XML 103 R60.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Business segment data (Tables)
12 Months Ended
Dec. 31, 2019
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 before income taxes

 

 

 

2019

 

 

2018

 

 

2017

 

 

2019

 

 

2018

 

 

2017

 

Operating Businesses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Insurance:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Underwriting:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GEICO

 

$

35,572

 

 

$

33,363

 

 

$

29,441

 

 

$

1,506

 

 

$

2,449

 

 

$

(310

)

Berkshire Hathaway Primary Group

 

 

9,165

 

 

 

8,111

 

 

 

7,143

 

 

 

383

 

 

 

670

 

 

 

719

 

Berkshire Hathaway Reinsurance Group

 

 

16,341

 

 

 

15,944

 

 

 

24,013

 

 

 

(1,472

)

 

 

(1,109

)

 

 

(3,648

)

Insurance underwriting

 

 

61,078

 

 

 

57,418

 

 

 

60,597

 

 

 

417

 

 

 

2,010

 

 

 

(3,239

)

Investment income

 

 

6,615

 

 

 

5,518

 

 

 

4,865

 

 

 

6,600

 

 

 

5,503

 

 

 

4,855

 

Total insurance

 

 

67,693

 

 

 

62,936

 

 

 

65,462

 

 

 

7,017

 

 

 

7,513

 

 

 

1,616

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BNSF

 

 

23,515

 

 

 

23,855

 

 

 

21,387

 

 

 

7,250

 

 

 

6,863

 

 

 

6,328

 

Berkshire Hathaway Energy

 

 

20,114

 

 

 

19,987

 

 

 

18,854

 

 

 

2,618

 

 

 

2,472

 

 

 

2,499

 

Manufacturing

 

 

62,730

 

 

 

61,883

 

 

 

57,645

 

 

 

9,522

 

 

 

9,366

 

 

 

8,324

 

McLane Company

 

 

50,458

 

 

 

49,987

 

 

 

49,775

 

 

 

288

 

 

 

246

 

 

 

299

 

Service and retailing

 

 

29,487

 

 

 

28,939

 

 

 

27,219

 

 

 

2,555

 

 

 

2,696

 

 

 

2,304

 

 

 

 

253,997

 

 

 

247,587

 

 

 

240,342

 

 

 

29,250

 

 

 

29,156

 

 

 

21,370

 

Reconciliation to consolidated amount:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investment and derivative gains/losses

 

 

 

 

 

 

 

 

 

 

 

72,607

 

 

 

(22,455

)

 

 

2,128

 

Interest expense, not allocated to segments

 

 

 

 

 

 

 

 

 

 

 

(416

)

 

 

(458

)

 

 

(486

)

Equity method investments

 

 

 

 

 

 

 

 

 

 

 

1,176

 

 

 

(2,167

)

 

 

3,014

 

Corporate, eliminations and other

 

 

619

 

 

 

250

 

 

 

(409

)

 

 

79

 

 

 

(75

)

 

 

(2,188

)

 

 

$

254,616

 

 

$

247,837

 

 

$

239,933

 

 

$

102,696

 

 

$

4,001

 

 

$

23,838

 

 

 

 

 

Interest expense

 

 

Income tax expense

 

 

 

2019

 

 

2018

 

 

2017

 

 

2019

 

 

2018

 

 

2017

 

Operating Businesses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Insurance

 

$

 

 

$

 

 

$

 

 

$

1,166

 

 

$

1,374

 

 

$

(71

)

BNSF

 

 

1,070

 

 

 

1,041

 

 

 

1,016

 

 

 

1,769

 

 

 

1,644

 

 

 

2,369

 

Berkshire Hathaway Energy

 

 

1,835

 

 

 

1,777

 

 

 

2,254

 

 

 

(526

)

 

 

(452

)

 

 

148

 

Manufacturing

 

 

752

 

 

 

690

 

 

 

679

 

 

 

2,253

 

 

 

2,188

 

 

 

2,678

 

McLane Company

 

 

 

 

 

15

 

 

 

19

 

 

 

71

 

 

 

59

 

 

 

94

 

Service and retailing

 

 

86

 

 

 

91

 

 

 

67

 

 

 

603

 

 

 

634

 

 

 

812

 

 

 

 

3,743

 

 

 

3,614

 

 

 

4,035

 

 

 

5,336

 

 

 

5,447

 

 

 

6,030

 

Reconciliation to consolidated amount:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investment and derivative gains/losses

 

 

 

 

 

 

 

 

 

 

 

15,159

 

 

 

(4,673

)

 

 

742

 

Interest expense, not allocated to segments

 

 

416

 

 

 

458

 

 

 

486

 

 

 

(88

)

 

 

(96

)

 

 

(170

)

Equity method investments

 

 

 

 

 

 

 

 

 

 

 

148

 

 

 

(753

)

 

 

910

 

Income tax net benefit – Tax Cuts and

   Jobs Act of 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(28,200

)

Corporate, eliminations and other

 

 

(198

)

 

 

(219

)

 

 

(135

)

 

 

349

 

 

 

(246

)

 

 

(827

)

 

 

$

3,961

 

 

$

3,853

 

 

$

4,386

 

 

$

20,904

 

 

$

(321

)

 

$

(21,515

)

Notes to Consolidated Financial Statements (Continued)

(27)

Business segment data (Continued)

 

 

 

Capital expenditures

 

 

Depreciation of tangible assets

 

 

 

2019

 

 

2018

 

 

2017

 

 

2019

 

 

2018

 

 

2017

 

Operating Businesses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Insurance

 

$

108

 

 

$

130

 

 

$

170

 

 

$

82

 

 

$

79

 

 

$

84

 

BNSF

 

 

3,608

 

 

 

3,187

 

 

 

3,256

 

 

 

2,350

 

 

 

2,268

 

 

 

2,304

 

Berkshire Hathaway Energy

 

 

7,364

 

 

 

6,241

 

 

 

4,571

 

 

 

2,947

 

 

 

2,830

 

 

 

2,548

 

Manufacturing

 

 

2,981

 

 

 

3,116

 

 

 

2,490

 

 

 

1,951

 

 

 

1,890

 

 

 

1,839

 

McLane Company

 

 

158

 

 

 

276

 

 

 

289

 

 

 

225

 

 

 

204

 

 

 

193

 

Service and retailing

 

 

1,760

 

 

 

1,587

 

 

 

932

 

 

 

1,192

 

 

 

1,115

 

 

 

751

 

 

 

$

15,979

 

 

$

14,537

 

 

$

11,708

 

 

$

8,747

 

 

$

8,386

 

 

$

7,719

 

 

 

 

 

Goodwill at year-end

 

 

Identifiable assets at year-end

 

 

 

2019

 

 

2018

 

 

2017

 

 

2019

 

 

2018

 

 

2017

 

Operating Businesses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Insurance

 

$

15,289

 

 

$

15,289

 

 

$

15,499

 

 

$

364,550

 

 

$

289,746

 

 

$

294,418

 

BNSF

 

 

14,851

 

 

 

14,851

 

 

 

14,845

 

 

 

73,699

 

 

 

70,242

 

 

 

69,438

 

Berkshire Hathaway Energy

 

 

9,979

 

 

 

9,851

 

 

 

9,935

 

 

 

88,651

 

 

 

80,543

 

 

 

77,710

 

Manufacturing

 

 

34,800

 

 

 

34,019

 

 

 

33,967

 

 

 

104,437

 

 

 

99,912

 

 

 

97,753

 

McLane Company

 

 

734

 

 

 

734

 

 

 

734

 

 

 

6,872

 

 

 

6,243

 

 

 

6,090

 

Service and retailing

 

 

6,229

 

 

 

6,281

 

 

 

6,278

 

 

 

26,494

 

 

 

24,724

 

 

 

20,014

 

 

 

$

81,882

 

 

$

81,025

 

 

$

81,258

 

 

 

664,703

 

 

 

571,410

 

 

 

565,423

 

Reconciliation to consolidated amount:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate and other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

71,144

 

 

 

55,359

 

 

 

55,414

 

Goodwill

 

 

 

 

 

 

 

 

 

 

 

 

 

 

81,882

 

 

 

81,025

 

 

 

81,258

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

817,729

 

 

$

707,794

 

 

$

702,095

 

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

 

 

 

2019

 

 

2018

 

 

2017

 

 

2019

 

 

2018

 

 

2017

 

Premiums Written:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Direct

 

$

47,578

 

 

$

44,513

 

 

$

39,377

 

 

$

839

 

 

$

1,111

 

 

$

866

 

Assumed

 

 

10,214

 

 

 

8,970

 

 

 

17,815

 

 

 

5,046

 

 

 

5,540

 

 

 

4,925

 

Ceded

 

 

(821

)

 

 

(869

)

 

 

(694

)

 

 

(45

)

 

 

(49

)

 

 

(47

)

 

 

$

56,971

 

 

$

52,614

 

 

$

56,498

 

 

$

5,840

 

 

$

6,602

 

 

$

5,744

 

Premiums Earned:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Direct

 

$

46,540

 

 

$

43,095

 

 

$

37,755

 

 

$

839

 

 

$

1,111

 

 

$

866

 

Assumed

 

 

9,643

 

 

 

8,649

 

 

 

17,813

 

 

 

4,952

 

 

 

5,438

 

 

 

4,866

 

Ceded

 

 

(851

)

 

 

(825

)

 

 

(677

)

 

 

(45

)

 

 

(50

)

 

 

(26

)

 

 

$

55,332

 

 

$

50,919

 

 

$

54,891

 

 

$

5,746

 

 

$

6,499

 

 

$

5,706

 

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

 

 

 

2019

 

 

2018

 

 

2017

 

 

2019

 

 

2018

 

 

2017

 

United States

 

$

50,529

 

 

$

46,146

 

 

$

50,604

 

 

$

2,553

 

 

$

3,598

 

 

$

3,320

 

Asia Pacific

 

 

3,114

 

 

 

3,726

 

 

 

3,307

 

 

 

1,582

 

 

 

1,361

 

 

 

879

 

Western Europe

 

 

2,535

 

 

 

2,157

 

 

 

1,516

 

 

 

908

 

 

 

939

 

 

 

909

 

All other

 

 

793

 

 

 

585

 

 

 

1,071

 

 

 

797

 

 

 

704

 

 

 

636

 

 

 

$

56,971

 

 

$

52,614

 

 

$

56,498

 

 

$

5,840

 

 

$

6,602

 

 

$

5,744