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BUSINESS SEGMENT INFORMATION
 3 Months Ended
Mar. 31, 2015
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 and business activities not included in Aflac Japan or Aflac U.S. 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 includes interest cash flows associated with notes payable and 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), nonrecurring items and other non-operating income (loss). We then exclude income taxes related to operations to arrive at pretax operating earnings. Information regarding operations by segment follows:
  
 
Three Months Ended March 31,
 
(In millions)
 
2015
 
2014
 
Revenues:
 
 
 
 
 
Aflac Japan:
 
 
 
 
 
   Net earned premiums
 
$
3,078

 
$
3,560

 
   Net investment income
 
613

 
663

 
   Other income
 
8

 
8

 
               Total Aflac Japan
 
3,699

 
4,231

 
Aflac U.S.:
 
 
 
 
 
   Net earned premiums
 
1,339

 
1,294

 
   Net investment income
 
166

 
161

 
   Other income
 
3

 
0

 
               Total Aflac U.S.
 
1,508

 
1,455

 
Other business segments
 
26

 
12

 
               Total business segment revenues
 
5,233

 
5,698

 
Realized investment gains (losses)
 
(4
)
(1) 
(56
)
(1) 
Corporate
 
97

 
78

 
Intercompany eliminations
 
(82
)
 
(71
)
 
Other non-operating income (loss)
 
(18
)
 
(9
)
 
           Total revenues
 
$
5,226

 
$
5,640

 
(1) Excluding a gain of $17 and $10 for the three-month periods ended March 31, 2015 and 2014, respectively, related to the interest rate component of the change in fair value of foreign currency swaps on notes payable which is classified as an operating gain when analyzing segment operations

  
 
Three Months Ended March 31,
 
(In millions)
 
2015
 
2014
 
Pretax earnings:
 
 
 
 
 
Aflac Japan
 
$
819

 
$
933

 
Aflac U.S.
 
285

 
303

 
Other business segments
 
1

 
0

 
    Total business segment pretax operating earnings
 
1,105

 
1,236

 
Interest expense, noninsurance operations
 
(49
)
 
(50
)
 
Corporate and eliminations
 
(21
)
 
(17
)
 
    Pretax operating earnings
 
1,035

 
1,169

 
Realized investment gains (losses)
 
(4
)
(1) 
(56
)
(1) 
Other non-operating income (loss)
 
(18
)
 
(9
)
 
    Total earnings before income taxes
 
$
1,013

 
$
1,104

 
Income taxes applicable to pretax operating earnings
 
$
357

 
$
395

 
Effect of foreign currency translation on operating earnings
 
(58
)
 
(48
)
 

(1) Excluding a gain of $17 and $10 for the three-month periods ended March 31, 2015 and 2014, respectively, related to the interest rate component of the change in fair value of foreign currency swaps on notes payable which is classified as an operating gain when analyzing segment operations


Assets were as follows:
(In millions)
March 31,
2015
 
December 31,
2014
Assets:
 
 
 
 
 
 
 
Aflac Japan
 
$
99,102

 
 
 
$
98,525

 
Aflac U.S.
 
18,770

 
 
 
18,383

 
Other business segments
 
144

 
 
 
128

 
    Total business segment assets
 
118,016

 
 
 
117,036

 
Corporate
 
25,736

 
 
 
24,636

 
Intercompany eliminations
 
(22,351
)
 
 
 
(21,905
)
 
    Total assets
 
$
121,401

 
 
 
$
119,767