BUSINESS SEGMENT INFORMATION

6 Months Ended

Jun. 30, 2012

Segment Reporting [Abstract]

BUSINESS SEGMENT INFORMATION

BUSINESS SEGMENT INFORMATION

The Company consists of two reportable insurance business segments: Aflac Japan and Aflac U.S., both of which sell supplemental health and life insurance. Operating business segments that are not individually reportable are included in the "Other business segments" category.

We do not allocate corporate overhead expenses to business segments. We evaluate and manage our business segments using a financial performance measure called pretax operating earnings. Our definition of operating earnings excludes the following items from net earnings on an after-tax basis: realized investment gains/losses (securities transactions, impairments, and the impact of derivative and hedging activities) and nonrecurring items. We then exclude income taxes related to operations to arrive at pretax operating earnings. Information regarding operations by segment follows:

	Three Months Ended June 30,						Six Months Ended June 30,
(In millions)	2012			2011			2012			2011
Revenues:
Aflac Japan:
Earned premiums	$	4,216		$	3,770		$	8,364		$	7,472
Net investment income	691			636			1,421			1,285
Other income	0			5			16			25
Total Aflac Japan	4,907			4,411			9,801			8,782
Aflac U.S.:
Earned premiums	1,251			1,186			2,482			2,356
Net investment income	153			148			304			291
Other income	2			3			5			6
Total Aflac U.S.	1,406			1,337			2,791			2,653
Other business segments	10			13			24			28
Total business segment revenues	6,323			5,761			12,616			11,463
Realized investment gains (losses)	(418		)	(668		)	(463		)	(1,247		)
Corporate	64			60			128			121
Intercompany eliminations	(67		)	(65		)	(139		)	(133		)
Total revenues	$	5,902		$	5,088		$	12,142		$	10,204

	Three Months Ended June 30,						Six Months Ended June 30,
(In millions)	2012			2011			2012			2011
Pretax earnings:
Aflac Japan	$	964		$	925		$	2,004		$	1,899
Aflac U.S.	258			243			529			494
Total business segment pretax operating earnings	1,222			1,168			2,533			2,393
Interest expense, noninsurance operations	(45		)	(41		)	(89		)	(82		)
Corporate and eliminations	(18		)	(15		)	(38		)	(28		)
Pretax operating earnings	1,159			1,112			2,406			2,283
Realized investment gains (losses)	(418		)	(668		)	(463		)	(1,247		)
Total earnings before income taxes	$	741		$	444		$	1,943		$	1,036
Income taxes applicable to pretax operating earnings	$	404		$	384		$	837		$	789
Effect of foreign currency translation on operating earnings	6			51			26			99

Prior-year amounts have been adjusted for the adoption of accounting guidance on January 1, 2012 related to deferred policy acquisition costs.

Assets were as follows:

(In millions)	June 30, 2012			December 31, 2011
Assets:
Aflac Japan	$	106,832		$	101,692
Aflac U.S.	14,630			13,942
Other business segments	162			160
Total business segment assets	121,624			115,794
Corporate	17,645			16,182
Intercompany eliminations	(17,060		)	(15,739		)
Total assets	$	122,209		$	116,237

Prior-year amounts have been adjusted for the adoption of accounting guidance on January 1, 2012 related to deferred policy acquisition costs.