Berkshire Hathaway 2005 Annual Report Download - page 28

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27
BERKSHIRE HATHAWAY INC.
and Subsidiaries
CONSOLIDATED BALANCE SHEETS
(dollars in millions)
Pro Forma * December 31,
2005 2005 2004
LIABILITIES AND SHAREHOLDERS’ E
Q
UITY
(
unaudited
)
(
audited
)
Insurance and Other:
Losses and loss ad
j
ustment ex
p
enses ............................................. $ 48,034 $ 48,034 $ 45,219
Unearned
p
remiums ....................................................................... 6,206 6,206 6,283
Life and health insurance benefits.................................................. 3,202 3,202 3,154
Other
p
olic
y
holder liabilities.......................................................... 3,769 3,769 3,955
Accounts
p
a
y
able, accruals and other liabilities............................. 8,699 8,699 7,500
Income taxes,
p
rinci
p
all
y
deferre
d
................................................. 13,649 12,252 12,247
N
otes
p
a
y
able and other borrowin
g
s .............................................. 3,583 3,583 3,450
87,142 85,745 81,808
Utilities and Ener
gy
:
Accounts
p
a
y
able, accruals and other current liabilities ................ 1,411
—
—
N
otes
p
a
y
able, subsidiar
y
and
p
ro
j
ec
t
............................................ 7,170
—
—
Other notes
p
a
y
able and borrowin
g
s .............................................. 3,126
—
—
Other non-current liabilities ........................................................... 2,369
—
—
14,076
—
—
F
inance and Financial Products:
Securities sold under a
g
reements to re
p
urchase............................. 1,160 1,160 5,773
Derivative contract liabilities ......................................................... 5,061 5,061 4,794
Funds held as collateral .................................................................. 379 379 1,619
N
otes
p
a
y
able and other borrowin
g
s .............................................. 10,868 10,868 5,387
Other............................................................................................... 2,812 2,812 2,835
20,280 20,280 20,408
Total liabilities............................................................................. 121,498 106,025 102,216
Minorit
y
shareholders’ interests........................................................ 1,386 816 758
Shareholders’ e
q
uit
y
:
Common stock:
Class A outstandin
g
shares
–
2005 - 1,260,920; 2004 - 1,268,783 .. 6 6 6
Class B outstandin
g
shares
–
2005 - 8,394,083; 2004 - 8,099,175... 2 2 2
Ca
p
ital in excess of
p
ar value......................................................... 26,399 26,399 26,268
Accumulated other com
p
rehensive income.................................... 17,360 17,360 20,435
Retained earnin
g
s ........................................................................... 47,717 47,717 39,189
Total shareholders’ e
q
uit
y
........................................................ 91,484 91,484 85,900
$214,368 $198,325 $188,874
* The Pro Forma Balance Sheet gives effect to the conversion on February 9, 2006 of MidAmerican Energy
Holdings Company (“MidAmerican”) non-voting cumulative convertible preferred stock into MidAmerican
voting common stock as if such conversion had occurred on December 31, 2005. See Note 2 to the
Consolidated Financial Statements for additional information.
See accompanying Notes to Consolidated Financial Statements