Berkshire Hathaway 2015 Annual Report Download - page 55

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Notes to Consolidated Financial Statements (Continued)
(9) Receivables
Receivables of insurance and other businesses are comprised of the following (in millions).
December 31,
2015 2014
Insurance premiums receivable ............................................................. $ 8,843 $ 7,914
Reinsurance recoverable on unpaid losses .................................................... 3,307 3,116
Trade and other receivables ................................................................ 11,521 11,133
Allowances for uncollectible accounts ....................................................... (368) (311)
$23,303 $21,852
Loans and finance receivables of finance and financial products businesses are summarized as follows (in millions).
December 31,
2015 2014
Loans and finance receivables before allowances and discounts ................................... $13,186 $13,150
Allowances for uncollectible loans .......................................................... (182) (303)
Unamortized acquisition discounts .......................................................... (232) (281)
$12,772 $12,566
Loans and finance receivables are predominantly installment loans originated or acquired by our manufactured housing
business. Provisions for loan losses for 2015 and 2014 were $148 million and $173 million, respectively. Loan charge-offs, net
of recoveries, were $177 million in 2015 and $214 million in 2014. In 2015, we reclassified $93 million of allowances for
uncollectable loans and related installment loan receivables that were in-substance foreclosures or repossessions to other assets.
The reclassifications had no impact on earnings or cash flows. At December 31, 2015, approximately 98% of the loan balances
were evaluated collectively for impairment. As a part of the evaluation process, credit quality indicators are reviewed and loans
are designated as performing or non-performing. At December 31, 2015, approximately 99% of the loan balances were
determined to be performing and approximately 95% of the loan balances were current as to payment status.
(10) Property, plant and equipment and assets held for lease
A summary of property, plant and equipment of our insurance and other businesses follows (in millions).
Ranges of
estimated useful life
December 31,
2015 2014
Land ................................................................ — $ 1,689 $ 1,171
Buildings and improvements ............................................. 2–40years 7,329 6,600
Machinery and equipment ............................................... 3–25years 17,054 16,413
Furniture, fixtures and other .............................................. 1–30years 3,545 3,136
29,617 27,320
Accumulated depreciation ............................................... (14,077) (13,167)
$ 15,540 $ 14,153
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