Berkshire Hathaway 2008 Annual Report Download - page 43

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Notes to Consolidated Financial Statements (Continued)
(7) Loans and receivables
Loans and receivables of insurance and other businesses are comprised of the following (in millions).
2008 2007
Insurance premiums receivable ............................................................. $ 4,961 $ 4,215
Reinsurance recoverables ................................................................. 3,235 3,171
Trade and other receivables ................................................................ 7,141 6,179
Allowances for uncollectible accounts ....................................................... (412) (408)
$14,925 $13,157
Loans and finance receivables of finance and financial products businesses are comprised of the following (in millions).
2008 2007
Consumer installment loans and finance receivables ............................................ $13,190 $11,506
Commercial loans and finance receivables .................................................... 1,050 1,003
Allowances for uncollectible loans .......................................................... (298) (150)
$13,942 $12,359
Allowances for uncollectible loans primarily relate to consumer installment loans. Provisions for consumer loan losses
were $305 million in 2008 and $176 million in 2007. Loan charge-offs were $215 million in 2008 and $197 million in 2007.
Consumer loan amounts are net of acquisition discounts of $684 million at December 31, 2008 and $452 million at
December 31, 2007.
(8) Inventories
Inventories are comprised of the following (in millions).
2008 2007
Raw materials ............................................................................ $1,161 $ 897
Work in process and other ................................................................... 607 479
Finished manufactured goods ................................................................ 2,580 1,781
Purchased goods .......................................................................... 3,152 2,636
$7,500 $5,793
(9) Goodwill
A reconciliation of the change in the carrying value of goodwill for 2008 and 2007 is as follows (in millions).
2008 2007
Balance at beginning of year ............................................................... $32,862 $32,238
Acquisitions of businesses and other ........................................................ 919 624
Balance at end of year .................................................................... $33,781 $32,862
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