Berkshire Hathaway 2003 Annual Report Download - page 27

Download and view the complete annual report

Please find page 27 of the 2003 Berkshire Hathaway annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 78

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78

26
BERKSHIRE HATHAWAY INC.
and Subsidiaries
CONSOLIDATED BALANCE SHEETS
(dollars in millions except per share amounts)
December 31,
2003 2002
ASSETS
Insurance and Other:
Cash and cash e
q
uivalents.............................................................................................. $ 31,262 $ 10,283
Investments:
Fixed maturit
y
securities............................................................................................. 26,116 38,096
E
q
uit
y
securities ......................................................................................................... 35,287 28,363
Othe
r
........................................................................................................................... 2,924 3,752
Receivables .................................................................................................................... 12,314 13,153
Inventories...................................................................................................................... 3,656 3,030
Pro
p
ert
y
,
p
lant and e
q
ui
p
men
t
........................................................................................ 6,260 5,368
Goodwill of ac
q
uired businesses.................................................................................... 22,948 22,298
Deferred char
g
es reinsurance assumed .......................................................................... 3,087 3,379
Othe
r
............................................................................................................................... 4,468 4,023
148,322 131,745
Investments in MidAmerican Ener
gy
Holdin
g
s Com
p
an
y
............................................. 3,899 3,651
F
inance and Financial Products:
Cash and cash e
q
uivalents.............................................................................................. 4,695 2,465
Investments in fixed maturit
y
securities:
Available-for-sale ....................................................................................................... 9,092 15,666
Othe
r
........................................................................................................................... 711 1,187
Tradin
g
account assets ................................................................................................... 4,519 6,874
Loans and finance receivables........................................................................................ 4,951 3,863
Othe
r
............................................................................................................................... 4,370 4,093
28,338 34,148
$180,559 $169,544
LIABILITIES AND SHAREHOLDERS’ E
Q
UITY
Insurance and Other:
Losses and loss ad
j
ustment ex
p
enses ............................................................................. $ 45,393 $ 43,771
Unearned
p
remiums ....................................................................................................... 6,308 6,694
Life and health insurance benefits.................................................................................. 2,872 2,642
Other
p
olic
y
holder liabilities.......................................................................................... 3,635 4,218
Accounts
p
a
y
able, accruals and other liabilities............................................................. 6,386 4,995
Income taxes,
p
rinci
p
all
y
deferred ................................................................................. 11,479 8,051
N
otes
p
a
y
able and other borrowin
g
s .............................................................................. 4,182 4,775
80,255 75,146
F
inance and Financial Products:
Securities sold under a
g
reements to re
p
urchase............................................................. 7,931 13,789
Tradin
g
account liabilities.............................................................................................. 5,445 7,274
N
otes
p
a
y
able and other borrowin
g
s .............................................................................. 4,937 4,513
Othe
r
............................................................................................................................... 3,650 3,394
21,963 28,970
Total liabilities.............................................................................................................. 102,218 104,116
Minorit
y
shareholders’ interests........................................................................................ 745 1,391
Shareholders’ e
q
uit
y
:
Common stock - Class A, $5
p
ar value and Class B, $0.1667
p
ar value........................ 88
Ca
p
ital in excess of
p
ar value......................................................................................... 26,151 26,028
Accumulated other com
p
rehensive income.................................................................... 19,556 14,271
Retained earnin
g
s ........................................................................................................... 31,881 23,730
Total shareholders’ e
q
uit
y
........................................................................................ 77,596 64,037
$180,559 $169,544
See accompanying Notes to Consolidated Financial Statements