A breakdown of Berkshire Hathaway's diverse businesses in 2017. - From https://finance.yahoo.com/news/berkshire-101-introduction-warren-buffetts-400-billion-empire-152556528.html?soc_src=mail&soc_trk=ma
As Berkshire has gotten bigger and diversified its businesses, its insurance operations have become a smaller contributor to earnings than in the past, currently making up 26% of total company earnings.
Companies include food supply chain company McLane, manufacturing businesses (like specialty chemicals company Lubrizol, industrial components company Marmon, flooring company Shaw Industries, and paint and coatings company Benjamin Moore), service and retailing businesses (including NetJets, See’s Candies, Borsheim Jewelry Company, the Pampered Chef, and Oriental Trading Company), recently acquired battery maker Duracell, and aerospace components manufacturer Precision Castparts, which Berkshire bought in 2015 for $37 billion.
Buffett’s preferred method for evaluating the attractiveness of investments and businesses is intrinsic value, which represents the sum of all of discounted cash flows that can be taken out of a business during its remaining life.
However, Buffett has noted that the metric has underrepresented Berkshire’s intrinsic value because of the number of operating businesses Berkshire has acquired, which are held on the books at cost.
Berkshire has an open-ended share repurchase program that authorizes management to repurchase shares if the stock price drops below a price-to-book ratio of 1.2x.