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Total Expense Breakdown
Details core costs across the company—insurance loss and adjustment expenses, underwriting and administrative costs, and corporate overhead—revealing how efficiently Berkshire runs its diverse businesses. Understanding expense composition helps pinpoint margin pressure and where management is allocating resources.The 2024‑Q4 line items are distorted by a large one‑off — Utilities & Energy swings dramatically negative while Sales & Service spikes — signaling accounting/transaction effects (likely BHE remeasurement or reclassification) that mask the business trend. Under the noise, Sales & Service costs have stepped up from ~30B to the low‑40Bs by early‑2026, SG&A shows recurring year‑end jumps, and Insurance Losses/Underwriting remain elevated and cyclical. In short: watch through the 2024‑Q4 one‑offs — operating cost base and insurance expense pressure are the real drivers for margins going forward.
Date | Other | Impairments | Selling, General, and Administrative | Sales and Service | Insurance Losses | Utilities and Energy | Freight and Rail Transport | Underwriting | Annuity and Health Benefits | Leasing | Railroad Interest Expense | Interest, Insurance, and Other |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun 30, 2026 | $1.19B | $0.00 | $6.72B | $45.95B | $14.27B | $4.13B | $4.31B | $4.79B | $1.23B | $2.14B | $1.02B | $315.00M |
Mar 31, 2026 | $856.00M | $0.00 | $6.56B | $41.21B | $14.20B | $4.32B | $3.92B | $4.52B | $1.02B | $2.03B | $977.00M | $324.00M |
Dec 31, 2025 | $1.04B | $0.00 | $7.84B | $41.02B | $14.85B | $4.13B | $3.90B | $4.50B | $1.06B | $2.03B | $952.00M | $346.00M |
Sep 30, 2025 | $1.12B | $0.00 | $6.29B | $40.88B | $13.73B | $4.58B | $3.86B | $4.43B | $1.12B | $1.88B | $936.00M | $325.00M |
Jun 30, 2025 | $1.15B | $0.00 | $7.93B | $39.62B | $14.07B | $4.16B | $3.73B | $4.46B | $1.13B | $1.89B | $935.00M | $318.00M |
Mar 31, 2025 | $846.00M | $0.00 | $7.68B | $38.55B | $14.65B | $4.09B | $3.87B | $4.37B | $1.07B | $1.89B | $917.00M | $340.00M |
Dec 31, 2024 | $1.00B | $0.00 | $8.35B | $73.53B | $13.47B | -$30.71B | $4.26B | $4.08B | $1.03B | $1.86B | $807.00M | $633.00M |
Sep 30, 2024 | $1.10B | $0.00 | $7.32B | $30.32B | $15.16B | $14.61B | $3.85B | $4.93B | $925.00M | $1.77B | $899.00M | $315.00M |
Jun 30, 2024 | $1.23B | $0.00 | $5.20B | $30.39B | $14.11B | $16.82B | $3.91B | $4.05B | $954.00M | $1.74B | $900.00M | $330.00M |
Mar 31, 2024 | $1.00B | $0.00 | $4.77B | $29.39B | $13.45B | $16.27B | $3.94B | $3.75B | $945.00M | $1.69B | $1.00B | $316.00M |