Aflac Incorporated AFL Cash Flow

Aflac incorporated (AFL)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09	Sep'09	Jun'09	Mar'09
Cash flows from operating activities:
Net earnings
566	781	778	817	928	525	845	833	717	2,583	716	713	592	751	629	548	731	730	567	573	663	703	706	810	732	675	702	889	892	581	1,017	483	785	538	736	274	389	421	690	581	636	252	363	313	569
Adjustments to reconcile net earnings to net cash provided by operating activities:
Change in receivables and advance premiums
-15	-4	19	52	-35	28	26	15	-14	59	40	98	-106	-1	12	-21	-32	-49	-97	140	-141	5	26	147	-171	-21	58	174	-203	-4	130	56	17	1,807	-906	-465	-461	-359	-296	-188	-235	-178	-103	132	-257
Capitalization of deferred policy acquisition costs
325	395	345	355	357	422	366	367	349	391	384	358	335	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of deferred policy acquisition costs
333	315	318	309	340	313	315	303	314	284	271	283	294	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Increase in deferred policy acquisition costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	83	66	37	-	65	58	29	90	50	59	26	85	100	119	100	162	170	170	141	185	116	105	99	36	127	114	50	104	108	78	68
Increase in policy liabilities
368	445	640	551	468	522	475	774	572	753	811	660	666	1,002	675	735	919	828	982	879	835	940	1,042	654	978	1,153	1,626	1,627	2,400	2,634	3,424	3,019	2,928	4,143	1,337	971	951	985	990	794	679	800	798	687	734
Change in income tax liabilities
153	-159	183	-584	316	26	218	-49	-131	-1,563	-45	97	271	272	-229	231	-367	7	-173	286	-156	393	-187	237	-320	571	-184	413	193	327	280	125	-20	206	149	63	-152	137	-181	252	-71	33	-111	30	187
Gain (Loss) on Investments
-463	12	-152	-66	71	-354	55	3	-134	15	30	-56	-140	344	-164	-224	30	80	-114	127	13	143	16	102	-46	20	22	201	156	-172	286	-418	-45	-222	-83	-668	-579	-295	8	-89	-46	-473	-347	-380	-12
Other, net
159	-213	-199	-61	115	-65	-446	-93	33	60	-132	-55	-23	-305	-122	170	-83	-561	-145	-230	-19	-175	24	-124	-34	-1,073	503	569	-400	55	-71	130	24	-239	-13	125	-38	41	-186	439	-197	-366	137	25	-42
Net cash provided (used) by operating activities
1,414	1,192	1,906	813	1,544	1,355	1,852	1,569	1,238	1,532	1,431	1,408	1,757	1,867	1,266	1,523	1,331	2,006	1,667	1,643	1,460	1,973	1,445	1,517	1,615	3,388	1,461	1,866	3,832	3,501	4,206	3,689	3,556	3,356	3,108	2,211	2,167	2,120	1,846	1,745	1,278	1,758	1,529	1,225	1,649
Cash flows from investing activities:
Proceeds from investments sold or matured:
Available-for-sale fixed maturity securities
726	2,157	1,022	1,345	760	1,897	2,122	2,926	943	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity securities
3	80	416	1	153	60	153	59	157	147	598	2	155	177	123	50	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fixed maturity securities sold
-	-	-	-	-	-	-	-	-	-	-	-	1,385	-	303	409	266	1,395	419	926	484	2,405	237	859	677	277	7,453	1,360	541	2,009	4,394	756	226	7,507	5,111	876	891	1,087	582	343	712	737	348	138	3,575
Fixed maturity securities matured or called
-	-	-	-	-	-	-	-	-	-	-	-	204	-	162	204	408	427	187	452	66	278	393	108	222	858	154	553	1,342	343	678	233	705	-1,203	598	219	556	-	-	162	150	71	656	162	1,087
Perpetual securities sold
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	210	492	345	552	460	4	165	61	0	118	528	54	493	0	102	0
Perpetual securities matured or called
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	199	35	253	46	192	156	203	0	0	0	-3	-158	146	271	-2	2	-2	378	-62	1	61	0	-	-	-	-	-	-	-	-
Held-to-maturity fixed maturity securities
0	185	234	48	155	790	2	828	50	498	403	1,083	228	453	210	459	277	88	258	335	85	19	3,697	309	4,450	896	33	575	5,011	280	521	522	536	18	385	198	127	-	-	-	-	-	-	-	-
Commercial mortgage and other loans
408	521	405	395	493	339	239	212	146	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other investments - loan receivables proceeds
-	-	-	-	-	-	-	-	-	-	-	-	34	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Costs of investments acquired:
Fixed maturities matured or called
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1	1	-	1	106	103
Available for sale fixed maturity securities
1,817	1,026	1,556	1,804	2,548	1,241	1,047	2,823	3,975	3,040	1,165	1,936	3,726	6,019	1,044	1,916	1,911	2,588	915	1,562	1,442	2,019	1,959	2,403	4,597	6,030	8,277	5,500	3,160	6,718	9,550	2,240	1,025	2,031	1,539	1,908	2,914	3,280	2,057	2,013	2,593	2,087	869	950	3,615
Equity securities
6	26	140	30	151	102	105	67	166	55	213	21	157	211	177	327	364	387	67	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Commercial mortgage and other loans
1,787	1,767	1,100	865	669	698	1,445	933	1,772	1,199	424	369	123	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other investments, net
361	-29	66	174	442	278	-39	50	125	39	55	-2	114	-703	477	201	123	43	-4	24	7	-3,962	3,831	2	-143	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Held to maturity fixed maturities acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,576	551	469	160	921	7,211	3,285	5,133	7,688	7,823	2,715	769	888	480	340	302	1,040	1,221	1,074	832
Settlement of derivatives, net
-13	22	-27	11	3	100	105	35	1	381	206	-10	44	-49	-539	-391	-273	-123	42	217	1,983	269	121	-74	320	128	-66	711	851	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Cash received (pledged or returned) as collateral, net
-1,160	218	-649	481	-976	1,065	1,697	1,468	-4,578	-68	144	783	-654	66	-175	336	189	-13	403	1,504	-503	4,631	-4,472	381	2,677	-6,643	835	-1,299	6,070	313	-6,398	1	645	20	-520	-93	-54	-37	483	-127	-7	-349	500	-519	1,582
Other, net
55	138	110	-140	15	12	-115	-107	34	10	16	19	23	20	23	-126	159	55	4	87	-60	-20	-126	95	21	555	-561	32	9	-665	165	-50	30	31	2	10	19	10	7	13	-2	31	-6	-14	61
Net cash provided (used) by investing activities
-1,716	-225	-219	-1,436	-1,291	-410	-1,729	-1,244	-199	-2,544	-370	-990	-1,527	-1,217	-209	-942	-1,487	-814	-517	-1,488	-2,078	-97	-550	-1,471	-2,123	-3,570	-1,711	-2,725	-3,085	-4,453	-4,441	-3,622	-4,436	-3,050	-2,745	-3,021	-2,013	-2,352	-1,904	-1,207	-1,969	-1,589	-1,579	-983	-1,325
Cash flows from financing activities:
Purchases of treasury stock
449	470	310	357	490	378	322	305	296	298	240	203	610	200	208	402	612	234	233	238	610	512	176	101	421	506	20	131	156	105	3	0	10	40	46	38	184	116	0	0	5	6	2	0	2
Proceeds from borrowings
545	347	0	268	0	1,020	0	-2	2	516	0	0	524	-2	988	0	0	0	0	9	989	750	0	0	0	0	0	700	0	50	707	0	749	-4	624	0	0	-	-	-	-	-	-	-	-
Principal payments under debt obligations
350	-	-	-	0	-	-	-	-	501	4	2	654	378	231	1	0	-	-	-	-	-	-	-	-	-	-	-	0	1	1	338	1	0	461	0	1	-5	454	1	1	16	-4	547	1
Dividends paid to shareholders
195	192	190	194	195	198	199	201	195	170	163	162	166	166	162	163	167	167	161	163	165	168	162	161	163	163	157	156	159	158	149	148	148	148	144	125	135	140	133	131	131	131	131	131	131
Change in investment-type contracts, net
-5	-1	34	-21	-13	-14	-26	2	7	-4	16	5	18	42	35	37	45	43	66	63	84	87	143	487	536	652	757	247	134	362	494	304	297	261	197	151	124	120	108	102	89	90	105	79	90
Treasury stock reissued
9	11	12	14	12	22	24	-2	14	10	6	6	11	9	18	12	7	8	8	7	13	8	4	5	16	29	20	20	19	13	8	6	5	8	-8	10	16	6	3	29	7	11	2	0	4
Other, net
-1	21	3	-2	0	-5	-2	-7	-5	-5	3	1	1	-89	6	2	-39	-11	3	-237	11	10	3	3	0	-9	7	2	6	3	0	0	9	2	-2	-2	9	20	1	17	18	4	5	3	-5
Net cash provided (used) by financing activities
-446	-284	-451	-292	-686	-103	-525	-515	-473	-452	-382	-355	-876	-784	446	-515	-766	-361	-739	-1,409	322	175	-523	233	-32	3	607	682	-156	164	1,056	-176	901	79	160	-4	-171	-105	273	16	-23	353	143	248	-45
Effect of exchange rate changes on cash and cash equivalents
0	-3	-39	42	-12	66	-16	-43	23	28	-16	-4	-8	-277	67	185	21	-1	6	-6	1	-59	42	-21	-9	-27	4	-31	-36	-156	34	29	-60	2	48	17	-16	24	35	19	2	-3	22	3	-24
Net change in cash and cash equivalents
-748	-	-	-	-445	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash and Cash Equivalents, Period Increase (Decrease)
-	-	-	-	-	908	-418	-233	589	-1,436	663	59	-654	-411	1,570	251	-901	830	417	-1,260	-295	1,992	414	258	-549	-206	361	-208	555	-944	855	-80	-39	387	571	-797	-33	-313	250	573	-712	519	115	493	255
Supplemental disclosures of cash flow information:
Income taxes paid
2	434	76	876	-2	171	83	348	396	87	400	235	58	-68	650	165	779	0	469	10	517	4	539	174	699	81	278	100	295	26	174	232	356	138	230	226	234	91	394	129	403	77	246	114	190
Interest paid
39	58	39	57	36	57	34	54	36	52	41	56	47	56	54	47	54	48	61	80	47	70	50	70	51	71	36	60	43	59	36	39	44	76	16	60	12	48	25	42	10	39	7	9	6
Noncash interest
15	-1	16	0	22	0	20	0	21	6	19	4	15	16	11	18	12	17	6	-6	36	10	27	9	30	10	35	9	28	17	30	23	13	-	-	-	-	-	-	-	-	-	-	-	-
Impairment losses and loan loss reserves included in realized investment losses
-	-	-	-	-	64	5	5	7	10	8	9	10	14	24	33	14	11	137	0	6	0	0	28	3	134	10	0	55	334	97	343	203	801	167	528	405	404	13	0	42	374	368	385	234
Lease obligations
13	50	81	0	1	1	0	9	1	5	4	1	2	-1	0	1	1	4	1	1	0	-	-	-	-	-	-	-	-1	1	1	1	1	2	3	0	1	2	0	1	0	-	-	-	-
Treasury stock issued for:
Associate stock bonus
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1	0	6
Shareholder dividend reinvestment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-
Share-based compensation grants
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	1	2	-	0	1	3
Associate stock bonus
Treasury stock issued
5	3	4	2	6	0	2	0	5	7	6	10	6	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Shareholder dividend reinvestment
Treasury stock issued
7	9	7	6	8	0	0	0	8	7	6	9	7	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Share-based compensation grants
Treasury stock issued
5	0	0	1	4	0	0	0	2	0	0	0	1	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-