Aflac Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Premiums & Annuity Revenue	13,554	13,440	14,123	14,901	17,095	18,622
Total Interest & Dividend Income	4,119	4,116	3,811	3,656	3,818	3,638
Gain (Loss) on Sale of Investments	-77	1,271	590	363	468	-270
Other Revenue	105	100	177	220	173	157
Total Revenue	17,701	18,927	18,701	19,140	21,554	22,147
Revenue Growth (YoY)	2.31%	1.21%	-2.29%	-11.20%	-2.68%	-0.72%
Policy Benefits	7,314	7,450	8,211	8,887	10,476	11,796
Policy Acquisition & Underwriting Costs	1,860	1,849	1,868	1,909	2,091	2,530
Selling, General & Administrative	3,222	3,014	3,165	3,249	3,541	3,420
Total Operating Expenses	12,396	12,313	13,244	14,045	16,108	17,746
Operating Income	5,305	6,614	5,457	5,095	5,446	4,401
Interest Expense	-209	-197	-195	-226	-238	-242
Pretax Income	5,096	6,417	5,262	4,869	5,208	4,159
Income Tax Expense	927	974	603	451	977	-619
Net Income	4,169	5,443	4,659	4,418	4,231	4,778
Net Income to Common	4,169	5,443	4,659	4,418	4,231	4,778
Net Income Growth	9.45%	16.83%	5.46%	4.42%	-11.45%	44.61%
Shares Outstanding (Basic)	541	562	596	635	674	714
Shares Outstanding (Diluted)	543	565	599	638	677	716
Shares Change (YoY)	-5.10%	-5.63%	-6.10%	-5.77%	-5.51%	-4.05%
EPS (Basic)	7.71	9.68	7.81	6.96	6.28	6.69
EPS (Diluted)	7.68	9.63	7.78	6.93	6.25	6.67
EPS Growth	15.49%	23.78%	12.27%	10.88%	-6.30%	50.56%
Dividend Per Share	2.240	2.000	1.680	1.600	1.320	1.120
Dividend Growth	16.67%	19.05%	5.00%	21.21%	17.86%	3.70%
Operating Margin	29.97%	34.95%	29.18%	26.62%	25.27%	19.87%
Profit Margin	23.55%	28.76%	24.91%	23.08%	19.63%	21.57%
EBITDA	5,358	6,654	5,496	5,140	5,491	4,442
EBITDA Margin	30.27%	35.16%	29.39%	26.86%	25.48%	20.06%
D&A For EBITDA	53	40	39	45	45	41
EBIT	5,305	6,614	5,457	5,095	5,446	4,401
EBIT Margin	29.97%	34.95%	29.18%	26.62%	25.27%	19.87%
Effective Tax Rate	18.19%	15.18%	11.46%	9.26%	18.76%	-
Revenue as Reported	17,701	18,927	18,701	19,140	21,554	22,147

Source: S&P Global Market Intelligence. Insurance template. Financial Sources.