Berkshire Hathaway Inc.

NYSE-BRK.A

Operating Activities	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Net Income	17,129	46,231	43,330	25,191	71,956	15,539
Net Earnings
Depreciation & Amortization	8,584	4,053	8,802	6,339	6,147	5,486
Depreciation and Amortization
Other Adjustments	-4,847	-33,842	-31,198	-10,734	-70,144	-2,304
Investment Gains
Discount Accretion on Investments, Principally U.S. Treasury Bills
Other
Changes in Trade Receivables	-2,634	1,742	-1,116	-755	-1,194	834
Receivables and Originated Loans
Changes in Inventories	456	135	456	1,251	175	-699
Inventories
Changes in Income Taxes Payable	-379	-9,293	1,130	-311	15,176	51
Income Taxes
Changes in Unearned Revenue	1,512	-1,359	1,735	-638	2,492	-523
Unearned Premiums
Changes in Other Operating Activities	1,605	1,573	-1,787	7,255	-3,010	3,609
Unpaid Losses and Loss Adjustment Expenses
Deferred Charges - Retroactive Reinsurance
Derivative Contract Assets and Liabilities
Other Assets
Other Liabilities
Other
Cash from Operating Activities	20,988	6,424	24,168	27,599	21,597	21,993
Net Cash Flows from Operating Activities

Investing Activities	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Capital Expenditure	-9,139	-10,048	-8,928	-11,011	-8,398	-8,631
Purchases of Property, Plant and Equipment and Equipment Held for Lease
Purchases of Investments	-256,895	-302,268	-233,811	-144,967	-106,502	-94,228
Purchases of Fixed Maturity Securities
Purchases of Equity Securities
Purchases of U.S. Treasury Bills and Fixed Maturity Securities
Proceeds from Sale of Investments	290,364	304,230	241,129	136,362	109,772	99,708
Sales of Fixed Maturity Securities
Redemptions and Maturities of Fixed Maturity Securities
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	—	-7,321	-1,283	-10,491
Acquisitions of Businesses, Net of Cash Acquired
Other Investing Activities	397	338	-533	172	513	214
Purchases of Loans and Finance Receivables
Collections of Loans and Finance Receivables
Other
Cash from Investing Activities	32,957	364	-10,651	-26,765	-5,898	-13,428
Net Cash Flows from Investing Activities

Financing Activities	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Issuance of Short-Term Debt	570	-1,898	-1,161	1,825	582	-511
Changes in Short-Term Borrowings, Net
Net Issuance / (Repayments) of Short-Term Debt	570	-1,898	-1,161	1,825	582	-511
Issuance of Long-Term Debt	3,993	5,477	7,709	4,405	3,412	2,534
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	-5,201	-1,723	-10,224	-3,336	-7,975	-1,114
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	-1,208	3,754	-2,515	1,069	-4,563	1,420
Repurchases of Common Shares	-2,918	—	-2,918	-4,320	-4,851	-3,663
Acquisitions of Treasury Stock
Net Issuance / (Repurchases) of Common Shares	-2,918	—	-2,918	-4,320	-4,851	-3,663
Other Financing Activities	-754	-3,268	-2,354	-3,346	-801	-515
Acquisitions of Noncontrolling Interests
Net Contributions/Distributions with Noncontrolling Interests
Other, Principally Transactions with Noncontrolling Interests
Cash from Financing Activities	-1,113	-1,412	-8,948	-4,772	-9,633	-3,269
Net Cash Flows from Financing Activities