AFLAC INC
For the period ended Dec 31, 2024. Filed Feb 26, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
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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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| (In millions) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Cash flows from operating activities: | |||
| Net earnings | $5,443 | $4,659 | $4,418 |
| Adjustments to reconcile net earnings to net cash provided (used) by operating activities: | |||
| Change in receivables and advance premiums | 51 | (133) | 5 |
| Capitalization of deferred policy acquisition costs | (1,056) | (1,086) | (1,054) |
| Amortization of deferred policy acquisition costs | 851 | 816 | 792 |
| Increase in policy liabilities | (302) | (552) | 726 |
| Change in income tax liabilities | (393) | (967) | (509) |
| Net investment (gains) losses | (1,271) | (590) | (363) |
| Other, net | (616) | 1,043 | (136) |
| Net cash provided (used) by operating activities | 2,707 | 3,190 | 3,879 |
| Cash flows from investing activities: | |||
| Proceeds from investments sold or matured: | |||
| Available-for-sale fixed maturity securities | 7,205 | 3,811 | 4,418 |
| Equity securities | 782 | 404 | 570 |
| Held-to-maturity fixed maturity securities | 3 | 3 | 3 |
| Commercial mortgage and other loans | 2,435 | 1,641 | 2,190 |
| Costs of investments acquired: | |||
| Available-for-sale fixed maturity securities | (5,542) | (2,801) | (3,514) |
| Equity securities | (411) | (357) | (461) |
| Commercial mortgage and other loans | (1,376) | (996) | (3,897) |
| Other investments, net | (972) | (417) | (227) |
| Settlement of derivatives, net | (184) | 79 | (61) |
| Cash received (pledged or returned) as collateral, net | 780 | (401) | (673) |
| Other, net | 61 | (149) | 112 |
| Net cash provided (used) by investing activities | 2,781 | 817 | (1,540) |
| Cash flows from financing activities: | |||
| Purchases of treasury stock | (2,800) | (2,801) | (2,401) |
| Proceeds from borrowings | 823 | 204 | 1,277 |
| Principal payments under debt obligations | (194) | 0 | (1,416) |
| Dividends paid to shareholders | (1,087) | (966) | (979) |
| Change in investment-type contracts, net | (214) | (160) | (83) |
| Treasury stock reissued | 14 | 17 | 17 |
| Other, net | (28) | (17) | 34 |
| Net cash provided (used) by financing activities | (3,486) | (3,723) | (3,551) |
| Effect of exchange rate changes on cash and cash equivalents | (79) | 79 | 104 |
| Net change in cash and cash equivalents | 1,923 | 363 | (1,108) |
| Cash and cash equivalents, beginning of period | 4,306 | 3,943 | 5,051 |
| Cash and cash equivalents, end of period | $6,229 | $4,306 | $3,943 |
| Supplemental disclosures of cash flow information: | |||
| Income taxes paid | $1,367 | $1,569 | $961 |
| Interest paid | 180 | 185 | 211 |
| Noncash interest | 17 | 10 | 14 |
| Noncash real estate acquired in satisfaction of debt | 468 | 217 | 0 |
| Noncash financing activities: | |||
| Lease obligations | 33 | 75 | 102 |
| Treasury stock issued for: | |||
| Associate stock bonus | 20 | 17 | 14 |
| Shareholder dividend reinvestment | 41 | 37 | 37 |
| Share-based compensation grants | 6 | 5 | 6 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.