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SHARE-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2018
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)
2018
 
2017
 
2016
Impact on earnings from continuing operations
 
$
57

 
 
 
$
51

 
 
 
$
68

 
Impact on earnings before income taxes
 
57

 
 
 
51

 
 
 
68

 
Impact on net earnings
 
45

 
 
 
35

 
 
 
46

 
Impact on net earnings per share:
 
 
 
 
 
 
 
 
 
 
 
Basic
 
$
.06

 
 
 
$
.05

 
 
 
$
.06

 
Diluted
 
.06

 
 
 
.05

 
 
 
.06

 
Schedule of Share-based Compensation, Stock Options, Activity The following table summarizes stock option activity under the employee stock option plan.
(In thousands of shares)
Stock
Option
Shares
 
Weighted-Average
Exercise Price
Per Share
Outstanding at December 31, 2015
 
15,836

 
 
 
$
25.47

 
Granted in 2016
 
1,328

 
 
 
30.70

 
Canceled in 2016
 
(362
)
 
 
 
27.82

 
Exercised in 2016
 
(4,122
)
 
 
 
24.46

 
Outstanding at December 31, 2016
 
12,680

 
 
 
26.28

 
Granted in 2017
 
626

 
 
 
35.80

 
Canceled in 2017
 
(236
)
 
 
 
24.95

 
Exercised in 2017
 
(5,766
)
 
 
 
30.11

 
Outstanding at December 31, 2017
 
7,304

 
 
 
28.03

 
Granted in 2018
 
67

 
 
 
44.59

 
Canceled in 2018
 
(167
)
 
 
 
32.11

 
Exercised in 2018
 
(1,874
)
 
 
 
26.78

 
Outstanding at December 31, 2018
 
5,330

 
 
 
$
28.54

 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable
(In thousands of shares)
2018
 
2017
 
2016
Shares exercisable, end of year
 
3,917

 
 
 
4,208

 
 
 
8,986

 
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.
 
2018
 
2017
 
2016
Expected term (years)
 
7.0
 
 
 
5.9
 
 
 
6.4
 
Expected volatility
 
22.0
%
 
 
26.0
%
 
 
27.0
%
Annual forfeiture rate
 
3.6
 
 
 
3.4
 
 
 
3.2
 
Risk-free interest rate
 
2.5
 
 
 
2.5
 
 
 
2.2
 
Dividend yield
 
2.4
 
 
 
2.5
 
 
 
2.9
 
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, 2018.
(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
 
$
11.07

-
$
24.28

 
 
 
1,181

 
 
 
1.8
 
 
 
$
20.76

 
 
 
1,181

 
 
 
$
20.76

 
 
24.75

-
28.97

 
 
 
1,718

 
 
 
4.8
 
 
 
27.76

 
 
 
1,026

 
 
 
26.95

 
 
29.04

-
31.21

 
 
 
1,226

 
 
 
5.8
 
 
 
30.77

 
 
 
1,221

 
 
 
30.77

 
 
31.22

-
37.22

 
 
 
1,134

 
 
 
7.5
 
 
 
34.44

 
 
 
488

 
 
 
33.86

 
 
38.76

-
44.59

 
 
 
71

 
 
 
9.3
 
 
 
44.21

 
 
 
1

 
 
 
38.76

 
 
$
11.07

-
$
44.59

 
 
 
5,330

 
 
 
5.0
 
 
 
$
28.54

 
 
 
3,917

 
 
 
$
27.14

 
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)
2018
 
2017
 
2016
Total intrinsic value of options exercised
 
$
34

 
 
 
$
87

 
 
 
$
41

 
Cash received from options exercised
 
48

 
 
 
58

 
 
 
68

 
Tax benefit realized as a result of options exercised and
restricted stock releases
 
25

 
 
 
74

 
 
 
45

 
Schedule of Share-based Payment Award, Performance Based Restricted Stock, Valuation Assumptions Key assumptions used to value PBRS granted during 2018 follows:
(In millions)
2018
 
Expected volatility (based on Aflac Inc. and peer group historical daily stock price)
 
16.48
%
 
 
Expected life from grant date (years)
 
2.9

 
 
Risk-free interest rate (based on U.S. Treasury yields at the date of grant)
 
2.29
%
 
 
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, 2015
 
3,630

 
 
 
$
29.21

 
Granted in 2016
 
1,756

 
 
 
30.84

 
Canceled in 2016
 
(152
)
 
 
 
30.33

 
Vested in 2016
 
(1,498
)
 
 
 
26.84

 
Restricted stock at December 31, 2016
 
3,736

 
 
 
30.88

 
Granted in 2017
 
1,118

 
 
 
36.48

 
Canceled in 2017
 
(202
)
 
 
 
32.23

 
Vested in 2017
 
(1,018
)
 
 
 
31.09

 
Restricted stock at December 31, 2017
 
3,634

 
 
 
32.40

 
Granted in 2018
 
1,121

 
 
 
44.27

 
Canceled in 2018
 
(105
)
 
 
 
34.39

 
Vested in 2018
 
(1,243
)
 
 
 
31.64

 
Restricted stock at December 31, 2018
 
3,407

 
 
 
$
36.52