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Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A)
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Author: nola622 ✶🐝  😊 😞
Number: of 15065 
Subject: Re: Pilot owners suing BRK
Date: 10/27/2023 3:27 PM
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Just as an update to this, in case anybody wondered what the actual accounting change was -

Berkshire's acquisition of Pilot greatly increased the non-cash depreciation and amortization expense at Pilot, reducing their reported profitability under GAAP:

From BRK's 10Q on Pilot's earnings/expenses:
"Operating and other expenses include depreciation and amortization expense of $243 million in the second quarter of 2023 and $411 million in the five months ending June 30, 2023, a significant portion of which derives from property, plant and equipment and finite-lived intangible asset fair value remeasurements in connection with our application of the acquisition accounting method in 2023."

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