伯克希尔·哈撒韦Berkshire Hathaway (BRK-A) 2004年年度报告「NYSE」.pdf

1、 BERKSHIRE HATHAWAY INC.2004 ANNUAL REPORT TABLE OF CONTENTS Business Activities.Inside Front Cover Corporate Performance vs.the S&P 500.2 Chairmans Letter*.3 Selected Financial Data For The Past Five Years.27 Acquisition Criteria.28 Report of Independent Registered Public Accounting Firm.28 Consoli

2、dated Financial Statements.29 Managements Report on Internal Control Over Financial Reporting.56 Managements Discussion.57 Owners Manual.73 Common Stock Data and Corporate Governance Matters.79 Operating Companies.80 Directors and Officers of the Company.Inside Back Cover *Copyright 2005 By Warren E

3、.Buffett All Rights Reserved Business Activities Berkshire Hathaway Inc.is a holding company owning subsidiaries engaged in a number of diverse business activities.The most important of these is the property and casualty insurance business conducted on both a direct and reinsurance basis through a n

4、umber of subsidiaries.Included in this group of subsidiaries is GEICO,one of the five largest auto insurers in the United States,General Re,one of the four largest reinsurers in the world,and the Berkshire Hathaway Reinsurance Group.Numerous business activities are conducted through non-insurance su

5、bsidiaries.Included in the non-insurance subsidiaries are several large manufacturing businesses.Shaw Industries is the worlds largest manufacturer of tufted broadloom carpet.Benjamin Moore is a formulator,manufacturer and retailer of architectural and industrial coatings.Johns Manville is a leading

6、 manufacturer of insulation and building products.Acme Building Brands is a manufacturer of face brick and concrete masonry products.MiTek Inc.produces steel connector products and engineering software for the building components market.Fruit of the Loom,Garan,Fechheimer,H.H.Brown,Lowell,Justin Bran