BUSINESS SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2017

Segment Reporting [Abstract]

Reconciliation of Revenue from Segments to Consolidated

	Three Months Ended March 31,
(In millions)	2017			2016
Revenues:
Aflac Japan:
Net earned premiums	$	3,194		$	3,179
Net investment income, less amortized hedge costs (1)	557			590
Other income	10			8
Total Aflac Japan	3,761			3,777
Aflac U.S.:
Net earned premiums	1,390			1,367
Net investment income	178			174
Other income	1			3
Total Aflac U.S.	1,569			1,544
Other business segments	67			65
Total business segment revenues	5,397			5,386
Realized investment gains (losses) (1), (2), (3)	(109		)	40
Corporate	87			67
Intercompany eliminations and other	(66		)	(42		)
Total revenues	$	5,309		$	5,451

⁽¹⁾ Hedge costs related to hedging U.S. dollar-denominated investments held in Aflac Japan were $52 and $32 for the three-month periods ended March 31, 2017, and 2016, respectively, and have been reclassified from realized investment gains (losses) and reported as a deduction from net investment income when analyzing segment operations to conform to current year reporting.

⁽²⁾ Excluding a gain of $21 and $22 for the three-month periods ended March 31, 2017, and 2016, 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

⁽³⁾Prior year foreign currency transaction gains and losses have been reclassified from other non-operating income (loss) to realized investment gains (losses) to conform to current-year reporting classifications. These reclassifications had no impact on total revenues.

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

	Three Months Ended March 31,
(In millions)	2017			2016
Pretax earnings:
Aflac Japan (1)	$	769		$	806
Aflac U.S.	310			332
Other business segments	0			3
Total business segment pretax operating earnings	1,079			1,141
Interest expense, noninsurance operations	(29		)	(29		)
Corporate and eliminations	(23		)	(35		)
Pretax operating earnings	1,027			1,077
Realized investment gains (losses) (1), (2), (3)	(109		)	40
Other non-operating income (loss) (3)	(20		)	0
Total earnings before income taxes	$	898		$	1,117
Income taxes applicable to pretax operating earnings	$	351		$	372
Effect of foreign currency translation on after-tax operating earnings	5			13

⁽¹⁾ Hedge costs related to hedging U.S. dollar-denominated investments held in Aflac Japan were $52 and $32 for the three-month periods ended March 31, 2017, and 2016, respectively, and have been reclassified from realized investment gains (losses) and reported as a deduction from pretax operating earnings when analyzing segment operations to conform to current year reporting.

⁽²⁾ Excluding a gain of $21 and $22 for the three-month periods ended March 31, 2017, and 2016, 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

⁽³⁾Prior year foreign currency transaction gains and losses have been reclassified from other non-operating income (loss) to realized investment gains (losses) to conform to current-year reporting classifications. These reclassifications had no impact on total earnings before income taxes.

Reconciliation of Assets from Segment to Consolidated

Assets were as follows:

(In millions)	March 31, 2017				December 31, 2016
Assets:
Aflac Japan		$	112,023			$	107,858
Aflac U.S.		19,817				19,453
Other business segments		338				270
Total business segment assets		132,178				127,581
Corporate		26,024				26,476
Intercompany eliminations		(24,552		)		(24,238		)
Total assets		$	133,650			$	129,819