AFLAC INC
For the period ended Jun 30, 2025. Filed Aug 5, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Aug 5, 2025
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Consolidated Statements of Earnings
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| (In millions, except for share and per-share amounts - Unaudited) | 2025 | 2024 | 2025 | 2024 |
| Revenues: | ||||
| Net earned premiums, principally supplemental health insurance (1) | $3,470 | $3,325 | $6,851 | $6,781 |
| Net investment income | 1,081 | 1,095 | 2,036 | 2,095 |
| Net investment gains (losses) | (421) | 696 | (1,384) | 1,647 |
| Other income (loss) | 30 | 22 | 55 | 52 |
| Total revenues | 4,160 | 5,138 | 7,558 | 10,575 |
| Benefits and expenses: | ||||
| Benefits and claims, excluding reserve remeasurement | 2,047 | 1,972 | 4,033 | 4,039 |
| Reserve remeasurement (gains) losses | (37) | (51) | (78) | (107) |
| Total benefits and claims, net | 2,010 | 1,921 | 3,955 | 3,932 |
| Acquisition and operating expenses: | ||||
| Amortization of deferred policy acquisition costs | 221 | 208 | 437 | 424 |
| Insurance commissions | 251 | 246 | 491 | 501 |
| Insurance and other expenses | 804 | 694 | 1,606 | 1,431 |
| Interest expense | 52 | 50 | 102 | 97 |
| Total acquisition and operating expenses | 1,328 | 1,198 | 2,636 | 2,453 |
| Total benefits and expenses | 3,338 | 3,119 | 6,591 | 6,385 |
| Earnings before income taxes | 822 | 2,019 | 967 | 4,190 |
| Income taxes | 223 | 264 | 339 | 556 |
| Net earnings | $599 | $1,755 | $628 | $3,634 |
| Net earnings per share: | ||||
| Basic | $1.12 | $3.11 | $1.16 | $6.38 |
| Diluted | 1.11 | 3.10 | 1.16 | 6.35 |
| Weighted-average outstanding common shares used in computing earnings per share (In thousands): | ||||
| Basic | 536,688 | 564,573 | 540,676 | 569,730 |
| Diluted | 538,425 | 566,838 | 542,629 | 572,160 |
| Cash dividends per share | $.58 | $.50 | $1.16 | $1.00 |
(1)Includes a gain (loss) of an immaterial amount and $(2) for the three-month periods and an immaterial amount and $(5) for the six-month periods ended June 30, 2025 and 2024, respectively, related to remeasurement of the deferred profit liability for limited-payment contracts.
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