In 2024, Berkshire Hathaway's performance exceeded expectations, with operating earnings reaching $47.4 billion. Despite 53% of their 189 operating companies reporting a decline in earnings, the company benefited from increased predictable investment income due to higher Treasury yields and a significant growth in their insurance business, particularly with GEICO, which saw improved efficiency and updated underwriting standards[1].
The overall earnings from Berkshire's railroad and utility businesses improved as well, and property and casualty pricing strengthened in response to increased losses from convective storms. Berkshire paid a record $26.8 billion in corporate income taxes, which accounted for about 5% of all corporate taxes paid in the U.S.[1].
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