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Aflac AFL Aflac U.S. — Future policy benefits & unpaid policy claims

Other segment segments

Aflac Japan
$52.6B-13.6%
Corporate and other
$4.1B-14.9%

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Other financials

Income statement

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Revenue$4.1B-1.0%
Net income$825.0M+37.7%
EPS (diluted)$1.63+46.8%

Balance sheet

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Cash & equivalents$6.1B-12.1%
Total debt$8.8B-2.4%
Total equity$30.3B+11.4%
Total assets$115.96B-7.0%

Cash flow

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Operating cash flow$112.0M-71.9%

Valuation

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Market cap$62.59B+12.3%
Enterprise value$65.28B+13.0%
P/E12.9×-10.0×
P/S3.5×0.0×

Profitability

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Net margin26.9%+11.6pp

Returns & leverage

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Return on equity16.9%+7.8pp
Debt / equity0.3×0.0×

Where this comes from

Reported directly by Aflac in its filing.

Tagged under the XBRL concept us-gaap:SupplementaryInsuranceInformationLiabilityForFuturePolicyBenefitsLossesClaimsAndLossExpenseReserves.

The source filing: Aflac’s 10-K, filed February 25, 2026.

Filed
Feb 25, 2026, 8:03 AM EST
Fiscal year
FY2025
Accession
0001628280-26-011402
(In millions)Deferred Policy Acquisition CostsFuture Policy Benefits & Unpaid Policy ClaimsUnearned PremiumsOther Policyholders'Funds
2025:
Aflac Japan$5,302$52,602$1,245$5,445
Aflac U.S.3,73211,281970
All other04,099(11)0
Intercompany eliminations0(5,167)(8)0
Total$9,034$62,815$1,323$5,445
2024:
Aflac Japan$5,102$60,890$1,199$5,460

ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES

FAQ

What is Aflac's aflac U.S. — future policy benefits & unpaid policy claims?
Aflac (AFL) reported aflac U.S. — future policy benefits & unpaid policy claims of $11.28B in Q4 2025.
How has Aflac's aflac U.S. — future policy benefits & unpaid policy claims changed year-over-year?
Aflac's aflac U.S. — future policy benefits & unpaid policy claims increased by 2.9% year-over-year, from $10.96B to $11.28B.
What does aflac U.S. — future policy benefits & unpaid policy claims mean?
This represents the estimated liability for future insurance benefits and unpaid claims that the U.S. segment is obligated to pay to policyholders. It is a critical reserve metric that ensures the company can meet its long-term contractual commitments. Changes in this balance reflect actuarial assumptions and the growth of the insurance book.

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