Summary
Aflac Incorporated (AFL) filed an 8-K on February 26, 2015, to report a minor revision to its previously announced fourth quarter and full-year 2014 financial results. The primary adjustment involved a refinement of the company's estimate for deferred income taxes related to unrealized foreign currency translation. This refinement led to a reduction in reported shareholders' equity as of December 31, 2014, and a corresponding decrease in shareholders' equity per share.
Key Highlights
- 1Shareholders' equity revised downwards from $18.7 billion to $18.3 billion as of December 31, 2014.
- 2Shareholders' equity per share decreased from $42.30 to $41.47 as of December 31, 2014.
- 3The revision is due to a refined estimate of deferred income taxes associated with unrealized foreign currency translation.
- 4Annualized return on shareholders' equity for Q4 2014 was slightly revised upwards from 16.3% to 16.5%.
- 5Annualized return on shareholders' equity for Q4 2014, excluding yen impact, was revised upwards from 18.9% to 19.1%.
- 6Full-year operating return on average shareholders' equity, excluding currency, was revised upwards from 22.6% to 22.9%.