Obligation Berkshire Hathaway Inc. 1.9% ( US084670BD98 ) en USD

Berkshire Hathaway Inc.

100 % ⇌

Etas-Unis

US084670BD98 ( en USD )

1.9% par an ( paiement semestriel )

29/01/2017 - Obligation échue

Prospectus brochure de l'obligation Berkshire Hathaway US084670BD98 en USD 1.9%, échue

2 000 USD

1 100 000 000 USD

084670BD9

AA ( Haute qualité )

Aa2 ( Haute qualité )

Berkshire Hathaway est une société holding américaine dirigée par Warren Buffett, connue pour ses investissements à long terme dans des entreprises diversifiées et son approche de la valeur.

L'Obligation émise par Berkshire Hathaway Inc. ( Etas-Unis ) , en USD, avec le code ISIN US084670BD98, paye un coupon de 1.9% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 29/01/2017

L'Obligation émise par Berkshire Hathaway Inc. ( Etas-Unis ) , en USD, avec le code ISIN US084670BD98, a été notée Aa2 ( Haute qualité ) par l'agence de notation Moody's.

L'Obligation émise par Berkshire Hathaway Inc. ( Etas-Unis ) , en USD, avec le code ISIN US084670BD98, a été notée AA ( Haute qualité ) par l'agence de notation Standard & Poor's ( S&P ).

Final Prospectus Supplement
http://www.sec.gov/Archives/edgar/data/1067983/000119312512023537...
424B2 1 d261419d424b2.htm FINAL PROSPECTUS SUPPLEMENT
Table of Contents
Calculation of Registration Fee

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

registered
registration fee(1)
1.90% Senior Notes due 2017
$1,100,000,000
$126,060
3.40% Senior Notes due 2022
$600,000,000
$68,760
TOTAL

$194,820.00

(1) Calculated in accordance with Rule 457(r) of the Securities Act of 1933, as amended.
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Filed Pursuant to Rule 424(b)(2)
Registration Statement No. 333-164611

Prospectus Supplement to Prospectus dated February 1, 2010
$1,700,000,000
$1,100,000,000 1.90% Senior Notes due 2017
$600,000,000 3.40% Senior Notes due 2022

We are offering (i) $1,100,000,000 of our 1.90% Senior Notes due 2017 and (i ) $600,000,000 of our 3.40% Senior
Notes due 2022 (together, the "notes").
Interest on the notes wil accrue from the date of original issuance, expected to be January 31, 2012, and wil be
payable on January 31 and July 31 of each year, commencing on July 31, 2012. The 1.90% Senior Notes due 2017 wil
mature on January 31, 2017 and the 3.40% Senior Notes due 2022 wil mature on January 31, 2022.
We wil not have the right to redeem the notes prior to their maturity.
The notes wil be senior unsecured indebtedness of Berkshire Hathaway Inc. and wil rank equal y with all of its
other existing and future senior unsecured indebtedness.
The notes wil 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 1.90%
Per 3.40%
Senior Note
Senior Note

due 2017
due 2022
Total

Initial public offering price(1)

99.995%

99.723%

$1,698,283,000
Underwriting discount

0.325%

0.425%

$
6,125,000
Proceeds, before expenses, to Berkshire Hathaway
Inc.

99.670%

99.298%

$1,692,158,000

(1)Plus accrued interest from January 31, 2012, if delivery of the notes occurs after such date.

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 January 31, 2012.

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Prospectus Supplement dated January 24, 2012
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TABLE OF CONTENTS
Prospectus Supplement

Page
Forward-Looking Information

S-i

About this Prospectus Supplement

S-i

Summary

S-1

Risk Factors

S-5

Use of Proceeds

S-6

Description of the Notes

S-7

Material United States Federal Income and Estate Tax Considerations

S-12
Underwriting

S-16
Legal Matters

S-20
Experts

S-20
Prospectus

Page
Forward-Looking Information

i

About This Prospectus

1

Where You Can Find More Information

1

Incorporation By Reference

2

Risk Factors

4

Ratio of Earnings to Fixed Charges

5

Use of Proceeds

5

Description of the Debt Securities

6

Plan of Distribution

10

Legal Matters

11

Experts

11

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.
We have not, and the underwriters have not, 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 their respective dates, or that the information we 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. Our business, financial
condition, results of operations and prospects may have changed since those dates.
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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 us, 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 current expectations and projections about future events and are subject to risks, uncertainties,
and assumptions about us, economic and market factors and the industries in which they do business, among other
things. These statements are not guarantees of future performance and we have no specific intention to update these
statements.
Actual events and results may differ material y from those expressed or forecasted in forward-looking statements
due to a number of factors. The principal important risk factors that could cause our 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 our 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
our insurance subsidiaries, changes in laws or regulations, changes in federal income tax laws, and changes in general
economic and market factors that affect the prices of securities or the industries in which we and our affiliates do
business.
Unless required by law, we undertake no obligation to publicly update or revise any forward-looking statements to
reflect events or developments after the date of this prospectus supplement.
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.
The information in this prospectus supplement is not complete and may be changed. You should rely only on the
information provided in or incorporated by reference in this prospectus supplement, the accompanying prospectus, or
documents to which we otherwise refer you. We are not making an offer of these securities in any jurisdiction where the
offer or sale is not permitted. You should assume that the information appearing in this prospectus supplement and the
accompanying prospectus, as wel as information we have filed or wil file with the SEC and incorporated by reference in
this prospectus supplement and accompanying prospectus, is accurate only as of the date of the applicable document or
other date referred to in that document. Our business, financial condition, and results of operations may have changed
since that date.
In this prospectus supplement, unless otherwise specified or the context otherwise implies, references to "dollars"
and "$" are to U.S. dol ars. Unless we indicate otherwise or unless the context

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requires otherwise, all references in this prospectus supplement to "Berkshire," "we," "us," "our," or similar references
are to Berkshire Hathaway Inc. excluding its consolidated subsidiaries.
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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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.
About Berkshire Hathaway Inc.
We are incorporated in Delaware and are a holding company owning subsidiaries that engage in a number of
diverse business activities including property and casualty insurance and reinsurance, freight rail transportation,
utilities and energy, finance, manufacturing, services and retailing. Included in the group of subsidiaries that
underwrite property and casualty insurance and reinsurance is GEICO, the third 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 property and casualty insurance include National Indemnity
Company, Columbia Insurance Company, National Fire & Marine Insurance Company, National Liability and Fire
Insurance Company, Medical Protective Company, Applied Underwriters, U.S. Liability Insurance Company, Central
States Indemnity Company, Kansas Bankers Surety, Cypress Insurance Company, Boat U.S. and several other
subsidiaries referred to as the "Homestate Companies."
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. MidAmerican Energy Holdings Company ("MidAmerican") is an international energy
holding company owning a wide variety of operating companies engaged in the generation, transmission and
distribution of energy. Among MidAmerican's operating energy companies are Northern Powergrid; MidAmerican
Energy Company; Pacificorp Energy; Pacific Power and Rocky Mountain Power; and Kern River Gas Transmission
Company and Northern Natural Gas. In addition, MidAmerican owns HomeServices of America, a real estate
brokerage firm. Our finance and financial products businesses primarily engage in proprietary investing strategies
(BH Finance), commercial and consumer lending (Berkshire Hathaway Credit Corporation and Clayton Homes, Inc.)
and transportation equipment and furniture leasing (XTRA and CORT). McLane Company is a wholesale distributor
of groceries and nonfood items to discount retailers, convenience stores, quick service restaurants and others. The
Marmon Group is an international association of approximately 130 manufacturing and service businesses that
operate independently within diverse business sectors. The Lubrizol Corporation, which we acquired in a merger
transaction that closed on September 16, 2011, is a specialty chemical company that produces and supplies
chemical products for transportation, industrial and consumer markets.
Numerous business activities are conducted through our 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 Manvil e 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. Fruit of the Loom, Russel Athletic, Vanity Fair, Garan, Fechheimer, H.H. Brown Shoe Group, Justin Brands
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

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general aviation aircraft. Nebraska Furniture Mart, R.C. Wil ey 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.
In addition, other manufacturing, service and retail businesses include: Buffalo News and the Omaha World-
Herald, 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 high-quality picture framing products;
CTB International, a manufacturer of equipment for the livestock and agricultural industries; International Dairy
Queen, a licensor and service provider to about 6,000 stores that offer prepared dairy treats and food; The
Pampered Chef, the premier direct sel er of kitchen tools in the United States; Forest River, a leading manufacturer
of leisure vehicles in the United States; Business Wire, the leading global distributor of corporate news, multimedia
and regulatory filings; Iscar Metalworking Companies, an industry leader in the metal cutting tools business; TTI, Inc.,
a leading distributor of electronic components; and Richline Group, a leading jewelry manufacturer.
Operating decisions for our various businesses are made by managers of the business units. Investment
decisions and al other capital al ocation decisions are made for us and our subsidiaries by Warren E. Buffett, in
consultation with Charles T. Munger. Mr. Buffett is Chairman and Mr. Munger is Vice Chairman of our Board of
Directors. Our businesses collectively employ approximately 270,000 people.
Our 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

Berkshire Hathaway Inc.
Issuer

$1,100,000,000 aggregate principal amount of 1.90% Senior Notes due
Securities Offered
2017

$600,000,000 aggregate principal amount of 3.40% Senior Notes due

2022.

99.995% in respect of the 1.90% Senior Notes due 2017. 99.723% in
Offering Price
respect of the 3.40% Senior Notes due 2022.

January 31, 2017, in respect of the 1.90% Senior Notes due 2017.
Maturity Date
January 31, 2022, in respect of the 3.40% Senior Notes due 2022.

The 1.90% Senior Notes due 2017 wil bear interest at a rate per annum
Interest
equal to 1.90% payable semi-annual y in arrears on January 31 and July
31 of each year, commencing on July 31, 2012.

The 3.40% Senior Notes 2022 due wil bear interest at a rate per annum

equal to 3.40% payable semi-annual y in arrears on January 31 and July
31 of each year, commencing on July 31, 2012.

The notes wil be our unsecured senior obligations, wil rank pari passu
Ranking
in right of payment with al of our unsubordinated, unsecured
indebtedness and wil be senior in right of payment to all of our
subordinated indebtedness. As of September 30, 2011, we had no
secured indebtedness and $8.3 bil ion of indebtedness, and our
subsidiaries had $52.2 bil ion of indebtedness.

We wil not have the right to redeem the notes prior to maturity.
Redemption

The notes wil not be repayable at the option of the holder prior to
Repayment
maturity.

The notes are not subject to a sinking fund provision.
Sinking Fund

The Depository Trust Company ("DTC") wil act as securities depositary
Form and Denomination
for the notes, which wil be issued only as ful y 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 ful y registered global notes wil be issued
to DTC for the notes. The notes wil be issued in minimum denominations
of $2,000 and integral multiples of $1,000 in excess thereof.

We expect to use the proceeds of this offering for general corporate
Use of Proceeds
purposes. See "Use of Proceeds."

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Trustee
The Bank of New York Mel on Trust Company, N.A.

Governing Law
New York

Risk Factors
You should careful y consider the specific factors set forth under "Risk
Factors," on page S-5 of this prospectus supplement as wel 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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