See Note 1 for a discussion of the stock split that occurred in March 2018. All share and per-share amounts have been adjusted to reflect the stock split for any of the periods presented.



(In thousands of shares)	2018		2017
Common stock - issued:
Balance, beginning of period	1,345,762		1,342,498
Exercise of stock options and issuance of restricted shares	1,614		2,840
Balance, end of period	1,347,376		1,345,338
Treasury stock:
Balance, beginning of period	564,852		530,877
Purchases of treasury stock:
Open market	20,443		27,796
Other	361		872
Dispositions of treasury stock:
Shares issued to AFL Stock Plan	(850	)	(1,392	)
Exercise of stock options	(430	)	(526	)
Other	(113	)	(39	)
Balance, end of period	584,263		557,588
Shares outstanding, end of period	763,113		787,750

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 for the following periods.

During the first nine months of 2018, the Company repurchased 20.4 million shares of its common stock in the open market for $923 million as part of its share repurchase program. During the first nine months of 2017, the Company repurchased 27.8 million shares of its common stock in the open market for $1.0 billion as part of its share repurchase program. In August 2017, the Company's board of directors authorized the purchase of an additional 40 million shares of its common stock, which increased to 80 million shares in February 2018 in connection with the Company's stock split scheduled for March 2018. As of September 30, 2018, a remaining balance of 77.6 million shares of the Company's common stock was available for purchase under share repurchase authorizations by its board of directors.



Three Months Ended September 30, 2018
(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		$	(1,766	)		$	4,836			$	(23	)		$	(195	)		$	2,852
Other comprehensive income (loss) before reclassification		(347		)		(569		)		(1		)		(2		)		(919		)
Amounts reclassified from accumulated other comprehensive income (loss)		0				(27		)		0				3				(24		)
Net current-period other comprehensive income (loss)		(347		)		(596		)		(1		)		1				(943		)
Balance, end of period		$	(2,113	)		$	4,240			$	(24	)		$	(194	)		$	1,909



Three Months Ended September 30, 2017
(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		$	(1,580	)		$	5,173			$	(23	)		$	(169	)		$	3,401
Other comprehensive income (loss) before reclassification		(135		)		296				0				(2		)		159
Amounts reclassified from accumulated other comprehensive income (loss)		0				(32		)		0				3				(29		)
Net current-period other comprehensive income (loss)		(135		)		264				0				1				130
Balance, end of period		$	(1,715	)		$	5,437			$	(23	)		$	(168	)		$	3,531



Nine Months Ended September 30, 2018
(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		$	(1,750	)		$	5,964			$	(23	)		$	(163	)		$	4,028
Cumulative effect of change in accounting principle - financial instruments		0				(148		)		0				0				(148		)
Cumulative effect of change in accounting principle - tax effects from tax reform		(325		)		734				(3		)		(32		)		374
Other comprehensive income (loss) before reclassification		(38		)		(2,302		)		2				(7		)		(2,345		)
Amounts reclassified from accumulated other comprehensive income (loss)		0				(8		)		0				8				0
Net current-period other comprehensive income (loss)		(38		)		(2,310		)		2				1				(2,345		)
Balance, end of period		$	(2,113	)		$	4,240			$	(24	)		$	(194	)		$	1,909



Nine Months Ended September 30, 2017
(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		$	(1,983	)		$	4,805			$	(24	)		$	(168	)		$	2,630
Other comprehensive income (loss) before reclassification		268				653				1				(8		)		914
Amounts reclassified from accumulated other comprehensive income (loss)		0				(21		)		0				8				(13		)
Net current-period other comprehensive income (loss)		268				632				1				0				901
Balance, end of period		$	(1,715	)		$	5,437			$	(23	)		$	(168	)		$	3,531

For the nine-month period ended September 30, 2018, see Note 1 for discussion of the amounts reclassified between AOCI and retained earnings upon the adoption of new accounting pronouncements.



(In millions)	Three Months Ended September 30, 2018
Details about Accumulated Other Comprehensive Income Components	Amount Reclassified from Accumulated Other Comprehensive Income				Affected Line Item in the Statements of Earnings
Unrealized gains (losses) on available-for-sale securities		$	0		Other-than-temporary impairment losses realized
		37			Other gains (losses)
		37			Total before tax
		(10		)	Tax (expense) or benefit⁽¹⁾
		$	27		Net of tax
Amortization of defined benefit pension items:
Actuarial gains (losses)		$	(5	)	Acquisition and operating expenses⁽²⁾
Prior service (cost) credit		0			Acquisition and operating expenses⁽²⁾
		2			Tax (expense) or benefit⁽¹⁾
		$	(3	)	Net of tax
Total reclassifications for the period		$	24		Net of tax



(In millions)	Three Months Ended September 30, 2017
Details about Accumulated Other Comprehensive Income Components	Amount Reclassified from Accumulated Other Comprehensive Income				Affected Line Item in the Statements of Earnings
Unrealized gains (losses) on available-for-sale securities		$	(6	)	Other-than-temporary impairment losses realized
		56			Other gains (losses)
		50			Total before tax
		(18		)	Tax (expense) or benefit⁽¹⁾
		$	32		Net of tax
Amortization of defined benefit pension items:
Actuarial gains (losses)		$	(4	)	Acquisition and operating expenses⁽²⁾
Prior service (cost) credit		0			Acquisition and operating expenses⁽²⁾
		1			Tax (expense) or benefit⁽¹⁾
		$	(3	)	Net of tax
Total reclassifications for the period		$	29		Net of tax



(In millions)	Nine Months Ended September 30, 2018
Details about Accumulated Other Comprehensive Income Components	Amount Reclassified from Accumulated Other Comprehensive Income				Affected Line Item in the Statements of Earnings
Unrealized gains (losses) on available-for-sale securities		$	(2	)	Other-than-temporary impairment losses realized
		13			Other gains (losses)
		11			Total before tax
		(3		)	Tax (expense) or benefit⁽¹⁾
		$	8		Net of tax
Amortization of defined benefit pension items:
Actuarial gains (losses)		$	(13	)	Acquisition and operating expenses⁽²⁾
Prior service (cost) credit		0			Acquisition and operating expenses⁽²⁾
		5			Tax (expense) or benefit⁽¹⁾
		$	(8	)	Net of tax
Total reclassifications for the period		$	0		Net of tax



(In millions)	Nine Months Ended September 30, 2017
Details about Accumulated Other Comprehensive Income Components	Amount Reclassified from Accumulated Other Comprehensive Income				Affected Line Item in the Statements of Earnings
Unrealized gains (losses) on available-for-sale securities		$	(23	)	Other-than-temporary impairment losses realized
		56			Other gains (losses)
		33			Total before tax
		(12		)	Tax (expense) or benefit⁽¹⁾
		$	21		Net of tax
Amortization of defined benefit pension items:
Actuarial gains (losses)		$	(12	)	Acquisition and operating expenses⁽²⁾
Prior service (cost) credit		0			Acquisition and operating expenses⁽²⁾
		4			Tax (expense) or benefit⁽¹⁾
		$	(8	)	Net of tax
Total reclassifications for the period		$	13		Net of tax