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BUSINESS SEGMENT AND FOREIGN INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2016
Segment Reporting [Abstract]  
Reconciliation of Revenue from Segments to Consolidated
Information regarding operations by segment for the years ended December 31 follows:
(In millions)
2016
 
2015
 
2014
Revenues:
 
 
 
 
 
 
 
 
 
 
 
Aflac Japan:
 
 
 
 
 
 
 
 
 
 
 
   Net earned premiums
 
 
 
 
 
 
 
 
 
 
 
             Cancer
 
$
5,639

 
 
 
$
4,933

 
 
 
$
5,596

 
             Medical and other health
 
3,429

 
 
 
3,092

 
 
 
3,770

 
             Life insurance
 
4,469

 
 
 
4,021

 
 
 
4,495

 
   Net investment income
 
2,554

 
 
 
2,436

 
 
 
2,662

 
   Other income
 
40

 
 
 
31

 
 
 
32

 
               Total Aflac Japan
 
16,131

 
 
 
14,513

 
 
 
16,555

 
Aflac U.S.:
 
 
 
 
 
 
 
 
 
 
 
   Net earned premiums:
 
 
 
 
 
 
 
 
 
 
 
             Accident/disability
 
2,469

 
 
 
2,391

 
 
 
2,303

 
             Cancer
 
1,299

 
 
 
1,293

 
 
 
1,279

 
             Other health
 
1,415

 
 
 
1,395

 
 
 
1,371

 
             Life insurance
 
271

 
 
 
268

 
 
 
258

 
   Net investment income
 
703

 
 
 
678

 
 
 
645

 
   Other income
 
10

 
 
 
8

 
 
 
3

 
               Total Aflac U.S.
 
6,167

 
 
 
6,033

 
 
 
5,859

 
Other business segments
 
275

 
 
 
225

 
 
 
43

 
               Total business segment revenues
 
22,573

 
 
 
20,771

 
 
 
22,457

 
Realized investment gains (losses) (1)
 
(208
)
 
 
 
55

 
 
 
171

 
Corporate
 
284

 
 
 
282

 
 
 
281

 
Intercompany eliminations
 
(199
)
 
 
 
(201
)
 
 
 
(248
)
 
Other non-operating income (loss)
 
109

 
 
 
(35
)
(2) 
 
 
67

 
           Total revenues
 
$
22,559

 
 
 
$
20,872

 
 
 
$
22,728

 

(1) Excluding a gain of $85 in both 2016 and 2015 and $44 in 2014 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
(2) Includes a loss of $20 related to the change in value of yen repatriation received in advance of settlement of certain foreign currency derivatives. The loss was offset by derivative gains included in realized investment gains (losses).
Reconciliation of Operating Profit (Loss) from Segments to Consolidated
(In millions)
2016
 
2015
 
2014
Pretax earnings:
 
 
 
 
 
 
 
 
 
 
 
Aflac Japan
 
$
3,334

 
 
 
$
3,175

 
 
 
$
3,458

 
Aflac U.S.
 
1,208

 
 
 
1,101

 
 
 
1,073

 
Other business segments
 
18

 
 
 
14

 
 
 
(2
)
 
    Total business segment pretax operating earnings
 
4,560

 
 
 
4,290

 
 
 
4,529

 
Interest expense, noninsurance operations
 
(128
)
 
 
 
(146
)
 
 
 
(198
)
 
Corporate and eliminations
 
(129
)
 
 
 
(71
)
 
 
 
(78
)
 
    Pretax operating earnings
 
4,303

 
 
 
4,073

 
 
 
4,253

 
Realized investment gains (losses) (1)
 
(208
)
 
 
 
55

 
 
 
171

 
Other non-operating income (loss)
 
(28
)
(3) 
 
 
(266
)
(2),(3) 
 
 
67

 
    Total earnings before income taxes
 
$
4,067

 
 
 
$
3,862

 
 
 
$
4,491

 
Income taxes applicable to pretax operating earnings
 
$
1,491

 
 
 
$
1,403

 
 
 
$
1,456

 
Effect of foreign currency translation on after-tax operating
earnings
 
141

 
 
 
(198
)
 
 
 
(117
)
 

(1) Excluding a gain of $85 in both 2016 and 2015 and $44 in 2014 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
(2) Includes a loss of $20 related to the change in value of yen repatriation received in advance of settlement of certain foreign currency derivatives. This loss was offset by derivative gains included in realized investment gains (losses).
(3) Includes expense of $137 in 2016 and $230 in 2015 for the payments associated with the early extinguishment of debt

Reconciliation of Assets from Segment to Consolidated
Assets as of December 31 were as follows:
(In millions)
2016
 
2015
 
2014
Assets:
 
 
 
 
 
 
 
 
 
 
 
Aflac Japan
 
$
107,858

 
 
 
$
97,646

 
 
 
$
98,525

 
Aflac U.S.
 
19,453

 
 
 
18,537

 
 
 
18,383

 
Other business segments
 
270

 
 
 
188

 
 
 
128

 
    Total business segment assets
 
127,581

 
 
 
116,371

 
 
 
117,036

 
Corporate
 
26,476

 
 
 
23,375

 
 
 
24,596

 
Intercompany eliminations
 
(24,238
)
 
 
 
(21,490
)
 
 
 
(21,905
)
 
    Total assets
 
$
129,819

 
 
 
$
118,256

 
 
 
$
119,727

 

Prior year amounts have been adjusted for the adoption of the accounting guidance on January 1, 2016 related to debt issuance costs
Foreign Currency Disclosure
Yen-Translation Effects: The following table shows the yen/dollar exchange rates used for or during the periods ended December 31. Exchange effects were calculated using the same yen/dollar exchange rate for the current year as for each respective prior year.
 
2016
 
2015
 
2014
Statements of Earnings:
 
 
 
 
 
 
 
 
 
 
 
Weighted-average yen/dollar exchange rate
 
108.70

 
 
 
120.99

 
 
 
105.46

 
Yen percent strengthening (weakening)
 
11.3
%
 
 
 
(12.8
)%
 
 
 
(7.5
)%
 
Exchange effect on pretax operating earnings (in millions)
 
$
218

 
 
 
$
(288
)
 
 
 
$
(180
)
 

 
2016
 
2015
Balance Sheets:
 
 
 
 
 
 
 
Yen/dollar exchange rate at December 31
 
116.49

 
 
 
120.61

 
Yen percent strengthening (weakening)
 
3.54
%
 
 
 
(.05
)%
 
Exchange effect on total assets (in millions)
 
$
2,820

 
 
 
$
(36
)
 
Exchange effect on total liabilities (in millions)
 
3,109

 
 
 
(41
)
 
Schedule of Intercompany Transfers of Funds
Information on transfers for each of the years ended December 31 is shown below. See Note 13 for information concerning restrictions on transfers from Aflac Japan.
(In millions)
2016
 
2015
 
2014
Management fees
 
$
79

 
 
 
$
53

 
 
 
$
39

 
Allocated expenses
 
106

 
 
 
101

 
 
 
71

 
Profit repatriation
 
1,286

 
 
 
2,139

 
 
 
1,704

 
Total transfers from Aflac Japan
 
$
1,471

 
 
 
$
2,293

 
 
 
$
1,814

 
Property, Plant and Equipment
Classes of property and equipment as of December 31 were as follows:
(In millions)
2016
 
2015
Property and equipment:
 
 
 
 
 
 
 
Land
 
$
166

 
 
 
$
166

 
Buildings
 
421

 
 
 
400

 
Equipment and furniture
 
355

 
 
 
329

 
Total property and equipment
 
942

 
 
 
895

 
Less accumulated depreciation
 
509

 
 
 
468

 
Net property and equipment
 
$
433

 
 
 
$
427