Berkshire Hathaway 2004 Annual Report Download - page 33

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32
BERKSHIRE HATHAWAY INC.
and Subsidiaries
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
AND COMPREHENSIVE INCOME
(dollars in millions)
Year Ended December 31,
2004 2003 2002
Class A & B Common Stock
Balance at beginning and end of year........................................................ $ 8 $ 8 $ 8
Capital in Excess of Par Value
Balance at beginning of year ..................................................................... $26,151 $26,028 $25,607
Common stock issued in connection with business acquisitions ........... — — 324
Exercise of stock options issued in connection with business
acquisitions and SQUARZ warrant premiums.................................. 117 123 97
Balance at end of year................................................................................ $26,268 $26,151 $26,028
Retained Earnings
Balance at beginning of year ..................................................................... $31,881 $23,730 $19,444
Net earnings ........................................................................................... 7,308 8,151 4,286
Balance at end of year................................................................................ $39,189 $31,881 $23,730
Accumulated Other Comprehensive Income
Unrealized appreciation of investments..................................................... $ 2,599 $10,842 $ 2,860
Applicable income taxes ...................................................................... (905) (3,802) (1,029)
Reclassification adjustment for appreciation
included in net earnings .................................................................... (1,569) (2,922) (638)
Applicable income taxes ...................................................................... 549 1,023 223
Foreign currency translation adjustments .................................................. 140 267 272
Applicable income taxes ...................................................................... 134 (127) (65)
Minimum pension liability adjustment ...................................................... (38) 1 (279)
Applicable income taxes ...................................................................... 3 (3) 29
Other.......................................................................................................... (34) 6 7
Other comprehensive income .................................................................... 879 5,285 1,380
Accumulated other comprehensive income at beginning of year .............. 19,556 14,271 12,891
Accumulated other comprehensive income at end of year ........................ $20,435 $19,556 $14,271
Comprehensive Income
Net earnings............................................................................................... $ 7,308 $ 8,151 $ 4,286
Other comprehensive income .................................................................... 879 5,285 1,380
Total comprehensive income..................................................................... $ 8,187 $13,436 $ 5,666
See accompanying Notes to Consolidated Financial Statements