Company research
AFLAC INC
CIK 4977Updated Nov 10, 2026
SecurityAFL · NYSE · equity
AFL price & chart
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NYSE:AFL on TradingView ↗About the company
Aflac Incorporated (NYSE: AFL), a Fortune 500 company, has helped provide financial protection and peace of mind for more than seven decades to millions of policyholders and customers through its subsidiaries in the U.S. and Japan. In the U.S., Aflac is the No. 1 provider of supplemental health insurance products. 1 In Japan, Aflac Life Insurance Japan is the leading provider of cancer and medical insurance in terms of policies in force. 2 The company takes pride in being there for its policyholders when they need us most, as well as being included in the World’s Most Ethical Companies by Ethisphere for 20 consecutive years (2026) and Fortune’s World’s Most Admired Companies for 25 years (2026). In addition, the company became a signatory of the Principles for Responsible Investment (PRI) in 2021. To find out how to get help with expenses health insurance doesn't cover, get to know us at aflac.com or aflac.com/espanol.
In the news
For Aflac, 25 years of holiday giving is just ducky! ↗
My Special Aflac Duck® Puts Love and Care in the hands of Children at Riley Hospital ↗
Japan Post Holdings sells $1.61m Aflac (NYSE:AFL) shares ↗
Seeking Alpha
Financials Earnings Scorecard: 87% beat EPS estimates; Y/Y earnings growth mixed ↗
69 Dividend Champions Ranked By Quality Scores (November 2026) ↗
Aflac expects Japan pretax margin of 35% to 38% as it targets 30% FSA reserves reinsurance cession ↗
SEC disclosures
AFLAC INC files 8-K: Material Event ↗
Recent filings
Financials
FY 2025 · USDSource
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balance sheet · annual statements
| Line item | Q3 2025 | Q3 2024 | Q2 2026 | Q2 2025 | Q2 2024 | Q1 2026 | Q1 2025 | Q1 2024 | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ASSETS | ||||||||||||
| AssetsUSD | 122,306,000,000Source | 128,442,000,000Source | 115,961,000,000Source | 124,736,000,000Source | 120,168,000,000Source | 116,280,000,000Source | 120,258,000,000Source | 124,742,000,000Source | 116,470,000,000Source | 117,566,000,000Source | 126,724,000,000Source | 131,017,000,000Source |
| Property, Plant and Equipment, NetUSD | 367,000,000Source | 421,000,000Source | 351,000,000Source | 390,000,000Source | 398,000,000Source | 354,000,000Source | 391,000,000Source | 418,000,000Source | 351,000,000Source | 387,000,000Source | 445,000,000Source | 530,000,000Source |
| GoodwillUSD | — | — | — | — | — | — | — | — | 260,000,000Source | 263,000,000Source | 265,000,000Source | 265,000,000Source |
| Current assets: | ||||||||||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 6,768,000,000Source | 5,612,000,000Source | 6,120,000,000Source | 6,965,000,000Source | 6,060,000,000Source | 5,654,000,000Source | 5,231,000,000Source | 5,098,000,000Source | 6,245,000,000Source | 6,229,000,000Source | 4,306,000,000Source | 3,943,000,000Source |
| LIABILITIES AND EQUITY | ||||||||||||
| LiabilitiesUSD | 93,618,000,000Source | 103,612,000,000Source | 85,649,000,000Source | 97,536,000,000Source | 94,121,000,000Source | 86,319,000,000Source | 93,920,000,000Source | 101,205,000,000Source | 86,980,000,000Source | 91,468,000,000Source | 104,739,000,000Source | 108,652,000,000Source |
| Stockholders’ equity: | ||||||||||||
| Common Stock, Value, IssuedUSD | 136,000,000Source | 136,000,000Source | 136,000,000Source | 136,000,000Source | 136,000,000Source | 136,000,000Source | 136,000,000Source | 136,000,000Source | 136,000,000Source | 136,000,000Source | 136,000,000Source | 135,000,000Source |
| Retained Earnings (Accumulated Deficit)USD | 53,923,000,000Source | 50,972,000,000Source | 56,218,000,000Source | 52,595,000,000Source | 51,345,000,000Source | 55,702,000,000Source | 52,308,000,000Source | 49,872,000,000Source | 54,682,000,000Source | 52,277,000,000Source | 47,993,000,000Source | 44,568,000,000Source |
| Accumulated Other Comprehensive Income (Loss), Net of TaxUSD | — | -3,677,000,000Source | — | — | -3,292,000,000Source | — | — | -5,102,000,000Source | — | — | -5,520,000,000Source | -4,405,000,000Source |
| Stockholders' Equity Attributable to ParentUSD | 28,688,000,000Source | 24,830,000,000Source | 30,312,000,000Source | 27,200,000,000Source | 26,047,000,000Source | 29,961,000,000Source | 26,338,000,000Source | 23,537,000,000Source | 29,490,000,000Source | 26,098,000,000Source | 21,985,000,000Source | 22,365,000,000Source |
| Additional Paid in Capital, Common StockUSD | 2,977,000,000Source | 2,876,000,000Source | 3,105,000,000Source | 2,958,000,000Source | 2,835,000,000Source | 3,064,000,000Source | 2,919,000,000Source | 2,806,000,000Source | 3,024,000,000Source | 2,894,000,000Source | 2,771,000,000Source | 2,641,000,000Source |
| Liabilities and EquityUSD | 122,306,000,000Source | 128,442,000,000Source | 115,961,000,000Source | 124,736,000,000Source | 120,168,000,000Source | 116,280,000,000Source | 120,258,000,000Source | 124,742,000,000Source | 116,470,000,000Source | 117,566,000,000Source | 126,724,000,000Source | 131,017,000,000Source |
| Additional Financial Items | ||||||||||||
| AOCI, Debt Securities, Available-for-sale, Adjustment, after TaxUSD | -1,701,000,000Source | 557,000,000Source | -2,753,000,000Source | -1,828,000,000Source | 401,000,000Source | -2,665,000,000Source | -1,233,000,000Source | 1,092,000,000Source | -1,809,000,000Source | 24,000,000Source | 1,139,000,000Source | -702,000,000Source |
| Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after TaxUSD | -42,000,000Source | 8,000,000Source | -83,000,000Source | -42,000,000Source | 5,000,000Source | -85,000,000Source | -42,000,000Source | 7,000,000Source | -86,000,000Source | -10,000,000Source | 8,000,000Source | 36,000,000Source |
| Deferred Tax Liabilities, NetUSD | — | — | — | — | — | — | — | — | 1,279,000,000Source | 333,000,000Source | — | 974,000,000Source |
cash flow · annual statements
| Line item | Q4 2025 | Q4 2024 | Q3 2025 | Q3 2024 | Q2 2026 | Q2 2025 | Q1 2026 | Q1 2025 | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Depreciation and amortization | — | — | — | — | — | — | — | — | —Source | —Source | —Source | —Source |
| Deferred Income Tax Expense (Benefit)USD | — | — | — | — | — | — | — | — | -228,000,000Source | -356,000,000Source | -1,060,000,000Source | -778,000,000Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | — | — | — | — | — | — | 968,000,000Source | 589,000,000Source | 2,555,000,000Source | 2,707,000,000Source | 3,190,000,000Source | 3,879,000,000Source |
| Cash flows from investing activities: | ||||||||||||
| Net Cash Provided by (Used in) Investing ActivitiesUSD | — | — | — | — | — | — | 244,000,000Source | -359,000,000Source | 1,561,000,000Source | 2,781,000,000Source | 817,000,000Source | -1,540,000,000Source |
| Payments for (Proceeds from) Other Investing ActivitiesUSD | — | — | — | — | — | — | -176,000,000Source | 78,000,000Source | 295,000,000Source | -61,000,000Source | 149,000,000Source | -112,000,000Source |
| Cash flows from financing activities: | ||||||||||||
| Payments for Repurchase of Common StockUSD | — | — | — | — | — | — | 1,000,000,000Source | 900,000,000Source | 3,530,000,000Source | 2,800,000,000Source | 2,801,000,000Source | 2,401,000,000Source |
| Net Cash Provided by (Used in) Financing ActivitiesUSD | — | — | — | — | — | — | -1,762,000,000Source | -1,261,000,000Source | -4,069,000,000Source | -3,486,000,000Source | -3,723,000,000Source | -3,551,000,000Source |
| Dividends paid | — | — | — | — | — | — | —Source | —Source | —Source | —Source | —Source | —Source |
| Proceeds from (Payments for) Other Financing ActivitiesUSD | — | — | — | — | — | — | 8,000,000Source | -1,000,000Source | -38,000,000Source | -28,000,000Source | -17,000,000Source | 34,000,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | — | — | — | — | — | — | -591,000,000Source | -998,000,000Source | 16,000,000Source | 1,923,000,000Source | 363,000,000Source | -1,108,000,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | — | — | 6,768,000,000Source | 5,612,000,000Source | 6,120,000,000Source | 6,965,000,000Source | 5,654,000,000Source | 5,231,000,000Source | 6,245,000,000Source | 6,229,000,000Source | 4,306,000,000Source | 3,943,000,000Source |
| Supplemental disclosure of cash flow information: | ||||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesUSD | — | — | — | — | — | — | 51,000,000Source | 40,000,000Source | 197,000,000Source | 180,000,000Source | 185,000,000Source | 211,000,000Source |
| Income Taxes Paid, NetUSD | — | — | — | — | — | — | -18,000,000Source | -1,000,000Source | 1,165,000,000Source | 1,367,000,000Source | 1,569,000,000Source | 961,000,000Source |
| Additional Financial Items | ||||||||||||
| Deferred Policy Acquisition Costs, Amortization ExpenseUSD | — | — | 218,000,000Source | 214,000,000Source | 218,000,000Source | 221,000,000Source | 221,000,000Source | 216,000,000Source | 874,000,000Source | 851,000,000Source | 816,000,000Source | 1,152,000,000Source |
| Depreciation, NonproductionUSD | — | — | — | — | — | — | — | — | — | — | 35,000,000Source | 40,000,000Source |
| Equity Securities, FV-NI, Unrealized Gain (Loss)USD | — | — | 11,000,000Source | 34,000,000Source | 60,000,000Source | 101,000,000Source | -30,000,000Source | 55,000,000Source | 46,000,000Source | 118,000,000Source | 63,000,000Source | -340,000,000Source |
| Gain (Loss) on Derivative Instruments, Net, PretaxUSD | — | — | -123,000,000Source | 436,000,000Source | -134,000,000Source | 23,000,000Source | -95,000,000Source | -45,000,000Source | -295,000,000Source | -363,000,000Source | -531,000,000Source | -1,151,000,000Source |
| Gain (Loss) on InvestmentsUSD | — | — | 275,000,000Source | -1,408,000,000Source | -153,000,000Source | -421,000,000Source | 49,000,000Source | -963,000,000Source | -572,000,000Source | 1,271,000,000Source | 590,000,000Source | 363,000,000Source |
| GoodwillUSD | — | — | — | — | — | — | — | — | 260,000,000Source | 263,000,000Source | 265,000,000Source | 265,000,000Source |
| Income Tax Expense (Benefit)USD | — | — | 355,000,000Source | 185,000,000Source | 170,000,000Source | 223,000,000Source | 206,000,000Source | 116,000,000Source | 887,000,000Source | 974,000,000Source | 603,000,000Source | 403,000,000Source |
| Net Income (Loss) Attributable to ParentUSD | — | — | 1,639,000,000Source | -93,000,000Source | 825,000,000Source | 599,000,000Source | 1,019,000,000Source | 29,000,000Source | 3,646,000,000Source | 5,443,000,000Source | 4,659,000,000Source | 4,201,000,000Source |
| Operating ExpensesUSD | — | — | 1,310,000,000Source | 1,262,000,000Source | 1,270,000,000Source | 1,328,000,000Source | 1,289,000,000Source | 1,308,000,000Source | 5,338,000,000Source | 5,060,000,000Source | 5,228,000,000Source | 5,745,000,000Source |
| Other Nonoperating Income (Expense)USD | — | — | — | — | — | — | — | — | — | — | 39,000,000Source | 0Source |
| Proceeds from Stock Options ExercisedUSD | — | — | — | — | — | — | 3,000,000Source | 5,000,000Source | 9,000,000Source | 13,000,000Source | 16,000,000Source | 16,000,000Source |
| Provision for Loan, Lease, and Other LossesUSD | — | — | 53,000,000Source | 141,000,000Source | 77,000,000Source | 58,000,000Source | 61,000,000Source | 55,000,000Source | 191,000,000Source | 256,000,000Source | — | — |
| Financing Receivable, Credit Loss, Expense (Reversal)USD | — | — | 51,000,000Source | 85,000,000Source | 76,000,000Source | 61,000,000Source | 50,000,000Source | 53,000,000Source | 192,000,000Source | 207,000,000Source | — | — |
income statement · annual statements
| Line item | Q4 2025 | Q4 2024 | Q3 2025 | Q3 2024 | Q2 2026 | Q2 2025 | Q1 2026 | Q1 2025 | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total RevenueUSD | — | — | 4,740,000,000Source | 2,949,000,000Source | 4,117,000,000Source | 4,160,000,000Source | 4,346,000,000Source | 3,398,000,000Source | 17,164,000,000Source | 18,927,000,000Source | 18,701,000,000Source | 19,502,000,000Source |
| Selling, General and Administrative ExpenseUSD | — | — | 781,000,000Source | 747,000,000Source | 749,000,000Source | 804,000,000Source | 771,000,000Source | 802,000,000Source | 3,253,000,000Source | 3,014,000,000Source | 3,165,000,000Source | 3,250,000,000Source |
| Operating Income (Loss)USD | — | — | — | — | — | — | — | — | — | — | — | 4,157,000,000Source |
| Other Nonoperating Income (Expense)USD | — | — | — | — | — | — | — | — | — | — | 39,000,000Source | 0Source |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestUSD | — | — | 1,994,000,000Source | 92,000,000Source | 995,000,000Source | 822,000,000Source | 1,225,000,000Source | 145,000,000Source | 4,533,000,000Source | 6,417,000,000Source | 5,262,000,000Source | — |
| Income Tax Expense (Benefit)USD | — | — | 355,000,000Source | 185,000,000Source | 170,000,000Source | 223,000,000Source | 206,000,000Source | 116,000,000Source | 887,000,000Source | 974,000,000Source | 603,000,000Source | 403,000,000Source |
| Net Income (Loss) Attributable to ParentUSD | — | — | 1,639,000,000Source | -93,000,000Source | 825,000,000Source | 599,000,000Source | 1,019,000,000Source | 29,000,000Source | 3,646,000,000Source | 5,443,000,000Source | 4,659,000,000Source | 4,201,000,000Source |
| Earnings Per Share, BasicUSD per share | — | — | 3.09Source | -0.17Source | 1.64Source | 1.12Source | 1.99Source | 0.05Source | 6.84Source | 9.68Source | 7.81Source | 6.62Source |
| Earnings Per Share, DilutedUSD per share | — | — | 3.08Source | -0.17Source | 1.63Source | 1.11Source | 1.98Source | 0.05Source | 6.82Source | 9.63Source | 7.78Source | 6.59Source |
| Weighted Average Number of Shares Outstanding, Basicshares | — | — | 530,050,000Source | 557,899,000Source | 504,123,000Source | 536,688,000Source | 513,071,000Source | 544,707,000Source | 532,885,000Source | 562,492,000Source | 596,173,000Source | 634,816,000Source |
| Weighted Average Number of Shares Outstanding, Dilutedshares | — | — | 532,015,000Source | 560,414,000Source | 505,578,000Source | 538,425,000Source | 514,785,000Source | 546,878,000Source | 534,878,000Source | 565,015,000Source | 598,745,000Source | 637,655,000Source |
| Additional Financial Items | ||||||||||||
| Benefits, Losses and ExpensesUSD | — | — | 2,746,000,000Source | 2,857,000,000Source | 3,122,000,000Source | 3,338,000,000Source | 3,121,000,000Source | 3,253,000,000Source | 12,631,000,000Source | 12,510,000,000Source | 13,439,000,000Source | 14,898,000,000Source |
| Common Stock, Dividends, Per Share, DeclaredUSD per share | — | — | 0.58Source | 0.5Source | 0.61Source | 0.58Source | 0Source | 0Source | 2.35Source | 2.08Source | — | — |
| Current Income Tax Expense (Benefit)USD | — | — | — | — | — | — | — | — | 1,115,000,000Source | 1,330,000,000Source | 1,663,000,000Source | 1,181,000,000Source |
| Deferred Policy Acquisition Costs, Amortization ExpenseUSD | — | — | 218,000,000Source | 214,000,000Source | 218,000,000Source | 221,000,000Source | 221,000,000Source | 216,000,000Source | 874,000,000Source | 851,000,000Source | 816,000,000Source | 1,152,000,000Source |
| Depreciation, Depletion and Amortization, NonproductionUSD | — | — | — | — | — | — | — | — | 36,000,000Source | 40,000,000Source | 39,000,000Source | 45,000,000Source |
| Gain (Loss) on Derivative Instruments, Net, PretaxUSD | — | — | -123,000,000Source | 436,000,000Source | -134,000,000Source | 23,000,000Source | -95,000,000Source | -45,000,000Source | -295,000,000Source | -363,000,000Source | -531,000,000Source | -1,151,000,000Source |
| Gain (Loss) on InvestmentsUSD | — | — | 275,000,000Source | -1,408,000,000Source | -153,000,000Source | -421,000,000Source | 49,000,000Source | -963,000,000Source | -572,000,000Source | 1,271,000,000Source | 590,000,000Source | 363,000,000Source |
| Interest ExpenseUSD | — | — | — | — | — | — | — | — | — | — | 195,000,000Source | 226,000,000Source |
| Interest Expense, DebtUSD | — | — | 56,000,000Source | 49,000,000Source | 63,000,000Source | 51,000,000Source | 59,000,000Source | 49,000,000Source | 217,000,000Source | 194,000,000Source | 190,000,000Source | 167,000,000Source |
| InterestExpenseOperatingUSD | — | — | 57,000,000Source | 50,000,000Source | 64,000,000Source | 52,000,000Source | 60,000,000Source | 50,000,000Source | 220,000,000Source | 197,000,000Source | — | — |
| Net Investment IncomeUSD | — | — | 1,067,000,000Source | 1,006,000,000Source | 984,000,000Source | 1,081,000,000Source | 956,000,000Source | 955,000,000Source | 4,076,000,000Source | 4,116,000,000Source | 3,811,000,000Source | 3,656,000,000Source |
| Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost ComponentUSD | — | — | 4,000,000Source | 3,000,000Source | 2,000,000Source | 2,000,000Source | 1,000,000Source | 57,000,000Source | 68,000,000Source | 24,000,000Source | -39,000,000Source | 14,000,000Source |
| Operating ExpensesUSD | — | — | 1,310,000,000Source | 1,262,000,000Source | 1,270,000,000Source | 1,328,000,000Source | 1,289,000,000Source | 1,308,000,000Source | 5,338,000,000Source | 5,060,000,000Source | 5,228,000,000Source | 5,745,000,000Source |
| Other IncomeUSD | — | — | 26,000,000Source | 23,000,000Source | 34,000,000Source | 30,000,000Source | 31,000,000Source | 25,000,000Source | 112,000,000Source | 100,000,000Source | 177,000,000Source | — |
Offerings
Registration 333-296988
Registration 333-295257
Filing attachments
aflex991-q32026new.htm · 8-K · 2026-11-04
Aflac Incorporated Announces Third Quarter 2026 Results, Declares Fourth Quarter Dividend COLUMBUS, Ga. - November 4, 2026 - Aflac Incorporated (NYSE: AFL) today reported its third quarter results. For the Quarter • Net earnings were $303 million, or $0.61 per diluted share, compared with $1.6 billion, or $3.08 per diluted share a year ago. • Adjusted earnings* were $1.2 billion, compared with $1.3 billion a year ago, reflecting a decrease of 8.5%. • Adjusted earnings per diluted share* de…
Read attachment ↗aflex991-q22026new.htm · 8-K · 2026-08-06
EX-99.1 2 aflex991-q22026new.htm EX-99.1 Document Aflac Incorporated Announces Second Quarter 2026 Results, Declares Third Quarter Dividend COLUMBUS, Ga. - August 6, 2026 - Aflac Incorporated (NYSE: AFL) today reported its second quarter results. For the Quarter • Total revenues were $4.1 billion, which was a 1.0% decrease year over year. • Net earnings were $825 million, or $1.63 per diluted share, compared with $599 million, or $1.11 per diluted share a year ago. • Adjusted earnings…
Read attachment ↗tm2614650d1_ex4-1.htm · 8-K · 2026-05-28
EX-4.1 3 tm2614650d1_ex4-1.htm EXHIBIT 4.1 Exhibit 4.1 AFLAC INCORPORATED, AS ISSUER AND THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., AS TRUSTEE FORTY-EIGHTH SUPPLEMENTAL INDENTURE Dated as of May 28, 2026 ¥3,100,000,000 2.117% Senior Notes due 2029 TABLE OF CONTENTS 2.117% SENIOR NOTES DUE 2029 Page Article I 2.117% SENIOR NOTES DUE 2029 …
Read attachment ↗tm2614650d1_ex4-2.htm · 8-K · 2026-05-28
EX-4.2 4 tm2614650d1_ex4-2.htm EXHIBIT 4.2 Exhibit 4.2 AFLAC INCORPORATED, AS ISSUER AND THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., AS TRUSTEE FORTY-NINTH SUPPLEMENTAL INDENTURE Dated as of May 28, 2026 ¥41,800,000,000 2.802% Senior Notes due 2031 TABLE OF CONTENTS 2.802% SENIOR NOTES DUE 2031 Page Article I 2.802% SENIOR NOTES DUE 2031 …
Read attachment ↗tm2614650d1_ex4-3.htm · 8-K · 2026-05-28
EX-4.3 5 tm2614650d1_ex4-3.htm EXHIBIT 4.3 Exhibit 4.3 AFLAC INCORPORATED, AS ISSUER AND THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., AS TRUSTEE FIFTIETH SUPPLEMENTAL INDENTURE Dated as of May 28, 2026 ¥13,100,000,000 3.123% Senior Notes due 2033 TABLE OF CONTENTS 3.123% SENIOR NOTES DUE 2033 Page Article I 3.123% SENIOR NOTES DUE 2033 …
Read attachment ↗tm2614650d1_ex4-4.htm · 8-K · 2026-05-28
EX-4.4 6 tm2614650d1_ex4-4.htm EXHIBIT 4.4 Exhibit 4.4 AFLAC INCORPORATED, AS ISSUER AND THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., AS TRUSTEE FIFTY-FIRST SUPPLEMENTAL INDENTURE Dated as of May 28, 2026 ¥7,900,000,000 3.482% Senior Notes due 2036 TABLE OF CONTENTS 3.482% SENIOR NOTES DUE 2036 Page Article I 3.482% SENIOR NOTES DUE 2036 …
Read attachment ↗