The Marmon Group, LLC Business Report FY ended Dec. 2014

Financial Overview

(in million USD)

	FY ended Dec. 31, 2014	FY ended Dec. 31, 2013	Rate of Change (%)	Factors
Revenues	5,950	5,200	15	1)
Pre-tax earnings	708	597	19	-

Factors
1) Revenues
-The Company's manufacturing revenues were USD 5.95 billion in 2014, an increase of USD 791 million (15%) compared to USD 5.2 billion in 2013. The revenue increase in 2014 was primarily attributable to the beverage dispensing and merchandising businesses acquired at the beginning of 2014. Excluding this acquisition's impact, revenues were relatively unchanged from 2013. In 2014, the Company experienced volume-driven revenue growth in several business markets: including commercial trailer and aftermarket brake drums; and automotive, safety and construction fastener markets.

Aquisition

-On November 13, 2014 Berkshire entered into a definitive agreement with Procter & Gamble Company (P&G) whereby it will acquire the Duracell battery business from P&G. The transaction is expected to close in the second half of 2015. Duracell will then be placed under Marmon's jurisdiction.

Capital Expenditure

(in million USD)

	N/A in FY ended Dec. 31, 2014	FY ended Dec. 31, 2013	FY ended Dec. 31, 2012
Overall	N/A in FY ended Dec. 31, 2014	847	817

Data

Number of Employees

	Dec. 2014	Dec. 2013	Dec. 2012
Total	19,906	16,961	17,491

Marmon Group Revenues

(in million USD)

	N/A in FY ended Dec. 31, 2014	FY ended Dec. 31, 2013	FY ended Dec. 31, 2012
Revenues		6,979	7,171
EBIT		1,176	1,137

Marmon Businesses in the Manufacturing Group

(in million USD)

	FY ended Dec. 31, 2014	FY ended Dec. 31, 2013	N/A in FY ended Dec. 31, 2012
Revenues	5,950	5,200
Pre-tax earnings	708	597

-In 2014, Berkshire reorganized the Company's diversified operations to two business groups: Marmon's diversified manufacturing operations included in the Manufacturing group, and Marmon's transportation equipment manufacturing and leasing businesses are included in the Finance and financial products group. These operations were presented separately as the Marmon group in prior years.