Berkshire Hathaway 1999 Annual Report Download - page 70

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69
BERKSHIRE HATHAWAY INC.
NON-OPERATING ACTIVITIES
These statements reflect the consolidated financial statement values for assets, liabilities, shareholders' equity,
revenues and expenses that were not assigned to any Berkshire operating group in the unaudited, and not fully GAAP -
adjusted group financial statements heretofore presented (pages 63 to 68).
Statements of Net Assets
(dollars in millions)
December 31,
1999 1998
Assets
Cash and cash equivalents ................................................. $ 484 $ 220
Investments:
Fixed maturities ...................................................... 2 30
Equity securities ...................................................... 339 267
Unamortized goodwill and other purchase accounting adjustments * ................. 18,489 18,613
Deferred tax assets ...................................................... 80 130
Other ................................................................ 50 128
$19,444 $19,388
Liabilities
Accounts payable, accruals and other ........................................ $ 76 $ 40
Income taxes ........................................................... 86 158
Borrowings under investment agreements and other debt ......................... 1,693 1,863
1,855 2,061
Equity
Minority shareholders’ ................................................... 11 15
Berkshire shareholders’ ................................................... 17,578 17,312
17,589 17,327
$19,444 $19,388
Statements of Earnings
(dollars in millions)
1999 1998 1997
Revenues:
Interest, dividend and other income ..................................... $ 39 $ 63 $ 48
Realized investment gain ............................................ 1 40 53
40 103 101
Expenses:
Corporate administration ............................................ 6 6 7
Shareholder-designated contributions ................................... 17 17 15
Amortization of goodwill and purchase accounting adjustments * .............. 739 210 105
Interest on debt .................................................... 106 96 101
868 329 228
Loss before income taxes ............................................. (828) (226) (127)
Income tax benefit .................................................. (119) (33) (17)
(709) (193) (110)
Minority interest ................................................... 1 5 8
Net loss .......................................................... $(710)$(198)$(118)
* Purchase accounting adjustments and goodwill arose in accounting for business acquisitions.
These statements do not conform to GAAP in all respects
These statements are unaudited