Recording unrealized gains on long-term derivatives, lolz
Reading this man's biography has made me interested in this company he runs, but I hate GAAP. Because it's dumb and often misleading due to depreciation and cash flow and stuff. It's a screwy system where declining cash balances can result in substantial paper-profits, which are then horrible next quarter becaus you can't move any of your garbage.
Kind of unrelated to Berkshire, but they have to report their derivatives gains and losses which is misleading to a lot of people and obfuscates the true profitability of the company. ACCOUNTANTS AND OTHER COOL PEOPLE SOUND OFF.
Everyone else, maybe not.