On the evening of May 2, Beijing time, on the eve of the annual Berkshire Hathaway shareholder meeting, the company announced its 2020 quarterly report: During the period, the net loss attributable to shareholders was $ 497.46 billion In the same period last year, the profit was 21,661 million US dollars.
The financial report shows that in the first quarter of 2020, Berkshire Hathaway ’s Class A shares suffered a net loss of $ 30,653 per share, compared with a gain of $ 13,209 during the same period last year The net loss per share of the class stocks was US $ 20.44, compared with a gain of US $ 8.81 in the same period last year.
Among the company ’s net losses attributable to shareholders during the period, investment losses amounted to USD 54.517 billion, derivatives losses amounted to USD 1.1 billion, and operating profits earned USD 5.871 billion. Among the operating profit and profit, insurance underwriting profit was 363 million US dollars, insurance investment income was 1.386 billion US dollars, railway, utilities and energy profit was 1.75 billion US dollars, other business profit was 2.038 billion US dollars, and other items were 333 million US dollars.
In addition, as of the end of March, the floating deposit was US $ 130 billion, an increase of approximately US $ 1 billion from the end of 2019.
The quarterly report also shows that as of the first quarter of 2020, Burhill Hathaway ’s securities investment was 69% concentrated in five companies, including $ 63.8 billion in Apple stock , US $ 20.2 billion in Bank of America stocks, 17.7 billion in Coca-Cola shares, 13 billion in American Express shares, and US $ 9.9 billion in Wells Fargo Bank shares
in In a quarterly report, Burhill Hathaway also pointed out that the new coronavirus spread rapidly around the world in the first quarter of 2020 and was declared a pandemic by the World Health Organization. The government and the private sector have In response, it began to have a significant impact on our business operations in March and may have an adverse impact on almost all of its business in the second quarter, although these impacts may vary widely.
The quarterly report also shows that as of the first quarter of 2020, Burhill Hathaway ’s securities investment was 69% concentrated in five companies, including $ 63.8 billion in Apple stock , US $ 20.2 billion in Bank of America stocks, 17.7 billion in Coca-Cola shares, 13 billion in American Express shares, and US $ 9.9 billion in Wells Fargo Bank shares
in In a quarterly report, Burhill Hathaway also pointed out that the new coronavirus spread rapidly around the world in the first quarter of 2020 and was declared a pandemic by the World Health Organization. The government and the private sector have In response, it began to have a significant impact on our business operations in March and may have an adverse impact on almost all of its business in the second quarter, although these impacts may vary widely.
The company further stated that it is currently not possible to reasonably estimate the duration and extent of longer-term effects. The risks and uncertainties caused by the pandemic may affect our future income, cash flow and financial situation, including our various The nature and duration of the reduction or closure of facilities, as well as the long-term impact on the demand for our products and services. Therefore, the significant estimates used in the preparation of our financial statements include and evaluation of certain long-term assets, goodwill and other intangibles assets Significant estimates related to impairment, expected credit losses for the amounts we owe, and estimates of certain losses assumed under insurance and reinsurance contracts may be subject to significant adjustments in the future.
Bearhill Hathaway introduced in a quarterly report that in response to the impact of the influenza pandemic, the company implemented various business continuity plans to protect employees and customers. These plans These include various actions, such as temporarily closing certain retail stores, production facilities, and service centers, which are not covered by the government ’s mandatory closure. In addition, many companies under the company have implemented measures to protect employees ’work safety. These practices This includes working from home, staggering or shortening working hours, increasing workplace cleanliness and hygiene, providing employee health screening, canceling unnecessary travel and face-to-face meetings, and providing general health reminders to help reduce the risk of spreading the new coronavirus.
“We have also taken action in response to consumers’ Demand for supplied products and services has declined, and the economic losses caused by our inability to produce products and provide services in certain business areas. These measures include employee leave, pay cuts, capital expenditure cuts, and other measures designed to help mitigate economic losses, protect capital, and liquidity. “Bearhill Hathaway said in a quarterly report,” Although we consider these necessary actions to be temporary, we cannot reliably predict when our many different business activities will normalize. ” We also cannot predict how these events will change the consumers we serveAnd the company ’s future consumption patterns. ”
In addition, the quarterly report also disclosed that Berkshire Hathaway ’s insurance and other businesses held 124.7 billion US dollar cash, cash equivalents, and US Treasury bills (net of purchases that have been deducted but not yet settled), including US $ 1055.5 billion US Treasury bills. Investments in stocks and fixed-term securities (excluding Kraft Heinz investments) It was 19.87 billion US dollars. In addition, in April, the company obtained about 6.1 billion US dollars from the sale of equity securities. After deducting the cost of purchasing equity securities, the proceeds of these activities were mainly reinvested in U.S. Treasury bonds.