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Berkshire Hathaway-A | 8-K: Fourth Quarter and Full Year Results for 2022 and 2023

SEC announcement ·  Feb 27 02:56
Summary by Futu AI
On February 24, 2024, Berkshire Hathaway Inc. released its earnings report for the fourth quarter and the full year of 2023. The report, which was made public through a press release and is detailed in the company's Form 8-K filed with the SEC, shows a significant increase in net earnings attributable to Berkshire shareholders, amounting to $37,574 million for the quarter and $96,223 million for the year. This is a notable improvement from the previous year's net loss of $22,759 million. The earnings include substantial investment and derivative gains, with $29,093 million recorded in the fourth quarter and $58,873 million over the full year. Operating earnings were also strong, reported at $8,481 million for the quarter and $37,350 million for the year. The company highlights that these figures...Show More
On February 24, 2024, Berkshire Hathaway Inc. released its earnings report for the fourth quarter and the full year of 2023. The report, which was made public through a press release and is detailed in the company's Form 8-K filed with the SEC, shows a significant increase in net earnings attributable to Berkshire shareholders, amounting to $37,574 million for the quarter and $96,223 million for the year. This is a notable improvement from the previous year's net loss of $22,759 million. The earnings include substantial investment and derivative gains, with $29,093 million recorded in the fourth quarter and $58,873 million over the full year. Operating earnings were also strong, reported at $8,481 million for the quarter and $37,350 million for the year. The company highlights that these figures are after-tax and include the impact of unrealized gains/losses on equity security investments as required by GAAP. Berkshire Hathaway's press release emphasizes the importance of reading the full 2023 Annual Report for a complete investment analysis and cautions that the limited information in the press release is not sufficient for making an informed investment judgment. The company also reported the use of approximately $9.2 billion for share repurchases during 2023 and noted an increase in insurance float to approximately $169 billion as of year-end 2023.

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