XML 32 R15.htm IDEA: XBRL DOCUMENT
v3.5.0.2

SHAREHOLDERS' EQUITY | 9 Months Ended
--- | ---
Sep. 30, 2016
Stockholders' Equity Note [Abstract] |
SHAREHOLDERS' EQUITY | SHAREHOLDERS’ EQUITY The following table is a reconciliation of the number of shares of the Company's common stock for the nine-month periods ended September 30.
(In thousands of shares) | 2016 |  | 2015
Common stock - issued: |  |  |
Balance, beginning of period | 669,723 |  |  | 668,132 |
Exercise of stock options and issuance of restricted shares | 1,261 |  |  | 1,377 |
Balance, end of period | 670,984 |  |  | 669,509 |
Treasury stock: |  |  |
Balance, beginning of period | 245,343 |  |  | 225,687 |
Purchases of treasury stock: |  |  |
Open market | 18,774 |  |  | 17,421 |
Other | 329 |  |  | 241 |
Dispositions of treasury stock: |  |  |
Shares issued to AFL Stock Plan | (822 | ) |  | (919 | )
Exercise of stock options | (554 | ) |  | (375 | )
Other | (107 | ) |  | (113 | )
Balance, end of period | 262,963 |  |  | 241,942 |
Shares outstanding, end of period | 408,021 |  |  | 427,567 |
Outstanding share-based awards are excluded from the calculation of weighted-average shares used in the computation of basic earnings per share (EPS). The following table presents the approximate number of share-based awards to purchase shares, on a weighted-average basis, that were considered to be anti-dilutive and were excluded from the calculation of diluted earnings per share for the following periods.
| Three Months Ended September 30, | Nine Months Ended September 30, |
(In thousands) | 2016 |  | 2015 | 2016 |  | 2015
Anti-dilutive share-based awards |  | 109 |  |  |  |  | 2,126 |  |  |  | 1,162 |  |  |  |  | 1,798 |  |
Share Repurchase Program During the first nine months of 2016, we repurchased 18.8 million shares of our common stock in the open market for $1.2 billion as part of our share repurchase program. During the first nine months of 2015, we repurchased 17.4 million shares of our common stock in the open market for $1.1 billion as part of our share repurchase program. As of September 30, 2016, a remaining balance of 29.6 million shares of our common stock was available for purchase under share repurchase authorizations by our board of directors. Reclassifications from Accumulated Other Comprehensive Income The tables below are reconciliations of accumulated other comprehensive income by component for the following periods. Changes in Accumulated Other Comprehensive Income
Three Months Ended September 30, 2016
(In millions) | Unrealized Foreign Currency Translation Gains (Losses) |  | Unrealized Gains (Losses) on Investment Securities |  | Unrealized Gains (Losses) on Derivatives |  | Pension Liability Adjustment |  | Total
Balance, beginning of period |  | $ | (847 | ) |  |  |  | $ | 6,441 |  |  |  |  | $ | (19 | ) |  |  |  | $ | (143 | ) |  |  |  | $ | 5,432 |  |
Other comprehensive income (loss) before reclassification |  | 253 |  |  |  |  | (342 | ) |  |  |  | 0 |  |  |  |  | (1 | ) |  |  |  | (90 | ) |
Amounts reclassified from accumulated other comprehensive income (loss) |  | 0 |  |  |  |  | 21 |  |  |  |  | 0 |  |  |  |  | 1 |  |  |  |  | 22 |  |
Net current-period other comprehensive income (loss) |  | 253 |  |  |  |  | (321 | ) |  |  |  | 0 |  |  |  |  | 0 |  |  |  |  | (68 | ) |
Balance, end of period |  | $ | (594 | ) |  |  |  | $ | 6,120 |  |  |  |  | $ | (19 | ) |  |  |  | $ | (143 | ) |  |  |  | $ | 5,364 |  |
All amounts in the table above are net of tax.
Three Months Ended September 30, 2015
(In millions) | Unrealized Foreign Currency Translation Gains (Losses) |  | Unrealized Gains (Losses) on Investment Securities |  | Unrealized Gains (Losses) on Derivatives |  | Pension Liability Adjustment |  | Total
Balance, beginning of period |  | $ | (2,725 | ) |  |  |  | $ | 3,384 |  |  |  |  | $ | (27 | ) |  |  |  | $ | (125 | ) |  |  |  | $ | 507 |  |
Other comprehensive income (loss) before reclassification |  | 192 |  |  |  |  | (260 | ) |  |  |  | (1 | ) |  |  |  | 0 |  |  |  |  | (69 | ) |
Amounts reclassified from accumulated other comprehensive income (loss) |  | 0 |  |  |  |  | 90 |  |  |  |  | 0 |  |  |  |  | 0 |  |  |  |  | 90 |  |
Net current-period other comprehensive income (loss) |  | 192 |  |  |  |  | (170 | ) |  |  |  | (1 | ) |  |  |  | 0 |  |  |  |  | 21 |  |
Balance, end of period |  | $ | (2,533 | ) |  |  |  | $ | 3,214 |  |  |  |  | $ | (28 | ) |  |  |  | $ | (125 | ) |  |  |  | $ | 528 |  |
All amounts in the table above are net of tax.
Nine Months Ended September 30, 2016
(In millions) | Unrealized Foreign Currency Translation Gains (Losses) |  | Unrealized Gains (Losses) on Investment Securities |  | Unrealized Gains (Losses) on Derivatives |  | Pension Liability Adjustment |  | Total
Balance, beginning of period |  | $ | (2,196 | ) |  |  |  | $ | 2,986 |  |  |  |  | $ | (26 | ) |  |  |  | $ | (139 | ) |  |  |  | $ | 625 |  |
Other comprehensive income (loss) before reclassification |  | 1,602 |  |  |  |  | 3,155 |  |  |  |  | 7 |  |  |  |  | (7 | ) |  |  |  | 4,757 |  |
Amounts reclassified from accumulated other comprehensive income (loss) |  | 0 |  |  |  |  | (21 | ) |  |  |  | 0 |  |  |  |  | 3 |  |  |  |  | (18 | ) |
Net current-period other comprehensive income (loss) |  | 1,602 |  |  |  |  | 3,134 |  |  |  |  | 7 |  |  |  |  | (4 | ) |  |  |  | 4,739 |  |
Balance, end of period |  | $ | (594 | ) |  |  |  | $ | 6,120 |  |  |  |  | $ | (19 | ) |  |  |  | $ | (143 | ) |  |  |  | $ | 5,364 |  |
All amounts in the table above are net of tax.
Nine Months Ended September 30, 2015
(In millions) | Unrealized Foreign Currency Translation Gains (Losses) |  | Unrealized Gains (Losses) on Investment Securities |  | Unrealized Gains (Losses) on Derivatives |  | Pension Liability Adjustment |  | Total
Balance, beginning of period |  | $ | (2,541 | ) |  |  |  | $ | 4,672 |  |  |  |  | $ | (26 | ) |  |  |  | $ | (126 | ) |  |  |  | $ | 1,979 |  |
Other comprehensive income (loss) before reclassification |  | 8 |  |  |  |  | (1,471 | ) |  |  |  | (2 | ) |  |  |  | 0 |  |  |  |  | (1,465 | ) |
Amounts reclassified from accumulated other comprehensive income (loss) |  | 0 |  |  |  |  | 13 |  |  |  |  | 0 |  |  |  |  | 1 |  |  |  |  | 14 |  |
Net current-period other comprehensive income (loss) |  | 8 |  |  |  |  | (1,458 | ) |  |  |  | (2 | ) |  |  |  | 1 |  |  |  |  | (1,451 | ) |
Balance, end of period |  | $ | (2,533 | ) |  |  |  | $ | 3,214 |  |  |  |  | $ | (28 | ) |  |  |  | $ | (125 | ) |  |  |  | $ | 528 |  |
All amounts in the table above are net of tax. The tables below summarize the amounts reclassified from each component of accumulated other comprehensive income based on source for the following periods. Reclassifications Out of Accumulated Other Comprehensive Income
(In millions) | Three Months Ended September 30, 2016 |
Details about Accumulated Other Comprehensive Income Components | Amount Reclassified from Accumulated Other Comprehensive Income | Affected Line Item in the Statements of Earnings
Unrealized gains (losses) on available-for-sale securities |  | $ | (11 | ) |  | Sales and redemptions
|  | (22 | ) |  | Other-than-temporary impairment losses realized
|  | (33 | ) |  | Total before tax
|  | 12 |  |  | Tax (expense) or benefit(1)
|  | $ | (21 | ) |  | Net of tax
Amortization of defined benefit pension items: |  |  |  |
Actuarial gains (losses) |  | $ | (4 | ) |  | Acquisition and operating expenses(2)
Prior service (cost) credit |  | 2 |  |  | Acquisition and operating expenses(2)
|  | 1 |  |  | Tax (expense) or benefit(1)
|  | $ | (1 | ) |  | Net of tax
Total reclassifications for the period |  | $ | (22 | ) |  | Net of tax
(1) Based on 35% tax rate (2) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 10 for additional details).
(In millions) | Three Months Ended September 30, 2015 |
Details about Accumulated Other Comprehensive Income Components | Amount Reclassified from Accumulated Other Comprehensive Income | Affected Line Item in the Statements of Earnings
Unrealized gains (losses) on available-for-sale securities |  | $ | (1 | ) |  | Sales and redemptions
|  | (137 | ) |  | Other-than-temporary impairment losses realized
|  | (138 | ) |  | Total before tax
|  | 48 |  |  | Tax (expense) or benefit(1)
|  | $ | (90 | ) |  | Net of tax
Amortization of defined benefit pension items: |  |  |  |
Actuarial gains (losses) |  | $ | (4 | ) |  | Acquisition and operating expenses(2)
Prior service (cost) credit |  | 4 |  |  | Acquisition and operating expenses(2)
|  | 0 |  |  | Tax (expense) or benefit(1)
|  | $ | 0 |  |  | Net of tax
Total reclassifications for the period |  | $ | (90 | ) |  | Net of tax
(1) Based on 35% tax rate (2) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 10 for additional details).
(In millions) | Nine Months Ended September 30, 2016 |
Details about Accumulated Other Comprehensive Income Components | Amount Reclassified from Accumulated Other Comprehensive Income | Affected Line Item in the Statements of Earnings
Unrealized gains (losses) on available-for-sale securities |  | $ | 102 |  |  | Sales and redemptions
|  | (69 | ) |  | Other-than-temporary impairment losses realized
|  | 33 |  |  | Total before tax
|  | (12 | ) |  | Tax (expense) or benefit(1)
|  | $ | 21 |  |  | Net of tax
Amortization of defined benefit pension items: |  |  |  |
Actuarial gains (losses) |  | $ | (12 | ) |  | Acquisition and operating expenses(2)
Prior service (cost) credit |  | 8 |  |  | Acquisition and operating expenses(2)
|  | 1 |  |  | Tax (expense) or benefit(1)
|  | $ | (3 | ) |  | Net of tax
Total reclassifications for the period |  | $ | 18 |  |  | Net of tax
(1) Based on 35% tax rate (2) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 10 for additional details).
(In millions) | Nine Months Ended September 30, 2015 |
Details about Accumulated Other Comprehensive Income Components | Amount Reclassified from Accumulated Other Comprehensive Income | Affected Line Item in the Statements of Earnings
Unrealized gains (losses) on available-for-sale securities |  | $ | 123 |  |  | Sales and redemptions
|  | (143 | ) |  | Other-than-temporary impairment losses realized
|  | (20 | ) |  | Total before tax
|  | 7 |  |  | Tax (expense) or benefit(1)
|  | $ | (13 | ) |  | Net of tax
Amortization of defined benefit pension items: |  |  |  |
Actuarial gains (losses) |  | $ | (13 | ) |  | Acquisition and operating expenses(2)
Prior service (cost) credit |  | 12 |  |  | Acquisition and operating expenses(2)
|  | 0 |  |  | Tax (expense) or benefit(1)
|  | $ | (1 | ) |  | Net of tax
Total reclassifications for the period |  | $ | (14 | ) |  | Net of tax
(1) Based on 35% tax rate (2) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 10 for additional details).

X
- References No definition available. + Details
Name: | us-gaap_StockholdersEquityNoteAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB Topic 4.E) -URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74567-122707 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(31)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB Topic 4.C) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(30)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(d)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Preferred Stock -URI http://asc.fasb.org/extlink&oid=6521494 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644 Reference 16: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration