Berkshire Hathaway said net earnings attributable to Berkshire shareholders for Q1 2025 were $4,603 million, compared with $12,702 million for Q1 2024. Investment losses were $(5,038) million and operating earnings were $9,641 million.

1. 01

   Berkshire Hathaway said net earnings attributable to Berkshire shareholders for Q1 2025 were $4,603 million, compared with $12,702 million for Q1 2024. Investment losses were $(5,038) million and operating earnings were $9,641 million.

2. 02

   The company said investment losses for Q1 2025 included losses of approximately $7.4 billion from changes in unrealized gains and after-tax realized gains on sales of investments of $2.4 billion. For Q1 2024, investment losses were approximately $9.7 billion and realized gains were $11.2 billion.

3. 03

   Berkshire said operating earnings for Q1 2025 included Insurance-underwriting of $1,336 million (compared with $2,598 million for Q1 2024), Insurance-investment income of $2,893 million, and Berkshire Hathaway Energy Company of $1,097 million (compared with $717 million for Q1 2024).

4. 04

   The company said insurance float (the net liabilities assumed under insurance contracts) as of March 31, 2025 was approximately $173 billion, an increase of approximately $2 billion since year-end 2024.

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