Net income more than doubled to US$25.67 billion, including unrealised gains and losses on stocks that Omaha, Nebraska-based Berkshire still owns. Berkshire ended June with US$364.7 billion of cash, down from a record US$380.2 billion three months earlier. The reported cash stake includes US$6.8 billion that Berkshire spent in late July to buy home builder Taylor Morrison. Berkshire’s $12.98 billion of operating profit equaled about $9,068 per Class A share, and rose from $11.16 billion a year earlier. Berkshire Hathaway Energy said profit rose 27 per cent to US$891 million, benefiting from higher utility margins and tax credits.