
(In thousands of shares)	2020	2019	2018
Common stock - issued:
Balance, beginning of period	1,349,309	1,347,540	1,345,762
Exercise of stock options and issuance of restricted shares	1,709	1,769	1,778
Balance, end of period	1,351,018	1,349,309	1,347,540
Treasury stock:
Balance, beginning of period	622,516	592,254	564,852
Purchases of treasury stock:
Share repurchase program	37,899	31,994	28,949
Other	542	592	392
Dispositions of treasury stock:
Shares issued to AFL Stock Plan	(2,021)	(1,610)	(1,306)
Exercise of stock options	(121)	(418)	(519)
Other	(251)	(296)	(114)
Balance, end of period	658,564	622,516	592,254
Shares outstanding, end of period	692,454	726,793	755,286

Outstanding share-based awards are excluded from the calculation of weighted-average shares used in the computation of basic 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 EPS at December 31:


(In thousands of shares)	2020	2019	2018
Weighted-average outstanding shares used for calculating basic EPS	713,702	742,414	769,588
Dilutive effect of share-based awards	2,490	4,016	5,062
Weighted-average outstanding shares used for calculating diluted EPS	716,192	746,430	774,650

Share Repurchase Program: During 2020, the Company repurchased 37.9 million shares of its common stock in the open market for $1.5 billion. The Company repurchased 32.0 million shares for $1.6 billion in 2019 and 28.9 million shares for $1.3 billion in 2018. In August 2020, the Company's board of directors authorized the purchase of an additional 100 million shares of its common stock. As of December 31, 2020, a remaining balance of 99.2 million shares of the Company's common stock was available for purchase under share repurchase authorizations by its board of directors.

Voting Rights: In accordance with the Parent Company's articles of incorporation, shares of common stock are generally entitled to one vote per share until they have been held by the same beneficial owner for a continuous period of 48 months, at which time they become entitled to 10 votes per share.


2020
(In millions)	Unrealized Foreign Currency Translation Gains (Losses)			Unrealized Gains (Losses) on Fixed Maturity 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		514			839			(1)			(30)			1,322
Amounts reclassified from accumulated other comprehensive income (loss)		0			126			0			23			149
Net current-period other comprehensive income (loss)		514			965			(1)			(7)			1,471
Balance at December 31, 2020		$	(1,109)		$	10,361		$	(34)		$	(284)		$	8,934


2019
(In millions)	Unrealized Foreign Currency Translation Gains (Losses)			Unrealized Gains (Losses) on Fixed Maturity 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		224			4,327			(9)			(76)			4,466
Amounts reclassified from accumulated other comprehensive income (loss)		0			(13)			0			11			(2)
Net current-period other comprehensive income (loss)		224			4,314			(9)			(65)			4,464
Balance at December 31, 2019		$	(1,623)		$	8,548		$	(33)		$	(277)		$	6,615


2018
(In millions)	Unrealized Foreign Currency Translation Gains (Losses)			Unrealized Gains (Losses) on Fixed Maturity Securities			Unrealized Gains (Losses) on Derivatives			Pension Liability Adjustment			Total
Balance at December 31, 2017		$	(1,750)		$	5,964		$	(23)		$	(163)		$	4,028
Cumulative effect of change in accounting principle - ASU 2016-01		0			(148)			0			0			(148)
Cumulative effect of change in accounting principle - ASU 2018-02		(325)			734			(3)			(32)			374
Balance at January 1, 2018		$	(2,075)		$	6,550		$	(26)		$	(195)		$	4,254
Other comprehensive income (loss) before reclassification		228			(2,350)			2			(30)			(2,150)
Amounts reclassified from accumulated other comprehensive income (loss)		0			34			0			13			47
Net current-period other comprehensive income (loss)		228			(2,316)			2			(17)			(2,103)
Balance at December 31, 2018		$	(1,847)		$	4,234		$	(24)		$	(212)		$	2,151

For the year ended December 31, 2018, see Note 1 for discussion of the amounts reclassified between AOCI and retained earnings upon the adoption of new accounting pronouncements.


(In millions)	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		$	(159)	Net investment gains (losses)
		33		Tax (expense) or benefit(1)
		$	(126)	Net of tax
Amortization of defined benefit pension items:
Actuarial gains (losses)		$	(32)	Acquisition and operating expenses(2)
Prior service (cost) credit		3		Acquisition and operating expenses(2)
		6		Tax (expense) or benefit(1)
		$	(23)	Net of tax
Total reclassifications for the period		$	(149)	Net of tax


(In millions)	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		$	18	Net investment gains (losses)
		(5)		Tax (expense) or benefit(1)
		$	13	Net of tax
Amortization of defined benefit pension items:
Actuarial gains (losses)		$	(15)	Acquisition and operating expenses(2)
Prior service (cost) credit		0		Acquisition and operating expenses(2)
		4		Tax (expense) or benefit(1)
		$	(11)	Net of tax
Total reclassifications for the period		$	2	Net of tax


(In millions)	2018
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		$	(46)	Net investment gains (losses)
		12		Tax (expense) or benefit(1)
		$	(34)	Net of tax
Amortization of defined benefit pension items:
Actuarial gains (losses)		$	(18)	Acquisition and operating expenses(2)
Prior service (cost) credit		0		Acquisition and operating expenses(2)
		5		Tax (expense) or benefit(1)
		$	(13)	Net of tax
Total reclassifications for the period		$	(47)	Net of tax