UNITED STATES SECURITIES AND EXCHANGE …

1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, 20549 FORM 10-Q (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2018 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-14905 BERKSHIRE HATHAWAY INC. (Exact name of registrant as specified in its charter) Delaware47-0813844(State or other jurisdiction ofincorporation or organization)( EmployerIdentification Number)3555 Farnam Street, Omaha, Nebraska 68131 (Address of principal executive office) (Zip Code) (402) 346-1400 (Registrant s telephone number, including area code) (Former name, former address and former fiscal year, if changed since last report) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SECURITIES EXCHANGE Act of 1934 during the preceding 12 months and (2)

2 Has been subject to such filing requirements for the past 90 days. Yes No Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T ( of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company.

3 See the definitions of large accelerated filer, accelerated filer, smaller reporting company, and emerging growth company in Rule 12b-2 of the EXCHANGE Act. Large accelerated filer Accelerated filer Non-accelerated filer Smaller reporting company Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the EXCHANGE Act. Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).

4 Yes No Number of shares of common stock outstanding as of April 27, 2018: Class A 747,677 Class B 1,346,076,963 BERKSHIRE HATHAWAY INC. Page No. Part I Financial Information Item 1. Financial Statements Consolidated Balance Sheets March 31, 2018 and December 31, 20172-3 Consolidated Statements of Earnings First Quarter 2018 and 20174 Consolidated Statements of Comprehensive Income First Quarter 2018 and 20175 Consolidated Statements of Changes in Shareholders Equity First Quarter 2018 and 20175 Consolidated Statements of Cash Flows First Quarter 2018 and 20176 Notes to Consolidated Financial Statements7-24 Item s Discussion and Analysis of Financial Condition and Results of Operations25-42 Item and Qualitative Disclosures About Market Risk42 Item and Procedures42 Part II Other Information43 Item Proceedings43 Item Factors43 Item Sales of Equity SECURITIES and Use

5 Of Proceeds and Issuer Repurchases of Equity Securities43 Item Upon Senior Securities43 Item Safety Disclosures43 Item Information43 Item 441 Part I Financial Information Item 1. Financial Statements BERKSHIRE HATHAWAY INC. and Subsidiaries CONSOLIDATED BALANCE SHEETS (dollars in millions) March 31,2018 December 31,2017(Unaudited)ASSETSI nsurance and Other:Cash and cash equivalents$ 50,559 $ 25,460 Short-term investments in Treasury Bills48,04078,515 Investments in fixed maturity securities19,92021,353 Investments in equity securities166,658164,026 Investment in The Kraft Heinz Company (Fair Value: 2018 $20,272.)

6 2017 $25,306)17,68717,635 Receivables30,90628,578 Inventories16,24416,187 Property, plant and equipment23,80720,104 Goodwill55,07954,985 Other intangible assets32,26032,518 Deferred charges under retroactive reinsurance contracts15,00715,278 Other11,93911,158488,106485,797 Railroad, Utilities and Energy:Cash and cash equivalents3,5502,910 Property, plant and equipment128,385128,184 Goodwill24,76624,780 Regulatory assets2,9872,950 Other15,39415,589175,082174,413 Finance and Financial Products:Cash and cash equivalents3,7723,213 Short-term investments in Treasury Bills2,6415,856 Loans and finance receivables13,84513,748 Property, plant and equipment and assets held for lease9,9209,931 Goodwill1,4921,493 Other7,7937,64439,46341,885$ 702,651 $ 702,095 See accompanying Notes to Consolidated Financial Statements 2 BERKSHIRE HATHAWAY INC.

7 And Subsidiaries CONSOLIDATED BALANCE SHEETS (dollars in millions) March 31,2018 December 31,2017(Unaudited)LIABILITIES AND SHAREHOLDERS EQUITYI nsurance and Other:Unpaid losses and loss adjustment expenses$ 62,094$ 61,122 Unpaid losses and loss adjustment expenses under retroactive reinsurance contracts42,34442,937 Unearned premiums18,44816,040 Life, annuity and health insurance benefits17,93517,608 Other policyholder liabilities7,8647,654 Accounts payable, accruals and other liabilities25,78223,099 Notes payable and other borrowings25,66327,324200,130195,784 Railroad, Utilities and Energy:Accounts payable, accruals and other liabilities10,78611,334 Regulatory liabilities7,5997,511 Notes payable and other borrowings62,66762,17881,05281,023 Finance and Financial Products:Accounts payable, accruals and other liabilities1,5661,470 Derivative contract liabilities2,3782,172 Notes payable and other borrowings10,75513,08514,69916,727 Income taxes, principally deferred55,71856,607 Total liabilities351,599350,141 Shareholders equity.

8 Common stock88 Capital in excess of par value35,68135,694 Accumulated other comprehensive income(2,477) 58,571 Retained earnings315,952255,786 Treasury stock, at cost(1,763) (1,763) Berkshire Hathaway shareholders equity347,401348,296 Noncontrolling interests3,6513,658 Total shareholders equity351,052351,954$ 702,651$ 702,095 See accompanying Notes to Consolidated Financial Statements 3 BERKSHIRE HATHAWAY INC. and Subsidiaries CONSOLIDATED STATEMENTS OF EARNINGS (dollars in millions except per share amounts) First Quarter20182017(Unaudited)Revenues:Insur ance and Other:Insurance premiums earned $ 13,373$ 21,753 Sales and service revenues31,62330,229 Interest, dividend and other investment income1,3151,16246,31153,144 Railroad, Utilities and Energy operating and other revenues10,1029,378 Finance and Financial Products:Sales and service revenues1,6931,498 Interest, dividend and other investment income3673502,0601,848 Total revenues58,47364,370 Investment and derivative contract gains/losses.

9 Investments gains (losses)(7,809) 315 Derivative contract gains (losses)(206) 460(8,015) 775 Costs and expenses:Insurance and Other:Insurance losses and loss adjustment expenses8,96318,566 Life, annuity and health insurance benefits1,2871,227 Insurance underwriting expenses2,6042,339 Cost of sales and services25,41524,360 Selling, general and administrative expenses4,0244,116 Interest expense39027042,68350,878 Railroad, Utilities and Energy:Cost of sales and operating expenses7,4016,754 Interest expense7106938,1117,447 Finance and Financial Products:Cost of sales and services1,029867 Selling, general and administrative expenses467442 Interest expense921041,5881,413 Total costs and expenses52,38259,738 Earnings (loss) before income taxes and equity method earnings(1,924) 5,407 Equity method earnings401281 Earnings (loss) before income taxes(1,523) 5,688 Income tax expense (benefit)(452) 1,549 Net earnings (loss)(1,071) 4,139 Earnings attributable to noncontrolling interests6779 Net earnings (loss) attributable to Berkshire Hathaway shareholders$ (1,138) $ 4,060 Net earnings (loss)

10 Per average equivalent Class A share$ (692) $ 2,469 Net earnings (loss) per average equivalent Class B share*$ ( ) $ equivalent Class A shares outstanding1,644,9581,644,425 Average equivalent Class B shares outstanding2,467,436,888 2,466,636,938* Net earnings (loss) per average equivalent Class B share outstanding are one-fifteen-hundredth of the equivalent Class A amount. See accompanying Notes to Consolidated Financial Statements 4 BERKSHIRE HATHAWAY INC. and Subsidiaries CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (dollars in millions) First Quarter20182017(Unaudited)Net earnings (loss) $(1,071) $ 4,139 Other comprehensive income.