reportable segment and the source of the revenue for the third quarter and first nine months of 2022 and 2021 (in millions). Other revenues, which are not considered to be revenues from contracts with customers under GAAP, are primarily insurance premiums earned, interest, dividend and other investment income and leasing revenues. Manufacturing McLane Service BNSF Berkshire Insurance, Total Three months ending September 30, 2022 Manufactured products: Industrial and commercial products $ 6,145 $ — $ 51 $ — $ — $ — $ 6,196 Building products 5,928 — — — — — 5,928 Consumer products 4,753 — — — — — 4,753 Grocery and convenience store distribution — 8,315 — — — — 8,315 Food and beverage distribution — 4,946 — — — — 4,946 Auto sales — — 2,686 — — — 2,686 Other retail and wholesale distribution 803 — 4,189 — — — 4,992 Service 328 277 1,006 6,646 1,328 — 9,585 Electricity and natural gas — — — — 5,905 — 5,905 Total 17,957 13,538 7,932 6,646 7,233 — 53,306 Other revenues 1,012 32 1,609 17 294 20,664 23,628 $ 18,969 $ 13,570 $ 9,541 $ 6,663 $ 7,527 $ 20,664 $ 76,934 Nine months ending September 30, 2022 Manufactured products: Industrial and commercial products $ 18,219 $ — $ 148 $ — $ — $ — $ 18,367 Building products 17,317 — — — — — 17,317 Consumer products 15,355 — — — — — 15,355 Grocery and convenience store distribution — 24,000 — — — — 24,000 Food and beverage distribution — 14,510 — — — — 14,510 Auto sales — — 7,888 — — — 7,888 Other retail and wholesale distribution 2,343 — 12,629 — — — 14,972 Service 894 739 3,090 19,173 4,001 — 27,897 Electricity and natural gas — — — — 15,359 — 15,359 Total 54,128 39,249 23,755 19,173 19,360 — 155,665 Other revenues 2,962 97 4,470 46 658 60,026 68,259 $ 57,090 $ 39,346 $ 28,225 $ 19,219 $ 20,018 $ 60,026 $ 223,924 Notes to Consolidated Financial Statements (Continued) Note 22. Revenues from contracts with customers (Continued) Manufacturing McLane Service BNSF Berkshire Insurance, Total Three months ending September 30, 2021 Manufactured products: Industrial and commercial products $ 5,600 $ — $ 43 $ — $ — $ — $ 5,643 Building products 5,005 — — — — — 5,005 Consumer products 4,758 — — — — — 4,758 Grocery and convenience store distribution — 7,933 — — — — 7,933 Food and beverage distribution — 4,478 — — — — 4,478 Auto sales — — 2,423 — — — 2,423 Other retail and wholesale distribution 742 — 3,913 — — — 4,655 Service 400 175 1,073 5,747 1,586 — 8,981 Electricity and natural gas — — — — 5,138 — 5,138 Total 16,505 12,586 7,452 5,747 6,724 — 49,014 Other revenues 951 26 1,202 14 289 19,087 21,569 $ 17,456 $ 12,612 $ 8,654 $ 5,761 $ 7,013 $ 19,087 $ 70,583 Nine months ending September 30, 2021 Manufactured products: Industrial and commercial products $ 16,549 $ — $ 142 $ — $ — $ — $ 16,691 Building products 14,518 — — — — — 14,518 Consumer products 13,525 — — — — — 13,525 Grocery and convenience store distribution — 23,104 — — — — 23,104 Food and beverage distribution — 12,838 — — — — 12,838 Auto sales — — 7,485 — — — 7,485 Other retail and wholesale distribution 2,199 — 11,577 — — — 13,776 Service 1,099 509 3,060 16,875 4,219 — 25,762 Electricity and natural gas — — — — 14,048 — 14,048 Total 47,890 36,451 22,264 16,875 18,267 — 141,747 Other revenues 2,821 78 3,287 42 755 55,566 62,549 $ 50,711 $ 36,529 $ 25,551 $ 16,917 $ 19,022 $ 55,566 $ 204,296 A summary of the transaction price allocated to the significant unsatisfied remaining performance obligations relating to contracts with expected durations in excess of one year as of September 30, 2022 and the timing of when the performance obligations are expected to be satisfied follows (in millions). Less than Greater than Total Electricity and natural gas $ 3,619 $ 21,586 $ 25,205 Other sales and service contracts 1,588 3,039 4,627 |
Business segment data
Business segment data | 9 Months Ended |
Sep. 30, 2022 | |
Segment Reporting [Abstract] | |
Business segment data | Note 23. Business segment data Our operating businesses include a large and diverse group of insurance, manufacturing, service and retailing businesses. We organize our reportable business segments in a manner that reflects how management views those business activities. Certain businesses are grouped together for segment reporting based upon similar products or product lines and marketing, selling and distribution characteristics, even though those business units are operated under separate local management. Revenues and earnings before income taxes by segment for the third quarter and first nine months of 2022 and 2021 were as follows (in millions). Third Quarter First Nine Months 2022 2021 2022 2021 Revenues of Operating Businesses Insurance: Underwriting: GEICO $ 9,808 $ 9,604 $ 29,169 $ 28,073 Berkshire Hathaway Primary Group 3,485 2,964 9,916 8,373 Berkshire Hathaway Reinsurance Group 5,517 5,159 15,304 14,868 Investment income 1,683 1,339 5,331 4,212 Total insurance 20,493 19,066 59,720 55,526 BNSF 6,693 5,790 19,301 17,000 BHE 7,531 7,013 20,032 19,022 Manufacturing 19,000 17,496 57,193 50,821 McLane 13,569 12,612 39,346 36,529 Service and retailing 9,567 8,679 28,299 25,614 76,853 70,656 223,891 204,512 Reconciliation of segments to consolidated amount Corporate, eliminations and other 81 ( 73 ) 33 ( 216 ) $ 76,934 $ 70,583 $ 223,924 $ 204,296 Third Quarter First Nine Months 2022 2021 2022 2021 Earnings (Loss) Before Income Taxes of Operating Businesses Insurance: Underwriting: GEICO $ ( 759 ) $ ( 289 ) $ ( 1,424 ) $ 1,360 Berkshire Hathaway Primary Group ( 281 ) ( 23 ) 53 349 Berkshire Hathaway Reinsurance Group ( 110 ) ( 708 ) 1,013 ( 1,298 ) Investment income 1,678 1,337 5,322 4,205 Total insurance 528 317 4,964 4,616 BNSF 1,884 2,029 5,844 5,667 BHE 1,321 1,375 2,561 2,797 Manufacturing 2,883 2,445 8,735 7,595 McLane 112 ( 8 ) 270 179 Service and retailing 1,202 1,110 3,536 3,234 7,930 7,268 25,910 24,088 Reconciliation of segments to consolidated amount Investment and derivative gains (losses) ( 13,465 ) 4,921 ( 82,362 ) 38,015 Interest expense, not allocated to segments ( 99 ) ( 128 ) ( 303 ) ( 386 ) Equity method investments 441 377 1,048 775 Corporate, eliminations and other 1,076 46 2,920 241 $ ( 4,117 ) $ 12,484 $ ( 52,787 ) $ 62,733 |
New accounting pronouncements (
New accounting pronouncements (Policies) | 9 Months Ended |
Sep. 30, 2022 | |
Accounting Changes And Error Corrections [Abstract] | |
New accounting pronouncements | In August 2018, the Financial Accounting Standards Board issued Accounting Standards Update 2018-12 “Targeted Improvements to the Accounting for Long-Duration Contracts” (“ASU 2018-12”). ASU 2018-12 requires reassessment of cash flow assumptions at least annually and revision of discount rate assumptions each reporting period in valuing policyholder liabilities of long-duration contracts. Under ASU 2018-12, the effects from changes in cash flow assumptions are reflected in earnings and the effects from changes in discount rate assumptions are reflected in other comprehensive income. Currently, the cash flow and discount rate assumptions are set at the contract inception date and not subsequently changed, except under limited circumstances. ASU 2018-12 is to be applied retrospectively to the earliest period presented in the financial statements, will require new disclosures and is effective for fiscal years beginning after December 15, 2022, with early adoption permitted. We will adopt ASU 2018-12 as of January 1, 2023 using the modified retrospective method, whereby revised cash flow and discount rate assumptions as of January 1, 2021 (the transition date) are applied to contracts then in-force, with liabilities then remeasured, with the cumulative effect from discount rate changes (based on changes in prevailing interest rates) recorded in accumulated other comprehensive income and the cumulative effect from cash flow assumption changes in retained earnings. While we have not finalized our assessment and continue to evaluate the impact of the adoption beginning as of the transition date, we believe that the changes in discount rate assumptions will initially have a greater effect on our recorded liabilities than changes in cash flow assumptions. We preliminarily estimate the cumulative effect of adopting ASU 2018-12 will reduce our consolidated shareholders’ equity from the amount previously reported by approximately $ 6.5 billion as of January 1, 2021, with that reduction declining to approximately $ 4.7 billion as of December 31, 2021. While we have not determined the effect of adopting ASU 2018-12 as of September 30, 2022, we currently expect the cumulative reduction to our consolidated shareholders’ equity has declined significantly since December 31, 2021, based on the interest rate increases in 2022. |
Investments in fixed maturity_2
Investments in fixed maturity securities (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Investments Debt And Equity Securities [Abstract] | |
Schedule of investments in securities with fixed maturities | Investments in fixed maturity securities as of September 30, 2022 and December 31, 2021 are summarized by type below (in millions). Amortized Unrealized Unrealized Fair September 30, 2022 U.S. Treasury, U.S. government corporations and agencies $ 9,039 $ 4 $ ( 268 ) $ 8,775 Foreign governments 8,701 9 ( 205 ) 8,505 Corporate bonds 830 205 ( 6 ) 1,029 Other 275 22 ( 4 ) 293 $ 18,845 $ 240 $ ( 483 ) $ 18,602 December 31, 2021 U.S. Treasury, U.S. government corporations and agencies $ 3,286 $ 22 $ ( 5 ) $ 3,303 Foreign governments 10,998 29 ( 33 ) 10,994 Corporate bonds 1,363 412 ( 1 ) 1,774 Other 317 47 ( 1 ) 363 $ 15,964 $ 510 $ ( 40 ) $ 16,434 |
Schedule of amortized cost and estimated fair value of securities with fixed maturities | The amortized cost and estimated fair value of fixed maturity securities at September 30, 2022 are summarized below by contractual maturity dates. Amounts are in millions. Actual maturities may differ from contractual maturities due to prepayment rights held by issuers. Due in one Due after one year through Due after five years through Due after Mortgage- Total Amortized cost $ 7,904 $ 10,201 $ 460 $ 82 $ 198 $ 18,845 Fair value 7,753 9,895 654 85 215 18,602 |
Investments in equity securit_2
Investments in equity securities (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Investments Debt And Equity Securities [Abstract] | |
Schedule of investments in equity securities | Investments in equity securities as of September 30, 2022 and December 31, 2021 are summarized as follows (in millions). Cost Basis Net Unrealized Gains Fair Value September 30, 2022* Banks, insurance and finance $ 32,148 $ 36,817 $ 68,965 Consumer products 41,106 116,615 157,721 Commercial, industrial and other 69,056 10,425 79,481 $ 142,310 $ 163,857 $ 306,167 * Approximately 73 % of the aggregate fair value was concentrated in five companies (American Express Company – $ 20.5 billion; Apple Inc. – $ 126.5 billion; Bank of America Corporation – $ 31.2 billion; The Coca-Cola Company – $ 22.4 billion and Chevron Corporation – $ 24.4 billion). Cost Basis Net Unrealized Gains Fair Value December 31, 2021* Banks, insurance and finance $ 26,822 $ 62,236 $ 89,058 Consumer products 36,076 154,945 191,021 Commercial, industrial and other 41,707 28,933 70,640 $ 104,605 $ 246,114 $ 350,719 * Approximately 73 % of the aggregate fair value was concentrated in four companies (American Express Company – $ 24.8 billion; Apple Inc. – $ 161.2 billion; Bank of America Corporation – $ 46.0 billion and The Coca-Cola Company – $ 23.7 billion). |
Equity method investments (Tabl
Equity method investments (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Equity Method Investments And Joint Ventures [Abstract] | |
Summary of carrying value and fair value of investments | The fair values and carrying values of these two investments in addition to the carrying values of our other significant equity method investments are summarized as follows (in millions). We evaluated our investment in Kraft Heinz for impairment as of September 30, 2022. Based on the prevailing facts and circumstances, we concluded recognition of an impairment loss in earnings was not required. Carrying Value Fair Value September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 Kraft Heinz $ 12,769 $ 13,112 $ 10,853 $ 11,683 Occidental 11,180 — 11,943 — Other 4,765 4,263 $ 28,714 $ 17,375 |
Summary of earnings and distributions received from equity method investments | Our earnings and distributions received from equity method investments are summarized in the table below (in millions). Equity in Earnings Distributions Received Third Quarter First Nine Months Third Quarter First Nine Months 2022 2021 2022 2021 2022 2021 2022 2021 Kraft Heinz $ 114 $ 194 $ 391 $ 337 $ 131 $ 131 $ 391 $ 391 Occidental — — — — — — — — Other 327 183 657 438 94 55 231 1,037 $ 441 $ 377 $ 1,048 $ 775 $ 225 $ 186 $ 622 $ 1,428 |
Summarized unaudited financial information of Kraft Heinz | Summarized consolidated financial information of Kraft Heinz follows (in millions). September 24, December 25, Assets $ 89,992 $ 93,394 Liabilities 41,649 43,942 Third Quarter First Nine Months 2022 2021 2022 2021 Sales $ 6,505 $ 6,324 $ 19,104 $ 19,333 Net earnings attributable to Kraft Heinz common shareholders 432 733 1,473 1,269 Summarized consolidated financial information of Occidental follows (in millions). June 30, December 31, Assets $ 74,221 $ 75,036 Liabilities 46,391 54,709 Second Quarter First Six Months 2022 2021 2022 2021 Total revenues and other income $ 10,735 $ 6,010 $ 19,268 $ 11,489 Net earnings (loss) attributable to Occidental common shareholders 3,555 ( 97 ) 8,231 ( 443 ) |
Investment and derivative con_2
Investment and derivative contract gains/losses (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Investments Debt And Equity Securities [Abstract] | |
Summary of investment and derivative gains and losses | Investment and derivative contract gains/losses in the third quarter and first nine months of 2022 and 2021 are summarized as follows (in millions). Third Quarter First Nine Months 2022 2021 2022 2021 Investment gains (losses): Equity securities: Change in unrealized investment gains (losses) during the period on $ ( 12,902 ) $ 4,759 $ ( 80,496 ) $ 36,163 Investment gains (losses) on securities sold during the period ( 165 ) 75 ( 1,085 ) 889 ( 13,067 ) 4,834 ( 81,581 ) 37,052 Fixed maturity securities: Gross realized gains 6 24 18 59 Gross realized losses ( 433 ) ( 7 ) ( 509 ) ( 20 ) Other ( 6 ) — ( 17 ) 144 Investment gains (losses) ( 13,500 ) 4,851 ( 82,089 ) 37,235 Derivative contract gains (losses) 35 70 ( 273 ) 780 $ ( 13,465 ) $ 4,921 $ ( 82,362 ) $ 38,015 |
Loans and finance receivables (
Loans and finance receivables (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Schedule of receivables | Other receivables are comprised of the following (in millions). September 30, December 31, Insurance and other: Insurance premiums receivable $ 17,815 $ 15,050 Reinsurance recoverables 4,793 4,900 Trade receivables 14,448 12,971 Other 4,051 3,146 Allowances for credit losses ( 724 ) ( 679 ) $ 40,383 $ 35,388 Railroad, utilities and energy: Trade receivables $ 4,362 $ 3,678 Other 765 650 Allowances for credit losses ( 142 ) ( 151 ) $ 4,985 $ 4,177 |
Loans and Finance Receivables [Member] | |
Schedule of receivables | Loans and finance receivables are summarized as follows (in millions). September 30, December 31, Loans and finance receivables before allowances and discounts $ 23,442 $ 22,065 Allowances for credit losses ( 785 ) ( 765 ) Unamortized acquisition discounts and points ( 563 ) ( 549 ) $ 22,094 $ 20,751 |
Schedule of reconciliation of allowance for credit losses on loans and finance receivables | Loans and finance receivables are principally manufactured home loans, and to a lesser extent, site-built home loans and commercial loans. Reconciliations of the allowance for credit losses on loans and finance receivables for the first nine months of 2022 and 2021 follow (in millions). First Nine Months 2022 2021 Balance at beginning of year $ 765 $ 712 Provision for credit losses 45 65 Charge-offs, net of recoveries ( 25 ) ( 33 ) Balance at September 30 $ 785 $ 744 |
Manufactured Housing Loan Balances [Member] | |
Summary of performing and non-performing home loans before discounts and allowances by year of loan origination | A summary of performing and non-performing home loans before discounts and allowances by year of loan origination as of September 30, 2022 follows (in millions). Origination Year 2022 2021 2020 2019 2018 Prior Total Performing $ 4,268 $ 3,696 $ 2,883 $ 2,037 $ 1,544 $ 7,205 $ 21,633 Non-performing 4 7 9 8 7 42 77 $ 4,272 $ 3,703 $ 2,892 $ 2,045 $ 1,551 $ 7,247 $ 21,710 |
Other receivables (Tables)
Other receivables (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Receivables [Abstract] | |
Schedule of receivables | Other receivables are comprised of the following (in millions). September 30, December 31, Insurance and other: Insurance premiums receivable $ 17,815 $ 15,050 Reinsurance recoverables 4,793 4,900 Trade receivables 14,448 12,971 Other 4,051 3,146 Allowances for credit losses ( 724 ) ( 679 ) $ 40,383 $ 35,388 Railroad, utilities and energy: Trade receivables $ 4,362 $ 3,678 Other 765 650 Allowances for credit losses ( 142 ) ( 151 ) $ 4,985 $ 4,177 |
Inventories (Tables)
Inventories (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Inventory Disclosure [Abstract] | |
Schedule of inventories | Inventories are comprised of the following (in millions). September 30, December 31, Raw materials $ 6,473 $ 5,743 Work in process and other 3,750 3,192 Finished manufactured goods 5,776 4,530 Goods acquired for resale 9,103 7,489 $ 25,102 $ 20,954 |
Property, plant and equipment_2
Property, plant and equipment including equipment held for lease (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Schedule of depreciation expense | Depreciation expense for the first nine months of 2022 and 2021 is summarized below (in millions). First Nine Months 2022 2021 Insurance and other $ 1,690 $ 1,725 Railroad, utilities and energy 4,646 4,485 $ 6,336 $ 6,210 |
Insurance and Other [Member] | |
Schedule of property, plant and equipment | A summary of property, plant and equipment of our insurance and other businesses follows (in millions). September 30, December 31, Land, buildings and improvements $ 14,089 $ 14,070 Machinery and equipment 26,072 26,063 Furniture, fixtures and other 4,968 4,640 45,129 44,773 Accumulated depreciation ( 24,751 ) ( 23,939 ) $ 20,378 $ 20,834 |
Railroad, Utilities and Energy [Member] | |
Schedule of property, plant and equipment | A summary of property, plant and equipment of railroad and utilities and energy businesses follows (in millions). The utility generation, transmission and distribution systems and interstate natural gas pipeline assets are owned by regulated public utility and natural gas pipeline subsidiaries. September 30, December 31, Railroad: Land, track structure and other roadway $ 66,744 $ 65,843 Locomotives, freight cars and other equipment 15,989 13,822 Construction in progress 1,366 1,027 84,099 80,692 Accumulated depreciation ( 17,530 ) ( 14,978 ) 66,569 65,714 Utilities and energy: Utility generation, transmission and distribution systems 90,756 90,223 Interstate natural gas pipeline assets 17,882 17,423 Independent power plants and other assets 14,352 13,695 Construction in progress 5,198 4,196 128,188 125,537 Accumulated depreciation ( 37,285 ) ( 35,721 ) 90,903 89,816 $ 157,472 $ 155,530 |
Equipment held for lease (Table
Equipment held for lease (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Property Plant And Equipment [Abstract] | |
Summary of equipment held for lease | Equipment held for lease includes railcars, aircraft, over-the-road trailers, intermodal tank containers, cranes, storage units and furniture. Equipment held for lease is summarized below (in millions). September 30, December 31, Railcars $ 9,556 $ 9,448 Aircraft 10,089 9,234 Other 5,120 5,053 24,765 23,735 Accumulated depreciation ( 9,626 ) ( 8,817 ) $ 15,139 $ 14,918 |
Summary of fixed and variable operating lease revenues | Fixed and variable operating lease revenues for the third quarter and first nine months of 2022 and 2021 are summarized below (in millions). Third Quarter First Nine Months 2022 2021 2022 2021 Fixed lease revenue $ 1,344 $ 1,151 $ 3,796 $ 3,318 Variable lease revenue 615 414 1,722 1,018 $ 1,959 $ 1,565 $ 5,518 $ 4,336 |
Goodwill and other intangible_2
Goodwill and other intangible assets (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Reconciliation of the change in goodwill | Reconciliations of the changes in the carrying value of goodwill for the first nine months of 2022 and for the year ended December 31, 2021 follow (in millions). September 30, December 31, Balance at beginning of year $ 73,875 $ 73,734 Business acquisitions 78 353 Other, including foreign currency translation ( 618 ) ( 212 ) Balance at end of period* $ 73,335 $ 73,875 * Net of accumulated goodwill impairments of $ 11.0 billion as of September 30, 2022 and December 31, 2021. |
Schedule of intangible assets | The gross carrying amounts and accumulated amortization of other intangible assets are summarized below (in millions). September 30, 2022 December 31, 2021 Gross Accumulated Net Gross Accumulated Net Insurance and other: Customer relationships $ 27,337 $ 6,957 $ 20,380 $ 27,335 $ 6,450 $ 20,885 Trademarks and trade names 5,158 816 4,342 5,176 802 4,374 Patents and technology 4,957 3,741 1,216 4,763 3,484 1,279 Other 3,280 1,480 1,800 3,390 1,442 1,948 $ 40,732 $ 12,994 $ 27,738 $ 40,664 $ 12,178 $ 28,486 Railroad, utilities and energy: Customer relationships $ 678 $ 421 $ 257 $ 678 $ 396 $ 282 Trademarks, trade names and other 1,015 182 833 1,015 146 869 $ 1,693 $ 603 $ 1,090 $ 1,693 $ 542 $ 1,151 |
Unpaid losses and loss adjust_2
Unpaid losses and loss adjustment expenses (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Insurance [Abstract] | |
Schedule of liability for unpaid claims and claims adjustment expense | A reconciliation of the changes in claim liabilities, excluding liabilities under retroactive reinsurance contracts (see Note 14), for each of the nine-month periods ending September 30, 2022 and 2021 follows (in millions). 2022 2021 Balances at beginning of year: Gross liabilities $ 86,664 $ 79,854 Reinsurance recoverable on unpaid losses ( 2,960 ) ( 2,912 ) Net liabilities 83,704 76,942 Incurred losses and loss adjustment expenses: Current accident year 44,472 38,447 Prior accident years ( 2,141 ) ( 2,151 ) Total 42,331 36,296 Paid losses and loss adjustment expenses: Current accident year ( 17,543 ) ( 15,277 ) Prior accident years ( 18,564 ) ( 15,076 ) Total ( 36,107 ) ( 30,353 ) Foreign currency effect ( 1,044 ) ( 119 ) Balances at September 30: Net liabilities 88,884 82,766 Reinsurance recoverable on unpaid losses 2,758 2,988 Gross liabilities $ 91,642 $ 85,754 |
Retroactive reinsurance contr_2
Retroactive reinsurance contracts (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Insurance [Abstract] | |
Reconciliation of changes in retroactive reinsurance claim liabilities and deferred charges | Reconciliations of the changes in estimated liabilities for retroactive reinsurance unpaid losses and loss adjustment expenses (“claim liabilities”) and related deferred charges for each of the nine-month periods ending September 30, 2022 and 2021 follow (in millions). 2022 2021 Unpaid losses Deferred Unpaid losses Deferred Balances at beginning of year $ 38,256 $ ( 10,639 ) $ 40,966 $ ( 12,441 ) Incurred losses and loss adjustment expenses: Current year contracts — — 82 — Prior years’ contracts ( 23 ) 649 ( 9 ) 709 Total ( 23 ) 649 73 709 Paid losses and loss adjustment expenses ( 1,567 ) — ( 1,318 ) — Balances at September 30 $ 36,666 $ ( 9,990 ) $ 39,721 $ ( 11,732 ) Incurred losses and loss adjustment expenses, net of deferred charges $ 626 $ 782 |
Notes payable and other borro_2
Notes payable and other borrowings (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Schedule of short and long term outstanding debt disclosure | Notes payable and other borrowings are summarized below (in millions). The weighted average interest rates and maturity date ranges shown in the following tables are based on borrowings as of September 30, 2022. Weighted September 30, December 31, Insurance and other: Berkshire Hathaway Inc. (“Berkshire”): U.S. Dollar denominated due 2023 - 2047 3.3 % $ 6,227 $ 6,820 Euro denominated due 2023 - 2041 1.0 % 6,722 7,792 Japanese Yen denominated due 2023 - 2060 0.6 % 6,289 6,797 Berkshire Hathaway Finance Corporation (“BHFC”): U.S. Dollar denominated due 2027 - 2052 3.6 % 14,456 10,758 Great Britain Pound denominated due 2039 - 2059 2.5 % 1,920 2,325 Euro denominated due 2030 - 2034 1.8 % 1,219 — Other subsidiary borrowings due 2022 - 2045 4.1 % 4,328 4,438 Subsidiary short-term borrowings 4.7 % 374 342 $ 41,535 $ 39,272 |
Railroad, Utilities and Energy [Member] | |
Schedule of short and long term outstanding debt disclosure | Weighted September 30, December 31, Railroad, utilities and energy: Berkshire Hathaway Energy Company (“BHE”) and subsidiaries: BHE senior unsecured debt due 2023 - 2053 4.3 % $ 13,992 $ 13,003 Subsidiary and other debt due 2022 - 2064 4.2 % 36,226 36,759 Short-term borrowings 4.2 % 1,441 2,009 Burlington Northern Santa Fe ("BNSF") and subsidiaries due 2022 - 2097 4.5 % 23,302 23,219 $ 74,961 $ 74,990 |
Fair value measurements (Tables
Fair value measurements (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
Financial assets and liabilities measured at fair value on a recurring basis | Our financial assets and liabilities are summarized below as of September 30, 2022 and December 31, 2021, with fair values shown according to the fair value hierarchy (in millions). The carrying values of cash and cash equivalents, U.S. Treasury Bills, other receivables and accounts payable, accruals and other liabilities are considered to be reasonable estimates of their fair values. Carrying Fair Value Quoted Significant Significant September 30, 2022 Investments in fixed maturity securities: U.S. Treasury, U.S. government corporations $ 8,775 $ 8,775 $ 8,740 $ 35 $ — Foreign governments 8,505 8,505 8,207 298 — Corporate bonds 1,029 1,029 — 1,029 — Other 293 293 — 293 — Investments in equity securities 306,167 306,167 294,094 7 12,066 Investment in Kraft Heinz & Occidental common stock 23,949 22,796 22,796 — — Loans and finance receivables 22,094 22,659 — 1,744 20,915 Derivative contract asset s (1) 731 731 68 593 70 Derivative contract liabiliti es (1) 261 261 2 133 126 Notes payable and other borrowings: Insurance and other 41,535 36,362 — 36,314 48 Railroad, utilities and energy 74,961 66,991 — 66,991 — December 31, 2021 Investments in fixed maturity securities: U.S. Treasury, U.S. government corporations $ 3,303 $ 3,303 $ 3,261 $ 42 $ — Foreign governments 10,994 10,994 10,286 708 — Corporate bonds 1,774 1,774 — 1,774 — Other 363 363 — 363 — Investments in equity securities 350,719 350,719 339,225 8 11,486 Investment in Kraft Heinz common stock 13,112 11,683 11,683 — — Loans and finance receivables 20,751 22,174 — 2,178 19,996 Derivative contract assets (1) 329 329 6 230 93 Derivative contract liabilities (1) 376 376 2 150 224 Notes payable and other borrowings: Insurance and other 39,272 42,339 — 42,292 47 Railroad, utilities and energy 74,990 87,065 — 87,065 — (1) Assets are included in other assets and liabilities are included in accounts payable, accruals and other liabilities. |
Reconciliations of significant assets and liabilities measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) | Reconciliations of significant assets and liabilities measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) for the nine months ended September 30, 2022 and 2021 follow (in millions). Balance at Gains included in earnings Acquisitions, Transfers out of Level 3 Balance at September 30 Investments in equity securities: 2022 $ 11,480 $ 581 $ — $ — $ 12,061 2021 8,978 1,713 1,100 — 11,791 Equity index put option contract liabilities: 2021 ( 1,065 ) 780 ( 1 ) — ( 286 ) |
Fair value assets and liabilities measured on recurring basis, unobservable inputs, additional information | Quantitative information as of September 30, 2022 with respect to significant assets and liabilities measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) follows (dollars in millions). Fair Principal Valuation Unobservable Weighted Investments in equity securities: Preferred stock $ 9,956 Discounted cash flow Expected duration 7 years Discount for transferability 372 bps Common stock warrants 2,105 Warrant pricing model Expected duration 7 years Volatility 39 % |
Common stock (Tables)
Common stock (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Equity [Abstract] | |
Changes in issued, treasury and outstanding Berkshire common stock | Changes in Berkshire’s issued, treasury and outstanding common stock during the first nine months of 2022 are shown in the table below. In addition to our common stock, 1,000,000 shares of preferred stock are authorized, but none are issued. Class A, $ 5 Par Value 1,650,000 shares authorized) Class B, $ 0.0033 Par Value 3,225,000,000 shares authorized) Issued Treasury Outstanding Issued Treasury Outstanding Balances at December 31, 2021 665,901 ( 48,788 ) 617,113 1,488,292,852 ( 197,818,349 ) 1,290,474,503 Conversions of Class A to ( 12,093 ) — ( 12,093 ) 18,139,500 — 18,139,500 Treasury stock acquired — ( 6,818 ) ( 6,818 ) — ( 6,850,133 ) ( 6,850,133 ) Balances at September 30, 2022 653,808 ( 55,606 ) 598,202 1,506,432,352 ( 204,668,482 ) 1,301,763,870 |
Accumulated other comprehensi_2
Accumulated other comprehensive income (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Equity [Abstract] | |
Schedule of accumulated other comprehensive income | A summary of the net changes in after-tax accumulated other comprehensive income attributable to Berkshire Hathaway shareholders for the nine months ending September 30, 2022 and 2021 follows (in millions). Unrealized Foreign Defined benefit Other Accumulated First nine months of 2022 Balance at beginning of year $ 369 $ ( 4,092 ) $ ( 347 ) $ 43 $ ( 4,027 ) Other comprehensive income, net ( 767 ) ( 3,676 ) 47 189 ( 4,207 ) Balance at end of period $ ( 398 ) $ ( 7,768 ) $ ( 300 ) $ 232 $ ( 8,234 ) First nine months of 2021 Balance at beginning of year $ 536 $ ( 3,082 ) $ ( 1,645 ) $ ( 52 ) $ ( 4,243 ) Other comprehensive income, net ( 126 ) ( 619 ) 112 42 ( 591 ) Balance at end of period $ 410 $ ( 3,701 ) $ ( 1,533 ) $ ( 10 ) $ ( 4,834 ) |
Supplemental cash flow inform_2
Supplemental cash flow information (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Supplemental Cash Flow Elements [Abstract] | |
Schedule of supplemental cash flow information | A summary of supplemental cash flow information is presented in the following table (in millions). First Nine Months 2022 2021 Cash paid during the period for: Income taxes $ 3,474 $ 4,002 Interest: Insurance and other 917 1,040 Railroad, utilities and energy 2,323 2,335 |
Revenues from contracts with _2
Revenues from contracts with customers (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Revenue From Contract With Customer [Abstract] | |
Revenue from contracts with customers disaggregated by reportable segment and source of revenue | The following tables summarize customer contract revenues disaggregated by reportable segment and the source of the revenue for the third quarter and first nine months of 2022 and 2021 (in millions). Other revenues, which are not considered to be revenues from contracts with customers under GAAP, are primarily insurance premiums earned, interest, dividend and other investment income and leasing revenues. Manufacturing McLane Service BNSF Berkshire Insurance, Total Three months ending September 30, 2022 Manufactured products: Industrial and commercial products $ 6,145 $ — $ 51 $ — $ — $ — $ 6,196 Building products 5,928 — — — — — 5,928 Consumer products 4,753 — — — — — 4,753 Grocery and convenience store distribution — 8,315 — — — — 8,315 Food and beverage distribution — 4,946 — — — — 4,946 Auto sales — — 2,686 — — — 2,686 Other retail and wholesale distribution 803 — 4,189 — — — 4,992 Service 328 277 1,006 6,646 1,328 — 9,585 Electricity and natural gas — — — — 5,905 — 5,905 Total 17,957 13,538 7,932 6,646 7,233 — 53,306 Other revenues 1,012 32 1,609 17 294 20,664 23,628 $ 18,969 $ 13,570 $ 9,541 $ 6,663 $ 7,527 $ 20,664 $ 76,934 Nine months ending September 30, 2022 Manufactured products: Industrial and commercial products $ 18,219 $ — $ 148 $ — $ — $ — $ 18,367 Building products 17,317 — — — — — 17,317 Consumer products 15,355 — — — — — 15,355 Grocery and convenience store distribution — 24,000 — — — — 24,000 Food and beverage distribution — 14,510 — — — — 14,510 Auto sales — — 7,888 — — — 7,888 Other retail and wholesale distribution 2,343 — 12,629 — — — 14,972 Service 894 739 3,090 19,173 4,001 — 27,897 Electricity and natural gas — — — — 15,359 — 15,359 Total 54,128 39,249 23,755 19,173 19,360 — 155,665 Other revenues 2,962 97 4,470 46 658 60,026 68,259 $ 57,090 $ 39,346 $ 28,225 $ 19,219 $ 20,018 $ 60,026 $ 223,924 Notes to Consolidated Financial Statements (Continued) Note 22. Revenues from contracts with customers (Continued) Manufacturing McLane Service BNSF Berkshire Insurance, Total Three months ending September 30, 2021 Manufactured products: Industrial and commercial products $ 5,600 $ — $ 43 $ — $ — $ — $ 5,643 Building products 5,005 — — — — — 5,005 Consumer products 4,758 — — — — — 4,758 Grocery and convenience store distribution — 7,933 — — — — 7,933 Food and beverage distribution — 4,478 — — — — 4,478 Auto sales — — 2,423 — — — 2,423 Other retail and wholesale distribution 742 — 3,913 — — — 4,655 Service 400 175 1,073 5,747 1,586 — 8,981 Electricity and natural gas — — — — 5,138 — 5,138 Total 16,505 12,586 7,452 5,747 6,724 — 49,014 Other revenues 951 26 1,202 14 289 19,087 21,569 $ 17,456 $ 12,612 $ 8,654 $ 5,761 $ 7,013 $ 19,087 $ 70,583 Nine months ending September 30, 2021 Manufactured products: Industrial and commercial products $ 16,549 $ — $ 142 $ — $ — $ — $ 16,691 Building products 14,518 — — — — — 14,518 Consumer products 13,525 — — — — — 13,525 Grocery and convenience store distribution — 23,104 — — — — 23,104 Food and beverage distribution — 12,838 — — — — 12,838 Auto sales — — 7,485 — — — 7,485 Other retail and wholesale distribution 2,199 — 11,577 — — — 13,776 Service 1,099 509 3,060 16,875 4,219 — 25,762 Electricity and natural gas — — — — 14,048 — 14,048 Total 47,890 36,451 22,264 16,875 18,267 — 141,747 Other revenues 2,821 78 3,287 42 755 55,566 62,549 $ 50,711 $ 36,529 $ 25,551 $ 16,917 $ 19,022 $ 55,566 $ 204,296 |
Transaction price allocated to significant unsatisfied remaining performance obligations and timing of when performance obligations expected to be satisfied | A summary of the transaction price allocated to the significant unsatisfied remaining performance obligations relating to contracts with expected durations in excess of one year as of September 30, 2022 and the timing of when the performance obligations are expected to be satisfied follows (in millions). Less than Greater than Total Electricity and natural gas $ 3,619 $ 21,586 $ 25,205 Other sales and service contracts 1,588 3,039 4,627 |
Business segment data (Tables)
Business segment data (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Segment Reporting [Abstract] | |
Schedule of revenues and earnings or loss before income taxes by segment | Our operating businesses include a large and diverse group of insurance, manufacturing, service and retailing businesses. We organize our reportable business segments in a manner that reflects how management views those business activities. Certain businesses are grouped together for segment reporting based upon similar products or product lines and marketing, selling and distribution characteristics, even though those business units are operated under separate local management. Revenues and earnings before income taxes by segment for the third quarter and first nine months of 2022 and 2021 were as follows (in millions). Third Quarter First Nine Months 2022 2021 2022 2021 Revenues of Operating Businesses Insurance: Underwriting: GEICO $ 9,808 $ 9,604 $ 29,169 $ 28,073 Berkshire Hathaway Primary Group 3,485 2,964 9,916 8,373 Berkshire Hathaway Reinsurance Group 5,517 5,159 15,304 14,868 Investment income 1,683 1,339 5,331 4,212 Total insurance 20,493 19,066 59,720 55,526 BNSF 6,693 5,790 19,301 17,000 BHE 7,531 7,013 20,032 19,022 Manufacturing 19,000 17,496 57,193 50,821 McLane 13,569 12,612 39,346 36,529 Service and retailing 9,567 8,679 28,299 25,614 76,853 70,656 223,891 204,512 Reconciliation of segments to consolidated amount Corporate, eliminations and other 81 ( 73 ) 33 ( 216 ) $ 76,934 $ 70,583 $ 223,924 $ 204,296 Third Quarter First Nine Months 2022 2021 2022 2021 Earnings (Loss) Before Income Taxes of Operating Businesses Insurance: Underwriting: GEICO $ ( 759 ) $ ( 289 ) $ ( 1,424 ) $ 1,360 Berkshire Hathaway Primary Group ( 281 ) ( 23 ) 53 349 Berkshire Hathaway Reinsurance Group ( 110 ) ( 708 ) 1,013 ( 1,298 ) Investment income 1,678 1,337 5,322 4,205 Total insurance 528 317 4,964 4,616 BNSF 1,884 2,029 5,844 5,667 BHE 1,321 1,375 2,561 2,797 Manufacturing 2,883 2,445 8,735 7,595 McLane 112 ( 8 ) 270 179 Service and retailing 1,202 1,110 3,536 3,234 7,930 7,268 25,910 24,088 Reconciliation of segments to consolidated amount Investment and derivative gains (losses) ( 13,465 ) 4,921 ( 82,362 ) 38,015 Interest expense, not allocated to segments ( 99 ) ( 128 ) ( 303 ) ( 386 ) Equity method investments 441 377 1,048 775 Corporate, eliminations and other 1,076 46 2,920 241 $ ( 4,117 ) $ 12,484 $ ( 52,787 ) $ 62,733 |
New accounting pronouncements -
New accounting pronouncements - Narrative (Detail) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 | Jan. 01, 2021 |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||
Shareholders equity | $ 455,430 | $ 506,199 | |
ASU 2018-12 [Member] | Revision of Prior Period, Change in Accounting Principle, Adjustment [Member] | |||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||
Shareholders equity | $ (4,700) | $ (6,500) |
Investments in fixed maturity_3
Investments in fixed maturity securities (Detail) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Summary of Investment Holdings [Line Items] | ||
Amortized cost of fixed maturity securities | $ 18,845 | $ 15,964 |
Unrealized gains on fixed maturity securities | 240 | 510 |
Unrealized losses on fixed maturity securities | (483) | (40) |
Fair value of fixed maturity securities | 18,602 | 16,434 |
U.S. Treasury, U.S. government corporations and agencies [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Amortized cost of fixed maturity securities | 9,039 | 3,286 |
Unrealized gains on fixed maturity securities | 4 | 22 |
Unrealized losses on fixed maturity securities | (268) | (5) |
Fair value of fixed maturity securities | 8,775 | 3,303 |
Foreign governments [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Amortized cost of fixed maturity securities | 8,701 | 10,998 |
Unrealized gains on fixed maturity securities | 9 | 29 |
Unrealized losses on fixed maturity securities | (205) | (33) |
Fair value of fixed maturity securities | 8,505 | 10,994 |
Corporate bonds [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Amortized cost of fixed maturity securities | 830 | 1,363 |
Unrealized gains on fixed maturity securities | 205 | 412 |
Unrealized losses on fixed maturity securities | (6) | (1) |
Fair value of fixed maturity securities | 1,029 | 1,774 |
Other [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Amortized cost of fixed maturity securities | 275 | 317 |
Unrealized gains on fixed maturity securities | 22 | 47 |
Unrealized losses on fixed maturity securities | (4) | (1) |
Fair value of fixed maturity securities | $ 293 | $ 363 |
Investments in fixed maturity_4
Investments in fixed maturity securities - Amortized cost and estimated fair value of securities with fixed maturities (Detail) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Summary of Investment Holdings [Line Items] | ||
Due in one year or less - amortized cost | $ 7,904 | |
Due after one year through five years - amortized cost | 10,201 | |
Due after five years through ten years - amortized cost | 460 | |
Due after ten years - amortized cost | 82 | |
Amortized cost of fixed maturity securities | 18,845 | $ 15,964 |
Due in one year or less - fair value | 7,753 | |
Due after one year through five years - fair value | 9,895 | |
Due after five years through ten years - fair value | 654 | |
Due after ten years - fair value | 85 | |
Fair value of fixed maturity securities | 18,602 | $ 16,434 |
Mortgage-backed securities [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Amortized cost of mortgage-backed securities | 198 | |
Fair value of mortgage-backed securities | $ 215 |
Investments in fixed maturity_5
Investments in fixed maturity securities - Narrative (Detail) | Sep. 30, 2022 |
Foreign governments [Member] | AA or Higher Credit Rating [Member] | |
Summary of Investment Holdings [Line Items] | |
Percentage of fixed maturity investments by credit rating | 93% |
Investments in equity securit_3
Investments in equity securities (Detail) - USD ($) $ in Millions | Sep. 30, 2022 | [1] | Dec. 31, 2021 | [2] |
Summary of Investment Holdings [Line Items] | ||||
Cost Basis | $ 142,310 | $ 104,605 | ||
Net Unrealized Gains | 163,857 | 246,114 | ||
Fair Value | 306,167 | 350,719 | ||
Banks, insurance and finance [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Cost Basis | 32,148 | 26,822 | ||
Net Unrealized Gains | 36,817 | 62,236 | ||
Fair Value | 68,965 | 89,058 | ||
Consumer products [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Cost Basis | 41,106 | 36,076 | ||
Net Unrealized Gains | 116,615 | 154,945 | ||
Fair Value | 157,721 | 191,021 | ||
Commercial, industrial and other [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Cost Basis | 69,056 | 41,707 | ||
Net Unrealized Gains | 10,425 | 28,933 | ||
Fair Value | $ 79,481 | $ 70,640 | ||
[1] Approximately 73 % of the aggregate fair value was concentrated in five companies (American Express Company – $ 20.5 billion; Apple Inc. – $ 126.5 billion; Bank of America Corporation – $ 31.2 billion; The Coca-Cola Company – $ 22.4 billion and Chevron Corporation – $ 24.4 billion). Approximately 73 % of the aggregate fair value was concentrated in four companies (American Express Company – $ 24.8 billion; Apple Inc. – $ 161.2 billion; Bank of America Corporation – $ 46.0 billion and The Coca-Cola Company – $ 23.7 billion). |
Investments in equity securit_4
Investments in equity securities (Parenthetical) (Detail) $ in Millions | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2022 USD ($) Company | Dec. 31, 2021 USD ($) Company | |||
Summary of Investment Holdings [Line Items] | ||||
Equity Securities Fv Ni | $ 306,167 | [1] | $ 350,719 | [2] |
American Express Company [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Equity Securities Fv Ni | 20,500 | 24,800 | ||
Apple Inc. [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Equity Securities Fv Ni | 126,500 | 161,200 | ||
Bank of America Corporation [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Equity Securities Fv Ni | 31,200 | 46,000 | ||
Coca Cola Company [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Equity Securities Fv Ni | 22,400 | $ 23,700 | ||
Chevron Corporation [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Equity Securities Fv Ni | $ 24,400 | |||
Equity Securities [Member] | American Express Company, Apple Inc., Bank of America Corporation, The Coca-Cola Company and Chevron Corporation [Member] | Investment Concentration [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Concentration percentage | 73% | |||
Number of companies in concentration percentage | Company | 5 | |||
Equity Securities [Member] | American Express Company, Apple Inc., Bank of America Corporation and The Coca-Cola Company [Member] | Investment Concentration [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Concentration percentage | 73% | |||
Number of companies in concentration percentage | Company | 4 | |||
[1] Approximately 73 % of the aggregate fair value was concentrated in five companies (American Express Company – $ 20.5 billion; Apple Inc. – $ 126.5 billion; Bank of America Corporation – $ 31.2 billion; The Coca-Cola Company – $ 22.4 billion and Chevron Corporation – $ 24.4 billion). Approximately 73 % of the aggregate fair value was concentrated in four companies (American Express Company – $ 24.8 billion; Apple Inc. – $ 161.2 billion; Bank of America Corporation – $ 46.0 billion and The Coca-Cola Company – $ 23.7 billion). |
Investments in equity securit_5
Investments in equity securities - Narrative (Detail) - USD ($) $ / shares in Units, $ in Billions | 6 Months Ended | 9 Months Ended | |
Jun. 30, 2022 | Sep. 30, 2022 | Aug. 04, 2022 | |
American Express Company [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment owned, common shares outstanding | 151,600,000 | ||
Investment owned, percent of common shares outstanding | 20.30% | ||
Occidental Petroleum Corporation [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Percentage of acquired common stock outstanding | 17% | ||
Occidental Petroleum Corporation [Member] | Investment Commitment [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Number of common shares that can be purchased | 83,860,000 | ||
Exercise price for warrants, per share | $ 59.62 | ||
Occidental Petroleum Corporation [Member] | Cumulative Perpetual Preferred Stock [Member] | Investment Commitment [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Investment in preferred stock, liquidation value | $ 10 | ||
Investment in preferred stock, stated dividend rate | 8% | ||
Investment in preferred stock, redemption year start | 2029 | ||
Investment in preferred stock, redemption price percentage of liquidation preference | 105% | ||
Occidental Petroleum Corporation [Member] | Occidental Common Stock [Member] | Minimum [Member] | |||
Summary of Investment Holdings [Line Items] | |||
Equity method investment ownership percentage | 20% |
Equity method investments - Nar
Equity method investments - Narrative (Detail) | 3 Months Ended | 9 Months Ended | |||
Mar. 31, 2023 | Sep. 30, 2022 USD ($) Location Store | Sep. 30, 2021 USD ($) | Sep. 30, 2022 USD ($) Location Store | Sep. 30, 2021 USD ($) | |
Schedule Of Equity Method Investments [Line Items] | |||||
Equity method investment special distribution | $ 225,000,000 | $ 186,000,000 | $ 622,000,000 | $ 1,428,000,000 | |
The Kraft Heinz Company [Member] | |||||
Schedule Of Equity Method Investments [Line Items] | |||||
Equity method investment ownership percentage | 26.50% | 26.50% | |||
Equity method investment special distribution | $ 131,000,000 | $ 131,000,000 | $ 391,000,000 | 391,000,000 | |
Occidental Petroleum Corporation [Member] | |||||
Schedule Of Equity Method Investments [Line Items] | |||||
Equity method investment ownership percentage | 20.90% | 20.90% | |||
Berkadia Commercial Mortgage LLC [Member] | |||||
Schedule Of Equity Method Investments [Line Items] | |||||
Equity method investment ownership percentage | 50% | 50% | |||
Berkadia Commercial Mortgage LLC [Member] | Jefferies Financial Group Inc. [Member] | |||||
Schedule Of Equity Method Investments [Line Items] | |||||
Equity method investment ownership percentage | 50% | 50% | |||
Berkadia Commercial Mortgage LLC [Member] | Commercial Paper [Member] | |||||
Schedule Of Equity Method Investments [Line Items] | |||||
Maximum outstanding balance of commercial paper borrowings | $ 1,500,000,000 | $ 1,500,000,000 | |||
Electric Transmission Texas, LLC [Member] | Berkshire Hathaway Energy Company Subsidiary [Member] | |||||
Schedule Of Equity Method Investments [Line Items] | |||||
Equity method investment ownership percentage | 50% | 50% | |||
Pilot Travel Centers LLC [Member] | |||||
Schedule Of Equity Method Investments [Line Items] | |||||
Equity method investment ownership percentage | 38.60% | 38.60% | |||
Equity method investment special distribution | $ 849,000,000 | ||||
Number of retail | Store | 800 | 800 | |||
Pilot Travel Centers LLC [Member] | U.S. States [Member] | |||||
Schedule Of Equity Method Investments [Line Items] | |||||
Number of places retail locations located | Location | 44 | 44 | |||
Pilot Travel Centers LLC [Member] | Canadian Provinces [Member] | |||||
Schedule Of Equity Method Investments [Line Items] | |||||
Number of places retail locations located | Location | 6 | 6 | |||
Pilot Travel Centers LLC [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Agreement to Acquire Additional Interest in 2023 [Member] | Forecast [Member] | |||||
Schedule Of Equity Method Investments [Line Items] | |||||
Percentage of additional interest to be acquired | 41.40% |
Equity Method Investments - Sum
Equity Method Investments - Summary of carrying value and fair value of investments (Detail) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Schedule Of Equity Method Investments [Line Items] | ||
Carrying Value | $ 28,714 | $ 17,375 |
Kraft Heinz [Member] | ||
Schedule Of Equity Method Investments [Line Items] | ||
Carrying Value | 12,769 | 13,112 |
Fair Value | 10,853 | 11,683 |
Occidental [Member] | ||
Schedule Of Equity Method Investments [Line Items] | ||
Carrying Value | 11,180 | |
Fair Value | 11,943 | |
Other [Member] | ||
Schedule Of Equity Method Investments [Line Items] | ||
Carrying Value | $ 4,765 | $ 4,263 |
Equity Method Investments - S_2
Equity Method Investments - Summary of earnings and distributions received from equity method investments (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Schedule Of Equity Method Investments [Line Items] | ||||
Equity in Earnings | $ 441 | $ 377 | $ 1,048 | $ 775 |
Distributions Received | 225 | 186 | 622 | 1,428 |
Kraft Heinz [Member] | ||||
Schedule Of Equity Method Investments [Line Items] | ||||
Equity in Earnings | 114 | 194 | 391 | 337 |
Distributions Received | 131 | 131 | 391 | 391 |
Other [Member] | ||||
Schedule Of Equity Method Investments [Line Items] | ||||
Equity in Earnings | 327 | 183 | 657 | 438 |
Distributions Received | $ 94 | $ 55 | $ 231 | $ 1,037 |
Equity method investments - Una
Equity method investments - Unaudited financial information (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | 9 Months Ended | ||||||||
Sep. 30, 2022 | Jun. 30, 2022 | Sep. 30, 2021 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Sep. 24, 2022 | Dec. 31, 2021 | Dec. 25, 2021 | |
Schedule Of Equity Method Investments [Line Items] | |||||||||||
Assets | $ 902,296 | $ 902,296 | $ 958,784 | ||||||||
Sales/ Total revenues and other income | 76,934 | $ 70,583 | 223,924 | $ 204,296 | |||||||
The Kraft Heinz Company [Member] | |||||||||||
Schedule Of Equity Method Investments [Line Items] | |||||||||||
Assets | $ 89,992 | $ 93,394 | |||||||||
Liabilities | $ 41,649 | $ 43,942 | |||||||||
Sales/ Total revenues and other income | 6,505 | 6,324 | 19,104 | 19,333 | |||||||
Net earnings (loss) attributable to common shareholders | $ 432 | $ 733 | $ 1,473 | $ 1,269 | |||||||
Occidental Petroleum Corporation [Member] | |||||||||||
Schedule Of Equity Method Investments [Line Items] | |||||||||||
Assets | $ 74,221 | $ 74,221 | 75,036 | ||||||||
Liabilities | 46,391 | 46,391 | $ 54,709 | ||||||||
Sales/ Total revenues and other income | 10,735 | $ 6,010 | 19,268 | $ 11,489 | |||||||
Net earnings (loss) attributable to common shareholders | $ 3,555 | $ (97) | $ 8,231 | $ (443) |
Investment and derivative con_3
Investment and derivative contract gains/losses (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Investments Debt And Equity Securities [Abstract] | ||||
Equity securities - Change in unrealized investment gains (losses) during the period on securities held at the end of the period | $ (12,902) | $ 4,759 | $ (80,496) | $ 36,163 |
Equity securities - Investment gains (losses) on securities sold during the period | (165) | 75 | (1,085) | 889 |
Equity securities - Investment gains (losses), total | (13,067) | 4,834 | (81,581) | 37,052 |
Fixed maturity securities - Gross realized gains | 6 | 24 | 18 | 59 |
Fixed maturity securities - Gross realized losses | (433) | (7) | (509) | (20) |
Other | (6) | (17) | 144 | |
Investment gains (losses) | (13,500) | 4,851 | (82,089) | 37,235 |
Derivative contract gains (losses) | 35 | 70 | (273) | 780 |
Investment and derivative contract gains (losses) | $ (13,465) | $ 4,921 | $ (82,362) | $ 38,015 |
Investment and derivative con_4
Investment and derivative contract gains/losses - Narrative (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Sales of equity securities | $ 17,343 | $ 11,975 | ||
Taxable gains (losses) on sales of equity securities | $ 3 | $ 941 | (660) | $ 2,900 |
Aggregate Notional value | 1,600 | 1,600 | ||
Maximum [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Aggregate fair value of liability | $ 1 | $ 1 |
Loans and finance receivables_2
Loans and finance receivables (Detail) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Dec. 31, 2020 |
Receivables [Abstract] | ||||
Loans and finance receivables before allowances and discounts | $ 23,442 | $ 22,065 | ||
Allowances for credit losses | (785) | (765) | $ (744) | $ (712) |
Unamortized acquisition discounts and points | (563) | (549) | ||
Loans and finance receivables | $ 22,094 | $ 20,751 |
Loans and finance receivables -
Loans and finance receivables - Schedule of reconciliation of allowance for credit losses on loans and finance receivables (Detail) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Allowance for Credit Loss [Abstract] | ||
Balance at beginning of year | $ 765 | $ 712 |
Provision for credit losses | 45 | 65 |
Charge-offs, net of recoveries | (25) | (33) |
Balance at September 30 | $ 785 | $ 744 |
Loans and finance receivables_3
Loans and finance receivables - Narrative (Detail) - USD ($) | 9 Months Ended | |
Sep. 30, 2022 | Dec. 31, 2021 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Aggregated carrying value | $ 23,442,000,000 | $ 22,065,000,000 |
Term Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Aggregated carrying value | 1,700,000,000 | 1,900,000,000 |
Seritage Growth Properties [Member] | Term Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Aggregated carrying value | 1,270,000,000 | $ 1,440,000,000 |
Term loan facility | $ 2,000,000,000 | |
Loan expiration date | Jul. 31, 2023 | |
Extended loan maturity date | Jul. 31, 2025 | |
Maximum principal loan balance to extend loan maturity period | $ 800,000,000 | |
Manufactured and Site-built Home Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Percent of loan balances considered to be current as to payment status | 97% |
Loans and finance receivables_4
Loans and finance receivables - Summary of performing and non-performing home loans before discounts and allowances by year of loan origination (Detail) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and financing receivables by origination year, Total | $ 23,442 | $ 22,065 |
Manufactured Housing Loan Balances [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and financing receivables by origination year, 2022 | 4,272 | |
Loans and financing receivables by origination year, 2021 | 3,703 | |
Loans and financing receivables by origination year, 2020 | 2,892 | |
Loans and financing receivables by origination year, 2019 | 2,045 | |
Loans and financing receivables by origination year, 2018 | 1,551 | |
Loans and financing receivables by origination year, Prior | 7,247 | |
Loans and financing receivables by origination year, Total | 21,710 | |
Performing [Member] | Manufactured Housing Loan Balances [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and financing receivables by origination year, 2022 | 4,268 | |
Loans and financing receivables by origination year, 2021 | 3,696 | |
Loans and financing receivables by origination year, 2020 | 2,883 | |
Loans and financing receivables by origination year, 2019 | 2,037 | |
Loans and financing receivables by origination year, 2018 | 1,544 | |
Loans and financing receivables by origination year, Prior | 7,205 | |
Loans and financing receivables by origination year, Total | 21,633 | |
Non-Performing [Member] | Manufactured Housing Loan Balances [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and financing receivables by origination year, 2022 | 4 | |
Loans and financing receivables by origination year, 2021 | 7 | |
Loans and financing receivables by origination year, 2020 | 9 | |
Loans and financing receivables by origination year, 2019 | 8 | |
Loans and financing receivables by origination year, 2018 | 7 | |
Loans and financing receivables by origination year, Prior | 42 | |
Loans and financing receivables by origination year, Total | $ 77 |
Other receivables (Detail)
Other receivables (Detail) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Insurance and Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Insurance premiums receivable | $ 17,815 | $ 15,050 |
Reinsurance recoverables | 4,793 | 4,900 |
Trade receivables | 14,448 | 12,971 |
Other | 4,051 | 3,146 |
Allowances for credit losses | (724) | (679) |
Other receivables | 40,383 | 35,388 |
Railroad, Utilities and Energy [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Trade receivables | 4,362 | 3,678 |
Other | 765 | 650 |
Allowances for credit losses | (142) | (151) |
Receivables | $ 4,985 | $ 4,177 |
Other receivables - Narrative (
Other receivables - Narrative (Detail) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Receivables [Abstract] | ||
Provisions for credit losses on receivables | $ 328 | $ 335 |
Charge-offs, net of recoveries | $ 284 | $ 279 |
Inventories (Detail)
Inventories (Detail) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Inventory Disclosure [Abstract] | ||
Raw materials | $ 6,473 | $ 5,743 |
Work in process and other | 3,750 | 3,192 |
Finished manufactured goods | 5,776 | 4,530 |
Goods acquired for resale | 9,103 | 7,489 |
Total inventory | $ 25,102 | $ 20,954 |
Property, plant and equipment (
Property, plant and equipment (Detail) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Insurance and Other [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | $ 45,129 | $ 44,773 |
Property, plant and equipment, accumulated depreciation | (24,751) | (23,939) |
Total property, plant and equipment, net | 20,378 | 20,834 |
Insurance and Other [Member] | Land, buildings and improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 14,089 | 14,070 |
Insurance and Other [Member] | Machinery and equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 26,072 | 26,063 |
Insurance and Other [Member] | Furniture, fixtures and other [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 4,968 | 4,640 |
Railroad [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 84,099 | 80,692 |
Property, plant and equipment, accumulated depreciation | (17,530) | (14,978) |
Total property, plant and equipment, net | 66,569 | 65,714 |
Railroad [Member] | Land, track structure and other roadway [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 66,744 | 65,843 |
Railroad [Member] | Locomotives, freight cars and other equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 15,989 | 13,822 |
Railroad [Member] | Construction in progress [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 1,366 | 1,027 |
Utilities and Energy [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 128,188 | 125,537 |
Property, plant and equipment, accumulated depreciation | (37,285) | (35,721) |
Total property, plant and equipment, net | 90,903 | 89,816 |
Utilities and Energy [Member] | Utility generation, transmission and distribution systems [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 90,756 | 90,223 |
Utilities and Energy [Member] | Interstate natural gas pipeline assets [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 17,882 | 17,423 |
Utilities and Energy [Member] | Independent power plants and other assets [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 14,352 | 13,695 |
Utilities and Energy [Member] | Construction in progress [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 5,198 | 4,196 |
Railroad, Utilities and Energy [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property, plant and equipment, net | $ 157,472 | $ 155,530 |
Property, plant and equipment -
Property, plant and equipment - Depreciation expense (Detail) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Property, Plant and Equipment [Line Items] | ||
Depreciation expense | $ 6,336 | $ 6,210 |
Insurance and Other [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Depreciation expense | 1,690 | 1,725 |
Railroad, Utilities and Energy [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Depreciation expense | $ 4,646 | $ 4,485 |
Equipment held for lease (Detai
Equipment held for lease (Detail) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Property Subject to or Available for Operating Lease [Line Items] | ||
Equipment held for lease, gross | $ 24,765 | $ 23,735 |
Equipment held for lease, accumulated depreciation | (9,626) | (8,817) |
Equipment held for lease, net | 15,139 | 14,918 |
Railcars [Member] | ||
Property Subject to or Available for Operating Lease [Line Items] | ||
Equipment held for lease, gross | 9,556 | 9,448 |
Aircraft [Member] | ||
Property Subject to or Available for Operating Lease [Line Items] | ||
Equipment held for lease, gross | 10,089 | 9,234 |
Other [Member] | ||
Property Subject to or Available for Operating Lease [Line Items] | ||
Equipment held for lease, gross | $ 5,120 | $ 5,053 |
Equipment held for lease - Narr
Equipment held for lease - Narrative (Detail) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Leases [Abstract] | ||
Depreciation expense for equipment held for lease | $ 900 | $ 861 |
Equipment held for lease - Summ
Equipment held for lease - Summary of fixed and variable operating lease revenues (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Operating Leases Lease Income [Abstract] | ||||
Fixed lease revenue | $ 1,344 | $ 1,151 | $ 3,796 | $ 3,318 |
Variable lease revenue | 615 | 414 | 1,722 | 1,018 |
Total | $ 1,959 | $ 1,565 | $ 5,518 | $ 4,336 |
Goodwill and other intangible_3
Goodwill and other intangible assets - Goodwill (Detail) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2022 | Dec. 31, 2021 | |||
Goodwill And Intangible Assets Disclosure [Abstract] | ||||
Balance at beginning of year | $ 73,875 | [1] | $ 73,734 | |
Business acquisitions | 78 | 353 | ||
Other, including foreign currency translation | (618) | (212) | ||
Balance at end of period | [1] | $ 73,335 | $ 73,875 | |
[1] Net of accumulated goodwill impairments of $ 11.0 billion as of September 30, 2022 and December 31, 2021. |
Goodwill and other intangible_4
Goodwill and other intangible assets - Goodwill (Parenthetical) (Detail) - USD ($) $ in Billions | Sep. 30, 2022 | Dec. 31, 2021 |
Goodwill And Intangible Assets Disclosure [Abstract] | ||
Accumulated goodwill impairments | $ 11 | $ 11 |
Goodwill and other intangible_5
Goodwill and other intangible assets - Intangible assets (Detail) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Insurance and Other [Member] | ||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | $ 40,732 | $ 40,664 |
Accumulated amortization | 12,994 | 12,178 |
Net carrying value | 27,738 | 28,486 |
Railroad, Utilities and Energy [Member] | ||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 1,693 | 1,693 |
Accumulated amortization | 603 | 542 |
Net carrying value | 1,090 | 1,151 |
Trademarks and trade names [Member] | Insurance and Other [Member] | ||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 5,158 | 5,176 |
Accumulated amortization | 816 | 802 |
Net carrying value | 4,342 | 4,374 |
Customer relationships [Member] | Insurance and Other [Member] | ||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 27,337 | 27,335 |
Accumulated amortization | 6,957 | 6,450 |
Net carrying value | 20,380 | 20,885 |
Customer relationships [Member] | Railroad, Utilities and Energy [Member] | ||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 678 | 678 |
Accumulated amortization | 421 | 396 |
Net carrying value | 257 | 282 |
Other intangible assets [Member] | Insurance and Other [Member] | ||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 3,280 | 3,390 |
Accumulated amortization | 1,480 | 1,442 |
Net carrying value | 1,800 | 1,948 |
Trademarks, Trade Names and Other [Member] | Railroad, Utilities and Energy [Member] | ||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 1,015 | 1,015 |
Accumulated amortization | 182 | 146 |
Net carrying value | 833 | 869 |
Patents and technology [Member] | Insurance and Other [Member] | ||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 4,957 | 4,763 |
Accumulated amortization | 3,741 | 3,484 |
Net carrying value | $ 1,216 | $ 1,279 |
Goodwill and other intangible_6
Goodwill and other intangible assets - Intangible assets - Narrative (Detail) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |||
Intangible asset amortization expense | $ 905 | $ 942 | |
Intangible assets with indefinite lives, excluding goodwill | $ 18,400 | $ 18,500 |
Unpaid losses and loss adjust_3
Unpaid losses and loss adjustment expenses - Reconciliation of changes in claim liabilities (Detail) - Property and Casualty Insurance and Reinsurance, Excluding Retroactive Reinsurance [Member] - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Liability for Claims and Claims Adjustment Expense [Line Items] | ||
Gross liabilities at beginning of year | $ 86,664 | $ 79,854 |
Reinsurance recoverable on unpaid losses at beginning of year | (2,960) | (2,912) |
Net liabilities at beginning of year | 83,704 | 76,942 |
Incurred losses and loss adjustment expenses, current accident year | 44,472 | 38,447 |
Incurred losses and loss adjustment expenses, prior accident years | (2,141) | (2,151) |
Total incurred losses and loss adjustment expenses | 42,331 | 36,296 |
Paid losses and loss adjustment expenses, current accident year | (17,543) | (15,277) |
Paid losses and loss adjustment expenses, prior accident years | (18,564) | (15,076) |
Total paid losses and loss adjustment expenses | (36,107) | (30,353) |
Foreign currency effect | (1,044) | (119) |
Net liabilities at end of period | 88,884 | 82,766 |
Reinsurance recoverable on unpaid losses at end of period | 2,758 | 2,988 |
Gross liabilities at end of period | $ 91,642 | $ 85,754 |
Unpaid losses and loss adjust_4
Unpaid losses and loss adjustment expenses - Narrative (Detail) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Winter Storm Uri, Hurricane Ida [Member] | Europe [Member] | ||
Liability for Claims and Claims Adjustment Expense [Line Items] | ||
Loss from catastrophe events | $ 1,500 | |
Hurricane Ian [Member] | Australia and South Africa [Member] | ||
Liability for Claims and Claims Adjustment Expense [Line Items] | ||
Loss from catastrophe events | $ 3,400 | |
Property and Casualty Insurance and Reinsurance, Excluding Retroactive Reinsurance [Member] | ||
Liability for Claims and Claims Adjustment Expense [Line Items] | ||
Incurred losses and loss adjustment expenses, prior accident years | (2,141) | (2,151) |
Incurred losses and loss adjustment expenses, current accident year | $ 44,472 | $ 38,447 |
Prior years' losses incurred as a percentage of net liabilities | 2.60% | 2.80% |
Property and Casualty Insurance and Reinsurance, Excluding Retroactive Reinsurance [Member] | Primary Insurance [Member] | ||
Liability for Claims and Claims Adjustment Expense [Line Items] | ||
Incurred losses and loss adjustment expenses, prior accident years | $ (734) | $ (1,600) |
Property and Casualty Insurance and Reinsurance, Excluding Retroactive Reinsurance [Member] | Property and Casualty Reinsurance [Member] | ||
Liability for Claims and Claims Adjustment Expense [Line Items] | ||
Incurred losses and loss adjustment expenses, prior accident years | (1,400) | (564) |
Property and Casualty Insurance and Reinsurance, Excluding Retroactive Reinsurance [Member] | Significant catastrophe Events [Member] | ||
Liability for Claims and Claims Adjustment Expense [Line Items] | ||
Incurred losses and loss adjustment expenses, current accident year | $ 4,000 | 2,700 |
Minimum losses per event each accident year | $ 100 |
Retroactive reinsurance contr_3
Retroactive reinsurance contracts - Reconciliation of changes in claim liabilities and deferred charges (Detail) - Retroactive Reinsurance [Member] - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Liability for Claims and Claims Adjustment Expense [Line Items] | ||
Incurred losses and loss adjustment expenses, prior years' contracts | $ 626 | $ 700 |
Total incurred losses and loss adjustment expenses | 626 | 782 |
Unpaid Losses and Loss Adjustment Expenses [Member] | ||
Liability for Claims and Claims Adjustment Expense [Line Items] | ||
Unpaid losses and loss adjustment expenses, beginning of year | 38,256 | 40,966 |
Incurred losses and loss adjustment expenses, current accident year events | 82 | |
Incurred losses and loss adjustment expenses, prior years' contracts | (23) | (9) |
Total incurred losses and loss adjustment expenses | (23) | 73 |
Paid losses and loss adjustment expenses | (1,567) | (1,318) |
Unpaid losses and loss adjustment expenses, end of year | 36,666 | 39,721 |
Deferred Charges Reinsurance Assumed [Member] | ||
Liability for Claims and Claims Adjustment Expense [Line Items] | ||
Deferred charges reinsurance assumed, beginning of year | (10,639) | (12,441) |
Incurred losses and loss adjustment expenses, prior years' contracts | 649 | 709 |
Total incurred losses and loss adjustment expenses | 649 | 709 |
Deferred charges reinsurance assumed, end of year | $ (9,990) | $ (11,732) |
Retroactive reinsurance contr_4
Retroactive reinsurance contracts - Narrative (Detail) - Retroactive Reinsurance [Member] - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Effects Of Reinsurance [Line Items] | |||
Incurred losses and loss adjustment expenses, prior accident years | $ 626 | $ 700 | |
NICO [Member] | AIG [Member] | |||
Effects Of Reinsurance [Line Items] | |||
Unpaid losses and loss adjustment expenses under retroactive reinsurance contracts | 14,800 | $ 15,800 | |
Deferred charges - retroactive reinsurance | $ 4,140 | $ 4,450 |
Notes payable and other borro_3
Notes payable and other borrowings (Detail) € in Millions, £ in Millions, $ in Millions, ¥ in Billions | 9 Months Ended | ||||
Sep. 30, 2022 USD ($) | Sep. 30, 2022 EUR (€) | Sep. 30, 2022 GBP (£) | Sep. 30, 2022 JPY (¥) | Dec. 31, 2021 USD ($) | |
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | € 8,150 | £ 1,750 | ¥ 914 | ||
Insurance and Other [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | $ 41,535 | $ 39,272 | |||
Insurance and Other [Member] | Berkshire Hathaway Inc. (Parent) [Member] | U.S. Dollar Denominated [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | $ 6,227 | 6,820 | |||
Weighted average interest rate, percentage | 3.30% | 3.30% | 3.30% | 3.30% | |
Insurance and Other [Member] | Berkshire Hathaway Inc. (Parent) [Member] | U.S. Dollar Denominated [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2023 | ||||
Insurance and Other [Member] | Berkshire Hathaway Inc. (Parent) [Member] | U.S. Dollar Denominated [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2047 | ||||
Insurance and Other [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Euro Denominated [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | $ 6,722 | 7,792 | |||
Weighted average interest rate, percentage | 1% | 1% | 1% | 1% | |
Insurance and Other [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Euro Denominated [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2023 | ||||
Insurance and Other [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Euro Denominated [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2041 | ||||
Insurance and Other [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Japanese Yen Denominated [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | $ 6,289 | 6,797 | |||
Weighted average interest rate, percentage | 0.60% | 0.60% | 0.60% | 0.60% | |
Insurance and Other [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Japanese Yen Denominated [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2023 | ||||
Insurance and Other [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Japanese Yen Denominated [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2060 | ||||
Insurance and Other [Member] | Subsidiaries [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | $ 4,328 | 4,438 | |||
Short-term debt | $ 374 | 342 | |||
Weighted average interest rate, percentage | 4.10% | 4.10% | 4.10% | 4.10% | |
Short-term borrowings, weighted average interest rate | 4.70% | 4.70% | 4.70% | 4.70% | |
Insurance and Other [Member] | Subsidiaries [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2022 | ||||
Insurance and Other [Member] | Subsidiaries [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2045 | ||||
Insurance and Other [Member] | Subsidiaries [Member] | U.S. Dollar Denominated [Member] | Berkshire Hathaway Finance Corporation [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | $ 14,456 | 10,758 | |||
Weighted average interest rate, percentage | 3.60% | 3.60% | 3.60% | 3.60% | |
Insurance and Other [Member] | Subsidiaries [Member] | U.S. Dollar Denominated [Member] | Berkshire Hathaway Finance Corporation [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2027 | ||||
Insurance and Other [Member] | Subsidiaries [Member] | U.S. Dollar Denominated [Member] | Berkshire Hathaway Finance Corporation [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2052 | ||||
Insurance and Other [Member] | Subsidiaries [Member] | Euro Denominated [Member] | Berkshire Hathaway Finance Corporation [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | $ 1,219 | ||||
Weighted average interest rate, percentage | 1.80% | 1.80% | 1.80% | 1.80% | |
Insurance and Other [Member] | Subsidiaries [Member] | Euro Denominated [Member] | Berkshire Hathaway Finance Corporation [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2030 | ||||
Insurance and Other [Member] | Subsidiaries [Member] | Euro Denominated [Member] | Berkshire Hathaway Finance Corporation [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2034 | ||||
Insurance and Other [Member] | Subsidiaries [Member] | Great Britain Pound Denominated [Member] | Berkshire Hathaway Finance Corporation [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | $ 1,920 | 2,325 | |||
Weighted average interest rate, percentage | 2.50% | 2.50% | 2.50% | 2.50% | |
Insurance and Other [Member] | Subsidiaries [Member] | Great Britain Pound Denominated [Member] | Berkshire Hathaway Finance Corporation [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2039 | ||||
Insurance and Other [Member] | Subsidiaries [Member] | Great Britain Pound Denominated [Member] | Berkshire Hathaway Finance Corporation [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2059 | ||||
Railroad, Utilities and Energy [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | $ 74,961 | 74,990 | |||
Railroad, Utilities and Energy [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy [Member] | |||||
Debt Instrument [Line Items] | |||||
Weighted average interest rate, percentage | 4.30% | 4.30% | 4.30% | 4.30% | |
Senior unsecured debt | $ 13,992 | 13,003 | |||
Railroad, Utilities and Energy [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2023 | ||||
Railroad, Utilities and Energy [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2053 | ||||
Railroad, Utilities and Energy [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy Subsidiaries [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | $ 36,226 | 36,759 | |||
Weighted average interest rate, percentage | 4.20% | 4.20% | 4.20% | 4.20% | |
Railroad, Utilities and Energy [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy Subsidiaries [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2022 | ||||
Railroad, Utilities and Energy [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy Subsidiaries [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2064 | ||||
Railroad, Utilities and Energy [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy and Subsidiaries [Member] | |||||
Debt Instrument [Line Items] | |||||
Short-term debt | $ 1,441 | 2,009 | |||
Short-term borrowings, weighted average interest rate | 4.20% | 4.20% | 4.20% | 4.20% | |
Railroad, Utilities and Energy [Member] | Subsidiaries [Member] | Burlington Northern Santa Fe ("BNSF") and subsidiaries [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | $ 23,302 | $ 23,219 | |||
Weighted average interest rate, percentage | 4.50% | 4.50% | 4.50% | 4.50% | |
Railroad, Utilities and Energy [Member] | Subsidiaries [Member] | Burlington Northern Santa Fe ("BNSF") and subsidiaries [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2022 | ||||
Railroad, Utilities and Energy [Member] | Subsidiaries [Member] | Burlington Northern Santa Fe ("BNSF") and subsidiaries [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2097 |
Notes payable and other borro_4
Notes payable and other borrowings - Narrative (Detail) € in Millions, £ in Millions, $ in Millions, ¥ in Billions | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||||||
Jun. 30, 2022 USD ($) | May 31, 2022 USD ($) | Apr. 30, 2022 USD ($) | Jan. 31, 2022 USD ($) | Jan. 31, 2022 JPY (¥) | Sep. 30, 2022 USD ($) | Mar. 31, 2022 USD ($) | Mar. 31, 2022 EUR (€) | Sep. 30, 2021 USD ($) | Sep. 30, 2022 USD ($) | Sep. 30, 2021 USD ($) | Sep. 30, 2022 JPY (¥) | Sep. 30, 2022 EUR (€) | Sep. 30, 2022 GBP (£) | Dec. 31, 2021 USD ($) | |
Debt Instrument [Line Items] | |||||||||||||||
Notes payable and other borrowings | ¥ 914 | € 8,150 | £ 1,750 | ||||||||||||
Senior Notes [Member] | Debt Due 2027 To 2052 [Member] | Berkshire Hathaway Inc. (Parent) [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Principal amount of debt issued | $ 1,100 | ¥ 128.5 | |||||||||||||
Weighted average interest rate, percentage | 0.50% | 0.50% | |||||||||||||
Minimum [Member] | Senior Notes [Member] | Debt Due 2027 To 2052 [Member] | Berkshire Hathaway Inc. (Parent) [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Debt maturity year | 2027 | 2027 | |||||||||||||
Maximum [Member] | Senior Notes [Member] | Debt Due 2027 To 2052 [Member] | Berkshire Hathaway Inc. (Parent) [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Debt maturity year | 2052 | 2052 | |||||||||||||
Insurance and Other [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Notes payable and other borrowings | $ 41,535 | $ 41,535 | $ 39,272 | ||||||||||||
Insurance and Other [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Subsidiaries Excluding Berkshire Hathaway Finance Corporation [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Guarantee obligation | $ 3,700 | $ 3,700 | |||||||||||||
Insurance and Other [Member] | Subsidiaries [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Weighted average interest rate, percentage | 4.10% | 4.10% | 4.10% | 4.10% | 4.10% | ||||||||||
Notes payable and other borrowings | $ 4,328 | $ 4,328 | 4,438 | ||||||||||||
Insurance and Other [Member] | Senior Notes [Member] | Berkshire Hathaway Finance Corporation [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Repayments of borrowings | $ 775 | ||||||||||||||
Insurance and Other [Member] | Senior Notes [Member] | Berkshire Hathaway Inc. (Parent) [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Repayments of borrowings | $ 600 | ||||||||||||||
Insurance and Other [Member] | Senior Notes [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Berkshire Hathaway Finance Corporation [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Gains (loss) attributable to changes in foreign currency exchange rates | 1,200 | $ 264 | $ 3,300 | $ 939 | |||||||||||
Insurance and Other [Member] | Senior Notes [Member] | Debt Due 2027 To 2052 [Member] | Subsidiaries [Member] | Berkshire Hathaway Finance Corporation [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Principal amount of debt issued | $ 4,500 | ||||||||||||||
Weighted average interest rate, percentage | 3.40% | 3.40% | |||||||||||||
Insurance and Other [Member] | Senior Notes [Member] | Debt Due 2030 To 2034 [Member] | Subsidiaries [Member] | Berkshire Hathaway Finance Corporation [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Principal amount of debt issued | $ 1,400 | € 1,250 | |||||||||||||
Weighted average interest rate, percentage | 1.80% | 1.80% | |||||||||||||
Insurance and Other [Member] | Minimum [Member] | Subsidiaries [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Debt maturity year | 2022 | ||||||||||||||
Insurance and Other [Member] | Minimum [Member] | Senior Notes [Member] | Debt Due 2027 To 2052 [Member] | Subsidiaries [Member] | Berkshire Hathaway Finance Corporation [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Debt maturity year | 2027 | 2027 | |||||||||||||
Insurance and Other [Member] | Minimum [Member] | Senior Notes [Member] | Debt Due 2030 To 2034 [Member] | Subsidiaries [Member] | Berkshire Hathaway Finance Corporation [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Debt maturity year | 2030 | 2030 | |||||||||||||
Insurance and Other [Member] | Maximum [Member] | Subsidiaries [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Debt maturity year | 2045 | ||||||||||||||
Insurance and Other [Member] | Maximum [Member] | Senior Notes [Member] | Debt Due 2027 To 2052 [Member] | Subsidiaries [Member] | Berkshire Hathaway Finance Corporation [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Debt maturity year | 2052 | 2052 | |||||||||||||
Insurance and Other [Member] | Maximum [Member] | Senior Notes [Member] | Debt Due 2030 To 2034 [Member] | Subsidiaries [Member] | Berkshire Hathaway Finance Corporation [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Debt maturity year | 2034 | 2034 | |||||||||||||
Railroad, Utilities and Energy [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Notes payable and other borrowings | $ 74,961 | $ 74,961 | $ 74,990 | ||||||||||||
Railroad, Utilities and Energy [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Weighted average interest rate, percentage | 4.30% | 4.30% | 4.30% | 4.30% | 4.30% | ||||||||||
Railroad, Utilities and Energy [Member] | 4.6% Senior Notes Due [Member] | Berkshire Hathaway Energy [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Principal amount of debt issued | $ 1,000 | ||||||||||||||
Debt maturity year | 2053 | ||||||||||||||
Debt instrument, interest rate, stated percentage | 4.60% | ||||||||||||||
Railroad, Utilities and Energy [Member] | Term Debt [Member] | Subsidiaries [Member] | BNSF [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Repayments of borrowings | $ 900 | ||||||||||||||
Railroad, Utilities and Energy [Member] | Variable and Fixed Rate Term Debt [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Principal amount of debt issued | $ 1,300 | ||||||||||||||
Weighted average interest rate, percentage | 3.90% | 3.90% | 3.90% | 3.90% | 3.90% | ||||||||||
Railroad, Utilities and Energy [Member] | Senior Unsecured Debenture [Member] | 4.45% Debentures Due [Member] | Subsidiaries [Member] | BNSF [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Principal amount of debt issued | $ 1,000 | ||||||||||||||
Debt maturity year | 2053 | ||||||||||||||
Debt instrument, interest rate, stated percentage | 4.45% | ||||||||||||||
Railroad, Utilities and Energy [Member] | Minimum [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Debt maturity year | 2023 | ||||||||||||||
Railroad, Utilities and Energy [Member] | Minimum [Member] | Term Debt [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Debt maturity year | 2024 | ||||||||||||||
Railroad, Utilities and Energy [Member] | Maximum [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Debt maturity year | 2053 | ||||||||||||||
Railroad, Utilities and Energy [Member] | Maximum [Member] | Term Debt [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Debt maturity year | 2052 |
Notes payable and other borro_5
Notes payable and other borrowings - Credit agreements - Narrative (Detail) - Line of Credit and Commercial Paper Facilities [Member] - Subsidiaries [Member] $ in Billions | Sep. 30, 2022 USD ($) |
Line of Credit Facility [Line Items] | |
Unused lines of credit available | $ 10.7 |
Berkshire Hathaway Energy and Subsidiaries [Member] | |
Line of Credit Facility [Line Items] | |
Unused lines of credit available | $ 9.2 |
Fair value measurements - Finan
Fair value measurements - Financial assets and liabilities (Detail) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | $ 18,602 | $ 16,434 | |||
Investments in equity securities | 306,167 | [1] | 350,719 | [2] | |
Insurance and Other [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 18,602 | 16,434 | |||
Investments in equity securities | 306,167 | 350,719 | |||
The Kraft Heinz Company [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair Value | 10,853 | 11,683 | |||
U.S. Treasury, U.S. government corporations and agencies [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 8,775 | 3,303 | |||
Foreign governments [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 8,505 | 10,994 | |||
Corporate bonds [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 1,029 | 1,774 | |||
Other [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 293 | 363 | |||
Fair Value, Measurements, Recurring [Member] | Quoted Prices (Level 1) [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in equity securities | 294,094 | 339,225 | |||
Derivative contract assets | [3] | $ 68 | $ 6 | ||
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Other | Other | |||
Derivative contract liabilities | [3] | $ 2 | $ 2 | ||
Derivative Liability, Statement of Financial Position [Extensible Enumeration] | Accounts payable, accruals and other liabilities | Accounts payable, accruals and other liabilities | |||
Fair Value, Measurements, Recurring [Member] | Quoted Prices (Level 1) [Member] | The Kraft Heinz Company [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair Value | $ 11,683 | ||||
Fair Value, Measurements, Recurring [Member] | Quoted Prices (Level 1) [Member] | The Kraft Heinz Company and Occidental Petroleum Corporation [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair Value | $ 22,796 | ||||
Fair Value, Measurements, Recurring [Member] | Quoted Prices (Level 1) [Member] | U.S. Treasury, U.S. government corporations and agencies [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 8,740 | 3,261 | |||
Fair Value, Measurements, Recurring [Member] | Quoted Prices (Level 1) [Member] | Foreign governments [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 8,207 | 10,286 | |||
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in equity securities | 7 | 8 | |||
Loans and finance receivables | 1,744 | 2,178 | |||
Derivative contract assets | [3] | $ 593 | $ 230 | ||
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Other | Other | |||
Derivative contract liabilities | [3] | $ 133 | $ 150 | ||
Derivative Liability, Statement of Financial Position [Extensible Enumeration] | Accounts payable, accruals and other liabilities | Accounts payable, accruals and other liabilities | |||
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Insurance and Other [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Notes payable and other borrowings | $ 36,314 | $ 42,292 | |||
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Railroad, Utilities and Energy [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Notes payable and other borrowings | 66,991 | 87,065 | |||
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | U.S. Treasury, U.S. government corporations and agencies [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 35 | 42 | |||
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Foreign governments [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 298 | 708 | |||
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Corporate bonds [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 1,029 | 1,774 | |||
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Other [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 293 | 363 | |||
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in equity securities | 12,066 | 11,486 | |||
Loans and finance receivables | 20,915 | 19,996 | |||
Derivative contract assets | [3] | $ 70 | $ 93 | ||
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Other | Other | |||
Derivative contract liabilities | [3] | $ 126 | $ 224 | ||
Derivative Liability, Statement of Financial Position [Extensible Enumeration] | Accounts payable, accruals and other liabilities | Accounts payable, accruals and other liabilities | |||
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Insurance and Other [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Notes payable and other borrowings | $ 48 | $ 47 | |||
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in equity securities | 306,167 | 350,719 | |||
Loans and finance receivables | 22,094 | 20,751 | |||
Derivative contract assets | [3] | $ 731 | $ 329 | ||
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Other | Other | |||
Derivative contract liabilities | [3] | $ 261 | $ 376 | ||
Derivative Liability, Statement of Financial Position [Extensible Enumeration] | Accounts payable, accruals and other liabilities | Accounts payable, accruals and other liabilities | |||
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | Insurance and Other [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Notes payable and other borrowings | $ 41,535 | $ 39,272 | |||
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | Railroad, Utilities and Energy [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Notes payable and other borrowings | 74,961 | 74,990 | |||
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | The Kraft Heinz Company [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair Value | 13,112 | ||||
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | The Kraft Heinz Company and Occidental Petroleum Corporation [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair Value | 23,949 | ||||
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | U.S. Treasury, U.S. government corporations and agencies [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 8,775 | 3,303 | |||
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | Foreign governments [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 8,505 | 10,994 | |||
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | Corporate bonds [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 1,029 | 1,774 | |||
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | Other [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 293 | 363 | |||
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in equity securities | 306,167 | 350,719 | |||
Loans and finance receivables | 22,659 | 22,174 | |||
Derivative contract assets | [3] | $ 731 | $ 329 | ||
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Other | Other | |||
Derivative contract liabilities | [3] | $ 261 | $ 376 | ||
Derivative Liability, Statement of Financial Position [Extensible Enumeration] | Accounts payable, accruals and other liabilities | Accounts payable, accruals and other liabilities | |||
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | Insurance and Other [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Notes payable and other borrowings | $ 36,362 | $ 42,339 | |||
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | Railroad, Utilities and Energy [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Notes payable and other borrowings | 66,991 | 87,065 | |||
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | The Kraft Heinz Company [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair Value | 11,683 | ||||
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | The Kraft Heinz Company and Occidental Petroleum Corporation [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair Value | 22,796 | ||||
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | U.S. Treasury, U.S. government corporations and agencies [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 8,775 | 3,303 | |||
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | Foreign governments [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 8,505 | 10,994 | |||
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | Corporate bonds [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 1,029 | 1,774 | |||
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | Other [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | $ 293 | $ 363 | |||
[1] Approximately 73 % of the aggregate fair value was concentrated in five companies (American Express Company – $ 20.5 billion; Apple Inc. – $ 126.5 billion; Bank of America Corporation – $ 31.2 billion; The Coca-Cola Company – $ 22.4 billion and Chevron Corporation – $ 24.4 billion). Approximately 73 % of the aggregate fair value was concentrated in four companies (American Express Company – $ 24.8 billion; Apple Inc. – $ 161.2 billion; Bank of America Corporation – $ 46.0 billion and The Coca-Cola Company – $ 23.7 billion). Assets are included in other assets and liabilities are included in accounts payable, accruals and other liabilities. |
Fair value measurements - Signi
Fair value measurements - Significant unobservable inputs (Detail) - Significant Unobservable Inputs (Level 3) [Member] - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Equity Index Put Option Contract Liabilities [Member] | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Derivative contract liabilities - Beginning Balance | $ (1,065) | |
Derivative contract liabilities - Gains included in earnings | 780 | |
Derivative contract liabilities - Acquisitions, dispositions and settlements | (1) | |
Derivative contract liabilities - Ending Balance | (286) | |
Equity Securities [Member] | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Beginning Balance | $ 11,480 | 8,978 |
Gains included in earnings | 581 | 1,713 |
Acquisitions, dispositions and settlements | 1,100 | |
Ending Balance | $ 12,061 | $ 11,791 |
Fair value measurements - Other
Fair value measurements - Other information (Detail) $ in Millions | 9 Months Ended | |||
Sep. 30, 2022 USD ($) | Dec. 31, 2021 USD ($) | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Investments in equity securities | $ 306,167 | [1] | $ 350,719 | [2] |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [Member] | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Investments in equity securities | 12,066 | $ 11,486 | ||
Significant Unobservable Inputs (Level 3) [Member] | Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member] | Discounted Cash Flow [Member] | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Investments in equity securities | 9,956 | |||
Significant Unobservable Inputs (Level 3) [Member] | Common Stock Warrants [Member] | Fair Value, Measurements, Recurring [Member] | Discounted Cash Flow [Member] | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Investments in equity securities | $ 2,105 | |||
Significant Unobservable Inputs (Level 3) [Member] | Measurement Input, Expected Term | Weighted Average [Member] | Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member] | Discounted Cash Flow [Member] | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Unobservable inputs, term | 7 years | |||
Significant Unobservable Inputs (Level 3) [Member] | Measurement Input, Expected Term | Weighted Average [Member] | Common Stock Warrants [Member] | Fair Value, Measurements, Recurring [Member] | Discounted Cash Flow [Member] | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Unobservable inputs, term | 7 years | |||
Significant Unobservable Inputs (Level 3) [Member] | Discount for Transferability Restrictions and Subordination [Member] | Weighted Average [Member] | Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member] | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Unobservable inputs | 0.0372 | |||
Significant Unobservable Inputs (Level 3) [Member] | Measurement Input, Option Volatility | Weighted Average [Member] | Common Stock Warrants [Member] | Fair Value, Measurements, Recurring [Member] | Warrant Pricing Model [Member] | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Unobservable inputs | 0.39 | |||
[1] Approximately 73 % of the aggregate fair value was concentrated in five companies (American Express Company – $ 20.5 billion; Apple Inc. – $ 126.5 billion; Bank of America Corporation – $ 31.2 billion; The Coca-Cola Company – $ 22.4 billion and Chevron Corporation – $ 24.4 billion). Approximately 73 % of the aggregate fair value was concentrated in four companies (American Express Company – $ 24.8 billion; Apple Inc. – $ 161.2 billion; Bank of America Corporation – $ 46.0 billion and The Coca-Cola Company – $ 23.7 billion). |
Common stock - Narrative (Detai
Common stock - Narrative (Detail) | 9 Months Ended | |
Sep. 30, 2022 USD ($) Vote shares | Dec. 31, 2021 shares | |
Class of Stock [Line Items] | ||
Preferred Stock, shares authorized | 1,000,000 | |
Preferred Stock, shares issued | 0 | |
Economic equivalent of Class B share to Class A share | 0.0667% | |
Common Stock Repurchase Program [Member] | ||
Class of Stock [Line Items] | ||
Shares repurchase, authorization description | Berkshire’s common stock repurchase program permits Berkshire to repurchase its Class A and Class B shares any time that Warren Buffett, Berkshire’s Chairman of the Board and Chief Executive Officer, and Charlie Munger, Vice Chairman of the Board, believe that the repurchase price is below Berkshire’s intrinsic value, conservatively determined. | |
Minimum cash, cash equivalents and U.S. Treasury Bills threshold after repurchase of common stock shares, amount | $ | $ 30,000,000,000 | |
Class A [Member] | ||
Class of Stock [Line Items] | ||
Number of votes entitled per share, number | Vote | 1 | |
Shares outstanding | 598,202 | 617,113 |
Class B [Member] | ||
Class of Stock [Line Items] | ||
Number of votes entitled per share, number | Vote | 0.0001 | |
Number of shares of Class B stock obtainable from converting one Class A share | 1,500 | |
Shares outstanding | 1,301,763,870 | 1,290,474,503 |
Equivalent Class A [Member] | ||
Class of Stock [Line Items] | ||
Shares outstanding | 1,466,045 | 1,477,429 |
Common stock (Detail)
Common stock (Detail) | 9 Months Ended |
Sep. 30, 2022 shares | |
Class A [Member] | |
Class of Stock [Line Items] | |
Shares issued, beginning balance | 665,901 |
Treasury shares, beginning balance | (48,788) |
Shares outstanding, beginning balance | 617,113 |
Conversions of Class A to Class B common stock | (12,093) |
Conversions of Class A to Class B common stock, Outstanding | (12,093) |
Treasury stock acquired | (6,818) |
Shares issued, ending balance | 653,808 |
Treasury shares, ending balance | (55,606) |
Shares outstanding, ending balance | 598,202 |
Class B [Member] | |
Class of Stock [Line Items] | |
Shares issued, beginning balance | 1,488,292,852 |
Treasury shares, beginning balance | (197,818,349) |
Shares outstanding, beginning balance | 1,290,474,503 |
Conversions of Class A to Class B common stock | 18,139,500 |
Conversions of Class A to Class B common stock, Outstanding | 18,139,500 |
Treasury stock acquired | (6,850,133) |
Shares issued, ending balance | 1,506,432,352 |
Treasury shares, ending balance | (204,668,482) |
Shares outstanding, ending balance | 1,301,763,870 |
Common stock (Parenthetical) (D
Common stock (Parenthetical) (Detail) | Sep. 30, 2022 $ / shares shares |
Class A [Member] | |
Class of Stock [Line Items] | |
Common Stock, par value per share | $ / shares | $ 5 |
Common Stock, shares authorized | shares | 1,650,000 |
Class B [Member] | |
Class of Stock [Line Items] | |
Common Stock, par value per share | $ / shares | $ 0.0033 |
Common Stock, shares authorized | shares | 3,225,000,000 |
Income taxes - Narrative (Detai
Income taxes - Narrative (Detail) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Income Tax Disclosure [Abstract] | ||||
Effective income tax rate | 37.10% | 14.70% | 23.50% | 18.80% |
Accumulated other comprehensi_3
Accumulated other comprehensive income (Detail) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | $ 506,199 | |
Other comprehensive income, net | (4,207) | $ (591) |
Ending Balance | 455,430 | |
Unrealized appreciation of fixed maturity securities, net [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | 369 | 536 |
Other comprehensive income, net | (767) | (126) |
Ending Balance | (398) | 410 |
Foreign currency translation [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | (4,092) | (3,082) |
Other comprehensive income, net | (3,676) | (619) |
Ending Balance | (7,768) | (3,701) |
Defined benefit pension plans [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | (347) | (1,645) |
Other comprehensive income, net | 47 | 112 |
Ending Balance | (300) | (1,533) |
Other AOCI transactions [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | 43 | (52) |
Other comprehensive income, net | 189 | 42 |
Ending Balance | 232 | (10) |
Accumulated other comprehensive income [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | (4,027) | (4,243) |
Ending Balance | $ (8,234) | $ (4,834) |
Supplemental cash flow inform_3
Supplemental cash flow information (Detail) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Supplemental Cash Flow Information [Line Items] | ||
Cash paid during the period for income taxes | $ 3,474 | $ 4,002 |
Insurance and Other [Member] | ||
Supplemental Cash Flow Information [Line Items] | ||
Cash paid during the period for interest | 917 | 1,040 |
Railroad, Utilities and Energy [Member] | ||
Supplemental Cash Flow Information [Line Items] | ||
Cash paid during the period for interest | $ 2,323 | $ 2,335 |
Contingencies and Commitments -
Contingencies and Commitments - Narrative (Detail) - USD ($) $ in Millions | 1 Months Ended | 9 Months Ended | ||
Mar. 20, 2022 | Jun. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2021 | |
Business Acquisition [Line Items] | ||||
Total assets | $ 902,296 | $ 958,784 | ||
Excess consideration paid for acquiring noncontrolling Interest | $ 362 | |||
Alleghany Corporation [Member] | ||||
Business Acquisition [Line Items] | ||||
Business acquisition, cash consideration | $ 11,600 | |||
Business acquisition, effective date of acquisition | Oct. 19, 2022 | |||
Business acquisition, agreement date | Mar. 20, 2022 | |||
Total assets | $ 31,200 | |||
Total liabilities | $ 23,400 | |||
Greg Abel | Berkshire Hathaway Energy [Member] | ||||
Business Acquisition [Line Items] | ||||
Acquisition of outstanding shares, value | $ 870 |
Revenue from contracts with cus
Revenue from contracts with customers disaggregated by reportable segment and source of revenue (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | $ 53,306 | $ 49,014 | $ 155,665 | $ 141,747 |
Other revenues | 23,628 | 21,569 | 68,259 | 62,549 |
Total revenues | 76,934 | 70,583 | 223,924 | 204,296 |
Industrial and Commercial Products [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 6,196 | 5,643 | 18,367 | 16,691 |
Building Products [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 5,928 | 5,005 | 17,317 | 14,518 |
Consumer Products [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 4,753 | 4,758 | 15,355 | 13,525 |
Grocery and Convenience Store Distribution [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 8,315 | 7,933 | 24,000 | 23,104 |
Food and Beverage Distribution [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 4,946 | 4,478 | 14,510 | 12,838 |
Auto Sales [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 2,686 | 2,423 | 7,888 | 7,485 |
Other Retail and Wholesale Distribution [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 4,992 | 4,655 | 14,972 | 13,776 |
Service [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 9,585 | 8,981 | 27,897 | 25,762 |
Electricity and Natural Gas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 5,905 | 5,138 | 15,359 | 14,048 |
Manufacturing Businesses [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 17,957 | 16,505 | 54,128 | 47,890 |
Other revenues | 1,012 | 951 | 2,962 | 2,821 |
Total revenues | 18,969 | 17,456 | 57,090 | 50,711 |
Manufacturing Businesses [Member] | Industrial and Commercial Products [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 6,145 | 5,600 | 18,219 | 16,549 |
Manufacturing Businesses [Member] | Building Products [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 5,928 | 5,005 | 17,317 | 14,518 |
Manufacturing Businesses [Member] | Consumer Products [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 4,753 | 4,758 | 15,355 | 13,525 |
Manufacturing Businesses [Member] | Other Retail and Wholesale Distribution [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 803 | 742 | 2,343 | 2,199 |
Manufacturing Businesses [Member] | Service [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 328 | 400 | 894 | 1,099 |
McLane [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 13,538 | 12,586 | 39,249 | 36,451 |
Other revenues | 32 | 26 | 97 | 78 |
Total revenues | 13,570 | 12,612 | 39,346 | 36,529 |
McLane [Member] | Grocery and Convenience Store Distribution [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 8,315 | 7,933 | 24,000 | 23,104 |
McLane [Member] | Food and Beverage Distribution [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 4,946 | 4,478 | 14,510 | 12,838 |
McLane [Member] | Service [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 277 | 175 | 739 | 509 |
Service and Retailing [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 7,932 | 7,452 | 23,755 | 22,264 |
Other revenues | 1,609 | 1,202 | 4,470 | 3,287 |
Total revenues | 9,541 | 8,654 | 28,225 | 25,551 |
Service and Retailing [Member] | Industrial and Commercial Products [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 51 | 43 | 148 | 142 |
Service and Retailing [Member] | Auto Sales [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 2,686 | 2,423 | 7,888 | 7,485 |
Service and Retailing [Member] | Other Retail and Wholesale Distribution [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 4,189 | 3,913 | 12,629 | 11,577 |
Service and Retailing [Member] | Service [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 1,006 | 1,073 | 3,090 | 3,060 |
BNSF [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 6,646 | 5,747 | 19,173 | 16,875 |
Other revenues | 17 | 14 | 46 | 42 |
Total revenues | 6,663 | 5,761 | 19,219 | 16,917 |
BNSF [Member] | Service [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 6,646 | 5,747 | 19,173 | 16,875 |
Berkshire Hathaway Energy [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 7,233 | 6,724 | 19,360 | 18,267 |
Other revenues | 294 | 289 | 658 | 755 |
Total revenues | 7,527 | 7,013 | 20,018 | 19,022 |
Berkshire Hathaway Energy [Member] | Service [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 1,328 | 1,586 | 4,001 | 4,219 |
Berkshire Hathaway Energy [Member] | Electricity and Natural Gas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 5,905 | 5,138 | 15,359 | 14,048 |
Insurance, Corporate and Other [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Other revenues | 20,664 | 19,087 | 60,026 | 55,566 |
Total revenues | $ 20,664 | $ 19,087 | $ 60,026 | $ 55,566 |
Revenue from contracts with c_2
Revenue from contracts with customers transaction price allocated to significant unsatisfied remaining performance obligations and timing of when performance obligations expected to be satisfied (Detail) $ in Millions | Sep. 30, 2022 USD ($) |
Electricity and Natural Gas [Member] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Transaction price allocated to remaining performance obligations | $ 25,205 |
Electricity and Natural Gas [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Transaction price allocated to remaining performance obligations | $ 3,619 |
Performance obligations expected to be satisfied, period | 1 year |
Electricity and Natural Gas [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Transaction price allocated to remaining performance obligations | $ 21,586 |
Performance obligations expected to be satisfied, period | |
Other Sales and Service Contracts [Member] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Transaction price allocated to remaining performance obligations | $ 4,627 |
Other Sales and Service Contracts [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Transaction price allocated to remaining performance obligations | $ 1,588 |
Performance obligations expected to be satisfied, period | 1 year |
Other Sales and Service Contracts [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Transaction price allocated to remaining performance obligations | $ 3,039 |
Performance obligations expected to be satisfied, period |
Revenue from contracts with c_3
Revenue from contracts with customers transaction price allocated to significant unsatisfied remaining performance obligations and timing of when performance obligations expected to be satisfied (Detail 1) $ in Millions | Sep. 30, 2022 USD ($) |
Electricity and Natural Gas [Member] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Transaction price allocated to remaining performance obligations | $ 25,205 |
Other Sales and Service Contracts [Member] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Transaction price allocated to remaining performance obligations | $ 4,627 |
Business segment data - Revenue
Business segment data - Revenues (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Segment Reporting Information [Line Items] | ||||
Total revenues | $ 76,934 | $ 70,583 | $ 223,924 | $ 204,296 |
BNSF [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenues | 6,663 | 5,761 | 19,219 | 16,917 |
Berkshire Hathaway Energy [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenues | 7,527 | 7,013 | 20,018 | 19,022 |
Manufacturing Businesses [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenues | 18,969 | 17,456 | 57,090 | 50,711 |
McLane [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenues | 13,570 | 12,612 | 39,346 | 36,529 |
Service and Retailing [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenues | 9,541 | 8,654 | 28,225 | 25,551 |
Operating Businesses [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenues | 76,853 | 70,656 | 223,891 | 204,512 |
Operating Businesses [Member] | Insurance Group [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Interest, dividend and other investment income | 1,683 | 1,339 | 5,331 | 4,212 |
Total revenues | 20,493 | 19,066 | 59,720 | 55,526 |
Operating Businesses [Member] | Insurance Group [Member] | GEICO [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Premiums earned | 9,808 | 9,604 | 29,169 | 28,073 |
Operating Businesses [Member] | Insurance Group [Member] | Berkshire Hathaway Reinsurance Group [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Premiums earned | 5,517 | 5,159 | 15,304 | 14,868 |
Operating Businesses [Member] | Insurance Group [Member] | Berkshire Hathaway Primary Group [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Premiums earned | 3,485 | 2,964 | 9,916 | 8,373 |
Operating Businesses [Member] | BNSF [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenues | 6,693 | 5,790 | 19,301 | 17,000 |
Operating Businesses [Member] | Berkshire Hathaway Energy [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenues | 7,531 | 7,013 | 20,032 | 19,022 |
Operating Businesses [Member] | Manufacturing Businesses [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenues | 19,000 | 17,496 | 57,193 | 50,821 |
Operating Businesses [Member] | McLane [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenues | 13,569 | 12,612 | 39,346 | 36,529 |
Operating Businesses [Member] | Service and Retailing [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenues | 9,567 | 8,679 | 28,299 | 25,614 |
Corporate, Eliminations and Other [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenues | $ 81 | $ (73) | $ 33 | $ (216) |
Business segment data - Earning
Business segment data - Earnings (loss) before income taxes (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Segment Reporting Information [Line Items] | ||||
Investment and derivative contract gains (losses) | $ (13,465) | $ 4,921 | $ (82,362) | $ 38,015 |
Equity method investments | 441 | 377 | 1,048 | 775 |
Earnings (loss) before income taxes | (4,117) | 12,484 | (52,787) | 62,733 |
Operating Businesses [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (loss) before income taxes from operating businesses | 7,930 | 7,268 | 25,910 | 24,088 |
Operating Businesses [Member] | Insurance Group [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (loss) before income taxes from operating businesses | 528 | 317 | 4,964 | 4,616 |
Operating Businesses [Member] | Insurance Group [Member] | Interest, Dividend and Other Investment Income [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (loss) before income taxes from operating businesses | 1,678 | 1,337 | 5,322 | 4,205 |
Operating Businesses [Member] | Insurance Group [Member] | GEICO [Member] | Insurance Premiums Earned [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (loss) before income taxes from operating businesses | (759) | (289) | (1,424) | 1,360 |
Operating Businesses [Member] | Insurance Group [Member] | Berkshire Hathaway Reinsurance Group [Member] | Insurance Premiums Earned [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (loss) before income taxes from operating businesses | (110) | (708) | 1,013 | (1,298) |
Operating Businesses [Member] | Insurance Group [Member] | Berkshire Hathaway Primary Group [Member] | Insurance Premiums Earned [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (loss) before income taxes from operating businesses | (281) | (23) | 53 | 349 |
Operating Businesses [Member] | BNSF [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (loss) before income taxes from operating businesses | 1,884 | 2,029 | 5,844 | 5,667 |
Operating Businesses [Member] | Berkshire Hathaway Energy [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (loss) before income taxes from operating businesses | 1,321 | 1,375 | 2,561 | 2,797 |
Operating Businesses [Member] | Manufacturing Businesses [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (loss) before income taxes from operating businesses | 2,883 | 2,445 | 8,735 | 7,595 |
Operating Businesses [Member] | McLane [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (loss) before income taxes from operating businesses | 112 | (8) | 270 | 179 |
Operating Businesses [Member] | Service and Retailing [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (loss) before income taxes from operating businesses | 1,202 | 1,110 | 3,536 | 3,234 |
Segment Reconciling Items [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Investment and derivative contract gains (losses) | (13,465) | 4,921 | (82,362) | 38,015 |
Interest expense, not allocated to segments | (99) | (128) | (303) | (386) |
Equity method investments | 441 | 377 | 1,048 | 775 |
Corporate, Eliminations and Other [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (loss) before income taxes from operating businesses | $ 1,076 | $ 46 | $ 2,920 | $ 241 |