Berkshire Hathaway 2013 Annual Report Download - page 68

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Notes to Consolidated Financial Statements (Continued)
(23) Business segment data (Continued)
Approximately 96% of our revenues in 2013, 2012 and 2011 from railroad, utilities and energy businesses were in the
United States. In each year, most of the remainder was attributed to the United Kingdom. At December 31, 2013, 92% of our
consolidated net property, plant and equipment was located in the United States with the remainder primarily in Europe and
Canada.
Premiums written and earned by the property/casualty and life/health insurance businesses are summarized below
(in millions).
Property/Casualty Life/Health
2013 2012 2011 2013 2012 2011
Premiums Written:
Direct .............................................. $24,292 $20,796 $18,512 $ 931 $ 554 $ 67
Assumed ........................................... 7,339 9,668 9,867 5,437 5,391 5,133
Ceded .............................................. (720) (572) (542) (69) (110) (130)
$30,911 $29,892 $27,837 $6,299 $5,835 $5,070
Premiums Earned:
Direct .............................................. $23,267 $20,204 $18,038 $ 931 $ 554 $ 67
Assumed ........................................... 7,928 9,142 9,523 5,425 5,356 5,099
Ceded .............................................. (797) (600) (522) (70) (111) (130)
$30,398 $28,746 $27,039 $6,286 $5,799 $5,036
(24) Quarterly data
A summary of revenues and earnings by quarter for each of the last two years is presented in the following table. This
information is unaudited. Dollars are in millions, except per share amounts.
1st
Quarter
2nd
Quarter
3rd
Quarter
4th
Quarter
2013
Revenues ............................................................. $43,867 $44,693 $46,541 $47,049
Net earnings attributable to Berkshire shareholders * .......................... 4,892 4,541 5,053 4,990
Net earnings attributable to Berkshire shareholders per equivalent Class A common
share .............................................................. 2,977 2,763 3,074 3,035
2012
Revenues ............................................................. $38,147 $38,546 $41,050 $44,720
Net earnings attributable to Berkshire shareholders * .......................... 3,245 3,108 3,920 4,551
Net earnings attributable to Berkshire shareholders per equivalent Class A common
share .............................................................. 1,966 1,882 2,373 2,757
*Includes realized investment gains/losses, other-than-temporary impairment losses on investments and derivative gains/
losses. Derivative gains/losses include significant amounts related to non-cash changes in the fair value of long-term
contracts arising from short-term changes in equity prices, interest rates and foreign currency rates, among other factors.
After-tax investment and derivative gains/losses for the periods presented above are as follows (in millions):
1st
Quarter
2nd
Quarter
3rd
Quarter
4th
Quarter
Investment and derivative gains/losses – 2013 .................................. $1,110 $ 622 $1,391 $1,214
Investment and derivative gains/losses – 2012 .................................. 580 (612) 521 1,738
66