Quarterly data (Tables)

12 Months Ended

Dec. 31, 2011

Schedule of quarterly revenues and earnings

A summary of revenues and earnings by quarter for each of the last two years is presented in the following table. This information is unaudited. Dollars are in millions, except per share amounts.

	1st Quarter		2nd Quarter		3rd Quarter		4th Quarter
2011
Revenues	$	33,720	$	38,274	$	33,739	$	37,955
Net earnings attributable to Berkshire *		1,511		3,417		2,278		3,048
Net earnings attributable to Berkshire per equivalent Class A common share		917		2,072		1,380		1,846
2010
Revenues	$	32,037	$	31,709	$	36,274	$	36,165
Net earnings attributable to Berkshire *		3,633		1,968		2,989		4,377
Net earnings attributable to Berkshire per equivalent Class A common share		2,272		1,195		1,814		2,656

* Includes realized investment gains/losses, other-than-temporary impairment losses on investments and derivative gains/losses. Derivative gains/losses include significant amounts related to non-cash changes in the fair value of long-term contracts arising from short-term changes in equity prices, interest rates and foreign currency rates, among other factors. After-tax investment and derivative gains/losses for the periods presented above are as follows (in millions):

	1st Quarter			2nd Quarter			3rd Quarter			4th Quarter
Investment and derivative gains/losses – 2011	$	(82	)	$	713		$	(1,534	)	$	382
Investment and derivative gains/losses – 2010		1,411			(1,106	)		202			1,367