v3.25.2
SHAREHOLDERS' EQUITY (Tables)
 6 Months Ended
Jun. 30, 2025
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 six-month periods ended June 30.
(In thousands of shares)20252024
Common stock - issued:
Balance, beginning of period1,356,763 1,355,398 
Exercise of stock options and issuance of restricted shares1,027 1,220 
Balance, end of period1,357,790 1,356,618 
Treasury stock:
Balance, beginning of period806,799 776,919 
Purchases of treasury stock:
Share repurchase program16,413 18,564 
Other402 480 
Dispositions of treasury stock:
Shares issued to AFL Stock Plan(366)(430)
Exercise of stock options(41)(98)
Other(226)(186)
Balance, end of period822,981 795,249 
Shares outstanding, end of period534,809 561,369 
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 June 30,Six Months Ended June 30,
(In thousands)2025202420252024
Anti-dilutive share-based awards20135
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
June 30, 2025
(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 March 31, 2025$(4,549)$(1,233)$(18)$3,899 $42 $(1,859)
Other comprehensive
   income (loss) before
   reclassification 		267 (606)0 1,695 (1)1,355 
Amounts reclassified from
   accumulated other
   comprehensive income
  (loss)		0 11 1 0 1 13 
Net current-period other
   comprehensive
   income (loss)		267 (595)1 1,695 0 1,368 
Balance at June 30, 2025$(4,282)$(1,828)$(17)$5,594 $42 $(491)
All amounts in the table above are net of tax.

Three Months Ended
June 30, 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 AssumptionsPension
Liability
Adjustment		Total
Balance at March 31, 2024$(4,666)$1,092 $(26)$(1,495)$(7)$(5,102)
Other comprehensive
   income (loss) before
   reclassification		(425)(652)3 2,920 3 1,849 
Amounts reclassified from
   accumulated other
   comprehensive income
  (loss)		0 (39)1 0 (1)(39)
Net current-period other
   comprehensive
   income (loss)		(425)(691)4 2,920 2 1,810 
Balance at June 30, 2024$(5,091)$401 $(22)$1,425 $(5)$(3,292)
All amounts in the table above are net of tax.
Six Months Ended
June 30, 2025
(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, 2024$(4,998)$24 $(20)$2,006 $10 $(2,978)
Other comprehensive
   income (loss) before
   reclassification 		716 (1,831)1 3,588 32 2,506 
Amounts reclassified from
   accumulated other
   comprehensive income
  (loss)		0 (21)2 0 0 (19)
Net current-period other
   comprehensive
   income (loss)		716 (1,852)3 3,588 32 2,487 
Balance at June 30, 2025$(4,282)$(1,828)$(17)$5,594 $42 $(491)
All amounts in the table above are net of tax.

Six Months Ended
June 30, 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 AssumptionsPension
Liability
Adjustment		Total
Balance at December 31, 2023$(4,069)$1,139 $(22)$(2,560)$(8)$(5,520)
Other comprehensive
   income (loss) before
   reclassification 		(1,022)(566)(2)3,985 4 2,399 
Amounts reclassified from
   accumulated other
   comprehensive income
  (loss)		0 (172)2 0 (1)(171)
Net current-period other
   comprehensive
   income (loss)		(1,022)(738)0 3,985 3 2,228 
Balance at June 30, 2024$(5,091)$401 $(22)$1,425 $(5)$(3,292)
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
June 30, 2025
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		$(14)Net investment gains (losses)
3 
Tax (expense) or benefit(1)
$(11)Net of tax
Unrealized gains (losses) on derivatives$(1)Net investment gains (losses)
0 
Tax (expense) or benefit(1)
$(1)Net of tax
Amortization of defined benefit pension items:
       Actuarial gains (losses)$(1)
Acquisition and operating expenses(2)
       Prior service (cost) credit0 
Acquisition and operating expenses(2)
0 
Tax (expense) or benefit(1)
$(1)Net of tax
Total reclassifications for the period$(13)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 12 for additional details).

(In millions)
Three Months Ended
June 30, 2024
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		$50 Net investment gains (losses)
(11)
Tax (expense) or benefit(1)
$39 Net of tax
Unrealized gains (losses) on derivatives$(1)Net investment gains (losses)
0 
Tax (expense) or benefit(1)
$(1)Net of tax
Amortization of defined benefit pension items:
       Actuarial gains (losses)$1 
Acquisition and operating expenses(2)
       Prior service (cost) credit0 
Acquisition and operating expenses(2)
0 
Tax (expense) or benefit(1)
$1 Net of tax
Total reclassifications for the period$39 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 12 for additional details).
(In millions)
Six Months Ended
June 30, 2025
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		$26 Net investment gains (losses)
(5)
Tax (expense) or benefit(1)
$21 Net of tax
Unrealized gains (losses) on derivatives$(2)Net investment gains (losses)
0 
Tax (expense) or benefit(1)
$(2)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$19 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 12 for additional details).

(In millions)
Six Months Ended
June 30, 2024
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		$218 Net investment gains (losses)
(46)
Tax (expense) or benefit(1)
$172 Net of tax
Unrealized gains (losses) on derivatives$(2)Net investment gains (losses)
0 
Tax (expense) or benefit(1)
$(2)Net of tax
Amortization of defined benefit pension items:
       Actuarial gains (losses)$1 
Acquisition and operating expenses(2)
Prior service (cost) credit0 
Acquisition and operating expenses(2)
0 
Tax (expense) or benefit(1)
$1 Net of tax
Total reclassifications for the period$171 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 12 for additional details).