Berkshire Hathaway 2005 Annual Report Download - page 31

Download and view the complete annual report

Please find page 31 of the 2005 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 82

  • 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
  • 79
  • 80
  • 81
  • 82

30
BERKSHIRE HATHAWAY INC.
and Subsidiaries
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
AND COMPREHENSIVE INCOME
(dollars in millions)
Year Ended December 31,
2005 2004 2003
Class A & B Common Stock
Balance at beginning and end of year........................................................ $ 8 $ 8 $ 8
Capital in Excess of Par Value
Balance at beginning of year ..................................................................... $26,268 $26,151 $26,028
Exercise of stock options issued in connection with business
acquisitions and SQUARZ warrant premiums.................................. 131 117 123
Balance at end of year................................................................................ $26,399 $26,268 $26,151
Retained Earnings
Balance at beginning of year ..................................................................... $39,189 $31,881 $23,730
Net earnings ........................................................................................... 8,528 7,308 8,151
Balance at end of year................................................................................ $47,717 $39,189 $31,881
Accumulated Other Comprehensive Income
Unrealized appreciation of investments..................................................... $ 2,081 $ 2,599 $10,842
Applicable income taxes ...................................................................... (728) (905) (3,802)
Reclassification adjustment for appreciation
included in net earnings .................................................................... (6,261) (1,569) (2,922)
Applicable income taxes ...................................................................... 2,191 549 1,023
Foreign currency translation adjustments .................................................. (359) 140 267
Applicable income taxes ...................................................................... (26) 134 (127)
Minimum pension liability adjustment ...................................................... (62) (38) 1
Applicable income taxes ...................................................................... 38 3 (3)
Other, including minority interests ............................................................ 51 (34) 6
Other comprehensive income .................................................................... (3,075) 879 5,285
Accumulated other comprehensive income at beginning of year .............. 20,435 19,556 14,271
Accumulated other comprehensive income at end of year ........................ $17,360 $20,435 $19,556
Comprehensive Income
Net earnings............................................................................................... $ 8,528 $ 7,308 $ 8,151
Other comprehensive income .................................................................... (3,075) 879 5,285
Total comprehensive income..................................................................... $ 5,453 $ 8,187 $13,436
See accompanying Notes to Consolidated Financial Statements