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SHARE-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Expense Recognized in Connection with Share Based Awards
The following table presents the impact of the expense recognized in connection with share-based awards for the periods ended December 31.
(In millions, except for per-share amounts)202120202019
Impact on earnings from continuing operations$65 $61 $59 
Impact on earnings before income taxes65 61 59 
Impact on net earnings51 48 46 
Impact on net earnings per share:
Basic$.08 $.07 $.06 
Diluted.08 .07 .06 
Schedule of Share-based Compensation, Stock Options, Activity
The following table summarizes stock option activity under the employee stock option plan.
(In thousands of shares)Stock
Option
Shares
Weighted-Average
Exercise Price
Per Share
Outstanding at December 31, 20185,330 $28.54 
Granted in 20190.00 
Canceled in 2019(40)27.28 
Exercised in 2019(1,584)25.97 
Outstanding at December 31, 20193,706 29.65 
Granted in 202059 35.75 
Canceled in 2020(82)26.31 
Exercised in 2020(638)27.82 
Outstanding at December 31, 20203,045 30.25 
Granted in 20210 0.00 
Canceled in 2021(4)16.93 
Exercised in 2021(896)28.45 
Outstanding at December 31, 20212,145 $31.02 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable
(In thousands of shares)202120202019
Shares exercisable, end of year2,145 2,986 3,553 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions The following table presents the assumptions used in valuing options granted, if applicable, during the years ended December 31.
202120202019
Expected term (years)7.96.07.0
Expected volatility25.6 %24.4 %18.0 %
Annual forfeiture rate3.8 3.9 3.9 
Risk-free interest rate1.0 2.0 2.9 
Dividend yield3.0 3.3 2.2 
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range
The following table summarizes information about stock options outstanding and exercisable at December 31, 2021.
(In thousands of shares)Options OutstandingOptions Exercisable
Range of
Exercise Prices
Per Share
Stock Option
Shares
Outstanding
Wgtd.-Avg.
Remaining
Contractual
Life (Yrs.)
Wgtd.-Avg.
Exercise
Price
Per Share
Stock Option
Shares
Exercisable
Wgtd.-Avg.
Exercise
Price
Per Share
$0.00 -$24.75 336 0.7$24.09 336 $24.09 
24.75 -28.97 370 3.928.85 370 28.85 
28.97 -31.21 718 2.830.74 718 30.74 
31.21 -36.21 572 4.734.36 572 34.36 
36.21 -44.59 149 5.840.57 149 40.57 
$0.00 -$44.59 2,145 3.4$31.02 2,145 $31.02 
Schedule of Cash Proceeds Received from Share-based Payment Awards
The following table summarizes stock option activity during the years ended December 31.
(In millions)202120202019
Total intrinsic value of options exercised$21 $11 $38 
Cash received from options exercised26 18 40 
Tax benefit realized as a result of options exercised and
  restricted stock releases
17 18 34 
Schedule of Share-based Payment Award, Performance Based Restricted Stock, Valuation Assumptions
Key assumptions used to value PBRS granted during 2021 follows:
(In millions)2021
Expected volatility (based on Aflac Inc. and peer group historical daily stock price) 36.75 %
Expected life from grant date (years)2.9
Risk-free interest rate (based on U.S. Treasury yields at the date of grant)0.18 %
Schedule of Nonvested Restricted Stock Units Activity
The value of restricted stock awards and restricted stock units is based on the fair market value of the Company's common stock at the date of grant. The following table summarizes restricted stock activity during the years ended December 31. 
(In thousands of shares)SharesWeighted-Average
Grant-Date
Fair Value
Per  Share
Restricted stock at December 31, 20183,407 $36.52 
Granted in 2019 (1)
1,070 49.68 
Canceled in 2019 (1)
(39)41.60 
Vested in 2019 (1)
(1,723)32.50 
Restricted stock at December 31, 2019 (1)
2,715 43.74 
Granted in 20201,544 45.88 
Canceled in 2020(119)49.27 
Vested in 2020(1,560)35.23 
Restricted stock at December 31, 20202,580 48.57 
Granted in 20211,496 47.87 
Canceled in 2021(148)49.00 
Vested in 2021(1,371)45.80 
Restricted stock at December 31, 20212,557 $49.38