伯克希尔·哈撒韦Berkshire Hathaway (BRK-A) 2005年年度报告「NYSE」.pdf

1、 BERKSHIRE HATHAWAY INC.2005 ANNUAL REPORT TABLE OF CONTENTS Business Activities.Inside Front Cover Corporate Performance vs.the S&P 500.2 Chairmans Letter*.3 “The Security I Like Best”An Article About GEICO from 1951.24 Acquisition Criteria.25 Report of Independent Registered Public Accounting Firm

2、.25 Consolidated Financial Statements.26 Managements Report on Internal Control Over Financial Reporting.54 Selected Financial Data For The Past Five Years.55 Managements Discussion.56 Owners Manual.74 Common Stock Data and Corporate Governance Matters.79 Operating Companies.80 Directors and Officer

3、s of the Company.Inside Back Cover *Copyright 2006 By Warren E.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 busines

4、s conducted on both a direct and reinsurance basis through a number of subsidiaries.Included in this group of subsidiaries is GEICO,one of the four largest auto insurers in the United States and two of the largest reinsurers in the world,General Re and the Berkshire Hathaway Reinsurance Group.Numero

5、us business activities are conducted through non-insurance subsidiaries.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 arch

6、itectural and industrial coatings.Johns Manville is a leading 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.Fr