The Berkshire Archive

2014

Index Book About

Berkshire Hathaway · Year by year

2014

Annual percentage change
Measure 2014
Per-share book value of Berkshire 8.3
Market value of Berkshire 27.0
S&P 500 with dividends included 13.7
Where 2014’s change in book value came from
Where the change came from — points of per-share book value

Assets

  • Cash23.9
  • Fixed income18.0
  • Common stocks48.3
  • Financial products6.0
  • Utility, energy, rail36.1
  • Other net assets32.3

Funded by

  • Net worth100.0
  • Debt4.9
  • Insurance float34.5
  • Deferred tax float25.2
What the company was made of — percent of net worth. Every dollar of net worth carried $1.65 of assets.

Note: figures in parentheses are losses. Source: Berkshire Hathaway annual reports.

The 2014 letter The 2014 meeting

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