Berkshire Hathaway Inc. (BRK-B) Events

Filings that contain financial statements

The following Form 8-Ks furnish Berkshire's quarterly/annual results tables (net earnings, investment gains/losses, and operating earnings by segment) via an Exhibit 99.1 press release. These are useful cross-checks for the interim figures discussed below, alongside the full 10-Q/10-K statements:

• Accession 0001193125-24-250195 (filed 2024-11-04), Q3 and first nine months 2024
• Accession 0001193125-25-033393 (filed 2025-02-24), Q4 and full-year 2024
• Accession 0001193125-25-113900 (filed 2025-05-06), Q1 2025
• Accession 0001193125-25-172579 (filed 2025-08-04), Q2 and first six months 2025
• Accession 0001193125-25-262260 (filed 2025-11-03), Q3 and first nine months 2025
• Accession 0001193125-26-085801 (filed 2026-03-02), Q4 and full-year 2025
• Accession 0001193125-26-212148 (filed 2026-05-07), Q1 2026

Leadership transition: Buffett to Abel

• 2025-05-03/05-04: Warren Buffett announced he would recommend to the Board that Greg Abel, then Vice Chairman – Non-Insurance Operations, be appointed CEO effective January 1, 2026. The Board voted unanimously the next day to appoint Abel as President and CEO effective that date; Buffett was to remain Chairman. Abel, 62, had run Berkshire Hathaway Energy from 2008–2018 and had been a Berkshire director and Vice Chairman since 2018. (Accession 0001193125-25-115695, filed 2025-05-08)
• 2025-09-30: The Board voted to amend and restate Berkshire's by-laws, adding a new provision separating the roles of Chairman and CEO, ahead of the leadership change. (Accession 0001193125-25-229405, filed 2025-10-03)
• 2026-01-01 (reported 2026-01-06): Greg Abel became Berkshire's President and CEO as previously announced; his annual cash salary was set at $25 million. Buffett remains Chairman. (Accession 0001193125-26-004727, an 8-K/A amending the original May 2025 disclosure)
• 2026-03-04: Berkshire disclosed it had begun repurchasing shares of Class A and Class B common stock under its long-standing buyback policy (which permits repurchases whenever management believes the price is below conservatively determined intrinsic value), explicitly framing the disclosure as being made "in the interest of transparency with our leadership transition." The policy does not commit Berkshire to any specific repurchase amount and may be suspended at any time. (Accession 0001193125-26-092557)
• 2026-05-02: At Berkshire's annual meeting, all 13 director nominees, including Abel, Warren Buffett, Howard G. Buffett, Susan A. Buffett, and other incumbent directors, were re-elected/elected. Shareholders also voted (non-binding) on executive compensation and its voting frequency, and rejected a shareholder proposal requesting a report on the Board's workforce/human-capital oversight framework. Separately, the Board amended and restated the by-laws again, this time to update officer roles and responsibilities to conform to Berkshire's post-transition operating structure (changes to the sections on Officers and Agents, Capital Stock, and Execution of Papers). (Accession 0001193125-26-212148)

CFO succession

• 2025-12-08: Berkshire announced that Marc D. Hamburg, longtime Senior VP and CFO, will resign as CFO on June 1, 2026 and fully retire on June 1, 2027, working with his successor in the interim to ensure a smooth transition. Charles C. Chang, 57, SVP and CFO of Berkshire Hathaway Energy since October 2024 and previously a PricewaterhouseCoopers partner since 2002, was named to succeed Hamburg as CFO effective June 1, 2026. Compensation terms for Chang were not yet finalized at the time of this announcement. (Accession 0001193125-25-314935)
• 2026-05-02 (reported 2026-05-07): Chang's compensation as incoming CFO was finalized: an annual cash salary of $8,000,000 effective June 1, 2026. In recognition of his decades of service, Berkshire will also provide Hamburg (or his surviving spouse) with up to 30 flight hours per year on a mid-sized NetJets aircraft from June 1, 2026 through no later than May 31, 2037, plus tax gross-up payments on the imputed value of that benefit, an estimated additional cost to Berkshire of approximately $490,000 per year. (Accession 0001193125-26-212148)

Debt issuance, yen-denominated senior notes

Berkshire has continued its periodic euroyen note programs under its existing shelf registration (Form S-3, Registration No. 333-284622, filed January 31, 2025) and indenture with Berkshire Hathaway Finance Corporation and The Bank of New York Mellon Trust Company, N.A.:

• 2025-04-17: Issued six tranches totaling ¥90.0 billion, 1.352% notes due 2028 (¥48.6bn), 1.593% due 2030 (¥19.5bn), 1.797% due 2032 (¥3.5bn), 2.090% due 2035 (¥9.1bn), 2.492% due 2040 (¥6.0bn), and 3.117% due 2055 (¥3.3bn), underwritten by Merrill Lynch International and Mizuho Securities USA LLC. (Accession 0001193125-25-084458)
• 2025-11-20: Issued four tranches totaling ¥210.1 billion, 1.510% notes due 2028 (¥123.7bn), 1.826% due 2030 (¥53.3bn), 2.422% due 2035 (¥26.1bn), and 2.810% due 2040 (¥7.0bn), underwritten by Mizuho Securities USA LLC and Merrill Lynch International. (Accession 0001193125-25-290864)
• 2026-04-16: Issued six tranches totaling ¥272.3 billion (approximately $1.7 billion), 2.077% notes due 2029 (¥128.9bn), 2.465% due 2031 (¥86.8bn), 2.739% due 2033 (¥22.3bn), 3.084% due 2036 (¥27.3bn), 3.452% due 2041 (¥2.0bn), and 4.037% due 2056 (¥5.0bn), underwritten by Mizuho Securities USA LLC and Merrill Lynch International, with maturities spanning 2029–2056 and a weighted average interest rate of 2.4%. (Accession 0001193125-26-159326; currency on the two smallest tranches per Exhibit 5.1 to that accession; deal total, weighted average rate, and maturity range per Note 16 of accession 0001193125-26-202243, the Q1 2026 Form 10-Q.) The same note discloses that Berkshire repaid approximately ¥133.9 billion (approximately $844 million) of maturing senior notes in April 2026.

None of these issuances have been reported as repaid or redeemed in the filings reviewed; Berkshire's outstanding NYSE-listed senior notes (BRK27, BRK28, BRK30, BRK34, BRK35, BRK39, BRK41, BRK59) continue to appear on each subsequent 8-K cover page.

Quarterly and annual earnings

Dollar amounts in millions except per-share figures; "net earnings" is after-tax and attributable to Berkshire shareholders. Berkshire's own press releases caution that GAAP requires unrealized equity-investment gains/losses to run through earnings, making net earnings volatile and not by itself indicative of operating performance; operating earnings exclude those investment gains/losses.

• Q3 2024 (accession 0001193125-24-250195): Net earnings $26,251, vs. a $12,767 loss in Q3 2023, driven by a swing to $16,161 of investment gains. Operating earnings were $10,090, down from $10,761. First nine months net earnings were $69,301 vs. $58,649.
• Q4/FY2024 (accession 0001193125-25-033393): Q4 net earnings $19,694 vs. $37,574 in Q4 2023. Full-year 2024 net earnings were $88,995 vs. $96,223 in 2023; full-year operating earnings rose to $47,437 from $37,350, while full-year investment gains fell to $41,558 from $58,873.
• Q1 2025 (accession 0001193125-25-113900): Net earnings fell sharply to $4,603 from $12,702 in Q1 2024, on $5,038 of investment losses (vs. $1,480 of gains a year earlier) tied to unrealized equity-holdings declines. Operating earnings were $9,641 vs. $11,222.
• Q2 2025 / first six months 2025 (accession 0001193125-25-172579): Q2 net earnings were $12,370 vs. $30,348 in Q2 2024. This quarter's results included Berkshire's first disclosed other-than-temporary impairment (OTTI) of its Kraft Heinz investment, $3,760 (after tax), which also depressed first-half net earnings to $16,973 from $43,050. Operating earnings were $11,160 for the quarter and $20,801 for the half.
• Q3 2025 / first nine months 2025 (accession 0001193125-25-262260): Q3 net earnings were $30,796 vs. $26,251 in Q3 2024, helped by $17,311 of investment gains; no additional Kraft Heinz impairment was recorded in the quarter (the $3,760 impairment remained a first-nine-months, not incremental Q3, item). Operating earnings were $13,485 for the quarter and $34,286 for the first nine months, both ahead of the prior year.
• Q4/FY2025 (accession 0001193125-26-085801): Q4 net earnings were $19,199 vs. $19,694 in Q4 2024. The release disclosed a $4,495 Q4 OTTI charge covering both the Kraft Heinz and Occidental Petroleum investments, bringing the full-year 2025 OTTI total to $8,255. Full-year 2025 net earnings were $66,968, down about 25% from $88,995 in 2024; full-year operating earnings were $44,486, down from $47,437 in 2024, a roughly 6% decline.
• Q1 2026 (accession 0001193125-26-212148): Net earnings were $10,106 vs. $4,603 in Q1 2025, on a smaller investment loss of $1,240 (vs. $5,038 a year earlier). Operating earnings improved to $11,346 from $9,641, with insurance-underwriting income of $1,717 vs. $1,336 in the prior-year quarter.

Taken together, the filings show full-year 2025 operating and net earnings both declined from 2024, with the Kraft Heinz and, later, Occidental Petroleum other-than-temporary impairments as a specific, disclosed drag in the second half of 2025; Q1 2026 showed a rebound in both net and operating earnings versus the year-earlier quarter.

Other items

• Berkshire filed no 8-K covering merger and acquisition activity in this window. Two transactions were instead disclosed in the periodic reports: the January 2, 2026 completion of the acquisition of Occidental Petroleum's chemicals business (OxyChem) for approximately $9.5 billion, subject to adjustment (accession 0001193125-26-202243, Note 2); and the February 15, 2026 agreement to sell PacifiCorp's Washington operations to Portland General Electric and an affiliate for a base price of $1.9 billion in cash, subject to regulatory approvals and expected to close in the first half of 2027 (accession 0001193125-26-202243, Note 22). No going-concern or covenant-related disclosures appear in any of the reviewed 8-K filings.