Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2021 | Oct. 27, 2021 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2021 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q3 | |
Entity File Number | 001-14905 | |
Entity Tax Identification Number | 47-0813844 | |
Entity Address, Address Line One | 3555 Farnam Street | |
Entity Address, City or Town | Omaha | |
Entity Address, State or Province | NE | |
Entity Address, Postal Zip Code | 68131 | |
City Area Code | 402 | |
Local Phone Number | 346-1400 | |
Entity Registrant Name | BERKSHIRE HATHAWAY INC | |
Entity Central Index Key | 0001067983 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Interactive Data Current | Yes | |
Entity Incorporation, State or Country Code | DE | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Common Class A [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 619,938 | |
Security 12b Title | Class A Common Stock | |
Trading Symbol | BRK.A | |
Security Exchange Name | NYSE | |
Common Class B [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 1,303,476,707 | |
Security 12b Title | Class B Common Stock | |
Trading Symbol | BRK.B | |
Security Exchange Name | NYSE | |
M 0.750 Senior Notes Due 2023 [Member] | ||
Document Information [Line Items] | ||
Security 12b Title | 0.750% Senior Notes due 2023 | |
Trading Symbol | BRK23 | |
Security Exchange Name | NYSE | |
M 1.125 Senior Notes Due 2027 [Member] | ||
Document Information [Line Items] | ||
Security 12b Title | 1.125% Senior Notes due 2027 | |
Trading Symbol | BRK27 | |
Security Exchange Name | NYSE | |
M 1.625 Senior Notes Due 2035 [Member] | ||
Document Information [Line Items] | ||
Security 12b Title | 1.625% Senior Notes due 2035 | |
Trading Symbol | BRK35 | |
Security Exchange Name | NYSE | |
M 1.300 Senior Notes Due 2024 [Member] | ||
Document Information [Line Items] | ||
Security 12b Title | 1.300% Senior Notes due 2024 | |
Trading Symbol | BRK24 | |
Security Exchange Name | NYSE | |
M 2.150 Senior Notes Due 2028 [Member] | ||
Document Information [Line Items] | ||
Security 12b Title | 2.150% Senior Notes due 2028 | |
Trading Symbol | BRK28 | |
Security Exchange Name | NYSE | |
M 0.625 Senior Notes Due 2023 [Member] | ||
Document Information [Line Items] | ||
Security 12b Title | 0.625% Senior Notes due 2023 | |
Trading Symbol | BRK23A | |
Security Exchange Name | NYSE | |
M 0.000 Senior Notes Due 2025 [Member] | ||
Document Information [Line Items] | ||
Security 12b Title | 0.000% Senior Notes due 2025 | |
Trading Symbol | BRK25 | |
Security Exchange Name | NYSE | |
M 2.375 Senior Notes Due 2039 [Member] | ||
Document Information [Line Items] | ||
Security 12b Title | 2.375% Senior Notes due 2039 | |
Trading Symbol | BRK39 | |
Security Exchange Name | NYSE | |
M 0.500 Senior Notes Due 2041 [Member] | ||
Document Information [Line Items] | ||
Security 12b Title | 0.500% Senior Notes due 2041 | |
Trading Symbol | BRK41 | |
Security Exchange Name | NYSE | |
M 2.625 Senior Notes Due 2059 [Member] | ||
Document Information [Line Items] | ||
Security 12b Title | 2.625% Senior Notes due 2059 | |
Trading Symbol | BRK59 | |
Security Exchange Name | NYSE |
Consolidated Balance Sheets
Consolidated Balance Sheets £ in Millions, $ in Millions, € in Billions, ¥ in Billions | Sep. 30, 2021USD ($) | Dec. 31, 2020USD ($) | |||
ASSETS | |||||
Investments in fixed maturity securities | $ 18,125 | $ 20,410 | |||
Investments in equity securities | 310,739 | [1] | 281,170 | [2] | |
Loans and finance receivables | 20,397 | 19,201 | |||
Inventories | 20,191 | 19,208 | |||
Equipment held for lease | 14,752 | 14,601 | |||
Goodwill | [3] | 73,770 | 73,734 | ||
Deferred charges under retroactive reinsurance contracts | 11,732 | 12,441 | |||
Total assets | 920,758 | 873,729 | |||
LIABILITIES | |||||
Unpaid losses and loss adjustment expenses | 85,754 | 79,854 | |||
Unpaid losses and loss adjustment expenses under retroactive reinsurance contracts | 39,721 | 40,966 | |||
Income taxes, principally deferred | 82,248 | 74,098 | |||
Total liabilities | 439,683 | 422,393 | |||
Shareholders’ equity: | |||||
Common stock | 8 | 8 | |||
Capital in excess of par value | 35,603 | 35,626 | |||
Accumulated other comprehensive income | (4,834) | (4,243) | |||
Retained earnings | 494,775 | 444,626 | |||
Treasury stock, at cost | (53,072) | (32,853) | |||
Berkshire Hathaway shareholders’ equity | 472,480 | 443,164 | |||
Noncontrolling interests | 8,595 | 8,172 | |||
Total shareholders’ equity | 481,075 | 451,336 | |||
Total liabilities and shareholders' equity | 920,758 | 873,729 | |||
Insurance and Other [Member] | |||||
ASSETS | |||||
Cash and cash equivalents | [4] | 65,156 | 44,714 | ||
Short-term investments in U.S. Treasury Bills | 79,209 | 90,300 | |||
Investments in fixed maturity securities | 18,125 | 20,410 | |||
Investments in equity securities | 310,739 | 281,170 | |||
Equity method investments | 16,658 | 17,303 | |||
Loans and finance receivables | 20,397 | 19,201 | |||
Other receivables | 37,277 | 32,310 | |||
Inventories | 20,191 | 19,208 | |||
Property, plant and equipment | 20,722 | 21,200 | |||
Equipment held for lease | 14,752 | 14,601 | |||
Goodwill | 47,090 | 47,121 | |||
Other intangible assets | 28,643 | 29,462 | |||
Deferred charges under retroactive reinsurance contracts | 11,732 | 12,441 | |||
Other | 16,301 | 14,580 | |||
Total assets | 706,992 | 664,021 | |||
LIABILITIES | |||||
Unpaid losses and loss adjustment expenses | 85,754 | 79,854 | |||
Unpaid losses and loss adjustment expenses under retroactive reinsurance contracts | 39,721 | 40,966 | |||
Unearned premiums | 25,239 | 21,395 | |||
Life, annuity and health insurance benefits | 22,409 | 21,616 | |||
Other policyholder liabilities | 8,863 | 8,670 | |||
Accounts payable, accruals and other liabilities | 31,154 | 29,279 | |||
Derivative contract liabilities | 286 | 1,065 | |||
Aircraft repurchase liabilities and unearned lease revenues | 5,840 | 5,856 | |||
Notes payable and other borrowings | 39,645 | 41,522 | |||
Total liabilities | 258,911 | 250,223 | |||
Railroad, Utilities and Energy [Member] | |||||
ASSETS | |||||
Cash and cash equivalents | [4] | 4,833 | 3,276 | ||
Receivables | 4,324 | 3,542 | |||
Property, plant and equipment | 153,401 | 151,216 | |||
Goodwill | 26,680 | 26,613 | |||
Regulatory assets | 3,842 | 3,440 | |||
Other | 20,686 | 21,621 | |||
Total assets | 213,766 | 209,708 | |||
LIABILITIES | |||||
Accounts payable, accruals and other liabilities | 15,978 | 15,224 | |||
Regulatory liabilities | 7,226 | 7,475 | |||
Notes payable and other borrowings | 75,320 | 75,373 | |||
Total liabilities | $ 98,524 | $ 98,072 | |||
[1] | Approximately 70% of the aggregate fair value was concentrated in four companies (American Express Company – $25.4 billion; Apple Inc. – $128.4 billion; Bank of America Corporation – $43.9 billion and The Coca-Cola Company – $21.0 billion). | ||||
[2] | Approximately 68% of the aggregate fair value was concentrated in four companies (American Express Company – $18.3 billion; Apple Inc. – $120.4 billion; Bank of America Corporation – $31.3 billion and The Coca-Cola Company – $21.9 billion). | ||||
[3] | Net of accumulated goodwill impairments of $11.0 billion as of September 30, 2021 and December 31, 2020. | ||||
[4] | Includes U.S. Treasury Bills with maturities of three months or less when purchased of $37.9 billion at September 30, 2021 and $23.2 billion at December 31, 2020. |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Billions | Sep. 30, 2021 | Dec. 31, 2020 |
U.S. Treasury Bills [Member] | ||
Cash equivalents | $ 37.9 | $ 23.2 |
Consolidated Statements of Earn
Consolidated Statements of Earnings - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Revenues: | ||||
Insurance and other sales and service / Energy operating revenues | $ 49,014 | $ 43,494 | $ 141,747 | $ 122,324 |
Leasing revenues | 1,565 | 1,316 | 4,336 | 3,905 |
Total revenues | 70,583 | 63,024 | 204,296 | 181,129 |
Investment and derivative contract gains | 4,921 | 31,582 | 38,015 | 1,392 |
Costs and expenses: | ||||
Total costs and expenses | 63,397 | 56,966 | 180,353 | 172,564 |
Earnings before income taxes and equity method earnings | 12,107 | 37,640 | 61,958 | 9,957 |
Equity method earnings | 377 | 290 | 775 | 333 |
Earnings before income taxes | 12,484 | 37,930 | 62,733 | 10,290 |
Income tax expense | 1,840 | 7,517 | 11,824 | 3,167 |
Net earnings | 10,644 | 30,413 | 50,909 | 7,123 |
Earnings attributable to noncontrolling interests | 300 | 276 | 760 | 437 |
Net earnings attributable to Berkshire Hathaway shareholders | $ 10,344 | $ 30,137 | $ 50,149 | $ 6,686 |
Equivalent Class A [Member] | ||||
Costs and expenses: | ||||
Net earnings per average equivalent share | $ 6,882 | $ 18,994 | $ 33,025 | $ 4,160 |
Average equivalent shares outstanding | 1,503,013 | 1,586,698 | 1,518,513 | 1,607,041 |
Equivalent Class B [Member] | ||||
Costs and expenses: | ||||
Net earnings per average equivalent share | $ 4.59 | $ 12.66 | $ 22.02 | $ 2.77 |
Average equivalent shares outstanding | 2,254,518,838 | 2,380,046,304 | 2,277,769,582 | 2,410,561,550 |
Insurance and Other [Member] | ||||
Revenues: | ||||
Insurance premiums earned | $ 17,727 | $ 15,913 | $ 51,314 | $ 47,256 |
Insurance and other sales and service / Energy operating revenues | 36,722 | 32,703 | 107,163 | 93,332 |
Leasing revenues | 1,565 | 1,316 | 4,336 | 3,905 |
Interest, dividend and other investment income | 1,795 | 1,717 | 5,544 | 6,143 |
Total revenues | 57,809 | 51,649 | 168,357 | 150,636 |
Costs and expenses: | ||||
Insurance losses and loss adjustment expenses | 13,939 | 11,667 | 37,078 | 32,712 |
Life, annuity and health insurance benefits | 1,568 | 1,311 | 4,507 | 4,101 |
Insurance underwriting expenses | 3,239 | 3,228 | 9,318 | 9,219 |
Cost of sales and services | 28,984 | 25,957 | 84,275 | 74,565 |
Cost of leasing | 1,116 | 854 | 2,980 | 2,605 |
Selling, general and administrative expenses | 4,889 | 5,181 | 13,844 | 14,304 |
Goodwill and intangible asset impairments | 25 | 10,659 | ||
Interest expense | 286 | 263 | 860 | 817 |
Total costs and expenses | 54,021 | 48,486 | 152,862 | 148,982 |
Freight Rail Transportation [Member] | ||||
Revenues: | ||||
Total revenues | 5,761 | 5,148 | 16,917 | 15,101 |
Costs and expenses: | ||||
Expenses | 3,527 | 3,161 | 10,625 | 9,625 |
Utilities and Energy [Member] | ||||
Revenues: | ||||
Insurance and other sales and service / Energy operating revenues | 5,225 | 4,451 | 14,375 | 11,504 |
Costs and expenses: | ||||
Cost of sales and other expenses | 3,497 | 3,101 | 10,306 | 8,326 |
Railroad, Utilities and Energy [Member] | ||||
Revenues: | ||||
Service revenues and other income | 1,788 | 1,776 | 4,647 | 3,888 |
Total revenues | 12,774 | 11,375 | 35,939 | 30,493 |
Costs and expenses: | ||||
Other expenses | 1,582 | 1,481 | 4,238 | 3,422 |
Interest expense | 770 | 737 | 2,322 | 2,209 |
Total costs and expenses | $ 9,376 | $ 8,480 | $ 27,491 | $ 23,582 |
Consolidated Statements of Ea_2
Consolidated Statements of Earnings (Parenthetical) | Sep. 30, 2021 |
Income Statement [Abstract] | |
Economic equivalent of Class B share to Class A share | 0.0667% |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Statement Of Income And Comprehensive Income [Abstract] | ||||
Net earnings | $ 10,644 | $ 30,413 | $ 50,909 | $ 7,123 |
Other comprehensive income: | ||||
Unrealized appreciation of investments | (89) | 19 | (164) | 42 |
Applicable income taxes | 20 | (4) | 38 | (13) |
Foreign currency translation | (643) | 791 | (616) | (77) |
Applicable income taxes | 6 | (3) | (8) | 34 |
Defined benefit pension plans | 54 | (24) | 158 | 86 |
Applicable income taxes | (13) | 8 | (42) | (14) |
Other, net | 38 | 16 | 45 | (19) |
Other comprehensive income, net | (627) | 803 | (589) | 39 |
Comprehensive income | 10,017 | 31,216 | 50,320 | 7,162 |
Comprehensive income attributable to noncontrolling interests | 288 | 302 | 762 | 423 |
Comprehensive income attributable to Berkshire Hathaway shareholders | $ 9,729 | $ 30,914 | $ 49,558 | $ 6,739 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Millions | Total | Cumulative Effect, Period of Adoption, Adjustment | Common stock and capital in excess of par value | Accumulated other comprehensive income | Retained earnings | Retained earningsCumulative Effect, Period of Adoption, Adjustment | Treasury Stock | Noncontrolling interests |
Beginning Balance at Dec. 31, 2019 | $ 428,563 | $ (388) | $ 35,666 | $ (5,243) | $ 402,493 | $ (388) | $ (8,125) | $ 3,772 |
Net earnings | $ (49,697) | (49,746) | 49 | |||||
Accounting Standards Update [Extensible Enumeration] | ASU 2016-13 [Member] | |||||||
Other comprehensive income, net | $ (1,531) | (1,478) | (53) | |||||
Acquisition of common stock | (1,575) | (1,575) | ||||||
Transactions with noncontrolling interests | (137) | (39) | (98) | |||||
Ending Balance at Mar. 31, 2020 | 375,235 | 35,627 | (6,721) | 352,359 | (9,700) | 3,670 | ||
Beginning Balance at Dec. 31, 2019 | 428,563 | $ (388) | 35,666 | (5,243) | 402,493 | $ (388) | (8,125) | 3,772 |
Net earnings | 7,123 | |||||||
Other comprehensive income, net | 39 | |||||||
Ending Balance at Sep. 30, 2020 | 419,215 | 35,629 | (5,190) | 408,791 | (24,075) | 4,060 | ||
Beginning Balance at Mar. 31, 2020 | 375,235 | 35,627 | (6,721) | 352,359 | (9,700) | 3,670 | ||
Net earnings | 26,407 | 26,295 | 112 | |||||
Other comprehensive income, net | 767 | 754 | 13 | |||||
Acquisition of common stock | (5,115) | (5,115) | ||||||
Transactions with noncontrolling interests | (41) | (4) | (37) | |||||
Ending Balance at Jun. 30, 2020 | 397,253 | 35,623 | (5,967) | 378,654 | (14,815) | 3,758 | ||
Net earnings | 30,413 | 30,137 | 276 | |||||
Other comprehensive income, net | 803 | 777 | 26 | |||||
Acquisition of common stock | (9,260) | (9,260) | ||||||
Transactions with noncontrolling interests | 6 | 6 | ||||||
Ending Balance at Sep. 30, 2020 | 419,215 | 35,629 | (5,190) | 408,791 | (24,075) | 4,060 | ||
Beginning Balance at Dec. 31, 2020 | 451,336 | 35,634 | (4,243) | 444,626 | (32,853) | 8,172 | ||
Net earnings | 11,840 | 11,711 | 129 | |||||
Other comprehensive income, net | (320) | (327) | 7 | |||||
Acquisition of common stock | (6,565) | (6,565) | ||||||
Transactions with noncontrolling interests | (115) | 4 | (119) | |||||
Ending Balance at Mar. 31, 2021 | 456,176 | 35,638 | (4,570) | 456,337 | (39,418) | 8,189 | ||
Beginning Balance at Dec. 31, 2020 | 451,336 | 35,634 | (4,243) | 444,626 | (32,853) | 8,172 | ||
Net earnings | 50,909 | |||||||
Other comprehensive income, net | (589) | |||||||
Ending Balance at Sep. 30, 2021 | 481,075 | 35,611 | (4,834) | 494,775 | (53,072) | 8,595 | ||
Beginning Balance at Mar. 31, 2021 | 456,176 | 35,638 | (4,570) | 456,337 | (39,418) | 8,189 | ||
Net earnings | 28,425 | 28,094 | 331 | |||||
Other comprehensive income, net | 358 | 351 | 7 | |||||
Acquisition of common stock | (6,028) | (6,028) | ||||||
Transactions with noncontrolling interests | (131) | 5 | (136) | |||||
Ending Balance at Jun. 30, 2021 | 478,800 | 35,643 | (4,219) | 484,431 | (45,446) | 8,391 | ||
Net earnings | 10,644 | 10,344 | 300 | |||||
Other comprehensive income, net | (627) | (615) | (12) | |||||
Acquisition of common stock | (7,626) | (7,626) | ||||||
Transactions with noncontrolling interests | (116) | (32) | (84) | |||||
Ending Balance at Sep. 30, 2021 | $ 481,075 | $ 35,611 | $ (4,834) | $ 494,775 | $ (53,072) | $ 8,595 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | ||
Cash flows from operating activities: | |||
Net earnings | $ 50,909 | $ 7,123 | |
Adjustments to reconcile net earnings to operating cash flows: | |||
Investment (gains) losses | (37,235) | (2,032) | |
Depreciation and amortization | 8,013 | 7,692 | |
Other, including asset impairment charges | (717) | 10,934 | |
Changes in operating assets and liabilities: | |||
Losses and loss adjustment expenses | 4,809 | 4,480 | |
Deferred charges reinsurance assumed | 709 | 735 | |
Unearned premiums | 3,958 | 2,544 | |
Receivables and originated loans | (6,810) | (3,223) | |
Other assets | (1,558) | (1,673) | |
Other liabilities | 1,928 | 2,446 | |
Income taxes | 7,620 | 201 | |
Net cash flows from operating activities | 31,626 | 29,227 | |
Cash flows from investing activities: | |||
Purchases of equity securities | (5,004) | (22,406) | |
Sales of equity securities | 11,975 | 28,564 | |
Purchases of U.S. Treasury Bills and fixed maturity securities | (106,399) | (153,897) | |
Sales of U.S. Treasury Bills and fixed maturity securities | 15,945 | 23,744 | |
Redemptions and maturities of U.S. Treasury Bills and fixed maturity securities | 103,294 | 81,252 | |
Purchases of loans and finance receivables | (70) | (619) | |
Collections of loans and finance receivables | 283 | 268 | |
Acquisitions of businesses, net of cash acquired | (204) | (111) | |
Purchases of property, plant and equipment and equipment held for lease | (9,244) | (9,516) | |
Other | 1,505 | (1,685) | |
Net cash flows from investing activities | 12,081 | (54,406) | |
Cash flows from financing activities: | |||
Changes in short term borrowings, net | (689) | (1,062) | |
Acquisition of treasury stock | (20,192) | (15,712) | |
Other | (755) | (196) | |
Net cash flows from financing activities | (21,364) | (11,676) | |
Effects of foreign currency exchange rate changes | (98) | (340) | |
Increase (decrease) in cash and cash equivalents and restricted cash | 22,245 | (37,195) | |
Cash and cash equivalents and restricted cash at beginning of year* | 48,396 | 64,632 | |
Cash and cash equivalents and restricted cash at end of third quarter* | 70,641 | 27,437 | |
Restricted cash, included in other assets at beginning of year | 406 | 457 | |
Restricted cash, included in other assets at end of third quarter | $ 652 | $ 620 | |
Restricted Cash and Cash Equivalents, Asset, Statement of Financial Position [Extensible List] | Other | Other | |
Insurance and Other [Member] | |||
Cash flows from financing activities: | |||
Proceeds from borrowings | $ 2,952 | $ 3,435 | |
Repayments of borrowings | (3,010) | (2,116) | |
Cash and cash equivalents at beginning of year | 44,714 | [1] | 61,151 |
Cash and cash equivalents at end of third quarter | 65,156 | [1] | 23,078 |
Railroad, Utilities and Energy [Member] | |||
Cash flows from financing activities: | |||
Proceeds from borrowings | 2,939 | 6,424 | |
Repayments of borrowings | (2,609) | (2,449) | |
Cash and cash equivalents at beginning of year | 3,276 | [1] | 3,024 |
Cash and cash equivalents at end of third quarter | $ 4,833 | [1] | $ 3,739 |
[1] | Includes U.S. Treasury Bills with maturities of three months or less when purchased of $37.9 billion at September 30, 2021 and $23.2 billion at December 31, 2020. |
General
General | 9 Months Ended |
Sep. 30, 2021 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
General | Note 1. General The accompanying unaudited Consolidated Financial Statements include the accounts of Berkshire Hathaway Inc. (“Berkshire” or “Company”) consolidated with the accounts of all its subsidiaries and affiliates in which Berkshire holds controlling financial interests as of the financial statement date. In these notes, the terms “us,” “we” or “our” refer to Berkshire and its consolidated subsidiaries. Reference is made to Berkshire’s most recently issued Annual Report on Form 10-K (“Annual Report”), which includes information necessary or useful to understanding Berkshire’s businesses and financial statement presentations. Our significant accounting policies and practices were presented as Note 1 to the Consolidated Financial Statements included in the Annual Report. Financial information in this Quarterly Report reflects all adjustments (consisting only of normal recurring adjustments) that are, in the opinion of management, necessary to a fair statement of results for the interim periods in accordance with accounting principles generally accepted in the United States (“GAAP”). For a number of reasons, our results for interim periods are not normally indicative of results to be expected for the year. The timing and magnitude of catastrophe losses incurred by insurance subsidiaries and the estimation error inherent to the process of determining liabilities for unpaid losses of insurance subsidiaries can be more significant to results of interim periods than to results for a full year. Given the size of our equity security investment portfolio, changes in market prices and the related changes in unrealized gains and losses on equity securities will produce significant volatility in our interim and annual earnings. In addition, changes in the fair values of certain derivative contract liabilities, gains and losses from the periodic revaluation of certain assets and liabilities denominated in foreign currencies and the magnitude of asset impairment charges can cause significant variations in periodic net earnings. The novel coronavirus (“COVID-19”) spread rapidly across the world in 2020 and was declared a pandemic by the World Health Organization. The government and private sector responses to contain its spread began to significantly affect our operating businesses in March of 2020. The COVID-19 pandemic adversely affected nearly all of our operations during 2020 and in particular during the second quarter, although the effects varied significantly. Beginning in the third quarter of 2020, many of our businesses experienced significantly higher sales and earnings relative to the second quarter, reflecting higher customer demand. The extent of the effects over longer terms cannot be reasonably estimated at this time. Risks and uncertainties resulting from the pandemic that may affect our future earnings, cash flows and financial condition include the ability to vaccinate a significant number of people in the U.S. and throughout the world, as well as the long-term effect from the pandemic on the demand for certain of our products and services. Accordingly, significant estimates used in the preparation of our financial statements, including those associated with evaluations of certain long-lived assets, goodwill and other intangible assets for impairment, expected credit losses on amounts owed to us and the estimations of certain losses assumed under insurance and reinsurance contracts, may be subject to significant adjustments in future periods. |
New accounting pronouncements
New accounting pronouncements | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Changes And Error Corrections [Abstract] | |
New accounting pronouncements | Note 2. New accounting pronouncements We adopted Accounting Standards Codification (“ASC”) 326 “Financial Instruments-Credit Losses” on January 1, 2020. ASC 326 provides for the measurement of expected credit losses on financial assets that are carried at amortized cost based on the net amounts expected to be collected. Measurements of expected credit losses include provisions for non-collection, whether the risk is probable or remote. Prior to the adoption of ASC 326, credit losses were measured when non-collection was considered probable based on the prevailing facts and circumstances. Upon adoption of ASC 326, we recorded a charge to retained earnings of $388 million representing the cumulative after-tax increase in our allowances for credit losses, which was primarily related to our manufactured housing loans. In August 2018, the FASB issued ASU 2018-12 “Targeted Improvements to the Accounting for Long-Duration Contracts.” ASU 2018-12 requires periodic reassessment of actuarial and discount rate assumptions used to value policyholder liabilities and deferred acquisition costs of long-duration insurance and reinsurance contracts, with the effects of changes in cash flow assumptions reflected in earnings and the effects of changes in discount rate assumptions reflected in other comprehensive income. Currently, the actuarial and discount rate assumptions are established at the contract inception date and not subsequently changed, except under limited circumstances. ASU 2018-12 requires new disclosures and is effective for fiscal years beginning after December 15, 2022, with early adoption permitted. We are evaluating the effect this standard will have on our Consolidated Financial Statements. |
Investments in fixed maturity s
Investments in fixed maturity securities | 9 Months Ended |
Sep. 30, 2021 | |
Investments Debt And Equity Securities [Abstract] | |
Investments in fixed maturity securities | Notes to Consolidated Financial Statements (Continued) Note 3. Investments in fixed maturity securities Investments in fixed maturity securities as of September 30, 2021 and December 31, 2020 are summarized as follows (in millions). Amortized Cost Unrealized Gains Unrealized Losses Fair Value September 30, 2021 U.S. Treasury, U.S. government corporations and agencies $ 3,358 $ 30 $ — $ 3,388 Foreign governments 12,407 38 (27 ) 12,418 Corporate bonds 1,510 431 — 1,941 Other 327 52 (1 ) 378 $ 17,602 $ 551 $ (28 ) $ 18,125 December 31, 2020 U.S. Treasury, U.S. government corporations and agencies $ 3,348 $ 55 $ — $ 3,403 Foreign governments 11,233 110 (5 ) 11,338 Corporate bonds 4,729 464 (2 ) 5,191 Other 414 66 (2 ) 478 $ 19,724 $ 695 $ (9 ) $ 20,410 Investments in foreign governments include securities issued by national and provincial government entities as well as instruments that are unconditionally guaranteed by such entities. As of September 30, 2021, approximately 90% of our foreign government holdings were rated AA or higher by at least one of the major rating agencies. The amortized cost and estimated fair value of fixed maturity securities as of September 30, 2021 are summarized below by contractual maturity dates (in millions). Actual maturities may differ from contractual maturities due to early call or prepayment rights held by issuers. Due in one year or less Due after one year through five years Due after five years through ten years Due after ten years Mortgage- backed securities Total Amortized cost $ 9,433 $ 7,225 $ 487 $ 206 $ 251 $ 17,602 Fair value 9,436 7,283 758 350 298 18,125 |
Investments in equity securitie
Investments in equity securities | 9 Months Ended |
Sep. 30, 2021 | |
Investments Debt And Equity Securities [Abstract] | |
Investments in equity securities | Note 4. Investments in equity securities Investments in equity securities as of September 30, 2021 and December 31, 2020 are summarized as follows (in millions). Cost Basis Net Unrealized Gains Fair Value September 30, 2021* Banks, insurance and finance $ 26,809 $ 60,931 $ 87,740 Consumer products 34,973 119,421 154,394 Commercial, industrial and other 42,406 26,199 68,605 $ 104,188 $ 206,551 $ 310,739 * Approximately 70% of the aggregate fair value was concentrated in four companies (American Express Company – $25.4 billion; Apple Inc. – $128.4 billion; Bank of America Corporation – $43.9 billion and The Coca-Cola Company – $21.0 billion). Cost Basis Net Unrealized Gains Fair Value December 31, 2020* Banks, insurance and finance $ 26,312 $ 40,167 $ 66,479 Consumer products 34,747 111,583 146,330 Commercial, industrial and other 47,561 20,800 68,361 $ 108,620 $ 172,550 $ 281,170 * Approximately 68% of the aggregate fair value was concentrated in four companies (American Express Company – $18.3 billion; Apple Inc. – $120.4 billion; Bank of America Corporation – $31.3 billion and The Coca-Cola Company – $21.9 billion). Notes to Consolidated Financial Statements (Continued) Note 4. Investments in equity securities (Continued) Our equity security investments also include Occidental Corporation (“Occidental”) Cumulative Perpetual Preferred Stock with an aggregate liquidation value of $10 billion and warrants to purchase up to 83.86 million shares of Occidental common stock at an exercise price of $59.62 per share. The preferred stock accrues dividends at 8% per annum and is redeemable at the option of Occidental commencing in 2029 at a redemption price equal to 105% of the liquidation preference, plus any accumulated and unpaid dividends, or is mandatorily redeemable under specified events. Dividends on the preferred stock are payable in cash or, at Occidental’s option, in shares of Occidental common stock. The warrants are exercisable in whole or in part until one year after the redemption of the preferred stock. |
Equity method investments
Equity method investments | 9 Months Ended |
Sep. 30, 2021 | |
Equity Method Investments And Joint Ventures [Abstract] | |
Equity method investments | Note 5. Equity method investments Berkshire and its subsidiaries hold investments in certain businesses that are accounted for pursuant to the equity method. Currently, the most significant of these is our investment in the common stock of The Kraft Heinz Company (“Kraft Heinz”). Kraft Heinz is one of the world’s largest manufacturers and marketers of food and beverage products, including condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee and other grocery products. Berkshire currently owns 325,442,152 shares of Kraft Heinz common stock representing 26.5% of the outstanding shares. Our investment in Kraft Heinz produced equity method earnings of $194 million in the third quarter and $337 million in the first nine months of 2021. In 2020, our Kraft Heinz investment generated equity method earnings of $159 million in the third quarter and losses of $180 million in the first nine months. Our earnings in the first nine months of 2020 included charges of approximately $850 million for our proportionate share of the goodwill and intangible asset impairment charges recorded by Kraft Heinz. We received dividends on the common stock of $391 million in each of the first nine months of 2021 and 2020, which were recorded as reductions to the carrying value of our investment. Shares of Kraft Heinz common stock are publicly-traded and the fair value of our investment was approximately $12.0 billion at September 30, 2021 and $11.3 billion at December 31, 2020. The carrying value of our investment was approximately $13.3 Summarized consolidated financial information of Kraft Heinz follows (in millions). September 25, 2021 December 26, 2020 Assets $ 94,897 $ 99,830 Liabilities 44,659 49,587 Third Quarter First Nine Months 2021 2020 2021 2020 Sales $ 6,324 $ 6,441 $ 19,333 $ 19,246 Net earnings (loss) attributable to Kraft Heinz common shareholders 733 597 1,269 (676 ) * * Includes goodwill and identifiable intangible asset impairment charges of approximately $3.2 billion in the first nine months. Other investments that we account for pursuant to the equity method include Berkadia Commercial Mortgage LLC (“Berkadia”), Pilot Travel Centers LLC (“Pilot”) and Electric Transmission Texas, LLC (“ETT”). The aggregate carrying value of these investments was approximately $3.4 billion as of September 30, 2021 and $4.0 billion as of December 31, 2020. Our equity method earnings from these entities in the first nine months were $438 million in 2021 and $513 million in 2020. During the first nine months of 2021, we received distributions of $1.0 billion from these other investees, including a non-recurring distribution received from Pilot of $849 million in the first quarter. Additional information concerning these investments follows. We own a 50% interest in Berkadia, with Jefferies Financial Group Inc. (“Jefferies”) owning the other 50% interest. Berkadia provides capital solutions, investments sales advisory and mortgage servicing for multifamily and commercial real estate. A source of funding for Berkadia’s operations is through commercial paper, which was $1.47 billion at September 30, 2021 and is limited to $1.5 billion. Berkadia’s commercial paper is supported by a surety policy issued by a Berkshire insurance subsidiary. Jefferies is obligated to indemnify us for one-half Notes to Consolidated Financial Statements (Continued) Note 5. Equity method investments (Continued) A Berkshire Hathaway Energy Company subsidiary owns a 50% interest in ETT, an owner and operator of electric transmission assets in the Electric Reliability Council of Texas footprint. American Electric Power owns the other 50% interest. We own a 38.6% interest in Pilot, headquartered in Knoxville, Tennessee. Pilot is the largest operator of travel centers in North America through more than 1,000 retail locations across 44 U.S. states and six Canadian provinces and through wholesale distribution. The Haslam family currently owns a 50.1% interest in Pilot and a third party owns the remaining 11.3% interest. We also entered into an agreement to acquire an additional 41.4% interest in Pilot in 2023, with the Haslam family retaining a 20% interest. As a result, Berkshire will become the majority owner of Pilot in 2023. |
Investment and derivative contr
Investment and derivative contract gains/losses | 9 Months Ended |
Sep. 30, 2021 | |
Investments Debt And Equity Securities [Abstract] | |
Investment and derivative contract gains/losses | Note 6. Investment and derivative contract gains/losses Investment and derivative contract gains/losses in the third quarter and first nine months of 2021 and 2020 are summarized as follows (in millions). Third Quarter First Nine Months 2021 2020 2021 2020 Investment gains (losses): Equity securities: Change in unrealized investment gains (losses) during the period on securities held at the end of the period $ 4,759 $ 30,837 $ 36,163 $ 16,458 Investment gains (losses) on securities sold during the period 75 1,330 889 (13,901 ) 4,834 32,167 37,052 2,557 Fixed maturity securities: Gross realized gains 24 12 59 53 Gross realized losses (7 ) (2 ) (20 ) (22 ) Other — (552 ) 144 (556 ) Investment gains (losses) 4,851 31,625 37,235 2,032 Derivative contract gains (losses) 70 (43 ) 780 (640 ) $ 4,921 $ 31,582 $ 38,015 $ 1,392 Equity securities gains and losses include unrealized gains and losses from changes in fair values during the period on equity securities we still own, as well as gains and losses on securities we sold during the period. As reflected in the Consolidated Statements of Cash Flows, we received proceeds from sales of equity securities of approximately $12.0 billion in the first nine months of 2021 and $28.6 billion in the first nine months of 2020. In the preceding table, investment gains and losses on equity securities sold during the period represent the difference between the sales proceeds and the fair value of the equity securities sold at the beginning of the applicable period or, if later, the purchase date. Our taxable gains/losses on equity securities sold are generally the difference between the proceeds from sales and original cost. Taxable gains in the third quarter and first nine months of 2021 were $941 million and $2.9 billion, respectively, and were $3.9 billion and $666 million in the third quarter and first nine months of 2020, respectively. The derivative contract gains and losses derive from equity index put option contracts written prior to March 2008 on four major equity indexes. Information related to these contracts follows (dollars in millions). September 30, 2021 December 31, 2020 Balance sheet liabilities - at fair value $ 286 $ 1,065 Notional value 8,251 10,991 Intrinsic value 83 727 Weighted average remaining life (in years) 0.6 1.2 Notional value in the preceding table represents the aggregate undiscounted amounts payable assuming the value of each index is zero at each contract’s expiration date. Intrinsic value is the undiscounted liability assuming the contracts are settled based on the index values and foreign currency exchange rates as of the balance sheet date. Substantially all open contracts as of September 30, 2021 will expire by February 2023. Future payments, if any, under any given contract will be required if the index value is below the contract strike price at the contract expiration date. We received aggregate premiums on the contract inception dates of $1.5 billion with respect to unexpired contracts as of September 30, 2021 and we have no counterparty credit risk. |
Loans and finance receivables
Loans and finance receivables | 9 Months Ended |
Sep. 30, 2021 | |
Receivables [Abstract] | |
Loans and finance receivables | Notes to Consolidated Financial Statements (Continued) Note 7. Loans and finance receivables Loans and finance receivables are summarized as follows (in millions). September 30, 2021 December 31, 2020 Loans and finance receivables before allowances and discounts $ 21,685 $ 20,436 Allowances for uncollectible loans (744 ) (712 ) Unamortized acquisition discounts and points (544 ) (523 ) $ 20,397 $ 19,201 Loans and finance receivables are principally manufactured home loans, and to a lesser extent, commercial loans and site-built home loans. Reconciliations of the allowance for credit losses on loans and finance receivables for each of the first nine months of 2021 and 2020 follow (in millions). 2021 2020 Balance at beginning of year $ 712 $ 167 Adoption of ASC 326 — 486 Provision for credit losses 65 177 Charge-offs, net of recoveries (33 ) (99 ) Balance at September 30 $ 744 $ 731 As of September 30, 2021, approximately 99% of home loan balances were evaluated collectively for impairment. As of September 30, 2021, we considered approximately 97% of the loan balances to be current as to payment status. A summary of performing and non-performing home loans before discounts and allowances by year of loan origination as of September 30, 2021 follows (in millions). Origination Year 2021 2020 2019 2018 2017 Prior Total Performing $ 3,794 $ 3,264 $ 2,308 $ 1,748 $ 1,300 $ 7,126 $ 19,540 Non-performing 2 3 6 6 5 40 62 $ 3,796 $ 3,267 $ 2,314 $ 1,754 $ 1,305 $ 7,166 $ 19,602 We are party to an agreement with Seritage Growth Properties to provide a $2.0 billion term loan facility, which expires on July 31, 2023. The outstanding loan under the facility was approximately $1.6 billion at September 30, 2021 and December 31, 2020, and is secured by mortgages on real estate properties. In the first quarter of 2020, we provided a loan to Lee Enterprises, Inc. in connection with its acquisition of our newspaper operations and the repayment of its then outstanding credit facilities. The loan balance was $483 million as of September 30, 2021 and $524 million at December 31, 2020. We are the sole lender to each of these entities and each of these loans is current as to payment status. |
Other receivables
Other receivables | 9 Months Ended |
Sep. 30, 2021 | |
Receivables [Abstract] | |
Other receivables | Note 8. Other receivables Other receivables are comprised of the following (in millions). September 30, 2021 December 31, 2020 Insurance and other: Insurance premiums receivable $ 16,151 $ 14,025 Reinsurance recoverables 4,892 4,805 Trade receivables 13,579 11,521 Other 3,344 2,637 Allowances for uncollectible accounts (689 ) (678 ) $ 37,277 $ 32,310 Railroad, utilities and energy: Trade receivables $ 3,780 $ 3,235 Other 720 438 Allowances for uncollectible accounts (176 ) (131 ) $ 4,324 $ 3,542 Notes to Consolidated Financial Statements (Continued) Note 8. Other receivables (Continued) Provisions for credit losses in the first nine months with respect to receivables summarized above were $335 million in 2021 and $449 million in 2020. Charge-offs, net of recoveries, in the first nine months were $279 million in 2021 and $238 million in 2020. |
Inventories
Inventories | 9 Months Ended |
Sep. 30, 2021 | |
Inventory Disclosure [Abstract] | |
Inventories | Note 9. Inventories Inventories are comprised of the following (in millions). September 30, 2021 December 31, 2020 Raw materials $ 5,389 $ 4,821 Work in process and other 3,290 2,541 Finished manufactured goods 4,446 4,412 Goods acquired for resale 7,066 7,434 $ 20,191 $ 19,208 |
Property, plant and equipment i
Property, plant and equipment including equipment held for lease | 9 Months Ended |
Sep. 30, 2021 | |
Property, plant and equipment including equipment held for lease | Note 10. Property, plant and equipment A summary of property, plant and equipment of our insurance and other businesses follows (in millions). September 30, 2021 December 31, 2020 Land, buildings and improvements $ 13,846 $ 13,799 Machinery and equipment 25,849 25,488 Furniture, fixtures and other 4,670 4,530 44,365 43,817 Accumulated depreciation (23,643 ) (22,617 ) $ 20,722 $ 21,200 A summary of property, plant and equipment of railroad and utilities and energy businesses follows (in millions). The utility generation, transmission and distribution systems and interstate natural gas pipeline assets are owned by regulated public utility and natural gas pipeline subsidiaries. September 30, 2021 December 31, 2020 Railroad: Land, track structure and other roadway $ 65,167 $ 63,824 Locomotives, freight cars and other equipment 13,784 13,523 Construction in progress 1,030 916 79,981 78,263 Accumulated depreciation (14,641 ) (13,175 ) 65,340 65,088 Utilities and energy: Utility generation, transmission and distribution systems 89,026 86,730 Interstate natural gas pipeline assets 17,044 16,667 Independent power plants and other assets 13,009 12,671 Construction in progress 4,343 3,308 123,422 119,376 Accumulated depreciation (35,361 ) (33,248 ) 88,061 86,128 $ 153,401 $ 151,216 Depreciation expense for the first nine months of 2021 and 2020 is summarized below (in millions). First Nine Months 2021 2020 Insurance and other $ 1,725 $ 1,725 Railroad, utilities and energy 4,485 4,105 $ 6,210 $ 5,830 |
Equipment held for lease [Member] | |
Property, plant and equipment including equipment held for lease | Notes to Consolidated Financial Statements (Continued) Note 11. Equipment held for lease Equipment held for lease includes railcars, aircraft, over-the-road trailers, intermodal tank containers, cranes, storage units and furniture. A summary of equipment held for lease follows (in millions). September 30, 2021 December 31, 2020 Railcars $ 9,482 $ 9,402 Aircraft 8,852 8,204 Other 5,031 4,868 23,365 22,474 Accumulated depreciation (8,613 ) (7,873 ) $ 14,752 $ 14,601 Depreciation expense for equipment held for lease in the first nine months was $861 million in 2021 and $900 million in 2020. Fixed and variable Third Quarter First Nine Months 2021 2020 2021 2020 Fixed lease revenue $ 1,151 $ 1,047 $ 3,318 $ 3,205 Variable lease revenue 414 269 1,018 700 $ 1,565 $ 1,316 $ 4,336 $ 3,905 |
Goodwill and other intangible a
Goodwill and other intangible assets | 9 Months Ended |
Sep. 30, 2021 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Goodwill and other intangible assets | Note 12. Goodwill and other intangible assets Reconciliations of the changes in the carrying value of goodwill for the first nine months of 2021 and for the year ended December 31, 2020 follow (in millions). September 30, 2021 December 31, 2020 Balance at beginning of year $ 73,734 $ 81,882 Acquisitions of businesses 182 1,758 Impairment charges — (10,033 ) Other, including foreign currency translation (146 ) 127 Balance at end of period* $ 73,770 $ 73,734 * Net of accumulated goodwill impairments of $11.0 billion as of September 30, 2021 and December 31, 2020. Other intangible assets and related accumulated amortization are summarized as follows (in millions). September 30, 2021 December 31, 2020 Gross carrying amount Accumulated amortization Gross carrying amount Accumulated amortization Insurance and other: Customer relationships $ 27,331 $ 6,281 $ 27,374 $ 5,756 Trademarks and trade names 5,178 797 5,206 779 Patents and technology 4,763 3,442 4,766 3,313 Other 3,317 1,426 3,339 1,375 $ 40,589 $ 11,946 $ 40,685 $ 11,223 Railroad, utilities and energy: Customer relationships $ 678 $ 388 $ 678 $ 361 Trademarks, trade names and other 1,005 133 1,003 98 $ 1,683 $ 521 $ 1,681 $ 459 Notes to Consolidated Financial Statements (Continued) Note 12. Goodwill and other intangible assets (Continued) Intangible asset amortization expense in the first nine months was $942 million in 2021 and $962 million in 2020. Intangible assets with indefinite lives were $18.3 billion as of September 30, 2021 and December 31, 2020 and primarily related to certain customer relationships and trademarks and trade names. During 2020, we concluded it was necessary to reevaluate goodwill and indefinite-lived intangible assets of certain of our reporting units for impairment due to the disruptions arising from the COVID-19 pandemic. We recorded pre-tax goodwill impairment charges of approximately $10 billion and pre-tax indefinite-lived intangible asset impairment charges of $638 million in the second quarter of 2020. Approximately $10 billion of these charges related to Precision Castparts Corp. (“PCC”), the largest business within Berkshire's manufacturing segment. The carrying value of PCC-related goodwill and indefinite-lived intangible assets prior to the impairment charges was approximately $31 billion. |
Unpaid losses and loss adjustme
Unpaid losses and loss adjustment expenses | 9 Months Ended |
Sep. 30, 2021 | |
Insurance [Abstract] | |
Unpaid losses and loss adjustment expenses | Note 13. Unpaid losses and loss adjustment expenses Our liabilities for unpaid losses and loss adjustment expenses (also referred to as “claim liabilities”) under property and casualty insurance and reinsurance contracts are based upon estimates of the ultimate claim costs associated with claim occurrences as of the balance sheet date and include estimates for incurred-but-not-reported (“IBNR”) claims. A reconciliation of the changes in claim liabilities, excluding liabilities under retroactive reinsurance contracts (see Note 14), for each of the nine-month periods ending September 30, 2021 and 2020 follows (in millions). 2021 2020 Balances at beginning of year: Gross liabilities $ 79,854 $ 73,019 Reinsurance recoverable on unpaid losses (2,912 ) (2,855 ) Net liabilities 76,942 70,164 Incurred losses and loss adjustment expenses: Current accident year events 38,447 31,777 Prior accident years’ events (2,151 ) 69 Total 36,296 31,846 Paid losses and loss adjustment expenses: Current accident year events (15,277 ) (11,691 ) Prior accident years’ events (15,076 ) (15,259 ) Total (30,353 ) (26,950 ) Foreign currency translation adjustment (119 ) 124 Balances at September 30: Net liabilities 82,766 75,184 Reinsurance recoverable on unpaid losses 2,988 2,857 Gross liabilities $ 85,754 $ 78,041 Incurred losses and loss adjustment expenses shown in the preceding table were recorded in earnings and related to insured events occurring in the current year (“current accident year”) and events occurring in all prior years (“prior accident years”). Current accident year incurred losses in 2021 included approximately $2.7 billion from significant catastrophe events (losses in excess of $100 million per event) in the U.S. and Europe, including approximately $2.2 billion in the third quarter, primarily from Hurricane Ida and floods in Europe. We recorded a net reduction of estimated ultimate liabilities for prior accident years of $2.2 billion in the first nine months of 2021 compared to a net increase of $69 million in 2020, which produced a corresponding decrease in 2021 and an increase in 2020 in incurred losses and loss adjustment expenses. These amounts represented 2.8% in 2021 and 0.1% in 2020 of the net liabilities at the beginning of each year. Estimated ultimate liabilities for prior years’ loss events with respect to primary insurance were reduced $1.6 billion in the first nine months of 2021 compared to $273 million in 2020. The reduction in 2021 derived primarily from private passenger automobile claims, and to a lesser extent medical professional liability and workers’ compensation claims. Estimated ultimate liabilities for prior years’ loss events related to reinsurance assumed in the first nine months decreased $564 million in 2021 and increased $342 million in 2020, which included increased provisions for legacy casualty exposures. |
Retroactive reinsurance contrac
Retroactive reinsurance contracts | 9 Months Ended |
Sep. 30, 2021 | |
Insurance [Abstract] | |
Retroactive reinsurance contracts | Notes to Consolidated Financial Statements (Continued) Note 14. Retroactive reinsurance contracts Retroactive reinsurance policies provide indemnification of losses and loss adjustment expenses of short-duration insurance contracts with respect to underlying loss events that occurred prior to the contract inception date. Claims payments may commence immediately after the contract date or, when applicable, once a contractual retention amount has been reached. Reconciliations of the changes in estimated liabilities for retroactive reinsurance unpaid losses and loss adjustment expenses (“claim liabilities”) and related deferred charges reinsurance assumed for each of the nine-month periods ending September 30, 2021 and 2020 follow (in millions). 2021 2020 Unpaid losses and loss adjustment expenses Deferred charges reinsurance assumed Unpaid losses and loss adjustment expenses Deferred charges reinsurance assumed Balances at beginning of year $ 40,966 $ (12,441 ) $ 42,441 $ (13,747 ) Incurred losses and loss adjustment expenses: Current year contracts 82 — — — Prior years’ contracts (9 ) 709 131 735 Total 73 709 131 735 Paid losses and loss adjustment expenses (1,318 ) — (786 ) — Balances at September 30 $ 39,721 $ (11,732 ) $ 41,786 $ (13,012 ) Incurred losses and loss adjustment expenses, net of deferred charges $ 782 $ 866 In the preceding table, classifications of incurred losses and loss adjustment expenses are based on the inception dates of the contracts, which reflect when our exposure to losses begins. Incurred losses and loss adjustment expenses for prior years’ contracts were $700 million in 2021 and $866 million in 2020, which consisted of recurring amortization of deferred charges and the effects of changes in the expected timing and amount of future loss payments. Berkshire’s subsidiary, National Indemnity Company (“NICO”), is party to a contract with certain subsidiaries of American International Group, Inc. (collectively, “AIG”), in which NICO’s ultimate liability is contractually limited to $20 billion. Claim payments to AIG commenced in 2021. Our estimated unpaid claim liabilities with regard to the AIG contract were approximately $16.8 billion at September 30, 2021, reflecting paid claims of $837 million during the first nine months of 2021, and $17.7 billion at December 31, 2020. Deferred charges related to the AIG contract were approximately $5.0 billion at September 30, 2021 and $5.4 billion at December 31, 2020. |
Notes payable and other borrowi
Notes payable and other borrowings | 9 Months Ended |
Sep. 30, 2021 | |
Debt Disclosure [Abstract] | |
Notes payable and other borrowings | Note 15. Notes payable and other borrowings Notes payable and other borrowings are summarized below (in millions). The weighted average interest rates and maturity date ranges shown in the following tables are based on borrowings as of September 30, 2021. Weighted Average Interest Rate September 30, 2021 December 31, 2020 Insurance and other: Berkshire Hathaway Inc. (“Berkshire”): U.S. Dollar denominated due 2022-2047 3.3 % $ 6,817 $ 8,308 Euro denominated due 2023-2041 1.0 % 7,934 8,326 Japanese Yen denominated due 2023-2060 0.6 % 7,028 6,031 Berkshire Hathaway Finance Corporation (“BHFC”): U.S. Dollar denominated due 2022-2051 3.6 % 10,757 10,766 Great Britain Pound denominated due 2039-2059 2.5 % 2,315 2,347 Other subsidiary borrowings due 2021-2045 4.1 % 4,497 4,682 Subsidiary short-term borrowings 2.8 % 297 1,062 $ 39,645 $ 41,522 Notes to Consolidated Financial Statements (Continued) Note 15. Notes payable and other borrowings (Continued) In the first nine months of 2021, Berkshire repaid €550 million and $1.5 billion of maturing senior notes. In January 2021, Berkshire issued €600 million of 0.5% senior notes due in 2041. In April 2021, Berkshire issued ¥160 billion (approximately $1.5 billion) of senior notes with maturity dates ranging from 2026 to 2041 and a weighted average interest rate of 0.5%. Borrowings of BHFC, a wholly owned finance subsidiary of Berkshire, consist of senior unsecured notes used to fund manufactured housing loans originated or acquired and equipment held for lease of certain subsidiaries. BHFC borrowings are fully and unconditionally guaranteed by Berkshire. In January 2021, BHFC repaid $750 million of maturing senior notes and issued $750 million of 2.5% senior notes due in 2051. The carrying values of Berkshire and BHFC non-U.S. Dollar denominated senior notes (€6.9 billion, £1.75 billion and ¥785.5 billion par at September 30, 2021) reflect the applicable exchange rates as of the balance sheet dates. The effects of changes in foreign currency exchange rates during the period are recorded in earnings as a component of selling, general and administrative expenses. Changes in the exchange rates resulted in pre-tax gains of $264 million in the third quarter and $939 million in the first nine months of 2021. In 2020, exchange rate changes produced pre-tax losses of $549 million in the third quarter and $447 million in the first nine months. In addition to BHFC borrowings, Berkshire guaranteed approximately $3.9 billion of other subsidiary borrowings at September 30, 2021. Generally, Berkshire’s guarantee of a subsidiary’s debt obligation is an absolute, unconditional and irrevocable guarantee for the full and prompt payment when due of all payment obligations. Weighted Average Interest Rate September 30, 2021 December 31, 2020 Railroad, utilities and energy: Berkshire Hathaway Energy Company (“BHE”) and subsidiaries: BHE senior unsecured debt due 2023-2051 4.3 % $ 13,001 $ 13,447 Subsidiary and other debt due 2021-2064 4.1 % 37,096 36,420 Short-term borrowings 1.6 % 1,968 2,286 Burlington Northern Santa Fe ("BNSF") and subsidiaries due 2021-2097 4.5 % 23,255 23,220 $ 75,320 $ 75,373 BHE subsidiary debt represents amounts issued pursuant to separate financing agreements. Substantially all of the assets of certain BHE subsidiaries are, or may be, pledged or encumbered to support or otherwise secure such debt. These borrowing arrangements generally contain various covenants, which pertain to leverage ratios, interest coverage ratios and/or debt service coverage ratios. In the first nine months of 2021, BHE and its subsidiaries repaid $1.7 billion of term debt and issued $2.1 billion of term debt with a weighted average interest rate of 3.0% and maturities ranging from 2051 to 2052. BNSF’s borrowings are primarily senior unsecured debentures. During the first nine months of 2021, BNSF repaid $888 million of debt and issued $925 million of 3.3% term debt due in 2051. As of September 30, 2021, BNSF, BHE and their subsidiaries were in compliance with all applicable debt covenants. Berkshire does not guarantee any debt, borrowings or lines of credit of BNSF, BHE or their subsidiaries. As of September 30, 2021, our subsidiaries had unused lines of credit and commercial paper capacity aggregating approximately $10.5 billion to support short-term borrowing programs and provide additional liquidity. Such unused lines of credit included approximately $8.8 billion related to BHE and its subsidiaries. |
Fair value measurements
Fair value measurements | 9 Months Ended |
Sep. 30, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair value measurements | Notes to Consolidated Financial Statements (Continued) Note 16. Fair value measurements Our financial assets and liabilities are summarized below as of September 30, 2021 and December 31, 2020, with fair values shown according to the fair value hierarchy (in millions). The carrying values of cash and cash equivalents, U.S. Treasury Bills, other receivables and accounts payable, accruals and other liabilities are considered to be reasonable estimates of their fair values. Carrying Value Fair Value Quoted Prices (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) September 30, 2021 Investments in fixed maturity securities: U.S. Treasury, U.S. government corporations and agencies $ 3,388 $ 3,388 $ 3,345 $ 43 $ — Foreign governments 12,418 12,418 11,074 1,344 — Corporate bonds 1,941 1,941 — 1,941 — Other 378 378 — 378 — Investments in equity securities 310,739 310,739 298,633 8 12,098 Investment in Kraft Heinz common stock 13,290 11,983 11,983 — — Loans and finance receivables 20,397 21,743 — 2,391 19,352 Derivative contract assets (1) 540 540 15 407 118 Derivative contract liabilities: Railroad, utilities and energy (1) 130 130 3 69 58 Equity index put options 286 286 — — 286 Notes payable and other borrowings: Insurance and other 39,645 42,851 — 42,810 41 Railroad, utilities and energy 75,320 87,965 — 87,965 — December 31, 2020 Investments in fixed maturity securities: U.S. Treasury, U.S. government corporations and agencies $ 3,403 $ 3,403 $ 3,358 $ 45 $ — Foreign governments 11,338 11,338 9,259 2,079 — Corporate bonds 5,191 5,191 — 5,191 — Other 478 478 — 478 — Investments in equity securities 281,170 281,170 271,848 38 9,284 Investment in Kraft Heinz common stock 13,336 11,280 11,280 — — Loans and finance receivables 19,201 20,554 — 2,692 17,862 Derivative contract assets (1) 270 270 1 72 197 Derivative contract liabilities: Railroad, utilities and energy (1) 121 121 6 96 19 Equity index put options 1,065 1,065 — — 1,065 Notes payable and other borrowings: Insurance and other 41,522 46,676 — 46,665 11 Railroad, utilities and energy 75,373 92,593 — 92,593 — (1) Notes to Consolidated Financial Statements (Continued) Note 16. Fair value measurements (Continued) The fair values of substantially all of our financial instruments were measured using market or income approaches. The hierarchy for measuring fair value consists of Levels 1 through 3, which are described below. Level 1 Level 2 Level 3 Reconciliations of significant assets and liabilities measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) for the nine months ended September 30, 2021 and 2020 follow (in millions). Balance at beginning of year Gains (losses) included in earnings Acquisitions, dispositions and settlements Balance at September 30 Investments in equity securities: 2021 $ 8,978 $ 1,713 $ 1,100 $ 11,791 2020 10,405 (2,235 ) (1 ) 8,169 Equity index put option contract liabilities: 2021 (1,065 ) 780 (1 ) (286 ) 2020 (968 ) (640 ) 61 (1,547 ) Quantitative information as of September 30, 2021 with respect to significant assets and liabilities measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) follows (dollars in millions). Fair Value Principal Valuation Techniques Unobservable Inputs Weighted Average Investments in equity securities: Preferred stock $ 11,179 Discounted cash flow Expected duration 7 years Discount for transferability restrictions and subordination 355 basis points Common stock warrants 612 Warrant pricing model Expected duration 8 years Volatility 37% Equity index put option contract liabilities 286 Option pricing model Volatility 18% Investments in equity securities in the preceding table include our investments in certain preferred stocks and common stock warrants that do not have readily determinable market values as defined under GAAP. These investments are subject to contractual restrictions on transferability and may contain provisions that prevent us from economically hedging our investments. We applied discounted cash flow techniques in valuing the preferred stock and we made assumptions regarding the expected duration of the investment and the effects of subordination in liquidation. In valuing the common stock warrants, we used a warrant valuation model. While most of the inputs to the model are observable, we made assumptions regarding the expected duration and volatility of the warrants. Notes to Consolidated Financial Statements (Continued) Note 16. Fair value measurements (Continued) Our equity index put option derivative contracts are illiquid and contain contract terms that are not standard in derivatives markets. For example, we are not required to post collateral under most of our contracts. We determine the fair value of the equity index put option contract liabilities based on the Black-Scholes option valuation model. |
Common stock
Common stock | 9 Months Ended |
Sep. 30, 2021 | |
Equity [Abstract] | |
Common stock | Note 17. Common stock Changes in Berkshire’s issued, treasury and outstanding common stock during the first nine months of 2021 are shown in the table below. In addition to our common stock, 1,000,000 shares of preferred stock are authorized, but none are issued. Class A, $5 Par Value (1,650,000 shares authorized) Class B, $0.0033 Par Value (3,225,000,000 shares authorized) Issued Treasury Outstanding Issued Treasury Outstanding Balances at December 31, 2020 678,523 (34,592 ) 643,931 1,469,359,852 (119,316,381 ) 1,350,043,471 Conversions of Class A to Class B common stock (11,849 ) — (11,849 ) 17,773,500 — 17,773,500 Treasury stock acquired — (11,285 ) (11,285 ) — (59,366,771 ) (59,366,771 ) Balances at September 30, 2021 666,674 (45,877 ) 620,797 1,487,133,352 (178,683,152 ) 1,308,450,200 Each Class A common share is entitled to one vote per share. Class B common stock possesses dividend and distribution rights equal to one-fifteen-hundredth one-ten-thousandth Since we have two classes of common stock, we provide earnings per share data on the Consolidated Statements of Earnings for average equivalent Class A shares outstanding and average equivalent Class B shares outstanding. Class B shares are economically equivalent to one-fifteen-hundredth (1/1,500) (1/1,500) Berkshire’s common stock repurchase program permits Berkshire to repurchase its Class A and Class B shares any time that Warren Buffett, Berkshire’s Chairman of the Board and Chief Executive Officer, and Charlie Munger, Vice Chairman of the Board, believe that the repurchase price is below Berkshire’s intrinsic value, conservatively determined. The program continues to allow share repurchases in the open market or through privately negotiated transactions and does not specify a maximum number of shares to be repurchased. However, repurchases will not be made if they would reduce the total value of Berkshire’s consolidated cash, cash equivalents and U.S. Treasury Bills holdings below $30 billion. The repurchase program does not obligate Berkshire to repurchase any specific dollar amount or number of Class A or Class B shares and there is no expiration date to the program. |
Income taxes
Income taxes | 9 Months Ended |
Sep. 30, 2021 | |
Income Tax Disclosure [Abstract] | |
Income taxes | Note 18. Income taxes Our consolidated effective income tax rates were 14.7% for the third quarter and 18.8% for the first nine months of 2021 compared to 19.8% for the third quarter and 30.8% for the first nine months of 2020. Our effective income tax rate normally reflects recurring benefits from dividends-received deductions applicable to investments in equity securities and production tax credits related to wind-powered electricity generation placed in service in the U.S. Our periodic effective income tax rate will also vary due to the changes in mix of pre-tax earnings, the magnitude of gains or losses with respect to our investments in equity securities, the amount of non-deductible goodwill impairment charges and other expenses and the underlying income tax rates applicable in the various taxing jurisdictions. |
Accumulated other comprehensive
Accumulated other comprehensive income | 9 Months Ended |
Sep. 30, 2021 | |
Equity [Abstract] | |
Accumulated other comprehensive income | Notes to Consolidated Financial Statements (Continued) Note 19. Accumulated other comprehensive income A summary of the net changes in after-tax accumulated other comprehensive income attributable to Berkshire Hathaway shareholders for the nine months ending September 30, 2021 and 2020 follows (in millions). Unrealized appreciation of investments, net Foreign currency translation Defined benefit pension plans Other Accumulated other comprehensive income First nine months of 2021 Balance at beginning of year $ 536 $ (3,082 ) $ (1,645 ) $ (52 ) $ (4,243 ) Other comprehensive income, net (126 ) (619 ) 112 42 (591 ) Balance at end of period $ 410 $ (3,701 ) $ (1,533 ) $ (10 ) $ (4,834 ) First nine months of 2020 Balance at beginning of year $ 481 $ (4,346 ) $ (1,369 ) $ (9 ) $ (5,243 ) Other comprehensive income, net 29 (28 ) 67 (15 ) 53 Balance at end of period $ 510 $ (4,374 ) $ (1,302 ) $ (24 ) $ (5,190 ) |
Supplemental cash flow informat
Supplemental cash flow information | 9 Months Ended |
Sep. 30, 2021 | |
Supplemental Cash Flow Elements [Abstract] | |
Supplemental cash flow information | Note 20. Supplemental cash flow information A summary of supplemental cash flow information is presented in the following table (in millions). First Nine Months 2021 2020 Cash paid during the period for: Income taxes $ 4,002 $ 2,715 Interest: Insurance and other 1,040 892 Railroad, utilities and energy 2,335 2,174 |
Contingencies and commitments
Contingencies and commitments | 9 Months Ended |
Sep. 30, 2021 | |
Commitments And Contingencies Disclosure [Abstract] | |
Contingencies and commitments | Note 21. Contingencies and commitments We are parties in a variety of legal actions that routinely arise out of the normal course of business, including legal actions seeking to establish liability directly through insurance contracts or indirectly through reinsurance contracts issued by Berkshire subsidiaries. Plaintiffs occasionally seek punitive or exemplary damages. We do not believe that such normal and routine litigation will have a material effect on our financial condition or results of operations. Berkshire and certain of its subsidiaries are also involved in other kinds of legal actions, some of which assert or may assert claims or seek to impose fines and penalties. We believe that any liability that may arise as a result of other pending legal actions will not have a material effect on our consolidated financial condition or results of operations. On November 1, 2020, Berkshire Hathaway Energy (“BHE”) acquired a large portion of the natural gas transmission and storage business of Dominion Energy, Inc. (“Dominion”) for approximately $2.5 billion. The acquisition included a partial ownership of a liquefied natural gas export, import and storage facility (“Cove Point”), consisting of 100% of the general partnership interest and 25% of the limited partnership interests. We treat Cove Point as a consolidated subsidiary because we have the power to direct the activities that most significantly affect its economic performance and the obligation to absorb losses and the right to receive benefits which could be significant to Cove Point. The fair value of the assets acquired was $13.4 billion, including residual goodwill of $1.7 billion, and the fair value of the liabilities assumed was $7.0 billion, including the assumption of approximately $5.6 billion of debt. We also recorded noncontrolling interests of $3.9 billion attributable to limited partnership interests in Cove Point that are held by third parties. In addition, BHE previously agreed to acquire certain other of Dominion’s pipeline business for approximately $1.3 billion. Effective July 9, 2021, BHE and Dominion agreed to terminate this planned transaction due to ongoing uncertainty in obtaining the necessary regulatory approvals. |
Revenues from contracts with cu
Revenues from contracts with customers | 9 Months Ended |
Sep. 30, 2021 | |
Revenue From Contract With Customer [Abstract] | |
Revenues from contracts with customers | Note 22. Revenues from contracts with customers We recognize revenue when a good or service is transferred to a customer. A good or service is transferred when or as the customer obtains control of that good or service. Revenues are based on the consideration we expect to receive in connection with our promises to deliver goods and services to our customers. The following tables summarize customer contract revenues disaggregated by reportable segment and the source of the revenue for the third quarter and first nine months of 2021 and 2020 (in millions). Other revenues included in consolidated revenues were primarily insurance premiums earned, interest, dividend and other investment income and leasing revenues, which are not considered to be revenues from contracts with customers under GAAP. Manufacturing McLane Company Service and Retailing BNSF Berkshire Hathaway Energy Insurance, Corporate and Other Total Three months ending September 30, 2021 Manufactured products: Industrial and commercial products $ 5,600 $ — $ 43 $ — $ — $ — $ 5,643 Building products 5,005 — — — — — 5,005 Consumer products 4,758 — — — — — 4,758 Grocery and convenience store distribution — 7,933 — — — — 7,933 Food and beverage distribution — 4,478 — — — — 4,478 Auto sales — — 2,423 — — — 2,423 Other retail and wholesale distribution 742 — 3,913 — — — 4,655 Service 400 175 1,073 5,747 1,586 — 8,981 Electricity and natural gas — — — — 5,138 — 5,138 Total 16,505 12,586 7,452 5,747 6,724 — 49,014 Other revenues 951 26 1,202 14 289 19,087 21,569 $ 17,456 $ 12,612 $ 8,654 $ 5,761 $ 7,013 $ 19,087 $ 70,583 Nine months ending September 30, 2021 Manufactured products: Industrial and commercial products $ 16,549 $ — $ 142 $ — $ — $ — $ 16,691 Building products 14,518 — — — — — 14,518 Consumer products 13,525 — — — — — 13,525 Grocery and convenience store distribution — 23,104 — — — — 23,104 Food and beverage distribution — 12,838 — — — — 12,838 Auto sales — — 7,485 — — — 7,485 Other retail and wholesale distribution 2,199 — 11,577 — — — 13,776 Service 1,099 509 3,060 16,875 4,219 — 25,762 Electricity and natural gas — — — — 14,048 — 14,048 Total 47,890 36,451 22,264 16,875 18,267 — 141,747 Other revenues 2,821 78 3,287 42 755 55,566 62,549 $ 50,711 $ 36,529 $ 25,551 $ 16,917 $ 19,022 $ 55,566 $ 204,296 Notes to Consolidated Financial Statements (Continued) Note 22. Revenues from contracts with customers (Continued) Manufacturing McLane Company Service and Retailing BNSF Berkshire Hathaway Energy Insurance, Corporate and Other Total Three months ending September 30, 2020 Manufactured products: Industrial and commercial products $ 4,889 $ — $ 54 $ — $ — $ — $ 4,943 Building products 4,322 — — — — — 4,322 Consumer products 4,036 — — — — — 4,036 Grocery and convenience store distribution — 7,905 — — — — 7,905 Food and beverage distribution — 3,968 — — — — 3,968 Auto sales — — 2,195 — — — 2,195 Other retail and wholesale distribution 599 — 3,182 — — — 3,781 Service 370 144 865 5,135 1,474 — 7,988 Electricity and natural gas — — — — 4,356 — 4,356 Total 14,216 12,017 6,296 5,135 5,830 — 43,494 Other revenues 929 23 966 14 396 17,202 19,530 $ 15,145 $ 12,040 $ 7,262 $ 5,149 $ 6,226 $ 17,202 $ 63,024 Nine months ending September 30, 2020 Manufactured products: Industrial and commercial products $ 15,639 $ — $ 143 $ — $ — $ — $ 15,782 Building products 11,682 — — — — — 11,682 Consumer products 10,373 — — — — — 10,373 Grocery and convenience store distribution — 23,051 — — — — 23,051 Food and beverage distribution — 11,561 — — — — 11,561 Auto sales — — 5,999 — — — 5,999 Other retail and wholesale distribution 1,691 — 8,735 — — — 10,426 Service 1,105 398 2,460 15,059 3,238 — 22,260 Electricity and natural gas — — — — 11,190 — 11,190 Total 40,490 35,010 17,337 15,059 14,428 — 122,324 Other revenues 2,686 69 2,884 42 964 52,160 58,805 $ 43,176 $ 35,079 $ 20,221 $ 15,101 $ 15,392 $ 52,160 $ 181,129 A summary of the transaction price allocated to the significant unsatisfied remaining performance obligations relating to contracts with expected durations in excess of one year as of September 30, 2021 and the timing of when the performance obligations are expected to be satisfied follows (in millions). Less than 12 months Greater than 12 months Total Electricity and natural gas $ 2,761 $ 21,377 $ 24,138 Other sales and service contracts 1,402 2,203 3,605 |
Business segment data
Business segment data | 9 Months Ended |
Sep. 30, 2021 | |
Segment Reporting [Abstract] | |
Business segment data | Note 23. Business segment data Our operating businesses include a large and diverse group of insurance, manufacturing, service and retailing businesses. We organize our reportable business segments in a manner that reflects how management views those business activities. Certain businesses are grouped together for segment reporting based upon similar products or product lines and marketing, selling and distribution characteristics, even though those business units are operated under separate local management. Revenues and earnings before income taxes by segment for the third quarter and first nine months of 2021 and 2020 were as follows (in millions). Third Quarter First Nine Months 2021 2020 2021 2020 Revenues of Operating Businesses Insurance: Underwriting: GEICO $ 9,604 $ 8,540 $ 28,073 $ 26,689 Berkshire Hathaway Primary Group 2,964 2,490 8,373 7,103 Berkshire Hathaway Reinsurance Group 5,159 4,883 14,868 13,464 Investment income 1,339 1,223 4,212 4,486 Total insurance 19,066 17,136 55,526 51,742 BNSF 5,790 5,176 17,000 15,195 Berkshire Hathaway Energy 7,013 6,226 19,022 15,392 Manufacturing 17,496 15,170 50,821 43,238 McLane Company 12,612 12,040 36,529 35,079 Service and retailing 8,679 7,279 25,614 20,272 70,656 63,027 204,512 180,918 Reconciliation of segments to consolidated amount Corporate, eliminations and other (73 ) (3 ) (216 ) 211 $ 70,583 $ 63,024 $ 204,296 $ 181,129 Third Quarter First Nine Months 2021 2020 2021 2020 Earnings Before Income Taxes of Operating Businesses Insurance: Underwriting: GEICO $ (289 ) $ 276 $ 1,360 $ 3,320 Berkshire Hathaway Primary Group (23 ) (126 ) 349 (63 ) Berkshire Hathaway Reinsurance Group (708 ) (441 ) (1,298 ) (2,033 ) Investment income 1,337 1,220 4,205 4,480 Total insurance 317 929 4,616 5,704 BNSF 2,029 1,777 5,667 4,855 Berkshire Hathaway Energy 1,375 1,122 2,797 2,074 Manufacturing 2,445 2,255 7,595 5,765 McLane Company (8 ) 96 179 205 Service and retailing 1,110 779 3,234 1,745 7,268 6,958 24,088 20,348 Reconciliation of segments to consolidated amount Investment and derivative gains 4,921 31,582 38,015 1,392 Interest expense, not allocated to segments (128 ) (116 ) (386 ) (363 ) Equity method investments 377 290 775 333 Goodwill and intangible impairments — (25 ) — (10,659 ) Corporate, eliminations and other 46 (759 ) 241 (761 ) $ 12,484 $ 37,930 $ 62,733 $ 10,290 |
New accounting pronouncements (
New accounting pronouncements (Policies) | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Changes And Error Corrections [Abstract] | |
New accounting pronouncements | We adopted Accounting Standards Codification (“ASC”) 326 “Financial Instruments-Credit Losses” on January 1, 2020. ASC 326 provides for the measurement of expected credit losses on financial assets that are carried at amortized cost based on the net amounts expected to be collected. Measurements of expected credit losses include provisions for non-collection, whether the risk is probable or remote. Prior to the adoption of ASC 326, credit losses were measured when non-collection was considered probable based on the prevailing facts and circumstances. Upon adoption of ASC 326, we recorded a charge to retained earnings of $388 million representing the cumulative after-tax increase in our allowances for credit losses, which was primarily related to our manufactured housing loans. In August 2018, the FASB issued ASU 2018-12 “Targeted Improvements to the Accounting for Long-Duration Contracts.” ASU 2018-12 requires periodic reassessment of actuarial and discount rate assumptions used to value policyholder liabilities and deferred acquisition costs of long-duration insurance and reinsurance contracts, with the effects of changes in cash flow assumptions reflected in earnings and the effects of changes in discount rate assumptions reflected in other comprehensive income. Currently, the actuarial and discount rate assumptions are established at the contract inception date and not subsequently changed, except under limited circumstances. ASU 2018-12 requires new disclosures and is effective for fiscal years beginning after December 15, 2022, with early adoption permitted. We are evaluating the effect this standard will have on our Consolidated Financial Statements. |
Investments in fixed maturity_2
Investments in fixed maturity securities (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Investments Debt And Equity Securities [Abstract] | |
Schedule of investments in securities with fixed maturities | Investments in fixed maturity securities as of September 30, 2021 and December 31, 2020 are summarized as follows (in millions). Amortized Cost Unrealized Gains Unrealized Losses Fair Value September 30, 2021 U.S. Treasury, U.S. government corporations and agencies $ 3,358 $ 30 $ — $ 3,388 Foreign governments 12,407 38 (27 ) 12,418 Corporate bonds 1,510 431 — 1,941 Other 327 52 (1 ) 378 $ 17,602 $ 551 $ (28 ) $ 18,125 December 31, 2020 U.S. Treasury, U.S. government corporations and agencies $ 3,348 $ 55 $ — $ 3,403 Foreign governments 11,233 110 (5 ) 11,338 Corporate bonds 4,729 464 (2 ) 5,191 Other 414 66 (2 ) 478 $ 19,724 $ 695 $ (9 ) $ 20,410 |
Schedule of amortized cost and estimated fair value of securities with fixed maturities | The amortized cost and estimated fair value of fixed maturity securities as of September 30, 2021 are summarized below by contractual maturity dates (in millions). Actual maturities may differ from contractual maturities due to early call or prepayment rights held by issuers. Due in one year or less Due after one year through five years Due after five years through ten years Due after ten years Mortgage- backed securities Total Amortized cost $ 9,433 $ 7,225 $ 487 $ 206 $ 251 $ 17,602 Fair value 9,436 7,283 758 350 298 18,125 |
Investments in equity securit_2
Investments in equity securities (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Investments Debt And Equity Securities [Abstract] | |
Schedule of investments in equity securities | Investments in equity securities as of September 30, 2021 and December 31, 2020 are summarized as follows (in millions). Cost Basis Net Unrealized Gains Fair Value September 30, 2021* Banks, insurance and finance $ 26,809 $ 60,931 $ 87,740 Consumer products 34,973 119,421 154,394 Commercial, industrial and other 42,406 26,199 68,605 $ 104,188 $ 206,551 $ 310,739 * Approximately 70% of the aggregate fair value was concentrated in four companies (American Express Company – $25.4 billion; Apple Inc. – $128.4 billion; Bank of America Corporation – $43.9 billion and The Coca-Cola Company – $21.0 billion). Cost Basis Net Unrealized Gains Fair Value December 31, 2020* Banks, insurance and finance $ 26,312 $ 40,167 $ 66,479 Consumer products 34,747 111,583 146,330 Commercial, industrial and other 47,561 20,800 68,361 $ 108,620 $ 172,550 $ 281,170 * Approximately 68% of the aggregate fair value was concentrated in four companies (American Express Company – $18.3 billion; Apple Inc. – $120.4 billion; Bank of America Corporation – $31.3 billion and The Coca-Cola Company – $21.9 billion). |
Equity method investments (Tabl
Equity method investments (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Equity Method Investments And Joint Ventures [Abstract] | |
Summarized unaudited financial information of Kraft Heinz | Summarized consolidated financial information of Kraft Heinz follows (in millions). September 25, 2021 December 26, 2020 Assets $ 94,897 $ 99,830 Liabilities 44,659 49,587 Third Quarter First Nine Months 2021 2020 2021 2020 Sales $ 6,324 $ 6,441 $ 19,333 $ 19,246 Net earnings (loss) attributable to Kraft Heinz common shareholders 733 597 1,269 (676 ) * * Includes goodwill and identifiable intangible asset impairment charges of approximately $3.2 billion in the first nine months. |
Investment and derivative con_2
Investment and derivative contract gains/losses (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Investments Debt And Equity Securities [Abstract] | |
Summary of investment and derivative gains and losses | Investment and derivative contract gains/losses in the third quarter and first nine months of 2021 and 2020 are summarized as follows (in millions). Third Quarter First Nine Months 2021 2020 2021 2020 Investment gains (losses): Equity securities: Change in unrealized investment gains (losses) during the period on securities held at the end of the period $ 4,759 $ 30,837 $ 36,163 $ 16,458 Investment gains (losses) on securities sold during the period 75 1,330 889 (13,901 ) 4,834 32,167 37,052 2,557 Fixed maturity securities: Gross realized gains 24 12 59 53 Gross realized losses (7 ) (2 ) (20 ) (22 ) Other — (552 ) 144 (556 ) Investment gains (losses) 4,851 31,625 37,235 2,032 Derivative contract gains (losses) 70 (43 ) 780 (640 ) $ 4,921 $ 31,582 $ 38,015 $ 1,392 |
Derivative contracts outstanding | Information related to these contracts follows (dollars in millions). September 30, 2021 December 31, 2020 Balance sheet liabilities - at fair value $ 286 $ 1,065 Notional value 8,251 10,991 Intrinsic value 83 727 Weighted average remaining life (in years) 0.6 1.2 |
Loans and finance receivables (
Loans and finance receivables (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Schedule of receivables | Other receivables are comprised of the following (in millions). September 30, 2021 December 31, 2020 Insurance and other: Insurance premiums receivable $ 16,151 $ 14,025 Reinsurance recoverables 4,892 4,805 Trade receivables 13,579 11,521 Other 3,344 2,637 Allowances for uncollectible accounts (689 ) (678 ) $ 37,277 $ 32,310 Railroad, utilities and energy: Trade receivables $ 3,780 $ 3,235 Other 720 438 Allowances for uncollectible accounts (176 ) (131 ) $ 4,324 $ 3,542 |
Loans and Finance Receivables [Member] | |
Schedule of receivables | Loans and finance receivables are summarized as follows (in millions). September 30, 2021 December 31, 2020 Loans and finance receivables before allowances and discounts $ 21,685 $ 20,436 Allowances for uncollectible loans (744 ) (712 ) Unamortized acquisition discounts and points (544 ) (523 ) $ 20,397 $ 19,201 |
Schedule of reconciliation of allowance for credit losses on loans and finance receivables | Loans and finance receivables are principally manufactured home loans, and to a lesser extent, commercial loans and site-built home loans. Reconciliations of the allowance for credit losses on loans and finance receivables for each of the first nine months of 2021 and 2020 follow (in millions). 2021 2020 Balance at beginning of year $ 712 $ 167 Adoption of ASC 326 — 486 Provision for credit losses 65 177 Charge-offs, net of recoveries (33 ) (99 ) Balance at September 30 $ 744 $ 731 |
Manufactured Housing Loan Balances [Member] | |
Summary of performing and non-performing home loans before discounts and allowances by year of loan origination | A summary of performing and non-performing home loans before discounts and allowances by year of loan origination as of September 30, 2021 follows (in millions). Origination Year 2021 2020 2019 2018 2017 Prior Total Performing $ 3,794 $ 3,264 $ 2,308 $ 1,748 $ 1,300 $ 7,126 $ 19,540 Non-performing 2 3 6 6 5 40 62 $ 3,796 $ 3,267 $ 2,314 $ 1,754 $ 1,305 $ 7,166 $ 19,602 |
Other receivables (Tables)
Other receivables (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Receivables [Abstract] | |
Schedule of receivables | Other receivables are comprised of the following (in millions). September 30, 2021 December 31, 2020 Insurance and other: Insurance premiums receivable $ 16,151 $ 14,025 Reinsurance recoverables 4,892 4,805 Trade receivables 13,579 11,521 Other 3,344 2,637 Allowances for uncollectible accounts (689 ) (678 ) $ 37,277 $ 32,310 Railroad, utilities and energy: Trade receivables $ 3,780 $ 3,235 Other 720 438 Allowances for uncollectible accounts (176 ) (131 ) $ 4,324 $ 3,542 |
Inventories (Tables)
Inventories (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Inventory Disclosure [Abstract] | |
Schedule of inventories | Inventories are comprised of the following (in millions). September 30, 2021 December 31, 2020 Raw materials $ 5,389 $ 4,821 Work in process and other 3,290 2,541 Finished manufactured goods 4,446 4,412 Goods acquired for resale 7,066 7,434 $ 20,191 $ 19,208 |
Property, plant and equipment_2
Property, plant and equipment including equipment held for lease (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Schedule of depreciation expense | Depreciation expense for the first nine months of 2021 and 2020 is summarized below (in millions). First Nine Months 2021 2020 Insurance and other $ 1,725 $ 1,725 Railroad, utilities and energy 4,485 4,105 $ 6,210 $ 5,830 |
Insurance and Other [Member] | |
Schedule of property, plant and equipment | A summary of property, plant and equipment of our insurance and other businesses follows (in millions). September 30, 2021 December 31, 2020 Land, buildings and improvements $ 13,846 $ 13,799 Machinery and equipment 25,849 25,488 Furniture, fixtures and other 4,670 4,530 44,365 43,817 Accumulated depreciation (23,643 ) (22,617 ) $ 20,722 $ 21,200 |
Railroad, Utilities and Energy [Member] | |
Schedule of property, plant and equipment | A summary of property, plant and equipment of railroad and utilities and energy businesses follows (in millions). The utility generation, transmission and distribution systems and interstate natural gas pipeline assets are owned by regulated public utility and natural gas pipeline subsidiaries. September 30, 2021 December 31, 2020 Railroad: Land, track structure and other roadway $ 65,167 $ 63,824 Locomotives, freight cars and other equipment 13,784 13,523 Construction in progress 1,030 916 79,981 78,263 Accumulated depreciation (14,641 ) (13,175 ) 65,340 65,088 Utilities and energy: Utility generation, transmission and distribution systems 89,026 86,730 Interstate natural gas pipeline assets 17,044 16,667 Independent power plants and other assets 13,009 12,671 Construction in progress 4,343 3,308 123,422 119,376 Accumulated depreciation (35,361 ) (33,248 ) 88,061 86,128 $ 153,401 $ 151,216 |
Equipment held for lease (Table
Equipment held for lease (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Property Plant And Equipment [Abstract] | |
Summary of equipment held for lease | Equipment held for lease includes railcars, aircraft, over-the-road trailers, intermodal tank containers, cranes, storage units and furniture. A summary of equipment held for lease follows (in millions). September 30, 2021 December 31, 2020 Railcars $ 9,482 $ 9,402 Aircraft 8,852 8,204 Other 5,031 4,868 23,365 22,474 Accumulated depreciation (8,613 ) (7,873 ) $ 14,752 $ 14,601 |
Summary of fixed and variable operating lease revenues | Fixed and variable Third Quarter First Nine Months 2021 2020 2021 2020 Fixed lease revenue $ 1,151 $ 1,047 $ 3,318 $ 3,205 Variable lease revenue 414 269 1,018 700 $ 1,565 $ 1,316 $ 4,336 $ 3,905 |
Goodwill and other intangible_2
Goodwill and other intangible assets (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Reconciliation of the change in goodwill | Reconciliations of the changes in the carrying value of goodwill for the first nine months of 2021 and for the year ended December 31, 2020 follow (in millions). September 30, 2021 December 31, 2020 Balance at beginning of year $ 73,734 $ 81,882 Acquisitions of businesses 182 1,758 Impairment charges — (10,033 ) Other, including foreign currency translation (146 ) 127 Balance at end of period* $ 73,770 $ 73,734 * Net of accumulated goodwill impairments of $11.0 billion as of September 30, 2021 and December 31, 2020. |
Schedule of intangible assets | Other intangible assets and related accumulated amortization are summarized as follows (in millions). September 30, 2021 December 31, 2020 Gross carrying amount Accumulated amortization Gross carrying amount Accumulated amortization Insurance and other: Customer relationships $ 27,331 $ 6,281 $ 27,374 $ 5,756 Trademarks and trade names 5,178 797 5,206 779 Patents and technology 4,763 3,442 4,766 3,313 Other 3,317 1,426 3,339 1,375 $ 40,589 $ 11,946 $ 40,685 $ 11,223 Railroad, utilities and energy: Customer relationships $ 678 $ 388 $ 678 $ 361 Trademarks, trade names and other 1,005 133 1,003 98 $ 1,683 $ 521 $ 1,681 $ 459 |
Unpaid losses and loss adjust_2
Unpaid losses and loss adjustment expenses (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Insurance [Abstract] | |
Schedule of liability for unpaid claims and claims adjustment expense | A reconciliation of the changes in claim liabilities, excluding liabilities under retroactive reinsurance contracts (see Note 14), for each of the nine-month periods ending September 30, 2021 and 2020 follows (in millions). 2021 2020 Balances at beginning of year: Gross liabilities $ 79,854 $ 73,019 Reinsurance recoverable on unpaid losses (2,912 ) (2,855 ) Net liabilities 76,942 70,164 Incurred losses and loss adjustment expenses: Current accident year events 38,447 31,777 Prior accident years’ events (2,151 ) 69 Total 36,296 31,846 Paid losses and loss adjustment expenses: Current accident year events (15,277 ) (11,691 ) Prior accident years’ events (15,076 ) (15,259 ) Total (30,353 ) (26,950 ) Foreign currency translation adjustment (119 ) 124 Balances at September 30: Net liabilities 82,766 75,184 Reinsurance recoverable on unpaid losses 2,988 2,857 Gross liabilities $ 85,754 $ 78,041 |
Retroactive reinsurance contr_2
Retroactive reinsurance contracts (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Insurance [Abstract] | |
Reconciliation of changes in retroactive reinsurance claim liabilities and deferred charges | Reconciliations of the changes in estimated liabilities for retroactive reinsurance unpaid losses and loss adjustment expenses (“claim liabilities”) and related deferred charges reinsurance assumed for each of the nine-month periods ending September 30, 2021 and 2020 follow (in millions). 2021 2020 Unpaid losses and loss adjustment expenses Deferred charges reinsurance assumed Unpaid losses and loss adjustment expenses Deferred charges reinsurance assumed Balances at beginning of year $ 40,966 $ (12,441 ) $ 42,441 $ (13,747 ) Incurred losses and loss adjustment expenses: Current year contracts 82 — — — Prior years’ contracts (9 ) 709 131 735 Total 73 709 131 735 Paid losses and loss adjustment expenses (1,318 ) — (786 ) — Balances at September 30 $ 39,721 $ (11,732 ) $ 41,786 $ (13,012 ) Incurred losses and loss adjustment expenses, net of deferred charges $ 782 $ 866 |
Notes payable and other borro_2
Notes payable and other borrowings (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Schedule of short and long term outstanding debt disclosure | Notes payable and other borrowings are summarized below (in millions). The weighted average interest rates and maturity date ranges shown in the following tables are based on borrowings as of September 30, 2021. Weighted Average Interest Rate September 30, 2021 December 31, 2020 Insurance and other: Berkshire Hathaway Inc. (“Berkshire”): U.S. Dollar denominated due 2022-2047 3.3 % $ 6,817 $ 8,308 Euro denominated due 2023-2041 1.0 % 7,934 8,326 Japanese Yen denominated due 2023-2060 0.6 % 7,028 6,031 Berkshire Hathaway Finance Corporation (“BHFC”): U.S. Dollar denominated due 2022-2051 3.6 % 10,757 10,766 Great Britain Pound denominated due 2039-2059 2.5 % 2,315 2,347 Other subsidiary borrowings due 2021-2045 4.1 % 4,497 4,682 Subsidiary short-term borrowings 2.8 % 297 1,062 $ 39,645 $ 41,522 |
Railroad, Utilities and Energy [Member] | |
Schedule of short and long term outstanding debt disclosure | Weighted Average Interest Rate September 30, 2021 December 31, 2020 Railroad, utilities and energy: Berkshire Hathaway Energy Company (“BHE”) and subsidiaries: BHE senior unsecured debt due 2023-2051 4.3 % $ 13,001 $ 13,447 Subsidiary and other debt due 2021-2064 4.1 % 37,096 36,420 Short-term borrowings 1.6 % 1,968 2,286 Burlington Northern Santa Fe ("BNSF") and subsidiaries due 2021-2097 4.5 % 23,255 23,220 $ 75,320 $ 75,373 |
Fair value measurements (Tables
Fair value measurements (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Fair Value Disclosures [Abstract] | |
Financial assets and liabilities measured at fair value on a recurring basis | Our financial assets and liabilities are summarized below as of September 30, 2021 and December 31, 2020, with fair values shown according to the fair value hierarchy (in millions). The carrying values of cash and cash equivalents, U.S. Treasury Bills, other receivables and accounts payable, accruals and other liabilities are considered to be reasonable estimates of their fair values. Carrying Value Fair Value Quoted Prices (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) September 30, 2021 Investments in fixed maturity securities: U.S. Treasury, U.S. government corporations and agencies $ 3,388 $ 3,388 $ 3,345 $ 43 $ — Foreign governments 12,418 12,418 11,074 1,344 — Corporate bonds 1,941 1,941 — 1,941 — Other 378 378 — 378 — Investments in equity securities 310,739 310,739 298,633 8 12,098 Investment in Kraft Heinz common stock 13,290 11,983 11,983 — — Loans and finance receivables 20,397 21,743 — 2,391 19,352 Derivative contract assets (1) 540 540 15 407 118 Derivative contract liabilities: Railroad, utilities and energy (1) 130 130 3 69 58 Equity index put options 286 286 — — 286 Notes payable and other borrowings: Insurance and other 39,645 42,851 — 42,810 41 Railroad, utilities and energy 75,320 87,965 — 87,965 — December 31, 2020 Investments in fixed maturity securities: U.S. Treasury, U.S. government corporations and agencies $ 3,403 $ 3,403 $ 3,358 $ 45 $ — Foreign governments 11,338 11,338 9,259 2,079 — Corporate bonds 5,191 5,191 — 5,191 — Other 478 478 — 478 — Investments in equity securities 281,170 281,170 271,848 38 9,284 Investment in Kraft Heinz common stock 13,336 11,280 11,280 — — Loans and finance receivables 19,201 20,554 — 2,692 17,862 Derivative contract assets (1) 270 270 1 72 197 Derivative contract liabilities: Railroad, utilities and energy (1) 121 121 6 96 19 Equity index put options 1,065 1,065 — — 1,065 Notes payable and other borrowings: Insurance and other 41,522 46,676 — 46,665 11 Railroad, utilities and energy 75,373 92,593 — 92,593 — (1) |
Reconciliations of significant assets and liabilities measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) | Reconciliations of significant assets and liabilities measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) for the nine months ended September 30, 2021 and 2020 follow (in millions). Balance at beginning of year Gains (losses) included in earnings Acquisitions, dispositions and settlements Balance at September 30 Investments in equity securities: 2021 $ 8,978 $ 1,713 $ 1,100 $ 11,791 2020 10,405 (2,235 ) (1 ) 8,169 Equity index put option contract liabilities: 2021 (1,065 ) 780 (1 ) (286 ) 2020 (968 ) (640 ) 61 (1,547 ) |
Fair value assets and liabilities measured on recurring basis, unobservable inputs, additional information | Quantitative information as of September 30, 2021 with respect to significant assets and liabilities measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) follows (dollars in millions). Fair Value Principal Valuation Techniques Unobservable Inputs Weighted Average Investments in equity securities: Preferred stock $ 11,179 Discounted cash flow Expected duration 7 years Discount for transferability restrictions and subordination 355 basis points Common stock warrants 612 Warrant pricing model Expected duration 8 years Volatility 37% Equity index put option contract liabilities 286 Option pricing model Volatility 18% |
Common stock (Tables)
Common stock (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Equity [Abstract] | |
Changes in issued, treasury and outstanding Berkshire common stock | Changes in Berkshire’s issued, treasury and outstanding common stock during the first nine months of 2021 are shown in the table below. In addition to our common stock, 1,000,000 shares of preferred stock are authorized, but none are issued. Class A, $5 Par Value (1,650,000 shares authorized) Class B, $0.0033 Par Value (3,225,000,000 shares authorized) Issued Treasury Outstanding Issued Treasury Outstanding Balances at December 31, 2020 678,523 (34,592 ) 643,931 1,469,359,852 (119,316,381 ) 1,350,043,471 Conversions of Class A to Class B common stock (11,849 ) — (11,849 ) 17,773,500 — 17,773,500 Treasury stock acquired — (11,285 ) (11,285 ) — (59,366,771 ) (59,366,771 ) Balances at September 30, 2021 666,674 (45,877 ) 620,797 1,487,133,352 (178,683,152 ) 1,308,450,200 |
Accumulated other comprehensi_2
Accumulated other comprehensive income (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Equity [Abstract] | |
Schedule of accumulated other comprehensive income | A summary of the net changes in after-tax accumulated other comprehensive income attributable to Berkshire Hathaway shareholders for the nine months ending September 30, 2021 and 2020 follows (in millions). Unrealized appreciation of investments, net Foreign currency translation Defined benefit pension plans Other Accumulated other comprehensive income First nine months of 2021 Balance at beginning of year $ 536 $ (3,082 ) $ (1,645 ) $ (52 ) $ (4,243 ) Other comprehensive income, net (126 ) (619 ) 112 42 (591 ) Balance at end of period $ 410 $ (3,701 ) $ (1,533 ) $ (10 ) $ (4,834 ) First nine months of 2020 Balance at beginning of year $ 481 $ (4,346 ) $ (1,369 ) $ (9 ) $ (5,243 ) Other comprehensive income, net 29 (28 ) 67 (15 ) 53 Balance at end of period $ 510 $ (4,374 ) $ (1,302 ) $ (24 ) $ (5,190 ) |
Supplemental cash flow inform_2
Supplemental cash flow information (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Supplemental Cash Flow Elements [Abstract] | |
Schedule of supplemental cash flow information | A summary of supplemental cash flow information is presented in the following table (in millions). First Nine Months 2021 2020 Cash paid during the period for: Income taxes $ 4,002 $ 2,715 Interest: Insurance and other 1,040 892 Railroad, utilities and energy 2,335 2,174 |
Revenues from contracts with _2
Revenues from contracts with customers (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Revenue From Contract With Customer [Abstract] | |
Revenue from contracts with customers disaggregated by reportable segment and source of revenue | The following tables summarize customer contract revenues disaggregated by reportable segment and the source of the revenue for the third quarter and first nine months of 2021 and 2020 (in millions). Other revenues included in consolidated revenues were primarily insurance premiums earned, interest, dividend and other investment income and leasing revenues, which are not considered to be revenues from contracts with customers under GAAP. Manufacturing McLane Company Service and Retailing BNSF Berkshire Hathaway Energy Insurance, Corporate and Other Total Three months ending September 30, 2021 Manufactured products: Industrial and commercial products $ 5,600 $ — $ 43 $ — $ — $ — $ 5,643 Building products 5,005 — — — — — 5,005 Consumer products 4,758 — — — — — 4,758 Grocery and convenience store distribution — 7,933 — — — — 7,933 Food and beverage distribution — 4,478 — — — — 4,478 Auto sales — — 2,423 — — — 2,423 Other retail and wholesale distribution 742 — 3,913 — — — 4,655 Service 400 175 1,073 5,747 1,586 — 8,981 Electricity and natural gas — — — — 5,138 — 5,138 Total 16,505 12,586 7,452 5,747 6,724 — 49,014 Other revenues 951 26 1,202 14 289 19,087 21,569 $ 17,456 $ 12,612 $ 8,654 $ 5,761 $ 7,013 $ 19,087 $ 70,583 Nine months ending September 30, 2021 Manufactured products: Industrial and commercial products $ 16,549 $ — $ 142 $ — $ — $ — $ 16,691 Building products 14,518 — — — — — 14,518 Consumer products 13,525 — — — — — 13,525 Grocery and convenience store distribution — 23,104 — — — — 23,104 Food and beverage distribution — 12,838 — — — — 12,838 Auto sales — — 7,485 — — — 7,485 Other retail and wholesale distribution 2,199 — 11,577 — — — 13,776 Service 1,099 509 3,060 16,875 4,219 — 25,762 Electricity and natural gas — — — — 14,048 — 14,048 Total 47,890 36,451 22,264 16,875 18,267 — 141,747 Other revenues 2,821 78 3,287 42 755 55,566 62,549 $ 50,711 $ 36,529 $ 25,551 $ 16,917 $ 19,022 $ 55,566 $ 204,296 Notes to Consolidated Financial Statements (Continued) Note 22. Revenues from contracts with customers (Continued) Manufacturing McLane Company Service and Retailing BNSF Berkshire Hathaway Energy Insurance, Corporate and Other Total Three months ending September 30, 2020 Manufactured products: Industrial and commercial products $ 4,889 $ — $ 54 $ — $ — $ — $ 4,943 Building products 4,322 — — — — — 4,322 Consumer products 4,036 — — — — — 4,036 Grocery and convenience store distribution — 7,905 — — — — 7,905 Food and beverage distribution — 3,968 — — — — 3,968 Auto sales — — 2,195 — — — 2,195 Other retail and wholesale distribution 599 — 3,182 — — — 3,781 Service 370 144 865 5,135 1,474 — 7,988 Electricity and natural gas — — — — 4,356 — 4,356 Total 14,216 12,017 6,296 5,135 5,830 — 43,494 Other revenues 929 23 966 14 396 17,202 19,530 $ 15,145 $ 12,040 $ 7,262 $ 5,149 $ 6,226 $ 17,202 $ 63,024 Nine months ending September 30, 2020 Manufactured products: Industrial and commercial products $ 15,639 $ — $ 143 $ — $ — $ — $ 15,782 Building products 11,682 — — — — — 11,682 Consumer products 10,373 — — — — — 10,373 Grocery and convenience store distribution — 23,051 — — — — 23,051 Food and beverage distribution — 11,561 — — — — 11,561 Auto sales — — 5,999 — — — 5,999 Other retail and wholesale distribution 1,691 — 8,735 — — — 10,426 Service 1,105 398 2,460 15,059 3,238 — 22,260 Electricity and natural gas — — — — 11,190 — 11,190 Total 40,490 35,010 17,337 15,059 14,428 — 122,324 Other revenues 2,686 69 2,884 42 964 52,160 58,805 $ 43,176 $ 35,079 $ 20,221 $ 15,101 $ 15,392 $ 52,160 $ 181,129 |
Transaction price allocated to significant unsatisfied remaining performance obligations and timing of when performance obligations expected to be satisfied | A summary of the transaction price allocated to the significant unsatisfied remaining performance obligations relating to contracts with expected durations in excess of one year as of September 30, 2021 and the timing of when the performance obligations are expected to be satisfied follows (in millions). Less than 12 months Greater than 12 months Total Electricity and natural gas $ 2,761 $ 21,377 $ 24,138 Other sales and service contracts 1,402 2,203 3,605 |
Business segment data (Tables)
Business segment data (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Segment Reporting [Abstract] | |
Schedule of revenues and earnings or loss before income taxes by segment | Our operating businesses include a large and diverse group of insurance, manufacturing, service and retailing businesses. We organize our reportable business segments in a manner that reflects how management views those business activities. Certain businesses are grouped together for segment reporting based upon similar products or product lines and marketing, selling and distribution characteristics, even though those business units are operated under separate local management. Revenues and earnings before income taxes by segment for the third quarter and first nine months of 2021 and 2020 were as follows (in millions). Third Quarter First Nine Months 2021 2020 2021 2020 Revenues of Operating Businesses Insurance: Underwriting: GEICO $ 9,604 $ 8,540 $ 28,073 $ 26,689 Berkshire Hathaway Primary Group 2,964 2,490 8,373 7,103 Berkshire Hathaway Reinsurance Group 5,159 4,883 14,868 13,464 Investment income 1,339 1,223 4,212 4,486 Total insurance 19,066 17,136 55,526 51,742 BNSF 5,790 5,176 17,000 15,195 Berkshire Hathaway Energy 7,013 6,226 19,022 15,392 Manufacturing 17,496 15,170 50,821 43,238 McLane Company 12,612 12,040 36,529 35,079 Service and retailing 8,679 7,279 25,614 20,272 70,656 63,027 204,512 180,918 Reconciliation of segments to consolidated amount Corporate, eliminations and other (73 ) (3 ) (216 ) 211 $ 70,583 $ 63,024 $ 204,296 $ 181,129 Third Quarter First Nine Months 2021 2020 2021 2020 Earnings Before Income Taxes of Operating Businesses Insurance: Underwriting: GEICO $ (289 ) $ 276 $ 1,360 $ 3,320 Berkshire Hathaway Primary Group (23 ) (126 ) 349 (63 ) Berkshire Hathaway Reinsurance Group (708 ) (441 ) (1,298 ) (2,033 ) Investment income 1,337 1,220 4,205 4,480 Total insurance 317 929 4,616 5,704 BNSF 2,029 1,777 5,667 4,855 Berkshire Hathaway Energy 1,375 1,122 2,797 2,074 Manufacturing 2,445 2,255 7,595 5,765 McLane Company (8 ) 96 179 205 Service and retailing 1,110 779 3,234 1,745 7,268 6,958 24,088 20,348 Reconciliation of segments to consolidated amount Investment and derivative gains 4,921 31,582 38,015 1,392 Interest expense, not allocated to segments (128 ) (116 ) (386 ) (363 ) Equity method investments 377 290 775 333 Goodwill and intangible impairments — (25 ) — (10,659 ) Corporate, eliminations and other 46 (759 ) 241 (761 ) $ 12,484 $ 37,930 $ 62,733 $ 10,290 |
New accounting pronouncements -
New accounting pronouncements - Narrative (Detail) - USD ($) $ in Millions | Sep. 30, 2021 | Dec. 31, 2020 | Jan. 01, 2020 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Retained earnings | $ 494,775 | $ 444,626 | |
ASU 2016-13 [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Change in accounting principle, accounting standards update, adopted | true | ||
Change in accounting principle, accounting standards update, adoption date | Jan. 1, 2020 | ||
ASU 2016-13 [Member] | Cumulative effect, period of adoption, adjustment [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Retained earnings | $ (388) |
Investments in fixed maturity_3
Investments in fixed maturity securities (Detail) - USD ($) $ in Millions | Sep. 30, 2021 | Dec. 31, 2020 |
Summary of Investment Holdings [Line Items] | ||
Amortized cost of fixed maturity securities | $ 17,602 | $ 19,724 |
Unrealized gains on fixed maturity securities | 551 | 695 |
Unrealized losses on fixed maturity securities | (28) | (9) |
Fair value of fixed maturity securities | 18,125 | 20,410 |
U.S. Treasury, U.S. government corporations and agencies [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Amortized cost of fixed maturity securities | 3,358 | 3,348 |
Unrealized gains on fixed maturity securities | 30 | 55 |
Fair value of fixed maturity securities | 3,388 | 3,403 |
Foreign governments [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Amortized cost of fixed maturity securities | 12,407 | 11,233 |
Unrealized gains on fixed maturity securities | 38 | 110 |
Unrealized losses on fixed maturity securities | (27) | (5) |
Fair value of fixed maturity securities | 12,418 | 11,338 |
Corporate bonds [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Amortized cost of fixed maturity securities | 1,510 | 4,729 |
Unrealized gains on fixed maturity securities | 431 | 464 |
Unrealized losses on fixed maturity securities | (2) | |
Fair value of fixed maturity securities | 1,941 | 5,191 |
Other [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Amortized cost of fixed maturity securities | 327 | 414 |
Unrealized gains on fixed maturity securities | 52 | 66 |
Unrealized losses on fixed maturity securities | (1) | (2) |
Fair value of fixed maturity securities | $ 378 | $ 478 |
Investments in fixed maturity_4
Investments in fixed maturity securities - Narrative (Detail) | Sep. 30, 2021 |
Foreign governments [Member] | AA or Higher Credit Rating [Member] | |
Summary of Investment Holdings [Line Items] | |
Percentage of fixed maturity investments by credit rating | 90.00% |
Investments in fixed maturity_5
Investments in fixed maturity securities - Amortized cost and estimated fair value of securities with fixed maturities (Detail) - USD ($) $ in Millions | Sep. 30, 2021 | Dec. 31, 2020 |
Summary of Investment Holdings [Line Items] | ||
Due in one year or less - amortized cost | $ 9,433 | |
Due after one year through five years - amortized cost | 7,225 | |
Due after five years through ten years - amortized cost | 487 | |
Due after ten years - amortized cost | 206 | |
Amortized cost of fixed maturity securities | 17,602 | $ 19,724 |
Due in one year or less - fair value | 9,436 | |
Due after one year through five years - fair value | 7,283 | |
Due after five years through ten years - fair value | 758 | |
Due after ten years - fair value | 350 | |
Fair value of fixed maturity securities | 18,125 | $ 20,410 |
Mortgage-backed securities [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Amortized cost of mortgage-backed securities | 251 | |
Fair value of mortgage-backed securities | $ 298 |
Investments in equity securit_3
Investments in equity securities (Detail) - USD ($) $ in Millions | Sep. 30, 2021 | Dec. 31, 2020 | ||
Summary of Investment Holdings [Line Items] | ||||
Cost Basis | $ 104,188 | $ 108,620 | ||
Net Unrealized Gains | 206,551 | 172,550 | ||
Fair Value | 310,739 | [1] | 281,170 | [2] |
Banks, insurance and finance [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Cost Basis | 26,809 | 26,312 | ||
Net Unrealized Gains | 60,931 | 40,167 | ||
Fair Value | 87,740 | 66,479 | ||
Consumer products [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Cost Basis | 34,973 | 34,747 | ||
Net Unrealized Gains | 119,421 | 111,583 | ||
Fair Value | 154,394 | 146,330 | ||
Commercial, industrial and other [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Cost Basis | 42,406 | 47,561 | ||
Net Unrealized Gains | 26,199 | 20,800 | ||
Fair Value | $ 68,605 | $ 68,361 | ||
[1] | Approximately 70% of the aggregate fair value was concentrated in four companies (American Express Company – $25.4 billion; Apple Inc. – $128.4 billion; Bank of America Corporation – $43.9 billion and The Coca-Cola Company – $21.0 billion). | |||
[2] | Approximately 68% of the aggregate fair value was concentrated in four companies (American Express Company – $18.3 billion; Apple Inc. – $120.4 billion; Bank of America Corporation – $31.3 billion and The Coca-Cola Company – $21.9 billion). |
Investments in equity securit_4
Investments in equity securities (Parenthetical) (Detail) $ in Millions | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2021USD ($)Company | Dec. 31, 2020USD ($)Company | |||
Summary of Investment Holdings [Line Items] | ||||
Fair value of investments | $ 310,739 | [1] | $ 281,170 | [2] |
American Express Company [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Fair value of investments | 25,400 | 18,300 | ||
Apple Inc. [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Fair value of investments | 128,400 | 120,400 | ||
Bank of America Corporation [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Fair value of investments | 43,900 | 31,300 | ||
The Coca-Cola Company [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Fair value of investments | $ 21,000 | $ 21,900 | ||
Equity Securities [Member] | American Express Company, Apple Inc., Bank of America Corporation and The Coca-Cola Company [Member] | Investment Concentration [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Concentration percentage | 70.00% | 68.00% | ||
Number of companies in concentration percentage | Company | 4 | 4 | ||
[1] | Approximately 70% of the aggregate fair value was concentrated in four companies (American Express Company – $25.4 billion; Apple Inc. – $128.4 billion; Bank of America Corporation – $43.9 billion and The Coca-Cola Company – $21.0 billion). | |||
[2] | Approximately 68% of the aggregate fair value was concentrated in four companies (American Express Company – $18.3 billion; Apple Inc. – $120.4 billion; Bank of America Corporation – $31.3 billion and The Coca-Cola Company – $21.9 billion). |
Investments in equity securit_5
Investments in equity securities - Narrative (Detail) - Investment Commitment [Member] $ / shares in Units, $ in Billions | 9 Months Ended |
Sep. 30, 2021USD ($)$ / sharesshares | |
Summary of Investment Holdings [Line Items] | |
Investment commitment description | Our equity security investments also include Occidental Corporation (“Occidental”) Cumulative Perpetual Preferred Stock with an aggregate liquidation value of $10 billion and warrants to purchase up to 83.86 million shares of Occidental common stock at an exercise price of $59.62 per share. The preferred stock accrues dividends at 8% per annum and is redeemable at the option of Occidental commencing in 2029 at a redemption price equal to 105% of the liquidation preference, plus any accumulated and unpaid dividends, or is mandatorily redeemable under specified events. Dividends on the preferred stock are payable in cash or, at Occidental’s option, in shares of Occidental common stock. The warrants are exercisable in whole or in part until one year after the redemption of the preferred stock. |
Occidental Corporation [Member] | |
Summary of Investment Holdings [Line Items] | |
Number of common shares that can be purchased | shares | 83,860,000 |
Exercise price for warrants, per share | $ / shares | $ 59.62 |
Occidental Corporation [Member] | Cumulative Perpetual Preferred Stock [Member] | |
Summary of Investment Holdings [Line Items] | |
Investment in preferred stock, liquidation value | $ | $ 10 |
Investment in preferred stock, stated dividend rate | 8.00% |
Investment in preferred stock, redemption year start | 2029 |
Investment in preferred stock, redemption price percentage of liquidation preference | 105.00% |
Equity method investments - Nar
Equity method investments - Narrative (Detail) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2021USD ($)StoreLocationshares | Mar. 31, 2021USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2021USD ($)StoreLocationshares | Sep. 30, 2020USD ($) | Dec. 31, 2020USD ($) | |
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method earnings (losses) | $ 377,000,000 | $ 290,000,000 | $ 775,000,000 | $ 333,000,000 | ||
Pilot Travel Centers LLC [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Number of retail | Store | 1,000 | 1,000 | ||||
Pilot Travel Centers LLC [Member] | U.S. States [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Number of places retail locations located | Location | 44 | 44 | ||||
Pilot Travel Centers LLC [Member] | Canadian Provinces [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Number of places retail locations located | Location | 6 | 6 | ||||
Pilot Travel Centers LLC [Member] | Berkshire Hathaway Inc. (Parent) [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership percentage | 38.60% | |||||
Pilot Travel Centers LLC [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Agreement to Acquire Additional Interest in 2023 [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Percentage of additional interest to be acquired | 41.40% | |||||
Haslam Family [Member] | Pilot Travel Centers LLC [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Majority ownership percentage | 50.10% | |||||
Haslam Family [Member] | Pilot Travel Centers LLC [Member] | Agreement to Acquire Additional Interest in 2023 [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership percentage | 20.00% | |||||
Third Party [Member] | Pilot Travel Centers LLC [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership percentage | 11.30% | |||||
The Kraft Heinz Company [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Number of shares owned | shares | 325,442,152 | 325,442,152 | ||||
Equity method investment ownership percentage | 26.50% | 26.50% | ||||
Equity method investments, fair value | $ 12,000,000,000 | $ 12,000,000,000 | $ 11,300,000,000 | |||
Equity method investments, carrying value | 13,300,000,000 | 13,300,000,000 | 13,300,000,000 | |||
Equity method earnings (losses) | $ 194,000,000 | $ 159,000,000 | 337,000,000 | (180,000,000) | ||
Impairment charges on equity investment | 850,000,000 | |||||
Common stock dividends received | $ 391,000,000 | 391,000,000 | ||||
Difference between carrying value and fair value percentage | 10.00% | 10.00% | ||||
Berkadia Commercial Mortgage LLC, Pilot Travel Centers LLC, and Electric Transmission Texas, LLC [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investments, carrying value | $ 3,400,000,000 | $ 3,400,000,000 | $ 4,000,000,000 | |||
Equity method earnings (losses) | 438,000,000 | $ 513,000,000 | ||||
Equity method investment distributions from other investees | $ 1,000,000,000 | |||||
Pilot Travel Centers LLC [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investment non-recurring distribution | $ 849,000,000 | |||||
Berkadia Commercial Mortgage LLC [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investment ownership percentage | 50.00% | 50.00% | ||||
Commercial paper outstanding | $ 1,470,000,000 | $ 1,470,000,000 | ||||
Berkadia Commercial Mortgage LLC [Member] | Commercial Paper [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Maximum outstanding balance of commercial paper borrowings | $ 1,500,000,000 | $ 1,500,000,000 | ||||
Berkadia Commercial Mortgage LLC [Member] | Jefferies Financial Group Inc. [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investment ownership percentage | 50.00% | 50.00% | ||||
Berkadia Commercial Mortgage LLC [Member] | Jefferies Financial Group Inc. [Member] | Commercial Paper [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Percentage of obligation to indemnify for any losses incurred under surety policy | 50.00% | |||||
Electric Transmission Texas, LLC [Member] | Berkshire Hathaway Energy Company Subsidiary [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investment ownership percentage | 50.00% | 50.00% | ||||
Electric Transmission Texas, LLC [Member] | American Electric Power [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investment ownership percentage | 50.00% | 50.00% |
Equity method investments - Una
Equity method investments - Unaudited financial information (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 25, 2021 | Dec. 31, 2020 | Dec. 26, 2020 | |
Schedule of Equity Method Investments [Line Items] | |||||||
Assets | $ 920,758 | $ 920,758 | $ 873,729 | ||||
Liabilities | 439,683 | 439,683 | $ 422,393 | ||||
Sales | 70,583 | $ 63,024 | 204,296 | $ 181,129 | |||
The Kraft Heinz Company [Member] | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Assets | $ 94,897 | $ 99,830 | |||||
Liabilities | $ 44,659 | $ 49,587 | |||||
Sales | 6,324 | 6,441 | 19,333 | 19,246 | |||
Net earnings (loss) attributable to Kraft Heinz common shareholders | $ 733 | $ 597 | $ 1,269 | $ (676) |
Equity method investments - U_2
Equity method investments - Unaudited financial information (Parenthetical) (Detail) $ in Billions | 9 Months Ended |
Sep. 30, 2020USD ($) | |
The Kraft Heinz Company [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Goodwill and intangible asset impairment | $ 3.2 |
Investment and derivative con_3
Investment and derivative contract gains/losses (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Investments Debt And Equity Securities [Abstract] | ||||
Equity securities - Change in unrealized investment gains (losses) during the period on securities held at the end of the period | $ 4,759 | $ 30,837 | $ 36,163 | $ 16,458 |
Equity securities - Investment gains (losses) on securities sold during the period | 75 | 1,330 | 889 | (13,901) |
Equity securities - Investment gains (losses), total | 4,834 | 32,167 | 37,052 | 2,557 |
Fixed maturity securities - Gross realized gains | 24 | 12 | 59 | 53 |
Fixed maturity securities - Gross realized losses | (7) | (2) | (20) | (22) |
Other | (552) | 144 | (556) | |
Investment gains (losses) | 4,851 | 31,625 | 37,235 | 2,032 |
Derivative contract gains (losses) | 70 | (43) | 780 | (640) |
Investment and derivative contract gains (losses) | $ 4,921 | $ 31,582 | $ 38,015 | $ 1,392 |
Investment and derivative con_4
Investment and derivative contract gains/losses - Narrative (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Schedule Of Gain Loss On Investments Including Marketable Securities And Investments Held At Cost Income Statement Reported Amounts Summary [Line Items] | ||||
Sales of equity securities | $ 11,975 | $ 28,564 | ||
Taxable gains on sales of equity securities | $ 941 | $ 3,900 | $ 2,900 | $ 666 |
Not Designated as Hedging Instrument [Member] | Equity Index Put Options [Member] | ||||
Schedule Of Gain Loss On Investments Including Marketable Securities And Investments Held At Cost Income Statement Reported Amounts Summary [Line Items] | ||||
Derivative maturity month and year | 2023-02 | |||
Premiums received at contract inception dates | $ 1,500 | $ 1,500 |
Derivative contract (Detail)
Derivative contract (Detail) - Not Designated as Hedging Instrument [Member] - Equity Index Put Options [Member] - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Derivative [Line Items] | ||
Derivative contract liabilities | $ 286 | $ 1,065 |
Notional value | 8,251 | 10,991 |
Intrinsic value | $ 83 | $ 727 |
Weighted average remaining life (in years) | 7 months 6 days | 1 year 2 months 12 days |
Loans and finance receivables_2
Loans and finance receivables (Detail) - USD ($) $ in Millions | Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Dec. 31, 2019 |
Receivables [Abstract] | ||||
Loans and finance receivables before allowances and discounts | $ 21,685 | $ 20,436 | ||
Allowances for uncollectible loans | (744) | (712) | $ (731) | $ (167) |
Unamortized acquisition discounts and points | (544) | (523) | ||
Loans and finance receivables | $ 20,397 | $ 19,201 |
Loans and finance receivables -
Loans and finance receivables - Schedule of reconciliation of allowance for credit losses on loans and finance receivables (Detail) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Allowance For Credit Loss [Abstract] | ||
Balance at beginning of year | $ 712 | $ 167 |
Adoption of ASC 326 | 486 | |
Provision for credit losses | 65 | 177 |
Charge-offs, net of recoveries | (33) | (99) |
Balance at September 30 | $ 744 | $ 731 |
Loans and finance receivables_3
Loans and finance receivables - Narrative (Detail) - USD ($) | 9 Months Ended | |
Sep. 30, 2021 | Dec. 31, 2020 | |
Seritage Growth Properties [Member] | Term Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Term loan facility amount | $ 2,000,000,000 | |
Expiration date of term loan | Jul. 31, 2023 | |
Outstanding loan balance | $ 1,600,000,000 | $ 1,600,000,000 |
Lee Enterprises, Inc. [Member] | Term Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding loan balance | $ 483,000,000 | $ 524,000,000 |
Manufactured Housing Loan Balances [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Percent of manufactured housing loan balances evaluated collectively for impairment | 99.00% | |
Percent of loan balances considered to be current as to payment status | 97.00% |
Loans and finance receivables_4
Loans and finance receivables - Summary of performing and non-performing home loans before discounts and allowances by year of loan origination (Detail) - USD ($) $ in Millions | Sep. 30, 2021 | Dec. 31, 2020 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and financing receivables by origination year, Total | $ 21,685 | $ 20,436 |
Manufactured Housing Loan Balances [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and financing receivables by origination year, 2021 | 3,796 | |
Loans and financing receivables by origination year, 2020 | 3,267 | |
Loans and financing receivables by origination year, 2019 | 2,314 | |
Loans and financing receivables by origination year, 2018 | 1,754 | |
Loans and financing receivables by origination year, 2017 | 1,305 | |
Loans and financing receivables by origination year, Prior | 7,166 | |
Loans and financing receivables by origination year, Total | 19,602 | |
Performing [Member] | Manufactured Housing Loan Balances [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and financing receivables by origination year, 2021 | 3,794 | |
Loans and financing receivables by origination year, 2020 | 3,264 | |
Loans and financing receivables by origination year, 2019 | 2,308 | |
Loans and financing receivables by origination year, 2018 | 1,748 | |
Loans and financing receivables by origination year, 2017 | 1,300 | |
Loans and financing receivables by origination year, Prior | 7,126 | |
Loans and financing receivables by origination year, Total | 19,540 | |
Non-Performing [Member] | Manufactured Housing Loan Balances [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and financing receivables by origination year, 2021 | 2 | |
Loans and financing receivables by origination year, 2020 | 3 | |
Loans and financing receivables by origination year, 2019 | 6 | |
Loans and financing receivables by origination year, 2018 | 6 | |
Loans and financing receivables by origination year, 2017 | 5 | |
Loans and financing receivables by origination year, Prior | 40 | |
Loans and financing receivables by origination year, Total | $ 62 |
Other receivables (Detail)
Other receivables (Detail) - USD ($) $ in Millions | Sep. 30, 2021 | Dec. 31, 2020 |
Insurance and Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Insurance premiums receivable | $ 16,151 | $ 14,025 |
Reinsurance recoverables | 4,892 | 4,805 |
Trade receivables | 13,579 | 11,521 |
Other | 3,344 | 2,637 |
Allowances for uncollectible accounts | (689) | (678) |
Other receivables | 37,277 | 32,310 |
Railroad, Utilities and Energy [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Trade receivables | 3,780 | 3,235 |
Other | 720 | 438 |
Allowances for uncollectible accounts | (176) | (131) |
Receivables | $ 4,324 | $ 3,542 |
Other receivables - Narrative (
Other receivables - Narrative (Detail) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Receivables [Abstract] | ||
Provisions for credit losses on receivables | $ 335 | $ 449 |
Charge-offs, net of recoveries | $ 279 | $ 238 |
Inventories (Detail)
Inventories (Detail) - USD ($) $ in Millions | Sep. 30, 2021 | Dec. 31, 2020 |
Inventory Disclosure [Abstract] | ||
Raw materials | $ 5,389 | $ 4,821 |
Work in process and other | 3,290 | 2,541 |
Finished manufactured goods | 4,446 | 4,412 |
Goods acquired for resale | 7,066 | 7,434 |
Total inventory | $ 20,191 | $ 19,208 |
Property, plant and equipment (
Property, plant and equipment (Detail) - USD ($) $ in Millions | Sep. 30, 2021 | Dec. 31, 2020 |
Insurance and Other [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | $ 44,365 | $ 43,817 |
Property, plant and equipment, accumulated depreciation | (23,643) | (22,617) |
Total property, plant and equipment, net | 20,722 | 21,200 |
Insurance and Other [Member] | Land, buildings and improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 13,846 | 13,799 |
Insurance and Other [Member] | Machinery and equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 25,849 | 25,488 |
Insurance and Other [Member] | Furniture, fixtures and other [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 4,670 | 4,530 |
Railroad [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 79,981 | 78,263 |
Property, plant and equipment, accumulated depreciation | (14,641) | (13,175) |
Total property, plant and equipment, net | 65,340 | 65,088 |
Railroad [Member] | Land, track structure and other roadway [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 65,167 | 63,824 |
Railroad [Member] | Locomotives, freight cars and other equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 13,784 | 13,523 |
Railroad [Member] | Construction in progress [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 1,030 | 916 |
Utilities and Energy [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 123,422 | 119,376 |
Property, plant and equipment, accumulated depreciation | (35,361) | (33,248) |
Total property, plant and equipment, net | 88,061 | 86,128 |
Utilities and Energy [Member] | Utility generation, transmission and distribution systems [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 89,026 | 86,730 |
Utilities and Energy [Member] | Interstate natural gas pipeline assets [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 17,044 | 16,667 |
Utilities and Energy [Member] | Independent power plants and other assets [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 13,009 | 12,671 |
Utilities and Energy [Member] | Construction in progress [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 4,343 | 3,308 |
Railroad, Utilities and Energy [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property, plant and equipment, net | $ 153,401 | $ 151,216 |
Property, plant and equipment -
Property, plant and equipment - Depreciation expense (Detail) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Property, Plant and Equipment [Line Items] | ||
Depreciation expense | $ 6,210 | $ 5,830 |
Insurance and Other [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Depreciation expense | 1,725 | 1,725 |
Railroad, Utilities and Energy [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Depreciation expense | $ 4,485 | $ 4,105 |
Equipment held for lease (Detai
Equipment held for lease (Detail) - USD ($) $ in Millions | Sep. 30, 2021 | Dec. 31, 2020 |
Property Subject to or Available for Operating Lease [Line Items] | ||
Equipment held for lease, gross | $ 23,365 | $ 22,474 |
Equipment held for lease, accumulated depreciation | (8,613) | (7,873) |
Equipment held for lease, net | 14,752 | 14,601 |
Railcars [Member] | ||
Property Subject to or Available for Operating Lease [Line Items] | ||
Equipment held for lease, gross | 9,482 | 9,402 |
Aircraft [Member] | ||
Property Subject to or Available for Operating Lease [Line Items] | ||
Equipment held for lease, gross | 8,852 | 8,204 |
Other [Member] | ||
Property Subject to or Available for Operating Lease [Line Items] | ||
Equipment held for lease, gross | $ 5,031 | $ 4,868 |
Equipment held for lease - Narr
Equipment held for lease - Narrative (Detail) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Leases [Abstract] | ||
Depreciation expense for equipment held for lease | $ 861 | $ 900 |
Equipment held for lease - Summ
Equipment held for lease - Summary of fixed and variable operating lease revenues (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Operating Leases Lease Income [Abstract] | ||||
Fixed lease revenue | $ 1,151 | $ 1,047 | $ 3,318 | $ 3,205 |
Variable lease revenue | 414 | 269 | 1,018 | 700 |
Total | $ 1,565 | $ 1,316 | $ 4,336 | $ 3,905 |
Goodwill and other intangible_3
Goodwill and other intangible assets - Goodwill (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Jun. 30, 2020 | Sep. 30, 2021 | Dec. 31, 2020 | |||
Goodwill And Intangible Assets Disclosure [Abstract] | |||||
Balance at beginning of year | $ 73,734 | [1] | $ 81,882 | ||
Acquisitions of businesses | 182 | 1,758 | |||
Impairment charges | $ (10,000) | (10,033) | |||
Other, including foreign currency translation | (146) | 127 | |||
Balance at end of period | [1] | $ 73,770 | $ 73,734 | ||
[1] | Net of accumulated goodwill impairments of $11.0 billion as of September 30, 2021 and December 31, 2020. |
Goodwill and other intangible_4
Goodwill and other intangible assets - Goodwill (Parenthetical) (Detail) - USD ($) $ in Billions | Sep. 30, 2021 | Dec. 31, 2020 |
Goodwill And Intangible Assets Disclosure [Abstract] | ||
Accumulated goodwill impairments | $ 11 | $ 11 |
Goodwill and other intangible_5
Goodwill and other intangible assets - Intangible assets (Detail) - USD ($) $ in Millions | Sep. 30, 2021 | Dec. 31, 2020 |
Insurance and Other [Member] | ||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | $ 40,589 | $ 40,685 |
Accumulated amortization | 11,946 | 11,223 |
Railroad, Utilities and Energy [Member] | ||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 1,683 | 1,681 |
Accumulated amortization | 521 | 459 |
Trademarks and trade names [Member] | Insurance and Other [Member] | ||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 5,178 | 5,206 |
Accumulated amortization | 797 | 779 |
Customer relationships [Member] | Insurance and Other [Member] | ||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 27,331 | 27,374 |
Accumulated amortization | 6,281 | 5,756 |
Customer relationships [Member] | Railroad, Utilities and Energy [Member] | ||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 678 | 678 |
Accumulated amortization | 388 | 361 |
Other intangible assets [Member] | Insurance and Other [Member] | ||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 3,317 | 3,339 |
Accumulated amortization | 1,426 | 1,375 |
Trademarks, Trade Names and Other [Member] | Railroad, Utilities and Energy [Member] | ||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 1,005 | 1,003 |
Accumulated amortization | 133 | 98 |
Patents and technology [Member] | Insurance and Other [Member] | ||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 4,763 | 4,766 |
Accumulated amortization | $ 3,442 | $ 3,313 |
Goodwill and other intangible_6
Goodwill and other intangible assets - Intangible assets - Narrative (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | |
Jun. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Goodwill [Line Items] | ||||
Intangible asset amortization expense | $ 942 | $ 962 | ||
Intangible assets with indefinite lives, excluding goodwill | $ 18,300 | $ 18,300 | ||
Pre tax goodwill impairment | $ 10,000 | $ 10,033 | ||
Pre tax intangible assets impairment charges | 638 | |||
PCC [Member] | ||||
Goodwill [Line Items] | ||||
Pre tax impairment charges | 10,000 | |||
Goodwill and indefinite-lived intangible assets | $ 31,000 |
Unpaid losses and loss adjust_3
Unpaid losses and loss adjustment expenses - Reconciliation of changes in claim liabilities (Detail) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Liability for Claims and Claims Adjustment Expense [Line Items] | ||
Gross liabilities at beginning of year | $ 79,854 | $ 73,019 |
Reinsurance recoverable on unpaid losses at beginning of year | (2,912) | (2,855) |
Net liabilities at beginning of year | 76,942 | 70,164 |
Net liabilities at end of period | 82,766 | 75,184 |
Reinsurance recoverable on unpaid losses at end of period | 2,988 | 2,857 |
Gross liabilities at end of period | 85,754 | 78,041 |
Property and Casualty Insurance and Reinsurance, Excluding Retroactive Reinsurance [Member] | ||
Liability for Claims and Claims Adjustment Expense [Line Items] | ||
Incurred losses and loss adjustment expenses, current accident year events | 38,447 | 31,777 |
Incurred losses and loss adjustment expenses, prior accident years' events | (2,151) | 69 |
Total | 36,296 | 31,846 |
Paid losses and loss adjustment expenses, current accident year events | (15,277) | (11,691) |
Paid losses and loss adjustment expenses, prior accident years' events | (15,076) | (15,259) |
Total | (30,353) | (26,950) |
Foreign currency translation adjustment | $ (119) | $ 124 |
Unpaid losses and loss adjust_4
Unpaid losses and loss adjustment expenses - Narrative (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | |
Property and Casualty Reinsurance [Member] | |||
Liability for Claims and Claims Adjustment Expense [Line Items] | |||
Incurred losses and loss adjustment expenses for (reductions of) prior years' accident events | $ (564,000,000) | $ 342,000,000 | |
Property and Casualty Insurance and Reinsurance, Excluding Retroactive Reinsurance [Member] | |||
Liability for Claims and Claims Adjustment Expense [Line Items] | |||
Incurred losses and loss adjustment expenses with respect to current accident year events | 38,447,000,000 | 31,777,000,000 | |
Incurred losses and loss adjustment expenses for (reductions of) prior years' accident events | $ (2,151,000,000) | $ 69,000,000 | |
Prior years' losses incurred as a percentage of net liabilities | 2.80% | 0.10% | |
Property and Casualty Insurance and Reinsurance, Excluding Retroactive Reinsurance [Member] | Significant Catastrophe Events [Member] | |||
Liability for Claims and Claims Adjustment Expense [Line Items] | |||
Minimum losses per significant event in current accident year | $ 100,000,000 | ||
Property and Casualty Insurance and Reinsurance, Excluding Retroactive Reinsurance [Member] | Significant Catastrophe Events [Member] | U.S. and Europe [Member] | |||
Liability for Claims and Claims Adjustment Expense [Line Items] | |||
Incurred losses and loss adjustment expenses with respect to current accident year events | $ 2,200,000,000 | 2,700,000,000 | |
Primary Insurance [Member] | |||
Liability for Claims and Claims Adjustment Expense [Line Items] | |||
Incurred losses and loss adjustment expenses for (reductions of) prior years' accident events | $ (1,600,000,000) | $ (273,000,000) |
Retroactive reinsurance contr_3
Retroactive reinsurance contracts - Reconciliation of changes in claim liabilities and deferred charges (Detail) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Liability for Claims and Claims Adjustment Expense [Line Items] | ||
Unpaid losses and loss adjustment expenses, beginning of year | $ 40,966 | $ 42,441 |
Unpaid losses and loss adjustment expenses, end of year | 39,721 | 41,786 |
Deferred charges reinsurance assumed, beginning of year | (12,441) | (13,747) |
Deferred charges reinsurance assumed, end of year | (11,732) | (13,012) |
Retroactive Reinsurance [Member] | ||
Liability for Claims and Claims Adjustment Expense [Line Items] | ||
Incurred losses and loss adjustment expenses, prior accident years' events | 700 | 866 |
Total incurred losses and loss adjustment expenses | 782 | 866 |
Unpaid Losses and Loss Adjustment Expenses [Member] | Retroactive Reinsurance [Member] | ||
Liability for Claims and Claims Adjustment Expense [Line Items] | ||
Incurred losses and loss adjustment expenses with respect to current accident year events | 82 | |
Incurred losses and loss adjustment expenses, prior accident years' events | (9) | 131 |
Total incurred losses and loss adjustment expenses | 73 | 131 |
Paid losses and loss adjustment expenses | (1,318) | (786) |
Deferred Charges Reinsurance Assumed [Member] | Retroactive Reinsurance [Member] | ||
Liability for Claims and Claims Adjustment Expense [Line Items] | ||
Incurred losses and loss adjustment expenses, prior accident years' events | 709 | 735 |
Total incurred losses and loss adjustment expenses | $ 709 | $ 735 |
Retroactive reinsurance contr_4
Retroactive reinsurance contracts - Narrative (Detail) - USD ($) $ in Millions | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Effects Of Reinsurance [Line Items] | ||||
Unpaid losses and loss adjustment expenses under retroactive reinsurance contracts | $ 39,721 | $ 41,786 | $ 40,966 | $ 42,441 |
Deferred charges under retroactive reinsurance contracts | 11,732 | 13,012 | 12,441 | $ 13,747 |
Retroactive Reinsurance [Member] | ||||
Effects Of Reinsurance [Line Items] | ||||
Incurred losses and loss adjustment expenses for (reductions of) prior years' accident events | 700 | $ 866 | ||
NICO [Member] | AIG [Member] | Retroactive Reinsurance [Member] | ||||
Effects Of Reinsurance [Line Items] | ||||
Maximum contractual liability under contract | 20,000 | |||
Unpaid losses and loss adjustment expenses under retroactive reinsurance contracts | 16,800 | 17,700 | ||
Retroactive reinsurance contracts, claims paid | 837 | |||
Deferred charges under retroactive reinsurance contracts | $ 5,000 | $ 5,400 |
Notes payable and other borro_3
Notes payable and other borrowings (Detail) £ in Millions, $ in Millions, € in Billions, ¥ in Billions | 9 Months Ended | ||||
Sep. 30, 2021USD ($) | Sep. 30, 2021EUR (€) | Sep. 30, 2021JPY (¥) | Sep. 30, 2021GBP (£) | Dec. 31, 2020USD ($) | |
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | € 6.9 | ¥ 785.5 | £ 1,750 | ||
Insurance and Other [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | $ 39,645 | $ 41,522 | |||
Insurance and Other [Member] | Berkshire Hathaway Inc. (Parent) [Member] | U.S. Dollar Denominated [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | $ 6,817 | 8,308 | |||
Weighted average interest rate, percentage | 3.30% | 3.30% | 3.30% | 3.30% | |
Insurance and Other [Member] | Berkshire Hathaway Inc. (Parent) [Member] | U.S. Dollar Denominated [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2022 | ||||
Insurance and Other [Member] | Berkshire Hathaway Inc. (Parent) [Member] | U.S. Dollar Denominated [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2047 | ||||
Insurance and Other [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Euro Denominated [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | $ 7,934 | 8,326 | |||
Weighted average interest rate, percentage | 1.00% | 1.00% | 1.00% | 1.00% | |
Insurance and Other [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Euro Denominated [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2023 | ||||
Insurance and Other [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Euro Denominated [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2041 | ||||
Insurance and Other [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Japanese Yen Denominated [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | $ 7,028 | 6,031 | |||
Weighted average interest rate, percentage | 0.60% | 0.60% | 0.60% | 0.60% | |
Insurance and Other [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Japanese Yen Denominated [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2023 | ||||
Insurance and Other [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Japanese Yen Denominated [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2060 | ||||
Insurance and Other [Member] | Subsidiaries [Member] | |||||
Debt Instrument [Line Items] | |||||
Other borrowings | $ 4,497 | 4,682 | |||
Short-term debt | $ 297 | 1,062 | |||
Weighted average interest rate, percentage | 4.10% | 4.10% | 4.10% | 4.10% | |
Short-term borrowings, weighted average interest rate | 2.80% | 2.80% | 2.80% | 2.80% | |
Insurance and Other [Member] | Subsidiaries [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2021 | ||||
Insurance and Other [Member] | Subsidiaries [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2045 | ||||
Insurance and Other [Member] | Subsidiaries [Member] | U.S. Dollar Denominated [Member] | Berkshire Hathaway Finance Corporation [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | $ 10,757 | 10,766 | |||
Weighted average interest rate, percentage | 3.60% | 3.60% | 3.60% | 3.60% | |
Insurance and Other [Member] | Subsidiaries [Member] | U.S. Dollar Denominated [Member] | Berkshire Hathaway Finance Corporation [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2022 | ||||
Insurance and Other [Member] | Subsidiaries [Member] | U.S. Dollar Denominated [Member] | Berkshire Hathaway Finance Corporation [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2051 | ||||
Insurance and Other [Member] | Subsidiaries [Member] | Great Britain Pound Denominated [Member] | Berkshire Hathaway Finance Corporation [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | $ 2,315 | 2,347 | |||
Weighted average interest rate, percentage | 2.50% | 2.50% | 2.50% | 2.50% | |
Insurance and Other [Member] | Subsidiaries [Member] | Great Britain Pound Denominated [Member] | Berkshire Hathaway Finance Corporation [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2039 | ||||
Insurance and Other [Member] | Subsidiaries [Member] | Great Britain Pound Denominated [Member] | Berkshire Hathaway Finance Corporation [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2059 | ||||
Railroad, Utilities and Energy [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | $ 75,320 | 75,373 | |||
Railroad, Utilities and Energy [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy [Member] | |||||
Debt Instrument [Line Items] | |||||
Weighted average interest rate, percentage | 4.30% | 4.30% | 4.30% | 4.30% | |
Senior unsecured debt | $ 13,001 | 13,447 | |||
Railroad, Utilities and Energy [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2023 | ||||
Railroad, Utilities and Energy [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2051 | ||||
Railroad, Utilities and Energy [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy Subsidiaries [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | $ 37,096 | 36,420 | |||
Weighted average interest rate, percentage | 4.10% | 4.10% | 4.10% | 4.10% | |
Railroad, Utilities and Energy [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy Subsidiaries [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2021 | ||||
Railroad, Utilities and Energy [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy Subsidiaries [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2064 | ||||
Railroad, Utilities and Energy [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy and Subsidiaries [Member] | |||||
Debt Instrument [Line Items] | |||||
Short-term debt | $ 1,968 | 2,286 | |||
Short-term borrowings, weighted average interest rate | 1.60% | 1.60% | 1.60% | 1.60% | |
Railroad, Utilities and Energy [Member] | Subsidiaries [Member] | Burlington Northern Santa Fe ("BNSF") and subsidiaries [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | $ 23,255 | $ 23,220 | |||
Weighted average interest rate, percentage | 4.50% | 4.50% | 4.50% | 4.50% | |
Railroad, Utilities and Energy [Member] | Subsidiaries [Member] | Burlington Northern Santa Fe ("BNSF") and subsidiaries [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2021 | ||||
Railroad, Utilities and Energy [Member] | Subsidiaries [Member] | Burlington Northern Santa Fe ("BNSF") and subsidiaries [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2097 |
Notes payable and other borro_4
Notes payable and other borrowings - Narrative (Detail) € in Millions, £ in Millions, $ in Millions, ¥ in Billions | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||||||||
Apr. 30, 2021USD ($) | Apr. 30, 2021JPY (¥) | Jan. 31, 2021EUR (€) | Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2020EUR (€) | Sep. 30, 2021EUR (€) | Sep. 30, 2021JPY (¥) | Sep. 30, 2021GBP (£) | Dec. 31, 2020USD ($) | |
Debt Instrument [Line Items] | ||||||||||||
Notes payable and other borrowings | € 6,900 | ¥ 785.5 | £ 1,750 | |||||||||
Senior Notes [Member] | Notes Due Ranging From 2026-2041 at 0.5% [Member] | Berkshire Hathaway Inc. (Parent) [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Principal amount of debt issued | $ 1,500 | ¥ 160 | ||||||||||
Weighted average interest rate, percentage | 0.50% | 0.50% | ||||||||||
Minimum [Member] | Senior Notes [Member] | Notes Due Ranging From 2026-2041 at 0.5% [Member] | Berkshire Hathaway Inc. (Parent) [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Debt maturity year | 2026 | 2026 | ||||||||||
Maximum [Member] | Senior Notes [Member] | Notes Due Ranging From 2026-2041 at 0.5% [Member] | Berkshire Hathaway Inc. (Parent) [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Debt maturity year | 2041 | 2041 | ||||||||||
Insurance and Other [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Notes payable and other borrowings | $ 39,645 | $ 39,645 | $ 41,522 | |||||||||
Insurance and Other [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Subsidiaries Excluding Berkshire Hathaway Finance Corporation [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Guarantee obligation | $ 3,900 | $ 3,900 | ||||||||||
Insurance and Other [Member] | Subsidiaries [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Weighted average interest rate, percentage | 4.10% | 4.10% | 4.10% | 4.10% | 4.10% | |||||||
Insurance and Other [Member] | Senior Notes [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Berkshire Hathaway Finance Corporation [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Gains (loss) attributable to changes in foreign currency exchange rates | $ 264 | $ (549) | $ 939 | $ (447) | ||||||||
Insurance and Other [Member] | Senior Notes [Member] | Notes Due 2041 at 0.5% [Member] | Berkshire Hathaway Inc. (Parent) [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Repayments of borrowings | $ 1,500 | € 550 | ||||||||||
Principal amount of debt issued | € | € 600 | |||||||||||
Debt instrument, interest rate, stated percentage | 0.50% | |||||||||||
Debt maturity year | 2041 | |||||||||||
Insurance and Other [Member] | Senior Notes [Member] | Notes Due 2051 at 2.5% [Member] | Subsidiaries [Member] | Berkshire Hathaway Finance Corporation [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Repayments of borrowings | 750 | |||||||||||
Principal amount of debt issued | $ 750 | |||||||||||
Debt instrument, interest rate, stated percentage | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | |||||||
Debt maturity year | 2051 | |||||||||||
Insurance and Other [Member] | Minimum [Member] | Subsidiaries [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Debt maturity year | 2021 | |||||||||||
Insurance and Other [Member] | Maximum [Member] | Subsidiaries [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Debt maturity year | 2045 | |||||||||||
Railroad, Utilities and Energy [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Notes payable and other borrowings | $ 75,320 | $ 75,320 | $ 75,373 | |||||||||
Railroad, Utilities and Energy [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy and Subsidiaries [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Repayments of borrowings | 1,700 | |||||||||||
Railroad, Utilities and Energy [Member] | Notes Due Ranging From 2051-2052 at 3.0% [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy and Subsidiaries [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Principal amount of debt issued | $ 2,100 | |||||||||||
Weighted average interest rate, percentage | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | |||||||
Railroad, Utilities and Energy [Member] | Senior Unsecured Debenture [Member] | Subsidiaries [Member] | BNSF [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Repayments of borrowings | $ 888 | |||||||||||
Principal amount of debt issued | $ 925 | |||||||||||
Debt instrument, interest rate, stated percentage | 3.30% | 3.30% | 3.30% | 3.30% | 3.30% | |||||||
Debt maturity year | 2051 | |||||||||||
Railroad, Utilities and Energy [Member] | Minimum [Member] | Notes Due Ranging From 2051-2052 at 3.0% [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy and Subsidiaries [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Debt maturity year | 2051 | |||||||||||
Railroad, Utilities and Energy [Member] | Maximum [Member] | Notes Due Ranging From 2051-2052 at 3.0% [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy and Subsidiaries [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Debt maturity year | 2052 |
Notes payable and other borro_5
Notes payable and other borrowings - Credit agreements - Narrative (Detail) - Line of Credit and Commercial Paper Facilities [Member] - Subsidiaries [Member] $ in Billions | Sep. 30, 2021USD ($) |
Line of Credit Facility [Line Items] | |
Unused lines of credit available | $ 10.5 |
Berkshire Hathaway Energy and Subsidiaries [Member] | |
Line of Credit Facility [Line Items] | |
Unused lines of credit available | $ 8.8 |
Fair value measurements - Finan
Fair value measurements - Financial assets and liabilities (Detail) £ in Millions, $ in Millions, € in Billions, ¥ in Billions | Sep. 30, 2021USD ($) | Sep. 30, 2021EUR (€) | Sep. 30, 2021JPY (¥) | Sep. 30, 2021GBP (£) | Dec. 31, 2020USD ($) | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Investments in fixed maturity securities | $ 18,125 | $ 20,410 | ||||||
Investments in equity securities | 310,739 | [1] | 281,170 | [2] | ||||
Notes payable and other borrowings - carrying value | € 6.9 | ¥ 785.5 | £ 1,750 | |||||
Railroad, Utilities and Energy [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Notes payable and other borrowings - carrying value | 75,320 | 75,373 | ||||||
Insurance and Other [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Investments in fixed maturity securities | 18,125 | 20,410 | ||||||
Investments in equity securities | 310,739 | 281,170 | ||||||
Equity method investments - carrying value | 16,658 | 17,303 | ||||||
Derivative contract liabilities | 286 | 1,065 | ||||||
Notes payable and other borrowings - carrying value | 39,645 | 41,522 | ||||||
The Kraft Heinz Company [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Equity method investments - carrying value | 13,300 | 13,300 | ||||||
Equity method investments | 12,000 | 11,300 | ||||||
U.S. Treasury, U.S. government corporations and agencies [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Investments in fixed maturity securities | 3,388 | 3,403 | ||||||
Foreign governments [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Investments in fixed maturity securities | 12,418 | 11,338 | ||||||
Corporate bonds [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Investments in fixed maturity securities | 1,941 | 5,191 | ||||||
Other [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Investments in fixed maturity securities | 378 | 478 | ||||||
Fair Value, Measurements, Recurring [Member] | Quoted Prices (Level 1) [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Investments in equity securities | 298,633 | 271,848 | ||||||
Fair Value, Measurements, Recurring [Member] | Quoted Prices (Level 1) [Member] | The Kraft Heinz Company [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Equity method investments | 11,983 | 11,280 | ||||||
Fair Value, Measurements, Recurring [Member] | Quoted Prices (Level 1) [Member] | U.S. Treasury, U.S. government corporations and agencies [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Investments in fixed maturity securities | 3,345 | 3,358 | ||||||
Fair Value, Measurements, Recurring [Member] | Quoted Prices (Level 1) [Member] | Foreign governments [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Investments in fixed maturity securities | 11,074 | 9,259 | ||||||
Fair Value, Measurements, Recurring [Member] | Quoted Prices (Level 1) [Member] | Other Assets [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Derivative contract assets | [3] | 15 | 1 | |||||
Fair Value, Measurements, Recurring [Member] | Quoted Prices (Level 1) [Member] | Accounts Payable, Accruals and Other Liabilities [Member] | Railroad, Utilities and Energy [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Derivative contract liabilities | [3] | 3 | 6 | |||||
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Investments in equity securities | 8 | 38 | ||||||
Loans and finance receivables | 2,391 | 2,692 | ||||||
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Railroad, Utilities and Energy [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Notes payable and other borrowings | 87,965 | 92,593 | ||||||
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Insurance and Other [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Notes payable and other borrowings | 42,810 | 46,665 | ||||||
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | U.S. Treasury, U.S. government corporations and agencies [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Investments in fixed maturity securities | 43 | 45 | ||||||
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Foreign governments [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Investments in fixed maturity securities | 1,344 | 2,079 | ||||||
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Corporate bonds [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Investments in fixed maturity securities | 1,941 | 5,191 | ||||||
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Other [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Investments in fixed maturity securities | 378 | 478 | ||||||
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Other Assets [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Derivative contract assets | [3] | 407 | 72 | |||||
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Accounts Payable, Accruals and Other Liabilities [Member] | Railroad, Utilities and Energy [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Derivative contract liabilities | [3] | 69 | 96 | |||||
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Investments in equity securities | 12,098 | 9,284 | ||||||
Loans and finance receivables | 19,352 | 17,862 | ||||||
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Insurance and Other [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Notes payable and other borrowings | 41 | 11 | ||||||
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Equity Index Put Options [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Derivative contract liabilities | 286 | 1,065 | ||||||
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Other Assets [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Derivative contract assets | [3] | 118 | 197 | |||||
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Accounts Payable, Accruals and Other Liabilities [Member] | Railroad, Utilities and Energy [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Derivative contract liabilities | [3] | 58 | 19 | |||||
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Investments in equity securities | 310,739 | 281,170 | ||||||
Loans and finance receivables | 20,397 | 19,201 | ||||||
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | Railroad, Utilities and Energy [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Notes payable and other borrowings | 75,320 | 75,373 | ||||||
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | Insurance and Other [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Notes payable and other borrowings | 39,645 | 41,522 | ||||||
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | Equity Index Put Options [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Derivative contract liabilities | 286 | 1,065 | ||||||
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | The Kraft Heinz Company [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Equity method investments | 13,290 | 13,336 | ||||||
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | U.S. Treasury, U.S. government corporations and agencies [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Investments in fixed maturity securities | 3,388 | 3,403 | ||||||
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | Foreign governments [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Investments in fixed maturity securities | 12,418 | 11,338 | ||||||
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | Corporate bonds [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Investments in fixed maturity securities | 1,941 | 5,191 | ||||||
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | Other [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Investments in fixed maturity securities | 378 | 478 | ||||||
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | Other Assets [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Derivative contract assets | [3] | 540 | 270 | |||||
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | Accounts Payable, Accruals and Other Liabilities [Member] | Railroad, Utilities and Energy [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Derivative contract liabilities | [3] | 130 | 121 | |||||
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Investments in equity securities | 310,739 | 281,170 | ||||||
Loans and finance receivables | 21,743 | 20,554 | ||||||
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | Railroad, Utilities and Energy [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Notes payable and other borrowings | 87,965 | 92,593 | ||||||
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | Insurance and Other [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Notes payable and other borrowings | 42,851 | 46,676 | ||||||
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | Equity Index Put Options [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Derivative contract liabilities | 286 | 1,065 | ||||||
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | The Kraft Heinz Company [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Equity method investments | 11,983 | 11,280 | ||||||
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | U.S. Treasury, U.S. government corporations and agencies [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Investments in fixed maturity securities | 3,388 | 3,403 | ||||||
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | Foreign governments [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Investments in fixed maturity securities | 12,418 | 11,338 | ||||||
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | Corporate bonds [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Investments in fixed maturity securities | 1,941 | 5,191 | ||||||
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | Other [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Investments in fixed maturity securities | 378 | 478 | ||||||
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | Other Assets [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Derivative contract assets | [3] | 540 | 270 | |||||
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | Accounts Payable, Accruals and Other Liabilities [Member] | Railroad, Utilities and Energy [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Derivative contract liabilities | [3] | $ 130 | $ 121 | |||||
[1] | Approximately 70% of the aggregate fair value was concentrated in four companies (American Express Company – $25.4 billion; Apple Inc. – $128.4 billion; Bank of America Corporation – $43.9 billion and The Coca-Cola Company – $21.0 billion). | |||||||
[2] | Approximately 68% of the aggregate fair value was concentrated in four companies (American Express Company – $18.3 billion; Apple Inc. – $120.4 billion; Bank of America Corporation – $31.3 billion and The Coca-Cola Company – $21.9 billion). | |||||||
[3] | Assets are included in other assets and liabilities are included in accounts payable, accruals and other liabilities. |
Fair value measurements - Signi
Fair value measurements - Significant unobservable inputs (Detail) - Significant Unobservable Inputs (Level 3) [Member] - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Equity Index Put Option Contract Liabilities [Member] | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Derivative contract liabilities - Beginning Balance | $ (1,065) | $ (968) |
Derivative contract liabilities - Gains (losses) included in earnings | 780 | (640) |
Derivative contract liabilities - Acquisitions, dispositions and settlements | (1) | 61 |
Derivative contract liabilities - Ending Balance | (286) | (1,547) |
Investments in Equity Securities [Member] | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Beginning Balance | 8,978 | 10,405 |
Gains (losses) included in earnings | 1,713 | (2,235) |
Acquisitions, dispositions and settlements | 1,100 | (1) |
Ending Balance | $ 11,791 | $ 8,169 |
Fair value measurements - Other
Fair value measurements - Other information (Detail) $ in Millions | 9 Months Ended | |||
Sep. 30, 2021USD ($) | Dec. 31, 2020USD ($) | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Fair value of investments | $ 310,739 | [1] | $ 281,170 | [2] |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [Member] | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Fair value of investments | 12,098 | $ 9,284 | ||
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [Member] | Option Pricing Model [Member] | Equity Index Put Option Contract Liabilities [Member] | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Derivative contract liabilities, fair value | 286 | |||
Significant Unobservable Inputs (Level 3) [Member] | Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member] | Discounted Cash Flow [Member] | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Fair value of investments | 11,179 | |||
Significant Unobservable Inputs (Level 3) [Member] | Common Stock Warrants [Member] | Fair Value, Measurements, Recurring [Member] | Warrant Pricing Model [Member] | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Fair value of investments | $ 612 | |||
Significant Unobservable Inputs (Level 3) [Member] | Expected Duration [Member] | Weighted Average [Member] | Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member] | Discounted Cash Flow [Member] | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Unobservable inputs, term | 7 years | |||
Significant Unobservable Inputs (Level 3) [Member] | Expected Duration [Member] | Weighted Average [Member] | Common Stock Warrants [Member] | Fair Value, Measurements, Recurring [Member] | Warrant Pricing Model [Member] | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Unobservable inputs, term | 8 years | |||
Significant Unobservable Inputs (Level 3) [Member] | Discount for Transferability Restrictions and Subordination [Member] | Weighted Average [Member] | Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member] | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Unobservable inputs | 0.0355 | |||
Significant Unobservable Inputs (Level 3) [Member] | Volatility [Member] | Weighted Average [Member] | Fair Value, Measurements, Recurring [Member] | Option Pricing Model [Member] | Equity Index Put Option Contract Liabilities [Member] | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Unobservable inputs | 0.18 | |||
Significant Unobservable Inputs (Level 3) [Member] | Volatility [Member] | Weighted Average [Member] | Common Stock Warrants [Member] | Fair Value, Measurements, Recurring [Member] | Warrant Pricing Model [Member] | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Unobservable inputs | 0.37 | |||
[1] | Approximately 70% of the aggregate fair value was concentrated in four companies (American Express Company – $25.4 billion; Apple Inc. – $128.4 billion; Bank of America Corporation – $43.9 billion and The Coca-Cola Company – $21.0 billion). | |||
[2] | Approximately 68% of the aggregate fair value was concentrated in four companies (American Express Company – $18.3 billion; Apple Inc. – $120.4 billion; Bank of America Corporation – $31.3 billion and The Coca-Cola Company – $21.9 billion). |
Common stock - Narrative (Detai
Common stock - Narrative (Detail) | 9 Months Ended | |
Sep. 30, 2021USD ($)Voteshares | Dec. 31, 2020shares | |
Class of Stock [Line Items] | ||
Preferred Stock, shares authorized | 1,000,000 | |
Preferred Stock, shares issued | 0 | |
Economic equivalent of Class B share to Class A share | 0.0667% | |
Common Stock Repurchase Program [Member] | ||
Class of Stock [Line Items] | ||
Shares repurchase, authorization description | Berkshire’s common stock repurchase program permits Berkshire to repurchase its Class A and Class B shares any time that Warren Buffett, Berkshire’s Chairman of the Board and Chief Executive Officer, and Charlie Munger, Vice Chairman of the Board, believe that the repurchase price is below Berkshire’s intrinsic value, conservatively determined. | |
Minimum cash, cash equivalents and U.S. Treasury Bills threshold after repurchase of common stock shares, amount | $ | $ 30,000,000,000 | |
Class A [Member] | ||
Class of Stock [Line Items] | ||
Number of votes entitled per share, number | Vote | 1 | |
Shares outstanding | 620,797 | 643,931 |
Class B [Member] | ||
Class of Stock [Line Items] | ||
Number of votes entitled per share, number | Vote | 0.0001 | |
Number of shares of Class B stock obtainable from converting one Class A share | 1,500 | |
Shares outstanding | 1,308,450,200 | 1,350,043,471 |
Equivalent Class A [Member] | ||
Class of Stock [Line Items] | ||
Shares outstanding | 1,493,097 | 1,543,960 |
Common stock (Detail)
Common stock (Detail) | 9 Months Ended |
Sep. 30, 2021shares | |
Class A [Member] | |
Class of Stock [Line Items] | |
Shares issued, beginning balance | 678,523 |
Treasury shares, beginning balance | (34,592) |
Shares outstanding, beginning balance | 643,931 |
Conversions of Class A to Class B common stock | (11,849) |
Treasury stock acquired | (11,285) |
Shares issued, ending balance | 666,674 |
Treasury shares, ending balance | (45,877) |
Shares outstanding, ending balance | 620,797 |
Class B [Member] | |
Class of Stock [Line Items] | |
Shares issued, beginning balance | 1,469,359,852 |
Treasury shares, beginning balance | (119,316,381) |
Shares outstanding, beginning balance | 1,350,043,471 |
Conversions of Class A to Class B common stock | 17,773,500 |
Treasury stock acquired | (59,366,771) |
Shares issued, ending balance | 1,487,133,352 |
Treasury shares, ending balance | (178,683,152) |
Shares outstanding, ending balance | 1,308,450,200 |
Common stock (Parenthetical) (D
Common stock (Parenthetical) (Detail) | Sep. 30, 2021$ / sharesshares |
Class A [Member] | |
Class of Stock [Line Items] | |
Common Stock, par value per share | $ / shares | $ 5 |
Common Stock, shares authorized | shares | 1,650,000 |
Class B [Member] | |
Class of Stock [Line Items] | |
Common Stock, par value per share | $ / shares | $ 0.0033 |
Common Stock, shares authorized | shares | 3,225,000,000 |
Income taxes - Narrative (Detai
Income taxes - Narrative (Detail) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Income Tax Disclosure [Abstract] | ||||
Effective income tax rate | 14.70% | 19.80% | 18.80% | 30.80% |
Accumulated other comprehensi_3
Accumulated other comprehensive income (Detail) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Balance at beginning of year | $ 443,164 | |
Other comprehensive income, net | (591) | $ 53 |
Balance at end of period | 472,480 | |
Unrealized appreciation of investments, net [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Balance at beginning of year | 536 | 481 |
Other comprehensive income, net | (126) | 29 |
Balance at end of period | 410 | 510 |
Foreign currency translation [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Balance at beginning of year | (3,082) | (4,346) |
Other comprehensive income, net | (619) | (28) |
Balance at end of period | (3,701) | (4,374) |
Defined benefit pension plans [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Balance at beginning of year | (1,645) | (1,369) |
Other comprehensive income, net | 112 | 67 |
Balance at end of period | (1,533) | (1,302) |
Other AOCI transactions [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Balance at beginning of year | (52) | (9) |
Other comprehensive income, net | 42 | (15) |
Balance at end of period | (10) | (24) |
Accumulated other comprehensive income [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Balance at beginning of year | (4,243) | (5,243) |
Balance at end of period | $ (4,834) | $ (5,190) |
Supplemental cash flow inform_3
Supplemental cash flow information (Detail) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Supplemental Cash Flow Information [Line Items] | ||
Cash paid during the period for income taxes | $ 4,002 | $ 2,715 |
Insurance and Other [Member] | ||
Supplemental Cash Flow Information [Line Items] | ||
Cash paid during the period for interest | 1,040 | 892 |
Railroad, Utilities and Energy [Member] | ||
Supplemental Cash Flow Information [Line Items] | ||
Cash paid during the period for interest | $ 2,335 | $ 2,174 |
Contingencies and Commitments -
Contingencies and Commitments - Narrative (Detail) - USD ($) $ in Millions | Nov. 01, 2020 | Jun. 30, 2021 | Sep. 30, 2021 | [1] | Dec. 31, 2020 | [1] | Dec. 31, 2019 |
Business Acquisition [Line Items] | |||||||
Goodwill | $ 73,770 | $ 73,734 | $ 81,882 | ||||
Berkshire Hathaway Energy [Member] | Dominion Energy, Inc. [Member] | Cove Point [Member] | General Partner [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Variable interest entity, ownership percentage | 100.00% | ||||||
Berkshire Hathaway Energy [Member] | Dominion Energy, Inc. [Member] | Cove Point [Member] | Limited Partner [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Variable interest entity, ownership percentage | 25.00% | ||||||
Berkshire Hathaway Energy [Member] | Dominion Energy, Inc. [Member] | First Acquisition Agreement [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Business acquisition, date of acquisition | Nov. 1, 2020 | ||||||
Payment for acquisition of business | $ 2,500 | ||||||
Fair value of assets acquired | 13,400 | ||||||
Fair value of liabilities assumed | 7,000 | ||||||
Goodwill | 1,700 | ||||||
Fair value of liabilities including assumptions of debt | 5,600 | ||||||
Berkshire Hathaway Energy [Member] | Dominion Energy, Inc. [Member] | First Acquisition Agreement [Member] | Limited Partner [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Noncontrolling interest attributable to limited partnership | $ 3,900 | ||||||
Berkshire Hathaway Energy [Member] | Dominion Energy, Inc. [Member] | Second Acquisition Agreement [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Payment for acquisition of business | $ 1,300 | ||||||
[1] | Net of accumulated goodwill impairments of $11.0 billion as of September 30, 2021 and December 31, 2020. |
Revenue from contracts with cus
Revenue from contracts with customers disaggregated by reportable segment and source of revenue (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | $ 49,014 | $ 43,494 | $ 141,747 | $ 122,324 |
Other revenues | 21,569 | 19,530 | 62,549 | 58,805 |
Total revenues | 70,583 | 63,024 | 204,296 | 181,129 |
Industrial and Commercial Products [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 5,643 | 4,943 | 16,691 | 15,782 |
Building Products [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 5,005 | 4,322 | 14,518 | 11,682 |
Consumer Products [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 4,758 | 4,036 | 13,525 | 10,373 |
Grocery and Convenience Store Distribution [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 7,933 | 7,905 | 23,104 | 23,051 |
Food and Beverage Distribution [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 4,478 | 3,968 | 12,838 | 11,561 |
Auto Sales [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 2,423 | 2,195 | 7,485 | 5,999 |
Other Retail and Wholesale Distribution [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 4,655 | 3,781 | 13,776 | 10,426 |
Service [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 8,981 | 7,988 | 25,762 | 22,260 |
Electricity and Natural Gas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 5,138 | 4,356 | 14,048 | 11,190 |
Manufacturing Businesses [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 16,505 | 14,216 | 47,890 | 40,490 |
Other revenues | 951 | 929 | 2,821 | 2,686 |
Total revenues | 17,456 | 15,145 | 50,711 | 43,176 |
Manufacturing Businesses [Member] | Industrial and Commercial Products [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 5,600 | 4,889 | 16,549 | 15,639 |
Manufacturing Businesses [Member] | Building Products [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 5,005 | 4,322 | 14,518 | 11,682 |
Manufacturing Businesses [Member] | Consumer Products [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 4,758 | 4,036 | 13,525 | 10,373 |
Manufacturing Businesses [Member] | Other Retail and Wholesale Distribution [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 742 | 599 | 2,199 | 1,691 |
Manufacturing Businesses [Member] | Service [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 400 | 370 | 1,099 | 1,105 |
McLane Company [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 12,586 | 12,017 | 36,451 | 35,010 |
Other revenues | 26 | 23 | 78 | 69 |
Total revenues | 12,612 | 12,040 | 36,529 | 35,079 |
McLane Company [Member] | Grocery and Convenience Store Distribution [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 7,933 | 7,905 | 23,104 | 23,051 |
McLane Company [Member] | Food and Beverage Distribution [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 4,478 | 3,968 | 12,838 | 11,561 |
McLane Company [Member] | Service [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 175 | 144 | 509 | 398 |
Service and Retailing [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 7,452 | 6,296 | 22,264 | 17,337 |
Other revenues | 1,202 | 966 | 3,287 | 2,884 |
Total revenues | 8,654 | 7,262 | 25,551 | 20,221 |
Service and Retailing [Member] | Industrial and Commercial Products [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 43 | 54 | 142 | 143 |
Service and Retailing [Member] | Auto Sales [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 2,423 | 2,195 | 7,485 | 5,999 |
Service and Retailing [Member] | Other Retail and Wholesale Distribution [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 3,913 | 3,182 | 11,577 | 8,735 |
Service and Retailing [Member] | Service [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 1,073 | 865 | 3,060 | 2,460 |
BNSF [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 5,747 | 5,135 | 16,875 | 15,059 |
Other revenues | 14 | 14 | 42 | 42 |
Total revenues | 5,761 | 5,149 | 16,917 | 15,101 |
BNSF [Member] | Service [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 5,747 | 5,135 | 16,875 | 15,059 |
Berkshire Hathaway Energy [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 6,724 | 5,830 | 18,267 | 14,428 |
Other revenues | 289 | 396 | 755 | 964 |
Total revenues | 7,013 | 6,226 | 19,022 | 15,392 |
Berkshire Hathaway Energy [Member] | Service [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 1,586 | 1,474 | 4,219 | 3,238 |
Berkshire Hathaway Energy [Member] | Electricity and Natural Gas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contracts with customers | 5,138 | 4,356 | 14,048 | 11,190 |
Insurance, Corporate and Other [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Other revenues | 19,087 | 17,202 | 55,566 | 52,160 |
Total revenues | $ 19,087 | $ 17,202 | $ 55,566 | $ 52,160 |
Revenue from contracts with c_2
Revenue from contracts with customers transaction price allocated to significant unsatisfied remaining performance obligations and timing of when performance obligations expected to be satisfied (Detail) $ in Millions | Sep. 30, 2021USD ($) |
Electricity and Natural Gas [Member] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Transaction price allocated to remaining performance obligations | $ 24,138 |
Electricity and Natural Gas [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Transaction price allocated to remaining performance obligations | $ 2,761 |
Performance obligations expected to be satisfied, period | 1 year |
Electricity and Natural Gas [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Transaction price allocated to remaining performance obligations | $ 21,377 |
Performance obligations expected to be satisfied, period | |
Other Sales and Service Contracts [Member] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Transaction price allocated to remaining performance obligations | $ 3,605 |
Other Sales and Service Contracts [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Transaction price allocated to remaining performance obligations | $ 1,402 |
Performance obligations expected to be satisfied, period | 1 year |
Other Sales and Service Contracts [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Transaction price allocated to remaining performance obligations | $ 2,203 |
Performance obligations expected to be satisfied, period |
Revenue from contracts with c_3
Revenue from contracts with customers transaction price allocated to significant unsatisfied remaining performance obligations and timing of when performance obligations expected to be satisfied (Detail 1) $ in Millions | Sep. 30, 2021USD ($) |
Electricity and Natural Gas [Member] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Transaction price allocated to remaining performance obligations | $ 24,138 |
Other Sales and Service Contracts [Member] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Transaction price allocated to remaining performance obligations | $ 3,605 |
Business segment data - Revenue
Business segment data - Revenues (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Segment Reporting Information [Line Items] | ||||
Total revenues | $ 70,583 | $ 63,024 | $ 204,296 | $ 181,129 |
BNSF [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenues | 5,761 | 5,149 | 16,917 | 15,101 |
Berkshire Hathaway Energy [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenues | 7,013 | 6,226 | 19,022 | 15,392 |
Manufacturing Businesses [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenues | 17,456 | 15,145 | 50,711 | 43,176 |
McLane Company [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenues | 12,612 | 12,040 | 36,529 | 35,079 |
Service and Retailing Businesses [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenues | 8,654 | 7,262 | 25,551 | 20,221 |
Operating Businesses [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenues | 70,656 | 63,027 | 204,512 | 180,918 |
Operating Businesses [Member] | Insurance Group [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Interest, dividend and other investment income | 1,339 | 1,223 | 4,212 | 4,486 |
Total revenues | 19,066 | 17,136 | 55,526 | 51,742 |
Operating Businesses [Member] | Insurance Group [Member] | GEICO [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Premiums earned | 9,604 | 8,540 | 28,073 | 26,689 |
Operating Businesses [Member] | Insurance Group [Member] | Berkshire Hathaway Reinsurance Group [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Premiums earned | 5,159 | 4,883 | 14,868 | 13,464 |
Operating Businesses [Member] | Insurance Group [Member] | Berkshire Hathaway Primary Group [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Premiums earned | 2,964 | 2,490 | 8,373 | 7,103 |
Operating Businesses [Member] | BNSF [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenues | 5,790 | 5,176 | 17,000 | 15,195 |
Operating Businesses [Member] | Berkshire Hathaway Energy [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenues | 7,013 | 6,226 | 19,022 | 15,392 |
Operating Businesses [Member] | Manufacturing Businesses [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenues | 17,496 | 15,170 | 50,821 | 43,238 |
Operating Businesses [Member] | McLane Company [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenues | 12,612 | 12,040 | 36,529 | 35,079 |
Operating Businesses [Member] | Service and Retailing Businesses [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenues | 8,679 | 7,279 | 25,614 | 20,272 |
Corporate, Eliminations and Other [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenues | $ (73) | $ (3) | $ (216) | $ 211 |
Business segment data - Earning
Business segment data - Earnings (loss) before income taxes (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Segment Reporting Information [Line Items] | ||||
Investment and derivative contract gains | $ 4,921 | $ 31,582 | $ 38,015 | $ 1,392 |
Equity method investments | 377 | 290 | 775 | 333 |
Earnings (loss) before income taxes | 12,484 | 37,930 | 62,733 | 10,290 |
Operating Businesses [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (loss) before income taxes from operating businesses | 7,268 | 6,958 | 24,088 | 20,348 |
Operating Businesses [Member] | Insurance Group [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (loss) before income taxes from operating businesses | 317 | 929 | 4,616 | 5,704 |
Operating Businesses [Member] | Insurance Group [Member] | Interest, Dividend and Other Investment Income [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (loss) before income taxes from operating businesses | 1,337 | 1,220 | 4,205 | 4,480 |
Operating Businesses [Member] | Insurance Group [Member] | GEICO [Member] | Insurance Premiums Earned [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (loss) before income taxes from operating businesses | (289) | 276 | 1,360 | 3,320 |
Operating Businesses [Member] | Insurance Group [Member] | Berkshire Hathaway Reinsurance Group [Member] | Insurance Premiums Earned [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (loss) before income taxes from operating businesses | (708) | (441) | (1,298) | (2,033) |
Operating Businesses [Member] | Insurance Group [Member] | Berkshire Hathaway Primary Group [Member] | Insurance Premiums Earned [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (loss) before income taxes from operating businesses | (23) | (126) | 349 | (63) |
Operating Businesses [Member] | BNSF [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (loss) before income taxes from operating businesses | 2,029 | 1,777 | 5,667 | 4,855 |
Operating Businesses [Member] | Berkshire Hathaway Energy [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (loss) before income taxes from operating businesses | 1,375 | 1,122 | 2,797 | 2,074 |
Operating Businesses [Member] | Manufacturing Businesses [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (loss) before income taxes from operating businesses | 2,445 | 2,255 | 7,595 | 5,765 |
Operating Businesses [Member] | McLane Company [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (loss) before income taxes from operating businesses | (8) | 96 | 179 | 205 |
Operating Businesses [Member] | Service and Retailing Businesses [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (loss) before income taxes from operating businesses | 1,110 | 779 | 3,234 | 1,745 |
Segment Reconciling Items [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Investment and derivative contract gains | 4,921 | 31,582 | 38,015 | 1,392 |
Interest expense, not allocated to segments | (128) | (116) | (386) | (363) |
Equity method investments | 377 | 290 | 775 | 333 |
Goodwill and intangible impairments | (25) | (10,659) | ||
Corporate, Eliminations and Other [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (loss) before income taxes from operating businesses | $ 46 | $ (759) | $ 241 | $ (761) |