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April 29, 1999

Berkshire Hathaway

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Berkshire Hathaway: The Makings of an Investment Company

Operating Segments *

Description of Business

1998 Revenues
(millions)

Pre-Tax
Operating
Profit
(millions)

GEICO Corp.

Car insurance

$4,033

$269

Berkshire Hathaway Reinsurance Group

Reinsurance for property and casualty insurers and reinsurers

$939

$(21)

Berkshire Hathaway Direct Insurance Group

Commercial property and casualty insurance

$328

$17

Buffalo News

Daily newspaper in western New York

$157

$53

FlightSafety and Executive Jet

Flight training and aircraft fractional ownership programs

$858

$181

Nebraska Furniture Mart, R.C. Willey Home Furnishings and Star Furniture Co.

Retail sales of home furnishings, appliances and electronics

$793

$72

International Dairy Queen

Licensing and servicing 5,900 stores

$420

$58

Borsheim's and Helzberg's Diamond Shops

Retailing of fine jewelry

$440

$39

Scott Fetzer Cos.

Diversified manufacturing of consumer and commercial products

$1,002

$137

See's Candies

Making and distribution of boxed chocolates

$288

$62

H.H. Brown Shoe Co., Lowell Shoe Inc. and Dexter Shoe Co.

Manufacture of shoes

$500

$33

Other

Reconciliation of segment amounts

$4,074

$3,414

TOTAL

 

$13,832

$4,314

* Segments don't include the reinsurance business of General Re Corp., which Berkshire acquired on December 21, 1998.

 

Significant Investments

Percentage of Interest

American Express Co.

11%

Coca-Cola Co.

8%

Federal Home Loan Mortgage Corp. (Freddie Mac)

9%

Gillette Co.

8.5%

The Washington Post Co.

17%

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