BERKSHIRE HATHAWAY INC.
Selected Financial Data for the Past Five Years
(dollars in millions, except per share data)
1996 1995 * 1994 * 1993 * 1992 *
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Revenues:
Insurance premiums earned . . . . . . . $ 4,117.8 $ 957.5 $ 923.2 $ 650.7 $ 664.3
Sales and service revenues. . . . . . . 3,061.2 2,755.9 2,351.9 1,962.9 1,774.4
Interest and dividend income. . . . . . 811.9 629.2 519.0 520.7 485.5
Income from finance businesses. . . . . 25.3 26.6 24.9 22.2 20.7
Realized investment gain(1) . . . . . . 2,484.1(2) 194.1 91.3 546.4 89.9
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Total revenues. . . . . . . . . . . . . $10,500.3 $4,563.3 $3,910.3 $3,702.9 $3,034.8
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Earnings:
Before realized investment gain and
cumulative effect of accounting change $ 883.4 $ 669.9 $ 491.9(3) $ 520.2(4) $ 400.8
Realized investment gain(1) . . . . . . 1,605.2(2) 125.0 61.1 356.7 59.6
Cumulative effect of change in
accounting for income taxes . . . . . -- -- -- (33.3) --
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Net earnings. . . . . . . . . . . . . . $2,488.6 $ 794.9 $ 553.0 $ 843.6 $ 460.4
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Earnings per share:
Before realized investment gain and
cumulative effect of accounting change $ 732.96 $564.31 $417.66(3) $449.90(4) $349.59
Realized investment gain(1) . . . . . . 1,331.83(2) 105.30 51.88 308.50 51.98
Cumulative effect of change in
accounting for income taxes . . . . . -- -- -- (28.80) --
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Net earnings. . . . . . . . . . . . . . $2,064.79 $669.61 $469.54 $729.60 $401.57
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Year-end data:
Total assets. . . . . . . . . . . . . . $43,409.5 $28,711.4 $20,609.6 $18,697.5 $15,721.5
Borrowings under investment agreements
and other debt(5) . . . . . . . . . . 1,944.4 1,061.7 810.7 972.4 1,154.7
Shareholders' equity 23,426.3 16,738.7 11,651.5 10,140.2 8,132.9
Class A equivalent common shares
outstanding, in thousands . . . . . . 1,232 1,194 1,178 1,178 1,149
Shareholders' equity per outstanding
Class A equivalent share. . . . . . . $ 19,011 $ 14,025 $ 9,893 $ 8,610 $ 7,081
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* Restated - See Note 1(b) to Consolidated Financial Statements.
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(1) The amount of realized investment gain/loss for any given period has
no predictive value, and variations in amount from period to period
have no practical analytical value, particularly in view of the
unrealized appreciation now existing in Berkshire's consolidated
investment portfolio.
(2) In March 1996, The Walt Disney Company completed its acquisition of
Capital Cities/ABC, Inc. A pre-tax realized gain related to this
transaction of $2.2 billion ($1.4 billion after-tax) is included in
1996's results.
(3) Includes a charge of $172.6 million representing an other-than-
temporary decline in value of investment in USAir Group, Inc.
Preferred Stock.
(4) Includes a charge of $53.6 million representing the effect of the
change in U.S. Federal income tax rates on deferred taxes applicable
to unrealized appreciation.
(5) Excludes borrowings of finance businesses.