Berkshire Hathaway, Inc.

Berkshire Hathaway, Inc.

Berkshire Hathaway, Inc.

Overview
Date Founded

1998

Headquarters

136 East Putnam Avenue, Greenwich, Connecticut, 06830, United States

Type of Company

Public

Employees (Worldwide)

392K

Industries

Other Insurance Services
Wholesale: Consumer Non-Durables/Sundries
Chemicals
Power & Utilities
Insurance: Property & Casualty
Consumer Finance
Private Equity & Venture Capital
Real Estate
Food
Automobiles
Reinsurance
Railroads
Holding Companies

Company Description

Berkshire Hathaway, Inc. provides property and casualty insurance and reinsurance, utilities and energy, freight rail transportation, finance, manufacturing, retailing, and services. It operates through following segments: GEICO, Berkshire Hathaway Reinsurance Group, Berkshire Hathaway Primary Group, Burlington Northern Santa Fe, LLC (BNSF), Berkshire Hathaway Energy, McLane Company, Manufacturing, and Service and Retailing. The GEICO segments involves in underwriting private passenger automobile insurance mainly by direct response methods. The Berkshire Hathaway Reinsurance Group segment consists of underwriting excess-of-loss and quota-share and facultative reinsurance worldwide. The Berkshire Hathaway Primary Group segment comprises of underwriting multiple lines of property and casualty insurance policies for primarily commercial accounts. The BNSF segment operates railroad systems in North America. The Berkshire Hathaway Energy segments deals with regulated electric and gas utility, including power generation and distribution activities, and real estate brokerage activities. The McLane Company segment offers wholesale distribution of groceries and non-food items. The Manufacturing segment includes industrial and end-user products, building products, and apparel. The Service and Retailing segment provides fractional aircraft ownership programs, aviation pilot training, electronic components distribution, and various retailing businesses, including automobile dealerships, and trailer and furniture leasing. The company was founded by Oliver Chace in 1839 and is headquartered in Omaha, NE.

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Executives & Employees

Chief Executive Officer

Senior Vice President & Chief Financial Officer

Vice President & Controller

Director-Internal Auditing

Vice President

Vice President

Chief Executive Officer, Specialty-Insurance Unit

Vice Chairman-Insurance Operations

Vice Chairman, Non-Insurance Business Operations

Owner

Board of Directors

Co-Founder at The Susan Thompson Buffett Foundation

Vice Chairman at Berkshire Hathaway Assurance Corp.

Chairman & Chief Executive Officer at Howard G. Buffett Foundation

Founder at First Manhattan Co.

Chairman at Berkshire Hathaway Energy Company

Former Executive Vice President & Chief Operating Officer at Comcast Corporation

Chairman & Managing Director at General Catalyst LLC

Locomotive Engineer at Burlington Northern Santa Fe, LLC

Principal at Deck3 Ventures LLC

Former Chief Executive Officer at ABC, Inc.

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Berkshire Hathaway, Inc.
Owners & Shareholders
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The Vanguard Group is an American investment management company based in Malvern, Pennsylvania, that manages approximately $3.4 trillion[1] in assets. It is the largest provider of mutual funds and now the second-largest provider of exchange-traded funds (ETFs) in the world after BlackRock, with about $451 billion in ETF assets under management, as of March 2015.[3] It offers mutual funds and other financial products and services to retail and institutional investors in the United States and abroad. Founder and former chairman John C. Bogle is credited with the creation of the first index fund available to individual investors,[4] the popularization of index funds generally,[5] and driving costs down across the mutual fund industry.

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SSgA FM’s methods of analysis include quantitative, fundamental, technical, cyclical, indexing, arbitrage, charting and other strategy specific methods. They offer a broad range of strategies including: Active, Enhanced, and Passive Equity; Active & Passive Debt; Cash Management; Multi-Asset Class Solutions; Real Estate (including Direct Real Estate); Senior Loans; Managed Futures; and Private Equity. Active equity strategies include enhanced equity and active quantitative strategies. The strategies cover market-cap and style segments of the market including: large-cap core, large-cap growth, large-cap value, mid-cap, small-cap, small-cap value, all-cap, and long-short equity. They also manage long-short and long-short market neutral strategies. SSgA FM’s Active & Passive Debt strategies offers a range of investment styles from passive to active, short to long duration, tax-exempt, sovereign to high yield, and single country to global. The firm’s Cash Management strategies seek to generate current income while preserving capital and liquidity by investing in diversified portfolios of short-term securities. SSgA FM's Multi-Asset Class strategies employ an asset allocation model as means of diversification and seek to position assets among major investment categories. Their Multi Asset Class Solutions strategies employ an asset allocation model as a method of diversification that aims to position assets among major investment categories. SSgA FM’s Managed Futures strategy allocates assets using two approaches: a managed futures strategy and a fixed income strategy. The firm’s Private Equity strategies focus on rigorous partner selection, thorough evaluation of quality investment opportunities, and fundamental, research-driven research.

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BFA utilizes fixed-income strategies that are actively managed, model or index based. Actively managed fixed-income mandates generally employ an active investment style that emphasizes rotation among different types of debt on a relative value basis, specific security selection, quantitative analysis of each security and the portfolio as a whole and intensive credit analysis and review. They utilize a risk-controlled, systematic process for portfolio construction and alpha generation. Alpha sources may include security selection, duration and yield curve positioning, industry rotation, asset allocation, and currency positioning. BFA's equity platform includes a broad range of products that vary according to investment style (active, scientific and passive management), market-cap (small-, mid-, small/mid-, large- and all-cap), and geography (global, international and regional). The product range may also include sector funds, long-only and long-short portfolios, as well as products that combine different strategies to create balanced and asset allocation portfolios. For cash management portfolios, the investment process emphasizes safety and liquidity over yield. Their alternative mandates focus on sourcing and managing high-alpha investments with lower correlation to public markets and developing a holistic approach to address client needs in alternatives investing.

Recent Transactions
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Berkshire Hathaway, Inc., IMC International Metalworking Cos. BV purchase YG-1 Co., Ltd. from ISCAR Ltd.

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Berkshire Hathaway, Inc., Forest River, Inc. purchase Rev Group, Inc. /Two Shuttle Bus Business from REV Group, Inc.

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Berkshire Hathaway, Inc., MidAmerican Energy Co. purchase Gamesa Energy USA LLC /Pocahontas Prairie Wind Farm from Siemens AG

Insider Transactions
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Transaction Advisors
Accountant

Advised onBerkshire Hathaway, Inc. purchases General Re Corporation

Legal Advisor

Advised onBerkshire Hathaway, Inc. purchases Burlington Northern Santa Fe Corp.

Legal Advisor

Advised onBerkshire Hathaway, Inc. purchases Precision Castparts Corp.

Legal Advisor

Advised onBerkshire Hathaway, Inc. purchases Burlington Northern Santa Fe Corp.

Legal Advisor

Advised onBerkshire Hathaway, Inc. purchases Burlington Northern Santa Fe Corp.

Legal Advisor

Advised onBerkshire Hathaway, Inc. purchases Burlington Northern Santa Fe Corp.

Advisors & Consultants
Advisor

Partner at Munger, Tolles & Olson LLP

Legal Advisor

Attorney at Gibson, Dunn & Crutcher LLP

Legal Advisor

Fund Advisor at Legg Mason Partners Fund Advisor LLC

Clients

Loews Corporation is one of the largest diversified holding companies in the United States, with five operating subsidiaries: CNA Financial Corporation, one of the largest U.S. commercial property-casualty insurers; Diamond Offshore Drilling, Inc., one of the world’s largest offshore drilling companies; HighMount Exploration & Production LLC, a domestic natural gas exploration and production company; Boardwalk Pipeline Partners, LP, an operator of interstate natural gas pipeline systems; and Loews Hotels, one of the country’s top luxury lodging companies.

Seven & i Holdings Co., Ltd. engages in the planning, management, and operation of its group companies. It operates through the following segments: Domestic Convenience Store, Oversea Convenience Store, Superstore Operations, Department Store Operations, Financial Services, Specialty store, and Others. The Domestic Convenience Store segment operates directly managed and franchised stores under the name of 7-Eleven in Japan. The Oversea Convenience Store segment operates directly managed and franchised stores under the name of 7-Eleven in oversea. The Superstore Operations segment manages supermarkets and specialty shops. The Department Store Operations segment includes department store business, which mainly centers on Sogo and Seibu Co., Ltd. The Financial Services segment deals with bank, credit card, lease, and other businesses. The Specialty store segment engages in the retail business that provides distinctive products and services. The Others segment includes information technology business and other services. The company was founded in 1920 and is headquartered in Tokyo, Japan.

AIG

American International Group, Inc. (AIG) is a leading international insurance organization serving customers in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG traces its root to 1919, when American Cornelius Vander Starr established a general insurance agency, American Asiatic Underwriters, in Shanghai, China. Since then, an enterprising spirit, ingenuity, and tenacity have built the company into one of the world’s leading insurers. Today, AIG is focused on what it has been known for since the beginning: the willingness and ability to provide insurance coverage to meet the diverse needs of its clients.

Key Stats and Financials As of 2019
Market Capitalization
$546B
Total Enterprise Value
$545B
Earnings Per Share
$33.22
Revenue
$255B
Net Profit
$81.4B
EBITDA
$42.7B
EBITDAMargin
16.79%
Total Debt
$115B
Total Equity
$429B
Enterprise Value / Sales
2.14x
Enterprise Value EBITDAOperating
12.62x
TEVNet Income
6.7x
Debt TEV
0.21x
Three Year Compounded Annual Growth Rate Of Revenue
4.53%
Non-Profit Donations & Grants
Investments
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One 97 Communications Ltd. engages in the development of digital goods and mobile commerce platform. It offers top-ups, tickets, hotel booking, superstar talk, deals, music, video, games and mobile content. The company was founded by Vijay Shekhar Sharma in 2001 and is headquartered in Noida, India.

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Cryotherapeutics SA develops and markets a cryotherapy system, with focus on highlighting the safety and efficacy of cryoneergy in the cardiovascular system. The firm specializes in the design of a proprietary system to be used in the treatment of coronary artery diseases that cause heart attacks. Its focus areas encompass technology research, system development, and early-stage product commercialization. The company was founded by Randell L. Werneth, John Yianni and Maurice Buchbinder on September 8, 2009 and is headquartered in Cologne, Germany.

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Reverse Medical Corp. develops medical devices. The company was founded by Jeffrey Valko and Michael R. Henson in 2007 and is headquartered in Irvine, CA.

Investors
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Hereditary Peer at United Kingdom House of Lords

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Co-Founder at Motability

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Life Peer at United Kingdom House of Lords

Suppliers
La-Z-Boy Incorporated Industrial Machinery & Manufacturing | Monroe, MI

La-Z-Boy, Inc. engages in the production of reclining chairs and manufacture and distribution of residential furniture. It operates through the following segments: Upholstery, Casegoods, Retail, and Corporate and Other. The Upholstery segment manufactures and imports recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas. The Casegoods segment markets and distributes wood furniture such as bedroom sets, dining room sets, entertainment centers, and occasional pieces; and also manufactures some custom upholstered furniture. The Retail segment primarily sells upholstered furniture, in addition to some casegoods and other accessories, to the end consumer through the retain network. The Corporate and Other segment includes the shared costs for corporate functions, including human resources, information technology, finance, and legal. The company was founded by Edwards M. Knabusch and Edwin J. Shoemaker in 1927 and is headquartered in Monroe, MI.

Leggett & Platt, Inc. Industrial Machinery & Manufacturing | Carthage, MO

Leggett & Platt, Inc. engages in the manufacture and distribution of furniture and engineered components; and products among homes, offices, automobiles, and commercial aircraft. It operates through the following segments: Bedding, Flooring & Textile, and Specialized Products. The Bedding Products segment supplies of products and components for the home, including mattress springs and specialty foam, as well as adjustable beds, bedding machinery, steel rod, and drawn wire. The Flooring & Textile Products segment is a producer of an extensive line of components and engineered systems for office, residential, and contract furniture manufacturers. The Specialized Products segment supplies titanium, nickel, and stainless steel tubing for the aerospace industry, and serve the construction market with hydraulic cylinders group. The company was founded J. P. Productsand C. B. Platt in 1883 and is headquartered in Carthage, MO.

Gogo, Inc. Internet Software & Services | Itasca, IL

Gogo, Inc. engages in the provision of in-flight broadband connectivity and wireless entertainment services. It operates through the following segments: Commercial Aviation North American (CA-NA); Commercial Aviation Rest of World (CA-ROW); and Business Aviation (BA). The CA-NA segment offers a broad range of connectivity and entertainment services to commercial airlines flying routes. The CA-ROW segment covers satellite-based connectivity and entertainment services to foreign-based commercial airlines and North American based commercial airlines when flying routes outside of North America. The BA segment comprises of a broad suite of in-flight Internet connectivity and other voice and data communications products and services under its Gogo Business Aviation brand to the business aviation market. The company was founded in 1991 and is headquartered in Chicago, IL.

Competitors
The Home Depot Retail: Home Improvement - Atlanta, GA

The Home Depot, Inc. engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products, and decor products. It offers home improvement installation services,and tool and equipment rental. The company was founded by Bernard Marcus, Arthur M. Blank, Kenneth Gerald Langone, and Pat Farrah on June 29, 1978 and is headquartered at Atlanta, GA.

Kyocera Corporation Semiconductors - Kyoto, Jpn

Kyocera Corp. engages in the design, development, production, manufacture and sale electronic equipment. It operates through the following segments: Fine Ceramics, Semiconductor Components, Applied Ceramic Products, Electronic Devices, Telecommunications Equipment, Information Equipment and Others. The Fine Ceramics segment provides components for semiconductor processing equipment, flat panel display manufacturing equipment, information and telecommunication, general industrial machinery, sapphire substrates, and automotive. The Semiconductor Components segment caters ceramic packages for crystal and saw devices, ceramic metal oxide semiconductor/charge coupled device image sensor ceramic packages, large scale integration ceramic packages, wireless communication device packages, optical communication device packages and components, and organic multilayer packages. The Applied Ceramic Products segment handles the residential and commercial use solar power generating systems, solar cells and modules, cutting tools, micro drills, medical and dental implants, and jewelry and applied ceramic products. The Electronic Devices segment offers ceramic capacitors, tantalum capacitors, saw devices, radio frequency modules, electromagnetic interference filters, clock oscillators, crystal units, ceramic resonators, optical low pass filters, connectors, thermal print heads, inkjet print heads, amorphous silicon photoreceptor drums, liquid crystal displays, and touch panel. The Telecommunications Equipment segment markets mobile phones, and personal handy phone system handsets and base stations. The Information Equipment segment distributes monochrome and color printers, multifunctional products, wide format systems, document solutions, application software, and supplies. The Others segment administers information systems and telecommunication services, engineering business, management consulting business, epoxy molding compounds for semiconductor encapsulation, electrical insulators, flexible printed circuit sheet materials, synthetic resin molded parts, realty development business, and light emitting diode lighting systems. The company was founded by Kazuo Inamori on April 1, 1959 and is headquartered in Kyoto, Japan.

Progressive Corp. Insurance: Property & Casualty - Mayfield Village, OH

Progressive Corp. is an insurance holding company, which engages in the provision of personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services. It operates through the following segments: Personal Lines, Commercial Lines and Property. The Personal Lines segment includes agency and direct businesses. The Commercial Lines segment writes primary liability and physical damage insurance for automobiles and trucks owned and operated predominately by small business in the auto, for-hire transportation, contractor, for-hire specialty, tow, and for-hire livery markets. The Property segment covers residential property insurance for homeowners, other property owners, and renters. The company was founded in 1965 and is headquartered in Mayfield Village, OH.

Awards & Honors
Rank #4
2016
Fortune Magazine - Fortune 1000 Companies
Sponsored by Fortune Magazine
Rank #4
2016
Fortune Magazine - Fortune 500 Companies
Sponsored by Fortune Magazine
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