Berkshire Hathaway 1999 Annual Report Download - page 41

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40
Notes to Consolidated Financial Statements (Continued)
(16) Business Segment Data (Continued)
A disaggregation of Berkshire’s consolidated data for each of the three most recent years is presented in the table s
which follow on this and the following page. Amounts are in millions.
Revenues
1999 1998 1997
Operating Segments:
Insurance group revenues:
GEICO * ................................................. $ 4,757 $4,033 $3,482
General Re * .............................................. 6,905 — —
Berkshire Hathaway Reinsurance Group * ....................... 2,382 939 967
Berkshire Hathaway Direct Insurance Group * .................... 262 328 312
Interest, dividend and other investment income .................... 2,500 982 888
Total insurance group revenues ................................. 16,806 6,282 5,649
Buffalo News ............................................... 157 157 156
Flight services .............................................. 1,856 858 411
Home furnishings ........................................... 917 793 667
International Dairy Queen ..................................... 460 420 —
Jewelry ................................................... 486 420 398
Scott Fetzer Companies ....................................... 1,021 1,002 961
See’s Candies .............................................. 306 288 269
Shoe group ................................................ 498 500 542
22,507 10,720 9,053
Reconciliation of segments to consolidated amount:
Realized investment gain .................................... 1,365 2,415 1,106
Other revenues ............................................ 381 703 280
Purchase-accounting-adjustments .............................. (225) (6) (9)
$24,028 $13,832 $10,430
* Represents insurance premiums earned
Operating Profit before Taxes
1999 1998 1997
Operating Segments:
Insurance group operating profit:
GEICO * ................................................. $ 24 $269 $281
General Re * .............................................. (1,184) — —
Berkshire Hathaway Reinsurance Group * ....................... (256) (21) 128
Berkshire Hathaway Direct Insurance Group * .................... 22 17 52
Interest, dividend and other investment income .................... 2,482 974 882
Total insurance group operating profit ............................ 1,088 1,239 1,343
Buffalo News ............................................... 55 53 56
Flight services .............................................. 225 181 140
Home furnishings ........................................... 79 72 57
International Dairy Queen ..................................... 56 58 —
Jewelry ................................................... 51 39 32
Scott Fetzer Companies ....................................... 147 137 119
See’s Candies .............................................. 74 62 59
Shoe group ................................................ 17 33 49
1,792 1,874 1,855
Reconciliation of segments to consolidated amount:
Realized investment gain .................................... 1,365 2,415 1,106
Interest expense ** ......................................... (109) (100) (107)
Corporate and other ........................................ 141 248 72
Goodwill amortization and other purchase-accounting-adjustments ..... (739) (123) (99)
$2,450 $4,314 $2,827
*Represents underwriting profit (loss)
** Amounts of interest expense represent interest on borrowings under investment agreements and other debt
exclusive of that of finance businesses and interest allocated to certain identified segments.