Aflac said total revenues for 2023 fell 2.3% from the prior year to $18.7 billion, from $19.1 billion, and net earnings were $4.7 billion, or $7.78 per diluted share, compared with $4.4 billion, or $6.93 per diluted share, in 2022.

1. 01

   Aflac said total revenues for 2023 fell 2.3% from the prior year to $18.7 billion, from $19.1 billion, and net earnings were $4.7 billion, or $7.78 per diluted share, compared with $4.4 billion, or $6.93 per diluted share, in 2022.

2. 02

   The company said adjusted earnings for 2023 were $3.7 billion, or $6.23 per diluted share, compared with $3.6 billion, or $5.67, in 2022. It said the weaker yen/dollar exchange rate reduced adjusted earnings per diluted share by $.19.

3. 03

   Aflac said net earnings for 2023 included an after-tax loss of $119 million, or $.20 per diluted share, related to the novation of a reinsurance treaty with a third party. Net investment gains were $590 million, compared with $363 million in 2022.

4. 04

   Aflac said it repurchased $2.8 billion of common shares, or 38.9 million shares, in 2023. It also said shareholders’ equity was $22.0 billion, or $38.00 per share, as of December 31, 2023, compared with $20.1 billion, or $32.73, at the end of 2022.

Key figures

Fiscal year ended December 31, 2023

Revenue

$18.7B

Net income

$4.7B

EPS

$7.78

Operating cash flow

$3.2B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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