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Business segment data

Our operating businesses include a large and diverse group of insurance, finance, manufacturing, service and retailing businesses. 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 from segment results when 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 certain purchase accounting adjustments related to Berkshire’s business acquisitions in assessing the performance of reporting units. Collectively, these items are included in reconciliations of segment amounts to consolidated amounts.


Business Identity		Business Activity

Insurance:

GEICO		Underwriting private passenger automobile insurance mainly by direct response methods

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

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 worldwide

BNSF		Operation of one of the largest railroad systems in North America

Berkshire Hathaway Energy		Regulated electric and gas utility, including power generation and distribution activities and real estate brokerage activities

Manufacturing		Manufacturers of numerous products including industrial, consumer and building products

McLane Company		Wholesale distribution of groceries and non-food items

Service and retailing		Providers of numerous services including fractional aircraft ownership programs, aviation pilot training, electronic components distribution and various retailing businesses, including automotive dealerships

Finance and financial products		Manufactured housing and related consumer financing, transportation equipment, manufacturing and leasing, and furniture leasing

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


	Revenues									Earnings before income taxes
	2016			2015			2014			2016			2015			2014
Operating Businesses:
Insurance:
Underwriting:
GEICO	$	25,483		$	22,718		$	20,496		$	462		$	460		$	1,159
BH Primary		6,257			5,394			4,377			657			824			626
General Re		5,637			5,975			6,264			190			132			277
BHRG		8,504			7,207			10,116			822			421			606

Total underwriting		45,881			41,294			41,253			2,131			1,837			2,668

Investment income		4,522			4,562			4,370			4,482			4,550			4,357

Total insurance		50,403			45,856			45,623			6,613			6,387			7,025
BNSF		19,829			21,967			23,239			5,693			6,775			6,169
Berkshire Hathaway Energy		17,859			18,231			17,614			2,973			2,851			2,711
Manufacturing		46,506			36,136			36,773			6,211			4,893			4,811
McLane Company		48,075			48,223			46,640			431			502			435
Service and retailing		25,478			23,466			14,276			1,820			1,720			1,546
Finance and financial products		7,675			6,964			6,526			2,130			2,086			1,839

		215,825			200,843			190,691			25,871			25,214			24,536
Reconciliation to consolidated amount:
Investment and derivative gains/losses		8,304			10,347			4,081			8,304			10,347			4,081
Interest expense, not allocated to segments		—			—			—			(230	)		(374	)		(313	)
Investments in Kraft Heinz		180			852			720			1,103			730			694
Corporate, eliminations and other		(705	)		(1,099	)		(793	)		(1,381	)		(971	)		(893	)

	$	223,604		$	210,943		$	194,699		$	33,667		$	34,946		$	28,105


	Interest expense									Income tax expense
	2016			2015			2014			2016			2015			2014
Operating Businesses:
Insurance	$	—		$	—		$	—		$	1,585		$	1,475		$	1,768
BNSF		992			928			833			2,124			2,527			2,300
Berkshire Hathaway Energy		1,715			1,830			1,623			403			450			589
Manufacturing		164			50			69			1,945			1,548			1,544
McLane Company		—			13			14			169			195			169
Service and retailing		50			40			11			669			651			576
Finance and financial products		411			384			463			702			708			597

		3,332			3,245			3,013			7,597			7,554			7,543
Reconciliation to consolidated amount:
Investment and derivative gains/losses		—			—			—			1,807			3,622			760
Interest expense, not allocated to segments		230			374			313			(81	)		(131	)		(110	)
Investments in Kraft Heinz		—			—			—			397			(111	)		41
Corporate, eliminations and other		(65	)		(104	)		(73	)		(480	)		(402	)		(299	)

	$	3,497		$	3,515		$	3,253		$	9,240		$	10,532		$	7,935


	Capital expenditures						Depreciation of tangible assets
	2016		2015		2014		2016		2015		2014
Operating Businesses:
Insurance	$	128	$	115	$	94	$	85	$	77	$	69
BNSF		3,819		5,651		5,243		2,079		1,932		1,804
Berkshire Hathaway Energy		5,090		5,875		6,555		2,560		2,451		2,177
Manufacturing		1,813		1,292		1,324		1,287		938		943
McLane Company		258		338		241		165		161		159
Service and retailing		804		574		591		611		504		461
Finance and financial products		1,042		2,237		1,137		624		610		602

	$	12,954	$	16,082	$	15,185	$	7,411	$	6,673	$	6,215


	Goodwill at year-end				Identifiable assets at year-end
	2016		2015		2016		2015		2014
Operating Businesses:
Insurance:
GEICO	$	1,471	$	1,471	$	55,041	$	48,291	$	45,439
General Re		13,494		13,527		30,321		26,478		28,692
BHRG and BH Primary		509		538		148,675		144,682		151,301

Total insurance		15,474		15,536		234,037		219,451		225,432
BNSF		14,845		14,845		69,277		66,613		62,840
Berkshire Hathaway Energy		9,266		9,333		76,428		74,221		71,285
Manufacturing		32,041		14,833		69,900		34,141		34,509
McLane Company		734		656		5,896		5,871		5,419
Service and retailing		5,745		6,163		17,450		16,299		11,303
Finance and financial products		1,381		1,342		40,329		37,621		32,158

	$	79,486	$	62,708		513,317		454,217		442,946

Reconciliation to consolidated amount:
Corporate and other						28,051		35,332		22,207
Goodwill						79,486		62,708		60,714

					$	620,854	$	552,257	$	525,867

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


	Property/Casualty									Life/Health
	2016			2015			2014			2016			2015			2014
Premiums Written:
Direct	$	34,001		$	30,544		$	27,541		$	1,060		$	821		$	879
Assumed		8,037			7,049			9,889			4,672			5,187			5,030
Ceded		(798	)		(877	)		(839	)		(62	)		(57	)		(67	)

	$	41,240		$	36,716		$	36,591		$	5,670		$	5,951		$	5,842

Premiums Earned:
Direct	$	33,207		$	29,608		$	26,389		$	1,060		$	821		$	879
Assumed		7,848			6,584			9,872			4,671			5,192			5,030
Ceded		(843	)		(854	)		(850	)		(62	)		(57	)		(67	)

	$	40,212		$	35,338		$	35,411		$	5,669		$	5,956		$	5,842

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
	2016		2015		2014		2016		2015		2014
United States	$	35,878	$	31,171	$	31,362	$	3,473	$	3,247	$	3,402
Asia Pacific		3,616		3,472		1,953		715		673		651
Western Europe		1,406		1,638		2,424		822		1,263		1,135
All other		340		435		852		660		768		654

	$	41,240	$	36,716	$	36,591	$	5,670	$	5,951	$	5,842

Consolidated sales and service revenues were $125.7 billion in 2016, $112.4 billion in 2015 and $102.2 billion in 2014. In 2016, 85% of such revenues were attributable to the United States compared to 87% in 2015 and 85% in 2014. The remainder of sales and service revenues were primarily in Europe, Canada and the Asia Pacific. Consolidated sales and service revenues included sales to Wal-Mart Stores, Inc. of approximately $14 billion in 2016 and $13 billion in 2015 and 2014. Approximately 95% of our revenues for each of the last three years from railroad, utilities and energy businesses were in the United States. At December 31, 2016, approximately 89% of our consolidated net property, plant and equipment was located in the United States with the remainder primarily in Canada and Europe.