Berkshire Hathaway Inc.

NYSE-BRK.A

Operating Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Net Income	67,744	63,360	81,401	89,561	107,568	68,521
Net Earnings
Depreciation & Amortization	13,210	12,637	12,952	12,855	12,701	15,141
Depreciation and Amortization
Other Adjustments	-35,219	-38,689	-55,491	-65,040	-90,709	-44,687
Investment Gains
Discount Accretion on Investments, Principally U.S. Treasury Bills
Other
Changes in Trade Receivables	-3,557	-892	-3,138	626	-835	-1,871
Receivables and Originated Loans
Changes in Inventories	-654	591	178	591	1,383	1,707
Inventories
Changes in Income Taxes Payable	-5,785	-9,672	-10,392	-8,163	5,814	819
Income Taxes
Changes in Unearned Revenue	449	153	333	376	1,273	1,097
Unearned Premiums
Changes in Other Operating Activities	3,210	3,178	5,086	-214	3,176	5,468
Unpaid Losses and Loss Adjustment Expenses
Deferred Charges - Retroactive Reinsurance
Derivative Contract Assets and Liabilities
Other Assets
Other Liabilities
Other
Cash from Operating Activities	39,398	27,412	30,929	30,592	40,371	51,767
Net Cash Flows from Operating Activities

Investing Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Capital Expenditure	-20,072	-19,187	-18,864	-18,976	-19,337	-19,939
Purchases of Property, Plant and Equipment and Equipment Held for Lease
Purchases of Investments	-602,863	-559,163	-592,126	-536,079	-454,857	-378,778
Purchases of Equity Securities
Purchase of Kraft Heinz Common Stock
Purchases of U.S. Treasury Bills and Fixed Maturity Securities
Proceeds from Sale of Investments	620,590	594,594	587,404	545,359	453,018	377,491
Sales of Equity Securities
Sales of U.S. Treasury Bills and Fixed Maturity Securities
Redemptions and Maturities of U.S. Treasury Bills and Fixed Maturity Securities
Payments for Business Acquisitions	—	—	—	-396	—	—
Acquisitions of Businesses, Net of Cash Acquired
Other Investing Activities	914	735	497	-195	-690	-361
Purchases of Loans and Finance Receivables
Collections of Loans and Finance Receivables
Other
Cash from Investing Activities	-1,827	33,321	-23,485	-10,287	-21,906	-37,416
Net Cash Flows from Investing Activities

Financing Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Issuance of Short-Term Debt	976	-1,328	-862	-3,059	-1,252	664
Changes in Short-Term Borrowings, Net
Net Issuance / (Repayments) of Short-Term Debt	976	-1,328	-862	-3,059	-1,252	664
Issuance of Long-Term Debt	5,056	4,911	4,927	13,186	7,288	9,514
Proceeds from Borrowings of Insurance and Other Businesses
Proceeds from Borrowings of Railroad, Utilities and Energy Businesses
Proceeds from Borrowings of Finance Businesses
Repayments of Long-Term Debt	-7,862	-6,924	-6,641	-11,947	-11,751	-13,560
Repayments of Borrowings of Insurance and Other Businesses
Repayments of Borrowings of Railroad, Utilities and Energy Businesses
Repayments of Borrowings of Finance Businesses
Net Issuance / (Repayments) of Long-Term Debt	-2,806	-2,013	-1,714	1,239	-4,463	-4,046
Repurchases of Common Shares	—	—	—	-2,918	—	-7,238
Acquisitions of Treasury Stock
Net Issuance / (Repurchases) of Common Shares	—	—	—	-2,918	—	-7,238
Other Financing Activities	-1,368	-5,622	-3,101	-5,622	-4,839	-3,346
Other, Principally Transactions with Noncontrolling Interests
Cash from Financing Activities	1,375	-2,525	-505	-10,360	-12,149	-13,720
Net Cash Flows from Financing Activities