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BUSINESS SEGMENT INFORMATION (Tables)
9 Months Ended
Sep. 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
September 30,
Nine Months Ended
September 30,
(In millions)2020201920202019
Revenues:
Aflac Japan:
   Net earned premiums$3,168 $3,241 $9,476 $9,593 
   Adjusted net investment income (1),(2)
663 659 1,939 1,878 
   Other income11 12 32 34 
               Total adjusted revenue Aflac Japan3,842 3,912 11,447 11,505 
Aflac U.S.:
   Net earned premiums1,407 1,445 4,348 4,365 
   Net investment income (3)
175 183 523 540 
   Other income24 78 
           Total adjusted revenue Aflac U.S.1,606 1,630 4,949 4,911 
Corporate and other (4)
87 97 292 287 
           Total adjusted revenues5,535 5,639 16,688 16,703 
Net investment gains (losses) (1),(2),(3),(4)
130 (103)(454)
           Total revenues$5,665 $5,536 $16,234 $16,704 
(1) Amortized hedge costs of $51 and $66 for the three-month periods and $155 and $191 for the nine-month periods ended September 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 $(4) for the three-month periods and $5 and $(18) for the nine-month periods ended September 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) Net interest cash flows from derivatives associated with certain investment strategies of $1 for the three-month period and $2 for the nine-month period ended September 30, 2020, respectively, have been reclassified from net investment gains (losses) and included in adjusted earnings as a component of net investment income.
(4) Amortized hedge income of $22 and $21 for the three-month periods $78 and $61 for the nine-month periods ended September 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
September 30,
Nine Months Ended
September 30,
(In millions)2020201920202019
Pretax adjusted earnings:
Aflac Japan (1),(2)
$747 $838 $2,442 $2,504 
Aflac U.S. (3)
329 335 1,082 996 
Corporate and other (4),(5)
(39)(17)(69)(62)
    Pretax adjusted earnings (6)
1,037 1,156 3,455 3,438 
Net investment gains (losses) (1),(2),(3),(4),(5)
117 (120)(497)(49)
Other income (loss)(1)(16)(1)
    Total earnings before income taxes$1,153 $1,036 $2,942 $3,388 
Income taxes applicable to pretax adjusted earnings$43 $293 $659 $880 
Effect of foreign currency translation on after-tax
adjusted earnings
3 15 17 
(1) Amortized hedge costs of $51 and $66 for the three-month periods and $155 and $191 for the nine-month periods ended September 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 $(4) for the three-month periods and $5 and $(18) for the nine-month periods ended September 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) Net interest cash flows from derivatives associated with certain investment strategies of $1 for the three-month period and $2 for the nine-month period ended September 30, 2020, respectively, have been reclassified from net investment gains (losses) and included in adjusted earnings as a component of net investment income.
(4) Amortized hedge income of $22 and $21 for the three-month periods and $78 and $61 for the nine-month periods ended September 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.
(5) A gain of $13 and $16 for three-month periods and $43 and $50 for the nine-month periods ended September 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.
(6) Includes $44 and $34 for the three-month periods and $122 and $100 for the nine-month periods ended September 30, 2020, and 2019, respectively, of interest expense on debt.
Reconciliation of Assets from Segment to Consolidated
Assets were as follows:
(In millions)September 30,
2020
December 31,
2019
Assets:
Aflac Japan$133,995 $127,523 
Aflac U.S.22,621 20,945 
Corporate and other4,339 4,300 
    Total assets$160,955 $152,768