Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2022 | Apr. 20, 2022 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2022 | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q1 | |
Entity File Number | 001-14905 | |
Entity Tax Identification Number | 47-0813844 | |
Entity Address, Address Line One | 3555 Farnam Street | |
Entity Address, City or Town | Omaha | |
Entity Address, State or Province | NE | |
Entity Address, Postal Zip Code | 68131 | |
City Area Code | 402 | |
Local Phone Number | 346-1400 | |
Entity Registrant Name | BERKSHIRE HATHAWAY INC | |
Entity Central Index Key | 0001067983 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Interactive Data Current | Yes | |
Entity Incorporation, State or Country Code | DE | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Common Class A [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 613,707 | |
Security 12b Title | Class A Common Stock | |
Trading Symbol | BRK.A | |
Security Exchange Name | NYSE | |
Common Class B [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 1,285,751,332 | |
Security 12b Title | Class B Common Stock | |
Trading Symbol | BRK.B | |
Security Exchange Name | NYSE | |
M 0.750 Senior Notes Due 2023 [Member] | ||
Document Information [Line Items] | ||
Security 12b Title | 0.750% Senior Notes due 2023 | |
Trading Symbol | BRK23 | |
Security Exchange Name | NYSE | |
M 0.625 Senior Notes Due 2023 [Member] | ||
Document Information [Line Items] | ||
Security 12b Title | 0.625% Senior Notes due 2023 | |
Trading Symbol | BRK23A | |
Security Exchange Name | NYSE | |
M 1.300 Senior Notes Due 2024 [Member] | ||
Document Information [Line Items] | ||
Security 12b Title | 1.300% Senior Notes due 2024 | |
Trading Symbol | BRK24 | |
Security Exchange Name | NYSE | |
M 0.000 Senior Notes Due 2025 [Member] | ||
Document Information [Line Items] | ||
Security 12b Title | 0.000% Senior Notes due 2025 | |
Trading Symbol | BRK25 | |
Security Exchange Name | NYSE | |
M 1.125 Senior Notes Due 2027 [Member] | ||
Document Information [Line Items] | ||
Security 12b Title | 1.125% Senior Notes due 2027 | |
Trading Symbol | BRK27 | |
Security Exchange Name | NYSE | |
M 2.150 Senior Notes Due 2028 [Member] | ||
Document Information [Line Items] | ||
Security 12b Title | 2.150% Senior Notes due 2028 | |
Trading Symbol | BRK28 | |
Security Exchange Name | NYSE | |
M 1.500 Senior Notes Due 2030 [Member] | ||
Document Information [Line Items] | ||
Security 12b Title | 1.500% Senior Notes due 2030 | |
Trading Symbol | BRK30 | |
Security Exchange Name | NYSE | |
M 2.000 Senior Notes Due 2034 [Member] | ||
Document Information [Line Items] | ||
Security 12b Title | 2.000% Senior Notes due 2034 | |
Trading Symbol | BRK34 | |
Security Exchange Name | NYSE | |
M 1.625 Senior Notes Due 2035 [Member] | ||
Document Information [Line Items] | ||
Security 12b Title | 1.625% Senior Notes due 2035 | |
Trading Symbol | BRK35 | |
Security Exchange Name | NYSE | |
M 2.375 Senior Notes Due 2039 [Member] | ||
Document Information [Line Items] | ||
Security 12b Title | 2.375% Senior Notes due 2039 | |
Trading Symbol | BRK39 | |
Security Exchange Name | NYSE | |
M 0.500 Senior Notes Due 2041 [Member] | ||
Document Information [Line Items] | ||
Security 12b Title | 0.500% Senior Notes due 2041 | |
Trading Symbol | BRK41 | |
Security Exchange Name | NYSE | |
M 2.625 Senior Notes Due 2059 [Member] | ||
Document Information [Line Items] | ||
Security 12b Title | 2.625% Senior Notes due 2059 | |
Trading Symbol | BRK59 | |
Security Exchange Name | NYSE |
Consolidated Balance Sheets
Consolidated Balance Sheets € in Millions, £ in Millions, $ in Millions, ¥ in Billions | Mar. 31, 2022USD ($) | Dec. 31, 2021USD ($) | |||
ASSETS | |||||
Investments in fixed maturity securities | $ 21,718 | $ 16,434 | |||
Investments in equity securities | 390,538 | [1] | 350,719 | [2] | |
Loans and finance receivables | 21,265 | 20,751 | |||
Inventories | 22,572 | 20,954 | |||
Equipment held for lease | 15,038 | 14,918 | |||
Goodwill | [3] | 73,822 | 73,875 | ||
Total assets | 969,506 | 958,784 | |||
LIABILITIES | |||||
Income taxes, principally deferred | 91,114 | 90,243 | |||
Total liabilities | 452,641 | 443,854 | |||
Shareholders’ equity: | |||||
Common stock | 8 | 8 | |||
Capital in excess of par value | 35,586 | 35,592 | |||
Accumulated other comprehensive income | (4,428) | (4,027) | |||
Retained earnings | 539,881 | 534,421 | |||
Treasury stock, at cost | (62,906) | (59,795) | |||
Berkshire Hathaway shareholders’ equity | 508,141 | 506,199 | |||
Noncontrolling interests | 8,724 | 8,731 | |||
Total shareholders’ equity | 516,865 | 514,930 | |||
Total liabilities and shareholders' equity | 969,506 | 958,784 | |||
Insurance and Other [Member] | |||||
ASSETS | |||||
Cash and cash equivalents | [4] | 35,542 | 85,319 | ||
Short-term investments in U.S. Treasury Bills | 67,145 | 58,535 | |||
Investments in fixed maturity securities | 21,718 | 16,434 | |||
Investments in equity securities | 390,538 | 350,719 | |||
Equity method investments | 17,596 | 17,375 | |||
Loans and finance receivables | 21,265 | 20,751 | |||
Other receivables | 38,963 | 35,388 | |||
Inventories | 22,572 | 20,954 | |||
Property, plant and equipment | 20,707 | 20,834 | |||
Equipment held for lease | 15,038 | 14,918 | |||
Goodwill | 47,064 | 47,117 | |||
Other intangible assets | 28,211 | 28,486 | |||
Deferred charges - retroactive reinsurance | 10,424 | 10,639 | |||
Other | 16,303 | 15,854 | |||
Total assets | 753,086 | 743,323 | |||
LIABILITIES | |||||
Unpaid losses and loss adjustment expenses | 87,667 | 86,664 | |||
Unpaid losses and loss adjustment expenses under retroactive reinsurance contracts | 37,702 | 38,256 | |||
Unearned premiums | 25,368 | 23,512 | |||
Life, annuity and health insurance benefits | 22,673 | 22,452 | |||
Other policyholder liabilities | 9,347 | 9,330 | |||
Accounts payable, accruals and other liabilities | 30,929 | 30,376 | |||
Aircraft repurchase liabilities and unearned lease revenues | 5,782 | 5,849 | |||
Notes payable and other borrowings | 44,890 | 39,272 | |||
Total liabilities | 264,358 | 255,711 | |||
Railroad, Utilities and Energy [Member] | |||||
ASSETS | |||||
Cash and cash equivalents | [4] | 3,571 | 2,865 | ||
Receivables | 4,092 | 4,177 | |||
Property, plant and equipment | 156,015 | 155,530 | |||
Goodwill | 26,758 | 26,758 | |||
Regulatory assets | 4,086 | 3,963 | |||
Other intangible assets | 1,132 | 1,151 | |||
Other | 21,898 | 22,168 | |||
Total assets | 216,420 | 215,461 | |||
LIABILITIES | |||||
Accounts payable, accruals and other liabilities | 15,076 | 15,696 | |||
Regulatory liabilities | 7,322 | 7,214 | |||
Notes payable and other borrowings | 74,771 | 74,990 | |||
Total liabilities | $ 97,169 | $ 97,900 | |||
[1] | Approximately 66% of the aggregate fair value was concentrated in four companies (American Express Company – $28.4 billion; Apple Inc. – $159.1 billion; Bank of America Corporation – $42.6 billion and Chevron Corporation – $25.9 billion). | ||||
[2] | Approximately 73% of the aggregate fair value was concentrated in four companies (American Express Company – $24.8 billion; Apple Inc. – $161.2 billion; Bank of America Corporation – $46.0 billion and The Coca-Cola Company – $23.7 billion). | ||||
[3] | Net of accumulated goodwill impairments of $11.0 billion as of March 31, 2022 and December 31, 2021. | ||||
[4] | Includes U.S. Treasury Bills with maturities of three months or less when purchased of $7.3 billion at March 31, 2022 and $61.7 billion at December 31, 2021. |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Billions | Mar. 31, 2022 | Dec. 31, 2021 |
U.S. Treasury Bills [Member] | ||
Cash equivalents | $ 7.3 | $ 61.7 |
Consolidated Statements of Earn
Consolidated Statements of Earnings - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | ||
Revenues: | |||
Leasing revenues | $ 1,672 | $ 1,324 | |
Total revenues | 70,810 | 64,599 | |
Investment and derivative contract gains (losses) | (1,978) | 5,700 | |
Costs and expenses: | |||
Total costs and expenses | 62,396 | 56,022 | |
Earnings before income taxes and equity method earnings | 6,436 | 14,277 | |
Equity method earnings | 376 | 251 | |
Earnings before income taxes | 6,812 | 14,528 | |
Income tax expense | 1,227 | 2,688 | |
Net earnings | 5,585 | 11,840 | |
Earnings attributable to noncontrolling interests | 125 | 129 | |
Net earnings attributable to Berkshire Hathaway shareholders | $ 5,460 | $ 11,711 | |
Equivalent Class A [Member] | |||
Earnings per share: | |||
Net earnings per average equivalent share | $ 3,702 | $ 7,638 | |
Average equivalent shares outstanding | 1,474,703 | 1,533,284 | |
Equivalent Class B [Member] | |||
Earnings per share: | |||
Net earnings per average equivalent share | [1] | $ 2.47 | $ 5.09 |
Average equivalent shares outstanding | 2,212,054,009 | 2,299,925,502 | |
Insurance and Other [Member] | |||
Revenues: | |||
Insurance premiums earned | $ 17,492 | $ 16,424 | |
Sales and service revenues | 37,862 | 33,698 | |
Leasing revenues | 1,672 | 1,324 | |
Interest, dividend and other investment income | 1,862 | 1,851 | |
Total revenues | 58,888 | 53,297 | |
Costs and expenses: | |||
Insurance losses and loss adjustment expenses | 13,332 | 10,964 | |
Life, annuity and health insurance benefits | 1,323 | 1,480 | |
Insurance underwriting expenses | 2,767 | 3,014 | |
Cost of sales and services | 29,785 | 26,530 | |
Cost of leasing | 1,232 | 882 | |
Selling, general and administrative expenses | 4,251 | 3,910 | |
Interest expense | 264 | 276 | |
Total costs and expenses | 52,954 | 47,056 | |
Railroad, Utilities and Energy [Member] | |||
Revenues: | |||
Freight rail transportation revenues | 5,944 | 5,378 | |
Energy operating revenues | 4,818 | 4,848 | |
Service revenues and other income | 1,160 | 1,076 | |
Total revenues | 11,922 | 11,302 | |
Costs and expenses: | |||
Freight rail transportation expenses | 3,925 | 3,510 | |
Utilities and energy cost of sales and other expenses | 3,591 | 3,589 | |
Other expenses | 1,156 | 1,093 | |
Interest expense | 770 | 774 | |
Total costs and expenses | $ 9,442 | $ 8,966 | |
[1] | Class B shares are economically equivalent to one-fifteen-hundredth |
Consolidated Statements of Ea_2
Consolidated Statements of Earnings (Parenthetical) | Mar. 31, 2022 |
Income Statement [Abstract] | |
Economic equivalent of Class B share to Class A share | 0.0667% |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Statement Of Income And Comprehensive Income [Abstract] | ||
Net earnings | $ 5,585 | $ 11,840 |
Other comprehensive income: | ||
Unrealized appreciation of investments | (236) | (87) |
Applicable income taxes | 51 | 20 |
Foreign currency translation | (316) | (285) |
Applicable income taxes | (11) | (3) |
Defined benefit pension plans | 26 | 61 |
Applicable income taxes | (5) | (20) |
Other, net | 87 | (6) |
Other comprehensive income, net | (404) | (320) |
Comprehensive income | 5,181 | 11,520 |
Comprehensive income attributable to noncontrolling interests | 122 | 136 |
Comprehensive income attributable to Berkshire Hathaway shareholders | $ 5,059 | $ 11,384 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Millions | Total | Common stock and capital in excess of par value | Accumulated other comprehensive income | Retained earnings | Treasury Stock | Noncontrolling interests |
Beginning Balance at Dec. 31, 2020 | $ 451,336 | $ 35,634 | $ (4,243) | $ 444,626 | $ (32,853) | $ 8,172 |
Net earnings | 11,840 | 11,711 | 129 | |||
Other comprehensive income, net | (320) | (327) | 7 | |||
Acquisition of common stock | (6,565) | (6,565) | ||||
Transactions with noncontrolling interests | (115) | 4 | (119) | |||
Ending Balance at Mar. 31, 2021 | 456,176 | 35,638 | (4,570) | 456,337 | (39,418) | 8,189 |
Beginning Balance at Dec. 31, 2021 | 514,930 | 35,600 | (4,027) | 534,421 | (59,795) | 8,731 |
Net earnings | 5,585 | 5,460 | 125 | |||
Other comprehensive income, net | (404) | (401) | (3) | |||
Acquisition of common stock | (3,111) | (3,111) | ||||
Transactions with noncontrolling interests | (135) | (6) | (129) | |||
Ending Balance at Mar. 31, 2022 | $ 516,865 | $ 35,594 | $ (4,428) | $ 539,881 | $ (62,906) | $ 8,724 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | ||
Cash flows from operating activities: | |||
Net earnings | $ 5,585 | $ 11,840 | |
Adjustments to reconcile net earnings to operating cash flows: | |||
Investment (gains) losses | 1,735 | (5,211) | |
Depreciation and amortization | 2,703 | 2,673 | |
Other | (961) | (225) | |
Changes in operating assets and liabilities: | |||
Unpaid losses and loss adjustment expenses | 558 | 961 | |
Deferred charges - retroactive reinsurance | 215 | 252 | |
Unearned premiums | 1,912 | 2,390 | |
Receivables and originated loans | (3,469) | (3,440) | |
Other assets | (2,168) | (397) | |
Other liabilities | (85) | (1,861) | |
Income taxes | 804 | 2,324 | |
Net cash flows from operating activities | 6,829 | 9,306 | |
Cash flows from investing activities: | |||
Purchases of equity securities | (51,119) | (2,572) | |
Sales of equity securities | 9,724 | 6,451 | |
Purchases of U.S. Treasury Bills and fixed maturity securities | (58,746) | (32,313) | |
Sales of U.S. Treasury Bills and fixed maturity securities | 37,795 | 4,090 | |
Redemptions and maturities of U.S. Treasury Bills and fixed maturity securities | 6,571 | 37,559 | |
Purchases of loans and finance receivables | (12) | (11) | |
Collections of loans and finance receivables | 73 | 109 | |
Acquisitions of businesses, net of cash acquired | (34) | (47) | |
Purchases of property, plant and equipment and equipment held for lease | (3,090) | (2,519) | |
Other | 272 | 449 | |
Net cash flows from investing activities | (58,566) | 11,196 | |
Cash flows from financing activities: | |||
Changes in short term borrowings, net | (183) | 229 | |
Acquisition of treasury stock | (3,180) | (6,580) | |
Other | (367) | (132) | |
Net cash flows from financing activities | 2,643 | (8,349) | |
Effects of foreign currency exchange rate changes | 50 | (61) | |
Increase (decrease) in cash and cash equivalents and restricted cash | (49,044) | 12,092 | |
Cash and cash equivalents and restricted cash at beginning of year* | 88,706 | 48,396 | |
Cash and cash equivalents and restricted cash at end of first quarter* | 39,662 | 60,488 | |
Restricted cash, included in other assets at beginning of year | 522 | 406 | |
Restricted cash, included in other assets at end of first quarter | $ 549 | $ 434 | |
Restricted Cash and Cash Equivalents, Asset, Statement of Financial Position [Extensible List] | Other | Other | |
Insurance and Other [Member] | |||
Cash flows from financing activities: | |||
Proceeds from borrowings | $ 6,977 | $ 1,442 | |
Repayments of borrowings | (614) | (2,425) | |
Cash and cash equivalents at beginning of year | 85,319 | [1] | 44,714 |
Cash and cash equivalents at end of first quarter | 35,542 | [1] | 56,826 |
Railroad, Utilities and Energy [Member] | |||
Cash flows from financing activities: | |||
Proceeds from borrowings | 405 | ||
Repayments of borrowings | (395) | (883) | |
Cash and cash equivalents at beginning of year | 2,865 | [1] | 3,276 |
Cash and cash equivalents at end of first quarter | $ 3,571 | [1] | $ 3,228 |
[1] | Includes U.S. Treasury Bills with maturities of three months or less when purchased of $7.3 billion at March 31, 2022 and $61.7 billion at December 31, 2021. |
General
General | 3 Months Ended |
Mar. 31, 2022 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
General | Note 1. General The accompanying unaudited Consolidated Financial Statements include the accounts of Berkshire Hathaway Inc. (“Berkshire” or “Company”) consolidated with the accounts of all its subsidiaries and affiliates in which Berkshire holds controlling financial interests as of the financial statement date. In these notes, the terms “us,” “we” or “our” refer to Berkshire and its consolidated subsidiaries. Reference is made to Berkshire’s most recently issued Annual Report on Form 10-K (“Annual Report”), which includes information necessary or useful to understanding Berkshire’s businesses and financial statement presentations. Our significant accounting policies and practices were presented as Note 1 to the Consolidated Financial Statements included in the Annual Report. Financial information in this Quarterly Report reflects all adjustments (consisting only of normal recurring adjustments) that are, in the opinion of management, necessary to a fair statement of results for the interim periods in accordance with accounting principles generally accepted in the United States (“GAAP”). For a number of reasons, our results for interim periods are not normally indicative of results to be expected for the year. The timing and magnitude of catastrophe losses incurred by insurance subsidiaries and the estimation error inherent to the process of determining liabilities for unpaid losses of insurance subsidiaries can be more significant to results of interim periods than to results for a full year. Given the size of our equity security investment portfolio, changes in market prices and the related changes in unrealized gains and losses on equity securities will produce significant volatility in our interim and annual earnings. In addition, changes in the fair values of certain derivative contract liabilities, gains and losses from the periodic revaluation of certain assets and liabilities denominated in foreign currencies and the magnitude of asset impairment charges may cause significant variations in periodic net earnings. The COVID-19 pandemic continues to affect most of our operating businesses. Significant government and private sector actions have been taken since 2020 and likely will continue to be taken intended to control the spread and mitigate the economic effects of the virus. Actions in the latter part of 2021 and early 2022 included temporary business closures or restrictions of business activities in various parts of the world in response to the emergence of variants of the virus. Notwithstanding these efforts, significant disruptions of supply chains and higher costs have persisted in 2022. Further, the development of geopolitical conflicts in 2022 have contributed to disruptions of supply chains, resulting in cost increases for commodities, goods, and services in many parts of the world. The economic effects from these events over longer terms cannot be reasonably estimated at this time. Accordingly, significant estimates used in the preparation of our financial statements, including those associated with evaluations of certain long-lived assets, goodwill and other intangible assets for impairment, expected credit losses on amounts owed to us and the estimations of certain losses assumed under insurance and reinsurance contracts, may be subject to significant adjustments in future periods. |
New accounting pronouncements
New accounting pronouncements | 3 Months Ended |
Mar. 31, 2022 | |
Accounting Changes And Error Corrections [Abstract] | |
New accounting pronouncements | Note 2. New accounting pronouncements In August 2018, the Financial Accounting Standards Board issued Accounting Standards Update 2018-12 “Targeted Improvements to the Accounting for Long-Duration Contracts” (“ASU 2018-12”). ASU 2018-12 requires reassessment of cash flow assumptions at least annually and revision of discount rate assumptions each reporting period in valuing policyholder liabilities and related deferred acquisition costs of long-duration contracts. The effects from changes in cash flow assumptions are reflected in earnings and the effects from changes in discount rate assumptions are reflected in other comprehensive income. Currently, the cash flow and discount rate assumptions are set at the contract inception date and not subsequently changed, except under limited circumstances. ASU 2018-12 is to be applied retrospectively to the earliest period presented in the financial statements, will require new disclosures and is effective for fiscal years beginning after December 15, 2022, with early adoption permitted. We currently intend to adopt ASU 2018-12 as of January 1, 2023 using the modified retrospective method, which provides that revised cash flow and discount rate assumptions as of January 1, 2021 (the transition date) be applied to contracts then in-force, with liabilities then remeasured as provided under the standard. The cumulative effects from discount rate assumption changes as of the transition date will be recorded in accumulated other comprehensive income and the cumulative effect from cash flow assumption changes will be recorded in retained earnings. While we have not finalized our assessment of the impact of the adoption as of the transition date, we currently believe that the changes in discount rate assumptions will have a greater effect on our recorded liabilities than changes in cash flow assumptions. We also preliminarily estimate that the changes in discount rate assumptions as of the transition date will increase our life, health and annuity benefit liabilities from the amounts previously reported due to the historically low interest rate environment at that time. However, the ultimate impact of adopting ASU 2018-12 will be based on the discount rate and cash flow assumptions determined as of the January 1, 2023 adoption date. We, therefore, continue to evaluate the effect this standard will have on our Consolidated Financial Statements. |
Investments in fixed maturity s
Investments in fixed maturity securities | 3 Months Ended |
Mar. 31, 2022 | |
Investments Debt And Equity Securities [Abstract] | |
Investments in fixed maturity securities | Notes to Consolidated Financial Statements (Continued) Note 3. Investments in fixed maturity securities Investments in fixed maturity securities as of March 31, 2022 and December 31, 2021 are summarized by type below (in millions). Amortized Cost Unrealized Gains Unrealized Losses Fair Value March 31, 2022 U.S. Treasury, U.S. government corporations and agencies $ 8,793 $ 12 $ (97 ) $ 8,708 Foreign governments 11,116 26 (62 ) 11,080 Corporate bonds 1,268 324 (2 ) 1,590 Other 308 34 (2 ) 340 $ 21,485 $ 396 $ (163 ) $ 21,718 December 31, 2021 U.S. Treasury, U.S. government corporations and agencies $ 3,286 $ 22 $ (5 ) $ 3,303 Foreign governments 10,998 29 (33 ) 10,994 Corporate bonds 1,363 412 (1 ) 1,774 Other 317 47 (1 ) 363 $ 15,964 $ 510 $ (40 ) $ 16,434 Investments in foreign governments include securities issued by national and provincial government entities as well as instruments that are unconditionally guaranteed by such entities. As of March 31, 2022, approximately 94% of our foreign government holdings were rated AA or higher by at least one of the major rating agencies. The amortized cost and estimated fair value of fixed maturity securities at March 31, 2022 are summarized below by contractual maturity dates. Amounts are in millions. Actual maturities may differ from contractual maturities due to prepayment rights held by issuers. Due in one year or less Due after one year through five years Due after five years through ten years Due after ten years Mortgage- backed securities Total Amortized cost $ 10,272 $ 10,456 $ 443 $ 92 $ 222 $ 21,485 Fair value 10,250 10,370 734 112 252 21,718 |
Investments in equity securitie
Investments in equity securities | 3 Months Ended |
Mar. 31, 2022 | |
Investments Debt And Equity Securities [Abstract] | |
Investments in equity securities | Note 4. Investments in equity securities Investments in equity securities as of March 31, 2022 and December 31, 2021 are summarized as follows (in millions). Cost Basis Net Unrealized Gains Fair Value March 31, 2022* Banks, insurance and finance $ 36,472 $ 61,657 $ 98,129 Consumer products 40,932 153,536 194,468 Commercial, industrial and other 68,132 29,809 97,941 $ 145,536 $ 245,002 $ 390,538 * Approximately 66% of the aggregate fair value was concentrated in four companies (American Express Company – $28.4 billion; Apple Inc. – $159.1 billion; Bank of America Corporation – $42.6 billion and Chevron Corporation – $25.9 billion). Cost Basis Net Unrealized Gains Fair Value December 31, 2021* Banks, insurance and finance $ 26,822 $ 62,236 $ 89,058 Consumer products 36,076 154,945 191,021 Commercial, industrial and other 41,707 28,933 70,640 $ 104,605 $ 246,114 $ 350,719 * Approximately 73% of the aggregate fair value was concentrated in four companies (American Express Company – $24.8 billion; Apple Inc. – $161.2 billion; Bank of America Corporation – $46.0 billion and The Coca-Cola Company – $23.7 billion). Notes to Consolidated Financial Statements (Continued) Note 4. Investments in equity securities (Continued) Our equity security investments also include Occidental Corporation (“Occidental”) Cumulative Perpetual Preferred Stock with an aggregate liquidation value of $10 billion and warrants to purchase up to 83.86 million shares of Occidental common stock at an exercise price of $59.62 per share. The preferred stock accrues dividends at 8% per annum and is redeemable at the option of Occidental commencing in 2029 at a redemption price equal to 105% of the liquidation preference, plus any accumulated and unpaid dividends and is mandatorily redeemable under specified events. Dividends on the preferred stock are payable in cash or, at Occidental’s option, in shares of Occidental common stock. The warrants are exercisable in whole or in part until one year after the redemption of the preferred stock. |
Equity method investments
Equity method investments | 3 Months Ended |
Mar. 31, 2022 | |
Equity Method Investments And Joint Ventures [Abstract] | |
Equity method investments | Note 5. Equity method investments Berkshire and its subsidiaries hold investments in certain businesses that are accounted for pursuant to the equity method. Currently, the most significant of these is our investment in the common stock of The Kraft Heinz Company (“Kraft Heinz”). Kraft Heinz manufactures and markets food and beverage products, including condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee and other grocery products. Berkshire currently owns 26.6% of the outstanding shares of Kraft Heinz common stock. We recorded equity method earnings from our investment in Kraft Heinz of $206 million in the first quarter of 2022 and $150 million in 2021. We received dividends on the common stock of $130 million in the first quarter of both 2022 and 2021, which were recorded as reductions to the carrying value of our investment. Shares of Kraft Heinz common stock are publicly-traded and the fair value of our investment was approximately $12.8 billion at March 31, 2022 and $11.7 billion at December 31, 2021. The carrying value of our investment was approximately $13.2 billion at March 31, 2022 and $13.1 billion at December 31, 2021. As of March 31, 2022, the carrying value of our investment exceeded the fair value based on the quoted market price by 3% of the carrying value. We evaluated our investment in Kraft Heinz for impairment. Based on the prevailing facts and circumstances, we concluded recognition of an impairment loss in earnings was not required as of March 31, 2022. Summarized consolidated financial information of Kraft Heinz follows (in millions). March 26, 2022 December 25, 2021 Assets $ 93,864 $ 93,394 Liabilities 44,020 43,942 First Quarter 2022 2021 Sales $ 6,045 $ 6,394 Net earnings attributable to Kraft Heinz common shareholders 776 563 Other investments that we account for pursuant to the equity method include Berkadia Commercial Mortgage LLC (“Berkadia”), Pilot Travel Centers LLC (“Pilot”), Electric Transmission Texas, LLC (“ETT”) and Iroquois Gas Transmission System L.P. (“Iroquois”). The aggregate carrying value of these investments was approximately $4.4 billion as of March 31, 2022 and $4.3 billion as of December 31, 2021. We recorded equity method earnings in the first quarter of $170 million in 2022 and $101 million in 2021, and we received aggregate distributions in the first quarter of $28 million in 2022 and $896 million in 2021. Additional information concerning these investments follows. We own a 50% interest in Berkadia, with Jefferies Financial Group Inc. (“Jefferies”) owning the other 50% interest. Berkadia provides capital solutions, investment sales advisory and mortgage servicing for multifamily and commercial real estate. A source of funding for Berkadia’s operations is through commercial paper, which was $1.47 billion at March 31, 2022 and is limited to $1.5 billion. Berkadia’s commercial paper is supported by a surety policy issued by a Berkshire insurance subsidiary. Jefferies is obligated to indemnify us for one-half of any losses incurred under the policy. Berkshire Hathaway Energy (“BHE”) subsidiaries own a 50% noncontrolling interest in ETT, an owner and operator of electric transmission assets in Texas and a 50% noncontrolling interest in Iroquois, which owns and operates a natural gas pipeline located in New York and Connecticut. Notes to Consolidated Financial Statements (Continued) Note 5. Equity method investments (Continued) We own a 38.6% interest in Pilot, headquartered in Knoxville, Tennessee. Pilot operates travel centers in North America through more than 800 retail locations across 44 U.S. states and six Canadian provinces and through wholesale distribution. The Haslam family currently owns a 50.1% interest in Pilot and a third party owns the remaining 11.3% interest. We have an agreement to acquire an additional 41.4% interest in Pilot in 2023, with the Haslam family retaining a 20% interest. As a result, Berkshire will become the majority owner of Pilot in 2023. |
Investment and derivative contr
Investment and derivative contract gains/losses | 3 Months Ended |
Mar. 31, 2022 | |
Investments Debt And Equity Securities [Abstract] | |
Investment and derivative contract gains/losses | Note 6. Investment and derivative contract gains/losses Investment and derivative contract gains/losses in the first quarter of 2022 and 2021 are summarized as follows (in millions). First Quarter 2022 2021 Investment gains (losses): Equity securities: Change in unrealized investment gains (losses) during the period on securities held at the end of the period $ (1,775 ) $ 4,630 Investment gains (losses) on securities sold during the period 89 430 (1,686 ) 5,060 Fixed maturity securities: Gross realized gains 6 20 Gross realized losses (49 ) (1 ) Other (6 ) 132 Investment gains (losses) (1,735 ) 5,211 Derivative contract gains (losses) (243 ) 489 $ (1,978 ) $ 5,700 Equity securities gains and losses include unrealized gains and losses from changes in fair values during the period on equity securities we still own, as well as gains and losses on securities we sold during the period. As reflected in the Consolidated Statements of Cash Flows, we received proceeds from sales of equity securities of approximately $9.7 billion in the first three months of 2022 and $6.5 billion in the first three months of 2021. In the preceding table, investment gains and losses on equity securities sold during the period represent the difference between the sales proceeds and the fair value of the equity securities sold at the beginning of the applicable period or, if later, the purchase date. Our taxable gains/losses on equity securities sold are generally the difference between the proceeds from sales and original cost. Taxable losses in the first quarter of 2022 were $739 million and taxable gains in 2021 were $1.8 billion. Our derivative contract gains and losses derive from equity index put option contracts written prior to March 2008 on four major equity indexes. As of March 31, 2022, we had six open contracts, which had an aggregate fair value liability of $121 million and an aggregate notional value of $2.6 billion. |
Loans and finance receivables
Loans and finance receivables | 3 Months Ended |
Mar. 31, 2022 | |
Receivables [Abstract] | |
Loans and finance receivables | Notes to Consolidated Financial Statements (Continued) Note 7. Loans and finance receivables Loans and finance receivables are summarized as follows (in millions). March 31, 2022 December 31, 2021 Loans and finance receivables before allowances and discounts $ 22,596 $ 22,065 Allowances for credit losses (781 ) (765 ) Unamortized acquisition discounts and points (550 ) (549 ) $ 21,265 $ 20,751 Loans and finance receivables are principally manufactured home loans, and to a lesser extent, commercial loans and site-built home loans. Reconciliations of the allowance for credit losses on loans and finance receivables for the first quarter of 2022 and 2021 follow (in millions). First Quarter 2022 2021 Balance at beginning of year $ 765 $ 712 Provision for credit losses 22 27 Charge-offs, net of recoveries (6 ) (14 ) Balance at March 31 $ 781 $ 725 As of March 31, 2022, approximately 99% of home loan balances were evaluated collectively for impairment. As of March 31, 2022, we considered approximately 98% of the loan balances to be current as to payment status. A summary of performing and non-performing home loans before discounts and allowances by year of loan origination as of March 31, 2022 follows (in millions). Origination Year 2022 2021 2020 2019 2018 Prior Total Performing $ 2,038 $ 3,918 $ 3,065 $ 2,169 $ 1,642 $ 7,789 $ 20,621 Non-performing 2 3 8 8 6 46 73 $ 2,040 $ 3,921 $ 3,073 $ 2,177 $ 1,648 $ 7,835 $ 20,694 We are also party to commercial loan agreements with Seritage Growth Properties (“Seritage”) and Lee Enterprises, Inc, (“Lee”), in which loan balances aggregated $1.9 billion at March 31, 2022 and December 31, 2021. The Seritage loan is pursuant to a $2.0 billion term loan facility and the outstanding loan is secured by mortgages on its real estate properties. The loan agreement with Seritage, as amended, allows optional loan prepayments without penalty and further provides Seritage with the option to extend the maturity of the loan to July 31, 2025, if the outstanding principal has been reduced to $800 million by the original expiration date of July 31, 2023. The loan to Lee matures in 2045. The Lee loan agreement provides for mandatory principal prepayments under certain conditions and optional prepayments at par. We are the sole lender to each of these entities and each of these loans is current as to payment status. |
Other receivables
Other receivables | 3 Months Ended |
Mar. 31, 2022 | |
Receivables [Abstract] | |
Other receivables | Note 8. Other receivables Other receivables are comprised of the following (in millions). March 31, 2022 December 31, 2021 Insurance and other: Insurance premiums receivable $ 16,305 $ 15,050 Reinsurance recoverables 4,880 4,900 Trade receivables 14,333 12,971 Other 4,122 3,146 Allowances for credit losses (677 ) (679 ) $ 38,963 $ 35,388 Railroad, utilities and energy: Trade receivables $ 3,645 $ 3,678 Other 596 650 Allowances for credit losses (149 ) (151 ) $ 4,092 $ 4,177 Notes to Consolidated Financial Statements (Continued) Note 8. Other receivables (Continued) Provisions for credit losses in the first three months with respect to receivables summarized above were $92 million in 2022 and $18 million in 2021. Charge-offs, net of recoveries, in the first three months were $95 million in 2022 and $28 million in 2021. |
Inventories
Inventories | 3 Months Ended |
Mar. 31, 2022 | |
Inventory Disclosure [Abstract] | |
Inventories | Note 9. Inventories Inventories are comprised of the following (in millions). March 31, 2022 December 31, 2021 Raw materials $ 6,180 $ 5,743 Work in process and other 3,537 3,192 Finished manufactured goods 5,031 4,530 Goods acquired for resale 7,824 7,489 $ 22,572 $ 20,954 |
Property, plant and equipment i
Property, plant and equipment including equipment held for lease | 3 Months Ended |
Mar. 31, 2022 | |
Property, plant and equipment including equipment held for lease | Note 10. Property, plant and equipment A summary of property, plant and equipment of our insurance and other businesses follows (in millions). March 31, 2022 December 31, 2021 Land, buildings and improvements $ 14,049 $ 14,070 Machinery and equipment 26,166 26,063 Furniture, fixtures and other 4,772 4,640 44,987 44,773 Accumulated depreciation (24,280 ) (23,939 ) $ 20,707 $ 20,834 A summary of property, plant and equipment of railroad and utilities and energy businesses follows (in millions). The utility generation, transmission and distribution systems and interstate natural gas pipeline assets are owned by regulated public utility and natural gas pipeline subsidiaries. March 31, 2022 December 31, 2021 Railroad: Land, track structure and other roadway $ 65,256 $ 65,843 Locomotives, freight cars and other equipment 15,910 13,822 Construction in progress 1,101 1,027 82,267 80,692 Accumulated depreciation (16,535 ) (14,978 ) 65,732 65,714 Utilities and energy: Utility generation, transmission and distribution systems 90,560 90,223 Interstate natural gas pipeline assets 17,526 17,423 Independent power plants and other assets 13,986 13,695 Construction in progress 4,605 4,196 126,677 125,537 Accumulated depreciation (36,394 ) (35,721 ) 90,283 89,816 $ 156,015 $ 155,530 Depreciation expense for the first quarter of 2022 and 2021 is summarized below (in millions). First Quarter 2022 2021 Insurance and other $ 564 $ 576 Railroad, utilities and energy 1,542 1,496 $ 2,106 $ 2,072 |
Equipment held for lease [Member] | |
Property, plant and equipment including equipment held for lease | Notes to Consolidated Financial Statements (Continued) Note 11. Equipment held for lease Equipment held for lease includes railcars, aircraft, over-the-road trailers, intermodal tank containers, cranes, storage units and furniture. Equipment held for lease is summarized below (in millions). March 31, 2022 December 31, 2021 Railcars $ 9,532 $ 9,448 Aircraft 9,439 9,234 Other 5,196 5,053 24,167 23,735 Accumulated depreciation (9,129 ) (8,817 ) $ 15,038 $ 14,918 Depreciation expense for equipment held for lease in the first quarter was $294 million in 2022 and $282 million in 2021. Fixed and variable First Quarter 2022 2021 Fixed lease revenue $ 1,188 $ 1,062 Variable lease revenue 484 262 $ 1,672 $ 1,324 |
Goodwill and other intangible a
Goodwill and other intangible assets | 3 Months Ended |
Mar. 31, 2022 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Goodwill and other intangible assets | Note 12. Goodwill and other intangible assets Reconciliations of the changes in the carrying value of goodwill for the first quarter of 2022 and for the year ended December 31, 2021 follow (in millions). March 31, 2022 December 31, 2021 Balance at beginning of year $ 73,875 $ 73,734 Business acquisitions 5 353 Other, including foreign currency translation (58 ) (212 ) Balance at end of period* $ 73,822 $ 73,875 * Net of accumulated goodwill impairments of $11.0 billion as of March 31, 2022 and December 31, 2021. The gross carrying amounts and related accumulated amortization of other intangible assets are summarized as follows (in millions). March 31, 2022 December 31, 2021 Gross carrying amount Accumulated amortization Net carrying value Gross carrying amount Accumulated amortization Net carrying value Insurance and other: Customer relationships $ 27,323 $ 6,616 $ 20,707 $ 27,335 $ 6,450 $ 20,885 Trademarks and trade names 5,171 807 4,364 5,176 802 4,374 Patents and technology 4,818 3,547 1,271 4,763 3,484 1,279 Other 3,326 1,457 1,869 3,390 1,442 1,948 $ 40,638 $ 12,427 $ 28,211 $ 40,664 $ 12,178 $ 28,486 Railroad, utilities and energy: Customer relationships $ 678 $ 404 $ 274 $ 678 $ 396 $ 282 Trademarks, trade names and other 1,015 157 858 1,015 146 869 $ 1,693 $ 561 $ 1,132 $ 1,693 $ 542 $ 1,151 Notes to Consolidated Financial Statements (Continued) Note 12. Goodwill and other intangible assets (Continued) Intangible asset amortization expense in the first quarter was $303 million in 2022 and $319 million in 2021. Intangible assets with indefinite lives were $18.5 billion as of March 31, 2022 and December 31, 2021 and primarily related to certain customer relationships and trademarks and trade names. |
Unpaid losses and loss adjustme
Unpaid losses and loss adjustment expenses | 3 Months Ended |
Mar. 31, 2022 | |
Insurance [Abstract] | |
Unpaid losses and loss adjustment expenses | Note 13. Unpaid losses and loss adjustment expenses Our liabilities for unpaid losses and loss adjustment expenses (also referred to as “claim liabilities”) under property and casualty insurance and reinsurance contracts are based upon estimates of the ultimate claim costs associated with claim occurrences as of the balance sheet date and include estimates for incurred-but-not-reported (“IBNR”) claims. A reconciliation of the changes in claim liabilities, excluding liabilities under retroactive reinsurance contracts (see Note 14), for each of the three-month periods ending March 31, 2022 and 2021 follows (in millions). 2022 2021 Balances at beginning of year: Gross liabilities $ 86,664 $ 79,854 Reinsurance recoverable on unpaid losses (2,960 ) (2,912 ) Net liabilities 83,704 76,942 Incurred losses and loss adjustment expenses: Current accident year 13,375 11,363 Prior accident years (251 ) (646 ) Total 13,124 10,717 Paid losses and loss adjustment expenses: Current accident year (3,908 ) (3,214 ) Prior accident years (8,091 ) (6,454 ) Total (11,999 ) (9,668 ) Foreign currency effect (106 ) (94 ) Balances at March 31: Net liabilities 84,723 77,897 Reinsurance recoverable on unpaid losses 2,944 3,064 Gross liabilities $ 87,667 $ 80,961 Incurred losses and loss adjustment expenses shown in the preceding table were recorded in earnings and related to insured events occurring in the current year (“current accident year”) and events occurring in all prior years (“prior accident years”). Incurred and paid losses and loss adjustment expenses are net of reinsurance recoveries. We recorded net reductions of estimated ultimate liabilities for prior accident years of $251 million in the first quarter of 2022 and $646 million in 2021, which produced corresponding reductions in incurred losses and loss adjustment expenses in those periods. These reductions, as percentages of the net liabilities at the beginning of each year, were 0.3% in 2022 and 0.8% in 2021. Estimated ultimate liabilities for prior accident years from primary insurance were reduced by $114 million in the first quarter of 2022 and $699 million in 2021. The reductions in 2022 derived primarily from private passenger automobile, medical professional liability and workers’ compensation claims, partly offset by increases in ultimate liabilities for other casualty claims. The decrease in incurred losses for prior accident years in 2021 was primarily due to reductions in private passenger automobile estimates, and to a lesser extent in medical professional liability and workers’ compensation estimates. Estimated ultimate liabilities for prior years related to property and casualty reinsurance decreased $137 million in the first quarter of 2022 and increased $53 million in 2021. |
Retroactive reinsurance contrac
Retroactive reinsurance contracts | 3 Months Ended |
Mar. 31, 2022 | |
Insurance [Abstract] | |
Retroactive reinsurance contracts | Notes to Consolidated Financial Statements (Continued) Note 14. Retroactive reinsurance contracts Retroactive reinsurance policies provide indemnification of losses and loss adjustment expenses of short-duration insurance contracts with respect to underlying loss events that occurred prior to the contract inception date. Claims payments may commence immediately after the contract date or, when applicable, after a contractual retention amount has been reached. Reconciliations of the changes in estimated liabilities for retroactive reinsurance unpaid losses and loss adjustment expenses (“claim liabilities”) and related deferred charges for each of the three-month periods ending March 31, 2022 and 2021 follow (in millions). 2022 2021 Unpaid losses and loss adjustment expenses Deferred charges - retroactive reinsurance Unpaid losses and loss adjustment expenses Deferred charges - retroactive reinsurance Balances at beginning of year $ 38,256 $ (10,639 ) $ 40,966 $ (12,441 ) Incurred losses and loss adjustment expenses: Current year contracts — — — — Prior years’ contracts (7 ) 215 (5 ) 252 Total (7 ) 215 (5 ) 252 Paid losses and loss adjustment expenses (547 ) — (276 ) — Balances at March 31 $ 37,702 $ (10,424 ) $ 40,685 $ (12,189 ) Incurred losses and loss adjustment expenses, net of deferred charges $ 208 $ 247 In the preceding table, classifications of incurred losses and loss adjustment expenses are based on the inception dates of the contracts, which reflect when our exposure to losses began. Incurred losses and loss adjustment expenses in the first quarter for prior years’ contracts were $208 million in 2022 and $247 million in 2021 and included recurring amortization of deferred charges and the effect of changes in the timing and amount of expected future loss payments. Currently, our largest retroactive reinsurance contract is between our subsidiary, National Indemnity Company, and certain subsidiaries of American International Group, Inc. (collectively, “AIG”). Our estimated claim liabilities with regard to the AIG contract were approximately $15.4 billion at March 31, 2022 and $15.8 billion at December 31, 2021. Deferred charges related to the AIG contract were $4.34 billion at March 31, 2022 and $4.45 billion at December 31, 2021. |
Notes payable and other borrowi
Notes payable and other borrowings | 3 Months Ended |
Mar. 31, 2022 | |
Debt Disclosure [Abstract] | |
Notes payable and other borrowings | Note 15. Notes payable and other borrowings Notes payable and other borrowings are summarized below (in millions). The weighted average interest rates and maturity date ranges shown in the following tables are based on borrowings as of March 31, 2022. Weighted Average Interest Rate March 31, 2022 December 31, 2021 Insurance and other: Berkshire Hathaway Inc. (“Berkshire”): U.S. Dollar denominated due 2023-2047 3.3 % $ 6,222 $ 6,820 Euro denominated due 2023-2041 1.0 % 7,586 7,792 Japanese Yen denominated due 2023-2060 0.6 % 7,479 6,797 Berkshire Hathaway Finance Corporation (“BHFC”): U.S. Dollar denominated due 2022-2052 3.6 % 15,235 10,758 Great Britain Pound denominated due 2039-2059 2.5 % 2,258 2,325 Euro denominated due 2030-2034 1.8 % 1,378 — Other subsidiary borrowings due 2022-2045 4.1 % 4,426 4,438 Subsidiary short-term borrowings 3.2 % 306 342 $ 44,890 $ 39,272 Notes to Consolidated Financial Statements (Continued) Note 15. Notes payable and other borrowings (Continued) In January 2022, Berkshire repaid $600 million of maturing senior notes and issued ¥128.5 billion (approximately $1.1 billion) of senior notes with maturity dates ranging from 2027 to 2052 and a weighted average interest rate of 0.5%. Borrowings of BHFC, a wholly owned finance subsidiary of Berkshire, consist of senior unsecured notes used to fund manufactured housing loans originated or acquired and equipment held for lease of certain subsidiaries. BHFC borrowings are fully and unconditionally guaranteed by Berkshire. In March 2022, BHFC issued $4.5 billion of senior notes with maturity dates ranging from 2027 to 2052 with a weighted average interest rate of 3.4% and €1.25 billion (approximately $1.4 billion) of senior notes maturing in 2030 and 2034 with a weighted average interest rate of 1.8%. The carrying values of Berkshire and BHFC non-U.S. Dollar denominated senior notes (€8.15 billion, £1.75 billion and ¥914 billion par at March 31, 2022) reflect the applicable exchange rates as of each balance sheet date. The effects of changes in foreign currency exchange rates during the period are recorded in earnings as a component of selling, general and administrative expenses. Changes in the exchange rates resulted in pre-tax gains of $716 million in the first quarter of 2022 and $720 million in the first quarter of 2021. Berkshire also guarantees debt of other subsidiaries, aggregating approximately $3.8 billion at March 31, 2022. Generally, Berkshire’s guarantee of a subsidiary’s debt obligation is an absolute, unconditional and irrevocable guarantee for the full and prompt payment when due of all payment obligations. Weighted Average Interest Rate March 31, 2022 December 31, 2021 Railroad, utilities and energy: Berkshire Hathaway Energy Company (“BHE”) and subsidiaries: BHE senior unsecured debt due 2023-2051 4.3 % $ 13,003 $ 13,003 Subsidiary and other debt due 2022-2064 4.1 % 36,901 36,759 Short-term borrowings 1.6 % 1,849 2,009 Burlington Northern Santa Fe ("BNSF") and subsidiaries due 2022-2097 4.5 % 23,018 23,219 $ 74,771 $ 74,990 BHE subsidiary debt represents amounts issued pursuant to separate financing agreements. Substantially all of the assets of certain BHE subsidiaries are, or may be, pledged or encumbered to support or otherwise secure such debt. These borrowing arrangements generally contain various covenants, which pertain to leverage ratios, interest coverage ratios and/or debt service coverage ratios. In April 2022, BHE issued $1.0 billion of 4.6% senior notes due in 2053 and a subsidiary issued £350 million of 3.25% bonds due in 2052. BNSF’s borrowings are primarily senior unsecured debentures. As of March 31, 2022, BNSF, BHE and their subsidiaries were in compliance with all applicable debt covenants. Berkshire does not guarantee any debt, borrowings or lines of credit of BNSF, BHE or their subsidiaries. Our subsidiaries have unused lines of credit and commercial paper capacity to support short-term borrowing programs and provide additional liquidity. Unused lines of credit were approximately $10.4 billion at March 31, 2022, which included approximately $8.8 billion related to BHE and its subsidiaries. |
Fair value measurements
Fair value measurements | 3 Months Ended |
Mar. 31, 2022 | |
Fair Value Disclosures [Abstract] | |
Fair value measurements | Notes to Consolidated Financial Statements (Continued) Note 16. Fair value measurements Our financial assets and liabilities are summarized below as of March 31, 2022 and December 31, 2021, with fair values shown according to the fair value hierarchy (in millions). The carrying values of cash and cash equivalents, U.S. Treasury Bills, other receivables and accounts payable, accruals and other liabilities are considered to be reasonable estimates of their fair values. Carrying Value Fair Value Quoted Prices (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) March 31, 2022 Investments in fixed maturity securities: U.S. Treasury, U.S. government corporations and agencies $ 8,708 $ 8,708 $ 8,669 $ 39 $ — Foreign governments 11,080 11,080 10,543 537 — Corporate bonds 1,590 1,590 — 1,590 — Other 340 340 — 340 — Investments in equity securities 390,538 390,538 378,190 7 12,341 Investment in Kraft Heinz common stock 13,191 12,819 12,819 — — Loans and finance receivables 21,265 22,584 — 2,135 20,449 Derivative contract assets (1) 636 636 24 528 84 Derivative contract liabilities (1) 454 454 1 143 310 Notes payable and other borrowings: Insurance and other 44,890 45,145 — 45,101 44 Railroad, utilities and energy 74,771 79,234 — 79,234 — December 31, 2021 Investments in fixed maturity securities: U.S. Treasury, U.S. government corporations and agencies $ 3,303 $ 3,303 $ 3,261 $ 42 $ — Foreign governments 10,994 10,994 10,286 708 — Corporate bonds 1,774 1,774 — 1,774 — Other 363 363 — 363 — Investments in equity securities 350,719 350,719 339,225 8 11,486 Investment in Kraft Heinz common stock 13,112 11,683 11,683 — — Loans and finance receivables 20,751 22,174 — 2,178 19,996 Derivative contract assets (1) 329 329 6 230 93 Derivative contract liabilities (1) 376 376 2 150 224 Notes payable and other borrowings: Insurance and other 39,272 42,339 — 42,292 47 Railroad, utilities and energy 74,990 87,065 — 87,065 — (1) Notes to Consolidated Financial Statements (Continued) Note 16. Fair value measurements (Continued) The fair values of substantially all of our financial instruments were measured using market or income approaches. The hierarchy for measuring fair value consists of Levels 1 through 3, which are described below. Level 1 Level 2 Level 3 Reconciliations of significant assets and liabilities measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) for the three months ended March 31, 2022 and 2021 follow (in millions). Balance at beginning of year Gains included in earnings Acquisitions, dispositions and settlements Transfers out of Level 3 Balance at March 31 Investments in equity securities: 2022 $ 11,480 $ 855 $ — $ — $ 12,335 2021 8,978 823 600 — 10,401 Equity index put option contract liabilities: 2021 (1,065 ) 489 (1 ) — (577 ) Quantitative information as of March 31, 2022 with respect to significant assets and liabilities measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) follows (dollars in millions). Fair Value Principal Valuation Techniques Unobservable Inputs Weighted Average Investments in equity securities: Preferred stock $ 10,497 Discounted cash flow Expected duration 7 years Discount for transferability restrictions and subordination 372 bps Common stock warrants 1,838 Warrant pricing model Expected duration 7 years Volatility 38% Investments in equity securities in the preceding table include our investments in certain preferred stocks and common stock warrants that do not have readily determinable market values as defined under GAAP. These investments are subject to contractual restrictions on transferability and may contain provisions that prevent us from economically hedging our investments. We applied discounted cash flow techniques in valuing the preferred stock and we made assumptions regarding the expected duration of the investment and the effects of subordination in liquidation. In valuing the common stock warrants, we used a warrant valuation model. While most of the inputs to the model are observable, we made assumptions regarding the expected duration and volatility of the warrants. |
Common stock
Common stock | 3 Months Ended |
Mar. 31, 2022 | |
Equity [Abstract] | |
Common stock | Notes to Consolidated Financial Statements (Continued) Note 17. Common stock Changes in Berkshire’s issued, treasury and outstanding common stock during the first quarter of 2022 are shown in the table below. In addition to our common stock, 1,000,000 shares of preferred stock are authorized, but none are issued. Class A, $5 Par Value (1,650,000 shares authorized) Class B, $0.0033 Par Value (3,225,000,000 shares authorized) Issued Treasury Outstanding Issued Treasury Outstanding Balances at December 31, 2021 665,901 (48,788 ) 617,113 1,488,292,852 (197,818,349 ) 1,290,474,503 Conversions of Class A common stock to Class B common stock (1,148 ) — (1,148 ) 1,722,000 — 1,722,000 Treasury stock acquired — (2,005 ) (2,005 ) — (6,824,671 ) (6,824,671 ) Balances at March 31, 2022 664,753 (50,793 ) 613,960 1,490,014,852 (204,643,020 ) 1,285,371,832 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 one-ten-thousandth Since we have two classes of common stock, we provide earnings per share data on the Consolidated Statements of Earnings for average equivalent Class A shares outstanding and average equivalent Class B shares outstanding. Class B shares are economically equivalent to one-fifteen-hundredth (1/1,500) (1/1,500) Berkshire’s common stock repurchase program permits Berkshire to repurchase its Class A and Class B shares any time that Warren Buffett, Berkshire’s Chairman of the Board and Chief Executive Officer, and Charlie Munger, Vice Chairman of the Board, believe that the repurchase price is below Berkshire’s intrinsic value, conservatively determined. The program continues to allow share repurchases in the open market or through privately negotiated transactions and does not specify a maximum number of shares to be repurchased. However, repurchases will not be made if they would reduce the total value of Berkshire’s consolidated cash, cash equivalents and U.S. Treasury Bills holdings below $30 billion. The repurchase program does not obligate Berkshire to repurchase any specific dollar amount or number of Class A or Class B shares and there is no expiration date to the program. |
Income taxes
Income taxes | 3 Months Ended |
Mar. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
Income taxes | Note 18. Income taxes Our consolidated effective income tax rates were 18.0% in the first quarter 2022 and 18.5% in the first quarter of 2021. Our effective income tax rate normally reflects recurring benefits from dividends-received deductions applicable to investments in equity securities and production tax credits related to wind-powered electricity generation placed in service in the U.S. Our periodic effective income tax rate will also vary due to the changes in mix of pre-tax earnings, the magnitude of gains or losses with respect to our investments in equity securities, the amount of non-deductible goodwill impairment charges and other expenses and the underlying income tax rates applicable in the various taxing jurisdictions. |
Accumulated other comprehensive
Accumulated other comprehensive income | 3 Months Ended |
Mar. 31, 2022 | |
Equity [Abstract] | |
Accumulated other comprehensive income | Notes to Consolidated Financial Statements (Continued) Note 19. Accumulated other comprehensive income A summary of the net changes in after-tax accumulated other comprehensive income attributable to Berkshire Hathaway shareholders for the three months ending March 31, 2022 and 2021 follows (in millions). Unrealized appreciation of fixed maturity securities, net Foreign currency translation Defined benefit pension plans Other Accumulated other comprehensive income First quarter of 2022 Balance at beginning of year $ 369 $ (4,092 ) $ (347 ) $ 43 $ (4,027 ) Other comprehensive income, net (186 ) (315 ) 20 80 (401 ) Balance at end of period $ 183 $ (4,407 ) $ (327 ) $ 123 $ (4,428 ) First quarter of 2021 Balance at beginning of year $ 536 $ (3,082 ) $ (1,645 ) $ (52 ) $ (4,243 ) Other comprehensive income, net (67 ) (297 ) 40 (3 ) (327 ) Balance at end of period $ 469 $ (3,379 ) $ (1,605 ) $ (55 ) $ (4,570 ) |
Supplemental cash flow informat
Supplemental cash flow information | 3 Months Ended |
Mar. 31, 2022 | |
Supplemental Cash Flow Elements [Abstract] | |
Supplemental cash flow information | Note 20. Supplemental cash flow information A summary of supplemental cash flow information is presented in the following table (in millions). First Quarter 2022 2021 Cash paid during the period for: Income taxes $ 336 $ 256 Interest: Insurance and other 365 400 Railroad, utilities and energy 708 740 |
Contingencies and Commitments
Contingencies and Commitments | 3 Months Ended |
Mar. 31, 2022 | |
Commitments And Contingencies Disclosure [Abstract] | |
Contingencies and Commitments | Note 21. Contingencies and commitments We are parties in a variety of legal actions that routinely arise out of the normal course of business, including legal actions seeking to establish liability directly through insurance contracts or indirectly through reinsurance contracts issued by Berkshire subsidiaries. Plaintiffs occasionally seek punitive or exemplary damages. We do not believe that such normal and routine litigation will have a material effect on our financial condition or results of operations. Berkshire and certain of its subsidiaries are also involved in other kinds of legal actions, some of which assert or may assert claims or seek to impose fines and penalties. We believe that any liability that may arise as a result of other pending legal actions will not have a material effect on our consolidated financial condition or results of operations. On March 21, 2022, Berkshire and Alleghany Corporation (“Alleghany”) entered into an agreement whereby Berkshire will acquire all of Alleghany’s outstanding common stock for cash of approximately $11.6 billion. The acquisition of Alleghany is expected to close in the fourth quarter of 2022 and is subject to approval by Alleghany shareholders and the receipt of various regulatory approvals. Alleghany owns property and casualty reinsurance and insurance businesses as well as a diverse portfolio of non-financial businesses. |
Revenues from contracts with cu
Revenues from contracts with customers | 3 Months Ended |
Mar. 31, 2022 | |
Revenue From Contract With Customer [Abstract] | |
Revenues from contracts with customers | Notes to Consolidated Financial Statements (Continued) Note 22. Revenues from contracts with customers We recognize revenue when a good or service is transferred to a customer. A good or service is transferred when or as the customer obtains control of that good or service. Revenues are based on the consideration we expect to receive in connection with our promises to deliver goods and services to our customers. The following tables summarize customer contract revenues disaggregated by reportable segment and the source of the revenue for the first quarter of 2022 and 2021 (in millions). Other revenues, which are not considered to be revenues from contracts with customers under GAAP, are primarily insurance premiums earned, interest, dividend and other investment income and leasing revenues. Manufacturing McLane Service and Retailing BNSF Berkshire Hathaway Energy Insurance, Corporate and other Total Three months ending March 31, 2022 Manufactured products: Industrial and commercial products $ 5,932 $ — $ 49 $ — $ — $ — $ 5,981 Building products 5,419 — — — — — 5,419 Consumer products 5,093 — — — — — 5,093 Grocery and convenience store distribution — 7,706 — — — — 7,706 Food and beverage distribution — 4,562 — — — — 4,562 Auto sales — — 2,527 — — — 2,527 Other retail and wholesale distribution 722 — 4,175 — — — 4,897 Service 264 214 1,006 5,931 1,112 — 8,527 Electricity and natural gas — — — — 4,714 — 4,714 Total 17,430 12,482 7,757 5,931 5,826 — 49,426 Other revenues 955 32 1,334 13 152 18,898 21,384 $ 18,385 $ 12,514 $ 9,091 $ 5,944 $ 5,978 $ 18,898 $ 70,810 Three months ending March 31, 2021 Manufactured products: Industrial and commercial products $ 5,363 $ — $ 50 $ — $ — $ — $ 5,413 Building products 4,399 — — — — — 4,399 Consumer products 4,163 — — — — — 4,163 Grocery and convenience store distribution — 7,442 — — — — 7,442 Food and beverage distribution — 4,004 — — — — 4,004 Auto sales — — 2,312 — — — 2,312 Other retail and wholesale distribution 703 — 3,656 — — — 4,359 Service 329 151 934 5,365 1,040 — 7,819 Electricity and natural gas — — — — 4,712 — 4,712 Total 14,957 11,597 6,952 5,365 5,752 — 44,623 Other revenues 923 25 991 13 172 17,852 19,976 $ 15,880 $ 11,622 $ 7,943 $ 5,378 $ 5,924 $ 17,852 $ 64,599 A summary of the transaction price allocated to the significant unsatisfied remaining performance obligations relating to contracts with expected durations in excess of one year as of March 31, 2022 and the timing of when the performance obligations are expected to be satisfied follows (in millions). Less than 12 months Greater than 12 months Total Electricity and natural gas $ 2,878 $ 22,103 $ 24,981 Other sales and service contracts 1,494 2,423 3,917 |
Business segment data
Business segment data | 3 Months Ended |
Mar. 31, 2022 | |
Segment Reporting [Abstract] | |
Business segment data | Note 23. Business segment data Our operating businesses include a large and diverse group of insurance, manufacturing, service and retailing businesses. We organize our reportable business segments in a manner that reflects how management views those business activities. Certain businesses are grouped together for segment reporting based upon similar products or product lines and marketing, selling and distribution characteristics, even though those business units are operated under separate local management. Revenues and earnings before income taxes by segment for the first quarter of 2022 and 2021 were as follows (in millions). First Quarter 2022 2021 Revenues of Operating Businesses Insurance: Underwriting: GEICO $ 9,554 $ 8,923 Berkshire Hathaway Primary Group 3,118 2,654 Berkshire Hathaway Reinsurance Group 4,820 4,847 Investment income 1,364 1,414 Total insurance 18,856 17,838 BNSF 5,968 5,401 BHE 5,983 5,924 Manufacturing 18,421 15,913 McLane 12,515 11,622 Service and retailing 9,115 7,958 70,858 64,656 Reconciliation of segments to consolidated amount Corporate, eliminations and other (48 ) (57 ) $ 70,810 $ 64,599 First Quarter 2022 2021 Earnings Before Income Taxes of Operating Businesses Insurance: Underwriting: GEICO $ (178 ) $ 1,023 Berkshire Hathaway Primary Group 92 206 Berkshire Hathaway Reinsurance Group 156 (263 ) Investment income 1,361 1,412 Total insurance 1,431 2,378 BNSF 1,809 1,659 BHE 676 683 Manufacturing 2,824 2,436 McLane 82 103 Service and retailing 1,135 938 7,957 8,197 Reconciliation of segments to consolidated amount Investment and derivative gains (losses) (1,978 ) 5,700 Interest expense, not allocated to segments (104 ) (114 ) Equity method investments 376 251 Corporate, eliminations and other 561 494 $ 6,812 $ 14,528 |
New accounting pronouncements (
New accounting pronouncements (Policies) | 3 Months Ended |
Mar. 31, 2022 | |
Accounting Changes And Error Corrections [Abstract] | |
New accounting pronouncements | In August 2018, the Financial Accounting Standards Board issued Accounting Standards Update 2018-12 “Targeted Improvements to the Accounting for Long-Duration Contracts” (“ASU 2018-12”). ASU 2018-12 requires reassessment of cash flow assumptions at least annually and revision of discount rate assumptions each reporting period in valuing policyholder liabilities and related deferred acquisition costs of long-duration contracts. The effects from changes in cash flow assumptions are reflected in earnings and the effects from changes in discount rate assumptions are reflected in other comprehensive income. Currently, the cash flow and discount rate assumptions are set at the contract inception date and not subsequently changed, except under limited circumstances. ASU 2018-12 is to be applied retrospectively to the earliest period presented in the financial statements, will require new disclosures and is effective for fiscal years beginning after December 15, 2022, with early adoption permitted. We currently intend to adopt ASU 2018-12 as of January 1, 2023 using the modified retrospective method, which provides that revised cash flow and discount rate assumptions as of January 1, 2021 (the transition date) be applied to contracts then in-force, with liabilities then remeasured as provided under the standard. The cumulative effects from discount rate assumption changes as of the transition date will be recorded in accumulated other comprehensive income and the cumulative effect from cash flow assumption changes will be recorded in retained earnings. While we have not finalized our assessment of the impact of the adoption as of the transition date, we currently believe that the changes in discount rate assumptions will have a greater effect on our recorded liabilities than changes in cash flow assumptions. We also preliminarily estimate that the changes in discount rate assumptions as of the transition date will increase our life, health and annuity benefit liabilities from the amounts previously reported due to the historically low interest rate environment at that time. However, the ultimate impact of adopting ASU 2018-12 will be based on the discount rate and cash flow assumptions determined as of the January 1, 2023 adoption date. We, therefore, continue to evaluate the effect this standard will have on our Consolidated Financial Statements. |
Investments in fixed maturity_2
Investments in fixed maturity securities (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Investments Debt And Equity Securities [Abstract] | |
Schedule of investments in securities with fixed maturities | Investments in fixed maturity securities as of March 31, 2022 and December 31, 2021 are summarized by type below (in millions). Amortized Cost Unrealized Gains Unrealized Losses Fair Value March 31, 2022 U.S. Treasury, U.S. government corporations and agencies $ 8,793 $ 12 $ (97 ) $ 8,708 Foreign governments 11,116 26 (62 ) 11,080 Corporate bonds 1,268 324 (2 ) 1,590 Other 308 34 (2 ) 340 $ 21,485 $ 396 $ (163 ) $ 21,718 December 31, 2021 U.S. Treasury, U.S. government corporations and agencies $ 3,286 $ 22 $ (5 ) $ 3,303 Foreign governments 10,998 29 (33 ) 10,994 Corporate bonds 1,363 412 (1 ) 1,774 Other 317 47 (1 ) 363 $ 15,964 $ 510 $ (40 ) $ 16,434 |
Schedule of amortized cost and estimated fair value of securities with fixed maturities | The amortized cost and estimated fair value of fixed maturity securities at March 31, 2022 are summarized below by contractual maturity dates. Amounts are in millions. Actual maturities may differ from contractual maturities due to prepayment rights held by issuers. Due in one year or less Due after one year through five years Due after five years through ten years Due after ten years Mortgage- backed securities Total Amortized cost $ 10,272 $ 10,456 $ 443 $ 92 $ 222 $ 21,485 Fair value 10,250 10,370 734 112 252 21,718 |
Investments in equity securit_2
Investments in equity securities (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Investments Debt And Equity Securities [Abstract] | |
Schedule of investments in equity securities | Investments in equity securities as of March 31, 2022 and December 31, 2021 are summarized as follows (in millions). Cost Basis Net Unrealized Gains Fair Value March 31, 2022* Banks, insurance and finance $ 36,472 $ 61,657 $ 98,129 Consumer products 40,932 153,536 194,468 Commercial, industrial and other 68,132 29,809 97,941 $ 145,536 $ 245,002 $ 390,538 * Approximately 66% of the aggregate fair value was concentrated in four companies (American Express Company – $28.4 billion; Apple Inc. – $159.1 billion; Bank of America Corporation – $42.6 billion and Chevron Corporation – $25.9 billion). Cost Basis Net Unrealized Gains Fair Value December 31, 2021* Banks, insurance and finance $ 26,822 $ 62,236 $ 89,058 Consumer products 36,076 154,945 191,021 Commercial, industrial and other 41,707 28,933 70,640 $ 104,605 $ 246,114 $ 350,719 * Approximately 73% of the aggregate fair value was concentrated in four companies (American Express Company – $24.8 billion; Apple Inc. – $161.2 billion; Bank of America Corporation – $46.0 billion and The Coca-Cola Company – $23.7 billion). |
Equity method investments (Tabl
Equity method investments (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Equity Method Investments And Joint Ventures [Abstract] | |
Summarized unaudited financial information of Kraft Heinz | Summarized consolidated financial information of Kraft Heinz follows (in millions). March 26, 2022 December 25, 2021 Assets $ 93,864 $ 93,394 Liabilities 44,020 43,942 First Quarter 2022 2021 Sales $ 6,045 $ 6,394 Net earnings attributable to Kraft Heinz common shareholders 776 563 |
Investment and derivative con_2
Investment and derivative contract gains/losses (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Investments Debt And Equity Securities [Abstract] | |
Summary of investment and derivative gains and losses | Investment and derivative contract gains/losses in the first quarter of 2022 and 2021 are summarized as follows (in millions). First Quarter 2022 2021 Investment gains (losses): Equity securities: Change in unrealized investment gains (losses) during the period on securities held at the end of the period $ (1,775 ) $ 4,630 Investment gains (losses) on securities sold during the period 89 430 (1,686 ) 5,060 Fixed maturity securities: Gross realized gains 6 20 Gross realized losses (49 ) (1 ) Other (6 ) 132 Investment gains (losses) (1,735 ) 5,211 Derivative contract gains (losses) (243 ) 489 $ (1,978 ) $ 5,700 |
Loans and finance receivables (
Loans and finance receivables (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Schedule of receivables | Other receivables are comprised of the following (in millions). March 31, 2022 December 31, 2021 Insurance and other: Insurance premiums receivable $ 16,305 $ 15,050 Reinsurance recoverables 4,880 4,900 Trade receivables 14,333 12,971 Other 4,122 3,146 Allowances for credit losses (677 ) (679 ) $ 38,963 $ 35,388 Railroad, utilities and energy: Trade receivables $ 3,645 $ 3,678 Other 596 650 Allowances for credit losses (149 ) (151 ) $ 4,092 $ 4,177 |
Loans and Finance Receivables [Member] | |
Schedule of receivables | Loans and finance receivables are summarized as follows (in millions). March 31, 2022 December 31, 2021 Loans and finance receivables before allowances and discounts $ 22,596 $ 22,065 Allowances for credit losses (781 ) (765 ) Unamortized acquisition discounts and points (550 ) (549 ) $ 21,265 $ 20,751 |
Schedule of reconciliation of allowance for credit losses on loans and finance receivables | Loans and finance receivables are principally manufactured home loans, and to a lesser extent, commercial loans and site-built home loans. Reconciliations of the allowance for credit losses on loans and finance receivables for the first quarter of 2022 and 2021 follow (in millions). First Quarter 2022 2021 Balance at beginning of year $ 765 $ 712 Provision for credit losses 22 27 Charge-offs, net of recoveries (6 ) (14 ) Balance at March 31 $ 781 $ 725 |
Manufactured Housing Loan Balances [Member] | |
Summary of performing and non-performing home loans before discounts and allowances by year of loan origination | A summary of performing and non-performing home loans before discounts and allowances by year of loan origination as of March 31, 2022 follows (in millions). Origination Year 2022 2021 2020 2019 2018 Prior Total Performing $ 2,038 $ 3,918 $ 3,065 $ 2,169 $ 1,642 $ 7,789 $ 20,621 Non-performing 2 3 8 8 6 46 73 $ 2,040 $ 3,921 $ 3,073 $ 2,177 $ 1,648 $ 7,835 $ 20,694 |
Other receivables (Tables)
Other receivables (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Receivables [Abstract] | |
Schedule of receivables | Other receivables are comprised of the following (in millions). March 31, 2022 December 31, 2021 Insurance and other: Insurance premiums receivable $ 16,305 $ 15,050 Reinsurance recoverables 4,880 4,900 Trade receivables 14,333 12,971 Other 4,122 3,146 Allowances for credit losses (677 ) (679 ) $ 38,963 $ 35,388 Railroad, utilities and energy: Trade receivables $ 3,645 $ 3,678 Other 596 650 Allowances for credit losses (149 ) (151 ) $ 4,092 $ 4,177 |
Inventories (Tables)
Inventories (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Inventory Disclosure [Abstract] | |
Schedule of inventories | Inventories are comprised of the following (in millions). March 31, 2022 December 31, 2021 Raw materials $ 6,180 $ 5,743 Work in process and other 3,537 3,192 Finished manufactured goods 5,031 4,530 Goods acquired for resale 7,824 7,489 $ 22,572 $ 20,954 |
Property, plant and equipment_2
Property, plant and equipment including equipment held for lease (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Schedule of depreciation expense | Depreciation expense for the first quarter of 2022 and 2021 is summarized below (in millions). First Quarter 2022 2021 Insurance and other $ 564 $ 576 Railroad, utilities and energy 1,542 1,496 $ 2,106 $ 2,072 |
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). March 31, 2022 December 31, 2021 Land, buildings and improvements $ 14,049 $ 14,070 Machinery and equipment 26,166 26,063 Furniture, fixtures and other 4,772 4,640 44,987 44,773 Accumulated depreciation (24,280 ) (23,939 ) $ 20,707 $ 20,834 |
Railroad, Utilities and Energy [Member] | |
Schedule of property, plant and equipment | A summary of property, plant and equipment of railroad and utilities and energy businesses follows (in millions). The utility generation, transmission and distribution systems and interstate natural gas pipeline assets are owned by regulated public utility and natural gas pipeline subsidiaries. March 31, 2022 December 31, 2021 Railroad: Land, track structure and other roadway $ 65,256 $ 65,843 Locomotives, freight cars and other equipment 15,910 13,822 Construction in progress 1,101 1,027 82,267 80,692 Accumulated depreciation (16,535 ) (14,978 ) 65,732 65,714 Utilities and energy: Utility generation, transmission and distribution systems 90,560 90,223 Interstate natural gas pipeline assets 17,526 17,423 Independent power plants and other assets 13,986 13,695 Construction in progress 4,605 4,196 126,677 125,537 Accumulated depreciation (36,394 ) (35,721 ) 90,283 89,816 $ 156,015 $ 155,530 |
Equipment held for lease (Table
Equipment held for lease (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Property Plant And Equipment [Abstract] | |
Summary of equipment held for lease | Equipment held for lease includes railcars, aircraft, over-the-road trailers, intermodal tank containers, cranes, storage units and furniture. Equipment held for lease is summarized below (in millions). March 31, 2022 December 31, 2021 Railcars $ 9,532 $ 9,448 Aircraft 9,439 9,234 Other 5,196 5,053 24,167 23,735 Accumulated depreciation (9,129 ) (8,817 ) $ 15,038 $ 14,918 |
Summary of fixed and variable operating lease revenues | Fixed and variable First Quarter 2022 2021 Fixed lease revenue $ 1,188 $ 1,062 Variable lease revenue 484 262 $ 1,672 $ 1,324 |
Goodwill and other intangible_2
Goodwill and other intangible assets (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Reconciliation of the change in goodwill | Reconciliations of the changes in the carrying value of goodwill for the first quarter of 2022 and for the year ended December 31, 2021 follow (in millions). March 31, 2022 December 31, 2021 Balance at beginning of year $ 73,875 $ 73,734 Business acquisitions 5 353 Other, including foreign currency translation (58 ) (212 ) Balance at end of period* $ 73,822 $ 73,875 * Net of accumulated goodwill impairments of $11.0 billion as of March 31, 2022 and December 31, 2021. |
Schedule of intangible assets | The gross carrying amounts and related accumulated amortization of other intangible assets are summarized as follows (in millions). March 31, 2022 December 31, 2021 Gross carrying amount Accumulated amortization Net carrying value Gross carrying amount Accumulated amortization Net carrying value Insurance and other: Customer relationships $ 27,323 $ 6,616 $ 20,707 $ 27,335 $ 6,450 $ 20,885 Trademarks and trade names 5,171 807 4,364 5,176 802 4,374 Patents and technology 4,818 3,547 1,271 4,763 3,484 1,279 Other 3,326 1,457 1,869 3,390 1,442 1,948 $ 40,638 $ 12,427 $ 28,211 $ 40,664 $ 12,178 $ 28,486 Railroad, utilities and energy: Customer relationships $ 678 $ 404 $ 274 $ 678 $ 396 $ 282 Trademarks, trade names and other 1,015 157 858 1,015 146 869 $ 1,693 $ 561 $ 1,132 $ 1,693 $ 542 $ 1,151 |
Unpaid losses and loss adjust_2
Unpaid losses and loss adjustment expenses (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Insurance [Abstract] | |
Schedule of liability for unpaid claims and claims adjustment expense | A reconciliation of the changes in claim liabilities, excluding liabilities under retroactive reinsurance contracts (see Note 14), for each of the three-month periods ending March 31, 2022 and 2021 follows (in millions). 2022 2021 Balances at beginning of year: Gross liabilities $ 86,664 $ 79,854 Reinsurance recoverable on unpaid losses (2,960 ) (2,912 ) Net liabilities 83,704 76,942 Incurred losses and loss adjustment expenses: Current accident year 13,375 11,363 Prior accident years (251 ) (646 ) Total 13,124 10,717 Paid losses and loss adjustment expenses: Current accident year (3,908 ) (3,214 ) Prior accident years (8,091 ) (6,454 ) Total (11,999 ) (9,668 ) Foreign currency effect (106 ) (94 ) Balances at March 31: Net liabilities 84,723 77,897 Reinsurance recoverable on unpaid losses 2,944 3,064 Gross liabilities $ 87,667 $ 80,961 |
Retroactive reinsurance contr_2
Retroactive reinsurance contracts (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Insurance [Abstract] | |
Reconciliation of changes in retroactive reinsurance claim liabilities and deferred charges | Reconciliations of the changes in estimated liabilities for retroactive reinsurance unpaid losses and loss adjustment expenses (“claim liabilities”) and related deferred charges for each of the three-month periods ending March 31, 2022 and 2021 follow (in millions). 2022 2021 Unpaid losses and loss adjustment expenses Deferred charges - retroactive reinsurance Unpaid losses and loss adjustment expenses Deferred charges - retroactive reinsurance Balances at beginning of year $ 38,256 $ (10,639 ) $ 40,966 $ (12,441 ) Incurred losses and loss adjustment expenses: Current year contracts — — — — Prior years’ contracts (7 ) 215 (5 ) 252 Total (7 ) 215 (5 ) 252 Paid losses and loss adjustment expenses (547 ) — (276 ) — Balances at March 31 $ 37,702 $ (10,424 ) $ 40,685 $ (12,189 ) Incurred losses and loss adjustment expenses, net of deferred charges $ 208 $ 247 |
Notes payable and other borro_2
Notes payable and other borrowings (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Schedule of short and long term outstanding debt disclosure | Notes payable and other borrowings are summarized below (in millions). The weighted average interest rates and maturity date ranges shown in the following tables are based on borrowings as of March 31, 2022. Weighted Average Interest Rate March 31, 2022 December 31, 2021 Insurance and other: Berkshire Hathaway Inc. (“Berkshire”): U.S. Dollar denominated due 2023-2047 3.3 % $ 6,222 $ 6,820 Euro denominated due 2023-2041 1.0 % 7,586 7,792 Japanese Yen denominated due 2023-2060 0.6 % 7,479 6,797 Berkshire Hathaway Finance Corporation (“BHFC”): U.S. Dollar denominated due 2022-2052 3.6 % 15,235 10,758 Great Britain Pound denominated due 2039-2059 2.5 % 2,258 2,325 Euro denominated due 2030-2034 1.8 % 1,378 — Other subsidiary borrowings due 2022-2045 4.1 % 4,426 4,438 Subsidiary short-term borrowings 3.2 % 306 342 $ 44,890 $ 39,272 |
Railroad, Utilities and Energy [Member] | |
Schedule of short and long term outstanding debt disclosure | Weighted Average Interest Rate March 31, 2022 December 31, 2021 Railroad, utilities and energy: Berkshire Hathaway Energy Company (“BHE”) and subsidiaries: BHE senior unsecured debt due 2023-2051 4.3 % $ 13,003 $ 13,003 Subsidiary and other debt due 2022-2064 4.1 % 36,901 36,759 Short-term borrowings 1.6 % 1,849 2,009 Burlington Northern Santa Fe ("BNSF") and subsidiaries due 2022-2097 4.5 % 23,018 23,219 $ 74,771 $ 74,990 |
Fair value measurements (Tables
Fair value measurements (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Fair Value Disclosures [Abstract] | |
Financial assets and liabilities measured at fair value on a recurring basis | Our financial assets and liabilities are summarized below as of March 31, 2022 and December 31, 2021, with fair values shown according to the fair value hierarchy (in millions). The carrying values of cash and cash equivalents, U.S. Treasury Bills, other receivables and accounts payable, accruals and other liabilities are considered to be reasonable estimates of their fair values. Carrying Value Fair Value Quoted Prices (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) March 31, 2022 Investments in fixed maturity securities: U.S. Treasury, U.S. government corporations and agencies $ 8,708 $ 8,708 $ 8,669 $ 39 $ — Foreign governments 11,080 11,080 10,543 537 — Corporate bonds 1,590 1,590 — 1,590 — Other 340 340 — 340 — Investments in equity securities 390,538 390,538 378,190 7 12,341 Investment in Kraft Heinz common stock 13,191 12,819 12,819 — — Loans and finance receivables 21,265 22,584 — 2,135 20,449 Derivative contract assets (1) 636 636 24 528 84 Derivative contract liabilities (1) 454 454 1 143 310 Notes payable and other borrowings: Insurance and other 44,890 45,145 — 45,101 44 Railroad, utilities and energy 74,771 79,234 — 79,234 — December 31, 2021 Investments in fixed maturity securities: U.S. Treasury, U.S. government corporations and agencies $ 3,303 $ 3,303 $ 3,261 $ 42 $ — Foreign governments 10,994 10,994 10,286 708 — Corporate bonds 1,774 1,774 — 1,774 — Other 363 363 — 363 — Investments in equity securities 350,719 350,719 339,225 8 11,486 Investment in Kraft Heinz common stock 13,112 11,683 11,683 — — Loans and finance receivables 20,751 22,174 — 2,178 19,996 Derivative contract assets (1) 329 329 6 230 93 Derivative contract liabilities (1) 376 376 2 150 224 Notes payable and other borrowings: Insurance and other 39,272 42,339 — 42,292 47 Railroad, utilities and energy 74,990 87,065 — 87,065 — (1) |
Reconciliations of significant assets and liabilities measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) | Reconciliations of significant assets and liabilities measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) for the three months ended March 31, 2022 and 2021 follow (in millions). Balance at beginning of year Gains included in earnings Acquisitions, dispositions and settlements Transfers out of Level 3 Balance at March 31 Investments in equity securities: 2022 $ 11,480 $ 855 $ — $ — $ 12,335 2021 8,978 823 600 — 10,401 Equity index put option contract liabilities: 2021 (1,065 ) 489 (1 ) — (577 ) |
Fair value assets and liabilities measured on recurring basis, unobservable inputs, additional information | Quantitative information as of March 31, 2022 with respect to significant assets and liabilities measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) follows (dollars in millions). Fair Value Principal Valuation Techniques Unobservable Inputs Weighted Average Investments in equity securities: Preferred stock $ 10,497 Discounted cash flow Expected duration 7 years Discount for transferability restrictions and subordination 372 bps Common stock warrants 1,838 Warrant pricing model Expected duration 7 years Volatility 38% |
Common stock (Tables)
Common stock (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Equity [Abstract] | |
Changes in issued, treasury and outstanding Berkshire common stock | Changes in Berkshire’s issued, treasury and outstanding common stock during the first quarter of 2022 are shown in the table below. In addition to our common stock, 1,000,000 shares of preferred stock are authorized, but none are issued. Class A, $5 Par Value (1,650,000 shares authorized) Class B, $0.0033 Par Value (3,225,000,000 shares authorized) Issued Treasury Outstanding Issued Treasury Outstanding Balances at December 31, 2021 665,901 (48,788 ) 617,113 1,488,292,852 (197,818,349 ) 1,290,474,503 Conversions of Class A common stock to Class B common stock (1,148 ) — (1,148 ) 1,722,000 — 1,722,000 Treasury stock acquired — (2,005 ) (2,005 ) — (6,824,671 ) (6,824,671 ) Balances at March 31, 2022 664,753 (50,793 ) 613,960 1,490,014,852 (204,643,020 ) 1,285,371,832 |
Accumulated other comprehensi_2
Accumulated other comprehensive income (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Equity [Abstract] | |
Schedule of accumulated other comprehensive income | A summary of the net changes in after-tax accumulated other comprehensive income attributable to Berkshire Hathaway shareholders for the three months ending March 31, 2022 and 2021 follows (in millions). Unrealized appreciation of fixed maturity securities, net Foreign currency translation Defined benefit pension plans Other Accumulated other comprehensive income First quarter of 2022 Balance at beginning of year $ 369 $ (4,092 ) $ (347 ) $ 43 $ (4,027 ) Other comprehensive income, net (186 ) (315 ) 20 80 (401 ) Balance at end of period $ 183 $ (4,407 ) $ (327 ) $ 123 $ (4,428 ) First quarter of 2021 Balance at beginning of year $ 536 $ (3,082 ) $ (1,645 ) $ (52 ) $ (4,243 ) Other comprehensive income, net (67 ) (297 ) 40 (3 ) (327 ) Balance at end of period $ 469 $ (3,379 ) $ (1,605 ) $ (55 ) $ (4,570 ) |
Supplemental cash flow inform_2
Supplemental cash flow information (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Supplemental Cash Flow Elements [Abstract] | |
Schedule of supplemental cash flow information | A summary of supplemental cash flow information is presented in the following table (in millions). First Quarter 2022 2021 Cash paid during the period for: Income taxes $ 336 $ 256 Interest: Insurance and other 365 400 Railroad, utilities and energy 708 740 |
Revenues from contracts with _2
Revenues from contracts with customers (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Revenue From Contract With Customer [Abstract] | |
Revenue from contracts with customers disaggregated by reportable segment and source of revenue | The following tables summarize customer contract revenues disaggregated by reportable segment and the source of the revenue for the first quarter of 2022 and 2021 (in millions). Other revenues, which are not considered to be revenues from contracts with customers under GAAP, are primarily insurance premiums earned, interest, dividend and other investment income and leasing revenues. Manufacturing McLane Service and Retailing BNSF Berkshire Hathaway Energy Insurance, Corporate and other Total Three months ending March 31, 2022 Manufactured products: Industrial and commercial products $ 5,932 $ — $ 49 $ — $ — $ — $ 5,981 Building products 5,419 — — — — — 5,419 Consumer products 5,093 — — — — — 5,093 Grocery and convenience store distribution — 7,706 — — — — 7,706 Food and beverage distribution — 4,562 — — — — 4,562 Auto sales — — 2,527 — — — 2,527 Other retail and wholesale distribution 722 — 4,175 — — — 4,897 Service 264 214 1,006 5,931 1,112 — 8,527 Electricity and natural gas — — — — 4,714 — 4,714 Total 17,430 12,482 7,757 5,931 5,826 — 49,426 Other revenues 955 32 1,334 13 152 18,898 21,384 $ 18,385 $ 12,514 $ 9,091 $ 5,944 $ 5,978 $ 18,898 $ 70,810 Three months ending March 31, 2021 Manufactured products: Industrial and commercial products $ 5,363 $ — $ 50 $ — $ — $ — $ 5,413 Building products 4,399 — — — — — 4,399 Consumer products 4,163 — — — — — 4,163 Grocery and convenience store distribution — 7,442 — — — — 7,442 Food and beverage distribution — 4,004 — — — — 4,004 Auto sales — — 2,312 — — — 2,312 Other retail and wholesale distribution 703 — 3,656 — — — 4,359 Service 329 151 934 5,365 1,040 — 7,819 Electricity and natural gas — — — — 4,712 — 4,712 Total 14,957 11,597 6,952 5,365 5,752 — 44,623 Other revenues 923 25 991 13 172 17,852 19,976 $ 15,880 $ 11,622 $ 7,943 $ 5,378 $ 5,924 $ 17,852 $ 64,599 |
Transaction price allocated to significant unsatisfied remaining performance obligations and timing of when performance obligations expected to be satisfied | A summary of the transaction price allocated to the significant unsatisfied remaining performance obligations relating to contracts with expected durations in excess of one year as of March 31, 2022 and the timing of when the performance obligations are expected to be satisfied follows (in millions). Less than 12 months Greater than 12 months Total Electricity and natural gas $ 2,878 $ 22,103 $ 24,981 Other sales and service contracts 1,494 2,423 3,917 |
Business segment data (Tables)
Business segment data (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Segment Reporting [Abstract] | |
Schedule of revenues and earnings or loss before income taxes by segment | Our operating businesses include a large and diverse group of insurance, manufacturing, service and retailing businesses. We organize our reportable business segments in a manner that reflects how management views those business activities. Certain businesses are grouped together for segment reporting based upon similar products or product lines and marketing, selling and distribution characteristics, even though those business units are operated under separate local management. Revenues and earnings before income taxes by segment for the first quarter of 2022 and 2021 were as follows (in millions). First Quarter 2022 2021 Revenues of Operating Businesses Insurance: Underwriting: GEICO $ 9,554 $ 8,923 Berkshire Hathaway Primary Group 3,118 2,654 Berkshire Hathaway Reinsurance Group 4,820 4,847 Investment income 1,364 1,414 Total insurance 18,856 17,838 BNSF 5,968 5,401 BHE 5,983 5,924 Manufacturing 18,421 15,913 McLane 12,515 11,622 Service and retailing 9,115 7,958 70,858 64,656 Reconciliation of segments to consolidated amount Corporate, eliminations and other (48 ) (57 ) $ 70,810 $ 64,599 First Quarter 2022 2021 Earnings Before Income Taxes of Operating Businesses Insurance: Underwriting: GEICO $ (178 ) $ 1,023 Berkshire Hathaway Primary Group 92 206 Berkshire Hathaway Reinsurance Group 156 (263 ) Investment income 1,361 1,412 Total insurance 1,431 2,378 BNSF 1,809 1,659 BHE 676 683 Manufacturing 2,824 2,436 McLane 82 103 Service and retailing 1,135 938 7,957 8,197 Reconciliation of segments to consolidated amount Investment and derivative gains (losses) (1,978 ) 5,700 Interest expense, not allocated to segments (104 ) (114 ) Equity method investments 376 251 Corporate, eliminations and other 561 494 $ 6,812 $ 14,528 |
Investments in fixed maturity_3
Investments in fixed maturity securities (Detail) - USD ($) $ in Millions | Mar. 31, 2022 | Dec. 31, 2021 |
Summary of Investment Holdings [Line Items] | ||
Amortized cost of fixed maturity securities | $ 21,485 | $ 15,964 |
Unrealized gains on fixed maturity securities | 396 | 510 |
Unrealized losses on fixed maturity securities | (163) | (40) |
Fair value of fixed maturity securities | 21,718 | 16,434 |
U.S. Treasury, U.S. government corporations and agencies [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Amortized cost of fixed maturity securities | 8,793 | 3,286 |
Unrealized gains on fixed maturity securities | 12 | 22 |
Unrealized losses on fixed maturity securities | (97) | (5) |
Fair value of fixed maturity securities | 8,708 | 3,303 |
Foreign governments [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Amortized cost of fixed maturity securities | 11,116 | 10,998 |
Unrealized gains on fixed maturity securities | 26 | 29 |
Unrealized losses on fixed maturity securities | (62) | (33) |
Fair value of fixed maturity securities | 11,080 | 10,994 |
Corporate bonds [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Amortized cost of fixed maturity securities | 1,268 | 1,363 |
Unrealized gains on fixed maturity securities | 324 | 412 |
Unrealized losses on fixed maturity securities | (2) | (1) |
Fair value of fixed maturity securities | 1,590 | 1,774 |
Other [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Amortized cost of fixed maturity securities | 308 | 317 |
Unrealized gains on fixed maturity securities | 34 | 47 |
Unrealized losses on fixed maturity securities | (2) | (1) |
Fair value of fixed maturity securities | $ 340 | $ 363 |
Investments in fixed maturity_4
Investments in fixed maturity securities - Narrative (Detail) | Mar. 31, 2022 |
Foreign governments [Member] | AA or Higher Credit Rating [Member] | |
Summary of Investment Holdings [Line Items] | |
Percentage of fixed maturity investments by credit rating | 94.00% |
Investments in fixed maturity_5
Investments in fixed maturity securities - Amortized cost and estimated fair value of securities with fixed maturities (Detail) - USD ($) $ in Millions | Mar. 31, 2022 | Dec. 31, 2021 |
Summary of Investment Holdings [Line Items] | ||
Due in one year or less - amortized cost | $ 10,272 | |
Due after one year through five years - amortized cost | 10,456 | |
Due after five years through ten years - amortized cost | 443 | |
Due after ten years - amortized cost | 92 | |
Amortized cost of fixed maturity securities | 21,485 | $ 15,964 |
Due in one year or less - fair value | 10,250 | |
Due after one year through five years - fair value | 10,370 | |
Due after five years through ten years - fair value | 734 | |
Due after ten years - fair value | 112 | |
Fair value of fixed maturity securities | 21,718 | $ 16,434 |
Mortgage-backed securities [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Amortized cost of mortgage-backed securities | 222 | |
Fair value of mortgage-backed securities | $ 252 |
Investments in equity securit_3
Investments in equity securities (Detail) - USD ($) $ in Millions | Mar. 31, 2022 | Dec. 31, 2021 | ||
Summary of Investment Holdings [Line Items] | ||||
Cost Basis | $ 145,536 | $ 104,605 | ||
Net Unrealized Gains | 245,002 | 246,114 | ||
Fair Value | 390,538 | [1] | 350,719 | [2] |
Banks, insurance and finance [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Cost Basis | 36,472 | 26,822 | ||
Net Unrealized Gains | 61,657 | 62,236 | ||
Fair Value | 98,129 | 89,058 | ||
Consumer products [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Cost Basis | 40,932 | 36,076 | ||
Net Unrealized Gains | 153,536 | 154,945 | ||
Fair Value | 194,468 | 191,021 | ||
Commercial, industrial and other [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Cost Basis | 68,132 | 41,707 | ||
Net Unrealized Gains | 29,809 | 28,933 | ||
Fair Value | $ 97,941 | $ 70,640 | ||
[1] | Approximately 66% of the aggregate fair value was concentrated in four companies (American Express Company – $28.4 billion; Apple Inc. – $159.1 billion; Bank of America Corporation – $42.6 billion and Chevron Corporation – $25.9 billion). | |||
[2] | Approximately 73% of the aggregate fair value was concentrated in four companies (American Express Company – $24.8 billion; Apple Inc. – $161.2 billion; Bank of America Corporation – $46.0 billion and The Coca-Cola Company – $23.7 billion). |
Investments in equity securit_4
Investments in equity securities (Parenthetical) (Detail) $ in Millions | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2022USD ($)Company | Dec. 31, 2021USD ($)Company | |||
Summary of Investment Holdings [Line Items] | ||||
Fair value of investments | $ 390,538 | [1] | $ 350,719 | [2] |
American Express Company [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Fair value of investments | 28,400 | 24,800 | ||
Apple Inc. [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Fair value of investments | 159,100 | 161,200 | ||
Bank of America Corporation [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Fair value of investments | 42,600 | 46,000 | ||
Chevron Corporation [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Fair value of investments | $ 25,900 | |||
Coca Cola Company [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Fair value of investments | $ 23,700 | |||
Equity Securities [Member] | American Express Company, Apple Inc., Bank of America Corporation and Chevron Corporation [Member] | Investment Concentration [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Concentration percentage | 66.00% | |||
Number of companies in concentration percentage | Company | 4 | |||
Equity Securities [Member] | American Express Company, Apple Inc., Bank of America Corporation and The Coca-Cola Company [Member] | Investment Concentration [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Concentration percentage | 73.00% | |||
Number of companies in concentration percentage | Company | 4 | |||
[1] | Approximately 66% of the aggregate fair value was concentrated in four companies (American Express Company – $28.4 billion; Apple Inc. – $159.1 billion; Bank of America Corporation – $42.6 billion and Chevron Corporation – $25.9 billion). | |||
[2] | Approximately 73% of the aggregate fair value was concentrated in four companies (American Express Company – $24.8 billion; Apple Inc. – $161.2 billion; Bank of America Corporation – $46.0 billion and The Coca-Cola Company – $23.7 billion). |
Investments in equity securit_5
Investments in equity securities - Narrative (Detail) - Occidental Corporation [Member] - Investment Commitment [Member] $ / shares in Units, $ in Billions | 3 Months Ended |
Mar. 31, 2022USD ($)$ / sharesshares | |
Summary of Investment Holdings [Line Items] | |
Number of common shares that can be purchased | shares | 83,860,000 |
Exercise price for warrants, per share | $ / shares | $ 59.62 |
Cumulative Perpetual Preferred Stock [Member] | |
Summary of Investment Holdings [Line Items] | |
Investment in preferred stock, liquidation value | $ | $ 10 |
Investment in preferred stock, stated dividend rate | 8.00% |
Investment in preferred stock, redemption year start | 2029 |
Investment in preferred stock, redemption price percentage of liquidation preference | 105.00% |
Equity method investments - Nar
Equity method investments - Narrative (Detail) | 3 Months Ended | ||
Mar. 31, 2022USD ($)StoreLocation | Mar. 31, 2021USD ($) | Dec. 31, 2021USD ($) | |
Schedule Of Equity Method Investments [Line Items] | |||
Equity method earnings | $ 376,000,000 | $ 251,000,000 | |
Pilot Travel Centers LLC [Member] | |||
Schedule Of Equity Method Investments [Line Items] | |||
Number of retail | Store | 800 | ||
Pilot Travel Centers LLC [Member] | U.S. States [Member] | |||
Schedule Of Equity Method Investments [Line Items] | |||
Number of places retail locations located | Location | 44 | ||
Pilot Travel Centers LLC [Member] | Canadian Provinces [Member] | |||
Schedule Of Equity Method Investments [Line Items] | |||
Number of places retail locations located | Location | 6 | ||
Pilot Travel Centers LLC [Member] | Berkshire Hathaway Inc. (Parent) [Member] | |||
Schedule Of Equity Method Investments [Line Items] | |||
Ownership percentage | 38.60% | ||
Pilot Travel Centers LLC [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Agreement to Acquire Additional Interest in 2023 [Member] | |||
Schedule Of Equity Method Investments [Line Items] | |||
Percentage of additional interest to be acquired | 41.40% | ||
Haslam Family [Member] | Pilot Travel Centers LLC [Member] | |||
Schedule Of Equity Method Investments [Line Items] | |||
Majority ownership percentage | 50.10% | ||
Haslam Family [Member] | Pilot Travel Centers LLC [Member] | Agreement to Acquire Additional Interest in 2023 [Member] | |||
Schedule Of Equity Method Investments [Line Items] | |||
Ownership percentage | 20.00% | ||
Third Party [Member] | Pilot Travel Centers LLC [Member] | |||
Schedule Of Equity Method Investments [Line Items] | |||
Ownership percentage | 11.30% | ||
The Kraft Heinz Company [Member] | |||
Schedule Of Equity Method Investments [Line Items] | |||
Equity method investment ownership percentage | 26.60% | ||
Equity method earnings | $ 206,000,000 | 150,000,000 | |
Common stock dividends received | 130,000,000 | 130,000,000 | |
Equity method investments, fair value | 12,800,000,000 | $ 11,700,000,000 | |
Equity method investments, carrying value | $ 13,200,000,000 | 13,100,000,000 | |
Difference between carrying value and fair value percentage | 3.00% | ||
Berkadia Commercial Mortgage LLC, Pilot Travel Centers LLC, Electric Transmission Texas, LLC and Iroquois Gas Transmission System LP [Member] | |||
Schedule Of Equity Method Investments [Line Items] | |||
Equity method earnings | $ 170,000,000 | 101,000,000 | |
Equity method investments, carrying value | 4,400,000,000 | $ 4,300,000,000 | |
Equity method investment aggregate distributions | $ 28,000,000 | $ 896,000,000 | |
Berkadia Commercial Mortgage LLC [Member] | |||
Schedule Of Equity Method Investments [Line Items] | |||
Equity method investment ownership percentage | 50.00% | ||
Commercial paper outstanding | $ 1,470,000,000 | ||
Berkadia Commercial Mortgage LLC [Member] | Commercial Paper [Member] | |||
Schedule Of Equity Method Investments [Line Items] | |||
Maximum outstanding balance of commercial paper borrowings | $ 1,500,000,000 | ||
Berkadia Commercial Mortgage LLC [Member] | Jefferies Financial Group Inc. [Member] | |||
Schedule Of Equity Method Investments [Line Items] | |||
Equity method investment ownership percentage | 50.00% | ||
Electric Transmission Texas, LLC [Member] | Berkshire Hathaway Energy Company Subsidiary [Member] | |||
Schedule Of Equity Method Investments [Line Items] | |||
Equity method investment ownership percentage | 50.00% | ||
Iroquois [Member] | Berkshire Hathaway Energy Company Subsidiary [Member] | |||
Schedule Of Equity Method Investments [Line Items] | |||
Equity method investment ownership percentage | 50.00% |
Equity method investments - Una
Equity method investments - Unaudited financial information (Detail) - USD ($) $ in Millions | 3 Months Ended | |||||
Mar. 31, 2022 | Mar. 26, 2022 | Mar. 31, 2021 | Mar. 27, 2021 | Dec. 31, 2021 | Dec. 25, 2021 | |
Schedule Of Equity Method Investments [Line Items] | ||||||
Assets | $ 969,506 | $ 958,784 | ||||
Sales | $ 70,810 | $ 64,599 | ||||
The Kraft Heinz Company [Member] | ||||||
Schedule Of Equity Method Investments [Line Items] | ||||||
Assets | $ 93,864 | $ 93,394 | ||||
Liabilities | 44,020 | $ 43,942 | ||||
Sales | 6,045 | $ 6,394 | ||||
Net earnings attributable to Kraft Heinz common shareholders | $ 776 | $ 563 |
Investment and derivative con_3
Investment and derivative contract gains/losses (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Investments Debt And Equity Securities [Abstract] | ||
Equity securities - Change in unrealized investment gains (losses) during the period on securities held at the end of the period | $ (1,775) | $ 4,630 |
Equity securities - Investment gains (losses) on securities sold during the period | 89 | 430 |
Equity securities - Investment gains (losses), total | (1,686) | 5,060 |
Fixed maturity securities - Gross realized gains | 6 | 20 |
Fixed maturity securities - Gross realized losses | (49) | (1) |
Other | (6) | 132 |
Investment gains (losses) | (1,735) | 5,211 |
Derivative contract gains (losses) | (243) | 489 |
Investment and derivative contract gains (losses) | $ (1,978) | $ 5,700 |
Investment and derivative con_4
Investment and derivative contract gains/losses - Narrative (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Investments Debt And Equity Securities [Abstract] | ||
Sales of equity securities | $ 9,724 | $ 6,451 |
Taxable gains (losses) on sales of equity securities | (739) | $ 1,800 |
Aggregate fair value of liability | 121 | |
Aggregate Notional value | $ 2,600 |
Loans and finance receivables_2
Loans and finance receivables (Detail) - USD ($) $ in Millions | Mar. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2021 | Dec. 31, 2020 |
Receivables [Abstract] | ||||
Loans and finance receivables before allowances and discounts | $ 22,596 | $ 22,065 | ||
Allowances for credit losses | (781) | (765) | $ (725) | $ (712) |
Unamortized acquisition discounts and points | (550) | (549) | ||
Loans and finance receivables | $ 21,265 | $ 20,751 |
Loans and finance receivables -
Loans and finance receivables - Schedule of reconciliation of allowance for credit losses on loans and finance receivables (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Allowance For Credit Loss [Abstract] | ||
Balance at beginning of year | $ 765 | $ 712 |
Provision for credit losses | 22 | 27 |
Charge-offs, net of recoveries | (6) | (14) |
Balance at March 31 | $ 781 | $ 725 |
Loans and finance receivables_3
Loans and finance receivables - Narrative (Detail) - USD ($) | 3 Months Ended | |
Mar. 31, 2022 | Dec. 31, 2021 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Aggregated loan balance | $ 22,596,000,000 | $ 22,065,000,000 |
Seritage Growth Properties and Lee Enterprises, Inc. [Member] | Term Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Aggregated loan balance | 1,900,000,000 | $ 1,900,000,000 |
Seritage Growth Properties [Member] | Term Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Term loan facility | $ 2,000,000,000 | |
Loan expiration date | Jul. 31, 2023 | |
Extended loan maturity date | Jul. 31, 2025 | |
Maximum principal loan balance to extend loan maturity period | $ 800,000,000 | |
Lee Enterprises, Inc. [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loan agreements maturity year | 2045 | |
Manufactured Housing Loan Balances [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Percent of manufactured housing loan balances evaluated collectively for impairment | 99.00% | |
Percent of loan balances considered to be current as to payment status | 98.00% | |
Aggregated loan balance | $ 20,694,000,000 |
Loans and finance receivables_4
Loans and finance receivables - Summary of performing and non-performing home loans before discounts and allowances by year of loan origination (Detail) - USD ($) $ in Millions | Mar. 31, 2022 | Dec. 31, 2021 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and financing receivables by origination year, Total | $ 22,596 | $ 22,065 |
Manufactured Housing Loan Balances [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and financing receivables by origination year, 2022 | 2,040 | |
Loans and financing receivables by origination year, 2021 | 3,921 | |
Loans and financing receivables by origination year, 2020 | 3,073 | |
Loans and financing receivables by origination year, 2019 | 2,177 | |
Loans and financing receivables by origination year, 2018 | 1,648 | |
Loans and financing receivables by origination year, Prior | 7,835 | |
Loans and financing receivables by origination year, Total | 20,694 | |
Performing [Member] | Manufactured Housing Loan Balances [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and financing receivables by origination year, 2022 | 2,038 | |
Loans and financing receivables by origination year, 2021 | 3,918 | |
Loans and financing receivables by origination year, 2020 | 3,065 | |
Loans and financing receivables by origination year, 2019 | 2,169 | |
Loans and financing receivables by origination year, 2018 | 1,642 | |
Loans and financing receivables by origination year, Prior | 7,789 | |
Loans and financing receivables by origination year, Total | 20,621 | |
Non-Performing [Member] | Manufactured Housing Loan Balances [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and financing receivables by origination year, 2022 | 2 | |
Loans and financing receivables by origination year, 2021 | 3 | |
Loans and financing receivables by origination year, 2020 | 8 | |
Loans and financing receivables by origination year, 2019 | 8 | |
Loans and financing receivables by origination year, 2018 | 6 | |
Loans and financing receivables by origination year, Prior | 46 | |
Loans and financing receivables by origination year, Total | $ 73 |
Other receivables (Detail)
Other receivables (Detail) - USD ($) $ in Millions | Mar. 31, 2022 | Dec. 31, 2021 |
Insurance and Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Insurance premiums receivable | $ 16,305 | $ 15,050 |
Reinsurance recoverables | 4,880 | 4,900 |
Trade receivables | 14,333 | 12,971 |
Other | 4,122 | 3,146 |
Allowances for credit losses | (677) | (679) |
Other receivables | 38,963 | 35,388 |
Railroad, Utilities and Energy [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Trade receivables | 3,645 | 3,678 |
Other | 596 | 650 |
Allowances for credit losses | (149) | (151) |
Receivables | $ 4,092 | $ 4,177 |
Other receivables - Narrative (
Other receivables - Narrative (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Receivables [Abstract] | ||
Provisions for credit losses on receivables | $ 92 | $ 18 |
Charge-offs, net of recoveries | $ 95 | $ 28 |
Inventories (Detail)
Inventories (Detail) - USD ($) $ in Millions | Mar. 31, 2022 | Dec. 31, 2021 |
Inventory Disclosure [Abstract] | ||
Raw materials | $ 6,180 | $ 5,743 |
Work in process and other | 3,537 | 3,192 |
Finished manufactured goods | 5,031 | 4,530 |
Goods acquired for resale | 7,824 | 7,489 |
Total inventory | $ 22,572 | $ 20,954 |
Property, plant and equipment (
Property, plant and equipment (Detail) - USD ($) $ in Millions | Mar. 31, 2022 | Dec. 31, 2021 |
Insurance and Other [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | $ 44,987 | $ 44,773 |
Property, plant and equipment, accumulated depreciation | (24,280) | (23,939) |
Total property, plant and equipment, net | 20,707 | 20,834 |
Insurance and Other [Member] | Land, buildings and improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 14,049 | 14,070 |
Insurance and Other [Member] | Machinery and equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 26,166 | 26,063 |
Insurance and Other [Member] | Furniture, fixtures and other [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 4,772 | 4,640 |
Railroad [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 82,267 | 80,692 |
Property, plant and equipment, accumulated depreciation | (16,535) | (14,978) |
Total property, plant and equipment, net | 65,732 | 65,714 |
Railroad [Member] | Land, track structure and other roadway [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 65,256 | 65,843 |
Railroad [Member] | Locomotives, freight cars and other equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 15,910 | 13,822 |
Railroad [Member] | Construction in progress [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 1,101 | 1,027 |
Utilities and Energy [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 126,677 | 125,537 |
Property, plant and equipment, accumulated depreciation | (36,394) | (35,721) |
Total property, plant and equipment, net | 90,283 | 89,816 |
Utilities and Energy [Member] | Utility generation, transmission and distribution systems [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 90,560 | 90,223 |
Utilities and Energy [Member] | Interstate natural gas pipeline assets [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 17,526 | 17,423 |
Utilities and Energy [Member] | Independent power plants and other assets [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 13,986 | 13,695 |
Utilities and Energy [Member] | Construction in progress [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 4,605 | 4,196 |
Railroad, Utilities and Energy [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property, plant and equipment, net | $ 156,015 | $ 155,530 |
Property, plant and equipment -
Property, plant and equipment - Depreciation expense (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Property, Plant and Equipment [Line Items] | ||
Depreciation expense | $ 2,106 | $ 2,072 |
Insurance and Other [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Depreciation expense | 564 | 576 |
Railroad, Utilities and Energy [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Depreciation expense | $ 1,542 | $ 1,496 |
Equipment held for lease (Detai
Equipment held for lease (Detail) - USD ($) $ in Millions | Mar. 31, 2022 | Dec. 31, 2021 |
Property Subject to or Available for Operating Lease [Line Items] | ||
Equipment held for lease, gross | $ 24,167 | $ 23,735 |
Equipment held for lease, accumulated depreciation | (9,129) | (8,817) |
Equipment held for lease, net | 15,038 | 14,918 |
Railcars [Member] | ||
Property Subject to or Available for Operating Lease [Line Items] | ||
Equipment held for lease, gross | 9,532 | 9,448 |
Aircraft [Member] | ||
Property Subject to or Available for Operating Lease [Line Items] | ||
Equipment held for lease, gross | 9,439 | 9,234 |
Other [Member] | ||
Property Subject to or Available for Operating Lease [Line Items] | ||
Equipment held for lease, gross | $ 5,196 | $ 5,053 |
Equipment held for lease - Narr
Equipment held for lease - Narrative (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Leases [Abstract] | ||
Depreciation expense for equipment held for lease | $ 294 | $ 282 |
Equipment held for lease - Summ
Equipment held for lease - Summary of fixed and variable operating lease revenues (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Operating Leases Lease Income [Abstract] | ||
Fixed lease revenue | $ 1,188 | $ 1,062 |
Variable lease revenue | 484 | 262 |
Total | $ 1,672 | $ 1,324 |
Goodwill and other intangible_3
Goodwill and other intangible assets - Goodwill (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2022 | Dec. 31, 2021 | |||
Goodwill And Intangible Assets Disclosure [Abstract] | ||||
Balance at beginning of year | $ 73,875 | [1] | $ 73,734 | |
Business acquisitions | 5 | 353 | ||
Other, including foreign currency translation | (58) | (212) | ||
Balance at end of period | [1] | $ 73,822 | $ 73,875 | |
[1] | Net of accumulated goodwill impairments of $11.0 billion as of March 31, 2022 and December 31, 2021. |
Goodwill and other intangible_4
Goodwill and other intangible assets - Goodwill (Parenthetical) (Detail) - USD ($) $ in Billions | Mar. 31, 2022 | Dec. 31, 2021 |
Goodwill And Intangible Assets Disclosure [Abstract] | ||
Accumulated goodwill impairments | $ 11 | $ 11 |
Goodwill and other intangible_5
Goodwill and other intangible assets - Intangible assets (Detail) - USD ($) $ in Millions | Mar. 31, 2022 | Dec. 31, 2021 |
Insurance and Other [Member] | ||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | $ 40,638 | $ 40,664 |
Accumulated amortization | 12,427 | 12,178 |
Net carrying value | 28,211 | 28,486 |
Railroad, Utilities and Energy [Member] | ||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 1,693 | 1,693 |
Accumulated amortization | 561 | 542 |
Net carrying value | 1,132 | 1,151 |
Trademarks and trade names [Member] | Insurance and Other [Member] | ||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 5,171 | 5,176 |
Accumulated amortization | 807 | 802 |
Net carrying value | 4,364 | 4,374 |
Customer relationships [Member] | Insurance and Other [Member] | ||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 27,323 | 27,335 |
Accumulated amortization | 6,616 | 6,450 |
Net carrying value | 20,707 | 20,885 |
Customer relationships [Member] | Railroad, Utilities and Energy [Member] | ||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 678 | 678 |
Accumulated amortization | 404 | 396 |
Net carrying value | 274 | 282 |
Other intangible assets [Member] | Insurance and Other [Member] | ||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 3,326 | 3,390 |
Accumulated amortization | 1,457 | 1,442 |
Net carrying value | 1,869 | 1,948 |
Trademarks, Trade Names and Other [Member] | Railroad, Utilities and Energy [Member] | ||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 1,015 | 1,015 |
Accumulated amortization | 157 | 146 |
Net carrying value | 858 | 869 |
Patents and technology [Member] | Insurance and Other [Member] | ||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 4,818 | 4,763 |
Accumulated amortization | 3,547 | 3,484 |
Net carrying value | $ 1,271 | $ 1,279 |
Goodwill and other intangible_6
Goodwill and other intangible assets - Intangible assets - Narrative (Detail) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |||
Intangible asset amortization expense | $ 303 | $ 319 | |
Intangible assets with indefinite lives, excluding goodwill | $ 18,500 | $ 18,500 |
Unpaid losses and loss adjust_3
Unpaid losses and loss adjustment expenses - Reconciliation of changes in claim liabilities (Detail) - Property and Casualty Insurance and Reinsurance, Excluding Retroactive Reinsurance [Member] - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Liability for Claims and Claims Adjustment Expense [Line Items] | ||
Gross liabilities at beginning of year | $ 86,664 | $ 79,854 |
Reinsurance recoverable on unpaid losses at beginning of year | (2,960) | (2,912) |
Net liabilities at beginning of year | 83,704 | 76,942 |
Incurred losses and loss adjustment expenses, current accident year | 13,375 | 11,363 |
Incurred losses and loss adjustment expenses, prior accident years | (251) | (646) |
Total incurred losses and loss adjustment expenses | 13,124 | 10,717 |
Paid losses and loss adjustment expenses, current accident year | (3,908) | (3,214) |
Paid losses and loss adjustment expenses, prior accident years | (8,091) | (6,454) |
Total paid losses and loss adjustment expenses | (11,999) | (9,668) |
Foreign currency effect | (106) | (94) |
Net liabilities at end of period | 84,723 | 77,897 |
Reinsurance recoverable on unpaid losses at end of period | 2,944 | 3,064 |
Gross liabilities at end of period | $ 87,667 | $ 80,961 |
Unpaid losses and loss adjust_4
Unpaid losses and loss adjustment expenses - Narrative (Detail) - Property and Casualty Insurance and Reinsurance, Excluding Retroactive Reinsurance [Member] - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Liability for Claims and Claims Adjustment Expense [Line Items] | ||
Incurred losses and loss adjustment expenses, prior accident years | $ (251) | $ (646) |
Prior years' losses incurred as a percentage of net liabilities | 0.30% | 0.80% |
Primary Insurance [Member] | ||
Liability for Claims and Claims Adjustment Expense [Line Items] | ||
Incurred losses and loss adjustment expenses, prior accident years | $ (114) | $ (699) |
Property and Casualty Reinsurance [Member] | ||
Liability for Claims and Claims Adjustment Expense [Line Items] | ||
Incurred losses and loss adjustment expenses, prior accident years | $ (137) | $ 53 |
Retroactive reinsurance contr_3
Retroactive reinsurance contracts - Reconciliation of changes in claim liabilities and deferred charges (Detail) - Retroactive Reinsurance [Member] - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Liability for Claims and Claims Adjustment Expense [Line Items] | ||
Incurred losses and loss adjustment expenses, prior years' contracts | $ 208 | $ 247 |
Total incurred losses and loss adjustment expenses | 208 | 247 |
Unpaid Losses and Loss Adjustment Expenses [Member] | ||
Liability for Claims and Claims Adjustment Expense [Line Items] | ||
Unpaid losses and loss adjustment expenses, beginning of year | 38,256 | 40,966 |
Incurred losses and loss adjustment expenses, prior years' contracts | (7) | (5) |
Total incurred losses and loss adjustment expenses | (7) | (5) |
Paid losses and loss adjustment expenses | (547) | (276) |
Unpaid losses and loss adjustment expenses, end of year | 37,702 | 40,685 |
Deferred Charges Reinsurance Assumed [Member] | ||
Liability for Claims and Claims Adjustment Expense [Line Items] | ||
Deferred charges reinsurance assumed, beginning of year | (10,639) | (12,441) |
Incurred losses and loss adjustment expenses, prior years' contracts | 215 | 252 |
Total incurred losses and loss adjustment expenses | 215 | 252 |
Deferred charges reinsurance assumed, end of year | $ (10,424) | $ (12,189) |
Retroactive reinsurance contr_4
Retroactive reinsurance contracts - Narrative (Detail) - Retroactive Reinsurance [Member] - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021 | |
Effects Of Reinsurance [Line Items] | |||
Incurred losses and loss adjustment expenses, prior accident years | $ 208 | $ 247 | |
NICO [Member] | AIG [Member] | |||
Effects Of Reinsurance [Line Items] | |||
Unpaid losses and loss adjustment expenses under retroactive reinsurance contracts | 15,400 | $ 15,800 | |
Deferred charges - retroactive reinsurance | $ 4,340 | $ 4,450 |
Notes payable and other borro_3
Notes payable and other borrowings (Detail) € in Millions, £ in Millions, $ in Millions, ¥ in Billions | 3 Months Ended | ||||
Mar. 31, 2022USD ($) | Mar. 31, 2022JPY (¥) | Mar. 31, 2022EUR (€) | Mar. 31, 2022GBP (£) | Dec. 31, 2021USD ($) | |
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | ¥ 914 | € 8,150 | £ 1,750 | ||
Insurance and Other [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | $ 44,890 | $ 39,272 | |||
Insurance and Other [Member] | Berkshire Hathaway Inc. (Parent) [Member] | U.S. Dollar Denominated [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | $ 6,222 | 6,820 | |||
Weighted average interest rate, percentage | 3.30% | 3.30% | 3.30% | 3.30% | |
Insurance and Other [Member] | Berkshire Hathaway Inc. (Parent) [Member] | U.S. Dollar Denominated [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2023 | ||||
Insurance and Other [Member] | Berkshire Hathaway Inc. (Parent) [Member] | U.S. Dollar Denominated [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2047 | ||||
Insurance and Other [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Euro Denominated [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | $ 7,586 | 7,792 | |||
Weighted average interest rate, percentage | 1.00% | 1.00% | 1.00% | 1.00% | |
Insurance and Other [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Euro Denominated [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2023 | ||||
Insurance and Other [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Euro Denominated [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2041 | ||||
Insurance and Other [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Japanese Yen Denominated [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | $ 7,479 | 6,797 | |||
Weighted average interest rate, percentage | 0.60% | 0.60% | 0.60% | 0.60% | |
Insurance and Other [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Japanese Yen Denominated [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2023 | ||||
Insurance and Other [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Japanese Yen Denominated [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2060 | ||||
Insurance and Other [Member] | Subsidiaries [Member] | |||||
Debt Instrument [Line Items] | |||||
Other borrowings | $ 4,426 | 4,438 | |||
Short-term debt | $ 306 | 342 | |||
Weighted average interest rate, percentage | 4.10% | 4.10% | 4.10% | 4.10% | |
Short-term borrowings, weighted average interest rate | 3.20% | 3.20% | 3.20% | 3.20% | |
Insurance and Other [Member] | Subsidiaries [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2022 | ||||
Insurance and Other [Member] | Subsidiaries [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2045 | ||||
Insurance and Other [Member] | Subsidiaries [Member] | U.S. Dollar Denominated [Member] | Berkshire Hathaway Finance Corporation [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | $ 15,235 | 10,758 | |||
Weighted average interest rate, percentage | 3.60% | 3.60% | 3.60% | 3.60% | |
Insurance and Other [Member] | Subsidiaries [Member] | U.S. Dollar Denominated [Member] | Berkshire Hathaway Finance Corporation [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2022 | ||||
Insurance and Other [Member] | Subsidiaries [Member] | U.S. Dollar Denominated [Member] | Berkshire Hathaway Finance Corporation [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2052 | ||||
Insurance and Other [Member] | Subsidiaries [Member] | Euro Denominated [Member] | Berkshire Hathaway Finance Corporation [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | $ 1,378 | ||||
Weighted average interest rate, percentage | 1.80% | 1.80% | 1.80% | 1.80% | |
Insurance and Other [Member] | Subsidiaries [Member] | Euro Denominated [Member] | Berkshire Hathaway Finance Corporation [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2030 | ||||
Insurance and Other [Member] | Subsidiaries [Member] | Euro Denominated [Member] | Berkshire Hathaway Finance Corporation [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2034 | ||||
Insurance and Other [Member] | Subsidiaries [Member] | Great Britain Pound Denominated [Member] | Berkshire Hathaway Finance Corporation [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | $ 2,258 | 2,325 | |||
Weighted average interest rate, percentage | 2.50% | 2.50% | 2.50% | 2.50% | |
Insurance and Other [Member] | Subsidiaries [Member] | Great Britain Pound Denominated [Member] | Berkshire Hathaway Finance Corporation [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2039 | ||||
Insurance and Other [Member] | Subsidiaries [Member] | Great Britain Pound Denominated [Member] | Berkshire Hathaway Finance Corporation [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2059 | ||||
Railroad, Utilities and Energy [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | $ 74,771 | 74,990 | |||
Railroad, Utilities and Energy [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy [Member] | |||||
Debt Instrument [Line Items] | |||||
Weighted average interest rate, percentage | 4.30% | 4.30% | 4.30% | 4.30% | |
Senior unsecured debt | $ 13,003 | 13,003 | |||
Railroad, Utilities and Energy [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2023 | ||||
Railroad, Utilities and Energy [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2051 | ||||
Railroad, Utilities and Energy [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy Subsidiaries [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | $ 36,901 | 36,759 | |||
Weighted average interest rate, percentage | 4.10% | 4.10% | 4.10% | 4.10% | |
Railroad, Utilities and Energy [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy Subsidiaries [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2022 | ||||
Railroad, Utilities and Energy [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy Subsidiaries [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2064 | ||||
Railroad, Utilities and Energy [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy and Subsidiaries [Member] | |||||
Debt Instrument [Line Items] | |||||
Short-term debt | $ 1,849 | 2,009 | |||
Short-term borrowings, weighted average interest rate | 1.60% | 1.60% | 1.60% | 1.60% | |
Railroad, Utilities and Energy [Member] | Subsidiaries [Member] | Burlington Northern Santa Fe ("BNSF") and subsidiaries [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | $ 23,018 | $ 23,219 | |||
Weighted average interest rate, percentage | 4.50% | 4.50% | 4.50% | 4.50% | |
Railroad, Utilities and Energy [Member] | Subsidiaries [Member] | Burlington Northern Santa Fe ("BNSF") and subsidiaries [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2022 | ||||
Railroad, Utilities and Energy [Member] | Subsidiaries [Member] | Burlington Northern Santa Fe ("BNSF") and subsidiaries [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2097 |
Notes payable and other borro_4
Notes payable and other borrowings - Narrative (Detail) € in Millions, £ in Millions, $ in Millions, ¥ in Billions | 1 Months Ended | 3 Months Ended | |||||||||
Apr. 30, 2022USD ($) | Apr. 30, 2022GBP (£) | Jan. 31, 2022USD ($) | Jan. 31, 2022JPY (¥) | Mar. 31, 2022USD ($) | Mar. 31, 2022EUR (€) | Mar. 31, 2021USD ($) | Mar. 31, 2022JPY (¥) | Mar. 31, 2022EUR (€) | Mar. 31, 2022GBP (£) | Dec. 31, 2021USD ($) | |
Debt Instrument [Line Items] | |||||||||||
Notes payable and other borrowings | ¥ 914 | € 8,150 | £ 1,750 | ||||||||
Senior Notes [Member] | Debt Due 2027 To 2052 [Member] | Berkshire Hathaway Inc. (Parent) [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Principal amount of debt issued | $ 1,100 | ¥ 128.5 | |||||||||
Weighted average interest rate, percentage | 0.50% | 0.50% | |||||||||
Minimum [Member] | Senior Notes [Member] | Debt Due 2027 To 2052 [Member] | Berkshire Hathaway Inc. (Parent) [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt maturity year | 2027 | 2027 | |||||||||
Maximum [Member] | Senior Notes [Member] | Debt Due 2027 To 2052 [Member] | Berkshire Hathaway Inc. (Parent) [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt maturity year | 2052 | 2052 | |||||||||
Insurance and Other [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Notes payable and other borrowings | $ 44,890 | $ 39,272 | |||||||||
Insurance and Other [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Subsidiaries Excluding Berkshire Hathaway Finance Corporation [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Guarantee obligation | $ 3,800 | ||||||||||
Insurance and Other [Member] | Subsidiaries [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Weighted average interest rate, percentage | 4.10% | 4.10% | 4.10% | 4.10% | |||||||
Insurance and Other [Member] | Senior Notes [Member] | Berkshire Hathaway Inc. (Parent) [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Repayments of borrowings | $ 600 | ||||||||||
Gains (loss) attributable to changes in foreign currency exchange rates | $ 716 | $ 720 | |||||||||
Insurance and Other [Member] | Senior Notes [Member] | Debt Due 2027 To 2052 [Member] | Subsidiaries [Member] | Berkshire Hathaway Finance Corporation [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Principal amount of debt issued | $ 4,500 | ||||||||||
Weighted average interest rate, percentage | 3.40% | 3.40% | 3.40% | 3.40% | |||||||
Insurance and Other [Member] | Senior Notes [Member] | Debt Due 2030 To 2034 [Member] | Subsidiaries [Member] | Berkshire Hathaway Finance Corporation [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Principal amount of debt issued | $ 1,400 | € 1,250 | |||||||||
Weighted average interest rate, percentage | 1.80% | 1.80% | 1.80% | 1.80% | |||||||
Insurance and Other [Member] | Minimum [Member] | Subsidiaries [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt maturity year | 2022 | 2022 | |||||||||
Insurance and Other [Member] | Minimum [Member] | Senior Notes [Member] | Debt Due 2027 To 2052 [Member] | Subsidiaries [Member] | Berkshire Hathaway Finance Corporation [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt maturity year | 2027 | 2027 | |||||||||
Insurance and Other [Member] | Minimum [Member] | Senior Notes [Member] | Debt Due 2030 To 2034 [Member] | Subsidiaries [Member] | Berkshire Hathaway Finance Corporation [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt maturity year | 2030 | 2030 | |||||||||
Insurance and Other [Member] | Maximum [Member] | Subsidiaries [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt maturity year | 2045 | 2045 | |||||||||
Insurance and Other [Member] | Maximum [Member] | Senior Notes [Member] | Debt Due 2027 To 2052 [Member] | Subsidiaries [Member] | Berkshire Hathaway Finance Corporation [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt maturity year | 2052 | 2052 | |||||||||
Insurance and Other [Member] | Maximum [Member] | Senior Notes [Member] | Debt Due 2030 To 2034 [Member] | Subsidiaries [Member] | Berkshire Hathaway Finance Corporation [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt maturity year | 2034 | 2034 | |||||||||
Railroad, Utilities and Energy [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Notes payable and other borrowings | $ 74,771 | $ 74,990 | |||||||||
Railroad, Utilities and Energy [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Weighted average interest rate, percentage | 4.30% | 4.30% | 4.30% | 4.30% | |||||||
Railroad, Utilities and Energy [Member] | 4.6% Senior Notes Due [Member] | Berkshire Hathaway Energy [Member] | Subsequent Event [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Principal amount of debt issued | $ 1,000 | ||||||||||
Debt maturity year | 2053 | 2053 | |||||||||
Debt instrument, interest rate, stated percentage | 4.60% | 4.60% | |||||||||
Railroad, Utilities and Energy [Member] | 3.25% Senior Notes Due [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy [Member] | Subsequent Event [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Principal amount of debt issued | £ | £ 350 | ||||||||||
Debt maturity year | 2052 | 2052 | |||||||||
Debt instrument, interest rate, stated percentage | 3.25% | 3.25% | |||||||||
Railroad, Utilities and Energy [Member] | Minimum [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt maturity year | 2023 | 2023 | |||||||||
Railroad, Utilities and Energy [Member] | Maximum [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt maturity year | 2051 | 2051 |
Notes payable and other borro_5
Notes payable and other borrowings - Credit agreements - Narrative (Detail) - Line of Credit and Commercial Paper Facilities [Member] - Subsidiaries [Member] $ in Billions | Mar. 31, 2022USD ($) |
Line of Credit Facility [Line Items] | |
Unused lines of credit available | $ 10.4 |
Berkshire Hathaway Energy and Subsidiaries [Member] | |
Line of Credit Facility [Line Items] | |
Unused lines of credit available | $ 8.8 |
Fair value measurements - Finan
Fair value measurements - Financial assets and liabilities (Detail) - USD ($) $ in Millions | Mar. 31, 2022 | Dec. 31, 2021 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | $ 21,718 | $ 16,434 | |||
Investments in equity securities | 390,538 | [1] | 350,719 | [2] | |
Derivative contract liabilities | 121 | ||||
Insurance and Other [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 21,718 | 16,434 | |||
Investments in equity securities | 390,538 | 350,719 | |||
The Kraft Heinz Company [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Equity method investments, fair value | 12,800 | 11,700 | |||
U.S. Treasury, U.S. government corporations and agencies [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 8,708 | 3,303 | |||
Foreign governments [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 11,080 | 10,994 | |||
Corporate bonds [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 1,590 | 1,774 | |||
Other [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 340 | 363 | |||
Fair Value, Measurements, Recurring [Member] | Quoted Prices (Level 1) [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in equity securities | 378,190 | 339,225 | |||
Fair Value, Measurements, Recurring [Member] | Quoted Prices (Level 1) [Member] | The Kraft Heinz Company [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Equity method investments, fair value | 12,819 | 11,683 | |||
Fair Value, Measurements, Recurring [Member] | Quoted Prices (Level 1) [Member] | U.S. Treasury, U.S. government corporations and agencies [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 8,669 | 3,261 | |||
Fair Value, Measurements, Recurring [Member] | Quoted Prices (Level 1) [Member] | Foreign governments [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 10,543 | 10,286 | |||
Fair Value, Measurements, Recurring [Member] | Quoted Prices (Level 1) [Member] | Other Assets [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative contract assets | [3] | 24 | 6 | ||
Fair Value, Measurements, Recurring [Member] | Quoted Prices (Level 1) [Member] | Other Liabilities [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative contract liabilities | [3] | 1 | 2 | ||
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in equity securities | 7 | 8 | |||
Loans and finance receivables | 2,135 | 2,178 | |||
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 | 45,101 | 42,292 | |||
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Railroad, Utilities and Energy [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Notes payable and other borrowings | 79,234 | 87,065 | |||
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | U.S. Treasury, U.S. government corporations and agencies [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 39 | 42 | |||
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Foreign governments [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 537 | 708 | |||
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Corporate bonds [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 1,590 | 1,774 | |||
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Other [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 340 | 363 | |||
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Other Assets [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative contract assets | [3] | 528 | 230 | ||
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Other Liabilities [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative contract liabilities | [3] | 143 | 150 | ||
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in equity securities | 12,341 | 11,486 | |||
Loans and finance receivables | 20,449 | 19,996 | |||
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Insurance and Other [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Notes payable and other borrowings | 44 | 47 | |||
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Other Assets [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative contract assets | [3] | 84 | 93 | ||
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Other Liabilities [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative contract liabilities | [3] | 310 | 224 | ||
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 | 390,538 | 350,719 | |||
Loans and finance receivables | 21,265 | 20,751 | |||
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 | 44,890 | 39,272 | |||
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | Railroad, Utilities and Energy [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Notes payable and other borrowings | 74,771 | 74,990 | |||
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | The Kraft Heinz Company [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Equity method investments, fair value | 13,191 | 13,112 | |||
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | U.S. Treasury, U.S. government corporations and agencies [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 8,708 | 3,303 | |||
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | Foreign governments [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 11,080 | 10,994 | |||
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | Corporate bonds [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 1,590 | 1,774 | |||
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | Other [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 340 | 363 | |||
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 | [3] | 636 | 329 | ||
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | Other Liabilities [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative contract liabilities | [3] | 454 | 376 | ||
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 | 390,538 | 350,719 | |||
Loans and finance receivables | 22,584 | 22,174 | |||
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 | 45,145 | 42,339 | |||
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | Railroad, Utilities and Energy [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Notes payable and other borrowings | 79,234 | 87,065 | |||
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | The Kraft Heinz Company [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Equity method investments, fair value | 12,819 | 11,683 | |||
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | U.S. Treasury, U.S. government corporations and agencies [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 8,708 | 3,303 | |||
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | Foreign governments [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 11,080 | 10,994 | |||
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | Corporate bonds [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 1,590 | 1,774 | |||
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | Other [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments in fixed maturity securities | 340 | 363 | |||
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 | [3] | 636 | 329 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | Other Liabilities [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative contract liabilities | [3] | $ 454 | $ 376 | ||
[1] | Approximately 66% of the aggregate fair value was concentrated in four companies (American Express Company – $28.4 billion; Apple Inc. – $159.1 billion; Bank of America Corporation – $42.6 billion and Chevron Corporation – $25.9 billion). | ||||
[2] | Approximately 73% of the aggregate fair value was concentrated in four companies (American Express Company – $24.8 billion; Apple Inc. – $161.2 billion; Bank of America Corporation – $46.0 billion and The Coca-Cola Company – $23.7 billion). | ||||
[3] | Assets are included in other assets and liabilities are included in accounts payable, accruals and other liabilities. |
Fair value measurements - Signi
Fair value measurements - Significant unobservable inputs (Detail) - Significant Unobservable Inputs (Level 3) [Member] - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Equity Index Put Option Contract Liabilities [Member] | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Derivative contract liabilities - Beginning Balance | $ (1,065) | |
Derivative contract liabilities - Gains included in earnings | 489 | |
Derivative contract liabilities - Acquisitions, dispositions and settlements | (1) | |
Derivative contract liabilities - Ending Balance | (577) | |
Equity Securities [Member] | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Beginning Balance | $ 11,480 | 8,978 |
Gains included in earnings | 855 | 823 |
Acquisitions, dispositions and settlements | 600 | |
Ending Balance | $ 12,335 | $ 10,401 |
Fair value measurements - Other
Fair value measurements - Other information (Detail) $ in Millions | 3 Months Ended | |||
Mar. 31, 2022USD ($) | Dec. 31, 2021USD ($) | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Investments in equity securities | $ 390,538 | [1] | $ 350,719 | [2] |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [Member] | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Investments in equity securities | 12,341 | $ 11,486 | ||
Significant Unobservable Inputs (Level 3) [Member] | Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member] | Discounted Cash Flow [Member] | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Investments in equity securities | 10,497 | |||
Significant Unobservable Inputs (Level 3) [Member] | Common Stock Warrants [Member] | Fair Value, Measurements, Recurring [Member] | Warrant Pricing Model [Member] | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Investments in equity securities | $ 1,838 | |||
Significant Unobservable Inputs (Level 3) [Member] | Measurement Input, Expected Term | Weighted Average [Member] | Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member] | Discounted Cash Flow [Member] | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Unobservable inputs, term | 7 years | |||
Significant Unobservable Inputs (Level 3) [Member] | Measurement Input, Expected Term | Weighted Average [Member] | Common Stock Warrants [Member] | Fair Value, Measurements, Recurring [Member] | Warrant Pricing Model [Member] | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Unobservable inputs, term | 7 years | |||
Significant Unobservable Inputs (Level 3) [Member] | Discount for Transferability Restrictions and Subordination [Member] | Weighted Average [Member] | Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member] | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Unobservable inputs | 0.0372 | |||
Significant Unobservable Inputs (Level 3) [Member] | Measurement Input, Option Volatility | Weighted Average [Member] | Common Stock Warrants [Member] | Fair Value, Measurements, Recurring [Member] | Warrant Pricing Model [Member] | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Unobservable inputs | 0.38 | |||
[1] | Approximately 66% of the aggregate fair value was concentrated in four companies (American Express Company – $28.4 billion; Apple Inc. – $159.1 billion; Bank of America Corporation – $42.6 billion and Chevron Corporation – $25.9 billion). | |||
[2] | Approximately 73% of the aggregate fair value was concentrated in four companies (American Express Company – $24.8 billion; Apple Inc. – $161.2 billion; Bank of America Corporation – $46.0 billion and The Coca-Cola Company – $23.7 billion). |
Common stock - Narrative (Detai
Common stock - Narrative (Detail) | 3 Months Ended | |
Mar. 31, 2022USD ($)Voteshares | Dec. 31, 2021shares | |
Class of Stock [Line Items] | ||
Preferred Stock, shares authorized | 1,000,000 | |
Preferred Stock, shares issued | 0 | |
Economic equivalent of Class B share to Class A share | 0.0667% | |
Common Stock Repurchase Program [Member] | ||
Class of Stock [Line Items] | ||
Shares repurchase, authorization description | Berkshire’s common stock repurchase program permits Berkshire to repurchase its Class A and Class B shares any time that Warren Buffett, Berkshire’s Chairman of the Board and Chief Executive Officer, and Charlie Munger, Vice Chairman of the Board, believe that the repurchase price is below Berkshire’s intrinsic value, conservatively determined. | |
Minimum cash, cash equivalents and U.S. Treasury Bills threshold after repurchase of common stock shares, amount | $ | $ 30,000,000,000 | |
Class A [Member] | ||
Class of Stock [Line Items] | ||
Number of votes entitled per share, number | Vote | 1 | |
Shares outstanding | 613,960 | 617,113 |
Class B [Member] | ||
Class of Stock [Line Items] | ||
Number of votes entitled per share, number | Vote | 0.0001 | |
Number of shares of Class B stock obtainable from converting one Class A share | 1,500 | |
Shares outstanding | 1,285,371,832 | 1,290,474,503 |
Equivalent Class A [Member] | ||
Class of Stock [Line Items] | ||
Shares outstanding | 1,470,875 | 1,477,429 |
Common stock (Detail)
Common stock (Detail) | 3 Months Ended |
Mar. 31, 2022shares | |
Class A [Member] | |
Class of Stock [Line Items] | |
Shares issued, beginning balance | 665,901 |
Treasury shares, beginning balance | (48,788) |
Shares outstanding, beginning balance | 617,113 |
Conversions of Class A common stock to Class B common stock | (1,148) |
Conversions of Class A to Class B common stock, Outstanding | (1,148) |
Treasury stock acquired | (2,005) |
Shares issued, ending balance | 664,753 |
Treasury shares, ending balance | (50,793) |
Shares outstanding, ending balance | 613,960 |
Class B [Member] | |
Class of Stock [Line Items] | |
Shares issued, beginning balance | 1,488,292,852 |
Treasury shares, beginning balance | (197,818,349) |
Shares outstanding, beginning balance | 1,290,474,503 |
Conversions of Class A common stock to Class B common stock | 1,722,000 |
Conversions of Class A to Class B common stock, Outstanding | 1,722,000 |
Treasury stock acquired | (6,824,671) |
Shares issued, ending balance | 1,490,014,852 |
Treasury shares, ending balance | (204,643,020) |
Shares outstanding, ending balance | 1,285,371,832 |
Common stock (Parenthetical) (D
Common stock (Parenthetical) (Detail) | Mar. 31, 2022$ / 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 |
Income taxes - Narrative (Detai
Income taxes - Narrative (Detail) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Income Tax Disclosure [Abstract] | ||
Effective income tax rate | 18.00% | 18.50% |
Accumulated other comprehensi_3
Accumulated other comprehensive income (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | $ 506,199 | |
Other comprehensive income, net | (401) | $ (327) |
Ending Balance | 508,141 | |
Unrealized appreciation of fixed maturity securities, net [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | 369 | 536 |
Other comprehensive income, net | (186) | (67) |
Ending Balance | 183 | 469 |
Foreign currency translation [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | (4,092) | (3,082) |
Other comprehensive income, net | (315) | (297) |
Ending Balance | (4,407) | (3,379) |
Defined benefit pension plans [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | (347) | (1,645) |
Other comprehensive income, net | 20 | 40 |
Ending Balance | (327) | (1,605) |
Other AOCI transactions [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | 43 | (52) |
Other comprehensive income, net | 80 | (3) |
Ending Balance | 123 | (55) |
Accumulated other comprehensive income [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | (4,027) | (4,243) |
Ending Balance | $ (4,428) | $ (4,570) |
Supplemental cash flow inform_3
Supplemental cash flow information (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Supplemental Cash Flow Information [Line Items] | ||
Cash paid during the period for income taxes | $ 336 | $ 256 |
Insurance and Other [Member] | ||
Supplemental Cash Flow Information [Line Items] | ||
Cash paid during the period for interest | 365 | 400 |
Railroad, Utilities and Energy [Member] | ||
Supplemental Cash Flow Information [Line Items] | ||
Cash paid during the period for interest | $ 708 | $ 740 |
Contingencies and Commitments -
Contingencies and Commitments - Narrative (Detail) - Alleghany Corporation [Member] $ in Billions | Mar. 21, 2022USD ($) |
Business Acquisition [Line Items] | |
Acquisition of outstanding shares, value | $ 11.6 |
Business acquisition, agreement date | Mar. 21, 2022 |
Revenue from contracts with cus
Revenue from contracts with customers disaggregated by reportable segment and source of revenue (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | $ 49,426 | $ 44,623 |
Other revenues | 21,384 | 19,976 |
Total revenues | 70,810 | 64,599 |
Industrial and Commercial Products [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 5,981 | 5,413 |
Building Products [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 5,419 | 4,399 |
Consumer Products [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 5,093 | 4,163 |
Grocery and Convenience Store Distribution [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 7,706 | 7,442 |
Food and Beverage Distribution [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 4,562 | 4,004 |
Auto Sales [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 2,527 | 2,312 |
Other Retail and Wholesale Distribution [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 4,897 | 4,359 |
Service [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 8,527 | 7,819 |
Electricity and Natural Gas [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 4,714 | 4,712 |
Manufacturing Businesses [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 17,430 | 14,957 |
Other revenues | 955 | 923 |
Total revenues | 18,385 | 15,880 |
Manufacturing Businesses [Member] | Industrial and Commercial Products [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 5,932 | 5,363 |
Manufacturing Businesses [Member] | Building Products [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 5,419 | 4,399 |
Manufacturing Businesses [Member] | Consumer Products [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 5,093 | 4,163 |
Manufacturing Businesses [Member] | Other Retail and Wholesale Distribution [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 722 | 703 |
Manufacturing Businesses [Member] | Service [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 264 | 329 |
McLane [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 12,482 | 11,597 |
Other revenues | 32 | 25 |
Total revenues | 12,514 | 11,622 |
McLane [Member] | Grocery and Convenience Store Distribution [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 7,706 | 7,442 |
McLane [Member] | Food and Beverage Distribution [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 4,562 | 4,004 |
McLane [Member] | Service [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 214 | 151 |
Service and Retailing [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 7,757 | 6,952 |
Other revenues | 1,334 | 991 |
Total revenues | 9,091 | 7,943 |
Service and Retailing [Member] | Industrial and Commercial Products [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 49 | 50 |
Service and Retailing [Member] | Auto Sales [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 2,527 | 2,312 |
Service and Retailing [Member] | Other Retail and Wholesale Distribution [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 4,175 | 3,656 |
Service and Retailing [Member] | Service [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 1,006 | 934 |
BNSF [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 5,931 | 5,365 |
Other revenues | 13 | 13 |
Total revenues | 5,944 | 5,378 |
BNSF [Member] | Service [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 5,931 | 5,365 |
Berkshire Hathaway Energy [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 5,826 | 5,752 |
Other revenues | 152 | 172 |
Total revenues | 5,978 | 5,924 |
Berkshire Hathaway Energy [Member] | Service [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 1,112 | 1,040 |
Berkshire Hathaway Energy [Member] | Electricity and Natural Gas [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenue from contracts with customers | 4,714 | 4,712 |
Insurance, Corporate and Other [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Other revenues | 18,898 | 17,852 |
Total revenues | $ 18,898 | $ 17,852 |
Revenue from contracts with c_2
Revenue from contracts with customers transaction price allocated to significant unsatisfied remaining performance obligations and timing of when performance obligations expected to be satisfied (Detail) $ in Millions | Mar. 31, 2022USD ($) |
Electricity and Natural Gas [Member] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Transaction price allocated to remaining performance obligations | $ 24,981 |
Electricity and Natural Gas [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Transaction price allocated to remaining performance obligations | $ 2,878 |
Performance obligations expected to be satisfied, period | 1 year |
Electricity and Natural Gas [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Transaction price allocated to remaining performance obligations | $ 22,103 |
Performance obligations expected to be satisfied, period | |
Other Sales and Service Contracts [Member] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Transaction price allocated to remaining performance obligations | $ 3,917 |
Other Sales and Service Contracts [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Transaction price allocated to remaining performance obligations | $ 1,494 |
Performance obligations expected to be satisfied, period | 1 year |
Other Sales and Service Contracts [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Transaction price allocated to remaining performance obligations | $ 2,423 |
Performance obligations expected to be satisfied, period |
Revenue from contracts with c_3
Revenue from contracts with customers transaction price allocated to significant unsatisfied remaining performance obligations and timing of when performance obligations expected to be satisfied (Detail 1) $ in Millions | Mar. 31, 2022USD ($) |
Electricity and Natural Gas [Member] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Transaction price allocated to remaining performance obligations | $ 24,981 |
Other Sales and Service Contracts [Member] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Transaction price allocated to remaining performance obligations | $ 3,917 |
Business segment data - Revenue
Business segment data - Revenues (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Segment Reporting Information [Line Items] | ||
Total revenues | $ 70,810 | $ 64,599 |
BNSF [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenues | 5,944 | 5,378 |
Berkshire Hathaway Energy [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenues | 5,978 | 5,924 |
Manufacturing Businesses [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenues | 18,385 | 15,880 |
McLane [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenues | 12,514 | 11,622 |
Service and Retailing [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenues | 9,091 | 7,943 |
Operating Businesses [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenues | 70,858 | 64,656 |
Operating Businesses [Member] | Insurance Group [Member] | ||
Segment Reporting Information [Line Items] | ||
Interest, dividend and other investment income | 1,364 | 1,414 |
Total revenues | 18,856 | 17,838 |
Operating Businesses [Member] | Insurance Group [Member] | GEICO [Member] | ||
Segment Reporting Information [Line Items] | ||
Premiums earned | 9,554 | 8,923 |
Operating Businesses [Member] | Insurance Group [Member] | Berkshire Hathaway Reinsurance Group [Member] | ||
Segment Reporting Information [Line Items] | ||
Premiums earned | 4,820 | 4,847 |
Operating Businesses [Member] | Insurance Group [Member] | Berkshire Hathaway Primary Group [Member] | ||
Segment Reporting Information [Line Items] | ||
Premiums earned | 3,118 | 2,654 |
Operating Businesses [Member] | BNSF [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenues | 5,968 | 5,401 |
Operating Businesses [Member] | Berkshire Hathaway Energy [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenues | 5,983 | 5,924 |
Operating Businesses [Member] | Manufacturing Businesses [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenues | 18,421 | 15,913 |
Operating Businesses [Member] | McLane [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenues | 12,515 | 11,622 |
Operating Businesses [Member] | Service and Retailing [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenues | 9,115 | 7,958 |
Corporate, Eliminations and Other [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenues | $ (48) | $ (57) |
Business segment data - Earning
Business segment data - Earnings (loss) before income taxes (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Segment Reporting Information [Line Items] | ||
Investment and derivative contract gains (losses) | $ (1,978) | $ 5,700 |
Equity method investments | 376 | 251 |
Earnings (loss) before income taxes | 6,812 | 14,528 |
Operating Businesses [Member] | ||
Segment Reporting Information [Line Items] | ||
Earnings (loss) before income taxes from operating businesses | 7,957 | 8,197 |
Operating Businesses [Member] | Insurance Group [Member] | ||
Segment Reporting Information [Line Items] | ||
Earnings (loss) before income taxes from operating businesses | 1,431 | 2,378 |
Operating Businesses [Member] | Insurance Group [Member] | Interest, Dividend and Other Investment Income [Member] | ||
Segment Reporting Information [Line Items] | ||
Earnings (loss) before income taxes from operating businesses | 1,361 | 1,412 |
Operating Businesses [Member] | Insurance Group [Member] | GEICO [Member] | Insurance Premiums Earned [Member] | ||
Segment Reporting Information [Line Items] | ||
Earnings (loss) before income taxes from operating businesses | (178) | 1,023 |
Operating Businesses [Member] | Insurance Group [Member] | Berkshire Hathaway Reinsurance Group [Member] | Insurance Premiums Earned [Member] | ||
Segment Reporting Information [Line Items] | ||
Earnings (loss) before income taxes from operating businesses | 156 | (263) |
Operating Businesses [Member] | Insurance Group [Member] | Berkshire Hathaway Primary Group [Member] | Insurance Premiums Earned [Member] | ||
Segment Reporting Information [Line Items] | ||
Earnings (loss) before income taxes from operating businesses | 92 | 206 |
Operating Businesses [Member] | BNSF [Member] | ||
Segment Reporting Information [Line Items] | ||
Earnings (loss) before income taxes from operating businesses | 1,809 | 1,659 |
Operating Businesses [Member] | Berkshire Hathaway Energy [Member] | ||
Segment Reporting Information [Line Items] | ||
Earnings (loss) before income taxes from operating businesses | 676 | 683 |
Operating Businesses [Member] | Manufacturing Businesses [Member] | ||
Segment Reporting Information [Line Items] | ||
Earnings (loss) before income taxes from operating businesses | 2,824 | 2,436 |
Operating Businesses [Member] | McLane [Member] | ||
Segment Reporting Information [Line Items] | ||
Earnings (loss) before income taxes from operating businesses | 82 | 103 |
Operating Businesses [Member] | Service and Retailing [Member] | ||
Segment Reporting Information [Line Items] | ||
Earnings (loss) before income taxes from operating businesses | 1,135 | 938 |
Segment Reconciling Items [Member] | ||
Segment Reporting Information [Line Items] | ||
Investment and derivative contract gains (losses) | (1,978) | 5,700 |
Interest expense, not allocated to segments | (104) | (114) |
Equity method investments | 376 | 251 |
Corporate, Eliminations and Other [Member] | ||
Segment Reporting Information [Line Items] | ||
Earnings (loss) before income taxes from operating businesses | $ 561 | $ 494 |