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BUSINESS SEGMENT INFORMATION (Tables)
 6 Months Ended
Jun. 30, 2020
Segment Reporting [Abstract]  
Reconciliation of Revenue from Segments to Consolidated Information regarding operations by reportable segment and Corporate and other, follows:
  
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
(In millions)
2020
 
2019
 
2020
 
2019
 
Revenues:
 
 
 
 
 
 
 
 
Aflac Japan:
 
 
 
 
 
 
 
 
   Net earned premiums
$
3,158

 
$
3,172

 
$
6,308

 
$
6,352

 
   Adjusted net investment income (1),(2)
633

 
609

 
1,276

 
1,219

 
   Other income
12

 
11

 
22

 
22

 
               Total adjusted revenue Aflac Japan
3,803

 
3,792

 
7,606

 
7,593

 
Aflac U.S.:
 
 
 
 
 
 
 
 
   Net earned premiums
1,458

 
1,459

 
2,941

 
2,920

 
   Net investment income 
172

 
180

 
348

 
357

 
   Other income
26

 
2

 
54

 
4

 
           Total adjusted revenue Aflac U.S.
1,656

 
1,641

 
3,343

 
3,281

 
Corporate and other (3)
100

 
95

 
204

 
191

 
           Total adjusted revenues
5,559

 
5,528

 
11,153

 
11,065

 
Net investment gains (losses) (1),(2),(3)
(152
)
 
(17
)
 
(584
)
 
103

 
           Total revenues
$
5,407

 
$
5,511

 
$
10,569

 
$
11,168

 
(1) Amortized hedge costs of $50 and $62 for the three-month periods and $105 and $124 for the six-month periods ended June 30, 2020, and 2019, respectively, related to certain foreign currency exposure management strategies have been reclassified from net 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 $6 and $(7) for the three-month periods and an immaterial amount and $(14) for the six-month periods ended June 30, 2020 and 2019, respectively, have been reclassified from net investment gains (losses) and included in adjusted earnings as a component of net investment income.
(3) Amortized hedge income of $27 and $20 for the three-month periods $56 and $40 for the six-month periods ended June 30, 2020, and 2019, respectively, related to certain foreign currency exposure management strategies has been reclassified from net investment gains (losses) and reported as an increase to net investment income when analyzing operations.
Reconciliation of Adjusted Profit (Loss) from Segments to Consolidated
  
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
(In millions)
2020
 
2019
 
2020
 
2019
 
Pretax adjusted earnings:
 
 
 
 
 
 
 
 
Aflac Japan (1),(2)
$
839

 
$
831

 
$
1,694

 
$
1,666

 
Aflac U.S.
426

 
338

 
752

 
661

 
Corporate and other (3),(4)
(30
)
 
(26
)
 
(28
)
 
(45
)
 
    Pretax adjusted earnings (5)
1,235

 
1,143

 
2,418

 
2,282

 
Net investment gains (losses) (1),(2),(3),(4)
(166
)
 
(34
)
 
(614
)
 
70

 
Other income (loss)
1

 
0

 
(15
)
 
(1
)
 
    Total earnings before income taxes
$
1,070

 
$
1,109

 
$
1,789

 
$
2,351

 
Income taxes applicable to pretax adjusted earnings
$
315

 
$
297

 
$
615

 
$
587

 
Effect of foreign currency translation on after-tax
adjusted earnings
5

 
(4
)
 
14

 
(13
)
 

(1) Amortized hedge costs of $50 and $62 for the three-month periods and $105 and $124 for the six-month periods ended June 30, 2020, and 2019, respectively, related to certain foreign currency exposure management strategies have been reclassified from net 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 $6 and $(7) for the three-month periods and an immaterial amount and $(14) for the six-month periods ended June 30, 2020 and 2019, respectively, have been reclassified from net investment gains (losses) and included in adjusted earnings as a component of net investment income.
(3) Amortized hedge income of $27 and $20 for the three-month periods and $56 and $40 for the six-month periods ended June 30, 2020, and 2019, respectively, related to certain foreign currency exposure management strategies has been reclassified from net investment gains (losses) and reported as an increase in net investment income when analyzing operations.
(4) A gain of $14 and $17 for three-month periods and $30 and $33 for the six-month periods ended June 30, 2020, and 2019, respectively, related to the interest rate component of the change in fair value of foreign currency swaps on notes payable has been reclassified from net investment gains (losses) and included in adjusted earnings when analyzing operations.
(5) Includes $44 and $34 for the three-month periods and $77 and $66 for the six-month periods ended June 30, 2020, and 2019, respectively, of interest expense on debt.
Reconciliation of Assets from Segment to Consolidated
Assets were as follows:
(In millions)
June 30,
2020
 
December 31,
2019
Assets:
 
 
 
 
 
 
 
Aflac Japan
 
$
130,156

 
 
 
$
127,523

 
Aflac U.S.
 
21,776

 
 
 
20,945

 
Corporate and other
 
5,155

 
 
 
4,300

 
    Total assets
 
$
157,087

 
 
 
$
152,768