Aflac Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	5,443	4,659	4,418	4,231
Depreciation & Amortization	40	39	45	45
Other Amortization	851	816	792	835
Gain (Loss) on Sale of Investments	-1,271	-590	-363	-468
Change in Accounts Receivable	51	-133	5	72
Change in Income Taxes	-393	-967	-509	96
Change in Insurance Reserves / Liabilities	-302	-552	726	774
Other Operating Activities	-1,712	-82	-1,235	-534
Operating Cash Flow	2,707	3,190	3,879	5,051
Operating Cash Flow Growth	-15.14%	-17.76%	-23.20%	-15.22%
Investment in Securities	1,065	643	789	-2,946
Other Investing Activities	657	-471	-622	1,751
Investing Cash Flow	2,781	817	-1,540	-2,378
Long-Term Debt Issued	823	204	1,277	1,153
Total Debt Repaid	-194	-	-1,416	-700
Net Debt Issued (Repaid)	629	204	-139	453
Issuance of Common Stock	14	17	17	26
Repurchases of Common Stock	-2,800	-2,801	-2,401	-2,301
Common Dividends Paid	-1,087	-966	-979	-855
Other Financing Activities	-28	-17	34	-26
Financing Cash Flow	-3,486	-3,723	-3,551	-2,739
Foreign Exchange Rate Adjustments	-79	79	104	-24
Net Cash Flow	1,923	363	-1,108	-90
Cash Interest Paid	180	185	211	213
Cash Income Tax Paid	1,367	1,569	961	880
Levered Free Cash Flow	4,853	4,311	-4,953	2,644
Unlevered Free Cash Flow	4,976	4,433	-4,812	2,793
Change in Working Capital	-644	-1,652	222	942

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