Berkshire Hathaway-A 2026 年季度报告

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 besubmitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, asmaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” 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 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 — 505,697shares1,398,308,677shares BERKSHIRE HATHAWAY INC. Part I – Financial Information Item 1. Financial StatementsConsolidated Balance Sheets—March 31, 2026 and December 31, 2025Consolidated Statements of Earnings—First Quarter 2026 and 2025Consolidated Statements of Comprehensive Income—First Quarter 2026 and 2025Consolidated Statements of Changes in Shareholders’ Equity—First Quarter 2026 and 2025Consolidated Statements of Cash Flows—First Quarter 2026 and 2025Notes to Consolidated Financial StatementsItem 2.Management’s Discussion and Analysis of Financial Condition and Results of OperationsItem 3.Quantitative and Qualitative Disclosures About Market RiskItem 4.Controls and Procedures Part II – Other Information Part I Financial InformationItem 1. Financial StatementsBERKSHIRE HATHAWAY INC.and SubsidiariesCONSOLIDATED BALANCE SHEETS BERKSHIRE HATHAWAY INC.and SubsidiariesCONSOLIDATED BALANCE SHEETS BERKSHIRE HATHAWAY INC.and SubsidiariesCONSOLIDATED STATEMENTS OF EARNINGS BERKSHIRE HATHAWAY INC.and SubsidiariesCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME BERKSHIRE HATHAWAY INC.and SubsidiariesCONSOLIDATED STATEMENTS OF CASH FLOWS(dollars in millions)(Unaudited) BERKSHIRE HATHAWAY INC.and Subsidiaries NOTES TO CONSOLIDATED FINANCIAL STATEMENTSMarch 31, 2026 Note 1. General Theaccompanying 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 controllingfinancial interest as of the financial statement date. In these notes, the terms “us,” “we” or “our” refer to Berkshire and itsconsolidated subsidiaries. Reference is made to Berkshire’s most recently issued Annual Report on Form 10-K (“Annual Report”), Financial information in this Quarterly Report reflects all adjustments that are, in the opinion of management, necessary to afair statement 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. Thetiming and magnitude of catastrophe losses incurred by insurance subsidiaries and the estimation error inherent to the process ofdetermining liabilities for unpaid losses of insurance subsidiaries can be more significant to results of interim periods than to results Significant estimates are used in the preparation of our Consolidated Financial Statements, including those associated withevaluations of certain long-lived assets, goodwill and indefinite-lived intangible assets for impairment, expected credit losses onamounts owed to us and the estimation of losses assumed under insurance and reinsurance contracts. Estimates may be subject to In November 2024, the FASB issued Accounting Standards Update 2024-03, “Disaggregation of Income StatementExpenses” (“ASU 2024-03”), which requires disclosure in the notes to the financial statements of specific categories underlyingcertain expense captions on the income statement, as well as certain qualitative disclosures. ASU 2024-03 may be adopted Note 2. Business acquisitions Our long-held strategy is to acquire businesses that we believe possess consistent earning power, good returns on equity andable and honest management. Financial results attributable to a business acquisition are included in our Consolidated Financial On January 2, 2026, Berkshire completed the acquisition of Occidental Petroleum Corporation’s (“Occidental”) chemicalsbusiness (“OxyChem”) pursuant to an agreement that was entered into on October 1, 2025. Consideration paid to Occidental wasapproximately $9.5 billion, which is subject to adjustment pursuant to the terms of the agreement. Also purs