v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Assets:    
Investments in fixed maturity securities $ 17,669 $ 17,816
Investments in equity securities 288,034 297,778
Equity method investments 19,951 19,978
Loans and finance receivables 30,101 29,836
Inventories 25,523 24,424
Equipment held for lease 18,674 18,535
Goodwill [1] 83,180 83,074
Total assets 1,252,271 1,222,176
Liabilities:    
Life, annuity and health insurance benefits 17,479  
Payable for purchases of U.S. Treasury Bills 17,200 167
Income taxes, principally deferred 88,685 86,955
Total liabilities 522,821 502,473
Shareholders’ equity:    
Common stock at par value 8 8
Capital in excess of par value 35,566 35,612
Accumulated other comprehensive income (2,511) (2,448)
Retained earnings 773,292 763,186
Treasury stock, at cost (79,174) (78,939)
Berkshire shareholders' equity 727,181 717,419
Noncontrolling interests 2,269 2,284
Total shareholders’ equity 729,450 719,703
Total liabilities and shareholders' equity 1,252,271 1,222,176
Insurance and Other [Member]    
Assets:    
Cash and cash equivalents [2] 51,478 47,719
Short-term investments in U.S. Treasury Bills [3] 339,261 321,434
Investments in fixed maturity securities 17,669 17,816
Investments in equity securities 288,034 297,778
Equity method investments 19,951 19,978
Loans and finance receivables 30,101 29,836
Other receivables 47,492 44,331
Inventories 25,523 24,424
Property, plant and equipment 39,042 31,885
Equipment held for lease 18,674 18,535
Goodwill 56,173 55,945
Other intangible assets 34,275 33,802
Deferred charges - retroactive reinsurance 7,852 8,104
Other 27,412 24,413
Total assets 1,002,937 976,000
Liabilities:    
Unpaid losses and loss adjustment expenses 121,561 120,713
Unpaid losses and loss adjustment expenses - retroactive reinsurance 30,368 31,048
Unearned insurance premiums 32,753 31,339
Life, annuity and health insurance benefits 17,479 17,890
Other insurance policyholder liabilities 9,896 10,312
Accounts payable, accruals and other liabilities 39,670 38,019
Payable for purchases of U.S. Treasury Bills 17,229 167
Aircraft repurchase liabilities and unearned lease revenues 10,915 10,686
Notes payable and other borrowings 42,835 45,763
Liabilities, excluding income taxes, principally deferred, Total 322,706 305,937
Railroad, Utilities and Energy [Member]    
Assets:    
Cash and cash equivalents [2] 6,644 4,158
Receivables 4,267 4,387
Property, plant and equipment 184,028 184,740
Goodwill 27,007 27,129
Regulatory assets 4,471 4,821
Other 22,917 20,941
Total assets 249,334 246,176
Liabilities:    
Accounts payable, accruals and other liabilities 18,545 19,250
Regulatory liabilities 6,834 7,013
Notes payable and other borrowings 86,051 83,318
Liabilities, excluding income taxes, principally deferred, Total $ 111,430 $ 109,581
[1] Net of accumulated goodwill impairments of $13.0 billion as of March 31, 2026 and December 31, 2025 and $11.5 billion as of December 31, 2024.
[2] Includes U.S. Treasury Bills with maturities of three months or less when purchased of $19.7 billion at March 31, 2026 and $17.6 billion at December 31, 2025.
[3] Includes unsettled purchases of U.S. Treasury Bills of $17.2 billion at March 31, 2026 and $167 million at December 31, 2025. Such amounts were also included in liabilities and were paid shortly after the respective balance sheet date.