EX-12 3 v32769a2exv12.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, 2007     2006     2005     2004     2003     2002  
Net earnings
$ 5,713     $ 11,015     $ 8,528     $ 7,308     $ 8,151     $ 4,286  
Income tax expense
  3,005       5,505       4,159       3,569       3,805       2,059  
Minority interests in earnings
  170       258       104       59       64       14  
Equity in earnings of MidAmerican Energy Holdings Company
              (523 )     (237 )     (429 )     (359 )
Fixed charges*
  1,074       1,979       867       875       614       840  
 
                                 
Earnings available for fixed charges
$ 9,962     $ 18,757     $ 13,135     $ 11,574     $ 12,205     $ 6,840  
 
                                 
 
                                       
Investment and derivative gains, pretax, included in Earnings available for fixed charges
$ 1,514     $ 2,635     $ 5,408     $ 3,471     $ 4,083     $ 838  
 
                                 
 
                                       
Fixed charges*
                                       
Interest on indebtedness (including amortization of debt discount and expense)
$ 932     $ 1,724     $ 723     $ 721     $ 472     $ 725  
Rentals representing interest and other
  142       255       144       154       142       115  
 
                                 
 
$ 1,074     $ 1,979     $ 867     $ 875     $ 614     $ 840  
 
                                 
 
                                       
Ratio of earnings to fixed charges*
  9.28x       9.48x       15.15x       13.23x       19.88x       8.14x  
 
                                 
Ratio of earnings, excluding investment and derivative gains, to fixed charges*
  7.87x       8.15x       8.91x       9.26x       13.23x       7.15x  
 
                                 
 
*   Includes fixed charges of finance and financial products and utilities and energy businesses as follows:
                                               
  Six Months Ended
June 30, 2007
    2006     2005     2004     2003     2002  
Finance and financial products
$ 310     $ 571     $ 598     $ 602     $ 337     $ 551  
Utilities and energy
  606       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, 2007
    2006     2005     2004     2003     2002  
Including investment and derivative gains
  57.25x       50.64x       46.61x       40.19x       42.84x       21.76x  
Excluding investment and derivative gains
  47.67x       42.84x       26.50x       27.48x       28.10x       18.86x