
(In thousands of shares)	2020	2019
Common stock - issued:
Balance, beginning of period	1,349,309	1,347,540
Exercise of stock options and issuance of restricted shares	1,546	1,650
Balance, end of period	1,350,855	1,349,190
Treasury stock:
Balance, beginning of period	622,516	592,254
Purchases of treasury stock:
Share repurchase program	26,108	23,126
Other	541	589
Dispositions of treasury stock:
Shares issued to AFL Stock Plan	(1,584)	(1,232)
Exercise of stock options	(49)	(382)
Other	(251)	(295)
Balance, end of period	647,281	614,060
Shares outstanding, end of period	703,574	735,130

Outstanding share-based awards are excluded from the calculation of weighted-average shares used in the computation of basic earnings per share (EPS). 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.

During the first nine months of 2020, the Company repurchased 26.1 million shares of its common stock for $1.0 billion as part of its share repurchase program. During the first nine months of 2019, the Company repurchased 23.1 million shares of its common stock for $1.2 billion as part of its share repurchase program. In August 2020, the Company's board of directors authorized the purchase of an additional 100 million shares of its common stock. As of September 30, 2020, a remaining balance of 110.9 million shares of the Company's common stock was available for purchase under share repurchase authorizations by its board of directors.


Three Months Ended September 30, 2020
(In millions)	Unrealized Foreign Currency Translation Gains (Losses)			Unrealized Gains (Losses) on Investment Securities			Unrealized Gains (Losses) on Derivatives			Pension Liability Adjustment			Total
Balance at June 30, 2020		$	(1,469)		$	8,532		$	(36)		$	(277)		$	6,750
Other comprehensive income (loss) before reclassification		179			995			1			(5)			1,170
Amounts reclassified from accumulated other comprehensive income (loss)		0			(7)			0			4			(3)
Net current-period other comprehensive income (loss)		179			988			1			(1)			1,167
Balance at September 30, 2020		$	(1,290)		$	9,520		$	(35)		$	(278)		$	7,917


Three Months Ended September 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 at June 30, 2019		$	(1,455)		$	8,055		$	(27)		$	(209)		$	6,364
Other comprehensive income (loss) before reclassification		(24)			884			(6)			(2)			852
Amounts reclassified from accumulated other comprehensive income (loss)		0			31			0			4			35
Net current-period other comprehensive income (loss)		(24)			915			(6)			2			887
Balance at September 30, 2019		$	(1,479)		$	8,970		$	(33)		$	(207)		$	7,251


Nine Months Ended September 30, 2020
(In millions)	Unrealized Foreign Currency Translation Gains (Losses)			Unrealized Gains (Losses) on Investment Securities			Unrealized Gains (Losses) on Derivatives			Pension Liability Adjustment			Total
Balance at December 31, 2019		$	(1,623)		$	8,548		$	(33)		$	(277)		$	6,615
Cumulative effect of change in accounting principle - ASU 2019-04		0			848			0			0			848
Balance at January 1, 2020		$	(1,623)		$	9,396		$	(33)		$	(277)		$	7,463
Other comprehensive income (loss) before reclassification		333			20			(2)			(18)			333
Amounts reclassified from accumulated other comprehensive income (loss)		0			104			0			17			121
Net current-period other comprehensive income (loss)		333			124			(2)			(1)			454
Balance at September 30, 2020		$	(1,290)		$	9,520		$	(35)		$	(278)		$	7,917


Nine Months Ended September 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 at December 31, 2018		$	(1,847)		$	4,234		$	(24)		$	(212)		$	2,151


Other comprehensive income (loss) before reclassification		368			4,737			(9)			(4)			5,092
Amounts reclassified from accumulated other comprehensive income (loss)		0			(1)			0			9			8
Net current-period other comprehensive income (loss)		368			4,736			(9)			5			5,100
Balance at September 30, 2019		$	(1,479)		$	8,970		$	(33)		$	(207)		$	7,251

The tables below summarize the amounts reclassified from each component of accumulated other comprehensive income into net earnings for the following periods.


(In millions)	Three Months Ended September 30, 2020
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		$	13	Net investment gains (losses)
		(6)		Tax (expense) or benefit(1)
		$	7	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)
		3		Tax (expense) or benefit(1)
		$	(4)	Net of tax
Total reclassifications for the period		$	3	Net of tax

(1) Based on 21% tax rate, with a cumulative adjustment to the first six months of 2020 due to the effects of Final and Proposed Regulations released on September 29, 2020. See Note 9 of the Notes to the Consolidated Financial Statements.

(2) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 12 for additional details).


(In millions)	Three Months Ended September 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		$	(41)	Net investment gains (losses)
		10		Tax (expense) or benefit(1)
		$	(31)	Net of tax
Amortization of defined benefit pension items:
Actuarial gains (losses)		$	(5)	Acquisition and operating expenses(2)
Prior service (cost) credit		0		Acquisition and operating expenses(2)
		1		Tax (expense) or benefit(1)
		$	(4)	Net of tax
Total reclassifications for the period		$	(35)	Net of tax

(2) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 12 for additional details).


(In millions)	Nine Months Ended September 30, 2020
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		$	(132)	Net investment gains (losses)
		28		Tax (expense) or benefit(1)
		$	(104)	Net of tax
Amortization of defined benefit pension items:
Actuarial gains (losses)		$	(22)	Acquisition and operating expenses(2)
Prior service (cost) credit		0		Acquisition and operating expenses(2)
		5		Tax (expense) or benefit(1)
		$	(17)	Net of tax
Total reclassifications for the period		$	(121)	Net of tax

(2) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 12 for additional details).


(In millions)	Nine Months Ended September 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		$	1	Net investment gains (losses)
		0		Tax (expense) or benefit(1)
		$	1	Net of tax
Amortization of defined benefit pension items:
Actuarial gains (losses)		$	(12)	Acquisition and operating expenses(2)
Prior service (cost) credit		0		Acquisition and operating expenses(2)
		3		Tax (expense) or benefit(1)
		$	(9)	Net of tax
Total reclassifications for the period		$	(8)	Net of tax

(2) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 12 for additional details).