Aflac Incorporated (AFL) · 38 Years of Financial statements

Income Statement

Revenue

955

1,402

1,876

2,325

2,438

2,678

3,283

3,987

5,001

6,111

7,191

7,100

7,251

7,104

8,640

9,720

9,598

10,257

11,447

13,281

14,363

14,616

15,393

16,554

18,254

20,732

22,171

25,272

23,827

22,606

20,845

22,380

21,600

21,689

22,223

22,114

21,923

19,502

COGS

- -

Gross Profit

- -

19,502

Gross Profit Ratio

- -

100.00%

Operating Expenses

- -

490

R&D Expenses

- -

Selling, G&A Exp.

- -

1,879

2,128

2,350

2,583

2,640

2,822

1,460

1,568

3,699

3,950

- -

General and Admin. Exp.

- -

842

982

1,098

1,281

1,337

1,491

- -

2,062

2,225

- -

Selling and Marketing Exp.

- -

1,037

1,146

1,252

1,302

1,303

1,331

1,460

1,568

1,637

1,725

- -

Other Expenses

- -

490

COGS and Expenses

4

6

5

11

19

15

14

458

564

5,606

6,590

6,450

6,386

6,553

7,862

8,708

8,517

8,998

10,222

11,474

12,137

12,352

12,894

14,640

16,019

17,147

19,179

20,970

19,011

18,115

16,983

18,313

17,582

17,706

17,778

17,955

16,601

14,898

Interest Income

- -

Interest Expense

4

6

5

11

19

15

14

6

2

13

16

14

13

18

19

20

22

23

19

27

29

72

149

196

261

293

317

289

268

240

222

228

242

238

215

Depreciation and Amortization

- -

43

- -

74

- -

EBITDA

99

137

169

210

197

232

279

331

442

518

617

666

879

607

796

1,031

1,100

1,279

1,247

1,830

2,249

2,283

2,526

2,017

2,307

3,734

3,188

4,563

5,109

4,808

4,151

4,335

4,258

4,205

4,673

4,401

5,560

4,819

EBITDA ratio

10.34%

9.74%

8.98%

9.02%

8.09%

8.65%

8.49%

8.29%

8.84%

8.47%

8.58%

9.38%

12.12%

8.54%

9.21%

10.61%

11.46%

12.47%

10.89%

13.78%

15.66%

15.62%

16.41%

12.18%

12.64%

18.01%

14.38%

18.06%

21.44%

21.27%

19.91%

19.37%

19.71%

19.39%

21.03%

19.90%

25.36%

24.71%

Operating Income

- -

Operating Income ratio

- -

Total Other Income Exp.(Gains)

- -

405

419

517

617

776

91

95

166

305

25

20

33

18

62

40

34

40

52

59

36

80

74

81

- -

Income Before Tax

- -

504

601

650

865

551

778

1,012

1,081

1,259

1,225

1,807

2,226

2,264

2,499

1,914

2,235

3,585

2,992

4,302

4,816

4,491

3,862

4,067

4,018

3,983

4,445

4,159

5,322

4,604

Income Before Tax ratio

- -

8.25%

8.36%

9.15%

11.93%

7.76%

9.00%

10.41%

11.26%

12.27%

10.70%

13.61%

15.50%

15.49%

16.23%

11.56%

12.24%

17.29%

13.50%

17.02%

20.21%

19.87%

18.53%

18.17%

18.60%

18.36%

20.00%

18.81%

24.28%

23.61%

Income Tax Expense (Gain)

40

53

70

90

97

99

116

141

185

212

252

256

280

64

207

325

394

438

430

508

743

781

865

660

738

1,241

1,028

1,436

1,658

1,540

1,329

1,408

(586)

1,063

1,141

(619)

997

403

Net Income

54

78

93

109

81

117

149

183

255

293

349

394

585

487

571

687

821

795

1,299

1,483

1,634

1,254

1,497

2,344

1,964

2,866

3,158

2,951

2,533

2,659

4,604

2,920

3,304

4,778

4,325

4,201

Net Income Ratio

5.68%

5.58%

4.97%

4.68%

3.31%

4.38%

4.53%

4.60%

5.10%

4.79%

4.85%

5.55%

8.07%

6.86%

6.61%

7.07%

7.16%

8.00%

6.95%

9.78%

10.33%

10.15%

10.62%

7.58%

8.20%

11.31%

8.86%

11.34%

13.25%

13.05%

12.15%

11.88%

21.31%

13.46%

14.87%

21.61%

19.73%

21.54%

EPS

0.04

0.07

0.08

0.09

0.07

0.10

0.13

0.15

0.21

0.24

0.29

0.34

0.54

0.46

0.54

0.65

0.66

0.80

0.78

1.28

1.48

1.50

1.68

1.32

1.60

2.50

2.10

3.07

3.40

3.27

2.94

3.23

5.52

3.79

4.45

6.69

6.42

6.24

EPS Diluted

0.04

0.07

0.08

0.09

0.07

0.10

0.12

0.15

0.20

0.24

0.29

0.34

0.52

0.44

0.52

0.63

0.64

0.78

0.76

1.26

1.46

1.48

1.66

1.31

1.59

2.48

2.09

3.06

3.38

3.25

2.92

3.21

5.48

3.77

4.43

6.67

6.39

6.21

Weighted Avg. Shares Outs.

1,204

1,203

1,166

1,210

1,154

1,172

1,190

1,223

1,262

1,237

1,196

1,156

1,088

1,065

1,063

1,061

1,050

1,035

1,026

1,015

1,002

991

976

947

933

938

933

934

929

902

861

823

792

770

742

714

674

Weighted Avg. Shares Outs. Dil.

1,204

1,203

1,166

1,210

1,154

1,234

1,239

1,223

1,262

1,242

1,205

1,159

1,126

1,103

1,102

1,090

1,075

1,057

1,044

1,033

1,015

1,004

988

958

938

946

939

935

908

866

828

798

775

746

716

677

SEC Link

Link

Balance Sheet

Cash and Cash Equivalents

- -

18

4

- -

236

374

616

609

852

1,379

1,052

3,813

1,297

1,203

1,563

941

2,323

2,121

2,249

2,041

2,543

4,658

4,350

4,859

3,491

4,337

4,896

5,141

5,051

3,943

Short-Term Investments

- -

331

232

262

43

10

- -

87

- -

135

168

61,578

61,038

68,270

67,794

76,702

85,336

82,895

91,262

105,882

98,696

71,936

Cash & Short-Term Investments

- -

349

236

262

279

384

616

609

852

1,379

1,052

3,813

1,297

1,203

1,563

1,028

2,323

2,256

2,417

63,619

63,581

72,928

72,144

81,561

88,827

87,232

96,158

111,023

103,747

75,879

Net Receivables

- -

120

144

160

180

232

304

321

227

216

272

270

301

347

435

547

417

584

535

732

920

764

661

680

976

1,165

842

705

669

827

851

828

796

693

647

Inventory

- -

Other Current Assets

- -

6,140

7,633

9,732

11,382

14,736

18,945

24,124

24,001

- -

36,656

- -

41,518

Total Current Assets

- -

6,261

7,777

9,891

11,562

14,968

19,597

24,681

24,490

- -

37,855

- -

118,044

PP&E

- -

125

132

223

361

580

552

472

386

427

509

481

5

482

518

515

448

458

496

597

593

620

617

564

481

429

427

433

434

443

581

601

538

530

Goodwill

- -

Intangible Assets

- -

130

126

121

117

114

110

105

61

- -

Goodwill and Intangible Assets

- -

130

126

121

117

114

110

105

61

- -

Investments

- -

37,741

42,966

48,101

47,635

50,711

55,432

67,609

70,755

86,109

101,213

116,004

105,453

102,512

101,253

110,052

116,766

114,200

122,149

131,629

122,299

45,461

Tax Assets

- -

Other Non-Current Assets

- -

(45,461)

Total Non-Current Assets

- -

255

258

253

340

475

690

657

533

- -

5

- -

530

Other Assets

2,271

3,302

5,031

6,074

- -

29,454

31,183

37,041

37,232

- -

45,058

50,964

59,326

56,361

59,805

65,805

79,331

84,106

101,039

117,102

131,094

121,307

119,767

118,296

129,819

137,217

140,406

152,768

165,086

157,542

12,443

Total Assets

2,271

3,302

5,031

6,074

6,515

8,035

10,145

11,901

15,443

20,287

25,338

25,023

29,454

31,183

37,041

37,232

37,860

45,058

50,964

59,326

56,361

59,805

65,805

79,331

84,106

101,039

117,102

131,094

121,307

119,767

118,296

129,819

137,217

140,406

152,768

165,086

157,542

131,017

Accounts Payable

- -

603

1,458

673

3,250

173

- -

127

765

1,323

374

2,887

622

807

808

- -

483

191

838

- -

Short-Term Debt

- -

107

66

63

59

15

- -

18

7

- -

300

- -

7,442

Tax Payable

- -

2,364

2,189

2,583

2,577

2,462

2,531

1,201

1,653

1,969

2,613

3,858

3,718

5,293

4,340

5,387

4,745

4,020

5,370

4,661

4,339

1,296

Deferred Revenue

- -

Other Current Liabilities

- -

17,747

21,449

21,878

22,262

26,662

32,082

31,363

30,496

- -

Total Current Liabilities

- -

107

66

63

59

15

18,350

22,907

22,569

25,519

26,835

32,082

31,490

31,261

- -

8,738

Long-Term Debt

41

24

37

77

107

92

76

66

107

185

327

336

516

596

1,111

1,079

1,207

1,312

1,409

1,429

1,395

1,426

1,465

3,454

2,599

3,038

3,285

4,352

4,897

4,982

5,011

5,360

5,289

5,778

6,569

7,899

7,956

7,442

Deferred Revenue

- -

Deferred Tax Liabilities

- -

Other Non-Current Liabilities

- -

0

(30)

(8)

(11)

(18)

(20)

(31)

(33)

- -

77,078

Total Non-Current Liabilities

41

24

37

77

107

92

76

66

107

185

297

328

505

578

1,091

1,048

1,174

- -

84,520

Other Liabilities

1,891

2,832

4,445

5,354

5,599

7,086

9,082

10,694

13,955

0

- -

0

- -

38,664

44,318

51,753

48,434

51,464

57,010

72,692

75,689

89,983

103,596

115,116

106,687

101,420

100,588

109,337

112,619

116,944

123,809

131,527

124,289

15,394

Capital Lease Obligations

- -

9

6

14

20

21

22

13

161

154

117

- -

Total Liabilities

1,932

2,856

4,481

5,431

5,813

7,244

9,221

10,820

14,077

18,535

23,204

22,897

26,024

27,413

33,173

32,538

32,435

38,664

44,318

51,753

48,434

51,464

57,010

72,692

75,689

89,983

103,596

115,116

106,687

101,420

100,588

109,337

112,619

116,944

123,809

131,527

124,289

108,652

Preferred Stock

- -

Common Stock

- -

10

16

32

65

66

67

135

Retained Earnings

143

228

312

400

457

548

666

814

1,030

1,277

1,578

1,918

2,442

2,862

3,356

3,956

4,542

5,244

5,885

6,992

8,048

9,304

10,637

11,306

12,410

14,194

15,583

17,387

19,885

22,156

24,007

25,981

29,895

31,788

34,291

37,984

41,381

44,568

Other Compreh. Income(Loss)

- -

2,630

2,493

2,609

1,957

1,426

934

(582)

29

862

2,090

2,715

(563)

1,979

625

2,630

4,028

2,151

6,615

8,934

7,393

- -

Other Total Stockhold. Equity

196

219

238

242

245

243

257

268

326

464

541

192

972

876

480

706

818

(1,545)

(1,797)

(2,093)

(2,143)

(2,455)

(2,842)

(4,151)

(4,088)

(4,066)

(4,233)

(4,191)

(4,769)

(5,855)

(6,991)

(8,196)

(9,392)

(10,612)

(12,082)

(13,494)

(15,656)

- -

Total Stockholders Equity

340

446

549

642

702

791

924

1,082

1,366

1,752

2,134

2,126

3,430

3,770

3,868

4,694

5,425

6,394

6,646

7,573

7,927

8,341

8,795

6,639

8,417

11,056

13,506

15,978

14,620

18,347

17,708

20,482

24,598

23,462

28,959

33,559

33,253

22,365

Total Liab.&Stockhold. Equity

2,271

3,302

5,031

6,074

6,515

8,035

10,145

11,901

15,443

20,287

25,338

25,023

29,454

31,183

37,041

37,232

37,860

45,058

50,964

59,326

56,361

59,805

65,805

79,331

84,106

101,039

117,102

131,094

121,307

119,767

118,296

129,819

137,217

140,406

152,768

165,086

157,542

131,017

Minority Interest

- -

Total Liabilities & Equity

2,271

3,302

5,031

6,074

6,515

8,035

10,145

11,901

15,443

20,287

25,338

25,023

29,454

31,183

37,041

37,232

37,860

45,058

50,964

59,326

56,361

59,805

65,805

79,331

84,106

101,039

117,102

131,094

121,307

119,767

118,296

129,819

137,217

140,406

152,768

165,086

157,542

131,017

SEC Link

Link

Cash Flow Statement

Net Income

- -

81

117

149

183

244

293

349

394

585

487

571

687

821

795

1,299

1,483

1,634

1,254

1,497

2,344

1,964

2,866

3,158

2,951

2,533

2,659

4,604

2,920

3,304

4,778

4,325

4,201

Depreciation and Amortization

- -

43

- -

Deferred Income Tax

- -

70

32

56

36

48

65

18

16

(12)

(213)

(23)

(13)

56

- -

Stock Based Compensation

- -

6

Change in Working Capital

- -

1,538

1,732

2,191

2,574

3,288

3,857

4,832

4,372

4,181

3,902

4,542

4,854

4,024

2,069

2,230

3,086

3,158

2,969

2,985

2,492

3,206

4,238

7,302

11,771

7,387

3,505

3,394

2,974

1,559

2,352

1,828

656

1,166

(328)

Accounts Receivable

- -

(12)

(19)

(8)

(19)

(39)

(45)

125

(32)

8

4

- -

(45)

- -

Inventory

- -

Accounts Payable

- -

848

955

1,189

1,406

1,783

2,236

2,539

2,483

2,310

2,173

2,570

2,737

2,380

- -

Other Working Capital

- -

Other Non-Cash Items

- -

(822)

(875)

(1,155)

(1,289)

(1,735)

(1,846)

(2,255)

(2,085)

(2,156)

(1,729)

(2,283)

(2,245)

(1,918)

148

364

101

(208)

(55)

37

1,219

1,458

407

1,576

315

2

94

849

354

(35)

742

323

524

(440)

- -

Cash Provided by Operating Activities

- -

867

1,007

1,241

1,504

1,845

2,369

2,944

2,697

2,598

2,490

2,807

3,283

2,849

3,038

3,389

4,486

4,433

4,397

4,656

4,965

6,161

6,989

10,842

14,952

10,547

6,550

6,776

5,987

6,128

6,014

5,455

5,958

5,051

3,879

CAPEX

- -

(14)

(23)

(11)

(97)

(112)

(185)

(17)

(9)

(8)

(40)

(14)

(26)

(45)

(25)

(21)

(16)

(23)

(46)

(49)

- -

Acquisitions Net

- -

351

(8)

- -

(83)

- -

(40)

- -

Purchases of Investments

- -

(1,647)

(1,508)

(2,325)

(3,048)

(2,818)

(3,618)

(4,126)

(4,919)

(4,994)

(3,026)

(4,309)

(4,453)

(8,135)

(5,942)

(6,467)

(6,205)

(8,894)

(7,365)

(6,768)

(8,015)

(11,690)

(12,283)

(27,387)

(36,083)

(31,347)

(14,911)

(9,150)

(13,087)

(12,952)

(10,181)

(7,943)

(6,130)

(7,371)

- -

Sales/Maturities of Investments

- -

809

593

1,161

1,675

1,111

1,556

1,280

2,289

2,089

3,060

4,313

5,735

8,551

3,226

3,721

2,302

4,455

3,141

3,192

3,124

7,583

5,191

15,973

13,178

19,573

13,857

5,770

9,724

7,794

9,987

6,556

3,981

4,624

4,418

Other Investing Activities

- -

(27)

13

- -

25

- -

99

128

(2,231)

(2,728)

(4,315)

(2,844)

442

(754)

2,485

(2,253)

167

(78)

657

(1,286)

(340)

585

5,953

683

(3,187)

(1,477)

(492)

(273)

(3,388)

(1,784)

(2,470)

369

(5,958)

Cash Used for Investing Activities

- -

(878)

(925)

(1,175)

(1,470)

(1,794)

(2,247)

(2,864)

(2,540)

(2,434)

(2,245)

(2,738)

(3,059)

(2,473)

(2,274)

(3,500)

(1,418)

(6,692)

(4,057)

(3,654)

(4,283)

(5,476)

(7,432)

(10,829)

(16,952)

(11,091)

(4,241)

(4,897)

(3,855)

(5,431)

(3,582)

(3,171)

(4,619)

(2,378)

(1,540)

Debt Repayment

- -

(43)

(56)

(19)

(15)

(32)

(43)

(31)

(76)

(203)

(125)

(94)

(187)

(116)

(234)

(20)

(12)

(269)

(377)

(247)

(5)

(560)

(451)

(462)

(341)

- -

(335)

(1,272)

(610)

(1,161)

(550)

- -

(350)

(700)

(1,416)

Common Stock Issued

- -

3

10

35

40

44

39

31

38

35

33

39

50

42

47

32

17

45

26

32

88

33

36

46

33

58

49

34

26

- -

Common Stock Repurchased

- -

(132)

(224)

(204)

(314)

(125)

(224)

(239)

(350)

(346)

(343)

(392)

(438)

(470)

(606)

(1,490)

(10)

(121)

(308)

(118)

(813)

(1,210)

(1,315)

(1,422)

(1,351)

(1,301)

(1,627)

(1,537)

(2,301)

(2,401)

Dividends Paid

- -

(24)

(27)

(30)

(35)

(40)

(45)

(49)

(54)

(61)

(67)

(72)

(82)

(95)

(112)

(146)

(182)

(209)

(258)

(373)

(434)

(524)

(535)

(552)

(603)

(635)

(654)

(656)

(658)

(661)

(793)

(771)

(769)

(855)

(979)

Other Financing Activities

- -

85

2

1

7

4

86

202

142

416

132

464

309

481

337

178

234

670

629

524

514

1,776

1,223

1,360

2,975

2,496

2,019

1,020

1,025

1,075

970

636

1,507

1,091

1,245

Cash Used/Provided by Financing Activities

- -

18

(81)

(48)

(44)

(68)

(130)

(93)

(158)

(122)

(141)

113

(168)

(42)

(320)

(298)

(313)

(196)

(434)

(655)

(1,383)

699

161

64

1,945

1,136

(147)

(2,187)

(1,619)

(2,065)

(1,616)

(1,713)

(1,115)

(2,739)

(3,551)

Effect of Forex Changes on Cash

- -

(3)

2

0

3

2

(1)

(3)

(16)

34

60

(63)

(91)

83

82

6

(61)

- -

13

79

(2)

80

51

(153)

(90)

(47)

- -

(4)

- -

30

(12)

21

(24)

104

Net Change In Cash

- -

18

(81)

(48)

(44)

(13)

(6)

(14)

(158)

27

138

242

(7)

243

527

(327)

2,761

(2,516)

(94)

360

(622)

1,382

(202)

128

(208)

502

2,115

(308)

509

(1,368)

846

559

245

(90)

(1,108)

Cash at the End of Period

- -

23

18

4

- -

236

374

616

609

852

1,379

1,052

3,813

1,297

1,203

1,563

941

2,323

2,121

2,249

2,041

2,543

4,658

4,350

4,859

3,491

4,337

4,896

5,141

5,051

3,943

Cash at the Beginning of Period

- -

20

24

26

46

36

23

18

4

209

236

374

616

609

852

1,379

1,052

3,813

1,297

1,203

1,563

941

2,323

2,121

2,249

2,041

2,543

4,658

4,350

4,859

3,491

4,337

4,896

5,141

5,051

Free Cash Flow

- -

853

984

1,230

1,407

1,733

2,184

2,927

2,688

2,591

2,450

2,793

3,257

2,804

3,013

3,368

4,465

4,417

4,374

4,610

4,916

6,161

6,989

10,842

14,952

10,547

6,550

6,776

5,987

6,128

6,014

5,455

5,958

5,051

3,879

SEC Link

Link

Forex Rate

- -

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