Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2016 | Oct. 27, 2016 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | BRKA | |
Entity Registrant Name | BERKSHIRE HATHAWAY INC. | |
Entity Central Index Key | 1,067,983 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Class A [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 784,669 | |
Class B [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 1,289,055,322 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 | ||
ASSETS | ||||
Cash and cash equivalents | $ 84,835 | $ 71,730 | ||
Investments in fixed maturity securities | 24,647 | 26,027 | ||
Investments in equity securities | 102,535 | [1] | 111,822 | [2] |
Inventories | 15,763 | 11,916 | ||
Goodwill | 79,392 | 62,708 | ||
Total assets | 604,038 | 552,257 | ||
LIABILITIES | ||||
Income taxes, principally deferred | 73,570 | 63,126 | ||
Total liabilities | 331,423 | 293,630 | ||
Shareholders' equity: | ||||
Common stock | 8 | 8 | ||
Capital in excess of par value | 35,730 | 35,620 | ||
Accumulated other comprehensive income | 29,798 | 33,982 | ||
Retained earnings | 205,491 | 187,703 | ||
Treasury stock, at cost | (1,763) | (1,763) | ||
Berkshire Hathaway shareholders' equity | 269,264 | 255,550 | ||
Noncontrolling interests | 3,351 | 3,077 | ||
Total shareholders' equity | 272,615 | 258,627 | ||
Total liabilities and shareholders' equity | 604,038 | 552,257 | ||
Insurance and Other [Member] | ||||
ASSETS | ||||
Cash and cash equivalents | 68,269 | 61,181 | ||
Investments in fixed maturity securities | 24,613 | 25,988 | ||
Investments in equity securities | 100,757 | 110,212 | ||
Other investments | 15,415 | 15,998 | ||
Investments in The Kraft Heinz Company (Fair Value: September 30, 2016 - $29,130; December 31, 2015 - $32,042) | 15,711 | 23,424 | ||
Receivables | 27,544 | 23,303 | ||
Inventories | 15,763 | 11,916 | ||
Property, plant and equipment | 19,326 | 15,540 | ||
Goodwill | 53,832 | 37,188 | ||
Other intangible assets | 35,034 | 9,148 | ||
Deferred charges reinsurance assumed | 7,505 | 7,687 | ||
Other | 8,685 | 6,697 | ||
Total assets | 392,454 | 348,282 | ||
LIABILITIES | ||||
Losses and loss adjustment expenses | 75,469 | 73,144 | ||
Unearned premiums | 15,223 | 13,311 | ||
Life, annuity and health insurance benefits | 15,405 | 14,497 | ||
Other policyholder liabilities | 7,259 | 7,123 | ||
Accounts payable, accruals and other liabilities | 22,426 | 17,879 | ||
Notes payable and other borrowings | 27,514 | 14,599 | ||
Total liabilities | 163,296 | 140,553 | ||
Railroad, Utilities and Energy [Member] | ||||
ASSETS | ||||
Cash and cash equivalents | 3,893 | 3,437 | ||
Property, plant and equipment | 123,005 | 120,279 | ||
Goodwill | 24,186 | 24,178 | ||
Regulatory assets | 4,369 | 4,285 | ||
Other | 14,219 | 12,833 | ||
Total assets | 169,672 | 165,012 | ||
LIABILITIES | ||||
Accounts payable, accruals and other liabilities | 11,590 | 11,994 | ||
Regulatory liabilities | 3,094 | 3,033 | ||
Notes payable and other borrowings | 58,811 | 57,739 | ||
Total liabilities | 73,495 | 72,766 | ||
Finance and Financial Products [Member] | ||||
ASSETS | ||||
Cash and cash equivalents | 12,673 | 7,112 | ||
Investments in fixed maturity securities | 34 | 39 | ||
Investments in equity and fixed maturity securities | 336 | 411 | ||
Investments in equity securities | 302 | 372 | ||
Other investments | 2,078 | 5,719 | ||
Loans and finance receivables | 13,213 | 12,772 | ||
Property, plant and equipment and assets held for lease | 9,737 | 9,347 | ||
Goodwill | 1,374 | 1,342 | ||
Other | 2,501 | 2,260 | ||
Total assets | 41,912 | 38,963 | ||
LIABILITIES | ||||
Accounts payable, accruals and other liabilities | 1,616 | 1,398 | ||
Derivative contract liabilities | 3,973 | 3,836 | ||
Notes payable and other borrowings | 15,473 | 11,951 | ||
Total liabilities | $ 21,062 | $ 17,185 | ||
[1] | Approximately 60% of the aggregate fair value was concentrated in the equity securities of four companies (American Express Company - $9.7 billion; Wells Fargo & Company - $22.1 billion; International Business Machines Corporation ("IBM") - $12.9 billion; and The Coca-Cola Company - $16.9 billion). | |||
[2] | Approximately 59% of the aggregate fair value was concentrated in the equity securities of four companies (American Express Company - $10.5 billion; Wells Fargo & Company - $27.2 billion; IBM - $11.2 billion; and The Coca-Cola Company - $17.2 billion). |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Insurance and Other [Member] | ||
Investments in The Kraft Heinz Company, Fair Value | $ 29,130 | $ 32,042 |
Consolidated Statements of Earn
Consolidated Statements of Earnings - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | ||
Revenues: | |||||
Investment gains/losses | $ 3,150 | $ 8,266 | $ 5,643 | $ 8,725 | |
Total revenues | 59,068 | 58,989 | 165,931 | 159,001 | |
Costs and expenses: | |||||
Total costs and expenses | 48,543 | 44,917 | 141,578 | 131,436 | |
Earnings before income taxes | 10,525 | 14,072 | 24,353 | 27,565 | |
Income tax expense | 3,192 | 4,545 | 6,281 | 8,698 | |
Net earnings | 7,333 | 9,527 | 18,072 | 18,867 | |
Less: Earnings attributable to noncontrolling interests | 135 | 99 | 284 | 262 | |
Net earnings attributable to Berkshire Hathaway shareholders | $ 7,198 | $ 9,428 | $ 17,788 | $ 18,605 | |
Class A [Member] | |||||
Net earnings per share attributable to Berkshire Hathaway shareholders: | |||||
Net earnings per share attributable to Berkshire Hathaway shareholders | [1] | $ 4,379 | $ 5,737 | $ 10,822 | $ 11,323 |
Average equivalent Class A Shares outstanding | [1] | 1,643,913 | 1,643,316 | 1,643,716 | 1,643,118 |
Insurance and Other [Member] | |||||
Revenues: | |||||
Insurance premiums earned | $ 11,364 | $ 10,514 | $ 33,287 | $ 30,454 | |
Sales and service revenues | 30,536 | 27,436 | 89,357 | 80,169 | |
Interest, dividend and other investment income | 1,276 | 1,132 | 4,284 | 3,758 | |
Investment gains/losses | 735 | 8,339 | 3,221 | 8,571 | |
Total revenues | 43,911 | 47,421 | 130,149 | 122,952 | |
Costs and expenses: | |||||
Insurance losses and loss adjustment expenses | 7,615 | 6,831 | 22,325 | 19,524 | |
Life, annuity and health insurance benefits | 1,339 | 1,165 | 3,747 | 4,083 | |
Insurance underwriting expenses | 2,001 | 1,875 | 5,948 | 5,505 | |
Cost of sales and services | 24,472 | 22,297 | 71,617 | 65,145 | |
Selling, general and administrative expenses | 3,959 | 3,721 | 11,747 | 10,177 | |
Interest expense | 259 | 88 | 674 | 449 | |
Total costs and expenses | 39,645 | 35,977 | 116,058 | 104,883 | |
Railroad, Utilities and Energy [Member] | |||||
Revenues: | |||||
Total revenues | 10,330 | 10,697 | 28,026 | 30,454 | |
Costs and expenses: | |||||
Cost of sales and operating expenses | 6,763 | 7,018 | 19,421 | 20,985 | |
Interest expense | 681 | 672 | 1,962 | 1,957 | |
Total costs and expenses | 7,444 | 7,690 | 21,383 | 22,942 | |
Finance and Financial Products [Member] | |||||
Revenues: | |||||
Sales and service revenues | 1,588 | 1,379 | 4,557 | 3,984 | |
Interest, dividend and other investment income | 366 | 329 | 1,109 | 1,077 | |
Investment gains/losses | 2,415 | (73) | 2,422 | 154 | |
Derivative gains/losses | 458 | (764) | (332) | 380 | |
Total revenues | 4,827 | 871 | 7,756 | 5,595 | |
Costs and expenses: | |||||
Cost of sales and services | 886 | 736 | 2,529 | 2,134 | |
Selling, general and administrative expenses | 465 | 409 | 1,301 | 1,176 | |
Interest expense | 103 | 105 | 307 | 301 | |
Total costs and expenses | $ 1,454 | $ 1,250 | $ 4,137 | $ 3,611 | |
[1] | Average shares outstanding and net earnings per share are shown on an equivalent Class A common stock basis. Equivalent Class B shares outstanding are 1,500 times the equivalent Class A amount. Net earnings per equivalent Class B share outstanding are one-fifteen-hundredth (1/1,500) of the equivalent Class A amount. |
Consolidated Statements of Ear5
Consolidated Statements of Earnings (Parenthetical) | 9 Months Ended |
Sep. 30, 2016 | |
Class B [Member] | |
Ratio of earnings per Class B share to earnings per Class A share | 0.000667 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Statement of Comprehensive Income [Abstract] | ||||
Net earnings | $ 7,333 | $ 9,527 | $ 18,072 | $ 18,867 |
Other comprehensive income: | ||||
Net change in unrealized appreciation of investments | 1,581 | (8,623) | (1,381) | (12,185) |
Applicable income taxes | (515) | 2,957 | 478 | 4,237 |
Reclassification of investment appreciation in net earnings | (3,088) | (1,586) | (4,904) | (1,781) |
Applicable income taxes | 1,080 | 555 | 1,716 | 623 |
Foreign currency translation | (44) | (716) | (158) | (1,499) |
Applicable income taxes | 9 | (11) | 23 | (30) |
Prior service cost and actuarial gains/losses of defined benefit pension plans | (21) | 247 | 34 | 252 |
Applicable income taxes | 13 | (85) | (6) | (87) |
Other, net | 3 | (4) | (3) | (104) |
Other comprehensive income, net | (982) | (7,266) | (4,201) | (10,574) |
Comprehensive income | 6,351 | 2,261 | 13,871 | 8,293 |
Comprehensive income attributable to noncontrolling interests | 132 | 47 | 267 | 217 |
Comprehensive income attributable to Berkshire Hathaway shareholders | $ 6,219 | $ 2,214 | $ 13,604 | $ 8,076 |
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, 2014 | $ 243,027 | $ 35,581 | $ 42,732 | $ 163,620 | $ (1,763) | $ 2,857 |
Net earnings | 18,867 | 18,605 | 262 | |||
Other comprehensive income, net | (10,574) | (10,529) | (45) | |||
Issuance of common stock | 63 | 63 | ||||
Transactions with noncontrolling interests | (62) | (26) | (36) | |||
Ending Balance at Sep. 30, 2015 | 251,321 | 35,618 | 32,203 | 182,225 | (1,763) | 3,038 |
Beginning Balance at Dec. 31, 2015 | 258,627 | 35,628 | 33,982 | 187,703 | (1,763) | 3,077 |
Net earnings | 18,072 | 17,788 | 284 | |||
Other comprehensive income, net | (4,201) | (4,184) | (17) | |||
Issuance of common stock | 80 | 80 | ||||
Transactions with noncontrolling interests | 37 | 30 | 7 | |||
Ending Balance at Sep. 30, 2016 | $ 272,615 | $ 35,738 | $ 29,798 | $ 205,491 | $ (1,763) | $ 3,351 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Cash flows from operating activities: | ||
Net earnings | $ 18,072 | $ 18,867 |
Adjustments to reconcile net earnings to operating cash flows: | ||
Investment gains/losses | (5,643) | (8,725) |
Depreciation and amortization | 6,605 | 5,801 |
Other | 27 | 620 |
Changes in operating assets and liabilities: | ||
Losses and loss adjustment expenses | 2,615 | 1,195 |
Deferred charges reinsurance assumed | 182 | 369 |
Unearned premiums | 1,906 | 2,311 |
Receivables and originated loans | (3,445) | (3,021) |
Derivative contract assets and liabilities | 137 | (296) |
Income taxes | 3,601 | 5,954 |
Other | 1,114 | 1,080 |
Net cash flows from operating activities | 25,171 | 24,155 |
Cash flows from investing activities: | ||
Purchases of fixed maturity securities | (6,009) | (5,365) |
Purchases of equity securities | (5,185) | (8,809) |
Purchase of Kraft Heinz Company common stock | (5,258) | |
Sales of fixed maturity securities | 1,121 | 791 |
Redemptions and maturities of fixed maturity securities | 6,640 | 4,421 |
Sales and redemptions of equity securities | 19,989 | 5,755 |
Purchases of loans and finance receivables | (224) | (144) |
Collections of loans and finance receivables | 271 | 345 |
Acquisitions of businesses, net of cash acquired | (30,815) | (4,802) |
Purchases of property, plant and equipment | (9,429) | (11,803) |
Other | (611) | 21 |
Net cash flows from investing activities | (24,252) | (24,848) |
Cash flows from financing activities: | ||
Changes in short term borrowings, net | 888 | (508) |
Acquisitions of noncontrolling interests | (3) | (71) |
Other financing activities | (28) | (181) |
Net cash flows from financing activities | 12,196 | 3,798 |
Effects of foreign currency exchange rate changes | (10) | (114) |
Increase in cash and cash equivalents | 13,105 | 2,991 |
Cash and cash equivalents: | ||
Cash and cash equivalents at beginning of year | 71,730 | 63,269 |
Cash and cash equivalents at end of third quarter | 84,835 | 66,260 |
Insurance and Other [Member] | ||
Adjustments to reconcile net earnings to operating cash flows: | ||
Investment gains/losses | (3,221) | (8,571) |
Cash flows from financing activities: | ||
Proceeds from borrowings | 9,385 | 3,271 |
Repayments of borrowings | (1,921) | (1,875) |
Cash and cash equivalents: | ||
Cash and cash equivalents at beginning of year | 61,181 | 57,974 |
Cash and cash equivalents at end of third quarter | 68,269 | 56,166 |
Railroad, Utilities and Energy [Member] | ||
Cash flows from financing activities: | ||
Proceeds from borrowings | 2,234 | 4,468 |
Repayments of borrowings | (1,879) | (1,050) |
Cash and cash equivalents: | ||
Cash and cash equivalents at beginning of year | 3,437 | 3,001 |
Cash and cash equivalents at end of third quarter | 3,893 | 4,691 |
Finance and Financial Products [Member] | ||
Adjustments to reconcile net earnings to operating cash flows: | ||
Investment gains/losses | (2,422) | (154) |
Cash flows from financing activities: | ||
Proceeds from borrowings | 4,740 | 998 |
Repayments of borrowings | (1,220) | (1,254) |
Cash and cash equivalents: | ||
Cash and cash equivalents at beginning of year | 7,112 | 2,294 |
Cash and cash equivalents at end of third quarter | $ 12,673 | $ 5,403 |
General
General | 9 Months Ended |
Sep. 30, 2016 | |
Accounting Policies [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 any 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. Variations in the amount and timing of investment gains/losses can cause significant variations in periodic net earnings. Investment gains/losses are recorded when investments are disposed or are other-than-temporarily impaired. In addition, changes in the fair values of liabilities associated with derivative contracts can cause significant variations in periodic net earnings. |
New accounting pronouncements
New accounting pronouncements | 9 Months Ended |
Sep. 30, 2016 | |
Accounting Changes and Error Corrections [Abstract] | |
New accounting pronouncements | Note 2. New accounting pronouncements In May 2014, the FASB issued ASU 2014-09 “Revenue from Contracts with Customers.” ASU 2014-09 applies to contracts with customers, excluding, most notably, insurance and leasing contracts. ASU 2014-09 prescribes a framework in accounting for revenues from contracts within its scope, including (a) identifying the contract, (b) identifying the performance obligations under the contract, (c) determining the transaction price, (d) allocating the transaction price to the identified performance obligations and (e) recognizing revenues as the identified performance obligations are satisfied. ASU 2014-09 also prescribes additional financial statement presentations and disclosures. We currently expect to adopt ASU 2014-09 as of January 1, 2018, under the modified retrospective method where the cumulative effect is recognized at the date of initial application. Our evaluation of ASU 2014-09 is ongoing and not complete. The FASB has issued and may issue in the future, interpretative guidance, which may cause our evaluation to change. While we anticipate some changes to revenue recognition for certain customer contracts, we do not currently believe ASU 2014-09 will have a material effect on our Consolidated Financial Statements. In May 2015, the FASB issued ASU 2015-09 “Financial Services—Insurance—Disclosures about Short-Duration Contracts,” which requires additional disclosures in annual and interim reporting periods by insurance entities regarding liabilities for unpaid claims and claim adjustment expenses, and changes in assumptions or methodologies for calculating such liabilities. ASU 2015-09 is effective for annual periods beginning after December 15, 2015 and interim periods beginning after December 15, 2016. We continue to evaluate the effect adopting this standard will have on the disclosures in our Consolidated Financial Statements. In January 2016, the FASB issued ASU 2016-01 “Financial Instruments—Recognition and Measurement of Financial Assets and Financial Liabilities.” ASU 2016-01 generally requires that equity investments (excluding equity method investments) be measured at fair value with changes in fair value recognized in net income. Under existing GAAP, changes in fair value of available-for-sale equity investments are recorded in other comprehensive income. Given the current magnitude of our equity investments, the adoption of ASU 2016-01 will likely have a significant impact on the periodic net earnings reported in our Consolidated Statement of Earnings, although it will likely not significantly impact our comprehensive income or shareholders’ equity. ASU 2016-01 is effective for annual and interim periods beginning after December 15, 2017, with the cumulative effect of the adoption made to the balance sheet as of the date of adoption. Thus, the adoption will result in a reclassification of the related accumulated unrealized appreciation currently included in accumulated other comprehensive income to retained earnings, with no impact on Berkshire shareholders’ equity. In February 2016, the FASB issued ASU 2016-02 “Leases.” ASU 2016-02 requires a lessee to recognize in the statement of financial position a liability to make lease payments and a right-of-use asset representing its right to use the underlying asset for the lease term, along with additional qualitative and quantitative disclosures. ASU 2016-02 is effective for annual and interim periods beginning after December 15, 2018, with early adoption permitted. We are currently evaluating the effect this standard will have on our Consolidated Financial Statements. In June 2016, the FASB issued ASU 2016-13 “Financial Instruments—Credit Losses,” which provides for the recognition and measurement at the reporting date of all expected credit losses for financial assets held at amortized cost and available-for-sale debt securities. Currently credit losses are recognized and measured when such losses become probable based on the prevailing facts and circumstances. ASU 2016-13 is effective for reporting periods beginning after December 15, 2019. We are currently evaluating the effect this standard will have on our Consolidated Financial Statements. |
Significant business acquisitio
Significant business acquisitions | 9 Months Ended |
Sep. 30, 2016 | |
Business Combinations [Abstract] | |
Significant business acquisitions | Note 3. Significant business acquisitions Our long-held acquisition strategy is to acquire businesses at sensible prices that have consistent earning power, good returns on equity and able and honest management. On August 8, 2015, Berkshire entered into a definitive agreement with Precision Castparts Corp. (“PCC”) to acquire all outstanding PCC shares of common stock for $235 per share in cash. The acquisition was completed on January 29, 2016. The aggregate consideration paid was approximately $32.7 billion, which included the value of PCC shares we already owned. We funded the acquisition with a combination of existing cash balances and proceeds from a short-term credit facility. PCC is a worldwide, diversified manufacturer of complex metal components and products. It serves the aerospace, power and general industrial markets. PCC is a market leader in manufacturing complex structural investment castings and forged components for aerospace markets, machined airframe components and highly engineered critical fasteners for aerospace applications, and in manufacturing airfoil castings for the aerospace and industrial gas turbine markets. PCC also is a leading producer of titanium and nickel superalloy melted and mill products for the aerospace, chemical processing, oil and gas and pollution control industries, and manufactures extruded seamless pipe, fittings and forgings for power generation and oil and gas applications. In November 2014, Berkshire entered into a definitive agreement with The Procter & Gamble Company (“P&G”) to acquire the Duracell business from P&G. The transaction closed on February 29, 2016. Duracell is a leading manufacturer of high-performance alkaline batteries and is an innovator in renewable power and wireless charging technologies. Pursuant to the agreement, we received a recapitalized Duracell Company in exchange for shares of P&G common stock held by Berkshire subsidiaries which had a fair value of approximately $4.2 billion. Financial results attributable to these business acquisitions are included in our Consolidated Financial Statements beginning on their respective acquisition dates. The acquisition date fair values of certain assets and liabilities, particularly property, plant and equipment and intangible assets, and related estimated useful lives are provisional and are subject to revision as the related valuations are completed. We expect such values will be finalized as of December 31, 2016. Goodwill from these acquisitions is not amortizable for income tax purposes. Preliminary fair values of identified assets acquired and liabilities assumed and residual goodwill of PCC and Duracell at their respective acquisition dates are summarized in the table that follows (in millions). PCC Duracell Cash and cash equivalents $ 250 $ 1,807 Inventories 3,430 326 Property, plant and equipment 2,772 364 Goodwill 15,880 614 Other intangible assets 24,197 2,024 Other assets 1,914 256 Assets acquired $ 48,443 $ 5,391 Accounts payable, accruals and other liabilities $ 2,442 $ 392 Notes payable and other borrowings 5,251 — Income taxes, principally deferred 8,092 760 Liabilities assumed $ 15,785 $ 1,152 Net assets $ 32,658 $ 4,239 The following table sets forth certain unaudited pro forma consolidated earnings data for the first nine months of 2015 as if the acquisitions discussed previously were consummated on the same terms at the beginning of the year preceding their respective acquisition dates (in millions, except per share amount). Pro forma data for the first nine months of 2016 was not materially different from the amounts reflected in the accompanying Consolidated Financial Statements. First Nine Months 2015 Revenues $ 167,315 Net earnings attributable to Berkshire Hathaway shareholders 19,086 Net earnings per equivalent Class A common share attributable to Berkshire Hathaway shareholders 11,615 |
Investments in fixed maturity s
Investments in fixed maturity securities | 9 Months Ended |
Sep. 30, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments in fixed maturity securities | Note 4. Investments in fixed maturity securities Investments in securities with fixed maturities as of September 30, 2016 and December 31, 2015 are summarized below (in millions). Amortized Unrealized Unrealized Fair September 30, 2016 U.S. Treasury, U.S. government corporations and agencies $ 4,549 $ 17 $ (1 ) $ 4,565 States, municipalities and political subdivisions 1,216 64 (1 ) 1,279 Foreign governments 9,454 362 (21 ) 9,795 Corporate bonds 6,996 800 (7 ) 7,789 Mortgage-backed securities 1,068 156 (5 ) 1,219 $ 23,283 $ 1,399 $ (35 ) $ 24,647 December 31, 2015 U.S. Treasury, U.S. government corporations and agencies $ 3,425 $ 10 $ (8 ) $ 3,427 States, municipalities and political subdivisions 1,695 71 (2 ) 1,764 Foreign governments 11,327 226 (85 ) 11,468 Corporate bonds 7,323 632 (29 ) 7,926 Mortgage-backed securities 1,279 168 (5 ) 1,442 $ 25,049 $ 1,107 $ (129 ) $ 26,027 Investments in fixed maturity securities are reflected in our Consolidated Balance Sheets as follows (in millions). September 30, 2016 December 31, 2015 Insurance and other $ 24,613 $ 25,988 Finance and financial products 34 39 $ 24,647 $ 26,027 Investments in foreign government securities include securities issued by national and provincial government entities as well as instruments that are unconditionally guaranteed by such entities. As of September 30, 2016, approximately 92% of foreign government holdings were rated AA or higher by at least one of the major rating agencies. Approximately 80% of foreign government holdings were issued or guaranteed by the United Kingdom, Germany, Australia or Canada. The amortized cost and estimated fair value of securities with fixed maturities at September 30, 2016 are summarized below by contractual maturity dates. Actual maturities may differ from contractual maturities due to early call or prepayment rights held by issuers (in millions). Due in one Due after one year through Due after five years through Due after ten years Mortgage- backed Total Amortized cost $8,007 $10,773 $1,076 $2,359 $1,068 $23,283 Fair value 8,068 11,224 1,177 2,959 1,219 24,647 |
Investments in equity securitie
Investments in equity securities | 9 Months Ended |
Sep. 30, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments in equity securities | Note 5. Investments in equity securities Investments in equity securities as of September 30, 2016 and December 31, 2015 are summarized based on the primary industry of the investee in the table below (in millions). Cost Basis Unrealized Unrealized Fair September 30, 2016 * Banks, insurance and finance $ 19,852 $ 21,695 $ (173 ) $ 41,374 Consumer products 5,149 16,790 — 21,939 Commercial, industrial and other 32,517 7,904 (1,199 ) 39,222 $ 57,518 $ 46,389 $ (1,372 ) $ 102,535 * Approximately 60% of the aggregate fair value was concentrated in the equity securities of four companies (American Express Company – $9.7 billion; Wells Fargo & Company – $22.1 billion; International Business Machines Corporation (“IBM”) – $12.9 billion; and The Coca-Cola Company – $16.9 billion). Cost Basis Unrealized Unrealized Fair December 31, 2015 * Banks, insurance and finance $ 20,026 $ 27,965 $ (21) $ 47,970 Consumer products 6,867 18,022 (1) 24,888 Commercial, industrial and other 35,417 6,785 (3,238) 38,964 $ 62,310 $ 52,772 $ (3,260) $ 111,822 * Approximately 59% of the aggregate fair value was concentrated in the equity securities of four companies (American Express Company – $10.5 billion; Wells Fargo & Company – $27.2 billion; IBM – $11.2 billion; and The Coca-Cola Company – $17.2 billion). As of September 30, 2016 and December 31, 2015, we concluded that the unrealized losses shown in the tables above were temporary. Our conclusions were based on: (a) our ability and intent to hold the securities to recovery; (b) our assessment that the underlying business and financial condition of the issuers was favorable; (c) our opinion that the relative price declines were not significant; and (d) our belief that market prices will increase to and exceed our cost. As of September 30, 2016 and December 31, 2015, unrealized losses on equity securities in a continuous unrealized loss position for more than twelve months were $995 million and $989 million, respectively. Unrealized losses at September 30, 2016 included $941 million related to our investment in IBM common stock of which $855 million had been in a continuous unrealized loss position for more than twelve months. Unrealized losses represented 7% of our cost. IBM continues to be profitable and generate significant cash flows. We currently do not intend to dispose of our IBM common stock and we expect that the fair value of this investment will recover and ultimately exceed our cost. Investments in equity securities are reflected in our Consolidated Balance Sheets as follows (in millions). September 30, December 31, 2015 Insurance and other $ 100,757 $ 110,212 Railroad, utilities and energy * 1,476 1,238 Finance and financial products 302 372 $ 102,535 $ 111,822 * Included in other assets. |
Other investments
Other investments | 9 Months Ended |
Sep. 30, 2016 | |
Investments, All Other Investments [Abstract] | |
Other investments | Note 6. Other investments Other investments include preferred stock of Wm. Wrigley Jr. Company (“Wrigley”), The Dow Chemical Company (“Dow”) and Bank of America Corporation (“BAC”) warrants to purchase common stock of BAC and preferred and common stock of Restaurant Brands International, Inc. (“RBI”). Other investments are classified as available-for-sale and are shown in our Consolidated Balance Sheets as follows (in millions). Cost Fair Value September 30, 2016 December 31, 2015 September 30, 2016 December 31, 2015 Insurance and other $ 9,970 $ 9,970 $ 15,415 $ 15,998 Finance and financial products 1,000 3,052 2,078 5,719 $ 10,970 $ 13,022 $ 17,493 $ 21,717 During 2008, we purchased $2.1 billion of Wrigley preferred stock that was acquired pursuant to a shareholder agreement in conjunction with Mars Incorporated’s acquisition of Wrigley. Pursuant to certain put and call provisions in the shareholder agreement, up to 50% of our original investment was redeemable over a 90-day period that was scheduled to begin on October 6, 2016. On August 8, 2016, we entered into a stock purchase agreement with Mars, under which Mars agreed to acquire all of the Wrigley preferred stock for approximately $4.56 billion, which included a prorated dividend that would have otherwise been payable on October 6, 2016. The transaction was completed on September 27, 2016. We own 3,000,000 shares of Series A Cumulative Convertible Perpetual Preferred Stock of Dow (“Dow Preferred”) with a liquidation value of $1,000 per share. Each share of the Dow Preferred is convertible into 24.201 shares of Dow common stock (equivalent to a conversion price of $41.32 per share). Dow currently has the option to cause some or all of the Dow Preferred to be converted into Dow common stock at the then applicable conversion rate, if the New York Stock Exchange closing price of its common stock exceeds $53.72 per share for any 20 trading days within a period of 30 consecutive trading days ending the day before Dow exercises its option. The Dow Preferred is entitled to dividends at a rate of 8.5% per annum. We own 50,000 shares of 6% Non-Cumulative Perpetual Preferred Stock of BAC (“BAC Preferred”) with a liquidation value of $100,000 per share and warrants to purchase 700,000,000 shares of common stock of BAC (“BAC Warrants”). The BAC Preferred is redeemable at the option of BAC beginning on May 7, 2019 at a redemption price of $105,000 per share (or $5.25 billion in aggregate). The BAC Warrants expire in 2021 and are exercisable for an additional aggregate cost of $5 billion ($7.142857/share). We own Class A 9% Cumulative Compounding Perpetual Preferred Shares of RBI (“RBI Preferred”) having a stated value of $3 billion. RBI, domiciled in Canada, is the ultimate parent company of Burger King and Tim Hortons. The RBI Preferred is entitled to dividends on a cumulative basis of 9% per annum plus an additional amount, if necessary, to produce an after-tax yield to Berkshire as if the dividends were paid by a U.S.-based company. The RBI Preferred is redeemable at the option of RBI beginning on December 12, 2017. If not redeemed prior to December 12, 2024, we can cause RBI to redeem the RBI Preferred. In either case, the redemption price will be 109.9% of the stated value of such shares. |
Investments in The Kraft Heinz
Investments in The Kraft Heinz Company | 9 Months Ended |
Sep. 30, 2016 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Investments in The Kraft Heinz Company | Note 7. Investments in The Kraft Heinz Company On June 7, 2013, Berkshire and an affiliate of the global investment firm 3G Capital (such affiliate, “3G”), each made equity investments in H.J. Heinz Holding Corporation (“Heinz Holding”), which, together with debt financing obtained by Heinz Holding, was used to acquire H. J. Heinz Company (“Heinz”). Berkshire’s initial investments consisted of 425 million shares of Heinz Holding common stock, warrants, which were exercised in June 2015, to acquire approximately 46 million additional shares of common stock at one cent per share, and cumulative compounding preferred stock (“Preferred Stock”) with a liquidation preference of $8 billion. The aggregate cost of our investments was $12.25 billion. 3G also acquired 425 million shares of Heinz Holding common stock for $4.25 billion. On June 7, 2016, our Preferred Stock investment was redeemed for cash of $8.32 billion. Prior to its redemption, the Preferred Stock was entitled to dividends at 9% per annum. On July 1, 2015, Berkshire acquired 262.9 million shares of newly issued common stock of Heinz Holding for $5.26 billion and 3G acquired 237.1 million shares of newly issued common stock for $4.74 billion. Immediately thereafter, Heinz Holding executed a reverse stock split at a rate of 0.443332 of a share for each share. On July 2, 2015, Heinz Holding acquired Kraft Foods Group, Inc. (“Kraft”). Upon completion of the acquisition, Heinz Holding was renamed The Kraft Heinz Company (“Kraft Heinz”). Kraft Heinz is one of the largest manufacturers and marketers of food and beverage products, including condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee, and other grocery products, in the world. Kraft Heinz’s leading iconic brands include Kraft, Heinz, ABC, Capri Sun, Classico, Jell-O, Kool-Aid, Lunchables, Maxwell House, Ore-Ida, Oscar Mayer, Philadelphia, Planters, Plasmon, Quero, Weight Watchers Smart Ones and Velveeta. In connection with Heinz Holding’s acquisition of Kraft, Kraft shareholders received one share of newly issued Heinz Holding common stock for each share of Kraft common stock and a special cash dividend of $16.50 per share. Following the issuance of these additional shares, Berkshire and 3G together owned approximately 51% of the outstanding Kraft Heinz common stock, with Berkshire owning approximately 26.8% and 3G owning 24.2%. We account for our investment in Kraft Heinz common stock on the equity method. Under the equity method, the issuance of shares by an investee is accounted for by the investor as if the investor had sold a proportionate share of its investment. As a result, we recorded a non-cash pre-tax holding gain of approximately $6.8 billion in the third quarter of 2015, representing the excess of the fair value of Kraft Heinz common stock at the date of the merger over our carrying value associated with the reduction in our ownership. A summary of our investments in Kraft Heinz follows (in millions). Carrying Value September 30, 2016 December 31, 2015 Common stock $15,711 $15,714 Preferred Stock — 7,710 $15,711 $23,424 Our equity method earnings on the common stock and dividends earned on the Preferred Stock in the first nine months of 2016 and 2015 were $851 million and $329 million, respectively, and are included in interest, dividend and other investment income in our Consolidated Statements of Earnings. Preferred Stock dividends received in the first nine months of 2016 were $180 million. In 2015, Preferred Stock dividends received were $180 million in the third quarter and $540 million in the first nine months. Summarized consolidated financial information of Kraft Heinz follows (in millions). October 2, 2016 January 3, 2016 Assets $121,080 $122,973 Liabilities 63,212 56,737 Third Quarter First Nine Months 2016 2015 2016 2015 Sales $ 6,267 $ 6,120 $ 19,630 $ 11,214 Net earnings (loss) attributable to common shareholders $ 842 $ (303) $ 2,508 $ (551) |
Income taxes
Income taxes | 9 Months Ended |
Sep. 30, 2016 | |
Income Tax Disclosure [Abstract] | |
Income taxes | Note 8. Income taxes Our consolidated effective income tax rates for the third quarter and first nine months of 2016 were 30.3% and 25.8%, respectively. In 2015, our effective income tax rates were 32.3% for the third quarter and 31.6% for the first nine months. Our effective income tax rate normally reflects benefits from the recurring impact of (a) dividends received deductions applicable to certain investments in equity securities, (b) income production tax credits from wind-powered electricity generation placed in service in the U.S. and (c) lower income tax rates applicable to earnings of certain foreign subsidiaries. As discussed in Notes 3 and 9 to these Consolidated Financial Statements, on February 29, 2016, we exchanged our long-held investment in P&G common stock for the common stock of Duracell. This exchange produced a pre-tax gain of $1.1 billion for financial reporting purposes. The exchange transaction was structured as a tax-free reorganization under the Internal Revenue Code. As a result, no income taxes are currently payable on the excess of the fair value of the business received over the tax basis of the P&G shares exchanged and we recorded a one-time reduction of certain deferred income tax liabilities (approximately $750 million) that were recorded in 2005 in connection with our exchange of The Gillette Company common stock for P&G common stock upon the merger of those two companies. The P&G/Duracell exchange produced a 4.7 percentage point reduction in our consolidated effective income tax rate for the first nine months of 2016. |
Investment gains_losses
Investment gains/losses | 9 Months Ended |
Sep. 30, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment gains/losses | Note 9. Investment gains/losses Investment gains/losses are summarized below (in millions). Third Quarter First Nine Months 2016 2015 2016 2015 Fixed maturity securities— Gross gains from sales and redemptions $ 5 $ 6 $ 44 $ 88 Gross losses from sales and redemptions (24) (44) (41) (128) Equity securities— Gross gains from sales and redemptions 3,173 8,407 5,720 8,855 Gross losses from sales and redemptions (13) (75) (76) (95) Other-than-temporary impairment losses — (26) (63) (26) Other 9 (2) 59 31 $ 3,150 $ 8,266 $ 5,643 $ 8,725 Gains from sales and redemptions of equity securities in 2016 included gains of approximately $2.4 billion from the disposition of our investment in Wrigley preferred stock in the third quarter, and in the first nine months also included $610 million from the redemption of our investment in Kraft Heinz Preferred Stock and a non-cash holding gain of approximately $1.1 billion from the exchange of our P&G common stock in connection with the acquisition of Duracell. The non-cash gain from the P&G/Duracell exchange represented the excess of the fair value of net assets of Duracell over the cost basis of the P&G stock exchanged. Gains from sales and redemptions of equity securities in the third quarter and first nine months of 2015 included a non-cash holding gain of approximately $6.8 billion in connection with our investment in Kraft Heinz common stock. We record investments in equity and fixed maturity securities classified as available-for-sale at fair value and record the difference between fair value and cost in other comprehensive income. Other-than-temporary impairment losses recognized in earnings represent reductions in the cost basis of the investment, but not the fair value. Accordingly, such losses that are included in earnings are generally offset by a credit to other comprehensive income, producing no net effect on shareholders’ equity as of the balance sheet date. |
Inventories
Inventories | 9 Months Ended |
Sep. 30, 2016 | |
Inventory Disclosure [Abstract] | |
Inventories | Note 10. Inventories Inventories are comprised of the following (in millions). September 30, 2016 December 31, 2015 Raw materials $ 2,909 $ 1,852 Work in process and other 2,461 778 Finished manufactured goods 4,287 3,369 Goods acquired for resale 6,106 5,917 $ 15,763 $ 11,916 Inventories at September 30, 2016 included approximately $3.6 billion related to PCC and Duracell. |
Receivables
Receivables | 9 Months Ended |
Sep. 30, 2016 | |
Receivables [Abstract] | |
Receivables | Note 11. Receivables Receivables of insurance and other businesses are comprised of the following (in millions). September 30, 2016 December 31, 2015 Insurance premiums receivable $ 10,226 $ 8,843 Reinsurance recoverable on unpaid losses 3,482 3,307 Trade and other receivables 14,181 11,521 Allowances for uncollectible accounts (345) (368) $ 27,544 $ 23,303 Trade and other receivables at September 30, 2016 included approximately $1.9 billion related to PCC and Duracell. Loans and finance receivables of finance and financial products businesses are summarized as follows (in millions). September 30, 2016 December 31, 2015 Loans and finance receivables before allowances and discounts $ 13,663 $ 13,186 Allowances for uncollectible loans (183) (182) Unamortized acquisition discounts (267) (232) $ 13,213 $ 12,772 Loans and finance receivables are predominantly originated or acquired manufactured housing installment loans. Provisions for loan losses in the first nine months of 2016 and 2015 were $124 million and $119 million, respectively. Loan charge-offs, net of recoveries, in the first nine months of 2016 and 2015 were $123 million and $136 million, respectively. At September 30, 2016, approximately 98% of the loan balances were evaluated collectively for impairment. As a part of the evaluation process, credit quality indicators are reviewed and loans are designated as performing or non-performing. At September 30, 2016, approximately 98% of the loan balances were determined to be performing and approximately 94% of the loan balances were current as to payment status. |
Property, plant and equipment
Property, plant and equipment | 9 Months Ended |
Sep. 30, 2016 | |
Property, Plant and Equipment [Abstract] | |
Property, plant and equipment | Note 12. Property, plant and equipment A summary of property, plant and equipment of our insurance and other businesses follows (in millions). Range of estimated useful life September 30, 2016 December 31, 2015 Land — $ 2,128 $ 1,689 Buildings and improvements 5 – 40 years 8,315 7,329 Machinery and equipment 3 – 25 years 20,103 17,054 Furniture, fixtures and other 2 – 15 years 4,419 3,545 34,965 29,617 Accumulated depreciation (15,639) (14,077) $ 19,326 $ 15,540 Property, plant and equipment at September 30, 2016 included approximately $3.3 billion related to PCC and Duracell. A summary of property, plant and equipment of our railroad and our 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. Range of estimated useful life September 30, 2016 December 31, 2015 Railroad: Land — $ 6,060 $ 6,037 Track structure and other roadway 7 – 100 years 47,586 45,967 Locomotives, freight cars and other equipment 6 – 40 years 11,860 11,320 Construction in progress — 1,064 1,031 66,570 64,355 Accumulated depreciation (5,673) (4,845) $ 60,897 $ 59,510 Utilities and energy: Utility generation, transmission and distribution systems 5 – 80 years $ 70,316 $ 69,248 Interstate natural gas pipeline assets 3 – 80 years 6,866 6,755 Independent power plants and other assets 3 – 30 years 6,056 5,626 Construction in progress — 3,175 2,627 86,413 84,256 Accumulated depreciation (24,305) (23,487) $ 62,108 $ 60,769 Assets held for lease and property, plant and equipment of our finance and financial products businesses are summarized below (in millions). Range of estimated useful life September 30, 2016 December 31, 2015 Assets held for lease 5 – 35 years $ 11,906 $ 11,317 Land — 223 220 Buildings, machinery and other 3 – 50 years 1,289 1,207 13,418 12,744 Accumulated depreciation (3,681) (3,397) $ 9,737 $ 9,347 A summary of depreciation expense follows (in millions). First Nine Months 2016 2015 Insurance and other $ 1,595 $ 1,240 Railroad, utilities and energy 3,459 3,276 Finance and financial products 466 447 $ 5,520 $ 4,963 |
Goodwill and other intangible a
Goodwill and other intangible assets | 9 Months Ended |
Sep. 30, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and other intangible assets | Note 13. Goodwill and other intangible assets A reconciliation of the change in the carrying value of goodwill is as follows (in millions). September 30, 2016 December 31, 2015 Balance at beginning of year $ 62,708 $ 60,714 Acquisitions of businesses 17,016 2,563 Other, including foreign currency translation (332) (569) Balance at end of period $ 79,392 $ 62,708 Other intangible assets are summarized as follows (in millions). September 30, 2016 December 31, 2015 Gross carrying amount Accumulated amortization Gross carrying amount Accumulated amortization Insurance and other $ 41,575 $ 6,541 $ 14,610 $ 5,462 Railroad, utilities and energy 897 279 888 239 $ 42,472 $ 6,820 $ 15,498 $ 5,701 Trademarks and trade names $ 6,049 $ 821 $ 3,041 $ 765 Patents and technology 4,455 2,329 4,252 2,050 Customer relationships 28,851 2,721 5,474 2,131 Other 3,117 949 2,731 755 $ 42,472 $ 6,820 $ 15,498 $ 5,701 Other intangible assets at September 30, 2016 included preliminary fair values of intangible assets of PCC and Duracell of approximately $26.2 billion, which included approximately $17.6 billion in customer relationships and trade names that were preliminarily determined to have indefinite lives. Amortization expense in the first nine months of 2016 and 2015 was $1,085 million and $837 million, respectively. Intangible assets with indefinite lives, excluding intangible assets related to business acquisitions completed in 2016, were approximately $3.0 billion as of September 30, 2016 and December 31, 2015. |
Derivative contracts
Derivative contracts | 9 Months Ended |
Sep. 30, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative contracts | Note 14. Derivative contracts Derivative contracts have been entered into primarily through our finance and financial products and our utilities and energy businesses. During 2016, derivative contracts of our finance and financial products businesses consisted of equity index put option contracts and a credit default contract. A summary of the liabilities and related notional values of these contracts follows (in millions). September 30, 2016 December 31, 2015 Liabilities Notional Value Liabilities Notional Value Equity index put options $ 3,973 $ 27,982 (1) $ 3,552 $ 27,722 (1) Credit default (2) — — 284 7,792 $ 3,973 $ 3,836 (1) Represents the aggregate undiscounted amounts payable assuming that the value of each index is zero at each contract’s expiration date. Certain of these contracts are denominated in foreign currencies. Notional amounts are based on the foreign currency exchange rates as of each balance sheet date. (2) In July 2016, our remaining credit default contract was terminated by mutual agreement with the counterparty. We no longer have any exposure to losses under credit default contracts. The derivative contracts of our finance and financial products businesses are recorded at fair value and the changes in the fair values of such contracts are reported in earnings as derivative gains/losses. We entered into these contracts with the expectation that the premiums received would exceed the amounts ultimately paid to counterparties. A summary of the derivative gains (losses) included in our Consolidated Statements of Earnings follows (in millions). Third Quarter First Nine Months 2016 2015 2016 2015 Equity index put options $ 458 $ (802) $ (421 ) $ 371 Credit default — 38 89 9 $ 458 $ (764) $ (332 ) $ 380 The equity index put option contracts are European style options written between 2004 and 2008 on four major equity indexes. These contracts will expire between June 2018 and January 2026. Future payments, if any, under any given contract will be required if the prevailing index value is below the contract strike price at the expiration date. We received the premiums on these contracts at the inception dates and therefore we have no counterparty credit risk. The aggregate intrinsic value (the undiscounted liability assuming the contracts are settled based on the index values and foreign currency exchange rates as of the balance sheet date) of our equity index put option contracts was approximately $1.6 billion at September 30, 2016 and $1.1 billion at December 31, 2015. However, these contracts may not be unilaterally terminated or fully settled before the expiration dates. Therefore, the ultimate amount of cash basis gains or losses on these contracts will not be determined for several years. The remaining weighted average life of all contracts was approximately 4.2 years at September 30, 2016. A limited number of our equity index put option contracts contain collateral posting requirements with respect to changes in the fair value or intrinsic value of the contracts and/or a downgrade of Berkshire’s credit ratings. As of September 30, 2016, we did not have any collateral posting requirements. If Berkshire’s credit ratings (currently AA from Standard & Poor’s and Aa2 from Moody’s) are downgraded below either A- by Standard & Poor’s or A3 by Moody’s, collateral of up to $1.1 billion could be required to be posted. Our regulated utility subsidiaries are exposed to variations in the prices of fuel required to generate electricity, wholesale electricity purchased and sold and natural gas supplied for customers. Derivative instruments, including forward purchases and sales, futures, swaps and options, are used to manage a portion of these price risks. Derivative contract assets are included in other assets and were $105 million as of September 30, 2016 and $103 million as of December 31, 2015. Derivative contract liabilities are included in accounts payable, accruals and other liabilities and were $198 million as of September 30, 2016 and $237 million as of December 31, 2015. Net derivative contract assets or liabilities that are probable of recovery through rates of our regulated utilities are offset by regulatory liabilities or assets. Unrealized gains or losses on contracts accounted for as cash flow or fair value hedges are recorded in other comprehensive income or in net earnings, as appropriate. |
Supplemental cash flow informat
Supplemental cash flow information | 9 Months Ended |
Sep. 30, 2016 | |
Supplemental Cash Flow Elements [Abstract] | |
Supplemental cash flow information | Note 15. Supplemental cash flow information A summary of supplemental cash flow information is presented in the following table (in millions). First Nine Months 2016 2015 Cash paid during the period for: Income taxes $ 2,237 $ 2,575 Interest: Insurance and other businesses 499 312 Railroad, utilities and energy businesses 2,130 2,043 Finance and financial products businesses 263 274 Non-cash investing and financing activities: Liabilities assumed in connection with business acquisitions 17,319 2,792 Equity securities exchanged in connection with business acquisition 4,239 — |
Notes payable and other borrowi
Notes payable and other borrowings | 9 Months Ended |
Sep. 30, 2016 | |
Debt Disclosure [Abstract] | |
Notes payable and other borrowings | Note 16. 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, 2016. Weighted Average Interest Rate September 30, 2016 December 31, 2015 Insurance and other: Berkshire Hathaway Inc. (“Berkshire”) due 2016-2047 2.2% $ 18,108 $ 9,799 Short-term subsidiary borrowings 2.2% 2,019 1,989 Other subsidiary borrowings due 2016-2044 4.0% 7,387 2,811 $ 27,514 $ 14,599 On January 8, 2016, Berkshire entered into a $10 billion 364-day revolving credit agreement. In connection with the PCC acquisition, Berkshire borrowed $10 billion under the credit agreement. In March 2016, Berkshire issued €2.75 billion in senior unsecured notes consisting of €1.0 billion of 0.50% notes due in 2020, €1.0 billion of 1.30% notes due in 2024 and €750 million of 2.15% notes due in 2028. Berkshire also issued $5.5 billion in senior unsecured notes consisting of $1.0 billion of 2.20% notes due in 2021, $2.0 billion of 2.75% notes due in 2023 and $2.5 billion of 3.125% notes due in 2026. The proceeds from these debt issues were used in the repayment of all outstanding borrowings under the aforementioned credit agreement. In June 2016, the revolving credit agreement was terminated. In August 2016, Berkshire issued $750 million in senior unsecured notes consisting of $500 million of 1.15% notes due in 2018 and $250 million of floating rate notes due in 2018, to replace $750 million of maturing debt. Other subsidiary borrowings at September 30, 2016 included $4.7 billion attributable to PCC. Weighted Average Interest Rate September 30, 2016 December 31, 2015 Railroad, utilities and energy: Berkshire Hathaway Energy Company (“BHE”) and its subsidiaries: BHE senior unsecured debt due 2017-2045 5.1% $ 7,817 $ 7,814 Subsidiary and other debt due 2016-2064 4.7% 28,828 28,188 Burlington Northern Santa Fe (“BNSF”) due 2016-2097 4.8% 22,166 21,737 $ 58,811 $ 57,739 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 debt. These borrowing arrangements generally contain various covenants including, but not limited to, leverage ratios, interest coverage ratios and debt service coverage ratios. BNSF’s borrowings are primarily senior unsecured debentures. In May 2016, BNSF issued $750 million of 3.9% debentures due in 2046. As of September 30, 2016, BNSF and 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. Weighted Average Interest Rate September 30, 2016 December 31, 2015 Finance and financial products: Berkshire Hathaway Finance Corporation (“BHFC”) due 2017-2043 2.5% $ 14,421 $ 10,679 Other subsidiary borrowings due 2016-2036 5.0% 1,052 1,272 $ 15,473 $ 11,951 In March 2016, BHFC issued $3.5 billion of senior notes consisting of $750 million of 1.45% notes due in 2018, $1.0 billion of floating rate notes due in 2018, $1.25 billion of 1.70% notes due in 2019 and $500 million of floating rate notes due in 2019. In August 2016, BHFC issued $1.25 billion of senior notes consisting of $1 billion of 1.30% notes due in 2019 and $250 million of floating rate notes due in 2019, primarily to replace $1 billion of maturing debt. The borrowings of BHFC, a wholly owned finance subsidiary of Berkshire, are fully and unconditionally guaranteed by Berkshire. As of September 30, 2016, our subsidiaries also had unused lines of credit and commercial paper capacity aggregating approximately $8.2 billion to support short-term borrowing programs and provide additional liquidity. Such unused lines of credit included about $4.0 billion related to BHE and its subsidiaries. In addition to BHFC’s borrowings, Berkshire guarantees certain other subsidiary borrowings, which aggregated approximately $3.2 billion at September 30, 2016. 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 present and future payment obligations. |
Fair value measurements
Fair value measurements | 9 Months Ended |
Sep. 30, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair value measurements | Note 17. Fair value measurements Our financial assets and liabilities are summarized below as of September 30, 2016 and December 31, 2015 with fair values shown according to the fair value hierarchy (in millions). The carrying values of cash and cash equivalents, receivables and accounts payable, accruals and other liabilities are considered to be reasonable estimates of their fair values. Carrying Value Fair Value Quoted Prices (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) September 30, 2016 Investments in fixed maturity securities: U.S. Treasury, U.S. government corporations and agencies $ 4,565 $ 4,565 $ 3,318 $ 1,247 $ — States, municipalities and political subdivisions 1,279 1,279 — 1,279 — Foreign governments 9,795 9,795 7,704 2,091 — Corporate bonds 7,789 7,789 — 7,682 107 Mortgage-backed securities 1,219 1,219 — 1,219 — Investments in equity securities 102,535 102,535 102,534 — 1 Investment in Kraft Heinz common stock 15,711 29,130 29,130 — — Other investments 17,493 17,493 376 — 17,117 Loans and finance receivables 13,213 13,650 — 14 13,636 Derivative contract assets (1) 105 105 1 5 99 Derivative contract liabilities: Railroad, utilities and energy (1) 198 198 5 161 32 Finance and financial products: Equity index put options 3,973 3,973 — — 3,973 Notes payable and other borrowings: Insurance and other 27,514 29,119 — 29,119 — Railroad, utilities and energy 58,811 69,130 — 69,130 — Finance and financial products 15,473 16,251 — 15,862 389 December 31, 2015 Investments in fixed maturity securities: U.S. Treasury, U.S. government corporations and agencies $ 3,427 $ 3,427 $ 2,485 $ 942 $ — States, municipalities and political subdivisions 1,764 1,764 — 1,764 — Foreign governments 11,468 11,468 9,188 2,280 — Corporate bonds 7,926 7,926 — 7,826 100 Mortgage-backed securities 1,442 1,442 — 1,442 — Investments in equity securities 111,822 111,822 111,786 35 1 Investment in Kraft Heinz common stock 15,714 23,679 23,679 — — Investment in Kraft Heinz Preferred Stock 7,710 8,363 — — 8,363 Other investments 21,717 21,717 315 — 21,402 Loans and finance receivables 12,772 13,112 — 16 13,096 Derivative contract assets (1) 103 103 — 5 98 Derivative contract liabilities: Railroad, utilities and energy (1) 237 237 13 177 47 Finance and financial products: Equity index put options 3,552 3,552 — — 3,552 Credit default 284 284 — — 284 Notes payable and other borrowings: Insurance and other 14,599 14,773 — 14,773 — Railroad, utilities and energy 57,739 62,471 — 62,471 — Finance and financial products 11,951 12,363 — 11,887 476 (1) Assets are included in other assets and liabilities are included in accounts payable, accruals and other liabilities. The fair values of substantially all of our financial instruments were measured using market or income approaches. Considerable judgment may be required in interpreting market data used to develop the estimates of fair value. Accordingly, the fair values presented are not necessarily indicative of the amounts that could be realized in an actual current market exchange. The use of alternative market assumptions and/or estimation methodologies may have a material effect on the estimated fair value. The hierarchy for measuring fair value consists of Levels 1 through 3, which are described below. Level 1 Level 2 Level 3 Reconciliations of 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 ending September 30, 2016 and 2015 follow (in millions). Investments in fixed maturity securities Investments in equity securities and other investments Net derivative contract liabilities Nine months ending September 30, 2016 Balance at December 31, 2015 $ 100 $ 21,403 $ (3,785 ) Gains (losses) included in: Earnings — 2,409 (221 ) Other comprehensive income 3 (2,233 ) (2 ) Regulatory assets and liabilities — — (12 ) Acquisitions, dispositions and settlements 5 (4,461 ) (81 ) Transfers into/out of Level 3 (1 ) — 195 Balance at September 30, 2016 $ 107 $ 17,118 $ (3,906 ) Nine months ending September 30, 2015 Balance at December 31, 2014 $ 8 $ 21,996 $ (4,759 ) Gains (losses) included in: Earnings — — 467 Other comprehensive income — (1,722 ) (5 ) Regulatory assets and liabilities — — (21 ) Acquisition, dispositions and settlements 103 — (65 ) Transfers into/out of Level 3 — — 3 Balance at September 30, 2015 $ 111 $ 20,274 $ (4,380 ) Gains and losses included in earnings are included as components of investment gains/losses, derivative gains/losses or other revenues, as appropriate and are primarily related to changes in the fair values of derivative contracts and settlement transactions. Gains and losses included in other comprehensive income primarily represent the net change in unrealized appreciation of investments. In the third quarter of 2016, our investment in Wrigley preferred stock was redeemed. Quantitative information as of September 30, 2016, with respect to assets and liabilities measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) follows (in millions). Fair Value Principal Valuation Techniques Unobservable Inputs Weighted Other investments: Preferred stocks $ 11,615 Discounted cash flow Expected duration 6 years Discount for transferability 159 basis points Common stock warrants 5,502 Warrant pricing model Discount for transferability and 7% Net derivative liabilities: Equity index put options 3,973 Option pricing model Volatility 21% Other investments consist of perpetual preferred stocks and common stock warrants that we acquired in private placement transactions. These investments are subject to contractual restrictions on transferability and may contain provisions that prevent us from economically hedging our investments. In applying discounted estimated cash flow techniques in valuing the perpetual preferred stocks, we made assumptions regarding the expected durations of the investments, as the issuers may have the right to redeem or convert these investments. We also made estimates regarding the impact of subordination, as the preferred stocks have a lower priority in liquidation than debt instruments of the issuers. In valuing the common stock warrants, we used a warrant valuation model. While most of the inputs to the model are observable, we are subject to the aforementioned contractual restrictions and we have applied discounts with respect to such restrictions. Increases or decreases to these inputs would result in decreases or increases to the fair values of the investments. Our equity index put option contracts are illiquid and contain contract terms that are not standard in derivatives markets. For example, we are not required to post collateral under most of our contracts and many contracts have relatively long durations. For these and other reasons, we classified these contracts as Level 3. The methods we use to value these contracts are those that we believe market participants would use in determining exchange prices with respect to our contracts. We value equity index put option contracts based on the Black-Scholes option valuation model. Inputs to this model include the index price, contract duration and dividend and interest rates (including a Berkshire non-performance input) which are observable. However, we believe that the valuation of long-duration options using any model is inherently subjective and, given the lack of observable transactions and prices, acceptable values may be subject to wide ranges. Volatility inputs represent our expectations, which consider the remaining duration of each contract and assume that the contracts will remain outstanding until the expiration dates without offsetting transactions occurring in the interim. Increases or decreases in the volatility inputs will produce increases or decreases in the fair values of the liabilities. |
Common stock
Common stock | 9 Months Ended |
Sep. 30, 2016 | |
Equity [Abstract] | |
Common stock | Note 18. Common stock Changes in Berkshire’s issued, treasury and outstanding common stock during the first nine months of 2016 are shown in the table below. Class A, $5 Par Value Class B, $0.0033 Par Value Issued Treasury Outstanding Issued Treasury Outstanding Balance at December 31, 2015 820,102 (11,680) 808,422 1,253,866,598 (1,409,762) 1,252,456,836 Conversions of Class A common stock to Class B common stock and exercises of replacement stock options issued in a business acquisition (22,628) — (22,628 ) 34,899,211 — 34,899,211 Balance at September 30, 2016 797,474 (11,680) 785,794 1,288,765,809 (1,409,762) 1,287,356,047 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 equivalent 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 1,644,031 shares outstanding as of September 30, 2016 and 1,643,393 shares outstanding as of December 31, 2015. In addition to our common stock, 1,000,000 shares of preferred stock are authorized, but none are issued. Berkshire’s Board of Directors (“Berkshire’s Board”) has approved a common stock repurchase program under which Berkshire may repurchase its Class A and Class B shares at prices no higher than a 20% premium over the book value of the shares. Berkshire may repurchase shares in the open market or through privately negotiated transactions. Berkshire’s Board authorization does not specify a maximum number of shares to be repurchased. However, repurchases will not be made if they would reduce Berkshire’s consolidated cash and cash equivalent holdings below $20 billion. The repurchase program does not obligate Berkshire to repurchase any dollar amount or number of Class A or Class B shares and there is no expiration date to the program. |
Accumulated other comprehensive
Accumulated other comprehensive income | 9 Months Ended |
Sep. 30, 2016 | |
Equity [Abstract] | |
Accumulated other comprehensive income | Note 19. Accumulated other comprehensive income A summary of the net changes in after-tax accumulated other comprehensive income attributable to Berkshire Hathaway shareholders and significant amounts reclassified out of accumulated other comprehensive income for the nine months ending September 30, 2016 and 2015 follows (in millions). Unrealized investments Foreign Prior service pension plans Other Accumulated Other Comprehensive income Nine months ending September 30, 2016 Balance at December 31, 2015 $ 38,598 $ (3,856 ) $ (762) $ 2 $ 33,982 Other comprehensive income, net before reclassifications (912) (101 ) (39) (26 ) (1,078 ) Reclassifications from accumulated other comprehensive income (3,188) — 59 23 (3,106 ) Balance at September 30, 2016 $ 34,498 $ (3,957 ) $ (742) $ (1 ) $ 29,798 Reclassifications from other comprehensive income into net earnings: Investment gains/losses $ (4,904) $ — $ — $ — $ (4,904 ) Other — — 79 41 120 Reclassifications before income taxes (4,904) — 79 41 (4,784 ) Applicable income taxes (1,716) — 20 18 (1,678 ) $ (3,188) $ — $ 59 $ 23 $ (3,106 ) Unrealized investments Foreign Prior service pension plans Other Accumulated income Nine months ending September 30, 2015 Balance at December 31, 2014 $ 45,636 $ (1,957) $ (1,039) $ 92 $ 42,732 Other comprehensive income, net before reclassifications (7,958) (1,602) 162 (113 ) (9,511) Reclassifications from accumulated other comprehensive income (1,158) 128 1 11 (1,018) Balance at September 30, 2015 $ 36,520 $ (3,431) $ (876) $ (10 ) $ 32,203 Reclassifications from other comprehensive income into net earnings: Investment gains/losses $ (1,781) $ 197 $ — $ — $ (1,584) Other — — 2 18 20 Reclassifications before income taxes (1,781) 197 2 18 (1,564) Applicable income taxes (623) 69 1 7 (546) $ (1,158) $ 128 1 $ 11 $ (1,018) |
Contingencies and Commitments
Contingencies and Commitments | 9 Months Ended |
Sep. 30, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contingencies and Commitments | Note 20. 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. We own a 50% interest in a joint venture, Berkadia Commercial Mortgage LLC (“Berkadia”), with Leucadia National Corporation (“Leucadia”) owning the other 50% interest. Berkadia is a servicer of commercial real estate loans in the U.S., performing primary, master and special servicing functions for U.S. government agency programs, commercial mortgage-backed securities transactions, banks, insurance companies and other financial institutions. A significant source of funding for Berkadia’s operations is through the issuance of commercial paper. Repayment of the commercial paper is supported by a surety policy issued by a Berkshire insurance subsidiary. Leucadia has agreed to indemnify us for one-half of any losses incurred under the policy. Berkadia’s maximum outstanding balance of commercial paper borrowings is currently limited to $1.5 billion. On September 30, 2016, the aggregate amount of Berkadia commercial paper outstanding was $1.47 billion. In the third quarter of 2016, our wholly-owned subsidiary, National Indemnity Company entered into a definitive agreement to acquire Medical Liability Mutual Insurance Company (“MLMIC”), a writer of medical professional liability insurance domiciled in New York. MLMIC’s assets and policyholders’ surplus determined under statutory accounting principles as of June 30, 2016 were approximately $5.5 billion and $1.9 billion, respectively. The acquisition price will be an amount equal to the sum of: (i) the tangible book value of MLMIC at the closing date (determined under U.S. GAAP); plus (ii) $100 million. The acquisition will involve the conversion of MLMIC from a mutual company to a stock company. The closing of the transaction is subject to various regulatory approvals, customary closing conditions and the approval of the MLMIC policyholders eligible to vote on the proposed demutualization and sale. The transaction is currently expected to be completed in late 2017. |
Business segment data
Business segment data | 9 Months Ended |
Sep. 30, 2016 | |
Segment Reporting [Abstract] | |
Business segment data | Note 21. Business segment data Our operating businesses include a large and diverse group of insurance, finance, manufacturing, service and retailing businesses. Our manufacturing businesses include PCC and Duracell, which were acquired in the first quarter of 2016. Revenues by segment were as follows (in millions). Third Quarter First Nine Months 2016 2015 2016 2015 Operating Businesses: Insurance group: Underwriting: GEICO $ 6,474 $ 5,788 $ 18,771 $ 16,792 General Re 1,389 1,405 4,168 4,397 Berkshire Hathaway Reinsurance Group 1,872 1,892 5,767 5,317 Berkshire Hathaway Primary Group 1,629 1,429 4,581 3,948 Investment income 1,043 1,046 3,428 3,474 Total insurance group 12,407 11,560 36,715 33,928 BNSF 5,167 5,600 14,519 16,571 Berkshire Hathaway Energy 5,198 5,144 13,615 14,018 Manufacturing 12,082 9,181 34,837 27,568 McLane Company 12,271 12,264 36,121 36,200 Service and retailing 6,331 6,151 18,607 16,966 Finance and financial products 1,962 1,725 5,677 5,078 55,418 51,625 160,091 150,329 Reconciliation of segments to consolidated amount: Investment and derivative gains/losses 3,608 7,502 5,311 9,105 Income from Kraft Heinz 225 98 851 329 Eliminations and other (183) (236) (322) (762) $ 59,068 $ 58,989 $ 165,931 $ 159,001 Earnings before income taxes by segment were as follows (in millions). Third Quarter First Nine Months 2016 2015 2016 2015 Operating Businesses: Insurance group: Underwriting: GEICO $ 138 $ 258 $ 552 $ 471 General Re 100 (2) 144 58 Berkshire Hathaway Reinsurance Group (19) 199 86 247 Berkshire Hathaway Primary Group 190 188 485 566 Investment income 1,029 1,045 3,406 3,466 Total insurance group 1,438 1,688 4,673 4,808 BNSF 1,633 1,839 4,129 5,047 Berkshire Hathaway Energy 1,246 1,153 2,481 2,398 Manufacturing 1,981 1,259 5,150 3,857 McLane Company 106 106 371 384 Service and retailing 449 378 1,230 1,260 Finance and financial products 517 486 1,578 1,480 7,370 6,909 19,612 19,234 Reconciliation of segments to consolidated amount: Investment and derivative gains/losses 3,608 7,502 5,311 9,105 Income from Kraft Heinz 225 98 851 329 Interest expense, not allocated to segments (201) (83) (518) (391) Eliminations and other (477) (354) (903) (712) $ 10,525 $ 14,072 $ 24,353 $ 27,565 |
New accounting pronouncements (
New accounting pronouncements (Policies) | 9 Months Ended |
Sep. 30, 2016 | |
Accounting Changes and Error Corrections [Abstract] | |
New accounting pronouncements | In May 2014, the FASB issued ASU 2014-09 “Revenue from Contracts with Customers.” ASU 2014-09 applies to contracts with customers, excluding, most notably, insurance and leasing contracts. ASU 2014-09 prescribes a framework in accounting for revenues from contracts within its scope, including (a) identifying the contract, (b) identifying the performance obligations under the contract, (c) determining the transaction price, (d) allocating the transaction price to the identified performance obligations and (e) recognizing revenues as the identified performance obligations are satisfied. ASU 2014-09 also prescribes additional financial statement presentations and disclosures. We currently expect to adopt ASU 2014-09 as of January 1, 2018, under the modified retrospective method where the cumulative effect is recognized at the date of initial application. Our evaluation of ASU 2014-09 is ongoing and not complete. The FASB has issued and may issue in the future, interpretative guidance, which may cause our evaluation to change. While we anticipate some changes to revenue recognition for certain customer contracts, we do not currently believe ASU 2014-09 will have a material effect on our Consolidated Financial Statements. In May 2015, the FASB issued ASU 2015-09 “Financial Services—Insurance—Disclosures about Short-Duration Contracts,” which requires additional disclosures in annual and interim reporting periods by insurance entities regarding liabilities for unpaid claims and claim adjustment expenses, and changes in assumptions or methodologies for calculating such liabilities. ASU 2015-09 is effective for annual periods beginning after December 15, 2015 and interim periods beginning after December 15, 2016. We continue to evaluate the effect adopting this standard will have on the disclosures in our Consolidated Financial Statements. In January 2016, the FASB issued ASU 2016-01 “Financial Instruments—Recognition and Measurement of Financial Assets and Financial Liabilities.” ASU 2016-01 generally requires that equity investments (excluding equity method investments) be measured at fair value with changes in fair value recognized in net income. Under existing GAAP, changes in fair value of available-for-sale equity investments are recorded in other comprehensive income. Given the current magnitude of our equity investments, the adoption of ASU 2016-01 will likely have a significant impact on the periodic net earnings reported in our Consolidated Statement of Earnings, although it will likely not significantly impact our comprehensive income or shareholders’ equity. ASU 2016-01 is effective for annual and interim periods beginning after December 15, 2017, with the cumulative effect of the adoption made to the balance sheet as of the date of adoption. Thus, the adoption will result in a reclassification of the related accumulated unrealized appreciation currently included in accumulated other comprehensive income to retained earnings, with no impact on Berkshire shareholders’ equity. In February 2016, the FASB issued ASU 2016-02 “Leases.” ASU 2016-02 requires a lessee to recognize in the statement of financial position a liability to make lease payments and a right-of-use asset representing its right to use the underlying asset for the lease term, along with additional qualitative and quantitative disclosures. ASU 2016-02 is effective for annual and interim periods beginning after December 15, 2018, with early adoption permitted. We are currently evaluating the effect this standard will have on our Consolidated Financial Statements. In June 2016, the FASB issued ASU 2016-13 “Financial Instruments—Credit Losses,” which provides for the recognition and measurement at the reporting date of all expected credit losses for financial assets held at amortized cost and available-for-sale debt securities. Currently credit losses are recognized and measured when such losses become probable based on the prevailing facts and circumstances. ASU 2016-13 is effective for reporting periods beginning after December 15, 2019. We are currently evaluating the effect this standard will have on our Consolidated Financial Statements. |
Significant business acquisit31
Significant business acquisitions (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Business Combinations [Abstract] | |
Schedule of estimated fair values of assets acquired and liabilities assumed | Preliminary fair values of identified assets acquired and liabilities assumed and residual goodwill of PCC and Duracell at their respective acquisition dates are summarized in the table that follows (in millions). PCC Duracell Cash and cash equivalents $ 250 $ 1,807 Inventories 3,430 326 Property, plant and equipment 2,772 364 Goodwill 15,880 614 Other intangible assets 24,197 2,024 Other assets 1,914 256 Assets acquired $ 48,443 $ 5,391 Accounts payable, accruals and other liabilities $ 2,442 $ 392 Notes payable and other borrowings 5,251 — Income taxes, principally deferred 8,092 760 Liabilities assumed $ 15,785 $ 1,152 Net assets $ 32,658 $ 4,239 |
Schedule of pro forma consolidated earnings data | The following table sets forth certain unaudited pro forma consolidated earnings data for the first nine months of 2015 as if the acquisitions discussed previously were consummated on the same terms at the beginning of the year preceding their respective acquisition dates (in millions, except per share amount). Pro forma data for the first nine months of 2016 was not materially different from the amounts reflected in the accompanying Consolidated Financial Statements. First Nine Months 2015 Revenues $ 167,315 Net earnings attributable to Berkshire Hathaway shareholders 19,086 Net earnings per equivalent Class A common share attributable to Berkshire Hathaway shareholders 11,615 |
Investments in fixed maturity32
Investments in fixed maturity securities (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of investments in securities with fixed maturities | Investments in securities with fixed maturities as of September 30, 2016 and December 31, 2015 are summarized below (in millions). Amortized Unrealized Unrealized Fair September 30, 2016 U.S. Treasury, U.S. government corporations and agencies $ 4,549 $ 17 $ (1 ) $ 4,565 States, municipalities and political subdivisions 1,216 64 (1 ) 1,279 Foreign governments 9,454 362 (21 ) 9,795 Corporate bonds 6,996 800 (7 ) 7,789 Mortgage-backed securities 1,068 156 (5 ) 1,219 $ 23,283 $ 1,399 $ (35 ) $ 24,647 December 31, 2015 U.S. Treasury, U.S. government corporations and agencies $ 3,425 $ 10 $ (8 ) $ 3,427 States, municipalities and political subdivisions 1,695 71 (2 ) 1,764 Foreign governments 11,327 226 (85 ) 11,468 Corporate bonds 7,323 632 (29 ) 7,926 Mortgage-backed securities 1,279 168 (5 ) 1,442 $ 25,049 $ 1,107 $ (129 ) $ 26,027 Investments in fixed maturity securities are reflected in our Consolidated Balance Sheets as follows (in millions). September 30, 2016 December 31, 2015 Insurance and other $ 24,613 $ 25,988 Finance and financial products 34 39 $ 24,647 $ 26,027 |
Schedule of amortized cost and estimated fair value of securities with fixed maturities | The amortized cost and estimated fair value of securities with fixed maturities at September 30, 2016 are summarized below by contractual maturity dates. Actual maturities may differ from contractual maturities due to early call or prepayment rights held by issuers (in millions). Due in one Due after one year through Due after five years through Due after ten years Mortgage- backed Total Amortized cost $8,007 $10,773 $1,076 $2,359 $1,068 $23,283 Fair value 8,068 11,224 1,177 2,959 1,219 24,647 |
Investments in equity securit33
Investments in equity securities (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of investments in equity securities | Investments in equity securities as of September 30, 2016 and December 31, 2015 are summarized based on the primary industry of the investee in the table below (in millions). Cost Basis Unrealized Unrealized Fair September 30, 2016 * Banks, insurance and finance $ 19,852 $ 21,695 $ (173 ) $ 41,374 Consumer products 5,149 16,790 — 21,939 Commercial, industrial and other 32,517 7,904 (1,199 ) 39,222 $ 57,518 $ 46,389 $ (1,372 ) $ 102,535 * Approximately 60% of the aggregate fair value was concentrated in the equity securities of four companies (American Express Company – $9.7 billion; Wells Fargo & Company – $22.1 billion; International Business Machines Corporation (“IBM”) – $12.9 billion; and The Coca-Cola Company – $16.9 billion). Cost Basis Unrealized Unrealized Fair December 31, 2015 * Banks, insurance and finance $ 20,026 $ 27,965 $ (21) $ 47,970 Consumer products 6,867 18,022 (1) 24,888 Commercial, industrial and other 35,417 6,785 (3,238) 38,964 $ 62,310 $ 52,772 $ (3,260) $ 111,822 * Approximately 59% of the aggregate fair value was concentrated in the equity securities of four companies (American Express Company – $10.5 billion; Wells Fargo & Company – $27.2 billion; IBM – $11.2 billion; and The Coca-Cola Company – $17.2 billion). Investments in equity securities are reflected in our Consolidated Balance Sheets as follows (in millions). September 30, December 31, 2015 Insurance and other $ 100,757 $ 110,212 Railroad, utilities and energy * 1,476 1,238 Finance and financial products 302 372 $ 102,535 $ 111,822 * Included in other assets. |
Other investments (Tables)
Other investments (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Investments, All Other Investments [Abstract] | |
Schedule of other investments | Other investments are classified as available-for-sale and are shown in our Consolidated Balance Sheets as follows (in millions). Cost Fair Value September 30, 2016 December 31, 2015 September 30, 2016 December 31, 2015 Insurance and other $ 9,970 $ 9,970 $ 15,415 $ 15,998 Finance and financial products 1,000 3,052 2,078 5,719 $ 10,970 $ 13,022 $ 17,493 $ 21,717 |
Investments in The Kraft Hein35
Investments in The Kraft Heinz Company (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Summarized consolidated financial information of Kraft Heinz | Summarized consolidated financial information of Kraft Heinz follows (in millions). October 2, 2016 January 3, 2016 Assets $121,080 $122,973 Liabilities 63,212 56,737 Third Quarter First Nine Months 2016 2015 2016 2015 Sales $ 6,267 $ 6,120 $ 19,630 $ 11,214 Net earnings (loss) attributable to common shareholders $ 842 $ (303) $ 2,508 $ (551) |
Kraft Heinz (previously Heinz Holding) [Member] | |
Summary of investments in Kraft Heinz | A summary of our investments in Kraft Heinz follows (in millions). Carrying Value September 30, 2016 December 31, 2015 Common stock $15,711 $15,714 Preferred Stock — 7,710 $15,711 $23,424 |
Investment gains_losses (Tables
Investment gains/losses (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of investment gains/losses | Investment gains/losses are summarized below (in millions). Third Quarter First Nine Months 2016 2015 2016 2015 Fixed maturity securities— Gross gains from sales and redemptions $ 5 $ 6 $ 44 $ 88 Gross losses from sales and redemptions (24) (44) (41) (128) Equity securities— Gross gains from sales and redemptions 3,173 8,407 5,720 8,855 Gross losses from sales and redemptions (13) (75) (76) (95) Other-than-temporary impairment losses — (26) (63) (26) Other 9 (2) 59 31 $ 3,150 $ 8,266 $ 5,643 $ 8,725 |
Inventories (Tables)
Inventories (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Inventory Disclosure [Abstract] | |
Schedule of inventories | Inventories are comprised of the following (in millions). September 30, 2016 December 31, 2015 Raw materials $ 2,909 $ 1,852 Work in process and other 2,461 778 Finished manufactured goods 4,287 3,369 Goods acquired for resale 6,106 5,917 $ 15,763 $ 11,916 |
Receivables (Tables)
Receivables (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Insurance and Other [Member] | |
Schedule of receivables | Receivables of insurance and other businesses are comprised of the following (in millions). September 30, 2016 December 31, 2015 Insurance premiums receivable $ 10,226 $ 8,843 Reinsurance recoverable on unpaid losses 3,482 3,307 Trade and other receivables 14,181 11,521 Allowances for uncollectible accounts (345) (368) $ 27,544 $ 23,303 |
Finance and Financial Products [Member] | |
Schedule of receivables | Loans and finance receivables of finance and financial products businesses are summarized as follows (in millions). September 30, 2016 December 31, 2015 Loans and finance receivables before allowances and discounts $ 13,663 $ 13,186 Allowances for uncollectible loans (183) (182) Unamortized acquisition discounts (267) (232) $ 13,213 $ 12,772 |
Property, plant and equipment (
Property, plant and equipment (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Schedule of depreciation expense | A summary of depreciation expense follows (in millions). First Nine Months 2016 2015 Insurance and other $ 1,595 $ 1,240 Railroad, utilities and energy 3,459 3,276 Finance and financial products 466 447 $ 5,520 $ 4,963 |
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). Range of estimated useful life September 30, 2016 December 31, 2015 Land — $ 2,128 $ 1,689 Buildings and improvements 5 – 40 years 8,315 7,329 Machinery and equipment 3 – 25 years 20,103 17,054 Furniture, fixtures and other 2 – 15 years 4,419 3,545 34,965 29,617 Accumulated depreciation (15,639) (14,077) $ 19,326 $ 15,540 |
Railroad, Utilities and Energy [Member] | |
Schedule of property, plant and equipment | A summary of property, plant and equipment of our railroad and our 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. Range of estimated useful life September 30, 2016 December 31, 2015 Railroad: Land — $ 6,060 $ 6,037 Track structure and other roadway 7 – 100 years 47,586 45,967 Locomotives, freight cars and other equipment 6 – 40 years 11,860 11,320 Construction in progress — 1,064 1,031 66,570 64,355 Accumulated depreciation (5,673) (4,845) $ 60,897 $ 59,510 Utilities and energy: Utility generation, transmission and distribution systems 5 – 80 years $ 70,316 $ 69,248 Interstate natural gas pipeline assets 3 – 80 years 6,866 6,755 Independent power plants and other assets 3 – 30 years 6,056 5,626 Construction in progress — 3,175 2,627 86,413 84,256 Accumulated depreciation (24,305) (23,487) $ 62,108 $ 60,769 |
Finance and Financial Products [Member] | |
Schedule of property, plant and equipment | Assets held for lease and property, plant and equipment of our finance and financial products businesses are summarized below (in millions). Range of estimated useful life September 30, 2016 December 31, 2015 Assets held for lease 5 – 35 years $ 11,906 $ 11,317 Land — 223 220 Buildings, machinery and other 3 – 50 years 1,289 1,207 13,418 12,744 Accumulated depreciation (3,681) (3,397) $ 9,737 $ 9,347 |
Goodwill and other intangible40
Goodwill and other intangible assets (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Reconciliation of the change in goodwill | A reconciliation of the change in the carrying value of goodwill is as follows (in millions). September 30, 2016 December 31, 2015 Balance at beginning of year $ 62,708 $ 60,714 Acquisitions of businesses 17,016 2,563 Other, including foreign currency translation (332) (569) Balance at end of period $ 79,392 $ 62,708 |
Schedule of intangible assets | Other intangible assets are summarized as follows (in millions). September 30, 2016 December 31, 2015 Gross carrying amount Accumulated amortization Gross carrying amount Accumulated amortization Insurance and other $ 41,575 $ 6,541 $ 14,610 $ 5,462 Railroad, utilities and energy 897 279 888 239 $ 42,472 $ 6,820 $ 15,498 $ 5,701 Trademarks and trade names $ 6,049 $ 821 $ 3,041 $ 765 Patents and technology 4,455 2,329 4,252 2,050 Customer relationships 28,851 2,721 5,474 2,131 Other 3,117 949 2,731 755 $ 42,472 $ 6,820 $ 15,498 $ 5,701 |
Derivative contracts (Tables)
Derivative contracts (Tables) - Finance and Financial Products [Member] | 9 Months Ended |
Sep. 30, 2016 | |
Derivative contracts outstanding | A summary of the liabilities and related notional values of these contracts follows (in millions). September 30, 2016 December 31, 2015 Liabilities Notional Value Liabilities Notional Value Equity index put options $ 3,973 $ 27,982 (1) $ 3,552 $ 27,722 (1) Credit default (2) — — 284 7,792 $ 3,973 $ 3,836 (1) Represents the aggregate undiscounted amounts payable assuming that the value of each index is zero at each contract’s expiration date. Certain of these contracts are denominated in foreign currencies. Notional amounts are based on the foreign currency exchange rates as of each balance sheet date. (2) In July 2016, our remaining credit default contract was terminated by mutual agreement with the counterparty. We no longer have any exposure to losses under credit default contracts. |
Derivative gains/losses included in the Consolidated Statements of Earnings | A summary of the derivative gains (losses) included in our Consolidated Statements of Earnings follows (in millions). Third Quarter First Nine Months 2016 2015 2016 2015 Equity index put options $ 458 $ (802) $ (421 ) $ 371 Credit default — 38 89 9 $ 458 $ (764) $ (332 ) $ 380 |
Supplemental cash flow inform42
Supplemental cash flow information (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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 2016 2015 Cash paid during the period for: Income taxes $ 2,237 $ 2,575 Interest: Insurance and other businesses 499 312 Railroad, utilities and energy businesses 2,130 2,043 Finance and financial products businesses 263 274 Non-cash investing and financing activities: Liabilities assumed in connection with business acquisitions 17,319 2,792 Equity securities exchanged in connection with business acquisition 4,239 — |
Notes payable and other borro43
Notes payable and other borrowings (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Insurance and Other [Member] | |
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, 2016. Weighted Average Interest Rate September 30, 2016 December 31, 2015 Insurance and other: Berkshire Hathaway Inc. (“Berkshire”) due 2016-2047 2.2% $ 18,108 $ 9,799 Short-term subsidiary borrowings 2.2% 2,019 1,989 Other subsidiary borrowings due 2016-2044 4.0% 7,387 2,811 $ 27,514 $ 14,599 |
Railroad, Utilities and Energy [Member] | |
Schedule of short and long term outstanding debt disclosure | Weighted Average Interest Rate September 30, 2016 December 31, 2015 Railroad, utilities and energy: Berkshire Hathaway Energy Company (“BHE”) and its subsidiaries: BHE senior unsecured debt due 2017-2045 5.1% $ 7,817 $ 7,814 Subsidiary and other debt due 2016-2064 4.7% 28,828 28,188 Burlington Northern Santa Fe (“BNSF”) due 2016-2097 4.8% 22,166 21,737 $ 58,811 $ 57,739 |
Finance and Financial Products [Member] | |
Schedule of short and long term outstanding debt disclosure | Weighted Average Interest Rate September 30, 2016 December 31, 2015 Finance and financial products: Berkshire Hathaway Finance Corporation (“BHFC”) due 2017-2043 2.5% $ 14,421 $ 10,679 Other subsidiary borrowings due 2016-2036 5.0% 1,052 1,272 $ 15,473 $ 11,951 |
Fair value measurements (Tables
Fair value measurements (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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, 2016 and December 31, 2015 with fair values shown according to the fair value hierarchy (in millions). The carrying values of cash and cash equivalents, receivables and accounts payable, accruals and other liabilities are considered to be reasonable estimates of their fair values. Carrying Value Fair Value Quoted Prices (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) September 30, 2016 Investments in fixed maturity securities: U.S. Treasury, U.S. government corporations and agencies $ 4,565 $ 4,565 $ 3,318 $ 1,247 $ — States, municipalities and political subdivisions 1,279 1,279 — 1,279 — Foreign governments 9,795 9,795 7,704 2,091 — Corporate bonds 7,789 7,789 — 7,682 107 Mortgage-backed securities 1,219 1,219 — 1,219 — Investments in equity securities 102,535 102,535 102,534 — 1 Investment in Kraft Heinz common stock 15,711 29,130 29,130 — — Other investments 17,493 17,493 376 — 17,117 Loans and finance receivables 13,213 13,650 — 14 13,636 Derivative contract assets (1) 105 105 1 5 99 Derivative contract liabilities: Railroad, utilities and energy (1) 198 198 5 161 32 Finance and financial products: Equity index put options 3,973 3,973 — — 3,973 Notes payable and other borrowings: Insurance and other 27,514 29,119 — 29,119 — Railroad, utilities and energy 58,811 69,130 — 69,130 — Finance and financial products 15,473 16,251 — 15,862 389 December 31, 2015 Investments in fixed maturity securities: U.S. Treasury, U.S. government corporations and agencies $ 3,427 $ 3,427 $ 2,485 $ 942 $ — States, municipalities and political subdivisions 1,764 1,764 — 1,764 — Foreign governments 11,468 11,468 9,188 2,280 — Corporate bonds 7,926 7,926 — 7,826 100 Mortgage-backed securities 1,442 1,442 — 1,442 — Investments in equity securities 111,822 111,822 111,786 35 1 Investment in Kraft Heinz common stock 15,714 23,679 23,679 — — Investment in Kraft Heinz Preferred Stock 7,710 8,363 — — 8,363 Other investments 21,717 21,717 315 — 21,402 Loans and finance receivables 12,772 13,112 — 16 13,096 Derivative contract assets (1) 103 103 — 5 98 Derivative contract liabilities: Railroad, utilities and energy (1) 237 237 13 177 47 Finance and financial products: Equity index put options 3,552 3,552 — — 3,552 Credit default 284 284 — — 284 Notes payable and other borrowings: Insurance and other 14,599 14,773 — 14,773 — Railroad, utilities and energy 57,739 62,471 — 62,471 — Finance and financial products 11,951 12,363 — 11,887 476 (1) Assets are included in other assets and liabilities are included in accounts payable, accruals and other liabilities. |
Reconciliations of assets and liabilities measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) | Reconciliations of 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 ending September 30, 2016 and 2015 follow (in millions). Investments in fixed maturity securities Investments in equity securities and other investments Net derivative contract liabilities Nine months ending September 30, 2016 Balance at December 31, 2015 $ 100 $ 21,403 $ (3,785 ) Gains (losses) included in: Earnings — 2,409 (221 ) Other comprehensive income 3 (2,233 ) (2 ) Regulatory assets and liabilities — — (12 ) Acquisitions, dispositions and settlements 5 (4,461 ) (81 ) Transfers into/out of Level 3 (1 ) — 195 Balance at September 30, 2016 $ 107 $ 17,118 $ (3,906 ) Nine months ending September 30, 2015 Balance at December 31, 2014 $ 8 $ 21,996 $ (4,759 ) Gains (losses) included in: Earnings — — 467 Other comprehensive income — (1,722 ) (5 ) Regulatory assets and liabilities — — (21 ) Acquisition, dispositions and settlements 103 — (65 ) Transfers into/out of Level 3 — — 3 Balance at September 30, 2015 $ 111 $ 20,274 $ (4,380 ) |
Fair value assets and liabilities measured on recurring basis, unobservable inputs, additional information | Quantitative information as of September 30, 2016, with respect to assets and liabilities measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) follows (in millions). Fair Value Principal Valuation Techniques Unobservable Inputs Weighted Other investments: Preferred stocks $ 11,615 Discounted cash flow Expected duration 6 years Discount for transferability 159 basis points Common stock warrants 5,502 Warrant pricing model Discount for transferability and 7% Net derivative liabilities: Equity index put options 3,973 Option pricing model Volatility 21% |
Common stock (Tables)
Common stock (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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 2016 are shown in the table below. Class A, $5 Par Value Class B, $0.0033 Par Value Issued Treasury Outstanding Issued Treasury Outstanding Balance at December 31, 2015 820,102 (11,680) 808,422 1,253,866,598 (1,409,762) 1,252,456,836 Conversions of Class A common stock to Class B common stock and exercises of replacement stock options issued in a business acquisition (22,628) — (22,628 ) 34,899,211 — 34,899,211 Balance at September 30, 2016 797,474 (11,680) 785,794 1,288,765,809 (1,409,762) 1,287,356,047 |
Accumulated other comprehensi46
Accumulated other comprehensive income (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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 and significant amounts reclassified out of accumulated other comprehensive income for the nine months ending September 30, 2016 and 2015 follows (in millions). Unrealized investments Foreign Prior service pension plans Other Accumulated Other Comprehensive income Nine months ending September 30, 2016 Balance at December 31, 2015 $ 38,598 $ (3,856 ) $ (762) $ 2 $ 33,982 Other comprehensive income, net before reclassifications (912) (101 ) (39) (26 ) (1,078 ) Reclassifications from accumulated other comprehensive income (3,188) — 59 23 (3,106 ) Balance at September 30, 2016 $ 34,498 $ (3,957 ) $ (742) $ (1 ) $ 29,798 Reclassifications from other comprehensive income into net earnings: Investment gains/losses $ (4,904) $ — $ — $ — $ (4,904 ) Other — — 79 41 120 Reclassifications before income taxes (4,904) — 79 41 (4,784 ) Applicable income taxes (1,716) — 20 18 (1,678 ) $ (3,188) $ — $ 59 $ 23 $ (3,106 ) Unrealized investments Foreign Prior service pension plans Other Accumulated income Nine months ending September 30, 2015 Balance at December 31, 2014 $ 45,636 $ (1,957) $ (1,039) $ 92 $ 42,732 Other comprehensive income, net before reclassifications (7,958) (1,602) 162 (113 ) (9,511) Reclassifications from accumulated other comprehensive income (1,158) 128 1 11 (1,018) Balance at September 30, 2015 $ 36,520 $ (3,431) $ (876) $ (10 ) $ 32,203 Reclassifications from other comprehensive income into net earnings: Investment gains/losses $ (1,781) $ 197 $ — $ — $ (1,584) Other — — 2 18 20 Reclassifications before income taxes (1,781) 197 2 18 (1,564) Applicable income taxes (623) 69 1 7 (546) $ (1,158) $ 128 1 $ 11 $ (1,018) |
Business segment data (Tables)
Business segment data (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Segment Reporting [Abstract] | |
Schedule of revenues and earnings by segment | Revenues by segment were as follows (in millions). Third Quarter First Nine Months 2016 2015 2016 2015 Operating Businesses: Insurance group: Underwriting: GEICO $ 6,474 $ 5,788 $ 18,771 $ 16,792 General Re 1,389 1,405 4,168 4,397 Berkshire Hathaway Reinsurance Group 1,872 1,892 5,767 5,317 Berkshire Hathaway Primary Group 1,629 1,429 4,581 3,948 Investment income 1,043 1,046 3,428 3,474 Total insurance group 12,407 11,560 36,715 33,928 BNSF 5,167 5,600 14,519 16,571 Berkshire Hathaway Energy 5,198 5,144 13,615 14,018 Manufacturing 12,082 9,181 34,837 27,568 McLane Company 12,271 12,264 36,121 36,200 Service and retailing 6,331 6,151 18,607 16,966 Finance and financial products 1,962 1,725 5,677 5,078 55,418 51,625 160,091 150,329 Reconciliation of segments to consolidated amount: Investment and derivative gains/losses 3,608 7,502 5,311 9,105 Income from Kraft Heinz 225 98 851 329 Eliminations and other (183) (236) (322) (762) $ 59,068 $ 58,989 $ 165,931 $ 159,001 Earnings before income taxes by segment were as follows (in millions). Third Quarter First Nine Months 2016 2015 2016 2015 Operating Businesses: Insurance group: Underwriting: GEICO $ 138 $ 258 $ 552 $ 471 General Re 100 (2) 144 58 Berkshire Hathaway Reinsurance Group (19) 199 86 247 Berkshire Hathaway Primary Group 190 188 485 566 Investment income 1,029 1,045 3,406 3,466 Total insurance group 1,438 1,688 4,673 4,808 BNSF 1,633 1,839 4,129 5,047 Berkshire Hathaway Energy 1,246 1,153 2,481 2,398 Manufacturing 1,981 1,259 5,150 3,857 McLane Company 106 106 371 384 Service and retailing 449 378 1,230 1,260 Finance and financial products 517 486 1,578 1,480 7,370 6,909 19,612 19,234 Reconciliation of segments to consolidated amount: Investment and derivative gains/losses 3,608 7,502 5,311 9,105 Income from Kraft Heinz 225 98 851 329 Interest expense, not allocated to segments (201) (83) (518) (391) Eliminations and other (477) (354) (903) (712) $ 10,525 $ 14,072 $ 24,353 $ 27,565 |
Significant business acquisit48
Significant business acquisitions - Narrative (Detail) - USD ($) $ / shares in Units, $ in Millions | Feb. 29, 2016 | Jan. 29, 2016 | Sep. 30, 2016 |
Business Acquisition [Line Items] | |||
Fair value of shares exchanged | $ 4,239 | ||
Precision Castparts Corp. [Member] | |||
Business Acquisition [Line Items] | |||
Business acquisition, cash price per share | $ 235 | ||
Aggregate consideration paid for business acquisition | $ 32,700 | ||
Duracell Company [Member] | Procter & Gamble Company [Member] | |||
Business Acquisition [Line Items] | |||
Fair value of shares exchanged | $ 4,239 |
Significant business acquisit49
Significant business acquisitions - Estimated fair values of assets acquired and liabilities assumed (Detail) - USD ($) $ in Millions | Sep. 30, 2016 | Feb. 29, 2016 | Jan. 29, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Business Acquisition [Line Items] | |||||
Goodwill | $ 79,392 | $ 62,708 | $ 60,714 | ||
Precision Castparts Corp. [Member] | |||||
Business Acquisition [Line Items] | |||||
Cash and cash equivalents | $ 250 | ||||
Inventories | 3,430 | ||||
Property, plant and equipment | 2,772 | ||||
Goodwill | 15,880 | ||||
Other intangible assets | 24,197 | ||||
Other assets | 1,914 | ||||
Assets acquired | 48,443 | ||||
Accounts payable, accruals and other liabilities | 2,442 | ||||
Notes payable and other borrowings | 5,251 | ||||
Income taxes, principally deferred | 8,092 | ||||
Liabilities assumed | 15,785 | ||||
Net assets | $ 32,658 | ||||
Duracell Company [Member] | |||||
Business Acquisition [Line Items] | |||||
Cash and cash equivalents | $ 1,807 | ||||
Inventories | 326 | ||||
Property, plant and equipment | 364 | ||||
Goodwill | 614 | ||||
Other intangible assets | 2,024 | ||||
Other assets | 256 | ||||
Assets acquired | 5,391 | ||||
Accounts payable, accruals and other liabilities | 392 | ||||
Income taxes, principally deferred | 760 | ||||
Liabilities assumed | 1,152 | ||||
Net assets | $ 4,239 |
Significant business acquisit50
Significant business acquisitions - Pro forma consolidated earnings data (Detail) - Precision Castparts and Duracell [Member] $ / shares in Units, $ in Millions | 9 Months Ended |
Sep. 30, 2015USD ($)$ / shares | |
Business Acquisition [Line Items] | |
Revenues | $ 167,315 |
Net earnings attributable to Berkshire Hathaway shareholders | $ 19,086 |
Net earnings per equivalent Class A common share attributable to Berkshire Hathaway shareholders | $ / shares | $ 11,615 |
Investments in fixed maturity51
Investments in fixed maturity securities (Detail) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Summary of Investment Holdings [Line Items] | ||
Amortized cost of fixed maturity securities | $ 23,283 | $ 25,049 |
Unrealized gains on fixed maturity securities | 1,399 | 1,107 |
Unrealized losses on fixed maturity securities | (35) | (129) |
Fair value of fixed maturity securities | 24,647 | 26,027 |
U.S. Treasury, U.S. government corporations and agencies [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Amortized cost of fixed maturity securities | 4,549 | 3,425 |
Unrealized gains on fixed maturity securities | 17 | 10 |
Unrealized losses on fixed maturity securities | (1) | (8) |
Fair value of fixed maturity securities | 4,565 | 3,427 |
States, municipalities and political subdivisions [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Amortized cost of fixed maturity securities | 1,216 | 1,695 |
Unrealized gains on fixed maturity securities | 64 | 71 |
Unrealized losses on fixed maturity securities | (1) | (2) |
Fair value of fixed maturity securities | 1,279 | 1,764 |
Foreign governments [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Amortized cost of fixed maturity securities | 9,454 | 11,327 |
Unrealized gains on fixed maturity securities | 362 | 226 |
Unrealized losses on fixed maturity securities | (21) | (85) |
Fair value of fixed maturity securities | 9,795 | 11,468 |
Corporate bonds [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Amortized cost of fixed maturity securities | 6,996 | 7,323 |
Unrealized gains on fixed maturity securities | 800 | 632 |
Unrealized losses on fixed maturity securities | (7) | (29) |
Fair value of fixed maturity securities | 7,789 | 7,926 |
Mortgage-backed securities [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Amortized cost of fixed maturity securities | 1,068 | 1,279 |
Unrealized gains on fixed maturity securities | 156 | 168 |
Unrealized losses on fixed maturity securities | (5) | (5) |
Fair value of fixed maturity securities | $ 1,219 | $ 1,442 |
Investments in fixed maturity52
Investments in fixed maturity securities - Carrying value by segment (Detail) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Summary of Investment Holdings [Line Items] | ||
Investments in fixed maturity securities | $ 24,647 | $ 26,027 |
Insurance and Other [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Investments in fixed maturity securities | 24,613 | 25,988 |
Finance and Financial Products [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Investments in fixed maturity securities | $ 34 | $ 39 |
Investments in fixed maturity53
Investments in fixed maturity securities - Narrative (Detail) - Foreign governments [Member] | Sep. 30, 2016 |
AA or Higher Credit Rating [Member] | |
Summary of Investment Holdings [Line Items] | |
Percentage of fixed maturity investments by credit rating | 92.00% |
United Kingdom, Germany, Australia or Canada [Member] | |
Summary of Investment Holdings [Line Items] | |
Percentage of fixed maturity investments by geographic location | 80.00% |
Investments in fixed maturity54
Investments in fixed maturity securities - Amortized cost and estimated fair value of securities with fixed maturities (Detail) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Summary of Investment Holdings [Line Items] | ||
Due in one year or less - amortized cost | $ 8,007 | |
Due after one year through five years - amortized cost | 10,773 | |
Due after five years through ten years - amortized cost | 1,076 | |
Due after ten years - amortized cost | 2,359 | |
Amortized cost of fixed maturity securities | 23,283 | $ 25,049 |
Due in one year or less - fair value | 8,068 | |
Due after one year through five years - fair value | 11,224 | |
Due after five years through ten years - fair value | 1,177 | |
Due after ten years - fair value | 2,959 | |
Fair value of fixed maturity securities | 24,647 | 26,027 |
Mortgage-backed securities [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Amortized cost of mortgage-backed securities | 1,068 | |
Amortized cost of fixed maturity securities | 1,068 | 1,279 |
Fair value of mortgage-backed securities | 1,219 | |
Fair value of fixed maturity securities | $ 1,219 | $ 1,442 |
Investments in equity securit55
Investments in equity securities (Detail) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 | ||
Summary of Investment Holdings [Line Items] | ||||
Cost basis of investments | $ 57,518 | $ 62,310 | ||
Unrealized gains on investments | 46,389 | 52,772 | ||
Unrealized losses on investments | (1,372) | (3,260) | ||
Fair value of investments | 102,535 | [1] | 111,822 | [2] |
Banks, insurance and finance [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Cost basis of investments | 19,852 | 20,026 | ||
Unrealized gains on investments | 21,695 | 27,965 | ||
Unrealized losses on investments | (173) | (21) | ||
Fair value of investments | 41,374 | 47,970 | ||
Consumer products [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Cost basis of investments | 5,149 | 6,867 | ||
Unrealized gains on investments | 16,790 | 18,022 | ||
Unrealized losses on investments | (1) | |||
Fair value of investments | 21,939 | 24,888 | ||
Commercial, industrial and other [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Cost basis of investments | 32,517 | 35,417 | ||
Unrealized gains on investments | 7,904 | 6,785 | ||
Unrealized losses on investments | (1,199) | (3,238) | ||
Fair value of investments | $ 39,222 | $ 38,964 | ||
[1] | Approximately 60% of the aggregate fair value was concentrated in the equity securities of four companies (American Express Company - $9.7 billion; Wells Fargo & Company - $22.1 billion; International Business Machines Corporation ("IBM") - $12.9 billion; and The Coca-Cola Company - $16.9 billion). | |||
[2] | Approximately 59% of the aggregate fair value was concentrated in the equity securities of four companies (American Express Company - $10.5 billion; Wells Fargo & Company - $27.2 billion; IBM - $11.2 billion; and The Coca-Cola Company - $17.2 billion). |
Investments in equity securit56
Investments in equity securities (Parenthetical) (Detail) $ in Millions | Sep. 30, 2016USD ($)Company | Dec. 31, 2015USD ($)Company | ||
Summary of Investment Holdings [Line Items] | ||||
Fair value of investments | $ 102,535 | [1] | $ 111,822 | [2] |
Equity Securities [Member] | Investment Concentration [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Concentration percentage | 60.00% | 59.00% | ||
Number of companies in concentration percentage | Company | 4 | 4 | ||
American Express Company [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Fair value of investments | $ 9,700 | $ 10,500 | ||
Wells Fargo & Company [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Fair value of investments | 22,100 | 27,200 | ||
IBM [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Fair value of investments | 12,900 | 11,200 | ||
The Coca-Cola Company [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Fair value of investments | $ 16,900 | $ 17,200 | ||
[1] | Approximately 60% of the aggregate fair value was concentrated in the equity securities of four companies (American Express Company - $9.7 billion; Wells Fargo & Company - $22.1 billion; International Business Machines Corporation ("IBM") - $12.9 billion; and The Coca-Cola Company - $16.9 billion). | |||
[2] | Approximately 59% of the aggregate fair value was concentrated in the equity securities of four companies (American Express Company - $10.5 billion; Wells Fargo & Company - $27.2 billion; IBM - $11.2 billion; and The Coca-Cola Company - $17.2 billion). |
Investments in equity securit57
Investments in equity securities - Narrative (Detail) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Summary of Investment Holdings [Line Items] | ||
Unrealized losses on investments | $ 1,372 | $ 3,260 |
Equity Securities [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Unrealized losses related to securities that have been in an unrealized loss position for more than 12 months | 995 | $ 989 |
IBM [Member] | Common Stock [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Unrealized losses related to securities that have been in an unrealized loss position for more than 12 months | 855 | |
Unrealized losses on investments | $ 941 | |
Unrealized losses on investments, percentage of cost | 7.00% |
Investments in equity securit58
Investments in equity securities - Fair value by segment (Detail) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 | |||
Summary of Investment Holdings [Line Items] | |||||
Investments in equity securities | $ 102,535 | [1] | $ 111,822 | [2] | |
Insurance and Other [Member] | |||||
Summary of Investment Holdings [Line Items] | |||||
Investments in equity securities | 100,757 | 110,212 | |||
Railroad, Utilities and Energy [Member] | Other Assets [Member] | |||||
Summary of Investment Holdings [Line Items] | |||||
Investments in equity securities | [3] | 1,476 | 1,238 | ||
Finance and Financial Products [Member] | |||||
Summary of Investment Holdings [Line Items] | |||||
Investments in equity securities | $ 302 | $ 372 | |||
[1] | Approximately 60% of the aggregate fair value was concentrated in the equity securities of four companies (American Express Company - $9.7 billion; Wells Fargo & Company - $22.1 billion; International Business Machines Corporation ("IBM") - $12.9 billion; and The Coca-Cola Company - $16.9 billion). | ||||
[2] | Approximately 59% of the aggregate fair value was concentrated in the equity securities of four companies (American Express Company - $10.5 billion; Wells Fargo & Company - $27.2 billion; IBM - $11.2 billion; and The Coca-Cola Company - $17.2 billion). | ||||
[3] | Included in other assets. |
Other investments (Detail)
Other investments (Detail) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Insurance and Other [Member] | ||
Other Investments [Line Items] | ||
Other investments, Fair Value | $ 15,415 | $ 15,998 |
Finance and Financial Products [Member] | ||
Other Investments [Line Items] | ||
Other investments, Fair Value | 2,078 | 5,719 |
Available-for-sale Securities [Member] | ||
Other Investments [Line Items] | ||
Other investments, Cost | 10,970 | 13,022 |
Other investments, Fair Value | 17,493 | 21,717 |
Available-for-sale Securities [Member] | Insurance and Other [Member] | ||
Other Investments [Line Items] | ||
Other investments, Cost | 9,970 | 9,970 |
Other investments, Fair Value | 15,415 | 15,998 |
Available-for-sale Securities [Member] | Finance and Financial Products [Member] | ||
Other Investments [Line Items] | ||
Other investments, Cost | 1,000 | 3,052 |
Other investments, Fair Value | $ 2,078 | $ 5,719 |
Other investments - Narrative (
Other investments - Narrative (Detail) - Available-for-sale Securities [Member] - USD ($) | Sep. 27, 2016 | Sep. 30, 2016 | Dec. 31, 2008 |
Wm. Wrigley Jr. Company [Member] | |||
Other Investments [Line Items] | |||
Percentage of original preferred stock investment expected to be redeemed or called | 50.00% | ||
Preferred stock redemption period | 90 days | ||
Preferred stock redemption period start date | Oct. 6, 2016 | ||
Wm. Wrigley Jr. Company [Member] | Preferred Stock [Member] | |||
Other Investments [Line Items] | |||
Purchase of investment | $ 2,100,000,000 | ||
Sale of investment | $ 4,560,000,000 | ||
Series A Cumulative Convertible Perpetual Preferred Stock [Member] | The Dow Chemical Company [Member] | |||
Other Investments [Line Items] | |||
Investment, number of shares owned | 3,000,000 | ||
Investment in preferred stock, liquidation value per share | $ 1,000 | ||
Conversion ratio of preferred stock into common stock | 24.201 | ||
Preferred stock conversion price, per share | $ 41.32 | ||
Common stock threshold price, per share, to trigger the issuer's option to convert preferred stock into common stock | $ 53.72 | ||
Minimum number of trading days in a consecutive-day period that the issuer's common stock price must exceed to trigger the issuer's option to convert preferred stock to common stock | 20 days | ||
Range of trading days in a consecutive day period, number of days | 30 days | ||
Investment in preferred stock, stated dividend rate | 8.50% | ||
Non-Cumulative Perpetual Preferred Stock [Member] | Bank of America Corporation [Member] | |||
Other Investments [Line Items] | |||
Preferred stock redemption period start date | May 7, 2019 | ||
Investment, number of shares owned | 50,000 | ||
Investment in preferred stock, liquidation value per share | $ 100,000 | ||
Investment in preferred stock, stated dividend rate | 6.00% | ||
Redemption value of Perpetual Preferred Stock, per share | $ 105,000 | ||
Redemption value of Perpetual Preferred Stock, aggregate value | $ 5,250,000,000 | ||
Warrants Expiring 2021 [Member] | Bank of America Corporation [Member] | |||
Other Investments [Line Items] | |||
Number of common shares that can be purchased | 700,000,000 | ||
Aggregate cost to exercise warrants | $ 5,000,000,000 | ||
Exercise price for warrants, per share | $ 7.142857 | ||
Class A 9% Cumulative Compounding Perpetual Preferred Stock [Member] | RBI [Member] | |||
Other Investments [Line Items] | |||
Preferred stock redemption period start date | Dec. 12, 2017 | ||
Investment in preferred stock, stated dividend rate | 9.00% | ||
Stated value of equity securities | $ 3,000,000,000 | ||
Preferred stock redemption at option of holder start date | Dec. 12, 2024 | ||
Preferred stock redemption price percentage | 109.90% |
Investments in The Kraft Hein61
Investments in The Kraft Heinz Company - Narrative (Detail) $ / shares in Units, $ in Millions | Jun. 07, 2016USD ($) | Jul. 02, 2015$ / shares | Jul. 01, 2015USD ($)shares | Jun. 07, 2013USD ($)shares | Jun. 30, 2015$ / sharesshares | Sep. 30, 2015USD ($) | Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($) |
Schedule of Equity Method Investments [Line Items] | ||||||||
Purchase of common stock | $ 5,258 | |||||||
Kraft Heinz (previously Heinz Holding) [Member] | Common Stock [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Reverse stock split ratio | 0.443332 | |||||||
Non-cash pre-tax holding gain | $ 6,800 | 6,800 | ||||||
Kraft Heinz (previously Heinz Holding) [Member] | Berkshire Hathaway Inc. (Parent) [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Equity method investment ownership percentage after transactions | 26.80% | |||||||
Kraft Heinz (previously Heinz Holding) [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Common Stock [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Number of shares acquired | shares | 262,900,000 | 425,000,000 | ||||||
Number of shares acquired upon exercise of warrants | shares | 46,000,000 | |||||||
Exercise price for warrants, per share | $ / shares | $ 0.01 | |||||||
Purchase of common stock | $ 5,258 | |||||||
Kraft Heinz (previously Heinz Holding) [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Cumulative Compounding Preferred Stock [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Investment in preferred stock, liquidation value | $ 8,000 | |||||||
Redemption of preferred stock | $ 8,320 | |||||||
Investment in preferred stock, stated dividend rate | 9.00% | |||||||
Preferred Stock dividends | $ 180 | $ 180 | 540 | |||||
Kraft Heinz (previously Heinz Holding) [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Common Stock, Cumulative Compounding Preferred Stock and Warrants [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Purchase of preferred stock, common stock and warrants | $ 12,250 | |||||||
Kraft Heinz (previously Heinz Holding) [Member] | Berkshire Hathaway Inc. and 3G Capital [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Equity method investment ownership percentage after transactions | 51.00% | |||||||
Kraft Heinz (previously Heinz Holding) [Member] | 3G Capital (venture partner) [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Equity method investment ownership percentage after transactions | 24.20% | |||||||
Kraft Heinz (previously Heinz Holding) [Member] | 3G Capital (venture partner) [Member] | Common Stock [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Number of shares acquired | shares | 237,100,000 | 425,000,000 | ||||||
Purchase of common stock | $ 4,740 | $ 4,250 | ||||||
Interest, Dividend and Other Investment Income [Member] | Kraft Heinz (previously Heinz Holding) [Member] | Berkshire Hathaway Inc. (Parent) [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Equity method earnings on common stock and dividends earned on preferred stock | $ 851 | $ 329 | ||||||
Kraft [Member] | Kraft Heinz (previously Heinz Holding) [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Ratio of common stock shares issued per Kraft common stock share | 1 | |||||||
Dividend received by Kraft shareholders per share | $ / shares | $ 16.50 |
Investments in The Kraft Hein62
Investments in The Kraft Heinz Company (Detail) - Kraft Heinz (previously Heinz Holding) [Member] - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Schedule of Equity Method Investments [Line Items] | ||
Common stock | $ 15,711 | $ 15,714 |
Preferred Stock | 7,710 | |
Investments in The Kraft Heinz Company | $ 15,711 | $ 23,424 |
Investments in The Kraft Hein63
Investments in The Kraft Heinz Company - Consolidated financial information (Detail) - Kraft Heinz (previously Heinz Holding) [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Oct. 02, 2016 | Sep. 27, 2015 | Oct. 02, 2016 | Sep. 27, 2015 | Jan. 03, 2016 | |
Schedule of Equity Method Investments [Line Items] | |||||
Assets | $ 122,973 | ||||
Liabilities | $ 56,737 | ||||
Sales | $ 6,120 | $ 11,214 | |||
Net earnings (loss) attributable to common shareholders | $ (303) | $ (551) | |||
Subsequent Event [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Assets | $ 121,080 | $ 121,080 | |||
Liabilities | 63,212 | 63,212 | |||
Sales | 6,267 | 19,630 | |||
Net earnings (loss) attributable to common shareholders | $ 842 | $ 2,508 |
Income taxes - Narrative (Detai
Income taxes - Narrative (Detail) - USD ($) $ in Millions | Feb. 29, 2016 | Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 |
Income Taxes [Line Items] | |||||
Effective income tax rate | 30.30% | 32.30% | 25.80% | 31.60% | |
Investment gains/losses | $ 3,150 | $ 8,266 | $ 5,643 | $ 8,725 | |
Common Stock [Member] | Procter & Gamble Company [Member] | Duracell Company [Member] | |||||
Income Taxes [Line Items] | |||||
Investment gains/losses | $ 1,100 | 1,100 | |||
Reduction of certain deferred income tax liabilities | $ 750 | ||||
Effective income tax rate reduction related to exchange of investment securities | 4.70% |
Investment gains_losses (Detail
Investment gains/losses (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Gain (Loss) on Investments [Line Items] | ||||
Other-than-temporary impairment losses | $ (26) | $ (63) | $ (26) | |
Investment gains/losses | $ 3,150 | 8,266 | 5,643 | 8,725 |
Fixed Maturities [Member] | ||||
Gain (Loss) on Investments [Line Items] | ||||
Gross gains from sales and redemptions | 5 | 6 | 44 | 88 |
Gross losses from sales and redemptions | (24) | (44) | (41) | (128) |
Equity Securities [Member] | ||||
Gain (Loss) on Investments [Line Items] | ||||
Gross gains from sales and redemptions | 3,173 | 8,407 | 5,720 | 8,855 |
Gross losses from sales and redemptions | (13) | (75) | (76) | (95) |
Other Types of Investments [Member] | ||||
Gain (Loss) on Investments [Line Items] | ||||
Other investment gains/losses | $ 9 | $ (2) | $ 59 | $ 31 |
Investment gains_losses - Narra
Investment gains/losses - Narrative (Detail) - USD ($) $ in Millions | Feb. 29, 2016 | Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 |
Gain (Loss) on Investments [Line Items] | |||||
Investment gains/losses | $ 3,150 | $ 8,266 | $ 5,643 | $ 8,725 | |
Kraft Heinz (previously Heinz Holding) [Member] | Cumulative Compounding Preferred Stock [Member] | |||||
Gain (Loss) on Investments [Line Items] | |||||
Investment gains/losses | 610 | ||||
Kraft Heinz (previously Heinz Holding) [Member] | Common Stock [Member] | |||||
Gain (Loss) on Investments [Line Items] | |||||
Non-cash pre-tax holding gain | $ 6,800 | $ 6,800 | |||
Wm. Wrigley Jr. Company [Member] | Preferred Stock [Member] | |||||
Gain (Loss) on Investments [Line Items] | |||||
Investment gains/losses | $ 2,400 | 2,400 | |||
Duracell Company [Member] | Procter & Gamble Company [Member] | Common Stock [Member] | |||||
Gain (Loss) on Investments [Line Items] | |||||
Investment gains/losses | $ 1,100 | $ 1,100 |
Inventories (Detail)
Inventories (Detail) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Inventory Disclosure [Abstract] | ||
Raw materials | $ 2,909 | $ 1,852 |
Work in process and other | 2,461 | 778 |
Finished manufactured goods | 4,287 | 3,369 |
Goods acquired for resale | 6,106 | 5,917 |
Total inventory | $ 15,763 | $ 11,916 |
Inventories - Narrative (Detail
Inventories - Narrative (Detail) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Inventory [Line Items] | ||
Total inventory | $ 15,763 | $ 11,916 |
Precision Castparts and Duracell [Member] | ||
Inventory [Line Items] | ||
Total inventory | $ 3,600 |
Receivables (Detail)
Receivables (Detail) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Finance and Financial Products [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and finance receivables before allowances and discounts | $ 13,663 | $ 13,186 |
Allowances for uncollectible loans | (183) | (182) |
Unamortized acquisition discounts | (267) | (232) |
Total loans and finance receivables of finance and financial products businesses | 13,213 | 12,772 |
Insurance and Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Insurance premiums receivable | 10,226 | 8,843 |
Reinsurance recoverable on unpaid losses | 3,482 | 3,307 |
Trade and other receivables | 14,181 | 11,521 |
Allowances for uncollectible accounts | (345) | (368) |
Total receivables of insurance and other businesses | $ 27,544 | $ 23,303 |
Receivables - Narrative (Detail
Receivables - Narrative (Detail) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Precision Castparts and Duracell [Member] | Insurance and Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Trade and other receivables, net | $ 1,900 | |
Loans and finance receivables [Member] | Finance and Financial Products [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Provisions for loan losses | 124 | $ 119 |
Loan charge-offs, net of recoveries | $ 123 | $ 136 |
Percent of loan balances evaluated collectively for impairment | 98.00% | |
Percent of loan balances that are performing | 98.00% | |
Percent of loan balances that are current as to payment status | 94.00% |
Property, plant and equipment71
Property, plant and equipment (Detail) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | |
Insurance and Other [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | $ 34,965 | $ 29,617 |
Property, plant and equipment, accumulated depreciation | (15,639) | (14,077) |
Total property, plant and equipment, net | 19,326 | 15,540 |
Insurance and Other [Member] | Buildings and improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 8,315 | 7,329 |
Insurance and Other [Member] | Machinery and equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 20,103 | 17,054 |
Insurance and Other [Member] | Furniture, fixtures and other [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 4,419 | 3,545 |
Insurance and Other [Member] | Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 2,128 | 1,689 |
Railroad [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 66,570 | 64,355 |
Property, plant and equipment, accumulated depreciation | (5,673) | (4,845) |
Total property, plant and equipment, net | 60,897 | 59,510 |
Railroad [Member] | Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 6,060 | 6,037 |
Railroad [Member] | Track structure and other roadway [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 47,586 | 45,967 |
Railroad [Member] | Locomotives, freight cars and other equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 11,860 | 11,320 |
Railroad [Member] | Construction in progress [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 1,064 | 1,031 |
Utilities and Energy [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 86,413 | 84,256 |
Property, plant and equipment, accumulated depreciation | (24,305) | (23,487) |
Total property, plant and equipment, net | 62,108 | 60,769 |
Utilities and Energy [Member] | Utility generation, transmission and distribution systems [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 70,316 | 69,248 |
Utilities and Energy [Member] | Interstate natural gas pipeline assets [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 6,866 | 6,755 |
Utilities and Energy [Member] | Independent power plants and other assets [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 6,056 | 5,626 |
Utilities and Energy [Member] | Construction in progress [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 3,175 | 2,627 |
Finance and Financial Products [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment and assets held for lease, gross | 13,418 | 12,744 |
Property, plant and equipment and assets held for lease, accumulated depreciation | (3,681) | (3,397) |
Total property, plant and equipment and assets held for lease, net | 9,737 | 9,347 |
Finance and Financial Products [Member] | Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment and assets held for lease, gross | 223 | 220 |
Finance and Financial Products [Member] | Assets held for lease [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment and assets held for lease, gross | 11,906 | 11,317 |
Finance and Financial Products [Member] | Buildings, machinery and other [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment and assets held for lease, gross | $ 1,289 | $ 1,207 |
Minimum [Member] | Insurance and Other [Member] | Buildings and improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful life (in years) | 5 years | |
Minimum [Member] | Insurance and Other [Member] | Machinery and equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful life (in years) | 3 years | |
Minimum [Member] | Insurance and Other [Member] | Furniture, fixtures and other [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful life (in years) | 2 years | |
Minimum [Member] | Railroad [Member] | Track structure and other roadway [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful life (in years) | 7 years | |
Minimum [Member] | Railroad [Member] | Locomotives, freight cars and other equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful life (in years) | 6 years | |
Minimum [Member] | Utilities and Energy [Member] | Utility generation, transmission and distribution systems [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful life (in years) | 5 years | |
Minimum [Member] | Utilities and Energy [Member] | Interstate natural gas pipeline assets [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful life (in years) | 3 years | |
Minimum [Member] | Utilities and Energy [Member] | Independent power plants and other assets [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful life (in years) | 3 years | |
Minimum [Member] | Finance and Financial Products [Member] | Assets held for lease [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful life (in years) | 5 years | |
Minimum [Member] | Finance and Financial Products [Member] | Buildings, machinery and other [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful life (in years) | 3 years | |
Maximum [Member] | Insurance and Other [Member] | Buildings and improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful life (in years) | 40 years | |
Maximum [Member] | Insurance and Other [Member] | Machinery and equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful life (in years) | 25 years | |
Maximum [Member] | Insurance and Other [Member] | Furniture, fixtures and other [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful life (in years) | 15 years | |
Maximum [Member] | Railroad [Member] | Track structure and other roadway [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful life (in years) | 100 years | |
Maximum [Member] | Railroad [Member] | Locomotives, freight cars and other equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful life (in years) | 40 years | |
Maximum [Member] | Utilities and Energy [Member] | Utility generation, transmission and distribution systems [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful life (in years) | 80 years | |
Maximum [Member] | Utilities and Energy [Member] | Interstate natural gas pipeline assets [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful life (in years) | 80 years | |
Maximum [Member] | Utilities and Energy [Member] | Independent power plants and other assets [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful life (in years) | 30 years | |
Maximum [Member] | Finance and Financial Products [Member] | Assets held for lease [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful life (in years) | 35 years | |
Maximum [Member] | Finance and Financial Products [Member] | Buildings, machinery and other [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful life (in years) | 50 years |
Property, plant and equipment -
Property, plant and equipment - Narrative (Detail) - Insurance and Other [Member] - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Property, Plant and Equipment [Line Items] | ||
Total property, plant and equipment, net | $ 19,326 | $ 15,540 |
Precision Castparts and Duracell [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property, plant and equipment, net | $ 3,300 |
Property, plant and equipment a
Property, plant and equipment and assets held for lease - Depreciation expense (Detail) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Property, Plant and Equipment [Line Items] | ||
Depreciation expense | $ 5,520 | $ 4,963 |
Insurance and Other [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Depreciation expense | 1,595 | 1,240 |
Railroad, Utilities and Energy [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Depreciation expense | 3,459 | 3,276 |
Finance and Financial Products [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Depreciation expense | $ 466 | $ 447 |
Goodwill and other intangible74
Goodwill and other intangible assets - Goodwill (Detail) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Dec. 31, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Balance at beginning of year | $ 62,708 | $ 60,714 |
Acquisitions of businesses | 17,016 | 2,563 |
Other, including foreign currency translation | (332) | (569) |
Balance at end of period | $ 79,392 | $ 62,708 |
Goodwill and other intangible75
Goodwill and other intangible assets - Intangible assets (Detail) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | $ 42,472 | $ 15,498 |
Accumulated amortization | 6,820 | 5,701 |
Trademarks and trade names [Member] | ||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 6,049 | 3,041 |
Accumulated amortization | 821 | 765 |
Patents and technology [Member] | ||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 4,455 | 4,252 |
Accumulated amortization | 2,329 | 2,050 |
Customer relationships [Member] | ||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 28,851 | 5,474 |
Accumulated amortization | 2,721 | 2,131 |
Other intangible assets [Member] | ||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 3,117 | 2,731 |
Accumulated amortization | 949 | 755 |
Insurance and Other [Member] | ||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 41,575 | 14,610 |
Accumulated amortization | 6,541 | 5,462 |
Railroad, Utilities and Energy [Member] | ||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 897 | 888 |
Accumulated amortization | $ 279 | $ 239 |
Goodwill and other intangible76
Goodwill and other intangible assets - Intangible assets - Narrative (Detail) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | |||
Amortization expense | $ 1,085 | $ 837 | |
Precision Castparts and Duracell [Member] | |||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | |||
Other intangible assets | 26,200 | ||
Intangible assets with indefinite lives, excluding goodwill | 17,600 | ||
Indefinite-Lived Intangible Assets Excluding Business Acquisitions Completed in 2016 [Member] | |||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | |||
Intangible assets with indefinite lives, excluding goodwill | $ 3,000 | $ 3,000 |
Derivative contracts (Detail)
Derivative contracts (Detail) - Finance and Financial Products [Member] - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 | |
Derivative [Line Items] | |||
Liabilities | $ 3,973 | $ 3,836 | |
Not Designated as Hedging Instrument [Member] | |||
Derivative [Line Items] | |||
Liabilities | 3,973 | 3,836 | |
Not Designated as Hedging Instrument [Member] | Equity Index Put Options [Member] | |||
Derivative [Line Items] | |||
Liabilities | 3,973 | 3,552 | |
Notional Value | [1] | $ 27,982 | 27,722 |
Not Designated as Hedging Instrument [Member] | Credit Default [Member] | |||
Derivative [Line Items] | |||
Liabilities | [2] | 284 | |
Notional Value | [2] | $ 7,792 | |
[1] | Represents the aggregate undiscounted amounts payable assuming that the value of each index is zero at each contract's expiration date. Certain of these contracts are denominated in foreign currencies. Notional amounts are based on the foreign currency exchange rates as of each balance sheet date. | ||
[2] | In July 2016, our remaining credit default contract was terminated by mutual agreement with the counterparty. We no longer have any exposure to losses under credit default contracts. |
Derivative contracts - gains an
Derivative contracts - gains and losses (Detail) - Finance and Financial Products [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Derivative gains/losses | $ 458 | $ (764) | $ (332) | $ 380 |
Not Designated as Hedging Instrument [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Derivative gains/losses | 458 | (764) | (332) | 380 |
Not Designated as Hedging Instrument [Member] | Equity Index Put Options [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Derivative gains/losses | $ 458 | (802) | (421) | 371 |
Not Designated as Hedging Instrument [Member] | Credit Default [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Derivative gains/losses | $ 38 | $ 89 | $ 9 |
Derivative contracts - Narrativ
Derivative contracts - Narrative (Detail) - USD ($) | 9 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | |
Not Designated as Hedging Instrument [Member] | Other Assets [Member] | ||
Derivative [Line Items] | ||
Assets | $ 105,000,000 | $ 103,000,000 |
Not Designated as Hedging Instrument [Member] | Accounts Payable, Accruals and Other Liabilities [Member] | ||
Derivative [Line Items] | ||
Liabilities | 198,000,000 | 237,000,000 |
Finance and Financial Products [Member] | ||
Derivative [Line Items] | ||
Liabilities | 3,973,000,000 | 3,836,000,000 |
Finance and Financial Products [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Collateral posting requirements under contracts with collateral provisions | 0 | |
Additional collateral posting requirements | 1,100,000,000 | |
Liabilities | 3,973,000,000 | 3,836,000,000 |
Finance and Financial Products [Member] | Not Designated as Hedging Instrument [Member] | Equity Index Put Options [Member] | ||
Derivative [Line Items] | ||
Aggregate intrinsic value of equity index put option contracts | $ 1,600,000,000 | 1,100,000,000 |
Weighted average remaining life of derivative contracts | 4 years 2 months 12 days | |
Liabilities | $ 3,973,000,000 | $ 3,552,000,000 |
Minimum [Member] | Finance and Financial Products [Member] | Not Designated as Hedging Instrument [Member] | Equity Index Put Options [Member] | ||
Derivative [Line Items] | ||
Derivative maturity month and year | 2018-06 | |
Maximum [Member] | Finance and Financial Products [Member] | Not Designated as Hedging Instrument [Member] | Equity Index Put Options [Member] | ||
Derivative [Line Items] | ||
Derivative maturity month and year | 2026-01 |
Supplemental cash flow inform80
Supplemental cash flow information (Detail) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Supplemental Cash Flow Information [Line Items] | ||
Cash paid during the period for income taxes | $ 2,237 | $ 2,575 |
Liabilities assumed in connection with business acquisitions | 17,319 | 2,792 |
Equity securities exchanged in connection with business acquisition | 4,239 | |
Insurance and Other [Member] | ||
Supplemental Cash Flow Information [Line Items] | ||
Cash paid during the period for interest | 499 | 312 |
Railroad, Utilities and Energy [Member] | ||
Supplemental Cash Flow Information [Line Items] | ||
Cash paid during the period for interest | 2,130 | 2,043 |
Finance and Financial Products [Member] | ||
Supplemental Cash Flow Information [Line Items] | ||
Cash paid during the period for interest | $ 263 | $ 274 |
Notes payable and other borro81
Notes payable and other borrowings (Detail) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | |
Insurance and Other [Member] | ||
Debt Instrument [Line Items] | ||
Notes payable and other borrowings | $ 27,514 | $ 14,599 |
Insurance and Other [Member] | Berkshire Hathaway Inc. (Parent) [Member] | ||
Debt Instrument [Line Items] | ||
Notes payable and other borrowings | $ 18,108 | 9,799 |
Weighted average interest rate, percentage | 2.20% | |
Insurance and Other [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Debt maturity year | 2,016 | |
Insurance and Other [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Debt maturity year | 2,047 | |
Insurance and Other [Member] | Insurance and Other Subsidiaries [Member] | ||
Debt Instrument [Line Items] | ||
Short-term borrowings | $ 2,019 | 1,989 |
Other borrowings | $ 7,387 | 2,811 |
Short-term debt, weighted average interest rate | 2.20% | |
Weighted average interest rate, percentage | 4.00% | |
Insurance and Other [Member] | Insurance and Other Subsidiaries [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Debt maturity year | 2,016 | |
Insurance and Other [Member] | Insurance and Other Subsidiaries [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Debt maturity year | 2,044 | |
Railroad, Utilities and Energy [Member] | ||
Debt Instrument [Line Items] | ||
Notes payable and other borrowings | $ 58,811 | 57,739 |
Railroad, Utilities and Energy [Member] | Berkshire Hathaway Energy [Member] | ||
Debt Instrument [Line Items] | ||
Weighted average interest rate, percentage | 5.10% | |
Senior unsecured debt | $ 7,817 | 7,814 |
Railroad, Utilities and Energy [Member] | Berkshire Hathaway Energy [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Debt maturity year | 2,017 | |
Railroad, Utilities and Energy [Member] | Berkshire Hathaway Energy [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Debt maturity year | 2,045 | |
Railroad, Utilities and Energy [Member] | Berkshire Hathaway Energy Subsidiaries [Member] | ||
Debt Instrument [Line Items] | ||
Notes payable and other borrowings | $ 28,828 | 28,188 |
Weighted average interest rate, percentage | 4.70% | |
Railroad, Utilities and Energy [Member] | Berkshire Hathaway Energy Subsidiaries [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Debt maturity year | 2,016 | |
Railroad, Utilities and Energy [Member] | Berkshire Hathaway Energy Subsidiaries [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Debt maturity year | 2,064 | |
Railroad, Utilities and Energy [Member] | BNSF [Member] | ||
Debt Instrument [Line Items] | ||
Notes payable and other borrowings | $ 22,166 | 21,737 |
Weighted average interest rate, percentage | 4.80% | |
Railroad, Utilities and Energy [Member] | BNSF [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Debt maturity year | 2,016 | |
Railroad, Utilities and Energy [Member] | BNSF [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Debt maturity year | 2,097 | |
Finance and Financial Products [Member] | ||
Debt Instrument [Line Items] | ||
Notes payable and other borrowings | $ 15,473 | 11,951 |
Finance and Financial Products [Member] | Berkshire Hathaway Finance Corporation [Member] | ||
Debt Instrument [Line Items] | ||
Notes payable and other borrowings | $ 14,421 | 10,679 |
Weighted average interest rate, percentage | 2.50% | |
Finance and Financial Products [Member] | Berkshire Hathaway Finance Corporation [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Debt maturity year | 2,017 | |
Finance and Financial Products [Member] | Berkshire Hathaway Finance Corporation [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Debt maturity year | 2,043 | |
Finance and Financial Products [Member] | Other Finance Subsidiaries [Member] | ||
Debt Instrument [Line Items] | ||
Notes payable and other borrowings | $ 1,052 | $ 1,272 |
Weighted average interest rate, percentage | 5.00% | |
Finance and Financial Products [Member] | Other Finance Subsidiaries [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Debt maturity year | 2,016 | |
Finance and Financial Products [Member] | Other Finance Subsidiaries [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Debt maturity year | 2,036 |
Notes payable and other borro82
Notes payable and other borrowings - Credit agreements - Narrative (Detail) - USD ($) | Jan. 29, 2016 | Jan. 08, 2016 | Sep. 30, 2016 |
Revolving Credit Agreement [Member] | Berkshire Hathaway Inc. (Parent) [Member] | |||
Line of Credit Facility [Line Items] | |||
Maximum borrowing capacity | $ 10,000,000,000 | ||
Term of credit agreement | 364 days | ||
Precision Castparts Corp. [Member] | Revolving Credit Agreement [Member] | Berkshire Hathaway Inc. (Parent) [Member] | |||
Line of Credit Facility [Line Items] | |||
Borrowings under credit agreement | $ 10,000,000,000 | ||
Line of Credit and Commercial Paper Facilities [Member] | Berkshire Hathaway Subsidiaries [Member] | |||
Line of Credit Facility [Line Items] | |||
Unused lines of credit available | $ 8,200,000,000 | ||
Line of Credit and Commercial Paper Facilities [Member] | Berkshire Hathaway Energy Company and Subsidiaries [Member] | |||
Line of Credit Facility [Line Items] | |||
Unused lines of credit available | 4,000,000,000 | ||
Subsidiaries Excluding Berkshire Hathaway Finance Corporation [Member] | Berkshire Hathaway Inc. (Parent) [Member] | |||
Line of Credit Facility [Line Items] | |||
Guarantee obligation | $ 3,200,000,000 |
Notes payable and other borro83
Notes payable and other borrowings - Narrative (Detail) € in Millions, $ in Millions | 1 Months Ended | ||||
Aug. 31, 2016USD ($) | Sep. 30, 2016USD ($) | May 31, 2016USD ($) | Mar. 31, 2016USD ($) | Mar. 31, 2016EUR (€) | |
Berkshire Hathaway Inc. (Parent) [Member] | |||||
Debt Instrument [Line Items] | |||||
Repayments of borrowings | $ 750 | ||||
Insurance and Other Subsidiaries [Member] | Precision Castparts Corp. [Member] | |||||
Debt Instrument [Line Items] | |||||
Other borrowings | $ 4,700 | ||||
Berkshire Hathaway Finance Corporation [Member] | Finance and Financial Products [Member] | |||||
Debt Instrument [Line Items] | |||||
Repayments of borrowings | 1,000 | ||||
Debentures Due 2046 at 3.9% [Member] | BNSF [Member] | Railroad, Utilities and Energy [Member] | |||||
Debt Instrument [Line Items] | |||||
Principal amount of debt issued | $ 750 | ||||
Debt instrument, interest rate, stated percentage | 3.90% | ||||
Senior Unsecured Notes [Member] | Berkshire Hathaway Inc. (Parent) [Member] | |||||
Debt Instrument [Line Items] | |||||
Principal amount of debt issued | 750 | € 2,750 | |||
Senior Unsecured Notes [Member] | Notes Due 2020 at 0.50% [Member] | Berkshire Hathaway Inc. (Parent) [Member] | |||||
Debt Instrument [Line Items] | |||||
Principal amount of debt issued | € | € 1,000 | ||||
Debt instrument, interest rate, stated percentage | 0.50% | 0.50% | |||
Senior Unsecured Notes [Member] | Notes Due 2024 at 1.30% [Member] | Berkshire Hathaway Inc. (Parent) [Member] | |||||
Debt Instrument [Line Items] | |||||
Principal amount of debt issued | € | € 1,000 | ||||
Debt instrument, interest rate, stated percentage | 1.30% | 1.30% | |||
Senior Unsecured Notes [Member] | Notes Due 2028 at 2.15% [Member] | Berkshire Hathaway Inc. (Parent) [Member] | |||||
Debt Instrument [Line Items] | |||||
Principal amount of debt issued | € | € 750 | ||||
Debt instrument, interest rate, stated percentage | 2.15% | 2.15% | |||
Senior Unsecured Notes [Member] | Notes Due 2018 at 1.15% [Member] | Berkshire Hathaway Inc. (Parent) [Member] | |||||
Debt Instrument [Line Items] | |||||
Principal amount of debt issued | $ 500 | ||||
Debt instrument, interest rate, stated percentage | 1.15% | ||||
Senior Unsecured Notes [Member] | Notes Due 2018, Floating Rate [Member] | Berkshire Hathaway Inc. (Parent) [Member] | |||||
Debt Instrument [Line Items] | |||||
Principal amount of debt issued | $ 250 | ||||
Additional Senior Unsecured Notes [Member] | Berkshire Hathaway Inc. (Parent) [Member] | |||||
Debt Instrument [Line Items] | |||||
Principal amount of debt issued | $ 5,500 | ||||
Additional Senior Unsecured Notes [Member] | Notes Due 2021 at 2.20% [Member] | Berkshire Hathaway Inc. (Parent) [Member] | |||||
Debt Instrument [Line Items] | |||||
Principal amount of debt issued | $ 1,000 | ||||
Debt instrument, interest rate, stated percentage | 2.20% | 2.20% | |||
Additional Senior Unsecured Notes [Member] | Notes Due 2023 at 2.75% [Member] | Berkshire Hathaway Inc. (Parent) [Member] | |||||
Debt Instrument [Line Items] | |||||
Principal amount of debt issued | $ 2,000 | ||||
Debt instrument, interest rate, stated percentage | 2.75% | 2.75% | |||
Additional Senior Unsecured Notes [Member] | Notes Due 2026 at 3.125% [Member] | Berkshire Hathaway Inc. (Parent) [Member] | |||||
Debt Instrument [Line Items] | |||||
Principal amount of debt issued | $ 2,500 | ||||
Debt instrument, interest rate, stated percentage | 3.125% | 3.125% | |||
Senior Notes [Member] | Berkshire Hathaway Finance Corporation [Member] | Finance and Financial Products [Member] | |||||
Debt Instrument [Line Items] | |||||
Principal amount of debt issued | 1,250 | $ 3,500 | |||
Senior Notes [Member] | Notes Due 2018, Floating Rate [Member] | Berkshire Hathaway Finance Corporation [Member] | Finance and Financial Products [Member] | |||||
Debt Instrument [Line Items] | |||||
Principal amount of debt issued | 1,000 | ||||
Senior Notes [Member] | Notes Due 2018 at 1.45% [Member] | Berkshire Hathaway Finance Corporation [Member] | Finance and Financial Products [Member] | |||||
Debt Instrument [Line Items] | |||||
Principal amount of debt issued | $ 750 | ||||
Debt instrument, interest rate, stated percentage | 1.45% | 1.45% | |||
Senior Notes [Member] | Notes Due 2019 at 1.70% [Member] | Berkshire Hathaway Finance Corporation [Member] | Finance and Financial Products [Member] | |||||
Debt Instrument [Line Items] | |||||
Principal amount of debt issued | $ 1,250 | ||||
Debt instrument, interest rate, stated percentage | 1.70% | 1.70% | |||
Senior Notes [Member] | Notes Due 2019, Floating Rate [Member] | Berkshire Hathaway Finance Corporation [Member] | Finance and Financial Products [Member] | |||||
Debt Instrument [Line Items] | |||||
Principal amount of debt issued | 250 | $ 500 | |||
Senior Notes [Member] | Notes Due 2019 at 1.30% [Member] | Berkshire Hathaway Finance Corporation [Member] | Finance and Financial Products [Member] | |||||
Debt Instrument [Line Items] | |||||
Principal amount of debt issued | $ 1,000 | ||||
Debt instrument, interest rate, stated percentage | 1.30% |
Fair value measurements - Finan
Fair value measurements - Financial assets and liabilities (Detail) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in equity securities | $ 102,535 | [1] | $ 111,822 | [2] | |
Investments in fixed maturity securities | 24,647 | 26,027 | |||
Railroad, Utilities and Energy [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Notes payable and other borrowings - carrying value | 58,811 | 57,739 | |||
Finance and Financial Products [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in equity securities | 302 | 372 | |||
Investments in fixed maturity securities | 34 | 39 | |||
Other investments | 2,078 | 5,719 | |||
Loans and finance receivables - carrying value | 13,213 | 12,772 | |||
Derivative contract liabilities | 3,973 | 3,836 | |||
Notes payable and other borrowings - carrying value | 15,473 | 11,951 | |||
Insurance and Other [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in equity securities | 100,757 | 110,212 | |||
Investments in fixed maturity securities | 24,613 | 25,988 | |||
Other investments | 15,415 | 15,998 | |||
Notes payable and other borrowings - carrying value | 27,514 | 14,599 | |||
Other Assets [Member] | Railroad, Utilities and Energy [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in equity securities | [3] | 1,476 | 1,238 | ||
Kraft Heinz (previously Heinz Holding) [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment in Kraft Heinz common stock - carrying value | 15,711 | 15,714 | |||
Investment in Kraft Heinz Preferred Stock - carrying value | 7,710 | ||||
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 | 4,565 | 3,427 | |||
States, municipalities and political subdivisions [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 1,279 | 1,764 | |||
Foreign governments [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 9,795 | 11,468 | |||
Corporate bonds [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 7,789 | 7,926 | |||
Mortgage-backed securities [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 1,219 | 1,442 | |||
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 | 102,534 | 111,786 | |||
Other investments | 376 | 315 | |||
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 | 35 | ||||
Loans and finance receivables - fair value | 14 | 16 | |||
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 - fair value | 69,130 | 62,471 | |||
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Finance and Financial Products [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Notes payable and other borrowings - fair value | 15,862 | 11,887 | |||
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 - fair value | 29,119 | 14,773 | |||
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 | 1 | 1 | |||
Other investments | 17,117 | 21,402 | |||
Loans and finance receivables - fair value | 13,636 | 13,096 | |||
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Finance and Financial Products [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Notes payable and other borrowings - fair value | 389 | 476 | |||
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Finance and Financial Products [Member] | Equity Index Put Options [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative contract liabilities | 3,973 | 3,552 | |||
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Finance and Financial Products [Member] | Credit Default [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative contract liabilities | 284 | ||||
Fair Value, Measurements, Recurring [Member] | Other Assets [Member] | Quoted Prices (Level 1) [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative contract assets | [4] | 1 | |||
Fair Value, Measurements, Recurring [Member] | Other Assets [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative contract assets | [4] | 5 | 5 | ||
Fair Value, Measurements, Recurring [Member] | Other Assets [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative contract assets | [4] | 99 | 98 | ||
Fair Value, Measurements, Recurring [Member] | Accounts Payable, Accruals and Other Liabilities [Member] | Quoted Prices (Level 1) [Member] | Railroad, Utilities and Energy [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative contract liabilities | [4] | 5 | 13 | ||
Fair Value, Measurements, Recurring [Member] | Accounts Payable, Accruals and Other Liabilities [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] | |||||
Derivative contract liabilities | [4] | 161 | 177 | ||
Fair Value, Measurements, Recurring [Member] | Accounts Payable, Accruals and Other Liabilities [Member] | Significant Unobservable Inputs (Level 3) [Member] | Railroad, Utilities and Energy [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative contract liabilities | [4] | 32 | 47 | ||
Fair Value, Measurements, Recurring [Member] | Kraft Heinz (previously Heinz Holding) [Member] | Quoted Prices (Level 1) [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment in Kraft Heinz common stock - fair value | 29,130 | 23,679 | |||
Fair Value, Measurements, Recurring [Member] | Kraft Heinz (previously Heinz Holding) [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment in Kraft Heinz Preferred Stock - fair value | 8,363 | ||||
Fair Value, Measurements, Recurring [Member] | U.S. Treasury, U.S. government corporations and agencies [Member] | Quoted Prices (Level 1) [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 3,318 | 2,485 | |||
Fair Value, Measurements, Recurring [Member] | U.S. Treasury, U.S. government corporations and agencies [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 1,247 | 942 | |||
Fair Value, Measurements, Recurring [Member] | States, municipalities and political subdivisions [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 1,279 | 1,764 | |||
Fair Value, Measurements, Recurring [Member] | Foreign governments [Member] | Quoted Prices (Level 1) [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 7,704 | 9,188 | |||
Fair Value, Measurements, Recurring [Member] | Foreign governments [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 2,091 | 2,280 | |||
Fair Value, Measurements, Recurring [Member] | Corporate bonds [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 7,682 | 7,826 | |||
Fair Value, Measurements, Recurring [Member] | Corporate bonds [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 107 | 100 | |||
Fair Value, Measurements, Recurring [Member] | Mortgage-backed securities [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 1,219 | 1,442 | |||
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 | 102,535 | 111,822 | |||
Other investments | 17,493 | 21,717 | |||
Loans and finance receivables - carrying value | 13,213 | 12,772 | |||
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 - carrying value | 58,811 | 57,739 | |||
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | Finance and Financial Products [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Notes payable and other borrowings - carrying value | 15,473 | 11,951 | |||
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | Finance and Financial Products [Member] | Equity Index Put Options [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative contract liabilities | 3,973 | 3,552 | |||
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | Finance and Financial Products [Member] | Credit Default [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative contract liabilities | 284 | ||||
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 - carrying value | 27,514 | 14,599 | |||
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | Other Assets [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative contract assets | [4] | 105 | 103 | ||
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | Accounts Payable, Accruals and Other Liabilities [Member] | Railroad, Utilities and Energy [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative contract liabilities | [4] | 198 | 237 | ||
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | Kraft Heinz (previously Heinz Holding) [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment in Kraft Heinz common stock - carrying value | 15,711 | 15,714 | |||
Investment in Kraft Heinz Preferred Stock - carrying value | 7,710 | ||||
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 | 4,565 | 3,427 | |||
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | States, municipalities and political subdivisions [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 1,279 | 1,764 | |||
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 | 9,795 | 11,468 | |||
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 | 7,789 | 7,926 | |||
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | Mortgage-backed securities [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 1,219 | 1,442 | |||
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 | 102,535 | 111,822 | |||
Other investments | 17,493 | 21,717 | |||
Loans and finance receivables - fair value | 13,650 | 13,112 | |||
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 - fair value | 69,130 | 62,471 | |||
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | Finance and Financial Products [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Notes payable and other borrowings - fair value | 16,251 | 12,363 | |||
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | Finance and Financial Products [Member] | Equity Index Put Options [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative contract liabilities | 3,973 | 3,552 | |||
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | Finance and Financial Products [Member] | Credit Default [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative contract liabilities | 284 | ||||
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 - fair value | 29,119 | 14,773 | |||
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | Other Assets [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative contract assets | [4] | 105 | 103 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | Accounts Payable, Accruals and Other Liabilities [Member] | Railroad, Utilities and Energy [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative contract liabilities | [4] | 198 | 237 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | Kraft Heinz (previously Heinz Holding) [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment in Kraft Heinz common stock - fair value | 29,130 | 23,679 | |||
Investment in Kraft Heinz Preferred Stock - fair value | 8,363 | ||||
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 | 4,565 | 3,427 | |||
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | States, municipalities and political subdivisions [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 1,279 | 1,764 | |||
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 | 9,795 | 11,468 | |||
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 | 7,789 | 7,926 | |||
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | Mortgage-backed securities [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | $ 1,219 | $ 1,442 | |||
[1] | Approximately 60% of the aggregate fair value was concentrated in the equity securities of four companies (American Express Company - $9.7 billion; Wells Fargo & Company - $22.1 billion; International Business Machines Corporation ("IBM") - $12.9 billion; and The Coca-Cola Company - $16.9 billion). | ||||
[2] | Approximately 59% of the aggregate fair value was concentrated in the equity securities of four companies (American Express Company - $10.5 billion; Wells Fargo & Company - $27.2 billion; IBM - $11.2 billion; and The Coca-Cola Company - $17.2 billion). | ||||
[3] | Included in other assets. | ||||
[4] | Assets are included in other assets and liabilities are included in accounts payable, accruals and other liabilities. |
Fair value measurements - Signi
Fair value measurements - Significant unobservable inputs (Detail) - Significant Unobservable Inputs (Level 3) [Member] - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Net Derivative Contract Liabilities [Member] | ||
Fair Value Measurements Significant Unobservable Inputs [Line Items] | ||
Beginning Balance | $ (3,785) | $ (4,759) |
Gains (losses) included in earnings | (221) | 467 |
Gains (losses) included in other comprehensive income | (2) | (5) |
Gains (losses) included in regulatory assets and liabilities | (12) | (21) |
Acquisitions, dispositions and settlements | (81) | (65) |
Transfers into/out of Level 3 | 195 | 3 |
Ending Balance | (3,906) | (4,380) |
Fixed Maturities [Member] | ||
Fair Value Measurements Significant Unobservable Inputs [Line Items] | ||
Beginning Balance | 100 | 8 |
Gains (losses) included in other comprehensive income | 3 | |
Acquisitions, dispositions and settlements | 5 | 103 |
Transfers into/out of Level 3 | (1) | |
Ending Balance | 107 | 111 |
Equity Securities and Other Investments [Member] | ||
Fair Value Measurements Significant Unobservable Inputs [Line Items] | ||
Beginning Balance | 21,403 | 21,996 |
Gains (losses) included in earnings | 2,409 | |
Gains (losses) included in other comprehensive income | (2,233) | (1,722) |
Acquisitions, dispositions and settlements | (4,461) | |
Ending Balance | $ 17,118 | $ 20,274 |
Fair value measurements - Other
Fair value measurements - Other information (Detail) - Significant Unobservable Inputs (Level 3) [Member] $ in Millions | 9 Months Ended |
Sep. 30, 2016USD ($) | |
Other Investments [Member] | Preferred Stock [Member] | Discounted Cash Flow Method [Member] | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Fair value, unobservable input, expected duration | 6 years |
Fair value, unobservable input, discount for transferability restrictions and subordination | 1.59% |
Fair value of asset | $ 11,615 |
Other Investments [Member] | Common Stock Warrants [Member] | Pricing Model, Warrant [Member] | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Fair value, unobservable input, discount for transferability and hedging restrictions | 7.00% |
Fair value of asset | $ 5,502 |
Net Derivative Contract Liabilities [Member] | Equity Index Put Options [Member] | Pricing Model, Option [Member] | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Fair value, unobservable input, volatility | 21.00% |
Fair value of liability | $ 3,973 |
Common stock (Detail)
Common stock (Detail) - shares | 9 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | |
Class A [Member] | ||
Class of Stock [Line Items] | ||
Shares issued | 797,474 | 820,102 |
Treasury shares | (11,680) | (11,680) |
Shares outstanding | 785,794 | 808,422 |
Conversions of Class A common stock to Class B common stock and exercises of replacement stock options issued in a business acquisition | (22,628) | |
Class B [Member] | ||
Class of Stock [Line Items] | ||
Shares issued | 1,288,765,809 | 1,253,866,598 |
Treasury shares | (1,409,762) | (1,409,762) |
Shares outstanding | 1,287,356,047 | 1,252,456,836 |
Conversions of Class A common stock to Class B common stock and exercises of replacement stock options issued in a business acquisition | 34,899,211 |
Common stock (Parenthetical) (D
Common stock (Parenthetical) (Detail) | Sep. 30, 2016$ / sharesshares |
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 |
Common stock - Narrative (Detai
Common stock - Narrative (Detail) | 9 Months Ended | |
Sep. 30, 2016USD ($)Voteshares | Dec. 31, 2015shares | |
Class of Stock [Line Items] | ||
Preferred Stock, shares authorized | 1,000,000 | |
Preferred Stock, shares issued | 0 | |
Shares repurchase, authorization description | Berkshire's Board of Directors ("Berkshire's Board") has approved a common stock repurchase program under which Berkshire may repurchase its Class A and Class B shares at prices no higher than a 20% premium over the book value of the shares. | |
Minimum cash and cash equivalent threshold after repurchase of common stock shares, amount | $ | $ 20,000,000,000 | |
Class B [Member] | ||
Class of Stock [Line Items] | ||
Ratio of net earnings per equivalent common share and dividend and distribution rights of Class B shares to Class A shares | 0.000667 | |
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 | |
Class A [Member] | ||
Class of Stock [Line Items] | ||
Number of votes entitled per share, number | Vote | 1 | |
Class A equivalent shares outstanding | 1,644,031 | 1,643,393 |
Accumulated other comprehensi90
Accumulated other comprehensive income (Detail) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | $ 258,627 | $ 243,027 |
Ending Balance | 272,615 | 251,321 |
Unrealized appreciation of investments [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | 38,598 | 45,636 |
Other comprehensive income, net before reclassifications | (912) | (7,958) |
Reclassifications from accumulated other comprehensive income | (3,188) | (1,158) |
Ending Balance | 34,498 | 36,520 |
Foreign currency translation [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | (3,856) | (1,957) |
Other comprehensive income, net before reclassifications | (101) | (1,602) |
Reclassifications from accumulated other comprehensive income | 128 | |
Ending Balance | (3,957) | (3,431) |
Prior service and actuarial gains/losses of defined benefit pension plans [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | (762) | (1,039) |
Other comprehensive income, net before reclassifications | (39) | 162 |
Reclassifications from accumulated other comprehensive income | 59 | 1 |
Ending Balance | (742) | (876) |
Other AOCI transactions [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | 2 | 92 |
Other comprehensive income, net before reclassifications | (26) | (113) |
Reclassifications from accumulated other comprehensive income | 23 | 11 |
Ending Balance | (1) | (10) |
Accumulated other comprehensive income [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | 33,982 | 42,732 |
Other comprehensive income, net before reclassifications | (1,078) | (9,511) |
Reclassifications from accumulated other comprehensive income | (3,106) | (1,018) |
Ending Balance | $ 29,798 | $ 32,203 |
Accumulated other comprehensi91
Accumulated other comprehensive income - Reclassified Amounts (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Investment gains/losses | $ (3,150) | $ (8,266) | $ (5,643) | $ (8,725) |
Unrealized appreciation of investments [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Reclassifications before income taxes | (4,904) | (1,781) | ||
Applicable income taxes | (1,716) | (623) | ||
Total amounts reclassified from other comprehensive income into net earnings | (3,188) | (1,158) | ||
Unrealized appreciation of investments [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Investment gains/losses | (4,904) | (1,781) | ||
Foreign currency translation [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Reclassifications before income taxes | 197 | |||
Applicable income taxes | 69 | |||
Total amounts reclassified from other comprehensive income into net earnings | 128 | |||
Foreign currency translation [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Investment gains/losses | 197 | |||
Prior service and actuarial gains/losses of defined benefit pension plans [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Reclassifications before income taxes | 79 | 2 | ||
Applicable income taxes | 20 | 1 | ||
Total amounts reclassified from other comprehensive income into net earnings | 59 | 1 | ||
Prior service and actuarial gains/losses of defined benefit pension plans [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Other | 79 | 2 | ||
Other AOCI transactions [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Reclassifications before income taxes | 41 | 18 | ||
Applicable income taxes | 18 | 7 | ||
Total amounts reclassified from other comprehensive income into net earnings | 23 | 11 | ||
Other AOCI transactions [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Other | 41 | 18 | ||
Accumulated other comprehensive income [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Reclassifications before income taxes | (4,784) | (1,564) | ||
Applicable income taxes | (1,678) | (546) | ||
Total amounts reclassified from other comprehensive income into net earnings | (3,106) | (1,018) | ||
Accumulated other comprehensive income [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Investment gains/losses | (4,904) | (1,584) | ||
Other | $ 120 | $ 20 |
Contingencies and Commitments -
Contingencies and Commitments - Narrative (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | |
Berkadia Commercial Mortgage (investee) [Member] | |||
Contingencies and Commitments [Line Items] | |||
Voting interest in investee | 50.00% | 50.00% | |
Commercial paper outstanding | $ 1,470,000,000 | $ 1,470,000,000 | |
Berkadia Commercial Mortgage (investee) [Member] | Commercial Paper [Member] | |||
Contingencies and Commitments [Line Items] | |||
Maximum outstanding balance of commercial paper borrowings | $ 1,500,000,000 | $ 1,500,000,000 | |
Berkadia Commercial Mortgage (investee) [Member] | Leucadia National Corporation (venture partner) [Member] | |||
Contingencies and Commitments [Line Items] | |||
Voting interest in investee | 50.00% | 50.00% | |
Berkshire Hathaway Insurance Group [Member] | |||
Contingencies and Commitments [Line Items] | |||
Reimbursement rate from joint venture partner of Company's surety bond claim losses | 50.00% | ||
Purchase Agreement [Member] | National Indemnity Company [Member] | Medical Liability Mutual Insurance Company [Member] | |||
Contingencies and Commitments [Line Items] | |||
Statutory assets | $ 5,500,000,000 | ||
Statutory policyholders' surplus | $ 1,900,000,000 | ||
Acquisition price in addition to tangible book value of acquiree | $ 100,000,000 |
Business segment data - Revenue
Business segment data - Revenues by segment (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Segment Reporting Information [Line Items] | ||||
Revenues | $ 59,068 | $ 58,989 | $ 165,931 | $ 159,001 |
Operating Businesses [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 55,418 | 51,625 | 160,091 | 150,329 |
Operating Businesses [Member] | Berkshire Hathaway Insurance Group [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Interest, dividend and other investment income | 1,043 | 1,046 | 3,428 | 3,474 |
Revenues | 12,407 | 11,560 | 36,715 | 33,928 |
Operating Businesses [Member] | Berkshire Hathaway Insurance Group [Member] | GEICO [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Premiums earned | 6,474 | 5,788 | 18,771 | 16,792 |
Operating Businesses [Member] | Berkshire Hathaway Insurance Group [Member] | General Re [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Premiums earned | 1,389 | 1,405 | 4,168 | 4,397 |
Operating Businesses [Member] | Berkshire Hathaway Insurance Group [Member] | Berkshire Hathaway Reinsurance Group [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Premiums earned | 1,872 | 1,892 | 5,767 | 5,317 |
Operating Businesses [Member] | Berkshire Hathaway Insurance Group [Member] | Berkshire Hathaway Primary Group [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Premiums earned | 1,629 | 1,429 | 4,581 | 3,948 |
Operating Businesses [Member] | BNSF [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 5,167 | 5,600 | 14,519 | 16,571 |
Operating Businesses [Member] | Berkshire Hathaway Energy [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 5,198 | 5,144 | 13,615 | 14,018 |
Operating Businesses [Member] | Manufacturing Businesses [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 12,082 | 9,181 | 34,837 | 27,568 |
Operating Businesses [Member] | McLane Company [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 12,271 | 12,264 | 36,121 | 36,200 |
Operating Businesses [Member] | Service and Retailing Businesses [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 6,331 | 6,151 | 18,607 | 16,966 |
Operating Businesses [Member] | Finance and Financial Products Reportable Segment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 1,962 | 1,725 | 5,677 | 5,078 |
Intersegment Eliminations and Other Reconciling Items [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | (183) | (236) | (322) | (762) |
Investment and derivative gains/losses | 3,608 | 7,502 | 5,311 | 9,105 |
Intersegment Eliminations and Other Reconciling Items [Member] | Kraft Heinz (previously Heinz Holding) [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Income from Kraft Heinz | $ 225 | $ 98 | $ 851 | $ 329 |
Business segment data - Earning
Business segment data - Earnings before income taxes by segment (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Segment Reporting Information [Line Items] | ||||
Earnings before income taxes | $ 10,525 | $ 14,072 | $ 24,353 | $ 27,565 |
Operating Businesses [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings before income taxes from operating businesses | 7,370 | 6,909 | 19,612 | 19,234 |
Operating Businesses [Member] | Berkshire Hathaway Insurance Group [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings before income taxes from operating businesses | 1,438 | 1,688 | 4,673 | 4,808 |
Operating Businesses [Member] | Berkshire Hathaway Insurance Group [Member] | GEICO [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings before income taxes from operating businesses | 138 | 258 | 552 | 471 |
Operating Businesses [Member] | Berkshire Hathaway Insurance Group [Member] | General Re [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings before income taxes from operating businesses | 100 | (2) | 144 | 58 |
Operating Businesses [Member] | Berkshire Hathaway Insurance Group [Member] | Berkshire Hathaway Reinsurance Group [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings before income taxes from operating businesses | (19) | 199 | 86 | 247 |
Operating Businesses [Member] | Berkshire Hathaway Insurance Group [Member] | Berkshire Hathaway Primary Group [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings before income taxes from operating businesses | 190 | 188 | 485 | 566 |
Operating Businesses [Member] | Berkshire Hathaway Insurance Group [Member] | Interest, Dividend and Other Investment Income [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings before income taxes from operating businesses | 1,029 | 1,045 | 3,406 | 3,466 |
Operating Businesses [Member] | BNSF [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings before income taxes from operating businesses | 1,633 | 1,839 | 4,129 | 5,047 |
Operating Businesses [Member] | Berkshire Hathaway Energy [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings before income taxes from operating businesses | 1,246 | 1,153 | 2,481 | 2,398 |
Operating Businesses [Member] | Manufacturing Businesses [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings before income taxes from operating businesses | 1,981 | 1,259 | 5,150 | 3,857 |
Operating Businesses [Member] | McLane Company [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings before income taxes from operating businesses | 106 | 106 | 371 | 384 |
Operating Businesses [Member] | Service and Retailing Businesses [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings before income taxes from operating businesses | 449 | 378 | 1,230 | 1,260 |
Operating Businesses [Member] | Finance and Financial Products Reportable Segment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings before income taxes from operating businesses | 517 | 486 | 1,578 | 1,480 |
Intersegment Eliminations and Other Reconciling Items [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Investment and derivative gains/losses | 3,608 | 7,502 | 5,311 | 9,105 |
Interest expense | (201) | (83) | (518) | (391) |
Earnings before income taxes from operating businesses | (477) | (354) | (903) | (712) |
Intersegment Eliminations and Other Reconciling Items [Member] | Kraft Heinz (previously Heinz Holding) [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Income from Kraft Heinz | $ 225 | $ 98 | $ 851 | $ 329 |