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BENEFIT PLANS (Tables)
 12 Months Ended
Dec. 31, 2022
Schedule of Net Funded Status
Information with respect to the Company's benefit plans' assets and obligations as of December 31 was as follows:
Pension BenefitsOther
JapanU.S.Postretirement Benefits
(In millions)202220212022202120222021
Projected benefit obligation:
      Benefit obligation, beginning of year$432 $473 $1,186 $1,204 $36 $42 
      Service cost19 23 26 28 0 0 
      Interest cost5 6 34 32 1 1 
      Actuarial (gain) loss(61)(9)(374)(50)0 (2)
      Benefits and expenses paid(13)(15)(29)(28)(5)(5)
      Effect of foreign exchange
         rate changes		(55)(46)0 0 0 0 
               Benefit obligation, end of year327 432 843 1,186 32 36 
Plan assets:
      Fair value of plan assets,
         beginning of year		415 416 885 824 0 0 
      Actual return on plan assets(46)14 (205)81 0 0 
      Employer contributions34 44 8 8 5 5 
      Benefits and expenses paid(13)(15)(29)(28)(5)(5)
      Effect of foreign exchange
         rate changes		(55)(44)0 0 0 0 
               Fair value of plan assets,
                  end of year		335 415 659 885 0 0 
Funded status of the plans(1)
$8 $(17)$(184)$(301)$(32)$(36)
Amounts recognized in accumulated other
    comprehensive income:
      Net actuarial (gain) loss$35 $50 $10 $158 $8 $10 
      Prior service (credit) cost0 0 (2)(2)0 0 
               Total included in accumulated
                  other comprehensive income		$35 $50 $8 $156 $8 $10 
Accumulated benefit obligation$215 $346 $741 $1,010 N/AN/A
(1) Underfunded amounts are recognized in other liabilities in the consolidated balance sheets and overfunded amounts are recognized in other assets in the consolidated balance sheets
Information for Pension Plans with Accumulated Benefit Obligation in Excess of Plan Assets
Information for Pension Plans with an Accumulated Benefit Obligation in Excess of Plan Assets
Pension Benefits
JapanU.S.
(In millions)2022202120222021
Accumulated benefit obligation $215 $346 $741 $1,010 
Fair value of plan assets335 415 659 885 
Information for Pension Plans with a Projected Benefit Obligation in Excess of Plan Assets
Information for Pension Plans with a Projected Benefit Obligation in Excess of Plan Assets
Pension Benefits
Japan (1)
U.S.(2)
(In millions)2022202120222021
Projected benefit obligation $327 $432 $843 $1,186 
Fair value of plan assets335 415 659 885 
(1) The net amount of projected benefit obligation and plan assets for the overfunded Japan pension plan was $8 at December 31, 2022 and was classified as other assets on the statement of financial position. The net amount of projected benefit obligation and plan assets for the underfunded (including unfunded) Japan pension plan was $17 at December 31, 2021 and was classified as liabilities on the statement of financial position.
(2) The net amount of projected benefit obligation and plan assets for the underfunded (including unfunded) U.S. pension plan was $184 and $301 at December 31, 2022 and 2021, respectively, and was classified as liabilities on the statement of financial position.
Schedule of Assumptions Used
Pension BenefitsOther
JapanU.S.Postretirement Benefits
202220212020202220212020202220212020
Weighted-average
  actuarial assumptions:		                    
Discount rate - net periodic
  benefit cost		.94 %.75 %.75 %2.94 %2.68 %3.25 %2.94 %2.68 %3.25 %
Discount rate - benefit
  obligations		1.95 .94 .75 5.28 2.94 2.68   5.28 2.94 2.68   
Expected long-term return
  on plan assets		2.00 2.00 2.00 5.50 5.75 6.00 N/AN/AN/A
Rate of compensation
  increase		N/AN/AN/A4.00 4.00 4.00 N/AN/AN/A
Health care cost trend ratesN/AN/AN/AN/AN/AN/A6.50 
(1)
5.80 
(1)
6.30 
(1)
(1) For the years 2022, 2021 and 2020, the health care cost trend rates are expected to trend down to 3.7% in 51 years, 3.7% in 52 years, and 3.7% in 53 years, respectively.
Schedule of Net Benefit Costs Total net periodic benefit cost includes the following components:
Pension BenefitsOther
JapanU.S.Postretirement Benefits
(In millions)202220212020202220212020202220212020
Service cost$19 $23 $24 $26 $28 $29 $0 $0 $0 
Interest cost5 6 5 34 32 34 1 1 1 
Expected return on plan assets(8)(8)(7)(42)(41)(35)0 0 0 
Amortization of net actuarial loss1 2 4 21 30 26 2 3 2 
Amortization of prior service cost0 0 (1)0 0 (2)0 0 0 
Net periodic (benefit) cost$17 $23 $25 $39 $49 $52 $3 $4 $3 
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
The following table summarizes the amounts recognized in other comprehensive loss (income) for the years ended December 31:
Pension BenefitsOther
JapanU.S.Postretirement Benefits
(In millions)202220212020202220212020202220212020
Net actuarial loss (gain)$(14)$(22)$(14)$(127)$(90)$45 $0 $(2)$5 
Amortization of net
  actuarial loss
(1)(2)(4)(21)(30)(26)(2)(3)(2)
Amortization of prior
  service cost 		0 1 1 0 0 2 0 0 0 
     Total$(15)$(23)$(17)$(148)$(120)$21 $(2)$(5)$3 
Schedule of Expected Benefit Payments
The following table provides expected benefit payments, which reflect expected future service, as appropriate.
Pension BenefitsOther
(In millions)JapanU.S.Postretirement Benefits
2023$10 $33 $5 
202417 34 5 
202515 35 5 
202614 37 4 
202714 46 4 
2028-203279 246 7 
Schedule of Allocation of Plan Assets Asset allocation targets as of December 31, 2022 were as follows:
Japan
Pension		U.S.
Pension
Domestic equities6 %0 %
International equities17 0 
Fixed income securities69 100 
Other8 0 
     Total100 %100 %
Plan Assets  
Fair Value, Assets Measured on Recurring Basis
The following table presents the fair value of Aflac Japan's pension plan assets that are measured at fair value on a recurring basis as of December 31. All of these assets are classified as Level 2 in the fair value hierarchy.
(In millions)20222021
Japan pension plan assets:
     Equities:
        Japanese equity securities$20 $21 
        International equity securities57 86 
     Fixed income securities:
        Japanese bonds20 22 
        International bonds210 252 
     Insurance contracts28 34 
        Total$335 $415 
The following table presents the fair value of Aflac U.S.'s pension plan assets that are measured at fair value on a recurring basis as of December 31. All of these assets are classified as Level 1 in the fair value hierarchy.
(In millions)20222021
U.S. pension plan assets:
     Mutual funds:
        Large cap equity funds$0 $297 
        Mid cap equity funds0 25 
        International equity funds0 208 
        Fixed income bond funds641 346 
     Aflac Incorporated common stock0 7 
     Cash and cash equivalents18 2 
        Total$659 $885