Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Feb. 14, 2022 | Jun. 30, 2021 | |
Document Information [Line Items] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2021 | ||
Document Fiscal Year Focus | 2021 | ||
Document Fiscal Period Focus | FY | ||
Entity Registrant Name | BERKSHIRE HATHAWAY INC | ||
Entity Central Index Key | 0001067983 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | true | ||
Entity Shell Company | false | ||
Entity File Number | 001-14905 | ||
Entity Incorporation, State or Country Code | DE | ||
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 | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Entity Public Float | $ 503,600,000,000 | ||
Auditor Firm ID | 34 | ||
Documents Incorporated by Reference | Portions of the Proxy Statement for the Registrant’s Annual Meeting to be held April 30, 2022 are incorporated in Part III. | ||
Auditor Name | Deloitte & Touche LLP | ||
Auditor Location | Omaha, Nebraska | ||
Common Class A [Member] | |||
Document Information [Line Items] | |||
Entity Common Stock, Shares Outstanding | 615,333 | ||
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 | 1,291,212,661 | ||
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 | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | |||
ASSETS | |||||
Investments in fixed maturity securities | $ 16,434 | $ 20,410 | |||
Investments in equity securities | 350,719 | [1] | 281,170 | [2] | |
Loans and finance receivables | 20,751 | 19,201 | |||
Inventories | 20,954 | 19,208 | |||
Equipment held for lease | 14,918 | 14,601 | |||
Goodwill | [3] | 73,875 | 73,734 | ||
Deferred charges - retroactive reinsurance | 10,639 | 12,441 | |||
Total assets | 958,784 | 873,729 | |||
LIABILITIES | |||||
Unpaid losses and loss adjustment expenses | 86,664 | 79,854 | |||
Unpaid losses and loss adjustment expenses under retroactive reinsurance contracts | 38,256 | 40,966 | |||
Income taxes, principally deferred | 90,243 | 74,098 | |||
Total liabilities | 443,854 | 422,393 | |||
Shareholders’ equity: | |||||
Common stock | 8 | 8 | |||
Capital in excess of par value | 35,592 | 35,626 | |||
Accumulated other comprehensive income | (4,027) | (4,243) | |||
Retained earnings | 534,421 | 444,626 | |||
Treasury stock, at cost | (59,795) | (32,853) | |||
Berkshire Hathaway shareholders’ equity | 506,199 | 443,164 | |||
Noncontrolling interests | 8,731 | 8,172 | |||
Total shareholders’ equity | 514,930 | 451,336 | |||
Total liabilities and shareholders' equity | 958,784 | 873,729 | |||
Insurance and Other [Member] | |||||
ASSETS | |||||
Cash and cash equivalents | [4] | 85,319 | 44,714 | ||
Short-term investments in U.S. Treasury Bills | 58,535 | 90,300 | |||
Investments in fixed maturity securities | 16,434 | 20,410 | |||
Investments in equity securities | 350,719 | 281,170 | |||
Equity method investments | 17,375 | 17,303 | |||
Loans and finance receivables | 20,751 | 19,201 | |||
Other receivables | 35,388 | 32,310 | |||
Inventories | 20,954 | 19,208 | |||
Property, plant and equipment | 20,834 | 21,200 | |||
Equipment held for lease | 14,918 | 14,601 | |||
Goodwill | 47,117 | 47,121 | |||
Other intangible assets | 28,486 | 29,462 | |||
Deferred charges - retroactive reinsurance | 10,639 | 12,441 | |||
Other | 15,854 | 14,580 | |||
Total assets | 743,323 | 664,021 | |||
LIABILITIES | |||||
Unpaid losses and loss adjustment expenses | 86,664 | 79,854 | |||
Unpaid losses and loss adjustment expenses under retroactive reinsurance contracts | 38,256 | 40,966 | |||
Unearned premiums | 23,512 | 21,395 | |||
Life, annuity and health insurance benefits | 22,452 | 21,616 | |||
Other policyholder liabilities | 9,330 | 8,670 | |||
Accounts payable, accruals and other liabilities | 30,376 | 30,344 | |||
Aircraft repurchase liabilities and unearned lease revenues | 5,849 | 5,856 | |||
Notes payable and other borrowings | 39,272 | 41,522 | |||
Total liabilities | 255,711 | 250,223 | |||
Railroad, Utilities and Energy [Member] | |||||
ASSETS | |||||
Cash and cash equivalents | [4] | 2,865 | 3,276 | ||
Receivables | 4,177 | 3,542 | |||
Property, plant and equipment | 155,530 | 151,216 | |||
Goodwill | 26,758 | 26,613 | |||
Other intangible assets | 1,151 | 1,222 | |||
Regulatory assets | 3,963 | 3,440 | |||
Other | 22,168 | 21,621 | |||
Total assets | 215,461 | 209,708 | |||
LIABILITIES | |||||
Accounts payable, accruals and other liabilities | 15,696 | 15,224 | |||
Regulatory liabilities | 7,214 | 7,475 | |||
Notes payable and other borrowings | 74,990 | 75,373 | |||
Total liabilities | $ 97,900 | $ 98,072 | |||
[1] | Approximately 73% of the aggregate fair value was concentrated in four companies (American Express Company – $24.8 billion; Apple Inc. – $161.2 billion; Bank of America Corporation – $46.0 billion and The Coca-Cola Company – $23.7 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 | ||||
[4] | Includes U.S. Treasury Bills with maturities of three months or less when purchased of $61.7 billion at December 31, 2021 and $23.2 billion at December 31, 2020. |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Billions | Dec. 31, 2021 | Dec. 31, 2020 |
U.S. Treasury Bills [Member] | ||
Cash equivalents | $ 61.7 | $ 23.2 |
Consolidated Statements of Earn
Consolidated Statements of Earnings - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Revenues: | ||||
Leasing revenues | $ 5,988 | $ 5,209 | $ 5,856 | |
Total revenues | 276,094 | 245,510 | 254,616 | |
Investment and derivative contract gains | 78,542 | 40,746 | 72,607 | |
Costs and expenses: | ||||
Interest expense | 4,172 | 4,083 | 3,961 | |
Total costs and expenses | 243,945 | 231,289 | 225,703 | |
Earnings before income taxes and equity method earnings | 110,691 | 54,967 | 101,520 | |
Equity method earnings | 995 | 726 | 1,176 | |
Earnings before income taxes | 111,686 | 55,693 | 102,696 | |
Income tax expense | 20,879 | 12,440 | 20,904 | |
Net earnings | 90,807 | 43,253 | 81,792 | |
Earnings attributable to noncontrolling interests | 1,012 | 732 | 375 | |
Net earnings attributable to Berkshire Hathaway shareholders | $ 89,795 | $ 42,521 | $ 81,417 | |
Equivalent Class A [Member] | ||||
Costs and expenses: | ||||
Net earnings per average equivalent share | $ 59,460 | $ 26,668 | $ 49,828 | |
Average equivalent shares outstanding | 1,510,180 | 1,594,469 | 1,633,946 | |
Equivalent Class B [Member] | ||||
Costs and expenses: | ||||
Net earnings per average equivalent share | [1] | $ 39.64 | $ 17.78 | $ 33.22 |
Average equivalent shares outstanding | 2,265,269,867 | 2,391,703,454 | 2,450,919,020 | |
Insurance and Other [Member] | ||||
Revenues: | ||||
Insurance premiums earned | $ 69,478 | $ 63,401 | $ 61,078 | |
Sales and service revenues | 145,043 | 127,044 | 134,989 | |
Leasing revenues | 5,988 | 5,209 | 5,856 | |
Interest, dividend and other investment income | 7,465 | 8,092 | 9,240 | |
Total revenues | 227,974 | 203,746 | 211,163 | |
Costs and expenses: | ||||
Insurance losses and loss adjustment expenses | 49,964 | 43,951 | 44,456 | |
Life, annuity and health insurance benefits | 6,007 | 5,812 | 4,986 | |
Insurance underwriting expenses | 12,569 | 12,798 | 11,200 | |
Cost of sales and services | 114,138 | 101,091 | 107,041 | |
Cost of leasing | 4,201 | 3,520 | 4,003 | |
Selling, general and administrative expenses | 18,843 | 19,809 | 19,226 | |
Goodwill and intangible asset impairments | 10,671 | 96 | ||
Interest expense | 1,086 | 1,105 | 1,056 | |
Total costs and expenses | 206,808 | 198,757 | 192,064 | |
Railroad, Utilities and Energy [Member] | ||||
Revenues: | ||||
Freight rail transportation revenues | 23,177 | 20,750 | 23,357 | |
Energy operating revenues | 18,891 | 15,540 | 15,353 | |
Service revenues and other income | 6,052 | 5,474 | 4,743 | |
Total revenues | 48,120 | 41,764 | 43,453 | |
Costs and expenses: | ||||
Expenses | 14,477 | 13,120 | 15,436 | |
Cost of sales and other expenses | 13,959 | 11,638 | 11,296 | |
Other expenses | 5,615 | 4,796 | 4,002 | |
Interest expense | 3,086 | 2,978 | 2,905 | |
Total costs and expenses | $ 37,137 | $ 32,532 | $ 33,639 | |
[1] | Class B shares are economically equivalent to one-fifteen-hundredth |
Consolidated Statements of Ea_2
Consolidated Statements of Earnings (Parenthetical) | Dec. 31, 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 | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Statement Of Income And Comprehensive Income [Abstract] | |||
Net earnings | $ 90,807 | $ 43,253 | $ 81,792 |
Other comprehensive income: | |||
Unrealized appreciation of fixed maturity securities | (217) | 74 | 142 |
Applicable income taxes | 50 | (19) | (31) |
Foreign currency translation | (1,011) | 1,284 | 323 |
Applicable income taxes | (6) | 3 | (28) |
Defined benefit pension plans | 1,775 | (355) | (711) |
Applicable income taxes | (457) | 74 | 155 |
Other, net | 100 | (42) | (48) |
Other comprehensive income, net | 234 | 1,019 | (198) |
Comprehensive income | 91,041 | 44,272 | 81,594 |
Comprehensive income attributable to noncontrolling interests | 1,030 | 751 | 405 |
Comprehensive income attributable to Berkshire Hathaway shareholders | $ 90,011 | $ 43,521 | $ 81,189 |
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, 2018 | $ 352,500 | $ 35,715 | $ (5,015) | $ 321,112 | $ (3,109) | $ 3,797 | ||
Net earnings | 81,792 | 81,417 | 375 | |||||
Other comprehensive income, net | (198) | (228) | 30 | |||||
Issuance (acquisition) of common stock | (4,995) | 21 | (5,016) | |||||
Transactions with noncontrolling interests | (536) | (70) | (36) | (430) | ||||
Ending Balance at Dec. 31, 2019 | $ 428,563 | $ (388) | 35,666 | (5,243) | 402,493 | $ (388) | (8,125) | 3,772 |
Accounting Standards Update [Extensible Enumeration] | ASU 2016-13 [Member] | |||||||
Net earnings | $ 43,253 | 42,521 | 732 | |||||
Other comprehensive income, net | 1,019 | 1,000 | 19 | |||||
Acquisition of common stock | (24,728) | (24,728) | ||||||
Transactions with noncontrolling interests | 3,617 | (32) | 3,649 | |||||
Ending Balance at Dec. 31, 2020 | 451,336 | 35,634 | (4,243) | 444,626 | (32,853) | 8,172 | ||
Net earnings | 90,807 | 89,795 | 1,012 | |||||
Other comprehensive income, net | 234 | 216 | 18 | |||||
Acquisition of common stock | (26,942) | (26,942) | ||||||
Transactions with noncontrolling interests | (505) | (34) | (471) | |||||
Ending Balance at Dec. 31, 2021 | $ 514,930 | $ 35,600 | $ (4,027) | $ 534,421 | $ (59,795) | $ 8,731 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |||
Cash flows from operating activities: | |||||
Net earnings | $ 90,807 | $ 43,253 | $ 81,792 | ||
Adjustments to reconcile net earnings to operating cash flows: | |||||
Investment (gains) losses | (77,576) | (40,905) | (71,123) | ||
Depreciation and amortization | 10,718 | 10,596 | 10,064 | ||
Other, including asset impairment charges | (3,397) | 11,263 | (1,254) | ||
Changes in operating assets and liabilities: | |||||
Unpaid losses and loss adjustment expenses | 4,595 | 4,819 | 6,087 | ||
Deferred charges - retroactive reinsurance | 1,802 | 1,307 | 357 | ||
Unearned premiums | 2,306 | 1,587 | 1,707 | ||
Receivables and originated loans | (5,834) | (1,609) | (2,303) | ||
Other assets | (1,686) | (1,109) | (2,011) | ||
Other liabilities | 2,389 | 3,376 | 190 | ||
Income taxes | 15,297 | 7,195 | 15,181 | ||
Net cash flows from operating activities | 39,421 | 39,773 | 38,687 | ||
Cash flows from investing activities: | |||||
Purchases of equity securities | (8,448) | (30,161) | (18,642) | ||
Sales of equity securities | 15,849 | 38,756 | 14,336 | ||
Purchases of U.S. Treasury Bills and fixed maturity securities | (152,637) | (208,429) | (136,123) | ||
Sales of U.S. Treasury Bills and fixed maturity securities | 27,188 | 31,873 | 15,929 | ||
Redemptions and maturities of U.S. Treasury Bills and fixed maturity securities | 160,402 | 149,709 | 137,767 | ||
Purchases of loans and finance receivables | (88) | (772) | (75) | ||
Collections of loans and finance receivables | 561 | 393 | 345 | ||
Acquisitions of businesses, net of cash acquired | (456) | (2,532) | (1,683) | ||
Purchases of property, plant and equipment and equipment held for lease | (13,276) | (13,012) | (15,979) | ||
Other | 297 | (3,582) | (1,496) | ||
Net cash flows from investing activities | 29,392 | (37,757) | (5,621) | ||
Cash flows from financing activities: | |||||
Changes in short term borrowings, net | (624) | (1,118) | 266 | ||
Acquisition of treasury stock | (27,061) | (24,706) | (4,850) | ||
Other | (695) | (429) | (497) | ||
Net cash flows from financing activities | (28,508) | (18,344) | 730 | ||
Effects of foreign currency exchange rate changes | 5 | 92 | 25 | ||
Increase (decrease) in cash and cash equivalents and restricted cash | 40,310 | (16,236) | 33,821 | ||
Cash and cash equivalents and restricted cash at beginning of year | 48,396 | 64,632 | 30,811 | ||
Cash and cash equivalents and restricted cash at end of year | 88,706 | 48,396 | 64,632 | ||
Restricted cash, included in other assets at end of year | $ 522 | $ 406 | $ 457 | ||
Restricted Cash and Cash Equivalents, Statement of Financial Position [Extensible Enumeration] | Other | Other | Other | ||
Insurance and Other [Member] | |||||
Cash flows from financing activities: | |||||
Proceeds from borrowings | $ 2,961 | $ 5,925 | $ 8,144 | ||
Repayments of borrowings | (3,032) | (2,700) | (5,095) | ||
Cash and cash equivalents at end of year | 85,319 | [1] | 44,714 | [1] | 61,151 |
Railroad, Utilities and Energy [Member] | |||||
Cash flows from financing activities: | |||||
Proceeds from borrowings | 3,959 | 8,445 | 5,400 | ||
Repayments of borrowings | (4,016) | (3,761) | (2,638) | ||
Cash and cash equivalents at end of year | $ 2,865 | [1] | $ 3,276 | [1] | $ 3,024 |
[1] | Includes U.S. Treasury Bills with maturities of three months or less when purchased of $61.7 billion at December 31, 2021 and $23.2 billion at December 31, 2020. |
Significant accounting policies
Significant accounting policies and practices | 12 Months Ended |
Dec. 31, 2021 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Significant accounting policies and practices | (1) Significant accounting (a) Nature of operations and basis of consolidation Berkshire Hathaway Inc. (“Berkshire”) is a holding company owning subsidiaries engaged in a number of diverse business activities, including insurance and reinsurance, freight rail transportation, utilities and energy, manufacturing, service and retailing. In these notes the terms “us,” “we,” or “our” refer to Berkshire and its consolidated subsidiaries. Further information regarding our reportable business segments is contained in Note 25. Information concerning business acquisitions completed over the past three years appears in Note 2. We believe that reporting the Railroad, Utilities and Energy subsidiaries separately is appropriate given the relative significance of their long-lived assets, capital expenditures and debt, which is not guaranteed by Berkshire. The accompanying Consolidated Financial Statements include the accounts of Berkshire consolidated with the accounts of all subsidiaries and affiliates in which we hold a controlling financial interest as of the financial statement date. Normally a controlling financial interest reflects ownership of a majority of the voting interests. We consolidate variable interest entities (“VIE”) when we possess both the power to direct the activities of the VIE that most significantly affect its economic performance, and we (a) are obligated to absorb the losses that could be significant to the VIE or (b) hold the right to receive benefits from the VIE that could be significant to the VIE. Intercompany accounts and transactions have been eliminated. (b) Use of estimates in preparation of financial statements We prepare our Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States (“GAAP”) which requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the period. Our estimates of unpaid losses and loss adjustment expenses are subject to considerable estimation error due to the inherent uncertainty in projecting ultimate claim costs. In addition, estimates and assumptions associated with the amortization of deferred charges on retroactive reinsurance contracts, determinations of fair values of certain financial instruments and evaluations of goodwill and indefinite-lived intangible assets for impairment require considerable judgment. Actual results may differ from the estimates used in preparing our Consolidated Financial Statements. 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, although the effects varied significantly. The extent of the effects over longer terms on the demand for certain of our products and services cannot be reasonably estimated at this time. 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. (c) Cash and cash equivalents and short-term investments in U.S. Treasury Bills Cash equivalents consist of demand deposit and money market accounts and investments with maturities of three months or less when purchased. Short-term investments in U.S. Treasury Bills consist of U.S. Treasury Bills with maturities exceeding three months at the time of purchase and are stated at amortized cost, which approximates fair value. (d) Investments in fixed maturity securities We classify investments in fixed maturity securities on the acquisition date and at each balance sheet date. Securities classified as held-to-maturity are carried at amortized cost, reflecting the ability and intent to hold the securities to maturity. Securities classified as trading are acquired with the intent to sell in the near term and are carried at fair value with changes in fair value reported in earnings. All other securities are classified as available-for-sale and are carried at fair value. Substantially all of investments in fixed maturity securities are classified as available-for-sale. We amortize the difference between the original cost and maturity value of a fixed maturity security to earnings using the interest method. Notes to Consolidated Financial Statements (Continued) (1) Significant accounting policies and practices (Continued) (d) Investments in fixed maturity securities (Continued) We record investment gains and losses on available-for-sale fixed maturity securities when the securities are sold, determined on a specific identification basis. For securities in an unrealized loss position, we recognize a loss in earnings for the excess of amortized cost over fair value if we intend to sell before the price recovers. As of the balance sheet date, we evaluate whether the other unrealized losses are attributable to credit losses or other factors. We consider the severity of the decline in value, creditworthiness of the issuer and other relevant factors. We record an allowance for credit losses, limited to the excess of amortized cost over fair value, with a corresponding charge to earnings if the present value of estimated cash flows is less than the present value of contractual cash flows. The allowance may be subsequently increased or decreased based on the prevailing facts and circumstances. The portion of the unrealized loss that we believe is not related to a credit loss is recognized in other comprehensive income. (e) Investments in equity securities We carry substantially all investments in equity securities at fair value and record the subsequent changes in fair values in the Consolidated Statements of Earnings as a component of investment gains or losses. (f) Investments under the equity method We utilize the equity method to account for investments when we possess the ability to exercise significant influence, but not control, over the operating and financial policies of the investee. The ability to exercise significant influence is presumed when the investor possesses more than 20% of the voting interests of the investee. This presumption may be overcome based on specific facts and circumstances that demonstrate that the ability to exercise significant influence is restricted. We apply the equity method to investments in common stock and other investments when such investments possess substantially identical subordinated interests to common stock. In applying the equity method, we record the investment at cost and subsequently increase or decrease the carrying amount of the investment by our proportionate share of the net earnings or losses and other comprehensive income of the investee. We record dividends or other equity distributions as reductions in the carrying value of the investment. If net losses reduce our carrying amount to zero, additional net losses may be recorded if other investments in the investee are at-risk, even if we have not committed to provide financial support to the investee. Such additional equity method losses, if any, are based upon the change in our claim on the investee’s book value. (g) Loans and finance receivables Loans and finance receivables are primarily manufactured home loans, and to a lesser extent, commercial loans and site-built home loans. We carry substantially all loans and finance receivables at amortized cost, net of allowances for expected credit losses, based on our ability and intent to hold such loans to maturity. Acquisition costs and loan origination and commitment costs paid and fees received, as well as acquisition premiums or discounts, are amortized as yield adjustments over the lives of the loans. Prior to 2020, credit losses were measured when non-collection was considered probable based on the prevailing facts and circumstances. Beginning in 2020, measurements of expected credit losses include provisions for non-collection, whether the risk is probable or remote. Expected credit losses on manufactured home loans are based on the net present value of future principal payments less estimated expenses related to the charge-off and foreclosure of expected uncollectible loans and include provisions for loans that are not in foreclosure. Our principal credit quality indicator is whether the loans are performing. Expected credit loss estimates consider historical default rates, collateral recovery rates, historical runoff rates, interest rates, reductions of future cash flows for modified loans and the historical time elapsed from last payment until foreclosure, among other factors. In addition, our estimates consider current conditions and reasonable and supportable forecasts. Loans are considered delinquent when payments are more than 30 days past due. We place loans over 90 days past due on nonaccrual status and accrued but uncollected interest is reversed. Subsequent collections on the loans are first applied to the principal and interest owed for the most delinquent amount. We resume interest income accrual once a loan is less than 90 days delinquent. Loans are considered non-performing when the foreclosure process has started. Once a loan is in the process of foreclosure, interest income is not recognized until the foreclosure is cured or the loan is modified. Once a modification is complete, interest income is recognized based on the terms of the new loan. Foreclosed loans are charged off when the collateral is sold. Loans not in foreclosure are evaluated for charge-off based on individual circumstances concerning the future collectability of the loan and the condition of the collateral securing the loan. Notes to Consolidated Financial Statements (Continued) (1) Significant accounting policies and practices (Continued) (h) Other receivables Other receivables include balances due from customers, insurance premiums receivable and reinsurance losses recoverable, as well as other receivables. Trade receivables, insurance premium receivables and other receivables are primarily short-term in nature with stated collection terms of less than one year from the date of origination. Reinsurance recoverables are comprised of amounts ceded under reinsurance contracts or pursuant to mandatory government-sponsored insurance programs. Reinsurance recoverables relate to unpaid losses and loss adjustment expenses arising from property and casualty contracts and benefits under life and health contracts. Receivables are stated net of estimated allowances for uncollectible balances. Prior to 2020, we recorded provisions for uncollectible balances when it was probable counterparties or customers would be unable to pay all amounts due based on the contractual terms and historical loss history. Beginning in 2020, we adopted a new accounting pronouncement that affects the measurement of allowances for credit losses. In measuring credit loss allowances, we primarily utilize credit loss history, with adjustments to reflect current or expected future economic conditions when reasonable and supportable forecasts of losses deviate from historical experience. In evaluating expected credit losses of reinsurance recoverables on unpaid losses, we review the credit quality of the counterparty and consider right-of-offset provisions within reinsurance contracts and other forms of credit enhancement including collateral, guarantees and other available information. We charge-off receivables against the allowances after all reasonable collection efforts are exhausted. ( i ) Derivatives We carry derivative contracts in accounts payable, accruals and other liabilities in our Consolidated Balance Sheets at fair value, net of reductions permitted under master netting agreements with counterparties. We record the changes in fair value of derivative contracts that do not qualify as hedging instruments for financial reporting purposes in earnings or, if such contracts involve our regulated utilities subsidiaries, as regulatory assets or liabilities when inclusion in regulated rates is probable. (j) Fair value measurements As defined under GAAP, fair value is the price that would be received to sell an asset or paid to transfer a liability between market participants in the principal market or in the most advantageous market when no principal market exists. Adjustments to transaction prices or quoted market prices may be required in illiquid or disorderly markets in estimating fair value. Alternative valuation techniques may be appropriate under the circumstances to determine the value that would be received to sell an asset or paid to transfer a liability in an orderly transaction. Market participants are assumed to be independent, knowledgeable, and able and willing to transact an exchange and not acting under duress. Our nonperformance or credit risk is considered in determining the fair value of liabilities. Considerable judgment may be required in interpreting market data used to develop the estimates of fair value. Accordingly, estimates of fair value presented herein are not necessarily indicative of the amounts that could be realized in a current or future market exchange. (k) Inventories Inventories consist of manufactured goods, goods or products acquired for resale and homes constructed for sale. Manufactured inventory costs include materials, direct and indirect labor and factory overhead. At December 31, 2021, we used the last-in-first-out (“LIFO”) method to value approximately 31% of consolidated inventories with the remainder primarily determined under first-in-first-out and average cost methods. Non-LIFO inventories are stated at the lower of cost or net realizable value. The excess of current or replacement costs over costs determined under LIFO was approximately $1.9 billion as of December 31, 2021 and $1.1 billion as of December 31, 2020. (l) Property, plant and equipment We record additions to property, plant and equipment used in operations at cost, which includes asset additions, improvements and betterments. With respect to constructed assets, all materials, direct labor and contract services as well as certain indirect costs are capitalized. Indirect costs include interest over the construction period. With respect to constructed assets of our utility and energy subsidiaries that are subject to authoritative guidance for regulated operations, capitalized costs also include an allowance for funds used during construction, which represents the cost of equity funds used to finance the construction of the regulated facilities. Normal repairs and maintenance and other costs that do not improve the property, extend its useful life or otherwise do not meet capitalization criteria are charged to expense as incurred. Notes to Consolidated Financial Statements (Continued) (1) Significant accounting policies and practices (Continued) (l) Property, plant and equipment (Continued) Depreciation of assets of our regulated utilities and railroad is generally determined using group depreciation methods where rates are based on periodic depreciation studies approved by the applicable regulator. Under group depreciation, a composite rate is applied to the gross investment in a particular class of property, despite differences in the service life or salvage value of individual property units within the same class. When such assets are retired or sold, no gain or loss is recognized. Gains or losses on disposals of all other assets are recorded through earnings. We depreciate property, plant and equipment used by our other businesses to the estimated salvage value primarily using the straight-line method over estimated useful lives. Ranges of estimated useful lives of depreciable assets used in our other businesses are as follows: buildings and improvements – 5 to 50 years, machinery and equipment – 3 to 25 years and furniture, fixtures and other – 3 to 15 years. Ranges of estimated useful lives of depreciable assets unique to our railroad business are as follows: track structure and other roadway – 10 to 100 years and locomotives, freight cars and other equipment – 6 to 43 years. Ranges of estimated useful lives of assets unique to our regulated utilities and energy businesses are as follows: utility generation, transmission and distribution systems – 5 to 80 years, interstate natural gas pipeline assets – 3 to 80 years and independent power plants and other assets – 2 to 50 years. We evaluate property, plant and equipment for impairment when events or changes in circumstances indicate that the carrying value of such assets may not be recoverable or when the assets are held for sale. Upon the occurrence of a triggering event, we assess whether the estimated undiscounted cash flows expected from the use of the asset and the residual value from the ultimate disposal of the asset exceeds the carrying value. If the carrying value exceeds the estimated recoverable amounts, we reduce the carrying value to fair value and record an impairment loss in earnings, except with respect to impairment of assets of our regulated utility and energy subsidiaries where the impacts of regulation are considered in evaluating the carrying value. (m) Leases We are party to contracts where we lease property to others (“lessor” contracts) and where we lease property from others (“lessee” contracts). We record acquisitions of and additions to equipment that we lease to others at cost. We depreciate equipment held for lease to estimated salvage value primarily using the straight-line method over estimated useful lives ranging from 3 to 35 years. We use declining balance depreciation methods for assets when the revenue-earning power of the asset is greater during the earlier years of its life. We also evaluate equipment held for lease for impairment consistent with policies for property, plant and equipment. When we lease assets from others, we record right-of-use assets and lease liabilities. Right-of-use assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. In this regard, lease payments include fixed payments and variable payments that depend on an index or rate. The lease term is generally considered the non-cancellable lease period. Certain lease contracts contain renewal options or other terms that provide for variable payments based on performance or usage. Options are not included in determining right-of-use assets or lease liabilities unless it is reasonably certain that options will be exercised. Generally, incremental borrowing rates are used in measuring lease liabilities. Right-of-use assets are subject to review for impairment. As permitted under GAAP, we do not separate lease components from non-lease components by class of asset and do not record assets or liabilities for leases with terms of one year or less. (n) Goodwill and other intangible assets Goodwill represents the excess of the acquisition price of a business over the fair value of identified net assets of that business. We evaluate goodwill for impairment at least annually. When evaluating goodwill for impairment, we estimate the fair value of the reporting unit. Several methods may be used to estimate a reporting unit’s fair value, including market quotations, asset and liability fair values and other valuation techniques, including, but not limited to, discounted projected future net earnings or net cash flows and multiples of earnings. When the carrying amount of a reporting unit, including goodwill, exceeds the estimated fair value, the excess is charged to earnings as an impairment loss. Intangible assets with indefinite lives are also tested for impairment at least annually and when events or changes in circumstances indicate that, more-likely-than-not, the asset is impaired. Significant judgment is required in estimating fair values and performing goodwill and indefinite-lived intangible asset impairment tests. We amortize intangible assets with finite lives in a pattern that reflects the expected consumption of related economic benefits or on a straight-line basis over the estimated economic useful lives. Intangible assets with finite lives are reviewed for impairment when events or changes in circumstances indicate that the carrying amount may not be recoverable. Notes to Consolidated Financial Statements (Continued) (1) Significant accounting policies and practices (Continued) (o) Revenue recognition We earn insurance premiums on prospective property/casualty insurance and reinsurance contracts over the loss exposure or coverage period in proportion to the level of protection provided. Premiums are generally earned in proportion to the coverage provided, which is generally ratable over the term of the contract with unearned premiums computed on a monthly or daily pro-rata basis. Premiums on retroactive property/casualty reinsurance contracts are generally received in full and are earned at the inception of the contracts, as all underlying loss events covered by the policies occurred prior to contract inception. Premiums for life reinsurance and periodic payment annuity contracts are earned when due. Premiums for periodic payment annuity contracts are usually received in full at the inception of the contracts. Premiums earned are stated net of amounts ceded to reinsurers. Premiums earned on contracts with experience-rating provisions reflect estimated loss experience under such contracts. Sales and service revenues are recognized when goods or services are 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. We manufacture and/or distribute a wide variety of industrial, building and consumer products. Our sales contracts provide customers with these products through wholesale and retail channels in exchange for consideration specified under the contracts. Contracts generally represent customer orders for individual products at stated prices. Sales contracts may contain either single or multiple performance obligations. In instances where contracts contain multiple performance obligations, we allocate the revenue to each obligation based on the relative stand-alone selling prices of each product or service. Sales revenue reflects reductions for returns, allowances, volume discounts and other incentives, some of which may be contingent on future events. In certain customer contracts, sales revenue includes certain state and local excise taxes billed to customers on specified products when those taxes are levied directly upon us by the taxing authorities. Sales revenue excludes sales taxes and value-added taxes collected on behalf of taxing authorities. Sales revenue includes consideration for shipping and other fulfillment activities performed prior to the customer obtaining control of the goods. We also elect to treat consideration for such services performed after control has passed to the customer as sales revenue. Our product sales revenues are generally recognized at a point in time when control of the product transfers to the customer, which coincides with customer pickup or product delivery or acceptance, depending on terms of the arrangement. We recognize sales revenues and related costs with respect to certain contracts over time, primarily from certain castings, forgings and aerostructures contracts. Control of the product units under these contracts transfers continuously to the customer as the product is manufactured. These products generally have no alternative use and the contract requires the customer to provide reasonable compensation if terminated for reasons other than breach of contract. The primary performance obligation under our freight rail transportation service contracts is to move freight from a point of origin to a point of destination. The performance obligations are represented by bills of lading which create a series of distinct services that have a similar pattern of transfer to the customer. The revenues for each performance obligation are based on various factors including the product being shipped, the origin and destination pair and contract incentives, which are outlined in various private rate agreements, common carrier public tariffs, interline foreign road agreements and pricing quotes. The transaction price is generally a per car/unit amount to transport railcars from a specified origin to a specified destination. Freight revenues are recognized over time as the service is performed because the customer simultaneously receives and consumes the benefits of the service. Revenues recognized represent the proportion of the service completed as of the balance sheet date. Invoices for freight transportation services are generally issued to customers and paid within 30 days or less. Customer incentives, which are primarily provided for shipping a specified cumulative volume or shipping to/from specific locations, are recorded as a reduction to revenue on a pro-rata basis based on actual or projected future customer shipments. Notes to Consolidated Financial Statements (Continued) (1) Significant accounting policies and practices (Continued) (o) Revenue recognition (Continued) Our energy revenue derives primarily from tariff-based sales arrangements approved by various regulatory commissions. These tariff-based revenues are mainly comprised of energy, transmission, distribution and natural gas and have performance obligations to deliver energy products and services to customers which are satisfied over time as energy is delivered or services are provided. Our nonregulated energy revenue primarily relates to our renewable energy business. Energy revenues are equivalent to the amounts we have the right to invoice and correspond directly with the value to the customer of the performance to date and include billed and unbilled amounts. Payments from customers are generally due within 30 days of billing. Rates charged for energy products and services are established by regulators or contractual arrangements that establish the transaction price, as well as the allocation of price among the separate performance obligations. When preliminary regulated rates are permitted to be billed prior to final approval by the applicable regulator, certain revenue collected may be subject to refund and a liability for estimated refunds is accrued. Other service revenues derive from contracts with customers in which performance obligations are satisfied over time, where customers receive and consume benefits as we perform the services or at a point in time when the services are provided. Other service revenues primarily derive from real estate brokerage, automotive repair, aircraft management, aviation training, franchising and news distribution. Leasing revenue is generally recognized ratably over the term of the lease or based on usage, if applicable under the terms of the contract. A substantial portion of our lessor contracts are classified as operating leases. (p) Losses and loss adjustment expenses We record liabilities for unpaid losses and loss adjustment expenses under property/casualty insurance and reinsurance contracts for loss events that have occurred on or before the balance sheet date. Such liabilities represent the estimated ultimate payment amounts without discounting for time value. We base liability estimates on (1) loss reports from policyholders and cedents, (2) individual case estimates and (3) estimates of incurred but not reported losses. Losses and loss adjustment expenses in the Consolidated Statements of Earnings include paid claims, claim settlement costs and changes in estimated claim liabilities. Losses and loss adjustment expenses charged to earnings are net of amounts recovered and estimates of amounts recoverable under ceded reinsurance contracts. Reinsurance contracts do not relieve the ceding company of its obligations to indemnify policyholders with respect to the underlying insurance and reinsurance contracts. (q) Retroactive reinsurance contracts We record liabilities for unpaid losses and loss adjustment expenses under short duration retroactive reinsurance contracts consistent with property/casualty insurance and reinsurance contracts described in Note 1(p). With respect to retroactive reinsurance contracts, we also record deferred charge assets at the inception of the contracts, representing the excess, if any, of the estimated ultimate claim liabilities over the premiums earned. We subsequently amortize the deferred charge assets over the expected claim settlement periods using the interest method. Changes to the estimated timing or amount of future loss payments also produce changes in deferred charge balances. We apply changes in such estimates retrospectively and the resulting changes in deferred charge balances, together with periodic amortization, are included in insurance losses and loss adjustment expenses in the Consolidated Statements of Earnings. (r) Insurance policy acquisition costs We capitalize the incremental costs that directly relate to the successful sale of insurance contracts, subject to ultimate recoverability. For short duration contracts, we subsequently amortize such costs to underwriting expenses as the related premiums are earned. Acquisition costs related to long duration life insurance contracts are amortized over the expected premium-paying period in proportion to the anticipated premiums over the life of the policy. Such anticipated premiums are estimated using the same assumptions used for computing liabilities for future policy benefits. Direct incremental acquisition costs include commissions, premium taxes and certain other costs associated with successful efforts. We expense all other underwriting costs as incurred. The recoverability of capitalized insurance policy acquisition costs generally reflects anticipation of investment income. The unamortized balances are included in other assets and were approximately $3.4 billion and $3.25 billion at December 31, 2021 and 2020, respectively. Notes to Consolidated Financial Statements (Continued) (1) Significant accounting policies and practices (Continued) (s) Life and annuity insurance benefits We compute liabilities for benefits under life insurance contracts based upon estimated future investment yields, expected mortality, morbidity and lapse or withdrawal rates, as well as estimates of premiums we expect to receive and expenses we expect to incur in the future. These assumptions, as applicable, also include a margin for adverse deviation and may vary with the characteristics of the contract’s date of issuance, policy duration and country of risk. The interest rate assumptions used may vary by contract or jurisdiction. We discount periodic payment annuity liabilities based on the implicit rate as of the inception of the contracts such that the present value of the liabilities equals the premiums. Discount rates for most contracts range from 3% to 7%. (t) Regulated utilities and energy businesses Certain energy subsidiaries prepare their financial statements in accordance with authoritative guidance for regulated operations, reflecting the economic effects of regulation from the ability to recover certain costs from customers and the requirement to return revenues to customers in the future through the regulated rate-setting process. Accordingly, certain costs are deferred as regulatory assets and certain income is accrued as regulatory liabilities. Regulatory assets and liabilities will be amortized into operating expenses and revenues over various future periods. Regulatory assets and liabilities are continually assessed for probable future inclusion in regulatory rates by considering factors such as applicable regulatory or legislative changes and recent rate orders received by other regulated entities. If future inclusion in regulatory rates ceases to be probable, the amount no longer probable of inclusion in regulatory rates is charged or credited to earnings (or other comprehensive income, if applicable) or returned to customers. (u |
Business acquisitions
Business acquisitions | 12 Months Ended |
Dec. 31, 2021 | |
Business Combinations [Abstract] | |
Business acquisitions | (2) Business acquisitions Our long-held acquisition strategy is to acquire businesses that have consistent earning power, good returns on equity and able and honest management. Financial results attributable to business acquisitions are included in our Consolidated Financial Statements beginning on their respective acquisition dates. Berkshire Hathaway Energy (“BHE”) acquired certain businesses of Dominion Energy, Inc. (“Dominion”) on November 1, 2020, pursuant to a definitive agreement with Dominion in July 2020. The acquired businesses included natural gas transmission, gathering and storage pipelines, natural gas storage capacity and partial ownership of a liquefied natural gas export, import and storage facility (“Cove Point”). In October 2020, BHE and Dominion also agreed to provide for the exclusion of certain pipeline businesses from the initial agreement and entered into a second acquisition agreement with respect to the excluded pipeline businesses. The closing of the second agreement was subject to regulatory and customary closing conditions; however, in July 2021, BHE and Dominion agreed to terminate the second agreement. Notes to Consolidated Financial Statements (Continued) (2) Business acquisitions (Continued) The cost of the acquisition was approximately $2.5 billion after post-closing adjustments as provided in the agreement. The fair values of identified assets acquired and liabilities assumed and residual goodwill are summarized as follows (in millions). Property, plant and equipment $ 9,264 Goodwill 1,741 Other 2,398 Assets acquired $ 13,403 Notes payable and other borrowings $ 5,615 Other 1,358 Liabilities assumed 6,973 Noncontrolling interests 3,916 Net assets $ 2,514 As part of this acquisition, BHE acquired an indirect 25% economic interest in Cove Point, consisting of 100% of the general partnership interest and 25% of the limited partnership interests. We concluded that Cove Point is a VIE and that we have the power to direct the activities that most significantly impact its economic performance as well as the obligation to absorb losses and receive benefits which could be significant to Cove Point. Therefore, we treat Cove Point as a consolidated subsidiary. The noncontrolling interests are attributable to the limited partner interests held by third parties. In each of the past three years, we also completed several smaller-sized business acquisitions, which we consider as “bolt-ons” to several of our existing business operations. We do not believe that these acquisitions are material, individually or in the aggregate to our Consolidated Financial Statements. |
Investments in fixed maturity s
Investments in fixed maturity securities | 12 Months Ended |
Dec. 31, 2021 | |
Investments Debt And Equity Securities [Abstract] | |
Investments in fixed maturity securities | (3) Investments in fixed maturity securities Investments in fixed maturity securities as of December 31, 2021 and 2020 are summarized by type below (in millions). Amortized Cost Unrealized Gains Unrealized Losses Fair Value December 31, 2021 U.S. Treasury, U.S. government corporations and agencies $ 3,286 $ 22 $ (5 ) $ 3,303 Foreign governments 10,998 29 (33 ) 10,994 Corporate bonds 1,363 412 (1 ) 1,774 Other 317 47 (1 ) 363 $ 15,964 $ 510 $ (40 ) $ 16,434 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 December 31, 2021, approximately 93% 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 at December 31, 2021 are summarized below by contractual maturity dates. Amounts are in millions. Actual maturities may differ from contractual maturities due to 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 $ 9,171 $ 6,044 $ 307 $ 207 $ 235 $ 15,964 Fair value 9,165 6,086 559 347 277 16,434 |
Investments in equity securitie
Investments in equity securities | 12 Months Ended |
Dec. 31, 2021 | |
Investments Debt And Equity Securities [Abstract] | |
Investments in equity securities | Notes to Consolidated Financial Statements (Continued) (4) Investments Investments in equity securities as of December 31, 2021 and 2020 are summarized based on the primary industry of the investee in the table below (in millions). Cost Basis Net Unrealized Gains Fair Value December 31, 2021 * Banks, insurance and finance $ 26,822 $ 62,236 $ 89,058 Consumer products 36,076 154,945 191,021 Commercial, industrial and other 41,707 28,933 70,640 $ 104,605 $ 246,114 $ 350,719 * Approximately 73% of the aggregate fair value was concentrated in four companies (American Express Company – $24.8 billion; Apple Inc. – $161.2 billion; Bank of America Corporation – $46.0 billion and The Coca-Cola Company – $23.7 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). Investments in commercial, industrial and other equity securities include our investments in Occidental Corporation (“Occidental”), which we acquired in 2019. These investments were acquired for a total of $10 billion and consist of Occidental Cumulative Perpetual Preferred Stock with an aggregate liquidation value of $10 billion and warrants, which currently permit us 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 and is mandatorily redeemable under certain specified events. 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 | 12 Months Ended |
Dec. 31, 2021 | |
Equity Method Investments And Joint Ventures [Abstract] | |
Equity method investments | ( 5) Equity 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 26.6% of the outstanding shares of Kraft Heinz common stock. We recorded equity method earnings from our investment in Kraft Heinz of $269 million in 2021, $95 million in 2020 and $493 million in 2019. Equity method earnings included the effects of goodwill and identifiable intangible asset impairment charges recorded by Kraft Heinz. Our share of such charges was approximately $350 million in 2021, $850 million in 2020 and $450 million in 2019. We received dividends from Kraft Heinz of $521 million in each of 2021, 2020 and 2019, which we recorded as reductions in our carrying value. Shares of Kraft Heinz common stock are publicly-traded and the fair value of our investment was approximately $11.7 billion at December 31, 2021 and $11.3 billion at December 31, 2020. The carrying value of our investment was approximately $13.1 billion at December 31, 2021 and $13.3 billion at December 31, 2020. As of December 31, 2021, the carrying value of our investment exceeded the fair value based on the quoted market price by approximately 11% of the carrying value. We evaluated our investment in Kraft Heinz for impairment. Based on the prevailing facts and circumstances, we concluded recognition of an impairment charge in earnings was not required as of December 31, 2021. Notes to Consolidated Financial Statements (Continued) ( 5) Equity (Continued) Summarized consolidated financial information of Kraft Heinz follows (in millions). December 25, 2021 December 26, 2020 Assets $ 93,394 $ 99,830 Liabilities 43,942 49,587 Year ending December 25, 2021 Year ending December 26, 2020 Year ending December 28, 2019 Sales $ 26,042 $ 26,185 $ 24,977 Net earnings attributable to Kraft Heinz common shareholders $ 1,012 $ 356 $ 1,935 Other investments accounted for pursuant to the equity method include our investments in Berkadia Commercial Mortgage LLC (“Berkadia”), Pilot Travel Centers LLC (“Pilot”), Electric Transmission Texas, LLC (“ETT”) and beginning in 2021, Iroquois Gas Transmission System L.P. (“Iroquois”). The aggregate carrying value of our investments in these entities was $4.3 billion as of December 31, 2021 and $4.0 billion as of December 31, 2020. Our equity method earnings in these entities were $726 million in 2021, $631 million in 2020 and $683 million in 2019. During 2021, we received distributions of approximately $1.2 billion from these investees. 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 is a servicer of commercial real estate loans in the U.S., performing primary, master and special servicing functions for U.S. government agency programs, commercial mortgage-backed securities transactions, banks, insurance companies and other financial institutions. Berkadia funds a portion of its operations through commercial paper borrowings, which are currently limited to $1.5 billion. On December 31, 2021, Berkadia’s commercial paper outstanding was $1.47 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 of any losses incurred under the policy. BHE subsidiaries own a 50% noncontrolling interest in ETT, an owner and operator of electric transmission assets in Texas and a 50% noncontrolling interest in Iroquois, which owns and operates a natural gas pipeline located in New York and Connecticut. We own a 38.6% interest in Pilot, headquartered in Knoxville, Tennessee. Pilot is the largest operator of travel centers in North America with more than 800 retail locations across 44 U.S. states and six Canadian provinces and through wholesale distribution. Pilot’s revenues in 2021 were approximately $45 billion. The Haslam family currently owns a 50.1% interest in Pilot and a third party owns the remaining 11.3% interest. We have an agreement to acquire in 2023 an additional 41.4% interest in Pilot 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 | 12 Months Ended |
Dec. 31, 2021 | |
Investments Debt And Equity Securities [Abstract] | |
Investment and derivative contract gains/losses | (6) Investment and derivative contract gains/losses Investment and derivative contract gains/losses for each of the three years ending December 31, 2021 are summarized as follows (in millions). 2021 2020 2019 Investment gains (losses): Equity securities: Change in unrealized investment gains (losses) during the year on securities held at the end of the year $ 76,375 $ 54,951 $ 69,581 Investment gains (losses) during the year on securities sold 997 (14,036 ) 1,585 77,372 40,915 71,166 Fixed maturity securities: Gross realized gains 85 56 87 Gross realized losses (29 ) (27 ) (25 ) Other 148 (39 ) (105 ) Investment gains (losses) 77,576 40,905 71,123 Derivative contract gains (losses) 966 (159 ) 1,484 $ 78,542 $ 40,746 $ 72,607 Notes to Consolidated Financial Statements (Continued) (6) Investment and derivative contract gains/losses (Continued) Equity securities gains and losses include unrealized gains and losses from changes in fair values during the year on equity securities we still owned at the end of the year, as well as gains and losses on securities we sold during the year. As reflected in the Consolidated Statements of Cash Flows, we received proceeds of approximately $15.8 billion in 2021, $38.8 billion in 2020 and $14.3 billion in 2019 from sales of equity securities. In the preceding table, investment gains and losses on equity securities sold during the year represent the difference between the sales proceeds and the fair value of the equity securities sold at the beginning of the applicable year or, if later, the purchase date. Our taxable gains and losses on equity securities sold are generally the difference between the proceeds from sales and original cost. Taxable gains were $3.6 billion in 2021, $6.2 billion in 2020 and $3.2 billion in 2019. 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). December 31, 2021 2020 Balance sheet liabilities - at fair value $ 99 $ 1,065 Notional value 6,992 10,991 Intrinsic value — 727 Weighted average remaining life (in years) 0.5 1.2 Notional value in the preceding table represents the aggregate undiscounted amounts payable assuming the value of each index is zero on 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. Contracts comprising 63% of the notional value as of December 31, 2021 will expire in the first quarter of 2022. 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 $1.3 billion with respect to unexpired contracts as of December 31, 2021 and we have no counterparty credit risk. |
Loans and finance receivables
Loans and finance receivables | 12 Months Ended |
Dec. 31, 2021 | |
Receivables [Abstract] | |
Loans and finance receivables | (7) Loans and finance receivables Loans and finance receivables are summarized as follows (in millions). December 31, 2021 2020 Loans and finance receivables before allowances and discounts $ 22,065 $ 20,436 Allowances for credit losses (765 ) (712 ) Unamortized acquisition discounts and points (549 ) (523 ) $ 20,751 $ 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 2021, 2020 and 2019 follow (in millions). 2021 2020 2019 Balance at beginning of year $ 712 $ 167 $ 177 Adoption of ASC 326 — 486 — Provision for credit losses 88 177 125 Charge-offs, net of recoveries (35 ) (118 ) (135 ) Balance at December 31 $ 765 $ 712 $ 167 At December 31, 2021, approximately 99% of manufactured and site-built home loan balances were evaluated collectively for impairment. At December 31, 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 December 31, 2021 follows (in millions). Origination Year 2021 2020 2019 2018 2017 Prior Total Performing $ 4,898 $ 3,164 $ 2,238 $ 1,694 $ 1,259 $ 6,842 $ 20,095 Non-performing 4 5 6 7 5 40 67 Total $ 4,902 $ 3,169 $ 2,244 $ 1,701 $ 1,264 $ 6,882 $ 20,162 Notes to Consolidated Financial Statements (Continued) (7) Loans and finance receivables (Continued) We are also party to commercial loan agreements with Seritage Growth Properties (“Seritage”) and Lee Enterprises, Inc, (“Lee”), in which loan balances aggregated $1.9 billion at December 31, 2021 and $2.1 billion at December 31, 2020. The Seritage loan is pursuant to a $2.0 billion term loan facility and the outstanding loan is secured by mortgages on its real estate properties. During the fourth quarter of 2021, the loan agreement with Seritage was amended to allow optional loan prepayments without penalty and on December 31, 2021, Seritage made a loan prepayment of $160 million. The amendments further provide Seritage with the option to extend the maturity of the loan to July 31, 2025, if the outstanding principal has been reduced to $800 million by the original expiration date of July 31, 2023. The loan to Lee matures in 2045 and was made in connection with its acquisition of our newspaper operations and the repayment by Lee of its then outstanding credit facilities. 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 | 12 Months Ended |
Dec. 31, 2021 | |
Receivables [Abstract] | |
Other receivables | (8) Other receivables Other receivables are comprised of the following (in millions). December 31, 2021 December 31, 2020 Insurance and other: Insurance premiums receivable $ 15,050 $ 14,025 Reinsurance recoverables 4,900 4,805 Trade receivables 12,971 11,521 Other 3,146 2,637 Allowances for credit losses (679 ) (678 ) $ 35,388 $ 32,310 Railroad, utilities and energy: Trade receivables $ 3,678 $ 3,235 Other 650 438 Allowances for credit losses (151 ) (131 ) $ 4,177 $ 3,542 Provisions for credit losses with respect to receivables summarized above were $441 million in 2021, $564 million in 2020 and $363 million in 2019. Charge-offs, net of recoveries, were $420 million in 2021, $401 million in 2020 and $350 million in 2019. |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2021 | |
Inventory Disclosure [Abstract] | |
Inventories | (9) Inventories Inventories are comprised of the following (in millions). December 31, 2021 2020 Raw materials $ 5,743 $ 4,821 Work in process and other 3,192 2,541 Finished manufactured goods 4,530 4,412 Goods acquired for resale 7,489 7,434 $ 20,954 $ 19,208 |
Property, plant and equipment i
Property, plant and equipment including equipment held for lease | 12 Months Ended |
Dec. 31, 2021 | |
Property, plant and equipment including equipment held for lease | (10) Property, plant and equipment A summary of property, plant and equipment of our insurance and other businesses follows (in millions). December 31, 2021 2020 Land, buildings and improvements $ 14,070 $ 13,799 Machinery and equipment 26,063 25,488 Furniture, fixtures and other 4,640 4,530 44,773 43,817 Accumulated depreciation (23,939 ) (22,617 ) $ 20,834 $ 21,200 Notes to Consolidated Financial Statements (Continued) (10) Property, plant and equipment (Continued) 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. December 31, 2021 2020 Railroad: Land, track structure and other roadway $ 65,843 $ 63,824 Locomotives, freight cars and other equipment 13,822 13,523 Construction in progress 1,027 916 80,692 78,263 Accumulated depreciation (14,978 ) (13,175 ) 65,714 65,088 Utilities and energy: Utility generation, transmission and distribution systems 90,223 86,730 Interstate natural gas pipeline assets 17,423 16,667 Independent power plants and other assets 13,695 12,671 Construction in progress 4,196 3,308 125,537 119,376 Accumulated depreciation (35,721 ) (33,248 ) 89,816 86,128 $ 155,530 $ 151,216 Depreciation expense for each of the three years ending December 31, 2021 is summarized below (in millions). 2021 2020 2019 Insurance and other $ 2,318 $ 2,320 $ 2,269 Railroad, utilities and energy 5,990 5,799 5,297 $ 8,308 $ 8,119 $ 7,566 |
Equipment held for lease [Member] | |
Property, plant and equipment including equipment held for lease | (11) Equipment held for lease Equipment held for lease includes railcars, aircraft, over-the-road trailers, intermodal tank containers, cranes, storage units and furniture. Equipment held for lease is summarized below (in millions). December 31, 2021 2020 Railcars $ 9,448 $ 9,402 Aircraft 9,234 8,204 Other 5,053 4,868 23,735 22,474 Accumulated depreciation (8,817 ) (7,873 ) $ 14,918 $ 14,601 Depreciation expense for equipment held for lease was $1,158 million in 2021, $1,200 million in 2020 and $1,181 million in 2019. Fixed and variable operating lease revenues for each of the three years ending December 31, 2021 are summarized below (in millions). 2021 2020 2019 Fixed lease revenue $ 4,482 $ 4,262 $ 4,415 Variable lease revenue 1,506 947 1,441 $ 5,988 $ 5,209 $ 5,856 Notes to Consolidated Financial Statements (Continued) (11) Equipment held for lease (Continued) A summary of future operating lease receipts as of December 31, 2021 follows (in millions). 2022 2023 2024 2025 2026 Thereafter Total $ 2,922 $ 2,233 $ 1,623 $ 1,009 $ 536 $ 392 $ 8,715 |
Leases
Leases | 12 Months Ended |
Dec. 31, 2021 | |
Leases [Abstract] | |
Leases | (12) Leases We are party to contracts where we lease property from others under contracts classified as operating leases. We primarily lease office and operating facilities, locomotives, freight cars, energy generation facilities and transmission assets. The weighted average remaining term of our operating leases was approximately 7.2 years at December 31, 2021 and 7.3 years at December 31, 2020. Operating lease right-of-use assets are included in other assets and were $5,091 million at December 31, 2021 and $5,579 million at December 31, 2020. Our lease liabilities are included in accounts payable, accruals and other liabilities and were $4,991 million at December 31, 2021 and $5,469 million at December 31, 2020. The weighted average discount rate used to measure lease liabilities was approximately 3.5% at December 31, 2021 and 3.6% at December 31, 2020. A summary of our remaining future operating lease payments reconciled to lease liabilities as of December 31, 2021 and December 31, 2020 follows (in millions). Year 1 Year 2 Year 3 Year 4 Year 5 Thereafter Total lease payments Amount representing interest Lease liabilities December 31: 2021 $ 1,238 $ 1,038 $ 835 $ 631 $ 418 $ 1,571 $ 5,731 $ (740 ) $ 4,991 2020 1,342 1,111 905 725 544 1,691 6,318 (849 ) 5,469 Components of operating lease costs for the three years ending December 31, 2021, by type, are summarized in the following table (in millions). 2021 2020 2019 Operating lease cost $ 1,426 $ 1,413 $ 1,459 Short-term lease cost 154 145 178 Variable lease cost 223 228 276 Sublease income (10 ) (10 ) (24 ) Total lease cost $ 1,793 $ 1,776 $ 1,889 |
Goodwill and other intangible a
Goodwill and other intangible assets | 12 Months Ended |
Dec. 31, 2021 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Goodwill and other intangible assets | (13) Goodwill Reconciliations of the changes in the carrying value of goodwill during 2021 and 2020 follow (in millions). December 31, 2021 2020 Balance at beginning of year $ 73,734 $ 81,882 Business acquisitions 353 1,758 Impairment charges — (10,033 ) Other, including foreign currency translation (212 ) 127 Balance at end of year* $ 73,875 $ 73,734 * Net of accumulated goodwill impairments of During 2020, we reevaluated goodwill and indefinite-lived intangible assets of certain of our reporting units for impairment due to the disruptions arising from the COVID-19 pandemic, which we believed most significantly affected the air travel, commercial aerospace and supporting industries. We recorded goodwill impairment charges of approximately $10 billion and indefinite-lived intangible asset impairment charges of $638 million in the second quarter of 2020. Approximately $10 billion of these charges pertained to Precision Castparts Corp. (“PCC”), one of the largest businesses within Berkshire’s manufacturing segment. The carrying values of PCC-related goodwill and indefinite-lived intangible assets prior to the impairment charges were approximately $31 billion. The impairment charges were determined based on discounted cash flow methods and reflected our assessments of the risks and uncertainties associated with the aerospace industry. Significant judgment is required in estimating the fair value of a reporting unit and in performing impairment tests. Due to the inherent uncertainty in forecasting future cash flows and earnings, actual results in the future may vary significantly from the forecasts. Notes to Consolidated Financial Statements (Continued) (13) Goodwill and other intangible assets (Continued) The gross carrying amounts and related accumulated amortization of other intangible assets are summarized as follows (in millions). December 31, 2021 December 31, 2020 Gross carrying amount Accumulated amortization Net carrying value Gross carrying amount Accumulated amortization Net carrying value Insurance and other: Customer relationships $ 27,335 $ 6,450 $ 20,885 $ 27,374 $ 5,756 $ 21,618 Trademarks and trade names 5,176 802 4,374 5,206 779 4,427 Patents and technology 4,763 3,484 1,279 4,766 3,313 1,453 Other 3,390 1,442 1,948 3,339 1,375 1,964 $ 40,664 $ 12,178 $ 28,486 $ 40,685 $ 11,223 $ 29,462 Railroad, utilities and energy: Customer relationships $ 678 $ 396 $ 282 $ 678 $ 361 $ 317 Trademarks, trade names and other 1,015 146 869 1,003 98 905 $ 1,693 $ 542 $ 1,151 $ 1,681 $ 459 $ 1,222 Intangible asset amortization expense was $1,252 million in 2021, $1,277 million in 2020 and $1,317 million in 2019. Estimated amortization expense over the next five years is as follows (in millions): 2022 – $1,189; 2023 – $1,120; 2024 – $1,023; 2025 – $939 and 2026 – $846. Intangible assets with indefinite lives were $18.5 billion as of December 31, 2021 and $18.3 billion as of December 31, 2020 and primarily related to certain customer relationships and trademarks and trade names. |
Supplemental cash flow informat
Supplemental cash flow information | 12 Months Ended |
Dec. 31, 2021 | |
Supplemental Cash Flow Elements [Abstract] | |
Supplemental cash flow information | ( 14 ) Supplemental cash flow information A summary of supplemental cash flow information for each of the three years ending December 31, 2021 is presented in the following table (in millions). 2021 2020 2019 Cash paid during the year for: Income taxes $ 5,412 $ 5,001 $ 5,415 Interest: Insurance and other 1,227 1,001 1,011 Railroad, utilities and energy 3,162 3,006 2,879 Non-cash investing and financing activities: Liabilities assumed in connection with business acquisitions 102 6,981 766 Operating lease liabilities arising from obtaining right-of-use assets 687 729 782 |
Dividend restrictions - Insuran
Dividend restrictions - Insurance subsidiaries | 12 Months Ended |
Dec. 31, 2021 | |
Equity [Abstract] | |
Dividend restrictions - Insurance subsidiaries | ( 15 ) Dividend restrictions – Insurance subsidiaries Payments of dividends by our insurance subsidiaries are restricted by insurance statutes and regulations. Without prior regulatory approval, our principal insurance subsidiaries may declare up to approximately $30 billion as ordinary dividends during 2022. Investments in fixed maturity and equity securities and short-term investments on deposit with U.S. state insurance authorities in accordance with state insurance regulations were approximately $6.4 billion at December 31, 2021 and $5.5 billion at December 31, 2020. Combined shareholders’ equity of U.S. based insurance subsidiaries determined pursuant to statutory accounting rules (Surplus as Regards Policyholders) was approximately $301 billion at December 31, 2021 and $237 billion at December 31, 2020. Statutory surplus differs from the corresponding amount based on GAAP, due to differences in accounting for certain assets and liabilities. For instance, deferred charges reinsurance assumed, deferred policy acquisition costs, unrealized gains on certain investments and related deferred income taxes are recognized for GAAP but not for statutory reporting purposes. In addition, the carrying values of certain assets, such as goodwill and non-insurance entities owned by our insurance subsidiaries, are not fully recognized for statutory reporting purposes. |
Unpaid losses and loss adjustme
Unpaid losses and loss adjustment expenses | 12 Months Ended |
Dec. 31, 2021 | |
Insurance [Abstract] | |
Unpaid losses and loss adjustment expenses | Notes to Consolidated Financial Statements (Continued) (1 6 ) 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 17), for each of the three years ending December 31, 2021 is as follows (in millions). 2021 2020 2019 Balances at beginning of year: Gross liabilities $ 79,854 $ 73,019 $ 68,458 Reinsurance recoverable on unpaid losses (2,912 ) (2,855 ) (3,060 ) Net liabilities 76,942 70,164 65,398 Incurred losses and loss adjustment expenses: Current accident year 52,099 43,400 43,335 Prior accident years (3,116 ) (356 ) (752 ) Total 48,983 43,044 42,583 Paid losses and loss adjustment expenses: Current accident year (22,897 ) (17,884 ) (19,482 ) Prior accident years (18,904 ) (18,862 ) (17,642 ) Total (41,801 ) (36,746 ) (37,124 ) Foreign currency effect (420 ) 480 (23 ) Business acquisition (disposition) — — (670 ) Balances at December 31: Net liabilities 83,704 76,942 70,164 Reinsurance recoverable on unpaid losses 2,960 2,912 2,855 Gross liabilities $ 86,664 $ 79,854 $ 73,019 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”). Incurred and paid losses and loss adjustment expenses are net of reinsurance recoveries. Current accident year incurred losses included approximately $2.9 billion in 2021, $950 million in 2020 and $1.0 billion in 2019 from significant catastrophe events (losses in excess of $100 million per event) occurring in the respective year. Current accident year incurred losses from private passenger auto insurance also increased significantly in 2021 as compared to 2020, primarily due to increased claims frequencies and severities. In 2020, current accident year incurred losses reflected low private passenger auto claims frequencies and increased loss commercial insurance and reinsurance business attributable to the COVID-19 pandemic. We recorded net reductions of estimated ultimate liabilities for prior accident years of $3.1 billion in 2021, $356 million in 2020 and $752 million in 2019, which produced corresponding reductions in incurred losses and loss adjustment expenses in those periods. These reductions, as percentages of the net liabilities at the beginning of each year, were 4.0% in 2021, 0.5% in 2020 and 1.1% in 2019. Estimated ultimate liabilities for prior accident years from primary insurance were reduced by $2.4 billion in 2021, $518 million in 2020 and $457 million in 2019. The reductions in 2021 and 2020 derived primarily from private passenger auto and medical professional liability claims. In both 2021 and 2020, we also lowered estimated ultimate liabilities for prior accident years with respect to workers’ compensation claims, which were largely offset by increases in ultimate liabilities for other casualty claims. The decrease in incurred losses for prior accident years in 2019 reflected reductions in medical professional liability and workers’ compensation estimates partially offset by higher other casualty estimates. Estimated ultimate liabilities for prior accident years related to property and casualty reinsurance decreased $718 million in 2021, increased $162 million in 2020 and decreased $295 million in 2019. The increase in 2020 included increased claims estimates for legacy casualty exposures. Notes to Consolidated Financial Statements (Continued) (1 6 ) Unpaid losses and loss adjustment expenses (Continued) Estimated net claim liabilities for environmental, asbestos and other latent injury exposures were approximately $2.1 billion at December 31, 2021 and 2020. These liabilities are subject to change due to changes in the legal and regulatory environment. We are unable to reliably estimate additional losses or a range of losses that are reasonably possible for these claims. Disaggregated information concerning our claims liabilities is provided below and in the pages that follow. The effects of businesses acquired or disposed during the year are reflected in the data presented on a retrospective basis. A reconciliation of the disaggregated net unpaid losses and allocated loss adjustment expenses (the latter referred to as “ALAE”) of GEICO, Berkshire Hathaway Primary Group (“BH Primary”) and Berkshire Hathaway Reinsurance Group (“BHRG”) to our consolidated unpaid losses and loss adjustment expenses as of December 31, 2021 follows (in millions). GEICO Physical Damage GEICO Auto Liability BH Primary Medical Professional Liability BH Primary Workers’ Compensation and Other Casualty BHRG Property BHRG Casualty Total Unpaid losses and ALAE, net $ 729 $ 19,768 $ 8,506 $ 13,579 $ 13,119 $ 23,611 $ 79,312 Reinsurance recoverable 11 1,085 28 639 181 892 2,836 Unpaid unallocated loss adjustment expenses 2,448 Other unpaid losses and loss adjustment expenses 2,068 Unpaid losses and loss adjustment expenses $ 86,664 GEICO GEICO’s claim liabilities predominantly relate to various types of private passenger auto liability and physical damage claims. For such claims, we establish and evaluate unpaid claim liabilities using standard actuarial loss development methods and techniques. The actuarial methods utilize historical claims data, adjusted when deemed appropriate to reflect perceived changes in loss patterns. Claim liabilities include average, case, case development and IBNR estimates. We establish average liabilities based on expected severities for newly reported physical damage and liability claims prior to establishing individual case reserves when insufficient time or information is available for specific claim estimates and for large volumes of minor physical damage claims that once reported are quickly settled. We establish case loss estimates for liability claims, including estimates for loss adjustment expenses, as the facts and merits of the claim are evaluated. Claim estimates for liability coverages normally reflect greater uncertainty than physical damage coverages, primarily due to the longer claim-tails, the greater chance of litigation and the time needed to evaluate facts at the time the case estimate is first established. The “claim-tail” is the period between the claim occurrence date and claim settlement or payment date. Consequently, we establish additional case development liabilities, which are usually percentages of the case liabilities. For unreported claims, IBNR liabilities are estimated by projecting the ultimate number of claims expected (reported and unreported) for each significant coverage and deducting reported claims to produce estimated unreported claims. The product of the average cost per unreported claim and the number of unreported claims produces the IBNR liability estimate. We may record supplemental IBNR liabilities in certain situations when actuarial techniques are difficult to apply. Notes to Consolidated Financial Statements (Continued) (1 6 ) Unpaid losses and loss adjustment expenses (Continued) GEICO’s net incurred and paid auto physical damage and liability losses and ALAE are summarized by accident year below. IBNR and case development liabilities are as of December 31, 2021. Claim counts are established when accidents that may result in a liability are reported and are based on policy coverage. Each claim event may generate claims under multiple coverages, and thus may result in multiple counts. The “Cumulative Number of Reported Claims” includes the combined number of reported claims for all auto policy coverages. Dollars are in millions. Physical Damage Incurred Losses and ALAE through December 31, Cumulative Number of Accident Year 2020* 2021 IBNR and Case Development Liabilities Reported Claims (in thousands) 2020 $ 8,603 $ 8,396 $ 64 7,935 2021 12,135 420 8,967 Incurred losses and ALAE $ 20,531 Cumulative Paid Losses and ALAE through December 31, Accident Year 2020* 2021 2020 $ 8,118 $ 8,385 2021 11,427 Paid losses and ALAE 19,812 Net unpaid losses and ALAE for 2020 – 2021 accident years 719 Net unpaid losses and ALAE for accident years before 2020 10 Net unpaid losses and ALAE $ 729 Auto Liability Incurred Losses and ALAE through December 31, Cumulative Number of Accident Year 2017* 2018* 2019* 2020* 2021 IBNR and Case Development Liabilities Reported Claims (in thousands) 2017 $ 14,095 $ 13,864 $ 13,888 $ 13,824 $ 13,777 $ 232 2,646 2018 15,383 15,226 14,985 14,838 495 2,713 2019 16,901 16,678 16,191 1,202 2,778 2020 14,637 14,024 2,564 2,087 2021 17,481 5,541 2,216 Incurred losses and ALAE $ 76,311 Cumulative Paid Losses and ALAE through December 31, Accident Year 2017* 2018* 2019* 2020* 2021 2017 $ 5,806 $ 9,944 $ 11,799 $ 12,729 $ 13,260 2018 6,218 10,772 12,658 13,757 2019 6,742 11,671 13,851 2020 5,395 9,839 2021 6,450 Paid losses and ALAE 57,157 Net unpaid losses and ALAE for 2017 – 2021 accident years 19,154 Net unpaid losses and ALAE for accident years before 2017 614 Net unpaid losses and ALAE $ 19,768 * Unaudited required supplemental information Notes to Consolidated Financial Statements (Continued) (1 6 ) Unpaid losses and loss adjustment expenses (Continued) BH Primary BH Primary’s liabilities for unpaid losses and loss adjustment expenses primarily derive from medical professional liability and workers’ compensation and other casualty insurance, which includes commercial auto and general liability insurance. Net incurred and paid losses and ALAE are summarized by accident year in the following tables, disaggregated by medical professional liability coverages and workers’ compensation and other casualty coverages. IBNR and case development liabilities are as of December 31, 2021. The cumulative number of reported claims reflects the number of individual claimants and includes claims that ultimately resulted in no liability or payment. Dollars are in millions. Medical Professional Liability We estimate the ultimate expected incurred losses and loss adjustment expenses for medical professional claim liabilities using a variety of commonly accepted actuarial methodologies, such as the paid and incurred development method and Bornhuetter-Ferguson based methods, as well as other techniques that consider insured loss exposures and historical and expected loss trends, among other factors. These methodologies produce loss estimates from which we determine our best estimate. In addition, we study developments in older accident years and adjust initial loss estimates to reflect recent developments based upon claim age, coverage and litigation experience. Incurred Losses and ALAE through December 31, Cumulative Number of Accident Year 2012* 2013* 2014* 2015* 2016* 2017* 2018* 2019* 2020* 2021 IBNR and Case Development Liabilities Reported Claims (in thousands) 2012 $ 1,336 $ 1,306 $ 1,277 $ 1,223 $ 1,168 $ 1,078 $ 1,035 $ 998 $ 988 $ 971 $ 51 11 2013 1,328 1,296 1,261 1,195 1,127 1,086 1,019 985 978 62 11 2014 1,370 1,375 1,305 1,246 1,218 1,127 1,061 1,033 108 11 2015 1,374 1,342 1,269 1,290 1,218 1,157 1,093 136 12 2016 1,392 1,416 1,414 1,394 1,341 1,288 213 15 2017 1,466 1,499 1,495 1,474 1,382 328 21 2018 1,602 1,650 1,659 1,580 495 23 2019 1,670 1,691 1,663 869 20 2020 1,704 1,751 1,319 27 2021 1,852 1,672 15 Incurred losses and ALAE $ 13,591 Cumulative Paid Losses and ALAE through December 31, Accident Year 2012* 2013* 2014* 2015* 2016* 2017* 2018* 2019* 2020* 2021 2012 $ 15 $ 93 $ 218 $ 377 $ 522 $ 642 $ 725 $ 789 $ 830 $ 848 2013 15 90 219 368 518 635 743 793 821 2014 21 106 238 396 540 671 752 788 2015 23 108 218 382 543 663 719 2016 22 115 274 461 620 712 2017 27 128 300 457 582 2018 35 166 367 543 2019 39 160 314 2020 34 148 2021 36 Paid losses and ALAE 5,511 Net unpaid losses and ALAE for 2012 – 2021 accident years 8,080 Net unpaid losses and ALAE for accident years before 2012 426 Net unpaid losses and ALAE $ 8,506 * Unaudited required supplemental information Notes to Consolidated Financial Statements (Continued) (1 6 ) Unpaid losses and loss adjustment expenses (Continued) Workers’ Compensation and Other Casualty We periodically evaluate ultimate loss and loss adjustment expense estimates for the workers’ compensation and other casualty claims using a combination of commonly accepted actuarial methodologies such as the Bornhuetter-Ferguson and chain-ladder approaches using paid and incurred loss data. Paid and incurred loss data is segregated and analyzed by state due to the different state regulatory frameworks that may impact certain factors, including the duration and amount of loss payments. We also separately study the various components of liabilities, such as employee lost wages, medical expenses and the costs of claims investigations and administration. We establish case liabilities for reported claims based upon the facts and circumstances of the claim. The excess of the ultimate projected losses, including the expected development of case estimates, and the case-basis liabilities is included in IBNR liabilities. Incurred Losses and ALAE through December 31, Cumulative Number of Accident Year 2012* 2013* 2014* 2015* 2016* 2017* 2018* 2019* 2020* 2021 IBNR and Case Development Liabilities Reported Claims (in thousands) 2012 $ 873 $ 850 $ 837 $ 791 $ 780 $ 762 $ 750 $ 736 $ 718 $ 709 $ 39 53 2013 1,258 1,228 1,178 1,127 1,096 1,072 1,050 1,028 1,008 96 67 2014 1,743 1,638 1,614 1,548 1,482 1,497 1,477 1,460 163 90 2015 2,169 2,127 2,042 2,014 2,025 1,997 2,006 242 111 2016 2,511 2,422 2,359 2,325 2,365 2,370 396 115 2017 3,044 2,907 2,842 2,843 2,852 503 139 2018 3,544 3,412 3,480 3,536 908 160 2019 4,074 4,102 4,175 1,278 173 2020 4,421 4,278 2,089 141 2021 5,197 3,545 218 Incurred losses and ALAE $ 27,591 Cumulative Paid Losses and ALAE through December 31, Accident Year 2012* 2013* 2014* 2015* 2016* 2017* 2018* 2019* 2020* 2021 2012 $ 116 $ 299 $ 414 $ 501 $ 560 $ 592 $ 611 $ 626 $ 634 $ 640 2013 177 422 609 725 793 835 858 874 884 2014 239 557 800 1,007 1,111 1,176 1,214 1,245 2015 289 700 1,017 1,289 1,488 1,570 1,648 2016 329 775 1,148 1,461 1,661 1,778 2017 441 1,003 1,434 1,771 1,956 2018 538 1,198 1,683 2,028 2019 682 1,478 2,022 2020 695 1,391 2021 833 Paid losses and ALAE 14,425 Net unpaid losses and ALAE for 2012 – 2021 accident years 13,166 Net unpaid losses and ALAE for accident years before 2012 413 Net unpaid losses and ALAE $ 13,579 * Unaudited required supplemental information BHRG We use a variety of methodologies to establish BHRG’s estimates for property and casualty claims liabilities. These methodologies include paid and incurred loss development techniques, incurred and paid loss Bornhuetter-Ferguson techniques and frequency and severity techniques, as well as ground-up techniques when appropriate. Our claims liabilities are principally a function of reported losses from ceding companies, case development and IBNR liability estimates. Case loss estimates are reported under our contracts either individually or in bulk as provided under the terms of the contracts. We may independently evaluate case losses reported by the ceding company, and if deemed appropriate, we may establish case liabilities based on our estimates. Notes to Consolidated Financial Statements (Continued) (1 6 ) Unpaid losses and loss adjustment expenses (Continued) Estimated IBNR liabilities are affected by expected case loss emergence patterns and expected loss ratios, which are evaluated as groups of contracts with similar exposures or on a contract-by-contract basis. Estimated case and IBNR liabilities for major catastrophe events are generally based on a per-contract assessment of the ultimate cost associated with the individual loss event. Claim count data is not provided consistently by ceding companies under our contracts or is otherwise considered unreliable. Net incurred and paid losses and ALAE of BHRG are disaggregated based on losses that are expected to have shorter claim-tails (property) and losses expected to have longer claim-tails (casualty). Under certain contracts, the coverage can apply to multiple lines of business written by the ceding company, whether property, casualty or combined, and the ceding company may not report loss data by such lines consistently, if at all. In those instances, we allocated losses to property and casualty coverages based on internal estimates. BHRG’s disaggregated incurred and paid losses and ALAE are summarized by accident year. IBNR and case development liabilities are as of December 31, 2021. Dollars are in millions. Property Incurred Losses and ALAE through December 31, Accident Year 2012* 2013* 2014* 2015* 2016* 2017* 2018* 2019* 2020* 2021 IBNR and Case Development Liabilities 2012 $ 3,129 $ 2,822 $ 2,621 $ 2,382 $ 2,330 $ 2,327 $ 2,309 $ 2,294 $ 2,285 $ 2,305 $ 31 2013 3,198 3,035 2,690 2,600 2,579 2,520 2,469 2,455 2,453 29 2014 2,619 2,408 2,297 2,154 2,100 2,028 1,999 1,996 33 2015 3,256 3,103 2,546 2,950 2,948 2,971 2,975 154 2016 3,261 3,890 3,616 3,585 3,589 3,578 112 2017 5,253 4,953 4,806 4,698 4,631 141 2018 4,375 4,467 4,344 4,227 461 2019 4,065 4,234 3,992 541 2020 5,795 6,048 1,504 2021 6,669 3,405 Incurred losses and ALAE $ 38,874 Cumulative Paid Losses and ALAE through December 31, Accident Year 2012* 2013* 2014* 2015* 2016* 2017* 2018* 2019* 2020* 2021 2012 $ 259 $ 1,218 $ 1,796 $ 1,934 $ 2,022 $ 2,097 $ 2,117 $ 2,162 $ 2,180 $ 2,201 2013 515 1,424 1,863 2,060 2,180 2,260 2,300 2,328 2,352 2014 465 1,234 1,555 1,693 1,758 1,808 1,838 1,860 2015 577 1,596 1,946 2,141 2,245 2,427 2,510 2016 705 1,794 2,186 2,647 2,899 3,083 2017 1,025 2,712 3,633 3,944 4,163 2018 907 2,310 2,831 3,061 2019 748 2,247 2,830 2020 956 2,882 2021 1,214 Paid losses and ALAE 26,156 Net unpaid losses and ALAE for 2012 – 2021 accident years 12,718 Net unpaid losses and ALAE for accident years before 2012 401 Net unpaid losses and ALAE $ 13,119 * Unaudited required supplemental information Notes to Consolidated Financial Statements (Continued) (1 6 ) Unpaid losses and loss adjustment expenses (Continued) Casualty Incurred Losses and ALAE through December 31, Accident Year 2012* 2013* 2014* 2015* 2016* 2017* 2018* 2019* 2020* 2021 IBNR and Case Development Liabilities 2012 $ 2,792 $ 2,974 $ 2,808 $ 2,871 $ 2,799 $ 2,686 $ 2,619 $ 2,562 $ 2,556 $ 2,557 $ 372 2013 2,132 2,268 2,298 2,141 2,086 2,032 1,937 1,865 1,837 331 2014 1,872 2,069 2,038 2,001 1,915 1,952 1,942 1,847 431 2015 1,877 2,082 2,109 2,008 1,882 1,844 1,817 395 2016 1,906 2,115 2,023 1,980 1,900 1,843 451 2017 2,193 2,685 2,563 2,470 2,383 582 2018 2,924 3,559 3,482 3,340 904 2019 3,429 3,901 3,780 1,521 2020 3,861 3,987 2,147 2021 3,744 2,584 Incurred losses and ALAE $ 27,135 Cumulative Paid Losses and ALAE through December 31, Accident Year 2012* 2013* 2014* 2015* 2016* 2017* 2018* 2019* 2020* 2021 2012 $ 308 $ 747 $ 1,139 $ 1,368 $ 1,525 $ 1,650 $ 1,750 $ 1,810 $ 1,868 $ 1,906 2013 290 519 805 933 1,037 1,139 1,199 1,256 1,290 2014 149 477 642 752 874 959 1,103 1,147 2015 196 489 713 833 924 1,014 1,088 2016 253 555 732 862 960 1,043 2017 230 564 819 1,269 1,376 2018 265 867 1,639 1,909 2019 353 896 1,176 2020 404 970 2021 307 Paid losses and ALAE 12,212 Net unpaid losses and ALAE for 2012 – 2021 accident years 14,923 Net unpaid losses and ALAE for accident years before 2012 8,688 Net unpaid losses and ALAE $ 23,611 * Unaudited required supplemental information Required supplemental unaudited average historical claims duration information based on the net losses and ALAE incurred and paid accident year data in the preceding tables follows. The percentages show the average portions of net losses and ALAE paid by each succeeding year, with year 1 representing the current accident year. Average Annual Percentage Payout of Incurred Losses by Age, Net of Reinsurance In Year 1 2 3 4 5 6 7 8 9 10 GEICO Physical Damage 97% 3% GEICO Auto Liability 41% 30% 13% 8% 4% BH Primary Medical Professional Liability 2% 8% 12% 14% 13% 11% 8% 5% 4% 2% BH Primary Workers’ Compensation and Other Casualty 16% 21% 16% 12% 8% 4% 3% 2% 1% 1% BHRG Property 19% 36% 16% 8% 5% 4% 2% 1% 1% 1% BHRG Casualty 11% 16% 13% 9% 6% 5% 5% 3% 2% 2% |
Retroactive reinsurance contrac
Retroactive reinsurance contracts | 12 Months Ended |
Dec. 31, 2021 | |
Insurance [Abstract] | |
Retroactive reinsurance contracts | Notes to Consolidated Financial Statements (Continued) (1 7 ) Retroactive 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, after 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 charge reinsurance assumed assets for each of the three years ended December 31, 2021 follow (in millions). 2021 2020 2019 Unpaid losses and loss adjustment expenses Deferred charges - retroactive reinsurance Unpaid losses and loss adjustment expenses Deferred charges - retroactive reinsurance Unpaid losses and loss adjustment expenses Deferred charges - retroactive reinsurance Balances at beginning of year $ 40,966 $ (12,441 ) $ 42,441 $ (13,747 ) $ 41,834 $ (14,104 ) Incurred losses and loss adjustment expenses: Current year contracts 153 (17 ) — — 1,138 (453 ) Prior years’ contracts (974 ) 1,819 (399 ) 1,306 378 810 Total (821 ) 1,802 (399 ) 1,306 1,516 357 Paid losses and loss adjustment expenses (1,889 ) — (1,076 ) — (909 ) — Balances at December 31 $ 38,256 $ (10,639 ) $ 40,966 $ (12,441 ) $ 42,441 $ (13,747 ) Incurred losses and loss adjustment expenses, net of deferred charges $ 981 $ 907 $ 1,873 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 exposures to losses began. We do not believe that analysis of losses incurred and paid by accident year of the underlying event is relevant or meaningful given that our exposure to losses incepts when the contract incepts. Further, we believe the classifications of reported claims and case development liabilities have little or no practical analytical value. Currently, our largest retroactive reinsurance contract is between our subsidiary, National Indemnity Company, and certain subsidiaries of American International Group, Inc. (collectively, “AIG”). Our estimated unpaid claim liabilities with regard to the AIG contract were approximately $15.8 billion at December 31, 2021 and $17.7 billion at December 31, 2020. Claim payments under this contract commenced in 2021 and were $1.2 billion during 2021. Deferred charges related to the AIG contract were approximately $4.5 billion at December 31, 2021 and $5.4 billion at December 31, 2020. Incurred losses and loss adjustment expenses related to contracts written in prior years were $845 million in 2021, $907 million in 2020 and $1,188 million in 2019, which included recurring amortization of deferred charges and the effect of changes in the timing and amount of expected future loss payments. In establishing retroactive reinsurance claim liabilities, we analyze historical aggregate loss payment patterns and project losses into the future under various probability-weighted scenarios. We expect the claim-tail to be very long for many contracts, with some lasting several decades. We monitor claim payment activity and review ceding company reports and other information concerning the underlying losses. We reassess and revise the expected timing and amounts of ultimate losses periodically or when significant events are revealed through our monitoring and review processes. Estimated claim liabilities for retroactive reinsurance included estimates for environmental, asbestos and other latent injury exposures of approximately $12.3 billion at December 31, 2021 and $12.5 billion at December 31, 2020. Retroactive reinsurance contracts are generally subject to aggregate policy limits and thus, our exposure to such claims under these contracts is likewise limited. We monitor evolving case law and its effect on environmental and other latent injury claims. Changing laws or government regulations, newly identified toxins, newly reported claims, new theories of liability, new contract interpretations and other factors could result in increases in these liabilities, which could be material to our results of operations. We are unable to reliably estimate the amount of additional net loss or the range of net loss that is reasonably possible. |
Notes payable and other borrowi
Notes payable and other borrowings | 12 Months Ended |
Dec. 31, 2021 | |
Debt Disclosure [Abstract] | |
Notes payable and other borrowings | (1 8 ) 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 December 31, 2021. Weighted Average December 31, Interest Rate 2021 2020 Insurance and other: Berkshire Hathaway Inc. (“Berkshire”): U.S. Dollar denominated due 2022-2047 3.3 % $ 6,820 $ 8,308 Euro denominated due 2023-2041 1.0 % 7,792 8,326 Japanese Yen denominated due 2023-2060 0.6 % 6,797 6,031 Berkshire Hathaway Finance Corporation (“BHFC”): U.S. Dollar denominated due 2022-2051 3.6 % 10,758 10,766 Great Britain Pound denominated due 2039-2059 2.5 % 2,325 2,347 Other subsidiary borrowings due 2022-2045 4.0 % 4,438 4,682 Short-term subsidiary borrowings 2.9 % 342 1,062 $ 39,272 $ 41,522 During 2021, Berkshire repaid €550 million and $1.5 billion of maturing senior notes and issued €600 million of 0.5% senior notes due in 2041 and ¥160 billion (approximately $1.5 billion) of senior notes with maturity dates ranging from 2026 to 2041 and a weighted average interest rate of 0.5%. In January 2022, Berkshire repaid $600 million of maturing debt and issued ¥128.5 billion (approximately $1.1 billion) of senior notes with maturity dates ranging from 2027 to 2052 and a weighted average interest rate of 0.5%. 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 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) 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 $1.3 billion in 2021, pre-tax losses of $1.0 billion in 2020 and pre-tax gains of $192 million in 2019. Berkshire also guarantees debt of other subsidiaries, aggregating approximately $3.8 billion at December 31, 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 December 31, Interest Rate 2021 2020 Railroad, utilities and energy: Berkshire Hathaway Energy Company (“BHE”) and subsidiaries: BHE senior unsecured debt due 2023-2051 4.3 % $ 13,003 $ 13,447 Subsidiary and other debt due 2022-2064 4.1 % 36,759 36,420 Short-term borrowings 1.4 % 2,009 2,286 Burlington Northern Santa Fe (“BNSF”) and subsidiaries due 2022-2097 4.5 % 23,219 23,220 $ 74,990 $ 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 debt. These borrowing arrangements generally contain various covenants, including covenants which pertain to leverage ratios, interest coverage ratios and/or debt service coverage ratios. During 2021, BHE and its subsidiaries issued term debt of approximately $2.2 billion with maturity dates ranging from 2028 to 2052 and a weighted average interest rate of 3.2% and repaid $2.5 billion of term debt. Notes to Consolidated Financial Statements (Continued) (1 8 ) Notes payable and other borrowings (Continued) BNSF’s borrowings are primarily senior unsecured debentures. During 2021, BNSF issued $1.55 billion of term debt with maturity dates in 2051 and 2052 and a weighted average interest rate of 3.1% and repaid debt of $1.54 billion. As of December 31, 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. Our subsidiaries had unused lines of credit and commercial paper capacity to support short-term borrowing programs and provide additional liquidity. Unused lines of credit were approximately $10.4 billion at December 31, 2021, which included approximately $8.7 billion related to BHE and its subsidiaries. Debt principal repayments expected during each of the next five years are as follows (in millions). Amounts in 2022 include short-term borrowings. 2022 2023 2024 2025 2026 Insurance and other $ 1,933 $ 5,879 $ 2,154 $ 2,703 $ 3,422 Railroad, utilities and energy 4,206 4,832 3,991 3,792 2,033 $ 6,139 $ 10,711 $ 6,145 $ 6,495 $ 5,455 |
Income taxes
Income taxes | 12 Months Ended |
Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Income taxes | (19) Income taxes The liabilities for income taxes reflected in our Consolidated Balance Sheets are as follows (in millions). December 31, 2021 2020 Currently payable (receivable) $ (482 ) $ (276 ) Deferred 89,679 73,261 Other 1,046 1,113 $ 90,243 $ 74,098 The tax effects of temporary differences that give rise to significant portions of deferred tax assets and deferred tax liabilities are shown below (in millions). December 31, 2021 2020 Deferred tax liabilities: Investments – unrealized appreciation $ 55,437 $ 40,181 Deferred charges reinsurance assumed 2,234 2,613 Property, plant and equipment and equipment held for lease 31,323 30,203 Goodwill and other intangible assets 6,748 6,753 Other 4,094 3,736 99,836 83,486 Deferred tax assets: Unpaid losses and loss adjustment expenses (1,091 ) (1,135 ) Unearned premiums (990 ) (900 ) Accrued liabilities (1,868 ) (2,193 ) Regulatory liabilities (1,349 ) (1,421 ) Other (4,859 ) (4,576 ) (10,157 ) (10,225 ) Net deferred tax liability $ 89,679 $ 73,261 We have not established deferred income taxes on accumulated undistributed earnings of certain foreign subsidiaries, which are expected to be reinvested indefinitely. Repatriation of all accumulated earnings of foreign subsidiaries would be impracticable to the extent that such earnings represent capital to support normal business operations. Generally, no U.S. federal income taxes will be imposed on future distributions of foreign earnings under current law. However, distributions to the U.S. or other foreign jurisdictions could be subject to withholding and other local taxes. Notes to Consolidated Financial Statements (Continued) (19) Income taxes (Continued) Income tax expense reflected in our Consolidated Statements of Earnings for each of the three years ending December 31, 2021 was as follows (in millions). 2021 2020 2019 Federal $ 20,345 $ 10,596 $ 19,069 State (527 ) 1,086 625 Foreign 1,061 758 1,210 $ 20,879 $ 12,440 $ 20,904 Current $ 5,326 $ 5,052 $ 5,818 Deferred 15,553 7,388 15,086 $ 20,879 $ 12,440 $ 20,904 Income tax expense is reconciled to hypothetical amounts computed at the U.S. federal statutory rate for each of the three years ending December 31, 2021 in the table below (in millions). 2021 2020 2019 Earnings before income taxes $ 111,686 $ 55,693 $ 102,696 Hypothetical income tax expense computed at the U.S. federal statutory rate $ 23,454 $ 11,696 $ 21,566 Dividends received deduction and tax-exempt interest (457 ) (448 ) (433 ) State income taxes, less U.S. federal income tax benefit (417 ) 858 494 U.S. income tax credits (1,860 ) (1,519 ) (942 ) Goodwill impairments — 1,977 20 Other differences, net 159 (124 ) 199 $ 20,879 $ 12,440 $ 20,904 Effective income tax rate 18.7 % 22.3 % 20.4 % We file income tax returns in the United States and in state, local and foreign jurisdictions. We have settled income tax liabilities with the U.S. federal taxing authority (“IRS”) for tax years through 2011. The U.S. federal income tax returns from 2012 through 2019 remain open, and tax years 2014 through 2019 are under audit. We are also under audit or subject to audit with respect to income taxes in many state and foreign jurisdictions. It is reasonably possible that certain of these income tax examinations will be settled in 2022. We currently do not believe that the outcome of unresolved issues or claims will be material to our Consolidated Financial Statements. At December 31, 2021 and 2020, net unrecognized tax benefits were $1,046 million and $1,113 million, respectively. Included in the balance at December 31, 2021, were $878 million of tax positions that, if recognized, would impact the effective tax rate. The remaining balance in net unrecognized tax benefits principally relates to tax positions where the ultimate recognition is highly certain but there is uncertainty about the timing of recognition. Because of the impact of deferred income tax accounting, these positions, when recognized, would not affect the annual effective income tax rate. Other differences, net included expense of $60 million in 2020 and $377 million in 2019 for uncertain tax positions related to investments by a subsidiary in certain tax equity investment funds that generated income tax benefits from 2015 through 2018. We concluded it was more likely than not those income tax benefits are not valid. We do not expect any material increases to the estimated amount of unrecognized tax benefits during 2022. |
Fair value measurements
Fair value measurements | 12 Months Ended |
Dec. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair value measurements | Notes to Consolidated Financial Statements (Continued) ( 2 0 ) Fair value measurements Our financial assets and liabilities are summarized below as of December 31, 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) December 31, 2021 Investments in fixed maturity securities: U.S. Treasury, U.S. government corporations and agencies $ 3,303 $ 3,303 $ 3,261 $ 42 $ — Foreign governments 10,994 10,994 10,286 708 — Corporate bonds 1,774 1,774 — 1,774 — Other 363 363 — 363 — Investments in equity securities 350,719 350,719 339,225 8 11,486 Investment in Kraft Heinz common stock 13,112 11,683 11,683 — — Loans and finance receivables 20,751 22,174 — 2,178 19,996 Derivative contract assets (1) 329 329 6 230 93 Derivative contract liabilities: Railroad, utilities and energy (1) 277 277 2 51 224 Equity index put options (1) 99 99 — — 99 Notes payable and other borrowings: Insurance and other 39,272 42,339 — 42,292 47 Railroad, utilities and energy 74,990 87,065 — 87,065 — 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) 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) ( 2 0 ) 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 assets and liabilities measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) for each of the three years ending December 31, 2021 follow (in millions). Balance at beginning of year Gains (losses) included in earnings Acquisitions, dispositions and settlements Transfers out of Level 3 Balance at December 31, Investments in equity securities: 2021 $ 8,978 $ 1,902 $ 1,100 $ (500 ) $ 11,480 2020 10,405 (1,426 ) — (1 ) 8,978 2019 1 404 10,000 — 10,405 Equity index put option contract liabilities: 2021 $ (1,065 ) $ 966 $ — $ 99 $ — 2020 (968 ) (159 ) 62 — (1,065 ) 2019 (2,452 ) 1,484 — — (968 ) We acquired investments in Occidental Cumulative Perpetual Preferred Stock (“Occidental Preferred”) and Occidental common stock warrants in August 2019 at an aggregate cost of $10 billion. We currently consider the related fair value measurements to contain Level 3 inputs. See Note 4 for information regarding these investments. Quantitative information as of December 31, 2021 for assets and liabilities measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) follows (in millions). Fair Value Principal Valuation Techniques Unobservable Inputs Weighted Average Investments in equity securities: Preferred stock $ 10,864 Discounted cash flow Expected duration 7 years Discount for transferability restrictions and subordination 372 bps Common stock warrants 616 Warrant pricing model Expected duration 7 years Volatility 37% Notes to Consolidated Financial Statements (Continued) ( 2 0 ) Fair value measurements (Continued) Investments in equity securities in the preceding table include our investments in certain preferred 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 contain provisions that currently 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. |
Common stock
Common stock | 12 Months Ended |
Dec. 31, 2021 | |
Equity [Abstract] | |
Common stock | (2 1 ) Common stock Changes in Berkshire’s issued, treasury and outstanding common stock during the three years ending December 31, 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 Balance December 31, 2018 742,213 (12,897 ) 729,316 1,373,558,983 (6,138,909 ) 1,367,420,074 Conversions of Class A common stock to Class B common stock and exercises of replacement stock options (22,906 ) — (22,906 ) 34,624,869 — 34,624,869 Treasury stock acquired — (4,440 ) (4,440 ) — (17,563,410 ) (17,563,410 ) Balance December 31, 2019 719,307 (17,337 ) 701,970 1,408,183,852 (23,702,319 ) 1,384,481,533 Conversions of Class A common stock to Class B common stock (40,784 ) — (40,784 ) 61,176,000 — 61,176,000 Treasury stock acquired — (17,255 ) (17,255 ) — (95,614,062 ) (95,614,062 ) Balance December 31, 2020 678,523 (34,592 ) 643,931 1,469,359,852 (119,316,381 ) 1,350,043,471 Conversions of Class A common stock to Class B common stock (12,622 ) — (12,622 ) 18,933,000 — 18,933,000 Treasury stock acquired — (14,196 ) (14,196 ) — (78,501,968 ) (78,501,968 ) Balance December 31, 2021 665,901 (48,788 ) 617,113 1,488,292,852 (197,818,349 ) 1,290,474,503 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 (1/1,500) (1/10,000) 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, as amended, permits Berkshire to repurchase 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 Bill 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. |
Revenues from contracts with cu
Revenues from contracts with customers | 12 Months Ended |
Dec. 31, 2021 | |
Revenue From Contract With Customer [Abstract] | |
Revenues from contracts with customers | Notes to Consolidated Financial Statements (Continued) (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 each of the three years ended December 31, 2021 (in millions). Other revenues, which are not considered to be revenues from contracts with customers under GAAP, are primarily insurance premiums earned, interest, dividend and other investment income and leasing revenues. 2021 Manufacturing McLane Service and retailing BNSF Berkshire Hathaway Energy Insurance, Corporate and other Total Manufactured products: Industrial and commercial products $ 22,184 $ — $ 159 $ — $ — $ — $ 22,343 Building products 19,604 — — — — — 19,604 Consumer products 18,540 — — — — — 18,540 Grocery and convenience store distribution — 31,245 — — — — 31,245 Food and beverage distribution — 17,332 — — — — 17,332 Auto sales — — 9,966 — — — 9,966 Other retail and wholesale distribution 2,997 — 15,898 — — — 18,895 Service 1,486 751 4,123 23,120 5,583 — 35,063 Electricity and natural gas — — — — 18,264 — 18,264 Total 64,811 49,328 30,146 23,120 23,847 — 191,252 Other revenues 3,766 122 4,601 57 1,096 75,200 84,842 $ 68,577 $ 49,450 $ 34,747 $ 23,177 $ 24,943 $ 75,200 $ 276,094 2020 Manufactured products: Industrial and commercial products $ 20,772 $ — $ 192 $ — $ — $ — $ 20,964 Building products 15,943 — — — — — 15,943 Consumer products 14,757 — — — — — 14,757 Grocery and convenience store distribution — 30,795 — — — — 30,795 Food and beverage distribution — 15,368 — — — — 15,368 Auto sales — — 8,258 — — — 8,258 Other retail and wholesale distribution 2,452 — 12,470 — — — 14,922 Service 1,456 584 3,332 20,693 4,595 — 30,660 Electricity and natural gas — — — — 15,066 — 15,066 Total 55,380 46,747 24,252 20,693 19,661 — 166,733 Other revenues 3,598 93 3,859 57 1,353 69,817 78,777 $ 58,978 $ 46,840 $ 28,111 $ 20,750 $ 21,014 $ 69,817 $ 245,510 2019 Manufactured products: Industrial and commercial products $ 25,311 $ — $ 184 $ — $ — $ — $ 25,495 Building products 15,620 — — — — — 15,620 Consumer products 14,120 — — — — — 14,120 Grocery and convenience store distribution — 33,057 — — — — 33,057 Food and beverage distribution — 16,767 — — — — 16,767 Auto sales — — 8,481 — — — 8,481 Other retail and wholesale distribution 2,299 — 12,213 — — — 14,512 Service 1,642 539 4,062 23,302 4,096 — 33,641 Electricity and natural gas — — — — 14,819 — 14,819 Total 58,992 50,363 24,940 23,302 18,915 — 176,512 Other revenues 3,632 95 4,459 55 1,181 68,682 78,104 $ 62,624 $ 50,458 $ 29,399 $ 23,357 $ 20,096 $ 68,682 $ 254,616 Notes to Consolidated Financial Statements (Continued) (2 2 ) Revenues from contracts with customers (Continued) 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 December 31, 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 $ 2,607 $ 21,038 $ 23,645 Other sales and service contracts 1,411 2,236 3,647 |
Pension plans
Pension plans | 12 Months Ended |
Dec. 31, 2021 | |
Compensation And Retirement Disclosure [Abstract] | |
Pension plans | (2 3 ) Pension plans Certain of our subsidiaries sponsor defined benefit pension plans. Benefits under the plans are generally based on years of service and compensation or fixed benefit rates. Plan sponsors may make contributions to the plans to meet regulatory requirements and may also make discretionary contributions. The components of our net periodic pension expense for each of the three years ending December 31, 2021 follow (in millions). 2021 2020 2019 Service cost $ 257 $ 235 $ 224 Interest cost 410 510 618 Expected return on plan assets (1,008 ) (955 ) (936 ) Amortization of actuarial losses and other 203 171 26 Net periodic pension expense $ (138 ) $ (39 ) $ (68 ) The projected benefit obligation (“PBO”) is the actuarial present value of benefits earned based upon service and compensation prior to the valuation date and, if applicable, includes assumptions regarding future compensation levels. Benefit obligations under qualified U.S. defined benefit pension plans are funded through assets held in trusts. Pension obligations under certain non-U.S. plans and non-qualified U.S. plans are unfunded and the aggregate PBOs of such plans were $1.4 billion and $1.6 billion as of December 31, 2021 and 2020, respectively. The cost of certain BHE pension plans are expected to be recoverable through the regulated rate making process. The funded status at year end 2021 and 2020 and reconciliations of the changes in PBOs and plan assets related to BHE’s pension plans and all other pension plans for each of the two years ending December 31, 2021 follow (in millions). 2021 2020 BHE Other Total BHE Other Total Benefit obligations PBO beginning of year $ 5,282 $ 15,147 $ 20,429 $ 4,898 $ 13,808 $ 18,706 Service cost 46 211 257 33 202 235 Interest cost 109 301 410 133 377 510 Benefits paid (214 ) (795 ) (1,009 ) (285 ) (709 ) (994 ) Settlements (185 ) (22 ) (207 ) (63 ) (12 ) (75 ) Actuarial (gains) losses and other (258 ) (830 ) (1,088 ) 566 1,481 2,047 PBO end of year $ 4,780 $ 14,012 $ 18,792 $ 5,282 $ 15,147 $ 20,429 Plan assets Plan assets beginning of year $ 5,158 $ 12,780 $ 17,938 $ 4,808 $ 11,688 $ 16,496 Employer contributions 41 124 165 69 127 196 Benefits paid (214 ) (795 ) (1,009 ) (285 ) (709 ) (994 ) Actual return on plan assets 382 1,401 1,783 554 1,820 2,374 Settlements (185 ) (22 ) (207 ) (63 ) (12 ) (75 ) Other (24 ) (26 ) (50 ) 75 (134 ) (59 ) Plan assets end of year $ 5,158 $ 13,462 $ 18,620 $ 5,158 $ 12,780 $ 17,938 Funded status – net (asset) liability $ (378 ) $ 550 $ 172 $ 124 $ 2,367 $ 2,491 Notes to Consolidated Financial Statements (Continued) (2 3 ) Pension plans (Continued) The funded status reflected in assets was $1,954 million and in liabilities was $2,126 million at December 31, 2021. The funded status included in assets was $1,351 million and in liabilities was $3,842 million at December 31, 2020. The accumulated benefit obligation (“ABO”) is the actuarial present value of benefits earned based on service and compensation prior to the valuation date. The ABO was $17.9 billion at December 31, 2021 and $19.4 billion at December 31, 2020. Information for plans with PBOs and ABOs in excess of plan assets as of December 31, 2021 and 2020 follows (in millions). 2021 2020 PBOs $ 9,643 $ 12,775 Plan assets 7,518 9,018 ABOs 9,111 10,875 Plan assets 7,429 7,820 Weighted average assumptions used in determining PBOs and net periodic pension expense follow. 2021 2020 2019 Discount rate applicable to PBOs 2.7 % 2.3 % 3.1 % Expected long-term rate of return on plan assets 6.1 6.2 6.4 Rate of compensation increase 2.6 2.6 2.5 Discount rate applicable to net periodic pension expense 2.4 3.1 4.0 Pension Fair value measurements of plan assets as of December 31, 2021 and 2020 follow (in millions). Fair Value Investment funds and partnerships Total Level 1 Level 2 Level 3 at net asset value December 31, 2021 Cash and cash equivalents $ 992 $ 901 $ 91 $ — $ — Equity securities 11,343 10,358 660 325 — Fixed maturity securities 3,422 2,226 1,168 28 — Investment funds and other 2,863 180 361 57 2,265 $ 18,620 $ 13,665 $ 2,280 $ 410 $ 2,265 December 31, 2020 Cash and cash equivalents $ 383 $ 243 $ 140 $ — $ — Equity securities 11,383 10,123 851 409 — Fixed maturity securities 3,173 2,214 926 33 — Investment funds and other 2,999 198 398 56 2,347 $ 17,938 $ 12,778 $ 2,315 $ 498 $ 2,347 See Note 20 for a discussion of the three levels of fair value measurements. Plan assets are generally invested with the long-term objective of producing earnings to adequately cover expected benefit obligations, while assuming a prudent level of risk. Allocations may change due to changing market conditions and investment opportunities. The expected rates of return on plan assets reflect subjective assessments of expected long-term investment returns. Generally, past investment returns are not given significant consideration when establishing assumptions for expected long-term rates of return on plan assets. Actual experience will differ from the assumed rates of return. Notes to Consolidated Financial Statements (Continued) (2 3 ) Pension plans (Continued) A reconciliation of the pre-tax accumulated other comprehensive income (loss) related to defined benefit pension plans for each of the two years ending December 31, 2021 follows (in millions). 2021 2020 Balance beginning of year $ (2,251 ) $ (1,896 ) Amount included in net periodic pension expense 170 141 Actuarial gains (losses) and other 1,596 (496 ) Balance end of year $ (485 ) $ (2,251 ) Several of our subsidiaries also sponsor defined contribution retirement plans, such as 401(k) or profit-sharing plans. Employee contributions are subject to regulatory limitations and the specific plan provisions. Several plans provide for employer matching contributions up to levels specified in the plans and provide for additional discretionary contributions as determined by management. Our defined contribution plan expense was approximately $1.0 billion in 2021, $1.4 billion in 2020 and $1.2 billion in 2019. |
Accumulated other comprehensive
Accumulated other comprehensive income | 12 Months Ended |
Dec. 31, 2021 | |
Equity [Abstract] | |
Accumulated other comprehensive income | (2 4 ) Accumulated other comprehensive income A summary of the net changes in after-tax accumulated other comprehensive income attributable to Berkshire Hathaway shareholders for each of the three years ending December 31, 2021 follows (in millions). Unrealized appreciation of fixed maturity securities, net Foreign currency translation Defined benefit pension plans Other Accumulated other comprehensive income Balance December 31, 2018 $ 370 $ (4,603 ) $ (816 ) $ 34 $ (5,015 ) Other comprehensive income 160 257 (644 ) (48 ) (275 ) Reclassifications into net earnings (49 ) — 91 5 47 Balance December 31, 2019 481 (4,346 ) (1,369 ) (9 ) (5,243 ) Other comprehensive income 78 1,264 (385 ) (52 ) 905 Reclassifications into net earnings (23 ) — 109 9 95 Balance December 31, 2020 536 (3,082 ) (1,645 ) (52 ) (4,243 ) Other comprehensive income (123 ) (1,021 ) 1,163 80 99 Reclassifications into net earnings (44 ) 11 135 15 117 Balance December 31, 2021 $ 369 $ (4,092 ) $ (347 ) $ 43 $ (4,027 ) |
Business segment data
Business segment data | 12 Months Ended |
Dec. 31, 2021 | |
Segment Reporting [Abstract] | |
Business segment data | Notes to Consolidated Financial Statements (Continued) (2 5 ) 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, marketing, selling and distribution characteristics, even though those business units are operated under separate local management. The tabular information that follows shows data of reportable segments reconciled to amounts reflected in our Consolidated Financial Statements. Intersegment transactions are not eliminated from segment results when management considers those transactions in assessing the results of the respective segments. Furthermore, our management does not consider investment and derivative gains/losses, impairments or amortization of certain business acquisition accounting adjustments related to Berkshire’s business acquisitions or certain other corporate income and expense items in assessing the financial performance of operating units. Collectively, these items are included in reconciliations of segment amounts to consolidated amounts. Berkshire’s operating segments are as follows. Business Identity Business Activity Insurance: GEICO Underwriting private passenger automobile insurance mainly by direct response methods Berkshire Hathaway Primary Group Underwriting multiple lines of property and casualty insurance policies for primarily commercial accounts Berkshire Hathaway Reinsurance Group Underwriting excess-of-loss, quota-share and facultative reinsurance worldwide Railroad (“BNSF”) Operation of one of the largest railroad systems in North America through Burlington Northern Santa Fe LLC Utilities and energy (“BHE”) Regulated electric and gas utility, including power generation and distribution activities and real estate brokerage activities through Berkshire Hathaway Energy Company and affiliates Manufacturing Manufacturers of numerous products including industrial, consumer and building products, including home building and related financial services McLane Company (“McLane”) Wholesale distribution of groceries and non-food items Service and retailing Providers of numerous services including shared aircraft ownership programs, aviation pilot training, electronic components distribution, various retailing businesses, including automobile dealerships and trailer and furniture leasing Notes to Consolidated Financial Statements (Continued) (2 5 ) Business segment data (Continued) A disaggregation of our consolidated data for each of the three most recent years is presented as follows (in millions). Revenues Earnings before income taxes 2021 2020 2019 2021 2020 2019 Operating Businesses Insurance: Underwriting: GEICO $ 37,706 $ 35,093 $ 35,572 $ 1,259 $ 3,428 $ 1,506 Berkshire Hathaway Primary Group 11,575 9,615 9,165 607 110 383 Berkshire Hathaway Reinsurance Group 20,197 18,693 16,341 (930 ) (2,700 ) (1,472 ) Insurance underwriting 69,478 63,401 61,078 936 838 417 Investment income 5,662 5,960 6,615 5,649 5,949 6,600 Total insurance 75,140 69,361 67,693 6,585 6,787 7,017 BNSF 23,282 20,869 23,515 7,861 6,792 7,250 BHE 24,987 21,031 20,114 3,184 2,479 2,618 Manufacturing 68,730 59,079 62,730 9,841 8,010 9,522 McLane 49,450 46,840 50,458 230 251 288 Service and retailing 34,832 28,178 29,487 4,481 2,628 2,555 276,421 245,358 253,997 32,182 26,947 29,250 Reconciliation to consolidated amount Investment and derivative gains (losses) — — — 78,542 40,746 72,607 Interest expense, not allocated to segments — — — (455 ) (483 ) (416 ) Equity method investments — — — 995 726 1,176 Goodwill and intangible asset impairments — — — — (10,671 ) (96 ) Corporate, eliminations and other (327 ) 152 619 422 (1,572 ) 175 $ 276,094 $ 245,510 $ 254,616 $ 111,686 $ 55,693 $ 102,696 Interest expense Income tax expense 2021 2020 2019 2021 2020 2019 Operating Businesses Insurance $ — $ — $ — $ 1,050 $ 1,089 $ 1,166 BNSF 1,032 1,037 1,070 1,871 1,631 1,769 BHE 2,054 1,941 1,835 (1,177 ) (1,010 ) (526 ) Manufacturing 704 737 752 2,193 1,795 2,253 McLane — — — 61 71 71 Service and retailing 38 61 86 1,086 669 603 3,828 3,776 3,743 5,084 4,245 5,336 Reconciliation to consolidated amount Investment and derivative gains — — — 16,025 8,855 15,159 Interest expense, not allocated to segments 455 483 416 (96 ) (102 ) (88 ) Equity method investments — — — 106 57 148 Corporate, eliminations and other (111 ) (176 ) (198 ) (240 ) (615 ) 349 $ 4,172 $ 4,083 $ 3,961 $ 20,879 $ 12,440 $ 20,904 Notes to Consolidated Financial Statements (Continued) (2 5 ) Business segment data (Continued) Capital expenditures Depreciation of tangible assets 2021 2020 2019 2021 2020 2019 Operating Businesses Insurance $ 62 $ 50 $ 108 $ 72 $ 74 $ 82 BNSF 2,910 3,063 3,608 2,406 2,423 2,350 BHE 6,611 6,765 7,364 3,584 3,376 2,947 Manufacturing 2,100 2,133 2,981 2,037 2,026 1,951 McLane 106 98 158 189 204 225 Service and retailing 1,487 903 1,760 1,177 1,216 1,192 $ 13,276 $ 13,012 $ 15,979 $ 9,465 $ 9,319 $ 8,747 Goodwill at year-end Identifiable assets at year-end 2021 2020 2019 2021 2020 2019 Operating Businesses Insurance $ 15,181 $ 15,224 $ 15,289 $ 482,813 $ 399,169 $ 364,550 BNSF 14,852 14,851 14,851 76,586 73,809 73,699 BHE 11,906 11,763 9,979 112,117 109,286 88,651 Manufacturing 25,463 25,512 34,800 107,231 104,318 104,437 McLane 232 232 734 6,841 6,771 6,872 Service and retailing 6,241 6,152 6,229 28,221 26,173 26,494 $ 73,875 $ 73,734 $ 81,882 813,809 719,526 664,703 Reconciliation to consolidated amount Corporate and other 71,100 80,469 71,144 Goodwill 73,875 73,734 81,882 $ 958,784 $ 873,729 $ 817,729 Property/casualty and life/health insurance premiums written and earned are summarized below (in millions). Property/Casualty Life/Health 2021 2020 2019 2021 2020 2019 Premiums Written: Direct $ 53,829 $ 47,838 $ 47,578 $ 649 $ 510 $ 839 Assumed 12,461 11,533 10,214 5,685 5,960 5,046 Ceded (1,015 ) (898 ) (821 ) (40 ) (42 ) (45 ) $ 65,275 $ 58,473 $ 56,971 $ 6,294 $ 6,428 $ 5,840 Premiums Earned: Direct $ 52,139 $ 46,418 $ 46,540 $ 649 $ 510 $ 839 Assumed 12,072 11,449 9,643 5,713 5,973 4,952 Ceded (1,054 ) (907 ) (851 ) (41 ) (42 ) (45 ) $ 63,157 $ 56,960 $ 55,332 $ 6,321 $ 6,441 $ 5,746 Notes to Consolidated Financial Statements (Continued) (2 5 ) Business segment data (Continued) Insurance premiums written by geographic region (based upon the domicile of the insured or reinsured) are summarized below (in millions). Property/Casualty Life/Health 2021 2020 2019 2021 2020 2019 United States $ 55,451 $ 50,250 $ 50,529 $ 2,161 $ 2,820 $ 2,553 Western Europe 4,613 3,751 2,535 1,298 1,120 908 Asia Pacific 3,822 3,410 3,114 2,030 1,652 1,582 All other 1,389 1,062 793 805 836 797 $ 65,275 $ 58,473 $ 56,971 $ 6,294 $ 6,428 $ 5,840 Consolidated sales, service and leasing revenues were $151.0 billion in 2021, $132.3 billion in 2020 and $140.8 billion in 2019. Sales, service and leasing revenues attributable to the United States were 85% in 2021, 86% in 2020 and 85% in 2019 of such amounts. The remainder of sales, service and leasing revenues were primarily in Europe, Canada and the Asia Pacific region. Railroad, utilities and energy revenues were $48.1 billion in 2021, $41.8 billion in 2020 and $43.5 billion in 2019. In each of the three years, approximately 96% of such revenues were attributable to the United States. At December 31, 2021, approximately 89% of our consolidated net property, plant and equipment and equipment held for lease was located in the United States with the remainder primarily in Canada and the United Kingdom. |
Contingencies and Commitments
Contingencies and Commitments | 12 Months Ended |
Dec. 31, 2021 | |
Commitments And Contingencies Disclosure [Abstract] | |
Contingencies and Commitments | (2 6 ) 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. Our subsidiaries regularly make commitments in the ordinary course of business for the future purchase of goods and services used in their businesses, which are not yet reflected in our Consolidated Financial Statements. The most significant of our long-term commitments relate to our railroad, utilities and energy businesses and our shared aircraft ownership and leasing business. As of December 31, 2021, estimated future payments under those arrangements were as follows: $8 billion in 2022, $4 billion in 2023, $3 billion in 2024, $2 billion in 2025, $2 billion in 2026 and $15 billion after 2026. As indicated in Note 5, we have an agreement to acquire an additional 41.4% ownership interest in Pilot in 2023. At that time, Pilot will become a consolidated subsidiary. Additionally, we may be obligated to acquire certain noncontrolling interests in less-than-wholly-owned subsidiaries in the future, pursuant to the terms of agreements with the noncontrolling shareholders. The timing and the amount of any future payments that might be required to such noncontrolling shareholders are contingent on future actions of the noncontrolling owners and the value of the interest being acquired. If we had acquired the additional interest in Pilot and all outstanding noncontrolling interests as of December 31, 2021, we estimate the aggregate cost of these acquisitions would approximate $11 billion. |
Condensed Financial Information
Condensed Financial Information | 12 Months Ended |
Dec. 31, 2021 | |
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | |
Condensed Financial Information | BERKSHIRE HATHAWAY INC. (Parent Company) Condensed Financial Information (Dollars in millions) Schedule I Balance Sheets December 31, 2021 2020 Assets: Cash and cash equivalents $ 18,797 $ 12,329 Short-term investments in U.S. Treasury Bills 9,681 29,773 Investments in and advances to/from consolidated subsidiaries 486,862 411,826 Investment in The Kraft Heinz Company 13,112 13,336 Other assets 140 108 $ 528,592 $ 467,372 Liabilities and Shareholders’ Equity: Accounts payable, accrued interest and other liabilities $ 237 $ 369 Income taxes, principally deferred 747 1,174 Notes payable and other borrowings 21,409 22,665 22,393 24,208 Berkshire Hathaway shareholders’ equity 506,199 443,164 $ 528,592 $ 467,372 Statements of Earnings and Comprehensive Income Year ended December 31, 2021 2020 2019 Income items: From consolidated subsidiaries: Dividends and distributions $ 13,462 $ 26,110 $ 15,603 Undistributed earnings 74,819 17,402 65,237 88,281 43,512 80,840 Investment gains (losses) 35 (24 ) (125 ) Equity in net earnings of The Kraft Heinz Company 269 95 493 Other income 73 328 780 88,658 43,911 81,988 Cost and expense items: General and administrative 136 194 122 Interest expense 444 489 591 Foreign exchange (gains) losses on non-U.S. Dollar denominated debt (1,281 ) 970 (193 ) Income tax expense (benefit) (436 ) (263 ) 51 (1,137 ) 1,390 571 Net earnings attributable to Berkshire Hathaway shareholders 89,795 42,521 81,417 Other comprehensive income attributable to Berkshire Hathaway shareholders 216 1,000 (228 ) Comprehensive income attributable to Berkshire Hathaway shareholders $ 90,011 $ 43,521 $ 81,189 See Note to Condensed Financial Information BERKSHIRE HATHAWAY INC. (Parent Company) Condensed Financial Information (Dollars in millions) Schedule I (continued) Statements of Cash Flows Year ended December 31, 2021 2020 2019 Cash flows from operating activities: Net earnings attributable to Berkshire Hathaway shareholders $ 89,795 $ 42,521 $ 81,417 Adjustments to reconcile net earnings to cash flows from operating activities: Investment gains/losses (35 ) 24 125 Undistributed earnings of consolidated subsidiaries (74,819 ) (17,402 ) (65,237 ) Non-cash dividends from subsidiaries (2,126 ) (8,296 ) — Income taxes payable (389 ) (72 ) (56 ) Other (1,038 ) 1,100 (693 ) Net cash flows from operating activities 11,388 17,875 15,556 Cash flows from investing activities: Investments in and advances to/from consolidated subsidiaries, net (174 ) (1,947 ) 60 Purchases of U.S. Treasury Bills (34,988 ) (54,715 ) (40,107 ) Sales and maturities of U.S. Treasury Bills 57,296 59,035 36,943 Other — 11 737 Net cash flows from investing activities 22,134 2,384 (2,367 ) Cash flows from financing activities: Proceeds from borrowings 2,174 2,923 3,967 Repayments of borrowings (2,167 ) (1,151 ) (758 ) Acquisition of treasury stock (27,061 ) (24,706 ) (4,850 ) Other — — 19 Net cash flows from financing activities (27,054 ) (22,934 ) (1,622 ) Increase (decrease) in cash and cash equivalents 6,468 (2,675 ) 11,567 Cash and cash equivalents at beginning of year 12,329 15,004 3,437 Cash and cash equivalents at end of year $ 18,797 $ 12,329 $ 15,004 Other cash flow information: Income taxes paid $ 3,403 $ 3,391 $ 3,531 Interest paid 377 359 364 Note to Condensed Financial Information Berkshire currently owns 26.6% of the outstanding shares of The Kraft Heinz Company (“Kraft Heinz”) common stock, which is accounted for pursuant to the equity method. See Note 5 to the accompanying Consolidated Financial Statements for additional information regarding this investment. In 2021, the Parent Company repaid €550 million of maturing senior notes and $1.5 billion of maturing senior notes and issued €600 million of 0.5% senior notes due in 2041 and ¥160 billion (approximately $1.5 billion) of senior notes with maturity dates ranging from 2026 to 2041 with a weighted average interest rate of 0.5%. As of December 31, 2021, the Parent Company’s non-U.S. Dollar denominated borrowings included €6.9 billion and ¥785.5 billion par value senior notes. The gains and losses from the periodic remeasurement of these non-U.S. Dollar denominated notes due to changes in foreign currency exchange rates are included in earnings. In January 2022, Berkshire repaid $600 million of maturing debt and issued ¥128.5 billion (approximately $1.1 billion) of senior notes with maturity dates ranging from 2027 to 2052 and a weighted average interest rate of 0.5%. Parent Company debt maturities over the next five years are as follows: 2022—$600 million; 2023—$4,467 million; 2024—$2,080 million; 2025—$1,681 million and 2026—$3,378 million. The Parent Company guarantees certain debt of subsidiaries, which aggregated approximately $17.0 billion at December 31, 2021, which was primarily debt issued by Berkshire Hathaway Finance Corporation. Such guarantees are an absolute, unconditional and irrevocable guarantee for the full and prompt payment when due of all present and future payment obligations. The Parent Company has also provided guarantees in connection with certain retroactive reinsurance contracts issued by subsidiaries. The amounts of subsidiary payments under these contracts, if any, is contingent upon the outcome of future events. |
Significant accounting polici_2
Significant accounting policies and practices (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Nature of operations and basis of consolidation | (a) Nature of operations and basis of consolidation Berkshire Hathaway Inc. (“Berkshire”) is a holding company owning subsidiaries engaged in a number of diverse business activities, including insurance and reinsurance, freight rail transportation, utilities and energy, manufacturing, service and retailing. In these notes the terms “us,” “we,” or “our” refer to Berkshire and its consolidated subsidiaries. Further information regarding our reportable business segments is contained in Note 25. Information concerning business acquisitions completed over the past three years appears in Note 2. We believe that reporting the Railroad, Utilities and Energy subsidiaries separately is appropriate given the relative significance of their long-lived assets, capital expenditures and debt, which is not guaranteed by Berkshire. The accompanying Consolidated Financial Statements include the accounts of Berkshire consolidated with the accounts of all subsidiaries and affiliates in which we hold a controlling financial interest as of the financial statement date. Normally a controlling financial interest reflects ownership of a majority of the voting interests. We consolidate variable interest entities (“VIE”) when we possess both the power to direct the activities of the VIE that most significantly affect its economic performance, and we (a) are obligated to absorb the losses that could be significant to the VIE or (b) hold the right to receive benefits from the VIE that could be significant to the VIE. Intercompany accounts and transactions have been eliminated. |
Use of estimates in preparation of financial statements | (b) Use of estimates in preparation of financial statements We prepare our Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States (“GAAP”) which requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the period. Our estimates of unpaid losses and loss adjustment expenses are subject to considerable estimation error due to the inherent uncertainty in projecting ultimate claim costs. In addition, estimates and assumptions associated with the amortization of deferred charges on retroactive reinsurance contracts, determinations of fair values of certain financial instruments and evaluations of goodwill and indefinite-lived intangible assets for impairment require considerable judgment. Actual results may differ from the estimates used in preparing our Consolidated Financial Statements. 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, although the effects varied significantly. The extent of the effects over longer terms on the demand for certain of our products and services cannot be reasonably estimated at this time. 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. |
Cash and cash equivalents and short-term investments in U.S. Treasury Bills | (c) Cash and cash equivalents and short-term investments in U.S. Treasury Bills Cash equivalents consist of demand deposit and money market accounts and investments with maturities of three months or less when purchased. Short-term investments in U.S. Treasury Bills consist of U.S. Treasury Bills with maturities exceeding three months at the time of purchase and are stated at amortized cost, which approximates fair value. |
Investments under the equity method | (f) Investments under the equity method We utilize the equity method to account for investments when we possess the ability to exercise significant influence, but not control, over the operating and financial policies of the investee. The ability to exercise significant influence is presumed when the investor possesses more than 20% of the voting interests of the investee. This presumption may be overcome based on specific facts and circumstances that demonstrate that the ability to exercise significant influence is restricted. We apply the equity method to investments in common stock and other investments when such investments possess substantially identical subordinated interests to common stock. In applying the equity method, we record the investment at cost and subsequently increase or decrease the carrying amount of the investment by our proportionate share of the net earnings or losses and other comprehensive income of the investee. We record dividends or other equity distributions as reductions in the carrying value of the investment. If net losses reduce our carrying amount to zero, additional net losses may be recorded if other investments in the investee are at-risk, even if we have not committed to provide financial support to the investee. Such additional equity method losses, if any, are based upon the change in our claim on the investee’s book value. |
Loans and finance receivables | (g) Loans and finance receivables Loans and finance receivables are primarily manufactured home loans, and to a lesser extent, commercial loans and site-built home loans. We carry substantially all loans and finance receivables at amortized cost, net of allowances for expected credit losses, based on our ability and intent to hold such loans to maturity. Acquisition costs and loan origination and commitment costs paid and fees received, as well as acquisition premiums or discounts, are amortized as yield adjustments over the lives of the loans. Prior to 2020, credit losses were measured when non-collection was considered probable based on the prevailing facts and circumstances. Beginning in 2020, measurements of expected credit losses include provisions for non-collection, whether the risk is probable or remote. Expected credit losses on manufactured home loans are based on the net present value of future principal payments less estimated expenses related to the charge-off and foreclosure of expected uncollectible loans and include provisions for loans that are not in foreclosure. Our principal credit quality indicator is whether the loans are performing. Expected credit loss estimates consider historical default rates, collateral recovery rates, historical runoff rates, interest rates, reductions of future cash flows for modified loans and the historical time elapsed from last payment until foreclosure, among other factors. In addition, our estimates consider current conditions and reasonable and supportable forecasts. Loans are considered delinquent when payments are more than 30 days past due. We place loans over 90 days past due on nonaccrual status and accrued but uncollected interest is reversed. Subsequent collections on the loans are first applied to the principal and interest owed for the most delinquent amount. We resume interest income accrual once a loan is less than 90 days delinquent. Loans are considered non-performing when the foreclosure process has started. Once a loan is in the process of foreclosure, interest income is not recognized until the foreclosure is cured or the loan is modified. Once a modification is complete, interest income is recognized based on the terms of the new loan. Foreclosed loans are charged off when the collateral is sold. Loans not in foreclosure are evaluated for charge-off based on individual circumstances concerning the future collectability of the loan and the condition of the collateral securing the loan. |
Other receivables | Notes to Consolidated Financial Statements (Continued) (1) Significant accounting policies and practices (Continued) (h) Other receivables Other receivables include balances due from customers, insurance premiums receivable and reinsurance losses recoverable, as well as other receivables. Trade receivables, insurance premium receivables and other receivables are primarily short-term in nature with stated collection terms of less than one year from the date of origination. Reinsurance recoverables are comprised of amounts ceded under reinsurance contracts or pursuant to mandatory government-sponsored insurance programs. Reinsurance recoverables relate to unpaid losses and loss adjustment expenses arising from property and casualty contracts and benefits under life and health contracts. Receivables are stated net of estimated allowances for uncollectible balances. Prior to 2020, we recorded provisions for uncollectible balances when it was probable counterparties or customers would be unable to pay all amounts due based on the contractual terms and historical loss history. Beginning in 2020, we adopted a new accounting pronouncement that affects the measurement of allowances for credit losses. In measuring credit loss allowances, we primarily utilize credit loss history, with adjustments to reflect current or expected future economic conditions when reasonable and supportable forecasts of losses deviate from historical experience. In evaluating expected credit losses of reinsurance recoverables on unpaid losses, we review the credit quality of the counterparty and consider right-of-offset provisions within reinsurance contracts and other forms of credit enhancement including collateral, guarantees and other available information. We charge-off receivables against the allowances after all reasonable collection efforts are exhausted. |
Derivatives | ( i ) Derivatives We carry derivative contracts in accounts payable, accruals and other liabilities in our Consolidated Balance Sheets at fair value, net of reductions permitted under master netting agreements with counterparties. We record the changes in fair value of derivative contracts that do not qualify as hedging instruments for financial reporting purposes in earnings or, if such contracts involve our regulated utilities subsidiaries, as regulatory assets or liabilities when inclusion in regulated rates is probable. |
Fair value measurements | (j) Fair value measurements As defined under GAAP, fair value is the price that would be received to sell an asset or paid to transfer a liability between market participants in the principal market or in the most advantageous market when no principal market exists. Adjustments to transaction prices or quoted market prices may be required in illiquid or disorderly markets in estimating fair value. Alternative valuation techniques may be appropriate under the circumstances to determine the value that would be received to sell an asset or paid to transfer a liability in an orderly transaction. Market participants are assumed to be independent, knowledgeable, and able and willing to transact an exchange and not acting under duress. Our nonperformance or credit risk is considered in determining the fair value of liabilities. Considerable judgment may be required in interpreting market data used to develop the estimates of fair value. Accordingly, estimates of fair value presented herein are not necessarily indicative of the amounts that could be realized in a current or future market exchange. |
Inventories | (k) Inventories Inventories consist of manufactured goods, goods or products acquired for resale and homes constructed for sale. Manufactured inventory costs include materials, direct and indirect labor and factory overhead. At December 31, 2021, we used the last-in-first-out (“LIFO”) method to value approximately 31% of consolidated inventories with the remainder primarily determined under first-in-first-out and average cost methods. Non-LIFO inventories are stated at the lower of cost or net realizable value. The excess of current or replacement costs over costs determined under LIFO was approximately $1.9 billion as of December 31, 2021 and $1.1 billion as of December 31, 2020. |
Property, plant and equipment | (l) Property, plant and equipment We record additions to property, plant and equipment used in operations at cost, which includes asset additions, improvements and betterments. With respect to constructed assets, all materials, direct labor and contract services as well as certain indirect costs are capitalized. Indirect costs include interest over the construction period. With respect to constructed assets of our utility and energy subsidiaries that are subject to authoritative guidance for regulated operations, capitalized costs also include an allowance for funds used during construction, which represents the cost of equity funds used to finance the construction of the regulated facilities. Normal repairs and maintenance and other costs that do not improve the property, extend its useful life or otherwise do not meet capitalization criteria are charged to expense as incurred. Notes to Consolidated Financial Statements (Continued) (1) Significant accounting policies and practices (Continued) (l) Property, plant and equipment (Continued) Depreciation of assets of our regulated utilities and railroad is generally determined using group depreciation methods where rates are based on periodic depreciation studies approved by the applicable regulator. Under group depreciation, a composite rate is applied to the gross investment in a particular class of property, despite differences in the service life or salvage value of individual property units within the same class. When such assets are retired or sold, no gain or loss is recognized. Gains or losses on disposals of all other assets are recorded through earnings. We depreciate property, plant and equipment used by our other businesses to the estimated salvage value primarily using the straight-line method over estimated useful lives. Ranges of estimated useful lives of depreciable assets used in our other businesses are as follows: buildings and improvements – 5 to 50 years, machinery and equipment – 3 to 25 years and furniture, fixtures and other – 3 to 15 years. Ranges of estimated useful lives of depreciable assets unique to our railroad business are as follows: track structure and other roadway – 10 to 100 years and locomotives, freight cars and other equipment – 6 to 43 years. Ranges of estimated useful lives of assets unique to our regulated utilities and energy businesses are as follows: utility generation, transmission and distribution systems – 5 to 80 years, interstate natural gas pipeline assets – 3 to 80 years and independent power plants and other assets – 2 to 50 years. We evaluate property, plant and equipment for impairment when events or changes in circumstances indicate that the carrying value of such assets may not be recoverable or when the assets are held for sale. Upon the occurrence of a triggering event, we assess whether the estimated undiscounted cash flows expected from the use of the asset and the residual value from the ultimate disposal of the asset exceeds the carrying value. If the carrying value exceeds the estimated recoverable amounts, we reduce the carrying value to fair value and record an impairment loss in earnings, except with respect to impairment of assets of our regulated utility and energy subsidiaries where the impacts of regulation are considered in evaluating the carrying value. |
Leases | (m) Leases We are party to contracts where we lease property to others (“lessor” contracts) and where we lease property from others (“lessee” contracts). We record acquisitions of and additions to equipment that we lease to others at cost. We depreciate equipment held for lease to estimated salvage value primarily using the straight-line method over estimated useful lives ranging from 3 to 35 years. We use declining balance depreciation methods for assets when the revenue-earning power of the asset is greater during the earlier years of its life. We also evaluate equipment held for lease for impairment consistent with policies for property, plant and equipment. When we lease assets from others, we record right-of-use assets and lease liabilities. Right-of-use assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. In this regard, lease payments include fixed payments and variable payments that depend on an index or rate. The lease term is generally considered the non-cancellable lease period. Certain lease contracts contain renewal options or other terms that provide for variable payments based on performance or usage. Options are not included in determining right-of-use assets or lease liabilities unless it is reasonably certain that options will be exercised. Generally, incremental borrowing rates are used in measuring lease liabilities. Right-of-use assets are subject to review for impairment. As permitted under GAAP, we do not separate lease components from non-lease components by class of asset and do not record assets or liabilities for leases with terms of one year or less. |
Goodwill and other intangible assets | (n) Goodwill and other intangible assets Goodwill represents the excess of the acquisition price of a business over the fair value of identified net assets of that business. We evaluate goodwill for impairment at least annually. When evaluating goodwill for impairment, we estimate the fair value of the reporting unit. Several methods may be used to estimate a reporting unit’s fair value, including market quotations, asset and liability fair values and other valuation techniques, including, but not limited to, discounted projected future net earnings or net cash flows and multiples of earnings. When the carrying amount of a reporting unit, including goodwill, exceeds the estimated fair value, the excess is charged to earnings as an impairment loss. |
Revenue recognition | Notes to Consolidated Financial Statements (Continued) (1) Significant accounting policies and practices (Continued) (o) Revenue recognition We earn insurance premiums on prospective property/casualty insurance and reinsurance contracts over the loss exposure or coverage period in proportion to the level of protection provided. Premiums are generally earned in proportion to the coverage provided, which is generally ratable over the term of the contract with unearned premiums computed on a monthly or daily pro-rata basis. Premiums on retroactive property/casualty reinsurance contracts are generally received in full and are earned at the inception of the contracts, as all underlying loss events covered by the policies occurred prior to contract inception. Premiums for life reinsurance and periodic payment annuity contracts are earned when due. Premiums for periodic payment annuity contracts are usually received in full at the inception of the contracts. Premiums earned are stated net of amounts ceded to reinsurers. Premiums earned on contracts with experience-rating provisions reflect estimated loss experience under such contracts. Sales and service revenues are recognized when goods or services are 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. We manufacture and/or distribute a wide variety of industrial, building and consumer products. Our sales contracts provide customers with these products through wholesale and retail channels in exchange for consideration specified under the contracts. Contracts generally represent customer orders for individual products at stated prices. Sales contracts may contain either single or multiple performance obligations. In instances where contracts contain multiple performance obligations, we allocate the revenue to each obligation based on the relative stand-alone selling prices of each product or service. Sales revenue reflects reductions for returns, allowances, volume discounts and other incentives, some of which may be contingent on future events. In certain customer contracts, sales revenue includes certain state and local excise taxes billed to customers on specified products when those taxes are levied directly upon us by the taxing authorities. Sales revenue excludes sales taxes and value-added taxes collected on behalf of taxing authorities. Sales revenue includes consideration for shipping and other fulfillment activities performed prior to the customer obtaining control of the goods. We also elect to treat consideration for such services performed after control has passed to the customer as sales revenue. Our product sales revenues are generally recognized at a point in time when control of the product transfers to the customer, which coincides with customer pickup or product delivery or acceptance, depending on terms of the arrangement. We recognize sales revenues and related costs with respect to certain contracts over time, primarily from certain castings, forgings and aerostructures contracts. Control of the product units under these contracts transfers continuously to the customer as the product is manufactured. These products generally have no alternative use and the contract requires the customer to provide reasonable compensation if terminated for reasons other than breach of contract. The primary performance obligation under our freight rail transportation service contracts is to move freight from a point of origin to a point of destination. The performance obligations are represented by bills of lading which create a series of distinct services that have a similar pattern of transfer to the customer. The revenues for each performance obligation are based on various factors including the product being shipped, the origin and destination pair and contract incentives, which are outlined in various private rate agreements, common carrier public tariffs, interline foreign road agreements and pricing quotes. The transaction price is generally a per car/unit amount to transport railcars from a specified origin to a specified destination. Freight revenues are recognized over time as the service is performed because the customer simultaneously receives and consumes the benefits of the service. Revenues recognized represent the proportion of the service completed as of the balance sheet date. Invoices for freight transportation services are generally issued to customers and paid within 30 days or less. Customer incentives, which are primarily provided for shipping a specified cumulative volume or shipping to/from specific locations, are recorded as a reduction to revenue on a pro-rata basis based on actual or projected future customer shipments. Notes to Consolidated Financial Statements (Continued) (1) Significant accounting policies and practices (Continued) (o) Revenue recognition (Continued) Our energy revenue derives primarily from tariff-based sales arrangements approved by various regulatory commissions. These tariff-based revenues are mainly comprised of energy, transmission, distribution and natural gas and have performance obligations to deliver energy products and services to customers which are satisfied over time as energy is delivered or services are provided. Our nonregulated energy revenue primarily relates to our renewable energy business. Energy revenues are equivalent to the amounts we have the right to invoice and correspond directly with the value to the customer of the performance to date and include billed and unbilled amounts. Payments from customers are generally due within 30 days of billing. Rates charged for energy products and services are established by regulators or contractual arrangements that establish the transaction price, as well as the allocation of price among the separate performance obligations. When preliminary regulated rates are permitted to be billed prior to final approval by the applicable regulator, certain revenue collected may be subject to refund and a liability for estimated refunds is accrued. Other service revenues derive from contracts with customers in which performance obligations are satisfied over time, where customers receive and consume benefits as we perform the services or at a point in time when the services are provided. Other service revenues primarily derive from real estate brokerage, automotive repair, aircraft management, aviation training, franchising and news distribution. Leasing revenue is generally recognized ratably over the term of the lease or based on usage, if applicable under the terms of the contract. A substantial portion of our lessor contracts are classified as operating leases. |
Losses and loss adjustment expenses | (p) Losses and loss adjustment expenses We record liabilities for unpaid losses and loss adjustment expenses under property/casualty insurance and reinsurance contracts for loss events that have occurred on or before the balance sheet date. Such liabilities represent the estimated ultimate payment amounts without discounting for time value. We base liability estimates on (1) loss reports from policyholders and cedents, (2) individual case estimates and (3) estimates of incurred but not reported losses. Losses and loss adjustment expenses in the Consolidated Statements of Earnings include paid claims, claim settlement costs and changes in estimated claim liabilities. Losses and loss adjustment expenses charged to earnings are net of amounts recovered and estimates of amounts recoverable under ceded reinsurance contracts. Reinsurance contracts do not relieve the ceding company of its obligations to indemnify policyholders with respect to the underlying insurance and reinsurance contracts. |
Retroactive reinsurance contracts | (q) Retroactive reinsurance contracts We record liabilities for unpaid losses and loss adjustment expenses under short duration retroactive reinsurance contracts consistent with property/casualty insurance and reinsurance contracts described in Note 1(p). With respect to retroactive reinsurance contracts, we also record deferred charge assets at the inception of the contracts, representing the excess, if any, of the estimated ultimate claim liabilities over the premiums earned. We subsequently amortize the deferred charge assets over the expected claim settlement periods using the interest method. Changes to the estimated timing or amount of future loss payments also produce changes in deferred charge balances. We apply changes in such estimates retrospectively and the resulting changes in deferred charge balances, together with periodic amortization, are included in insurance losses and loss adjustment expenses in the Consolidated Statements of Earnings. |
Insurance policy acquisition costs | (r) Insurance policy acquisition costs We capitalize the incremental costs that directly relate to the successful sale of insurance contracts, subject to ultimate recoverability. For short duration contracts, we subsequently amortize such costs to underwriting expenses as the related premiums are earned. Acquisition costs related to long duration life insurance contracts are amortized over the expected premium-paying period in proportion to the anticipated premiums over the life of the policy. Such anticipated premiums are estimated using the same assumptions used for computing liabilities for future policy benefits. Direct incremental acquisition costs include commissions, premium taxes and certain other costs associated with successful efforts. We expense all other underwriting costs as incurred. The recoverability of capitalized insurance policy acquisition costs generally reflects anticipation of investment income. The unamortized balances are included in other assets and were approximately $3.4 billion and $3.25 billion at December 31, 2021 and 2020, respectively. |
Life and annuity insurance benefits | Notes to Consolidated Financial Statements (Continued) (1) Significant accounting policies and practices (Continued) (s) Life and annuity insurance benefits We compute liabilities for benefits under life insurance contracts based upon estimated future investment yields, expected mortality, morbidity and lapse or withdrawal rates, as well as estimates of premiums we expect to receive and expenses we expect to incur in the future. These assumptions, as applicable, also include a margin for adverse deviation and may vary with the characteristics of the contract’s date of issuance, policy duration and country of risk. The interest rate assumptions used may vary by contract or jurisdiction. We discount periodic payment annuity liabilities based on the implicit rate as of the inception of the contracts such that the present value of the liabilities equals the premiums. Discount rates for most contracts range from 3% to 7%. |
Regulated utilities and energy businesses | (t) Regulated utilities and energy businesses Certain energy subsidiaries prepare their financial statements in accordance with authoritative guidance for regulated operations, reflecting the economic effects of regulation from the ability to recover certain costs from customers and the requirement to return revenues to customers in the future through the regulated rate-setting process. Accordingly, certain costs are deferred as regulatory assets and certain income is accrued as regulatory liabilities. Regulatory assets and liabilities will be amortized into operating expenses and revenues over various future periods. Regulatory assets and liabilities are continually assessed for probable future inclusion in regulatory rates by considering factors such as applicable regulatory or legislative changes and recent rate orders received by other regulated entities. If future inclusion in regulatory rates ceases to be probable, the amount no longer probable of inclusion in regulatory rates is charged or credited to earnings (or other comprehensive income, if applicable) or returned to customers. |
Foreign currency | (u) Foreign currency The accounts of our non-U.S. based subsidiaries are measured, in most instances, using functional currencies other than the U.S. Dollar. Revenues and expenses in the financial statements of these subsidiaries are translated into U.S. Dollars at the average exchange rate for the period and assets and liabilities are translated at the exchange rate as of the end of the reporting period. The net effects of translating the financial statements of these subsidiaries are included in shareholders’ equity as a component of accumulated other comprehensive income. Gains and losses arising from transactions denominated in a currency other than the functional currency of the reporting entity, including gains and losses from the remeasurement of assets and liabilities due to changes in currency exchange rates, are included in earnings. |
Income taxes | (v) Income taxes Berkshire files a consolidated federal income tax return in the United States, which includes eligible subsidiaries. In addition, we file income tax returns in state, local and foreign jurisdictions as applicable. Provisions for current income tax liabilities are calculated and accrued on income and expense amounts expected to be included in the income tax returns for the current year. Income taxes reported in earnings also include deferred income tax provisions. Deferred income tax assets and liabilities are computed on differences between the financial statement bases and tax bases of assets and liabilities at the enacted tax rates. Changes in deferred income tax assets and liabilities associated with components of other comprehensive income are charged or credited directly to other comprehensive income. Otherwise, changes in deferred income tax assets and liabilities are included as a component of income tax expense. The effect on deferred income tax assets and liabilities attributable to changes in enacted tax rates are charged or credited to income tax expense in the period of enactment. Valuation allowances are established for certain deferred tax assets when realization is not likely. Assets and liabilities are established for uncertain tax positions taken or positions expected to be taken in income tax returns when such positions, in our judgment, do not meet a more-likely-than-not threshold based on the technical merits of the positions. Estimated interest and penalties related to uncertain tax positions are included as a component of income tax expense. |
New accounting pronouncements adopted | Notes to Consolidated Financial Statements (Continued) (1) Significant accounting policies and practices (Continued) (w) New accounting pronouncements adopted in 2020 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 therefore 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. 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. (x) New accounting pronouncements adopted in 2019 Berkshire adopted ASC 842 “Leases” on January 1, 2019 with respect to contracts in effect as of the adoption and elected to not restate prior period financial statements. Most significantly, ASC 842 requires a lessee to recognize a liability to make operating lease payments and an asset with respect to its right to use the underlying asset for the lease term. Upon adoption, we recorded operating lease right-of-use assets of approximately $6.2 billion, lease liabilities of $5.9 billion and reduced other assets by approximately $300 million. |
New accounting pronouncements to be adopted subsequent to December 31, 2021 | (y) New accounting pronouncements to be adopted subsequent to December 31, 2021 In August 2018, the Financial Accounting Standards Board issued Accounting Standards Update 2018-12 “Targeted Improvements to the Accounting for Long-Duration Contracts” (“ASU 2018-12”). ASU 2018-12 requires reassessment of cash flow assumptions at least annually and revision of discount rate assumptions each reporting period in valuing policyholder liabilities and related deferred acquisition costs of long-duration insurance and reinsurance contracts. The effects from changes in cash flow assumptions are reflected in earnings and the effects from changes in discount rate assumptions are reflected in other comprehensive income. Currently, the cash flow and discount rate assumptions are set at the contract inception date and not subsequently changed, except under limited circumstances. ASU 2018-12 is to be applied retrospectively to the earliest period presented in the financial statements, requires new disclosures and is effective for fiscal years beginning after December 15, 2022, with early adoption permitted. We currently intend to adopt ASU 2018-12 as of January 1, 2023 using the modified retrospective method, which provides that the revised cash flow and discount rate assumptions as of January 1, 2021 (the transition date) be applied to contracts then in-force, with liabilities then remeasured as provided under the standard. The cumulative effects from discount rate assumption changes as of the transition date will be reflected in accumulated other comprehensive income and the cumulative effect from cash flow assumption changes will be included in retained earnings. While we have not finalized our assessment of the impact of the adoption as of the transition date, we currently believe that the changes in discount rate assumptions will have a greater effect on our recorded liabilities than changes in cash flow assumptions. We also preliminarily estimate that the changes in discount rate assumptions as of January 1, 2021 will increase our life, health and annuity benefit liabilities from the amounts previously reported due to the historically low interest rate environment at that time. However, the ultimate impact of adopting ASU 2018-12 will be based on the discount rate and cash flow assumptions determined as of the January 1, 2023 adoption date. We, therefore, continue to evaluate the effect this standard will have on our Consolidated Financial Statements. |
Fixed Maturities [Member] | |
Investments in fixed maturity and equity securities | (d) Investments in fixed maturity securities We classify investments in fixed maturity securities on the acquisition date and at each balance sheet date. Securities classified as held-to-maturity are carried at amortized cost, reflecting the ability and intent to hold the securities to maturity. Securities classified as trading are acquired with the intent to sell in the near term and are carried at fair value with changes in fair value reported in earnings. All other securities are classified as available-for-sale and are carried at fair value. Substantially all of investments in fixed maturity securities are classified as available-for-sale. We amortize the difference between the original cost and maturity value of a fixed maturity security to earnings using the interest method. Notes to Consolidated Financial Statements (Continued) (1) Significant accounting policies and practices (Continued) (d) Investments in fixed maturity securities (Continued) We record investment gains and losses on available-for-sale fixed maturity securities when the securities are sold, determined on a specific identification basis. For securities in an unrealized loss position, we recognize a loss in earnings for the excess of amortized cost over fair value if we intend to sell before the price recovers. As of the balance sheet date, we evaluate whether the other unrealized losses are attributable to credit losses or other factors. We consider the severity of the decline in value, creditworthiness of the issuer and other relevant factors. We record an allowance for credit losses, limited to the excess of amortized cost over fair value, with a corresponding charge to earnings if the present value of estimated cash flows is less than the present value of contractual cash flows. The allowance may be subsequently increased or decreased based on the prevailing facts and circumstances. The portion of the unrealized loss that we believe is not related to a credit loss is recognized in other comprehensive income. |
Equity Securities [Member] | |
Investments in fixed maturity and equity securities | (e) Investments in equity securities We carry substantially all investments in equity securities at fair value and record the subsequent changes in fair values in the Consolidated Statements of Earnings as a component of investment gains or losses. |
Business acquisitions (Tables)
Business acquisitions (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Business Combinations [Abstract] | |
Summary of preliminary fair values of identified assets acquired and liabilities assumed and residual goodwill | The cost of the acquisition was approximately $2.5 billion after post-closing adjustments as provided in the agreement. The fair values of identified assets acquired and liabilities assumed and residual goodwill are summarized as follows (in millions). Property, plant and equipment $ 9,264 Goodwill 1,741 Other 2,398 Assets acquired $ 13,403 Notes payable and other borrowings $ 5,615 Other 1,358 Liabilities assumed 6,973 Noncontrolling interests 3,916 Net assets $ 2,514 |
Investments in fixed maturity_2
Investments in fixed maturity securities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Investments Debt And Equity Securities [Abstract] | |
Schedule of investments in securities with fixed maturities | Investments in fixed maturity securities as of December 31, 2021 and 2020 are summarized by type below (in millions). Amortized Cost Unrealized Gains Unrealized Losses Fair Value December 31, 2021 U.S. Treasury, U.S. government corporations and agencies $ 3,286 $ 22 $ (5 ) $ 3,303 Foreign governments 10,998 29 (33 ) 10,994 Corporate bonds 1,363 412 (1 ) 1,774 Other 317 47 (1 ) 363 $ 15,964 $ 510 $ (40 ) $ 16,434 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 | 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 $ 9,171 $ 6,044 $ 307 $ 207 $ 235 $ 15,964 Fair value 9,165 6,086 559 347 277 16,434 |
Investments in equity securit_2
Investments in equity securities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Investments Debt And Equity Securities [Abstract] | |
Schedule of investments in equity securities | Investments in equity securities as of December 31, 2021 and 2020 are summarized based on the primary industry of the investee in the table below (in millions). Cost Basis Net Unrealized Gains Fair Value December 31, 2021 * Banks, insurance and finance $ 26,822 $ 62,236 $ 89,058 Consumer products 36,076 154,945 191,021 Commercial, industrial and other 41,707 28,933 70,640 $ 104,605 $ 246,114 $ 350,719 * Approximately 73% of the aggregate fair value was concentrated in four companies (American Express Company – $24.8 billion; Apple Inc. – $161.2 billion; Bank of America Corporation – $46.0 billion and The Coca-Cola Company – $23.7 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) | 12 Months Ended |
Dec. 31, 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). December 25, 2021 December 26, 2020 Assets $ 93,394 $ 99,830 Liabilities 43,942 49,587 Year ending December 25, 2021 Year ending December 26, 2020 Year ending December 28, 2019 Sales $ 26,042 $ 26,185 $ 24,977 Net earnings attributable to Kraft Heinz common shareholders $ 1,012 $ 356 $ 1,935 |
Investment and derivative con_2
Investment and derivative contract gains/losses (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Investments Debt And Equity Securities [Abstract] | |
Summary of investment and derivative gains and losses | Investment and derivative contract gains/losses for each of the three years ending December 31, 2021 are summarized as follows (in millions). 2021 2020 2019 Investment gains (losses): Equity securities: Change in unrealized investment gains (losses) during the year on securities held at the end of the year $ 76,375 $ 54,951 $ 69,581 Investment gains (losses) during the year on securities sold 997 (14,036 ) 1,585 77,372 40,915 71,166 Fixed maturity securities: Gross realized gains 85 56 87 Gross realized losses (29 ) (27 ) (25 ) Other 148 (39 ) (105 ) Investment gains (losses) 77,576 40,905 71,123 Derivative contract gains (losses) 966 (159 ) 1,484 $ 78,542 $ 40,746 $ 72,607 |
Derivative contracts outstanding | Information related to these contracts follows (dollars in millions). December 31, 2021 2020 Balance sheet liabilities - at fair value $ 99 $ 1,065 Notional value 6,992 10,991 Intrinsic value — 727 Weighted average remaining life (in years) 0.5 1.2 |
Loans and finance receivables (
Loans and finance receivables (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Schedule of receivables | Other receivables are comprised of the following (in millions). December 31, 2021 December 31, 2020 Insurance and other: Insurance premiums receivable $ 15,050 $ 14,025 Reinsurance recoverables 4,900 4,805 Trade receivables 12,971 11,521 Other 3,146 2,637 Allowances for credit losses (679 ) (678 ) $ 35,388 $ 32,310 Railroad, utilities and energy: Trade receivables $ 3,678 $ 3,235 Other 650 438 Allowances for credit losses (151 ) (131 ) $ 4,177 $ 3,542 |
Loans and Finance Receivables [Member] | |
Schedule of receivables | Loans and finance receivables are summarized as follows (in millions). December 31, 2021 2020 Loans and finance receivables before allowances and discounts $ 22,065 $ 20,436 Allowances for credit losses (765 ) (712 ) Unamortized acquisition discounts and points (549 ) (523 ) $ 20,751 $ 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 2021, 2020 and 2019 follow (in millions). 2021 2020 2019 Balance at beginning of year $ 712 $ 167 $ 177 Adoption of ASC 326 — 486 — Provision for credit losses 88 177 125 Charge-offs, net of recoveries (35 ) (118 ) (135 ) Balance at December 31 $ 765 $ 712 $ 167 |
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 December 31, 2021 follows (in millions). Origination Year 2021 2020 2019 2018 2017 Prior Total Performing $ 4,898 $ 3,164 $ 2,238 $ 1,694 $ 1,259 $ 6,842 $ 20,095 Non-performing 4 5 6 7 5 40 67 Total $ 4,902 $ 3,169 $ 2,244 $ 1,701 $ 1,264 $ 6,882 $ 20,162 |
Other receivables (Tables)
Other receivables (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Receivables [Abstract] | |
Schedule of receivables | Other receivables are comprised of the following (in millions). December 31, 2021 December 31, 2020 Insurance and other: Insurance premiums receivable $ 15,050 $ 14,025 Reinsurance recoverables 4,900 4,805 Trade receivables 12,971 11,521 Other 3,146 2,637 Allowances for credit losses (679 ) (678 ) $ 35,388 $ 32,310 Railroad, utilities and energy: Trade receivables $ 3,678 $ 3,235 Other 650 438 Allowances for credit losses (151 ) (131 ) $ 4,177 $ 3,542 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Inventory Disclosure [Abstract] | |
Schedule of inventories | Inventories are comprised of the following (in millions). December 31, 2021 2020 Raw materials $ 5,743 $ 4,821 Work in process and other 3,192 2,541 Finished manufactured goods 4,530 4,412 Goods acquired for resale 7,489 7,434 $ 20,954 $ 19,208 |
Property, plant and equipment_2
Property, plant and equipment including equipment held for lease (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Schedule of depreciation expense | Depreciation expense for each of the three years ending December 31, 2021 is summarized below (in millions). 2021 2020 2019 Insurance and other $ 2,318 $ 2,320 $ 2,269 Railroad, utilities and energy 5,990 5,799 5,297 $ 8,308 $ 8,119 $ 7,566 |
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). December 31, 2021 2020 Land, buildings and improvements $ 14,070 $ 13,799 Machinery and equipment 26,063 25,488 Furniture, fixtures and other 4,640 4,530 44,773 43,817 Accumulated depreciation (23,939 ) (22,617 ) $ 20,834 $ 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. December 31, 2021 2020 Railroad: Land, track structure and other roadway $ 65,843 $ 63,824 Locomotives, freight cars and other equipment 13,822 13,523 Construction in progress 1,027 916 80,692 78,263 Accumulated depreciation (14,978 ) (13,175 ) 65,714 65,088 Utilities and energy: Utility generation, transmission and distribution systems 90,223 86,730 Interstate natural gas pipeline assets 17,423 16,667 Independent power plants and other assets 13,695 12,671 Construction in progress 4,196 3,308 125,537 119,376 Accumulated depreciation (35,721 ) (33,248 ) 89,816 86,128 $ 155,530 $ 151,216 |
Equipment held for lease (Table
Equipment held for lease (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Property Plant And Equipment [Abstract] | |
Schedule of equipment held for lease | Equipment held for lease includes railcars, aircraft, over-the-road trailers, intermodal tank containers, cranes, storage units and furniture. Equipment held for lease is summarized below (in millions). December 31, 2021 2020 Railcars $ 9,448 $ 9,402 Aircraft 9,234 8,204 Other 5,053 4,868 23,735 22,474 Accumulated depreciation (8,817 ) (7,873 ) $ 14,918 $ 14,601 |
Summary of fixed and variable operating lease revenues | Fixed and variable operating lease revenues for each of the three years ending December 31, 2021 are summarized below (in millions). 2021 2020 2019 Fixed lease revenue $ 4,482 $ 4,262 $ 4,415 Variable lease revenue 1,506 947 1,441 $ 5,988 $ 5,209 $ 5,856 |
Summary of remaining operating lease receipts | A summary of future operating lease receipts as of December 31, 2021 follows (in millions). 2022 2023 2024 2025 2026 Thereafter Total $ 2,922 $ 2,233 $ 1,623 $ 1,009 $ 536 $ 392 $ 8,715 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Leases [Abstract] | |
Summary of remaining operating lease payments | A summary of our remaining future operating lease payments reconciled to lease liabilities as of December 31, 2021 and December 31, 2020 follows (in millions). Year 1 Year 2 Year 3 Year 4 Year 5 Thereafter Total lease payments Amount representing interest Lease liabilities December 31: 2021 $ 1,238 $ 1,038 $ 835 $ 631 $ 418 $ 1,571 $ 5,731 $ (740 ) $ 4,991 2020 1,342 1,111 905 725 544 1,691 6,318 (849 ) 5,469 |
Components of operating lease costs | Components of operating lease costs for the three years ending December 31, 2021, by type, are summarized in the following table (in millions). 2021 2020 2019 Operating lease cost $ 1,426 $ 1,413 $ 1,459 Short-term lease cost 154 145 178 Variable lease cost 223 228 276 Sublease income (10 ) (10 ) (24 ) Total lease cost $ 1,793 $ 1,776 $ 1,889 |
Goodwill and other intangible_2
Goodwill and other intangible assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Reconciliation of the change in goodwill | Reconciliations of the changes in the carrying value of goodwill during 2021 and 2020 follow (in millions). December 31, 2021 2020 Balance at beginning of year $ 73,734 $ 81,882 Business acquisitions 353 1,758 Impairment charges — (10,033 ) Other, including foreign currency translation (212 ) 127 Balance at end of year* $ 73,875 $ 73,734 * Net of accumulated goodwill impairments of |
Schedule of intangible assets | The gross carrying amounts and related accumulated amortization of other intangible assets are summarized as follows (in millions). December 31, 2021 December 31, 2020 Gross carrying amount Accumulated amortization Net carrying value Gross carrying amount Accumulated amortization Net carrying value Insurance and other: Customer relationships $ 27,335 $ 6,450 $ 20,885 $ 27,374 $ 5,756 $ 21,618 Trademarks and trade names 5,176 802 4,374 5,206 779 4,427 Patents and technology 4,763 3,484 1,279 4,766 3,313 1,453 Other 3,390 1,442 1,948 3,339 1,375 1,964 $ 40,664 $ 12,178 $ 28,486 $ 40,685 $ 11,223 $ 29,462 Railroad, utilities and energy: Customer relationships $ 678 $ 396 $ 282 $ 678 $ 361 $ 317 Trademarks, trade names and other 1,015 146 869 1,003 98 905 $ 1,693 $ 542 $ 1,151 $ 1,681 $ 459 $ 1,222 |
Supplemental cash flow inform_2
Supplemental cash flow information (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Supplemental Cash Flow Elements [Abstract] | |
Schedule of supplemental cash flow information | A summary of supplemental cash flow information for each of the three years ending December 31, 2021 is presented in the following table (in millions). 2021 2020 2019 Cash paid during the year for: Income taxes $ 5,412 $ 5,001 $ 5,415 Interest: Insurance and other 1,227 1,001 1,011 Railroad, utilities and energy 3,162 3,006 2,879 Non-cash investing and financing activities: Liabilities assumed in connection with business acquisitions 102 6,981 766 Operating lease liabilities arising from obtaining right-of-use assets 687 729 782 |
Unpaid losses and loss adjust_2
Unpaid losses and loss adjustment expenses (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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 17), for each of the three years ending December 31, 2021 is as follows (in millions). 2021 2020 2019 Balances at beginning of year: Gross liabilities $ 79,854 $ 73,019 $ 68,458 Reinsurance recoverable on unpaid losses (2,912 ) (2,855 ) (3,060 ) Net liabilities 76,942 70,164 65,398 Incurred losses and loss adjustment expenses: Current accident year 52,099 43,400 43,335 Prior accident years (3,116 ) (356 ) (752 ) Total 48,983 43,044 42,583 Paid losses and loss adjustment expenses: Current accident year (22,897 ) (17,884 ) (19,482 ) Prior accident years (18,904 ) (18,862 ) (17,642 ) Total (41,801 ) (36,746 ) (37,124 ) Foreign currency effect (420 ) 480 (23 ) Business acquisition (disposition) — — (670 ) Balances at December 31: Net liabilities 83,704 76,942 70,164 Reinsurance recoverable on unpaid losses 2,960 2,912 2,855 Gross liabilities $ 86,664 $ 79,854 $ 73,019 |
Schedule of reconciliation of unpaid losses and allocated loss adjustment expenses to balance sheet liability | A reconciliation of the disaggregated net unpaid losses and allocated loss adjustment expenses (the latter referred to as “ALAE”) of GEICO, Berkshire Hathaway Primary Group (“BH Primary”) and Berkshire Hathaway Reinsurance Group (“BHRG”) to our consolidated unpaid losses and loss adjustment expenses as of December 31, 2021 follows (in millions). GEICO Physical Damage GEICO Auto Liability BH Primary Medical Professional Liability BH Primary Workers’ Compensation and Other Casualty BHRG Property BHRG Casualty Total Unpaid losses and ALAE, net $ 729 $ 19,768 $ 8,506 $ 13,579 $ 13,119 $ 23,611 $ 79,312 Reinsurance recoverable 11 1,085 28 639 181 892 2,836 Unpaid unallocated loss adjustment expenses 2,448 Other unpaid losses and loss adjustment expenses 2,068 Unpaid losses and loss adjustment expenses $ 86,664 |
Schedule of average historical claims duration | Required supplemental unaudited average historical claims duration information based on the net losses and ALAE incurred and paid accident year data in the preceding tables follows. The percentages show the average portions of net losses and ALAE paid by each succeeding year, with year 1 representing the current accident year. Average Annual Percentage Payout of Incurred Losses by Age, Net of Reinsurance In Year 1 2 3 4 5 6 7 8 9 10 GEICO Physical Damage 97% 3% GEICO Auto Liability 41% 30% 13% 8% 4% BH Primary Medical Professional Liability 2% 8% 12% 14% 13% 11% 8% 5% 4% 2% BH Primary Workers’ Compensation and Other Casualty 16% 21% 16% 12% 8% 4% 3% 2% 1% 1% BHRG Property 19% 36% 16% 8% 5% 4% 2% 1% 1% 1% BHRG Casualty 11% 16% 13% 9% 6% 5% 5% 3% 2% 2% |
GEICO [Member] | Insurance Group [Member] | Physical Damage [Member] | |
Schedule of incurred and paid losses and allocated loss adjustment expenses | GEICO’s net incurred and paid auto physical damage and liability losses and ALAE are summarized by accident year below. IBNR and case development liabilities are as of December 31, 2021. Claim counts are established when accidents that may result in a liability are reported and are based on policy coverage. Each claim event may generate claims under multiple coverages, and thus may result in multiple counts. The “Cumulative Number of Reported Claims” includes the combined number of reported claims for all auto policy coverages. Dollars are in millions. Physical Damage Incurred Losses and ALAE through December 31, Cumulative Number of Accident Year 2020* 2021 IBNR and Case Development Liabilities Reported Claims (in thousands) 2020 $ 8,603 $ 8,396 $ 64 7,935 2021 12,135 420 8,967 Incurred losses and ALAE $ 20,531 Cumulative Paid Losses and ALAE through December 31, Accident Year 2020* 2021 2020 $ 8,118 $ 8,385 2021 11,427 Paid losses and ALAE 19,812 Net unpaid losses and ALAE for 2020 – 2021 accident years 719 Net unpaid losses and ALAE for accident years before 2020 10 Net unpaid losses and ALAE $ 729 |
GEICO [Member] | Insurance Group [Member] | Auto Liability [Member] | |
Schedule of incurred and paid losses and allocated loss adjustment expenses | Auto Liability Incurred Losses and ALAE through December 31, Cumulative Number of Accident Year 2017* 2018* 2019* 2020* 2021 IBNR and Case Development Liabilities Reported Claims (in thousands) 2017 $ 14,095 $ 13,864 $ 13,888 $ 13,824 $ 13,777 $ 232 2,646 2018 15,383 15,226 14,985 14,838 495 2,713 2019 16,901 16,678 16,191 1,202 2,778 2020 14,637 14,024 2,564 2,087 2021 17,481 5,541 2,216 Incurred losses and ALAE $ 76,311 Cumulative Paid Losses and ALAE through December 31, Accident Year 2017* 2018* 2019* 2020* 2021 2017 $ 5,806 $ 9,944 $ 11,799 $ 12,729 $ 13,260 2018 6,218 10,772 12,658 13,757 2019 6,742 11,671 13,851 2020 5,395 9,839 2021 6,450 Paid losses and ALAE 57,157 Net unpaid losses and ALAE for 2017 – 2021 accident years 19,154 Net unpaid losses and ALAE for accident years before 2017 614 Net unpaid losses and ALAE $ 19,768 * Unaudited required supplemental information |
Berkshire Hathaway Primary Group [Member] | Insurance Group [Member] | Medical Professional Liability [Member] | |
Schedule of incurred and paid losses and allocated loss adjustment expenses | Medical Professional Liability We estimate the ultimate expected incurred losses and loss adjustment expenses for medical professional claim liabilities using a variety of commonly accepted actuarial methodologies, such as the paid and incurred development method and Bornhuetter-Ferguson based methods, as well as other techniques that consider insured loss exposures and historical and expected loss trends, among other factors. These methodologies produce loss estimates from which we determine our best estimate. In addition, we study developments in older accident years and adjust initial loss estimates to reflect recent developments based upon claim age, coverage and litigation experience. Incurred Losses and ALAE through December 31, Cumulative Number of Accident Year 2012* 2013* 2014* 2015* 2016* 2017* 2018* 2019* 2020* 2021 IBNR and Case Development Liabilities Reported Claims (in thousands) 2012 $ 1,336 $ 1,306 $ 1,277 $ 1,223 $ 1,168 $ 1,078 $ 1,035 $ 998 $ 988 $ 971 $ 51 11 2013 1,328 1,296 1,261 1,195 1,127 1,086 1,019 985 978 62 11 2014 1,370 1,375 1,305 1,246 1,218 1,127 1,061 1,033 108 11 2015 1,374 1,342 1,269 1,290 1,218 1,157 1,093 136 12 2016 1,392 1,416 1,414 1,394 1,341 1,288 213 15 2017 1,466 1,499 1,495 1,474 1,382 328 21 2018 1,602 1,650 1,659 1,580 495 23 2019 1,670 1,691 1,663 869 20 2020 1,704 1,751 1,319 27 2021 1,852 1,672 15 Incurred losses and ALAE $ 13,591 Cumulative Paid Losses and ALAE through December 31, Accident Year 2012* 2013* 2014* 2015* 2016* 2017* 2018* 2019* 2020* 2021 2012 $ 15 $ 93 $ 218 $ 377 $ 522 $ 642 $ 725 $ 789 $ 830 $ 848 2013 15 90 219 368 518 635 743 793 821 2014 21 106 238 396 540 671 752 788 2015 23 108 218 382 543 663 719 2016 22 115 274 461 620 712 2017 27 128 300 457 582 2018 35 166 367 543 2019 39 160 314 2020 34 148 2021 36 Paid losses and ALAE 5,511 Net unpaid losses and ALAE for 2012 – 2021 accident years 8,080 Net unpaid losses and ALAE for accident years before 2012 426 Net unpaid losses and ALAE $ 8,506 * Unaudited required supplemental information |
Berkshire Hathaway Primary Group [Member] | Insurance Group [Member] | Workers' Compensation and Other Casualty [Member] | |
Schedule of incurred and paid losses and allocated loss adjustment expenses | Workers’ Compensation and Other Casualty We periodically evaluate ultimate loss and loss adjustment expense estimates for the workers’ compensation and other casualty claims using a combination of commonly accepted actuarial methodologies such as the Bornhuetter-Ferguson and chain-ladder approaches using paid and incurred loss data. Paid and incurred loss data is segregated and analyzed by state due to the different state regulatory frameworks that may impact certain factors, including the duration and amount of loss payments. We also separately study the various components of liabilities, such as employee lost wages, medical expenses and the costs of claims investigations and administration. We establish case liabilities for reported claims based upon the facts and circumstances of the claim. The excess of the ultimate projected losses, including the expected development of case estimates, and the case-basis liabilities is included in IBNR liabilities. Incurred Losses and ALAE through December 31, Cumulative Number of Accident Year 2012* 2013* 2014* 2015* 2016* 2017* 2018* 2019* 2020* 2021 IBNR and Case Development Liabilities Reported Claims (in thousands) 2012 $ 873 $ 850 $ 837 $ 791 $ 780 $ 762 $ 750 $ 736 $ 718 $ 709 $ 39 53 2013 1,258 1,228 1,178 1,127 1,096 1,072 1,050 1,028 1,008 96 67 2014 1,743 1,638 1,614 1,548 1,482 1,497 1,477 1,460 163 90 2015 2,169 2,127 2,042 2,014 2,025 1,997 2,006 242 111 2016 2,511 2,422 2,359 2,325 2,365 2,370 396 115 2017 3,044 2,907 2,842 2,843 2,852 503 139 2018 3,544 3,412 3,480 3,536 908 160 2019 4,074 4,102 4,175 1,278 173 2020 4,421 4,278 2,089 141 2021 5,197 3,545 218 Incurred losses and ALAE $ 27,591 Cumulative Paid Losses and ALAE through December 31, Accident Year 2012* 2013* 2014* 2015* 2016* 2017* 2018* 2019* 2020* 2021 2012 $ 116 $ 299 $ 414 $ 501 $ 560 $ 592 $ 611 $ 626 $ 634 $ 640 2013 177 422 609 725 793 835 858 874 884 2014 239 557 800 1,007 1,111 1,176 1,214 1,245 2015 289 700 1,017 1,289 1,488 1,570 1,648 2016 329 775 1,148 1,461 1,661 1,778 2017 441 1,003 1,434 1,771 1,956 2018 538 1,198 1,683 2,028 2019 682 1,478 2,022 2020 695 1,391 2021 833 Paid losses and ALAE 14,425 Net unpaid losses and ALAE for 2012 – 2021 accident years 13,166 Net unpaid losses and ALAE for accident years before 2012 413 Net unpaid losses and ALAE $ 13,579 * Unaudited required supplemental information |
Berkshire Hathaway Reinsurance Group [Member] | Insurance Group [Member] | Property [Member] | |
Schedule of incurred and paid losses and allocated loss adjustment expenses | BHRG’s disaggregated incurred and paid losses and ALAE are summarized by accident year. IBNR and case development liabilities are as of December 31, 2021. Dollars are in millions. Property Incurred Losses and ALAE through December 31, Accident Year 2012* 2013* 2014* 2015* 2016* 2017* 2018* 2019* 2020* 2021 IBNR and Case Development Liabilities 2012 $ 3,129 $ 2,822 $ 2,621 $ 2,382 $ 2,330 $ 2,327 $ 2,309 $ 2,294 $ 2,285 $ 2,305 $ 31 2013 3,198 3,035 2,690 2,600 2,579 2,520 2,469 2,455 2,453 29 2014 2,619 2,408 2,297 2,154 2,100 2,028 1,999 1,996 33 2015 3,256 3,103 2,546 2,950 2,948 2,971 2,975 154 2016 3,261 3,890 3,616 3,585 3,589 3,578 112 2017 5,253 4,953 4,806 4,698 4,631 141 2018 4,375 4,467 4,344 4,227 461 2019 4,065 4,234 3,992 541 2020 5,795 6,048 1,504 2021 6,669 3,405 Incurred losses and ALAE $ 38,874 Cumulative Paid Losses and ALAE through December 31, Accident Year 2012* 2013* 2014* 2015* 2016* 2017* 2018* 2019* 2020* 2021 2012 $ 259 $ 1,218 $ 1,796 $ 1,934 $ 2,022 $ 2,097 $ 2,117 $ 2,162 $ 2,180 $ 2,201 2013 515 1,424 1,863 2,060 2,180 2,260 2,300 2,328 2,352 2014 465 1,234 1,555 1,693 1,758 1,808 1,838 1,860 2015 577 1,596 1,946 2,141 2,245 2,427 2,510 2016 705 1,794 2,186 2,647 2,899 3,083 2017 1,025 2,712 3,633 3,944 4,163 2018 907 2,310 2,831 3,061 2019 748 2,247 2,830 2020 956 2,882 2021 1,214 Paid losses and ALAE 26,156 Net unpaid losses and ALAE for 2012 – 2021 accident years 12,718 Net unpaid losses and ALAE for accident years before 2012 401 Net unpaid losses and ALAE $ 13,119 * Unaudited required supplemental information |
Berkshire Hathaway Reinsurance Group [Member] | Insurance Group [Member] | Casualty [Member] | |
Schedule of incurred and paid losses and allocated loss adjustment expenses | Casualty Incurred Losses and ALAE through December 31, Accident Year 2012* 2013* 2014* 2015* 2016* 2017* 2018* 2019* 2020* 2021 IBNR and Case Development Liabilities 2012 $ 2,792 $ 2,974 $ 2,808 $ 2,871 $ 2,799 $ 2,686 $ 2,619 $ 2,562 $ 2,556 $ 2,557 $ 372 2013 2,132 2,268 2,298 2,141 2,086 2,032 1,937 1,865 1,837 331 2014 1,872 2,069 2,038 2,001 1,915 1,952 1,942 1,847 431 2015 1,877 2,082 2,109 2,008 1,882 1,844 1,817 395 2016 1,906 2,115 2,023 1,980 1,900 1,843 451 2017 2,193 2,685 2,563 2,470 2,383 582 2018 2,924 3,559 3,482 3,340 904 2019 3,429 3,901 3,780 1,521 2020 3,861 3,987 2,147 2021 3,744 2,584 Incurred losses and ALAE $ 27,135 Cumulative Paid Losses and ALAE through December 31, Accident Year 2012* 2013* 2014* 2015* 2016* 2017* 2018* 2019* 2020* 2021 2012 $ 308 $ 747 $ 1,139 $ 1,368 $ 1,525 $ 1,650 $ 1,750 $ 1,810 $ 1,868 $ 1,906 2013 290 519 805 933 1,037 1,139 1,199 1,256 1,290 2014 149 477 642 752 874 959 1,103 1,147 2015 196 489 713 833 924 1,014 1,088 2016 253 555 732 862 960 1,043 2017 230 564 819 1,269 1,376 2018 265 867 1,639 1,909 2019 353 896 1,176 2020 404 970 2021 307 Paid losses and ALAE 12,212 Net unpaid losses and ALAE for 2012 – 2021 accident years 14,923 Net unpaid losses and ALAE for accident years before 2012 8,688 Net unpaid losses and ALAE $ 23,611 * Unaudited required supplemental information |
Retroactive reinsurance contr_2
Retroactive reinsurance contracts (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Insurance [Abstract] | |
Reconciliation of changes in retroactive reinsurance claim liabilities and deferred charge assets | Reconciliations of the changes in estimated liabilities for retroactive reinsurance unpaid losses and loss adjustment expenses (“claim liabilities”) and related deferred charge reinsurance assumed assets for each of the three years ended December 31, 2021 follow (in millions). 2021 2020 2019 Unpaid losses and loss adjustment expenses Deferred charges - retroactive reinsurance Unpaid losses and loss adjustment expenses Deferred charges - retroactive reinsurance Unpaid losses and loss adjustment expenses Deferred charges - retroactive reinsurance Balances at beginning of year $ 40,966 $ (12,441 ) $ 42,441 $ (13,747 ) $ 41,834 $ (14,104 ) Incurred losses and loss adjustment expenses: Current year contracts 153 (17 ) — — 1,138 (453 ) Prior years’ contracts (974 ) 1,819 (399 ) 1,306 378 810 Total (821 ) 1,802 (399 ) 1,306 1,516 357 Paid losses and loss adjustment expenses (1,889 ) — (1,076 ) — (909 ) — Balances at December 31 $ 38,256 $ (10,639 ) $ 40,966 $ (12,441 ) $ 42,441 $ (13,747 ) Incurred losses and loss adjustment expenses, net of deferred charges $ 981 $ 907 $ 1,873 |
Notes payable and other borro_2
Notes payable and other borrowings (Tables) | 12 Months Ended |
Dec. 31, 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 December 31, 2021. Weighted Average December 31, Interest Rate 2021 2020 Insurance and other: Berkshire Hathaway Inc. (“Berkshire”): U.S. Dollar denominated due 2022-2047 3.3 % $ 6,820 $ 8,308 Euro denominated due 2023-2041 1.0 % 7,792 8,326 Japanese Yen denominated due 2023-2060 0.6 % 6,797 6,031 Berkshire Hathaway Finance Corporation (“BHFC”): U.S. Dollar denominated due 2022-2051 3.6 % 10,758 10,766 Great Britain Pound denominated due 2039-2059 2.5 % 2,325 2,347 Other subsidiary borrowings due 2022-2045 4.0 % 4,438 4,682 Short-term subsidiary borrowings 2.9 % 342 1,062 $ 39,272 $ 41,522 |
Debt principal payments disclosure | Debt principal repayments expected during each of the next five years are as follows (in millions). Amounts in 2022 include short-term borrowings. 2022 2023 2024 2025 2026 Insurance and other $ 1,933 $ 5,879 $ 2,154 $ 2,703 $ 3,422 Railroad, utilities and energy 4,206 4,832 3,991 3,792 2,033 $ 6,139 $ 10,711 $ 6,145 $ 6,495 $ 5,455 |
Railroad, Utilities and Energy [Member] | |
Schedule of short and long term outstanding debt disclosure | Weighted Average December 31, Interest Rate 2021 2020 Railroad, utilities and energy: Berkshire Hathaway Energy Company (“BHE”) and subsidiaries: BHE senior unsecured debt due 2023-2051 4.3 % $ 13,003 $ 13,447 Subsidiary and other debt due 2022-2064 4.1 % 36,759 36,420 Short-term borrowings 1.4 % 2,009 2,286 Burlington Northern Santa Fe (“BNSF”) and subsidiaries due 2022-2097 4.5 % 23,219 23,220 $ 74,990 $ 75,373 |
Income taxes (Tables)
Income taxes (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Schedule of income tax liability | The liabilities for income taxes reflected in our Consolidated Balance Sheets are as follows (in millions). December 31, 2021 2020 Currently payable (receivable) $ (482 ) $ (276 ) Deferred 89,679 73,261 Other 1,046 1,113 $ 90,243 $ 74,098 |
Schedule of deferred tax assets and liabilities | The tax effects of temporary differences that give rise to significant portions of deferred tax assets and deferred tax liabilities are shown below (in millions). December 31, 2021 2020 Deferred tax liabilities: Investments – unrealized appreciation $ 55,437 $ 40,181 Deferred charges reinsurance assumed 2,234 2,613 Property, plant and equipment and equipment held for lease 31,323 30,203 Goodwill and other intangible assets 6,748 6,753 Other 4,094 3,736 99,836 83,486 Deferred tax assets: Unpaid losses and loss adjustment expenses (1,091 ) (1,135 ) Unearned premiums (990 ) (900 ) Accrued liabilities (1,868 ) (2,193 ) Regulatory liabilities (1,349 ) (1,421 ) Other (4,859 ) (4,576 ) (10,157 ) (10,225 ) Net deferred tax liability $ 89,679 $ 73,261 |
Schedule of tax provision by jurisdiction category and classification | Income tax expense reflected in our Consolidated Statements of Earnings for each of the three years ending December 31, 2021 was as follows (in millions). 2021 2020 2019 Federal $ 20,345 $ 10,596 $ 19,069 State (527 ) 1,086 625 Foreign 1,061 758 1,210 $ 20,879 $ 12,440 $ 20,904 Current $ 5,326 $ 5,052 $ 5,818 Deferred 15,553 7,388 15,086 $ 20,879 $ 12,440 $ 20,904 |
Schedule of income tax reconciled to federal statutory amount | Income tax expense is reconciled to hypothetical amounts computed at the U.S. federal statutory rate for each of the three years ending December 31, 2021 in the table below (in millions). 2021 2020 2019 Earnings before income taxes $ 111,686 $ 55,693 $ 102,696 Hypothetical income tax expense computed at the U.S. federal statutory rate $ 23,454 $ 11,696 $ 21,566 Dividends received deduction and tax-exempt interest (457 ) (448 ) (433 ) State income taxes, less U.S. federal income tax benefit (417 ) 858 494 U.S. income tax credits (1,860 ) (1,519 ) (942 ) Goodwill impairments — 1,977 20 Other differences, net 159 (124 ) 199 $ 20,879 $ 12,440 $ 20,904 Effective income tax rate 18.7 % 22.3 % 20.4 % |
Fair value measurements (Tables
Fair value measurements (Tables) | 12 Months Ended |
Dec. 31, 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 December 31, 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) December 31, 2021 Investments in fixed maturity securities: U.S. Treasury, U.S. government corporations and agencies $ 3,303 $ 3,303 $ 3,261 $ 42 $ — Foreign governments 10,994 10,994 10,286 708 — Corporate bonds 1,774 1,774 — 1,774 — Other 363 363 — 363 — Investments in equity securities 350,719 350,719 339,225 8 11,486 Investment in Kraft Heinz common stock 13,112 11,683 11,683 — — Loans and finance receivables 20,751 22,174 — 2,178 19,996 Derivative contract assets (1) 329 329 6 230 93 Derivative contract liabilities: Railroad, utilities and energy (1) 277 277 2 51 224 Equity index put options (1) 99 99 — — 99 Notes payable and other borrowings: Insurance and other 39,272 42,339 — 42,292 47 Railroad, utilities and energy 74,990 87,065 — 87,065 — 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) 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 assets and liabilities measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) for each of the three years ending December 31, 2021 follow (in millions). Balance at beginning of year Gains (losses) included in earnings Acquisitions, dispositions and settlements Transfers out of Level 3 Balance at December 31, Investments in equity securities: 2021 $ 8,978 $ 1,902 $ 1,100 $ (500 ) $ 11,480 2020 10,405 (1,426 ) — (1 ) 8,978 2019 1 404 10,000 — 10,405 Equity index put option contract liabilities: 2021 $ (1,065 ) $ 966 $ — $ 99 $ — 2020 (968 ) (159 ) 62 — (1,065 ) 2019 (2,452 ) 1,484 — — (968 ) |
Fair value assets and liabilities measured on recurring basis, unobservable inputs, additional information | Quantitative information as of December 31, 2021 for assets and liabilities measured and carried at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) follows (in millions). Fair Value Principal Valuation Techniques Unobservable Inputs Weighted Average Investments in equity securities: Preferred stock $ 10,864 Discounted cash flow Expected duration 7 years Discount for transferability restrictions and subordination 372 bps Common stock warrants 616 Warrant pricing model Expected duration 7 years Volatility 37% |
Common stock (Tables)
Common stock (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Equity [Abstract] | |
Changes in issued, treasury and outstanding Berkshire common stock | Changes in Berkshire’s issued, treasury and outstanding common stock during the three years ending December 31, 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 Balance December 31, 2018 742,213 (12,897 ) 729,316 1,373,558,983 (6,138,909 ) 1,367,420,074 Conversions of Class A common stock to Class B common stock and exercises of replacement stock options (22,906 ) — (22,906 ) 34,624,869 — 34,624,869 Treasury stock acquired — (4,440 ) (4,440 ) — (17,563,410 ) (17,563,410 ) Balance December 31, 2019 719,307 (17,337 ) 701,970 1,408,183,852 (23,702,319 ) 1,384,481,533 Conversions of Class A common stock to Class B common stock (40,784 ) — (40,784 ) 61,176,000 — 61,176,000 Treasury stock acquired — (17,255 ) (17,255 ) — (95,614,062 ) (95,614,062 ) Balance December 31, 2020 678,523 (34,592 ) 643,931 1,469,359,852 (119,316,381 ) 1,350,043,471 Conversions of Class A common stock to Class B common stock (12,622 ) — (12,622 ) 18,933,000 — 18,933,000 Treasury stock acquired — (14,196 ) (14,196 ) — (78,501,968 ) (78,501,968 ) Balance December 31, 2021 665,901 (48,788 ) 617,113 1,488,292,852 (197,818,349 ) 1,290,474,503 |
Revenues from contracts with _2
Revenues from contracts with customers (Tables) | 12 Months Ended |
Dec. 31, 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 each of the three years ended December 31, 2021 (in millions). Other revenues, which are not considered to be revenues from contracts with customers under GAAP, are primarily insurance premiums earned, interest, dividend and other investment income and leasing revenues. 2021 Manufacturing McLane Service and retailing BNSF Berkshire Hathaway Energy Insurance, Corporate and other Total Manufactured products: Industrial and commercial products $ 22,184 $ — $ 159 $ — $ — $ — $ 22,343 Building products 19,604 — — — — — 19,604 Consumer products 18,540 — — — — — 18,540 Grocery and convenience store distribution — 31,245 — — — — 31,245 Food and beverage distribution — 17,332 — — — — 17,332 Auto sales — — 9,966 — — — 9,966 Other retail and wholesale distribution 2,997 — 15,898 — — — 18,895 Service 1,486 751 4,123 23,120 5,583 — 35,063 Electricity and natural gas — — — — 18,264 — 18,264 Total 64,811 49,328 30,146 23,120 23,847 — 191,252 Other revenues 3,766 122 4,601 57 1,096 75,200 84,842 $ 68,577 $ 49,450 $ 34,747 $ 23,177 $ 24,943 $ 75,200 $ 276,094 2020 Manufactured products: Industrial and commercial products $ 20,772 $ — $ 192 $ — $ — $ — $ 20,964 Building products 15,943 — — — — — 15,943 Consumer products 14,757 — — — — — 14,757 Grocery and convenience store distribution — 30,795 — — — — 30,795 Food and beverage distribution — 15,368 — — — — 15,368 Auto sales — — 8,258 — — — 8,258 Other retail and wholesale distribution 2,452 — 12,470 — — — 14,922 Service 1,456 584 3,332 20,693 4,595 — 30,660 Electricity and natural gas — — — — 15,066 — 15,066 Total 55,380 46,747 24,252 20,693 19,661 — 166,733 Other revenues 3,598 93 3,859 57 1,353 69,817 78,777 $ 58,978 $ 46,840 $ 28,111 $ 20,750 $ 21,014 $ 69,817 $ 245,510 2019 Manufactured products: Industrial and commercial products $ 25,311 $ — $ 184 $ — $ — $ — $ 25,495 Building products 15,620 — — — — — 15,620 Consumer products 14,120 — — — — — 14,120 Grocery and convenience store distribution — 33,057 — — — — 33,057 Food and beverage distribution — 16,767 — — — — 16,767 Auto sales — — 8,481 — — — 8,481 Other retail and wholesale distribution 2,299 — 12,213 — — — 14,512 Service 1,642 539 4,062 23,302 4,096 — 33,641 Electricity and natural gas — — — — 14,819 — 14,819 Total 58,992 50,363 24,940 23,302 18,915 — 176,512 Other revenues 3,632 95 4,459 55 1,181 68,682 78,104 $ 62,624 $ 50,458 $ 29,399 $ 23,357 $ 20,096 $ 68,682 $ 254,616 |
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 December 31, 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 $ 2,607 $ 21,038 $ 23,645 Other sales and service contracts 1,411 2,236 3,647 |
Pension plans (Tables)
Pension plans (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Compensation And Retirement Disclosure [Abstract] | |
Schedule of net periodic pension expense | The components of our net periodic pension expense for each of the three years ending December 31, 2021 follow (in millions). 2021 2020 2019 Service cost $ 257 $ 235 $ 224 Interest cost 410 510 618 Expected return on plan assets (1,008 ) (955 ) (936 ) Amortization of actuarial losses and other 203 171 26 Net periodic pension expense $ (138 ) $ (39 ) $ (68 ) |
Schedule of changes in projected benefit obligations, changes in plan assets and net funded status | The funded status at year end 2021 and 2020 and reconciliations of the changes in PBOs and plan assets related to BHE’s pension plans and all other pension plans for each of the two years ending December 31, 2021 follow (in millions). 2021 2020 BHE Other Total BHE Other Total Benefit obligations PBO beginning of year $ 5,282 $ 15,147 $ 20,429 $ 4,898 $ 13,808 $ 18,706 Service cost 46 211 257 33 202 235 Interest cost 109 301 410 133 377 510 Benefits paid (214 ) (795 ) (1,009 ) (285 ) (709 ) (994 ) Settlements (185 ) (22 ) (207 ) (63 ) (12 ) (75 ) Actuarial (gains) losses and other (258 ) (830 ) (1,088 ) 566 1,481 2,047 PBO end of year $ 4,780 $ 14,012 $ 18,792 $ 5,282 $ 15,147 $ 20,429 Plan assets Plan assets beginning of year $ 5,158 $ 12,780 $ 17,938 $ 4,808 $ 11,688 $ 16,496 Employer contributions 41 124 165 69 127 196 Benefits paid (214 ) (795 ) (1,009 ) (285 ) (709 ) (994 ) Actual return on plan assets 382 1,401 1,783 554 1,820 2,374 Settlements (185 ) (22 ) (207 ) (63 ) (12 ) (75 ) Other (24 ) (26 ) (50 ) 75 (134 ) (59 ) Plan assets end of year $ 5,158 $ 13,462 $ 18,620 $ 5,158 $ 12,780 $ 17,938 Funded status – net (asset) liability $ (378 ) $ 550 $ 172 $ 124 $ 2,367 $ 2,491 |
Schedule of information for plans with PBOs in excess of plan assets | Information for plans with PBOs and ABOs in excess of plan assets as of December 31, 2021 and 2020 follows (in millions). 2021 2020 PBOs $ 9,643 $ 12,775 Plan assets 7,518 9,018 ABOs 9,111 10,875 Plan assets 7,429 7,820 |
Schedule of information for plans with ABOs in excess of plan assets | Information for plans with PBOs and ABOs in excess of plan assets as of December 31, 2021 and 2020 follows (in millions). 2021 2020 PBOs $ 9,643 $ 12,775 Plan assets 7,518 9,018 ABOs 9,111 10,875 Plan assets 7,429 7,820 |
Schedule of weighted average assumptions | Weighted average assumptions used in determining PBOs and net periodic pension expense follow. 2021 2020 2019 Discount rate applicable to PBOs 2.7 % 2.3 % 3.1 % Expected long-term rate of return on plan assets 6.1 6.2 6.4 Rate of compensation increase 2.6 2.6 2.5 Discount rate applicable to net periodic pension expense 2.4 3.1 4.0 |
Schedule of fair value measurements by major categories of plan assets | Fair value measurements of plan assets as of December 31, 2021 and 2020 follow (in millions). Fair Value Investment funds and partnerships Total Level 1 Level 2 Level 3 at net asset value December 31, 2021 Cash and cash equivalents $ 992 $ 901 $ 91 $ — $ — Equity securities 11,343 10,358 660 325 — Fixed maturity securities 3,422 2,226 1,168 28 — Investment funds and other 2,863 180 361 57 2,265 $ 18,620 $ 13,665 $ 2,280 $ 410 $ 2,265 December 31, 2020 Cash and cash equivalents $ 383 $ 243 $ 140 $ — $ — Equity securities 11,383 10,123 851 409 — Fixed maturity securities 3,173 2,214 926 33 — Investment funds and other 2,999 198 398 56 2,347 $ 17,938 $ 12,778 $ 2,315 $ 498 $ 2,347 |
Schedule of pension plan amounts recognized In accumulated other comprehensive income | A reconciliation of the pre-tax accumulated other comprehensive income (loss) related to defined benefit pension plans for each of the two years ending December 31, 2021 follows (in millions). 2021 2020 Balance beginning of year $ (2,251 ) $ (1,896 ) Amount included in net periodic pension expense 170 141 Actuarial gains (losses) and other 1,596 (496 ) Balance end of year $ (485 ) $ (2,251 ) |
Accumulated other comprehensi_2
Accumulated other comprehensive income (Tables) | 12 Months Ended |
Dec. 31, 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 each of the three years ending December 31, 2021 follows (in millions). Unrealized appreciation of fixed maturity securities, net Foreign currency translation Defined benefit pension plans Other Accumulated other comprehensive income Balance December 31, 2018 $ 370 $ (4,603 ) $ (816 ) $ 34 $ (5,015 ) Other comprehensive income 160 257 (644 ) (48 ) (275 ) Reclassifications into net earnings (49 ) — 91 5 47 Balance December 31, 2019 481 (4,346 ) (1,369 ) (9 ) (5,243 ) Other comprehensive income 78 1,264 (385 ) (52 ) 905 Reclassifications into net earnings (23 ) — 109 9 95 Balance December 31, 2020 536 (3,082 ) (1,645 ) (52 ) (4,243 ) Other comprehensive income (123 ) (1,021 ) 1,163 80 99 Reclassifications into net earnings (44 ) 11 135 15 117 Balance December 31, 2021 $ 369 $ (4,092 ) $ (347 ) $ 43 $ (4,027 ) |
Business segment data (Tables)
Business segment data (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Segment Reporting [Abstract] | |
Schedule of revenues, earnings before income taxes, interest expense, income tax expense, capital expenditures, depreciation, goodwill and identifiable assets by segment | A disaggregation of our consolidated data for each of the three most recent years is presented as follows (in millions). Revenues Earnings before income taxes 2021 2020 2019 2021 2020 2019 Operating Businesses Insurance: Underwriting: GEICO $ 37,706 $ 35,093 $ 35,572 $ 1,259 $ 3,428 $ 1,506 Berkshire Hathaway Primary Group 11,575 9,615 9,165 607 110 383 Berkshire Hathaway Reinsurance Group 20,197 18,693 16,341 (930 ) (2,700 ) (1,472 ) Insurance underwriting 69,478 63,401 61,078 936 838 417 Investment income 5,662 5,960 6,615 5,649 5,949 6,600 Total insurance 75,140 69,361 67,693 6,585 6,787 7,017 BNSF 23,282 20,869 23,515 7,861 6,792 7,250 BHE 24,987 21,031 20,114 3,184 2,479 2,618 Manufacturing 68,730 59,079 62,730 9,841 8,010 9,522 McLane 49,450 46,840 50,458 230 251 288 Service and retailing 34,832 28,178 29,487 4,481 2,628 2,555 276,421 245,358 253,997 32,182 26,947 29,250 Reconciliation to consolidated amount Investment and derivative gains (losses) — — — 78,542 40,746 72,607 Interest expense, not allocated to segments — — — (455 ) (483 ) (416 ) Equity method investments — — — 995 726 1,176 Goodwill and intangible asset impairments — — — — (10,671 ) (96 ) Corporate, eliminations and other (327 ) 152 619 422 (1,572 ) 175 $ 276,094 $ 245,510 $ 254,616 $ 111,686 $ 55,693 $ 102,696 Interest expense Income tax expense 2021 2020 2019 2021 2020 2019 Operating Businesses Insurance $ — $ — $ — $ 1,050 $ 1,089 $ 1,166 BNSF 1,032 1,037 1,070 1,871 1,631 1,769 BHE 2,054 1,941 1,835 (1,177 ) (1,010 ) (526 ) Manufacturing 704 737 752 2,193 1,795 2,253 McLane — — — 61 71 71 Service and retailing 38 61 86 1,086 669 603 3,828 3,776 3,743 5,084 4,245 5,336 Reconciliation to consolidated amount Investment and derivative gains — — — 16,025 8,855 15,159 Interest expense, not allocated to segments 455 483 416 (96 ) (102 ) (88 ) Equity method investments — — — 106 57 148 Corporate, eliminations and other (111 ) (176 ) (198 ) (240 ) (615 ) 349 $ 4,172 $ 4,083 $ 3,961 $ 20,879 $ 12,440 $ 20,904 Notes to Consolidated Financial Statements (Continued) (2 5 ) Business segment data (Continued) Capital expenditures Depreciation of tangible assets 2021 2020 2019 2021 2020 2019 Operating Businesses Insurance $ 62 $ 50 $ 108 $ 72 $ 74 $ 82 BNSF 2,910 3,063 3,608 2,406 2,423 2,350 BHE 6,611 6,765 7,364 3,584 3,376 2,947 Manufacturing 2,100 2,133 2,981 2,037 2,026 1,951 McLane 106 98 158 189 204 225 Service and retailing 1,487 903 1,760 1,177 1,216 1,192 $ 13,276 $ 13,012 $ 15,979 $ 9,465 $ 9,319 $ 8,747 Goodwill at year-end Identifiable assets at year-end 2021 2020 2019 2021 2020 2019 Operating Businesses Insurance $ 15,181 $ 15,224 $ 15,289 $ 482,813 $ 399,169 $ 364,550 BNSF 14,852 14,851 14,851 76,586 73,809 73,699 BHE 11,906 11,763 9,979 112,117 109,286 88,651 Manufacturing 25,463 25,512 34,800 107,231 104,318 104,437 McLane 232 232 734 6,841 6,771 6,872 Service and retailing 6,241 6,152 6,229 28,221 26,173 26,494 $ 73,875 $ 73,734 $ 81,882 813,809 719,526 664,703 Reconciliation to consolidated amount Corporate and other 71,100 80,469 71,144 Goodwill 73,875 73,734 81,882 $ 958,784 $ 873,729 $ 817,729 |
Schedule of premiums written and earned | Property/casualty and life/health insurance premiums written and earned are summarized below (in millions). Property/Casualty Life/Health 2021 2020 2019 2021 2020 2019 Premiums Written: Direct $ 53,829 $ 47,838 $ 47,578 $ 649 $ 510 $ 839 Assumed 12,461 11,533 10,214 5,685 5,960 5,046 Ceded (1,015 ) (898 ) (821 ) (40 ) (42 ) (45 ) $ 65,275 $ 58,473 $ 56,971 $ 6,294 $ 6,428 $ 5,840 Premiums Earned: Direct $ 52,139 $ 46,418 $ 46,540 $ 649 $ 510 $ 839 Assumed 12,072 11,449 9,643 5,713 5,973 4,952 Ceded (1,054 ) (907 ) (851 ) (41 ) (42 ) (45 ) $ 63,157 $ 56,960 $ 55,332 $ 6,321 $ 6,441 $ 5,746 |
Schedule of insurance premiums written by geographic region | Insurance premiums written by geographic region (based upon the domicile of the insured or reinsured) are summarized below (in millions). Property/Casualty Life/Health 2021 2020 2019 2021 2020 2019 United States $ 55,451 $ 50,250 $ 50,529 $ 2,161 $ 2,820 $ 2,553 Western Europe 4,613 3,751 2,535 1,298 1,120 908 Asia Pacific 3,822 3,410 3,114 2,030 1,652 1,582 All other 1,389 1,062 793 805 836 797 $ 65,275 $ 58,473 $ 56,971 $ 6,294 $ 6,428 $ 5,840 |
Significant accounting polici_3
Significant accounting policies and practices - Narrative (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Jan. 01, 2020 | Jan. 01, 2019 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Operating leases, right of use assets | $ 5,091 | $ 5,579 | ||
Operating lease liabilities | $ 4,991 | 5,469 | ||
Voting interests of investee | 20.00% | |||
Percentage of LIFO Inventory | 31.00% | |||
Excess of current or replacement costs over costs determined under LIFO | $ 1,900 | 1,100 | ||
Retained earnings | 534,421 | 444,626 | ||
Other Assets [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Unamortized balances of deferred policy acquisition costs | $ 3,400 | $ 3,250 | ||
Maximum [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Trade receivables, insurance premium receivables and other receivables collection term | 1 year | |||
Insurance interest rate assumption | 7.00% | |||
Maximum [Member] | Buildings and improvements [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Estimated useful life (in years) | 50 years | |||
Maximum [Member] | Machinery and equipment [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Estimated useful life (in years) | 25 years | |||
Maximum [Member] | Furniture, fixtures and other [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Estimated useful life (in years) | 15 years | |||
Maximum [Member] | Track structure and other roadway [Member] | Railroad [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Estimated useful life (in years) | 100 years | |||
Maximum [Member] | Locomotives, freight cars and other equipment [Member] | Railroad [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Estimated useful life (in years) | 43 years | |||
Maximum [Member] | Utility generation, transmission and distribution systems [Member] | Utilities and Energy [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Estimated useful life (in years) | 80 years | |||
Maximum [Member] | Interstate natural gas pipeline assets [Member] | Utilities and Energy [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Estimated useful life (in years) | 80 years | |||
Maximum [Member] | Independent power plants and other assets [Member] | Utilities and Energy [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Estimated useful life (in years) | 50 years | |||
Maximum [Member] | Equipment held for lease [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Estimated useful life (in years) | 35 years | |||
Minimum [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Insurance interest rate assumption | 3.00% | |||
Minimum [Member] | Buildings and improvements [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Estimated useful life (in years) | 5 years | |||
Minimum [Member] | Machinery and equipment [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Estimated useful life (in years) | 3 years | |||
Minimum [Member] | Furniture, fixtures and other [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Estimated useful life (in years) | 3 years | |||
Minimum [Member] | Track structure and other roadway [Member] | Railroad [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Estimated useful life (in years) | 10 years | |||
Minimum [Member] | Locomotives, freight cars and other equipment [Member] | Railroad [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Estimated useful life (in years) | 6 years | |||
Minimum [Member] | Utility generation, transmission and distribution systems [Member] | Utilities and Energy [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Estimated useful life (in years) | 5 years | |||
Minimum [Member] | Interstate natural gas pipeline assets [Member] | Utilities and Energy [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Estimated useful life (in years) | 3 years | |||
Minimum [Member] | Independent power plants and other assets [Member] | Utilities and Energy [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Estimated useful life (in years) | 2 years | |||
Minimum [Member] | Equipment held for lease [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Estimated useful life (in years) | 3 years | |||
Difference Between Lease Guidance in Effect Before and After Topic 842 [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Operating leases, right of use assets | $ 6,200 | |||
Operating lease liabilities | 5,900 | |||
ASC 842 [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, 2019 | |||
ASC 842 [Member] | Difference Between Lease Guidance in Effect Before and After Topic 842 [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Other assets | $ (300) | |||
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) |
Business acquisitions - Narrati
Business acquisitions - Narrative (Detail) - Berkshire Hathaway Energy [Member] - Dominion Energy, Inc. [Member] - USD ($) $ in Billions | Nov. 01, 2020 | Dec. 31, 2021 |
Cove Point [Member] | ||
Business Acquisition [Line Items] | ||
Variable interest entity, ownership percentage | 25.00% | |
General Partner [Member] | Cove Point [Member] | ||
Business Acquisition [Line Items] | ||
Variable interest entity, ownership percentage | 100.00% | |
Limited Partner [Member] | Cove Point [Member] | ||
Business Acquisition [Line Items] | ||
Variable interest entity, ownership percentage | 25.00% | |
First Acquisition Agreement [Member] | ||
Business Acquisition [Line Items] | ||
Business acquisition, date of completed | Nov. 1, 2020 | |
Business acquisition definitive agreement, month and year | 2020-07 | |
Payment for acquisition of business in cash after post-closing adjustments | $ 2.5 | |
Second Acquisition Agreement [Member] | ||
Business Acquisition [Line Items] | ||
Business acquisition definitive agreement, month and year | 2020-10 | |
Termination of agreement, month and year | 2021-07 |
Business Acquisitions - Summary
Business Acquisitions - Summary of preliminary fair values of identified assets acquired and liabilities assumed and residual goodwill (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | [1] | Dec. 31, 2020 | [1] | Nov. 01, 2020 | Dec. 31, 2019 |
Business Acquisition [Line Items] | ||||||
Goodwill | $ 73,875 | $ 73,734 | $ 81,882 | |||
Dominions Natural Gas Transmission And Storage Business | ||||||
Business Acquisition [Line Items] | ||||||
Property, plant and equipment | $ 9,264 | |||||
Goodwill | 1,741 | |||||
Other | 2,398 | |||||
Assets acquired | 13,403 | |||||
Notes payable and other borrowings | 5,615 | |||||
Other | 1,358 | |||||
Liabilities assumed | 6,973 | |||||
Noncontrolling interests | 3,916 | |||||
Net assets | $ 2,514 | |||||
[1] | Net of accumulated goodwill impairments of |
Investments in fixed maturity_3
Investments in fixed maturity securities (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Summary of Investment Holdings [Line Items] | ||
Amortized cost of fixed maturity securities | $ 15,964 | $ 19,724 |
Unrealized gains on fixed maturity securities | 510 | 695 |
Unrealized losses on fixed maturity securities | (40) | (9) |
Fair value of fixed maturity securities | 16,434 | 20,410 |
U.S. Treasury, U.S. government corporations and agencies [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Amortized cost of fixed maturity securities | 3,286 | 3,348 |
Unrealized gains on fixed maturity securities | 22 | 55 |
Unrealized losses on fixed maturity securities | (5) | |
Fair value of fixed maturity securities | 3,303 | 3,403 |
Foreign governments [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Amortized cost of fixed maturity securities | 10,998 | 11,233 |
Unrealized gains on fixed maturity securities | 29 | 110 |
Unrealized losses on fixed maturity securities | (33) | (5) |
Fair value of fixed maturity securities | 10,994 | 11,338 |
Corporate bonds [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Amortized cost of fixed maturity securities | 1,363 | 4,729 |
Unrealized gains on fixed maturity securities | 412 | 464 |
Unrealized losses on fixed maturity securities | (1) | (2) |
Fair value of fixed maturity securities | 1,774 | 5,191 |
Other [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Amortized cost of fixed maturity securities | 317 | 414 |
Unrealized gains on fixed maturity securities | 47 | 66 |
Unrealized losses on fixed maturity securities | (1) | (2) |
Fair value of fixed maturity securities | $ 363 | $ 478 |
Investments in fixed maturity_4
Investments in fixed maturity securities - Narrative (Detail) | Dec. 31, 2021 |
Foreign governments [Member] | AA or Higher Credit Rating [Member] | |
Summary of Investment Holdings [Line Items] | |
Percentage of fixed maturity investments by credit rating | 93.00% |
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 | Dec. 31, 2021 | Dec. 31, 2020 |
Summary of Investment Holdings [Line Items] | ||
Due in one year or less - amortized cost | $ 9,171 | |
Due after one year through five years - amortized cost | 6,044 | |
Due after five years through ten years - amortized cost | 307 | |
Due after ten years - amortized cost | 207 | |
Amortized cost of fixed maturity securities | 15,964 | $ 19,724 |
Due in one year or less - fair value | 9,165 | |
Due after one year through five years - fair value | 6,086 | |
Due after five years through ten years - fair value | 559 | |
Due after ten years - fair value | 347 | |
Fair value of fixed maturity securities | 16,434 | $ 20,410 |
Mortgage-backed securities [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Amortized cost of mortgage-backed securities | 235 | |
Fair value of mortgage-backed securities | $ 277 |
Investments in equity securit_3
Investments in equity securities (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | ||
Summary of Investment Holdings [Line Items] | ||||
Cost Basis | $ 104,605 | $ 108,620 | ||
Net Unrealized Gains | 246,114 | 172,550 | ||
Fair Value | 350,719 | [1] | 281,170 | [2] |
Banks, insurance and finance [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Cost Basis | 26,822 | 26,312 | ||
Net Unrealized Gains | 62,236 | 40,167 | ||
Fair Value | 89,058 | 66,479 | ||
Consumer products [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Cost Basis | 36,076 | 34,747 | ||
Net Unrealized Gains | 154,945 | 111,583 | ||
Fair Value | 191,021 | 146,330 | ||
Commercial, industrial and other [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Cost Basis | 41,707 | 47,561 | ||
Net Unrealized Gains | 28,933 | 20,800 | ||
Fair Value | $ 70,640 | $ 68,361 | ||
[1] | Approximately 73% of the aggregate fair value was concentrated in four companies (American Express Company – $24.8 billion; Apple Inc. – $161.2 billion; Bank of America Corporation – $46.0 billion and The Coca-Cola Company – $23.7 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 | 12 Months Ended | |||
Dec. 31, 2021USD ($)Company | Dec. 31, 2020USD ($)Company | |||
Summary of Investment Holdings [Line Items] | ||||
Fair value of investments | $ 350,719 | [1] | $ 281,170 | [2] |
American Express Company [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Fair value of investments | 24,800 | 18,300 | ||
Apple Inc. [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Fair value of investments | 161,200 | 120,400 | ||
Bank of America Corporation [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Fair value of investments | 46,000 | 31,300 | ||
The Coca-Cola Company [Member] | ||||
Summary of Investment Holdings [Line Items] | ||||
Fair value of investments | $ 23,700 | $ 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 | 73.00% | 68.00% | ||
Number of companies in concentration percentage | Company | 4 | 4 | ||
[1] | Approximately 73% of the aggregate fair value was concentrated in four companies (American Express Company – $24.8 billion; Apple Inc. – $161.2 billion; Bank of America Corporation – $46.0 billion and The Coca-Cola Company – $23.7 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 – $21.9 billion). |
Investments in equity securit_5
Investments in equity securities - Narrative (Detail) - Investment Commitment [Member] - USD ($) $ / shares in Units, $ in Billions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2019 | |
Summary of Investment Holdings [Line Items] | ||
Investment commitment description | Investments in commercial, industrial and other equity securities include our investments in Occidental Corporation (“Occidental”), which we acquired in 2019. These investments were acquired for a total of $10 billion and consist of Occidental Cumulative Perpetual Preferred Stock with an aggregate liquidation value of $10 billion and warrants, which currently permit us 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 and is mandatorily redeemable under certain specified events. 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 | 83,860,000 | |
Exercise price for warrants, per share | $ 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% | |
Occidental Corporation [Member] | Cumulative Perpetual Preferred Stock and Warrants [Member] | ||
Summary of Investment Holdings [Line Items] | ||
Investment commitment amount | $ 10 |
Equity method investments - Nar
Equity method investments - Narrative (Detail) | 12 Months Ended | ||
Dec. 31, 2021USD ($)StoreLocation | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
Schedule of Equity Method Investments [Line Items] | |||
Equity method investment ownership percentage | 20.00% | ||
Equity method earnings | $ 995,000,000 | $ 726,000,000 | $ 1,176,000,000 |
Sales | 276,094,000,000 | 245,510,000,000 | 254,616,000,000 |
Berkshire Hathaway Inc. (Parent) [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Equity method earnings | 269,000,000 | 95,000,000 | 493,000,000 |
Equity method investments, carrying value | 13,112,000,000 | 13,336,000,000 | |
Sales | $ 88,658,000,000 | 43,911,000,000 | 81,988,000,000 |
Pilot Travel Centers LLC [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Number of retail | Store | 800 | ||
Sales | $ 45,000,000,000 | ||
Pilot Travel Centers LLC [Member] | U.S. States [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Number of places retail locations located | Location | 44 | ||
Pilot Travel Centers LLC [Member] | Canadian Provinces [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Number of places retail locations located | Location | 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] | |||
Equity method investment ownership percentage | 26.60% | ||
Equity method earnings | $ 269,000,000 | 95,000,000 | 493,000,000 |
Impairment charges on equity investment | 350,000,000 | 850,000,000 | 450,000,000 |
Common stock dividends received | 521,000,000 | 521,000,000 | 521,000,000 |
Equity method investments, fair value | 11,700,000,000 | 11,300,000,000 | |
Equity method investments, carrying value | $ 13,100,000,000 | 13,300,000,000 | |
Difference between carrying value and fair value percentage | 11.00% | ||
Berkadia Commercial Mortgage LLC, Pilot Travel Centers LLC, and Electric Transmission Texas, LLC [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Equity method earnings | $ 726,000,000 | 631,000,000 | $ 683,000,000 |
Equity method investments, carrying value | 4,300,000,000 | $ 4,000,000,000 | |
Equity method investment distributions from other investees | $ 1,200,000,000 | ||
Berkadia Commercial Mortgage LLC [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Equity method investment ownership percentage | 50.00% | ||
Commercial paper outstanding | $ 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 | ||
Berkadia Commercial Mortgage LLC [Member] | Jefferies Financial Group Inc. [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Equity method investment ownership percentage | 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% | ||
Iroquois [Member] | Berkshire Hathaway Energy Company Subsidiary [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Equity method investment ownership percentage | 50.00% |
Equity method investments - Una
Equity method investments - Unaudited financial information (Detail) - USD ($) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2021 | Dec. 25, 2021 | Dec. 31, 2020 | Dec. 26, 2020 | Dec. 31, 2019 | Dec. 28, 2019 | |
Schedule of Equity Method Investments [Line Items] | ||||||
Assets | $ 958,784 | $ 873,729 | $ 817,729 | |||
Sales | $ 276,094 | $ 245,510 | $ 254,616 | |||
The Kraft Heinz Company [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Assets | $ 93,394 | $ 99,830 | ||||
Liabilities | 43,942 | 49,587 | ||||
Sales | 26,042 | 26,185 | $ 24,977 | |||
Net earnings attributable to Kraft Heinz common shareholders | $ 1,012 | $ 356 | $ 1,935 |
Investment and derivative con_3
Investment and derivative contract gains/losses (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Investments Debt And Equity Securities [Abstract] | |||
Change in unrealized investment gains (losses) during the year on securities held at the end of the year | $ 76,375 | $ 54,951 | $ 69,581 |
Equity securities - Investment gains (losses) during the year on securities sold | 997 | (14,036) | 1,585 |
Equity securities - Investment gains (losses), total | 77,372 | 40,915 | 71,166 |
Fixed maturity securities - Gross realized gains | 85 | 56 | 87 |
Fixed maturity securities - Gross realized losses | (29) | (27) | (25) |
Other | 148 | (39) | (105) |
Investment gains (losses) | 77,576 | 40,905 | 71,123 |
Derivative contract gains (losses) | 966 | (159) | 1,484 |
Investment and derivative contract gains (losses) | $ 78,542 | $ 40,746 | $ 72,607 |
Investment and derivative con_4
Investment and derivative contract gains/losses - Narrative (Detail) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
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 | $ 15,849 | $ 38,756 | $ 14,336 |
Taxable gains (loss) on sales of equity securities | $ 3,600 | $ 6,200 | $ 3,200 |
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] | |||
Percentage of contracts comprising of notional value | 63 | ||
Derivative maturity period | first quarter of 2022 | ||
Premiums received at contract inception dates | $ 1,300 |
Derivative contract (Detail)
Derivative contract (Detail) - Not Designated as Hedging Instrument [Member] - Equity Index Put Options [Member] - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Derivative [Line Items] | ||
Balance sheet liabilities - at fair value | $ 99 | $ 1,065 |
Notional value | $ 6,992 | 10,991 |
Intrinsic value | $ 727 | |
Weighted average remaining life (in years) | 6 months | 1 year 2 months 12 days |
Loans and finance receivables_2
Loans and finance receivables (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Receivables [Abstract] | ||||
Loans and finance receivables before allowances and discounts | $ 22,065 | $ 20,436 | ||
Allowances for credit losses | (765) | (712) | $ (167) | $ (177) |
Unamortized acquisition discounts and points | (549) | (523) | ||
Loans and finance receivables | $ 20,751 | $ 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 | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Allowance For Credit Loss [Abstract] | |||
Balance at beginning of year | $ 712 | $ 167 | $ 177 |
Adoption of ASC 326 | 486 | ||
Provision for credit losses | 88 | 177 | 125 |
Charge-offs, net of recoveries | (35) | (118) | (135) |
Balance at December 31 | $ 765 | $ 712 | $ 167 |
Loans and finance receivables_3
Loans and finance receivables - Narrative (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 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 | |
Seritage Growth Properties and Lee Enterprises, Inc. [Member] | Term Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Term loan facility amount | $ 1,900,000,000 | $ 2,100,000,000 |
Loan prepayment | $ 160,000,000 | |
Option to extend expiration date of term loan | Jul. 31, 2025 | |
Reduction in outstanding principal to extend loan maturity | $ 800,000,000 | |
Lee Enterprises, Inc. [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loan agreements maturity year | 2045 | |
Manufactured and Site-built Home Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Percent of manufactured and site-built 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 | Dec. 31, 2021 | Dec. 31, 2020 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and financing receivables by origination year, Total | $ 22,065 | $ 20,436 |
Manufactured Housing Loan Balances [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and financing receivables by origination year, 2021 | 4,902 | |
Loans and financing receivables by origination year, 2020 | 3,169 | |
Loans and financing receivables by origination year, 2019 | 2,244 | |
Loans and financing receivables by origination year, 2018 | 1,701 | |
Loans and financing receivables by origination year, 2017 | 1,264 | |
Loans and financing receivables by origination year, Prior | 6,882 | |
Loans and financing receivables by origination year, Total | 20,162 | |
Performing [Member] | Manufactured Housing Loan Balances [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and financing receivables by origination year, 2021 | 4,898 | |
Loans and financing receivables by origination year, 2020 | 3,164 | |
Loans and financing receivables by origination year, 2019 | 2,238 | |
Loans and financing receivables by origination year, 2018 | 1,694 | |
Loans and financing receivables by origination year, 2017 | 1,259 | |
Loans and financing receivables by origination year, Prior | 6,842 | |
Loans and financing receivables by origination year, Total | 20,095 | |
Non-Performing [Member] | Manufactured Housing Loan Balances [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and financing receivables by origination year, 2021 | 4 | |
Loans and financing receivables by origination year, 2020 | 5 | |
Loans and financing receivables by origination year, 2019 | 6 | |
Loans and financing receivables by origination year, 2018 | 7 | |
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 | $ 67 |
Other receivables (Detail)
Other receivables (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Insurance and Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Insurance premiums receivable | $ 15,050 | $ 14,025 |
Reinsurance recoverables | 4,900 | 4,805 |
Trade receivables | 12,971 | 11,521 |
Other | 3,146 | 2,637 |
Allowances for credit losses | (679) | (678) |
Other receivables | 35,388 | 32,310 |
Railroad, Utilities and Energy [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Trade receivables | 3,678 | 3,235 |
Other | 650 | 438 |
Allowances for credit losses | (151) | (131) |
Receivables | $ 4,177 | $ 3,542 |
Other receivables - Narrative (
Other receivables - Narrative (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Receivables [Abstract] | |||
Provisions for credit losses on receivables | $ 441 | $ 564 | $ 363 |
Charge-offs, net of recoveries | $ 420 | $ 401 | $ 350 |
Inventories (Detail)
Inventories (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Inventory Disclosure [Abstract] | ||
Raw materials | $ 5,743 | $ 4,821 |
Work in process and other | 3,192 | 2,541 |
Finished manufactured goods | 4,530 | 4,412 |
Goods acquired for resale | 7,489 | 7,434 |
Total inventory | $ 20,954 | $ 19,208 |
Property, plant and equipment (
Property, plant and equipment (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Insurance and Other [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | $ 44,773 | $ 43,817 |
Property, plant and equipment, accumulated depreciation | (23,939) | (22,617) |
Total property, plant and equipment, net | 20,834 | 21,200 |
Insurance and Other [Member] | Land, buildings and improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 14,070 | 13,799 |
Insurance and Other [Member] | Machinery and equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 26,063 | 25,488 |
Insurance and Other [Member] | Furniture, fixtures and other [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 4,640 | 4,530 |
Railroad [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 80,692 | 78,263 |
Property, plant and equipment, accumulated depreciation | (14,978) | (13,175) |
Total property, plant and equipment, net | 65,714 | 65,088 |
Railroad [Member] | Land, track structure and other roadway [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 65,843 | 63,824 |
Railroad [Member] | Locomotives, freight cars and other equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 13,822 | 13,523 |
Railroad [Member] | Construction in progress [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 1,027 | 916 |
Utilities and Energy [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 125,537 | 119,376 |
Property, plant and equipment, accumulated depreciation | (35,721) | (33,248) |
Total property, plant and equipment, net | 89,816 | 86,128 |
Utilities and Energy [Member] | Utility generation, transmission and distribution systems [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 90,223 | 86,730 |
Utilities and Energy [Member] | Interstate natural gas pipeline assets [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 17,423 | 16,667 |
Utilities and Energy [Member] | Independent power plants and other assets [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 13,695 | 12,671 |
Utilities and Energy [Member] | Construction in progress [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 4,196 | 3,308 |
Railroad, Utilities and Energy [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property, plant and equipment, net | $ 155,530 | $ 151,216 |
Property, plant and equipment -
Property, plant and equipment - Depreciation expense (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Property, Plant and Equipment [Line Items] | |||
Depreciation expense | $ 8,308 | $ 8,119 | $ 7,566 |
Insurance and Other [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Depreciation expense | 2,318 | 2,320 | 2,269 |
Railroad, Utilities and Energy [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Depreciation expense | $ 5,990 | $ 5,799 | $ 5,297 |
Equipment held for lease (Detai
Equipment held for lease (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Property Subject to or Available for Operating Lease [Line Items] | ||
Equipment held for lease, gross | $ 23,735 | $ 22,474 |
Equipment held for lease, accumulated depreciation | (8,817) | (7,873) |
Equipment held for lease, net | 14,918 | 14,601 |
Railcars [Member] | ||
Property Subject to or Available for Operating Lease [Line Items] | ||
Equipment held for lease, gross | 9,448 | 9,402 |
Aircraft [Member] | ||
Property Subject to or Available for Operating Lease [Line Items] | ||
Equipment held for lease, gross | 9,234 | 8,204 |
Other [Member] | ||
Property Subject to or Available for Operating Lease [Line Items] | ||
Equipment held for lease, gross | $ 5,053 | $ 4,868 |
Equipment held for lease - Narr
Equipment held for lease - Narrative (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Leases [Abstract] | |||
Depreciation expense for equipment held for lease | $ 1,158 | $ 1,200 | $ 1,181 |
Equipment held for lease - Summ
Equipment held for lease - Summary of fixed and variable operating lease revenues (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Operating Leases Lease Income [Abstract] | |||
Fixed lease revenue | $ 4,482 | $ 4,262 | $ 4,415 |
Variable lease revenue | 1,506 | 947 | 1,441 |
Total | $ 5,988 | $ 5,209 | $ 5,856 |
Equipment held for lease - Su_2
Equipment held for lease - Summary of remaining operating lease receipts (Detail) $ in Millions | Dec. 31, 2021USD ($) |
Lessor Operating Lease Payments Fiscal Year Maturity [Abstract] | |
2022 | $ 2,922 |
2023 | 2,233 |
2024 | 1,623 |
2025 | 1,009 |
2026 | 536 |
Thereafter | 392 |
Total | $ 8,715 |
Leases - Narrative (Detail)
Leases - Narrative (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Leases [Abstract] | ||
Operating leases, right of use assets | $ 5,091 | $ 5,579 |
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] | Other | Other |
Operating lease liabilities | $ 4,991 | $ 5,469 |
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration] | Accounts payable, accruals and other liabilities | Accounts payable, accruals and other liabilities |
Weighted average remaining lease term | 7 years 2 months 12 days | 7 years 3 months 18 days |
Weighted average discount rate used to measure lease liabilities | 3.50% | 3.60% |
Leases - Summary of remaining o
Leases - Summary of remaining operating lease payments (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Operating Lease Liabilities, Payments Due [Abstract] | ||
Year 1 | $ 1,238 | $ 1,342 |
Year 2 | 1,038 | 1,111 |
Year 3 | 835 | 905 |
Year 4 | 631 | 725 |
Year 5 | 418 | 544 |
Thereafter | 1,571 | 1,691 |
Total lease payments | 5,731 | 6,318 |
Amount representing interest | (740) | (849) |
Lease liabilities | $ 4,991 | $ 5,469 |
Leases - Components of operatin
Leases - Components of operating lease costs (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Lease Cost [Abstract] | |||
Operating lease cost | $ 1,426 | $ 1,413 | $ 1,459 |
Short-term lease cost | 154 | 145 | 178 |
Variable lease cost | 223 | 228 | 276 |
Sublease income | (10) | (10) | (24) |
Total lease cost | $ 1,793 | $ 1,776 | $ 1,889 |
Goodwill and other intangible_3
Goodwill and other intangible assets - Goodwill (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||
Jun. 30, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | |||
Goodwill And Intangible Assets Disclosure [Abstract] | |||||
Balance at beginning of year | $ 73,734 | [1] | $ 81,882 | ||
Business acquisitions | 353 | 1,758 | |||
Impairment charges | $ (10,000) | (10,033) | |||
Other, including foreign currency translation | (212) | 127 | |||
Balance at end of year | [1] | $ 73,875 | $ 73,734 | ||
[1] | Net of accumulated goodwill impairments of |
Goodwill and other intangible_4
Goodwill and other intangible assets - Goodwill (Parenthetical) (Detail) - USD ($) $ in Billions | Dec. 31, 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 - Narrative (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Goodwill [Line Items] | ||||
Pre tax goodwill impairment | $ 10,000 | $ 10,033 | ||
Pre tax intangible assets impairment charges | 638 | |||
Intangible asset amortization expense | $ 1,252 | 1,277 | $ 1,317 | |
Estimated amortization expense - 2022 | 1,189 | |||
Estimated amortization expense - 2023 | 1,120 | |||
Estimated amortization expense - 2024 | 1,023 | |||
Estimated amortization expense - 2025 | 939 | |||
Estimated amortization expense - 2026 | 846 | |||
Intangible assets with indefinite lives, excluding goodwill | $ 18,500 | $ 18,300 | ||
PCC [Member] | ||||
Goodwill [Line Items] | ||||
Pre tax impairment charges | 10,000 | |||
Goodwill and indefinite-lived intangible assets | $ 31,000 |
Goodwill and other intangible_6
Goodwill and other intangible assets - Intangible assets (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Insurance and Other [Member] | ||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | $ 40,664 | $ 40,685 |
Accumulated amortization | 12,178 | 11,223 |
Net carrying value | 28,486 | 29,462 |
Railroad, Utilities and Energy [Member] | ||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 1,693 | 1,681 |
Accumulated amortization | 542 | 459 |
Net carrying value | 1,151 | 1,222 |
Trademarks and trade names [Member] | Insurance and Other [Member] | ||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 5,176 | 5,206 |
Accumulated amortization | 802 | 779 |
Net carrying value | 4,374 | 4,427 |
Customer relationships [Member] | Insurance and Other [Member] | ||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 27,335 | 27,374 |
Accumulated amortization | 6,450 | 5,756 |
Net carrying value | 20,885 | 21,618 |
Customer relationships [Member] | Railroad, Utilities and Energy [Member] | ||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 678 | 678 |
Accumulated amortization | 396 | 361 |
Net carrying value | 282 | 317 |
Other intangible assets [Member] | Insurance and Other [Member] | ||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 3,390 | 3,339 |
Accumulated amortization | 1,442 | 1,375 |
Net carrying value | 1,948 | 1,964 |
Trademarks, Trade Names and Other [Member] | Railroad, Utilities and Energy [Member] | ||
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 1,015 | 1,003 |
Accumulated amortization | 146 | 98 |
Net carrying value | 869 | 905 |
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 | 3,484 | 3,313 |
Net carrying value | $ 1,279 | $ 1,453 |
Supplemental cash flow inform_3
Supplemental cash flow information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Supplemental Cash Flow Information [Line Items] | |||
Cash paid during the period for income taxes | $ 5,412 | $ 5,001 | $ 5,415 |
Non-cash investing and financing activities: | |||
Liabilities assumed in connection with business acquisitions | 102 | 6,981 | 766 |
Operating lease liabilities arising from obtaining right-of-use assets | 687 | 729 | 782 |
Insurance and Other [Member] | |||
Supplemental Cash Flow Information [Line Items] | |||
Cash paid during the period for interest | 1,227 | 1,001 | 1,011 |
Railroad, Utilities and Energy [Member] | |||
Supplemental Cash Flow Information [Line Items] | |||
Cash paid during the period for interest | $ 3,162 | $ 3,006 | $ 2,879 |
Dividend restrictions - Insur_2
Dividend restrictions - Insurance subsidiaries (Detail) - USD ($) $ in Billions | Dec. 31, 2021 | Dec. 31, 2020 |
Statutory Accounting Practices [Line Items] | ||
Investments in fixed maturity and equity securities and short-term investments on deposit with U.S. state insurance authorities | $ 6.4 | $ 5.5 |
Principal Insurance Subsidiaries [Member] | ||
Statutory Accounting Practices [Line Items] | ||
Amount available for payment of dividends without prior regulatory approval during 2022 | 30 | |
United States Based Property and Casualty Insurance Subsidiaries [Member] | ||
Statutory Accounting Practices [Line Items] | ||
Statutory shareholders' equity | $ 301 | $ 237 |
Unpaid losses and loss adjust_3
Unpaid losses and loss adjustment expenses - Reconciliation of changes in claim liabilities (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Liability for Claims and Claims Adjustment Expense [Line Items] | |||
Gross liabilities at beginning of year | $ 79,854 | $ 73,019 | $ 68,458 |
Reinsurance recoverable on unpaid losses at beginning of year | (2,912) | (2,855) | (3,060) |
Net liabilities at beginning of year | 76,942 | 70,164 | 65,398 |
Net liabilities at end of year | 83,704 | 76,942 | 70,164 |
Reinsurance recoverable on unpaid losses at end of year | 2,960 | 2,912 | 2,855 |
Gross liabilities at end of year | 86,664 | 79,854 | 73,019 |
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 | 52,099 | 43,400 | 43,335 |
Incurred losses and loss adjustment expenses, prior accident years | (3,116) | (356) | (752) |
Total | 48,983 | 43,044 | 42,583 |
Paid losses and loss adjustment expenses, current accident year | (22,897) | (17,884) | (19,482) |
Paid losses and loss adjustment expenses, prior accident years | (18,904) | (18,862) | (17,642) |
Total | (41,801) | (36,746) | (37,124) |
Foreign currency effect | $ (420) | $ 480 | (23) |
Business acquisition (disposition) | $ (670) |
Unpaid losses and loss adjust_4
Unpaid losses and loss adjustment expenses - Narrative (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Property and Casualty Reinsurance, Excluding Retroactive Reinsurance [Member] | |||
Liability for Claims and Claims Adjustment Expense [Line Items] | |||
Incurred losses and loss adjustment expenses, prior accident years | $ (718) | $ 162 | $ (295) |
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 | 52,099 | 43,400 | 43,335 |
Incurred losses and loss adjustment expenses, prior accident years | $ (3,116) | $ (356) | $ (752) |
Prior years' losses incurred as a percentage of net liabilities | 4.00% | 0.50% | 1.10% |
Liabilities for environmental, asbestos and latent injury exposures | $ 2,100 | $ 2,100 | |
Property and Casualty Insurance and Reinsurance, Excluding Retroactive Reinsurance [Member] | Significant Catastrophe Events [Member] | |||
Liability for Claims and Claims Adjustment Expense [Line Items] | |||
Incurred losses and loss adjustment expenses with respect to current accident year events | 2,900 | 950 | $ 1,000 |
Minimum losses per event each accident year | 100 | ||
Primary Insurance [Member] | |||
Liability for Claims and Claims Adjustment Expense [Line Items] | |||
Incurred losses and loss adjustment expenses, prior accident years | $ (2,400) | $ (518) | $ (457) |
Unpaid losses and loss adjust_5
Unpaid losses and loss adjustment expenses - Reconciliation of unpaid losses and allocated loss adjustment expenses to balance sheet liability (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | ||||
Reinsurance recoverable | $ 2,960 | $ 2,912 | $ 2,855 | $ 3,060 |
Unpaid losses and loss adjustment expenses | 86,664 | $ 79,854 | $ 73,019 | $ 68,458 |
Insurance Group [Member] | ||||
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | ||||
Unpaid losses and ALAE, net | 79,312 | |||
Reinsurance recoverable | 2,836 | |||
Unpaid unallocated loss adjustment expenses | 2,448 | |||
Other unpaid losses and loss adjustment expenses | 2,068 | |||
Unpaid losses and loss adjustment expenses | 86,664 | |||
Insurance Group [Member] | GEICO [Member] | Physical Damage [Member] | ||||
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | ||||
Unpaid losses and ALAE, net | 729 | |||
Reinsurance recoverable | 11 | |||
Insurance Group [Member] | GEICO [Member] | Auto Liability [Member] | ||||
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | ||||
Unpaid losses and ALAE, net | 19,768 | |||
Reinsurance recoverable | 1,085 | |||
Insurance Group [Member] | Berkshire Hathaway Primary Group [Member] | Medical Professional Liability [Member] | ||||
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | ||||
Unpaid losses and ALAE, net | 8,506 | |||
Reinsurance recoverable | 28 | |||
Insurance Group [Member] | Berkshire Hathaway Primary Group [Member] | Workers' Compensation and Other Casualty [Member] | ||||
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | ||||
Unpaid losses and ALAE, net | 13,579 | |||
Reinsurance recoverable | 639 | |||
Insurance Group [Member] | Berkshire Hathaway Reinsurance Group [Member] | Property [Member] | ||||
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | ||||
Unpaid losses and ALAE, net | 13,119 | |||
Reinsurance recoverable | 181 | |||
Insurance Group [Member] | Berkshire Hathaway Reinsurance Group [Member] | Casualty [Member] | ||||
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | ||||
Unpaid losses and ALAE, net | 23,611 | |||
Reinsurance recoverable | $ 892 |
Unpaid losses and loss adjust_6
Unpaid losses and loss adjustment expenses - Incurred and paid losses and allocated loss adjustment expenses (Detail) - Insurance Group [Member] Claim in Thousands, $ in Millions | Dec. 31, 2021USD ($)Claim | Dec. 31, 2020USD ($) | [1] | Dec. 31, 2019USD ($) | [1] | Dec. 31, 2018USD ($) | [1] | Dec. 31, 2017USD ($) | [1] | Dec. 31, 2016USD ($) | [1] | Dec. 31, 2015USD ($) | [1] | Dec. 31, 2014USD ($) | [1] | Dec. 31, 2013USD ($) | [1] | Dec. 31, 2012USD ($) | [1] |
Claims Development [Line Items] | |||||||||||||||||||
Unpaid losses and ALAE, net | $ 79,312 | ||||||||||||||||||
GEICO [Member] | Physical Damage [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | 20,531 | ||||||||||||||||||
Cumulative Paid Losses and ALAE | 19,812 | ||||||||||||||||||
Unpaid losses and ALAE, net | 729 | ||||||||||||||||||
GEICO [Member] | Physical Damage [Member] | 2020 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | 8,396 | $ 8,603 | |||||||||||||||||
Cumulative Paid Losses and ALAE | 8,385 | 8,118 | |||||||||||||||||
IBNR and Case Development Liabilities | $ 64 | ||||||||||||||||||
Cumulative Number of Reported Claims | Claim | 7,935 | ||||||||||||||||||
GEICO [Member] | Physical Damage [Member] | 2021 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | $ 12,135 | ||||||||||||||||||
Cumulative Paid Losses and ALAE | 11,427 | ||||||||||||||||||
IBNR and Case Development Liabilities | $ 420 | ||||||||||||||||||
Cumulative Number of Reported Claims | Claim | 8,967 | ||||||||||||||||||
GEICO [Member] | Physical Damage [Member] | 2020-2021 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Unpaid losses and ALAE, net | $ 719 | ||||||||||||||||||
GEICO [Member] | Physical Damage [Member] | Shortduration Insurance Contracts Accident Years Before 2020 | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Net unpaid losses and ALAE for accident years before earliest accident year presented | 10 | ||||||||||||||||||
GEICO [Member] | Auto Liability [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | 76,311 | ||||||||||||||||||
Cumulative Paid Losses and ALAE | 57,157 | ||||||||||||||||||
Unpaid losses and ALAE, net | 19,768 | ||||||||||||||||||
GEICO [Member] | Auto Liability [Member] | 2017 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | 13,777 | 13,824 | $ 13,888 | $ 13,864 | $ 14,095 | ||||||||||||||
Cumulative Paid Losses and ALAE | 13,260 | 12,729 | 11,799 | 9,944 | 5,806 | ||||||||||||||
IBNR and Case Development Liabilities | $ 232 | ||||||||||||||||||
Cumulative Number of Reported Claims | Claim | 2,646 | ||||||||||||||||||
GEICO [Member] | Auto Liability [Member] | 2020 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | $ 14,024 | 14,637 | |||||||||||||||||
Cumulative Paid Losses and ALAE | 9,839 | 5,395 | |||||||||||||||||
IBNR and Case Development Liabilities | $ 2,564 | ||||||||||||||||||
Cumulative Number of Reported Claims | Claim | 2,087 | ||||||||||||||||||
GEICO [Member] | Auto Liability [Member] | 2021 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | $ 17,481 | ||||||||||||||||||
Cumulative Paid Losses and ALAE | 6,450 | ||||||||||||||||||
IBNR and Case Development Liabilities | $ 5,541 | ||||||||||||||||||
Cumulative Number of Reported Claims | Claim | 2,216 | ||||||||||||||||||
GEICO [Member] | Auto Liability [Member] | 2018 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | $ 14,838 | 14,985 | 15,226 | 15,383 | |||||||||||||||
Cumulative Paid Losses and ALAE | 13,757 | 12,658 | 10,772 | 6,218 | |||||||||||||||
IBNR and Case Development Liabilities | $ 495 | ||||||||||||||||||
Cumulative Number of Reported Claims | Claim | 2,713 | ||||||||||||||||||
GEICO [Member] | Auto Liability [Member] | 2019 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | $ 16,191 | 16,678 | 16,901 | ||||||||||||||||
Cumulative Paid Losses and ALAE | 13,851 | 11,671 | 6,742 | ||||||||||||||||
IBNR and Case Development Liabilities | $ 1,202 | ||||||||||||||||||
Cumulative Number of Reported Claims | Claim | 2,778 | ||||||||||||||||||
GEICO [Member] | Auto Liability [Member] | 2017-2021 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Unpaid losses and ALAE, net | $ 19,154 | ||||||||||||||||||
GEICO [Member] | Auto Liability [Member] | Before 2017 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Net unpaid losses and ALAE for accident years before earliest accident year presented | 614 | ||||||||||||||||||
Berkshire Hathaway Primary Group [Member] | Medical Professional Liability [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | 13,591 | ||||||||||||||||||
Cumulative Paid Losses and ALAE | 5,511 | ||||||||||||||||||
Unpaid losses and ALAE, net | 8,506 | ||||||||||||||||||
Berkshire Hathaway Primary Group [Member] | Medical Professional Liability [Member] | 2012 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | 971 | 988 | 998 | 1,035 | 1,078 | $ 1,168 | $ 1,223 | $ 1,277 | $ 1,306 | $ 1,336 | |||||||||
Cumulative Paid Losses and ALAE | 848 | 830 | 789 | 725 | 642 | 522 | 377 | 218 | 93 | 15 | |||||||||
IBNR and Case Development Liabilities | $ 51 | ||||||||||||||||||
Cumulative Number of Reported Claims | Claim | 11 | ||||||||||||||||||
Berkshire Hathaway Primary Group [Member] | Medical Professional Liability [Member] | 2013 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | $ 978 | 985 | 1,019 | 1,086 | 1,127 | 1,195 | 1,261 | 1,296 | 1,328 | ||||||||||
Cumulative Paid Losses and ALAE | 821 | 793 | 743 | 635 | 518 | 368 | 219 | 90 | 15 | ||||||||||
IBNR and Case Development Liabilities | $ 62 | ||||||||||||||||||
Cumulative Number of Reported Claims | Claim | 11 | ||||||||||||||||||
Berkshire Hathaway Primary Group [Member] | Medical Professional Liability [Member] | 2014 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | $ 1,033 | 1,061 | 1,127 | 1,218 | 1,246 | 1,305 | 1,375 | 1,370 | |||||||||||
Cumulative Paid Losses and ALAE | 788 | 752 | 671 | 540 | 396 | 238 | 106 | 21 | |||||||||||
IBNR and Case Development Liabilities | $ 108 | ||||||||||||||||||
Cumulative Number of Reported Claims | Claim | 11 | ||||||||||||||||||
Berkshire Hathaway Primary Group [Member] | Medical Professional Liability [Member] | 2015 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | $ 1,093 | 1,157 | 1,218 | 1,290 | 1,269 | 1,342 | 1,374 | ||||||||||||
Cumulative Paid Losses and ALAE | 719 | 663 | 543 | 382 | 218 | 108 | 23 | ||||||||||||
IBNR and Case Development Liabilities | $ 136 | ||||||||||||||||||
Cumulative Number of Reported Claims | Claim | 12 | ||||||||||||||||||
Berkshire Hathaway Primary Group [Member] | Medical Professional Liability [Member] | 2016 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | $ 1,288 | 1,341 | 1,394 | 1,414 | 1,416 | 1,392 | |||||||||||||
Cumulative Paid Losses and ALAE | 712 | 620 | 461 | 274 | 115 | 22 | |||||||||||||
IBNR and Case Development Liabilities | $ 213 | ||||||||||||||||||
Cumulative Number of Reported Claims | Claim | 15 | ||||||||||||||||||
Berkshire Hathaway Primary Group [Member] | Medical Professional Liability [Member] | 2017 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | $ 1,382 | 1,474 | 1,495 | 1,499 | 1,466 | ||||||||||||||
Cumulative Paid Losses and ALAE | 582 | 457 | 300 | 128 | 27 | ||||||||||||||
IBNR and Case Development Liabilities | $ 328 | ||||||||||||||||||
Cumulative Number of Reported Claims | Claim | 21 | ||||||||||||||||||
Berkshire Hathaway Primary Group [Member] | Medical Professional Liability [Member] | 2020 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | $ 1,751 | 1,704 | |||||||||||||||||
Cumulative Paid Losses and ALAE | 148 | 34 | |||||||||||||||||
IBNR and Case Development Liabilities | $ 1,319 | ||||||||||||||||||
Cumulative Number of Reported Claims | Claim | 27 | ||||||||||||||||||
Berkshire Hathaway Primary Group [Member] | Medical Professional Liability [Member] | 2021 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | $ 1,852 | ||||||||||||||||||
Cumulative Paid Losses and ALAE | 36 | ||||||||||||||||||
IBNR and Case Development Liabilities | $ 1,672 | ||||||||||||||||||
Cumulative Number of Reported Claims | Claim | 15 | ||||||||||||||||||
Berkshire Hathaway Primary Group [Member] | Medical Professional Liability [Member] | 2018 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | $ 1,580 | 1,659 | 1,650 | 1,602 | |||||||||||||||
Cumulative Paid Losses and ALAE | 543 | 367 | 166 | 35 | |||||||||||||||
IBNR and Case Development Liabilities | $ 495 | ||||||||||||||||||
Cumulative Number of Reported Claims | Claim | 23 | ||||||||||||||||||
Berkshire Hathaway Primary Group [Member] | Medical Professional Liability [Member] | 2019 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | $ 1,663 | 1,691 | 1,670 | ||||||||||||||||
Cumulative Paid Losses and ALAE | 314 | 160 | 39 | ||||||||||||||||
IBNR and Case Development Liabilities | $ 869 | ||||||||||||||||||
Cumulative Number of Reported Claims | Claim | 20 | ||||||||||||||||||
Berkshire Hathaway Primary Group [Member] | Medical Professional Liability [Member] | Shortduration Insurance Contracts Accident Years 2012 Through 2021 | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Unpaid losses and ALAE, net | $ 8,080 | ||||||||||||||||||
Berkshire Hathaway Primary Group [Member] | Medical Professional Liability [Member] | Shortduration Insurance Contracts Accident Years Before 2012 | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Net unpaid losses and ALAE for accident years before earliest accident year presented | 426 | ||||||||||||||||||
Berkshire Hathaway Primary Group [Member] | Workers' Compensation and Other Casualty [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | 27,591 | ||||||||||||||||||
Cumulative Paid Losses and ALAE | 14,425 | ||||||||||||||||||
Unpaid losses and ALAE, net | 13,579 | ||||||||||||||||||
Berkshire Hathaway Primary Group [Member] | Workers' Compensation and Other Casualty [Member] | 2012 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | 709 | 718 | 736 | 750 | 762 | 780 | 791 | 837 | 850 | 873 | |||||||||
Cumulative Paid Losses and ALAE | 640 | 634 | 626 | 611 | 592 | 560 | 501 | 414 | 299 | 116 | |||||||||
IBNR and Case Development Liabilities | $ 39 | ||||||||||||||||||
Cumulative Number of Reported Claims | Claim | 53 | ||||||||||||||||||
Berkshire Hathaway Primary Group [Member] | Workers' Compensation and Other Casualty [Member] | 2013 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | $ 1,008 | 1,028 | 1,050 | 1,072 | 1,096 | 1,127 | 1,178 | 1,228 | 1,258 | ||||||||||
Cumulative Paid Losses and ALAE | 884 | 874 | 858 | 835 | 793 | 725 | 609 | 422 | 177 | ||||||||||
IBNR and Case Development Liabilities | $ 96 | ||||||||||||||||||
Cumulative Number of Reported Claims | Claim | 67 | ||||||||||||||||||
Berkshire Hathaway Primary Group [Member] | Workers' Compensation and Other Casualty [Member] | 2014 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | $ 1,460 | 1,477 | 1,497 | 1,482 | 1,548 | 1,614 | 1,638 | 1,743 | |||||||||||
Cumulative Paid Losses and ALAE | 1,245 | 1,214 | 1,176 | 1,111 | 1,007 | 800 | 557 | 239 | |||||||||||
IBNR and Case Development Liabilities | $ 163 | ||||||||||||||||||
Cumulative Number of Reported Claims | Claim | 90 | ||||||||||||||||||
Berkshire Hathaway Primary Group [Member] | Workers' Compensation and Other Casualty [Member] | 2015 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | $ 2,006 | 1,997 | 2,025 | 2,014 | 2,042 | 2,127 | 2,169 | ||||||||||||
Cumulative Paid Losses and ALAE | 1,648 | 1,570 | 1,488 | 1,289 | 1,017 | 700 | 289 | ||||||||||||
IBNR and Case Development Liabilities | $ 242 | ||||||||||||||||||
Cumulative Number of Reported Claims | Claim | 111 | ||||||||||||||||||
Berkshire Hathaway Primary Group [Member] | Workers' Compensation and Other Casualty [Member] | 2016 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | $ 2,370 | 2,365 | 2,325 | 2,359 | 2,422 | 2,511 | |||||||||||||
Cumulative Paid Losses and ALAE | 1,778 | 1,661 | 1,461 | 1,148 | 775 | 329 | |||||||||||||
IBNR and Case Development Liabilities | $ 396 | ||||||||||||||||||
Cumulative Number of Reported Claims | Claim | 115 | ||||||||||||||||||
Berkshire Hathaway Primary Group [Member] | Workers' Compensation and Other Casualty [Member] | 2017 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | $ 2,852 | 2,843 | 2,842 | 2,907 | 3,044 | ||||||||||||||
Cumulative Paid Losses and ALAE | 1,956 | 1,771 | 1,434 | 1,003 | 441 | ||||||||||||||
IBNR and Case Development Liabilities | $ 503 | ||||||||||||||||||
Cumulative Number of Reported Claims | Claim | 139 | ||||||||||||||||||
Berkshire Hathaway Primary Group [Member] | Workers' Compensation and Other Casualty [Member] | 2020 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | $ 4,278 | 4,421 | |||||||||||||||||
Cumulative Paid Losses and ALAE | 1,391 | 695 | |||||||||||||||||
IBNR and Case Development Liabilities | $ 2,089 | ||||||||||||||||||
Cumulative Number of Reported Claims | Claim | 141 | ||||||||||||||||||
Berkshire Hathaway Primary Group [Member] | Workers' Compensation and Other Casualty [Member] | 2021 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | $ 5,197 | ||||||||||||||||||
Cumulative Paid Losses and ALAE | 833 | ||||||||||||||||||
IBNR and Case Development Liabilities | $ 3,545 | ||||||||||||||||||
Cumulative Number of Reported Claims | Claim | 218 | ||||||||||||||||||
Berkshire Hathaway Primary Group [Member] | Workers' Compensation and Other Casualty [Member] | 2018 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | $ 3,536 | 3,480 | 3,412 | 3,544 | |||||||||||||||
Cumulative Paid Losses and ALAE | 2,028 | 1,683 | 1,198 | 538 | |||||||||||||||
IBNR and Case Development Liabilities | $ 908 | ||||||||||||||||||
Cumulative Number of Reported Claims | Claim | 160 | ||||||||||||||||||
Berkshire Hathaway Primary Group [Member] | Workers' Compensation and Other Casualty [Member] | 2019 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | $ 4,175 | 4,102 | 4,074 | ||||||||||||||||
Cumulative Paid Losses and ALAE | 2,022 | 1,478 | 682 | ||||||||||||||||
IBNR and Case Development Liabilities | $ 1,278 | ||||||||||||||||||
Cumulative Number of Reported Claims | Claim | 173 | ||||||||||||||||||
Berkshire Hathaway Primary Group [Member] | Workers' Compensation and Other Casualty [Member] | Shortduration Insurance Contracts Accident Years 2012 Through 2021 | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Unpaid losses and ALAE, net | $ 13,166 | ||||||||||||||||||
Berkshire Hathaway Primary Group [Member] | Workers' Compensation and Other Casualty [Member] | Shortduration Insurance Contracts Accident Years Before 2012 | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Net unpaid losses and ALAE for accident years before earliest accident year presented | 413 | ||||||||||||||||||
Berkshire Hathaway Reinsurance Group [Member] | Property [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | 38,874 | ||||||||||||||||||
Cumulative Paid Losses and ALAE | 26,156 | ||||||||||||||||||
Unpaid losses and ALAE, net | 13,119 | ||||||||||||||||||
Berkshire Hathaway Reinsurance Group [Member] | Property [Member] | 2012 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | 2,305 | 2,285 | 2,294 | 2,309 | 2,327 | 2,330 | 2,382 | 2,621 | 2,822 | 3,129 | |||||||||
Cumulative Paid Losses and ALAE | 2,201 | 2,180 | 2,162 | 2,117 | 2,097 | 2,022 | 1,934 | 1,796 | 1,218 | 259 | |||||||||
IBNR and Case Development Liabilities | 31 | ||||||||||||||||||
Berkshire Hathaway Reinsurance Group [Member] | Property [Member] | 2013 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | 2,453 | 2,455 | 2,469 | 2,520 | 2,579 | 2,600 | 2,690 | 3,035 | 3,198 | ||||||||||
Cumulative Paid Losses and ALAE | 2,352 | 2,328 | 2,300 | 2,260 | 2,180 | 2,060 | 1,863 | 1,424 | 515 | ||||||||||
IBNR and Case Development Liabilities | 29 | ||||||||||||||||||
Berkshire Hathaway Reinsurance Group [Member] | Property [Member] | 2014 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | 1,996 | 1,999 | 2,028 | 2,100 | 2,154 | 2,297 | 2,408 | 2,619 | |||||||||||
Cumulative Paid Losses and ALAE | 1,860 | 1,838 | 1,808 | 1,758 | 1,693 | 1,555 | 1,234 | 465 | |||||||||||
IBNR and Case Development Liabilities | 33 | ||||||||||||||||||
Berkshire Hathaway Reinsurance Group [Member] | Property [Member] | 2015 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | 2,975 | 2,971 | 2,948 | 2,950 | 2,546 | 3,103 | 3,256 | ||||||||||||
Cumulative Paid Losses and ALAE | 2,510 | 2,427 | 2,245 | 2,141 | 1,946 | 1,596 | 577 | ||||||||||||
IBNR and Case Development Liabilities | 154 | ||||||||||||||||||
Berkshire Hathaway Reinsurance Group [Member] | Property [Member] | 2016 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | 3,578 | 3,589 | 3,585 | 3,616 | 3,890 | 3,261 | |||||||||||||
Cumulative Paid Losses and ALAE | 3,083 | 2,899 | 2,647 | 2,186 | 1,794 | 705 | |||||||||||||
IBNR and Case Development Liabilities | 112 | ||||||||||||||||||
Berkshire Hathaway Reinsurance Group [Member] | Property [Member] | 2017 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | 4,631 | 4,698 | 4,806 | 4,953 | 5,253 | ||||||||||||||
Cumulative Paid Losses and ALAE | 4,163 | 3,944 | 3,633 | 2,712 | 1,025 | ||||||||||||||
IBNR and Case Development Liabilities | 141 | ||||||||||||||||||
Berkshire Hathaway Reinsurance Group [Member] | Property [Member] | 2020 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | 6,048 | 5,795 | |||||||||||||||||
Cumulative Paid Losses and ALAE | 2,882 | 956 | |||||||||||||||||
IBNR and Case Development Liabilities | 1,504 | ||||||||||||||||||
Berkshire Hathaway Reinsurance Group [Member] | Property [Member] | 2021 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | 6,669 | ||||||||||||||||||
Cumulative Paid Losses and ALAE | 1,214 | ||||||||||||||||||
IBNR and Case Development Liabilities | 3,405 | ||||||||||||||||||
Berkshire Hathaway Reinsurance Group [Member] | Property [Member] | 2018 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | 4,227 | 4,344 | 4,467 | 4,375 | |||||||||||||||
Cumulative Paid Losses and ALAE | 3,061 | 2,831 | 2,310 | 907 | |||||||||||||||
IBNR and Case Development Liabilities | 461 | ||||||||||||||||||
Berkshire Hathaway Reinsurance Group [Member] | Property [Member] | 2019 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | 3,992 | 4,234 | 4,065 | ||||||||||||||||
Cumulative Paid Losses and ALAE | 2,830 | 2,247 | 748 | ||||||||||||||||
IBNR and Case Development Liabilities | 541 | ||||||||||||||||||
Berkshire Hathaway Reinsurance Group [Member] | Property [Member] | Shortduration Insurance Contracts Accident Years 2012 Through 2021 | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Unpaid losses and ALAE, net | 12,718 | ||||||||||||||||||
Berkshire Hathaway Reinsurance Group [Member] | Property [Member] | Shortduration Insurance Contracts Accident Years Before 2012 | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Net unpaid losses and ALAE for accident years before earliest accident year presented | 401 | ||||||||||||||||||
Berkshire Hathaway Reinsurance Group [Member] | Casualty [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | 27,135 | ||||||||||||||||||
Cumulative Paid Losses and ALAE | 12,212 | ||||||||||||||||||
Unpaid losses and ALAE, net | 23,611 | ||||||||||||||||||
Berkshire Hathaway Reinsurance Group [Member] | Casualty [Member] | 2012 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | 2,557 | 2,556 | 2,562 | 2,619 | 2,686 | 2,799 | 2,871 | 2,808 | 2,974 | 2,792 | |||||||||
Cumulative Paid Losses and ALAE | 1,906 | 1,868 | 1,810 | 1,750 | 1,650 | 1,525 | 1,368 | 1,139 | 747 | $ 308 | |||||||||
IBNR and Case Development Liabilities | 372 | ||||||||||||||||||
Berkshire Hathaway Reinsurance Group [Member] | Casualty [Member] | 2013 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | 1,837 | 1,865 | 1,937 | 2,032 | 2,086 | 2,141 | 2,298 | 2,268 | 2,132 | ||||||||||
Cumulative Paid Losses and ALAE | 1,290 | 1,256 | 1,199 | 1,139 | 1,037 | 933 | 805 | 519 | $ 290 | ||||||||||
IBNR and Case Development Liabilities | 331 | ||||||||||||||||||
Berkshire Hathaway Reinsurance Group [Member] | Casualty [Member] | 2014 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | 1,847 | 1,942 | 1,952 | 1,915 | 2,001 | 2,038 | 2,069 | 1,872 | |||||||||||
Cumulative Paid Losses and ALAE | 1,147 | 1,103 | 959 | 874 | 752 | 642 | 477 | $ 149 | |||||||||||
IBNR and Case Development Liabilities | 431 | ||||||||||||||||||
Berkshire Hathaway Reinsurance Group [Member] | Casualty [Member] | 2015 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | 1,817 | 1,844 | 1,882 | 2,008 | 2,109 | 2,082 | 1,877 | ||||||||||||
Cumulative Paid Losses and ALAE | 1,088 | 1,014 | 924 | 833 | 713 | 489 | $ 196 | ||||||||||||
IBNR and Case Development Liabilities | 395 | ||||||||||||||||||
Berkshire Hathaway Reinsurance Group [Member] | Casualty [Member] | 2016 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | 1,843 | 1,900 | 1,980 | 2,023 | 2,115 | 1,906 | |||||||||||||
Cumulative Paid Losses and ALAE | 1,043 | 960 | 862 | 732 | 555 | $ 253 | |||||||||||||
IBNR and Case Development Liabilities | 451 | ||||||||||||||||||
Berkshire Hathaway Reinsurance Group [Member] | Casualty [Member] | 2017 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | 2,383 | 2,470 | 2,563 | 2,685 | 2,193 | ||||||||||||||
Cumulative Paid Losses and ALAE | 1,376 | 1,269 | 819 | 564 | $ 230 | ||||||||||||||
IBNR and Case Development Liabilities | 582 | ||||||||||||||||||
Berkshire Hathaway Reinsurance Group [Member] | Casualty [Member] | 2020 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | 3,987 | 3,861 | |||||||||||||||||
Cumulative Paid Losses and ALAE | 970 | 404 | |||||||||||||||||
IBNR and Case Development Liabilities | 2,147 | ||||||||||||||||||
Berkshire Hathaway Reinsurance Group [Member] | Casualty [Member] | 2021 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | 3,744 | ||||||||||||||||||
Cumulative Paid Losses and ALAE | 307 | ||||||||||||||||||
IBNR and Case Development Liabilities | 2,584 | ||||||||||||||||||
Berkshire Hathaway Reinsurance Group [Member] | Casualty [Member] | 2018 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | 3,340 | 3,482 | 3,559 | 2,924 | |||||||||||||||
Cumulative Paid Losses and ALAE | 1,909 | 1,639 | 867 | $ 265 | |||||||||||||||
IBNR and Case Development Liabilities | 904 | ||||||||||||||||||
Berkshire Hathaway Reinsurance Group [Member] | Casualty [Member] | 2019 [Member] | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Incurred Losses and ALAE | 3,780 | 3,901 | 3,429 | ||||||||||||||||
Cumulative Paid Losses and ALAE | 1,176 | $ 896 | $ 353 | ||||||||||||||||
IBNR and Case Development Liabilities | 1,521 | ||||||||||||||||||
Berkshire Hathaway Reinsurance Group [Member] | Casualty [Member] | Shortduration Insurance Contracts Accident Years 2012 Through 2021 | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Unpaid losses and ALAE, net | 14,923 | ||||||||||||||||||
Berkshire Hathaway Reinsurance Group [Member] | Casualty [Member] | Shortduration Insurance Contracts Accident Years Before 2012 | |||||||||||||||||||
Claims Development [Line Items] | |||||||||||||||||||
Net unpaid losses and ALAE for accident years before earliest accident year presented | $ 8,688 | ||||||||||||||||||
[1] | Unaudited required supplemental information |
Unpaid losses and loss adjust_7
Unpaid losses and loss adjustment expenses - Average historical claims duration (Detail) - Insurance Group [Member] | Dec. 31, 2021 |
GEICO [Member] | Physical Damage [Member] | |
Shortduration Insurance Contracts Historical Claims Duration [Line Items] | |
Average annual percentage payout of incurred losses, net of reinsurance, year one | 97.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year two | 3.00% |
GEICO [Member] | Auto Liability [Member] | |
Shortduration Insurance Contracts Historical Claims Duration [Line Items] | |
Average annual percentage payout of incurred losses, net of reinsurance, year one | 41.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year two | 30.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year three | 13.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year four | 8.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year five | 4.00% |
Berkshire Hathaway Primary Group [Member] | Medical Professional Liability [Member] | |
Shortduration Insurance Contracts Historical Claims Duration [Line Items] | |
Average annual percentage payout of incurred losses, net of reinsurance, year one | 2.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year two | 8.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year three | 12.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year four | 14.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year five | 13.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year six | 11.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year seven | 8.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year eight | 5.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year nine | 4.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year ten | 2.00% |
Berkshire Hathaway Primary Group [Member] | Workers' Compensation and Other Casualty [Member] | |
Shortduration Insurance Contracts Historical Claims Duration [Line Items] | |
Average annual percentage payout of incurred losses, net of reinsurance, year one | 16.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year two | 21.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year three | 16.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year four | 12.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year five | 8.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year six | 4.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year seven | 3.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year eight | 2.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year nine | 1.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year ten | 1.00% |
Berkshire Hathaway Reinsurance Group [Member] | Property [Member] | |
Shortduration Insurance Contracts Historical Claims Duration [Line Items] | |
Average annual percentage payout of incurred losses, net of reinsurance, year one | 19.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year two | 36.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year three | 16.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year four | 8.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year five | 5.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year six | 4.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year seven | 2.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year eight | 1.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year nine | 1.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year ten | 1.00% |
Berkshire Hathaway Reinsurance Group [Member] | Casualty [Member] | |
Shortduration Insurance Contracts Historical Claims Duration [Line Items] | |
Average annual percentage payout of incurred losses, net of reinsurance, year one | 11.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year two | 16.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year three | 13.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year four | 9.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year five | 6.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year six | 5.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year seven | 5.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year eight | 3.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year nine | 2.00% |
Average annual percentage payout of incurred losses, net of reinsurance, year ten | 2.00% |
Retroactive reinsurance contr_3
Retroactive reinsurance contracts - Reconciliation of changes in claim liabilities and deferred charge assets (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Liability for Claims and Claims Adjustment Expense [Line Items] | |||
Unpaid losses and loss adjustment expenses, beginning of year | $ 40,966 | $ 42,441 | $ 41,834 |
Unpaid losses and loss adjustment expenses, end of year | 38,256 | 40,966 | 42,441 |
Deferred charges retroactive reinsurance, beginning of year | (12,441) | (13,747) | (14,104) |
Deferred charges retroactive reinsurance, end of year | (10,639) | (12,441) | (13,747) |
Retroactive Reinsurance [Member] | |||
Liability for Claims and Claims Adjustment Expense [Line Items] | |||
Incurred losses and loss adjustment expenses, prior years' contracts | 845 | 907 | 1,188 |
Total incurred losses and loss adjustment expenses | 981 | 907 | 1,873 |
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, current year contracts | 153 | 1,138 | |
Incurred losses and loss adjustment expenses, prior years' contracts | (974) | (399) | 378 |
Total incurred losses and loss adjustment expenses | (821) | (399) | 1,516 |
Paid losses and loss adjustment expenses | (1,889) | (1,076) | (909) |
Deferred Charges Reinsurance Assumed [Member] | Retroactive Reinsurance [Member] | |||
Liability for Claims and Claims Adjustment Expense [Line Items] | |||
Incurred losses and loss adjustment expenses, current year contracts | (17) | (453) | |
Incurred losses and loss adjustment expenses, prior years' contracts | 1,819 | 1,306 | 810 |
Total incurred losses and loss adjustment expenses | $ 1,802 | $ 1,306 | $ 357 |
Retroactive reinsurance contr_4
Retroactive reinsurance contracts - Narrative (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Effects of Reinsurance [Line Items] | ||||
Unpaid losses and loss adjustment expenses under retroactive reinsurance contracts | $ 38,256 | $ 40,966 | $ 42,441 | $ 41,834 |
Deferred charges - retroactive reinsurance | 10,639 | 12,441 | 13,747 | $ 14,104 |
Retroactive Reinsurance [Member] | ||||
Effects of Reinsurance [Line Items] | ||||
Incurred losses and loss adjustment expenses, prior years' contracts | 845 | 907 | $ 1,188 | |
Liabilities for environmental, asbestos and latent injury claims | 12,300 | 12,500 | ||
AIG [Member] | Retroactive Reinsurance [Member] | NICO [Member] | ||||
Effects of Reinsurance [Line Items] | ||||
Unpaid losses and loss adjustment expenses under retroactive reinsurance contracts | 15,800 | 17,700 | ||
Retroactive reinsurance contracts, claims paid | 1,200 | |||
Deferred charges - retroactive reinsurance | $ 4,500 | $ 5,400 |
Notes payable and other borro_3
Notes payable and other borrowings (Detail) £ in Millions, $ in Millions, € in Billions, ¥ in Billions | 12 Months Ended | ||||
Dec. 31, 2021USD ($) | Dec. 31, 2021EUR (€) | Dec. 31, 2021JPY (¥) | Dec. 31, 2021GBP (£) | Dec. 31, 2020USD ($) | |
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | € 6.9 | ¥ 785.5 | £ 1,750 | ||
Principal payments on debt - 2022 | $ 6,139 | ||||
Principal payments on debt - 2023 | 10,711 | ||||
Principal payments on debt - 2024 | 6,145 | ||||
Principal payments on debt - 2025 | 6,495 | ||||
Principal payments on debt - 2026 | 5,455 | ||||
Berkshire Hathaway Inc. (Parent) [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | 21,409 | $ 22,665 | |||
Principal payments on debt - 2022 | 600 | ||||
Principal payments on debt - 2023 | 4,467 | ||||
Principal payments on debt - 2024 | 2,080 | ||||
Principal payments on debt - 2025 | 1,681 | ||||
Principal payments on debt - 2026 | 3,378 | ||||
Insurance and Other [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | 39,272 | 41,522 | |||
Principal payments on debt - 2022 | 1,933 | ||||
Principal payments on debt - 2023 | 5,879 | ||||
Principal payments on debt - 2024 | 2,154 | ||||
Principal payments on debt - 2025 | 2,703 | ||||
Principal payments on debt - 2026 | 3,422 | ||||
Insurance and Other [Member] | Berkshire Hathaway Inc. (Parent) [Member] | U.S. Dollar Denominated [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | $ 6,820 | 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 | $ 7,792 | 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 | $ 6,797 | 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 | $ 4,438 | 4,682 | |||
Short-term debt | $ 342 | 1,062 | |||
Weighted average interest rate, percentage | 4.00% | 4.00% | 4.00% | 4.00% | |
Short-term borrowings, weighted average interest rate | 2.90% | 2.90% | 2.90% | 2.90% | |
Insurance and Other [Member] | Subsidiaries [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2022 | ||||
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 | $ 10,758 | 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] | United Kingdom, Pounds | Berkshire Hathaway Finance Corporation [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | $ 2,325 | 2,347 | |||
Weighted average interest rate, percentage | 2.50% | 2.50% | 2.50% | 2.50% | |
Insurance and Other [Member] | Subsidiaries [Member] | United Kingdom, Pounds | Berkshire Hathaway Finance Corporation [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt maturity year | 2039 | ||||
Insurance and Other [Member] | Subsidiaries [Member] | United Kingdom, Pounds | 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 | $ 74,990 | 75,373 | |||
Principal payments on debt - 2022 | 4,206 | ||||
Principal payments on debt - 2023 | 4,832 | ||||
Principal payments on debt - 2024 | 3,991 | ||||
Principal payments on debt - 2025 | 3,792 | ||||
Principal payments on debt - 2026 | $ 2,033 | ||||
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 | $ 13,003 | 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 | $ 36,759 | 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 | 2022 | ||||
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 | $ 2,009 | 2,286 | |||
Short-term borrowings, weighted average interest rate | 1.40% | 1.40% | 1.40% | 1.40% | |
Railroad, Utilities and Energy [Member] | Subsidiaries [Member] | Burlington Northern Santa Fe ("BNSF") and subsidiaries [Member] | |||||
Debt Instrument [Line Items] | |||||
Notes payable and other borrowings | $ 23,219 | $ 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 | 2022 | ||||
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 | 12 Months Ended | ||||||||
Jan. 31, 2022USD ($) | Jan. 31, 2022JPY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2021EUR (€) | Dec. 31, 2021JPY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2021EUR (€) | Dec. 31, 2021JPY (¥) | Dec. 31, 2021GBP (£) | |
Debt Instrument [Line Items] | ||||||||||
Notes payable and other borrowings | € 6,900 | ¥ 785.5 | £ 1,750 | |||||||
Berkshire Hathaway Inc. (Parent) [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Repayments of borrowings | $ 2,167 | $ 1,151 | $ 758 | |||||||
Notes payable and other borrowings | 21,409 | 22,665 | ||||||||
Gain (loss) attributable to changes in foreign currency exchange rates | 1,281 | (970) | 193 | |||||||
Line Of Credit [Member] | Subsidiaries [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Unused lines of credit available | 10,400 | |||||||||
Line Of Credit [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy and Subsidiaries [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Unused lines of credit available | 8,700 | |||||||||
Insurance and Other [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Notes payable and other borrowings | 39,272 | 41,522 | ||||||||
Insurance and Other [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Subsidiaries Excluding Berkshire Hathaway Finance Corporation [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Guarantee obligation | $ 3,800 | |||||||||
Insurance and Other [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Subsequent Event [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Repayments of borrowings | $ 600 | |||||||||
Insurance and Other [Member] | Subsidiaries [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Weighted average interest rate, percentage | 4.00% | 4.00% | 4.00% | 4.00% | ||||||
Insurance and Other [Member] | Subsidiaries [Member] | Minimum [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Debt maturity year | 2022 | 2022 | 2022 | |||||||
Insurance and Other [Member] | Subsidiaries [Member] | Maximum [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Debt maturity year | 2045 | 2045 | 2045 | |||||||
Insurance and Other [Member] | Senior Notes [Member] | Berkshire Hathaway Finance Corporation [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Repayments of borrowings | $ 750 | |||||||||
Insurance and Other [Member] | Senior Notes [Member] | Berkshire Hathaway Inc. (Parent) [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Repayments of borrowings | 1,500 | € 550 | ||||||||
Gain (loss) attributable to changes in foreign currency exchange rates | $ 1,300 | (1,000) | $ 192 | |||||||
Insurance and Other [Member] | Senior Notes [Member] | Notes Due 2041 at 0.5% [Member] | Berkshire Hathaway Inc. (Parent) [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Principal amount of debt issued | € | € 600 | |||||||||
Debt instrument, interest rate, stated percentage | 0.50% | 0.50% | 0.50% | 0.50% | ||||||
Debt maturity year | 2041 | 2041 | 2041 | |||||||
Insurance and Other [Member] | Senior Notes [Member] | Debt Due 2026 To 2041 [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% | 0.50% | 0.50% | ||||||
Insurance and Other [Member] | Senior Notes [Member] | Debt Due 2026 To 2041 [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Minimum [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Debt maturity year | 2026 | 2026 | 2026 | |||||||
Insurance and Other [Member] | Senior Notes [Member] | Debt Due 2026 To 2041 [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Maximum [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Debt maturity year | 2041 | 2041 | 2041 | |||||||
Insurance and Other [Member] | Senior Notes [Member] | Debt Due 2027 To 2052 [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Subsequent Event [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Principal amount of debt issued | $ 1,100 | ¥ 128.5 | ||||||||
Weighted average interest rate, percentage | 0.50% | 0.50% | ||||||||
Insurance and Other [Member] | Senior Notes [Member] | Debt Due 2027 To 2052 [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Subsequent Event [Member] | Minimum [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Debt maturity year | 2027 | 2027 | ||||||||
Insurance and Other [Member] | Senior Notes [Member] | Debt Due 2027 To 2052 [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Subsequent Event [Member] | Maximum [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Debt maturity year | 2052 | 2052 | ||||||||
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] | ||||||||||
Principal amount of debt issued | $ 750 | |||||||||
Debt instrument, interest rate, stated percentage | 2.50% | 2.50% | 2.50% | 2.50% | ||||||
Debt maturity year | 2051 | 2051 | 2051 | |||||||
Railroad, Utilities and Energy [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Notes payable and other borrowings | $ 74,990 | $ 75,373 | ||||||||
Railroad, Utilities and Energy [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy and Subsidiaries [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Repayments of borrowings | 2,500 | |||||||||
Railroad, Utilities and Energy [Member] | Debt Due 2028 To 2052 [Member] | Subsidiaries [Member] | Berkshire Hathaway Energy and Subsidiaries [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Principal amount of debt issued | $ 2,200 | |||||||||
Weighted average interest rate, percentage | 3.20% | 3.20% | 3.20% | 3.20% | ||||||
Railroad, Utilities and Energy [Member] | Debt Due 2028 To 2052 [Member] | Subsidiaries [Member] | Minimum [Member] | Berkshire Hathaway Energy and Subsidiaries [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Debt maturity year | 2028 | 2028 | 2028 | |||||||
Railroad, Utilities and Energy [Member] | Debt Due 2028 To 2052 [Member] | Subsidiaries [Member] | Maximum [Member] | Berkshire Hathaway Energy and Subsidiaries [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Debt maturity year | 2052 | 2052 | 2052 | |||||||
Railroad, Utilities and Energy [Member] | Senior Unsecured Debenture [Member] | Subsidiaries [Member] | BNSF [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Repayments of borrowings | $ 1,540 | |||||||||
Principal amount of debt issued | $ 1,550 | |||||||||
Weighted average interest rate, percentage | 3.10% | 3.10% | 3.10% | 3.10% | ||||||
Railroad, Utilities and Energy [Member] | Senior Unsecured Debenture [Member] | Subsidiaries [Member] | Minimum [Member] | BNSF [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Debt maturity year | 2051 | 2051 | 2051 | |||||||
Railroad, Utilities and Energy [Member] | Senior Unsecured Debenture [Member] | Subsidiaries [Member] | Maximum [Member] | BNSF [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Debt maturity year | 2052 | 2052 | 2052 |
Income taxes - Liabilities (Det
Income taxes - Liabilities (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Income Tax Disclosure [Abstract] | ||
Currently payable (receivable) | $ (482) | $ (276) |
Deferred | 89,679 | 73,261 |
Other | 1,046 | 1,113 |
Income taxes, principally deferred | $ 90,243 | $ 74,098 |
Income taxes - Deferred taxes (
Income taxes - Deferred taxes (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Deferred tax liabilities: | ||
Investments – unrealized appreciation | $ 55,437 | $ 40,181 |
Deferred charges reinsurance assumed | 2,234 | 2,613 |
Property, plant and equipment and equipment held for lease | 31,323 | 30,203 |
Goodwill and other intangible assets | 6,748 | 6,753 |
Other | 4,094 | 3,736 |
Deferred tax liabilities | 99,836 | 83,486 |
Deferred tax assets: | ||
Unpaid losses and loss adjustment expenses | (1,091) | (1,135) |
Unearned premiums | (990) | (900) |
Accrued liabilities | (1,868) | (2,193) |
Regulatory liabilities | (1,349) | (1,421) |
Other | (4,859) | (4,576) |
Deferred tax assets | (10,157) | (10,225) |
Net deferred tax liability | $ 89,679 | $ 73,261 |
Income taxes - Income tax expen
Income taxes - Income tax expense components (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income tax expense: | |||
Federal | $ 20,345 | $ 10,596 | $ 19,069 |
State | (527) | 1,086 | 625 |
Foreign | 1,061 | 758 | 1,210 |
Total income taxes | 20,879 | 12,440 | 20,904 |
Income tax expense: | |||
Current | 5,326 | 5,052 | 5,818 |
Deferred | 15,553 | 7,388 | 15,086 |
Total income taxes | $ 20,879 | $ 12,440 | $ 20,904 |
Income taxes - Income tax exp_2
Income taxes - Income tax expense reconciliation (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income tax expense reconciliation | |||
Earnings before income taxes | $ 111,686 | $ 55,693 | $ 102,696 |
Hypothetical income tax expense computed at the U.S. federal statutory rate | 23,454 | 11,696 | 21,566 |
Dividends received deduction and tax-exempt interest | (457) | (448) | (433) |
State income taxes, less U.S. federal income tax benefit | (417) | 858 | 494 |
U.S. income tax credits | (1,860) | (1,519) | (942) |
Goodwill impairments | 1,977 | 20 | |
Other differences, net | 159 | (124) | 199 |
Total income taxes | $ 20,879 | $ 12,440 | $ 20,904 |
Effective income tax rate | 18.70% | 22.30% | 20.40% |
Income taxes - Narrative (Detai
Income taxes - Narrative (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income Taxes [Line Items] | |||
Income tax liabilities with federal taxing authority settled through year | 2011 | ||
Income tax liabilities with state and foreign jurisdictions estimated settlement year | 2022 | ||
Unrecognized tax benefits | $ 1,046 | $ 1,113 | |
Unrecognized tax benefits that would impact effective tax rate | $ 878 | ||
Tax Equity Investment Funds [Member] | |||
Income Taxes [Line Items] | |||
Income tax expense for uncertain tax positions | $ 60 | $ 377 | |
Tax Equity Investment Funds [Member] | Minimum [Member] | |||
Income Taxes [Line Items] | |||
Income tax benefits from subsidiary investment in tax equity funds generated year | 2015 | ||
Tax Equity Investment Funds [Member] | Maximum [Member] | |||
Income Taxes [Line Items] | |||
Income tax benefits from subsidiary investment in tax equity funds generated year | 2018 | ||
Earliest Tax Year [Member] | |||
Income Taxes [Line Items] | |||
Open tax years | 2012 | ||
Income Tax Examination, Year under Examination | 2014 | ||
Latest Tax Year [Member] | |||
Income Taxes [Line Items] | |||
Open tax years | 2019 | ||
Income Tax Examination, Year under Examination | 2019 |
Fair value measurements - Finan
Fair value measurements - Financial assets and liabilities (Detail) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Investments in fixed maturity securities | $ 16,434 | $ 20,410 | ||
Investments in equity securities | 350,719 | [1] | 281,170 | [2] |
Insurance and Other [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Investments in fixed maturity securities | 16,434 | 20,410 | ||
Investments in equity securities | 350,719 | 281,170 | ||
The Kraft Heinz Company [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Equity method investments, fair value | 11,700 | 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 | 3,303 | 3,403 | ||
Foreign governments [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Investments in fixed maturity securities | 10,994 | 11,338 | ||
Corporate bonds [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Investments in fixed maturity securities | 1,774 | 5,191 | ||
Other [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Investments in fixed maturity securities | 363 | 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 | 339,225 | 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, fair value | 11,683 | 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 | 3,261 | 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 | 10,286 | 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 | 6 | 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] | ||||
Balance sheet liabilities - at fair value | 2 | 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 | 2,178 | 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 | 87,065 | 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 | 42,292 | 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 | 42 | 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 | 708 | 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 | 1,774 | 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 | 363 | 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 | 230 | 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] | ||||
Balance sheet liabilities - at fair value | 51 | 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 | 11,486 | 9,284 | ||
Loans and finance receivables | 19,996 | 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 | 47 | 11 | ||
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 | 93 | 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] | ||||
Balance sheet liabilities - at fair value | 224 | 19 | ||
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Accounts Payable, Accruals and Other Liabilities [Member] | Equity Index Put Options [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Balance sheet liabilities - at fair value | 99 | 1,065 | ||
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 | 350,719 | 281,170 | ||
Loans and finance receivables | 20,751 | 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 | 74,990 | 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 | 39,272 | 41,522 | ||
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, fair value | 13,112 | 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 | 3,303 | 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 | 10,994 | 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 | 1,774 | 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 | 363 | 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 | 329 | 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] | ||||
Balance sheet liabilities - at fair value | 277 | 121 | ||
Fair Value, Measurements, Recurring [Member] | Carrying Value [Member] | Accounts Payable, Accruals and Other Liabilities [Member] | Equity Index Put Options [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Balance sheet liabilities - at fair value | 99 | 1,065 | ||
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 | 350,719 | 281,170 | ||
Loans and finance receivables | 22,174 | 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 | 87,065 | 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 | 42,339 | 46,676 | ||
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, fair value | 11,683 | 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 | 3,303 | 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 | 10,994 | 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 | 1,774 | 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 | 363 | 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 | 329 | 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] | ||||
Balance sheet liabilities - at fair value | 277 | 121 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value [Member] | Accounts Payable, Accruals and Other Liabilities [Member] | Equity Index Put Options [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Balance sheet liabilities - at fair value | $ 99 | $ 1,065 | ||
[1] | Approximately 73% of the aggregate fair value was concentrated in four companies (American Express Company – $24.8 billion; Apple Inc. – $161.2 billion; Bank of America Corporation – $46.0 billion and The Coca-Cola Company – $23.7 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 – $21.9 billion). |
Fair value measurements - Signi
Fair value measurements - Significant unobservable inputs (Detail) - Significant Unobservable Inputs (Level 3) [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
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) | $ (2,452) |
Derivative contract liabilities - Gains (losses) included in earnings | 966 | (159) | 1,484 |
Derivative contract liabilities - Acquisitions, dispositions and settlements | 62 | ||
Derivative contract liabilities - Transfers out of Level 3 | 99 | ||
Derivative contract liabilities - Ending Balance | (1,065) | (968) | |
Equity Securities [Member] | |||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Beginning Balance | 8,978 | 10,405 | 1 |
Gains (losses) included in earnings | 1,902 | (1,426) | 404 |
Acquisitions, dispositions and settlements | 1,100 | 10,000 | |
Transfers out of Level 3 | (500) | (1) | |
Ending Balance | $ 11,480 | $ 8,978 | $ 10,405 |
Fair value measurements - Narra
Fair value measurements - Narrative (Detail) $ in Billions | 1 Months Ended |
Aug. 31, 2019USD ($) | |
Occidental Corporation [Member] | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | |
Acquisition of preferred and common stock warrants | $ 10 |
Fair value measurements - Other
Fair value measurements - Other information (Detail) $ in Millions | 12 Months Ended | |||
Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||||
Investments in equity securities | $ 350,719 | [1] | $ 281,170 | [2] |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||||
Investments in equity securities | 11,486 | $ 9,284 | ||
Significant Unobservable Inputs (Level 3) [Member] | Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member] | Discounted Cash Flow [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||||
Investments in equity securities | 10,864 | |||
Significant Unobservable Inputs (Level 3) [Member] | Common Stock Warrants [Member] | Fair Value, Measurements, Recurring [Member] | Warrant Pricing Model [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||||
Investments in equity securities | $ 616 | |||
Measurement Input, Expected Term | Significant Unobservable Inputs (Level 3) [Member] | Weighted Average | Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member] | Discounted Cash Flow [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||||
Unobservable inputs, term | 7 years | |||
Measurement Input, Expected Term | Significant Unobservable Inputs (Level 3) [Member] | Weighted Average | Common Stock Warrants [Member] | Fair Value, Measurements, Recurring [Member] | Warrant Pricing Model [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||||
Unobservable inputs, term | 7 years | |||
Discount for Transferability Restrictions and Subordination [Member] | Significant Unobservable Inputs (Level 3) [Member] | Weighted Average | Preferred Stock [Member] | Fair Value, Measurements, Recurring [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||||
Unobservable inputs | 0.0372 | |||
Measurement Input, Option Volatility | Significant Unobservable Inputs (Level 3) [Member] | Weighted Average | Common Stock Warrants [Member] | Fair Value, Measurements, Recurring [Member] | Warrant Pricing Model [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||||
Unobservable inputs | 0.37 | |||
[1] | Approximately 73% of the aggregate fair value was concentrated in four companies (American Express Company – $24.8 billion; Apple Inc. – $161.2 billion; Bank of America Corporation – $46.0 billion and The Coca-Cola Company – $23.7 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 – $21.9 billion). |
Common stock - Narrative (Detai
Common stock - Narrative (Detail) | 12 Months Ended | |||
Dec. 31, 2021USD ($)Voteshares | Dec. 31, 2020shares | Dec. 31, 2019shares | Dec. 31, 2018shares | |
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, as amended, permits Berkshire to repurchase 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 Bill 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 | 617,113 | 643,931 | 701,970 | 729,316 |
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 | 1,290,474,503 | 1,350,043,471 | 1,384,481,533 | 1,367,420,074 |
Equivalent Class A [Member] | ||||
Class of Stock [Line Items] | ||||
Shares outstanding | 1,477,429 | 1,543,960 |
Common stock (Detail)
Common stock (Detail) - shares | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Class A [Member] | |||
Class of Stock [Line Items] | |||
Shares issued, beginning balance | 678,523 | 719,307 | 742,213 |
Treasury shares, beginning balance | (34,592) | (17,337) | (12,897) |
Shares outstanding, beginning balance | 643,931 | 701,970 | 729,316 |
Conversions of Class A common stock to Class B common stock and exercises of replacement stock options | (22,906) | ||
Conversions of Class A common stock to Class B common stock | (12,622) | (40,784) | |
Conversions of Class A to Class B common stock, Outstanding | (12,622) | (40,784) | |
Treasury stock acquired | (14,196) | (17,255) | (4,440) |
Shares issued, ending balance | 665,901 | 678,523 | 719,307 |
Treasury shares, ending balance | (48,788) | (34,592) | (17,337) |
Shares outstanding, ending balance | 617,113 | 643,931 | 701,970 |
Class B [Member] | |||
Class of Stock [Line Items] | |||
Shares issued, beginning balance | 1,469,359,852 | 1,408,183,852 | 1,373,558,983 |
Treasury shares, beginning balance | (119,316,381) | (23,702,319) | (6,138,909) |
Shares outstanding, beginning balance | 1,350,043,471 | 1,384,481,533 | 1,367,420,074 |
Conversions of Class A common stock to Class B common stock and exercises of replacement stock options | 34,624,869 | ||
Conversions of Class A common stock to Class B common stock | 18,933,000 | 61,176,000 | |
Conversions of Class A to Class B common stock, Outstanding | 18,933,000 | 61,176,000 | |
Treasury stock acquired | (78,501,968) | (95,614,062) | (17,563,410) |
Shares issued, ending balance | 1,488,292,852 | 1,469,359,852 | 1,408,183,852 |
Treasury shares, ending balance | (197,818,349) | (119,316,381) | (23,702,319) |
Shares outstanding, ending balance | 1,290,474,503 | 1,350,043,471 | 1,384,481,533 |
Common stock (Parenthetical) (D
Common stock (Parenthetical) (Detail) | Dec. 31, 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 |
Revenue from contracts with cus
Revenue from contracts with customers disaggregated by reportable segment and source of revenue (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | $ 191,252 | $ 166,733 | $ 176,512 |
Other revenues | 84,842 | 78,777 | 78,104 |
Total revenues | 276,094 | 245,510 | 254,616 |
Industrial and Commercial Products [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 22,343 | 20,964 | 25,495 |
Building Products [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 19,604 | 15,943 | 15,620 |
Consumer Products [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 18,540 | 14,757 | 14,120 |
Grocery and Convenience Store Distribution [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 31,245 | 30,795 | 33,057 |
Food and Beverage Distribution [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 17,332 | 15,368 | 16,767 |
Auto Sales [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 9,966 | 8,258 | 8,481 |
Other Retail and Wholesale Distribution [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 18,895 | 14,922 | 14,512 |
Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 35,063 | 30,660 | 33,641 |
Electricity and Natural Gas [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 18,264 | 15,066 | 14,819 |
Manufacturing Businesses [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 64,811 | 55,380 | 58,992 |
Other revenues | 3,766 | 3,598 | 3,632 |
Total revenues | 68,577 | 58,978 | 62,624 |
Manufacturing Businesses [Member] | Industrial and Commercial Products [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 22,184 | 20,772 | 25,311 |
Manufacturing Businesses [Member] | Building Products [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 19,604 | 15,943 | 15,620 |
Manufacturing Businesses [Member] | Consumer Products [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 18,540 | 14,757 | 14,120 |
Manufacturing Businesses [Member] | Other Retail and Wholesale Distribution [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 2,997 | 2,452 | 2,299 |
Manufacturing Businesses [Member] | Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 1,486 | 1,456 | 1,642 |
McLane [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 49,328 | 46,747 | 50,363 |
Other revenues | 122 | 93 | 95 |
Total revenues | 49,450 | 46,840 | 50,458 |
McLane [Member] | Grocery and Convenience Store Distribution [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 31,245 | 30,795 | 33,057 |
McLane [Member] | Food and Beverage Distribution [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 17,332 | 15,368 | 16,767 |
McLane [Member] | Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 751 | 584 | 539 |
Service and Retailing [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 30,146 | 24,252 | 24,940 |
Other revenues | 4,601 | 3,859 | 4,459 |
Total revenues | 34,747 | 28,111 | 29,399 |
Service and Retailing [Member] | Industrial and Commercial Products [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 159 | 192 | 184 |
Service and Retailing [Member] | Auto Sales [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 9,966 | 8,258 | 8,481 |
Service and Retailing [Member] | Other Retail and Wholesale Distribution [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 15,898 | 12,470 | 12,213 |
Service and Retailing [Member] | Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 4,123 | 3,332 | 4,062 |
BNSF [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 23,120 | 20,693 | 23,302 |
Other revenues | 57 | 57 | 55 |
Total revenues | 23,177 | 20,750 | 23,357 |
BNSF [Member] | Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 23,120 | 20,693 | 23,302 |
Berkshire Hathaway Energy [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 23,847 | 19,661 | 18,915 |
Other revenues | 1,096 | 1,353 | 1,181 |
Total revenues | 24,943 | 21,014 | 20,096 |
Berkshire Hathaway Energy [Member] | Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 5,583 | 4,595 | 4,096 |
Berkshire Hathaway Energy [Member] | Electricity and Natural Gas [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from contracts with customers | 18,264 | 15,066 | 14,819 |
Insurance, Corporate and Other [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Other revenues | 75,200 | 69,817 | 68,682 |
Total revenues | $ 75,200 | $ 69,817 | $ 68,682 |
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 | Dec. 31, 2021USD ($) |
Electricity and Natural Gas [Member] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Transaction price allocated to remaining performance obligations | $ 23,645 |
Electricity and Natural Gas [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Transaction price allocated to remaining performance obligations | $ 2,607 |
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]: 2023-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Transaction price allocated to remaining performance obligations | $ 21,038 |
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 | $ 3,647 |
Other Sales and Service Contracts [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Transaction price allocated to remaining performance obligations | $ 1,411 |
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]: 2023-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Transaction price allocated to remaining performance obligations | $ 2,236 |
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 | Dec. 31, 2021USD ($) |
Electricity and Natural Gas [Member] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Transaction price allocated to remaining performance obligations | $ 23,645 |
Other Sales and Service Contracts [Member] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Transaction price allocated to remaining performance obligations | $ 3,647 |
Pension plans - Net periodic pe
Pension plans - Net periodic pension expense (Detail) - Pension Plans, Defined Benefit [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Components of net periodic pension expense | |||
Service cost | $ 257 | $ 235 | $ 224 |
Interest cost | 410 | 510 | 618 |
Expected return on plan assets | (1,008) | (955) | (936) |
Amortization of actuarial losses and other | 203 | 171 | 26 |
Net periodic pension expense | $ (138) | $ (39) | $ (68) |
Pension plans - Defined benefit
Pension plans - Defined benefit pension plans - Narrative (Detail) - Pension Plans, Defined Benefit [Member] - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Defined Benefit Plan Disclosure [Line Items] | |||
Projected benefit obligation | $ 18,792 | $ 20,429 | $ 18,706 |
Amounts recognized in the Consolidated Balance Sheets: | |||
Funded status reflected in assets | 1,954 | 1,351 | |
Funded status reflected in liabilities | 2,126 | 3,842 | |
ABO | 17,900 | 19,400 | |
Defined Benefit Plan, Expected Future Benefit Payment [Abstract] | |||
2022 | 1,048 | ||
2023 | 1,006 | ||
2024 | 1,007 | ||
2025 | 1,013 | ||
2026 | 1,014 | ||
2027 - 2031 | 4,948 | ||
Expected contribution to pension plans during the next year | 149 | ||
Unfunded Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Projected benefit obligation | $ 1,400 | $ 1,600 |
Pension plans - Projected benef
Pension plans - Projected benefit obligation, plan assets and net funded status (Detail) - Pension Plans, Defined Benefit [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Benefit obligations | |||
PBO beginning of year | $ 20,429 | $ 18,706 | |
Service cost | 257 | 235 | $ 224 |
Interest cost | 410 | 510 | 618 |
Benefits paid | (1,009) | (994) | |
Settlements | (207) | (75) | |
Actuarial (gains) losses and other | (1,088) | 2,047 | |
PBO end of year | 18,792 | 20,429 | 18,706 |
Plan assets | |||
Plan assets beginning of year | 17,938 | 16,496 | |
Employer contributions | 165 | 196 | |
Benefits paid | (1,009) | (994) | |
Actual return on plan assets | 1,783 | 2,374 | |
Settlements | (207) | (75) | |
Other | (50) | (59) | |
Plan assets end of year | 18,620 | 17,938 | 16,496 |
Funded status – net (asset) liability | 172 | 2,491 | |
Berkshire Hathaway Energy [Member] | |||
Benefit obligations | |||
PBO beginning of year | 5,282 | 4,898 | |
Service cost | 46 | 33 | |
Interest cost | 109 | 133 | |
Benefits paid | (214) | (285) | |
Settlements | (185) | (63) | |
Actuarial (gains) losses and other | (258) | 566 | |
PBO end of year | 4,780 | 5,282 | 4,898 |
Plan assets | |||
Plan assets beginning of year | 5,158 | 4,808 | |
Employer contributions | 41 | 69 | |
Benefits paid | (214) | (285) | |
Actual return on plan assets | 382 | 554 | |
Settlements | (185) | (63) | |
Other | (24) | 75 | |
Plan assets end of year | 5,158 | 5,158 | 4,808 |
Funded status – net (asset) liability | (378) | 124 | |
Other [Member] | |||
Benefit obligations | |||
PBO beginning of year | 15,147 | 13,808 | |
Service cost | 211 | 202 | |
Interest cost | 301 | 377 | |
Benefits paid | (795) | (709) | |
Settlements | (22) | (12) | |
Actuarial (gains) losses and other | (830) | 1,481 | |
PBO end of year | 14,012 | 15,147 | 13,808 |
Plan assets | |||
Plan assets beginning of year | 12,780 | 11,688 | |
Employer contributions | 124 | 127 | |
Benefits paid | (795) | (709) | |
Actual return on plan assets | 1,401 | 1,820 | |
Settlements | (22) | (12) | |
Other | (26) | (134) | |
Plan assets end of year | 13,462 | 12,780 | $ 11,688 |
Funded status – net (asset) liability | $ 550 | $ 2,367 |
Pension plans - Schedule of inf
Pension plans - Schedule of information for plans with PBOs and ABOs in excess of plan assets (Detail) - Pension Plans, Defined Benefit [Member] - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Defined Benefit Plan Disclosure [Line Items] | ||
PBOs | $ 9,643 | $ 12,775 |
Plan assets | 7,518 | 9,018 |
ABOs | 9,111 | 10,875 |
Plan assets | $ 7,429 | $ 7,820 |
Pension plans - Additional tabu
Pension plans - Additional tabular disclosures (Detail) - Pension Plans, Defined Benefit [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate applicable to PBOs | 2.70% | 2.30% | 3.10% |
Expected long-term rate of return on plan assets | 6.10% | 6.20% | 6.40% |
Rate of compensation increase | 2.60% | 2.60% | 2.50% |
Discount rate applicable to net periodic pension expense | 2.40% | 3.10% | 4.00% |
Amounts recognized in other comprehensive income: | |||
Accumulated other comprehensive income (loss), beginning of year | $ (2,251) | $ (1,896) | |
Amount included in net periodic pension expense | 170 | 141 | |
Actuarial gains (losses) and other | 1,596 | (496) | |
Accumulated other comprehensive income (loss), end of year | $ (485) | $ (2,251) | $ (1,896) |
Pension plans - Fair value of p
Pension plans - Fair value of plan assets (Detail) - Pension Plans, Defined Benefit [Member] - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 18,620 | $ 17,938 | $ 16,496 |
Cash and Cash Equivalents [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 992 | 383 | |
Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 11,343 | 11,383 | |
Fixed Maturity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 3,422 | 3,173 | |
Investment Funds and Other [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 2,863 | 2,999 | |
Quoted Prices (Level 1) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 13,665 | 12,778 | |
Quoted Prices (Level 1) [Member] | Cash and Cash Equivalents [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 901 | 243 | |
Quoted Prices (Level 1) [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 10,358 | 10,123 | |
Quoted Prices (Level 1) [Member] | Fixed Maturity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 2,226 | 2,214 | |
Quoted Prices (Level 1) [Member] | Investment Funds and Other [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 180 | 198 | |
Significant Other Observable Inputs (Level 2) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 2,280 | 2,315 | |
Significant Other Observable Inputs (Level 2) [Member] | Cash and Cash Equivalents [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 91 | 140 | |
Significant Other Observable Inputs (Level 2) [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 660 | 851 | |
Significant Other Observable Inputs (Level 2) [Member] | Fixed Maturity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1,168 | 926 | |
Significant Other Observable Inputs (Level 2) [Member] | Investment Funds and Other [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 361 | 398 | |
Significant Unobservable Inputs (Level 3) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 410 | 498 | |
Significant Unobservable Inputs (Level 3) [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 325 | 409 | |
Significant Unobservable Inputs (Level 3) [Member] | Fixed Maturity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 28 | 33 | |
Significant Unobservable Inputs (Level 3) [Member] | Investment Funds and Other [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 57 | 56 | |
Investment Funds and Partnerships at Net Asset Value [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 2,265 | 2,347 | |
Investment Funds and Partnerships at Net Asset Value [Member] | Investment Funds and Other [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 2,265 | $ 2,347 |
Pension plans - Defined contrib
Pension plans - Defined contribution pension plans - Narrative (Detail) - USD ($) $ in Billions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Defined Contribution Plan [Abstract] | |||
Contributions to defined contribution plans | $ 1 | $ 1.4 | $ 1.2 |
Accumulated other comprehensi_3
Accumulated other comprehensive income (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning Balance | $ 443,164 | ||
Other comprehensive income | 99 | $ 905 | $ (275) |
Reclassifications into net earnings | 117 | 95 | 47 |
Ending Balance | 506,199 | 443,164 | |
Unrealized appreciation of fixed maturity securities, net [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning Balance | 536 | 481 | 370 |
Other comprehensive income | (123) | 78 | 160 |
Reclassifications into net earnings | (44) | (23) | (49) |
Ending Balance | 369 | 536 | 481 |
Foreign currency translation [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning Balance | (3,082) | (4,346) | (4,603) |
Other comprehensive income | (1,021) | 1,264 | 257 |
Reclassifications into net earnings | 11 | ||
Ending Balance | (4,092) | (3,082) | (4,346) |
Defined benefit pension plans [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning Balance | (1,645) | (1,369) | (816) |
Other comprehensive income | 1,163 | (385) | (644) |
Reclassifications into net earnings | 135 | 109 | 91 |
Ending Balance | (347) | (1,645) | (1,369) |
Other AOCI transactions [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning Balance | (52) | (9) | 34 |
Other comprehensive income | 80 | (52) | (48) |
Reclassifications into net earnings | 15 | 9 | 5 |
Ending Balance | 43 | (52) | (9) |
Accumulated other comprehensive income [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning Balance | (4,243) | (5,243) | (5,015) |
Ending Balance | $ (4,027) | $ (4,243) | $ (5,243) |
Business segment data - Revenue
Business segment data - Revenues (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Segment Reporting Information [Line Items] | |||
Total revenues | $ 276,094 | $ 245,510 | $ 254,616 |
BNSF [Member] | |||
Segment Reporting Information [Line Items] | |||
Total revenues | 23,177 | 20,750 | 23,357 |
Berkshire Hathaway Energy [Member] | |||
Segment Reporting Information [Line Items] | |||
Total revenues | 24,943 | 21,014 | 20,096 |
Manufacturing Businesses [Member] | |||
Segment Reporting Information [Line Items] | |||
Total revenues | 68,577 | 58,978 | 62,624 |
McLane [Member] | |||
Segment Reporting Information [Line Items] | |||
Total revenues | 49,450 | 46,840 | 50,458 |
Service and Retailing [Member] | |||
Segment Reporting Information [Line Items] | |||
Total revenues | 34,747 | 28,111 | 29,399 |
Operating Businesses [Member] | |||
Segment Reporting Information [Line Items] | |||
Total revenues | 276,421 | 245,358 | 253,997 |
Operating Businesses [Member] | Insurance Group [Member] | |||
Segment Reporting Information [Line Items] | |||
Premiums earned | 69,478 | 63,401 | 61,078 |
Interest, dividend and other investment income | 5,662 | 5,960 | 6,615 |
Total revenues | 75,140 | 69,361 | 67,693 |
Operating Businesses [Member] | Insurance Group [Member] | GEICO [Member] | |||
Segment Reporting Information [Line Items] | |||
Premiums earned | 37,706 | 35,093 | 35,572 |
Operating Businesses [Member] | Insurance Group [Member] | Berkshire Hathaway Reinsurance Group [Member] | |||
Segment Reporting Information [Line Items] | |||
Premiums earned | 20,197 | 18,693 | 16,341 |
Operating Businesses [Member] | Insurance Group [Member] | Berkshire Hathaway Primary Group [Member] | |||
Segment Reporting Information [Line Items] | |||
Premiums earned | 11,575 | 9,615 | 9,165 |
Operating Businesses [Member] | BNSF [Member] | |||
Segment Reporting Information [Line Items] | |||
Total revenues | 23,282 | 20,869 | 23,515 |
Operating Businesses [Member] | Berkshire Hathaway Energy [Member] | |||
Segment Reporting Information [Line Items] | |||
Total revenues | 24,987 | 21,031 | 20,114 |
Operating Businesses [Member] | Manufacturing Businesses [Member] | |||
Segment Reporting Information [Line Items] | |||
Total revenues | 68,730 | 59,079 | 62,730 |
Operating Businesses [Member] | McLane [Member] | |||
Segment Reporting Information [Line Items] | |||
Total revenues | 49,450 | 46,840 | 50,458 |
Operating Businesses [Member] | Service and Retailing [Member] | |||
Segment Reporting Information [Line Items] | |||
Total revenues | 34,832 | 28,178 | 29,487 |
Corporate, Eliminations and Other [Member] | |||
Segment Reporting Information [Line Items] | |||
Total revenues | $ (327) | $ 152 | $ 619 |
Business segment data - Earning
Business segment data - Earnings (loss) before income taxes (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Segment Reporting Information [Line Items] | |||
Investment and derivative gains (losses) | $ 78,542 | $ 40,746 | $ 72,607 |
Interest expense | (4,172) | (4,083) | (3,961) |
Equity method investments | 995 | 726 | 1,176 |
Earnings (loss) before income taxes | 111,686 | 55,693 | 102,696 |
Operating Businesses [Member] | |||
Segment Reporting Information [Line Items] | |||
Earnings (loss) before income taxes from operating businesses | 32,182 | 26,947 | 29,250 |
Interest expense | (3,828) | (3,776) | (3,743) |
Operating Businesses [Member] | Insurance Group [Member] | |||
Segment Reporting Information [Line Items] | |||
Earnings (loss) before income taxes from operating businesses | 6,585 | 6,787 | 7,017 |
Operating Businesses [Member] | Insurance Group [Member] | Insurance Premiums Earned [Member] | |||
Segment Reporting Information [Line Items] | |||
Earnings (loss) before income taxes from operating businesses | 936 | 838 | 417 |
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 | 5,649 | 5,949 | 6,600 |
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 | 1,259 | 3,428 | 1,506 |
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 | (930) | (2,700) | (1,472) |
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 | 607 | 110 | 383 |
Operating Businesses [Member] | BNSF [Member] | |||
Segment Reporting Information [Line Items] | |||
Earnings (loss) before income taxes from operating businesses | 7,861 | 6,792 | 7,250 |
Interest expense | (1,032) | (1,037) | (1,070) |
Operating Businesses [Member] | Berkshire Hathaway Energy [Member] | |||
Segment Reporting Information [Line Items] | |||
Earnings (loss) before income taxes from operating businesses | 3,184 | 2,479 | 2,618 |
Interest expense | (2,054) | (1,941) | (1,835) |
Operating Businesses [Member] | Manufacturing Businesses [Member] | |||
Segment Reporting Information [Line Items] | |||
Earnings (loss) before income taxes from operating businesses | 9,841 | 8,010 | 9,522 |
Interest expense | (704) | (737) | (752) |
Operating Businesses [Member] | McLane [Member] | |||
Segment Reporting Information [Line Items] | |||
Earnings (loss) before income taxes from operating businesses | 230 | 251 | 288 |
Operating Businesses [Member] | Service and Retailing [Member] | |||
Segment Reporting Information [Line Items] | |||
Earnings (loss) before income taxes from operating businesses | 4,481 | 2,628 | 2,555 |
Interest expense | (38) | (61) | (86) |
Segment Reconciling Items [Member] | |||
Segment Reporting Information [Line Items] | |||
Investment and derivative gains (losses) | 78,542 | 40,746 | 72,607 |
Interest expense | (455) | (483) | (416) |
Equity method investments | 995 | 726 | 1,176 |
Goodwill and intangible asset impairments | (10,671) | (96) | |
Corporate, Eliminations and Other [Member] | |||
Segment Reporting Information [Line Items] | |||
Earnings (loss) before income taxes from operating businesses | 422 | (1,572) | 175 |
Interest expense | $ 111 | $ 176 | $ 198 |
Business segment data - Additio
Business segment data - Additional tabular disclosures (Detail) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |||
Segment Reporting Information [Line Items] | |||||
Interest expense | $ 4,172 | $ 4,083 | $ 3,961 | ||
Income tax expense | 20,879 | 12,440 | 20,904 | ||
Capital expenditures | 13,276 | 13,012 | 15,979 | ||
Depreciation of tangible assets | 8,308 | 8,119 | 7,566 | ||
Goodwill at year-end | 73,875 | [1] | 73,734 | [1] | 81,882 |
Assets | 958,784 | 873,729 | 817,729 | ||
Operating Businesses [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Interest expense | 3,828 | 3,776 | 3,743 | ||
Income tax expense | 5,084 | 4,245 | 5,336 | ||
Capital expenditures | 13,276 | 13,012 | 15,979 | ||
Depreciation of tangible assets | 9,465 | 9,319 | 8,747 | ||
Goodwill at year-end | 73,875 | 73,734 | 81,882 | ||
Identifiable assets at year-end | 813,809 | 719,526 | 664,703 | ||
Operating Businesses [Member] | Insurance Group [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Income tax expense | 1,050 | 1,089 | 1,166 | ||
Capital expenditures | 62 | 50 | 108 | ||
Depreciation of tangible assets | 72 | 74 | 82 | ||
Goodwill at year-end | 15,181 | 15,224 | 15,289 | ||
Identifiable assets at year-end | 482,813 | 399,169 | 364,550 | ||
Operating Businesses [Member] | BNSF [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Interest expense | 1,032 | 1,037 | 1,070 | ||
Income tax expense | 1,871 | 1,631 | 1,769 | ||
Capital expenditures | 2,910 | 3,063 | 3,608 | ||
Depreciation of tangible assets | 2,406 | 2,423 | 2,350 | ||
Goodwill at year-end | 14,852 | 14,851 | 14,851 | ||
Identifiable assets at year-end | 76,586 | 73,809 | 73,699 | ||
Operating Businesses [Member] | Berkshire Hathaway Energy [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Interest expense | 2,054 | 1,941 | 1,835 | ||
Income tax expense | (1,177) | (1,010) | (526) | ||
Capital expenditures | 6,611 | 6,765 | 7,364 | ||
Depreciation of tangible assets | 3,584 | 3,376 | 2,947 | ||
Goodwill at year-end | 11,906 | 11,763 | 9,979 | ||
Identifiable assets at year-end | 112,117 | 109,286 | 88,651 | ||
Operating Businesses [Member] | Manufacturing Businesses [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Interest expense | 704 | 737 | 752 | ||
Income tax expense | 2,193 | 1,795 | 2,253 | ||
Capital expenditures | 2,100 | 2,133 | 2,981 | ||
Depreciation of tangible assets | 2,037 | 2,026 | 1,951 | ||
Goodwill at year-end | 25,463 | 25,512 | 34,800 | ||
Identifiable assets at year-end | 107,231 | 104,318 | 104,437 | ||
Operating Businesses [Member] | McLane [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Income tax expense | 61 | 71 | 71 | ||
Capital expenditures | 106 | 98 | 158 | ||
Depreciation of tangible assets | 189 | 204 | 225 | ||
Goodwill at year-end | 232 | 232 | 734 | ||
Identifiable assets at year-end | 6,841 | 6,771 | 6,872 | ||
Operating Businesses [Member] | Service and Retailing [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Interest expense | 38 | 61 | 86 | ||
Income tax expense | 1,086 | 669 | 603 | ||
Capital expenditures | 1,487 | 903 | 1,760 | ||
Depreciation of tangible assets | 1,177 | 1,216 | 1,192 | ||
Goodwill at year-end | 6,241 | 6,152 | 6,229 | ||
Identifiable assets at year-end | 28,221 | 26,173 | 26,494 | ||
Segment Reconciling Items [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Interest expense | 455 | 483 | 416 | ||
Investment and derivative gains/losses, tax | 16,025 | 8,855 | 15,159 | ||
Interest expense, not allocated to segments, tax | (96) | (102) | (88) | ||
Equity method investments, tax | 106 | 57 | 148 | ||
Goodwill at year-end | 73,875 | 73,734 | 81,882 | ||
Corporate, Eliminations and Other [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Interest expense | (111) | (176) | (198) | ||
Income tax expense | (240) | (615) | 349 | ||
Identifiable assets at year-end | $ 71,100 | $ 80,469 | $ 71,144 | ||
[1] | Net of accumulated goodwill impairments of |
Business segment data - Insuran
Business segment data - Insurance premiums by type (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Property/Casualty [Member] | |||
Segment Reporting Information [Line Items] | |||
Premiums written - Direct | $ 53,829 | $ 47,838 | $ 47,578 |
Premiums written - Assumed | 12,461 | 11,533 | 10,214 |
Premiums written - Ceded | (1,015) | (898) | (821) |
Premiums written | 65,275 | 58,473 | 56,971 |
Premiums earned - Direct | 52,139 | 46,418 | 46,540 |
Premiums earned - Assumed | 12,072 | 11,449 | 9,643 |
Premiums earned - Ceded | (1,054) | (907) | (851) |
Premiums earned | 63,157 | 56,960 | 55,332 |
Life/Health [Member] | |||
Segment Reporting Information [Line Items] | |||
Premiums written - Direct | 649 | 510 | 839 |
Premiums written - Assumed | 5,685 | 5,960 | 5,046 |
Premiums written - Ceded | (40) | (42) | (45) |
Premiums written | 6,294 | 6,428 | 5,840 |
Premiums earned - Direct | 649 | 510 | 839 |
Premiums earned - Assumed | 5,713 | 5,973 | 4,952 |
Premiums earned - Ceded | (41) | (42) | (45) |
Premiums earned | $ 6,321 | $ 6,441 | $ 5,746 |
Business segment data - Insur_2
Business segment data - Insurance premiums by geographic area (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Property/Casualty [Member] | |||
Segment Reporting Information [Line Items] | |||
Premiums written | $ 65,275 | $ 58,473 | $ 56,971 |
Life/Health [Member] | |||
Segment Reporting Information [Line Items] | |||
Premiums written | 6,294 | 6,428 | 5,840 |
United States [Member] | Property/Casualty [Member] | |||
Segment Reporting Information [Line Items] | |||
Premiums written | 55,451 | 50,250 | 50,529 |
United States [Member] | Life/Health [Member] | |||
Segment Reporting Information [Line Items] | |||
Premiums written | 2,161 | 2,820 | 2,553 |
Asia Pacific [Member] | Property/Casualty [Member] | |||
Segment Reporting Information [Line Items] | |||
Premiums written | 3,822 | 3,410 | 3,114 |
Asia Pacific [Member] | Life/Health [Member] | |||
Segment Reporting Information [Line Items] | |||
Premiums written | 2,030 | 1,652 | 1,582 |
Western Europe [Member] | Property/Casualty [Member] | |||
Segment Reporting Information [Line Items] | |||
Premiums written | 4,613 | 3,751 | 2,535 |
Western Europe [Member] | Life/Health [Member] | |||
Segment Reporting Information [Line Items] | |||
Premiums written | 1,298 | 1,120 | 908 |
All Other [Member] | Property/Casualty [Member] | |||
Segment Reporting Information [Line Items] | |||
Premiums written | 1,389 | 1,062 | 793 |
All Other [Member] | Life/Health [Member] | |||
Segment Reporting Information [Line Items] | |||
Premiums written | $ 805 | $ 836 | $ 797 |
Business segment data - Narrati
Business segment data - Narrative (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Segment Reporting Information [Line Items] | |||
Sales | $ 276,094 | $ 245,510 | $ 254,616 |
Sales, Service and Leasing Revenues [Member] | |||
Segment Reporting Information [Line Items] | |||
Sales | $ 151,000 | $ 132,300 | $ 140,800 |
United States [Member] | Geographic Concentration [Member] | Sales, Service and Leasing Revenues [Member] | |||
Segment Reporting Information [Line Items] | |||
Concentration percentage | 85.00% | 86.00% | 85.00% |
United States [Member] | Geographic Concentration [Member] | Property, Plant and Equipment and Equipment Held for Lease [Member] | |||
Segment Reporting Information [Line Items] | |||
Concentration percentage | 89.00% | ||
Railroad, Utilities and Energy [Member] | |||
Segment Reporting Information [Line Items] | |||
Sales | $ 48,120 | $ 41,764 | $ 43,453 |
Railroad, Utilities and Energy [Member] | United States [Member] | Geographic Concentration [Member] | Revenues [Member] | |||
Segment Reporting Information [Line Items] | |||
Concentration percentage | 96.00% | 96.00% | 96.00% |
Contingencies and Commitments -
Contingencies and Commitments - Narrative (Detail) $ in Billions | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Other Commitments [Line Items] | |
Purchase commitments - 2022 | $ 8 |
Purchase commitments - 2023 | 4 |
Purchase commitments - 2024 | 3 |
Purchase commitments - 2025 | 2 |
Purchase commitments - 2026 | 2 |
Purchase commitments - After 2026 | 15 |
Estimated cost to acquire certain equity ownership interests of less than wholly-owned subsidiaries | $ 11 |
Pilot Travel Centers LLC [Member] | Berkshire Hathaway Inc. (Parent) [Member] | Agreement to Acquire Additional Interest in 2023 [Member] | |
Other Commitments [Line Items] | |
Percentage of additional interest to be acquired | 41.40% |
Condensed Financial Informati_2
Condensed Financial Information - Balance Sheets (Detail) £ in Millions, $ in Millions, € in Billions, ¥ in Billions | Dec. 31, 2021USD ($) | Dec. 31, 2021EUR (€) | Dec. 31, 2021JPY (¥) | Dec. 31, 2021GBP (£) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) |
Assets: | |||||||
Total assets | $ 958,784 | $ 873,729 | $ 817,729 | ||||
Liabilities and Shareholders’ Equity: | |||||||
Income taxes, principally deferred | 90,243 | 74,098 | |||||
Notes payable and other borrowings | € 6.9 | ¥ 785.5 | £ 1,750 | ||||
Berkshire Hathaway shareholders’ equity | 506,199 | 443,164 | |||||
Total liabilities and shareholders' equity | 958,784 | 873,729 | |||||
Berkshire Hathaway Inc. (Parent) [Member] | |||||||
Assets: | |||||||
Cash and cash equivalents | 18,797 | 12,329 | $ 15,004 | $ 3,437 | |||
Short-term investments in U.S. Treasury Bills | 9,681 | 29,773 | |||||
Investments in and advances to/from consolidated subsidiaries | 486,862 | 411,826 | |||||
Investment in The Kraft Heinz Company | 13,112 | 13,336 | |||||
Other assets | 140 | 108 | |||||
Total assets | 528,592 | 467,372 | |||||
Liabilities and Shareholders’ Equity: | |||||||
Accounts payable, accrued interest and other liabilities | 237 | 369 | |||||
Income taxes, principally deferred | 747 | 1,174 | |||||
Notes payable and other borrowings | 21,409 | 22,665 | |||||
Total liabilities | 22,393 | 24,208 | |||||
Berkshire Hathaway shareholders’ equity | 506,199 | 443,164 | |||||
Total liabilities and shareholders' equity | $ 528,592 | $ 467,372 |
Condensed Financial Informati_3
Condensed Financial Information - Statements of Earnings and Comprehensive Income (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
From consolidated subsidiaries: | |||
Investment gains (losses) | $ 77,576 | $ 40,905 | $ 71,123 |
Equity method earnings | 995 | 726 | 1,176 |
Total revenues | 276,094 | 245,510 | 254,616 |
Cost and expense items: | |||
Interest expense | 4,172 | 4,083 | 3,961 |
Income tax expense | 20,879 | 12,440 | 20,904 |
Total costs and expenses | 243,945 | 231,289 | 225,703 |
Net earnings attributable to Berkshire Hathaway shareholders | 89,795 | 42,521 | 81,417 |
Comprehensive income attributable to Berkshire Hathaway shareholders | 90,011 | 43,521 | 81,189 |
Berkshire Hathaway Inc. (Parent) [Member] | |||
From consolidated subsidiaries: | |||
Dividends and distributions | 13,462 | 26,110 | 15,603 |
Undistributed earnings | 74,819 | 17,402 | 65,237 |
Total income from consolidated subsidiaries | 88,281 | 43,512 | 80,840 |
Investment gains (losses) | 35 | (24) | (125) |
Equity method earnings | 269 | 95 | 493 |
Other income | 73 | 328 | 780 |
Total revenues | 88,658 | 43,911 | 81,988 |
Cost and expense items: | |||
General and administrative | 136 | 194 | 122 |
Interest expense | 444 | 489 | 591 |
Foreign exchange (gains) losses on non-U.S. Dollar denominated debt | (1,281) | 970 | (193) |
Income tax expense | (436) | (263) | 51 |
Total costs and expenses | (1,137) | 1,390 | 571 |
Net earnings attributable to Berkshire Hathaway shareholders | 89,795 | 42,521 | 81,417 |
Other comprehensive income attributable to Berkshire Hathaway shareholders | 216 | 1,000 | (228) |
Comprehensive income attributable to Berkshire Hathaway shareholders | $ 90,011 | $ 43,521 | $ 81,189 |
Condensed Financial Informati_4
Condensed Financial Information - Statements of Cash Flows (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cash flows from operating activities: | |||
Net earnings attributable to Berkshire Hathaway shareholders | $ 89,795 | $ 42,521 | $ 81,417 |
Adjustments to reconcile net earnings to cash flows from operating activities: | |||
Investment gains/losses | (77,576) | (40,905) | (71,123) |
Income taxes payable | 15,297 | 7,195 | 15,181 |
Other, including asset impairment charges | (3,397) | 11,263 | (1,254) |
Net cash flows from operating activities | 39,421 | 39,773 | 38,687 |
Cash flows from investing activities: | |||
Other | 297 | (3,582) | (1,496) |
Net cash flows from investing activities | 29,392 | (37,757) | (5,621) |
Cash flows from financing activities: | |||
Acquisition of treasury stock | (27,061) | (24,706) | (4,850) |
Other | (695) | (429) | (497) |
Net cash flows from financing activities | (28,508) | (18,344) | 730 |
Other cash flow information: | |||
Income taxes paid | 5,412 | 5,001 | 5,415 |
Berkshire Hathaway Inc. (Parent) [Member] | |||
Cash flows from operating activities: | |||
Net earnings attributable to Berkshire Hathaway shareholders | 89,795 | 42,521 | 81,417 |
Adjustments to reconcile net earnings to cash flows from operating activities: | |||
Investment gains/losses | (35) | 24 | 125 |
Undistributed earnings of consolidated subsidiaries | (74,819) | (17,402) | (65,237) |
Non-cash dividends from subsidiaries | (2,126) | (8,296) | |
Income taxes payable | (389) | (72) | (56) |
Other, including asset impairment charges | (1,038) | 1,100 | (693) |
Net cash flows from operating activities | 11,388 | 17,875 | 15,556 |
Cash flows from investing activities: | |||
Investments in and advances to/from consolidated subsidiaries, net | (174) | (1,947) | 60 |
Purchases of U.S. Treasury Bills | (34,988) | (54,715) | (40,107) |
Sales and maturities of U.S. Treasury Bills | 57,296 | 59,035 | 36,943 |
Other | 11 | 737 | |
Net cash flows from investing activities | 22,134 | 2,384 | (2,367) |
Cash flows from financing activities: | |||
Proceeds from borrowings | 2,174 | 2,923 | 3,967 |
Repayments of borrowings | (2,167) | (1,151) | (758) |
Acquisition of treasury stock | (27,061) | (24,706) | (4,850) |
Other | 19 | ||
Net cash flows from financing activities | (27,054) | (22,934) | (1,622) |
Increase (decrease) in cash and cash equivalents | 6,468 | (2,675) | 11,567 |
Cash and cash equivalents at beginning of year | 12,329 | 15,004 | 3,437 |
Cash and cash equivalents at end of year | 18,797 | 12,329 | 15,004 |
Other cash flow information: | |||
Income taxes paid | 3,403 | 3,391 | 3,531 |
Interest paid | $ 377 | $ 359 | $ 364 |
Note to Condensed Financial Inf
Note to Condensed Financial Information - Narrative (Detail) € in Millions, $ in Millions, ¥ in Billions | 1 Months Ended | 12 Months Ended | |||||||
Jan. 31, 2022USD ($) | Jan. 31, 2022JPY (¥) | Dec. 31, 2021USD ($) | Dec. 31, 2021EUR (€) | Dec. 31, 2021JPY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2021EUR (€) | Dec. 31, 2021JPY (¥) | |
Condensed Financial Statements, Captions [Line Items] | |||||||||
Debt maturities: 2022 | $ 6,139 | ||||||||
Debt maturities: 2023 | 10,711 | ||||||||
Debt maturities: 2024 | 6,145 | ||||||||
Debt maturities: 2025 | 6,495 | ||||||||
Debt maturities: 2026 | 5,455 | ||||||||
Insurance and Other [Member] | |||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||
Debt maturities: 2022 | 1,933 | ||||||||
Debt maturities: 2023 | 5,879 | ||||||||
Debt maturities: 2024 | 2,154 | ||||||||
Debt maturities: 2025 | 2,703 | ||||||||
Debt maturities: 2026 | 3,422 | ||||||||
Insurance and Other [Member] | Senior Notes [Member] | Berkshire Hathaway Finance Corporation [Member] | |||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||
Repayments of borrowings | 750 | ||||||||
Berkshire Hathaway Inc. (Parent) [Member] | |||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||
Repayments of borrowings | 2,167 | $ 1,151 | $ 758 | ||||||
Principal amount of debt issued | € 6,900 | ¥ 785.5 | |||||||
Debt maturities: 2022 | 600 | ||||||||
Debt maturities: 2023 | 4,467 | ||||||||
Debt maturities: 2024 | 2,080 | ||||||||
Debt maturities: 2025 | 1,681 | ||||||||
Debt maturities: 2026 | 3,378 | ||||||||
Guarantees of subsidiary debt | 17,000 | ||||||||
Berkshire Hathaway Inc. (Parent) [Member] | Insurance and Other [Member] | Senior Notes [Member] | |||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||
Repayments of borrowings | $ 1,500 | € 550 | |||||||
Berkshire Hathaway Inc. (Parent) [Member] | Insurance and Other [Member] | Senior Notes [Member] | Notes Due 2041 at 0.5% [Member] | |||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||
Principal amount of debt issued | € | € 600 | ||||||||
Debt instrument, interest rate, stated percentage | 0.50% | 0.50% | 0.50% | ||||||
Debt maturity year | 2041 | 2041 | 2041 | ||||||
Berkshire Hathaway Inc. (Parent) [Member] | Insurance and Other [Member] | Senior Notes [Member] | Notes Due Ranging From 2026-2041 at 0.5% [Member] | |||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||
Principal amount of debt issued | $ 1,500 | ¥ 160 | |||||||
Weighted average interest rate, percentage | 0.50% | 0.50% | 0.50% | ||||||
Berkshire Hathaway Inc. (Parent) [Member] | Insurance and Other [Member] | Senior Notes [Member] | Notes Due Ranging From 2026-2041 at 0.5% [Member] | Minimum [Member] | |||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||
Debt maturity year | 2026 | 2026 | 2026 | ||||||
Berkshire Hathaway Inc. (Parent) [Member] | Insurance and Other [Member] | Senior Notes [Member] | Notes Due Ranging From 2026-2041 at 0.5% [Member] | Maximum [Member] | |||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||
Debt maturity year | 2041 | 2041 | 2041 | ||||||
Berkshire Hathaway Inc. (Parent) [Member] | Insurance and Other [Member] | Subsequent Event [Member] | |||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||
Repayments of borrowings | $ 600 | ||||||||
Berkshire Hathaway Inc. (Parent) [Member] | Insurance and Other [Member] | Subsequent Event [Member] | Senior Notes [Member] | Debt Due 2027 To 2052 [Member] | |||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||
Principal amount of debt issued | $ 1,100 | ¥ 128.5 | |||||||
Weighted average interest rate, percentage | 0.50% | 0.50% | |||||||
Berkshire Hathaway Inc. (Parent) [Member] | Insurance and Other [Member] | Subsequent Event [Member] | Senior Notes [Member] | Debt Due 2027 To 2052 [Member] | Minimum [Member] | |||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||
Debt maturity year | 2027 | 2027 | |||||||
Berkshire Hathaway Inc. (Parent) [Member] | Insurance and Other [Member] | Subsequent Event [Member] | Senior Notes [Member] | Debt Due 2027 To 2052 [Member] | Maximum [Member] | |||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||
Debt maturity year | 2052 | 2052 | |||||||
Berkshire Hathaway Inc. (Parent) [Member] | The Kraft Heinz Company [Member] | |||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||
Equity method investment ownership percentage after transactions | 26.60% | 26.60% | 26.60% |