SHAREHOLDERS' EQUITY (Tables)

3 Months Ended

Mar. 31, 2024

Stockholders' Equity Note [Abstract]

Schedule of Common Stock Outstanding Roll Forward

The following table is a reconciliation of the number of shares of the Company's common stock for the three-month periods ended March 31.

(In thousands of shares)	2024	2023
Common stock - issued:
Balance, beginning of period	1,355,398	1,354,079
Exercise of stock options and issuance of restricted shares	1,082	933
Balance, end of period	1,356,480	1,355,012
Treasury stock:
Balance, beginning of period	776,919	738,823
Purchases of treasury stock:
Share repurchase program	9,276	10,348
Other	457	347
Dispositions of treasury stock:
Shares issued to AFL Stock Plan	(212)	(239)
Exercise of stock options	(55)	(48)
Other	(183)	(171)
Balance, end of period	786,202	749,060
Shares outstanding, end of period	570,278	605,952

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

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 for the following periods.

	Three Months Ended March 31,
(In thousands)	2024	2023
Anti-dilutive share-based awards	69		164

Changes in Accumulated Other Comprehensive Income (Loss)

The tables below are reconciliations of accumulated other comprehensive income by component for the following periods.

Changes in Accumulated Other Comprehensive Income

Three Months Ended March 31, 2024
(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 Assumptions			Pension Liability Adjustment			Total
Balance at December 31, 2023		$	(4,069)		$	1,139		$	(22)		$	(2,560)		$	(8)		$	(5,520)
Other comprehensive    income (loss) before    reclassification		(597)			86			(5)			1,065			1			550
Amounts reclassified from    accumulated other    comprehensive income   (loss)		0			(133)			1			0			0			(132)
Net current-period other    comprehensive    income (loss)		(597)			(47)			(4)			1,065			1			418
Balance at March 31, 2024		$	(4,666)		$	1,092		$	(26)		$	(1,495)		$	(7)		$	(5,102)

All amounts in the table above are net of tax.

Three Months Ended March 31, 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 Assumptions			Pension Liability Adjustment			Total
Balance at December 31, 2022		$	(3,564)		$	(702)		$	(27)		$	(2,100)		$	(36)		$	(6,429)
Other comprehensive    income (loss) before    reclassification		(54)			2,036			0			(2,794)			7			(805)
Amounts reclassified from    accumulated other    comprehensive income   (loss)		0			(45)			1			0			0			(44)
Net current-period other    comprehensive    income (loss)		(54)			1,991			1			(2,794)			7			(849)
Balance at March 31, 2023		$	(3,618)		$	1,289		$	(26)		$	(4,894)		$	(29)		$	(7,278)

All amounts in the table above are net of tax.

Reclassification Out Of Accumulated Other Comprehensive Income

The tables below summarize the amounts reclassified from each component of accumulated other comprehensive income into net earnings for the following periods.

Reclassifications Out of Accumulated Other Comprehensive Income

(In millions)	Three Months Ended March 31, 2024
Details about Accumulated Other Comprehensive Income Components	Amount Reclassified from Accumulated Other Comprehensive Income			Affected Line Item in the Statements of Earnings
Unrealized gains (losses) on available-for-sale    securities		$	168	Net investment gains (losses)
		(35)		Tax (expense) or benefit(1)
		$	133	Net of tax
Unrealized gains (losses) on derivatives		$	(1)	Net investment gains (losses)
		0		Tax (expense) or benefit(1)
		$	(1)	Net of tax
Total reclassifications for the period		$	132	Net of tax

(1) Based on 21% tax rate

(In millions)	Three Months Ended March 31, 2023
Details about Accumulated Other Comprehensive Income Components	Amount Reclassified from Accumulated Other Comprehensive Income			Affected Line Item in the Statements of Earnings
Unrealized gains (losses) on available-for-sale    securities		$	57	Net investment gains (losses)
		(12)		Tax (expense) or benefit(1)
		$	45	Net of tax
Unrealized gains (losses) on derivatives		$	(1)	Net investment gains (losses)
		0		Tax (expense) or benefit(1)
		$	(1)	Net of tax
Total reclassifications for the period		$	44	Net of tax

(1) Based on 21% tax rate