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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2019
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) | The components of income tax expense (benefit) applicable to pretax earnings for the years ended December 31 were as follows:
(In millions) | Foreign |  | U.S. |  | Total
2019: |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 737 |  |  |  |  | $ | 69 |  |  |  |  | $ | 806 |  |
Deferred |  | 183 |  |  |  |  | 152 |  |  |  |  | 335 |  |
Total income tax expense |  | $ | 920 |  |  |  |  | $ | 221 |  |  |  |  | $ | 1,141 |  |
2018: |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 771 |  |  |  |  | $ | 608 |  |  |  |  | $ | 1,379 |  |
Deferred |  | 93 |  |  |  |  | (409 | ) |  |  |  | (316 | ) |
Total income tax expense |  | $ | 864 |  |  |  |  | $ | 199 |  |  |  |  | $ | 1,063 |  |
2017: |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 722 |  |  |  |  | $ | (91 | ) |  |  |  | $ | 631 |  |
Deferred |  | (24 | ) |  |  |  | (1,193 | ) |  |  |  | (1,217 | ) |
Total income tax expense |  | $ | 698 |  |  |  |  | $ | (1,284 | ) |  |  |  | $ | (586 | ) |
Schedule of Effective Income Tax Rate Reconciliation | The principal reasons for the differences and the related tax effects for the years ended December 31 were as follows:
(In millions) | 2019 |  | 2018 |  | 2017
Income taxes based on U.S. statutory rates |  | $ | 933 |  |  |  |  | $ | 836 |  |  |  |  | $ | 1,406 |  |
Foreign rate differential |  | 229 |  |  |  |  | 220 |  |  |  |  | 0 |  |
Write-down of U.S. deferred tax liabilities for tax reform change |  | 0 |  |  |  |  | 0 |  |  |  |  | (1,933 | ) |
Utilization of foreign tax credit |  | (6 | ) |  |  |  | (3 | ) |  |  |  | (27 | ) |
Nondeductible expenses |  | 10 |  |  |  |  | 21 |  |  |  |  | 10 |  |
Other, net |  | (25 | ) |  |  |  | (11 | ) |  |  |  | (42 | ) |
Income tax expense |  | $ | 1,141 |  |  |  |  | $ | 1,063 |  |  |  |  | $ | (586 | ) |
Schedule of Income Tax Expense Benefit Intraperiod Tax Allocation | Total income tax expense for the years ended December 31 was allocated as follows:
(In millions) | 2019 |  | 2018 |  | 2017
Statements of earnings |  | $ | 1,141 |  |  |  |  | $ | 1,063 |  |  |  |  | $ | (586 | ) |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |
Unrealized foreign currency translation gains (losses) during period |  | 27 |  |  |  |  | 10 |  |  |  |  | 52 |  |
Unrealized gains (losses) on investment securities: |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains (losses) on investment securities during period |  | 1,532 |  |  |  |  | (787 | ) |  |  |  | 575 |  |
Reclassification adjustment for realized (gains) losses on investment securities included in net earnings |  | 5 |  |  |  |  | (12 | ) |  |  |  | 1 |  |
Unrealized gains (losses) on derivatives during period |  | (3 | ) |  |  |  | 0 |  |  |  |  | 0 |  |
Pension liability adjustment during period |  | (18 | ) |  |  |  | (8 | ) |  |  |  | 3 |  |
Total income tax expense (benefit) related to items of other comprehensive income (loss) |  | 1,543 |  |  |  |  | (797 | ) |  |  |  | 631 |  |
Total income taxes |  | $ | 2,684 |  |  |  |  | $ | 266 |  |  |  |  | $ | 45 |  |
Schedule of Deferred Tax Assets and Liabilities | The income tax effects of the temporary differences that gave rise to deferred income tax assets and liabilities as of December 31 were as follows:
(In millions) | 2019 |  | 2018
Deferred income tax liabilities: |  |  |  |  |  |  |
Deferred policy acquisition costs |  | $ | 3,492 |  |  |  |  | $ | 3,404 |  |
Unrealized gains and other basis differences on investments |  | 4,485 |  |  |  |  | 1,307 |  |
Premiums receivable |  | 152 |  |  |  |  | 149 |  |
Policy benefit reserves |  | 3,442 |  |  |  |  | 3,828 |  |
Total deferred income tax liabilities |  | 11,571 |  |  |  |  | 8,688 |  |
Deferred income tax assets: |  |  |  |  |  |  |
Unfunded retirement benefits |  | 8 |  |  |  |  | 8 |  |
Other accrued expenses |  | 36 |  |  |  |  | 40 |  |
Policy and contract claims |  | 781 |  |  |  |  | 775 |  |
Foreign currency loss on Aflac Japan |  | 16 |  |  |  |  | 38 |  |
Deferred compensation |  | 162 |  |  |  |  | 163 |  |
Capital loss carryforwards |  | 34 |  |  |  |  | 5 |  |
Depreciation |  | 164 |  |  |  |  | 119 |  |
Anticipatory foreign tax credit |  | 5,487 |  |  |  |  | 4,040 |  |
Deferred foreign tax credit |  | 605 |  |  |  |  | 591 |  |
Other |  | 204 |  |  |  |  | 150 |  |
Total deferred income tax assets before valuation allowance |  | 7,497 |  |  |  |  | 5,929 |  |
Valuation allowance |  | (1,340 | ) |  |  |  | (738 | ) |
Total deferred income tax assets after valuation allowance |  | 6,157 |  |  |  |  | 5,191 |  |
Net deferred income tax liability |  | 5,414 |  |  |  |  | 3,497 |  |
Current income tax (asset) liability |  | (44 | ) |  |  |  | 523 |  |
Total income tax liability |  | $ | 5,370 |  |  |  |  | $ | 4,020 |  |
Summary of Income Tax Contingencies | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows for the years ended December 31:
(In millions) |  | 2019 |  |  | 2018 |
Balance, beginning of year |  | $ | 15 |  |  |  | $ | 14 |  |
Additions for tax positions of prior years |  | 2 |  |  |  | 1 |  |
Balance, end of year |  | $ | 17 |  |  |  | $ | 15 |  |

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