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SHARE-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2023
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 years ended December 31.
(In millions, except for per-share amounts)202320222021
Impact on earnings from continuing operations$79 $69 $65 
Impact on earnings before income taxes79 69 65 
Impact on net earnings62 55 51 
Impact on net earnings per share:
Basic$.10 $.09 $.08 
Diluted.10 .09 .08 
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, 20203,045 $30.25 
Granted in 20210.00 
Canceled in 2021(4)16.93 
Exercised in 2021(896)28.45 
Outstanding at December 31, 20212,145 31.02 
Granted in 20220.00 
Canceled in 2022(8)32.43 
Exercised in 2022(560)28.11 
Outstanding at December 31, 20221,577 32.05 
Granted in 20230 0.00 
Canceled in 20230 24.75 
Exercised in 2023(526)30.35 
Outstanding at December 31, 20231,051 $32.90 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable
(In thousands of shares)202320222021
Shares exercisable, end of year1,051 1,577 2,145 
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.
202320222021
Expected term (years)8.07.87.9
Expected volatility26.7 %25.8 %25.6 %
Annual forfeiture rate4.2 4.0 3.8 
Risk-free interest rate3.0 1.6 1.0 
Dividend yield2.3 2.7 3.0 
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, 2023.
(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 0.0$0.00 $0.00 
24.75 -28.97 217 2.128.96 217 28.96 
28.97 -31.21 368 1.030.57 368 30.57 
31.21 -36.21 317 2.834.68 317 34.68 
36.21 -44.59 149 3.840.57 149 40.57 
$0.00 -$44.59 1,051 2.2$32.90 1,051 $32.90 
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)202320222021
Total intrinsic value of options exercised$22 $20 $21 
Cash received from options exercised16 16 26 
Tax benefit realized as a result of options exercised and
  restricted stock releases
20 18 17 
Schedule of Share-based Payment Award, Performance Based Restricted Stock, Valuation Assumptions
Key assumptions used to value PBRS granted during 2023 follows:
(In millions)2023
Expected volatility (based on Aflac Inc. and peer group historical daily stock price) 32.3 %
Expected life from grant date (years)2.9
Risk-free interest rate (based on U.S. Treasury yields at the date of grant)4.1 %
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, 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 
Granted in 20221,119 66.72 
Canceled in 2022(96)54.59 
Vested in 2022(1,166)49.64 
Restricted stock at December 31, 20222,414 56.21 
Granted in 20231,171 70.74 
Canceled in 2023(112)60.62 
Vested in 2023(1,165)52.77 
Restricted stock at December 31, 20232,308 $62.96