AFLAC INC
For the period ended Dec 31, 2023. Filed Feb 22, 2024.
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FY2023 · Filed Feb 22, 2024
AFL$124.06-1.7%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Shareholders' Equity
| (In millions, except for per share amounts) | Common Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Treasury Stock | TotalShareholders' Equity |
|---|---|---|---|---|---|---|
| Balance at December 31, 2020 | $135 | $2,410 | $37,984 | $8,934 | $(15,904) | $33,559 |
| Cumulative effect of change in accounting principle - Accounting Standards Update (ASU) 2018-12, net of income taxes | 0 | 0 | (324) | (18,570) | 0 | (18,894) |
| Balance at January 1, 2021 | 135 | 2,410 | 37,660 | (9,636) | (15,904) | 14,665 |
| Net earnings | 0 | 0 | 4,231 | 0 | 0 | 4,231 |
| Unrealized foreign currency translation gains (losses) during period, net of income taxes | 0 | 0 | 0 | (876) | 0 | (876) |
| Unrealized gains (losses) on fixed maturity securities during period, net of income taxes and reclassification adjustments | 0 | 0 | 0 | (759) | 0 | (759) |
| Unrealized gains (losses) on derivatives during period, net of income taxes | 0 | 0 | 0 | 4 | 0 | 4 |
| Effect of changes in discount rate assumptions during period, net of income taxes | 0 | 0 | 0 | 2,738 | 0 | 2,738 |
| Pension liability adjustment during period, net of income taxes | 0 | 0 | 0 | 118 | 0 | 118 |
| Dividends to shareholders (1) ($1.39 per share) | 0 | 0 | (928) | 0 | 0 | (928) |
| Exercise of stock options | 0 | 18 | 0 | 0 | 0 | 18 |
| Share-based compensation | 0 | 61 | 0 | 0 | 0 | 61 |
| Purchases of treasury stock | 0 | 0 | 0 | 0 | (2,322) | (2,322) |
| Treasury stock reissued | 0 | 40 | 0 | 0 | 41 | 81 |
| Balance at December 31, 2021 | 135 | 2,529 | 40,963 | (8,411) | (18,185) | 17,031 |
| Net earnings | 0 | 0 | 4,418 | 0 | 0 | 4,418 |
| Unrealized foreign currency translation gains (losses) during period, net of income taxes | 0 | 0 | 0 | (1,579) | 0 | (1,579) |
| Unrealized gains (losses) on fixed maturity securities during period, net of income taxes and reclassification adjustments | 0 | 0 | 0 | (10,304) | 0 | (10,304) |
| Unrealized gains (losses) on derivatives during period, net of income taxes | 0 | 0 | 0 | 3 | 0 | 3 |
| Effect of changes in discount rate assumptions during period, net of income taxes | 0 | 0 | 0 | 13,732 | 0 | 13,732 |
| Pension liability adjustment during period, net of income taxes | 0 | 0 | 0 | 130 | 0 | 130 |
| Dividends to shareholders (1) ($1.62 per share) | 0 | 0 | (1,014) | 0 | 0 | (1,014) |
| Exercise of stock options | 0 | 12 | 0 | 0 | 0 | 12 |
| Share-based compensation | 0 | 62 | 0 | 0 | 0 | 62 |
| Purchases of treasury stock | 0 | 0 | 0 | 0 | (2,425) | (2,425) |
| Treasury stock reissued | 0 | 38 | 0 | 0 | 36 | 74 |
| Balance at December 31, 2022 | $135 | $2,641 | $44,367 | $(6,429) | $(20,574) | $20,140 |
(1)Dividends to shareholders are recorded in the period in which they are declared.
(continued)
Consolidated Statements of Shareholders’ Equity (continued)
| (In millions, except for per share amounts) | Common Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Treasury Stock | TotalShareholders' Equity |
|---|---|---|---|---|---|---|
| Balance at December 31, 2022 | $135 | $2,641 | $44,367 | $(6,429) | $(20,574) | $20,140 |
| Net earnings | 0 | 0 | 4,659 | 0 | 0 | 4,659 |
| Unrealized foreign currency translation gains (losses) during period, net of income taxes | 0 | 0 | 0 | (505) | 0 | (505) |
| Unrealized gains (losses) on fixed maturity securities during period, net of income taxes and reclassification adjustments | 0 | 0 | 0 | 1,841 | 0 | 1,841 |
| Unrealized gains (losses) on derivatives during period, net of income taxes | 0 | 0 | 0 | 5 | 0 | 5 |
| Effect of changes in discount rate assumptions during period, net of income taxes | 0 | 0 | 0 | (460) | 0 | (460) |
| Pension liability adjustment during period, net of income taxes | 0 | 0 | 0 | 28 | 0 | 28 |
| Dividends to shareholders (1) ($1.76 per share) | 0 | 0 | (1,033) | 0 | 0 | (1,033) |
| Exercise of stock options | 0 | 13 | 0 | 0 | 0 | 13 |
| Share-based compensation | 1 | 74 | 0 | 0 | 0 | 75 |
| Purchases of treasury stock | 0 | 0 | 0 | 0 | (2,854) | (2,854) |
| Treasury stock reissued | 0 | 43 | 0 | 0 | 33 | 76 |
| Balance at December 31, 2023 | $136 | $2,771 | $47,993 | $(5,520) | $(23,395) | $21,985 |
(1)Dividends to shareholders are recorded in the period in which they are declared.
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