XML 41 R29.htm IDEA: XBRL DOCUMENT v3.19.2
SHAREHOLDERS' EQUITY (Tables)
 6 Months Ended
Jun. 30, 2019
Stockholders' Equity Note [Abstract]  
Schedule of Common Stock Outstanding Roll Forward

The following table is a reconciliation of the number of shares of the Company's common stock for the six-month periods ended June 30.
(In thousands of shares)
2019
 
2018
Common stock - issued:
 
 
 
Balance, beginning of period
1,347,540

 
1,345,762

Exercise of stock options and issuance of restricted shares
1,504

 
1,299

Balance, end of period
1,349,044

 
1,347,061

Treasury stock:
 
 
 
Balance, beginning of period
592,254

 
564,852

Purchases of treasury stock:
 
 
 
Share repurchase program
17,179

 
13,441

Other
574

 
328

Dispositions of treasury stock:
 
 
 
Shares issued to AFL Stock Plan
(836
)
 
(400
)
Exercise of stock options
(305
)
 
(327
)
Other
(287
)
 
(105
)
Balance, end of period
608,579

 
577,789

Shares outstanding, end of period
740,465

 
769,272
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share 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.
 
Three Months Ended
June 30,
Six Months Ended
June 30,
 
(In thousands)
2019
 
2018
2019
 
2018
Anti-dilutive share-based awards
 
1

 
 
 
48

 
 
12

 
 
 
28

 
Schedule of Accumulated Other Comprehensive Income (Loss)
The tables below are reconciliations of accumulated other comprehensive income by component for the following periods.

Changes in Accumulated Other Comprehensive Income
Three Months Ended
June 30, 2019
(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
 
$
(1,848
)
 
 
 
$
6,561

 
 
 
$
(26
)
 
 
 
$
(206
)
 
 
 
$
4,481

 
Other comprehensive
income (loss) before
reclassification
 
393

 
 
 
1,512

 
 
 
(1
)
 
 
 
(5
)
 
 
 
1,899

 
Amounts reclassified from
accumulated other
comprehensive income
(loss)
 
0

 
 
 
(18
)
 
 
 
0

 
 
 
2

 
 
 
(16
)
 
Net current-period other
comprehensive
income (loss)
 
393

 
 
 
1,494

 
 
 
(1
)
 
 
 
(3
)
 
 
 
1,883

 
Balance, end of period
 
$
(1,455
)
 
 
 
$
8,055

 
 
 
$
(27
)
 
 
 
$
(209
)
 
 
 
$
6,364

 

All amounts in the table above are net of tax.

Three Months Ended
June 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
 
$
(1,303
)
 
 
 
$
5,206

 
 
 
$
(21
)
 
 
 
$
(197
)
 
 
 
$
3,685

 
Other comprehensive
income (loss) before
reclassification
 
(463
)
 
 
 
(391
)
 
 
 
(2
)
 
 
 
(1
)
 
 
 
(857
)
 
Amounts reclassified from
accumulated other
comprehensive income
(loss)
 
0

 
 
 
21

 
 
 
0

 
 
 
3

 
 
 
24

 
Net current-period other
comprehensive
income (loss)
 
(463
)
 
 
 
(370
)
 
 
 
(2
)
 
 
 
2

 
 
 
(833
)
 
Balance, end of period
 
$
(1,766
)
 
 
 
$
4,836

 
 
 
$
(23
)
 
 
 
$
(195
)
 
 
 
$
2,852

 
All amounts in the table above are net of tax.

Six Months Ended
June 30, 2019
(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
 
$
(1,847
)
 
 
 
$
4,234

 
 
 
$
(24
)
 
 
 
$
(212
)
 
 
 
$
2,151

 
Other comprehensive
income (loss) before
reclassification
 
392

 
 
 
3,853

 
 
 
(3
)
 
 
 
(2
)
 
 
 
4,240

 
Amounts reclassified from
accumulated other
comprehensive income
(loss)
 
0

 
 
 
(32
)
 
 
 
0

 
 
 
5

 
 
 
(27
)
 
Net current-period other
comprehensive
income (loss)
 
392

 
 
 
3,821

 
 
 
(3
)
 
 
 
3

 
 
 
4,213

 
Balance, end of period
 
$
(1,455
)
 
 
 
$
8,055

 
 
 
$
(27
)
 
 
 
$
(209
)
 
 
 
$
6,364

 

All amounts in the table above are net of tax.

Six Months Ended
June 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
 
309

 
 
 
(1,733
)
 
 
 
3

 
 
 
(5
)
 
 
 
(1,426
)
 
Amounts reclassified from
accumulated other
comprehensive income
(loss)
 
0

 
 
 
19

 
 
 
0

 
 
 
5

 
 
 
24

 
Net current-period other
comprehensive
income (loss)
 
309

 
 
 
(1,714
)
 
 
 
3

 
 
 
0

 
 
 
(1,402
)
 
Balance, end of period
 
$
(1,766
)
 
 
 
$
4,836

 
 
 
$
(23
)
 
 
 
$
(195
)
 
 
 
$
2,852

 

All amounts in the table above are net of tax.
Reclassification Out Of Accumulated Other Comprehensive Income
The tables below summarize the amounts reclassified from each component of accumulated other comprehensive income into net earnings for the following periods.

Reclassifications Out of Accumulated Other Comprehensive Income
(In millions)
Three Months Ended
June 30, 2019
 
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
 
 
25

 
Other gains (losses)
 
 
25

 
Total before tax
 
 
(7
)
 
Tax (expense) or benefit(1)
 
 
$
18

 
Net of tax
Amortization of defined benefit pension items:
 
 
 
 
       Actuarial gains (losses)
 
$
(3
)
 
Acquisition and operating expenses(2)
       Prior service (cost) credit
 
0

 
Acquisition and operating expenses(2)
 
 
1

 
Tax (expense) or benefit(1)
 
 
$
(2
)
 
Net of tax
Total reclassifications for the period
 
$
16

 
Net of tax

(1) Based on 26% blended tax rate
(2)These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 11 for additional details).

(In millions)
Three Months Ended
June 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
 
 
(26
)
 
Other gains (losses)
 
 
(28
)
 
Total before tax
 
 
7

 
Tax (expense) or benefit(1)
 
 
$
(21
)
 
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
 
$
(24
)
 
Net of tax

(1) Based on 26% blended tax rate
(2)These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 11 for additional details).

(In millions)
Six Months Ended
June 30, 2019
 
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
 
 
43

 
Other gains (losses)
 
 
43

 
Total before tax
 
 
(11
)
 
Tax (expense) or benefit(1)
 
 
$
32

 
Net of tax
Amortization of defined benefit pension items:
 
 
 
 
       Actuarial gains (losses)
 
$
(7
)
 
Acquisition and operating expenses(2)
Prior service (cost) credit
 
0

 
Acquisition and operating expenses(2)
 
 
2

 
Tax (expense) or benefit(1)
 
 
$
(5
)
 
Net of tax
Total reclassifications for the period
 
$
27

 
Net of tax

(1) Based on 26% blended tax rate
(2) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 11 for additional details).

(In millions)
Six Months Ended
June 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
 
 
(24
)
 
Other gains (losses)
 
 
(26
)
 
Total before tax
 
 
7

 
Tax (expense) or benefit(1)
 
 
$
(19
)
 
Net of tax
Amortization of defined benefit pension items:
 
 
 
 
       Actuarial gains (losses)
 
$
(8
)
 
Acquisition and operating expenses(2)
Prior service (cost) credit
 
0

 
Acquisition and operating expenses(2)
 
 
3

 
Tax (expense) or benefit(1)
 
 
$
(5
)
 
Net of tax
Total reclassifications for the period
 
$
(24
)
 
Net of tax

(1) Based on 27% blended tax rate
(2) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 11 for additional details).