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BUSINESS SEGMENT AND FOREIGN INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2019
Segment Reporting [Abstract]  
Reconciliation of Revenue from Segments to Consolidated Information regarding operations by reportable segment and Corporate and other for the years ended December 31 follows:
(In millions)
2019
 
2018
 
2017
Revenues:
 
 
 
 
 
 
 
 
 
 
 
Aflac Japan:
 
 
 
 
 
 
 
 
 
 
 
   Net earned premiums:
 
 
 
 
 
 
 
 
 
 
 
             Cancer
 
$
6,031

 
 
 
$
5,849

 
 
 
$
5,612

 
             Medical and other health
 
3,582

 
 
 
3,516

 
 
 
3,379

 
             Life insurance
 
3,159

 
 
 
3,397

 
 
 
3,761

 
   Net investment income, less amortized hedge costs (1),(2)
 
2,496

 
 
 
2,403

 
 
 
2,235

 
   Other income
 
45

 
 
 
41

 
 
 
41

 
               Total Aflac Japan
 
15,313

 
 
 
15,206

 
 
 
15,028

 
Aflac U.S.:
 
 
 
 
 
 
 
 
 
 
 
   Net earned premiums:
 
 
 
 
 
 
 
 
 
 
 
             Accident/disability
 
2,665

 
 
 
2,611

 
 
 
2,537

 
             Cancer
 
1,309

 
 
 
1,311

 
 
 
1,308

 
             Other health
 
1,548

 
 
 
1,508

 
 
 
1,445

 
             Life insurance
 
286

 
 
 
278

 
 
 
273

 
   Net investment income
 
720

 
 
 
727

 
 
 
721

 
   Other income
 
22

 
 
 
8

 
 
 
5

 
           Total Aflac U.S.
 
6,550

 
 
 
6,443

 
 
 
6,289

 
Corporate and other (3)
 
393

 
 
 
339

 
 
 
272

 
           Total adjusted revenues
 
22,256

 
 
 
21,988

 
 
 
21,589

 
Realized investment gains (losses) (1),(2),(3)
 
51

 
 
 
(230
)
 
 
 
78

 
           Total revenues
 
$
22,307

 
 
 
$
21,758

 
 
 
$
21,667

 

(1) Amortized hedge costs of $257, $236 and $228 in 2019, 2018 and 2017, 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) Net interest cash flows from derivatives associated with certain investment strategies of $(17) in 2019 and an immaterial amount in 2018 have been reclassified from realized investment gains (losses) and included in adjusted earnings as a component of net investment income.
(3) Amortized hedge income of $89 in 2019 and $36 in 2018 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.
Reconciliation of Adjusted Profit (Loss) from Segments to Consolidated
(In millions)
2019
 
2018
 
2017
Pretax earnings:
 
 
 
 
 
 
 
 
 
 
 
Aflac Japan (1),(2)
 
$
3,261

 
 
 
$
3,208

 
 
 
$
3,054

 
Aflac U.S.
 
1,272

 
 
 
1,285

 
 
 
1,245

 
Corporate and other (3),(4)
 
(72
)
 
 
 
(139
)
 
 
 
(212
)
 
    Pretax adjusted earnings (5)
 
4,461

 
 
 
4,354

 
 
 
4,087

 
Realized investment gains (losses) (1),(2),(3),(4)
 
(15
)
 
 
 
(297
)
 
 
 
0

 
Other income (loss) (6)
 
(1
)

 
 
(74
)
 
 
 
(69
)

    Total earnings before income taxes
 
$
4,445

 
 
 
$
3,983

 
 
 
$
4,018

 
Income taxes applicable to pretax adjusted earnings
 
$
1,147

 
 
 
$
1,129

 
 
 
$
1,370

 
Effect of foreign currency translation on after-tax
adjusted earnings
 
15

 
 
 
28

 
 
 
(41
)
 

(1) Amortized hedge costs of $257, $236 and $228 in 2019, 2018 and 2017, 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) Net interest cash flows from derivatives associated with certain investment strategies of $(17) in 2019 and an immaterial amount in 2018 have been reclassified from realized investment gains (losses) and included in adjusted earnings as a component of net investment income.
(3) Amortized hedge income of $89 in 2019 and $36 in 2018 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.
(4) A gain of $66 in 2019, $67 in 2018 and $77 in 2017, 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.
(5) Includes $135, $122 and $122 of interest expense on debt in 2019, 2018 and 2017
(6) Includes expense of $13 in 2017 for the early extinguishment of debt

Reconciliation of Assets from Segment to Consolidated
Assets as of December 31 were as follows:
(In millions)
2019
 
2018
 
Assets:
 
 
 
 
 
 
 
 
Aflac Japan
 
$
127,523

 
 
 
$
118,342

 
 
Aflac U.S.
 
20,945

 
 
 
19,100

 
 
Corporate and other
 
4,300

 
 
 
2,964

 
 
    Total assets
 
$
152,768

 
 
 
$
140,406

 
 
Foreign Currency Disclosure
Yen-Translation Effects: The following table shows the yen/dollar exchange rates used for or during the periods ended December 31. Exchange effects were calculated using the same yen/dollar exchange rate for the current year as for each respective prior year.
 
2019
 
2018
 
2017
Statements of Earnings:
 
 
 
 
 
 
 
 
 
 
 
Weighted-average yen/dollar exchange rate (1)
 
109.07

 
 
 
110.39

 
 
 
112.16

 
Yen percent strengthening (weakening)
 
1.2
%
 
 
 
1.6
%
 
 
 
(3.1
)%
 
Exchange effect on pretax adjusted earnings (in millions)
 
$
20

 
 
 
$
38

 
 
 
$
(63
)
 

 
2019
 
2018
Balance Sheets:
 
 
 
 
 
 
 
Yen/dollar exchange rate at December 31(1)
 
109.56

 
 
 
111.00

 
Yen percent strengthening (weakening)
 
1.3
%
 
 
 
1.8
%
 
Exchange effect on total assets (in millions)
 
$
1,225

 
 
 
$
1,362

 
Exchange effect on total liabilities (in millions)
 
1,533

 
 
 
1,270

 

(1) Rates are based on the published MUFG Bank, Ltd. telegraphic transfer middle rate (TTM)
Schedule of Intercompany Transfers of Funds Information on transfers for each of the years ended December 31 is shown below. See Note 13 for information concerning restrictions on transfers from Aflac Japan.
(In millions)
2019
 
2018
 
2017
Management fees
 
$
75

 
 
 
$
136

 
 
 
$
93

 
Allocated expenses
 
4

 
 
 
24

 
 
 
109

 
Profit remittances
 
2,070

 
 
 
808

 
 
 
1,150

 
Total transfers from Aflac Japan
 
$
2,149

 
 
 
$
968

 
 
 
$
1,352

 
Property, Plant and Equipment Classes of property and equipment as of December 31 were as follows:
(In millions)
2019
 
2018
Property and equipment:
 
 
 
 
 
 
 
Land
 
$
168

 
 
 
$
168

 
Buildings
 
473

 
 
 
456

 
Equipment and furniture
 
549

 
 
 
400

 
Total property and equipment
 
1,190

 
 
 
1,024

 
Less accumulated depreciation
 
609

 
 
 
581

 
Net property and equipment
 
$
581

 
 
 
$
443