Berkshire Hathaway 2002 Annual Report Download - page 28

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27
BERKSHIRE HATHAWAY INC.
and Subsidiaries
CONSOLIDATED BALANCE SHEETS
(dollars in millions except per share amounts)
December 31,
2002 2001
LIABILITIES AND SHAREHOLDERS’ EQUITY
Insurance and Other:
Losses and loss adjustment expenses ............................................................................. $ 43,925 $ 40,716
Unearned premiums ....................................................................................................... 6,694 4,814
Life and health insurance benefits.................................................................................. 2,642 2,058
Other policyholder liabilities.......................................................................................... 4,218 3,319
Accounts payable, accruals and other liabilities............................................................. 5,053 4,249
Income taxes................................................................................................................... 8,051 7,021
Notes payable and other borrowings.............................................................................. 4,807 3,485
75,390 65,662
Finance and Financial Products:
Securities sold under agreements to repurchase............................................................. 13,789 21,465
Trading account liabilities.............................................................................................. 7,274 4,803
Notes payable and other borrowings .............................................................................. 4,481 9,019
Other............................................................................................................................... 3,182 2,504
28,726 37,791
Total liabilities ...................................................................................................................... 104,116 103,453
Minority shareholders interests........................................................................................ 1,391 1,349
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......................................................................................... 26,028 25,607
Accumulated other comprehensive income.................................................................... 14,271 12,891
Retained earnings ........................................................................................................... 23,730 19,444
Total shareholders equity ........................................................................................ 64,037 57,950
$169,544 $162,752
*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 1,534,657 shares
outstanding at December 31, 2002 versus 1,528,217 shares outstanding at December 31, 2001.
See accompanying Notes to Consolidated Financial Statements