Berkshire Hathaway 2014 Annual Report Download - page 68

Download and view the complete annual report

Please find page 68 of the 2014 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.

Page out of 148

  • 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
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148

Notes to Consolidated Financial Statements (Continued)
(10) Property, plant and equipment (Continued)
A summary of property, plant and equipment of our railroad and our utilities and energy businesses follows (in millions).
Ranges of
estimated useful life
December 31,
2014 2013
Railroad:
Land ............................................................ — $ 5,983 $ 5,973
Track structure and other roadway ..................................... 5–100years 42,588 40,098
Locomotives, freight cars and other equipment ........................... 5–40years 9,493 7,551
Construction in progress ............................................ — 1,292 973
Utilities and energy:
Utility generation, distribution and transmission system .................... 5–80years 64,645 57,490
Interstate pipeline assets ............................................. 3–80years 6,660 6,448
Independent power plants and other assets .............................. 3–30years 5,035 2,516
Construction in progress ............................................ — 5,194 4,217
140,890 125,266
Accumulated depreciation ............................................... (25,836) (22,784)
$115,054 $102,482
Railroad property, plant and equipment includes the land, other roadway, track structure and rolling stock (primarily
locomotives and freight cars) of BNSF. The utility generation, distribution and transmission system and interstate pipeline
assets are the regulated assets of public utility and natural gas pipeline subsidiaries.
Assets held for lease and property, plant and equipment of our finance and financial products businesses are summarized
below (in millions).
Ranges of
estimated useful life
December 31,
2014 2013
Assets held for lease ...................................................... 5–30years $ 9,810 $ 9,509
Land .................................................................. — 227 233
Buildings, machinery and other ............................................. 3–50years 1,179 1,146
11,216 10,888
Accumulated depreciation ................................................. (3,179) (3,188)
$ 8,037 $ 7,700
Assets held for lease includes railcars, intermodal tank containers, cranes, over-the-road trailers, storage units and
furniture. As of December 31, 2014, the minimum future lease rentals to be received on assets held for lease (including rail cars
leased from others) were as follows (in millions): 2015 – $982; 2016 – $822; 2017 – $643; 2018 – $461; 2019 – $311; and
thereafter – $385.
(11) Goodwill and other intangible assets
A reconciliation of the change in the carrying value of goodwill is as follows (in millions).
December 31,
2014 2013
Balance at beginning of year ............................................................... $57,011 $54,523
Acquisitions of businesses ................................................................ 4,006 2,732
Other, including foreign currency translation .................................................. (303) (244)
Balance at end of year .................................................................... $60,714 $57,011
66