Berkshire Hathaway 2013 Annual Report Download - page 60
Download and view the complete annual report
Please find page 60 of the 2013 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.-
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
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
 |
 |
Notes to Consolidated Financial Statements (Continued)
(19) Common stock (Continued)
billion. The repurchase program is expected to continue indefinitely and the amount of repurchases will depend entirely upon
the level of cash available, the attractiveness of investment and business opportunities either at hand or on the horizon, and the
degree of discount of the market price relative to management’s estimate of intrinsic value. The repurchase program does not
obligate Berkshire to repurchase any dollar amount or number of Class A or Class B shares and there is no expiration date to the
program. There were no share purchases in 2013. In December 2012, Berkshire repurchased 9,475 Class A shares and 606,499
Class B shares for approximately $1.3 billion through a privately negotiated transaction and market purchases.
(20) Accumulated other comprehensive income
A summary of the net changes in after-tax accumulated other comprehensive income attributable to Berkshire Hathaway
shareholders for each of the three years ending December 31, 2013 and significant amounts reclassified out of accumulated
other comprehensive income for the year ended December 31, 2013 follows (in millions).
Unrealized
appreciation of
investments, net
Foreign
currency
translation
Prior service
and actuarial
gains/losses of
defined benefit
pension plans Other
Accumulated
other
comprehensive
income
Balance at December 31, 2010 ........................ $21,638 $(240) $ (853) $ 38 $20,583
Other comprehensive income, net ..................... (2,144) (144) (720) 3 (3,005)
Transactions with noncontrolling interests .............. 132 1 (16) (41) 76
(2,012) (143) (736) (38) (2,929)
Balance at December 31, 2011 ........................ 19,626 (383) (1,589) — 17,654
Other comprehensive income, net ..................... 9,647 267 (21) (47) 9,846
Transactions with noncontrolling interests .............. (19) (4) 9 14 —
9,628 263 (12) (33) 9,846
Balance at December 31, 2012 ........................ 29,254 (120) (1,601) (33) 27,500
Other comprehensive income, net before reclassifications . . 16,379 25 1,534 106 18,044
Amounts reclassified from accumulated other
comprehensive income ............................ (1,591) (31) 114 10 (1,498)
Transactions with noncontrolling interests .............. — (20) (1) — (21)
14,788 (26) 1,647 116 16,525
Balance at December 31, 2013 ........................ $44,042 $(146) $ 46 $ 83 $44,025
Amounts reclassified from other comprehensive income into
net earnings during 2013 are included on the following
line items:
Investment gains/losses:
Insurance and other ........................ $(2,382) $ — $ — $— $ (2,382)
Finance and financial products ................ (65) — — — (65)
Other ........................................ — (31) 167 17 153
Reclassifications before income taxes .................. (2,447) (31) 167 17 (2,294)
Applicable income taxes ............................ (856) — 53 7 (796)
$ (1,591) $ (31) $ 114 $ 10 $ (1,498)
58