Item 6. Selected Financial Data

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Selected Financial Data for the Past Five Years

(dollars in millions except per-share data)


	2018			2017		2016		2015		2014
Revenues:
Insurance premiums earned	$	57,418		$	60,597	$	45,881	$	41,294	$	41,253
Sales and service revenues		133,336			130,243		123,053		110,811		100,606
Leasing revenue		5,732			2,552		2,553		1,546		1,463
Railroad, utilities and energy revenues		43,673			40,005		37,447		39,923		40,610
Interest, dividend and other investment income		7,678			6,536		6,180		6,867		6,484

Total revenues	$	247,837		$	239,933	$	215,114	$	200,441	$	190,416


Investment and derivative gains/losses	$	(22,455	)	$	2,128	$	8,304	$	10,347	$	4,081


Earnings:
Net earnings attributable to Berkshire Hathaway (1)	$	4,021		$	44,940	$	24,074	$	24,083	$	19,872

Net earnings per share attributable to Berkshire Hathaway shareholders (2)	$	2,446		$	27,326	$	14,645	$	14,656	$	12,092


Year-end data:
Total assets	$	707,794		$	702,095	$	620,854	$	552,257	$	525,867
Notes payable and other borrowings:
Insurance and other		34,975			40,409		42,559		26,550		24,584
Railroad, utilities and energy		62,515			62,178		59,085		57,739		55,306

Berkshire Hathaway shareholders’ equity		348,703			348,296		282,070		254,619		239,239
Class A equivalent common shares outstanding, in thousands		1,641			1,645		1,644		1,643		1,643
Berkshire Hathaway shareholders’ equity per outstanding Class A equivalent common share	$	212,503		$	211,750	$	171,542	$	154,935	$	145,619

	(1)	Includes after-tax investment and derivative gains/losses of $(17.7) billion in 2018, $1.4 billion in 2017, $6.5 billion in 2016, $6.7 billion in 2015 and $3.3 billion in 2014. Beginning in 2018, investment gains/losses include the changes in fair values of equity securities during the period. Previously, investment gains/losses of equity securities were recognized in earnings when securities were sold or were other-than-temporarily impaired. Net earnings in 2017 includes a one-time net benefit of $29.1 billion attributable to the enactment of the Tax Cuts and Jobs Act of 2017.

	(2)	Represents net earnings per average equivalent Class A share outstanding. Net earnings per average equivalent Class B common share outstanding is equal to 1/1,500 of such amount.

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