Berkshire Hathaway 2006 Annual Report Download - page 28

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27
BERKSHIRE HATHAWAY INC.
and Subsidiaries
CONSOLIDATED BALANCE SHEETS
(dollars in millions)
December 31, Pro Forma *
2006 2005 2005
LIABILITIES AND SHAREHOLDERS’ E
Q
UITY
(
audited
)
(
unaudited
)
Insurance and Other:
Losses and loss ad
j
ustment ex
p
enses................................................ $ 47,612 $ 48,034 $ 48,034
Unearned
p
remiums.......................................................................... 7,058 6,206 6,206
Life and health insurance benefits .................................................... 3,600 3,202 3,202
Other
p
olic
y
holder liabilities ............................................................ 3,938 3,769 3,769
Accounts
p
a
y
able, accruals and other liabilities ............................... 10,255 8,699 8,699
Income taxes,
p
rinci
p
all
y
deferre
d
.................................................... 18,460 12,252 13,649
N
otes
p
a
y
able and other borrowin
g
s ................................................ 3,698 3,583 3,583
94,621 85,745 87,142
Utilities and Ener
gy
:
Accounts payable, accruals and other liabilities ............................... 6,802 — 3,780
Notes payable and other borrowings ................................................ 16,946 — 10,296
23,748
—
14,076
F
inance and Financial Products:
Derivative contract liabilities............................................................ 3,883 5,061 5,061
Accounts
p
a
y
able, accruals and other liabilities ............................... 3,543 4,351 4,351
Notes payable and other borrowings ................................................ 11,961 10,868 10,868
19,387 20,280 20,280
Total liabilities ............................................................................... 137,756 106,025 121,498
Minorit
y
shareholders’ interests .......................................................... 2,262 816 1,386
Shareholders’ equity:
Common stock:
Class A, $5 par value; Class B, $0.1667 par value............................ 8 8 8
Capital in excess of par value ........................................................... 26,522 26,399 26,399
Accumulated other comprehensive income ...................................... 22,977 17,360 17,360
Retained earnings.............................................................................. 58,912 47,717 47,717
Total shareholders’ equity........................................................... 108,419 91,484 91,484
$248,437 $198,325 $214,368
* 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