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It depends on your definition of book value. If book value is the equity on Sept 30, as published in the Q3 report, then no adjustment is necessary.

I don't think so. Any repurchase done at prices above book value will depress book value per share vs. the scenario where no repurchases are made. Obviously all kinds of other things impact book value and book value per share but the mechanics of calculating the impact of the repurchases themselves is pretty straight forward. When the annual report comes out we will be able to easily calculate the hypothetical book value per share if the repurchases were never made.

I suspect that Buffett will write about this in the annual letter this year. After all, his "scorecard" uses book value per share and he has written about how this is an imperfect measure of value. If repurchases become more significant in the future, the impact will be more material.
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