1、BERKSHIREHATHAWAYINC.2022ANNUAL REPORTBERKSHIRE HATHAWAY INC.2022 ANNUAL REPORTTABLE OF CONTENTSBerkshires Performance vs.the S&P 500.2Chairmans Letter*.3-11Form 10-K Business Description.K-1Risk Factors.K-25Description of Properties.K-28Managements Discussion.K-33Managements Report on Internal Cont

2、rols.K-66Independent Auditors Report.K-67Consolidated Financial Statements.K-70Notes to Consolidated Financial Statements.K-75Appendices Shareholder Event and Meeting Information.A-1Property/Casualty Insurance.A-2Operating Companies.A-3Stock Transfer Agent.A-4Directors and Officers of the Company.In

3、side Back Cover*Copyright2023 By Warren E.BuffettAll Rights Reserved1Berkshires Performance vs.the S&P 500Annual Percentage ChangeYearin Per-ShareMarket Value ofBerkshirein S&P 500with DividendsIncluded1965.49.510.01966.(3.4)(11.7)1967.13.330.91968.77.811.01969.19.4(8.4)1970.(4.6)3.91971.80.514.6197

4、2.8.118.91973.(2.5)(14.8)1974.(48.7)(26.4)1975.2.537.21976.129.323.61977.46.8(7.4)1978.14.56.41979.102.518.21980.32.832.31981.31.8(5.0)1982.38.421.41983.69.022.41984.(2.7)6.11985.93.731.61986.14.218.61987.4.65.11988.59.316.61989.84.631.71990.(23.1)(3.1)1991.35.630.51992.29.87.61993.38.910.11994.25.0

5、1.31995.57.437.61996.6.223.01997.34.933.41998.52.228.61999.(19.9)21.02000.26.6(9.1)2001.6.5(11.9)2002.(3.8)(22.1)2003.15.828.72004.4.310.92005.0.84.92006.24.115.82007.28.75.52008.(31.8)(37.0)2009.2.726.52010.21.415.12011.(4.7)2.12012.16.816.02013.32.732.42014.27.013.72015.(12.5)1.42016.23.412.02017.

6、21.921.82018.2.8(4.4)2019.11.031.52020.2.418.42021.29.628.72022.4.0(18.1)Compounded Annual Gain 1965-2022.19.8%9.9%Overall Gain 1964-2022.3,787,464%24,708%Note:Data are for calendar years with these exceptions:1965 and 1966,year ended 9/30;1967,15 months ended 12/31.2BERKSHIRE HATHAWAY INC.To the Sh