Aflac Incorporated
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $17.16B | $18.93B | $18.70B | $19.50B | $22.11B | $22.15B | $22.31B | $21.76B |
| Net Earned Premiums | $13.55B | $13.44B | $14.12B | $15.26B | $17.65B | $18.62B | $18.78B | $18.68B |
| Net Investment Income | $4.08B | $4.12B | $3.81B | $3.66B | $3.82B | $3.64B | $3.58B | $3.44B |
| Net Investment Gains (Losses) | $-572.0M | $1.27B | $590.0M | $363.0M | $468.0M | $-270.0M | $-135.0M | $-430.0M |
| Other Income | $112.0M | $100.0M | $177.0M | $220.0M | $173.0M | $157.0M | $84.0M | $69.0M |
| Cost of Revenue | — | — | — | — | — | — | — | — |
| Gross Profit | — | — | — | — | — | — | — | — |
| Gross Margin | — | — | — | — | — | — | — | — |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $3.25B | $3.01B | $3.17B | $3.25B | $3.54B | $3.42B | $3.09B | $2.99B |
| Operating Income | $4.75B | $6.61B | $5.46B | $4.16B | $4.93B | $4.42B | $4.46B | $4.35B |
| Operating Margin | 27.7% | 34.9% | 29.2% | 21.3% | 22.3% | 19.9% | 20.0% | 20.0% |
| Interest Expense | $217.0M | $194.0M | $195.0M | $226.0M | $238.0M | $242.0M | $228.0M | $222.0M |
| Pretax Income | $4.53B | $6.42B | $5.26B | $4.87B | $5.21B | $4.16B | $4.45B | $3.98B |
| Income Tax Expense | $887.0M | $974.0M | $603.0M | $451.0M | $977.0M | $-619.0M | $1.14B | $1.06B |
| Net Income | $3.65B | $5.44B | $4.66B | $4.42B | $4.23B | $4.78B | $3.30B | $2.92B |
| Net Margin | 21.2% | 28.8% | 24.9% | 22.7% | 19.1% | 21.6% | 14.8% | 13.4% |
| EPS (Basic) | $6.84 | $9.68 | $7.81 | $6.96 | $6.28 | $6.69 | $4.45 | $3.79 |
| EPS (Diluted) | $6.82 | $9.63 | $7.78 | $6.93 | $6.25 | $6.67 | $4.43 | $3.77 |
| Shares Outstanding (Basic) | 532.9M | 562.5M | 596.2M | 634.8M | 673.6M | 713.7M | 742.4M | 769.6M |
| Shares Outstanding (Diluted) | 534.9M | 565.0M | 598.7M | 637.7M | 676.7M | 716.2M | 746.4M | 774.7M |
| Dividends Per Share | $2.35 | $2.08 | $1.76 | $1.62 | $1.32 | $1.12 | $1.08 | — |