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Thanks! How does Buffett account for stock repurchases/treasury shares? Are these considered retained?

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It's treasury stock. You can find this information in the latest 10-Q. On the balance sheet, it is recorded as "Treasury Stock, At Cost". Note 19 shows treasury stock acquired for the first nine months of the year as well as the cumulative total.

This screenshot from my spreadsheet tracking all of the repurchases shows this year's activity by month and the section of Note 19 I am referring to. The screen shot does not show repurchases prior to 2023, but the totals are for the entire history. As you can see, they tie perfectly to the shares retired as shown in Note 19.

https://rationalwalk.com/wp-content/uploads/2023/11/BRK-Repurchases-throughQ3-2023.png

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Great job and thanks!

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Excellent update on the Retained Earnings Test. Thanks for publishing.

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thanks, great article. Feel pretty happy holding BRK vs. the S&P 500 right now.

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