XML 44 R34.htm IDEA: XBRL DOCUMENT v3.22.2
BUSINESS SEGMENT INFORMATION - Operations by Segment - Revenues (Details)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
USD ($)
Jun. 30, 2021
USD ($)
Jun. 30, 2022
USD ($)
segment
Jun. 30, 2021
USD ($)
Segment Reporting, Revenue Reconciling Item [Line Items]        
Number of reportable insurance business segments | segment     2  
Net earned premiums $ 3,849 $ 4,441 $ 8,028 $ 9,034
Total adjusted revenues 4,821 5,466 9,946 11,017
Net investment gains (losses) [1],[2],[3],[4] 579 98 726 416
Total revenues 5,400 5,564 10,672 11,433
Aflac Japan        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Net earned premiums 2,419 2,987 5,143 6,111
Adjusted net investment income [1],[3] 723 792 1,402 1,497
Other income 9 10 18 22
Total adjusted revenues 3,151 3,789 6,563 7,630
Hedge costs 30 17 55 36
Net interest cash flows from derivatives (2) (9) (12) (17)
Aflac U.S.        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Net earned premiums 1,394 1,408 2,807 2,830
Adjusted net investment income [4] 193 189 377 366
Other income 41 30 83 58
Total adjusted revenues 1,628 1,627 3,267 3,254
Net interest cash flows from derivatives 1   2  
Corporate and other        
Segment Reporting, Revenue Reconciling Item [Line Items]        
Total adjusted revenues [2],[5] 42 50 116 133
Hedge income 14 16 25 33
Income (loss) from federal historic rehabilitation and solar tax credit investments (31) (30) (42) (30)
Federal historic rehabilitation and solar tax credits, amount $ 28 $ 12 $ 44 $ 25
[1] Amortized hedge costs of $30 and $17 for the three-month periods and $55 and $36 for the six-month periods ended June 30, 2022, and 2021, 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] Amortized hedge income of $14 and $16 for the three-month periods and $25 and $33 for the six-month periods ended June 30, 2022, and 2021, 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.
[3] Net interest cash flows from derivatives associated with certain investment strategies of $(2) and $(9) for the three-month periods and $(12) and $(17) for the six-month periods ended June 30, 2022 and 2021, respectively, have been reclassified from net investment gains (losses) and included in adjusted earnings as a component of net investment income when analyzing operations.
[4] Net interest cash flows from derivatives associated with certain investment strategies of $1 for the three-month period and $2 for the six-month period ended June 30, 2022, have been reclassified from net investment gains (losses) and included in adjusted earnings as a component of net investment income when analyzing operations.
[5] The change in value of federal historic rehabilitation and solar investments in partnerships of $31 and $30 for the three-month periods and $42 and $30 for the six-month periods ended June 30, 2022, and 2021, respectively, is included as a reduction to net investment income. Tax credits on these investments of $28 and $12 for the three-month periods and $44 and $25 for the six-month periods ended June 30, 2022, and 2021, respectively, have been recorded as an income tax benefit in the consolidated statement of earnings. See Note 3 of the Notes to the Consolidated Financial Statements for additional information on these investments.