Business acquisitions |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Business Combination [Abstract] | |
| Significant business acquisitions | Note 2. Business acquisitions Our long-held strategy is to acquire businesses that we believe possess consistent earning power, good returns on equity and able and honest management. Financial results attributable to a business acquisition are included in our Consolidated Financial Statements beginning on the acquisition date. On January 2, 2026, Berkshire completed the acquisition of Occidental Petroleum Corporation’s (“Occidental”) chemicals business (“OxyChem”) pursuant to an agreement that was entered into on October 1, 2025, for cash consideration of approximately $9.4 billion, which includes certain post-closing adjustments pursuant to the terms of the agreement. Also pursuant to the agreement, Occidental retained OxyChem’s legacy environmental liabilities. OxyChem is a global manufacturer of basic chemicals, with applications in water treatment, pharmaceuticals, healthcare, construction and other industries. Preliminary values of OxyChem’s assets as of the acquisition date were $10.7 billion, consisting primarily of property, plant and equipment (approximately $7.0 billion), as well as receivables, inventories and intangible assets. Preliminary values of its liabilities as of the acquisition date were $1.3 billion. On May 31, 2026, Berkshire entered into an Agreement and Plan of Merger (the “Agreement”) with Taylor Morrison Home Corporation (“Taylor Morrison”) to acquire all outstanding shares of Taylor Morrison common stock for $72.50 per share in cash, or approximately $6.8 billion in the aggregate. A majority of the Taylor Morrison shareholders voted to adopt the Agreement on July 22, 2026, and with receipt of all necessary regulatory approvals, the acquisition was completed on July 24, 2026. Taylor Morrison is a national community developer and homebuilder and provides financial services to its customers, including mortgage, title and escrow, and homeowners’ insurance. Given the proximity of the Taylor Morrison acquisition date to the date the accompanying Consolidated Financial Statements were issued, it was impracticable to provide an initial estimate of the values of identifiable assets acquired, liabilities assumed and residual goodwill at this time. We expect to include such disclosures in our interim Consolidated Financial Statements for the period ending September 30, 2026. |