Berkshire Hathaway 1998 Annual Report Download - page 41

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40
Notes to Consolidated Financial Statements (Continued)
(15) Business Segment Data (Continued)
A disaggregation of Berkshire’s consolidated data for each of the three most recent years is presented in the tables which
follow on this and the following page. Amounts are in millions.
Revenues
1998 1997 1996
Operating Segments:
GEICO Corporation * ....................................... $4,033 $3,482 $3,092
Berkshire Hathaway Reinsurance Group * ......................... 939 967 758
Berkshire Hathaway Direct Insurance Group * ..................... 328 312 268
Buffalo News ............................................... 157 156 154
Flight services .............................................. 858 411 8
Home furnishings ........................................... 793 667 587
International Dairy Queen ..................................... 420 — —
Jewelry ................................................... 440 398 392
Scott Fetzer Companies ....................................... 1,002 961 938
See’s Candies .............................................. 288 269 249
Shoe group ................................................ 500 542 560
9,758 8,165 7,006
Reconciliation of segment amounts to consolidated amount:
Other sales and service revenues ............................... 398 211 205
Interest, dividend and other investment income .................... 1,055 925 794
Income from finance and financial products businesses .............. 212 32 25
Realized investment gain .................................... 2,502 1,112 2,485
Purchase-accounting-adjustments .............................. (93) (15) (15)
$13,832 $10,430 $10,500
* Represents insurance premiums earned
Operating Profit before Taxes
1998 1997 1996
Operating Segments
GEICO Corporation * ........................................ $269 $281 $171
Berkshire Hathaway Reinsurance Group * ......................... (21) 128 (8)
Berkshire Hathaway Direct Insurance Group * ..................... 17 52 59
Buffalo News ............................................... 53 56 50
Flight services .............................................. 181 140 3
Home furnishings ........................................... 72 57 44
International Dairy Queen ..................................... 58 — —
Jewelry ................................................... 39 32 28
Scott Fetzer Companies ....................................... 137 119 122
See’s Candies .............................................. 62 59 52
Shoe group ................................................ 33 49 61
900 973 582
Reconciliation of segment amounts to consolidated amounts:
Interest, dividend and other investment income ..................... 1,046 919 780
Income from finance and financial products businesses ............... 212 32 25
Realized investment gain ..................................... 2,502 1,112 2,485
Interest expense ** .......................................... (100) (107) (94)
Corporate and other ......................................... (36) 3 4
Goodwill amortization and other purchase-accounting-
adjustments ............................................... (210) (105) (76)
$4,314 $2,827 $3,706
*Represents underwriting profit (loss)
** Amounts of interest expense represent those for borrowings under investment agreements and other debt exclusive of
that of finance businesses and interest allocated to certain identified segments.