BRK-B · 10-Q · 2026Q2 · Full report

FX / Currency Headwinds

BERKSHIRE HATHAWAY INC · 2026-08-10 · Importance 57 · Surprise 64 · Matches filing data

Foreign-currency gains on Berkshire and BHFC non-U.S.-dollar borrowings were $326 million after tax in the second quarter and $575 million in the first six months of 2026. These compared with after-tax losses of $877 million and $1.6 billion, respectively, in the prior-year periods, increasing other earnings by $1.2 billion and $2.5 billion. Foreign-currency translation also contributed to higher life and health reinsurance premiums, while certain reinsurance contracts remain exposed to currency remeasurement.

Key facts

• After-tax foreign currency exchange gains were $326 million in the second quarter and $575 million in the first six months of 2026 compared to losses of $877 million in the second quarter and $1.6 billion in the first six months of 2025 source
• Foreign currency exchange rate gains (losses) on Berkshire and BHFC non-U.S. Dollar senior notes were $(877) million in the second quarter and $(1,590) million in the first six months (table amounts). source
• Revenue increases in the consumer products group at Brooks Sports, Duracell, Jazwares and Richline were attributable to combinations of higher volumes, changes in sales mix and/or favorable foreign currency translation effects. source

Impact estimates