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DEFERRED POLICY ACQUISITION COSTS
6 Months Ended
Jun. 30, 2023
Insurance [Abstract]  
DEFERRED POLICY ACQUISITION COSTS DEFERRED POLICY ACQUISITION COSTSThe following tables present a rollforward of deferred policy acquisition costs by reporting segment and disaggregated by product type.
June 30, 2023
Aflac JapanAflac U.S.
(In millions)CancerMedical and Other HealthLife InsuranceOtherAccidentDisabilityCritical CareHospital IndemnityDental/VisionLife InsuranceOtherTotal
Deferred policy acquisition costs:
Balance at December 31, 2022
$3,035 $2,161 $525 $55 $904 $613 $1,304 $418 $88 $135 $1 $9,239 
Capitalization153 63 18 5 76 59 80 39 5 27 0 525 
Amortization expense(94)(54)(18)(2)(69)(56)(67)(32)(6)(11)2 (407)
Foreign currency translation and
  other
(262)(185)(44)(4)0 0 0 0 0 0 (2)(497)
Balance at June 30, 2023
$2,832 $1,985 $481 $54 $911 $616 $1,317 $425 $87 $151 $1 $8,860 
December 31, 2022
Aflac JapanAflac U.S.
(In millions)CancerMedical and Other HealthLife InsuranceOtherAccidentDisabilityCritical CareHospital IndemnityDental/VisionLife InsuranceOtherTotal
Deferred policy acquisition costs:
Balance at December 31, 2021
$3,464 $2,372 $595 $51 $887 $604 $1,270 $399 $90 $115 $$9,848 
Capitalization291 161 33 12 147 117 160 80 11 40 1,052 
Amortization expense(188)(112)(35)(3)(130)(108)(126)(61)(13)(20)(792)
Foreign currency translation and
  other
(532)(260)(68)(5)(4)(869)
Balance at December 31, 2022
$3,035 $2,161 $525 $55 $904 $613 $1,304 $418 $88 $135 $$9,239 

The Company uses the following constant level bases to amortize deferred policy acquisition costs:
Policy TypeConstant-level Basis
Life Products (U.S.)Face Amount
Health Products (U.S.)Number of Policies in Force
Health & Life Products (Japan)Units in Force

Face amount is the stated dollar amount that the policy’s beneficiaries receive upon the death of the insured. For life and health products issued in Japan, the constant-level basis used is units in force, which is a proxy for face amount and insurance in force, respectively. Future DAC amortization is impacted by persistency.

There were no changes to the inputs, judgements, assumptions and methods used to determine amortization amounts during the six-month periods ended June 30, 2023 and 2022.

See Note 1 of the Notes to the Consolidated Financial Statements for more information on deferred policy acquisition costs.