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Business segment data (Tables)
12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Schedule of revenues, earnings before income taxes, interest expense, income tax expense, capital expenditures, depreciation, goodwill and identifiable assets by segment

A disaggregation of our consolidated data for each of the three most recent years is presented as follows (in millions).

 

 

 

Revenues

 

 

Earnings (loss) before income taxes

 

 

 

2022

 

 

2021

 

 

2020

 

 

2022

 

 

2021

 

 

2020

 

Operating Businesses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Insurance:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Underwriting:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GEICO

 

$

38,984

 

 

$

37,706

 

 

$

35,093

 

 

$

(1,880

)

 

$

1,259

 

 

$

3,428

 

Berkshire Hathaway Primary Group

 

 

13,746

 

 

 

11,575

 

 

 

9,615

 

 

 

393

 

 

 

607

 

 

 

110

 

Berkshire Hathaway Reinsurance Group

 

 

21,915

 

 

 

20,197

 

 

 

18,693

 

 

 

1,389

 

 

 

(930

)

 

 

(2,700

)

Insurance underwriting

 

 

74,645

 

 

 

69,478

 

 

 

63,401

 

 

 

(98

)

 

 

936

 

 

 

838

 

Investment income

 

 

7,734

 

 

 

5,662

 

 

 

5,960

 

 

 

7,724

 

 

 

5,649

 

 

 

5,949

 

Total insurance

 

 

82,379

 

 

 

75,140

 

 

 

69,361

 

 

 

7,626

 

 

 

6,585

 

 

 

6,787

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BNSF

 

 

25,888

 

 

 

23,282

 

 

 

20,869

 

 

 

7,708

 

 

 

7,861

 

 

 

6,792

 

BHE

 

 

26,393

 

 

 

25,096

 

 

 

21,100

 

 

 

3,146

 

 

 

3,293

 

 

 

2,548

 

Manufacturing

 

 

75,781

 

 

 

68,730

 

 

 

59,079

 

 

 

11,177

 

 

 

9,841

 

 

 

8,010

 

McLane

 

 

53,209

 

 

 

49,450

 

 

 

46,840

 

 

 

271

 

 

 

230

 

 

 

251

 

Service and retailing

 

 

38,303

 

 

 

34,832

 

 

 

28,178

 

 

 

4,771

 

 

 

4,481

 

 

 

2,628

 

 

 

 

301,953

 

 

 

276,530

 

 

 

245,427

 

 

 

34,699

 

 

 

32,291

 

 

 

27,016

 

Reconciliation to consolidated amount

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investment and derivative gains (losses)

 

 

 

 

 

 

 

 

 

 

 

(67,899

)

 

 

78,542

 

 

 

40,746

 

Interest expense, not allocated to segments

 

 

 

 

 

 

 

 

 

 

 

(420

)

 

 

(455

)

 

 

(483

)

Equity method investments

 

 

 

 

 

 

 

 

 

 

 

1,863

 

 

 

886

 

 

 

657

 

Goodwill and intangible asset impairments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(10,671

)

Corporate, eliminations and other

 

 

136

 

 

 

(327

)

 

 

152

 

 

 

1,181

 

 

 

422

 

 

 

(1,572

)

 

 

$

302,089

 

 

$

276,203

 

 

$

245,579

 

 

$

(30,576

)

 

$

111,686

 

 

$

55,693

 

 

 

 

 

Interest expense

 

 

Income tax expense (benefit)

 

 

 

2022

 

 

2021

 

 

2020

 

 

2022

 

 

2021

 

 

2020

 

Operating Businesses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Insurance

 

$

 

 

$

 

 

$

 

 

$

1,231

 

 

$

1,050

 

 

$

1,089

 

BNSF

 

 

1,025

 

 

 

1,032

 

 

 

1,037

 

 

 

1,763

 

 

 

1,871

 

 

 

1,631

 

BHE

 

 

2,140

 

 

 

2,054

 

 

 

1,941

 

 

 

(1,629

)

 

 

(1,153

)

 

 

(996

)

Manufacturing

 

 

739

 

 

 

704

 

 

 

737

 

 

 

2,403

 

 

 

2,193

 

 

 

1,795

 

McLane

 

 

 

 

 

 

 

 

 

 

 

66

 

 

 

61

 

 

 

71

 

Service and retailing

 

 

42

 

 

 

38

 

 

 

61

 

 

 

1,131

 

 

 

1,086

 

 

 

669

 

 

 

 

3,946

 

 

 

3,828

 

 

 

3,776

 

 

 

4,965

 

 

 

5,108

 

 

 

4,259

 

Reconciliation to consolidated amount

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investment and derivative gains (losses)

 

 

 

 

 

 

 

 

 

 

 

(14,166

)

 

 

16,025

 

 

 

8,855

 

Interest expense, not allocated to segments

 

 

420

 

 

 

455

 

 

 

483

 

 

 

(88

)

 

 

(96

)

 

 

(102

)

Equity method investments

 

 

 

 

 

 

 

 

 

 

 

334

 

 

 

82

 

 

 

43

 

Corporate, eliminations and other

 

 

(14

)

 

 

(111

)

 

 

(176

)

 

 

437

 

 

 

(240

)

 

 

(615

)

 

 

$

4,352

 

 

$

4,172

 

 

$

4,083

 

 

$

(8,518

)

 

$

20,879

 

 

$

12,440

 

 

Notes to Consolidated Financial Statements (Continued)

(25)
Business segment data (Continued)

 

 

 

Capital expenditures

 

 

Depreciation of tangible assets

 

 

 

2022

 

 

2021

 

 

2020

 

 

2022

 

 

2021

 

 

2020

 

Operating Businesses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Insurance

 

$

82

 

 

$

62

 

 

$

50

 

 

$

69

 

 

$

72

 

 

$

74

 

BNSF

 

 

3,532

 

 

 

2,910

 

 

 

3,063

 

 

 

2,479

 

 

 

2,406

 

 

 

2,423

 

BHE

 

 

7,505

 

 

 

6,611

 

 

 

6,765

 

 

 

3,702

 

 

 

3,584

 

 

 

3,376

 

Manufacturing

 

 

2,477

 

 

 

2,100

 

 

 

2,133

 

 

 

2,021

 

 

 

2,037

 

 

 

2,026

 

McLane

 

 

93

 

 

 

106

 

 

 

98

 

 

 

176

 

 

 

189

 

 

 

204

 

Service and retailing

 

 

1,775

 

 

 

1,487

 

 

 

903

 

 

 

1,219

 

 

 

1,177

 

 

 

1,216

 

 

 

$

15,464

 

 

$

13,276

 

 

$

13,012

 

 

$

9,666

 

 

$

9,465

 

 

$

9,319

 

 

 

 

 

Goodwill at year-end

 

 

Identifiable assets at year-end

 

 

 

2022

 

 

2021

 

 

2020

 

 

2022

 

 

2021

 

 

2020

 

Operating Businesses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Insurance

 

$

16,548

 

 

$

15,181

 

 

$

15,224

 

 

$

459,904

 

 

$

482,813

 

 

$

399,169

 

BNSF

 

 

14,852

 

 

 

14,852

 

 

 

14,851

 

 

 

77,752

 

 

 

76,586

 

 

 

73,809

 

BHE

 

 

11,745

 

 

 

11,906

 

 

 

11,763

 

 

 

118,114

 

 

 

113,447

 

 

 

109,880

 

Manufacturing

 

 

28,460

 

 

 

25,463

 

 

 

25,512

 

 

 

113,578

 

 

 

107,231

 

 

 

104,318

 

McLane

 

 

232

 

 

 

232

 

 

 

232

 

 

 

7,049

 

 

 

6,841

 

 

 

6,771

 

Service and retailing

 

 

6,282

 

 

 

6,241

 

 

 

6,152

 

 

 

31,291

 

 

 

28,221

 

 

 

26,173

 

 

 

$

78,119

 

 

$

73,875

 

 

$

73,734

 

 

 

807,688

 

 

 

815,139

 

 

 

720,120

 

Reconciliation to consolidated amount

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate and other

 

 

 

 

 

 

 

 

 

 

 

62,645

 

 

 

69,770

 

 

 

79,875

 

Goodwill

 

 

 

 

 

 

 

 

 

 

 

78,119

 

 

 

73,875

 

 

 

73,734

 

 

 

 

 

 

 

 

 

 

 

 

$

948,452

 

 

$

958,784

 

 

$

873,729

 

Schedule of premiums written and earned

Property/casualty and life/health insurance premiums written and earned are summarized below (in millions).

 

 

Property/Casualty

 

 

Life/Health

 

 

2022

 

 

2021

 

 

2020

 

 

2022

 

 

2021

 

 

2020

 

Premiums Written:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Direct

$

56,700

 

 

$

53,829

 

 

$

47,838

 

 

$

582

 

 

$

649

 

 

$

510

 

Assumed

 

15,143

 

 

 

12,461

 

 

 

11,533

 

 

 

5,235

 

 

 

5,685

 

 

 

5,960

 

Ceded

 

(1,155

)

 

 

(1,015

)

 

 

(898

)

 

 

(37

)

 

 

(40

)

 

 

(42

)

 

$

70,688

 

 

$

65,275

 

 

$

58,473

 

 

$

5,780

 

 

$

6,294

 

 

$

6,428

 

Premiums Earned:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Direct

$

55,879

 

 

$

52,139

 

 

$

46,418

 

 

$

582

 

 

$

649

 

 

$

510

 

Assumed

 

14,184

 

 

 

12,072

 

 

 

11,449

 

 

 

5,332

 

 

 

5,713

 

 

 

5,973

 

Ceded

 

(1,293

)

 

 

(1,054

)

 

 

(907

)

 

 

(39

)

 

 

(41

)

 

 

(42

)

 

$

68,770

 

 

$

63,157

 

 

$

56,960

 

 

$

5,875

 

 

$

6,321

 

 

$

6,441

 

Schedule of insurance premiums written by geographic region

Insurance premiums written by geographic region (based upon the domicile of the insured or reinsured) are summarized below (in millions).

 

 

Property/Casualty

 

 

Life/Health

 

 

2022

 

2021

 

2020

 

 

2022

 

2021

 

2020

 

United States

$

59,648

 

$

55,451

 

$

50,250

 

 

$

2,120

 

$

2,161

 

$

2,820

 

Western Europe

 

4,901

 

 

4,613

 

 

3,751

 

 

 

1,235

 

 

1,298

 

 

1,120

 

Asia Pacific

 

4,699

 

 

3,822

 

 

3,410

 

 

 

1,704

 

 

2,030

 

 

1,652

 

All other

 

1,440

 

 

1,389

 

 

1,062

 

 

 

721

 

 

805

 

 

836

 

 

$

70,688

 

$

65,275

 

$

58,473

 

 

$

5,780

 

$

6,294

 

$

6,428