$AFL
AFLAC INC

2014 Q2 Form 10-Q Financial Statement

#000000497714000095 Filed on August 05, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2013 Q2
Revenue $5.838B $6.044B
YoY Change -3.41% 2.41%
Cost Of Revenue $3.293B $3.411B
YoY Change -3.46% -9.35%
Gross Profit $2.545B $2.633B
YoY Change -3.34% 23.09%
Gross Profit Margin 43.59% 43.56%
Selling, General & Admin $537.0M $529.0M
YoY Change 1.51% -9.88%
% of Gross Profit 21.1% 20.09%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $276.0M $251.0M
YoY Change 9.96% -6.69%
% of Gross Profit 10.84% 9.53%
Operating Expenses $537.0M $529.0M
YoY Change 1.51% -9.88%
Operating Profit $1.157B $1.157B
YoY Change 0.0% -0.17%
Interest Expense $81.00M $69.00M
YoY Change 17.39% 11.29%
% of Operating Profit 7.0% 5.96%
Other Income/Expense, Net -$11.00M $0.00
YoY Change
Pretax Income $1.238B $1.358B
YoY Change -8.84% 83.27%
Income Tax $428.0M $469.0M
% Of Pretax Income 34.57% 34.54%
Net Earnings $810.0M $889.0M
YoY Change -8.89% 84.06%
Net Earnings / Revenue 13.87% 14.71%
Basic Earnings Per Share $1.79 $1.91
Diluted Earnings Per Share $1.78 $1.90
COMMON SHARES
Basic Shares Outstanding 452.6M shares 465.2M shares
Diluted Shares Outstanding 455.4M shares 468.0M shares

Balance Sheet

Concept 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $2.252B $2.388B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $482.0M $510.0M
YoY Change -5.49% -15.42%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $112.5B $101.5B
YoY Change 10.77% -5.21%
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $127.9B $116.3B
YoY Change 9.94% -4.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $7.889B $4.869B
YoY Change 62.03% 72.23%
LONG-TERM LIABILITIES
Long-Term Debt $4.925B $4.946B
YoY Change -0.42% 34.69%
Other Long-Term Liabilities $2.075B $2.176B
YoY Change -4.64% 2.74%
Total Long-Term Liabilities $7.000B $7.122B
YoY Change -1.71% 23.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.889B $4.869B
Total Long-Term Liabilities $7.000B $7.122B
Total Liabilities $110.3B $102.6B
YoY Change 7.5% -5.01%
SHAREHOLDERS EQUITY
Retained Earnings $21.09B $18.84B
YoY Change 11.93% 16.97%
Common Stock $1.765B $1.629B
YoY Change 8.35% 7.24%
Preferred Stock
YoY Change
Treasury Stock (at cost) $6.902B $5.934B
YoY Change 16.31% 5.61%
Treasury Stock Shares 214.8M shares
Shareholders Equity $17.56B $13.70B
YoY Change
Total Liabilities & Shareholders Equity $127.9B $116.3B
YoY Change 9.94% -4.82%

Cashflow Statement

Concept 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income $810.0M $889.0M
YoY Change -8.89% 84.06%
Depreciation, Depletion And Amortization $276.0M $251.0M
YoY Change 9.96% -6.69%
Cash From Operating Activities $1.517B $1.866B
YoY Change -18.7% -49.42%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$1.471B -$2.725B
YoY Change -46.02% -24.77%
Cash From Investing Activities -$1.471B -$2.725B
YoY Change -46.02% -24.77%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 233.0M 682.0M
YoY Change -65.84% -487.5%
NET CHANGE
Cash From Operating Activities 1.517B 1.866B
Cash From Investing Activities -1.471B -2.725B
Cash From Financing Activities 233.0M 682.0M
Net Change In Cash 279.0M -177.0M
YoY Change -257.63% 62.39%
FREE CASH FLOW
Cash From Operating Activities $1.517B $1.866B
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;padding-left:48px;text-indent:-48px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;text-decoration:underline;">Accounting Pronouncements Pending Adoption</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Receivables -Troubled debt restructurings by creditors:</font><font style="font-family:Arial;font-size:10pt;"> In January 2014, the FASB issued updated guidance for troubled debt restructurings clarifying when an in substance repossession or foreclosure occurs, and when a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan. The new guidance is effective for annual periods and interim periods within those annual periods, beginning after December 15, 2014. The adoption of this guidance will not have a significant impact on our financial position or results of operations.</font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures:</font><font style="font-family:Arial;font-size:10pt;"> In June 2014, the FASB issued updated guidance for repurchase agreement and security lending transactions to change the accounting for repurchase-to-maturity transactions and linked repurchase financings to be accounted for as secured borrowings, consistent with the accounting for other repurchase agreements. The amendments also require new disclosures to increase transparency about the types of collateral pledged in repurchase agreements and similar transactions accounted for as secured borrowings. The new guidance is effective for annual periods and interim periods within those annual periods, beginning after December 15, 2014. The adoption of this guidance will not have a significant impact on our financial position or results of operations.</font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"></font></div></div>
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us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Issues
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CY2014Q1 afl Held To Maturity Securities Transferred To Available For Sale Securities Number Of Investments
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CY2013Q4 afl Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
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CY2013Q4 afl Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
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CY2014Q2 afl Securities Loaned Collateral Obligation To Return Cash
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CY2013Q4 afl Securities Loaned Total
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CY2014Q2 afl Total Policy Liabilities
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dei Amendment Flag
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dei Current Fiscal Year End Date
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dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
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dei Document Fiscal Year Focus
DocumentFiscalYearFocus
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dei Document Period End Date
DocumentPeriodEndDate
2014-06-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
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CY2014Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
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dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
AFLAC INC
dei Trading Symbol
TradingSymbol
AFL
CY2013Q4 invest Derivative Notional Amount
DerivativeNotionalAmount
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CY2014Q2 invest Derivative Notional Amount
DerivativeNotionalAmount
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