Aflac incorporated (AFL)
Income statement / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09Dec'08Dec'07
Revenues:
Premiums Earned, Net

18,780

18,677

18,531

19,225

17,570

19,072

20,135

22,148

20,362

18,073

16,621

14,947

12,973

Net investment income

3,578

3,442

3,220

3,278

3,135

3,319

3,293

3,473

3,280

3,007

2,765

2,578

2,333

Realized investment gains (losses):
Other-than-temporary impairment losses realized and loan loss reserves

31

81

37

85

154

31

199

977

1,901

459

1,361

753

-23

Other-than-temporary impairment losses recognized in other comprehensive income

-

-

-

-

-

-

-

-

-

-

-26

0

0

Total other-than-temporary impairment losses

-

-

-

-

-

-

-

-

-

-

1,387

753

-23

Other gains (losses)

-104

-349

-114

71

-

-

-

-

-

-

-

-

-

Sales and redemptions

-

-

-

-

302

215

262

474

594

38

149

-254

51

Derivative and other gains (losses)

-

-

-

-

-42

31

336

154

-245

-1

0

0

-

Gain (Loss) on Investments

-135

-430

-151

-14

106

215

399

-349

-1,552

-422

-1,212

-1,007

28

Other income (loss)

84

69

67

70

61

122

112

92

81

74

80

36

59

Total revenues

22,307

21,758

21,667

22,559

20,872

22,728

23,939

25,364

22,171

20,732

18,254

16,554

15,393

Benefits and expenses:
Policyholder Benefits and Claims Incurred, Net

11,942

12,000

12,181

12,919

11,746

12,937

13,813

15,330

13,749

12,106

11,308

10,499

9,285

Acquisition and operating expenses:
Amortization of deferred policy acquisition costs

1,282

1,245

1,132

1,141

1,066

1,108

1,074

1,117

1,033

958

942

775

640

Insurance commissions

1,321

1,320

1,316

1,368

1,303

1,436

1,528

1,744

1,725

1,637

1,568

1,460

1,331

Insurance and other expenses

3,089

2,988

2,780

2,796

2,606

2,261

2,222

2,415

2,336

2,159

1,977

1,743

1,491

Interest expense

228

222

240

268

289

317

293

261

196

149

72

29

27

Other operating expenses

-

-

-

-

-

178

193

195

182

162

152

134

120

Total acquisition and operating expenses

5,920

5,775

5,468

5,573

5,264

5,300

5,310

5,732

5,472

5,065

4,711

4,141

3,609

Total benefits and expenses

17,862

17,775

17,649

18,492

17,010

18,237

19,123

21,062

19,221

17,171

16,019

14,640

12,894

Earnings before income taxes

4,445

3,983

4,018

4,067

3,862

4,491

4,816

4,302

2,950

3,561

2,235

1,914

2,499

Income Tax Expense:
Current

806

1,379

631

884

1,288

1,079

1,236

816

891

862

830

636

548

Deferred

335

-316

-1,217

524

41

461

422

620

122

371

-92

24

317

Income taxes

1,141

1,063

-586

1,408

1,329

1,540

1,658

1,436

1,013

1,233

738

660

865

Net Income (Loss) Attributable to Parent

3,304

2,920

4,604

2,659

2,533

2,951

3,158

2,866

1,937

2,328

1,497

1,254

1,634

Net earnings per share:
Basic (in dollars per share)

4.45

3.79

5.81

3.23

5.88

6.54

6.80

6.14

4.16

4.96

3.21

2.65

3.35

Diluted (in dollars per share)

4.43

3.77

5.77

3.21

5.85

6.50

6.76

6.11

4.12

4.92

3.19

2.62

3.31

Weighted-average outstanding common shares used in computing earnings per share (In thousands):
Basic (in shares)

742

769

792

822

430

451

464

466

466

469

466

473

487

Diluted (in shares)

746

774

797

827

433

454

467

469

469

473

469

478

493

5.50% subordinated notes due September 2052
Expense on extinguishment of debt

-

-

-13

-

-

-

-

-

-

-

-

-

-

Senior Notes due 2039 and 2040
Expense on extinguishment of debt

-

-

-

-137

-

-

-

-

-

-

-

-

-