Aflac Incorporated, through its subsidiaries, provides supplemental health and life insurance products. It operates through two segments, Aflac Japan and Aflac U.S. The Aflac Japan segment offers cancer, medical, nursing care income support, GIFT, and whole and term life insurance products, as well as WAYS and child endowment plans under saving type insurance products in Japan. The Aflac U.S. segment provides cancer, accident, short-term disability, critical illness, hospital indemnity, dental, vision, long-term care and disability, and term and whole life insurance products in the United States. It sells its products through sales associates, brokers, independent corporate agencies, individual agencies, and affiliated corporate agencies. The company was founded in 1955 and is based in Columbus, Georgia.

Aflac Incorporated

Fixed Maturity Securities Available-for-Sale, at Fair Value

Fixed Maturity Securities Available-for-Sale, at Fair Value %Chg

Fixed Maturity Securities Available-for-Sale, at Fair Value Common Size

Fixed Maturities - Consolidated Variable Interest Entities

Fixed Maturities - Consolidated Variable Interest Entities %Chg

Fixed Maturities - Consolidated Variable Interest Entities Common Size

Perpetual Securities

Perpetual Securities %Chg

Perpetual Securities Common Size

Perpetual Securities - Consolidated Variable Interest Entities

Perpetual Securities - Consolidated Variable Interest Entities %Chg

Perpetual Securities - Consolidated Variable Interest Entities Common Size

Equity Securities

Equity Securities %Chg

Equity Securities Common Size

Fixed Maturity Securities Available-for-Sale Consolidated Variable Interest Entities, at Fair Value

Fixed Maturity Securities Available-for-Sale Consolidated Variable Interest Entities, at Fair Value %Chg

Fixed Maturity Securities Available-for-Sale Consolidated Variable Interest Entities, at Fair Value Common Size

Fixed Maturity Securities Held-to-Maturity, at Amortized Cost, Net

Fixed Maturity Securities Held-to-Maturity, at Amortized Cost, Net %Chg

Fixed Maturity Securities Held-to-Maturity, at Amortized Cost, Net Common Size

Equity Securities - Consolidated Variable Interest Entities

Equity Securities - Consolidated Variable Interest Entities %Chg

Equity Securities - Consolidated Variable Interest Entities Common Size

Equity Securities, at Fair Value

Equity Securities, at Fair Value %Chg

Equity Securities, at Fair Value Common Size

Commercial Mortgage and Other Loans, Net

Commercial Mortgage and Other Loans, Net %Chg

Commercial Mortgage and Other Loans, Net Common Size

Other Investments

Other Investments %Chg

Other Investments Common Size

Cash and Cash Equivalents

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Total Investments and Cash

Total Investments and Cash %Chg

Total Investments and Cash Common Size

Receivables

Receivables %Chg

Receivables Common Size

Accrued Investment Income

Accrued Investment Income %Chg

Accrued Investment Income Common Size

Deferred Policy Acquisition Costs

Deferred Policy Acquisition Costs %Chg

Deferred Policy Acquisition Costs Common Size

Property and Equipment, at Cost Less Accumulated Depreciation

Property and Equipment, at Cost Less Accumulated Depreciation %Chg

Property and Equipment, at Cost Less Accumulated Depreciation Common Size

Other

Other %Chg

Other Common Size

Total Assets

Total Assets %Chg

Total Assets Common Size

Future Policy Benefits

Future Policy Benefits %Chg

Future Policy Benefits Common Size

Unpaid Policy Claims

Unpaid Policy Claims %Chg

Unpaid Policy Claims Common Size

Unearned Premiums

Unearned Premiums %Chg

Unearned Premiums Common Size

Other Policyholders' Funds

Other Policyholders' Funds %Chg

Other Policyholders' Funds Common Size

Total Policy Liabilities

Total Policy Liabilities %Chg

Total Policy Liabilities Common Size

Notes Payable and Lease Obligations

Notes Payable and Lease Obligations %Chg

Notes Payable and Lease Obligations Common Size

Income Taxes

Income Taxes %Chg

Income Taxes Common Size

Payables for Return of Cash Collateral on Loaned Securities

Payables for Return of Cash Collateral on Loaned Securities %Chg

Payables for Return of Cash Collateral on Loaned Securities Common Size

Total Liabilities

Total Liabilities %Chg

Total Liabilities Common Size

Common Stock

Common Stock %Chg

Common Stock Common Size

Additional Paid-in Capital

Debt Securities

Debt Securities %Chg

Debt Securities Common Size

Equity and Preferred Securities

Equity and Preferred Securities %Chg

Equity and Preferred Securities Common Size

Total Investments

Total Investments %Chg

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Deferred Acquisition Costs

Deferred Acquisition Costs %Chg

Deferred Acquisition Costs Common Size

Other Receivables

Other Receivables %Chg

Other Receivables Common Size

Net Property, Plant & Equipment

Net Property, Plant & Equipment %Chg

Net Property, Plant & Equipment Common Size

Other Assets

Other Assets %Chg

Other Assets Common Size

Claims Reserves

Revenue

EBIT

EBITDA

CapEx

Net Interest Income

Assets

Adjusted EBITDA

Gross Profit

Adjusted Net Income

Net Revenue

Net Income

Average Assets

Adjusted EBIT

Adjusted Revenue

Adjusted EBT

Adjusted Funds From Operations

Assets	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Debt Securities	86,313	81,235	81,944	91,109	91,941	94,797
Fixed Maturity Securities Available-for-Sale, at Fair Value
Fixed Maturities - Consolidated Variable Interest Entities
Perpetual Securities
Perpetual Securities - Consolidated Variable Interest Entities
Fixed Maturity Securities Available-for-Sale Consolidated Variable Interest Entities, at Fair Value
Fixed Maturity Securities Held-to-Maturity, at Amortized Cost, Net
Fixed Maturities - Consolidated Variable Interest Entities
Equity and Preferred Securities	882	796	728	1,088	965	1,091
Equity Securities
Equity Securities
Equity Securities - Consolidated Variable Interest Entities
Equity Securities, at Fair Value
Other Investments	17,609	16,827	18,897	17,057	18,837	17,566
Commercial Mortgage and Other Loans, Net
Other Investments
Other Investments
Total Investments	104,804	98,858	101,569	109,254	111,743	113,454
Cash and Cash Equivalents	6,965	6,229	6,060	4,306	4,720	3,943
Cash and Cash Equivalents
Deferred Acquisition Costs	9,296	8,758	8,550	9,132	8,860	9,239
Deferred Policy Acquisition Costs
Other Receivables	1,626	1,489	1,606	1,579	1,474	1,392
Receivables
Accrued Investment Income
Net Property, Plant & Equipment	390	387	398	445	500	530
Property and Equipment, at Cost Less Accumulated Depreciation
Other Assets	1,655	1,845	1,985	2,008	3,329	3,180
Other
Total Assets	124,736	117,566	120,168	126,724	130,626	131,738
Total Assets

Liabilities	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Unearned Premiums	1,377	1,286	1,216	1,451	1,544	1,825
Unearned Premiums
Claims Reserves	77,527	76,222	76,137	90,148	92,263	95,085
Future Policy Benefits
Unpaid Policy Claims
Other Policyholders' Funds
Total Debt	8,933	7,498	7,430	7,364	7,087	7,442
Notes Payable and Lease Obligations
Other Liabilities	9,699	6,462	9,338	5,776	9,293	7,246
Other
Income Taxes
Payables for Return of Cash Collateral on Loaned Securities
Total Liabilities	97,536	91,468	94,121	104,739	110,187	111,598
Total Liabilities

Equity	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Common Stock	136	136	136	136	136	135
Common Stock
Treasury Stock	-27,998	-26,231	-24,977	-23,395	-21,993	-20,574
Treasury Stock, at Average Cost
Additional Paid-in Capital	2,958	2,894	2,835	2,771	2,697	2,641
Additional Paid-in Capital
Accumulated Other Comprehensive Income	-491	-2,978	-3,292	-5,520	-7,338	-6,429
Unrealized Foreign Currency Translation Gains (Losses)
Unrealized Gains (Losses) on Fixed Maturity Securities
Unrealized Gains (Losses) on Derivatives
Effect of Changes in Discount Rate Assumptions
Pension Liability Adjustment
Retained Earnings	52,595	52,277	51,345	47,993	46,937	44,367
Retained Earnings
Total Common Shareholders' Equity	27,200	26,098	26,047	21,985	20,439	20,140
Total Shareholders' Equity	27,200	26,098	26,047	21,985	20,439	20,140
Total Shareholders' Equity
Total Liabilities and Shareholders' Equity	124,736	117,566	120,168	126,724	130,626	131,738
Total Liabilities and Shareholders' Equity