For the past 3 quarters, Google has included 8B in net income from an unnamed equity investment. Nothing large enough is listed in their 13-Fs, so I am beginning to wonder if this is Google using ASU 2016-01 and their Anthropic investment. Longtime BRK fans will note that WB/CM don't care much for ASU 2016-01 – causing wild swings in net income that aren't representative of what's actually occurring at BRK.

My reading of ASU 2016-01 is (admittedly) incomplete, but I am under the impression that accounting rule is really used for marking to market of publicly traded equities. Anthropic is not publicly traded, so perhaps I am wrong and that the rule should also be used for private equities as well?

Anyone have any insight here? GOOG(L) having applied it for 3 quarters in a row has me questioning what I understand is going on.

Thanks in advance.

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