SHAREHOLDERS' EQUITY

12 Months Ended

Dec. 31, 2012

Stockholders' Equity Note [Abstract]

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY

The following table is a reconciliation of the number of shares of the Company's common stock for the years ended December 31.

(In thousands of shares)	2012	2011	2010
Common stock - issued:
Balance, beginning of period	663,639	662,660	661,209
Exercise of stock options and issuance of restricted shares	1,600	979	1,451
Balance, end of period	665,239	663,639	662,660
Treasury stock:
Balance, beginning of period	197,329	192,999	192,641
Purchases of treasury stock:
Open market	1,948	6,000	2,000
Other	360	182	192
Dispositions of treasury stock:
Shares issued to AFL Stock Plan	(1,670)	(1,690)	0
Exercise of stock options	(387)	(88)	(1,752)
Other	(127)	(74)	(82)
Balance, end of period	197,453	197,329	192,999
Shares outstanding, end of period	467,786	466,310	469,661

Outstanding share-based awards are excluded from the calculation of weighted-average shares used in the computation of basic earnings per share (EPS). The following table presents the approximate number of share-based awards to purchase shares, on a weighted-average basis, that were considered to be anti-dilutive and were excluded from the calculation of diluted earnings per share at December 31:

(In thousands)	2012		2011		2010
Anti-dilutive share-based awards		5,880		6,145		3,252

The weighted-average shares used in calculating earnings per share for the years ended December 31 were as follows:

(In thousands of shares)	2012	2011	2010
Weighted-average outstanding shares used for calculating basic EPS	466,868	466,519	469,038
Dilutive effect of share-based awards	2,419	2,851	4,047
Weighted-average outstanding shares used for calculating diluted EPS	469,287	469,370	473,085

Share Repurchase Program:During 2012, we purchased 1.9 million shares of our common stock in the open market, compared with 6.0 million shares in 2011 and 2.0 million shares in 2010.

As of December 31, 2012, a remaining balance of 22.4 millionshares of our common stock was available for purchase under a share repurchase authorization by our board of directors in 2008.

Voting Rights: In accordance with the Parent Company's articles of incorporation, shares of common stock are generally entitled to one vote per share until they have been held by the same beneficial owner for a continuous period of 48 months, at which time they become entitled to 10 votes per share.