Condensed Financial Information

12 Months Ended

Dec. 31, 2021

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Condensed Financial Information

BERKSHIRE HATHAWAY INC. (Parent Company)

Condensed Financial Information

(Dollars in millions)

Schedule I

Balance Sheets

	December 31,
	2021		2020
Assets:
Cash and cash equivalents	$	18,797	$	12,329
Short-term investments in U.S. Treasury Bills		9,681		29,773
Investments in and advances to/from consolidated subsidiaries		486,862		411,826
Investment in The Kraft Heinz Company		13,112		13,336
Other assets		140		108
	$	528,592	$	467,372
Liabilities and Shareholders’ Equity:
Accounts payable, accrued interest and other liabilities	$	237	$	369
Income taxes, principally deferred		747		1,174
Notes payable and other borrowings		21,409		22,665
		22,393		24,208
Berkshire Hathaway shareholders’ equity		506,199		443,164
	$	528,592	$	467,372

Statements of Earnings and Comprehensive Income

	Year ended December 31,
	2021			2020			2019
Income items:
From consolidated subsidiaries:
Dividends and distributions	$	13,462		$	26,110		$	15,603
Undistributed earnings		74,819			17,402			65,237
		88,281			43,512			80,840
Investment gains (losses)		35			(24	)		(125	)
Equity in net earnings of The Kraft Heinz Company		269			95			493
Other income		73			328			780
		88,658			43,911			81,988
Cost and expense items:
General and administrative		136			194			122
Interest expense		444			489			591
Foreign exchange (gains) losses on non-U.S. Dollar denominated debt		(1,281	)		970			(193	)
Income tax expense (benefit)		(436	)		(263	)		51
		(1,137	)		1,390			571
Net earnings attributable to Berkshire Hathaway shareholders		89,795			42,521			81,417
Other comprehensive income attributable to Berkshire Hathaway shareholders		216			1,000			(228	)
Comprehensive income attributable to Berkshire Hathaway shareholders	$	90,011		$	43,521		$	81,189

See Note to Condensed Financial Information

BERKSHIRE HATHAWAY INC. (Parent Company)

Condensed Financial Information

(Dollars in millions)

Schedule I (continued)

Statements of Cash Flows

	Year ended December 31,
	2021			2020			2019
Cash flows from operating activities:
Net earnings attributable to Berkshire Hathaway shareholders	$	89,795		$	42,521		$	81,417
Adjustments to reconcile net earnings to cash flows from operating activities:
Investment gains/losses		(35	)		24			125
Undistributed earnings of consolidated subsidiaries		(74,819	)		(17,402	)		(65,237	)
Non-cash dividends from subsidiaries		(2,126	)		(8,296	)		—
Income taxes payable		(389	)		(72	)		(56	)
Other		(1,038	)		1,100			(693	)
Net cash flows from operating activities		11,388			17,875			15,556
Cash flows from investing activities:
Investments in and advances to/from consolidated subsidiaries, net		(174	)		(1,947	)		60
Purchases of U.S. Treasury Bills		(34,988	)		(54,715	)		(40,107	)
Sales and maturities of U.S. Treasury Bills		57,296			59,035			36,943
Other		—			11			737
Net cash flows from investing activities		22,134			2,384			(2,367	)
Cash flows from financing activities:
Proceeds from borrowings		2,174			2,923			3,967
Repayments of borrowings		(2,167	)		(1,151	)		(758	)
Acquisition of treasury stock		(27,061	)		(24,706	)		(4,850	)
Other		—			—			19
Net cash flows from financing activities		(27,054	)		(22,934	)		(1,622	)
Increase (decrease) in cash and cash equivalents		6,468			(2,675	)		11,567
Cash and cash equivalents at beginning of year		12,329			15,004			3,437
Cash and cash equivalents at end of year	$	18,797		$	12,329		$	15,004
Other cash flow information:
Income taxes paid	$	3,403		$	3,391		$	3,531
Interest paid	377			359				364

Note to Condensed Financial Information

Berkshire currently owns 26.6% of the outstanding shares of The Kraft Heinz Company (“Kraft Heinz”) common stock, which is accounted for pursuant to the equity method. See Note 5 to the accompanying Consolidated Financial Statements for additional information regarding this investment.

In 2021, the Parent Company repaid €550 million of maturing senior notes and $1.5 billion of maturing senior notes and issued €600 million of 0.5% senior notes due in 2041 and ¥160 billion (approximately $1.5 billion) of senior notes with maturity dates ranging from 2026 to 2041 with a weighted average interest rate of 0.5%. As of December 31, 2021, the Parent Company’s non-U.S. Dollar denominated borrowings included €6.9 billion and ¥785.5 billion par value senior notes. The gains and losses from the periodic remeasurement of these non-U.S. Dollar denominated notes due to changes in foreign currency exchange rates are included in earnings. In January 2022, Berkshire repaid $600 million of maturing debt and issued ¥128.5 billion (approximately $1.1 billion) of senior notes with maturity dates ranging from 2027 to 2052 and a weighted average interest rate of 0.5%.

Parent Company debt maturities over the next five years are as follows: 2022—$600 million; 2023—$4,467 million; 2024—$2,080 million; 2025—$1,681 million and 2026—$3,378 million. The Parent Company guarantees certain debt of subsidiaries, which aggregated approximately $17.0 billion at December 31, 2021, which was primarily debt issued by Berkshire Hathaway Finance Corporation. Such guarantees are an absolute, unconditional and irrevocable guarantee for the full and prompt payment when due of all present and future payment obligations. The Parent Company has also provided guarantees in connection with certain retroactive reinsurance contracts issued by subsidiaries. The amounts of subsidiary payments under these contracts, if any, is contingent upon the outcome of future events.