XML 73 R56.htm IDEA: XBRL DOCUMENT v3.24.0.1
BUSINESS SEGMENT AND SELECTED FOREIGN CURRENCY TRANSLATION ITEMS - Operations by Segment - Pretax Earnings (Detail) - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]                      
Other income (loss)                 $ 39 $ 0 $ (73)
Net investment gains (losses) $ (511) $ 423 $ 555 $ 123 $ (521) $ 199 $ 564 $ 122 590 363 468
Earnings before income taxes $ 289 $ 1,805 $ 1,825 $ 1,342 $ 538 $ 1,329 $ 1,708 $ 1,294 5,262 4,869 5,208
Income taxes applicable to pretax adjusted earnings                 577 808 893
Effect of foreign currency translation on after tax adjusted earnings                 (113) (262) (35)
Interest expense on debt                 190 217 225
Operating Segments                      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]                      
Pretax adjusted earnings                 4,310 4,422 4,819
Segment Reconciling Items                      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]                      
Hedge costs                 157 112 76
Net interest cash flows from derivatives                 328 90 30
Hedge income                 (121) (68) (57)
Gain (loss) on change in fair value of derivative, interest rate component                 (41) (50) (55)
Aflac Japan | Operating Segments                      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]                      
Pretax adjusted earnings [1]                 3,234 3,281 3,756
Aflac U.S. | Operating Segments                      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]                      
Pretax adjusted earnings                 1,501 1,359 1,356
Corporate and other                      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]                      
Change in value of federal historic rehabilitation and solar tax credit investments                 (343) (91) (138)
Federal historic rehabilitation and solar tax credits, amount                 334 83 115
Corporate and other | Operating Segments                      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]                      
Pretax adjusted earnings [2]                 $ (425) $ (218) $ (293)
[1] Includes a gain (loss) of $20, $(42) and $(11) for 2023, 2022 and 2021, respectively, related to remeasurement of the deferred profit liability for limited-payment contracts.
[2] The change in value of federal historic rehabilitation and solar investments in partnerships of $343, $91 and $138 in 2023, 2022 and 2021, respectively, is included as a reduction to net investment income. Tax credits on these investments of $334, $83 and $115 in 2023, 2022 and 2021, respectively, have been recorded as an income tax benefit in the consolidated statements of earnings. See Note 3 for additional information on these investments.