BERKSHIRE HATHAWAY INC.

Selected Financial Data for the Past Five Years
(dollars in millions, except per share data)

1998

 

1997

 

1996

 

1995

 

1994

Revenues:

 

 

 

 

 

 

 

 

 

Insurance premiums earned . . . . . . . . . . . . .

$ 5,481

 

$ 4,761

 

$ 4,118

 

$ 957

 

$ 923

Sales and service revenues . . . . . . . . . . . . .

4,675

 

3,615

 

3,095

 

2,756

 

2,352

Interest, dividend and other investment income

1,049

 

916

 

778

 

629

 

519

Income from finance and financial products
     businesses . . . . . . . . . . . . . . . . . . . . . . . .

212

 

32

 

25

 

27

 

25

Realized investment gain (1) . . . . . . . . . . . . .

   2,415

 

   1,106

(2)

   2,484

(3)

      194

 

       91

Total revenues . . . . . . . . . . . . . . . . . . . . . . . .

$13,832

 

$10,430

 

$10,500

 

$ 4,563

 

$3,910

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Earnings:

                  

Before realized investment gain . . . . . . . . . .

$ 1,277

 

$ 1,197

 

$ 884

 

$670

 

$492

Realized investment gain (1) . . . . . . . . . . . . .

   1,553

  

     704

(2)

   1,605

(3)

    125

 

       61

Net earnings . . . . . . . . . . . . . . . . . . . . . . . . .

$ 2,830

 

$ 1,901

 

$ 2,489

 

$795

 

$553

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Earnings per share:

 

 

 

 

 

 

 

 

 

Before realized investment gain . . . . . . . . . .

$ 1,021

 

$ 971

 

$ 733

 

$565

 

$417

Realized investment gain (1) . . . . . . . . . . . . .

   1,241

 

      571

(2)

   1,332

(3)

    105

 

     52

Net earnings . . . . . . . . . . . . . . . . . . . . . . . .

$ 2,262

 

$ 1,542

 

$ 2,065

 

$670

 

$469

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Year-end data (4):

                  

Total assets . . . . . . . . . . . . . . . . . . . . . . . .

$122,237

 

$56,111

 

$43,409

 

$28,711

  

 $20,610

Borrowings under investment agreements

                 

     and other debt (5) . . . . . . . . . . . . . . . . . .

2,385

  

2,267

 

1,944

 

1,062

  

 811

Shareholders' equity . . . . . . . . . . . . . . . . . .

57,403

  

 31,455

 

23,427

 

16,739

 

11,651

Class A equivalent common shares

 

 

  

 

 

 

 

    

     outstanding, in thousands . . . . . . . . . . . .

1,519

  

1,234

 

1,232

 

1,194

  

1,178

Shareholders' equity per outstanding

 

        

 

 

    

     Class A equivalent share . . . . . . . . . . . . .

$ 37,801

  

$25,488

 

$19,011

 

$14,025

  

$ 9,893
 

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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 November 1997, Travelers Group Inc. completed its acquisition of Salomon Inc. A pre-tax realized gain of $678 million ($427 million after-tax) is included in 1997's results.
  3. 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.
  4. Year-end data for 1998 includes General Re Corporation acquired by Berkshire on December 21, 1998.
  5. Excludes borrowings of finance businesses.