Aflac Inc. Files 10-Q for Period Ending March 31, 2024
Ticker: AFL · Form: 10-Q · Filed: May 2, 2024 · CIK: 4977
Sentiment: neutral
Topics: Aflac Inc., 10-Q, Quarterly Report, Financials, Insurance
TL;DR
<b>Aflac Inc. has filed its Q1 2024 10-Q report, detailing financial performance and operations for the quarter ending March 31, 2024.</b>
AI Summary
AFLAC INC (AFL) filed a Quarterly Report (10-Q) with the SEC on May 2, 2024. Aflac Inc. filed its quarterly report (10-Q) for the period ending March 31, 2024. The filing covers the period from January 1, 2024, to March 31, 2024. The company's fiscal year ends on December 31. Aflac Inc. is incorporated in Georgia (GA). The Standard Industrial Classification code for Aflac Inc. is 6321 (Accident & Health Insurance).
Why It Matters
For investors and stakeholders tracking AFLAC INC, this filing contains several important signals. This 10-Q filing provides investors and analysts with the latest financial data and operational updates for Aflac Inc., crucial for assessing the company's current performance and future outlook. Understanding the details within this report is essential for making informed investment decisions regarding Aflac Inc. stock.
Risk Assessment
Risk Level: low — AFLAC INC shows low risk based on this filing. The filing is a standard quarterly report and does not contain immediate red flags, indicating a routine disclosure of financial information.
Analyst Insight
Monitor Aflac's upcoming earnings calls and subsequent filings for detailed financial performance analysis and management commentary.
Key Numbers
- 2024-03-31 — Report Period End Date (CONFORMED PERIOD OF REPORT)
- 2024-05-02 — Filing Date (FILED AS OF DATE)
- 2024-01-01 — Quarter Start Date (2024-01-01)
- 2024-03-31 — Quarter End Date (2024-03-31)
- 2023-01-01 — Prior Year Quarter Start Date (2023-01-01)
- 2023-03-31 — Prior Year Quarter End Date (2023-03-31)
Key Players & Entities
- AFLAC INC (company) — FILER
- 0000004977 (company) — CENTRAL INDEX KEY
- GA (company) — STATE OF INCORPORATION
- 1932 WYNNTON RD (company) — BUSINESS ADDRESS STREET 1
- COLUMBUS (company) — BUSINESS ADDRESS CITY
- 31999 (company) — BUSINESS ADDRESS ZIP
- 7063233431 (company) — BUSINESS PHONE
- AMERICAN FAMILY CORP (company) — FORMER COMPANY
FAQ
When did AFLAC INC file this 10-Q?
AFLAC INC filed this Quarterly Report (10-Q) with the SEC on May 2, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by AFLAC INC (AFL).
Where can I read the original 10-Q filing from AFLAC INC?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by AFLAC INC.
What are the key takeaways from AFLAC INC's 10-Q?
AFLAC INC filed this 10-Q on May 2, 2024. Key takeaways: Aflac Inc. filed its quarterly report (10-Q) for the period ending March 31, 2024.. The filing covers the period from January 1, 2024, to March 31, 2024.. The company's fiscal year ends on December 31..
Is AFLAC INC a risky investment based on this filing?
Based on this 10-Q, AFLAC INC presents a relatively low-risk profile. The filing is a standard quarterly report and does not contain immediate red flags, indicating a routine disclosure of financial information.
What should investors do after reading AFLAC INC's 10-Q?
Monitor Aflac's upcoming earnings calls and subsequent filings for detailed financial performance analysis and management commentary. The overall sentiment from this filing is neutral.
Key Dates
- 2024-03-31: Quarter End — End of the reporting period for the 10-Q filing.
- 2024-05-02: Filing Date — Date the 10-Q report was officially filed with the SEC.
Filing Stats: 4,597 words · 18 min read · ~15 pages · Grade level 15.9 · Accepted 2024-05-02 11:24:13
Filing Documents
- afl-20240331.htm (10-Q) — 5708KB
- afl33124ex311.htm (EX-31.1) — 11KB
- afl33124ex312.htm (EX-31.2) — 11KB
- afl33124ex32.htm (EX-32) — 9KB
- afl-20240331_g1.jpg (GRAPHIC) — 17KB
- 0000004977-24-000086.txt ( ) — 30659KB
- afl-20240331.xsd (EX-101.SCH) — 110KB
- afl-20240331_cal.xml (EX-101.CAL) — 104KB
- afl-20240331_def.xml (EX-101.DEF) — 967KB
- afl-20240331_lab.xml (EX-101.LAB) — 1327KB
- afl-20240331_pre.xml (EX-101.PRE) — 1159KB
- afl-20240331_htm.xml (XML) — 8340KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION: Page
Financial Statements (Unaudited)
Item 1. Financial Statements (Unaudited) Consolidated Statements of Earnings Three Months Ended March 31, 2024 and 2023 1 Consolidated Statements of Comprehensive Income (Loss) Three Months Ended March 31, 2024 and 2023 2 Consolidated Balance Sheets March 31, 2024, and December 31, 2023 3 Consolidated Statements of Shareholders' Equity Three Months Ended March 31, 2024 and 2023 4 Consolidated Statements of Cash Flows Three Months Ended March 31, 2024 and 2023 5 Notes to the Consolidated Financial Statements 6
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 70
Quantitative and Qualitative Disclosures about Market Risk
Item 3. Quantitative and Qualitative Disclosures about Market Risk 104
Controls and Procedures
Item 4. Controls and Procedures 104
OTHER INFORMATION
PART II. OTHER INFORMATION:
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 105
Other Information
Item 5. Other Information 105
Exhibits
Item 6. Exhibits 106 Glossary of Selected Terms 107 Items other than those listed above are omitted because they are not required or are not applicable.
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements. Aflac Incorporated and Subsidiaries Consolidated Statements of Earnings Three Months Ended March 31, (In millions, except for share and per-share amounts - Unaudited) 2024 2023 Revenues: Net earned premiums, principally supplemental health insurance $ 3,456 $ 3,688 Net investment income 1,000 943 Net investment gains (losses) 951 123 Other income (loss) 29 46 Total revenues 5,436 4,800 Benefits and expenses: Benefits and claims, excluding reserve remeasurement 2,066 2,203 Reserve remeasurement (gains) losses ( 56 ) ( 53 ) Total benefits and claims, net 2,010 2,150 Acquisition and operating expenses: Amortization of deferred policy acquisition costs 215 205 Insurance commissions 255 280 Insurance and other expenses 739 775 Interest expense 47 48 Total acquisition and operating expenses 1,256 1,308 Total benefits and expenses 3,266 3,458 Earnings before income taxes 2,170 1,342 Income taxes 291 154 Net earnings $ 1,879 $ 1,188 Net earnings per share: Basic $ 3.27 $ 1.94 Diluted 3.25 1.94 Weighted-average outstanding common shares used in computing earnings per share (In thousands): Basic 574,886 611,205 Diluted 577,482 613,950 Cash dividends per share $ .50 $ .42 See the accompanying Notes to the Consolidated Financial Statements. 1 Aflac Incorporated and Subsidiaries Consolidated Statements of Comprehensive Income (Loss) Three Months Ended March 31, (In millions - Unaudited) 2024 2023 Net earnings $ 1,879 $ 1,188 Other comprehensive income (loss) before income taxes: Unrealized foreign currency translation gains (losses) during period ( 501 ) ( 43 ) Unrealized gains (losses) on fixed maturity securities: Unrealized holding gains (losses) on fixed maturity securities during period 103 2,578 Reclassification adjustment for (gains) losses on fixed maturity securities included in net earnings ( 168 ) ( 57 ) Unrealized gains (losses) on derivatives during period ( 5 ) 1 Effect of changes