Berkshire Hathaway A 2026 First Quarter Report

(Mark One)☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934For the quarterly period ended March 31, 2026ORTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES Delaware47-0813844(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification Number)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) Securities registered pursuant to Section 12(b) of the Act:Title of each class Trading Symbols 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 2041 Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant 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, a 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. Accelerated filerSmaller reporting company☐Emerging growth company☐ Large accelerated filer☒Non-accelerated filer If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition periodfor complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Yes☐No☒Number of shares of common stock outstanding as of April 14, 2026:Class A —Class B — 505,697 shares1,398,308,677 shares BERKSHIRE HATHAWAY INC. 222 Part I–Financial Information Item 1. Financial StatementsConsolidated BalanceSheets—March31, 2026 and December 31, 2025 Consolidated Statements ofEarnings—FirstQuarter 2026 and 2025Consolidated Statements of ComprehensiveIncome—FirstQuarter 2026 and 2025Consolidated Statements of Changes inShareholders’Equity—FirstQuarter 2026 and 2025Consolidated Statements of CashFlows—FirstQuarter 2026 and 2025Notes to Consolidated Financial Statements Item 2.Management’sDiscussion and Analysis of Financial Condition and Results of Operations Item 3.Quantitative and Qualitative Disclosures About Market RiskItem 4.Controls and Procedures Part II–Other Information Item 1.Legal ProceedingsItem 1A.Risk FactorsItem 2.Unregistered Sales of Equity Securities and Use of Proceeds and Issuer Repurchases of Equity SecuritiesItem 3.Defaults Upon Senior SecuritiesItem 4.Mine Safety DisclosuresItem 5.Other InformationItem 6.ExhibitsSignature Part I Financial InformationItem 1. Financial StatementsBERKSHIRE HATHAWAY INC.and SubsidiariesCONSOLIDATED BALANCE SHEETS 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) BERKSHIRE HATHAWAY INC.and SubsidiariesCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME(dollars in millions) BERKSHIRE HATHAWAY INC.and SubsidiariesCONSOLIDATED STATEMENTS OF CASH FLOWS(dollars in millions) BERKSHIRE HATHAWAY INC.and Subsidiaries NOTES TO CONSOLIDATED FINANCIAL STATEMENTSMarch 31, 2026 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 includes Financial information in this Quarterly Report reflects all adjustments that are, in the opinion of management, necessary to a fairstatement of results for the interim periods in accordance with accounting principles generally accepted in the United States(“GAAP”). For several reasons, our results for interim periods may not be indicative of results to be expected for the year. The timingand magnitude of catastrophe losses incurred by insurance subsidiaries and the estimation e