Obligation Berkshire Hathaway Inc 4.2% ( US084664CQ25 ) en USD

Berkshire Hathaway Inc

76.487 % ▼

Etats-unis

US084664CQ25 ( en USD )

4.2% par an ( paiement semestriel )

14/08/2048

Prospectus brochure de l'obligation Berkshire Hathaway Inc US084664CQ25 en USD 4.2%, échéance 14/08/2048

100 000 USD

2 350 000 000 USD

084664CQ2

AA ( Haute qualité )

Aa2 ( Haute qualité )

15/08/2024 ( Dans 91 jours )

L'Obligation émise par Berkshire Hathaway Inc ( Etats-unis ) , en USD, avec le code ISIN US084664CQ25, paye un coupon de 4.2% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 14/08/2048

L'Obligation émise par Berkshire Hathaway Inc ( Etats-unis ) , en USD, avec le code ISIN US084664CQ25, a été notée Aa2 ( Haute qualité ) par l'agence de notation Moody's.

L'Obligation émise par Berkshire Hathaway Inc ( Etats-unis ) , en USD, avec le code ISIN US084664CQ25, a été notée AA ( Haute qualité ) par l'agence de notation Standard & Poor's ( S&P ).

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Filed Pursuant to Rule 424(b)(2)
Registration Statement No. 333-209122
Registration Statement No. 333-209122-01
Calculation of Registration Fee

Amount to be
Amount of
Title of each class of securities to be registered

registered

registration fee (1)
4.200% Senior Notes due 2048
$2,350,000,000
$292,575
Guarantee of Berkshire Hathaway Inc. of 4.200% Senior Notes due 2048 (2)

N/A

--
TOTAL
$2,350,000,000
$292,575

(1) Calculated in accordance with Rule 457(r) of the Securities Act of 1933, as amended.
(2) Pursuant to Rule 457(n), no separate fee for the guarantee is payable.
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Prospectus Supplement to Prospectus dated January 26, 2016
$2,350,000,000
Berkshire Hathaway Finance Corporation
4.200% Senior Notes due 2048
Unconditionally and irrevocably guaranteed by
Berkshire Hathaway Inc.

We are offering $2,350,000,000 of our 4.200% Senior Notes due 2048 (the "notes").
Interest on the notes will accrue from the date of original issuance, expected to be August 15, 2018 and will be payable semi-annually in arrears
on February 15 and August 15 of each year, commencing on February 15, 2019.
The notes will mature on August 15, 2048. All of Berkshire Hathaway Finance Corporation's obligations under the notes will be unconditionally
and irrevocably guaranteed by Berkshire Hathaway Inc.
We may redeem the notes, in whole or in part, at any time at the redemption prices as described under "Description of the Notes and Guarantees--
Optional Redemption."
The notes will be senior unsecured indebtedness of Berkshire Hathaway Finance Corporation and will rank equally with all of its other existing
and future senior unsecured indebtedness. The guarantees will be senior unsecured obligations of Berkshire Hathaway Inc. and will rank equally with all
of its other existing and future senior unsecured obligations.
The notes will not be listed on any securities exchange. Currently, there is no public market for the notes.

The risks involved in investing in our debt securities are described in the "Risk Factors" section on page S-5 of this prospectus
supplement.

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of the notes or passed
upon the adequacy or accuracy of this prospectus. Any representation to the contrary is a criminal offense.

Per Note
Total

Initial public offering price (1)
99.493% $ 2,338,085,500
Underwriting discount
0.750% $
17,625,000
Proceeds, before expenses, to Berkshire Hathaway Finance Corporation
98.743% $ 2,320,460,500
(1) Plus accrued interest from August 15, 2018 until the date of delivery.

The underwriters expect to deliver the notes to purchasers through the book-entry delivery system of The Depository Trust Company and its
participants, including Euroclear Bank S.A./N.V. and Clearstream Banking, société anonyme, on or about August 15, 2018.

Joint Book-Running Managers
BofA Merrill Lynch

Goldman Sachs & Co. LLC

Wells Fargo Securities

Prospectus Supplement dated August 7, 2018
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TABLE OF CONTENTS
Prospectus Supplement

Page
Forward-Looking Information
S-i
About This Prospectus Supplement
S-i
Incorporation by Reference
S-ii
Summary
S-1
Risk Factors
S-5
Use of Proceeds
S-6
Description of the Notes and Guarantees
S-7
Certain United States Federal Income Tax Considerations
S-13
Underwriting
S-18
Legal Matters
S-22
Experts
S-22
Prospectus

Page
Forward-Looking Information
ii
About This Prospectus
1
Where You Can Find More Information
1
Incorporation by Reference
2
Risk Factors
5
Use Of Proceeds
6
Description of the Debt Securities
7
Plan of Distribution
12
Legal Matters
13
Experts
13

You should read this prospectus supplement, the accompanying prospectus, and any related free writing prospectus we file with the Securities and
Exchange Commission (the "SEC") carefully before you invest in the notes. This document contains or incorporates by reference important information
you should consider before making your investment decision. You should rely only on the information contained or incorporated by reference in this
prospectus supplement, the accompanying prospectus, and any such free writing prospectus. None of Berkshire Hathaway Finance Corporation
("BHFC"), Berkshire Hathaway Inc. ("Berkshire"), and the underwriters has authorized anyone else to provide you with any different or additional
information. You should not assume that the information contained in this prospectus supplement, the accompanying prospectus (as updated by this
prospectus supplement), or any such free writing prospectus is accurate as of any date other than its respective date or the date that is specified in those
documents, or that the information Berkshire previously filed with the SEC and incorporated by reference in this prospectus supplement or the
accompanying prospectus is accurate as of any date other than the date of the document incorporated by reference or the date that is specified in such
document. The business, financial condition, results of operations and prospects of Berkshire and BHFC may have changed since those dates.
We are not, and the underwriters are not, making an offer of the notes in any jurisdiction where the offer or sale is not permitted. The distribution
of this prospectus supplement and the accompanying prospectus and the offering or sale of the notes in some jurisdictions may be restricted by law. The
notes are offered globally for sale in those jurisdictions in the United States, Europe, Asia and elsewhere where it is lawful to make such offers. Persons
into whose possession this prospectus supplement and the accompanying prospectus come are required by us and the underwriters to inform themselves
about, and to observe, any applicable restrictions. This prospectus supplement and the accompanying prospectus may not be used for or in connection
with an offer or solicitation by any person in any jurisdiction in which that offer or solicitation is not authorized or to any person to whom it is unlawful
to make that offer or solicitation. See "Underwriting--Offering Restrictions" in this prospectus supplement.
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FORWARD-LOOKING INFORMATION
Certain statements contained, or incorporated by reference, in this prospectus supplement are "forward- looking" statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Forward- looking statements include statements that are predictive in nature, that depend upon or
refer to future events or conditions, that include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," or similar
expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business
strategies or prospects, and possible future actions by BHFC or Berkshire, which may be provided by management are also forward-looking statements
as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on our current expectations and projections
about future events and are subject to risks, uncertainties and assumptions about BHFC and Berkshire, economic and market factors and the industries in
which they do business, among other things, that may cause actual events and results to differ materially from the forward-looking statements.
Actual events and results may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors. The
principal risk factors that could cause Berkshire's actual performance and future events and actions to differ materially from such forward-looking
statements include, but are not limited to, continuing volatility in the capital or credit markets and other changes in the securities and capital markets,
changes in market prices of Berkshire's investments in fixed maturity and equity securities, losses realized from derivative contracts, the occurrence of
one or more catastrophic events, such as an earthquake, hurricane, or act of terrorism that causes losses insured by Berkshire's insurance subsidiaries,
changes in laws or regulations affecting Berkshire's insurance, railroad, utilities and energy and finance subsidiaries, changes in tax laws (possibly with
retroactive effect), and changes in general economic and market factors that affect the prices of securities or the industries in which Berkshire and its
affiliates do business. You are advised to consult any additional disclosures Berkshire makes in its Annual Report on Form 10-K, Quarterly Reports on
Form 10-Q, and Current Reports on Form 8-K filed with the SEC.
Forward-looking statements are not guarantees of future performance. Neither BHFC nor Berkshire undertakes any obligation to update or revise
any forward-looking statements to reflect events or developments after the date of this prospectus supplement, except as required by law.
ABOUT THIS PROSPECTUS SUPPLEMENT
This document is in two parts. The first part is this prospectus supplement, which describes the terms of the offering of the notes and also adds to
and updates information contained in the accompanying prospectus and the documents incorporated by reference into this prospectus supplement and
the accompanying prospectus. The second part is the accompanying prospectus, which provides more general information. To the extent there is a
conflict between the information contained in this prospectus supplement, on the one hand, and the information contained in the accompanying
prospectus or any document incorporated herein and therein by reference, on the other hand, you should rely on the information contained in this
prospectus supplement.
In this prospectus supplement, unless otherwise specified or the context otherwise implies, references to "dollars" and "$" are to U.S. dollars.
Unless we indicate otherwise or unless the context requires otherwise, all references in this prospectus supplement to "we," "us," "our," or similar
references are references to either Berkshire or BHFC or both. However, in the "Description of the Notes and Guarantees" and related summary sections
of this prospectus supplement, references to "we," "us," "our," or similar references are to BHFC only.
This prospectus supplement is based on information provided by us and by other sources that we believe are reliable. We cannot assure you that
this information is accurate or complete. This prospectus supplement summarizes certain documents and other information and we refer you to them for
a more complete understanding of what we discuss in this prospectus supplement.

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INCORPORATION BY REFERENCE
In this document BHFC and Berkshire "incorporate by reference" the information that Berkshire files with the SEC, which means that we can
disclose important information to you by referring you to another document. The information incorporated by reference is considered to be a part of this
prospectus from the date Berkshire files that document, and later information filed with the SEC will automatically update and supersede this
information.
BHFC and Berkshire incorporate by reference the documents listed below and any future filings made by either of them with the SEC under
Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act prior to the termination of any offering of securities made by this prospectus (in each case,
excluding any information furnished to, rather than filed with, the SEC, including, but not limited to, information furnished under Items 2.02 or 7.01 of
Form 8-K and any corresponding information furnished with respect to such Items under Item 9.01 or as an exhibit):

· Berkshire's Annual Report on Form 10-K for the year ended December 31, 2017;

· Berkshire's Quarterly Reports on Form 10-Q for the quarters ended March 31, 2018 and June 30, 2018;

· Berkshire's Current Reports on Form 8-K or 8-K/A filed with the SEC on January 10, 2018, January 12, 2018, May 8, 2018, and July 19,
2018; and

· those portions of Berkshire's proxy statement for its 2018 annual meeting of shareholders incorporated by reference into its Form 10-K for
the year ended December 31, 2017.
We will provide to each person, including any beneficial owner, to whom a copy of this prospectus is delivered, upon written or oral request and at
no cost to such person, a copy of any or all of the information that has been incorporated by reference in this prospectus but not delivered with this
prospectus. You may request a copy of such information by writing or telephoning Berkshire at:
Berkshire Hathaway Inc.
3555 Farnam Street
Omaha, Nebraska 68131
Attn: Corporate Secretary
Tel: (402) 346-1400

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SUMMARY
The following summary is qualified in its entirety by the more detailed information included elsewhere in or incorporated by reference into
this prospectus supplement or the accompanying prospectus. Because this is a summary, it does not contain all the information that may be
important to you. You should carefully read the entire prospectus supplement and the accompanying prospectus, together with documents
incorporated by reference, in their entirety before making an investment decision.
Berkshire Hathaway Inc.
Berkshire, a Delaware corporation, is a holding company owning subsidiaries that engage in a number of diverse business activities including
insurance and reinsurance, freight rail transportation, utilities and energy, finance, manufacturing, services and retailing. Included in the group of
subsidiaries that underwrite insurance and reinsurance is GEICO, the second largest private passenger auto insurer in the United States and two of
the largest reinsurers in the world, General Re and the Berkshire Hathaway Reinsurance Group. Other subsidiaries that underwrite insurance
include National Indemnity Company, Columbia Insurance Company, National Fire & Marine Insurance Company, National Liability and Fire
Insurance Company, Berkshire Hathaway Homestate Insurance Company, Cypress Insurance Company, Berkshire Hathaway Specialty Insurance
Company, Medical Protective Company, the Berkshire Hathaway GUARD Insurance Companies, Applied Underwriters, U.S. Liability Insurance
Company, Central States Indemnity Company, and Berkshire Hathaway Life Insurance Company of Nebraska. Berkshire's finance and financial
products businesses primarily engage in proprietary investing strategies (BH Finance), consumer lending (Clayton Homes, Inc.) and transportation
equipment and furniture leasing (UTLX, XTRA and CORT).
Burlington Northern Santa Fe, LLC ("BNSF") is a holding company that, through its subsidiaries, is engaged primarily in the freight rail
transportation business. BNSF's rail operations make up one of the largest railroad systems in North America. Berkshire Hathaway Energy
Company ("BHE") is an international energy holding company owning a wide variety of operating companies engaged in the generation,
transmission and distribution of energy. Among BHE's operating energy businesses are Northern Powergrid; MidAmerican Energy Company;
PacifiCorp; NV Energy; BHE Pipeline Group; BHE Renewables; and AltaLink. In addition, BHE owns HomeServices of America, a real estate
brokerage firm. McLane Company is a wholesale distributor of groceries and nonfood items to discount retailers, convenience stores, restaurants
and others. The Marmon Group is an international association of approximately 175 manufacturing and service businesses, including UTLX, that
operate independently within diverse business sectors. The Lubrizol Corporation is a specialty chemical company that produces and supplies
chemical products for transportation, industrial and consumer markets. IMC International Metalworking Companies is an industry leader in the
metal cutting tools business. Precision Castparts Corp. ("PCC") is a worldwide diversified manufacturer of complex metal components and
products serving the aerospace, power and general industrial markets.
Numerous business activities are conducted through Berkshire's other manufacturing, services and retailing subsidiaries. Shaw Industries is
the world's largest manufacturer of tufted broadloom carpet. Benjamin Moore is a formulator, manufacturer and retailer of architectural 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 produces steel connector products and engineering software for the building components market. Fruit
of the Loom, Russell Athletic, Vanity Fair, Garan, Fechheimer, H.H. Brown Shoe Group, and Brooks manufacture, license and distribute apparel
and footwear under a variety of brand names. FlightSafety International provides training to aircraft operators. NetJets provides fractional
ownership programs for general aviation aircraft. Nebraska Furniture Mart, R.C. Willey Home Furnishings, Star Furniture and Jordan's Furniture
are retailers of home furnishings. Borsheims, Helzberg Diamond Shops and Ben Bridge Jeweler are retailers of fine jewelry.

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In addition, other manufacturing, service and retail businesses include: Buffalo News and the BH Media Group, publishers of daily and
Sunday newspapers; See's Candies, a manufacturer and seller of boxed chocolates and other confectionery products; Scott Fetzer, a diversified
manufacturer and distributor of commercial and industrial products; Larson-Juhl, a designer, manufacturer and distributor of picture framing
products; CTB International, a manufacturer of equipment for the livestock and agricultural industries; International Dairy Queen, a licensor and
service provider to over 6,800 stores that offer prepared dairy treats and food; Pampered Chef, a direct seller of kitchen tools in the United States;
Forest River, a manufacturer of leisure vehicles in the United States; Business Wire, a global distributor of corporate news, multimedia and
regulatory filings; TTI, Inc., a distributor of electronic components; Richline Group, a jewelry manufacturer; Oriental Trading Company, a direct
retailer of party supplies and novelties; Charter Brokerage, a global trade services company; Berkshire Hathaway Automotive, which includes 83
automobile dealerships located in 10 states; Detlev Louis Motorrad, a retailer of motorcycle accessories based in Germany; and Duracell, a leading
manufacturer of high-performance alkaline batteries.
Operating decisions for the various Berkshire businesses are made by managers of the business units. Investment decisions and all other
capital allocation decisions are made for Berkshire and its subsidiaries by the Berkshire senior management team which is led by Warren E. Buffett,
in consultation with Charles T. Munger. Mr. Buffett is Chairman and Mr. Munger is a Vice Chairman of Berkshire's Board of Directors. The
Berkshire businesses collectively employ approximately 377,000 people.
Berkshire's executive offices are located at 3555 Farnam Street, Omaha, Nebraska 68131, and its telephone number is (402) 346-1400.
Berkshire Hathaway Finance Corporation
BHFC is a Delaware corporation that was created by Berkshire on August 4, 2003. Assets of BHFC consist of term loans to Vanderbilt
Mortgage and Finance, Inc. ("Vanderbilt") and 21st Mortgage Corporation ("21st Mortgage"), indirect wholly owned subsidiaries of Clayton
Homes, Inc. and indirect wholly owned subsidiaries of Berkshire. BHFC also provides financing to the tank car and crane leasing business of
Berkshire's indirect wholly owned subsidiary, UTLX Company. BHFC currently charges Vanderbilt, 21st Mortgage and UTLX interest at a rate
which is either 50 or 100 basis points higher than it pays on its related debt obligations.
BHFC's executive offices are located at 3555 Farnam Street, Omaha, Nebraska 68131, and its telephone number is (402) 346-1400.

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The Offering
Issuer
Berkshire Hathaway Finance Corporation, a wholly owned finance subsidiary of Berkshire
Hathaway Inc.
Guarantor
Berkshire Hathaway Inc.
Securities Offered
$2,350,000,000 aggregate principal amount of 4.200% Senior Notes due 2048.
Offering Price
99.493%.
Maturity Date
August 15, 2048.
Interest
The notes will bear interest at a rate per annum equal to 4.200%, payable semi-annually in
arrears on February 15 and August 15 of each year, commencing on February 15, 2019.
Guarantee
All of BHFC's obligations under the notes will be unconditionally and irrevocably
guaranteed by Berkshire.
Ranking
The notes will be unsecured senior obligations of BHFC, will rank pari passu in right of
payment with all of BHFC's unsubordinated, unsecured indebtedness and will be senior in
right of payment to all of its subordinated indebtedness. As of June 30, 2018, BHFC had no
secured indebtedness and $8.8 billion of indebtedness.

The guarantees will be unsecured senior obligations of Berkshire, will rank pari passu with
all of its unsubordinated, unsecured indebtedness and senior to all of its subordinated
indebtedness, and will be effectively subordinated to all of its existing and future secured

indebtedness to the extent of the assets securing such indebtedness and structurally
subordinated to all existing and future indebtedness of its subsidiaries (secured or
unsecured). As of June 30, 2018, Berkshire had no secured indebtedness and $17.8 billion
of indebtedness, and its subsidiaries had $79.0 billion of indebtedness.
Optional Redemption
We will have the option to redeem the notes, in whole or in part, at any time prior to the
Par Call Date at a redemption price equal to the greater of (A) 100% of the principal
amount of such notes to be redeemed or (B) as determined by the quotation agent and as
described herein under "Description of the Notes and Guarantees--Optional Redemption,"
the sum of the present values of the remaining scheduled payments of principal and interest
on such notes to be redeemed that would be due if the notes matured on the Par Call Date,
not including any portion of such payments of interest accrued as of the date on which such
notes are to be redeemed, discounted to the date on which such notes are to be redeemed on
a semi-annual basis assuming a 360-day year consisting of twelve 30-day months, at the
adjusted treasury rate described herein under "Description of the

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Notes and Guarantees--Optional Redemption" plus 20 basis points, plus accrued and
unpaid interest to, but excluding, the date on which the notes are to be redeemed. At any

time on or after the Par Call Date, we may redeem the notes, in whole or in part, at a
redemption price equal to 100% of the principal amount of the notes to be redeemed plus
accrued and unpaid interest to the date of redemption on the principal amount of the notes
being redeemed.
Repayment
The notes will not be repayable at the option of the holder prior to maturity.
Sinking Fund
The notes are not subject to a sinking fund provision.
Form and Denomination
The Depository Trust Company ("DTC") will act as securities depositary for the notes,
which will be issued only as fully registered global securities registered in the name of
DTC or its nominee for credit to an account of a direct or indirect participant in DTC,
except in certain circumstances. One or more fully registered global notes will be issued to
DTC for the notes. The notes will be issued in minimum denominations of $2,000 and
integral multiples of $1,000 in excess thereof.
Further Issues
We may issue additional notes from time to time after this offering without the consent of
holders of notes.
Use of Proceeds
We expect to use the net proceeds of this offering to refinance a portion of our Floating
Rate Senior Notes due 2018 ($600,000,000 aggregate principal amount) that matured and
were repaid on January 12, 2018, our 1.45% Senior Notes due 2018 ($750,000,000
aggregate principal amount) that matured and were repaid on March 7, 2018, our Floating
Rates Senior Notes due 2018 ($1,000,000,000 aggregate principal amount) that matured
and were repaid on March 7, 2018, our 5.4% Senior Notes due 2018 ($1,250,000,000
aggregate principal amount) that matured and were repaid on May 15, 2018, our 1.300%
Senior Notes due 2018 ($500,000,000 aggregate principal amount) that matured and were
repaid on May 15, 2018, and our 2.0% Senior Notes ($500,000,000 aggregate principal
amount) due to mature on August 15, 2018. See "Use of Proceeds" in this prospectus
supplement.
Trustee
The Bank of New York Mellon Trust Company, N.A.
Governing Law
New York
Risk Factors
You should carefully consider the specific factors set forth under "Risk Factors" on page
S-5 of this prospectus supplement as well as the information and data included elsewhere
or incorporated by reference in this prospectus supplement or the accompanying
prospectus, before making an investment decision.

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RISK FACTORS
An investment in our securities involves some degree of risk. Prior to making a decision about investing in our securities, you should carefully
consider the risks described in the section entitled "Risk Factors" in any prospectus supplement and the risks described in Berkshire's most recent
Annual Report on Form 10-K filed with the SEC, in each case as these risk factors are amended or supplemented by subsequent Quarterly Reports on
Form 10-Q. The occurrence of any of these risks could materially adversely affect our business, operating results and financial condition.
The risks and uncertainties we describe are not the only ones facing us. Additional risks and uncertainties not presently known to us or that we
currently deem immaterial may also impair our business or operations. Any adverse effect on our business, financial condition or operating results could
result in a decline in the value of our securities and the loss of all or part of your investment.
There is currently no trading market for the notes and an active trading market for the notes may not develop.
The notes are new issues of securities with no established trading market, and we do not intend to list them on any securities exchange or
automated quotation system. As a result, an active trading market for the notes may not develop, or if one does develop, it may not be sustained. If an
active trading market fails to develop or cannot be sustained, you may not be able to resell your notes at their fair market value or at all.
Deterioration of general economic conditions may significantly reduce our operating earnings and impair our ability to access capital
markets at a reasonable cost.
Our operating businesses are subject to normal economic cycles affecting the economy in general or the industries in which they operate. To the
extent that the economy deteriorates for a prolonged period of time, including as a result of tariffs or trade disputes, one or more of our significant
operations could be materially harmed. In addition, our utilities and energy businesses and our railroad business regularly utilize debt as a component of
their capital structures. These businesses depend on having access to borrowed funds through the capital markets at reasonable rates. To the extent that
access to the capital markets is restricted or the cost of funding increases, these operations could be adversely affected.

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