伯克希尔哈撒韦-A 2025年二季度报告

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934For the transition period fromto 47-0813844(I.R.S.EmployerIdentificationNumber) (Stateorotherjurisdictionofincorporationororganization)3555 Farnam Street, Omaha, Nebraska 68131(Address of principal executive office) (Zip Code)(402) 346-1400(Registrant’s telephone number, including area code)(Former name, former address and former fiscal year, if changed since last report) Titleofeachclass Nameofeachexchangeonwhichregistered Class A Common StockClass B Common Stock1.125% Senior Notes due 20272.150% Senior Notes due 20281.500% Senior Notes due 20302.000% Senior Notes due 20341.625% Senior Notes due 20352.375% Senior Notes due 20390.500% Senior Notes due 20412.625% Senior Notes due 2059Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to filesuch reports), and (2) has been subject to such filing requirements for the past 90 days.Yes☒No☐Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that theRegistrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer☒Accelerated filer☐Non-accelerated filer☐Smaller reporting company☐Emerging growth company☐If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒ Number of shares of common stock outstanding as of October 20, 2025:Class A — Class B — 523,010 shares1,372,820,139 shares BERKSHIRE HATHAWAY INC. PartI–FinancialInformation Item1.FinancialStatements2ConsolidatedBalanceSheets—September30,2025andDecember31,20242ConsolidatedStatementsofEarnings—ThirdQuarterandFirstNineMonths2025and20244ConsolidatedStatementsofComprehensiveIncome—ThirdQuarterandFirstNineMonths2025and20245ConsolidatedStatementsofChangesinShareholders’Equity—ThirdQuarterandFirstNineMonths2025and20246ConsolidatedStatementsofCashFlows—FirstNineMonths2025and20247NotestoConsolidatedFinancialStatements8Item2.Management’sDiscussionandAnalysisofFinancialConditionandResultsofOperations34Item3.QuantitativeandQualitativeDisclosuresAboutMarketRisk53Item4.ControlsandProcedures53 PartII–OtherInformation Item1.LegalProceedings53Item1A.RiskFactors53Item2.UnregisteredSalesofEquitySecuritiesandUseofProceedsandIssuerRepurchasesofEquitySecurities53Item3.DefaultsUponSeniorSecurities53Item4.MineSafetyDisclosures54Item5.OtherInformation54Item6.Exhibits54 Signature Part I Financial InformationItem 1. Financial StatementsBERKSHIRE HATHAWAY INC.and SubsidiariesCONSOLIDATED BALANCE SHEETS(dollars in millions) See accompanying Notes to Consolidated Financial Statements BERKSHIRE HATHAWAY INC.and SubsidiariesCONSOLIDATED BALANCE SHEETS(dollars in millions) BERKSHIRE HATHAWAY INC.and SubsidiariesCONSOLIDATED STATEMENTS OF EARNINGS(dollars in millions except per share amounts)(Unaudited) BERKSHIRE HATHAWAY INC.and SubsidiariesCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME(dollars in millions)(Unaudited) BERKSHIRE HATHAWAY INC.and SubsidiariesCONSOLIDATED STATEMENTS OF CASH FLOWS(dollars in millions)(Unaudited) BERKSHIRE HATHAWAY INC.and SubsidiariesNOTES TO CONSOLIDATED FINANCIAL STATEMENTSSeptember 30, 2025 Note 1. General The accompanying unaudited Consolidated Financial Statements include the accounts of Berkshire Hathaway Inc. (“Berkshire”or “Company”) consolidated with the accounts of all subsidiaries and affiliates in which Berkshire holds a controlling financialinterest as of the financial statement date. In these notes, the terms “us,” “we” or “our” refer to Berkshire and its consolidatedsubsidiaries. Reference is made to Berkshire’s most recently issued Annual Report on Form 10-K (“Annual Report”), which includesinformation necessary or useful to understanding Berkshire’s businesses and financial statement presentations. Our significantaccounting policies and practices were presented as Note 1 to the Consolidated Financial Statements included in the Annual Report. Financial information in this Quarterly Report reflects all adjustments that are, in the opini