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SHAREHOLDERS' EQUITY
 12 Months Ended
Dec. 31, 2023
Stockholders' Equity Note [Abstract]  
SHAREHOLDERS' EQUITY SHAREHOLDERS' EQUITY
The following table is a reconciliation of the number of shares of the Company's common stock for the years ended December 31.
(In thousands of shares)202320222021
Common stock - issued:
Balance, beginning of period1,354,0791,352,7391,351,018
Exercise of stock options and issuance of restricted shares1,3191,3401,721
Balance, end of period1,355,3981,354,0791,352,739
Treasury stock:
Balance, beginning of period738,823700,607658,564
Purchases of treasury stock:
Share repurchase program38,89639,18743,327
Other364370437
Dispositions of treasury stock:
Shares issued to AFL Stock Plan(897)(1,009)(1,216)
Exercise of stock options(88)(117)(275)
Other(179)(215)(230)
Balance, end of period776,919738,823700,607
Shares outstanding, end of period578,479615,256652,132

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)202320222021
Anti-dilutive share-based awards51 118 0 

The weighted-average shares used in calculating EPS for the years ended December 31 were as follows: 
(In thousands of shares)202320222021
Weighted-average outstanding shares used for calculating basic EPS596,173 634,816 673,617 
Dilutive effect of share-based awards2,572 2,839 3,112 
Weighted-average outstanding shares used for calculating diluted EPS598,745 637,655 676,729 

Share Repurchase Program: During 2023, the Company repurchased 38.9 million shares of its common stock in the open market for $2.8 billion. The Company repurchased 39.2 million shares for $2.4 billion in 2022 and 43.3 million shares for $2.3 billion in 2021. In November 2022, the Company's board of directors authorized the purchase of an additional 100 million shares of its common stock. As of December 31, 2023, a remaining balance of 77.7 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.
Reclassifications from Accumulated Other Comprehensive Income
The tables below are reconciliations of accumulated other comprehensive income by component for the years ended December 31.

Changes in Accumulated Other Comprehensive Income
2023
(In millions)Unrealized Foreign
Currency Translation
Gains (Losses)		Unrealized
Gains (Losses)
on Fixed Maturity Securities		Unrealized
Gains (Losses)
on Derivatives		Effect of Changes in Discount Rate AssumptionsPension
Liability
Adjustment		Total
Balance at December 31, 2022
$(3,564)$(702)$(27)$(2,100)$(36)$(6,429)
Other comprehensive
   income (loss) before
   reclassification 		(505)1,972 1 (460)28 1,036 
Amounts reclassified from
   accumulated other
   comprehensive income
  (loss)		0 (131)4 0 0 (127)
Net current-period other
   comprehensive
   income (loss)		(505)1,841 5 (460)28 909 
Balance at December 31, 2023
$(4,069)$1,139 $(22)$(2,560)$(8)$(5,520)
All amounts in the table above are net of tax.
Prior-year amounts have been adjusted for the adoption of accounting guidance on January 1, 2023 related to accounting for long-duration insurance contracts.
2022
(In millions)Unrealized Foreign
Currency Translation
Gains (Losses)		Unrealized
Gains (Losses)
on Fixed Maturity Securities		Unrealized
Gains (Losses)
on Derivatives		Effect of Changes in Discount Rate AssumptionsPension Liability AdjustmentTotal
Balance at December 31, 2021
$(1,985)$9,602 $(30)$(15,832)$(166)$(8,411)
Other comprehensive
   income (loss) before
   reclassification		(1,579)(9,946)(1)13,732 111 2,317 
Amounts reclassified from
   accumulated other
   comprehensive income
  (loss)		0 (358)4 0 19 (335)
Net current-period other
   comprehensive
   income (loss)		(1,579)(10,304)3 13,732 130 1,982 
Balance at December 31, 2022
$(3,564)$(702)$(27)$(2,100)$(36)$(6,429)
All amounts in the table above are net of tax.
Prior-year amounts have been adjusted for the adoption of accounting guidance on January 1, 2023 related to accounting for long-duration insurance contracts.
2021
(In millions)Unrealized Foreign
Currency Translation
Gains (Losses)		Unrealized
Gains (Losses)
on Fixed Maturity Securities		Unrealized
Gains (Losses)
on Derivatives		Effect of Changes in Discount Rate AssumptionsPension Liability AdjustmentTotal
Balance at December 31, 2020
$(1,109)$10,361 $(34)$0 $(284)$8,934 
Cumulative effect of change
   in accounting principle -
   ASU 2018-12		0 0 0 (18,570)0 (18,570)
Balance at January 1, 2021$(1,109)$10,361 $(34)$(18,570)$(284)$(9,636)
Other comprehensive
   income (loss) before
   reclassification		(876)(735)(1)2,738 90 1,216 
Amounts reclassified from
   accumulated other
   comprehensive income
  (loss)		0 (24)5 0 28 9 
Net current-period other
   comprehensive
   income (loss)		(876)(759)4 2,738 118 1,225 
Balance at December 31, 2021
$(1,985)$9,602 $(30)$(15,832)$(166)$(8,411)
All amounts in the table above are net of tax.
Prior-year amounts have been adjusted for the adoption of accounting guidance on January 1, 2023 related to accounting for long-duration insurance contracts.

The tables below summarize the amounts reclassified from each component of accumulated other comprehensive income into net earnings for the years ended December 31.

Reclassifications Out of Accumulated Other Comprehensive Income
(In millions)2023
Details about Accumulated Other Comprehensive Income ComponentsAmount Reclassified from Accumulated Other Comprehensive IncomeAffected Line Item in the
Statements of Earnings
Unrealized gains (losses) on available-for-sale
   securities		$166 Net investment gains (losses)
(35)
Tax (expense) or benefit(1)
$131 Net of tax
Unrealized gains (losses) on derivatives$(4)Net investment gains (losses)
(1)Net investment income
(5)Total before tax
1 
Tax (expense) or benefit(1)
$(4)Net of tax
Amortization of defined benefit pension items:
       Actuarial gains (losses)$0 
Acquisition and operating expenses(2)
Prior service (cost) credit0 
Acquisition and operating expenses(2)
0 
Tax (expense) or benefit(1)
$0 Net of tax
Total reclassifications for the period$127 Net of tax
(1) Based on 21% tax rate
(2) These accumulated other comprehensive income components are included in the computation of net periodic benefit cost (see Note 14 for additional details).
(In millions)2022
Details about Accumulated Other Comprehensive Income ComponentsAmount Reclassified from Accumulated Other Comprehensive IncomeAffected Line Item in the
Statements of Earnings
Unrealized gains (losses) on available-for-sale
   securities		$453 Net investment gains (losses)
(95)
Tax (expense) or benefit(1)
$358 Net of tax
Unrealized gains (losses) on derivatives$(4)Net investment gains (losses)
(1)Net investment income
(5)Total before tax
1 
Tax (expense) or benefit(1)
$(4)Net of tax
Amortization of defined benefit pension items:
       Actuarial gains (losses)$(24)
Acquisition and operating expenses(2)
Prior service (cost) credit0 
Acquisition and operating expenses(2)
5 
Tax (expense) or benefit(1)
$(19)Net of tax
Total reclassifications for the period$335 Net of tax
(1) Based on 21% tax rate
(2) These accumulated other comprehensive income components are included in the computation of net periodic benefit cost (see Note 14 for additional details).

(In millions)2021
Details about Accumulated Other Comprehensive Income ComponentsAmount Reclassified from Accumulated Other Comprehensive IncomeAffected Line Item in the
Statements of Earnings
Unrealized gains (losses) on available-for-sale
   securities		$31 Net investment gains (losses)
(7)
Tax (expense) or benefit(1)
$24 Net of tax
Unrealized gains (losses) on derivatives$(5)Net investment gains (losses)
(1)Net investment income
(6)Total before tax
1 
Tax (expense) or benefit(1)
$(5)Net of tax
Amortization of defined benefit pension items:
       Actuarial gains (losses)$(35)
Acquisition and operating expenses(2)
       Prior service (cost) credit0 
Acquisition and operating expenses(2)
7 
Tax (expense) or benefit(1)
$(28)Net of tax
Total reclassifications for the period$(9)Net of tax
(1) Based on 21% tax rate
(2) These accumulated other comprehensive income components are included in the computation of net periodic benefit cost (see Note 14 for additional details).