Berkshire Hathaway 1999 Annual Report Download - page 23

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22
BERKSHIRE HATHAWAY INC.
and Subsidiaries
CONSOLIDATED BALANCE SHEETS
(dollars in millions except per share amounts)
December 31,
1999 1998
ASSETS
Cash and cash equivalents .............................................. $ 3,835 $ 13,582
Investments:
Securities with fixed maturities ......................................... 30,222 21,246
Equity securities and other investments .................................. 39,508 39,761
Receivables ......................................................... 8,558 7,224
Inventories ......................................................... 844 767
Assets of finance and financial products businesses ........................... 24,229 16,989
Property, plant and equipment ........................................... 1,903 1,509
Goodwill of acquired businesses ......................................... 18,281 18,570
Other assets ......................................................... 4,036 2,589
$131,416 $122,237
LIABILITIES AND SHAREHOLDERS’ EQUITY
Losses and loss adjustment expenses ...................................... $ 26,802 $ 23,012
Unearned premiums .................................................. 3,718 3,324
Accounts payable, accruals and other liabilities .............................. 7,458 7,182
Income taxes, principally deferred ........................................ 9,566 11,762
Borrowings under investment agreements and other debt ....................... 2,465 2,385
Liabilities of finance and financial products businesses ........................ 22,223 15,525
72,232 63,190
Minority shareholders’ interests ......................................... 1,423 1,644
Shareholders’ equity:
Common Stock:*
Class A Common Stock, $5 par value
and Class B Common Stock, $0.1667 par value .......................... 8 8
Capital in excess of par value .......................................... 25,209 25,121
Accumulated other comprehensive income ................................ 17,223 18,510
Retained earnings ................................................... 15,321 13,764
Total shareholders’ equity ........................................... 57,761 57,403
$131,416 $122,237
* Class B Common Stock has economic rights equal to one-thirtieth (1/30) of the economic rights of Class A
Common Stock. Accordingly, on an equivalent Class A Common Stock basis, there are 1,520,562 shares
outstanding at December 31, 1999 versus 1,518,548 outstanding at December 31, 1998.
See accompanying Notes to Consolidated Financial Statements