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Total Operating Earnings
$12,983.0M
+14.4% QoQ · +16.3% YoY
Insurance-Underwriting Earnings
$1,731.0M
+0.8% QoQ · -13.1% YoY
Insurance-Investment Income
$3,059.0M
+14.2% QoQ · -9.1% YoY
BNSF Railroad Earnings
$1,558.0M
+13.1% QoQ · +6.3% YoY
Berkshire Hathaway Energy Earnings
$891.0M
-20.0% QoQ · +26.9% YoY
Insurance Float
177.5$B
+0.3% QoQ · +2.0% YoY
Total Operating Earnings ($M)
Insurance-Underwriting Earnings ($M)
Insurance-Investment Income ($M)
BNSF Railroad Earnings ($M)
Berkshire Hathaway Energy Earnings ($M)
Why these KPIs
Berkshire's earnings release breaks operating earnings into the same five segments -- Insurance-underwriting, Insurance-investment income, BNSF, Berkshire Hathaway Energy, and Manufacturing/service/retailing -- every quarter, and always states total insurance float, which management itself calls out as the key measure of investable capital generated by the insurance operations. Net earnings itself is dominated by unrealized equity-investment gains/losses that management explicitly tells investors to disregard as noise, so operating earnings and its segments are the comparable quarterly metrics.
| Period | Total Operating Earnings | Insurance-Underwriting Earnings | Insurance-Investment Income | BNSF Railroad Earnings | Berkshire Hathaway Energy Earnings | Insurance Float |
|---|
| Q3 2024 | $10,090.0M | $750.0M | $3,664.0M | $1,383.0M | $1,629.0M | 174.0$B |
| Q4 2024 | $14,527.0M | $3,409.0M | $4,088.0M | $1,278.0M | $729.0M | 171.0$B |
| Q1 2025 | $9,641.0M | $1,336.0M | $2,893.0M | $1,214.0M | $1,097.0M | 173.0$B |
| Q2 2025 | $11,160.0M | $1,992.0M | $3,367.0M | $1,466.0M | $702.0M | 174.0$B |
| Q3 2025 | $13,485.0M | $2,369.0M | $3,181.0M | $1,449.0M | $1,489.0M | 176.0$B |
| Q4 2025 | $10,200.0M | $1,561.0M | $3,072.0M | $1,347.0M | $691.0M | 176.0$B |
| Q1 2026 | $11,346.0M | $1,717.0M | $2,679.0M | $1,377.0M | $1,114.0M | 176.9$B |
| Q2 2026 | $12,983.0M | $1,731.0M | $3,059.0M | $1,558.0M | $891.0M | 177.5$B |