Overview Financials News + Filings Key Docs Charts Holdings Ownership Insiders
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| In millions, except per share items | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 | Dec-31-14 |
| | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
| Revenues: |
| All other | 107.0 | 274.0 | 305.0 | | | | | |
| Aflac Japan | 14,925.0 | 15,371.0 | 15,313.0 | 15,206.0 | 15,028.0 | 15,945.0 | 14,441.0 | 16,555.0 |
| Aflac U.S. | 6,489.0 | 6,565.0 | 6,550.0 | 6,443.0 | 6,289.0 | 6,167.0 | 6,033.0 | 5,859.0 |
| Corporate and other | 175.0 | 384.0 | 393.0 | 339.0 | 272.0 | 275.0 | | |
| Other | 410.0 | | | | 78.0 | 172.0 | 398.0 | 314.0 |
| Total revenues | 22,106.0 | 22,147.0 | 22,307.0 | 21,758.0 | 21,667.0 | 22,559.0 | 20,872.0 | 22,728.0 |
| Revenue growth | -0.2% | -0.7% | 2.5% | 0.4% | -4.0% | 8.1% | -8.2% | -5.1% |
| Loss and loss adjustment expenses | 10,576.0 | 11,796.0 | 11,942.0 | 12,000.0 | 12,181.0 | 12,919.0 | 11,746.0 | 12,937.0 |
| Policy acquisition costs | 1,170.0 | 1,214.0 | 1,282.0 | 1,245.0 | 1,132.0 | 1,141.0 | 1,066.0 | 1,108.0 |
| Other underwriting costs | | | | | | | | |
| Investment expenses | 218.0 | 212.0 | 177.0 | 148.0 | 114.0 | 107.0 | 95.0 | 80.0 |
| Other operating expenses | 4,582.0 | 4,524.0 | 4,233.0 | 4,160.0 | 3,982.0 | 4,057.0 | 3,814.0 | 3,795.0 |
| General and administrative | | | | | | | | 2,261.0 |
| EBITDA | 5,605.0 | 4,442.0 | 4,714.0 | 4,254.0 | 4,311.0 | 4,389.0 | 4,201.0 | 4,863.0 |
| EBITDA margin | 25.4% | 20.1% | 21.1% | 19.6% | 19.9% | 19.5% | 20.1% | 21.4% |
| Depreciation | 45.0 | 41.0 | 41.0 | 49.0 | 53.0 | 54.0 | 50.0 | 55.0 |
| EBIT | 5,560.0 | 4,401.0 | 4,673.0 | 4,205.0 | 4,258.0 | 4,335.0 | 4,151.0 | 4,808.0 |
| EBIT margin | 25.2% | 19.9% | 20.9% | 19.3% | 19.7% | 19.2% | 19.9% | 21.2% |
| Interest expense | 238.0 | 242.0 | 228.0 | 222.0 | 240.0 | 268.0 | 289.0 | 317.0 |
| Interest expense | 238.0 | 242.0 | 228.0 | 222.0 | 240.0 | 268.0 | 289.0 | 317.0 |
| Pre-tax income | 5,322.0 | 4,159.0 | 4,445.0 | 3,983.0 | 4,018.0 | 4,067.0 | 3,862.0 | 4,491.0 |
| Income taxes | 997.0 | -619.0 | 1,141.0 | 1,063.0 | -586.0 | 1,408.0 | 1,329.0 | 1,540.0 |
| Tax rate | 18.7% | | 25.7% | 26.7% | | 34.6% | 34.4% | 34.3% |
| Net income | 4,325.0 | 4,778.0 | 3,304.0 | 2,920.0 | 4,604.0 | 2,659.0 | 2,533.0 | 2,951.0 |
| Net margin | 19.6% | 21.6% | 14.8% | 13.4% | 21.2% | 11.8% | 12.1% | 13.0% |
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| Basic EPS | $6.42 | $6.69 | $4.45 | $3.79 | $5.81 | $3.23 | $5.88 | $6.54 |
| Diluted EPS | $6.39 | $6.67 | $4.43 | $3.77 | $5.77 | $3.21 | $5.85 | $6.50 |
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| Shares outstanding (basic) | 673.6 | 713.7 | 742.4 | 769.6 | 792.0 | 822.9 | 430.7 | 451.2 |
| Shares outstanding (diluted) | 676.7 | 716.2 | 746.4 | 774.7 | 797.9 | 827.8 | 433.2 | 454.0 |
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| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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