(22) Business segment data

Our reportable business segments are organized in a manner that reflects how management views those business activities. Certain businesses have been grouped together for segment reporting based upon similar products or product lines, marketing, selling and distribution characteristics, even though those business units are operated under separate local management.

The tabular information that follows shows data of reportable segments reconciled to amounts reflected in our Consolidated Financial Statements. Intersegment transactions are not eliminated in instances where management considers those transactions in assessing the results of the respective segments. Furthermore, our management does not consider investment and derivative gains/losses or amortization of purchase accounting adjustments related to Berkshire’s acquisition in assessing the performance of reporting units. Collectively, these items are included in reconciliations of segment amounts to consolidated amounts.


Business Identity		Business Activity

GEICO		Underwriting private passenger automobile insurance mainly by direct response methods

General Re		Underwriting excess-of-loss, quota-share and facultative reinsurance worldwide

Berkshire Hathaway Reinsurance Group		Underwriting excess-of-loss and quota-share reinsurance for insurers and reinsurers

Berkshire Hathaway Primary Group		Underwriting multiple lines of property and casualty insurance policies for primarily commercial accounts

BNSF		Operates one of the largest railroad systems in North America

Clayton Homes, XTRA, CORT and other financial services (“Finance and financial products”)		Proprietary investing, manufactured housing and related consumer financing, transportation equipment leasing and furniture leasing

Marmon		An association of approximately 150 manufacturing and service businesses that operate within 11 diverse business sectors

McLane Company		Wholesale distribution of groceries and non-food items

MidAmerican		Regulated electric and gas utility, including power generation and distribution activities in the U.S. and internationally; domestic real estate brokerage

Other businesses not specifically identified with reportable business segments consist of a large, diverse group of manufacturing, service and retailing businesses. A disaggregation of our consolidated data for each of the three most recent years is presented in the tables which follow on this and the following two pages (in millions).


	Revenues							Earnings before income taxes
	2012		2011			2010		2012			2011			2010
Operating Businesses:
Insurance group:
Underwriting:
GEICO	$	16,740	$	15,363		$	14,283	$	680		$	576		$	1,117
General Re		5,870		5,816			5,693		355			144			452
Berkshire Hathaway Reinsurance Group		9,672		9,147			9,076		304			(714	)		176
Berkshire Hathaway Primary Group		2,263		1,749			1,697		286			242			268
Investment income		4,474		4,746			5,186		4,454			4,725			5,145

Total insurance group		39,019		36,821			35,935		6,079			4,973			7,158
BNSF ⁽¹⁾		20,835		19,548			15,059		5,377			4,741			3,611
Finance and financial products		4,110		4,014			4,264		848			774			689
Marmon		7,171		6,925			5,967		1,137			992			813
McLane Company		37,437		33,279			32,687		403			370			369
MidAmerican		11,747		11,291			11,305		1,644			1,659			1,539
Other businesses ⁽²⁾		38,647		32,202			27,956		4,591			3,675			3,092

		158,966		144,080			133,173		20,079			17,184			17,271
Reconciliation of segments to consolidated amount:
Investment and derivative gains/losses		3,425		(830	)		2,346		3,425			(830	)		2,346
Interest expense, not allocated to segments		—		—			—		(271	)		(221	)		(208	)
Eliminations and other		72		438			666		(997	)		(819	)		(358	)

	$	162,463	$	143,688		$	136,185	$	22,236		$	15,314		$	19,051

⁽¹⁾	From acquisition date of February 12, 2010.

⁽²⁾	Includes Lubrizol from the acquisition date of September 16, 2011.


	Capital expenditures						Depreciation of tangible assets
	2012		2011		2010		2012		2011		2010
Operating Businesses:
Insurance group	$	61	$	40	$	40	$	57	$	56	$	66
BNSF ⁽¹⁾		3,548		3,325		1,829		1,573		1,480		1,221
Finance and financial products		367		331		233		184		180		204
Marmon		817		514		307		479		484		507
McLane Company		225		188		166		149		129		129
MidAmerican		3,380		2,684		2,593		1,440		1,333		1,262
Other businesses ⁽²⁾		1,377		1,109		812		1,264		1,021		890

	$	9,775	$	8,191	$	5,980	$	5,146	$	4,683	$	4,279

⁽¹⁾	From acquisition date of February 12, 2010.

⁽²⁾	Includes Lubrizol from the acquisition date of September 16, 2011.


	Goodwill at year-end				Identifiable assets at year-end
	2012		2011		2012		2011		2010
Operating Businesses:
Insurance group:
GEICO	$	1,372	$	1,372	$	30,986	$	27,253	$	25,631
General Re		13,532		13,532		30,477		28,442		29,196
Berkshire Hathaway Reinsurance and Primary Groups		607		607		118,819		104,913		104,383

Total insurance group		15,511		15,511		180,282		160,608		159,210

BNSF		14,836		14,803		56,839		55,282		53,476
Finance and financial products		1,036		1,032		24,412		23,919		24,692
Marmon		814		727		11,230		10,597		10,047
McLane Company		705		155		5,090		4,107		4,018
MidAmerican		5,377		5,253		46,856		42,039		40,045
Other businesses *		16,244		15,732		36,875		34,994		24,144

	$	54,523	$	53,213		361,584		331,546		315,632

Reconciliation of segments to consolidated amount:
Corporate and other						11,345		7,888		7,591
Goodwill						54,523		53,213		49,006

					$	427,452	$	392,647	$	372,229

*	Includes Lubrizol, acquired in 2011.

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


	Property/Casualty						Life/Health
	2012		2011		2010		2012		2011		2010
United States	$	23,186	$	22,253	$	21,539	$	3,504	$	3,100	$	3,210
Western Europe		4,387		4,495		3,377		1,114		880		945
All other		2,319		1,089		918		1,217		1,090		927

	$	29,892	$	27,837	$	25,834	$	5,835	$	5,070	$	5,082

In 2012, 2011 and 2010, premiums written and earned attributable to Western Europe were primarily in the United Kingdom, Germany, Switzerland and Luxembourg. In 2012, 2011 and 2010, property/casualty insurance premiums earned included approximately $3.4 billion, $2.9 billion and $2.4 billion, respectively, from Swiss Reinsurance Company Ltd. and its affiliates. Life/health insurance premiums written and earned in the United States included approximately $1.5 billion in 2012 and 2011 and $2.1 billion in 2010 from a single contract with Swiss Re Life & Health America Inc., an affiliate of Swiss Reinsurance Company Ltd.

Consolidated sales and service revenues in 2012, 2011 and 2010 were $83.3 billion, $72.8 billion and $67.2 billion, respectively. Approximately 84% of such amounts in 2012 were in the United States compared with approximately 86% in 2011 and 88% in 2010. The remainder of sales and service revenues were primarily in Europe and Canada. In each of the three years ending December 31, 2012, consolidated sales and service revenues included approximately $12 billion of sales to Wal-Mart Stores, Inc., which were primarily related to McLane’s wholesale distribution business.

Approximately 96% of our revenues in 2012 and 2011 from railroad, utilities and energy businesses were in the United States versus 97% in 2010. In each year, most of the remainder was attributed to the United Kingdom. At December 31, 2012, 91% of our consolidated net property, plant and equipment was located in the United States with the remainder primarily in Europe and Canada.

Premiums written and earned by the property/casualty and life/health insurance businesses are summarized below (in millions).


	Property/Casualty									Life/Health
	2012			2011			2010			2012			2011			2010
Premiums Written:
Direct	$	20,796		$	18,512		$	17,128		$	554		$	67		$	3
Assumed		9,668			9,867			9,171			5,391			5,133			5,203
Ceded		(572	)		(542	)		(465	)		(110	)		(130	)		(124	)

	$	29,892		$	27,837		$	25,834		$	5,835		$	5,070		$	5,082

Premiums Earned:
Direct	$	20,204		$	18,038		$	16,932		$	554		$	67		$	3
Assumed		9,142			9,523			9,266			5,356			5,099			5,208
Ceded		(600	)		(522	)		(536	)		(111	)		(130	)		(124	)

	$	28,746		$	27,039		$	25,662		$	5,799		$	5,036		$	5,087