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DEFERRED POLICY ACQUISITION COSTS | 3 Months Ended
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Mar. 31, 2023
Insurance [Abstract] |
DEFERRED POLICY ACQUISITION COSTS | DEFERRED POLICY ACQUISITION COSTSThe following tables present a rollforward of deferred policy acquisition costs by reporting segment and disaggregated by product type.
| March 31, 2023
| Aflac Japan |  | Aflac U.S. |  |  |  |
(In millions) | Cancer | Medical and Other Health | Life Insurance | Other |  | Accident | Disability | Critical Care | Hospital Indemnity | Dental/Vision | Life Insurance | Other |  |  |  | Total
Deferred policy acquisition costs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at December 31, 2022 | $ | 3,035 |  | $ | 2,161 |  | $ | 525 |  | $ | 55 |  |  | $ | 904 |  | $ | 613 |  | $ | 1,304 |  | $ | 418 |  | $ | 88 |  | $ | 135 |  | $ | 1 |  |  |  |  | $ | 9,239 |
Capitalization | 76 |  | 33 |  | 9 |  | 4 |  |  | 39 |  | 31 |  | 41 |  | 21 |  | 2 |  | 14 |  | 0 |  |  |  |  | 270 |
Amortization expense | (48) |  | (28) |  | (9) |  | 0 |  |  | (34) |  | (28) |  | (34) |  | (16) |  | (3) |  | (6) |  | 1 |  |  |  |  | (205) |
Foreign currency translation and other | (19) |  | (13) |  | (3) |  | (1) |  |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | (1) |  |  |  |  | (37) |
Balance at March 31, 2023 | $ | 3,044 |  | $ | 2,153 |  | $ | 522 |  | $ | 58 |  |  | $ | 909 |  | $ | 616 |  | $ | 1,311 |  | $ | 423 |  | $ | 87 |  | $ | 143 |  | $ | 1 |  |  |  |  | $ | 9,267 |
| December 31, 2022
| Aflac Japan |  | Aflac U.S. |  |  |  |
(In millions) | Cancer | Medical and Other Health | Life Insurance | Other |  | Accident | Disability | Critical Care | Hospital Indemnity | Dental/Vision | Life Insurance | Other |  |  |  | Total
Deferred policy acquisition costs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at December 31, 2021 | $ | 3,464 |  | $ | 2,372 |  | $ | 595 |  | $ | 51 |  |  | $ | 887 |  | $ | 604 |  | $ | 1,270 |  | $ | 399 |  | $ | 90 |  | $ | 115 |  | $ | 1 |  |  |  |  | $ | 9,848 |
Capitalization | 291 |  | 161 |  | 33 |  | 12 |  |  | 147 |  | 117 |  | 160 |  | 80 |  | 11 |  | 40 |  | 0 |  |  |  |  | 1,052 |
Amortization expense | (188) |  | (112) |  | (35) |  | (3) |  |  | (130) |  | (108) |  | (126) |  | (61) |  | (13) |  | (20) |  | 4 |  |  |  |  | (792) |
Foreign currency translation and other | (532) |  | (260) |  | (68) |  | (5) |  |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | (4) |  |  |  |  | (869) |
Balance at December 31, 2022 | $ | 3,035 |  | $ | 2,161 |  | $ | 525 |  | $ | 55 |  |  | $ | 904 |  | $ | 613 |  | $ | 1,304 |  | $ | 418 |  | $ | 88 |  | $ | 135 |  | $ | 1 |  |  |  |  | $ | 9,239 |
The Company uses the following constant level bases to amortize deferred policy acquisition costs:
Policy Type |  | Constant-level Basis
Life Products (U.S.) |  | Face Value
Health Products (U.S.) |  | Policy Count
Health & Life Products (Japan) |  | Units in Force
Face value is the stated dollar amount that the policy’s beneficiaries receive upon the death of the insured. For life and health products issued in Japan, the constant-level basis used is units in force, which is a proxy for face amount and insurance in force, respectively. Future DAC amortization is impacted by persistency. There were no changes to the inputs, judgements, assumptions and methods used to determine amortization amounts during the three-month periods ended March 31, 2023 and 2022. See Note 1 of the Notes to the Consolidated Financial Statements for more information on deferred policy acquisition costs.

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- Definition The entire disclosure for cost related directly to successful acquisition of new and renewal of insurance contract. Includes, but is not limited to, deferred policy acquisition cost, deferred sale inducement cost, and present value of future profit of insurance contract acquired in business combination. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 30 -URI https://asc.fasb.org/subtopic&trid=4737841 + Details
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