SHAREHOLDERS' EQUITY

12 Months Ended

Dec. 31, 2013

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)	2013	2012	2011
Common stock - issued:
Balance, beginning of period	665,239	663,639	662,660
Exercise of stock options and issuance of restricted shares	1,807	1,600	979
Balance, end of period	667,046	665,239	663,639
Treasury stock:
Balance, beginning of period	197,453	197,329	192,999
Purchases of treasury stock:
Open market	13,212	1,948	6,000
Other	222	360	182
Dispositions of treasury stock:
Shares issued to AFL Stock Plan	(1,365)	(1,670)	(1,690)
Exercise of stock options	(1,734)	(387)	(88)
Other	(155)	(127)	(74)
Balance, end of period	207,633	197,453	197,329
Shares outstanding, end of period	459,413	467,786	466,310

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)	2013		2012		2011
Anti-dilutive share-based awards		2,198		5,880		6,145

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

(In thousands of shares)	2013	2012	2011
Weighted-average outstanding shares used for calculating basic EPS	464,502	466,868	466,519
Dilutive effect of share-based awards	2,906	2,419	2,851
Weighted-average outstanding shares used for calculating diluted EPS	467,408	469,287	469,370

Share Repurchase Program:During 2013, we purchased 13.2 million shares of our common stock in the open market, compared with 1.9 million shares in 2012 and 6.0 million shares in 2011.

In November 2013, our board of directors authorized the purchase of an additional 40 million shares of our common stock. As of December 31, 2013, a remaining balance of 49.2 millionshares of our common stock was available for purchase under share repurchase authorizations by our board of directors.

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.

Reclassifications from Accumulated Other Comprehensive Income

The table below is a reconciliation of accumulated other comprehensive income by component for the year ended December 31.

Changes in Accumulated Other Comprehensive Income

2013
(In millions)	Unrealized Foreign Currency Translation Gains (Losses)				Unrealized Gains (Losses) on Investment Securities				Unrealized Gains (Losses) on Derivatives				Pension Liability Adjustment				Total
Balance, beginning of period		$	333			$	2,570			$	(5	)		$	(183	)		$	2,715
Other comprehensive income before reclassification		(1,833		)		(1,499		)		(7		)		92				(3,247		)
Amounts reclassified from accumulated other comprehensive income		(5		)		(36		)		0				10				(31		)
Net current-period other comprehensive income		(1,838		)		(1,535		)		(7		)		102				(3,278		)
Balance, end of period		$	(1,505	)		$	1,035			$	(12	)		$	(81	)		$	(563	)

All amounts in the table above are net of tax. Amounts in parentheses indicate debits.

The table below summarizes the amounts reclassified from each component of accumulated other comprehensive income based on source for the year ended December 31.

Reclassifications Out of Accumulated Other Comprehensive Income

(In millions)	2013
Details about Accumulated Other Comprehensive Income Components	Amount Reclassified from Accumulated Other Comprehensive Income(1)				Affected Line Item in the Statements of Earnings
Unrealized foreign currency translation gains (losses)		$	7		Sales and redemptions
		(2		)	Tax (expense) or benefit(2)
		$	5		Net of tax
Unrealized gains (losses) on available-for-sale securities		$	255		Sales and redemptions
		(199		)	Other-than-temporary impairment losses realized
		56			Total before tax
		(20		)	Tax (expense) or benefit(2)
		$	36		Net of tax
Amortization of defined benefit pension items:
Actuarial gains (losses)		$	(19	)	Acquisition and operating expenses(3)
Prior service cost		4			Acquisition and operating expenses(3)
		5			Tax (expense) or benefit(2)
		$	(10	)	Net of tax
Total reclassifications for the period		$	31		Net of tax

⁽¹⁾Amounts in parentheses indicate debits.

⁽²⁾ Based on 35% tax rate

⁽³⁾ These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see

Note 14 for additional details).