XML 84 R73.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

FAIR VALUE MEASUREMENTS - Fair Value Measurement Inputs and Valuation Techniques (Details) $ in Millions | Mar. 31, 2024 USD ($) | Dec. 31, 2023 USD ($)
--- | --- | ---
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | $ 70,130 | $ 73,290
Equity securities |  | 762 | 1,088
Total assets |  | 79,652 | 80,325
Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | 1,918 | 1,781
Equity securities |  | 159 | 248
Total assets |  | 2,077 | 2,029
Adjusted cost valuation technique | Level 3 | Private Financials |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Equity securities |  | 159 | 248
Municipalities |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | 2,210 | 2,298
Municipalities | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | 0 | 0
Mortgage- and asset-backed securities |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | 3,385 | 3,086
Mortgage- and asset-backed securities | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | 859 | 772
Mortgage- and asset-backed securities | Consensus pricing valuation technique | Level 3 | Offered Quotes |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | $ 859 | $ 772
Mortgage- and asset-backed securities | Consensus pricing valuation technique | Level 3 | Lower Limit | Offered Quotes |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale, measurement input | [1] | 85.28 | 84.81
Mortgage- and asset-backed securities | Consensus pricing valuation technique | Level 3 | Upper Limit | Offered Quotes |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale, measurement input | [1] | 105.35 | 105.89
Mortgage- and asset-backed securities | Consensus pricing valuation technique | Level 3 | Weighted Average | Offered Quotes |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale, measurement input | [1] | 99.24 | 99.39
Public utilities |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | $ 7,313 | $ 7,592
Public utilities | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | 507 | 253
Public utilities | Consensus pricing valuation technique | Level 3 | Offered Quotes |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  |  | $ 253
Public utilities | Consensus pricing valuation technique | Level 3 | Lower Limit | Offered Quotes |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale, measurement input | [1] |  | 94.34
Public utilities | Consensus pricing valuation technique | Level 3 | Upper Limit | Offered Quotes |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale, measurement input | [1] |  | 102.99
Public utilities | Consensus pricing valuation technique | Level 3 | Weighted Average | Offered Quotes |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale, measurement input | [1] |  | 96.46
Public utilities | Discounted cash flow technique | Level 3 | Credit Spreads |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | $ 507 |
Public utilities | Discounted cash flow technique | Level 3 | Lower Limit | Credit Spreads |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale, measurement input | [2] | 0.0175 |
Public utilities | Discounted cash flow technique | Level 3 | Upper Limit | Credit Spreads |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale, measurement input | [2] | 0.0225 |
Public utilities | Discounted cash flow technique | Level 3 | Weighted Average | Credit Spreads |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale, measurement input | [2] | 0.0208 |
Sovereign and supranational |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | $ 490 | $ 537
Sovereign and supranational | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | 28 | 30
Sovereign and supranational | Consensus pricing valuation technique | Level 3 | Offered Quotes |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | 28 | 30
Banks/financial institutions |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | 8,899 | 8,835
Banks/financial institutions | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | 74 | 78
Banks/financial institutions | Discounted cash flow technique | Level 3 | Credit Spreads |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | 74 | 78
Other corporate |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | 27,019 | 28,342
Other corporate | Level 3 |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | 450 | 648
Other corporate | Discounted cash flow technique | Level 3 | Credit Spreads |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale |  | $ 450 | $ 648
Other corporate | Discounted cash flow technique | Level 3 | Lower Limit | Credit Spreads |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale, measurement input | [2] | 0.0069 | 0.0069
Other corporate | Discounted cash flow technique | Level 3 | Upper Limit | Credit Spreads |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale, measurement input | [2] | 0.0388 | 0.0423
Other corporate | Discounted cash flow technique | Level 3 | Weighted Average | Credit Spreads |  |  |
Fair Value Measurement Inputs and Valuation Techniques |  |  |
Fixed maturity securities, available-for-sale, measurement input | [2] | 0.0183 | 0.0206
[1] | Represents prices for securities where the Company receives unadjusted broker quotes and for which there is no transparency into the providers' valuation techniques.
[2] | Actual or equivalent credit spreads in basis points.

X
- Definition Fair value portion of probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_AssetsFairValueDisclosure
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (aa) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481830/320-10-45-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(6)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 326 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479130/326-30-45-1 + Details
Name: | us-gaap_AvailableForSaleSecuritiesDebtSecurities
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Value of input used to measure investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleMeasurementInput
Namespace Prefix: | us-gaap_
Data Type: | xbrli:decimalItemType
Balance Type: | na
Period Type: | instant

X
- Definition Amount of investment in equity security measured at fair value with change in fair value recognized in net income (FV-NI). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(1)(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482736/825-10-45-1A + Details
Name: | us-gaap_EquitySecuritiesFvNiCurrentAndNoncurrent
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_ValuationTechniqueAxis=us-gaap_CostApproachValuationTechniqueMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_MeasurementInputTypeAxis=afl_MeasurementInputPrivateFinancialsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=us-gaap_MunicipalBondsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=us-gaap_AssetBackedSecuritiesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_ValuationTechniqueAxis=us-gaap_ValuationTechniqueConsensusPricingModelMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_MeasurementInputTypeAxis=us-gaap_MeasurementInputOfferedPriceMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RangeAxis=srt_MinimumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RangeAxis=srt_MaximumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RangeAxis=srt_WeightedAverageMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=us-gaap_PublicUtilityBondsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_ValuationTechniqueAxis=us-gaap_ValuationTechniqueDiscountedCashFlowMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_MeasurementInputTypeAxis=us-gaap_MeasurementInputCreditSpreadMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=us-gaap_SovereignDebtMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=afl_BanksAndFinancialInstitutionsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=us-gaap_CorporateDebtSecuritiesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |