Aflac Incorporated AFL Income Statement

Aflac incorporated (AFL)

Income statement / 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	Sep'08	Jun'08
Revenues:
Premiums Earned, Net
4,681	4,672	4,736	4,681	4,691	4,590	4,636	4,706	4,745	4,580	4,648	4,665	4,638	4,778	5,022	4,823	4,602	4,394	4,380	4,364	4,432	4,489	4,841	4,888	4,854	4,910	5,028	5,013	5,184	5,643	5,660	5,467	5,378	5,324	5,210	4,956	4,872	4,785	4,607	4,333	4,348	4,346	4,165	3,995	4,115	3,647	3,684
Net investment income
904	886	936	878	878	873	870	862	837	813	811	802	794	813	842	822	801	792	784	777	782	808	841	843	827	826	821	813	833	877	869	845	882	859	843	784	794	789	765	727	726	717	692	668	688	637	637
Realized investment gains (losses):
Other-than-temporary impairment losses realized and loan loss reserves
-	-	18	2	-	64	5	5	7	10	8	9	10	15	23	33	14	11	137	0	6	0	0	28	3	134	10	0	55	334	97	343	203	802	166	528	405	-	13	0	-	2,363	-376	-388	-238	380	0
Other-than-temporary impairment losses recognized in other comprehensive income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-41	8	3	4	0	0
Total other-than-temporary impairment losses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	42	2,374	-368	-385	-234	380	0
Other gains (losses)
-	-	-135	-64	-	-291	61	8	-127	25	38	-47	-130	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Sales and redemptions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-14	22	91	116	26	92	68	44	33	97	41	-15	72	86	119	116	288	-8	78	613	307	-182	-144	37	8	14	-21	-99	21	2	225	-217	-1
Derivative and other gains (losses)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-127	-212	-47	-25	-3	35	-49	99	-17	33	-84	169	-40	115	92	46	95	-67	80	-33	-224	42	-30	71	14	-103	17	0	0	0	0	-	-
Gain (Loss) on Investments
-463	13	-153	-66	71	-355	56	3	-134	15	30	-56	-140	343	-164	-223	30	80	-114	127	13	143	16	102	-46	20	22	201	156	-172	286	-418	-45	-222	-83	-668	-579	-296	9	-89	-46	-473	-347	-383	-9	-597	-1
Other income (loss)
40	32	17	18	17	20	15	18	16	16	17	17	17	21	16	15	18	53	-10	19	-1	74	38	5	5	45	15	17	35	27	32	8	25	18	17	16	30	15	13	9	37	7	16	33	24	4	16
Total revenues
5,162	5,603	5,536	5,511	5,657	5,128	5,577	5,589	5,464	5,424	5,506	5,428	5,309	5,955	5,716	5,437	5,451	5,319	5,040	5,287	5,226	5,514	5,736	5,838	5,640	5,801	5,886	6,044	6,208	6,375	6,847	5,902	6,240	5,979	5,987	5,088	5,117	5,293	5,394	4,980	5,065	4,597	4,526	4,313	4,818	3,691	4,336
Benefits and expenses:
Policyholder Benefits and Claims Incurred, Net
2,939	2,984	3,027	2,964	2,967	2,925	3,002	3,031	3,042	3,007	3,083	3,039	3,052	3,262	3,378	3,254	3,025	2,930	2,927	2,937	2,952	3,069	3,355	3,293	3,220	3,396	3,485	3,411	3,521	3,989	3,932	3,763	3,646	3,700	3,517	3,310	3,222	3,262	3,102	2,885	2,857	2,957	2,817	2,723	2,811	2,551	2,575
Acquisition and operating expenses:
Amortization of deferred policy acquisition costs
333	316	317	309	340	313	315	303	314	284	271	283	294	283	282	284	292	276	258	255	277	267	271	276	294	284	256	251	283	280	281	269	287	257	264	251	261	206	243	229	280	251	216	225	250	181	184
Insurance commissions
336	331	330	329	331	314	331	338	337	321	332	335	328	337	353	345	333	322	326	325	330	340	361	369	366	370	388	378	392	435	442	432	435	438	438	427	422	424	412	398	403	410	388	381	389	355	362
Insurance and other expenses
779	858	769	743	719	793	730	732	733	754	686	665	675	904	675	654	563	972	554	550	530	624	566	537	534	591	568	529	534	669	595	587	564	658	579	565	534	665	505	508	481	571	487	462	457	419	432
Interest expense
55	56	57	57	58	59	53	54	56	58	59	61	62	72	65	66	65	65	67	74	83	79	77	81	80	82	71	69	71	75	67	62	57	53	52	46	45	44	39	33	33	25	25	14	8	7	7
Other operating expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	56	-	44	272	41	60	32	44	42	50	49	48	46	48	50	48	49	50	45	45	42	49	38	38	37	41	44	35	32	30	36
Total acquisition and operating expenses
1,503	1,561	1,473	1,438	1,448	1,479	1,429	1,427	1,440	1,417	1,348	1,344	1,359	1,540	1,375	1,349	1,309	1,278	1,249	1,476	1,261	1,370	1,307	1,307	1,316	1,377	1,332	1,275	1,326	1,507	1,435	1,398	1,392	1,456	1,378	1,334	1,304	1,388	1,237	1,206	1,234	1,298	1,160	1,117	1,136	992	1,021
Total benefits and expenses
4,442	4,545	4,500	4,402	4,415	4,404	4,431	4,458	4,482	4,424	4,431	4,383	4,411	4,802	4,753	4,603	4,334	4,208	4,176	4,413	4,213	4,439	4,662	4,600	4,536	4,773	4,817	4,686	4,847	5,496	5,367	5,161	5,038	5,156	4,895	4,644	4,526	4,650	4,339	4,091	4,091	4,255	3,977	3,840	3,947	3,543	3,596
Earnings before income taxes
720	1,058	1,036	1,109	1,242	724	1,146	1,131	982	1,000	1,075	1,045	898	1,153	963	834	1,117	1,111	864	874	1,013	1,075	1,074	1,238	1,104	1,028	1,069	1,358	1,361	879	1,480	741	1,202	823	1,092	444	591	643	1,055	889	974	342	549	473	871	148	740
Income Tax Expense:
Income taxes
154	276	259	292	314	198	301	299	265	-1,583	359	332	306	402	334	286	386	381	297	301	350	372	368	428	372	353	367	469	469	298	463	258	417	285	356	170	202	222	365	308	338	91	186	159	302	48	257
Net Income (Loss) Attributable to Parent
566	782	777	817	928	526	845	832	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	251	363	314	569	100	483
Net earnings per share:
Basic (in dollars per share)
0.78	1.07	1.05	1.10	1.23	0.69	1.10	1.08	0.92	3.26	0.91	0.90	0.74	-1.39	1.54	1.33	1.75	1.71	1.32	1.33	1.52	1.58	1.56	1.79	1.61	1.47	1.51	1.91	1.91	1.25	2.17	1.04	1.68	1.16	1.58	0.59	0.83	0.89	1.47	1.24	1.36	0.54	0.78	0.67	1.22	0.21	1.02
Diluted (in dollars per share)
0.78	1.07	1.04	1.09	1.23	0.70	1.09	1.07	0.91	3.25	0.90	0.89	0.73	-1.38	1.53	1.32	1.74	1.70	1.32	1.32	1.51	1.56	1.56	1.78	1.60	1.46	1.50	1.90	1.90	1.24	2.16	1.03	1.68	1.14	1.57	0.58	0.83	0.88	1.46	1.23	1.35	0.53	0.77	0.67	1.22	0.21	1.00
Weighted-average outstanding common shares used in computing earnings per share (In thousands):
Basic (in shares)
724	733	739	745	751	759	767	772	778	784	788	792	802	2,052	408	411	418	424	428	431	437	446	451	452	454	462	464	465	466	467	467	466	465	465	465	466	468	469	469	468	467	467	466	466	466	475	474
Diluted (in shares)
727	737	743	748	755	764	772	777	783	789	794	798	808	2,064	411	414	420	427	431	434	439	448	453	455	457	465	467	467	469	470	469	468	468	467	467	469	472	473	473	472	472	471	469	468	467	480	480
Cash dividends per share
0.28	-	0.27	0.27	0.27	-	0.26	0.26	0.26	-	0.22	0.22	0.22	-	0.41	0.41	0.41	-	0.39	0.39	0.39	-	0.37	0.37	0.37	-	0.35	0.35	0.35	-	0.33	0.33	0.33	-	0.30	0.30	0.30	-	0.28	0.28	0.28	-	0.28	0.28	0.28	0.24	0.24
4.00% senior notes paid January 2020
Expense on extinguishment of debt
-15	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-