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2019 SEC Form 10-K (PDF File)
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-14905 BERKSHIRE HATHAWAY INC. (Exact name of Registrant as specified in its charter) Delaware 47-0813844 State or other jurisdiction of (I.R.S. Employer incorporation or organization Identification No.) 3555 Farnam Street, Omaha, Nebraska 68131 (Address of principal executive office) (Zip Code) Registrant’s telephone number, including area code (402) 346-1400 Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbols Name of each exchange on which registered Class A Common Stock BRK.A New York Stock Exchange Class B Common Stock BRK.B New York Stock Exchange 0.750% Senior Notes due 2023 BRK23 New York Stock Exchange 1.125% Senior Notes due 2027 BRK27 New York Stock Exchange 1.625% Senior Notes due 2035 BRK35 New York Stock Exchange 0.500% Senior Notes due 2020 BRK20 New York Stock Exchange 1.300% Senior Notes due 2024 BRK24 New York Stock Exchange 2.150% Senior Notes due 2028 BRK28 New York Stock Exchange 0.250% Senior Notes due 2021 BRK21 New York Stock Exchange 0.625% Senior Notes due 2023 BRK23A New York Stock Exchange 2.375% Senior Notes due 2039 BRK39 New York Stock Exchange 2.625% Senior Notes due 2059 BRK59 New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: NONE Indicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. -
Unione Italiana Reinsurance Company of America, Inc
REPORT ON EXAMINATION OF THE UNIONE ITALIANA REINSURANCE COMPANY OF AMERICA, INC. AS OF DECEMBER 31, 2009 DATE OF REPORT FEBRUARY 8, 2011 EXAMINER RYAN HAVICK TABLE OF CONTENTS ITEM NO. PAGE NO. 1. Scope of examination 2 2. Description of Company 3 A. Management 3 B. Territory and plan of operation 5 C. Reinsurance 6 D. Holding company system 6 E. Significant operating ratios 8 F. Accounts and records 8 G. Risk management and internal controls 9 3. Financial statements 10 A. Balance sheet 10 B. Underwriting and investment exhibit 12 4. Losses and loss adjustment expenses 13 5. Compliance with prior report on examination 14 6. Summary of comments and recommendations 16 Appendix A STATE OF NEW YORK INSURANCE DEPARTMENT 25 BEAVER STREET NEW YORK, NEW YORK 10004 February 9, 2011 Honorable James J. Wrynn Superintendent of Insurance Albany, New York 12257 Sir: Pursuant to the requirements of the New York Insurance Law, and in compliance with the instructions contained in Appointment Number 30525 dated May 18, 2010 attached hereto, I have made an examination into the condition and affairs of Unione Italiana Reinsurance Company of America, Inc. as of December 31, 2009, and submit the following report thereon. Wherever the designations “the Company” or “UIRCA” appears herein without qualifications, they should be understood to indicate Unione Italiana Reinsurance Company of America, Inc. Wherever the term “Department” appears herein without qualification, it should be understood to mean the New York Insurance Department. The examination was conducted at the Company’s main administrative office located at 3024 Harney Street, Omaha, Nebraska 68131. -
Insurance Industry Report June 23 - September 20, 2019
Insurance Industry Report June 23 - September 20, 2019 Current 30-Day Industry Health Score 756 10,253 17,547 Companies Insights Articles Stories 90-Day Range +2 +3 +3 90-Day Trend HEALTH SCORE 90-Day Insights Volume Summary 1026 Management 266 +2 Factor Health 580 2981 Financials 447 +2 Factor Health 2006 364 Operations 87 +1 Factor Health 273 478 Products & Services 171 +4 Factor Health 130 862 Partners & Competitors 70 +7 Factor Health 100 171 Government 113 +2 Factor Health 82 Management | Top 5 Insights Stories for Management Wellcare Health Plans, Inc. Management Centene, WellCare shareholders approve $17.3B merger The $17.3 billion planned merger of Centene Corp. and WellCare Health Plans received approval Monday by shareholders of both companies – leaving the deal to now face federal and state regulators before it can be nalized. June 24, 2019 via Biz Journal - Healthcare 20 Articles in this Story Part of Storyline: “Centene, WellCare shareholders approve $17.3B merger” 31 Articles over 35 days from May 24 to June 27, 2019 Suncorp Group Limited Management Suncorp appoints Steve Johnston as CEO, performance in focus Suncorp has appointed Steve Johnston as its next chief executive, with the new leader saying the conglomerate will focus on boosting performance. September 8, 2019 via The Sydney Morning Herald (SMH) - Headlines 18 Articles in this Story Part of Storyline: “Suncorp appoints Steve Johnston as CEO, performance in focus” 25 Articles over 4 days from September 8 to September 11, 2019 Aegon N.V. Management Lard Friese to succeed Alex Wynaendts as Aegon's CEO THE HAGUE, Netherlands--(BUSINESS WIRE)--Regulatory News: Aegon announces that its Supervisory Board intends to propose the appointment of Lard Friese as Chief Executive Ofcer to the Annual General Meeting of Shareholders. -
The Competitive Advantages of Buffett & Munger Businesses
Moats The Competitive Advantages Of Buffett & Munger Businesses By Bud Labitan 20/70 Chapters, Abridged Edition Released Free Of Charge Copyright © 2012 All rights reserved. Printed in the United States of America. No part of this book may be used or reproduced in any manner without permission. ISBN 978-1105422867 1 2 A truly great business must have an enduring “moat” that protects excellent returns on invested capital. ~ Warren Buffett How do you compete against a true fanatic? You can only try to build the best possible moat and continuously attempt to widen it. ~ Charlie Munger 3 4 TABLE OF CONTENTS INTRODUCTION CHAPTER 1: ACME BRICK COMPANY CHAPTER 2: AMERICAN EXPRESS CO. (AXP) CHAPTER 3: APPLIED UNDERWRITERS CHAPTER 4: BEN BRIDGE JEWELER CHAPTER 5: BENJAMIN MOORE & CO. CHAPTER 6: BERKSHIRE HATHAWAY GROUP CHAPTER 7: BERKSHIRE HATHAWAY HOMESTATE COMPANIES CHAPTER 8: BOATU.S. CHAPTER 9: BORSHEIMS FINE JEWELRY CHAPTER 10: BUFFALO NEWS CHAPTER 11: BURLINGTON NORTHERN SANTA FE CORP. CHAPTER 12: BUSINESS WIRE CHAPTER 13: BYD CHAPTER 14: CENTRAL STATES INDEMNITY COMPANY CHAPTER 15: CLAYTON HOMES CHAPTER 16: COCA COLA (KO) CHAPTER 17: CONOCOPHILLIPS (COP) CHAPTER 18: CORT BUSINESS SERVICES 5 CHAPTER 19: COSTCO WHOLESALE (COST) CHAPTER 20: CTB INC. CHAPTER 21: FECHHEIMER BROTHERS COMPANY CHAPTER 22: FLIGHTSAFETY CHAPTER 23: FOREST RIVER CHAPTER 24: FRUIT OF THE LOOM® CHAPTER 25: GARAN INCORPORATED CHAPTER 26: GATEWAY UNDERWRITERS AGENCY CHAPTER 27: GEICO AUTO INSURANCE CHAPTER 28: GENERAL RE CHAPTER 29: H.H. BROWN SHOE GROUP CHAPTER 30: HELZBERG DIAMONDS CHAPTER 31: HOMESERVICES OF AMERICA CHAPTER 32: IBM CHAPTER 33: INTERNATIONAL DAIRY QUEEN, INC. -
Annual Report
BERKSHIRE HATHAWAY INC. 2007 ANNUAL REPORT TABLE OF CONTENTS Business Activities........................................................Inside Front Cover Corporate Performance vs. the S&P 500 ................................................ 2 Chairman’s Letter* ................................................................................. 3 Acquisition Criteria ................................................................................23 Selected Financial Data For The Past Five Years ..................................................................................23 Management’s Report on Internal Control Over Financial Reporting ...................................................................24 Report of Independent Registered Public Accounting Firm...................24 Consolidated Financial Statements.........................................................25 Management’s Discussion ......................................................................51 Owner’s Manual .....................................................................................70 Common Stock Data...............................................................................75 Operating Companies .............................................................................76 Directors and Officers of the Company.........................Inside Back Cover *Copyright © 2008 By Warren E. Buffett All Rights Reserved Business Activities Berkshire Hathaway Inc. is a holding company owning subsidiaries that engage in a number of diverse business activities -
2013 ANNUAL REPORT Business Activities Berkshire Hathaway Inc
BERKSHIRE HATHAWAY INC. 2013 ANNUAL REPORT Business Activities Berkshire Hathaway Inc. is a holding company owning subsidiaries that engage in a number of diverse business activities including insurance and reinsurance, freight rail transportation, utilities and energy, finance, manufacturing, services and retailing. Included in the group of subsidiaries that underwrite insurance and reinsurance is GEICO, the second largest private passenger auto insurer in the United States and two of the largest reinsurers in the world, General Re and the Berkshire Hathaway Reinsurance Group. Other subsidiaries that underwrite property and casualty insurance include: National Indemnity Company, Berkshire Hathaway Homestate Insurance Companies, Medical Protective Company, Applied Underwriters, U.S. Liability Insurance Company, Central States Indemnity Company, BoatU.S., the Guard Insurance Group and Berkshire Hathaway Specialty Insurance Company. Burlington Northern Santa Fe (“BNSF”) operates one of the largest railroad systems in North America. In serving the Midwest, Pacific Northwest and the Western, Southwestern and Southeastern regions and ports of the U.S., BNSF transports a range of products and commodities derived from manufacturing, agricultural and natural resource industries. MidAmerican Energy Holdings Company (“MidAmerican”) is an international energy holding company owning a wide variety of operating companies engaged in the generation, transmission and distribution of energy. MidAmerican’s principal operating energy companies are: MidAmerican Energy Company, PacifiCorp and NV Energy; Northern Powergrid; Kern River Gas Transmission Company and Northern Natural Gas; and MidAmerican Renewables. In addition, MidAmerican owns HomeServices of America, a real estate brokerage firm. Numerous business activities are conducted through Berkshire’s manufacturing services, retailing and finance subsidiaries. The Marmon Group is an international association of approximately 160 manufacturing and service businesses that operate independently within diverse business sectors. -
US$24.08Bil US$210.82Bil US$219120
STARBIZWEEK, SATURDAY 30 APRIL 2016 8 infographic Woodstock of capitalism Warren Buffett and Berkshire Hathaway Inc will this weekend welcome tens of thousands of people to Omaha for the company’s annual shareholder gathering, which Buffett calls “Woodstock for Capitalists.” It almost wasn’t to be. Prior to taking over Berkshire on May 10, 1965, Buffett had planned to sell back his shares in what was then a struggling textile company. But he got angry when the term sheet showed a price 12-1/2 cents a share less than he agreed to. He responded by buying all the shares he could, until he won control. Fifty-one years later, Berkshire is an energy, insurance, manufacturing, railroad, retailing and investment empire with close to 90 companies, well over US$100bil of common stock investments, and a market value around US$364bil. FACTS ABOUT WARREN BUFFETT Born: August 30, 1930 (But likes steak, hamburger, Cherry Coke and See’s Candies, and says he eats like a 6-year-old.) Education: University of Nebras- ka-Lincoln, Columbia Business School Net worth: US$69.3 billion on April 27, 2016, ranking third worldwide. Berkshire ownership stake: 18.8% as of March 2, 2016 Berkshire voting power: US$ 33% as of March 2, 2016 200,000 Annual salary at Berkshire: US$100,000 BERKSHIRE INFORMATION Net income: Famous Buffett quotation: US$24.08bil 150,000 up 21% from 2014 Revenue: US$210.82bil 100,000 up 8% from 2014 - Sept. 4, 1991 testimony before 50,000 Congress about Salomon Inc, where Stock price: Buffett became interim chairman to restore order after a Treasury US$219,120 auction bidding scandal. -
Berkshire Hathaway Annual Shareholders Meeting May 1, 2010
Berkshire Hathaway Annual Shareholders Meeting May 1, 2010 Visitor’s Guide Picnic Table Of CDFnts ADA Information . 7 Restaurants Bookworm . 7 Central & West Omaha . 27 - 30 Borsheims Direct Express . 7 & 11 Downtown & Old Market . 26 & 27 Borsheims Shopping Day . 6 Steakhouses . 25 Dairy Queen Locations. 15 Seat Saving . .8 Exhibitor Listing . 13 - 15 Shareholder Discount Period . 3 F.A.Qs . 8 Shareholder Events/Addresses . 3 Gorat’s/Piccolo’s . 6 Shareholder Services . 4 Hotel Accommodations . 24 Shipping Service (Send You Packin’) . 8 Local Transportation . 11 Shuttle Service - Borsheims/Friday . 5 Lunch Tickets . 4 Shuttle Service/Saturday . 10, 11 Maps/Directions . 4 Store Hours . 3 Meeting Credentials . 4 Student Seating. .8 Microphone Manners . 9 Travel . 8 NetJets Tour . 6 Berkyville Picnic (NFM). 6 Omaha Points of Interest . 16 - 23 Weekend Events . 3 Q & A Period. .9 Friday . 5 Qwest Property Map . 12 Saturday . 5 & 6 Recording & Photography Restrictions. 7 Sunday . 6 Wendy Jane Bantam www.WendyBantam.com The Sidewalk “Chalk” Art displayed throughout the Qwest Center’s exhibit hall floor and on the 10th Street corridor in front of the Qwest Center, are original paintings by Wendy Jane Bantam. These pieces were inspired by our “Saturday In The Park” theme. Wendy is a local artist who was born in the Nebraska Sandhills and now works out of her home studio in Lincoln, Nebraska. Wendy exhibits her work internationally and lectures on creativity and critical thinking. She received her Masters of Fine Art from the University of Nebraska-Lincoln. Her research in painting and storytelling has taken her to Indonesia, England, and extensively throughout the United States. -
2008 ANNUAL REPORT Business Activities Berkshire Hathaway Inc
BERKSHIRE HATHAWAY INC. 2008 ANNUAL REPORT Business Activities Berkshire Hathaway Inc. is a holding company owning subsidiaries that engage in a number of diverse business activities including property and casualty insurance and reinsurance, utilities and energy, finance, manufacturing, services and retailing. Included in the group of subsidiaries that underwrite property and casualty insurance and reinsurance is GEICO, the third largest auto insurer in the United States and two of the largest reinsurers in the world, General Re and the Berkshire Hathaway Reinsurance Group. Other subsidiaries that underwrite property and casualty insurance include National Indemnity Company, Medical Protective Company, Applied Underwriters, U.S. Liability Insurance Company, Central States Indemnity Company, Kansas Bankers Surety, Cypress Insurance Company, BoatU.S. and several other subsidiaries referred to as the “Homestate Companies.” MidAmerican Energy Holdings Company (“MidAmerican”) is an international energy holding company owning a wide variety of operating companies engaged in the generation, transmission and distribution of energy. Among MidAmerican’s operating energy companies are Northern Electric and Yorkshire Electricity; MidAmerican Energy Company; Pacific Power and Rocky Mountain Power; and Kern River Gas Transmission Company and Northern Natural Gas. In addition, MidAmerican owns HomeServices of America, a real estate brokerage firm. Berkshire’s finance and financial products businesses primarily engage in proprietary investing strategies (BH Finance), commercial and consumer lending (Berkshire Hathaway Credit Corporation and Clayton Homes) and transportation equipment and furniture leasing (XTRA and CORT). McLane Company is a wholesale distributor of groceries and nonfood items to convenience stores, wholesale clubs, mass merchandisers, quick service restaurants and others. The Marmon Group is an international association of approximately 130 manufacturing and service businesses that operate independently within diverse business sectors. -
United States Securities and Exchange Commission Form
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-14905 BERKSHIRE HATHAWAY INC. (Exact name of Registrant as specified in its charter) Delaware 47-0813844 State or other jurisdiction of (I.R.S. Employer incorporation or organization Identification No.) 3555 Farnam Street, Omaha, Nebraska 68131 (Address of principal executive office) (Zip Code) Registrant’s telephone number, including area code (402) 346-1400 Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbols Name of each exchange on which registered Class A Common Stock BRK.A New York Stock Exchange Class B Common Stock BRK.B New York Stock Exchange 0.750% Senior Notes due 2023 BRK23 New York Stock Exchange 1.125% Senior Notes due 2027 BRK27 New York Stock Exchange 1.625% Senior Notes due 2035 BRK35 New York Stock Exchange 1.300% Senior Notes due 2024 BRK24 New York Stock Exchange 2.150% Senior Notes due 2028 BRK28 New York Stock Exchange 0.625% Senior Notes due 2023 BRK23A New York Stock Exchange 0.000% Senior Notes due 2025 BRK25 New York Stock Exchange 2.375% Senior Notes due 2039 BRK39 New York Stock Exchange 0.500% Senior Notes due 2041 BRK41 New York Stock Exchange 2.625% Senior Notes due 2059 BRK59 New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: NONE Indicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. -
The Competitive Advantages of Buffett & Munger
Moats The Competitive Advantages Of Buffett & Munger Businesses By Bud Labitan First Edition Copyright © 2012 All rights reserved. Printed in the United States of America. No part of this book may be used or reproduced in any manner without permission. ISBN 978-1-105-41808-2 1 2 A truly great business must have an enduring “moat” that protects excellent returns on invested capital. ~ Warren Buffett How do you compete against a true fanatic? You can only try to build the best possible moat and continuously attempt to widen it. ~ Charlie Munger 3 4 TABLE OF CONTENTS INTRODUCTION CHAPTER 1: ACME BRICK COMPANY CHAPTER 2: AMERICAN EXPRESS CO. (AXP) CHAPTER 3: APPLIED UNDERWRITERS CHAPTER 4: BEN BRIDGE JEWELER CHAPTER 5: BENJAMIN MOORE & CO. CHAPTER 6: BERKSHIRE HATHAWAY GROUP CHAPTER 7: BERKSHIRE HATHAWAY HOMESTATE COMPANIES CHAPTER 8: BOATU.S. CHAPTER 9: BORSHEIMS FINE JEWELRY CHAPTER 10: BUFFALO NEWS CHAPTER 11: BURLINGTON NORTHERN SANTA FE CORP. CHAPTER 12: BUSINESS WIRE CHAPTER 13: BYD CHAPTER 14: CENTRAL STATES INDEMNITY COMPANY CHAPTER 15: CLAYTON HOMES CHAPTER 16: COCA COLA (KO) CHAPTER 17: CONOCOPHILLIPS (COP) CHAPTER 18: CORT BUSINESS SERVICES 5 CHAPTER 19: COSTCO WHOLESALE (COST) CHAPTER 20: CTB INC. CHAPTER 21: FECHHEIMER BROTHERS COMPANY CHAPTER 22: FLIGHTSAFETY CHAPTER 23: FOREST RIVER CHAPTER 24: FRUIT OF THE LOOM® CHAPTER 25: GARAN INCORPORATED CHAPTER 26: GATEWAY UNDERWRITERS AGENCY CHAPTER 27: GEICO AUTO INSURANCE CHAPTER 28: GENERAL RE CHAPTER 29: H.H. BROWN SHOE GROUP CHAPTER 30: HELZBERG DIAMONDS CHAPTER 31: HOMESERVICES OF AMERICA CHAPTER 32: IBM CHAPTER 33: INTERNATIONAL DAIRY QUEEN, INC. CHAPTER 34: ISCAR METALWORKING COMPANIES CHAPTER 35: JOHNS MANVILLE CHAPTER 36: JOHNSON & JOHNSON (JNJ) CHAPTER 37: JORDAN'S FURNITURE CHAPTER 38: JUSTIN BRANDS CHAPTER 39: KRAFT FOODS (KFT) 6 CHAPTER 40: LARSON-JUHL CHAPTER 41: LUBRIZOL CHAPTER 42: M&T BANK CORP (M&T BANK) CHAPTER 43: MARMON HOLDINGS, INC. -
Helzberg Diamonds 15.5-Year Corporate Net Lease | Berkshire Hathaway Company
53,385 VPD 69 110 35 N CHURCH ROAD NE BARRY ROAD 152 44,686 VPD HELZBERG DIAMONDS 15.5-YEAR CORPORATE NET LEASE | BERKSHIRE HATHAWAY COMPANY KANSAS CITY, MO Contact the team JOHN ANDREINI [email protected] PH: 415.274.2715 CA DRE# 01440360 KIRBY DEDERIAN [email protected] PH: 415.231.0598 CA DRE# 02095008 IN CONJUNCTION WITH MO LICENSED BROKER: Adam S. Blue Elevate Property Advisors 913.914.7010 [email protected] This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. 2 Investment Overview HELZBERG DIAMONDS 9300 NORTHEAST BARRY ROAD, KANSAS CITY, MO 64157 $3,212,000 6.00% PRICE CAP LEASE TYPE: NN LEASE (LL ROOF & STRUCTURE) LEASE TERM: 15.5 YEARS LEASABLE SF: 3,212 SF LAND AREA: 1.07 ACRES NOI: $192,720 YEAR BUILT: 2003 15.5-year corporate net lease in Kansas City 10% rent bumps every 5 years and three 5-year options Helzberg has been owned by Berkshire Hathaway (Warren Buffet) for 25 years and is headquartered in Kansas City Pad to Target & Home Depot-anchored center Just 0.4 miles from Highway 35 (54,544 VPD) This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.