BUSINESS SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Reconciliation of Revenue from Segments to Consolidated

Information regarding operations by reportable segment and Corporate and other, follows:

	Three Months Ended March 31,
(In millions)	2019		2018
Revenues:
Aflac Japan:
Net earned premiums	$	3,180	$	3,263
Net investment income, less amortized hedge costs	610		588
Other income	12		12
Total Aflac Japan	3,802		3,863
Aflac U.S.:
Net earned premiums	1,461		1,427
Net investment income	177		175
Other income	2		2
Total Aflac U.S.	1,640		1,604
Corporate and other	95		79
Total adjusted revenues	5,537		5,546
Realized investment gains (losses) (1),(2),(3)	120		(82		)
Total revenues	$	5,657	$	5,464

⁽¹⁾ Amortized hedge costs of $62 and $55 for the three-month periods ended March 31, 2019, and 2018, respectively, related to certain foreign currency exposure management strategies have been reclassified from realized investment gains (losses) and reported as a deduction from net investment income when analyzing operations.

⁽²⁾ Amortized hedge income of $20 and $2 for the three-month periods ended March 31, 2019, and 2018, respectively, related to certain foreign currency exposure management strategies has been reclassified from realized investment gains (losses) and reported as an increase to net investment income when analyzing operations.

⁽³⁾ Net interest cash flows from derivatives associated with certain investment strategies of $(7) for the three-month period ended March 31, 2019 and an immaterial amount in 2018, respectively, have been reclassified from realized investment gains (losses) and included in adjusted earnings as a component of net investment income.

Reconciliation of Adjusted Profit (Loss) from Segments to Consolidated

	Three Months Ended March 31,
(In millions)	2019			2018
Pretax earnings:
Aflac Japan	$	834		$	818
Aflac U.S.	323			337
Corporate and other	(18		)	(46		)
Pretax adjusted earnings	1,139			1,109
Realized investment gains (losses) (1),(2),(3),(4)	103			(98		)
Other income (loss)	0			(29		)
Total earnings before income taxes	$	1,242		$	982
Income taxes applicable to pretax adjusted earnings	$	291		$	289
Effect of foreign currency translation on after-tax adjusted earnings	(8		)	21

⁽¹⁾ Amortized hedge costs of $62 and $55 for the three-month periods ended March 31, 2019, and 2018, respectively, related to certain foreign currency management strategies have been reclassified from realized investment gains (losses) and reported as a deduction from pretax adjusted earnings when analyzing operations.

⁽²⁾ Amortized hedge income of $20 and $2 for the three-month periods ended March 31, 2019, and 2018, respectively, related to certain foreign currency management strategies has been reclassified from realized investment gains (losses) and reported as an increase in pretax adjusted earnings when analyzing operations.

⁽³⁾ Net interest cash flows from derivatives associated with certain investment strategies of $(7) for the three-month period ended March 31, 2019 and an immaterial amount in 2018, respectively, have been reclassified from realized investment gains (losses) and included in adjusted earnings as a component of net investment income.

⁽⁴⁾ A gain of $17 and $17 for the three-month periods ended March 31, 2019, and 2018, respectively, related to the interest rate component of the change in fair value of foreign currency swaps on notes payable have been reclassified from realized investment gains (losses) and included in adjusted earnings when analyzing operations

Reconciliation of Assets from Segment to Consolidated

Assets were as follows:

(In millions)	March 31, 2019			December 31, 2018
Assets:
Aflac Japan		$	123,042		$	118,342
Aflac U.S.		19,965			19,100
Corporate and other		2,672			2,964
Total assets		$	145,679		$	140,406