not vested
Berkshire Hathaway on Saturday reported a big rise in operating earnings in the fourth quarter, thanks to huge gains in its insurance business, while its cash pile expanded to record levels.
The Omaha-based conglomerate posted operating earnings — which refers to profits from businesses across insurance, railroads and utilities — of US$8.481 billion in the quarter ending December.
That’s 28% above the US$6.625 billion from the year-ago period.
For the full year 2023, that brought operating earnings up to US$37.350 billion, up 17% from US$30.853 billion in the prior year.
Berkshire also held US$167.6 billion in cash in the fourth quarter, a record level that surpasses the US$157.2 billion the conglomerate held in the prior quarter.
Source: Phillips