EX-12 24 v42230exv12.htm EXHIBIT 12 exv12
EXHIBIT 12
BERKSHIRE HATHAWAY INC.
Statement Regarding Calculation of Ratio of Consolidated Earnings to Consolidated Fixed Charges
(Dollars in millions)
                                                 
    Six Months Ended     Year Ended December 31,  
    June 30, 2008     2007     2006     2005     2004     2003  
Net earnings
   $ 3,820     $ 13,213     $ 11,015     $ 8,528     $ 7,308     $ 8,151  
Income tax expense
     1,851       6,594       5,505       4,159       3,569       3,805  
Minority interests in earnings
     253       354       258       104       59       64  
Equity in earnings of MidAmerican Energy Holdings Company
     —       —       —       (523 )     (237 )     (429 )
Fixed charges*
     1,113       2,202       1,979       867       875       614  
 
                                    
Earnings available for fixed charges
   $ 7,037     $ 22,363     $ 18,757     $ 13,135     $ 11,574     $ 12,205  
 
                                    
 
                                                
Investment and derivative gains/losses, pretax, included in Earnings available for fixed charges
   $ (591 )   $ 5,509     $ 2,635     $ 5,408     $ 3,471     $ 4,083  
 
                                    
 
                                                
Fixed charges*
                                                
Interest on indebtedness (including amortization of debt discount and expense)
   $ 969     $ 1,910     $ 1,724     $ 723     $ 721     $ 472  
Rentals representing interest and other
     144       292       255       144       154       142  
 
                                    
 
   $ 1,113     $ 2,202     $ 1,979     $ 867     $ 875     $ 614  
 
                                    
 
                                                
Ratio of earnings to fixed charges*
     6.32 x     10.16x       9.48x       15.15x       13.23x       19.88x  
 
                                    
Ratio of earnings, excluding investment and derivative gains/losses, to fixed charges*
     6.85 x     7.65x       8.15x       8.91x       9.26x       13.23x  
 
                                    
 
*   Includes fixed charges of finance and financial products and utilities and energy businesses as follows:
                                                 
    Six Months Ended                                
    June 30, 2008     2007     2006     2005     2004     2003  
Finance and financial products
   $ 316     $ 608     $ 571     $ 598     $ 602     $ 337  
Utilities and energy
     636       1,265       1,070       —       —       —  
     Excluding fixed charges of finance and financial products and utilities and energy businesses the ratios of earnings to fixed charges were as follows:
                                                 
    Six Months Ended                    
    June 30, 2008   2007   2006   2005   2004   2003
Including investment and derivative gains/losses
     37.80 x     62.28x       50.64x       46.61x       40.19x       42.84x  
Excluding investment and derivative gains/losses
     41.47 x     45.53x       42.84x       26.50x       27.48x       28.10x