AFLAC INC
For the period ended Dec 31, 2024. Filed Feb 26, 2025.
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FY2024 · Filed Feb 26, 2025
AFL$126.64+1.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Financial Statements Consolidated Statements of Earnings
Consolidated Statements of Earnings
| (In millions, except for share and per-share amounts) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Revenues: | |||
| Net earned premiums, principally supplemental health insurance (1) | $13,440 | $14,123 | $14,901 |
| Net investment income | 4,116 | 3,811 | 3,656 |
| Net investment gains (losses) | 1,271 | 590 | 363 |
| Other income (loss) | 100 | 177 | 220 |
| Total revenues | 18,927 | 18,701 | 19,140 |
| Benefits and expenses: | |||
| Benefits and claims, excluding reserve remeasurement | 8,008 | 8,594 | 9,102 |
| Reserve remeasurement (gains) losses | (558) | (383) | (215) |
| Total benefits and claims, net | 7,450 | 8,211 | 8,887 |
| Acquisition and operating expenses: | |||
| Amortization of deferred policy acquisition costs | 851 | 816 | 792 |
| Insurance commissions | 998 | 1,052 | 1,117 |
| Insurance and other expenses | 3,014 | 3,165 | 3,249 |
| Interest expense | 197 | 195 | 226 |
| Total acquisition and operating expenses | 5,060 | 5,228 | 5,384 |
| Total benefits and expenses | 12,510 | 13,439 | 14,271 |
| Earnings before income taxes | 6,417 | 5,262 | 4,869 |
| Income tax expense (benefit): | |||
| Current | 1,330 | 1,663 | 1,181 |
| Deferred | (356) | (1,060) | (730) |
| Income taxes | 974 | 603 | 451 |
| Net earnings | $5,443 | $4,659 | $4,418 |
| Net earnings per share: | |||
| Basic | $9.68 | $7.81 | $6.96 |
| Diluted | 9.63 | 7.78 | 6.93 |
| Weighted-average outstanding common shares used in computing earnings per share (In thousands): | |||
| Basic | 562,492 | 596,173 | 634,816 |
| Diluted | 565,015 | 598,745 | 637,655 |
| Cash dividends per share | $2.00 | $1.68 | $1.60 |
(1)Includes a gain (loss) of $(81), $20 and $(42) in 2024, 2023 and 2022, respectively, related to remeasurement of the deferred profit liability for limited-payment contracts.
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