Berkshire Hathaway 1999 Annual Report Download - page 26

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25
BERKSHIRE HATHAWAY INC.
and Subsidiaries
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
(dollars in millions)
Class A & B Capital in Class A Other
Common Excess of Treasury Retained Comprehensive Comprehensive
Stock Par Value Stock Earnings Income Income
Accumulated
Balance December 31, 1996 ........ $ 7 $ 2,274 $ (31) $ 9,033 $12,144
Common stock issued in connection with
acquisitions of businesses ........... — 73 — — —
Net earnings ..................... — — — 1,901 — $ 1,901
Other comprehensive income items:
Unrealized appreciation of investments — — — — 10,574 10,574
Reclassification adjustment for
appreciation included in net earnings .. — — — — (1,106) (1,106)
Income taxes and minority interests .... — — — — (3,414) (3,414)
Other comprehensive income ......... 6,054
Total comprehensive income ......... $ 7,955
Balance December 31, 1997 ........ $ 7 $ 2,347 $ (31) $10,934 $18,198
Common stock issued in connection with
acquisitions of businesses ........... 1 22,803 2 — —
Retirement of treasury stock ......... — (29) 29 — —
Net earnings ..................... — — — 2,830 — $ 2,830
Other comprehensive income items:
Unrealized appreciation of investments — — — — 3,011 3,011
Reclassification adjustment for
appreciation included in net earnings .. — — — — (2,415) (2,415)
Income taxes and minority interests .... — — — — (284) (284)
Other comprehensive income ......... 312
Total comprehensive income ......... $ 3,142
Balance December 31, 1998 ........ $ 8 $25,121 $ — $13,764 $18,510
Net earnings ..................... — — — 1,557 — $ 1,557
Exercise of stock options issued in
connection with business acquisitions .. — 88 — — —
Other comprehensive income items:
Unrealized appreciation of investments — — — — (795) (795)
Reclassification adjustment for
appreciation included in net earnings .. — — — — (1,365) (1,365)
Foreign currency translation losses .... — — — — (16) (16)
Income taxes and minority interests .... — — — — 889 889
Other comprehensive income ......... (1,287)
Total comprehensive income ......... $ 270
Balance December 31, 1999 ........ $ 8 $25,209 $ C $15,321 $17,223
See accompanying Notes to Consolidated Financial Statements