SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Expense Recognized in Connection with Share Based Awards

The following table presents the impact of the expense recognized in connection with share-based awards for the periods ended December 31.

(In millions, except for per-share amounts)	2017			2016			2015
Impact on earnings from continuing operations		$	51		$	68		$	39
Impact on earnings before income taxes		51			68			39
Impact on net earnings		35			46			27
Impact on net earnings per share:
Basic		$	.09		$	.11		$	.06
Diluted		.09			.11			.06

Schedule of Share-based Compensation, Stock Options, Activity

The following table summarizes stock option activity under the the employee stock option plan.

(In thousands of shares)	Stock Option Shares			Weighted-Average Exercise Price Per Share
Outstanding at December 31, 2014		9,307			$	48.84
Granted in 2015		855			61.47
Canceled in 2015		(231	)		55.70
Exercised in 2015		(2,013	)		45.15
Outstanding at December 31, 2015		7,918			50.94
Granted in 2016		664			61.39
Canceled in 2016		(181	)		55.63
Exercised in 2016		(2,061	)		48.91
Outstanding at December 31, 2016		6,340			52.56
Granted in 2017		313			71.60
Canceled in 2017		(118	)		49.90
Exercised in 2017		(2,883	)		60.22
Outstanding at December 31, 2017		3,652			$	56.05

Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable

(In thousands of shares)	2017		2016		2015
Shares exercisable, end of year		2,104		4,493		6,085

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The following table presents the assumptions used in valuing options granted during the years ended December 31.

	2017			2016			2015
Expected term (years)		5.9			6.4			6.3
Expected volatility		26.0	%		27.0	%		20.0	%
Annual forfeiture rate		3.4			3.2			2.8
Risk-free interest rate		2.5			2.2			2.0
Dividend yield		2.5			2.9			2.7

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range

The following table summarizes information about stock options outstanding and exercisable at December 31, 2017.

(In thousands of shares)						Options Outstanding							Options Exercisable
	Range of Exercise Prices Per Share					Stock Option Shares Outstanding		Wgtd.-Avg. Remaining Contractual Life (Yrs.)		Wgtd.-Avg. Exercise Price Per Share			Stock Option Shares Exercisable		Wgtd.-Avg. Exercise Price Per Share
	$	22.13	-	$	48.56		823		2.5		$	38.56		823		$	38.56
	49.50		-	57.93			1,034		5.5		55.64			608		54.04
	58.08		-	61.81			748		5.5		61.29			234		61.22
	61.95		-	71.04			944		7.4		65.69			439		63.06
	71.84		-	87.71			103		9.0		73.53			0		0.00
	$	22.13	-	$	87.71		3,652		5.4		$	56.05		2,104		$	50.67

Schedule of Cash Proceeds Received from Share-based Payment Awards

The following table summarizes stock option activity during the years ended December 31.

(In millions)	2017			2016			2015
Total intrinsic value of options exercised		$	87		$	41		$	36
Cash received from options exercised		58			68			68
Tax benefit realized as a result of options exercised and restricted stock releases		74			45			25

Schedule of Share-based Payment Award, Performance Based Restricted Stock, Valuation Assumptions

Key assumptions used to value PBRS granted during 2017 follows:

(In millions)	2017
Expected volatility (based on Aflac Inc. and peer group historical daily stock price)		16.59	%
Expected life from grant date (years)		2.9
Risk-free interest rate (based on U.S. Treasury yields at the date of grant)		1.56	%

Schedule of Nonvested Restricted Stock Units Activity

The value of restricted stock awards and restricted stock units is based on the fair market value of our common stock at the date of grant. The following table summarizes restricted stock activity during the years ended December 31.

(In thousands of shares)	Shares			Weighted-Average Grant-Date Fair Value Per  Share
Restricted stock at December 31, 2014		1,880			$	54.33
Granted in 2015		638			61.51
Canceled in 2015		(145	)		57.52
Vested in 2015		(558	)		48.41
Restricted stock at December 31, 2015		1,815			58.42
Granted in 2016		878			61.68
Canceled in 2016		(76	)		60.65
Vested in 2016		(749	)		53.68
Restricted stock at December 31, 2016		1,868			61.76
Granted in 2017		559			72.95
Canceled in 2017		(101	)		64.45
Vested in 2017		(509	)		62.17
Restricted stock at December 31, 2017		1,817			$	64.80