Log in
Lost password
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  News


Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

Berkshire Hathaway Inc. News Release

05/04/2012 | 05:05pm US/Eastern

Berkshire Hathaway (BRK.A; BRK.B):

Berkshire's operating results for the first quarter of 2012 and 2011 are summarized in the following paragraphs. However, we urge investors and reporters to read our 10-Q, which has been posted at www.berkshirehathaway.com. The limited information that follows in this press release is not adequate for making an informed investment judgment.

Earnings of Berkshire Hathaway Inc. and its consolidated subsidiaries for the first quarter of 2012 and 2011 are summarized below. Earnings are stated on an after-tax basis. (Dollar amounts are in millions, except for per share amounts).


First Quarter




Operating earnings $ 2,665   $ 1,593  
Investment and derivative gains (losses) -
Sales of investments 149 64
Other-than-temporary impairments of investments * (219 ) (322 )
Derivatives   650     176  
  580     (82 )
Net earnings attributable to Berkshire shareholders $ 3,245   $ 1,511  
*   Other-than-temporary impairment losses were offset by a corresponding increase in other comprehensive income. Thus the recognition of these losses during the first quarter had no impact on consolidated shareholders' equity.
Operating earnings per Class A equivalent share   $ 1,615   $ 966
Investment and derivative gains (losses) per Class A equivalent share   351   (49 )

Net earnings per Class A equivalent share attributable to
  Berkshire shareholders





Average Class A equivalent shares outstanding 1,650,944 1,648,411

Note: Per share amounts for the Class B shares are 1/1,500th of those shown for the Class A.

An analysis of Berkshire's operating earnings follows (dollar amounts are in millions).


First Quarter




Insurance-underwriting $ 54




Insurance-investment income 791 952
Non-insurance businesses 1,997 1,562
Other   (177 )   (100 )
Operating earnings $ 2,665   $ 1,593  
*   Includes estimated after-tax losses from catastrophes (earthquakes in Japan and New Zealand and floods and a cyclone in Australia) of approximately $1.1 billion.

In the table at the top of the page (which, as noted, reports after-tax results), we give investment and derivative gains (losses) lines of their own because the amounts of these in any given quarter or year is usually meaningless.

Use of Non-GAAP Financial Measures

This press release includes certain non-GAAP financial measures. The reconciliations of such measures to the most comparable GAAP figures in accordance with Regulation G are included herein.

Berkshire presents its results in the way it believes will be most meaningful and useful, as well as most transparent, to the investing public and others who use Berkshire's financial information. That presentation includes the use of certain non-GAAP financial measures. In addition to the GAAP presentations of net earnings, Berkshire shows operating earnings defined as net earnings exclusive of investment and derivative gains/losses.

Although the investment of insurance and reinsurance premiums to generate investment income and investment gains or losses is an integral part of Berkshire's operations, the generation of investment gains or losses is independent of the insurance underwriting process. Moreover, under applicable GAAP accounting requirements, losses can be created as the result of other-than-temporary declines in value without actual realization or when certain types of investments are marked-to-market through earnings. In sum, investment and derivative gains/losses for any particular period are not indicative of quarterly business performance.

About Berkshire

Berkshire Hathaway and its subsidiaries engage in diverse business activities including property and casualty insurance and reinsurance, utilities and energy, freight rail transportation, finance, manufacturing, retailing and services. Common stock of the company is listed on the New York Stock Exchange, trading symbols BRK.A and BRK.B.

Cautionary Statement

Certain statements contained in this press release are "forward looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are not guaranties of future performance and actual results may differ materially from those forecasted.

Berkshire Hathaway
Marc D. Hamburg, 402-346-1400

© Business Wire 2012
React to this article
Latest news
Date Title
02:12a German industry orders unexpectedly fall in August
02:11a KYOCERA : Announces Resolution of Patent Infringement Lawsuit Against Hanwha Q CELLS Japan Co., Ltd.
02:11a ELEVAATE : Strengthens Leadership Team with Addition of David Shearer as VP Marketing
02:10a BANK OF JAPAN : Asian stocks rise as investors hold out for more Japan stimulus, delay in US rate hike
02:09a TELIASONERA : executes on new strategy – Teo and Omnitel join forces
02:09a INNATE PHARMA : Opening of the Phase I/II trial of IPH2201 in combination with ibrutinib in patients with relapsed or refractory chronic lymphocytic leukemia
02:09a METSO : presents its industry-leading minerals processing solutions at the MENA Mining Show in Dubai, United Arab Emirates
02:09a PRESIDENT ENERGY : Acquisition of remaining 36% of Pirity Concession, Paraguay
02:09a SWISSCOM : teams up with Bryan Adams to launch special digital photo project
02:09a QUBE : Change of Registered Office Address
Latest news
Hot News 
XCHANGING : Takeover talk ; companies today
APR ENERGY : Reveals it is in takeover talks
HARGREAVES SERVICES : will back any viable Redcar rescue bid ; ENERGY
DEERE MPANY : Whirlpool reach labor deals
Peltz Asks Little of GE, for Now
Most Read News
10/05 PSA PHILIPPINE STATISTICS AUTHORITY : Producer Price Survey : August 2015
10/05 UNIVERSITY OF ADELAIDE : Tequila plant shows promise for biofuel
10/05 British Airways' last flight out of Uganda
10/05 QT Vascular Announces Interim Clinical Trial Results Of Chocolate Touch
10/05 Allocadia's Twin Co-Founders Named to Forty Under 40 List by BIV
Most recommended articles
02:12a German industry orders unexpectedly fall in August
02:08a Asian shares rise on fading Fed rate views
02:06a Samsung Electronics struggles to find fix for smartphone woes
02:06a VW's South Korea Sept sales fall 7.8 percent vs Aug as emissions scandal weighs
02:03a VW's South Korea September sales fall 7.8 percent vs August as emissions scandal weighs