Losch Management Company

20 Year Financial Tables

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Financial Tables

 

The data in these tables is taken from our collection of Berkshire Hathaway's annual reports which dates back to 1989. The data comes from the Balance Sheets, Cash Flow Statements, and from the Tables in the Business Segments Data.

1. Equity Purchases and Sales.

This Table compares Berkshire's purchases and sales of equity securities and shows the annual balance of purchases or sales. These figures are taken from the Cash Flow Statements. It also lists realized capital gains for each year covered.

2. Operating Earnings and Capital Gains.

This table compares after-tax operating income each year with capital gains, and shows that while Buffett says the gains are not predictive of future results, they have been an important source of cash for investments.

3. Pre-tax Operating Earnings

his table is a 20 year history of pre-tax earnings for Berkshire' operating businesses With Underwriting Gain and Investment Income listed for the Insurance Business, and compared to the pre-tax Income of Berkshires  other operating businesses.

4.  Acquisitions 1986-2006

This is a list companies that Berkshire has purchased since 1986. The total cash spent on purchases of subsidiaries in the last 20 years is $31.6 billion.

5. Cash Flow

For the purpose of this table cash flow is defined as after-tax earnings plus the increase in float.

6. Capital Expenditures of Operating Businesses

This table lists the Capital Expenditures of Berkshire's operating businesses, and shows these expenses as a percentage of pre-tax income. It is interesting that Berkshire has spent more money on this internal expansion in the last two years ($6.76 billion) than it did in the previous 18 years ($6.23 billion). The $4.6 billion spent last year is more than Berkshire has spent on acquisitions in any year except 2006.

7. Spending on Investments

        Berkshires total spending on Investments.

8. Two Column Valuation Method

        This table calculates Berkshire's Intrinsic value by using the "Two Column" approach as mentioned by Buffett in the 1999 Annual Report

 

 

 

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     Last modified: March 16, 2008