10-K
Annual Report
Aflac Incorporated
AFL
NYSE
CIK: 4977
File #: 001-07434
Balance Sheet
378 line items · 2 periods
XBRL
| Item | Dec 31, 2025 | Dec 31, 2024 |
|---|---|---|
Assets: | ||
Investments and cash: | ||
Fixed maturity securities, available-for-sale | 64,121,000,000 | 65,269,000,000 |
Consolidated Entity Excluding Variable Interest Entities (VIE) | 60,485,000,000 | 61,841,000,000 |
Variable Interest Entity, Consolidated | 3,636,000,000 | 3,428,000,000 |
Yen-denominated - Japanese bonds | 14,377,000,000 | 17,640,000,000 |
Yen-denominated - Municipalities | 716,000,000 | 855,000,000 |
Yen-denominated - Mortgage- and asset-backed securities | 260,000,000 | 308,000,000 |
Yen-denominated - Public utilities | 2,468,000,000 | 2,840,000,000 |
Yen-denominated - Sovereign and supranational | 324,000,000 | 338,000,000 |
Yen-denominated - Banks/financial institutions | 5,075,000,000 | 5,301,000,000 |
Yen-denominated - Other corporate | 5,261,000,000 | 5,592,000,000 |
Yen-denominated | 28,481,000,000 | 32,874,000,000 |
U.S. dollar-denominated - U.S. government and agencies | 230,000,000 | 206,000,000 |
U.S. dollar-denominated - Municipalities | 1,214,000,000 | 1,179,000,000 |
U.S. dollar-denominated - Mortgage- and asset-backed securities | 4,058,000,000 | 3,255,000,000 |
U.S. dollar-denominated - Public utilities | 4,650,000,000 | 4,205,000,000 |
U.S. dollar-denominated - Sovereign and supranational | 78,000,000 | 78,000,000 |
U.S. dollar-denominated - Banks/financial institutions | 4,169,000,000 | 3,655,000,000 |
U.S. dollar-denominated - Other corporate | 21,110,000,000 | 19,791,000,000 |
U.S. dollar-denominated | 35,509,000,000 | 32,369,000,000 |
Other currencies - Mortgage- and asset-backed securities | 48,000,000 | — |
Other currencies - Public utilities | 56,000,000 | — |
Other currencies - Other corporate | 27,000,000 | 26,000,000 |
Other currencies | 131,000,000 | 26,000,000 |
Variable Interest Entity, Not Consolidated | 6,750,000,000 | 6,243,000,000 |
Public utilities | 7,174,000,000 | 7,045,000,000 |
Banks/financial institutions | 9,244,000,000 | 8,956,000,000 |
Other corporate | 26,398,000,000 | 25,409,000,000 |
Level 1 - Government and agencies | 13,921,000,000 | 17,088,000,000 |
Level 2 - Government and agencies | 686,000,000 | 758,000,000 |
Level 3 - Government and agencies | 0 | 0 |
Government and agencies | 14,607,000,000 | 17,846,000,000 |
Level 1 - Municipalities | 0 | 0 |
Level 2 - Municipalities | 1,930,000,000 | 2,034,000,000 |
Level 3 - Municipalities | 0 | 0 |
Municipalities | 1,930,000,000 | 2,034,000,000 |
Level 1 - Mortgage- and asset-backed securities | 0 | 0 |
Level 2 - Mortgage- and asset-backed securities | 2,072,000,000 | 2,407,000,000 |
Level 3 - Mortgage- and asset-backed securities | 2,294,000,000 | 1,156,000,000 |
Mortgage- and asset-backed securities | 4,366,000,000 | 3,563,000,000 |
Level 1 - Public utilities | 0 | 0 |
Level 2 - Public utilities | 6,298,000,000 | 6,398,000,000 |
Level 3 - Public utilities | 876,000,000 | 647,000,000 |
Level 1 - Sovereign and supranational | 0 | 0 |
Level 2 - Sovereign and supranational | 383,000,000 | 393,000,000 |
Level 3 - Sovereign and supranational | 19,000,000 | 23,000,000 |
Sovereign and supranational | 402,000,000 | 416,000,000 |
Level 1 - Banks/financial institutions | 0 | 0 |
Level 2 - Banks/financial institutions | 9,235,000,000 | 8,946,000,000 |
Level 3 - Banks/financial institutions | 9,000,000 | 10,000,000 |
Level 1 - Other corporate | 0 | 0 |
Level 2 - Other corporate | 26,239,000,000 | 25,178,000,000 |
Level 3 - Other corporate | 159,000,000 | 231,000,000 |
Level 1 | 13,921,000,000 | 17,088,000,000 |
Level 2 | 46,843,000,000 | 46,114,000,000 |
Level 3 | 3,357,000,000 | 2,067,000,000 |
Level 1 - Government and agencies - Third-party pricing vendor | 13,921,000,000 | 17,088,000,000 |
Level 2 - Government and agencies - Third-party pricing vendor | 383,000,000 | 446,000,000 |
Level 3 - Government and agencies - Third-party pricing vendor | 0 | 0 |
Government and agencies - Third-party pricing vendor | 14,304,000,000 | 17,534,000,000 |
Level 1 - Government and agencies - Internal | 0 | 0 |
Level 2 - Government and agencies - Internal | 303,000,000 | 312,000,000 |
Level 3 - Government and agencies - Internal | 0 | 0 |
Government and agencies - Internal | 303,000,000 | 312,000,000 |
Level 1 - Municipalities - Third-party pricing vendor | 0 | 0 |
Level 2 - Municipalities - Third-party pricing vendor | 1,706,000,000 | 1,791,000,000 |
Level 3 - Municipalities - Third-party pricing vendor | 0 | 0 |
Municipalities - Third-party pricing vendor | 1,706,000,000 | 1,791,000,000 |
Level 1 - Municipalities - Internal | 0 | 0 |
Level 2 - Municipalities - Internal | 224,000,000 | 243,000,000 |
Level 3 - Municipalities - Internal | 0 | 0 |
Municipalities - Internal | 224,000,000 | 243,000,000 |
Level 1 - Mortgage- and asset-backed securities - Third-party pricing vendor | 0 | 0 |
Level 2 - Mortgage- and asset-backed securities - Third-party pricing vendor | 1,824,000,000 | 2,352,000,000 |
Level 3 - Mortgage- and asset-backed securities - Third-party pricing vendor | 0 | 0 |
Mortgage- and asset-backed securities - Third-party pricing vendor | 1,824,000,000 | 2,352,000,000 |
Level 1 - Mortgage- and asset-backed securities - Internal | 0 | 0 |
Level 2 - Mortgage- and asset-backed securities - Internal | 248,000,000 | 55,000,000 |
Level 3 - Mortgage- and asset-backed securities - Internal | 0 | 37,000,000 |
Mortgage- and asset-backed securities - Internal | 248,000,000 | 92,000,000 |
Level 1 - Mortgage- and asset-backed securities - Broker/other | 0 | 0 |
Level 2 - Mortgage- and asset-backed securities - Broker/other | 0 | 0 |
Level 3 - Mortgage- and asset-backed securities - Broker/other | 2,294,000,000 | 1,119,000,000 |
Mortgage- and asset-backed securities - Broker/other | 2,294,000,000 | 1,119,000,000 |
Level 1 - Public utilities - Third-party pricing vendor | 0 | 0 |
Level 2 - Public utilities - Third-party pricing vendor | 3,660,000,000 | 3,628,000,000 |
Level 3 - Public utilities - Third-party pricing vendor | 0 | 0 |
Public utilities - Third-party pricing vendor | 3,660,000,000 | 3,628,000,000 |
Level 1 - Public utilities - Internal | 0 | 0 |
Level 2 - Public utilities - Internal | 2,638,000,000 | 2,770,000,000 |
Level 3 - Public utilities - Internal | 0 | 0 |
Public utilities - Internal | 2,638,000,000 | 2,770,000,000 |
Level 1 - Public utilities - Broker/other | 0 | 0 |
Level 2 - Public utilities - Broker/other | 0 | 0 |
Level 3 - Public utilities - Broker/other | 876,000,000 | 647,000,000 |
Public utilities - Broker/other | 876,000,000 | 647,000,000 |
Level 1 - Sovereign and supranational - Third-party pricing vendor | 0 | 0 |
Level 2 - Sovereign and supranational - Third-party pricing vendor | 79,000,000 | 78,000,000 |
Level 3 - Sovereign and supranational - Third-party pricing vendor | 0 | 0 |
Sovereign and supranational - Third-party pricing vendor | 79,000,000 | 78,000,000 |
Level 1 - Sovereign and supranational - Internal | 0 | 0 |
Level 2 - Sovereign and supranational - Internal | 304,000,000 | 315,000,000 |
Level 3 - Sovereign and supranational - Internal | 0 | 0 |
Sovereign and supranational - Internal | 304,000,000 | 315,000,000 |
Level 1 - Sovereign and supranational - Broker/other | 0 | 0 |
Level 2 - Sovereign and supranational - Broker/other | 0 | 0 |
Level 3 - Sovereign and supranational - Broker/other | 19,000,000 | 23,000,000 |
Sovereign and supranational - Broker/other | 19,000,000 | 23,000,000 |
Level 1 - Banks/financial institutions - Third-party pricing vendor | 0 | 0 |
Level 2 - Banks/financial institutions - Third-party pricing vendor | 5,605,000,000 | 4,975,000,000 |
Level 3 - Banks/financial institutions - Third-party pricing vendor | 0 | 0 |
Banks/financial institutions - Third-party pricing vendor | 5,605,000,000 | 4,975,000,000 |
Level 1 - Banks/financial institutions - Internal | 0 | 0 |
Level 2 - Banks/financial institutions - Internal | 3,630,000,000 | 3,971,000,000 |
Level 3 - Banks/financial institutions - Internal | 5,000,000 | 5,000,000 |
Banks/financial institutions - Internal | 3,635,000,000 | 3,976,000,000 |
Level 1 - Banks/financial institutions - Broker/other | 0 | 0 |
Level 2 - Banks/financial institutions - Broker/other | 0 | 0 |
Level 3 - Banks/financial institutions - Broker/other | 4,000,000 | 5,000,000 |
Banks/financial institutions - Broker/other | 4,000,000 | 5,000,000 |
Level 1 - Other corporate - Third-party pricing vendor | 0 | 0 |
Level 2 - Other corporate - Third-party pricing vendor | 21,294,000,000 | 20,051,000,000 |
Level 3 - Other corporate - Third-party pricing vendor | 0 | 0 |
Other corporate - Third-party pricing vendor | 21,294,000,000 | 20,051,000,000 |
Level 1 - Other corporate - Internal | 0 | 0 |
Level 2 - Other corporate - Internal | 4,945,000,000 | 5,127,000,000 |
Level 3 - Other corporate - Internal | 20,000,000 | 116,000,000 |
Other corporate - Internal | 4,965,000,000 | 5,243,000,000 |
Level 1 - Other corporate - Broker/other | 0 | 0 |
Level 2 - Other corporate - Broker/other | 0 | 0 |
Level 3 - Other corporate - Broker/other | 139,000,000 | 115,000,000 |
Other corporate - Broker/other | 139,000,000 | 115,000,000 |
Level 3 - Mortgage- and asset-backed securities - Offered quotes - Consensus pricing valuation technique | 2,294,000,000 | 1,156,000,000 |
Level 3 - Public utilities - Credit spreads - Discounted cash flow technique | 876,000,000 | 647,000,000 |
Level 3 - Sovereign and supranational - Offered quotes - Consensus pricing valuation technique | 19,000,000 | 23,000,000 |
Level 3 - Banks/financial institutions - Private financials - Adjusted cost | 9,000,000 | 10,000,000 |
Level 3 - Other corporate - Credit spreads - Discounted cash flow technique | 159,000,000 | 231,000,000 |
Parent Company | 1,714,000,000 | 1,713,000,000 |
Fixed maturity securities, held-to-maturity | 16,120,000,000 | 15,966,000,000 |
Yen-denominated - Japanese bonds | 15,459,000,000 | 15,309,000,000 |
Yen-denominated - Municipalities | 235,000,000 | 235,000,000 |
Yen-denominated - Public utilities | 32,000,000 | 32,000,000 |
Yen-denominated - Sovereign and supranational | 378,000,000 | 374,000,000 |
Yen-denominated - Other corporate | 16,000,000 | 16,000,000 |
Yen-denominated | 16,120,000,000 | 15,966,000,000 |
Equity securities | 887,000,000 | 796,000,000 |
Yen-denominated | 609,000,000 | 484,000,000 |
U.S. dollar-denominated | 278,000,000 | 312,000,000 |
Level 1 | 727,000,000 | 639,000,000 |
Level 2 | 0 | 0 |
Level 3 | 160,000,000 | 157,000,000 |
Level 1 - Third-party pricing vendor | 727,000,000 | 639,000,000 |
Level 2 - Third-party pricing vendor | 0 | 0 |
Level 3 - Third-party pricing vendor | 0 | 0 |
Third-party pricing vendor | 727,000,000 | 639,000,000 |
Level 1 - Internal | 0 | 0 |
Level 2 - Internal | 0 | 0 |
Level 3 - Internal | 24,000,000 | 26,000,000 |
Internal | 24,000,000 | 26,000,000 |
Level 1 - Broker/other | 0 | 0 |
Level 2 - Broker/other | 0 | 0 |
Level 3 - Broker/other | 136,000,000 | 131,000,000 |
Broker/other | 136,000,000 | 131,000,000 |
Level 3 - Private financials - Adjusted cost | 160,000,000 | 157,000,000 |
Commercial mortgage and other loans | 9,765,000,000 | 10,869,000,000 |
Variable Interest Entity, Consolidated | 7,896,000,000 | 8,693,000,000 |
Other investments | 6,622,000,000 | 5,958,000,000 |
Variable Interest Entity, Consolidated | 2,320,000,000 | 2,176,000,000 |
Policy loans | 210,000,000 | 203,000,000 |
Short-term investments | 1,373,000,000 | 1,599,000,000 |
Limited partnerships | 4,109,000,000 | 3,435,000,000 |
Real estate owned | 902,000,000 | 682,000,000 |
Other investments | 28,000,000 | 39,000,000 |
Variable Interest Entity, Not Consolidated | 1,603,000,000 | 1,124,000,000 |
Parent Company | 978,000,000 | 1,239,000,000 |
Cash and cash equivalents | 6,245,000,000 | 6,229,000,000 |
Parent Company | 2,646,000,000 | 2,308,000,000 |
Total investments and cash | 103,760,000,000 | 105,087,000,000 |
Parent Company | 37,553,000,000 | 33,150,000,000 |
Receivables | 835,000,000 | 779,000,000 |
Aflac Japan | 167,000,000 | 197,000,000 |
Accrued investment income | 718,000,000 | 710,000,000 |
Deferred policy acquisition costs | 9,034,000,000 | 8,758,000,000 |
Aflac Japan | 5,302,000,000 | 5,102,000,000 |
Aflac U.S. | 3,732,000,000 | 3,656,000,000 |
Corporate and other | 0 | 0 |
Cancer - Aflac Japan | 2,965,000,000 | 2,776,000,000 |
Medical and other health - Aflac Japan | 1,840,000,000 | 1,833,000,000 |
Life insurance - Aflac Japan | 446,000,000 | 441,000,000 |
Other - Aflac Japan | 51,000,000 | 52,000,000 |
Accident - Aflac U.S. | 909,000,000 | 915,000,000 |
Disability - Aflac U.S. | 641,000,000 | 636,000,000 |
Critical care - Aflac U.S. | 1,355,000,000 | 1,348,000,000 |
Hospital indemnity - Aflac U.S. | 463,000,000 | 452,000,000 |
Dental/vision - Aflac U.S. | 87,000,000 | 86,000,000 |
Life insurance - Aflac U.S. | 277,000,000 | 219,000,000 |
Other - Aflac U.S. | 0 | 0 |
Intercompany eliminations | 0 | 0 |
Property and equipment, at cost less accumulated depreciation | 351,000,000 | 387,000,000 |
Other | 1,772,000,000 | 1,845,000,000 |
Parent Company | 946,000,000 | 1,121,000,000 |
Total assets | 116,470,000,000 | 117,566,000,000 |
Variable Interest Entity, Consolidated | 13,897,000,000 | 14,350,000,000 |
Aflac Japan | 88,537,000,000 | 90,210,000,000 |
Aflac U.S. | 22,317,000,000 | 21,930,000,000 |
Corporate and other | 5,616,000,000 | 5,426,000,000 |
Variable Interest Entity, Not Consolidated | 8,353,000,000 | 7,367,000,000 |
Parent Company | 38,852,000,000 | 34,584,000,000 |
Liabilities and shareholders’ equity: | ||
Liabilities: | ||
Policy liabilities: | ||
Future policy benefits | 62,320,000,000 | 70,381,000,000 |
Corporate and other | 4,317,000,000 | 5,072,000,000 |
Cancer - Aflac Japan | 22,780,000,000 | 26,597,000,000 |
Medical and other health - Aflac Japan | 7,343,000,000 | 8,789,000,000 |
Life insurance - Aflac Japan | 16,347,000,000 | 19,109,000,000 |
Other - Aflac Japan | 2,946,000,000 | 3,379,000,000 |
Accident - Aflac U.S. | 659,000,000 | 630,000,000 |
Disability - Aflac U.S. | 651,000,000 | 695,000,000 |
Critical care - Aflac U.S. | 6,900,000,000 | 6,800,000,000 |
Hospital indemnity - Aflac U.S. | 784,000,000 | 775,000,000 |
Dental/vision - Aflac U.S. | 236,000,000 | 245,000,000 |
Life insurance - Aflac U.S. | 1,055,000,000 | 938,000,000 |
Other - Aflac U.S. | 476,000,000 | 462,000,000 |
Intercompany eliminations | (4,997,000,000) | (5,760,000,000) |
Unpaid policy claims | 495,000,000 | 381,000,000 |
Unearned premiums | 1,323,000,000 | 1,286,000,000 |
Aflac Japan | 1,245,000,000 | 1,199,000,000 |
Aflac U.S. | 97,000,000 | 103,000,000 |
Corporate and other | (11,000,000) | 22,000,000 |
Intercompany eliminations | (8,000,000) | (38,000,000) |
Other policyholders’ funds | 5,445,000,000 | 5,460,000,000 |
Aflac Japan | 5,445,000,000 | 5,460,000,000 |
Aflac U.S. | 0 | 0 |
Corporate and other | 0 | 0 |
Intercompany eliminations | 0 | 0 |
Total policy liabilities | 69,583,000,000 | 77,508,000,000 |
Income taxes | 1,368,000,000 | 573,000,000 |
Payables for return of cash collateral on loaned securities | 3,989,000,000 | 2,037,000,000 |
Notes payable and lease obligations | 8,409,000,000 | 7,498,000,000 |
1.125% senior notes due March 2026 | 400,000,000 | 399,000,000 |
2.875% senior notes due October 2026 | 299,000,000 | 299,000,000 |
3.60% senior notes due April 2030 | 995,000,000 | 994,000,000 |
6.90% senior notes due December 2039 | 221,000,000 | 221,000,000 |
6.45% senior notes due August 2040 | 255,000,000 | 255,000,000 |
4.00% senior notes due October 2046 | 394,000,000 | 394,000,000 |
4.750% senior notes due January 2049 | 542,000,000 | 542,000,000 |
.300% senior notes paid September 2025 | 0 | 79,000,000 |
.932% senior notes due January 2027 | 382,000,000 | 378,000,000 |
1.048% senior notes due March 2029 | 83,000,000 | 81,000,000 |
1.075% senior notes due September 2029 | 213,000,000 | 211,000,000 |
.500% senior notes due December 2029 | 80,000,000 | 79,000,000 |
.550% senior notes due March 2030 | 85,000,000 | 84,000,000 |
1.159% senior notes due October 2030 | 186,000,000 | 184,000,000 |
1.726% senior notes due October 2030 | 223,000,000 | 0 |
1.412% senior notes due March 2031 | 178,000,000 | 176,000,000 |
.633% senior notes due April 2031 | 191,000,000 | 189,000,000 |
.843% senior notes due December 2031 | 59,000,000 | 58,000,000 |
.750% senior notes due March 2032 | 131,000,000 | 130,000,000 |
1.990% senior notes due May 2032 | 116,000,000 | 0 |
1.320% senior notes due December 2032 | 134,000,000 | 133,000,000 |
2.003% senior notes due December 2032 | 149,000,000 | 0 |
.844% senior notes due April 2033 | 76,000,000 | 76,000,000 |
1.488% senior notes due October 2033 | 97,000,000 | 95,000,000 |
1.682% senior notes due March 2034 | 49,000,000 | 48,000,000 |
1.600% senior notes due March 2034 | 116,000,000 | 115,000,000 |
.934% senior notes due December 2034 | 62,000,000 | 62,000,000 |
.830% senior notes due March 2035 | 67,000,000 | 66,000,000 |
2.320% senior notes due May 2035 | 245,000,000 | 0 |
2.369% senior notes due June 2035 | 60,000,000 | 0 |
1.740% senior notes due March 2036 | 95,000,000 | 94,000,000 |
1.039% senior notes due April 2036 | 64,000,000 | 63,000,000 |
1.594% senior notes due September 2037 | 41,000,000 | 41,000,000 |
1.750% senior notes due October 2038 | 56,000,000 | 56,000,000 |
1.920% senior notes due March 2039 | 104,000,000 | 103,000,000 |
1.122% senior notes due December 2039 | 40,000,000 | 39,000,000 |
2.650% senior notes due May 2040 | 74,000,000 | 0 |
2.779% senior notes due June 2040 | 45,000,000 | 0 |
1.264% senior notes due April 2041 | 63,000,000 | 63,000,000 |
2.160% senior notes due March 2044 | 36,000,000 | 35,000,000 |
3.040% senior notes due May 2045 | 45,000,000 | 0 |
2.108% subordinated notes due October 2047 | 379,000,000 | 375,000,000 |
1.560% senior notes due April 2051 | 127,000,000 | 125,000,000 |
2.144% senior notes due September 2052 | 76,000,000 | 75,000,000 |
1.958% subordinated bonds due December 2053 | 191,000,000 | 188,000,000 |
2.400% senior notes due March 2054 | 124,000,000 | 122,000,000 |
Yen-denominated loan variable interest rate due August 2027 | 75,000,000 | 74,000,000 |
Yen-denominated loan variable interest rate due August 2029 | 161,000,000 | 160,000,000 |
Yen-denominated loan variable interest rate due August 2032 | 446,000,000 | 441,000,000 |
Parent Company | 8,143,000,000 | 7,219,000,000 |
Parent Company - 1.125% senior notes due March 2026 | 400,000,000 | 399,000,000 |
Parent Company - 2.875% senior notes due October 2026 | 299,000,000 | 299,000,000 |
Parent Company - 3.60% senior notes due April 2030 | 995,000,000 | 994,000,000 |
Parent Company - 6.90% senior notes due December 2039 | 221,000,000 | 221,000,000 |
Parent Company - 6.45% senior notes due August 2040 | 255,000,000 | 255,000,000 |
Parent Company - 4.00% senior notes due October 2046 | 394,000,000 | 394,000,000 |
Parent Company - 4.750% senior notes due January 2049 | 542,000,000 | 542,000,000 |
Parent Company - .300% senior notes paid September 2025 | 0 | 79,000,000 |
Parent Company - .932% senior notes due January 2027 | 382,000,000 | 378,000,000 |
Parent Company - 1.048% senior notes due March 2029 | 83,000,000 | 81,000,000 |
Parent Company - 1.075% senior notes due September 2029 | 213,000,000 | 211,000,000 |
Parent Company - .500% senior notes due December 2029 | 80,000,000 | 79,000,000 |
Parent Company - .550% senior notes due March 2030 | 85,000,000 | 84,000,000 |
Parent Company - 1.159% senior notes due October 2030 | 186,000,000 | 184,000,000 |
Parent Company - 1.726% senior notes due October 2030 | 223,000,000 | 0 |
Parent Company - 1.412% senior notes due March 2031 | 178,000,000 | 176,000,000 |
Parent Company - .633% senior notes due April 2031 | 191,000,000 | 189,000,000 |
Parent Company - .843% senior notes due December 2031 | 59,000,000 | 58,000,000 |
Parent Company - .750% senior notes due March 2032 | 131,000,000 | 130,000,000 |
Parent Company - 1.990% senior notes due May 2032 | 116,000,000 | 0 |
Parent Company - 1.320% senior notes due December 2032 | 134,000,000 | 133,000,000 |
Parent Company - 2.003% senior notes due December 2032 | 149,000,000 | 0 |
Parent Company - .844% senior notes due April 2033 | 76,000,000 | 76,000,000 |
Parent Company - 1.488% senior notes due October 2033 | 97,000,000 | 95,000,000 |
Parent Company - 1.682% senior notes due March 2034 | 49,000,000 | 48,000,000 |
Parent Company - 1.600% senior notes due March 2034 | 116,000,000 | 115,000,000 |
Parent Company - .934% senior notes due December 2034 | 62,000,000 | 62,000,000 |
Parent Company - .830% senior notes due March 2035 | 67,000,000 | 66,000,000 |
Parent Company - 2.320% senior notes due May 2035 | 245,000,000 | 0 |
Parent Company - 2.369% senior notes due June 2035 | 60,000,000 | 0 |
Parent Company - 1.740% senior notes due March 2036 | 95,000,000 | 94,000,000 |
Parent Company - 1.039% senior notes due April 2036 | 64,000,000 | 63,000,000 |
Parent Company - 1.594% senior notes due September 2037 | 41,000,000 | 41,000,000 |
Parent Company - 1.750% senior notes due October 2038 | 56,000,000 | 56,000,000 |
Parent Company - 1.920% senior notes due March 2039 | 104,000,000 | 103,000,000 |
Parent Company - 1.122% senior notes due December 2039 | 40,000,000 | 39,000,000 |
Parent Company - 2.650% senior notes due May 2040 | 74,000,000 | 0 |
Parent Company - 2.779% senior notes due June 2040 | 45,000,000 | 0 |
Parent Company - 1.264% senior notes due April 2041 | 63,000,000 | 63,000,000 |
Parent Company - 2.160% senior notes due March 2044 | 36,000,000 | 35,000,000 |
Parent Company - 3.040% senior notes due May 2045 | 45,000,000 | 0 |
Parent Company - 2.108% subordinated notes due October 2047 | 379,000,000 | 375,000,000 |
Parent Company - 1.560% senior notes due April 2051 | 127,000,000 | 125,000,000 |
Parent Company - 2.144% senior notes due September 2052 | 76,000,000 | 75,000,000 |
Parent Company - 2.400% senior notes due March 2054 | 124,000,000 | 122,000,000 |
Parent Company - Yen-denominated loan variable interest rate due August 2027 | 75,000,000 | 74,000,000 |
Parent Company - Yen-denominated loan variable interest rate due August 2029 | 161,000,000 | 160,000,000 |
Parent Company - Yen-denominated loan variable interest rate due August 2032 | 446,000,000 | 441,000,000 |
Other | 3,631,000,000 | 3,852,000,000 |
Parent Company | 862,000,000 | 920,000,000 |
Total liabilities | 86,980,000,000 | 91,468,000,000 |
Variable Interest Entity, Consolidated | 765,000,000 | 604,000,000 |
Parent Company | 9,362,000,000 | 8,486,000,000 |
Shareholders’ equity: | ||
Common stock of $.10 par value. In thousands: authorized 1,900,000 shares in 2025 and 2024; issued 1,357,909 shares in 2025 and 1,356,763 shares in 2024 | 136,000,000 | 136,000,000 |
Parent Company | 136,000,000 | 136,000,000 |
Additional paid-in capital | 3,024,000,000 | 2,894,000,000 |
Parent Company | 3,024,000,000 | 2,894,000,000 |
Retained earnings | 54,682,000,000 | 52,277,000,000 |
Parent Company | 54,682,000,000 | 52,277,000,000 |
Accumulated other comprehensive income (loss): | ||
Unrealized foreign currency translation gains (losses) | (4,847,000,000) | (4,998,000,000) |
Parent Company | (4,847,000,000) | (4,998,000,000) |
Unrealized gains (losses) on fixed maturity securities | (1,809,000,000) | 24,000,000 |
Parent Company | (1,809,000,000) | 24,000,000 |
Unrealized gains (losses) on derivatives | (13,000,000) | (20,000,000) |
Parent Company | (13,000,000) | (20,000,000) |
Effect of changes in discount rate assumptions | 8,035,000,000 | 2,006,000,000 |
Parent Company | 8,035,000,000 | 2,006,000,000 |
Pension liability adjustment | (86,000,000) | (10,000,000) |
Parent Company | (86,000,000) | (10,000,000) |
Treasury stock, at average cost | 29,804,000,000 | 26,231,000,000 |
Parent Company | 29,804,000,000 | 26,231,000,000 |
Total shareholders’ equity | 29,490,000,000 | 26,098,000,000 |
Common Stock | 136,000,000 | 136,000,000 |
Additional Paid-in Capital | 3,024,000,000 | 2,894,000,000 |
Retained Earnings | 54,682,000,000 | 52,277,000,000 |
Accumulated other comprehensive income (loss) | 1,452,000,000 | (2,978,000,000) |
Treasury Stock | (29,804,000,000) | (26,231,000,000) |
Unrealized Foreign Currency Translation Gains (Losses) | (4,847,000,000) | (4,998,000,000) |
Unrealized gains (losses) on available-for-sale securities | (1,809,000,000) | 24,000,000 |
Unrealized Gains (Losses) on Derivatives | (13,000,000) | (20,000,000) |
Effect of Changes in Discount Rate Assumptions | 8,035,000,000 | 2,006,000,000 |
Pension Liability Adjustment | 86,000,000 | 10,000,000 |
Parent Company | 29,490,000,000 | 26,098,000,000 |
Total liabilities and shareholders’ equity | 116,470,000,000 | 117,566,000,000 |
Parent Company | 38,852,000,000 | 34,584,000,000 |