Berkshire Hathaway 2008 Annual Report Download - page 32

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BERKSHIRE HATHAWAY INC.
and Subsidiaries
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
AND COMPREHENSIVE INCOME
(dollars in millions)
Year Ended December 31,
2008 2007 2006
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 .................................................. $26,952 $26,522 $26,399
Issuance of Class A and B shares .............................................. 181 430 123
Balance at end of year ....................................................... $27,133 $26,952 $26,522
Retained Earnings
Balance at beginning of year .................................................. $72,153 $58,912 $47,717
Adoption of new accounting pronouncements .................................... — 28 180
Net earnings .............................................................. 4,994 13,213 11,015
77,147 72,153 58,912
Adoption of equity method ................................................... 1,025 — —
Balance at end of year ....................................................... $78,172 $72,153 $58,912
Accumulated Other Comprehensive Income
Unrealized appreciation of investments ......................................... $(23,342) $ 2,523 $ 9,278
Applicable income taxes ................................................. 8,257 (872) (3,246)
Reclassification adjustment of investment appreciation included in net earnings ......... 895 (5,494) (1,646)
Applicable income taxes ................................................. (313) 1,923 576
Foreign currency translation adjustments ........................................ (2,140) 456 603
Applicable income taxes ................................................. 118 (26) 1
Prior service cost and actuarial gains/losses of defined benefit plans .................. (1,071) 257 563
Applicable income taxes ................................................. 389 (102) (196)
Other, including minority interests ............................................. (60) (22) (13)
Other comprehensive income ................................................. (17,267) (1,357) 5,920
Accumulated other comprehensive income at beginning of year ...................... 21,620 22,977 17,360
Adoption of equity method ................................................... (399) — —
Adoption of SFAS 158 ...................................................... — — (303)
Accumulated other comprehensive income at end of year ........................... $ 3,954 $21,620 $22,977
Comprehensive Income
Net earnings .............................................................. $ 4,994 $13,213 $11,015
Other comprehensive income ................................................. (17,267) (1,357) 5,920
Total comprehensive income ................................................. $(12,273) $11,856 $16,935
See accompanying Notes to Consolidated Financial Statements
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