SHAREHOLDERS' EQUITY (Tables)

9 Months Ended

Sep. 30, 2020

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 nine-month periods ended September 30.

(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

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 September 30,				Nine Months Ended September 30,
(In thousands)	2020		2019		2020		2019
Anti-dilutive share-based awards		592		1		857		8

Changes in 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 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

All amounts in the table above are net of tax.

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

All amounts in the table above are net of tax.

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

All amounts in the table above are net of tax.

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

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 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

(1) Based on 25% blended tax rate

(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

(1) Based on 21% tax rate

(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

(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 12 for additional details).