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SHARE-BASED COMPENSATION (Tables) | 12 Months Ended
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Dec. 31, 2019
Share-based Payment Arrangement [Abstract] |
Schedule of Expense Recognized in Connection with Share Based Awards | The following table presents the impact of the expense recognized in connection with share-based awards for the periods ended December 31.
(In millions, except for per-share amounts) | 2019 |  | 2018 |  | 2017
Impact on earnings from continuing operations |  | $ | 59 |  |  |  |  | $ | 57 |  |  |  |  | $ | 51 |  |
Impact on earnings before income taxes |  | 59 |  |  |  |  | 57 |  |  |  |  | 51 |  |
Impact on net earnings |  | 46 |  |  |  |  | 45 |  |  |  |  | 35 |  |
Impact on net earnings per share: |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | .06 |  |  |  |  | $ | .06 |  |  |  |  | $ | .05 |  |
Diluted |  | .06 |  |  |  |  | .06 |  |  |  |  | .05 |  |
Schedule of Share-based Compensation, Stock Options, Activity | The following table summarizes stock option activity under the employee stock option plan.
(In thousands of shares) | Stock Option Shares |  | Weighted-Average Exercise Price Per Share
Outstanding at December 31, 2016 |  | 12,680 |  |  |  |  | $ | 26.28 |  |
Granted in 2017 |  | 626 |  |  |  |  | 35.80 |  |
Canceled in 2017 |  | (236 | ) |  |  |  | 24.95 |  |
Exercised in 2017 |  | (5,766 | ) |  |  |  | 30.11 |  |
Outstanding at December 31, 2017 |  | 7,304 |  |  |  |  | 28.03 |  |
Granted in 2018 |  | 67 |  |  |  |  | 44.59 |  |
Canceled in 2018 |  | (167 | ) |  |  |  | 32.11 |  |
Exercised in 2018 |  | (1,874 | ) |  |  |  | 26.78 |  |
Outstanding at December 31, 2018 |  | 5,330 |  |  |  |  | 28.54 |  |
Granted in 2019 |  | 0 |  |  |  |  | 0.00 |  |
Canceled in 2019 |  | (40 | ) |  |  |  | 27.82 |  |
Exercised in 2019 |  | (1,584 | ) |  |  |  | 25.97 |  |
Outstanding at December 31, 2019 |  | 3,706 |  |  |  |  | $ | 29.65 |  |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable |
(In thousands of shares) | 2019 |  | 2018 |  | 2017
Shares exercisable, end of year |  | 3,553 |  |  |  |  | 3,917 |  |  |  |  | 4,208 |  |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The following table presents the assumptions used in valuing options granted during the years ended December 31.
| 2019 |  | 2018 |  | 2017
Expected term (years) |  | 7.0 |  |  |  | 7.0 |  |  |  | 5.9 |
Expected volatility |  | 18.0 | % |  |  | 22.0 | % |  |  | 26.0 | %
Annual forfeiture rate |  | 3.9 |  |  |  | 3.6 |  |  |  | 3.4 |
Risk-free interest rate |  | 2.9 |  |  |  | 2.5 |  |  |  | 2.5 |
Dividend yield |  | 2.2 |  |  |  | 2.4 |  |  |  | 2.5 |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range | The following table summarizes information about stock options outstanding and exercisable at December 31, 2019.
(In thousands of shares) |  |  | Options Outstanding |  | Options Exercisable
| Range of Exercise Prices Per Share |  |  | Stock Option Shares Outstanding |  | Wgtd.-Avg. Remaining Contractual Life (Yrs.) |  | Wgtd.-Avg. Exercise Price Per Share |  | Stock Option Shares Exercisable |  | Wgtd.-Avg. Exercise Price Per Share
| $ | 16.92 |  | - | $ | 24.75 |  |  |  |  | 872 |  |  |  |  | 2.1 |  |  |  | $ | 23.58 |  |  |  |  | 872 |  |  |  |  | $ | 23.58 |  |
| 24.79 |  | - | 28.97 |  |  |  |  | 919 |  |  |  |  | 3.8 |  |  |  | 28.49 |  |  |  |  | 919 |  |  |  |  | 28.49 |  |
| 29.04 |  | - | 31.21 |  |  |  |  | 988 |  |  |  |  | 4.7 |  |  |  | 30.77 |  |  |  |  | 988 |  |  |  |  | 30.77 |  |
| 31.22 |  | - | 36.21 |  |  |  |  | 778 |  |  |  |  | 6.5 |  |  |  | 34.31 |  |  |  |  | 626 |  |  |  |  | 34.02 |  |
| 37.22 |  | - | 44.59 |  |  |  |  | 149 |  |  |  |  | 7.8 |  |  |  | 40.57 |  |  |  |  | 148 |  |  |  |  | 40.59 |  |
| $ | 16.92 |  | - | $ | 44.59 |  |  |  |  | 3,706 |  |  |  |  | 4.4 |  |  |  | $ | 29.65 |  |  |  |  | 3,553 |  |  |  |  | $ | 29.40 |  |
Schedule of Cash Proceeds Received from Share-based Payment Awards | The following table summarizes stock option activity during the years ended December 31.
(In millions) | 2019 |  | 2018 |  | 2017
Total intrinsic value of options exercised |  | $ | 38 |  |  |  |  | $ | 34 |  |  |  |  | $ | 87 |  |
Cash received from options exercised |  | 40 |  |  |  |  | 48 |  |  |  |  | 58 |  |
Tax benefit realized as a result of options exercised and restricted stock releases |  | 34 |  |  |  |  | 25 |  |  |  |  | 74 |  |
Schedule of Share-based Payment Award, Performance Based Restricted Stock, Valuation Assumptions | Key assumptions used to value PBRS granted during 2019 follows:
(In millions) | 2019 |
Expected volatility (based on Aflac Inc. and peer group historical daily stock price) |  | 15.82 | % |  |
Expected life from grant date (years) |  | 2.9 |  |  |
Risk-free interest rate (based on U.S. Treasury yields at the date of grant) |  | 2.51 | % |  |
Schedule of Nonvested Restricted Stock Units Activity | The value of restricted stock awards and restricted stock units is based on the fair market value of the Company's common stock at the date of grant. The following table summarizes restricted stock activity during the years ended December 31.
(In thousands of shares) | Shares |  | Weighted-Average Grant-Date Fair Value Per Share
Restricted stock at December 31, 2016 |  | 3,736 |  |  |  |  | $ | 30.88 |  |
Granted in 2017 |  | 1,118 |  |  |  |  | 36.48 |  |
Canceled in 2017 |  | (202 | ) |  |  |  | 32.23 |  |
Vested in 2017 |  | (1,018 | ) |  |  |  | 31.09 |  |
Restricted stock at December 31, 2017 |  | 3,634 |  |  |  |  | 32.40 |  |
Granted in 2018 |  | 1,121 |  |  |  |  | 44.27 |  |
Canceled in 2018 |  | (105 | ) |  |  |  | 34.39 |  |
Vested in 2018 |  | (1,243 | ) |  |  |  | 31.64 |  |
Restricted stock at December 31, 2018 |  | 3,407 |  |  |  |  | 36.52 |  |
Granted in 2019 |  | 1,070 |  |  |  |  | 49.68 |  |
Canceled in 2019 |  | (39 | ) |  |  |  | 41.60 |  |
Vested in 2019 |  | (1,865 | ) |  |  |  | 32.73 |  |
Restricted stock at December 31, 2019 |  | 2,573 |  |  |  |  | $ | 44.66 |  |

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