AFLAC INC

10-K & 10-Q Filings

Aflac Incorporated is a Georgia-based company that was incorporated in 1973. The company's primary business is providing financial protection to policyholders and customers in Japan and the United States through supplemental health and life insurance products. The company's strategy for growth involves offering relevant insurance products and selling where customers prefer to purchase protection, whether through agents, brokers, distribution partners, or directly from the company. The company has two reporting segments: Aflac Japan and Aflac U.S. Aflac Japan is the principal contributor to the Parent Company's consolidated earnings and the largest insurer in Japan in terms of cancer and medical (third sector insurance products) policies in force. Aflac U.S. designs its insurance products to provide supplemental coverage for people who already have major medical or primary insurance coverage. Aflac Japan offers various third and first sector insurance products, including cancer, medical, income support, nursing care, and work leave insurance. The company's distribution channels include traditional sales channels, alliances with Dai-ichi Life, Japan Post Group, and Daido Life, and banks. Aflac U.S. offers accident, disability, critical care, hospital indemnity, dental and vision, and life insurance products on both an individual and group basis. The company's distribution channels include independent associates/career agents, brokers, and directly reaching consumers outside of the traditional worksite through digital lead generation. The company's website is www.aflac.com. Its ticker symbol is AFL.

12 mos ending Dec 31, 201112 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$22171.00
25364.00
23939.00
22728.00
20872.00
22559.00
21667.00
21758.00
22307.00
22147.00
22106.00
19502.00
18701.00
4800.00
5436.00
-1.41%13.25%Premiums Earned (+)
$20362.00
22148.00
20135.00
19072.00
17570.00
19225.00
18531.00
18677.00
18780.00
18622.00
17647.00
15263.00
14123.00
3688.00
3456.00
-3.00%-6.29%Cost of Revenue (-)
$
10576.00
9153.00
8211.00
2150.00
2010.00
-6.51%Selling, General & Administrative (-)
$2225.00
2415.00
2222.00
2261.00
2214.00
2452.00
2780.00
2988.00
3089.00
3420.00
3544.00
3250.00
3165.00
775.00
739.00
2.98%-4.65%Non-recurring Operating Expenses (-)
$1901.00
977.00
199.00
31.00
153.00
83.00
37.00
Operating Expenses (-)
$4328.00
5592.00
2222.00
4223.00
4351.00
4515.00
4373.00
4530.00
4638.00
4978.00
6208.00
5745.00
5228.00
1308.00
1256.00
1.59%-3.98%Costs & Expenses (Total) (-)
$19179.00
21062.00
19123.00
18237.00
17010.00
18492.00
17649.00
17775.00
17862.00
17988.00
16784.00
14898.00
13439.00
3458.00
3266.00
-2.92%-5.55%Operating Income/Loss (+)
$2992.00
4302.00
4816.00
4491.00
3862.00
4067.00
4018.00
3983.00
4445.00
4159.00
5322.00
4604.00
5262.00
1342.00
2170.00
4.82%61.70%Non-operating Income/Expense (+)
$-245.00
-230.00
-137.00
-13.00
Interest Expense (-)
$196.00
261.00
293.00
317.00
289.00
268.00
240.00
222.00
228.00
242.00
238.00
226.00
195.00
48.00
47.00
-0.04%-2.08%Earnings before Tax (+)
$2992.00
4302.00
4816.00
4491.00
3862.00
4067.00
4018.00
3983.00
4445.00
4159.00
5322.00
4604.00
5262.00
1342.00
2170.00
4.82%61.70%Tax Expense (-)
$1028.00
1436.00
1658.00
1540.00
1329.00
1408.00
-586.00
1063.00
1141.00
-619.00
997.00
403.00
603.00
154.00
291.00
-4.35%88.96%Income/Loss (Continuing Operations) (+)
$1964.00
2866.00
3158.00
2951.00
2533.00
2659.00
4604.00
2920.00
3304.00
4778.00
4325.00
4201.00
4659.00
1188.00
1879.00
7.46%58.16%Net Income/Loss (+)
$1964.00
2866.00
3158.00
2951.00
2533.00
2659.00
4604.00
2920.00
3304.00
4778.00
4325.00
4201.00
4659.00
1188.00
1879.00
7.46%58.16%Net Income/Loss (Common) (+)
$1964.00
2866.00
3158.00
2951.00
2533.00
2659.00
4604.00
2920.00
3304.00
4778.00
4325.00
4201.00
4659.00
1188.00
1879.00
7.46%58.16%EPS (Basic)
$4.21
6.14
6.80
6.54
5.88
6.46
11.63
3.79
4.45
6.69
6.42
6.62
7.81
1.94
3.27
5.28%68.56%EPS (Diluted)
$4.18
6.11
6.76
6.50
5.85
6.42
11.54
3.77
4.43
6.67
6.39
6.59
7.78
1.94
3.25
5.31%67.53%Weighted Avg Shares (Basic)
466.52
466.87
464.50
451.20
430.65
411.47
396.02
769.59
742.41
713.70
673.62
634.82
596.17
611.21
574.89
2.06%-5.94%Weighted Avg Shares (Diluted)
469.37
469.29
467.41
454.00
433.17
413.92
398.93
774.65
746.43
716.19
676.73
637.65
598.75
613.95
577.48
2.05%-5.94%Cash
$2249.00
2041.00
2543.00
4658.00
4350.00
4859.00
3491.00
4337.00
4896.00
5141.00
5051.00
3943.00
4306.00
3809.00
5098.00
5.56%33.84%Receivables
$680.00
976.00
1165.00
842.00
705.00
669.00
827.00
851.00
828.00
796.00
693.00
647.00
848.00
789.00
1038.00
1.86%31.56%Securities & Long-term Investments
$53641.00
116178.00
47846.00
37110.00
36198.00
37742.00
37644.00
121906.00
133195.00
144622.00
137927.00
113454.00
109254.00
116691.00
106618.00
6.11%-8.63%Property, Plant & Equipment (Net)
$617.00
564.00
481.00
429.00
427.00
433.00
434.00
443.00
581.00
601.00
538.00
530.00
445.00
528.00
418.00
-2.69%-20.83%Other Assets
$59915.00
11335.00
69272.00
76728.00
76616.00
86116.00
94821.00
12869.00
13268.00
13926.00
13333.00
12443.00
11871.00
13149.00
11570.00
-12.62%-12.01%Assets (Total)
$117102.00
131094.00
121307.00
119767.00
118296.00
129819.00
137217.00
140406.00
152768.00
165086.00
157542.00
131017.00
126724.00
134966.00
124742.00
0.66%-7.58%Insurance Liabilities
$90612.00
93915.00
85639.00
80303.00
83829.00
89681.00
94755.00
98604.00
101895.00
109204.00
100236.00
88697.00
91338.00
99704.00
85020.00
0.07%-14.73%Securities (Liabilities)
$
2162.00
1809.00
1503.00
3460.00
3366.00
-2.72%Debt (Non-current)
$3285.00
4352.00
4897.00
5282.00
5011.00
5360.00
5289.00
5778.00
6569.00
7899.00
7956.00
7442.00
7364.00
7420.00
7912.00
6.96%6.63%Other Liabilities
$9699.00
16849.00
16151.00
15835.00
11748.00
14296.00
12575.00
12562.00
15345.00
14424.00
13935.00
10704.00
4534.00
4598.00
4907.00
-6.14%6.72%Liabilities (Total)
$103596.00
115116.00
106687.00
101420.00
100588.00
109337.00
112619.00
116944.00
123809.00
131527.00
124289.00
108652.00
104739.00
115182.00
101205.00
0.09%-12.13%Treasury Stock
$5641.00
5696.00
6413.00
7566.00
8819.00
10172.00
11512.00
12789.00
14395.00
15904.00
18185.00
20574.00
23395.00
21293.00
24175.00
12.59%13.53%Retained Earnings
$15583.00
17387.00
19885.00
22156.00
24007.00
25981.00
29895.00
31788.00
34291.00
37984.00
41381.00
44568.00
47993.00
45555.00
49872.00
9.83%9.48%AOCI
$2090.00
2715.00
-563.00
1979.00
625.00
2630.00
4028.00
2151.00
6615.00
8934.00
7393.00
-4405.00
-5520.00
-7278.00
-5102.00
29.90%Shareholder's Equity
$13506.00
15978.00
14620.00
18347.00
17708.00
20482.00
24598.00
23462.00
28959.00
33559.00
33253.00
22365.00
21985.00
19784.00
23537.00
4.14%18.97%Liabilities & Equity
$117102.00
131094.00
121307.00
119767.00
118296.00
129819.00
137217.00
140406.00
152768.00
165086.00
157542.00
131017.00
126724.00
134966.00
124742.00
0.66%-7.58%Net Income/Loss
$1964.00
2866.00
3158.00
2951.00
2533.00
2659.00
4604.00
2920.00
3304.00
4778.00
4325.00
4201.00
4659.00
1188.00
1879.00
7.46%58.16%Depreciation & Amortization
$
1132.00
1245.00
1282.00
1214.00
1170.00
1152.00
816.00
205.00
215.00
4.88%Increase/Decrease in Working Capital
$-7302.00
-11771.00
-7387.00
-3505.00
-3394.00
-2974.00
-1559.00
-2352.00
-1828.00
-656.00
-1166.00
-105.00
1652.00
241.00
-282.00
-217.01%Adjustments to Reconcile Net Income
$8878.00
12086.00
7389.00
3599.00
4243.00
3328.00
1524.00
3135.00
2188.00
1212.00
750.00
-308.00
-1459.00
-480.00
-1030.00
-114.58%Net Cash (Operating)
$10842.00
14952.00
10547.00
6550.00
6776.00
5987.00
6128.00
6014.00
5455.00
5958.00
5051.00
3879.00
3190.00
708.00
849.00
-9.69%19.92%Capital Expenditure
$
40.00
Net Cash (Investing)
$-10829.00
-16952.00
-11091.00
-4241.00
-4897.00
-3855.00
-5431.00
-3582.00
-3171.00
-4619.00
-2378.00
-1540.00
817.00
105.00
227.00
116.19%Increase/Decrease in Debt
$891.00
2622.00
2490.00
1668.00
-18.00
535.00
-86.00
439.00
614.00
1184.00
417.00
-222.00
44.00
-28.00
773.00
-22.17%2860.71%Increase/Decrease in Equity
$-282.00
-86.00
-725.00
-1177.00
-1279.00
-1376.00
-1318.00
-1243.00
-1578.00
-1503.00
-2275.00
-2384.00
-2784.00
-698.00
-744.00
-6.59%Interest Expenses
$191.00
178.00
210.00
241.00
236.00
211.00
196.00
181.00
190.00
210.00
213.00
211.00
185.00
37.00
34.00
-0.27%-8.11%Dividends Paid
$552.00
603.00
635.00
654.00
656.00
658.00
661.00
793.00
771.00
769.00
855.00
979.00
966.00
248.00
278.00
4.77%12.10%Net Cash (Financing)
$64.00
1945.00
1136.00
-147.00
-2187.00
-1619.00
-2065.00
-1616.00
-1713.00
-1115.00
-2739.00
-3551.00
-3723.00
-933.00
-256.00
72.56%Cash Taxes Paid
$828.00
788.00
754.00
1416.00
996.00
1526.00
780.00
998.00
1384.00
800.00
880.00
961.00
1569.00
5.47%Effect of Exchange Rate
$51.00
-153.00
-90.00
-47.00
-4.00
30.00
-12.00
21.00
-24.00
104.00
79.00
-14.00
-28.00
3.71%-100.00%Increase/Decrease in Cash
$128.00
-208.00
502.00
2115.00
-308.00
509.00
-1368.00
846.00
559.00
245.00
-90.00
-1108.00
363.00
-134.00
792.00
9.07%691.04%Cash (Beginning)
$2121.00
2249.00
2041.00
2543.00
4658.00
4350.00
4859.00
3491.00
4337.00
4896.00
5141.00
5051.00
3943.00
3943.00
4306.00
5.30%9.21%Cash (Ending)
$2249.00
2041.00
2543.00
4658.00
4350.00
4859.00
3491.00
4337.00
4896.00
5141.00
5051.00
3943.00
4306.00
3809.00
5098.00
5.56%33.84%NOPAT
$2164.00
3514.00
4062.00
3075.00
2866.00
2541.00
4604.00
2985.00
3061.00
4778.00
4442.00
3643.00
3693.00
1188.00
1879.00
4.55%58.16%Operating Margin %
13.50%
16.96%
20.12%
19.76%
18.50%
18.03%
18.54%
18.31%
19.93%
18.78%
24.07%
23.61%
28.14%
27.96%
39.92%
NOPAT Margin %
9.76%
13.85%
16.97%
13.53%
13.73%
11.26%
21.25%
13.72%
13.72%
21.57%
20.09%
18.68%
19.75%
24.75%
34.57%
Net Margin %
8.86%
11.30%
13.19%
12.98%
12.14%
11.79%
21.25%
13.42%
14.81%
21.57%
19.56%
21.54%
24.91%
24.75%
34.57%
Tax Rate %
27.67%
18.32%
15.66%
31.53%
25.79%
37.52%
-14.58%
25.06%
31.14%
-14.88%
16.54%
20.87%
29.82%
11.48%
13.41%
ROA
1.85%
2.68%
3.35%
2.57%
2.42%
1.96%
3.36%
2.13%
2.00%
2.89%
2.82%
2.78%
2.91%
0.88%
1.51%
ROE
16.02%
21.99%
27.78%
16.76%
16.18%
12.41%
18.72%
12.72%
10.57%
14.24%
13.36%
16.29%
16.80%
6.00%
7.98%
ROIC
350.73%
623.05%
844.49%
716.78%
671.19%
586.84%
1060.83%
673.81%
526.85%
795.01%
825.65%
687.36%
829.89%
225.00%
449.52%
Asset Turnover
0.19
0.19
0.20
0.19
0.18
0.17
0.16
0.15
0.15
0.13
0.14
0.15
0.15
0.04
0.04
Equity Multiplier
8.67
8.20
8.30
6.53
6.68
6.34
5.58
5.98
5.28
4.92
4.74
5.86
5.76
6.82
5.30
Debt/Equity Ratio
0.24
0.27
0.33
0.29
0.28
0.26
0.22
0.25
0.23
0.24
0.24
0.33
0.33
0.38
0.34
Interest Coverage Ratio
15.66
24.17
22.93
18.63
16.36
19.27
20.50
22.01
23.39
19.80
24.99
21.82
28.44
36.27
63.82
Dividend Payout Ratio %
25.51%
17.16%
15.63%
21.27%
22.89%
25.90%
14.36%
26.57%
25.19%
16.09%
19.25%
26.87%
26.16%
20.88%
14.80%
Total Payout
$134.00
-1755.00
-920.00
404.00
2189.00
1710.00
2261.00
1778.00
1925.00
1298.00
2926.00
3796.00
3891.00
1011.00
283.00
32.41%-72.01%Payout Ratio %
6.19%
-49.94%
-22.65%
13.14%
76.38%
67.30%
49.11%
59.56%
62.89%
27.17%
65.87%
104.20%
105.36%
85.10%
15.06%