AFL 10-Q Quarterly Reports

Aflac Incorporated reported a significant turnaround in its third quarter of 2025 compared to the same period in 2024. Total revenues increased to $4.7 billion from $2.9 billion, largely driven by a swing from net investment losses of $1.4 billion in Q3 2024 to net investment gains of $275 million in Q3 2025. This resulted in a net earning of $1.6 billion, or $3.08 per diluted share, a substantial improvement from a net loss of $93 million, or $(0.17) per diluted share, in the prior year's quarter. For the nine months ended September 30, 2025, total revenues were $12.3 billion, down from $13.5 billion in the prior year, primarily due to net investment losses of $1.1 billion in 2025 compared to net investment gains of $239 million in 2024. Consequently, net earnings for the nine-month period decreased to $2.3 billion, or $4.21 per diluted share, from $3.5 billion, or $6.23 per diluted share, in the same period of 2024. The company's adjusted earnings, which exclude certain volatile items, showed more stable performance, with Q3 2025 adjusted earnings at $1.3 billion ($2.49 per diluted share) compared to $1.2 billion ($2.16 per diluted share) in Q3 2024. The company continued its share repurchase program, buying back $2.7 billion of stock in the first nine months of 2025, and maintained a strong shareholder equity position.

Aflac Incorporated reported its financial results for the second quarter and first six months of 2025. Total revenues declined to $4.2 billion for the quarter and $7.6 billion for the six months, primarily due to a significant drop in net investment gains from $696 million in Q2 2024 to a loss of $421 million in Q2 2025, and from $1.6 billion in the first six months of 2024 to a loss of $1.4 billion in the same period of 2025. Consequently, net earnings saw a substantial decrease, with quarterly net earnings falling to $599 million ($1.11 per diluted share) from $1.8 billion ($3.10 per diluted share) in the prior year's quarter, and six-month net earnings dropping to $628 million ($1.16 per diluted share) from $3.6 billion ($6.35 per diluted share). Despite the decline in reported earnings, the company's "adjusted earnings," which exclude investment gains/losses and other non-recurring items, remained relatively stable. Adjusted earnings for the quarter were $957 million ($1.78 per diluted share), down slightly from $1.0 billion ($1.83 per diluted share) in Q2 2024. For the first six months, adjusted earnings were $1.8 billion ($3.43 per diluted share), compared to $2.0 billion ($3.49 per diluted share) in the prior year's period. The company repurchased $1.7 billion of its common stock in the first six months of 2025, indicating continued capital return to shareholders. Shareholders' equity increased to $27.2 billion, reflecting significant positive impacts from changes in discount rate assumptions on insurance reserves, partially offset by investment market volatility and foreign currency translation losses.

Aflac Incorporated (AFL) reported a significant year-over-year decline in net earnings for the first quarter of 2025, primarily driven by a substantial shift from net investment gains in the prior year to net investment losses in the current quarter. Net earnings were $29 million, or $0.05 per diluted share, compared to $1.9 billion, or $3.25 per diluted share, in the first quarter of 2024. This swing is largely attributable to mark-to-market movements in investments and derivatives, particularly a significant net investment loss of $963 million in Q1 2025 versus a net investment gain of $951 million in Q1 2024. Despite the sharp decline in reported net earnings, adjusted earnings, which exclude certain volatile investment and foreign currency impacts, were $906 million, or $1.66 per diluted share, a slight decrease from $961 million, or $1.66 per diluted share, in the prior year. The company's operations in Japan, Aflac Japan, continue to be the larger segment, though yen weakening impacted dollar-denominated results. Aflac U.S. showed modest growth in net earned premiums and maintained stable profitability. The company continued its share repurchase program, returning $900 million to shareholders in the quarter. Shareholders' equity saw an increase, largely due to positive impacts from changes in discount rate assumptions on insurance reserves, although offset by unrealized losses on investments and foreign currency translation. Investors should focus on the adjusted earnings and operational performance metrics, as the reported net earnings are heavily influenced by market volatility. The company's core insurance business, particularly in Japan, remains robust, demonstrating resilience despite challenging investment market conditions. The continued share buybacks signal management's confidence in the company's underlying financial health.

Aflac Incorporated (AFL) reported a net loss of $93 million, or $(0.17) per diluted share, for the third quarter of 2024, a significant decrease from a net earning of $1.57 billion, or $2.64 per diluted share, in the same period last year. This decline was primarily driven by substantial foreign exchange-related losses due to the strengthening Japanese yen and significant net investment losses totaling $1.4 billion, compared to net investment gains of $423 million in the prior year's third quarter. For the nine-month period ended September 30, 2024, net earnings were $3.54 billion, or $6.23 per diluted share, down from $4.39 billion, or $7.28 per diluted share, in the same period last year. The year-to-date investment results also showed a decline, with net investment gains of $239 million compared to $1.1 billion in the prior year. Despite the reported net loss in the quarter, adjusted earnings showed a more favorable trend, increasing year-over-year due to strong performance in the Japan segment and expense control measures in the U.S. segment. The company continued its share repurchase program, repurchasing $2.1 billion of common stock during the first nine months.

Aflac Incorporated reported solid financial results for the second quarter and first six months of 2024. Total revenues saw a slight decrease in Q2 2024 to $5.1 billion from $5.2 billion in Q2 2023, but increased year-to-date to $10.6 billion from $10.0 billion in the prior year. Net earnings demonstrated strong growth, reaching $1.8 billion ($3.10 per diluted share) in Q2 2024, up from $1.6 billion ($2.71 per diluted share) in Q2 2023. For the year-to-date period, net earnings rose to $3.6 billion ($6.35 per diluted share) from $2.8 billion ($4.64 per diluted share) in the same period last year. The company's investment portfolio performance was a key driver, with net investment gains increasing in both periods, notably bolstered by derivative and foreign currency activities. Aflac Japan continues to be the primary contributor to earnings, though it experienced a decrease in net earned premiums year-over-year, partly due to internal reinsurance activity and policy features. The company's adjusted earnings, which exclude certain non-operational or volatile items, also showed positive growth, indicating underlying business strength. Shareholder returns remained a focus, with significant share repurchases and an increased dividend declared for the third quarter.

Aflac Incorporated reported strong financial results for the first quarter of 2024. Net earnings increased significantly to $1.9 billion ($3.25 per diluted share) from $1.2 billion ($1.94 per diluted share) in the prior year quarter, driven by substantial net investment gains of $951 million compared to $123 million in Q1 2023. This increase in investment gains was primarily attributed to favorable derivative and foreign currency activities, as well as gains on equity securities and investment sales. The company continued its capital return program, repurchasing $750 million of its common stock during the quarter and increasing its quarterly dividend by 19.0% to $0.50 per share. Shareholders' equity grew to $23.5 billion, reflecting the strong earnings performance. The company's adjusted earnings, which exclude certain investment-related items, remained robust at $961 million ($1.66 per diluted share), showing the underlying stability of its core insurance operations. Geographically, Aflac Japan remains the primary contributor to earnings, with pretax adjusted earnings of $810 million, a slight increase from the prior year. Aflac U.S. also demonstrated solid performance, with pretax adjusted earnings of $356 million. The company's investment portfolio remains diversified, and while there are ongoing considerations related to the commercial real estate market, particularly for office properties, Aflac maintains a strong capital position and focus on prudent risk management.

Aflac Incorporated reported solid financial performance for the third quarter and the first nine months of 2023. Total revenues increased year-over-year for the quarter, driven by higher net investment income and modest premium growth. Net earnings saw a slight decrease in the third quarter compared to the prior year, primarily due to higher investment gains in the prior year's period and the impact of foreign currency translation. However, for the nine-month period, net earnings and earnings per share showed growth. Aflac Japan continues to be the primary contributor to earnings, though net earned premiums in yen terms decreased due to limited-pay products reaching premium paid-up status and internal reinsurance activity. Aflac U.S. demonstrated strong performance with increased net earned premiums and pretax adjusted earnings, supported by growth initiatives and improved investment income. The company maintained a strong capital position and liquidity. Shareholder equity increased, and the company continued its share repurchase program, returning significant capital to shareholders through dividends and buybacks. The company remains focused on its long-term strategy of providing financial protection and enhancing shareholder value.

Aflac Incorporated reported solid financial results for the second quarter and the first half of 2023, demonstrating resilience and profitability. Net earnings for the second quarter of 2023 were $1.6 billion, or $2.71 per diluted share, an increase from $1.4 billion, or $2.17 per diluted share, in the same period last year. For the first half of 2023, net earnings reached $2.8 billion, or $4.64 per diluted share, up from $2.4 billion, or $3.77 per diluted share, in the first half of 2022. Key drivers of performance include strong investment income, particularly from its U.S. dollar-denominated investments, and effective expense management. The company's adjusted earnings, which exclude certain volatile items like net investment gains/losses and foreign currency impacts, also showed strength. Aflac Japan continues to be the primary contributor to earnings, despite the weakening yen, while Aflac U.S. shows steady growth in net earned premiums and an improving pretax adjusted profit margin. The company continued its capital return strategy, repurchasing $1.4 billion of its common stock in the first six months of 2023 and maintaining a strong shareholder equity position. Management remains focused on navigating market volatility and regulatory changes while pursuing strategic growth initiatives.

Aflac Incorporated reported solid financial results for the first quarter of 2023, demonstrating resilience amidst varying economic conditions. The company's net earnings increased to $1.19 billion, or $1.94 per diluted share, a notable improvement from $1.05 billion, or $1.60 per diluted share, in the prior year's first quarter. This growth was supported by strong investment income and effective expense management across its core U.S. and Japan segments. Total revenues, however, saw a slight decrease to $4.80 billion from $5.17 billion in the prior year, largely influenced by a weaker yen which impacted the translation of Aflac Japan's results. Despite this, the company's "adjusted earnings," a non-GAAP measure excluding certain investment gains/losses and foreign currency impacts, showed a positive trend, increasing to $1.0 billion from $942 million year-over-year. Aflac continued its commitment to shareholder returns by repurchasing $700 million of its common stock in the quarter, underscoring its confidence in its financial position and future prospects.

Aflac Incorporated reported solid financial results for the nine months ended September 30, 2022. Net earnings were $4.0 billion, a significant increase from $3.3 billion in the same period of the prior year. This improvement was substantially driven by a $695 million income tax benefit recognized in the third quarter due to a change in tax accounting method for foreign currency translation. Excluding this tax benefit, adjusted earnings were $2.6 billion for the first nine months of 2022, a decrease from $3.2 billion in the prior year, reflecting the impact of a weaker Japanese yen and planned investments in the U.S. business. The company's total revenues decreased to $15.5 billion from $16.7 billion year-over-year, primarily due to lower net earned premiums, particularly in Aflac Japan, impacted by economic conditions and the yen's depreciation. Despite revenue pressures, Aflac Japan saw a 10.2% increase in sales in yen terms in the third quarter, driven by new product launches. Aflac U.S. continued its positive sales momentum with an 11.8% increase in the third quarter. Total investments and cash stood at $114.5 billion, down from $143.0 billion at the end of 2021, reflecting strategic portfolio management and share repurchases. Shareholders' equity decreased to $24.2 billion from $33.3 billion, impacted by adverse movements in accumulated other comprehensive income, primarily related to unrealized losses on fixed maturity securities and foreign currency translation losses. The company continues to return capital to shareholders, repurchasing $1.8 billion of common stock and paying dividends, demonstrating confidence in its ongoing financial strength.

Aflac Incorporated reported net earnings of $1.39 billion for the second quarter of 2022, a significant increase from $1.11 billion in the same quarter of the previous year. Diluted earnings per share (EPS) also saw a substantial rise to $2.16 from $1.62. For the first six months of 2022, net earnings were $2.42 billion, largely flat compared to $2.40 billion in the prior year period, with diluted EPS at $3.73 compared to $3.49. The company's performance was bolstered by strong net investment gains, which more than offset a slight decrease in total revenues and net earned premiums, particularly in the Aflac Japan segment. The company's investment portfolio, totaling $121.4 billion at quarter-end, experienced fluctuations, with a decrease in fair value of fixed maturity securities available for sale due to market conditions. However, Aflac maintained a robust capital position with shareholders' equity at $26.4 billion. The company continued its commitment to returning capital to shareholders through share repurchases and dividends, repurchasing $1.2 billion of its stock in the first half of 2022 and increasing its quarterly dividend.

Aflac Incorporated reported its first quarter 2022 results, with net earnings of $1.03 billion, or $1.58 per diluted share, down from $1.29 billion, or $1.87 per diluted share, in the prior year. Despite a challenging market environment marked by economic uncertainty, inflation, and geopolitical events impacting global growth and currency exchange rates (specifically a weaker Yen), Aflac demonstrated resilience. The company's adjusted earnings were $927 million, or $1.42 per diluted share. The weaker Yen negatively impacted diluted EPS by $0.06. Aflac U.S. saw a notable increase in sales (up 19.0%), driven by improved pandemic conditions and growth initiatives. Conversely, Aflac Japan's sales in Yen terms decreased by 14.8%, primarily due to ongoing pandemic conditions and a strong prior year comparable. The company returned $750 million to shareholders through share repurchases and dividends, and its capital position remains strong, with shareholders' equity at $29.5 billion. The company also announced a 21.2% increase in its second quarter cash dividend.

Aflac Incorporated reported solid financial results for the nine months ended September 30, 2021. Total revenues increased to $16.7 billion, up from $16.2 billion in the prior year period, driven by growth in net investment income. Net earnings for the nine months were $3.3 billion, a decrease from $3.8 billion in the same period last year, impacted by a significant one-time tax benefit recognized in the prior year. However, excluding this prior year benefit, adjusted earnings showed strong growth, reaching $3.2 billion compared to $2.8 billion in the prior year, indicating operational strength. The company demonstrated resilience in its core insurance segments. Aflac Japan experienced a slight decline in net premium income in yen terms due to product mix and pandemic impacts, but saw an increase in adjusted net investment income. Aflac U.S. reported an increase in sales driven by economic reopening and a favorable claims environment, leading to higher pretax adjusted earnings. The company maintained a strong capital and liquidity position, with total investments and cash at $146.0 billion and shareholders' equity at $33.6 billion. Share repurchases continued, with $1.7 billion of common stock repurchased in the first nine months of 2021, demonstrating a commitment to returning capital to shareholders.

Aflac Incorporated (AFL) reported solid financial results for the second quarter and first half of 2021, demonstrating resilience and recovery. The company saw a notable increase in net earnings and earnings per share, largely driven by a significant rebound in net investment gains compared to a challenging period in 2020. Total revenues also showed an increase, supported by growth in both Aflac Japan and Aflac U.S. segments. Operationally, Aflac Japan experienced a strong recovery in new business sales, particularly in its 'third sector' products like medical and cancer insurance, benefiting from new product launches and a favorable comparison to the pandemic-impacted prior year. Aflac U.S. also reported a substantial increase in sales, reflecting the economic reopening and continued investment in digital initiatives. The company maintained a strong capital and liquidity position, continuing its commitment to prudent capital management and share repurchases.

Aflac Incorporated (AFL) reported a strong first quarter for 2021, with net earnings more than doubling to $1.3 billion ($1.87 per diluted share) compared to $566 million ($.78 per diluted share) in the prior year. This significant increase was primarily driven by a substantial rebound in net investment gains, which swung from a loss of $463 million in Q1 2020 to a gain of $307 million in Q1 2021. The company's total revenues also saw a healthy increase, reaching $5.9 billion, up from $5.2 billion in the year-ago quarter. The "adjusted earnings," a non-GAAP measure used by management to assess underlying business performance, also showed improvement, increasing to $1.05 billion ($1.53 per diluted share) from $882 million ($1.21 per diluted share) in Q1 2020. Both Aflac Japan and Aflac U.S. segments contributed to the results, with Aflac Japan's "pretax adjusted earnings" growing slightly to $887 million, and Aflac U.S. seeing a notable increase in "pretax adjusted earnings" to $445 million. The company also continued its capital return program, repurchasing $650 million of its common stock during the quarter.

Aflac Incorporated (AFL) reported its financial results for the period ending September 29, 2020. The company demonstrated strong profitability, with net earnings significantly increasing year-over-year, primarily driven by a substantial tax benefit from the release of valuation allowances on deferred foreign tax credits. Despite a slight decline in total revenues year-to-date, driven by increased net investment losses, the company's core insurance operations showed resilience, particularly Aflac Japan, which continued to be the largest contributor to earnings. Management highlighted the company's robust liquidity and capital position maintained throughout the COVID-19 pandemic. Aflac took proactive steps to support its financial resources by issuing new senior notes. The company also reiterated its commitment to capital allocation strategies, including tactical share repurchases, and maintaining strong solvency margins in its key operating segments. The report also detailed ongoing efforts to adapt to the challenges presented by the pandemic, including shifts towards digital sales channels and remote work arrangements, while navigating the impact on sales performance in both Japan and the U.S.

Aflac Inc.'s second-quarter 2020 report indicates a slight decrease in total revenues and net earnings compared to the prior year, largely driven by increased net investment losses. For the three months ended June 30, 2020, total revenues were $5.41 billion, down from $5.51 billion in the same period of 2019. Net earnings were $805 million, or $1.12 per diluted share, compared to $817 million, or $1.09 per diluted share, in the prior year. The company's adjusted earnings, which exclude certain volatile items like net investment gains/losses, showed a more positive trend. Adjusted earnings increased to $921 million in Q2 2020 from $846 million in Q2 2019, reflecting favorable claims experience in Aflac U.S. and improved adjusted net investment income in Aflac Japan, partly offset by higher hedge costs. The company's strong capital and liquidity position was maintained, with significant cash and cash equivalents on hand. Management continues to focus on prudent capital allocation and has taken steps to manage liquidity and capital resources in response to the COVID-19 pandemic, including issuing new senior notes.

Aflac Incorporated reported net earnings of $566 million for the first quarter of 2020, a decrease from $928 million in the prior year, primarily due to a significant increase in net investment losses. Total revenues declined to $5.2 billion from $5.7 billion year-over-year. The company experienced a substantial unrealized loss on its fixed maturity securities, contributing to a significant drop in total comprehensive income. Despite market volatility and the ongoing impact of COVID-19, Aflac Japan's pretax adjusted earnings increased slightly, while Aflac U.S. pretax adjusted earnings saw a marginal increase. The company maintained strong liquidity and capital positions, with substantial cash reserves and available credit facilities, and took steps to manage its capital allocation strategically.

Aflac Incorporated reported solid financial results for the third quarter and first nine months of 2019. Total revenues remained stable year-over-year for the quarter, while increasing slightly for the nine-month period. Net earnings saw a decrease in the third quarter compared to the prior year, largely due to higher net realized investment losses, but increased for the nine-month period, demonstrating resilience. The company's U.S. operations performed steadily, while Aflac Japan, despite a slight decrease in yen-denominated net premium income, showed improved investment income and a stronger pretax adjusted earnings. A significant factor impacting the company's sales in Japan was the ongoing investigation into sales practices by Japan Post, which Aflac anticipates will depress sales through that channel for the remainder of 2019. Aflac continued its commitment to shareholder returns, repurchasing a substantial amount of its common stock during the period.

Aflac Incorporated reported solid financial results for the second quarter and first half of 2019. For the three months ended June 30, 2019, net earnings were $817 million, or $1.09 per diluted share, a slight decrease from the prior year's $832 million, or $1.07 per diluted share. However, for the six months ended June 30, 2019, net earnings increased to $1.7 billion, or $2.32 per diluted share, compared to $1.6 billion, or $1.98 per diluted share, in the same period last year. The company saw a slight decrease in total revenues to $5.5 billion for the quarter but an increase to $11.2 billion for the first half. These results were influenced by foreign currency fluctuations, particularly the yen's movement against the dollar, and strategic investment adjustments. Aflac Japan remains the primary contributor to consolidated earnings, with pretax adjusted earnings of $831 million for the quarter, slightly down from $836 million in the prior year, but showing a slight increase year-to-date. Aflac U.S. also reported stable pretax adjusted earnings, demonstrating resilience in its domestic market. The company continued its share repurchase program, buying back $847 million of its common stock in the first half of 2019, underscoring its commitment to returning value to shareholders. The company's investment portfolio, primarily composed of fixed maturity securities, remains robust, with a strong credit quality profile.

Aflac Incorporated reported solid financial results for the first quarter of 2019. Net earnings increased significantly to $928 million, or $1.23 per diluted share, compared to $717 million, or $0.91 per diluted share, in the same period of 2018. This growth was driven by an increase in net investment income and a favorable turn in realized investment gains/losses compared to the prior year. The company's balance sheet remains robust, with total assets growing to $145.7 billion. Investments, the largest asset category, increased to $131.4 billion, reflecting continued strategic asset allocation. Policy liabilities also saw a modest increase, indicating stable business operations. Aflac also continued its commitment to returning capital to shareholders, repurchasing $490 million of common stock and increasing its quarterly dividend per share.

Aflac Inc. reported solid financial results for the third quarter and the first nine months of 2018, demonstrating growth in revenues and net earnings compared to the prior year. Total revenues increased to $5.6 billion for the third quarter and $16.6 billion for the first nine months, driven by growth in both Aflac Japan and Aflac U.S. segments. Net earnings rose to $845 million ($1.09 per diluted share) for the third quarter and $2.4 billion ($3.08 per diluted share) for the first nine months. This growth was supported by an increase in net investment income and favorable claims development, particularly in Japan, attributed to improved healthcare treatment patterns. The company also benefited from a lower effective tax rate following the U.S. Tax Cuts and Jobs Act. Shareholder returns were robust, with a significant share repurchase program continuing and an increase in dividends per share. The company maintained a strong capital position, with substantial levels of statutory capital and surplus. Aflac Japan, the primary driver of earnings, showed stable pretax adjusted earnings in yen, with increased investment income partially offset by planned increases in expenses. Aflac U.S. also reported growth in pretax adjusted earnings, driven by higher net investment income and improved benefit ratios. Overall, Aflac Inc. presented a positive financial picture with continued operational strength, strategic investments, and a commitment to shareholder returns, positioning it well for continued performance in its core markets.

Aflac Incorporated reported solid financial results for the second quarter and first six months of 2018, demonstrating growth in revenues and net earnings compared to the prior year. Total revenues increased, driven by higher net premiums and net investment income, with Aflac Japan continuing to be the primary contributor to the company's financial performance. Diluted earnings per share also saw a notable increase, reflecting the positive operational trends and the impact of the company's share repurchase program. The company also highlighted successful execution of its business strategies, including advancements in its Japan operations and continued focus on its core U.S. supplemental insurance products.

Aflac Incorporated reported strong financial results for the first quarter of 2018, with net earnings increasing to $717 million, or $0.91 per diluted share, up from $592 million, or $0.73 per diluted share, in the same period of the prior year. This growth was driven by higher net premiums and net investment income, partially offset by an increase in acquisition and operating expenses. The company also benefited from a lower effective income tax rate due to the Tax Cuts and Jobs Act enacted in late 2017. Aflac Japan remains the primary contributor to consolidated earnings, with its pretax adjusted earnings increasing to $818 million. The company continued its share repurchase program, returning capital to shareholders. Notable for investors is the ongoing conversion of Aflac Japan from a branch to a legal subsidiary, completed on April 1, 2018, which is expected to provide enhanced flexibility in capital management and business development. The company also experienced favorable claims development in its Japanese health products, largely attributed to improved treatment patterns leading to shorter hospital stays. Investors should monitor the impact of ongoing foreign currency fluctuations, particularly the strengthening yen, on reported results.

Aflac Incorporated's third quarter and nine-month results for 2017 showed solid performance, with net earnings increasing year-over-year for both periods. The company's strong presence in Japan continues to be a significant driver of its financial results, contributing the majority of total revenues and assets. Despite a weaker yen impacting reported U.S. dollar figures, Aflac Japan demonstrated positive trends in its core business, particularly in third sector insurance products like cancer and medical. In the U.S., Aflac U.S. also saw growth in annualized premiums, driven by sales across various channels and product categories, including accident and critical care insurance. The company maintained a strong capital position and continued its commitment to shareholder returns through share repurchases and dividend increases. Investment income remained a key contributor, though impacted by fluctuating interest rates and currency exchange rates. The company's investment portfolio is diversified across fixed maturities, perpetual securities, and equities, with a focus on managing risk and optimizing long-term returns. Aflac's proactive approach to hedging its foreign currency exposures, particularly for its Japanese operations, helped mitigate some of the adverse effects of currency fluctuations. Overall, the report indicates a stable financial outlook for Aflac, supported by its diversified business model and prudent financial management.

Aflac Incorporated reported revenues of $5.43 billion for the three months ended June 30, 2017, essentially flat compared to the prior year period. Net earnings increased significantly to $713 million, or $1.79 per diluted share, up from $548 million, or $1.32 per diluted share, in the same period last year. This improvement was primarily attributed to lower losses related to certain derivative and foreign currency activities. For the six-month period, revenues were $10.74 billion, a slight decrease from $10.89 billion in the prior year. Net earnings rose to $1.31 billion, or $3.25 per diluted share, compared to $1.28 billion, or $3.06 per diluted share, in the first half of 2016. The company's core business segments, Aflac Japan and Aflac U.S., both showed stable or improved pretax operating earnings. Aflac Japan's pretax operating earnings were $791 million for the quarter, down slightly from $802 million, while Aflac U.S. saw an increase to $330 million from $291 million. Shareholders' equity also saw a healthy increase, reflecting strong earnings and a net unrealized gain on investment securities and derivatives. The company continued its share repurchase program, buying back approximately 11.2 million shares for $800 million in the first half of 2017. Overall, the financial results demonstrate solid performance with improved profitability, driven by better management of certain financial instruments and positive trends in core insurance operations.

Aflac Incorporated reported net earnings of $592 million for the first quarter of 2017, a decrease from $731 million in the same period of 2016. This decline was primarily driven by a significant shift in realized investment gains/losses, moving from a net gain of $30 million in Q1 2016 to a net loss of $140 million in Q1 2017. This was influenced by substantial net losses from derivatives and foreign currency activities. Despite the decrease in net earnings, Aflac's core insurance operations showed resilience. Net premiums, primarily from supplemental health insurance, saw a slight increase to $4.638 billion from $4.602 billion. The company's Japan segment, Aflac Japan, continues to be the primary revenue generator, contributing $3.194 billion in net earned premiums, while Aflac U.S. contributed $1.390 billion. The company repurchased approximately $600 million of its common stock in the first quarter of 2017, demonstrating a commitment to returning capital to shareholders. Management remains focused on its core business and navigating the current low-interest-rate environment, particularly in Japan.

Aflac Incorporated reported solid financial results for the nine months ended September 30, 2016, with revenues reaching $16.6 billion and net earnings of $1.9 billion. The company's U.S. dollar-denominated net earnings per diluted share saw a significant increase to $4.59, up from $4.14 in the prior year period, reflecting the strengthening yen's positive impact on reported results. This favorable currency translation, coupled with robust performance in both the U.S. and Japan segments, contributed to the overall growth. Key financial drivers included strong net premium income and net investment income, particularly from Aflac Japan, which accounts for a substantial portion of the company's total revenues and assets. Despite realized investment losses, primarily due to derivative valuations, the company demonstrated effective management of its investment portfolio and operational expenses, leading to an increase in pretax operating earnings across both segments. Shareholder returns were supported by share repurchases totaling $1.2 billion and a declared cash dividend increase.

Aflac Incorporated reported solid financial results for the second quarter and first half of 2016, with revenues and net earnings showing growth year-over-year, driven by strong performance in both its U.S. and Japan segments. The company's net earnings for the first six months were $1.3 billion, a 4% increase compared to the prior year. This growth was supported by a significant increase in net earned premiums across both segments, reflecting successful sales efforts and product demand. The company also saw an increase in net investment income, though this was partially offset by realized investment losses, primarily from derivative and other activities. Aflac's financial condition remained robust, with total assets growing and shareholders' equity showing an increase, bolstered by strong accumulated other comprehensive income. The company continued its share repurchase program, demonstrating confidence in its financial stability and commitment to shareholder returns.

Aflac Incorporated reported strong financial results for the first quarter of 2016, with net earnings of $731 million, or $1.74 per diluted share, an increase from $663 million, or $1.51 per diluted share, in the prior year's first quarter. This growth was supported by a 3.0% increase in total operating revenues to $5.45 billion, driven by higher net premiums and net investment income, particularly benefiting from a stronger Japanese Yen relative to the U.S. Dollar. The company's core insurance operations in both Japan and the U.S. demonstrated resilience, with Aflac Japan continuing to be the primary earnings contributor. Aflac also continued its commitment to returning capital to shareholders, repurchasing $600 million of its common stock during the quarter while maintaining robust capital levels.

Aflac Incorporated reported a decline in net earnings and diluted earnings per share for both the three- and nine-month periods ended September 30, 2015, compared to the prior year. This decrease was primarily attributed to a weaker Japanese yen against the U.S. dollar, which negatively impacted revenue and earnings when translated. Additionally, the company recognized significant other-than-temporary impairment losses on certain securities during the period, particularly impacting the bank/financial institution bond category. Despite the earnings decline, Aflac Japan demonstrated strong sales growth in its third sector products (cancer and medical), benefiting from product enhancements and expanded distribution channels like Japan Post. The U.S. segment showed modest growth in net premium income and new annualized premium sales, with a focus on optimizing its sales force and introducing new group products. The company also actively managed its capital by redeeming senior notes and repurchasing its own stock.

Aflac Inc.'s (AFL) Q2 2015 report shows a notable decline in net earnings and revenues compared to the prior year, largely attributed to the weakening Yen against the US Dollar, which impacted the translation of Aflac Japan's results. Net earnings for the quarter fell to $573 million ($1.32/share) from $810 million ($1.78/share) in Q2 2014. Similarly, six-month net earnings decreased to $1.24 billion ($2.83/share) from $1.54 billion ($3.38/share) in the comparable period of 2014. Despite the headline declines, the underlying insurance operations showed resilience. Aflac Japan's "third sector" products (cancer and medical) saw strong sales growth, driven by new product enhancements and expanded distribution through Japan Post. Aflac U.S. also reported modest growth in net premiums and new annualized premium sales, with a focus on improving its sales structure and claims processing. The company also managed its capital effectively by redeeming $850 million of high-coupon debt and issuing new, lower-interest notes, which is expected to provide interest savings. Investors should note the significant unrealized losses on investment securities, primarily due to changes in interest rates and credit spreads, which impacted other comprehensive income. While these unrealized losses are largely considered temporary, they reduced total shareholders' equity. The company continues to manage its investment portfolio with a focus on asset-liability matching and diversification.

Aflac Incorporated reported a decrease in net earnings for the first quarter of 2015 compared to the same period in 2014, primarily driven by a weaker Japanese Yen, which negatively impacted the translation of its substantial Japanese operations into U.S. dollars. Despite the reported net earnings decline, the company's core insurance operations remained robust, with stable benefit ratios and controlled operating expenses in its U.S. segment, while Japan saw increased sales in key medical and cancer products. Financially, Aflac strengthened its capital position by issuing $1 billion in senior notes and used a portion of these proceeds to redeem higher-interest debt, resulting in lower future interest expenses. The company also continued its share repurchase program, demonstrating a commitment to returning capital to shareholders. Management expressed confidence in the company's financial health and its ability to meet future obligations, with key performance indicators remaining strong despite currency headwinds.

Aflac Incorporated reported solid financial results for the nine months ending September 30, 2014, with net earnings of $2.25 billion, or $4.93 per diluted share. This represents a slight decrease from the same period in 2013, primarily impacted by a weaker Japanese Yen and a reduction in net realized investment gains. Despite these factors, the company demonstrated resilience, with a slight increase in earnings per diluted share for the third quarter and stable operating earnings year-over-year. Aflac's investment portfolio remained robust, with a significant increase in net unrealized gains, reflecting positive market performance. The company continued its commitment to shareholder returns, repurchasing approximately $690 million in common stock during the first nine months of 2014 and increasing its cash dividend per share.

Aflac Inc. reported mixed financial results for the second quarter and first half of 2014. While net earnings and diluted earnings per share saw a decline compared to the same periods in 2013, primarily due to the weakening Japanese Yen and lower realized investment gains, the company's underlying insurance operations showed resilience. Aflac Japan, which constitutes the majority of the company's business, experienced a decline in yen-denominated revenues and pretax operating earnings, influenced by unfavorable foreign currency translation effects. However, the company highlighted an increase in third sector product sales (cancer and medical) and a stable benefit ratio, signaling continued demand for these essential offerings. In the U.S., Aflac U.S. reported stable premium income and a slight increase in pretax operating earnings, driven by lower incurred claims and an improved expense ratio. The company also continued its share repurchase program, repurchasing $515 million of common stock in the first half of 2014.

Aflac Incorporated reported its first quarter 2014 financial results, showing a decrease in net earnings compared to the previous year. Net earnings were $732 million ($1.60 per diluted share) for the quarter ended March 31, 2014, down from $892 million ($1.90 per diluted share) in the same period of 2013. This decline was primarily attributed to a weaker Japanese yen, which negatively impacted the translation of yen-denominated results into U.S. dollars, and a shift from net investment gains in the prior year to net investment losses in the current quarter. Despite the decline in net earnings, the company highlighted strong operational performance in its key segments. Aflac Japan's pretax operating earnings increased by 4.6% in yen (5.7% decrease in USD), driven by improved benefit and expense ratios. Aflac U.S. also showed a 7.9% increase in pretax operating earnings. The company continued its share repurchase program, repurchasing $415 million of its common stock in the quarter, demonstrating a commitment to returning capital to shareholders. Aflac maintained a strong capital position with a robust Risk-Based Capital (RBC) ratio exceeding 775%.

Aflac Inc. reported its third-quarter and nine-month results for the period ending September 29, 2013. The company experienced a decrease in revenues and net earnings compared to the same periods in the previous year, largely attributed to a weaker yen/dollar exchange rate. For the nine months ended September 30, 2013, net earnings were $2.5 billion, or $5.31 per diluted share, up from $2.3 billion, or $4.87 per diluted share, in the prior year. However, the third quarter showed a decline in net earnings to $702 million ($1.50 per diluted share) from $1.0 billion ($2.16 per diluted share) year-over-year. The company's investment portfolio, a key component of its financial performance, saw a significant decrease in unrealized gains, reflecting market fluctuations. Aflac Japan remains the primary contributor to the company's earnings, though its performance was impacted by currency translation effects. The U.S. segment showed modest growth in premium income and operating earnings. The company also executed strategic financing activities, including issuing new senior notes and entering into a revolving credit facility, while continuing its share repurchase program.

Aflac Incorporated reported solid financial results for the second quarter and first half of 2013, with net earnings and diluted earnings per share increasing significantly compared to the same periods in 2012. This improvement was driven by a substantial recovery in realized investment gains, which were negative in the prior year, and a favorable shift in foreign currency translation due to a weaker yen. Revenue growth was modest, with Aflac Japan showing a decline in yen-denominated premium income due to product repricing and a shift in customer focus, although annualized premiums in force remained strong. Aflac U.S. saw moderate growth in premium income. The company's investment portfolio experienced fluctuations, particularly in the fair value of available-for-sale securities, impacted by market conditions. Management highlighted efforts to manage market risk, including derisking activities and hedging strategies, particularly for its significant Japanese operations. The company also continued its share repurchase program and maintained strong capital levels.

Aflac Incorporated reported solid financial results for the first quarter of 2013, with net earnings of $892 million, or $1.90 per diluted share, representing an increase from the prior year's $785 million, or $1.68 per diluted share. This growth was primarily driven by strong performance in investment gains, which offset a slight decline in total revenues due to unfavorable currency exchange rates, particularly the weakening yen. The company's core insurance operations, especially Aflac Japan, demonstrated resilience, although premium income in yen saw a modest decrease, offset by favorable investment income and lower operating expenses. Key financial highlights include robust net earnings and earnings per share growth, a significant positive swing in realized investment gains compared to the prior year, and a stable to improving capital position. The company also continued its share repurchase program, returning value to shareholders. While currency fluctuations and a challenging low-interest-rate environment in Japan present ongoing considerations, Aflac's diversified business model and prudent financial management provide a stable foundation for future performance.

Aflac Incorporated reported strong financial results for the nine months ended September 30, 2012, with net earnings of $2.3 billion, a significant increase from $1.4 billion in the prior year period. This growth was driven by a 17.3% increase in total revenues to $19.0 billion, primarily fueled by robust performance in Aflac Japan, which contributed 78% of total revenues. The company also benefited from realized investment gains totaling $286 million in the third quarter, a notable improvement from the net realized investment losses of $83 million in the same period last year. Shareholders' equity saw a substantial increase, reaching $15.9 billion, reflecting accumulated other comprehensive income and retained earnings. Despite a challenging economic environment, particularly in Europe, Aflac continued its strategy of reducing risk in its investment portfolio. The company also managed its capital effectively, issuing new debt and maintaining a strong capital position, as evidenced by its robust solvency margin ratio in Japan and high Risk-Based Capital (RBC) ratio in the U.S. Overall, Aflac demonstrated resilience and profitability, underpinned by its diversified operations and prudent financial management.

Aflac Incorporated reported strong financial results for the second quarter and first half of 2012, with net earnings of $483 million and $1.27 billion, respectively. This represents a significant increase compared to the same periods in 2011, driven by a stronger Japanese yen relative to the U.S. dollar, which boosted revenues and earnings when translated. The company also saw a reduction in net realized investment losses compared to the prior year, although other-than-temporary impairment losses remained substantial. Aflac Japan continues to be the primary contributor to the company's overall performance, showing robust growth in premium income and pretax operating earnings. The U.S. segment also demonstrated moderate sales growth. The company maintained a strong capital position, with its solvency margin ratio in Japan significantly exceeding regulatory minimums. Despite ongoing global economic uncertainties and the European debt crisis, Aflac has actively managed its investment portfolio to reduce risk, particularly exposure to European financial institutions. For investors, the key takeaways include Aflac's resilience in a challenging economic environment, the significant positive impact of foreign currency translation on reported results, and a continued focus on managing investment portfolio risk. The company's strategic initiatives, such as expanding its sales channels in Japan and growing its group product offerings in the U.S., appear to be yielding positive results.

Aflac Incorporated (AFL) reported strong financial results for the first quarter ended March 31, 2012, with net earnings of $785 million, a significant increase from $389 million in the prior year period. Diluted earnings per share were $1.68, up from $0.83 in the first quarter of 2011. This performance was driven by higher revenues, primarily from Aflac Japan, which contributed 77% of total revenues. The company's investment portfolio generated lower realized investment losses compared to the previous year, with $45 million in net losses versus $579 million. Aflac continued its strategy to lower the risk profile of its investment portfolio, focusing on reducing exposure to European issuers and subordinated securities. While Aflac Japan showed robust growth in premium income and new annualized premium sales, driven by strong performance in its bank channel and WAYS product, Aflac U.S. also exhibited moderate growth in premium income and new annualized premium sales. Shareholders' equity saw an increase, and the company maintained strong capital positions with its solvency margin ratio in Japan significantly exceeding regulatory minimums. The company reiterated its positive outlook for the full year, with revised earnings per share growth expectations.

Aflac Incorporated reported solid financial results for the third quarter and the first nine months of 2011, driven by a stronger yen and continued sales momentum, particularly in its Japan segment. Total revenues increased by 11.0% year-over-year in the third quarter, reaching $6.0 billion, while net earnings grew to $744 million ($1.59 per diluted share) from $690 million ($1.46 per diluted share) in the prior year's quarter. For the first nine months, total revenues were up 4.9% to $16.2 billion, though net earnings declined to $1.4 billion ($3.02 per diluted share) from $1.9 billion ($4.03 per diluted share) in the comparable period of 2010. This decline was largely attributable to significant realized investment losses, including other-than-temporary impairments totaling $1.1 billion during the nine-month period, primarily due to a strategic effort to reduce investment risk exposure. Despite these investment challenges, the company's core insurance operations, especially in Japan, demonstrated resilience, with Aflac Japan achieving record sales production for the third quarter. The company also continued its share repurchase program and increased its quarterly dividend, signaling confidence in its financial stability and future prospects.

Aflac Inc. reported a significant decrease in net earnings for the second quarter and first half of 2011 compared to the same periods in 2010. This was primarily driven by substantial realized investment losses, totaling $668 million pretax in Q2 2011 and $1.2 billion pretax for the first half, compared to much smaller losses in the prior year. These losses were largely attributed to an implemented strategy to reduce investment portfolio risk and ongoing declines in the creditworthiness of certain issuers, leading to significant other-than-temporary impairment charges. Despite the decline in net earnings, the company's core insurance operations demonstrated resilience, particularly in Japan where premium income and pretax operating earnings saw solid growth, aided by a stronger yen and successful sales initiatives. Aflac U.S. also showed positive sales growth. The company maintained a strong capital position, with shareholders' equity reflecting net unrealized gains on investment securities.

Aflac Incorporated reported net earnings of $395 million for the first quarter of 2011, a decrease from $636 million in the prior year. This decline was primarily driven by significant realized investment losses totaling $579 million, which included $405 million in other-than-temporary impairments and $161 million from securities sold as part of a risk reduction strategy. Total revenues saw a modest increase of 1.0% to $5.12 billion, benefiting from a stronger yen. Despite the impact of investment losses, Aflac's core insurance operations remained robust. Aflac Japan, the primary contributor to earnings, reported pretax operating earnings of $980 million, a 19.3% increase in dollar terms, driven by strong premium income growth and effective expense management. Aflac U.S. also showed positive performance with pretax operating earnings of $253 million, a 3.7% increase. The company is actively managing its investment portfolio to reduce risk exposure, which impacted short-term results but is intended to bolster long-term financial stability.

Aflac Inc. reported strong financial results for the nine months ending September 30, 2010, with total revenues increasing by 13.0% to $15.4 billion and net earnings soaring by 53.2% to $1.9 billion compared to the same period in 2009. This robust performance was driven by higher premium income, particularly from its Aflac Japan segment, and a significant improvement in net investment income, which benefited from a stronger yen relative to the U.S. dollar and lower realized investment losses compared to the prior year. The company's strategic focus on its core supplemental insurance products in both the U.S. and Japan continues to yield positive results. The balance sheet reflects a strengthening of the company's financial position, with total assets growing to $97.8 billion. Shareholders' equity increased substantially, partly due to a significant positive adjustment in accumulated other comprehensive income related to investment securities. Aflac maintained a strong capital position, with risk-based capital ratios well above regulatory requirements, indicating financial stability and a capacity for future growth and shareholder returns.

This filing represents Amendment No. 1 to Aflac Incorporated's Quarterly Report on Form 10-Q for the period ended June 30, 2010. The primary purpose of this amendment is to furnish Exhibit 101, which contains the XBRL-formatted financial data from the original Form 10-Q. No substantive changes or updates to the financial information or disclosures from the original filing are made in this amendment. Investors should refer to the original Form 10-Q filed on August 2, 2010, for the actual financial performance and operational details of Aflac for the second quarter of 2010.

Aflac Incorporated reported strong financial results for the second quarter and first half of 2010, with net earnings increasing significantly year-over-year. This growth was primarily driven by a stronger Japanese yen relative to the U.S. dollar, which positively impacted revenue and earnings when translated. Lower realized investment losses, particularly from the absence of significant other-than-temporary impairment charges seen in the prior year, also contributed to the improved performance. The company's core insurance operations in both Japan and the U.S. showed resilience. Aflac Japan continued to benefit from a favorable sales environment for its popular child endowment and medical products, alongside a growing distribution network through banks. Aflac U.S. sales faced headwinds from the weak economic climate, but the company was actively pursuing growth through broker channels and new product offerings. Overall, Aflac demonstrated robust capital position and liquidity, with a strong yen providing a tailwind to reported financial metrics. The company maintained its financial strength, and management expressed confidence in achieving its full-year earnings guidance.

Aflac Incorporated (AFL) reported strong first-quarter 2010 results, with net earnings increasing by 11.8% year-over-year to $636 million, or $1.35 per diluted share. Total revenues grew by 5.1% to $5.1 billion, driven by growth in both Aflac Japan and Aflac U.S. segments. The company's performance benefited from a stronger Japanese Yen, which positively impacted reported U.S. dollar results. While the company experienced net realized investment losses of $46 million, this was primarily due to other-than-temporary impairments totaling $42 million. The company's investment portfolio saw a significant reduction in gross unrealized losses on available-for-sale debt and perpetual securities, primarily due to improved fair values. Management remains confident in the company's financial condition and its ability to meet policyholder obligations.

Aflac Incorporated reported strong financial results for the third quarter and first nine months of 2009, driven by robust performance in its core insurance operations, particularly in Japan. Total revenues increased due to higher premium income and net investment income. The company successfully managed benefits and expenses, leading to a notable increase in net earnings and diluted earnings per share compared to the prior year. The balance sheet remained solid, with growth in total assets and policy liabilities, reflecting the ongoing expansion of its business. While the company faced challenges related to investment impairments, particularly in its perpetual securities portfolio, these were largely managed within the context of the broader economic environment. Aflac continued its focus on operational efficiency, sales growth initiatives, and maintaining a strong capital position.