Aflac (AFL) 10-Q 5 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Jul. 28, 2016
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Trading Symbol	AFL
Entity Registrant Name	AFLAC INC
Entity Central Index Key	4,977
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		409,575,251

Consolidated Statements of Earn

Consolidated Statements of Earnings - USD ($) shares in Thousands, $ in Millions		3 Months Ended			6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015		Jun. 30, 2016	Jun. 30, 2015
Revenues:
Net premiums, principally supplemental health insurance		$ 4,823	$ 4,364		$ 9,425	$ 8,796
Net investment income		822	777		1,623	1,559
Realized investment gains (losses):
Other-than-temporary impairment losses realized	[1]	(33)	0		(47)	(6)
Sales and redemptions		13	92		104	160
Derivative and other gains (losses)		(167)	35		(171)	(14)
Total realized investment gains (losses)		(187)	127		(114)	140
Other income (loss)		(21)	19		(46)	18
Total revenues		5,437	5,287		10,888	10,513
Benefits and expenses:
Benefits and claims, net		3,254	2,937		6,279	5,889
Acquisition and operating expenses:
Amortization of deferred policy acquisition costs		284	255		576	532
Insurance commissions		345	325		678	655
Insurance expenses		613	550		1,176	1,080
Interest expense		66	74		131	157
Other expenses		41	272	[2]	97	313	[2]
Total acquisition and operating expenses		1,349	1,476		2,658	2,737
Total benefits and expenses		4,603	4,413		8,937	8,626
Earnings before income taxes		834	874		1,951	1,887
Income taxes		286	301		672	651
Net earnings		$ 548	$ 573		$ 1,279	$ 1,236
Net earnings per share:
Basic (in dollars per share)		$ 1.33	$ 1.33		$ 3.08	$ 2.84
Diluted (in dollars per share)		$ 1.32	$ 1.32		$ 3.06	$ 2.83
Weighted-average outstanding common shares used in computing earnings per share (In thousands):
Basic (in shares)		411,853	431,672		415,301	434,473
Diluted (in shares)		414,326	434,257		417,623	437,077
Cash dividends per share		$ 0.41	$ 0.39		$ 0.82	$ 0.78
8.50% senior notes due May 2019
Extinguishment of debt, make-whole premium			$ 230			$ 230
[1]	Includes $33 and an immaterial amount for the three-month periods and $47 and $6 for the six-month periods ended June 30, 2016 and 2015, respectively, from change in intent to sell securities or change in intent to hold securities until recovery
[2]	Includes expense of $230 for the make-whole payment associated with the early extinguishment of debt

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement of Comprehensive Income [Abstract]
Net earnings		$ 548	$ 573	$ 1,279	$ 1,236
Other comprehensive income (loss) before income taxes:
Unrealized foreign currency translation gains (losses) during period		899	(170)	1,588	(161)
Unrealized gains (losses) on investment securities:
Unrealized holding gains (losses) on investment securities during period		2,693	(2,458)	5,382	(1,865)
Reclassification adjustment for realized (gains) losses on investment securities included in net earnings		11	(68)	(66)	(118)
Unrealized gains (losses) on derivatives during period		8	2	11	(2)
Pension liability adjustment during period		(4)	1	(6)	1
Total other comprehensive income (loss) before income taxes		3,607	(2,693)	6,909	(2,145)
Income tax expense (benefit) related to items of other comprehensive income (loss)		1,111	(868)	2,102	(673)
Other comprehensive income (loss), net of income taxes	[1]	2,496	(1,825)	4,807	(1,472)
Total comprehensive income (loss)		$ 3,044	$ (1,252)	$ 6,086	$ (236)
[1]	All amounts in the table above are net of tax.

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions		Jun. 30, 2016	Dec. 31, 2015
Securities held to maturity, at amortized cost:
Fixed maturities		$ 38,346	$ 33,459
Other Investments		622	294
Cash and cash equivalents		3,700	4,350
Total investments and cash		125,983	105,897
Receivables		758	705
Accrued investment income		806	768
Deferred policy acquisition costs		9,552	8,511
Property and equipment, at cost less accumulated depreciation		467	427
Other	[1]	3,721	1,948
Total assets		141,287	118,256
Policy liabilities:
Future policy benefits		82,611	69,687
Unpaid policy claims		4,261	3,802
Unearned premiums		8,726	7,857
Other policyholders’ funds		7,468	6,285
Total policy liabilities		103,066	87,631
Income Taxes		6,714	4,340
Payables for return of cash collateral on loaned securities		826	941
Notes payable		5,009	4,971
Other	[2]	3,122	2,665
Total liabilities		118,737	100,548
Shareholders’ equity:
Common stock of $.10 par value. In thousands: authorized 1,900,000 shares in 2016 and 2015; issued 670,764 shares in 2016 and 669,723 shares in 2015		67	67
Additional paid-in capital		1,905	1,828
Retained earnings		24,944	24,007
Accumulated other comprehensive income (loss):
Unrealized foreign currency translation gains (losses)		(847)	(2,196)
Unrealized gain (losses) on investment securities		6,441	2,986
Unrealized gains (losses) on derivatives		(19)	(26)
Pension liability adjustment		(143)	(139)
Treasury stock, at average cost		(9,798)	(8,819)
Total shareholders’ equity		22,550	17,708
Total liabilities and shareholders’ equity		141,287	118,256
Investments Other Than Consolidated Variable Interest Entities
Securities available for sale, at fair value:
Fixed maturities		74,793	60,795
Perpetual securities		1,635	1,719
Equity securities		256	135
Securities held to maturity, at amortized cost:
Fixed maturities		38,346	33,459
Variable Interest Entity, Consolidated
Securities available for sale, at fair value:
Fixed maturities		5,493	4,554
Perpetual securities		197	228
Equity securities		$ 941	$ 363
[1]	Includes $177 in 2016 and $102 in 2015 of derivatives from consolidated variable interest entities
[2]	Includes $117 in 2016 and $293 in 2015 of derivatives from consolidated variable interest entities

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Securities held to maturity, fixed maturities, fair value	$ 48,796	$ 37,520
Common stock, par value (in dollars per share)	$ 0.1	$ 0.1
Common stock, shares authorized (in shares)	1,900,000,000	1,900,000,000
Common stock, shares issued (in shares)	670,764,000	669,723,000
Asset derivatives	$ 1,963	$ 676
Liability derivatives	542	371
Investments Other Than Consolidated Variable Interest Entities
Securities available for sale, fixed maturities, amortized cost	65,121	56,903
Securities available for sale, perpetual securities, amortized cost	1,649	1,586
Securities available for sale, equity securities, cost	227	117
Securities held to maturity, fixed maturities, fair value	48,796	37,520
Variable Interest Entity, Consolidated
Securities available for sale, fixed maturities, amortized cost	4,878	3,739
Securities available for sale, perpetual securities, amortized cost	267	255
Securities available for sale, equity securities, cost	1,018	363
Asset derivatives	177	102
Liability derivatives	$ 117	$ 293

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Millions	Total	Common stock:	Additional paid-in capital:	Retained earnings:	Accumulated other comprehensive income (loss):	Treasury stock:
Balance, beginning of period at Dec. 31, 2014		$ 67	$ 1,711	$ 22,156	$ 1,979	$ (7,566)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options			24
Share-based compensation			17
Net earnings	$ 1,236			1,236
Dividends to shareholders				(340)
Unrealized foreign currency translation gains (losses) during period, net of income taxes					(184)
Unrealized gains (losses) on investment securities during period, net of income taxes and reclassification adjustments					(1,288)
Unrealized gains (losses) on derivatives during period, net of income taxes					(1)
Pension liability adjustment during period, net of income taxes					1
Purchases of treasury stock						(848)
Treasury stock reissued			20			34
Balance, end of period at Jun. 30, 2015	17,018	67	1,772	23,052	507	(8,380)
Balance, beginning of period at Dec. 31, 2015	17,708	67	1,828	24,007	625	(8,819)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options			25
Share-based compensation			34
Net earnings	1,279			1,279
Dividends to shareholders				(342)
Unrealized foreign currency translation gains (losses) during period, net of income taxes					1,349
Unrealized gains (losses) on investment securities during period, net of income taxes and reclassification adjustments					3,455
Unrealized gains (losses) on derivatives during period, net of income taxes					7
Pension liability adjustment during period, net of income taxes					(4)
Purchases of treasury stock						(1,014)
Treasury stock reissued			18			35
Balance, end of period at Jun. 30, 2016	$ 22,550	$ 67	$ 1,905	$ 24,944	$ 5,432	$ (9,798)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015
Cash flows from operating activities:
Net earnings		$ 1,279	$ 1,236
Adjustments to reconcile net earnings to net cash provided by operating activities:
Change in receivables and advance premiums		53	1
Increase in deferred policy acquisition costs		(103)	(87)
Increase in policy liabilities		1,654	1,714
Change in income tax liabilities		(136)	130
Realized investment (gains) losses		114	(140)
Other, net		(7)	249	[1]
Net cash provided (used) by operating activities		2,854	3,103
Securities available for sale:
Fixed maturities sold		675	1,410
Fixed maturities matured or called		612	518
Perpetual securities matured or called		234	348
Equity securities sold		50	1
Securities held to maturity:
Fixed maturities matured or called		736	420
Costs of investments acquired:
Available for sale fixed maturities acquired		(3,827)	(3,004)
Available for sale equity securities acquired		(691)	0
Other investments, net		(324)	(31)
Settlement of derivatives, net		664	(2,200)
Cash received (pledged or returned) as collateral, net		(525)	(1,001)
Other, net		(33)	(27)
Net cash provided (used) by investing activities		(2,429)	(3,566)
Cash flows from financing activities:
Purchases of treasury stock		(1,014)	(848)
Proceeds from borrowings		0	998
Principal payments under debt obligations		(1)	(850)
Dividends paid to shareholders		(330)	(328)
Change in investment-type contracts, net		82	147
Treasury stock reissued		19	20
Other, net		(37)	(226)	[1]
Net cash provided (used) by financing activities		(1,281)	(1,087)
Effect of exchange rate changes on cash and cash equivalents		206	(5)
Net change in cash and cash equivalents		(650)	(1,555)
Cash and cash equivalents, beginning of period		4,350	4,658
Cash and cash equivalents, end of period		3,700	3,103
Supplemental disclosures of cash flow information:
Income taxes paid		944	527
Interest paid		101	127
Noncash interest		30	30
Impairment losses included in realized investment losses	[2]	47	6
Capital lease obligations incurred		2	1
Associate stock bonus
Treasury stock issued for:
Treasury stock issued		17	18
Shareholder dividend reinvestment
Treasury stock issued for:
Treasury stock issued		12	12
Share-based compensation grants
Treasury stock issued for:
Treasury stock issued		$ 5	4
8.50% senior notes due May 2019
Extinguishment of debt, make-whole premium			$ 230
[1]	Operating activities excludes and financing activities includes a cash outflow of $230 for the make-whole payment associated with the early extinguishment of debt
[2]	Includes $33 and an immaterial amount for the three-month periods and $47 and $6 for the six-month periods ended June 30, 2016 and 2015, respectively, from change in intent to sell securities or change in intent to hold securities until recovery

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Description of Business Aflac Incorporated (the Parent Company) and its subsidiaries (collectively, the Company) primarily sell supplemental health and life insurance in the United States and Japan. The Company's insurance business is marketed and administered through American Family Life Assurance Company of Columbus (Aflac), which operates in the United States (Aflac U.S.) and as a branch in Japan (Aflac Japan). American Family Life Assurance Company of New York (Aflac New York) is a wholly owned subsidiary of Aflac. Most of Aflac's policies are individually underwritten and marketed through independent agents. Additionally, Aflac U.S. markets and administers group products through Continental American Insurance Company (CAIC), branded as Aflac Group Insurance. Our insurance operations in the United States and our branch in Japan service the two markets for our insurance business. Aflac Japan's revenues, including realized gains and losses on its investment portfolio, accounted for 75% and 70% of the Company's total revenues in the six -month periods ended June 30, 2016 , and 2015 , respectively. The percentage of the Company's total assets attributable to Aflac Japan was 85% at June 30, 2016 , compared with 83% at December 31, 2015 . Basis of Presentation We prepare our financial statements in accordance with U.S. generally accepted accounting principles (GAAP). These principles are established primarily by the Financial Accounting Standards Board (FASB). In these Notes to the Consolidated Financial Statements, references to U.S. GAAP issued by the FASB are derived from the FASB Accounting Standards Codification TM (ASC). The preparation of financial statements in conformity with U.S. GAAP requires us to make estimates when recording transactions resulting from business operations based on currently available information. The most significant items on our balance sheet that involve a greater degree of accounting estimates and actuarial determinations subject to changes in the future are the valuation of investments, deferred policy acquisition costs, liabilities for future policy benefits and unpaid policy claims, and income taxes. These accounting estimates and actuarial determinations are sensitive to market conditions, investment yields, mortality, morbidity, commission and other acquisition expenses, and terminations by policyholders. As additional information becomes available, or actual amounts are determinable, the recorded estimates will be revised and reflected in operating results. Although some variability is inherent in these estimates, we believe the amounts provided are adequate. The unaudited consolidated financial statements include the accounts of the Parent Company, its subsidiaries and those entities required to be consolidated under applicable accounting standards. All material intercompany accounts and transactions have been eliminated. In the opinion of management, the accompanying unaudited consolidated financial statements of the Company contain all adjustments, consisting of normal recurring accruals, which are necessary to fairly present the consolidated balance sheets as of June 30, 2016 and December 31, 2015 , the consolidated statements of earnings and comprehensive income (loss) for the three - and six -month periods ended June 30, 2016, and 2015, and the consolidated statements of shareholders' equity and cash flows for the six -month periods ended June 30, 2016 and 2015 . Results of operations for interim periods are not necessarily indicative of results for the entire year. As a result, these financial statements should be read in conjunction with the financial statements and notes thereto included in our annual report to shareholders for the year ended December 31, 2015 . New Accounting Pronouncements Recently Adopted Accounting Pronouncements Business Combinations - Simplifying the Accounting for Measurement-Period Adjustments: In September 2015, the FASB issued guidance requiring that an acquirer recognize adjustments to estimated amounts that are identified during the measurement period in the reporting period in which the adjustments are determined. In the same period’s financial statements, the acquirer is required to record income effects of the adjustments as if the accounting had been completed at the acquisition date. The acquirer is also required to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the estimated amounts had been recognized as of the acquisition date. We adopted this guidance as of January 1, 2016. The adoption of this guidance did not have a significant impact on our financial position or results of operations. Fair Value Measurement - Disclosures for investments in certain entities that calculate net asset value per share (or its equivalent): In May 2015, the FASB issued updated guidance that removes the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value per share practical expedient. The amendments also remove the requirement to make certain disclosures for all investments that are eligible to be measured at fair value using the net asset value per share practical expedient. Rather, those disclosures are limited to investments for which the entity has elected to measure the fair value using that practical expedient. We adopted this guidance as of January 1, 2016. The adoption of this guidance did not have a significant impact on our financial position, results of operations, or disclosures. Interest - Imputation of Interest - Simplifying the presentation of debt issuance costs: In April 2015, the FASB issued updated guidance to simplify presentation of debt issuance costs. The updated guidance requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by this amendment. In August 2015, the FASB issued updated Securities and Exchange Commission (SEC) Staff guidance pertaining to the presentation of debt issuance costs related to line-of-credit arrangements. The guidance states that an entity may defer and present debt issuance costs as an asset, subsequently amortizing the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. We retrospectively adopted this guidance as of January 1, 2016. The retrospective adoption of this accounting standard resulted in a $40 million reduction to notes payable and other assets as of December 31, 2015, the earliest balance sheet date presented in the period of adoption. Consolidation - Amendments to the consolidation analysis: In February 2015, the FASB issued updated guidance that affects evaluation of whether limited partnerships and similar legal entities (limited liability corporations and securitization structures, etc.) are variable interest entities (VIEs), evaluation of whether fees paid to a decision maker or a service provider are a variable interest, and evaluation of the effect of fee arrangements and the effect of related parties on the determination of the primary beneficiary under the VIE model for consolidation. The updated guidance eliminates the presumption that a general partner should consolidate a limited partnership. Limited partnership and similar legal entities that provide partners with either substantive kick-out rights or substantive participating rights over the general partner will now be evaluated under the voting interest model rather than the VIE model for consolidation. In situations where no single party has a controlling financial interest in a VIE, the related party relationships under common control should be considered in their entirety in determining whether that common control group has a controlling financial interest in the VIE. We adopted this guidance as of January 1, 2016. The adoption of this guidance impacted our footnote disclosures, but did not have a significant impact on our financial position or results of operations. Derivatives and Hedging - Determining whether the host contract in a hybrid financial instrument issued in the form of a share is more akin to debt or equity: In November 2014, the FASB issued guidance to clarify how to evaluate the economic characteristics and risks of a host contract in a hybrid financial instrument that is issued in the form of a share. The guidance also clarifies that an entity should assess the substance of the relevant terms and features when considering how to weight those terms and features. We adopted this guidance as of January 1, 2016. The adoption of this guidance did not have a significant impact on our financial position or results of operations. Compensation - Stock Compensation - Accounting for share-based payments when the terms of an award provide that a performance target could be achieved after the requisite service period: In June 2014, the FASB issued this amendment that provides guidance on certain share-based payment awards that require a specific performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. A reporting entity should apply existing guidance to awards with performance conditions that affect vesting to account for such awards. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. The total amount of compensation cost recognized during and after the requisite service period should reflect the number of awards that are expected to vest and should be adjusted to reflect those awards that ultimately vest. We adopted this guidance as of January 1, 2016. The adoption of this guidance did not have a significant impact on our financial position or results of operations. Accounting Pronouncements Pending Adoption Financial Instruments - Measurement of Credit Losses on Financial Instruments: In June 2016, the FASB issued amendments that require a financial asset (or a group of financial assets) measured on an amortized cost basis to be presented net of an allowance for credit losses in order to reflect the amount expected to be collected on the financial asset(s). The measurement of expected credit losses is amended by replacing the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform about a credit loss. Credit losses on available-for-sale debt securities will continue to be measured in a manner similar to current GAAP. However, the amendments require that credit losses be presented as an allowance rather than as a writedown. Other amendments include changes to the balance sheet presentation and interest income recognition of purchased financial assets with a more-than-insignificant amount of credit deterioration since origination. The amendments are effective for public companies for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Companies may early adopt this guidance as of the fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. We are evaluating the impact of adoption of this guidance on our financial position, results of operations and disclosures. Compensation - Stock Compensation - Improvements to Employee Share-Based Payment Accounting: In March 2016, the FASB issued amendments which simplify several aspects for share-based payment award transactions, including income tax consequences, classification of awards as either liability or equities, and classification on the statement of cash flows. The amendments are effective for public companies for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Early adoption is permitted for any interim or annual period. We are currently evaluating the impact of this guidance on our financial position, results of operations or disclosures. Investments - Equity Method and Joint Ventures - Simplifying the Transition to the Equity Method of Accounting: In March 2016, the FASB issued amendments which eliminate the requirement that when an investment qualifies for use of the equity method as a result of an increase in the level of ownership interest or degree of influence, an investor must adjust the investment, results of operations, and retained earnings retroactively on a step-by-step basis as if the equity method had been in effect during all previous periods that the investment had been held. Per the amendments, upon qualifying for the equity method of accounting, no retroactive adjustment of the investment is required. The amendments also require that an entity that has an available-for-sale equity security that becomes qualified for the equity method of accounting recognize through earnings the unrealized holding gain or loss in accumulated other comprehensive income at the date the investment becomes qualified for use of the equity method. The amendments are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. The amendments should be applied prospectively upon their effective date to increases in the level of ownership interest or degree of influence that result in the adoption of the equity method. Early adoption is permitted. The adoption of this guidance is not expected to have a significant impact on our financial position or results of operations. Derivatives and Hedging - Contingent Put and Call Options in Debt Instruments: In March 2016, the FASB issued amendments which clarify what steps are required when assessing whether the economic characteristics and risks of call (put) options are clearly and closely related to the economic characteristics and risks of their debt hosts, which is one of the criteria for bifurcating an embedded derivative. Consequently, when a call (put) option is contingently exercisable, an entity does not have to assess whether the event that triggers the ability to exercise a call (put) option is related to interest rates or credit risks. The amendments are effective for public business entities for fiscal years beginning after December 15, 2016 and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The adoption of this guidance is not expected to have a significant impact on our financial position or results of operations. Derivatives and Hedging - Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships: In March 2016, the FASB issued amendments which clarify that a change in the counterparty to a derivative instrument that has been designated as the hedging instrument does not, in and of itself, require dedesignation of that hedging relationship provided that all other hedge accounting criteria remain intact. The amendments are effective for public business entities for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The adoption of this guidance is not expected to have a significant impact on our financial position or results of operations. Leases: In January 2016, the FASB issued updated guidance for accounting for leases. Per the amendments, lessees will be required to recognize all leases on the balance sheet, with the exception of short-term leases. A lease liability will be recorded for the obligation of a lessee to make lease payments arising from a lease. A right-of-use asset, will be recorded which represents the lessee’s right to use, or to control the use of, a specified asset for a lease term. Under the new guidance, lessor accounting is largely unchanged. The amendments are effective for public companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. We are currently evaluating the impact of this guidance on our financial position, results of operations or disclosures. Financial Instruments - Recognition and Measurement of Financial Assets and Financial Liabilities: In January 2016, the FASB issued guidance to address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The main provisions require that equity investments be measured at fair value with changes recognized in net income; that changes in instrument-specific credit risk for financial liabilities that are measured under the fair value option be recognized in other comprehensive income; and that entities would make the assessment of the ability to realize a deferred tax asset (DTA) related to an available-for-sale (AFS) debt security in combination with the entity's other DTAs. The amendments are effective for public companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is not permitted, with the exception of the own credit provision if an entity has elected to measure a liability at fair value. We are evaluating whether the adoption of this guidance will have a significant impact on our financial position, results of operations or disclosures. Financial Services - Insurance - Disclosures about Short-Duration Contracts: In May 2015, the FASB issued updated guidance requiring enhanced disclosures by all insurance entities that issue short-duration contracts. The amendments require insurance entities to disclose for annual reporting periods information about the liability for unpaid claims and claim adjustment expenses. The amendments also require insurance entities to disclose information about significant changes in methodologies and assumptions used to calculate the liability for unpaid claims and claim adjustment expenses. In addition, the amendments require insurance entities to disclose for annual and interim reporting periods a roll-forward of the liability for unpaid claims and claim adjustment expenses. For health insurance claims, the amendments require the disclosure of the total of incurred-but-not-reported liabilities and expected development on reported claims included in the liability for unpaid claims and claim adjustment expenses. The amendments are effective for public business entities for annual periods beginning after December 15, 2015, and interim periods within annual periods beginning after December 15, 2016. Early application of the amendments is permitted. The adoption of this guidance will not have a significant impact on our financial position or results of operations. Presentation of Financial Statements - Going Concern - Disclosure of uncertainties about an entity’s ability to continue as a going concern: In August 2014, the FASB issued this amendment that provides U.S. GAAP guidance on management’s responsibility in evaluating whether there is substantial doubt about a company’s ability to continue as a going concern and about related footnote disclosures. For each reporting period, management will be required to evaluate whether there are conditions or events that raise substantial doubt about a company’s ability to continue as a going concern within one year from the date the financial statements are issued. The amendment is effective for annual periods ending after December 15, 2016, and interim periods within annual periods beginning after December 15, 2016. Early application is permitted for annual or interim reporting periods for which the financial statements have not previously been issued. The adoption of this guidance will not have a significant impact on our financial position or results of operations. Revenue from contracts with customers: In May 2014, the FASB issued updated guidance that affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards (e.g., insurance contracts or lease contracts). The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In August 2015, the FASB deferred the effective date for this standard to annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Other updates related to the new guidance, which are effective as of the same reporting period, pertain to identifying performance obligations and licensing, and principal versus agent considerations. Early application is not permitted. We are currently evaluating the impact of this guidance on our financial position, results of operations or disclosures. Recent accounting guidance not discussed above is not applicable, did not have, or is not expected to have a material impact to our business. For additional information on new accounting pronouncements and recent accounting guidance and their impact, if any, on our financial position or results of operations, see Note 1 of the Notes to the Consolidated Financial Statements in our annual report to shareholders for the year ended December 31, 2015 .

BUSINESS SEGMENT INFORMATION

BUSINESS SEGMENT INFORMATION	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
BUSINESS SEGMENT INFORMATION	BUSINESS SEGMENT INFORMATION The Company consists of two reportable insurance business segments: Aflac Japan and Aflac U.S., both of which sell supplemental health and life insurance. Operating business segments that are not individually reportable and business activities, including reinsurance retrocession activities, not included in Aflac Japan or Aflac U.S. are included in the "Other business segments" category. We do not allocate corporate overhead expenses to business segments. Consistent with U.S. GAAP accounting guidance for segment reporting, we evaluate and manage our business segments using a financial performance measure called pretax operating earnings. Our definition of operating earnings includes interest cash flows associated with notes payable and excludes the following items from net earnings on an after-tax basis: realized investment gains/losses (securities transactions, impairments, and the impact of derivative and hedging activities), nonrecurring items and other non-operating income (loss). We then exclude income taxes related to operations to arrive at pretax operating earnings. Information regarding operations by segment follows: Three Months Ended Six Months Ended (In millions) 2016 2015 2016 2015 Revenues: Aflac Japan: Net earned premiums $ 3,402 $ 2,978 $ 6,581 $ 6,056 Net investment income 642 605 1,264 1,218 Other income 11 7 19 15 Total Aflac Japan 4,055 3,590 7,864 7,289 Aflac U.S.: Net earned premiums 1,362 1,331 2,729 2,670 Net investment income 176 168 350 334 Other income 0 2 3 5 Total Aflac U.S. 1,538 1,501 3,082 3,009 Other business segments 68 65 136 91 Total business segment revenues 5,661 5,156 11,082 10,389 Realized investment gains (losses) (1) (208 ) 104 (157 ) 100 Corporate 69 71 136 169 Intercompany eliminations (48 ) (50 ) (93 ) (133 ) Other non-operating income (loss) (37 ) 6 (80 ) (12 ) Total revenues $ 5,437 $ 5,287 $ 10,888 $ 10,513 (1) Excluding a gain of $21 and $23 for the three -month periods and $43 and $40 for the six -month periods ended June 30, 2016 , and 2015 , respectively, related to the interest rate component of the change in fair value of foreign currency swaps on notes payable which is classified as an operating gain when analyzing segment operations Three Months Ended Six Months Ended (In millions) 2016 2015 2016 2015 Pretax earnings: Aflac Japan $ 839 $ 757 $ 1,677 $ 1,576 Aflac U.S. 291 293 623 578 Other business segments 5 3 8 4 Total business segment pretax operating earnings 1,135 1,053 2,308 2,158 Interest expense, noninsurance operations (30 ) (38 ) (59 ) (87 ) Corporate and eliminations (26 ) (20 ) (61 ) (41 ) Pretax operating earnings 1,079 995 2,188 2,030 Realized investment gains (losses) (1) (208 ) 104 (157 ) 100 Other non-operating income (loss) (37 ) (225 ) (80 ) (243 ) Total earnings before income taxes $ 834 $ 874 $ 1,951 $ 1,887 Income taxes applicable to pretax operating earnings $ 372 $ 344 $ 755 $ 701 Effect of foreign currency translation on operating earnings 36 (59 ) 49 (117 ) (1) Excluding a gain of $21 and $23 for the three -month periods and $43 and $40 for the six -month periods ended June 30, 2016 , and 2015 , respectively, related to the interest rate component of the change in fair value of foreign currency swaps on notes payable which is classified as an operating gain when analyzing segment operations Assets were as follows: (In millions) June 30, December 31, Assets: Aflac Japan $ 120,571 $ 97,646 Aflac U.S. 19,712 18,537 Other business segments 248 188 Total business segment assets 140,531 116,371 Corporate 28,189 23,375 Intercompany eliminations (27,433 ) (21,490 ) Total assets $ 141,287 $ 118,256 Prior-year amounts have been adjusted for the adoption of accounting guidance on January 1, 2016 related to debt issuance costs.

INVESTMENTS

INVESTMENTS	6 Months Ended
	Jun. 30, 2016
Investments [Abstract]
INVESTMENTS	INVESTMENTS Investment Holdings The amortized cost for our investments in debt and perpetual securities, the cost for equity securities and the fair values of these investments are shown in the following tables. June 30, 2016 (In millions) Cost or Gross Gross Fair Securities available for sale, carried at fair value: Fixed maturities: Yen-denominated: Japan government and agencies $ 22,176 $ 5,828 $ 0 $ 28,004 Municipalities 200 60 0 260 Mortgage- and asset-backed securities 870 51 0 921 Public utilities 1,639 277 13 1,903 Sovereign and supranational 927 189 0 1,116 Banks/financial institutions 2,704 382 119 2,967 Other corporate 3,926 650 55 4,521 Total yen-denominated 32,442 7,437 187 39,692 Dollar-denominated: U.S. government and agencies 123 16 0 139 Municipalities 943 164 7 1,100 Mortgage- and asset-backed securities 199 18 0 217 Public utilities 5,724 776 76 6,424 Sovereign and supranational 352 97 0 449 Banks/financial institutions 2,742 533 16 3,259 Other corporate 27,474 2,316 784 29,006 Total dollar-denominated 37,557 3,920 883 40,594 Total fixed maturities 69,999 11,357 1,070 80,286 Perpetual securities: Yen-denominated: Banks/financial institutions 1,650 77 199 1,528 Other corporate 214 20 0 234 Dollar-denominated: Banks/financial institutions 52 18 0 70 Total perpetual securities 1,916 115 199 1,832 Equity securities: Yen-denominated 694 29 76 647 Dollar-denominated 551 17 18 550 Total equity securities 1,245 46 94 1,197 Total securities available for sale $ 73,160 $ 11,518 $ 1,363 $ 83,315 June 30, 2016 (In millions) Cost or Gross Gross Fair Securities held to maturity, carried at amortized cost: Fixed maturities: Yen-denominated: Japan government and agencies $ 23,440 $ 8,636 $ 0 $ 32,076 Municipalities 398 167 0 565 Mortgage- and asset-backed securities 39 2 0 41 Public utilities 3,623 415 10 4,028 Sovereign and supranational 2,994 404 7 3,391 Banks/financial institutions 4,659 293 32 4,920 Other corporate 3,193 590 8 3,775 Total yen-denominated 38,346 10,507 57 48,796 Total securities held to maturity $ 38,346 $ 10,507 $ 57 $ 48,796 December 31, 2015 (In millions) Cost or Gross Gross Fair Securities available for sale, carried at fair value: Fixed maturities: Yen-denominated: Japan government and agencies $ 17,293 $ 1,862 $ 0 $ 19,155 Municipalities 128 9 0 137 Mortgage- and asset-backed securities 322 33 0 355 Public utilities 1,400 210 10 1,600 Sovereign and supranational 791 180 0 971 Banks/financial institutions 2,321 325 105 2,541 Other corporate 3,337 448 33 3,752 Total yen-denominated 25,592 3,067 148 28,511 Dollar-denominated: U.S. government and agencies 110 11 0 121 Municipalities 926 151 6 1,071 Mortgage- and asset-backed securities 200 27 0 227 Public utilities 5,464 636 221 5,879 Sovereign and supranational 331 105 0 436 Banks/financial institutions 2,865 634 21 3,478 Other corporate 25,154 1,774 1,302 25,626 Total dollar-denominated 35,050 3,338 1,550 36,838 Total fixed maturities 60,642 6,405 1,698 65,349 Perpetual securities: Yen-denominated: Banks/financial institutions 1,581 143 93 1,631 Other corporate 183 22 0 205 Dollar-denominated: Banks/financial institutions 77 35 1 111 Total perpetual securities 1,841 200 94 1,947 Equity securities: Yen-denominated 472 19 4 487 Dollar-denominated 8 3 0 11 Total equity securities 480 22 4 498 Total securities available for sale $ 62,963 $ 6,627 $ 1,796 $ 67,794 December 31, 2015 (In millions) Cost or Gross Gross Fair Securities held to maturity, carried at amortized cost: Fixed maturities: Yen-denominated: Japan government and agencies $ 20,004 $ 3,387 $ 0 $ 23,391 Municipalities 341 74 0 415 Mortgage- and asset-backed securities 36 2 0 38 Public utilities 3,092 205 94 3,203 Sovereign and supranational 2,555 182 26 2,711 Banks/financial institutions 4,431 168 53 4,546 Other corporate 3,000 260 44 3,216 Total yen-denominated 33,459 4,278 217 37,520 Total securities held to maturity $ 33,459 $ 4,278 $ 217 $ 37,520 The methods of determining the fair values of our investments in fixed-maturity securities, perpetual securities and equity securities are described in Note 5. Beginning in 2015 and continuing into the first six months of 2016 , we increased our investment in yen-denominated publicly traded equity securities. During the first six months of 2016 , we also increased our investment in U.S. dollar-denominated publicly traded equity securities. These securities are classified as available for sale and carried on our balance sheet at fair value. During the first and second quarters of 2016 and 2015, respectively, we did not reclassify any investments from the held-to-maturity category to the available-for-sale category. Contractual and Economic Maturities The contractual maturities of our investments in fixed maturities at June 30, 2016 , were as follows: Aflac Japan Aflac U.S. (In millions) Amortized Fair Amortized Fair Available for sale: Due in one year or less $ 305 $ 312 $ 60 $ 62 Due after one year through five years 3,882 3,972 722 789 Due after five years through 10 years 11,905 12,101 2,487 2,726 Due after 10 years 40,332 48,573 8,776 10,124 Mortgage- and asset-backed securities 926 988 34 41 Total fixed maturities available for sale $ 57,350 $ 65,946 $ 12,079 $ 13,742 Held to maturity: Due in one year or less $ 49 $ 49 $ 0 $ 0 Due after one year through five years 1,983 2,087 0 0 Due after five years through 10 years 2,084 2,283 0 0 Due after 10 years 34,191 44,336 0 0 Mortgage- and asset-backed securities 39 41 0 0 Total fixed maturities held to maturity $ 38,346 $ 48,796 $ 0 $ 0 At June 30, 2016 , the Parent Company and other business segments had portfolios of available-for-sale fixed-maturity securities totaling $570 million at amortized cost and $598 million at fair value, which are not included in the table above. Expected maturities may differ from contractual maturities because some issuers have the right to call or prepay obligations with or without call or prepayment penalties. The majority of our perpetual securities are subordinated to other debt obligations of the issuer, but rank higher than the issuer's equity securities. Perpetual securities have characteristics of both debt and equity investments, along with unique features that create economic maturity dates for the securities. Although perpetual securities have no contractual maturity date, they have stated interest coupons that were fixed at their issuance and subsequently change to a floating short-term interest rate after some period of time. The instruments are generally callable by the issuer at the time of changing from a fixed coupon rate to a new variable rate of interest, which is determined by the combination of some market index plus a fixed amount of basis points. The net effect is to create an expected maturity date for the instrument. The economic maturities of our investments in perpetual securities, which were all reported as available for sale at June 30, 2016 , were as follows: Aflac Japan Aflac U.S. (In millions) Amortized Fair Amortized Fair Due in one year or less $ 221 $ 195 $ 0 $ 0 Due after one year through five years 306 316 0 0 Due after 10 years 1,350 1,269 39 52 Total perpetual securities available for sale $ 1,877 $ 1,780 $ 39 $ 52 Investment Concentrations Our process for credit-related investments begins with an independent approach to underwriting each issuer's fundamental credit quality. We evaluate independently those factors which we believe could influence an issuer's ability to make payments under the contractual terms of our instruments. This includes a thorough analysis of a variety of items including the issuer's country of domicile (including political, legal, and financial considerations); the industry in which the issuer competes (with an analysis of industry structure, end-market dynamics, and regulation); company specific issues (such as management, assets, earnings, cash generation, and capital needs); and contractual provisions of the instrument (such as financial covenants and position in the capital structure). We further evaluate the investment considering broad business and portfolio management objectives, including asset/liability needs, portfolio diversification, and expected income. Investment exposures that individually exceeded 10% of shareholders' equity as of June 30, 2016 and December 31, 2015 were as follows: June 30, 2016 December 31, 2015 (In millions) Credit Amortized Fair Credit Amortized Fair Japan National Government (1) A $45,064 $59,305 A $36,859 $42,025 (1) Japan Government Bonds (JGBs) or JGB-backed securities Realized Investment Gains and Losses Information regarding pretax realized gains and losses from investments is as follows: Three Months Ended Six Months Ended (In millions) 2016 2015 2016 2015 Realized investment gains (losses): Fixed maturities: Available for sale: Gross gains from sales $ 6 $ 55 $ 8 $ 104 Gross losses from sales (12 ) 0 (16 ) 0 Net gains (losses) from redemptions (5 ) 7 78 26 Other-than-temporary impairment losses (9 ) 0 (21 ) (6 ) Total fixed maturities (20 ) 62 49 124 Perpetual securities: Available for sale: Net gains (losses) from redemptions 30 30 40 30 Other-than-temporary impairment losses 0 0 (2 ) 0 Total perpetual securities 30 30 38 30 Equity securities: Gross gains from sales 2 0 5 0 Gross losses from sales (8 ) 0 (11 ) 0 Other-than-temporary impairment losses (24 ) 0 (24 ) 0 Total equity securities (30 ) 0 (30 ) 0 Derivatives and other: Derivative gains (losses) (167 ) 35 (171 ) (14 ) Total derivatives and other (167 ) 35 (171 ) (14 ) Total realized investment gains (losses) $ (187 ) $ 127 $ (114 ) $ 140 Other-than-temporary Impairment The majority of our fixed maturity and perpetual security investments are evaluated for other-than-temporary impairment using our debt impairment model. Our debt impairment model focuses on the ultimate collection of the cash flows from our investments and whether we have the intent to sell or if it is more likely than not we would be required to sell the security prior to recovery of its amortized cost. The fair values of our fixed maturity and perpetual security investments fluctuate based on changes in interest rates, foreign exchange, and credit spreads in the global financial markets. Fair values can also be heavily influenced by the values of the assets of the issuer and expected ultimate recovery values upon a default, bankruptcy or other financial restructuring. Credit spreads are most impacted by the general credit environment and global market liquidity. Interest rates are driven by numerous factors including, but not limited to, supply and demand, governmental monetary actions, expectations of inflation and economic growth. We believe that fluctuations in the fair values of our investment securities related to general changes in the level of credit spreads or interest rates have little bearing on underlying credit quality of the issuer, and whether our investment is ultimately recoverable. Generally, we consider such declines in fair values to be temporary even in situations where an investment remains in an unrealized loss position for an extended period of time. In the course of our review process, we may determine that it is unlikely that our fixed maturity or perpetual security investment will recover in value within an acceptable time frame. Factors which may influence this determination include the severity of the price decline, the length of time the price has been impaired, if the price decline was driven by issuer credit deterioration, and our view of the likelihood of the security defaulting or otherwise being subject to an unfavorable restructuring. In those cases where we believe the security will not recover in price within an acceptable period of time, we consider such a decline in the investment's fair value, to the extent it is below the investment's cost or amortized cost, to be an other-than-temporary impairment of the investment and reduce the book value of the investment to its fair value. The perpetual securities we hold were largely issued by banks that are integral to the financial markets of the sovereign country of the issuer. As a result of the issuer's position within the economy of the sovereign country, our perpetual securities may be subject to a higher risk of nationalization of their issuers in connection with capital injections from an issuer's sovereign government. We cannot be assured that such capital support will extend to all levels of an issuer's capital structure. In addition, certain governments or regulators may consider imposing interest and principal payment restrictions on issuers of hybrid securities to preserve cash and preserve the issuer's capital. Beyond the cash flow impact that additional deferrals would have on our portfolio, such deferrals could result in ratings downgrades of the affected securities, which in turn could result in a reduction of fair value of the securities and increase our regulatory capital requirements. We consider these factors in our credit review process. When determining our intention to sell a security prior to recovery of its fair value to amortized cost, we evaluate facts and circumstances such as, but not limited to, future cash flow needs, decisions to reposition our security portfolio, and risk profile of individual investment holdings. We perform ongoing analyses of our liquidity needs, which includes cash flow testing of our policy liabilities, debt maturities, projected dividend payments and other cash flow and liquidity needs. Our cash flow testing includes extensive duration analysis of our investment portfolio and policy liabilities. Based on our analyses, we have concluded that we have sufficient excess cash flows to meet our liquidity needs without selling any of our investments prior to their maturity. Our investments in perpetual securities that are rated below investment grade and equity securities are evaluated for other-than-temporary impairment under our equity impairment model. Our equity impairment model focuses on the severity of a security’s decline in fair value coupled with the length of time the fair value of the security has been below cost or amortized cost and the financial condition and near-term prospects of the issuer. For equity securities, we also verify our intent to hold the securities until they recover in value. The fair value of our investments in equity securities may decline for various reasons, such as general market conditions which reflect prospects for the economy as a whole, or due to specific information pertaining to an industry or an individual company. For those equity securities evaluated for impairment under the equity impairment model that are in an unrealized loss position, if we believe the security will not recover in price within an acceptable period of time, or we do not have the intent to hold until recovery, we will record an other-than-temporary impairment of the investment and reduce the cost of the investment to its fair value on that date. The following table details our pretax other-than-temporary impairment losses by investment category that resulted from our impairment evaluation process. Three Months Ended Six Months Ended (In millions) 2016 2015 2016 2015 Perpetual securities $ 0 $ 0 $ 2 $ 0 Corporate bonds 9 0 21 2 Bank/financial institution bonds 0 0 0 4 Equity securities 24 0 24 0 Total other-than-temporary impairment losses realized (1) $ 33 $ 0 $ 47 $ 6 (1) Includes $33 and an immaterial amount for the three -month periods and $47 and $6 for the six -month periods ended June 30, 2016 and 2015 , respectively, from change in intent to sell securities or change in intent to hold securities until recovery Unrealized Investment Gains and Losses Effect on Shareholders’ Equity The net effect on shareholders’ equity of unrealized gains and losses from investment securities was as follows: (In millions) June 30, 2016 December 31, Unrealized gains (losses) on securities available for sale $ 10,155 $ 4,831 Deferred income taxes (3,714 ) (1,845 ) Shareholders’ equity, unrealized gains (losses) on investment securities $ 6,441 $ 2,986 Gross Unrealized Loss Aging The following tables show the fair values and gross unrealized losses of our available-for-sale and held-to-maturity investments that were in an unrealized loss position, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position. June 30, 2016 Total Less than 12 months 12 months or longer (In millions) Fair Unrealized Fair Unrealized Fair Unrealized Fixed Maturities: Municipalities: Dollar-denominated $ 46 $ 7 $ 0 $ 0 $ 46 $ 7 Public utilities: Dollar-denominated 1,216 76 283 12 933 64 Yen-denominated 823 23 182 13 641 10 Sovereign and supranational: Yen-denominated 236 7 0 0 236 7 Banks/financial institutions: Dollar-denominated 148 16 78 6 70 10 Yen-denominated 1,428 151 240 3 1,188 148 Other corporate: Dollar-denominated 8,556 784 3,203 255 5,353 529 Yen-denominated 970 63 327 18 643 45 Total fixed maturities 13,423 1,127 4,313 307 9,110 820 Perpetual securities: Yen-denominated 989 199 500 42 489 157 Total perpetual securities 989 199 500 42 489 157 Equity securities: Dollar-denominated 268 18 268 18 0 0 Yen-denominated 411 76 411 76 0 0 Total equity securities 679 94 679 94 0 0 Total $ 15,091 $ 1,420 $ 5,492 $ 443 $ 9,599 $ 977 December 31, 2015 Total Less than 12 months 12 months or longer (In millions) Fair Unrealized Fair Unrealized Fair Unrealized Fixed Maturities: Municipalities: Dollar-denominated $ 80 $ 6 $ 80 $ 6 $ 0 $ 0 Public utilities: Dollar-denominated 2,127 221 1,689 132 438 89 Yen-denominated 1,487 104 1,062 73 425 31 Sovereign and supranational: Yen-denominated 580 26 385 13 195 13 Banks/financial institutions: Dollar-denominated 366 21 348 11 18 10 Yen-denominated 2,350 158 1,147 14 1,203 144 Other corporate: Dollar-denominated 13,430 1,302 11,068 770 2,362 532 Yen-denominated 1,151 77 343 5 808 72 Total fixed maturities 21,571 1,915 16,122 1,024 5,449 891 Perpetual securities: Dollar-denominated 6 1 0 0 6 1 Yen-denominated 645 93 216 12 429 81 Total perpetual securities 651 94 216 12 435 82 Equity securities: Yen-denominated 191 4 191 4 0 0 Total equity securities 191 4 191 4 0 0 Total $ 22,413 $ 2,013 $ 16,529 $ 1,040 $ 5,884 $ 973 Analysis of Securities in Unrealized Loss Positions The unrealized losses on our fixed maturity or perpetual securities investments have been primarily related to general market changes in interest rates, foreign exchange rates, and/or the levels of credit spreads rather than specific concerns with the issuer's ability to pay interest and repay principal. The unrealized losses on our investments in equity securities are primarily related to foreign exchange rates, general market conditions which reflect prospects for the economy as a whole, or specific information pertaining to an industry or an individual company. For any significant declines in fair value of our fixed income or perpetual securities, we perform a more focused review of the related issuers' credit profile. For corporate issuers, we evaluate their assets, business profile including industry dynamics and competitive positioning, financial statements and other available financial data. For non-corporate issuers, we analyze all sources of credit support, including issuer-specific factors. We utilize information available in the public domain and, for certain private placement issuers, from consultations with the issuers directly. We also consider ratings from Nationally Recognized Statistical Rating Organizations (NRSROs), as well as the specific characteristics of the security we own including seniority in the issuer's capital structure, covenant predictions, or other relevant features. From these reviews, we evaluate the issuers' continued ability to service our investment through payment of interest and principal. For any significant declines in fair value of our equity securities, we review the severity of the security’s decline in fair value coupled with the length of time the fair value of the security has been below cost. We also perform a more focused review of the financial condition and near-term prospects of the issuer as well as general market conditions reflecting the prospects for the economy as a whole, and determine whether we have the intent to hold the securities until they recover in value. The following table provides more information on our unrealized loss position on fixed maturities, perpetual securities and equity securities. June 30, 2016 December 31, 2015 (In millions) Investments in an Unrealized Loss Position Gross Gross Investments in an Unrealized Loss Position Gross Gross Fixed Maturities: Public utilities 13 % 7 % 88 % 16 % 16 % 93 % Sovereign and 2 1 100 3 1 100 Banks/financial 11 12 36 12 9 59 Other corporate 63 59 47 66 69 86 Total fixed 89 79 97 95 Perpetual securities 7 14 100 3 5 100 Equity securities 4 7 0 0 Total 100 % 100 % 100 % 100 % The decrease in the percentage of gross unrealized losses that are investment grade for the banks and financial institutions sector for the period ending June 30, 2016 was due to the redemption of an investment-grade security that contributed to a large portion of investment-grade unrealized losses at December 31, 2015. The decrease in the percentage of gross unrealized loss for the other corporate sector for the period ending June 30, 2016 was due to the increase in unrealized losses of dollar-denominated below-investment-grade securities mainly attributable to the strengthening of the yen/dollar exchange rate. Assuming no credit-related factors develop, unrealized gains and losses on fixed maturities and perpetual securities are expected to diminish as investments near maturity. Based on our credit analysis, we believe that the issuers of our fixed maturity and perpetual security investments in the sectors shown in the table above have the ability to service their obligations to us. Variable Interest Entities (VIEs) As a condition of our involvement or investment in a VIE, we enter into certain protective rights and covenants that preclude changes in the structure of the VIE that would alter the creditworthiness of our investment or our beneficial interest in the VIE. For those VIEs in which we are not the arranger, our involvement is passive in nature. We are not, nor have we been, required to purchase any securities issued in the future by these VIEs. Our ownership interest in VIEs is limited to holding the obligations issued by them. We have no direct or contingent obligations to fund the limited activities of these VIEs, nor do we have any direct or indirect financial guarantees related to the limited activities of these VIEs. We have not provided any assistance or any other type of financing support to any of the VIEs we invest in, nor do we have any intention to do so in the future. For those VIEs in which we hold debt obligations, the weighted-average lives of our notes are very similar to the underlying collateral held by these VIEs where applicable. We also utilize unit trust structures in our Aflac Japan segment to invest in various asset classes. As the arranger and sole investor of these VIEs, we are required to consolidate these entities under U.S. GAAP. Our risk of loss related to our interests in any of our VIEs is limited to the carrying value of the related investments held in the VIE. VIEs - Consolidated The following table presents the cost or amortized cost, fair value and balance sheet caption in which the assets and liabilities of consolidated VIEs are reported. Investments in Consolidated Variable Interest Entities June 30, 2016 December 31, 2015 (In millions) Cost or Amortized Fair Cost or Amortized Fair Assets: Fixed maturities, available for sale $ 4,878 $ 5,493 $ 3,739 $ 4,554 Perpetual securities, available for sale 267 197 255 228 Equity securities 1,018 941 363 363 Other investments 165 169 0 0 Other assets 177 177 102 102 Total assets of consolidated VIEs $ 6,505 $ 6,977 $ 4,459 $ 5,247 Liabilities: Other liabilities $ 117 $ 117 $ 293 $ 293 Total liabilities of consolidated VIEs $ 117 $ 117 $ 293 $ 293 We are substantively the only investor in the consolidated VIEs listed in the table above. As the sole investor in these VIEs, we have the power to direct the activities of a variable interest entity that most significantly impact the entity's economic performance and are therefore considered to be the primary beneficiary of the VIEs that we consolidate. We also participate in substantially all of the variability created by these VIEs. The activities of these VIEs are limited to holding debt, equity, and perpetual securities and foreign currency, and/or credit default swaps (CDS), as appropriate, and utilizing the cash flows from these securities to service our investment. Neither we nor any of our creditors are able to obtain the underlying collateral of the VIEs unless there is an event of default or other specified event. For those VIEs that contain a swap, we are not a direct counterparty to the swap contracts and have no control over them. Our loss exposure to these VIEs is limited to our original investment. Our consolidated VIEs do not rely on outside or ongoing sources of funding to support their activities beyond the underlying collateral and swap contracts, if applicable. With the exception of our investment in senior secured bank loans (bank loans), commercial mortgage loans, and certain equity securities through unit trust structures, the underlying collateral assets and funding of our consolidated VIEs are generally static in nature and the underlying collateral and the reference corporate entities covered by any CDS contracts were all investment grade at the time of issuance. We invest in bank loans, yen-denominated public equities, dollar-denominated public equities, and commercial mortgage loans through unit trust structures in which we are the only investor, requiring us to consolidate these trusts under U.S. GAAP. The bank loans are classified as available-for-sale fixed-maturity securities in the financial statements. As of June 30, 2016 , the amortized cost and fair value of our bank loan investments was $2.1 billion and $1.9 billion , respectively, compared with an amortized cost and fair value of $1.4 billion as of December 31, 2015. The yen-denominated and dollar-denominated equities are classified as available-for-sale in the financial statements. As of June 30, 2016 , the amortized cost and fair value of these equities was $1.0 billion and $941 million , respectively, compared with amortized cost and fair value of $363 million as of December 31, 2015 . The commercial mortgage loans, all of which were purchased in the first six months of 2016, are classified as held for investment and reflected in other investments on the consolidated balance sheets. As of June 30, 2016 , the amortized cost of these loans, net of loan loss reserves, was $165 million . We are exposed to credit losses within our consolidated collateralized debt obligation (CDO) that could result in principal losses to our investment. However, we have mitigated the risk of credit loss through the structure of the VIE, which contractually requires the subordinated tranches within the VIE to absorb the majority of the expected losses from the underlying credit default swaps. We currently own only senior mezzanine CDO tranches. Based on our statistical analysis models and the current subordination levels in our CDO, the VIE can sustain a reasonable number of defaults in the underlying reference entities in the CDS with no loss to our investment. VIEs-Not Consolidated The table below reflects the amortized cost, fair value and balance sheet caption in which our investment in VIEs not consolidated are reported. Investments in Variable Interest Entities Not Consolidated June 30, 2016 December 31, 2015 (In millions) Amortized Fair Amortized Fair Assets: Fixed maturities, available for sale $ 5,158 $ 5,656 $ 4,731 $ 5,093 Perpetual securities, available for sale 292 279 249 253 Fixed maturities, held to maturity 2,902 3,336 2,477 2,636 Total investments in VIEs not consolidated $ 8,352 $ 9,271 $ 7,457 $ 7,982 Prior-year amounts have been adjusted for the adoption of accounting guidance on January 1, 2016 related to consolidations. The VIEs that we are not required to consolidate are investments that are in the form of debt obligations from the VIEs that are irrevocably and unconditionally guaranteed by their corporate parents or sponsors. These VIEs are the primary financing vehicles used by their corporate sponsors to raise financing in the capital markets. The variable interests created by these VIEs are principally or solely a result of the debt instruments issued by them. We do not have the power to direct the activities that most significantly impact the entity's economic performance, nor do we have the obligation to absorb losses of the entity or the right to receive benefits from the entity. As such, we are not the primary beneficiary of these VIEs and are therefore not required to consolidate them. These VIE investments comprise securities from 143 separate issuers with an average credit rating of BBB . Loans and Loan Receivables We classify our loans and loan receivables as held-for-investment and include them in the other investments line on the consolidated balance sheets. We carry them on the balance sheet at amortized cost less an estimated allowance for loan losses. Our loan allowance for losses is established using both specific and general allowances. The specific allowance is used on an individual loan basis for those impaired loans where we expect to incur a loss. The general allowance is used for loans grouped by similar risk characteristics where a loan-specific or market-specific risk has not been identified, but for which we anticipate to incur a loss. Middle Market Loans As of June 30, 2016 , and December 31, 2015 , our investment in middle market loan receivables, net of loan loss reserves, was $227 million and $118 million , respectively, which included an unfunded amount of $31 million and $53 million , respectively, that was reflected in other liabilities on the consolidated balance sheets. As of June 30, 2016 and December 31, 2015 , we had no loans that were past due in regards to principal and/or interest payments. Additionally, we held no loans that were on nonaccrual status or considered impaired as of June 30, 2016 and December 31, 2015 . Our middle market loan allowance for losses was immaterial as of June 30, 2016 and December 31, 2015 . We had no troubled debt restructurings during the six months ended June 30, 2016 and 2015 . As of June 30, 2016 , we had commitments of $72 million to fund potential future loan originations related to this investment program. These commitments are contingent upon the availability of middle market loans that meet our underwriting criteria. Commercial Mortgage Loans In 2016 , we began funding investments in commercial mortgage loans. As of June 30, 2016 , the amortized cost of these investments, net of loan loss reserves, was $188 million , $165 million of which was held in unit trust structures as discussed above. We had no loans that were past due in regards to principal and/or interest payments, and we held no loans that were on nonaccrual status or considered impaired as of June 30, 2016 . Our commercial mortgage loan allowance for losses was immaterial as of June 30, 2016 . We had no troubled debt restructurings during the six months ended June 30, 2016 . As of June 30, 2016 , we had $177 million in outstanding commitments to fund commercial mortgage loans. These commitments are contingent on the final underwriting and due diligence to be performed. Securities Lending and Pledged Securities We lend fixed-maturity securities to financial institutions in short-term security-lending transactions. These short-term security-lending arrangements increase investment income with minimal risk. Our security lending policy requires that the fair value of the securities and/or unrestricted cash received as collateral be 102% or more of the fair value of the loaned securities. These securities continue to be carried as investment assets on our balance sheet during the terms of the loans and are not reported as sales. We receive cash or other securities as collateral for such loans. For loans involving unrestricted cash or securities as collateral, the collateral is reported as an asset with a corresponding liability for the return of the collateral. Details of our securities lending activities were as follow

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	6 Months Ended
	Jun. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS	DERIVATIVE INSTRUMENTS Our freestanding derivative financial instruments consist of: (1) foreign currency swaps and credit default swaps that are associated with investments in special-purpose entities, including VIEs where we are the primary beneficiary; (2) foreign currency forwards and options used in hedging foreign exchange risk on U.S. dollar-denominated securities in Aflac Japan's portfolio; (3) foreign currency forwards and options used to hedge foreign exchange risk from our net investment in Aflac Japan and economically hedge certain portions of forecasted cash flows denominated in yen; (4) swaps associated with our notes payable, consisting of cross-currency interest rate swaps, also referred to as foreign currency swaps, associated with certain senior notes and our subordinated debentures; and (5) options on interest rate swaps (or interest rate swaptions) and futures used to hedge interest rate risk for certain available-for-sale securities. We do not use derivative financial instruments for trading purposes, nor do we engage in leveraged derivative transactions. Some of our derivatives are designated as cash flow hedges, fair value hedges or net investment hedges; however, other derivatives do not qualify for hedge accounting or we elect not to designate them as an accounting hedge. We utilize a net investment hedge to mitigate foreign exchange exposure resulting from our net investment in Aflac Japan. In addition to designating derivatives as hedging instruments, we have designated our yen-denominated Samurai and Uridashi notes as nonderivative hedging instruments for this net investment hedge. Derivative Types We enter into foreign currency swaps pursuant to which we exchange an initial principal amount in one currency for an initial principal amount of another currency, with an agreement to re-exchange the currencies at a future date at an agreed upon exchange rate. There may also be periodic exchanges of payments at specified intervals based on the agreed upon rates and notional amounts. Foreign currency swaps are used primarily in the consolidated VIEs in our Aflac Japan portfolio to convert foreign-denominated cash flows to yen, the functional currency of Aflac Japan, in order to minimize cash flow fluctuations. We also use foreign currency swaps to economically convert certain of our dollar-denominated senior note and subordinated debenture principal and interest obligations into yen-denominated obligations. Foreign currency forwards and options are executed for the Aflac Japan segment in order to hedge the currency risk on the fair value of certain fixed-maturity U.S. dollar-denominated securities. The majority of these forwards and options have short-term maturities (12 months or less). In forward transactions, Aflac Japan agrees with another party to buy a fixed amount of yen and sell a corresponding amount of U.S. dollars at a specified future date. Aflac Japan also executes foreign currency option transactions in a collar strategy, where Aflac Japan agrees with another party to simultaneously purchase a fixed amount of U.S. dollar put options and sell U.S. dollar call options. The combination of these two actions results in no net premium being paid (i.e. a costless or zero-cost collar). The foreign currency forwards and options are used in fair value hedging relationships to mitigate the foreign exchange risk associated with dollar-denominated investments supporting yen-denominated liabilities. Foreign currency forwards and options are also used to hedge the currency risk associated with the net investment in Aflac Japan. In these forward transactions, Aflac agrees with another party to buy a fixed amount of U.S. dollars and sell a corresponding amount of yen at a specified future date. In the option transactions, we use a combination of foreign currency options to protect expected future cash flows by simultaneously purchasing yen put options (options that protect against a weakening yen) and selling yen call options (options that limit participation in a strengthening yen). The combination of these two actions results in no net premium being paid (i.e. a costless or zero-cost collar). The only CDS that we currently hold relates to components of an investment in a VIE and is used to assume credit risk related to an individual security. This CDS contract entitles the consolidated VIE to receive periodic fees in exchange for an obligation to compensate the derivative counterparties should the referenced security issuer experience a credit event, as defined in the contract. Interest rate swaps involve the periodic exchange of cash flows with other parties, at specified intervals, calculated using agreed upon rates or other financial variables and notional principal amounts. Typically, at the time a swap is entered into, the cash flow streams exchanged by the counterparties are equal in value. No cash or principal payments are exchanged at the inception of the contract. Interest rate swaps are primarily used to convert interest receipts on floating-rate fixed-maturity securities contracts to fixed rates. These derivatives are predominantly used to better match cash receipts from assets with cash disbursements required to fund liabilities. Interest rate swaptions are options on interest rate swaps. Interest rate collars are combinations of two swaption positions and are executed in order to hedge certain U.S. dollar-denominated available-for-sale securities that are held in the Aflac Japan segment. We use collars to protect against significant changes in the fair value associated with our U.S. dollar-denominated available-for-sale securities due to interest rates. In order to maximize the efficiency of the collars while minimizing cost, we set the strike price on each collar so that the premium paid for the ‘payer leg’ is offset by the premium received for having sold the ‘receiver leg’. Periodically, depending on general economic conditions, we may enter into other derivative transactions. Credit Risk Assumed through Derivatives For the foreign currency and credit default swaps associated with our VIE investments for which we are the primary beneficiary, we bear the risk of foreign exchange loss due to counterparty default even though we are not a direct counterparty to those contracts. We are a direct counterparty to the foreign currency swaps that we have entered into in connection with certain of our senior notes, subordinated debentures, and Samurai notes; foreign currency forwards; foreign currency options; and interest rate swaptions, and therefore we are exposed to credit risk in the event of nonperformance by the counterparties in those contracts. The risk of counterparty default for our VIE swaps, foreign currency swaps, certain foreign currency forwards, foreign currency options and interest rate swaptions is mitigated by collateral posting requirements that counterparties to those transactions must meet. As of June 30, 2016 , there were 15 counterparties to our derivative agreements, with five comprising 62% of the aggregate notional amount. The counterparties to these derivatives are financial institutions with the following credit ratings: June 30, 2016 December 31, 2015 (In millions) Notional Amount Asset Derivatives Liability Derivatives Notional Amount Asset Derivatives Liability Derivatives Counterparties' credit rating: AA $ 2,875 $ 173 $ (126 ) $ 2,187 $ 166 $ (35 ) A 19,131 1,691 (352 ) 19,940 510 (336 ) BBB 1,100 99 (64 ) 0 0 0 Total $ 23,106 $ 1,963 $ (542 ) $ 22,127 $ 676 $ (371 ) We engage in derivative transactions directly with unaffiliated third parties under International Swaps and Derivatives Association, Inc. (ISDA) agreements and other documentation. Most of the ISDA agreements also include Credit Support Annex (CSA) provisions, which generally provide for two-way collateral postings, in certain cases at the first dollar of exposure and in other cases once various rating and exposure threshold levels are triggered. We mitigate the risk that counterparties to transactions might be unable to fulfill their contractual obligations by monitoring counterparty credit exposure and collateral value while generally requiring that collateral be posted at the outset of the transaction or that additional collateral be posted upon the occurrence of certain events or circumstances. In addition, a significant portion of the derivative transactions have provisions that require collateral to be posted upon a downgrade of our long-term debt ratings or give the counterparty the right to terminate the transaction upon a downgrade of Aflac’s financial strength rating. The actual amount of collateral required to be posted to counterparties in the event of such downgrades, or the aggregate amount of payments that we could be required to make, depends on market conditions, the fair value of outstanding affected transactions, and other factors prevailing at and after the time of the downgrade. The fair value of the collateral posted by us to third parties for derivative transactions was $259 million at June 30, 2016 , which consisted entirely of cash, compared with $20 million at December 31, 2015 , which consisted of $17 million of pledged securities and $3 million of cash. This collateral can generally be repledged or resold by the counterparties. The aggregate fair value of all derivative instruments with credit-risk-related contingent features that were in a net liability position by counterparty was approximately $248 million and $26 million as of June 30, 2016 and December 31, 2015 , respectively. If the credit-risk-related contingent features underlying these agreements had been triggered on June 30, 2016 , we estimate that we would not be required to post any additional collateral to these derivative counterparties. Collateral obtained by us from third parties for derivative transactions was $1.7 billion and $412 million at June 30, 2016 and December 31, 2015 , respectively. We are generally allowed to sell or repledge collateral obtained from our derivative counterparties, although we do not typically exercise such rights. Accounting for Derivative Financial Instruments Freestanding derivatives are carried at estimated fair value in our consolidated balance sheets either as other assets or as other liabilities. See Note 5 for a discussion on how we determine the fair value of our derivatives. Accruals on derivatives are recorded in accrued investment income or within other liabilities in the consolidated balance sheets. If a derivative is not designated as an accounting hedge or its use in managing risk does not qualify for hedge accounting, changes in the estimated fair value of the derivative are generally reported within derivative and other gains(losses), which is a component of realized investment gains (losses). The fluctuations in estimated fair value of derivatives that have not been designated for hedge accounting can result in volatility in net earnings. Hedge Documentation and Effectiveness Testing To qualify for hedge accounting treatment, a derivative must be highly effective in mitigating the designated risk of the hedged item. At the inception of the hedging relationship for hedges we elect to designate for hedge accounting treatment, we formally document all relationships between hedging instruments and hedged items, as well as our risk-management objective and strategy for undertaking each hedge transaction. We document the designation of each hedge as either (i) a hedge of the variability of cash flows to be received or paid related to a recognized asset or liability or the hedge of a forecasted transaction ("cash flow hedge"); (ii) a hedge of the estimated fair value of a recognized asset or liability ("fair value hedge"); or (iii) a hedge of a net investment in a foreign operation. The documentation process includes linking derivatives and nonderivatives that are designated as hedges to specific assets or groups of assets or liabilities on the statement of financial position or to specific forecasted transactions and defining the effectiveness and ineffectiveness testing methods to be used. At the hedge's inception and on an ongoing quarterly basis, we also formally assess whether the derivatives that are used in hedging transactions have been, and are expected to continue to be, highly effective in offsetting their designated risk. Hedge effectiveness is assessed using qualitative and quantitative methods. For assessing hedge effectiveness of cash flow hedges, qualitative methods may include the comparison of critical terms of the derivative to the hedged item, and quantitative methods may include regression or other statistical analysis of changes in cash flows associated with the hedge relationship. Hedge ineffectiveness of the hedge relationships on our VIE cash flow hedges is measured each reporting period using the “Hypothetical Derivative Method.” For derivative instruments that are designated and qualify as cash flow hedges, the effective portion of the gain or loss on the derivative is reported as a component of other comprehensive income (loss) and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Gains and losses on the derivative representing hedge ineffectiveness are recognized in current earnings within derivative and other gains (losses). All components of each derivative's gain or loss are included in the assessment of hedge effectiveness. For assessing hedge effectiveness of fair value hedges, qualitative methods may include the comparison of critical terms of the derivative to the hedged item, and quantitative methods may include regression or other statistical analysis of changes in fair value associated with the hedge relationship. Hedge ineffectiveness of the hedge relationships is measured each reporting period using the dollar offset method. For derivative instruments that are designated and qualify as fair value hedges, changes in the estimated fair value of the derivative, including amounts measured as ineffectiveness, and changes in the estimated fair value of the hedged item related to the designated risk being hedged, are reported in current earnings within derivative and other gains (losses). When assessing the effectiveness of our fair value hedges, we exclude the changes in fair value related to the difference between the spot and the forward rate on our foreign currency forwards and the time value of options. For the hedge of our net investment in Aflac Japan, we have designated Parent Company yen-denominated liabilities as non-derivative hedging instruments and have designated certain foreign currency forwards and options as derivative hedging instruments. We make our net investment hedge designation at the beginning of each quarter. For assessing hedge effectiveness of net investment hedges, if the total of the designated Parent Company non-derivative and derivatives notional is equal to or less than our net investment in Aflac Japan, the hedge is deemed to be effective. If the hedge is effective, the related exchange effect on the yen-denominated liabilities is reported in the unrealized foreign currency component of other comprehensive income. For derivatives designated as net investment hedges, Aflac follows the forward-rate method. According to that method, all changes in fair value, including changes related to the forward-rate component of foreign currency forward contracts and the time value of foreign currency options, are reported in the unrealized foreign currency component of other comprehensive income. Should these designated net investment hedge positions exceed our net investment in Aflac Japan, the foreign exchange effect on the portion that exceeds our investment in Aflac Japan would be recognized in current earnings within derivative and other gains (losses). Discontinuance of Hedge Accounting We discontinue hedge accounting prospectively when (1) it is determined that the derivative is no longer highly effective in offsetting changes in the estimated cash flows or fair value of a hedged item; (2) the derivative is de-designated as a hedging instrument; or (3) the derivative expires or is sold, terminated or exercised. When hedge accounting is discontinued on a cash flow hedge or fair value hedge, the derivative is carried in the consolidated balance sheets at its estimated fair value, with changes in estimated fair value recognized in current period earnings. For discontinued cash flow hedges, including those where the derivative is sold, terminated or exercised, amounts previously deferred in other comprehensive income (loss) are reclassified into earnings when earnings are impacted by the cash flow of the hedged item. Derivative Balance Sheet Classification The tables below summarize the balance sheet classification of our derivative fair value amounts, as well as the gross asset and liability fair value amounts. The fair value amounts presented do not include income accruals. The notional amount of derivative contracts represents the basis upon which pay or receive amounts are calculated. Notional amounts are not reflective of credit risk. June 30, 2016 (In millions) Net Derivatives Asset Liability Hedge Designation/ Derivative Type Notional Fair Value Fair Value Fair Value Cash flow hedges: Foreign currency swaps $ 75 $ (1 ) $ 1 $ (2 ) Total cash flow hedges 75 (1 ) 1 (2 ) Fair value hedges: Foreign currency forwards 12,917 1,442 1,442 0 Foreign currency options 1,685 6 7 (1 ) Total fair value hedges 14,602 1,448 1,449 (1 ) Net investment hedge: Foreign currency forwards 846 (93 ) 0 (93 ) Foreign currency options 710 (48 ) 4 (52 ) Total net investment hedge 1,556 (141 ) 4 (145 ) Non-qualifying strategies: Foreign currency swaps 6,669 97 491 (394 ) Foreign currency forwards 107 17 17 0 Credit default swaps 97 1 1 0 Total non-qualifying strategies 6,873 115 509 (394 ) Total derivatives $ 23,106 $ 1,421 $ 1,963 $ (542 ) Balance Sheet Location Other assets $ 18,388 $ 1,963 $ 1,963 $ 0 Other liabilities 4,718 (542 ) 0 (542 ) Total derivatives $ 23,106 $ 1,421 $ 1,963 $ (542 ) December 31, 2015 (In millions) Net Derivatives Asset Liability Hedge Designation/ Derivative Type Notional Fair Value Fair Value Fair Value Cash flow hedges: Foreign currency swaps $ 75 $ (15 ) $ 0 $ (15 ) Total cash flow hedges 75 (15 ) 0 (15 ) Fair value hedges: Foreign currency forwards 13,080 45 88 (43 ) Foreign currency options 1,250 0 0 0 Total fair value hedges 14,330 45 88 (43 ) Net investment hedge: Foreign currency forwards 763 13 19 (6 ) Foreign currency options 266 (3 ) 5 (8 ) Total net investment hedge 1,029 10 24 (14 ) Non-qualifying strategies: Foreign currency swaps 6,599 264 563 (299 ) Foreign currency forwards 11 0 0 0 Credit default swaps 83 1 1 0 Total non-qualifying strategies 6,693 265 564 (299 ) Total derivatives $ 22,127 $ 305 $ 676 $ (371 ) Balance Sheet Location Other assets $ 11,413 $ 676 $ 676 $ 0 Other liabilities 10,714 (371 ) 0 (371 ) Total derivatives $ 22,127 $ 305 $ 676 $ (371 ) Cash Flow Hedges Certain of our consolidated VIEs have foreign currency swaps that qualify for hedge accounting treatment. For those that have qualified, we have designated the derivative as a hedge of the variability in cash flows of a forecasted transaction or of amounts to be received or paid related to a recognized asset (“cash flow” hedge). We expect to continue this hedging activity for a weighted-average period of approximately 10 years. The remaining derivatives in our consolidated VIEs that have not qualified for hedge accounting have been designated as held for other investment purposes (“non-qualifying strategies”). Fair Value Hedges We designate and account for certain foreign currency forwards and options as fair value hedges when they meet the requirements for hedge accounting. These foreign currency forwards and options hedge the foreign currency exposure of certain U.S. dollar-denominated fixed maturity securities within the investment portfolio of our Aflac Japan segment. We recognize gains and losses on these derivatives and the related hedged items in current earnings within derivative and other gains (losses). The change in the fair value of the foreign currency forwards related to the changes in the difference between the spot rate and the forward price is excluded from the assessment of hedge effectiveness. The change in fair value of the foreign currency option related to the time value of the option is excluded from the assessment of hedge effectiveness. We designate and account for interest rate swaptions as fair value hedges when they meet the requirements for hedge accounting. These interest rate swaptions hedge the interest rate exposure of certain U.S. dollar-denominated fixed maturity securities within the investment portfolio of our Aflac Japan segment. We recognize gains and losses on these derivatives and the related hedged items in current earnings within derivative and other gains (losses). The change in the fair value of the interest rate swaptions related to the time value of the option is excluded from the assessment of hedge effectiveness. The following table presents the gains and losses on derivatives and the related hedged items in fair value hedges. Fair Value Hedging Relationships (In millions) Hedging Derivatives Hedged Items Hedging Derivatives Hedged Items Total Gains (Losses) Gains (Losses) Gains (Losses) Ineffectiveness Three Months Ended June 30, 2016: Foreign currency Fixed-maturity securities $ 1,156 $ (48 ) $ 1,204 $ (1,236 ) $ (32 ) Foreign currency Fixed-maturity securities 7 7 0 0 0 Six Months Ended June 30, 2016: Foreign currency forwards Fixed-maturity securities $ 2,013 $ (92 ) $ 2,105 $ (2,118 ) $ (13 ) Foreign currency options Fixed-maturity securities 6 6 0 0 0 Three Months Ended June 30, 2015: Foreign currency Fixed-maturity securities $ (267 ) $ (17 ) $ (250 ) $ 244 $ (6 ) Foreign currency options Fixed-maturity securities (5 ) 1 (6 ) 6 0 Interest rate Fixed-maturity securities (4 ) 0 (4 ) 5 1 Six Months Ended June 30, 2015: Foreign currency forwards Fixed-maturity securities $ (230 ) $ (32 ) $ (198 ) $ 205 $ 7 Foreign currency options Fixed-maturity securities (3 ) 4 (7 ) 7 0 Interest rate Fixed-maturity securities (95 ) 19 (114 ) 99 (15 ) Subsequent to the end of the second quarter, in July 2016 we began using foreign exchange forwards to hedge the currency risk of our senior secured bank loan portfolio and U.S. dollar-denominated equity portfolio within the Aflac Japan segment. The derivative notional amounts associated with the hedges of our senior secured bank loan portfolio and our U.S. equity portfolio is approximately $1.9 billion and $457 million , respectively. Net Investment Hedge Our primary exposure to be hedged is our net investment in Aflac Japan, which is affected by changes in the yen/dollar exchange rate. To mitigate this exposure, we have designated the Parent Company's yen-denominated liabilities (Samurai and Uridashi notes - see Note 7) as non-derivative hedges and designated foreign currency forwards and options as derivative hedges of the foreign currency exposure of our net investment in Aflac Japan. We used foreign exchange forwards and options to hedge foreign exchange risk on 25.0 billion yen of profit repatriation received from Aflac Japan in February 2016. As of June 30, 2016 , we had entered into foreign exchange forwards and options as part of a hedge on 51.1 billion yen of profit repatriation received in July 2016 and 109.0 billion yen of future profit repatriation. Our net investment hedge was effective during the three- and six -month periods ended June 30, 2016 and 2015 , respectively. Non-qualifying Strategies For our derivative instruments in consolidated VIEs that do not qualify for hedge accounting treatment, all changes in their fair value are reported in current period earnings within derivative and other gains (losses). The amount of gain or loss recognized in earnings for our VIEs is attributable to the derivatives in those investment structures. While the change in value of the swaps is recorded through current period earnings, the change in value of the available-for-sale fixed-maturity or perpetual securities associated with these swaps is recorded through other comprehensive income. We have cross-currency interest rate swap agreements related to our $400 million senior notes due February 2017, $550 million senior notes due March 2020, $350 million senior notes due February 2022, $700 million senior notes due June 2023, $750 million senior notes due November 2024, $450 million senior notes due March 2025, and $500 million subordinated debentures due September 2052. Changes in the values of these swaps are recorded through current period earnings. For additional information regarding these swaps, see Note 7 in this report and Note 9 of the Notes to the Consolidated Financial Statements in our annual report to shareholders for the year ended December 31, 2015 . Impact of Derivatives and Hedging Instruments The following table summarizes the impact to realized investment gains (losses) and other comprehensive income (loss) from all derivatives and hedging instruments. Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 (In millions) Realized Investment Other (1) Realized Investment Other (1) Realized Investment Other (1) Realized Investment Other (1) Qualifying hedges: Cash flow hedges: Foreign currency swaps $ 1 $ 8 $ 0 $ 2 $ 1 $ 11 $ 0 $ (2 ) Total cash flow hedges 1 8 0 2 1 11 0 (2 ) Fair value hedges: Foreign currency forwards (2) (80 ) 0 (23 ) 0 (105 ) 0 (25 ) 0 Foreign currency options (2) 7 0 1 0 6 0 4 0 Interest rate swaptions (2) 0 0 1 0 0 0 4 0 Total fair value hedges (73 ) 0 (21 ) 0 (99 ) 0 (17 ) 0 Net investment hedge: Non- derivative hedging instruments 0 (22 ) 0 6 0 (37 ) 0 5 Foreign currency forwards 0 (83 ) 0 32 0 (133 ) 0 34 Foreign currency options 0 (15 ) 0 0 0 (31 ) 0 0 Total net investment hedge 0 (120 ) 0 38 0 (201 ) 0 39 Non-qualifying strategies: Foreign currency swaps (104 ) 0 55 0 (94 ) 0 (2 ) 0 Foreign currency forwards 10 0 (1 ) 0 21 0 (1 ) 0 Credit default swaps (1 ) 0 0 0 0 0 1 0 Interest rate swaps 0 0 2 0 0 0 5 0 Total non- qualifying strategies (95 ) 0 56 0 (73 ) 0 3 0 Total $ (167 ) $ (112 ) $ 35 $ 40 $ (171 ) $ (190 ) $ (14 ) $ 37 (1) Cash flow hedge items are recorded as unrealized gains (losses) on derivatives and net investment hedge items are recorded in the unrealized foreign currency translation gains (losses) line in the consolidated statement of comprehensive income (loss). (2) Impact shown net of effect of hedged items (see Fair Value Hedges section of this Note 4 for further detail) We reclassified a $1 million gain related to our designated cash flow hedges from accumulated other comprehensive income (loss) into earnings for the three- and six-month periods ended June 30, 2016, and reclassified an immaterial amount for the three- and six-month periods ended June 30, 2015, respectively. There was no gain or loss reclassified from accumulated other comprehensive income (loss) into earnings related to the net investment hedge for the three- and six-month periods ended June 30, 2016 and 2015 , respectively. As of June 30, 2016 , deferred gains and losses on derivative instruments recorded in accumulated other comprehensive income that are expected to be reclassified to earnings during the next twelve months were immaterial. Offsetting of Financial Instruments and Derivatives Some of the Company's derivative instruments are subject to enforceable master netting arrangements that provide for the net settlement of all derivative contracts between the Parent Company or Aflac and its respective counterparty in the event of default or upon the occurrence of certain termination events. Collateral support agreements with certain of the master netting arrangements provide that the Company will receive or pledge financial collateral in the event either minimum thresholds, or in certain cases ratings levels, have been reached. We have securities lending agreements with unaffiliated financial institutions that post collateral to us in return for the use of our fixed maturity securities (see Note 3). When we have entered into securities lending agreements with the same counterparty, the agreements generally provide for net settlement in the event of default by the counterparty. This right of set-off allows us to keep and apply collateral received if the counterparty failed to return the securities borrowed from us as contractually agreed. The tables below summarize our derivatives and securities lending transactions, and as reflected in the tables, in accordance with U.S. GAAP, our policy is to not offset these financial instruments in the Consolidated Balance Sheets. Offsetting of Financial Assets and Derivative Assets June 30, 2016 Gross Amounts Not Offset (In millions) Gross Amount of Recognized Assets Gross Amount Net Amount of Assets Presented in Balance Sheet Carrying Value of Financial Instruments Collateral Received Net Amount Derivative assets: Foreign currency swaps $ 492 $ 0 $ 492 $ 0 $ (187 ) $ 305 Foreign currency forwards 1,459 0 1,459 0 (1,554 ) (95 ) Foreign currency options 11 0 11 0 (6 ) 5 Credit default swaps 1 0 1 0 0 1 Total derivative assets, 1,963 0 1,963 0 (1,747 ) (1) 216 Securities lending and 801 0 801 0 (801 ) 0 Total $ 2,764 $ 0 $ 2,764 $ 0 $ (2,548 ) $ 216 (1) Consists of $1,509 of pledged securities and $238 of cash. December 31, 2015 Gross Amounts Not Offset (In millions) Gross Amount of Recognized Assets Gross Amount Offset in Balance Sheet Net Amount of Assets Presented in Balance Sheet Carrying Value of Financial Instruments Collateral Received Net Amount Derivative assets: Foreign currency swaps $ 563 $ 0 $ 563 $ 0 $ (313 ) $ 250 Foreign currency forwards 107 0 107 0 (96 ) 11 Foreign currency options 5 0 5 0 (3 ) 2 Credit default swaps 1 0 1 0 0 1 Total derivative assets, 676 0 676 0 (412 ) (1) 264 Securities lending and 921 0 921 0 (921 ) 0 Total $ 1,597 $ 0 $ 1,597 $ 0 $ (1,333 ) $ 264 (1) Consists of $86 of pledged securities and $326 of cash. Offsetting of Financial Liabilities and Derivative Liabilities June 30, 2016 Gross Amounts Not Offset (In millions) Gross Amount of Recognized Liabilities Gross Amount Offset in Balance Sheet Net Amount of Liabilities Presented in Balance Sheet Carrying Value of Financial Instruments Collateral Pledged Net Amount Derivative liabilities: Foreign currency swaps $ (396 ) $ 0 $ (396 ) $ 0 $ 111 $ (285 ) Foreign currency forwards (93 ) 0 (93 ) 0 95 2 Foreign currency options (53 ) 0 (53 ) 0 53 0 Total derivative liabilities, (542 ) 0 (542 ) 0 259 (1) (283 ) Securities lending and (826 ) 0 (826 ) 801 0 (25 ) Total $ (1,368 ) $ 0 $ (1,368 ) $ 801 $ 259 $ (308 ) (1) Consists entirely of cash. December 31, 2015 Gross Amounts Not Offset (In millions) Gross Amount of Recognized Liabilities Gross Amount Offset in Balance Sheet Net Amount of Liabilities Presented in Balance Sheet Carrying Value of Financial Instruments Collateral Pledged Net Amount Derivative liabilities: Foreign currency swaps $ (314 ) $ 0 $ (314 ) $ 0 $ 1 $ (313 ) Foreign currency forwards (49 ) 0 (49 ) 0 18 (31 ) Foreign currency options (8 ) 0 (8 ) 0 1 (7 ) Total derivative liabilities, (371 ) 0 (371 ) 0 20 (1) (351 ) Securities lending and (941 ) 0 (941 ) 921 0 (20 ) Total $ (1,312 ) $ 0 $ (1,312 ) $ 921 $ 20 $ (371 ) (1) Consists of $17 of pledged securities and $3 of cash. For additional information on our financial instruments, see the accompanying Notes 1, 3 and 5 and Notes 1, 3 and 5 of the Notes to the Consolidated Financial Statements in our annual report to shareholders for the year ended December 31, 2015 .

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Fair Value Hierarchy U.S. GAAP specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. These two types of inputs create three valuation hierarchy levels. Level 1 valuations reflect quoted market prices for identical assets or liabilities in active markets. Level 2 valuations reflect quoted market prices for similar assets or liabilities in an active market, quoted market prices for identical or similar assets or liabilities in non-active markets or model-derived valuations in which all significant valuation inputs are observable in active markets. Level 3 valuations reflect valuations in which one or more of the significant inputs are not observable in an active market. The following tables present the fair value hierarchy levels of the Company's assets and liabilities that are measured and carried at fair value on a recurring basis. June 30, 2016 (In millions) Quoted Prices in Significant Significant Total Assets: Securities available for sale, carried at Fixed maturities: Government and agencies $ 27,284 $ 859 $ 0 $ 28,143 Municipalities 0 1,360 0 1,360 Mortgage- and asset-backed securities 0 886 252 1,138 Public utilities 0 8,327 0 8,327 Sovereign and supranational 0 1,565 0 1,565 Banks/financial institutions 0 6,200 26 6,226 Other corporate 0 33,527 0 33,527 Total fixed maturities 27,284 52,724 278 80,286 Perpetual securities: Banks/financial institutions 0 1,598 0 1,598 Other corporate 0 234 0 234 Total perpetual securities 0 1,832 0 1,832 Equity securities 1,188 6 3 1,197 Other assets: Foreign currency swaps 0 316 176 492 Foreign currency forwards 0 1,459 0 1,459 Foreign currency options 0 11 0 11 Credit default swaps 0 0 1 1 Total other assets 0 1,786 177 1,963 Other investments 207 0 0 207 Cash and cash equivalents 3,700 0 0 3,700 Total assets $ 32,379 $ 56,348 $ 458 $ 89,185 Liabilities: Foreign currency swaps $ 0 $ 279 $ 117 $ 396 Foreign currency forwards 0 93 0 93 Foreign currency options 0 53 0 53 Total liabilities $ 0 $ 425 $ 117 $ 542 December 31, 2015 (In millions) Quoted Prices in Significant Significant Total Assets: Securities available for sale, carried at Fixed maturities: Government and agencies $ 18,669 $ 607 $ 0 $ 19,276 Municipalities 0 1,208 0 1,208 Mortgage- and asset-backed securities 0 362 220 582 Public utilities 0 7,479 0 7,479 Sovereign and supranational 0 1,407 0 1,407 Banks/financial institutions 0 5,993 26 6,019 Other corporate 0 29,378 0 29,378 Total fixed maturities 18,669 46,434 246 65,349 Perpetual securities: Banks/financial institutions 0 1,742 0 1,742 Other corporate 0 205 0 205 Total perpetual securities 0 1,947 0 1,947 Equity securities 489 6 3 498 Other assets: Foreign currency swaps 0 462 101 563 Foreign currency forwards 0 107 0 107 Foreign currency options 0 5 0 5 Credit default swaps 0 0 1 1 Total other assets 0 574 102 676 Other investments 176 0 0 176 Cash and cash equivalents 4,350 0 0 4,350 Total assets $ 23,684 $ 48,961 $ 351 $ 72,996 Liabilities: Foreign currency swaps $ 0 $ 21 $ 293 $ 314 Foreign currency forwards 0 49 0 49 Foreign currency options 0 8 0 8 Total liabilities $ 0 $ 78 $ 293 $ 371 The following tables present the carrying amount and fair value categorized by fair value hierarchy level for the Company's financial instruments that are not carried at fair value. June 30, 2016 (In millions) Carrying Quoted Prices in Significant Significant Total Assets: Securities held to maturity, Fixed maturities: Government and agencies $ 23,440 $ 32,076 $ 0 $ 0 $ 32,076 Municipalities 398 0 565 0 565 Mortgage and asset-backed 39 0 13 28 41 Public utilities 3,623 0 4,028 0 4,028 Sovereign and 2,994 0 3,391 0 3,391 Banks/financial institutions 4,659 0 4,920 0 4,920 Other corporate 3,193 0 3,775 0 3,775 Other investments 415 0 0 421 421 Total assets $ 38,761 $ 32,076 $ 16,692 $ 449 $ 49,217 Liabilities: Other policyholders’ funds $ 7,468 $ 0 $ 0 $ 7,327 $ 7,327 Notes payable 4,987 0 0 5,522 5,522 Total liabilities $ 12,455 $ 0 $ 0 $ 12,849 $ 12,849 December 31, 2015 (In millions) Carrying Quoted Prices in Significant Significant Total Assets: Securities held to maturity, Fixed maturities: Government and agencies $ 20,004 $ 23,391 $ 0 $ 0 $ 23,391 Municipalities 341 0 415 0 415 Mortgage and asset-backed 36 0 12 26 38 Public utilities 3,092 0 3,203 0 3,203 Sovereign and 2,555 0 2,711 0 2,711 Banks/financial institutions 4,431 0 4,546 0 4,546 Other corporate 3,000 0 3,216 0 3,216 Other investments 118 0 0 118 118 Total assets $ 33,577 $ 23,391 $ 14,103 $ 144 $ 37,638 Liabilities: Other policyholders’ funds $ 6,285 $ 0 $ 0 $ 6,160 $ 6,160 Notes payable 4,991 0 0 5,285 5,285 Total liabilities $ 11,276 $ 0 $ 0 $ 11,445 $ 11,445 Fair Value of Financial Instruments U.S. GAAP requires disclosure of the fair value of certain financial instruments including those that are not carried at fair value. The carrying amounts for cash and cash equivalents, other investments (excluding loan receivables), receivables, accrued investment income, accounts payable, cash collateral and payables for security transactions approximated their fair values due to the nature of these instruments. Liabilities for future policy benefits and unpaid policy claims are not financial instruments as defined by U.S. GAAP. Fixed maturities, perpetual securities, and equity securities We determine the fair values of our fixed maturity securities, perpetual securities, and public and privately issued equity securities using the following approaches or techniques: price quotes and valuations from third party pricing vendors (including quoted market prices readily available from public exchange markets) and non-binding price quotes we obtain from outside brokers. A third party pricing vendor has developed valuation models to determine fair values of privately issued securities to reflect the impact of the persistent economic environment and the changing regulatory framework. These models are discounted cash flow (DCF) valuation models, but also use information from related markets, specifically the CDS market to estimate expected cash flows. These models take into consideration any unique characteristics of the securities and make various adjustments to arrive at an appropriate issuer-specific loss adjusted credit curve. This credit curve is then used with the relevant recovery rates to estimate expected cash flows and modeling of additional features, including illiquidity adjustments, if necessary, to price the security by discounting those loss adjusted cash flows. In cases where a credit curve cannot be developed from the specific security features, the valuation methodology takes into consideration other market observable inputs, including: 1) the most appropriate comparable security(ies) of the issuer; 2) issuer-specific CDS spreads; 3) bonds or CDS spreads of comparable issuers with similar characteristics such as rating, geography, or sector; or 4) bond indices that are comparative in rating, industry, maturity and region. The pricing data and market quotes we obtain from outside sources, including third party pricing services, are reviewed internally for reasonableness. If a fair value appears unreasonable, we will re-examine the inputs and assess the reasonableness of the pricing data with the vendor. Additionally, we may compare the inputs to relevant market indices and other performance measurements. The output of this analysis is presented to the Company's Valuation and Classification Subcommittee (VCS). Based on the analysis provided to the VCS, the valuation is confirmed or may be revised if there is evidence of a more appropriate estimate of fair value based on available market data. We have performed verification of the inputs and calculations in any valuation models to confirm that the valuations represent reasonable estimates of fair value. The fixed maturities classified as Level 3 consist of securities for which there are limited or no observable valuation inputs. For Level 3 securities that are investment grade, we estimate the fair value of these securities by obtaining non-binding broker quotes from a limited number of brokers. These brokers base their quotes on a combination of their knowledge of the current pricing environment and market conditions. We consider these inputs to be unobservable. For Level 3 investments that are below-investment-grade securities, we consider a variety of significant valuation inputs in the valuation process, including forward exchange rates, yen swap rates, dollar swap rates, interest rate volatilities, credit spread data on specific issuers, assumed default and default recovery rates, and certain probability assumptions. In obtaining these valuation inputs, we have determined that certain pricing assumptions and data used by our pricing sources are difficult to validate or corroborate by the market and/or appear to be internally developed rather than observed in or corroborated by the market. The use of these unobservable valuation inputs causes more subjectivity in the valuation process for these securities. For the periods presented, we have not adjusted the quotes or prices we obtain from the pricing services and brokers we use. The following tables present the pricing sources for the fair values of our fixed maturities, perpetual securities, and equity securities. June 30, 2016 (In millions) Quoted Prices in Active Markets for Identical Assets Significant Observable Inputs Significant Unobservable Inputs Total Securities available for sale, carried at fair value: Fixed maturities: Government and agencies: Third party pricing vendor $ 27,284 $ 859 $ 0 $ 28,143 Total government and agencies 27,284 859 0 28,143 Municipalities: Third party pricing vendor 0 1,360 0 1,360 Total municipalities 0 1,360 0 1,360 Mortgage- and asset-backed securities: Third party pricing vendor 0 886 0 886 Broker/other 0 0 252 252 Total mortgage- and asset-backed securities 0 886 252 1,138 Public utilities: Third party pricing vendor 0 8,327 0 8,327 Total public utilities 0 8,327 0 8,327 Sovereign and supranational: Third party pricing vendor 0 1,565 0 1,565 Total sovereign and supranational 0 1,565 0 1,565 Banks/financial institutions: Third party pricing vendor 0 6,200 0 6,200 Broker/other 0 0 26 26 Total banks/financial institutions 0 6,200 26 6,226 Other corporate: Third party pricing vendor 0 33,527 0 33,527 Total other corporate 0 33,527 0 33,527 Total fixed maturities 27,284 52,724 278 80,286 Perpetual securities: Banks/financial institutions: Third party pricing vendor 0 1,598 0 1,598 Total banks/financial institutions 0 1,598 0 1,598 Other corporate: Third party pricing vendor 0 234 0 234 Total other corporate 0 234 0 234 Total perpetual securities 0 1,832 0 1,832 Equity securities: Third party pricing vendor 1,188 6 0 1,194 Broker/other 0 0 3 3 Total equity securities 1,188 6 3 1,197 Total securities available for sale $ 28,472 $ 54,562 $ 281 $ 83,315 June 30, 2016 (In millions) Quoted Prices in Active Markets for Identical Assets Significant Observable Inputs Significant Unobservable Inputs Total Securities held to maturity, carried at amortized cost: Fixed maturities: Government and agencies: Third party pricing vendor $ 32,076 $ 0 $ 0 $ 32,076 Total government and agencies 32,076 0 0 32,076 Municipalities: Third party pricing vendor 0 565 0 565 Total municipalities 0 565 0 565 Mortgage- and asset-backed securities: Third party pricing vendor 0 13 0 13 Broker/other 0 0 28 28 Total mortgage- and asset-backed securities 0 13 28 41 Public utilities: Third party pricing vendor 0 4,028 0 4,028 Total public utilities 0 4,028 0 4,028 Sovereign and supranational: Third party pricing vendor 0 3,391 0 3,391 Total sovereign and supranational 0 3,391 0 3,391 Banks/financial institutions: Third party pricing vendor 0 4,823 0 4,823 Broker/other 0 97 0 97 Total banks/financial institutions 0 4,920 0 4,920 Other corporate: Third party pricing vendor 0 3,775 0 3,775 Total other corporate 0 3,775 0 3,775 Total securities held to maturity $ 32,076 $ 16,692 $ 28 $ 48,796 December 31, 2015 (In millions) Quoted Prices in Active Markets Significant Observable Significant Unobservable Inputs Total Securities available for sale, carried at fair value: Fixed maturities: Government and agencies: Third party pricing vendor $ 18,669 $ 607 $ 0 $ 19,276 Total government and agencies 18,669 607 0 19,276 Municipalities: Third party pricing vendor 0 1,208 0 1,208 Total municipalities 0 1,208 0 1,208 Mortgage- and asset-backed securities: Third party pricing vendor 0 362 0 362 Broker/other 0 0 220 220 Total mortgage- and asset-backed securities 0 362 220 582 Public utilities: Third party pricing vendor 0 7,479 0 7,479 Total public utilities 0 7,479 0 7,479 Sovereign and supranational: Third party pricing vendor 0 1,407 0 1,407 Total sovereign and supranational 0 1,407 0 1,407 Banks/financial institutions: Third party pricing vendor 0 5,993 0 5,993 Broker/other 0 0 26 26 Total banks/financial institutions 0 5,993 26 6,019 Other corporate: Third party pricing vendor 0 29,378 0 29,378 Total other corporate 0 29,378 0 29,378 Total fixed maturities 18,669 46,434 246 65,349 Perpetual securities: Banks/financial institutions: Third party pricing vendor 0 1,742 0 1,742 Total banks/financial institutions 0 1,742 0 1,742 Other corporate: Third party pricing vendor 0 205 0 205 Total other corporate 0 205 0 205 Total perpetual securities 0 1,947 0 1,947 Equity securities: Third party pricing vendor 489 6 0 495 Broker/other 0 0 3 3 Total equity securities 489 6 3 498 Total securities available for sale $ 19,158 $ 48,387 $ 249 $ 67,794 December 31, 2015 (In millions) Quoted Prices in Active Markets Significant Observable Significant Unobservable Inputs Total Securities held to maturity, carried at amortized cost: Fixed maturities: Government and agencies: Third party pricing vendor $ 23,391 $ 0 $ 0 $ 23,391 Total government and agencies 23,391 0 0 23,391 Municipalities: Third party pricing vendor 0 415 0 415 Total municipalities 0 415 0 415 Mortgage- and asset-backed securities: Third party pricing vendor 0 12 0 12 Broker/other 0 0 26 26 Total mortgage- and asset-backed securities 0 12 26 38 Public utilities: Third party pricing vendor 0 3,203 0 3,203 Total public utilities 0 3,203 0 3,203 Sovereign and supranational: Third party pricing vendor 0 2,711 0 2,711 Total sovereign and supranational 0 2,711 0 2,711 Banks/financial institutions: Third party pricing vendor 0 4,546 0 4,546 Total banks/financial institutions 0 4,546 0 4,546 Other corporate: Third party pricing vendor 0 3,189 0 3,189 Broker/other 0 27 0 27 Total other corporate 0 3,216 0 3,216 Total securities held to maturity $ 23,391 $ 14,103 $ 26 $ 37,520 The following is a discussion of the determination of fair value of our remaining financial instruments. Loan Receivables Our loan receivables do not have readily determinable market prices and generally lack market liquidity. Fair values for loan receivables are determined based on the present value of expected future cash flows discounted at the applicable U.S. Treasury or LIBOR yield plus an appropriate spread that considers other risk factors, such as credit and liquidity risk. These spreads are provided by the applicable asset managers based on their knowledge of the current loan pricing environment and market conditions. The spreads are a significant component of the pricing inputs and are generally considered unobservable. Therefore, these investments have been assigned a Level 3 within the fair value hierarchy. Loan receivables are included in other investments on the consolidated balance sheets. Derivatives We use derivative instruments to manage the risk associated with certain assets. However, the derivative instrument may not be classified in the same fair value hierarchy level as the associated asset. Inputs used to value derivatives include, but are not limited to, interest rates, credit spreads, foreign currency forward and spot rates, and interest volatility. The fair values of the foreign currency forwards, options, and interest rate swaptions associated with certain fixed-maturity securities; the foreign currency forwards and options used to hedge foreign exchange risk from our net investment in Aflac Japan and economically hedge certain portions of forecasted cash flows denominated in yen; and the foreign currency swaps associated with certain senior notes and our subordinated debentures are based on the amounts we would expect to receive or pay. The determination of the fair value of these derivatives is based on observable market inputs, therefore they are classified as Level 2. For derivatives associated with VIEs where we are the primary beneficiary, we are not the direct counterparty to the swap contracts. As a result, the fair value measurements incorporate the credit risk of the collateral associated with the VIE. We receive valuations from a third party pricing vendor for these derivatives. Based on an analysis of these derivatives and a review of the methodology employed by the pricing vendor, we determined that due to the long duration of these swaps and the need to extrapolate from short-term observable data to derive and measure long-term inputs, certain inputs, assumptions and judgments are required to value future cash flows that cannot be corroborated by current inputs or current observable market data. As a result, the derivatives associated with our consolidated VIEs are classified as Level 3 of the fair value hierarchy. Other policyholders' funds The largest component of the other policyholders' funds liability is our annuity line of business in Aflac Japan. Our annuities have fixed benefits and premiums. For this product, we estimated the fair value to be equal to the cash surrender value. This is analogous to the value paid to policyholders on the valuation date if they were to surrender their policy. We periodically check the cash value against discounted cash flow projections for reasonableness. We consider our inputs for this valuation to be unobservable and have accordingly classified this valuation as Level 3. Notes payable The fair values of our publicly issued notes payable classified as Level 3 were obtained from a limited number of independent brokers. These brokers base their quotes on a combination of their knowledge of the current pricing environment and market conditions. We consider these inputs to be unobservable. The fair values of our yen-denominated loans approximate their carrying values. Transfers between Hierarchy Levels and Level 3 Rollforward There were no transfers between Level 1 and 2 for the three- and six -month periods ended June 30, 2016 and 2015 , respectively. The following tables present the changes in fair value of our available-for-sale investments and derivatives classified as Level 3. Three Months Ended Fixed Maturities Perpetual Equity Derivatives (1) (In millions) Mortgage- Banks/ Banks/ Foreign Credit Total Balance, beginning of period $ 237 $ 26 $ 0 $ 3 $ (63 ) $ 2 $ 205 Realized investment gains (losses) included in earnings 0 0 0 0 123 (1 ) 122 Unrealized gains (losses) included in other comprehensive income (loss) 26 0 0 0 (1 ) 0 25 Purchases, issuances, sales and settlements: Purchases 0 0 0 0 0 0 0 Issuances 0 0 0 0 0 0 0 Sales 0 0 0 0 0 0 0 Settlements (11 ) 0 0 0 0 0 (11 ) Transfers into Level 3 0 0 0 0 0 0 0 Transfers out of Level 3 0 0 0 0 0 0 0 Balance, end of period $ 252 $ 26 $ 0 $ 3 $ 59 $ 1 $ 341 Changes in unrealized gains (losses) relating $ 0 $ 0 $ 0 $ 0 $ 123 $ (1 ) $ 122 (1) Derivative assets and liabilities are presented net Three Months Ended Fixed Maturities Perpetual Equity Derivatives (1) (In millions) Mortgage- Banks/ Banks/ Foreign Credit Total Balance, beginning of period $ 221 $ 26 $ 150 $ 3 $ (283 ) $ 1 $ 118 Realized investment gains (losses) included in earnings 0 0 0 0 58 0 58 Unrealized gains (losses) included in other comprehensive income (loss) (6 ) (1 ) (3 ) 0 2 0 (8 ) Purchases, issuances, sales and settlements: Purchases 0 0 0 0 0 0 0 Issuances 0 0 0 0 0 0 0 Sales 0 0 (147 ) 0 0 0 (147 ) Settlements (1 ) 0 0 0 0 0 (1 ) Transfers into Level 3 0 0 0 0 0 0 0 Transfers out of Level 3 0 0 0 0 0 0 0 Balance, end of period $ 214 $ 25 $ 0 $ 3 $ (223 ) $ 1 $ 20 Changes in unrealized gains (losses) relating $ 0 $ 0 $ 0 $ 0 $ 58 $ 0 $ 58 (1) Derivative assets and liabilities are presented net Six Months Ended Fixed Maturities Perpetual Equity Derivatives (1) (In millions) Mortgage- Banks/ Banks/ Foreign Credit Total Balance, beginning of period $ 220 $ 26 $ 0 $ 3 $ (192 ) $ 1 $ 58 Realized investment gains (losses) included in earnings 0 0 0 0 268 0 268 Unrealized gains (losses) included in other comprehensive income (loss) 47 0 0 0 (16 ) 0 31 Purchases, issuances, sales and settlements: Purchases 0 0 0 0 0 0 0 Issuances 0 0 0 0 0 0 0 Sales 0 0 0 0 0 0 0 Settlements (15 ) 0 0 0 (1 ) 0 (16 ) Transfers into Level 3 0 0 0 0 0 0 0 Transfers out of Level 3 0 0 0 0 0 0 0 Balance, end of period $ 252 $ 26 $ 0 $ 3 $ 59 $ 1 $ 341 Changes in unrealized gains (losses) relating $ 0 $ 0 $ 0 $ 0 $ 268 $ 0 $ 268 (1) Derivative assets and liabilities are presented net Six Months Ended Fixed Maturities Perpetual Equity Derivatives (1) (In millions) Mortgage- Banks/ Banks/ Foreign Credit Total Balance, beginning of period $ 223 $ 26 $ 149 $ 3 $ (212 ) $ 0 $ 189 Realized investment gains (losses) included in earnings 0 0 0 0 (25 ) 1 (24 ) Unrealized gains (losses) included in other comprehensive income (loss) (7 ) (1 ) (2 ) 0 (2 ) 0 (12 ) Purchases, issuances, sales and settlements: Purchases 0 0 0 0 0 0 0 Issuances 0 0 0 0 0 0 0 Sales 0 0 (147 ) 0 0 0 (147 ) Settlements (2 ) 0 0 0 16 0 14 Transfers into Level 3 0 0 0 0 0 0 0 Transfers out of Level 3 0 0 0 0 0 0 0 Balance, end of period $ 214 $ 25 $ 0 $ 3 $ (223 ) $ 1 $ 20 Changes in unrealized gains (losses) relating $ 0 $ 0 $ 0 $ 0 $ (25 ) $ 1 $ (24 ) (1) Derivative assets and liabilities are presented net Level 3 Significant Unobservable Input Sensitivity The following tables summarize the significant unobservable inputs used in the valuation of our Level 3 available-for-sale investments and derivatives. Included in the tables are the inputs or range of possible inputs that have an effect on the overall valuation of the financial instruments. June 30, 2016 (In millions) Fair Value Valuation Technique(s) Unobservable Input Range Assets: Securities available for sale, carried at fair value: Fixed maturities: Mortgage- and asset-backed securities $ 252 Consensus pricing Offered quotes N/A (d) Banks/financial institutions 26 Consensus pricing Offered quotes N/A (d) Equity securities 3 Net asset value Offered quotes $1 - $793 ($9) Other assets: Foreign currency swaps 42 Discounted cash flow Interest rates (USD) 1.36% - 1.83% (a) Interest rates (JPY) (.04%) - .17% (b) CDS spreads 20 - 163 bps Foreign exchange rates 21.14% (c) 61 Discounted cash flow Interest rates (USD) 1.64% - 2.14% (a) Interest rates (JPY) .15% - .60% (b) CDS spreads 19 - 106 bps 73 Discounted cash flow Interest rates (USD) 1.64% - 2.14% (a) Interest rates (JPY) .15% - .60% (b) Foreign exchange rates 21.14% (c) Credit default swaps 1 Discounted cash flow Base correlation 64.18% - 69.87% (e) CDS spreads 84 bps Recovery rate 36.93% Total assets $ 458 (a) Inputs derived from U.S. long-term rates to accommodate long maturity nature of our swaps (b) Inputs derived from Japan long-term rates to accommodate long maturity nature of our swaps (c) Based on 10 year volatility of JPY/USD exchange rate (d) N/A represents securities where we receive unadjusted broker quotes and for which there is no transparency into the providers' valuation techniques or unobservable inputs. (e) Range of base correlation for our bespoke tranche for attachment and detachment points corresponding to market indices. June 30, 2016 (In millions) Fair Value Valuation Technique(s) Unobservable Input Range Liabilities: Foreign currency swaps $ 96 Discounted cash flow Interest rates (USD) 1.64% - 2.14% (a) Interest rates (JPY) .15% - .60% (b) CDS spreads 32 - 147 bps Foreign exchange rates 21.14% (c) 19 Discounted cash flow Interest rates (USD) 1.64% - 2.14% (a) Interest rates (JPY) .15% - .60% (b) CDS spreads 49 - 329 bps 2 Discounted cash flow Interest rates (USD) 1.64% - 2.14% (a) Interest rates (JPY) .15% - .60% (b) Foreign exchange rates 21.14% (c) Total liabilities $ 117 (a) Inputs derived from U.S. long-term rates to accommodate long maturity nature of our swaps (b) Inputs derived from Japan long-term rates to accommodate long maturity nature of our swaps (c) Based on 10 year volatility of JPY/USD exchange rate December 31, 2015 (In millions) Fair Value Valuation Technique(s) Unobservable Input Range Assets: Securities available for sale, carried at fair value: Fixed maturities: Mortgage- and asset-backed securities $ 220 Consensus pricing Offered quotes N/A (d) Banks/financial institutions 26 Consensus pricing Offered quotes N/A (d) Equity securities 3 Net asset value Offered quotes $1-$677 ($7) Other assets: Foreign currency swaps 7 Discounted cash flow Interest rates (USD) 2.20% - 2.62% (a) Interest rates (JPY) .42% - 1.22% (b) CDS spreads 32 - 147 bps Foreign exchange rates 20.05% (c) 94 Discounted cash flow Interest rates (USD) 2.20% - 2.62% (a) Interest rates (JPY) .42% - 1.22% (b) Foreign exchange rates 20.05% (c) Credit default swaps 1 Discounted cash flow Base correlation 53.26% - 58.40% (e) CDS spreads 123 bps Recovery rate 36.87% Total assets $ 351 (a) Inputs derived from U.S. long-term rates to accommodate long maturity nature of our swaps (b) Inputs derived from Japan long-term rates to accommodate long maturity nature of our swaps (c) Based on 10 year volatility of JPY/USD exchange rate (d) N/A represents securities where we receive unadjusted broker quotes and for which there is no transparency into the providers' valuation techniques or unobservable inputs. (e) Range of base correlation for our bespoke tranche for attachment and detachment points corresponding to market indices December 31, 2015 (In millions) Fair Value Valuation Technique(s) Unobservable Input Range Liabilities: Foreign currency swaps $ 158 Discounted cash flow Interest rates (USD) 2.20% - 2.62% (a) Interest rates (JPY) .42% - 1.22% (b) CDS spreads 32 - 147 bps Foreign exchange rates 20.05% (c) 120 Discounted cash flow Interest rates (USD) 2.20% - 2.62% (a) Interest rates (JPY) .42% - 1.22% (b) CDS spreads 35 - 213 bps 15 Discounted cash flow Interest rates (USD) 2.20% - 2.62% (a) Interest rates (JPY) .42% - 1.22% (b) Foreign exchange rates 20.05% (c) Total liabilities $ 293 (a) Inputs derived from U.S. long-term rates to accommodate long maturity nature of our swaps (b) Inputs derived from Japan long-term rates to accommodate long maturity nature of our swaps (c) Based on 10 year volatility of JPY/USD exchange rate The following is a discussion of the significant unobservable inputs or valuation techniques used in determining the fair value of securities and derivatives classified as Level 3. Net Asset Value We hold certain unlisted equity securities whose fair value is derived based on the financial statements published by the investee. These securities do not trade on an active market and the valuations derived are dependent on the availability of timely financial reporting of the investee. Net asset value is an unobservable input in the determination of fair value of equity securities. Offered Quotes In circumstances where our valuation model price is overridden because it implies a value that is not consistent with current market conditions, we will solicit bids from a limited number of brokers. We also receive unadjusted prices from brokers for our mortgage and asset-backed securities. These quotes are non-binding but are reflective of valuation best estimates at that particular point in time. Offered quotes are an unobservable input in the determination of fair value of mortgage- and asset-backed securities, certain banks/financial institutions, certain other corporate, and equity securities investments. Interest Rates, CDS Spreads, Foreign Exchange Rates The significant drivers of the valuation of the interest and foreign exchange swaps are interest rates, foreign exchange rates and CDS spreads. Our swaps have long maturities that increase the sensitivity of the swaps to interest rate fluctuations. Since most of our yen-denominated cross currency swaps are in a net liability position, an increase in interest rates will decrease the liabilities and increase the value of the swap. Foreign exchange swaps also have a lump-sum final settlement of foreign exchange principal receivables at the termination of the swap. An increase in yen interest rates will decrease the value of the final settlement foreign exchange receivables and decrease the value of the swap, and an increase in U.S. dollar interest rates will increase the swap value. A similar sensitivity pattern is observed for the foreign exchange rates. When the spot U.S. dollar/Japanese yen (USD/JPY) foreign exchange rate decreases and the swap is receiving a final exchange payment in JPY, the swap value will increase due to the appreciation of the JPY. Most of our swaps are designed to receive payments in JPY at the termination and will thus be impacted by the USD/JPY foreign exchange rate in this way. In cases where there is no final foreign exchange receivable in JPY and we are paying JPY as interest payments and receiving USD, a decrease in the foreign exchange rate will lead to a decrease in the swap value. The extinguisher feature in most of our swaps results in a cessation of cash flows and no further payments between the parties to the swap in the event of a default on the referenced or underlying collateral. To price this feature, we apply the survival probability of the referenced entity to the projected cash flows. The survival probability uses the CDS spreads and recovery rates to adjust the present value of the cash flows. For extinguisher swaps with positive values, an increase in CDS spreads decreases the likelihood of receiving the final exchange payments and reduces the value of the swap. Due to the long duration of these swaps and the need to extrapolate from short-term observable data to derive and measure long-term inputs, certain inputs, assumptions and judgments are required to value future cash flows that cannot be corroborated by current inputs or current observable market data. Interest rates, CDS spreads, and foreign exchange rates are unobservable inputs in the determination of fair value of foreign currency swaps. Base Correlations, CDS Spreads, Recovery Rates Our remaining CDO is a tranche on a basket of single-name credit default swaps. The risk in this synthetic CDO comes from the single-name CDS risk and the correlations between the single names. The valuation of synthetic CDOs is dependent on the calibration of market prices for interest rates, single name CDS default probabilities and base correlation using financial modeling tools. Since there is limited or no observable data available for this tranche, the base correlations must be obtained from commonly traded market tranches such as the CDX and iTraxx indices. From the historical prices of these indices, base correlations can be obtained to develop a pricing curve of CDOs with different seniorities. Since the reference entities of the market indices do not match those in the portfolio underlying the synthetic CDO to be valued, several processing steps are taken to map the CDO in our portfolio to the indices. With the base correlation determined and the appropriate spreads selected, a valuation is calculated. An increase in the CDS spreads in the underlying portfolio leads to a decrease in the value due to higher probability of defaults and losses. The impact on the valuation due to base correlation depends on a number of factors, including the riskiness between market tranches and the modeled tranche based on our portfolio and the equivalence between detachment points in these tranches. Generally speaking, an increase in base correlation will decrease the value of the senior tranches while increasing the value of junior tranches. This may result in a positive or negative value change. The CDO tranche in our portfolio is a senior mezzanine tranche and, due to the low level of credit support for this type of tranche, exhibits equity-like behavior. As a result, an increase in recovery rates tends to cause its value to decrease. Base correlations, CDS spreads, and recovery rates are unobservable inputs in the determinatio

REINSURANCE

REINSURANCE	6 Months Ended
	Jun. 30, 2016
Reinsurance Disclosures [Abstract]
REINSURANCE	REINSURANCE We enter into fixed quota-share coinsurance agreements with other companies in the normal course of business. For each of our reinsurance agreements, we determine whether the agreement provides indemnification against loss or liability relating to insurance risk in accordance with applicable accounting standards. Reinsurance premiums and benefits paid or provided are accounted for on bases consistent with those used in accounting for the original policies issued and the terms of the reinsurance contracts. Premiums and benefits are reported net of insurance ceded. We have recorded a deferred profit liability related to reinsurance transactions. The remaining deferred profit liability of $953 million , as of June 30, 2016 , included in future policy benefits in the consolidated balance sheet, is being amortized into income over the expected lives of the policies. We also have recorded a reinsurance recoverable for reinsurance transactions, which is included in other assets in the consolidated balance sheet and had a remaining balance of $959 million and $805 million as of June 30, 2016 and December 31, 2015 , respectively. The increase in the reinsurance recoverable balance was driven by two aggregating factors: yen strengthening and the growth in reserves related to the business that has been reinsured as the policies age. The spot yen/dollar exchange rate strengthened by approximately 17% and ceded reserves increased approximately 2% from December 31, 2015 to June 30, 2016 . The following table reconciles direct premium income and direct benefits and claims to net amounts after the effect of reinsurance. Three Months Ended Six Months Ended (In millions) 2016 2015 2016 2015 Direct premium income $ 4,915 $ 4,448 $ 9,605 $ 8,962 Ceded to other companies: Ceded Aflac Japan closed blocks (141 ) (132 ) (275 ) (222 ) Other (12 ) (8 ) (24 ) (18 ) Assumed from other companies: Retrocession activities 59 55 115 70 Other 2 1 4 4 Net premium income $ 4,823 $ 4,364 $ 9,425 $ 8,796 Direct benefits and claims $ 3,332 $ 3,013 $ 6,435 $ 6,038 Ceded benefits and change in reserves for future benefits: Ceded Aflac Japan closed blocks (129 ) (120 ) (250 ) (200 ) Other 8 10 12 3 Assumed from other companies: Retrocession activities 56 51 109 65 Other (13 ) (17 ) (27 ) (17 ) Benefits and claims, net $ 3,254 $ 2,937 $ 6,279 $ 5,889 These reinsurance transactions are indemnity reinsurance that do not relieve us from our obligations to policyholders. In the event that the reinsurer is unable to meet their obligations, we remain liable for the reinsured claims. As a part of our capital contingency plan, we entered into a committed reinsurance facility agreement on December 1, 2015 in the amount of approximately 110 billion yen. This reinsurance facility agreement is effective from December 1, 2015 until December 31, 2016. There are also additional commitment periods of a one-year duration each which are automatically extended unless notification is received from the reinsurer within 60 days prior to the expiration. The reinsurer can withdraw from the committed facility if Aflac‘s Standard and Poor's (S&P) rating drops below BBB-. As of June 30, 2016 , we have not executed a reinsurance treaty under this committed reinsurance facility.

NOTES PAYABLE

NOTES PAYABLE	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
NOTES PAYABLE	NOTES PAYABLE A summary of notes payable follows: (In millions) June 30, 2016 December 31, 2015 2.65% senior notes due February 2017 $ 650 (1) $ 651 (1) 2.40% senior notes due March 2020 547 (2) 546 (2) 4.00% senior notes due February 2022 348 348 3.625% senior notes due June 2023 696 696 3.625% senior notes due November 2024 744 744 3.25% senior notes due March 2025 445 445 6.90% senior notes due December 2039 394 (2) 393 (2) 6.45% senior notes due August 2040 445 445 5.50% subordinated debentures due September 2052 486 486 Yen-denominated Uridashi notes: 2.26% notes due September 2016 (principal amount 8 billion yen) 78 66 Yen-denominated Samurai notes: 1.84% notes due July 2016 (principal amount 15.8 billion yen) 154 (3) 131 Capitalized lease obligations payable through 2023 22 20 Total notes payable $ 5,009 $ 4,971 (1) Principal amount plus an issuance premium that is being amortized over the life of the notes (2) Principal amount net of an issuance discount that is being amortized over the life of the notes (3) Paid off in July 2016 at its specific maturity date Prior-year amounts have been adjusted for the adoption of accounting guidance on January 1, 2016 related to debt issuance costs. In March 2016, the Parent Company entered into a three -year senior unsecured revolving credit facility agreement with a group of financial institutions that provides for borrowings of up to 100.0 billion yen on a revolving basis. Borrowings bear interest at a rate per annum equal to the Tokyo interbank market rate (TIBOR) plus, at our option, either (a) the applicable TIBOR margin during the period from the closing date to the commitment termination date or (b) the applicable TIBOR margin during the term out period. The applicable margin ranges between .35% and .75% during the period from the closing date to the commitment termination date and .70% and 1.50% during the term out period, depending on the Parent Company’s debt ratings as of the date of determination. In addition, the Parent Company is required to pay a facility fee on the commitments ranging between .30% and .50% , also based on the Parent Company’s debt ratings as of the date of determination. Borrowings under this credit agreement may be used for general corporate purposes, including a capital contingency plan for the operations of the Parent Company, and will expire on the earlier of (a) March 31, 2019, or (b) the date the commitments are terminated pursuant to an event of default, as such term is defined in the credit agreement. The credit facility requires compliance with certain financial covenants on a quarterly basis. As of June 30, 2016 , we did not have any borrowings outstanding under our 100.0 billion yen revolving credit agreement. The Parent Company and Aflac have a 364 -day uncommitted bilateral line of credit with a third party that provides for borrowings in the amount of $100 million . Borrowings will bear interest at the rate quoted by the bank and agreed upon at the time of making such loan and will have a three-month maturity period. There are no related facility fees, upfront expenses or financial covenant requirements. Borrowings under this credit agreement may be used for general corporate purposes. Borrowings under the financing agreement will mature no later than three months after the last drawdown date of October 15, 2016. As of June 30, 2016 , we did not have any borrowings outstanding under our $100 million credit agreement. The Parent Company and Aflac have a five -year senior unsecured revolving credit facility agreement with a syndicate of financial institutions that provides for borrowings of up to 55.0 billion yen or the equivalent of yen in U.S. dollars on a revolving basis. This credit agreement provides for borrowings in Japanese yen or the equivalent of Japanese yen in U.S. dollars on a revolving basis. Borrowings bear interest at a rate per annum equal to, at our option, either (a) a eurocurrency rate determined by reference to the London Interbank Offered Rate (LIBOR) for the interest period relevant to such borrowing adjusted for certain additional costs or (b) a base rate determined by reference to the highest of (1) the federal funds effective rate plus ½ of 1%, (2) the rate of interest for such day announced by Mizuho Bank, Ltd. as its prime rate and (3) the eurocurrency rate for an interest period of one month plus 1.00%, in each case plus an applicable margin. The applicable margin ranges between .79% and 1.275% for eurocurrency rate borrowings and 0.0% and .275% for base rate borrowings, depending on the Parent Company’s debt ratings as of the date of determination. In addition, the Parent Company and Aflac are required to pay a facility fee on the commitments ranging between .085% and .225% , also based on the Parent Company’s debt ratings as of the date of determination. Borrowings under the amended and restated credit facility may be used for general corporate purposes, including a capital contingency plan for the operations of the Parent Company and Aflac. The amended and restated credit facility requires compliance with certain financial covenants on a quarterly basis and will expire on the earlier of (a) September 18, 2020, or (b) the date the commitments are terminated pursuant to an event of default, as such term is defined in the credit agreement. As of June 30, 2016 , we did not have any borrowings outstanding under our 55.0 billion yen revolving credit agreement. The Parent Company and Aflac have an uncommitted bilateral line of credit with a third party that provides for borrowings in the amount of $50 million . Borrowings will bear interest at the rate quoted by the bank and agreed upon at the time of making such loan and will have a three-month maturity period. There are no related facility fees, upfront expenses or financial covenant requirements. Borrowings under this credit agreement may be used for general corporate purposes. As of June 30, 2016 , we did not have any borrowings outstanding under our $50 million credit agreement. We were in compliance with all of the covenants of our notes payable and lines of credit at June 30, 2016 . No events of default or defaults occurred during the six -month period ended June 30, 2016 . For additional information, see Notes 4 and 9 of the Notes to the Consolidated Financial Statements in our annual report to shareholders for the year ended December 31, 2015 .

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	6 Months Ended
	Jun. 30, 2016
Stockholders' Equity Note [Abstract]
SHAREHOLDERS' EQUITY	SHAREHOLDERS’ EQUITY The following table is a reconciliation of the number of shares of the Company's common stock for the six -month periods ended June 30 . (In thousands of shares) 2016 2015 Common stock - issued: Balance, beginning of period 669,723 668,132 Exercise of stock options and issuance of restricted shares 1,041 934 Balance, end of period 670,764 669,066 Treasury stock: Balance, beginning of period 245,343 225,687 Purchases of treasury stock: Open market 16,026 13,534 Other 224 214 Dispositions of treasury stock: Shares issued to AFL Stock Plan (594 ) (611 ) Exercise of stock options (238 ) (265 ) Other (112 ) (110 ) Balance, end of period 260,649 238,449 Shares outstanding, end of period 410,115 430,617 Outstanding share-based awards are excluded from the calculation of weighted-average shares used in the computation of basic earnings per share (EPS). The following table presents the approximate number of share-based awards to purchase shares, on a weighted-average basis, that were considered to be anti-dilutive and were excluded from the calculation of diluted earnings per share for the following periods. Three Months Ended Six Months Ended (In thousands) 2016 2015 2016 2015 Anti-dilutive share-based awards 696 1,390 1,689 1,634 Share Repurchase Program During the first six months of 2016 , we repurchased 16.0 million shares of our common stock in the open market for $1.0 billion as part of our share repurchase program. During the first six months of 2015 , we repurchased 13.5 million shares of our common stock in the open market for $833 million as part of our share repurchase program. As of June 30, 2016 , a remaining balance of 32.3 million shares of our common stock was available for purchase under share repurchase authorizations by our board of directors. Reclassifications from Accumulated Other Comprehensive Income The tables below are reconciliations of accumulated other comprehensive income by component for the following periods. Changes in Accumulated Other Comprehensive Income Three Months Ended (In millions) Unrealized Foreign Unrealized Unrealized Pension Total Balance, beginning of period $ (1,584 ) $ 4,684 $ (24 ) $ (140 ) $ 2,936 Other comprehensive 737 1,750 5 (4 ) 2,488 Amounts reclassified from 0 7 0 1 8 Net current-period other 737 1,757 5 (3 ) 2,496 Balance, end of period $ (847 ) $ 6,441 $ (19 ) $ (143 ) $ 5,432 All amounts in the table above are net of tax. Three Months Ended (In millions) Unrealized Foreign Unrealized Unrealized Pension Liability Adjustment Total Balance, beginning of period $ (2,540 ) $ 5,026 $ (28 ) $ (126 ) $ 2,332 Other comprehensive (185 ) (1,598 ) 1 0 (1,782 ) Amounts reclassified from 0 (44 ) 0 1 (43 ) Net current-period other (185 ) (1,642 ) 1 1 (1,825 ) Balance, end of period $ (2,725 ) $ 3,384 $ (27 ) $ (125 ) $ 507 All amounts in the table above are net of tax. Six Months Ended (In millions) Unrealized Foreign Unrealized Unrealized Pension Liability Adjustment Total Balance, beginning of period $ (2,196 ) $ 2,986 $ (26 ) $ (139 ) $ 625 Other comprehensive 1,349 3,498 7 (5 ) 4,849 Amounts reclassified from 0 (43 ) 0 1 (42 ) Net current-period other 1,349 3,455 7 (4 ) 4,807 Balance, end of period $ (847 ) $ 6,441 $ (19 ) $ (143 ) $ 5,432 All amounts in the table above are net of tax. Six Months Ended (In millions) Unrealized Foreign Unrealized Unrealized Pension Liability Adjustment Total Balance, beginning of period $ (2,541 ) $ 4,672 $ (26 ) $ (126 ) $ 1,979 Other comprehensive (184 ) (1,211 ) (1 ) 0 (1,396 ) Amounts reclassified from 0 (77 ) 0 1 (76 ) Net current-period other (184 ) (1,288 ) (1 ) 1 (1,472 ) Balance, end of period $ (2,725 ) $ 3,384 $ (27 ) $ (125 ) $ 507 All amounts in the table above are net of tax. The tables below summarize the amounts reclassified from each component of accumulated other comprehensive income based on source for the following periods. Reclassifications Out of Accumulated Other Comprehensive Income (In millions) Three Months Ended Details about Accumulated Other Comprehensive Income Components Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Unrealized gains (losses) on available-for-sale $ 22 Sales and redemptions (33 ) Other-than-temporary impairment (11 ) Total before tax 4 Tax (expense) or benefit (1) $ (7 ) Net of tax Amortization of defined benefit pension items: Actuarial gains (losses) $ (5 ) Acquisition and operating expenses (2) Prior service (cost) credit 3 Acquisition and operating expenses (2) 1 Tax (expense) or benefit (1) $ (1 ) Net of tax Total reclassifications for the period $ (8 ) Net of tax (1) Based on 35% tax rate (2) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 10 for additional details). (In millions) Three Months Ended Details about Accumulated Other Comprehensive Income Components Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Unrealized gains (losses) on available-for-sale $ 68 Sales and redemptions 0 Other-than-temporary impairment 68 Total before tax (24 ) Tax (expense) or benefit (1) $ 44 Net of tax Amortization of defined benefit pension items: Actuarial gains (losses) $ (5 ) Acquisition and operating expenses (2) Prior service (cost) credit 4 Acquisition and operating expenses (2) 0 Tax (expense) or benefit (1) $ (1 ) Net of tax Total reclassifications for the period $ 43 Net of tax (1) Based on 35% tax rate (2) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 10 for additional details). (In millions) Six Months Ended Details about Accumulated Other Comprehensive Income Components Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Unrealized gains (losses) on available-for-sale $ 113 Sales and redemptions (47 ) Other-than-temporary impairment 66 Total before tax (23 ) Tax (expense) or benefit (1) $ 43 Net of tax Amortization of defined benefit pension items: Actuarial gains (losses) $ (8 ) Acquisition and operating expenses (2) Prior service (cost) credit 6 Acquisition and operating expenses (2) 1 Tax (expense) or benefit (1) $ (1 ) Net of tax Total reclassifications for the period $ 42 Net of tax (1) Based on 35% tax rate (2) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 10 for additional details). (In millions) Six Months Ended Details about Accumulated Other Comprehensive Income Components Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Unrealized gains (losses) on available-for-sale $ 124 Sales and redemptions (6 ) Other-than-temporary impairment 118 Total before tax (41 ) Tax (expense) or benefit (1) $ 77 Net of tax Amortization of defined benefit pension items: Actuarial gains (losses) $ (9 ) Acquisition and operating expenses (2) Prior service (cost) credit 8 Acquisition and operating expenses (2) 0 Tax (expense) or benefit (1) $ (1 ) Net of tax Total reclassifications for the period $ 76 Net of tax (1) Based on 35% tax rate (2) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 10 for additional details).

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
SHARE-BASED COMPENSATION	SHARE-BASED COMPENSATION As of June 30, 2016 , the Company had outstanding share-based awards under two long-term incentive compensation plans. The first plan, which expired in February 2007, is a stock option plan which allowed grants for incentive stock options (ISOs) to employees and non-qualifying stock options (NQSOs) to employees and non-employee directors. The options have a term of 10 years. The exercise price of options granted under this plan is equal to the fair market value of a share of the Company's common stock at the date of grant. Options granted before the plan's expiration date remain outstanding in accordance with their terms. The second long-term incentive compensation plan allows awards to Company employees for ISOs, NQSOs, restricted stock, restricted stock units, and stock appreciation rights. Non-employee directors are eligible for grants of NQSOs, restricted stock, and stock appreciation rights. The ISOs and NQSOs have a term of 10 years, and the share-based awards generally vest upon time-based conditions or time- and performance-based conditions. Time-based vesting generally occurs after three years . Performance-based vesting conditions generally include the attainment of goals related to Company financial performance. As of June 30, 2016 , approximately 8.9 million shares were available for future grants under this plan, and the only performance-based awards issued and outstanding were restricted stock awards. Share-based awards granted to U.S.-based grantees are settled with authorized but unissued Company stock, while those issued to Japan-based grantees are settled with treasury shares. The following table provides information on stock options outstanding and exercisable at June 30, 2016 . Stock Weighted-Average Aggregate Weighted-Average Outstanding 7,282 4.7 $ 146 $ 52.10 Exercisable 5,369 3.3 125 48.92 We received cash from the exercise of stock options in the amount of $33 million during the first six months of 2016 , compared with $31 million in the first six months of 2015 . The tax benefit realized as a result of stock option exercises and restricted stock releases was $18 million in the first six months of 2016 , compared with $19 million in the first six months of 2015 . As of June 30, 2016 , total compensation cost not yet recognized in our financial statements related to restricted stock awards was $44 million , of which $12 million ( 474 thousand shares) was related to restricted stock awards with a performance-based vesting condition. We expect to recognize these amounts over a weighted-average period of approximately 1.5 years. There are no other contractual terms covering restricted stock awards once vested. For additional information on our long-term share-based compensation plans and the types of share-based awards, see Note 12 of the Notes to the Consolidated Financial Statements included in our annual report to shareholders for the year ended December 31, 2015 .

BENEFIT PLANS

BENEFIT PLANS	6 Months Ended
	Jun. 30, 2016
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
BENEFIT PLANS	BENEFIT PLANS We have funded defined benefit plans in Japan and the United States, which cover substantially all of our full-time employees. Additionally, we maintain non-qualified, unfunded supplemental retirement plans that provide defined pension benefits in excess of limits imposed by federal tax law for certain Japanese, U.S. and former employees. Effective October 1, 2013, the U.S. tax-qualified defined benefit plan was frozen to new employees hired on or after October 1, 2013 and to employees rehired on or after October 1, 2013. U.S. employees who are not participants in the defined benefit plan receive a nonelective 401(k) employer contribution. Additionally, effective January 1, 2015, the U.S. non-qualified supplemental retirement plan was frozen to new participants. We provide certain health care benefits for eligible U.S. retired employees, their beneficiaries and covered dependents ("other postretirement benefits"). The health care plan is contributory and unfunded. Effective January 1, 2014, employees eligible for benefits included the following: (1) active employees whose age plus service, in years, equaled or exceeded 80 (rule of 80 ); (2) active employees who were age 55 or older and have met the 15 years of service requirement; (3) active employees who would meet the rule of 80 in the next five years ; (4) active employees who were age 55 or older and who would meet the 15 years of service requirement within the next five years ; and (5) current retirees. For certain employees and former employees, additional coverage is provided for all medical expenses for life. Pension and other postretirement benefit expenses, included in acquisition and operating expenses in the consolidated statement of earnings, included the following components: Three Months Ended June 30, Pension Benefits Other Japan U.S. Postretirement Benefits (In millions) 2016 2015 2016 2015 2016 2015 Components of net periodic Service cost $ 4 $ 3 $ 6 $ 6 $ 0 $ 0 Interest cost 1 1 8 8 1 0 Expected return on plan (1 ) (1 ) (5 ) (5 ) 0 0 Amortization of net actuarial 1 1 3 3 1 1 Amortization of prior service 0 0 0 0 (3 ) (4 ) Net periodic (benefit) cost $ 5 $ 4 $ 12 $ 12 $ (1 ) $ (3 ) Six Months Ended June 30, Pension Benefits Other Japan U.S. Postretirement Benefits (In millions) 2016 2015 2016 2015 2016 2015 Components of net periodic Service cost $ 8 $ 7 $ 12 $ 12 $ 0 $ 0 Interest cost 3 3 16 16 1 1 Expected return on plan (2 ) (2 ) (11 ) (11 ) 0 0 Amortization of net actuarial 1 1 6 7 1 1 Amortization of prior service 0 0 0 0 (6 ) (8 ) Net periodic (benefit) cost $ 10 $ 9 $ 23 $ 24 $ (4 ) $ (6 ) During the six months ended June 30, 2016 , Aflac Japan contributed approximately $11 million (using the weighted-average yen/dollar exchange rate for the six -month period ending June 30, 2016 ) to the Japanese funded defined benefit plan, and Aflac U.S. did not make a contribution to the U.S. funded defined benefit plan. For additional information regarding our Japanese and U.S. benefit plans, see Note 14 of the Notes to the Consolidated Financial Statements in our annual report to shareholders for the year ended December 31, 2015 .

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	COMMITMENTS AND CONTINGENT LIABILITIES We are a defendant in various lawsuits considered to be in the normal course of business. Members of our senior legal and financial management teams review litigation on a quarterly and annual basis. The final results of any litigation cannot be predicted with certainty. Although some of this litigation is pending in states where large punitive damages, bearing little relation to the actual damages sustained by plaintiffs, have been awarded in recent years, we believe the outcome of pending litigation will not have a material adverse effect on our financial position, results of operations, or cash flows. As of June 30, 2016 , we had commitments of $72 million to fund potential future loan originations related to our investment in middle market loans. These commitments are contingent upon the availability of middle market loans that meet our underwriting criteria. In addition, we had commitments of $177 million to fund potential future loan originations related to our investment in commercial mortgage loans. These commitments are contingent on the final underwriting and due diligence to be performed, and may or may not be funded. See Note 3 of the Notes to the Consolidated Financial Statements for more details on these investment programs.

SUMMARY OF SIGNIFICANT ACCOUN19

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	Description of Business Aflac Incorporated (the Parent Company) and its subsidiaries (collectively, the Company) primarily sell supplemental health and life insurance in the United States and Japan. The Company's insurance business is marketed and administered through American Family Life Assurance Company of Columbus (Aflac), which operates in the United States (Aflac U.S.) and as a branch in Japan (Aflac Japan). American Family Life Assurance Company of New York (Aflac New York) is a wholly owned subsidiary of Aflac. Most of Aflac's policies are individually underwritten and marketed through independent agents. Additionally, Aflac U.S. markets and administers group products through Continental American Insurance Company (CAIC), branded as Aflac Group Insurance. Our insurance operations in the United States and our branch in Japan service the two markets for our insurance business. Aflac Japan's revenues, including realized gains and losses on its investment portfolio, accounted for 75% and 70% of the Company's total revenues in the six -month periods ended June 30, 2016 , and 2015 , respectively. The percentage of the Company's total assets attributable to Aflac Japan was 85% at June 30, 2016 , compared with 83% at December 31, 2015 . Basis of Presentation We prepare our financial statements in accordance with U.S. generally accepted accounting principles (GAAP). These principles are established primarily by the Financial Accounting Standards Board (FASB). In these Notes to the Consolidated Financial Statements, references to U.S. GAAP issued by the FASB are derived from the FASB Accounting Standards Codification TM (ASC). The preparation of financial statements in conformity with U.S. GAAP requires us to make estimates when recording transactions resulting from business operations based on currently available information. The most significant items on our balance sheet that involve a greater degree of accounting estimates and actuarial determinations subject to changes in the future are the valuation of investments, deferred policy acquisition costs, liabilities for future policy benefits and unpaid policy claims, and income taxes. These accounting estimates and actuarial determinations are sensitive to market conditions, investment yields, mortality, morbidity, commission and other acquisition expenses, and terminations by policyholders. As additional information becomes available, or actual amounts are determinable, the recorded estimates will be revised and reflected in operating results. Although some variability is inherent in these estimates, we believe the amounts provided are adequate. The unaudited consolidated financial statements include the accounts of the Parent Company, its subsidiaries and those entities required to be consolidated under applicable accounting standards. All material intercompany accounts and transactions have been eliminated. In the opinion of management, the accompanying unaudited consolidated financial statements of the Company contain all adjustments, consisting of normal recurring accruals, which are necessary to fairly present the consolidated balance sheets as of June 30, 2016 and December 31, 2015 , the consolidated statements of earnings and comprehensive income (loss) for the three - and six -month periods ended June 30, 2016, and 2015, and the consolidated statements of shareholders' equity and cash flows for the six -month periods ended June 30, 2016 and 2015 . Results of operations for interim periods are not necessarily indicative of results for the entire year. As a result, these financial statements should be read in conjunction with the financial statements and notes thereto included in our annual report to shareholders for the year ended December 31, 2015 .
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements Business Combinations - Simplifying the Accounting for Measurement-Period Adjustments: In September 2015, the FASB issued guidance requiring that an acquirer recognize adjustments to estimated amounts that are identified during the measurement period in the reporting period in which the adjustments are determined. In the same period’s financial statements, the acquirer is required to record income effects of the adjustments as if the accounting had been completed at the acquisition date. The acquirer is also required to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the estimated amounts had been recognized as of the acquisition date. We adopted this guidance as of January 1, 2016. The adoption of this guidance did not have a significant impact on our financial position or results of operations. Fair Value Measurement - Disclosures for investments in certain entities that calculate net asset value per share (or its equivalent): In May 2015, the FASB issued updated guidance that removes the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value per share practical expedient. The amendments also remove the requirement to make certain disclosures for all investments that are eligible to be measured at fair value using the net asset value per share practical expedient. Rather, those disclosures are limited to investments for which the entity has elected to measure the fair value using that practical expedient. We adopted this guidance as of January 1, 2016. The adoption of this guidance did not have a significant impact on our financial position, results of operations, or disclosures. Interest - Imputation of Interest - Simplifying the presentation of debt issuance costs: In April 2015, the FASB issued updated guidance to simplify presentation of debt issuance costs. The updated guidance requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by this amendment. In August 2015, the FASB issued updated Securities and Exchange Commission (SEC) Staff guidance pertaining to the presentation of debt issuance costs related to line-of-credit arrangements. The guidance states that an entity may defer and present debt issuance costs as an asset, subsequently amortizing the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. We retrospectively adopted this guidance as of January 1, 2016. The retrospective adoption of this accounting standard resulted in a $40 million reduction to notes payable and other assets as of December 31, 2015, the earliest balance sheet date presented in the period of adoption. Consolidation - Amendments to the consolidation analysis: In February 2015, the FASB issued updated guidance that affects evaluation of whether limited partnerships and similar legal entities (limited liability corporations and securitization structures, etc.) are variable interest entities (VIEs), evaluation of whether fees paid to a decision maker or a service provider are a variable interest, and evaluation of the effect of fee arrangements and the effect of related parties on the determination of the primary beneficiary under the VIE model for consolidation. The updated guidance eliminates the presumption that a general partner should consolidate a limited partnership. Limited partnership and similar legal entities that provide partners with either substantive kick-out rights or substantive participating rights over the general partner will now be evaluated under the voting interest model rather than the VIE model for consolidation. In situations where no single party has a controlling financial interest in a VIE, the related party relationships under common control should be considered in their entirety in determining whether that common control group has a controlling financial interest in the VIE. We adopted this guidance as of January 1, 2016. The adoption of this guidance impacted our footnote disclosures, but did not have a significant impact on our financial position or results of operations. Derivatives and Hedging - Determining whether the host contract in a hybrid financial instrument issued in the form of a share is more akin to debt or equity: In November 2014, the FASB issued guidance to clarify how to evaluate the economic characteristics and risks of a host contract in a hybrid financial instrument that is issued in the form of a share. The guidance also clarifies that an entity should assess the substance of the relevant terms and features when considering how to weight those terms and features. We adopted this guidance as of January 1, 2016. The adoption of this guidance did not have a significant impact on our financial position or results of operations. Compensation - Stock Compensation - Accounting for share-based payments when the terms of an award provide that a performance target could be achieved after the requisite service period: In June 2014, the FASB issued this amendment that provides guidance on certain share-based payment awards that require a specific performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. A reporting entity should apply existing guidance to awards with performance conditions that affect vesting to account for such awards. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. The total amount of compensation cost recognized during and after the requisite service period should reflect the number of awards that are expected to vest and should be adjusted to reflect those awards that ultimately vest. We adopted this guidance as of January 1, 2016. The adoption of this guidance did not have a significant impact on our financial position or results of operations
Description of Accounting Pronouncements Pending Adoption	Accounting Pronouncements Pending Adoption Financial Instruments - Measurement of Credit Losses on Financial Instruments: In June 2016, the FASB issued amendments that require a financial asset (or a group of financial assets) measured on an amortized cost basis to be presented net of an allowance for credit losses in order to reflect the amount expected to be collected on the financial asset(s). The measurement of expected credit losses is amended by replacing the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform about a credit loss. Credit losses on available-for-sale debt securities will continue to be measured in a manner similar to current GAAP. However, the amendments require that credit losses be presented as an allowance rather than as a writedown. Other amendments include changes to the balance sheet presentation and interest income recognition of purchased financial assets with a more-than-insignificant amount of credit deterioration since origination. The amendments are effective for public companies for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Companies may early adopt this guidance as of the fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. We are evaluating the impact of adoption of this guidance on our financial position, results of operations and disclosures. Compensation - Stock Compensation - Improvements to Employee Share-Based Payment Accounting: In March 2016, the FASB issued amendments which simplify several aspects for share-based payment award transactions, including income tax consequences, classification of awards as either liability or equities, and classification on the statement of cash flows. The amendments are effective for public companies for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Early adoption is permitted for any interim or annual period. We are currently evaluating the impact of this guidance on our financial position, results of operations or disclosures. Investments - Equity Method and Joint Ventures - Simplifying the Transition to the Equity Method of Accounting: In March 2016, the FASB issued amendments which eliminate the requirement that when an investment qualifies for use of the equity method as a result of an increase in the level of ownership interest or degree of influence, an investor must adjust the investment, results of operations, and retained earnings retroactively on a step-by-step basis as if the equity method had been in effect during all previous periods that the investment had been held. Per the amendments, upon qualifying for the equity method of accounting, no retroactive adjustment of the investment is required. The amendments also require that an entity that has an available-for-sale equity security that becomes qualified for the equity method of accounting recognize through earnings the unrealized holding gain or loss in accumulated other comprehensive income at the date the investment becomes qualified for use of the equity method. The amendments are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. The amendments should be applied prospectively upon their effective date to increases in the level of ownership interest or degree of influence that result in the adoption of the equity method. Early adoption is permitted. The adoption of this guidance is not expected to have a significant impact on our financial position or results of operations. Derivatives and Hedging - Contingent Put and Call Options in Debt Instruments: In March 2016, the FASB issued amendments which clarify what steps are required when assessing whether the economic characteristics and risks of call (put) options are clearly and closely related to the economic characteristics and risks of their debt hosts, which is one of the criteria for bifurcating an embedded derivative. Consequently, when a call (put) option is contingently exercisable, an entity does not have to assess whether the event that triggers the ability to exercise a call (put) option is related to interest rates or credit risks. The amendments are effective for public business entities for fiscal years beginning after December 15, 2016 and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The adoption of this guidance is not expected to have a significant impact on our financial position or results of operations. Derivatives and Hedging - Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships: In March 2016, the FASB issued amendments which clarify that a change in the counterparty to a derivative instrument that has been designated as the hedging instrument does not, in and of itself, require dedesignation of that hedging relationship provided that all other hedge accounting criteria remain intact. The amendments are effective for public business entities for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The adoption of this guidance is not expected to have a significant impact on our financial position or results of operations. Leases: In January 2016, the FASB issued updated guidance for accounting for leases. Per the amendments, lessees will be required to recognize all leases on the balance sheet, with the exception of short-term leases. A lease liability will be recorded for the obligation of a lessee to make lease payments arising from a lease. A right-of-use asset, will be recorded which represents the lessee’s right to use, or to control the use of, a specified asset for a lease term. Under the new guidance, lessor accounting is largely unchanged. The amendments are effective for public companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. We are currently evaluating the impact of this guidance on our financial position, results of operations or disclosures. Financial Instruments - Recognition and Measurement of Financial Assets and Financial Liabilities: In January 2016, the FASB issued guidance to address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The main provisions require that equity investments be measured at fair value with changes recognized in net income; that changes in instrument-specific credit risk for financial liabilities that are measured under the fair value option be recognized in other comprehensive income; and that entities would make the assessment of the ability to realize a deferred tax asset (DTA) related to an available-for-sale (AFS) debt security in combination with the entity's other DTAs. The amendments are effective for public companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is not permitted, with the exception of the own credit provision if an entity has elected to measure a liability at fair value. We are evaluating whether the adoption of this guidance will have a significant impact on our financial position, results of operations or disclosures. Financial Services - Insurance - Disclosures about Short-Duration Contracts: In May 2015, the FASB issued updated guidance requiring enhanced disclosures by all insurance entities that issue short-duration contracts. The amendments require insurance entities to disclose for annual reporting periods information about the liability for unpaid claims and claim adjustment expenses. The amendments also require insurance entities to disclose information about significant changes in methodologies and assumptions used to calculate the liability for unpaid claims and claim adjustment expenses. In addition, the amendments require insurance entities to disclose for annual and interim reporting periods a roll-forward of the liability for unpaid claims and claim adjustment expenses. For health insurance claims, the amendments require the disclosure of the total of incurred-but-not-reported liabilities and expected development on reported claims included in the liability for unpaid claims and claim adjustment expenses. The amendments are effective for public business entities for annual periods beginning after December 15, 2015, and interim periods within annual periods beginning after December 15, 2016. Early application of the amendments is permitted. The adoption of this guidance will not have a significant impact on our financial position or results of operations. Presentation of Financial Statements - Going Concern - Disclosure of uncertainties about an entity’s ability to continue as a going concern: In August 2014, the FASB issued this amendment that provides U.S. GAAP guidance on management’s responsibility in evaluating whether there is substantial doubt about a company’s ability to continue as a going concern and about related footnote disclosures. For each reporting period, management will be required to evaluate whether there are conditions or events that raise substantial doubt about a company’s ability to continue as a going concern within one year from the date the financial statements are issued. The amendment is effective for annual periods ending after December 15, 2016, and interim periods within annual periods beginning after December 15, 2016. Early application is permitted for annual or interim reporting periods for which the financial statements have not previously been issued. The adoption of this guidance will not have a significant impact on our financial position or results of operations. Revenue from contracts with customers: In May 2014, the FASB issued updated guidance that affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards (e.g., insurance contracts or lease contracts). The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In August 2015, the FASB deferred the effective date for this standard to annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Other updates related to the new guidance, which are effective as of the same reporting period, pertain to identifying performance obligations and licensing, and principal versus agent considerations. Early application is not permitted. We are currently evaluating the impact of this guidance on our financial position, results of operations or disclosures.

BUSINESS SEGMENT INFORMATION (T

BUSINESS SEGMENT INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Reconciliation of Revenue from Segments to Consolidated	Three Months Ended Six Months Ended (In millions) 2016 2015 2016 2015 Revenues: Aflac Japan: Net earned premiums $ 3,402 $ 2,978 $ 6,581 $ 6,056 Net investment income 642 605 1,264 1,218 Other income 11 7 19 15 Total Aflac Japan 4,055 3,590 7,864 7,289 Aflac U.S.: Net earned premiums 1,362 1,331 2,729 2,670 Net investment income 176 168 350 334 Other income 0 2 3 5 Total Aflac U.S. 1,538 1,501 3,082 3,009 Other business segments 68 65 136 91 Total business segment revenues 5,661 5,156 11,082 10,389 Realized investment gains (losses) (1) (208 ) 104 (157 ) 100 Corporate 69 71 136 169 Intercompany eliminations (48 ) (50 ) (93 ) (133 ) Other non-operating income (loss) (37 ) 6 (80 ) (12 ) Total revenues $ 5,437 $ 5,287 $ 10,888 $ 10,513 (1) Excluding a gain of $21 and $23 for the three -month periods and $43 and $40 for the six -month periods ended June 30, 2016 , and 2015 , respectively, related to the interest rate component of the change in fair value of foreign currency swaps on notes payable which is classified as an operating gain when analyzing segment operations
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	Three Months Ended Six Months Ended (In millions) 2016 2015 2016 2015 Pretax earnings: Aflac Japan $ 839 $ 757 $ 1,677 $ 1,576 Aflac U.S. 291 293 623 578 Other business segments 5 3 8 4 Total business segment pretax operating earnings 1,135 1,053 2,308 2,158 Interest expense, noninsurance operations (30 ) (38 ) (59 ) (87 ) Corporate and eliminations (26 ) (20 ) (61 ) (41 ) Pretax operating earnings 1,079 995 2,188 2,030 Realized investment gains (losses) (1) (208 ) 104 (157 ) 100 Other non-operating income (loss) (37 ) (225 ) (80 ) (243 ) Total earnings before income taxes $ 834 $ 874 $ 1,951 $ 1,887 Income taxes applicable to pretax operating earnings $ 372 $ 344 $ 755 $ 701 Effect of foreign currency translation on operating earnings 36 (59 ) 49 (117 ) (1) Excluding a gain of $21 and $23 for the three -month periods and $43 and $40 for the six -month periods ended June 30, 2016 , and 2015 , respectively, related to the interest rate component of the change in fair value of foreign currency swaps on notes payable which is classified as an operating gain when analyzing segment operations
Reconciliation of Assets from Segment to Consolidated	Assets were as follows: (In millions) June 30, December 31, Assets: Aflac Japan $ 120,571 $ 97,646 Aflac U.S. 19,712 18,537 Other business segments 248 188 Total business segment assets 140,531 116,371 Corporate 28,189 23,375 Intercompany eliminations (27,433 ) (21,490 ) Total assets $ 141,287 $ 118,256 Prior-year amounts have been adjusted for the adoption of accounting guidance on January 1, 2016 related to debt issuance costs.

INVESTMENTS (Tables)

INVESTMENTS (Tables)	6 Months Ended
	Jun. 30, 2016
Available-for-sale Securities	December 31, 2015 (In millions) Cost or Gross Gross Fair Securities available for sale, carried at fair value: Fixed maturities: Yen-denominated: Japan government and agencies $ 17,293 $ 1,862 $ 0 $ 19,155 Municipalities 128 9 0 137 Mortgage- and asset-backed securities 322 33 0 355 Public utilities 1,400 210 10 1,600 Sovereign and supranational 791 180 0 971 Banks/financial institutions 2,321 325 105 2,541 Other corporate 3,337 448 33 3,752 Total yen-denominated 25,592 3,067 148 28,511 Dollar-denominated: U.S. government and agencies 110 11 0 121 Municipalities 926 151 6 1,071 Mortgage- and asset-backed securities 200 27 0 227 Public utilities 5,464 636 221 5,879 Sovereign and supranational 331 105 0 436 Banks/financial institutions 2,865 634 21 3,478 Other corporate 25,154 1,774 1,302 25,626 Total dollar-denominated 35,050 3,338 1,550 36,838 Total fixed maturities 60,642 6,405 1,698 65,349 Perpetual securities: Yen-denominated: Banks/financial institutions 1,581 143 93 1,631 Other corporate 183 22 0 205 Dollar-denominated: Banks/financial institutions 77 35 1 111 Total perpetual securities 1,841 200 94 1,947 Equity securities: Yen-denominated 472 19 4 487 Dollar-denominated 8 3 0 11 Total equity securities 480 22 4 498 Total securities available for sale $ 62,963 $ 6,627 $ 1,796 $ 67,794 The amortized cost for our investments in debt and perpetual securities, the cost for equity securities and the fair values of these investments are shown in the following tables. June 30, 2016 (In millions) Cost or Gross Gross Fair Securities available for sale, carried at fair value: Fixed maturities: Yen-denominated: Japan government and agencies $ 22,176 $ 5,828 $ 0 $ 28,004 Municipalities 200 60 0 260 Mortgage- and asset-backed securities 870 51 0 921 Public utilities 1,639 277 13 1,903 Sovereign and supranational 927 189 0 1,116 Banks/financial institutions 2,704 382 119 2,967 Other corporate 3,926 650 55 4,521 Total yen-denominated 32,442 7,437 187 39,692 Dollar-denominated: U.S. government and agencies 123 16 0 139 Municipalities 943 164 7 1,100 Mortgage- and asset-backed securities 199 18 0 217 Public utilities 5,724 776 76 6,424 Sovereign and supranational 352 97 0 449 Banks/financial institutions 2,742 533 16 3,259 Other corporate 27,474 2,316 784 29,006 Total dollar-denominated 37,557 3,920 883 40,594 Total fixed maturities 69,999 11,357 1,070 80,286 Perpetual securities: Yen-denominated: Banks/financial institutions 1,650 77 199 1,528 Other corporate 214 20 0 234 Dollar-denominated: Banks/financial institutions 52 18 0 70 Total perpetual securities 1,916 115 199 1,832 Equity securities: Yen-denominated 694 29 76 647 Dollar-denominated 551 17 18 550 Total equity securities 1,245 46 94 1,197 Total securities available for sale $ 73,160 $ 11,518 $ 1,363 $ 83,315
Held-to-maturity Securities	June 30, 2016 (In millions) Cost or Gross Gross Fair Securities held to maturity, carried at amortized cost: Fixed maturities: Yen-denominated: Japan government and agencies $ 23,440 $ 8,636 $ 0 $ 32,076 Municipalities 398 167 0 565 Mortgage- and asset-backed securities 39 2 0 41 Public utilities 3,623 415 10 4,028 Sovereign and supranational 2,994 404 7 3,391 Banks/financial institutions 4,659 293 32 4,920 Other corporate 3,193 590 8 3,775 Total yen-denominated 38,346 10,507 57 48,796 Total securities held to maturity $ 38,346 $ 10,507 $ 57 $ 48,796 December 31, 2015 (In millions) Cost or Gross Gross Fair Securities held to maturity, carried at amortized cost: Fixed maturities: Yen-denominated: Japan government and agencies $ 20,004 $ 3,387 $ 0 $ 23,391 Municipalities 341 74 0 415 Mortgage- and asset-backed securities 36 2 0 38 Public utilities 3,092 205 94 3,203 Sovereign and supranational 2,555 182 26 2,711 Banks/financial institutions 4,431 168 53 4,546 Other corporate 3,000 260 44 3,216 Total yen-denominated 33,459 4,278 217 37,520 Total securities held to maturity $ 33,459 $ 4,278 $ 217 $ 37,520
Investments Classified by Contractual Maturity Date	The contractual maturities of our investments in fixed maturities at June 30, 2016 , were as follows: Aflac Japan Aflac U.S. (In millions) Amortized Fair Amortized Fair Available for sale: Due in one year or less $ 305 $ 312 $ 60 $ 62 Due after one year through five years 3,882 3,972 722 789 Due after five years through 10 years 11,905 12,101 2,487 2,726 Due after 10 years 40,332 48,573 8,776 10,124 Mortgage- and asset-backed securities 926 988 34 41 Total fixed maturities available for sale $ 57,350 $ 65,946 $ 12,079 $ 13,742 Held to maturity: Due in one year or less $ 49 $ 49 $ 0 $ 0 Due after one year through five years 1,983 2,087 0 0 Due after five years through 10 years 2,084 2,283 0 0 Due after 10 years 34,191 44,336 0 0 Mortgage- and asset-backed securities 39 41 0 0 Total fixed maturities held to maturity $ 38,346 $ 48,796 $ 0 $ 0
Economic Maturities of Investments in Perpetual Securities	The economic maturities of our investments in perpetual securities, which were all reported as available for sale at June 30, 2016 , were as follows: Aflac Japan Aflac U.S. (In millions) Amortized Fair Amortized Fair Due in one year or less $ 221 $ 195 $ 0 $ 0 Due after one year through five years 306 316 0 0 Due after 10 years 1,350 1,269 39 52 Total perpetual securities available for sale $ 1,877 $ 1,780 $ 39 $ 52
Investment Exposures Exceeding Ten Percent Shareholders Equity	Investment exposures that individually exceeded 10% of shareholders' equity as of June 30, 2016 and December 31, 2015 were as follows: June 30, 2016 December 31, 2015 (In millions) Credit Amortized Fair Credit Amortized Fair Japan National Government (1) A $45,064 $59,305 A $36,859 $42,025 (1) Japan Government Bonds (JGBs) or JGB-backed securities
Gain (Loss) on Investments	Information regarding pretax realized gains and losses from investments is as follows: Three Months Ended Six Months Ended (In millions) 2016 2015 2016 2015 Realized investment gains (losses): Fixed maturities: Available for sale: Gross gains from sales $ 6 $ 55 $ 8 $ 104 Gross losses from sales (12 ) 0 (16 ) 0 Net gains (losses) from redemptions (5 ) 7 78 26 Other-than-temporary impairment losses (9 ) 0 (21 ) (6 ) Total fixed maturities (20 ) 62 49 124 Perpetual securities: Available for sale: Net gains (losses) from redemptions 30 30 40 30 Other-than-temporary impairment losses 0 0 (2 ) 0 Total perpetual securities 30 30 38 30 Equity securities: Gross gains from sales 2 0 5 0 Gross losses from sales (8 ) 0 (11 ) 0 Other-than-temporary impairment losses (24 ) 0 (24 ) 0 Total equity securities (30 ) 0 (30 ) 0 Derivatives and other: Derivative gains (losses) (167 ) 35 (171 ) (14 ) Total derivatives and other (167 ) 35 (171 ) (14 ) Total realized investment gains (losses) $ (187 ) $ 127 $ (114 ) $ 140
Other Than Temporary Impairment Losses on Investment Securities	The following table details our pretax other-than-temporary impairment losses by investment category that resulted from our impairment evaluation process. Three Months Ended Six Months Ended (In millions) 2016 2015 2016 2015 Perpetual securities $ 0 $ 0 $ 2 $ 0 Corporate bonds 9 0 21 2 Bank/financial institution bonds 0 0 0 4 Equity securities 24 0 24 0 Total other-than-temporary impairment losses realized (1) $ 33 $ 0 $ 47 $ 6 (1) Includes $33 and an immaterial amount for the three -month periods and $47 and $6 for the six -month periods ended June 30, 2016 and 2015 , respectively, from change in intent to sell securities or change in intent to hold securities until recovery
Net Effect on Shareholders' Equity of Unrealized Gains and Losses from Investment Securities	The net effect on shareholders’ equity of unrealized gains and losses from investment securities was as follows: (In millions) June 30, 2016 December 31, Unrealized gains (losses) on securities available for sale $ 10,155 $ 4,831 Deferred income taxes (3,714 ) (1,845 ) Shareholders’ equity, unrealized gains (losses) on investment securities $ 6,441 $ 2,986
Investments Gross Unrealized Loss Aging	The following tables show the fair values and gross unrealized losses of our available-for-sale and held-to-maturity investments that were in an unrealized loss position, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position. June 30, 2016 Total Less than 12 months 12 months or longer (In millions) Fair Unrealized Fair Unrealized Fair Unrealized Fixed Maturities: Municipalities: Dollar-denominated $ 46 $ 7 $ 0 $ 0 $ 46 $ 7 Public utilities: Dollar-denominated 1,216 76 283 12 933 64 Yen-denominated 823 23 182 13 641 10 Sovereign and supranational: Yen-denominated 236 7 0 0 236 7 Banks/financial institutions: Dollar-denominated 148 16 78 6 70 10 Yen-denominated 1,428 151 240 3 1,188 148 Other corporate: Dollar-denominated 8,556 784 3,203 255 5,353 529 Yen-denominated 970 63 327 18 643 45 Total fixed maturities 13,423 1,127 4,313 307 9,110 820 Perpetual securities: Yen-denominated 989 199 500 42 489 157 Total perpetual securities 989 199 500 42 489 157 Equity securities: Dollar-denominated 268 18 268 18 0 0 Yen-denominated 411 76 411 76 0 0 Total equity securities 679 94 679 94 0 0 Total $ 15,091 $ 1,420 $ 5,492 $ 443 $ 9,599 $ 977 December 31, 2015 Total Less than 12 months 12 months or longer (In millions) Fair Unrealized Fair Unrealized Fair Unrealized Fixed Maturities: Municipalities: Dollar-denominated $ 80 $ 6 $ 80 $ 6 $ 0 $ 0 Public utilities: Dollar-denominated 2,127 221 1,689 132 438 89 Yen-denominated 1,487 104 1,062 73 425 31 Sovereign and supranational: Yen-denominated 580 26 385 13 195 13 Banks/financial institutions: Dollar-denominated 366 21 348 11 18 10 Yen-denominated 2,350 158 1,147 14 1,203 144 Other corporate: Dollar-denominated 13,430 1,302 11,068 770 2,362 532 Yen-denominated 1,151 77 343 5 808 72 Total fixed maturities 21,571 1,915 16,122 1,024 5,449 891 Perpetual securities: Dollar-denominated 6 1 0 0 6 1 Yen-denominated 645 93 216 12 429 81 Total perpetual securities 651 94 216 12 435 82 Equity securities: Yen-denominated 191 4 191 4 0 0 Total equity securities 191 4 191 4 0 0 Total $ 22,413 $ 2,013 $ 16,529 $ 1,040 $ 5,884 $ 973
Investments in Unrealized Loss Position	The following table provides more information on our unrealized loss position on fixed maturities, perpetual securities and equity securities. June 30, 2016 December 31, 2015 (In millions) Investments in an Unrealized Loss Position Gross Gross Investments in an Unrealized Loss Position Gross Gross Fixed Maturities: Public utilities 13 % 7 % 88 % 16 % 16 % 93 % Sovereign and 2 1 100 3 1 100 Banks/financial 11 12 36 12 9 59 Other corporate 63 59 47 66 69 86 Total fixed 89 79 97 95 Perpetual securities 7 14 100 3 5 100 Equity securities 4 7 0 0 Total 100 % 100 % 100 % 100 %
Securities Lending Transactions Accounted for as Secured Borrowings	Details of our securities lending activities were as follows: Securities Lending Transactions Accounted for as Secured Borrowings June 30, 2016 Remaining Contractual Maturity of the Agreements (In millions) Overnight (1) Up to 30 Total Securities lending transactions: Japan government and agencies $ 0 $ 372 $ 372 Public utilities 104 0 104 Banks/financial institutions 24 0 24 Other corporate 326 0 326 Total borrowings $ 454 $ 372 $ 826 Gross amount of recognized liabilities for securities lending transactions $ 826 Amounts related to agreements not included in offsetting disclosure in Note 4 $ 0 (1) These securities are pledged as collateral under our U.S. securities lending program and can be called at our discretion; therefore, they are classified as Overnight and Continuous. Securities Lending Transactions Accounted for as Secured Borrowings December 31, 2015 Remaining Contractual Maturity of the Agreements (In millions) Overnight (1) Up to 30 Total Securities lending transactions: Japan government and agencies $ 0 $ 499 $ 499 Public utilities 108 0 108 Banks/financial institutions 13 0 13 Other corporate 321 0 321 Total borrowings $ 442 $ 499 $ 941 Gross amount of recognized liabilities for securities lending transactions $ 941 Amounts related to agreements not included in offsetting disclosure in Note 4 $ 0 (1) These securities are pledged as collateral under our U.S. securities lending program and can be called at our discretion; therefore, they are classified as Overnight and Continuous.
Variable Interest Entity, Consolidated
Investments in Variable Interest Entities	VIEs - Consolidated The following table presents the cost or amortized cost, fair value and balance sheet caption in which the assets and liabilities of consolidated VIEs are reported. Investments in Consolidated Variable Interest Entities June 30, 2016 December 31, 2015 (In millions) Cost or Amortized Fair Cost or Amortized Fair Assets: Fixed maturities, available for sale $ 4,878 $ 5,493 $ 3,739 $ 4,554 Perpetual securities, available for sale 267 197 255 228 Equity securities 1,018 941 363 363 Other investments 165 169 0 0 Other assets 177 177 102 102 Total assets of consolidated VIEs $ 6,505 $ 6,977 $ 4,459 $ 5,247 Liabilities: Other liabilities $ 117 $ 117 $ 293 $ 293 Total liabilities of consolidated VIEs $ 117 $ 117 $ 293 $ 293
Variable Interest Entity, Not Consolidated
Investments in Variable Interest Entities	VIEs-Not Consolidated The table below reflects the amortized cost, fair value and balance sheet caption in which our investment in VIEs not consolidated are reported. Investments in Variable Interest Entities Not Consolidated June 30, 2016 December 31, 2015 (In millions) Amortized Fair Amortized Fair Assets: Fixed maturities, available for sale $ 5,158 $ 5,656 $ 4,731 $ 5,093 Perpetual securities, available for sale 292 279 249 253 Fixed maturities, held to maturity 2,902 3,336 2,477 2,636 Total investments in VIEs not consolidated $ 8,352 $ 9,271 $ 7,457 $ 7,982 Prior-year amounts have been adjusted for the adoption of accounting guidance on January 1, 2016 related to consolidations.

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value and Notional Amount of Derivatives with Counterparty Credit Risk	The counterparties to these derivatives are financial institutions with the following credit ratings: June 30, 2016 December 31, 2015 (In millions) Notional Amount Asset Derivatives Liability Derivatives Notional Amount Asset Derivatives Liability Derivatives Counterparties' credit rating: AA $ 2,875 $ 173 $ (126 ) $ 2,187 $ 166 $ (35 ) A 19,131 1,691 (352 ) 19,940 510 (336 ) BBB 1,100 99 (64 ) 0 0 0 Total $ 23,106 $ 1,963 $ (542 ) $ 22,127 $ 676 $ (371 )
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The tables below summarize the balance sheet classification of our derivative fair value amounts, as well as the gross asset and liability fair value amounts. The fair value amounts presented do not include income accruals. The notional amount of derivative contracts represents the basis upon which pay or receive amounts are calculated. Notional amounts are not reflective of credit risk. June 30, 2016 (In millions) Net Derivatives Asset Liability Hedge Designation/ Derivative Type Notional Fair Value Fair Value Fair Value Cash flow hedges: Foreign currency swaps $ 75 $ (1 ) $ 1 $ (2 ) Total cash flow hedges 75 (1 ) 1 (2 ) Fair value hedges: Foreign currency forwards 12,917 1,442 1,442 0 Foreign currency options 1,685 6 7 (1 ) Total fair value hedges 14,602 1,448 1,449 (1 ) Net investment hedge: Foreign currency forwards 846 (93 ) 0 (93 ) Foreign currency options 710 (48 ) 4 (52 ) Total net investment hedge 1,556 (141 ) 4 (145 ) Non-qualifying strategies: Foreign currency swaps 6,669 97 491 (394 ) Foreign currency forwards 107 17 17 0 Credit default swaps 97 1 1 0 Total non-qualifying strategies 6,873 115 509 (394 ) Total derivatives $ 23,106 $ 1,421 $ 1,963 $ (542 ) Balance Sheet Location Other assets $ 18,388 $ 1,963 $ 1,963 $ 0 Other liabilities 4,718 (542 ) 0 (542 ) Total derivatives $ 23,106 $ 1,421 $ 1,963 $ (542 ) December 31, 2015 (In millions) Net Derivatives Asset Liability Hedge Designation/ Derivative Type Notional Fair Value Fair Value Fair Value Cash flow hedges: Foreign currency swaps $ 75 $ (15 ) $ 0 $ (15 ) Total cash flow hedges 75 (15 ) 0 (15 ) Fair value hedges: Foreign currency forwards 13,080 45 88 (43 ) Foreign currency options 1,250 0 0 0 Total fair value hedges 14,330 45 88 (43 ) Net investment hedge: Foreign currency forwards 763 13 19 (6 ) Foreign currency options 266 (3 ) 5 (8 ) Total net investment hedge 1,029 10 24 (14 ) Non-qualifying strategies: Foreign currency swaps 6,599 264 563 (299 ) Foreign currency forwards 11 0 0 0 Credit default swaps 83 1 1 0 Total non-qualifying strategies 6,693 265 564 (299 ) Total derivatives $ 22,127 $ 305 $ 676 $ (371 ) Balance Sheet Location Other assets $ 11,413 $ 676 $ 676 $ 0 Other liabilities 10,714 (371 ) 0 (371 ) Total derivatives $ 22,127 $ 305 $ 676 $ (371 )
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location	The following table presents the gains and losses on derivatives and the related hedged items in fair value hedges. Fair Value Hedging Relationships (In millions) Hedging Derivatives Hedged Items Hedging Derivatives Hedged Items Total Gains (Losses) Gains (Losses) Gains (Losses) Ineffectiveness Three Months Ended June 30, 2016: Foreign currency Fixed-maturity securities $ 1,156 $ (48 ) $ 1,204 $ (1,236 ) $ (32 ) Foreign currency Fixed-maturity securities 7 7 0 0 0 Six Months Ended June 30, 2016: Foreign currency forwards Fixed-maturity securities $ 2,013 $ (92 ) $ 2,105 $ (2,118 ) $ (13 ) Foreign currency options Fixed-maturity securities 6 6 0 0 0 Three Months Ended June 30, 2015: Foreign currency Fixed-maturity securities $ (267 ) $ (17 ) $ (250 ) $ 244 $ (6 ) Foreign currency options Fixed-maturity securities (5 ) 1 (6 ) 6 0 Interest rate Fixed-maturity securities (4 ) 0 (4 ) 5 1 Six Months Ended June 30, 2015: Foreign currency forwards Fixed-maturity securities $ (230 ) $ (32 ) $ (198 ) $ 205 $ 7 Foreign currency options Fixed-maturity securities (3 ) 4 (7 ) 7 0 Interest rate Fixed-maturity securities (95 ) 19 (114 ) 99 (15 )
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance	Impact of Derivatives and Hedging Instruments The following table summarizes the impact to realized investment gains (losses) and other comprehensive income (loss) from all derivatives and hedging instruments. Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 (In millions) Realized Investment Other (1) Realized Investment Other (1) Realized Investment Other (1) Realized Investment Other (1) Qualifying hedges: Cash flow hedges: Foreign currency swaps $ 1 $ 8 $ 0 $ 2 $ 1 $ 11 $ 0 $ (2 ) Total cash flow hedges 1 8 0 2 1 11 0 (2 ) Fair value hedges: Foreign currency forwards (2) (80 ) 0 (23 ) 0 (105 ) 0 (25 ) 0 Foreign currency options (2) 7 0 1 0 6 0 4 0 Interest rate swaptions (2) 0 0 1 0 0 0 4 0 Total fair value hedges (73 ) 0 (21 ) 0 (99 ) 0 (17 ) 0 Net investment hedge: Non- derivative hedging instruments 0 (22 ) 0 6 0 (37 ) 0 5 Foreign currency forwards 0 (83 ) 0 32 0 (133 ) 0 34 Foreign currency options 0 (15 ) 0 0 0 (31 ) 0 0 Total net investment hedge 0 (120 ) 0 38 0 (201 ) 0 39 Non-qualifying strategies: Foreign currency swaps (104 ) 0 55 0 (94 ) 0 (2 ) 0 Foreign currency forwards 10 0 (1 ) 0 21 0 (1 ) 0 Credit default swaps (1 ) 0 0 0 0 0 1 0 Interest rate swaps 0 0 2 0 0 0 5 0 Total non- qualifying strategies (95 ) 0 56 0 (73 ) 0 3 0 Total $ (167 ) $ (112 ) $ 35 $ 40 $ (171 ) $ (190 ) $ (14 ) $ 37 (1) Cash flow hedge items are recorded as unrealized gains (losses) on derivatives and net investment hedge items are recorded in the unrealized foreign currency translation gains (losses) line in the consolidated statement of comprehensive income (loss). (2) Impact shown net of effect of hedged items (see Fair Value Hedges section of this Note 4 for further detail)
Offsetting Assets	The tables below summarize our derivatives and securities lending transactions, and as reflected in the tables, in accordance with U.S. GAAP, our policy is to not offset these financial instruments in the Consolidated Balance Sheets. Offsetting of Financial Assets and Derivative Assets June 30, 2016 Gross Amounts Not Offset (In millions) Gross Amount of Recognized Assets Gross Amount Net Amount of Assets Presented in Balance Sheet Carrying Value of Financial Instruments Collateral Received Net Amount Derivative assets: Foreign currency swaps $ 492 $ 0 $ 492 $ 0 $ (187 ) $ 305 Foreign currency forwards 1,459 0 1,459 0 (1,554 ) (95 ) Foreign currency options 11 0 11 0 (6 ) 5 Credit default swaps 1 0 1 0 0 1 Total derivative assets, 1,963 0 1,963 0 (1,747 ) (1) 216 Securities lending and 801 0 801 0 (801 ) 0 Total $ 2,764 $ 0 $ 2,764 $ 0 $ (2,548 ) $ 216 (1) Consists of $1,509 of pledged securities and $238 of cash. December 31, 2015 Gross Amounts Not Offset (In millions) Gross Amount of Recognized Assets Gross Amount Offset in Balance Sheet Net Amount of Assets Presented in Balance Sheet Carrying Value of Financial Instruments Collateral Received Net Amount Derivative assets: Foreign currency swaps $ 563 $ 0 $ 563 $ 0 $ (313 ) $ 250 Foreign currency forwards 107 0 107 0 (96 ) 11 Foreign currency options 5 0 5 0 (3 ) 2 Credit default swaps 1 0 1 0 0 1 Total derivative assets, 676 0 676 0 (412 ) (1) 264 Securities lending and 921 0 921 0 (921 ) 0 Total $ 1,597 $ 0 $ 1,597 $ 0 $ (1,333 ) $ 264 (1) Consists of $86 of pledged securities and $326 of cash.
Offsetting Liabilities	Offsetting of Financial Liabilities and Derivative Liabilities June 30, 2016 Gross Amounts Not Offset (In millions) Gross Amount of Recognized Liabilities Gross Amount Offset in Balance Sheet Net Amount of Liabilities Presented in Balance Sheet Carrying Value of Financial Instruments Collateral Pledged Net Amount Derivative liabilities: Foreign currency swaps $ (396 ) $ 0 $ (396 ) $ 0 $ 111 $ (285 ) Foreign currency forwards (93 ) 0 (93 ) 0 95 2 Foreign currency options (53 ) 0 (53 ) 0 53 0 Total derivative liabilities, (542 ) 0 (542 ) 0 259 (1) (283 ) Securities lending and (826 ) 0 (826 ) 801 0 (25 ) Total $ (1,368 ) $ 0 $ (1,368 ) $ 801 $ 259 $ (308 ) (1) Consists entirely of cash. December 31, 2015 Gross Amounts Not Offset (In millions) Gross Amount of Recognized Liabilities Gross Amount Offset in Balance Sheet Net Amount of Liabilities Presented in Balance Sheet Carrying Value of Financial Instruments Collateral Pledged Net Amount Derivative liabilities: Foreign currency swaps $ (314 ) $ 0 $ (314 ) $ 0 $ 1 $ (313 ) Foreign currency forwards (49 ) 0 (49 ) 0 18 (31 ) Foreign currency options (8 ) 0 (8 ) 0 1 (7 ) Total derivative liabilities, (371 ) 0 (371 ) 0 20 (1) (351 ) Securities lending and (941 ) 0 (941 ) 921 0 (20 ) Total $ (1,312 ) $ 0 $ (1,312 ) $ 921 $ 20 $ (371 ) (1) Consists of $17 of pledged securities and $3 of cash.

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Hierarchy, Assets and Liabilities Measured on Recurring Basis	The following tables present the fair value hierarchy levels of the Company's assets and liabilities that are measured and carried at fair value on a recurring basis. June 30, 2016 (In millions) Quoted Prices in Significant Significant Total Assets: Securities available for sale, carried at Fixed maturities: Government and agencies $ 27,284 $ 859 $ 0 $ 28,143 Municipalities 0 1,360 0 1,360 Mortgage- and asset-backed securities 0 886 252 1,138 Public utilities 0 8,327 0 8,327 Sovereign and supranational 0 1,565 0 1,565 Banks/financial institutions 0 6,200 26 6,226 Other corporate 0 33,527 0 33,527 Total fixed maturities 27,284 52,724 278 80,286 Perpetual securities: Banks/financial institutions 0 1,598 0 1,598 Other corporate 0 234 0 234 Total perpetual securities 0 1,832 0 1,832 Equity securities 1,188 6 3 1,197 Other assets: Foreign currency swaps 0 316 176 492 Foreign currency forwards 0 1,459 0 1,459 Foreign currency options 0 11 0 11 Credit default swaps 0 0 1 1 Total other assets 0 1,786 177 1,963 Other investments 207 0 0 207 Cash and cash equivalents 3,700 0 0 3,700 Total assets $ 32,379 $ 56,348 $ 458 $ 89,185 Liabilities: Foreign currency swaps $ 0 $ 279 $ 117 $ 396 Foreign currency forwards 0 93 0 93 Foreign currency options 0 53 0 53 Total liabilities $ 0 $ 425 $ 117 $ 542 December 31, 2015 (In millions) Quoted Prices in Significant Significant Total Assets: Securities available for sale, carried at Fixed maturities: Government and agencies $ 18,669 $ 607 $ 0 $ 19,276 Municipalities 0 1,208 0 1,208 Mortgage- and asset-backed securities 0 362 220 582 Public utilities 0 7,479 0 7,479 Sovereign and supranational 0 1,407 0 1,407 Banks/financial institutions 0 5,993 26 6,019 Other corporate 0 29,378 0 29,378 Total fixed maturities 18,669 46,434 246 65,349 Perpetual securities: Banks/financial institutions 0 1,742 0 1,742 Other corporate 0 205 0 205 Total perpetual securities 0 1,947 0 1,947 Equity securities 489 6 3 498 Other assets: Foreign currency swaps 0 462 101 563 Foreign currency forwards 0 107 0 107 Foreign currency options 0 5 0 5 Credit default swaps 0 0 1 1 Total other assets 0 574 102 676 Other investments 176 0 0 176 Cash and cash equivalents 4,350 0 0 4,350 Total assets $ 23,684 $ 48,961 $ 351 $ 72,996 Liabilities: Foreign currency swaps $ 0 $ 21 $ 293 $ 314 Foreign currency forwards 0 49 0 49 Foreign currency options 0 8 0 8 Total liabilities $ 0 $ 78 $ 293 $ 371
Fair Value Hierarchy Levels of Assets and Liabilities Carried at Cost or Amortized Cost	The following tables present the carrying amount and fair value categorized by fair value hierarchy level for the Company's financial instruments that are not carried at fair value. June 30, 2016 (In millions) Carrying Quoted Prices in Significant Significant Total Assets: Securities held to maturity, Fixed maturities: Government and agencies $ 23,440 $ 32,076 $ 0 $ 0 $ 32,076 Municipalities 398 0 565 0 565 Mortgage and asset-backed 39 0 13 28 41 Public utilities 3,623 0 4,028 0 4,028 Sovereign and 2,994 0 3,391 0 3,391 Banks/financial institutions 4,659 0 4,920 0 4,920 Other corporate 3,193 0 3,775 0 3,775 Other investments 415 0 0 421 421 Total assets $ 38,761 $ 32,076 $ 16,692 $ 449 $ 49,217 Liabilities: Other policyholders’ funds $ 7,468 $ 0 $ 0 $ 7,327 $ 7,327 Notes payable 4,987 0 0 5,522 5,522 Total liabilities $ 12,455 $ 0 $ 0 $ 12,849 $ 12,849 December 31, 2015 (In millions) Carrying Quoted Prices in Significant Significant Total Assets: Securities held to maturity, Fixed maturities: Government and agencies $ 20,004 $ 23,391 $ 0 $ 0 $ 23,391 Municipalities 341 0 415 0 415 Mortgage and asset-backed 36 0 12 26 38 Public utilities 3,092 0 3,203 0 3,203 Sovereign and 2,555 0 2,711 0 2,711 Banks/financial institutions 4,431 0 4,546 0 4,546 Other corporate 3,000 0 3,216 0 3,216 Other investments 118 0 0 118 118 Total assets $ 33,577 $ 23,391 $ 14,103 $ 144 $ 37,638 Liabilities: Other policyholders’ funds $ 6,285 $ 0 $ 0 $ 6,160 $ 6,160 Notes payable 4,991 0 0 5,285 5,285 Total liabilities $ 11,276 $ 0 $ 0 $ 11,445 $ 11,445
Fair Value Assets Available-for-Sale Securities Primary Pricing Sources	The following tables present the pricing sources for the fair values of our fixed maturities, perpetual securities, and equity securities. June 30, 2016 (In millions) Quoted Prices in Active Markets for Identical Assets Significant Observable Inputs Significant Unobservable Inputs Total Securities available for sale, carried at fair value: Fixed maturities: Government and agencies: Third party pricing vendor $ 27,284 $ 859 $ 0 $ 28,143 Total government and agencies 27,284 859 0 28,143 Municipalities: Third party pricing vendor 0 1,360 0 1,360 Total municipalities 0 1,360 0 1,360 Mortgage- and asset-backed securities: Third party pricing vendor 0 886 0 886 Broker/other 0 0 252 252 Total mortgage- and asset-backed securities 0 886 252 1,138 Public utilities: Third party pricing vendor 0 8,327 0 8,327 Total public utilities 0 8,327 0 8,327 Sovereign and supranational: Third party pricing vendor 0 1,565 0 1,565 Total sovereign and supranational 0 1,565 0 1,565 Banks/financial institutions: Third party pricing vendor 0 6,200 0 6,200 Broker/other 0 0 26 26 Total banks/financial institutions 0 6,200 26 6,226 Other corporate: Third party pricing vendor 0 33,527 0 33,527 Total other corporate 0 33,527 0 33,527 Total fixed maturities 27,284 52,724 278 80,286 Perpetual securities: Banks/financial institutions: Third party pricing vendor 0 1,598 0 1,598 Total banks/financial institutions 0 1,598 0 1,598 Other corporate: Third party pricing vendor 0 234 0 234 Total other corporate 0 234 0 234 Total perpetual securities 0 1,832 0 1,832 Equity securities: Third party pricing vendor 1,188 6 0 1,194 Broker/other 0 0 3 3 Total equity securities 1,188 6 3 1,197 Total securities available for sale $ 28,472 $ 54,562 $ 281 $ 83,315 December 31, 2015 (In millions) Quoted Prices in Active Markets Significant Observable Significant Unobservable Inputs Total Securities available for sale, carried at fair value: Fixed maturities: Government and agencies: Third party pricing vendor $ 18,669 $ 607 $ 0 $ 19,276 Total government and agencies 18,669 607 0 19,276 Municipalities: Third party pricing vendor 0 1,208 0 1,208 Total municipalities 0 1,208 0 1,208 Mortgage- and asset-backed securities: Third party pricing vendor 0 362 0 362 Broker/other 0 0 220 220 Total mortgage- and asset-backed securities 0 362 220 582 Public utilities: Third party pricing vendor 0 7,479 0 7,479 Total public utilities 0 7,479 0 7,479 Sovereign and supranational: Third party pricing vendor 0 1,407 0 1,407 Total sovereign and supranational 0 1,407 0 1,407 Banks/financial institutions: Third party pricing vendor 0 5,993 0 5,993 Broker/other 0 0 26 26 Total banks/financial institutions 0 5,993 26 6,019 Other corporate: Third party pricing vendor 0 29,378 0 29,378 Total other corporate 0 29,378 0 29,378 Total fixed maturities 18,669 46,434 246 65,349 Perpetual securities: Banks/financial institutions: Third party pricing vendor 0 1,742 0 1,742 Total banks/financial institutions 0 1,742 0 1,742 Other corporate: Third party pricing vendor 0 205 0 205 Total other corporate 0 205 0 205 Total perpetual securities 0 1,947 0 1,947 Equity securities: Third party pricing vendor 489 6 0 495 Broker/other 0 0 3 3 Total equity securities 489 6 3 498 Total securities available for sale $ 19,158 $ 48,387 $ 249 $ 67,794
Fair Value Assets Held-To-Maturity Securities Primary Pricing Sources	December 31, 2015 (In millions) Quoted Prices in Active Markets Significant Observable Significant Unobservable Inputs Total Securities held to maturity, carried at amortized cost: Fixed maturities: Government and agencies: Third party pricing vendor $ 23,391 $ 0 $ 0 $ 23,391 Total government and agencies 23,391 0 0 23,391 Municipalities: Third party pricing vendor 0 415 0 415 Total municipalities 0 415 0 415 Mortgage- and asset-backed securities: Third party pricing vendor 0 12 0 12 Broker/other 0 0 26 26 Total mortgage- and asset-backed securities 0 12 26 38 Public utilities: Third party pricing vendor 0 3,203 0 3,203 Total public utilities 0 3,203 0 3,203 Sovereign and supranational: Third party pricing vendor 0 2,711 0 2,711 Total sovereign and supranational 0 2,711 0 2,711 Banks/financial institutions: Third party pricing vendor 0 4,546 0 4,546 Total banks/financial institutions 0 4,546 0 4,546 Other corporate: Third party pricing vendor 0 3,189 0 3,189 Broker/other 0 27 0 27 Total other corporate 0 3,216 0 3,216 Total securities held to maturity $ 23,391 $ 14,103 $ 26 $ 37,520 June 30, 2016 (In millions) Quoted Prices in Active Markets for Identical Assets Significant Observable Inputs Significant Unobservable Inputs Total Securities held to maturity, carried at amortized cost: Fixed maturities: Government and agencies: Third party pricing vendor $ 32,076 $ 0 $ 0 $ 32,076 Total government and agencies 32,076 0 0 32,076 Municipalities: Third party pricing vendor 0 565 0 565 Total municipalities 0 565 0 565 Mortgage- and asset-backed securities: Third party pricing vendor 0 13 0 13 Broker/other 0 0 28 28 Total mortgage- and asset-backed securities 0 13 28 41 Public utilities: Third party pricing vendor 0 4,028 0 4,028 Total public utilities 0 4,028 0 4,028 Sovereign and supranational: Third party pricing vendor 0 3,391 0 3,391 Total sovereign and supranational 0 3,391 0 3,391 Banks/financial institutions: Third party pricing vendor 0 4,823 0 4,823 Broker/other 0 97 0 97 Total banks/financial institutions 0 4,920 0 4,920 Other corporate: Third party pricing vendor 0 3,775 0 3,775 Total other corporate 0 3,775 0 3,775 Total securities held to maturity $ 32,076 $ 16,692 $ 28 $ 48,796
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	Transfers between Hierarchy Levels and Level 3 Rollforward There were no transfers between Level 1 and 2 for the three- and six -month periods ended June 30, 2016 and 2015 , respectively. The following tables present the changes in fair value of our available-for-sale investments and derivatives classified as Level 3. Three Months Ended Fixed Maturities Perpetual Equity Derivatives (1) (In millions) Mortgage- Banks/ Banks/ Foreign Credit Total Balance, beginning of period $ 237 $ 26 $ 0 $ 3 $ (63 ) $ 2 $ 205 Realized investment gains (losses) included in earnings 0 0 0 0 123 (1 ) 122 Unrealized gains (losses) included in other comprehensive income (loss) 26 0 0 0 (1 ) 0 25 Purchases, issuances, sales and settlements: Purchases 0 0 0 0 0 0 0 Issuances 0 0 0 0 0 0 0 Sales 0 0 0 0 0 0 0 Settlements (11 ) 0 0 0 0 0 (11 ) Transfers into Level 3 0 0 0 0 0 0 0 Transfers out of Level 3 0 0 0 0 0 0 0 Balance, end of period $ 252 $ 26 $ 0 $ 3 $ 59 $ 1 $ 341 Changes in unrealized gains (losses) relating $ 0 $ 0 $ 0 $ 0 $ 123 $ (1 ) $ 122 (1) Derivative assets and liabilities are presented net Three Months Ended Fixed Maturities Perpetual Equity Derivatives (1) (In millions) Mortgage- Banks/ Banks/ Foreign Credit Total Balance, beginning of period $ 221 $ 26 $ 150 $ 3 $ (283 ) $ 1 $ 118 Realized investment gains (losses) included in earnings 0 0 0 0 58 0 58 Unrealized gains (losses) included in other comprehensive income (loss) (6 ) (1 ) (3 ) 0 2 0 (8 ) Purchases, issuances, sales and settlements: Purchases 0 0 0 0 0 0 0 Issuances 0 0 0 0 0 0 0 Sales 0 0 (147 ) 0 0 0 (147 ) Settlements (1 ) 0 0 0 0 0 (1 ) Transfers into Level 3 0 0 0 0 0 0 0 Transfers out of Level 3 0 0 0 0 0 0 0 Balance, end of period $ 214 $ 25 $ 0 $ 3 $ (223 ) $ 1 $ 20 Changes in unrealized gains (losses) relating $ 0 $ 0 $ 0 $ 0 $ 58 $ 0 $ 58 (1) Derivative assets and liabilities are presented net Six Months Ended Fixed Maturities Perpetual Equity Derivatives (1) (In millions) Mortgage- Banks/ Banks/ Foreign Credit Total Balance, beginning of period $ 220 $ 26 $ 0 $ 3 $ (192 ) $ 1 $ 58 Realized investment gains (losses) included in earnings 0 0 0 0 268 0 268 Unrealized gains (losses) included in other comprehensive income (loss) 47 0 0 0 (16 ) 0 31 Purchases, issuances, sales and settlements: Purchases 0 0 0 0 0 0 0 Issuances 0 0 0 0 0 0 0 Sales 0 0 0 0 0 0 0 Settlements (15 ) 0 0 0 (1 ) 0 (16 ) Transfers into Level 3 0 0 0 0 0 0 0 Transfers out of Level 3 0 0 0 0 0 0 0 Balance, end of period $ 252 $ 26 $ 0 $ 3 $ 59 $ 1 $ 341 Changes in unrealized gains (losses) relating $ 0 $ 0 $ 0 $ 0 $ 268 $ 0 $ 268 (1) Derivative assets and liabilities are presented net Six Months Ended Fixed Maturities Perpetual Equity Derivatives (1) (In millions) Mortgage- Banks/ Banks/ Foreign Credit Total Balance, beginning of period $ 223 $ 26 $ 149 $ 3 $ (212 ) $ 0 $ 189 Realized investment gains (losses) included in earnings 0 0 0 0 (25 ) 1 (24 ) Unrealized gains (losses) included in other comprehensive income (loss) (7 ) (1 ) (2 ) 0 (2 ) 0 (12 ) Purchases, issuances, sales and settlements: Purchases 0 0 0 0 0 0 0 Issuances 0 0 0 0 0 0 0 Sales 0 0 (147 ) 0 0 0 (147 ) Settlements (2 ) 0 0 0 16 0 14 Transfers into Level 3 0 0 0 0 0 0 0 Transfers out of Level 3 0 0 0 0 0 0 0 Balance, end of period $ 214 $ 25 $ 0 $ 3 $ (223 ) $ 1 $ 20 Changes in unrealized gains (losses) relating $ 0 $ 0 $ 0 $ 0 $ (25 ) $ 1 $ (24 ) (1) Derivative assets and liabilities are presented net
Fair Value Inputs Assets Quantitative Information	December 31, 2015 (In millions) Fair Value Valuation Technique(s) Unobservable Input Range Assets: Securities available for sale, carried at fair value: Fixed maturities: Mortgage- and asset-backed securities $ 220 Consensus pricing Offered quotes N/A (d) Banks/financial institutions 26 Consensus pricing Offered quotes N/A (d) Equity securities 3 Net asset value Offered quotes $1-$677 ($7) Other assets: Foreign currency swaps 7 Discounted cash flow Interest rates (USD) 2.20% - 2.62% (a) Interest rates (JPY) .42% - 1.22% (b) CDS spreads 32 - 147 bps Foreign exchange rates 20.05% (c) 94 Discounted cash flow Interest rates (USD) 2.20% - 2.62% (a) Interest rates (JPY) .42% - 1.22% (b) Foreign exchange rates 20.05% (c) Credit default swaps 1 Discounted cash flow Base correlation 53.26% - 58.40% (e) CDS spreads 123 bps Recovery rate 36.87% Total assets $ 351 (a) Inputs derived from U.S. long-term rates to accommodate long maturity nature of our swaps (b) Inputs derived from Japan long-term rates to accommodate long maturity nature of our swaps (c) Based on 10 year volatility of JPY/USD exchange rate (d) N/A represents securities where we receive unadjusted broker quotes and for which there is no transparency into the providers' valuation techniques or unobservable inputs. (e) Range of base correlation for our bespoke tranche for attachment and detachment points corresponding to market indices The following tables summarize the significant unobservable inputs used in the valuation of our Level 3 available-for-sale investments and derivatives. Included in the tables are the inputs or range of possible inputs that have an effect on the overall valuation of the financial instruments. June 30, 2016 (In millions) Fair Value Valuation Technique(s) Unobservable Input Range Assets: Securities available for sale, carried at fair value: Fixed maturities: Mortgage- and asset-backed securities $ 252 Consensus pricing Offered quotes N/A (d) Banks/financial institutions 26 Consensus pricing Offered quotes N/A (d) Equity securities 3 Net asset value Offered quotes $1 - $793 ($9) Other assets: Foreign currency swaps 42 Discounted cash flow Interest rates (USD) 1.36% - 1.83% (a) Interest rates (JPY) (.04%) - .17% (b) CDS spreads 20 - 163 bps Foreign exchange rates 21.14% (c) 61 Discounted cash flow Interest rates (USD) 1.64% - 2.14% (a) Interest rates (JPY) .15% - .60% (b) CDS spreads 19 - 106 bps 73 Discounted cash flow Interest rates (USD) 1.64% - 2.14% (a) Interest rates (JPY) .15% - .60% (b) Foreign exchange rates 21.14% (c) Credit default swaps 1 Discounted cash flow Base correlation 64.18% - 69.87% (e) CDS spreads 84 bps Recovery rate 36.93% Total assets $ 458 (a) Inputs derived from U.S. long-term rates to accommodate long maturity nature of our swaps (b) Inputs derived from Japan long-term rates to accommodate long maturity nature of our swaps (c) Based on 10 year volatility of JPY/USD exchange rate (d) N/A represents securities where we receive unadjusted broker quotes and for which there is no transparency into the providers' valuation techniques or unobservable inputs. (e) Range of base correlation for our bespoke tranche for attachment and detachment points corresponding to market indices.
Fair Value Inputs Liabilities Quantitative Information	December 31, 2015 (In millions) Fair Value Valuation Technique(s) Unobservable Input Range Liabilities: Foreign currency swaps $ 158 Discounted cash flow Interest rates (USD) 2.20% - 2.62% (a) Interest rates (JPY) .42% - 1.22% (b) CDS spreads 32 - 147 bps Foreign exchange rates 20.05% (c) 120 Discounted cash flow Interest rates (USD) 2.20% - 2.62% (a) Interest rates (JPY) .42% - 1.22% (b) CDS spreads 35 - 213 bps 15 Discounted cash flow Interest rates (USD) 2.20% - 2.62% (a) Interest rates (JPY) .42% - 1.22% (b) Foreign exchange rates 20.05% (c) Total liabilities $ 293 (a) Inputs derived from U.S. long-term rates to accommodate long maturity nature of our swaps (b) Inputs derived from Japan long-term rates to accommodate long maturity nature of our swaps (c) Based on 10 year volatility of JPY/USD exchange rate June 30, 2016 (In millions) Fair Value Valuation Technique(s) Unobservable Input Range Liabilities: Foreign currency swaps $ 96 Discounted cash flow Interest rates (USD) 1.64% - 2.14% (a) Interest rates (JPY) .15% - .60% (b) CDS spreads 32 - 147 bps Foreign exchange rates 21.14% (c) 19 Discounted cash flow Interest rates (USD) 1.64% - 2.14% (a) Interest rates (JPY) .15% - .60% (b) CDS spreads 49 - 329 bps 2 Discounted cash flow Interest rates (USD) 1.64% - 2.14% (a) Interest rates (JPY) .15% - .60% (b) Foreign exchange rates 21.14% (c) Total liabilities $ 117 (a) Inputs derived from U.S. long-term rates to accommodate long maturity nature of our swaps (b) Inputs derived from Japan long-term rates to accommodate long maturity nature of our swaps (c) Based on 10 year volatility of JPY/USD exchange rate

REINSURANCE (Tables)

REINSURANCE (Tables)	6 Months Ended
	Jun. 30, 2016
Reinsurance Disclosures [Abstract]
Effects of Reinsurance	The following table reconciles direct premium income and direct benefits and claims to net amounts after the effect of reinsurance. Three Months Ended Six Months Ended (In millions) 2016 2015 2016 2015 Direct premium income $ 4,915 $ 4,448 $ 9,605 $ 8,962 Ceded to other companies: Ceded Aflac Japan closed blocks (141 ) (132 ) (275 ) (222 ) Other (12 ) (8 ) (24 ) (18 ) Assumed from other companies: Retrocession activities 59 55 115 70 Other 2 1 4 4 Net premium income $ 4,823 $ 4,364 $ 9,425 $ 8,796 Direct benefits and claims $ 3,332 $ 3,013 $ 6,435 $ 6,038 Ceded benefits and change in reserves for future benefits: Ceded Aflac Japan closed blocks (129 ) (120 ) (250 ) (200 ) Other 8 10 12 3 Assumed from other companies: Retrocession activities 56 51 109 65 Other (13 ) (17 ) (27 ) (17 ) Benefits and claims, net $ 3,254 $ 2,937 $ 6,279 $ 5,889

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	A summary of notes payable follows: (In millions) June 30, 2016 December 31, 2015 2.65% senior notes due February 2017 $ 650 (1) $ 651 (1) 2.40% senior notes due March 2020 547 (2) 546 (2) 4.00% senior notes due February 2022 348 348 3.625% senior notes due June 2023 696 696 3.625% senior notes due November 2024 744 744 3.25% senior notes due March 2025 445 445 6.90% senior notes due December 2039 394 (2) 393 (2) 6.45% senior notes due August 2040 445 445 5.50% subordinated debentures due September 2052 486 486 Yen-denominated Uridashi notes: 2.26% notes due September 2016 (principal amount 8 billion yen) 78 66 Yen-denominated Samurai notes: 1.84% notes due July 2016 (principal amount 15.8 billion yen) 154 (3) 131 Capitalized lease obligations payable through 2023 22 20 Total notes payable $ 5,009 $ 4,971 (1) Principal amount plus an issuance premium that is being amortized over the life of the notes (2) Principal amount net of an issuance discount that is being amortized over the life of the notes (3) Paid off in July 2016 at its specific maturity date Prior-year amounts have been adjusted for the adoption of accounting guidance on January 1, 2016 related to debt issuance costs.

SHAREHOLDERS' EQUITY (Tables)

SHAREHOLDERS' EQUITY (Tables)	6 Months Ended
	Jun. 30, 2016
Stockholders' Equity Note [Abstract]
Schedule of Common Stock Outstanding Roll Forward	The following table is a reconciliation of the number of shares of the Company's common stock for the six -month periods ended June 30 . (In thousands of shares) 2016 2015 Common stock - issued: Balance, beginning of period 669,723 668,132 Exercise of stock options and issuance of restricted shares 1,041 934 Balance, end of period 670,764 669,066 Treasury stock: Balance, beginning of period 245,343 225,687 Purchases of treasury stock: Open market 16,026 13,534 Other 224 214 Dispositions of treasury stock: Shares issued to AFL Stock Plan (594 ) (611 ) Exercise of stock options (238 ) (265 ) Other (112 ) (110 ) Balance, end of period 260,649 238,449 Shares outstanding, end of period 410,115 430,617
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table presents the approximate number of share-based awards to purchase shares, on a weighted-average basis, that were considered to be anti-dilutive and were excluded from the calculation of diluted earnings per share for the following periods. Three Months Ended Six Months Ended (In thousands) 2016 2015 2016 2015 Anti-dilutive share-based awards 696 1,390 1,689 1,634
Schedule of Accumulated Other Comprehensive Income (Loss)	Three Months Ended (In millions) Unrealized Foreign Unrealized Unrealized Pension Total Balance, beginning of period $ (1,584 ) $ 4,684 $ (24 ) $ (140 ) $ 2,936 Other comprehensive 737 1,750 5 (4 ) 2,488 Amounts reclassified from 0 7 0 1 8 Net current-period other 737 1,757 5 (3 ) 2,496 Balance, end of period $ (847 ) $ 6,441 $ (19 ) $ (143 ) $ 5,432 All amounts in the table above are net of tax. Three Months Ended (In millions) Unrealized Foreign Unrealized Unrealized Pension Liability Adjustment Total Balance, beginning of period $ (2,540 ) $ 5,026 $ (28 ) $ (126 ) $ 2,332 Other comprehensive (185 ) (1,598 ) 1 0 (1,782 ) Amounts reclassified from 0 (44 ) 0 1 (43 ) Net current-period other (185 ) (1,642 ) 1 1 (1,825 ) Balance, end of period $ (2,725 ) $ 3,384 $ (27 ) $ (125 ) $ 507 All amounts in the table above are net of tax. Six Months Ended (In millions) Unrealized Foreign Unrealized Unrealized Pension Liability Adjustment Total Balance, beginning of period $ (2,196 ) $ 2,986 $ (26 ) $ (139 ) $ 625 Other comprehensive 1,349 3,498 7 (5 ) 4,849 Amounts reclassified from 0 (43 ) 0 1 (42 ) Net current-period other 1,349 3,455 7 (4 ) 4,807 Balance, end of period $ (847 ) $ 6,441 $ (19 ) $ (143 ) $ 5,432 All amounts in the table above are net of tax. Six Months Ended (In millions) Unrealized Foreign Unrealized Unrealized Pension Liability Adjustment Total Balance, beginning of period $ (2,541 ) $ 4,672 $ (26 ) $ (126 ) $ 1,979 Other comprehensive (184 ) (1,211 ) (1 ) 0 (1,396 ) Amounts reclassified from 0 (77 ) 0 1 (76 ) Net current-period other (184 ) (1,288 ) (1 ) 1 (1,472 ) Balance, end of period $ (2,725 ) $ 3,384 $ (27 ) $ (125 ) $ 507 All amounts in the table above are net of tax.
Reclassification Out Of Accumulated Other Comprehensive Income	(In millions) Three Months Ended Details about Accumulated Other Comprehensive Income Components Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Unrealized gains (losses) on available-for-sale $ 22 Sales and redemptions (33 ) Other-than-temporary impairment (11 ) Total before tax 4 Tax (expense) or benefit (1) $ (7 ) Net of tax Amortization of defined benefit pension items: Actuarial gains (losses) $ (5 ) Acquisition and operating expenses (2) Prior service (cost) credit 3 Acquisition and operating expenses (2) 1 Tax (expense) or benefit (1) $ (1 ) Net of tax Total reclassifications for the period $ (8 ) Net of tax (1) Based on 35% tax rate (2) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 10 for additional details). (In millions) Three Months Ended Details about Accumulated Other Comprehensive Income Components Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Unrealized gains (losses) on available-for-sale $ 68 Sales and redemptions 0 Other-than-temporary impairment 68 Total before tax (24 ) Tax (expense) or benefit (1) $ 44 Net of tax Amortization of defined benefit pension items: Actuarial gains (losses) $ (5 ) Acquisition and operating expenses (2) Prior service (cost) credit 4 Acquisition and operating expenses (2) 0 Tax (expense) or benefit (1) $ (1 ) Net of tax Total reclassifications for the period $ 43 Net of tax (1) Based on 35% tax rate (2) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 10 for additional details). (In millions) Six Months Ended Details about Accumulated Other Comprehensive Income Components Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Unrealized gains (losses) on available-for-sale $ 113 Sales and redemptions (47 ) Other-than-temporary impairment 66 Total before tax (23 ) Tax (expense) or benefit (1) $ 43 Net of tax Amortization of defined benefit pension items: Actuarial gains (losses) $ (8 ) Acquisition and operating expenses (2) Prior service (cost) credit 6 Acquisition and operating expenses (2) 1 Tax (expense) or benefit (1) $ (1 ) Net of tax Total reclassifications for the period $ 42 Net of tax (1) Based on 35% tax rate (2) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 10 for additional details). (In millions) Six Months Ended Details about Accumulated Other Comprehensive Income Components Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Unrealized gains (losses) on available-for-sale $ 124 Sales and redemptions (6 ) Other-than-temporary impairment 118 Total before tax (41 ) Tax (expense) or benefit (1) $ 77 Net of tax Amortization of defined benefit pension items: Actuarial gains (losses) $ (9 ) Acquisition and operating expenses (2) Prior service (cost) credit 8 Acquisition and operating expenses (2) 0 Tax (expense) or benefit (1) $ (1 ) Net of tax Total reclassifications for the period $ 76 Net of tax (1) Based on 35% tax rate (2) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 10 for additional details).

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Options Outstanding and Exercisable	The following table provides information on stock options outstanding and exercisable at June 30, 2016 . Stock Weighted-Average Aggregate Weighted-Average Outstanding 7,282 4.7 $ 146 $ 52.10 Exercisable 5,369 3.3 125 48.92

BENEFIT PLANS (Tables)

BENEFIT PLANS (Tables)	6 Months Ended
	Jun. 30, 2016
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Schedule of Net Benefit Costs	Pension and other postretirement benefit expenses, included in acquisition and operating expenses in the consolidated statement of earnings, included the following components: Three Months Ended June 30, Pension Benefits Other Japan U.S. Postretirement Benefits (In millions) 2016 2015 2016 2015 2016 2015 Components of net periodic Service cost $ 4 $ 3 $ 6 $ 6 $ 0 $ 0 Interest cost 1 1 8 8 1 0 Expected return on plan (1 ) (1 ) (5 ) (5 ) 0 0 Amortization of net actuarial 1 1 3 3 1 1 Amortization of prior service 0 0 0 0 (3 ) (4 ) Net periodic (benefit) cost $ 5 $ 4 $ 12 $ 12 $ (1 ) $ (3 ) Six Months Ended June 30, Pension Benefits Other Japan U.S. Postretirement Benefits (In millions) 2016 2015 2016 2015 2016 2015 Components of net periodic Service cost $ 8 $ 7 $ 12 $ 12 $ 0 $ 0 Interest cost 3 3 16 16 1 1 Expected return on plan (2 ) (2 ) (11 ) (11 ) 0 0 Amortization of net actuarial 1 1 6 7 1 1 Amortization of prior service 0 0 0 0 (6 ) (8 ) Net periodic (benefit) cost $ 10 $ 9 $ 23 $ 24 $ (4 ) $ (6 )

Summary of Significant Accoun29

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Aflac Japan
Significant Accounting Policies [Line Items]
Aflac Japan's percentage of the Company's total revenues	75.00%	70.00%
Percentage of the Company Assets	85.00%		83.00%
Accounting Standards Update 2015-03 [Member]
Significant Accounting Policies [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Assets			$ (40)
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Liabilities			$ (40)

BUSINESS SEGMENT INFORMATION -

BUSINESS SEGMENT INFORMATION - Operations by Segment - Revenues (Details) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)segment	Jun. 30, 2015USD ($)
Segment Reporting, Revenue Reconciling Item [Line Items]
Number of Reportable Insurance Business Segments | segment				2
Net earned premiums		$ 4,823	$ 4,364	$ 9,425	$ 8,796
Net investment income		822	777	1,623	1,559
Total revenues		5,437	5,287	10,888	10,513
Other non-operating income (loss)		(37)	6	(80)	(12)
Realized investment gains (losses), non-operating	[1]	(208)	104	(157)	100
Gain (loss) on change in fair value of derivative, interest rate component, operating		21	23	43	40
Aflac Japan
Segment Reporting, Revenue Reconciling Item [Line Items]
Net earned premiums		3,402	2,978	6,581	6,056
Net investment income		642	605	1,264	1,218
Other income (loss)		11	7	19	15
Total revenues		4,055	3,590	7,864	7,289
Aflac U.S.
Segment Reporting, Revenue Reconciling Item [Line Items]
Net earned premiums		1,362	1,331	2,729	2,670
Net investment income		176	168	350	334
Other income (loss)		0	2	3	5
Total revenues		1,538	1,501	3,082	3,009
Other business segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues		68	65	136	91
Total Business Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues		5,661	5,156	11,082	10,389
Corporate
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues		69	71	136	169
Intercompany eliminations
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues		$ (48)	$ (50)	$ (93)	$ (133)
[1]	Excluding a gain of $21 and $23 for the three-month periods and $43 and $40 for the six-month periods ended June 30, 2016, and 2015, respectively, related to the interest rate component of the change in fair value of foreign currency swaps on notes payable which is classified as an operating gain when analyzing segment operations

BUSINESS SEGMENT INFORMATION 31

BUSINESS SEGMENT INFORMATION - Operations by Segment - Pretax Earnings (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Pretax operating earnings		$ 1,079	$ 995	$ 2,188	$ 2,030
Realized investment gains (losses), non-operating	[1]	(208)	104	(157)	100
Other non-operating income (loss)		(37)	(225)	(80)	(243)
Earnings before income taxes		834	874	1,951	1,887
Income taxes applicable to pretax operating earnings		372	344	755	701
Effect of foreign currency translation on operating earnings		36	(59)	49	(117)
Gain (loss) on change in fair value of derivative, interest rate component, operating		21	23	43	40
Gain (Loss) on Investments		(187)	127	(114)	140
Aflac Japan
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Pretax operating earnings		839	757	1,677	1,576
Aflac U.S.
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Pretax operating earnings		291	293	623	578
Other business segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Pretax operating earnings		5	3	8	4
Total Business Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Pretax operating earnings		1,135	1,053	2,308	2,158
Interest expense, noninsurance operations
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Pretax operating earnings		(30)	(38)	(59)	(87)
Corporate and eliminations
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Pretax operating earnings		$ (26)	$ (20)	$ (61)	$ (41)
[1]	Excluding a gain of $21 and $23 for the three-month periods and $43 and $40 for the six-month periods ended June 30, 2016, and 2015, respectively, related to the interest rate component of the change in fair value of foreign currency swaps on notes payable which is classified as an operating gain when analyzing segment operations

BUSINESS SEGMENT INFORMATION 32

BUSINESS SEGMENT INFORMATION - Operations by Segment - Assets (Detail) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 141,287	$ 118,256
Aflac Japan
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	120,571	97,646
Aflac U.S.
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	19,712	18,537
Other business segments
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	248	188
Total Business Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	140,531	116,371
Corporate
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	28,189	23,375
Intercompany eliminations
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ (27,433)	$ (21,490)

INVESTMENTS - Available-For-Sal

INVESTMENTS - Available-For-Sale Investments in Debt Securities, Perpetual Securities and Equity Securities (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	$ 73,160	$ 62,963
Gross Unrealized Gains	11,518	6,627
Gross Unrealized Losses	1,363	1,796
Fair Value	83,315	67,794
Fixed maturities
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	69,999	60,642
Gross Unrealized Gains	11,357	6,405
Gross Unrealized Losses	1,070	1,698
Fair Value	80,286	65,349
Perpetual securities:
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	1,916	1,841
Gross Unrealized Gains	115	200
Gross Unrealized Losses	199	94
Fair Value	1,832	1,947
Equity securities
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	1,245	480
Gross Unrealized Gains	46	22
Gross Unrealized Losses	94	4
Fair Value	1,197	498
Yen-denominated | Fixed maturities
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	32,442	25,592
Gross Unrealized Gains	7,437	3,067
Gross Unrealized Losses	187	148
Fair Value	39,692	28,511
Yen-denominated | Equity securities
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	694	472
Gross Unrealized Gains	29	19
Gross Unrealized Losses	76	4
Fair Value	647	487
Dollar-denominated | Fixed maturities
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	37,557	35,050
Gross Unrealized Gains	3,920	3,338
Gross Unrealized Losses	883	1,550
Fair Value	40,594	36,838
Dollar-denominated | Equity securities
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	551	8
Gross Unrealized Gains	17	3
Gross Unrealized Losses	18	0
Fair Value	550	11
Japan government and agencies | Yen-denominated | Fixed maturities
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	22,176	17,293
Gross Unrealized Gains	5,828	1,862
Gross Unrealized Losses	0	0
Fair Value	28,004	19,155
Municipalities | Fixed maturities
Schedule of Available-for-sale Securities [Line Items]
Fair Value	1,360	1,208
Municipalities | Yen-denominated | Fixed maturities
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	200	128
Gross Unrealized Gains	60	9
Gross Unrealized Losses	0	0
Fair Value	260	137
Municipalities | Dollar-denominated | Fixed maturities
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	943	926
Gross Unrealized Gains	164	151
Gross Unrealized Losses	7	6
Fair Value	1,100	1,071
Mortgage- and asset-backed securities | Fixed maturities
Schedule of Available-for-sale Securities [Line Items]
Fair Value	1,138	582
Mortgage- and asset-backed securities | Yen-denominated | Fixed maturities
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	870	322
Gross Unrealized Gains	51	33
Gross Unrealized Losses	0	0
Fair Value	921	355
Mortgage- and asset-backed securities | Dollar-denominated | Fixed maturities
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	199	200
Gross Unrealized Gains	18	27
Gross Unrealized Losses	0	0
Fair Value	217	227
Public utilities | Fixed maturities
Schedule of Available-for-sale Securities [Line Items]
Fair Value	8,327	7,479
Public utilities | Yen-denominated | Fixed maturities
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	1,639	1,400
Gross Unrealized Gains	277	210
Gross Unrealized Losses	13	10
Fair Value	1,903	1,600
Public utilities | Dollar-denominated | Fixed maturities
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	5,724	5,464
Gross Unrealized Gains	776	636
Gross Unrealized Losses	76	221
Fair Value	6,424	5,879
Sovereign and supranational | Fixed maturities
Schedule of Available-for-sale Securities [Line Items]
Fair Value	1,565	1,407
Sovereign and supranational | Yen-denominated | Fixed maturities
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	927	791
Gross Unrealized Gains	189	180
Gross Unrealized Losses	0	0
Fair Value	1,116	971
Sovereign and supranational | Dollar-denominated | Fixed maturities
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	352	331
Gross Unrealized Gains	97	105
Gross Unrealized Losses	0	0
Fair Value	449	436
Banks/financial institutions | Fixed maturities
Schedule of Available-for-sale Securities [Line Items]
Fair Value	6,226	6,019
Banks/financial institutions | Perpetual securities:
Schedule of Available-for-sale Securities [Line Items]
Fair Value	1,598	1,742
Banks/financial institutions | Yen-denominated | Fixed maturities
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	2,704	2,321
Gross Unrealized Gains	382	325
Gross Unrealized Losses	119	105
Fair Value	2,967	2,541
Banks/financial institutions | Yen-denominated | Perpetual securities:
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	1,650	1,581
Gross Unrealized Gains	77	143
Gross Unrealized Losses	199	93
Fair Value	1,528	1,631
Banks/financial institutions | Dollar-denominated | Fixed maturities
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	2,742	2,865
Gross Unrealized Gains	533	634
Gross Unrealized Losses	16	21
Fair Value	3,259	3,478
Banks/financial institutions | Dollar-denominated | Perpetual securities:
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	52	77
Gross Unrealized Gains	18	35
Gross Unrealized Losses	0	1
Fair Value	70	111
Other corporate | Fixed maturities
Schedule of Available-for-sale Securities [Line Items]
Fair Value	33,527	29,378
Other corporate | Perpetual securities:
Schedule of Available-for-sale Securities [Line Items]
Fair Value	234	205
Other corporate | Yen-denominated | Fixed maturities
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	3,926	3,337
Gross Unrealized Gains	650	448
Gross Unrealized Losses	55	33
Fair Value	4,521	3,752
Other corporate | Yen-denominated | Perpetual securities:
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	214	183
Gross Unrealized Gains	20	22
Gross Unrealized Losses	0	0
Fair Value	234	205
Other corporate | Dollar-denominated | Fixed maturities
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	27,474	25,154
Gross Unrealized Gains	2,316	1,774
Gross Unrealized Losses	784	1,302
Fair Value	29,006	25,626
U.S. government and agencies | Dollar-denominated | Fixed maturities
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	123	110
Gross Unrealized Gains	16	11
Gross Unrealized Losses	0	0
Fair Value	$ 139	$ 121

INVESTMENTS - Held-to-Maturity

INVESTMENTS - Held-to-Maturity Investments in Debt Securities (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Schedule of Held-to-maturity Securities [Line Items]
Securities held to maturity, fixed maturities, amortized cost	$ 38,346	$ 33,459
Gross Unrealized Gains	10,507	4,278
Gross Unrealized Losses	57	217
Fair Value	48,796	37,520
Fixed maturities
Schedule of Held-to-maturity Securities [Line Items]
Fair Value	48,796	37,520
Yen-denominated | Fixed maturities
Schedule of Held-to-maturity Securities [Line Items]
Securities held to maturity, fixed maturities, amortized cost	38,346	33,459
Gross Unrealized Gains	10,507	4,278
Gross Unrealized Losses	57	217
Fair Value	48,796	37,520
Japan government and agencies | Yen-denominated | Fixed maturities
Schedule of Held-to-maturity Securities [Line Items]
Securities held to maturity, fixed maturities, amortized cost	23,440	20,004
Gross Unrealized Gains	8,636	3,387
Gross Unrealized Losses	0	0
Fair Value	32,076	23,391
Municipalities | Fixed maturities
Schedule of Held-to-maturity Securities [Line Items]
Securities held to maturity, fixed maturities, amortized cost	398	341
Fair Value	565	415
Municipalities | Yen-denominated | Fixed maturities
Schedule of Held-to-maturity Securities [Line Items]
Securities held to maturity, fixed maturities, amortized cost	398	341
Gross Unrealized Gains	167	74
Gross Unrealized Losses	0	0
Fair Value	565	415
Mortgage- and asset-backed securities | Fixed maturities
Schedule of Held-to-maturity Securities [Line Items]
Securities held to maturity, fixed maturities, amortized cost	39	36
Fair Value	41	38
Mortgage- and asset-backed securities | Yen-denominated | Fixed maturities
Schedule of Held-to-maturity Securities [Line Items]
Securities held to maturity, fixed maturities, amortized cost	39	36
Gross Unrealized Gains	2	2
Gross Unrealized Losses	0	0
Fair Value	41	38
Public utilities | Fixed maturities
Schedule of Held-to-maturity Securities [Line Items]
Securities held to maturity, fixed maturities, amortized cost	3,623	3,092
Fair Value	4,028	3,203
Public utilities | Yen-denominated | Fixed maturities
Schedule of Held-to-maturity Securities [Line Items]
Securities held to maturity, fixed maturities, amortized cost	3,623	3,092
Gross Unrealized Gains	415	205
Gross Unrealized Losses	10	94
Fair Value	4,028	3,203
Sovereign and supranational | Fixed maturities
Schedule of Held-to-maturity Securities [Line Items]
Securities held to maturity, fixed maturities, amortized cost	2,994	2,555
Fair Value	3,391	2,711
Sovereign and supranational | Yen-denominated | Fixed maturities
Schedule of Held-to-maturity Securities [Line Items]
Securities held to maturity, fixed maturities, amortized cost	2,994	2,555
Gross Unrealized Gains	404	182
Gross Unrealized Losses	7	26
Fair Value	3,391	2,711
Banks/financial institutions | Fixed maturities
Schedule of Held-to-maturity Securities [Line Items]
Securities held to maturity, fixed maturities, amortized cost	4,659	4,431
Fair Value	4,920	4,546
Banks/financial institutions | Yen-denominated | Fixed maturities
Schedule of Held-to-maturity Securities [Line Items]
Securities held to maturity, fixed maturities, amortized cost	4,659	4,431
Gross Unrealized Gains	293	168
Gross Unrealized Losses	32	53
Fair Value	4,920	4,546
Other corporate | Fixed maturities
Schedule of Held-to-maturity Securities [Line Items]
Securities held to maturity, fixed maturities, amortized cost	3,193	3,000
Fair Value	3,775	3,216
Other corporate | Yen-denominated | Fixed maturities
Schedule of Held-to-maturity Securities [Line Items]
Securities held to maturity, fixed maturities, amortized cost	3,193	3,000
Gross Unrealized Gains	590	260
Gross Unrealized Losses	8	44
Fair Value	$ 3,775	$ 3,216

INVESTMENTS - Additional Inform

INVESTMENTS - Additional Information (Detail) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016USD ($)investment	Jun. 30, 2015investment	Jun. 30, 2016USD ($)issuerinvestment	Jun. 30, 2015investment	Dec. 31, 2015USD ($)
Schedule of Investments [Line Items]
Amortized Cost	$ 73,160		$ 73,160		$ 62,963
Held to maturity securities transferred to available for sale securities, number of investments | investment	0	0	0	0
Middle Market Loan Receivable	$ 227		$ 227		118
Middle Market Loan Program Unfunded Amount	31		31		53
Middle market loan commitment	$ 72		$ 72
Percentage that the lending policy requires that the fair value of the securities and/or unrestricted cash received as collateral be of the fair value of the loaned securities	102.00%		102.00%
Commercial mortgage loan commitments	$ 177		$ 177
Parent Company and Other Business Segments
Schedule of Investments [Line Items]
Securities available for sale, fixed maturities, amortized cost	570		570
Securities available for sale, fixed maturities, fair value	598		598
Variable Interest Entity, Consolidated
Schedule of Investments [Line Items]
Available-for-sale securities, equity securities	941		941		363
Securities available for sale, fixed maturities, amortized cost	4,878		4,878		3,739
Securities available for sale, fixed maturities, fair value	5,493		5,493		4,554
Available-for-sale equity securities, amortized cost basis	1,018		1,018		363
Variable Interest Entity, Not Consolidated
Schedule of Investments [Line Items]
Securities available for sale, fixed maturities, amortized cost	5,158		5,158		4,731
Securities available for sale, fixed maturities, fair value	5,656		$ 5,656		5,093
Number of issuers of VIEs not-consolidated | issuer			143
Bank loans
Schedule of Investments [Line Items]
Securities available for sale, fixed maturities, amortized cost	2,100		$ 2,100		1,400
Securities available for sale, fixed maturities, fair value	1,900		1,900		$ 1,400
Commercial mortgage loans
Schedule of Investments [Line Items]
Other investments held in unit trust, net of reserves, amortized cost	165		165
Other investments, net of reserves, amortized cost	$ 188		$ 188

INVESTMENTS - Contractual Matur

INVESTMENTS - Contractual Maturities of Investments in Fixed Maturities (Detail) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Held to maturity:
Total fixed maturities held to maturity, amortized cost	$ 38,346	$ 33,459
Held to maturity:
Total fixed maturities held to maturity, fair value	48,796	$ 37,520
Aflac Japan
Available for sale:
Due in one year or less	305
Due after one year through five years	3,882
Due after five years through 10 years	11,905
Due after 10 years	40,332
Mortgage- and asset-backed securities	926
Total fixed maturities available for sale, amortized cost	57,350
Held to maturity:
Due in one year or less	49
Due after one year through five years	1,983
Due after five years through 10 years	2,084
Due after 10 years	34,191
Mortgage- and asset-backed securities	39
Total fixed maturities held to maturity, amortized cost	38,346
Available for sale:
Due in one year or less	312
Due after one year through five years	3,972
Due after five years through 10 years	12,101
Due after 10 years	48,573
Mortgage- and asset-backed securities	988
Total fixed maturities available for sale, fair value	65,946
Held to maturity:
Due in one year or less	49
Due after one year through five years	2,087
Due after five years through 10 years	2,283
Due after 10 years	44,336
Mortgage- and asset-backed securities	41
Total fixed maturities held to maturity, fair value	48,796
Aflac U.S.
Available for sale:
Due in one year or less	60
Due after one year through five years	722
Due after five years through 10 years	2,487
Due after 10 years	8,776
Mortgage- and asset-backed securities	34
Total fixed maturities available for sale, amortized cost	12,079
Held to maturity:
Due in one year or less	0
Due after one year through five years	0
Due after five years through 10 years	0
Due after 10 years	0
Mortgage- and asset-backed securities	0
Total fixed maturities held to maturity, amortized cost	0
Available for sale:
Due in one year or less	62
Due after one year through five years	789
Due after five years through 10 years	2,726
Due after 10 years	10,124
Mortgage- and asset-backed securities	41
Total fixed maturities available for sale, fair value	13,742
Held to maturity:
Due in one year or less	0
Due after one year through five years	0
Due after five years through 10 years	0
Due after 10 years	0
Mortgage- and asset-backed securities	0
Total fixed maturities held to maturity, fair value	$ 0

INVESTMENTS - Economic Maturiti

INVESTMENTS - Economic Maturities of Investments in Perpetual Securities (Detail) $ in Millions	Jun. 30, 2016USD ($)
Aflac Japan
Investments Classified by Economic Maturity Date [Line Items]
Due in one year or less	$ 221
Due after one year through five years	306
Due after 10 years	1,350
Total perpetual securities available for sale, amortized cost	1,877
Due in one year or less	195
Due after one year through five years	316
Due after 10 years	1,269
Total perpetual securities available for sale, fair value	1,780
Aflac U.S.
Investments Classified by Economic Maturity Date [Line Items]
Due in one year or less	0
Due after one year through five years	0
Due after 10 years	39
Total perpetual securities available for sale, amortized cost	39
Due in one year or less	0
Due after one year through five years	0
Due after 10 years	52
Total perpetual securities available for sale, fair value	$ 52

INVESTMENTS - Investment Exposu

INVESTMENTS - Investment Exposures Individually Exceeded 10% of Shareholders' Equity (Details) - Japan National Government - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Summary of Investment Holdings [Line Items]
Credit Rating	A	A
Amortized Cost	$ 45,064	$ 36,859
Fair Value	$ 59,305	$ 42,025

INVESTMENTS - Information Regar

INVESTMENTS - Information Regarding Pretax Realized Gains and Losses From Investments (Detail) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Gain (Loss) on Investments [Line Items]
Other-than-temporary impairment losses realized	[1]	$ (33)	$ 0	$ (47)	$ (6)
Derivative gains (losses)		(167)	35	(171)	(14)
Total realized investment gains (losses)		(187)	127	(114)	140
Derivatives and other
Gain (Loss) on Investments [Line Items]
Total realized investment gains (losses)		(167)	35	(171)	(14)
Fixed maturities:
Gain (Loss) on Investments [Line Items]
Total realized investment gains (losses)		(20)	62	49	124
Perpetual securities:
Gain (Loss) on Investments [Line Items]
Other-than-temporary impairment losses realized		0	0	(2)	0
Total realized investment gains (losses)		30	30	38	30
Equity securities
Gain (Loss) on Investments [Line Items]
Gross gains from sales		2	0	5	0
Gross losses from sales		(8)	0	(11)	0
Other-than-temporary impairment losses realized		(24)	0	(24)	0
Total realized investment gains (losses)		(30)	0	(30)	0
Available-for-sale securities | Fixed maturities:
Gain (Loss) on Investments [Line Items]
Gross gains from sales		6	55	8	104
Gross losses from sales		(12)	0	(16)	0
Net gains (losses) from redemptions		(5)	7	78	26
Other-than-temporary impairment losses realized		(9)	0	(21)	(6)
Available-for-sale securities | Perpetual securities:
Gain (Loss) on Investments [Line Items]
Net gains (losses) from redemptions		30	30	40	30
Other-than-temporary impairment losses realized		$ 0	$ 0	$ (2)	$ 0
[1]	Includes $33 and an immaterial amount for the three-month periods and $47 and $6 for the six-month periods ended June 30, 2016 and 2015, respectively, from change in intent to sell securities or change in intent to hold securities until recovery

INVESTMENTS - Pretax Other-Than

INVESTMENTS - Pretax Other-Than-Temporary Impairment Losses by Investment Category (Detail) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Gain (Loss) on Investments [Line Items]
Other than temporary impairment losses	[1]	$ 33	$ 0	$ 47	$ 6
Change in intent impairment
Gain (Loss) on Investments [Line Items]
Other than temporary impairment losses		33		47	6
Perpetual securities
Gain (Loss) on Investments [Line Items]
Other than temporary impairment losses		0	0	2	0
Corporate bonds
Gain (Loss) on Investments [Line Items]
Other than temporary impairment losses		9	0	21	2
Banks/financial institutions
Gain (Loss) on Investments [Line Items]
Other than temporary impairment losses		0	0	0	4
Equity securities
Gain (Loss) on Investments [Line Items]
Other than temporary impairment losses		$ 24	$ 0	$ 24	$ 0
[1]	Includes $33 and an immaterial amount for the three-month periods and $47 and $6 for the six-month periods ended June 30, 2016 and 2015, respectively, from change in intent to sell securities or change in intent to hold securities until recovery

INVESTMENTS - Net Effect on Sha

INVESTMENTS - Net Effect on Shareholders' Equity of Unrealized Gains and Losses from Investment Securities (Detail) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Investments [Abstract]
Unrealized Gains (Losses) on Available-for-sale Securities	$ 10,155	$ 4,831
Deferred income taxes	(3,714)	(1,845)
Shareholders' equity, unrealized gains (losses) on investment securities	$ 6,441	$ 2,986

INVESTMENTS - Fair Value and Gr

INVESTMENTS - Fair Value and Gross Unrealized Losses for Securities That Have Been in Continuous Unrealized Loss Position (Detail) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	$ 15,091	$ 22,413
Total Unrealized Losses	1,420	2,013
Less than 12 months Fair Value	5,492	16,529
Less than 12 months Unrealized Losses	443	1,040
12 months or longer Fair Value	9,599	5,884
12 months or longer Unrealized Losses	977	973
Fixed maturities
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	13,423	21,571
Total Unrealized Losses	1,127	1,915
Less than 12 months Fair Value	4,313	16,122
Less than 12 months Unrealized Losses	307	1,024
12 months or longer Fair Value	9,110	5,449
12 months or longer Unrealized Losses	820	891
Perpetual securities
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	989	651
Total Unrealized Losses	199	94
Less than 12 months Fair Value	500	216
Less than 12 months Unrealized Losses	42	12
12 months or longer Fair Value	489	435
12 months or longer Unrealized Losses	157	82
Equity securities
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	679	191
Total Unrealized Losses	94	4
Less than 12 months Fair Value	679	191
Less than 12 months Unrealized Losses	94	4
12 months or longer Fair Value	0	0
12 months or longer Unrealized Losses	0	0
Dollar-denominated | Fixed maturities | Municipalities
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	46	80
Total Unrealized Losses	7	6
Less than 12 months Fair Value	0	80
Less than 12 months Unrealized Losses	0	6
12 months or longer Fair Value	46	0
12 months or longer Unrealized Losses	7	0
Dollar-denominated | Fixed maturities | Public utilities
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	1,216	2,127
Total Unrealized Losses	76	221
Less than 12 months Fair Value	283	1,689
Less than 12 months Unrealized Losses	12	132
12 months or longer Fair Value	933	438
12 months or longer Unrealized Losses	64	89
Dollar-denominated | Fixed maturities | Banks/financial institutions
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	148	366
Total Unrealized Losses	16	21
Less than 12 months Fair Value	78	348
Less than 12 months Unrealized Losses	6	11
12 months or longer Fair Value	70	18
12 months or longer Unrealized Losses	10	10
Dollar-denominated | Fixed maturities | Other corporate
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	8,556	13,430
Total Unrealized Losses	784	1,302
Less than 12 months Fair Value	3,203	11,068
Less than 12 months Unrealized Losses	255	770
12 months or longer Fair Value	5,353	2,362
12 months or longer Unrealized Losses	529	532
Dollar-denominated | Perpetual securities
Investments, Unrealized Loss Position [Line Items]
Total Fair Value		6
Total Unrealized Losses		1
Less than 12 months Fair Value		0
Less than 12 months Unrealized Losses		0
12 months or longer Fair Value		6
12 months or longer Unrealized Losses		1
Dollar-denominated | Equity securities
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	268
Total Unrealized Losses	18
Less than 12 months Fair Value	268
Less than 12 months Unrealized Losses	18
12 months or longer Fair Value	0
12 months or longer Unrealized Losses	0
Yen-denominated | Fixed maturities | Public utilities
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	823	1,487
Total Unrealized Losses	23	104
Less than 12 months Fair Value	182	1,062
Less than 12 months Unrealized Losses	13	73
12 months or longer Fair Value	641	425
12 months or longer Unrealized Losses	10	31
Yen-denominated | Fixed maturities | Sovereign and supranational
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	236	580
Total Unrealized Losses	7	26
Less than 12 months Fair Value	0	385
Less than 12 months Unrealized Losses	0	13
12 months or longer Fair Value	236	195
12 months or longer Unrealized Losses	7	13
Yen-denominated | Fixed maturities | Banks/financial institutions
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	1,428	2,350
Total Unrealized Losses	151	158
Less than 12 months Fair Value	240	1,147
Less than 12 months Unrealized Losses	3	14
12 months or longer Fair Value	1,188	1,203
12 months or longer Unrealized Losses	148	144
Yen-denominated | Fixed maturities | Other corporate
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	970	1,151
Total Unrealized Losses	63	77
Less than 12 months Fair Value	327	343
Less than 12 months Unrealized Losses	18	5
12 months or longer Fair Value	643	808
12 months or longer Unrealized Losses	45	72
Yen-denominated | Perpetual securities
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	989	645
Total Unrealized Losses	199	93
Less than 12 months Fair Value	500	216
Less than 12 months Unrealized Losses	42	12
12 months or longer Fair Value	489	429
12 months or longer Unrealized Losses	157	81
Yen-denominated | Equity securities
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	411	191
Total Unrealized Losses	76	4
Less than 12 months Fair Value	411	191
Less than 12 months Unrealized Losses	76	4
12 months or longer Fair Value	0	0
12 months or longer Unrealized Losses	$ 0	$ 0

INVESTMENTS - Composition of In

INVESTMENTS - Composition of Investments in Unrealized Loss Position (Detail)	Jun. 30, 2016	Dec. 31, 2015
Investments, Unrealized Loss Position [Line Items]
Percentage of Total Investments in an Unrealized Loss Position	100.00%	100.00%
Percentage of Total Unrealized Losses	100.00%	100.00%
Fixed maturities
Investments, Unrealized Loss Position [Line Items]
Percentage of Total Investments in an Unrealized Loss Position	89.00%	97.00%
Percentage of Total Unrealized Losses	79.00%	95.00%
Perpetual securities
Investments, Unrealized Loss Position [Line Items]
Percentage of Total Investments in an Unrealized Loss Position	7.00%	3.00%
Percentage of Total Unrealized Losses	14.00%	5.00%
Equity securities
Investments, Unrealized Loss Position [Line Items]
Percentage of Total Investments in an Unrealized Loss Position	4.00%	0.00%
Percentage of Total Unrealized Losses	7.00%	0.00%
Public utilities | Fixed maturities
Investments, Unrealized Loss Position [Line Items]
Percentage of Total Investments in an Unrealized Loss Position	13.00%	16.00%
Percentage of Total Unrealized Losses	7.00%	16.00%
Sovereign and supranational | Fixed maturities
Investments, Unrealized Loss Position [Line Items]
Percentage of Total Investments in an Unrealized Loss Position	2.00%	3.00%
Percentage of Total Unrealized Losses	1.00%	1.00%
Banks/financial institutions | Fixed maturities
Investments, Unrealized Loss Position [Line Items]
Percentage of Total Investments in an Unrealized Loss Position	11.00%	12.00%
Percentage of Total Unrealized Losses	12.00%	9.00%
Other corporate | Fixed maturities
Investments, Unrealized Loss Position [Line Items]
Percentage of Total Investments in an Unrealized Loss Position	63.00%	66.00%
Percentage of Total Unrealized Losses	59.00%	69.00%
Investment Grade | Perpetual securities
Investments, Unrealized Loss Position [Line Items]
Percentage of unrealized losses attributable to securities that were investment grade	100.00%	100.00%
Investment Grade | Public utilities | Fixed maturities
Investments, Unrealized Loss Position [Line Items]
Percentage of unrealized losses attributable to securities that were investment grade	88.00%	93.00%
Investment Grade | Sovereign and supranational | Fixed maturities
Investments, Unrealized Loss Position [Line Items]
Percentage of unrealized losses attributable to securities that were investment grade	100.00%	100.00%
Investment Grade | Banks/financial institutions | Fixed maturities
Investments, Unrealized Loss Position [Line Items]
Percentage of unrealized losses attributable to securities that were investment grade	36.00%	59.00%
Investment Grade | Other corporate | Fixed maturities
Investments, Unrealized Loss Position [Line Items]
Percentage of unrealized losses attributable to securities that were investment grade	47.00%	86.00%

INVESTMENTS - Investments in Co

INVESTMENTS - Investments in Consolidated Variable Interest Entities (Detail) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Variable Interest Entity [Line Items]
Other Investments, amortized cost	$ 622	$ 294
Asset derivatives	1,963	676
Assets, fair value	89,185	72,996
Liability derivatives	542	371
Liabilities	118,737	100,548
Liabilities, fair value disclosure	542	371
Variable Interest Entity, Consolidated
Variable Interest Entity [Line Items]
Securities available for sale, fixed maturities, amortized cost	4,878	3,739
Securities available for sale, fixed maturities, fair value	5,493	4,554
Securities available for sale, perpetual securities, amortized cost	267	255
Securities available for sale, perpetual securities, fair value	197	228
Available-for-sale equity securities, amortized cost basis	1,018	363
Available-for-sale securities, equity securities	941	363
Other Investments, amortized cost	165	0
Other investments, fair value	169	0
Asset derivative, amortized cost	177	102
Asset derivatives	177	102
Assets, amortized cost	6,505	4,459
Assets, fair value	6,977	5,247
Liability derivatives, amortized cost	117	293
Liability derivatives	117	293
Liabilities	117	293
Liabilities, fair value disclosure	$ 117	$ 293

INVESTMENTS - Investments in Va

INVESTMENTS - Investments in Variable Interest Entities Not Consolidated (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Variable Interest Entity [Line Items]
Securities held to maturity, fixed maturities, amortized cost	$ 38,346	$ 33,459
Securities held to maturity, fixed maturities, fair value	48,796	37,520
Assets, fair value	89,185	72,996
Variable Interest Entity, Not Consolidated
Variable Interest Entity [Line Items]
Securities available for sale, fixed maturities, amortized cost	5,158	4,731
Securities available for sale, fixed maturities, fair value	5,656	5,093
Securities available for sale, perpetual securities, amortized cost	292	249
Securities available for sale, perpetual securities, fair value	279	253
Securities held to maturity, fixed maturities, amortized cost	2,902	2,477
Securities held to maturity, fixed maturities, fair value	3,336	2,636
Assets, amortized cost	8,352	7,457
Assets, fair value	$ 9,271	$ 7,982

INVESTMENTS - Securities Lendin

INVESTMENTS - Securities Lending Transactions Accounted for as Secured Borrowings (Details) - USD ($) $ in Millions		Jun. 30, 2016	Dec. 31, 2015
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending transactions		$ 826	$ 941
Gross amount of recognized liabilities for securities lending		826	941
Amounts related to agreements not included in offsetting disclosure in Note 4		0	0
Japan government and agencies
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending transactions		372	499
Public utilities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending transactions		104	108
Banks/financial institutions
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending transactions		24	13
Other corporate
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending transactions		326	321
Maturity Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending transactions	[1]	454	442
Maturity Overnight and Continuous | Japan government and agencies
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending transactions	[1]	0	0
Maturity Overnight and Continuous | Public utilities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending transactions	[1]	104	108
Maturity Overnight and Continuous | Banks/financial institutions
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending transactions	[1]	24	13
Maturity Overnight and Continuous | Other corporate
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending transactions	[1]	326	321
Maturity up to 30 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending transactions		372	499
Maturity up to 30 Days | Japan government and agencies
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending transactions		372	499
Maturity up to 30 Days | Public utilities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending transactions		0	0
Maturity up to 30 Days | Banks/financial institutions
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending transactions		0	0
Maturity up to 30 Days | Other corporate
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending transactions		$ 0	$ 0
[1]	These securities are pledged as collateral under our U.S. securities lending program and can be called at our discretion; therefore, they are classified as Overnight and Continuous.

DERIVATIVE INSTRUMENTS - Additi

DERIVATIVE INSTRUMENTS - Additional Information (Detail) ¥ in Billions	3 Months Ended			6 Months Ended
	Jun. 30, 2016USD ($)counterpartiescurrency		Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)counterpartiescurrency		Jun. 30, 2015USD ($)	Jul. 31, 2016USD ($)	Jun. 30, 2016JPY (¥)counterpartiescurrency	Dec. 31, 2015USD ($)
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Derivative, collateral, right to reclaim cash	$ 259,000,000	[1]		$ 259,000,000	[1]				$ 3,000,000
Hedging activity, weighted-average period (in years)				10 years
Number of currencies related to foreign currency swaps | currency	1			1				1
Number of counterparties | counterparties	15			15				15
Number of counterparties that comprise majority of aggregate notional amount of swaps | counterparties	5			5				5
Percentage of notional amount of swaps from certain number of counterparties	62.00%			62.00%				62.00%
Collateral Already Posted, Aggregate Fair Value	$ 259,000,000			$ 259,000,000					20,000,000
Derivative, collateral, right to reclaim securities									17,000,000
Derivative, Net Liability Position, Aggregate Fair Value	248,000,000			248,000,000					26,000,000
Collateral obtained from third parties	1,747,000,000			1,747,000,000					412,000,000
Notional Amount of Derivatives	23,106,000,000			23,106,000,000					22,127,000,000
Foreign currency forwards
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Derivative, collateral, right to reclaim cash	95,000,000			95,000,000
Non-qualifying strategies
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Notional Amount of Derivatives	6,873,000,000			6,873,000,000					6,693,000,000
Derivative, Gain (Loss) on Derivative, Net	(95,000,000)		$ 56,000,000	(73,000,000)		$ 3,000,000
Non-qualifying strategies | Foreign currency forwards
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Notional Amount of Derivatives	107,000,000			107,000,000					11,000,000
Derivative, Gain (Loss) on Derivative, Net	10,000,000		(1,000,000)	21,000,000		(1,000,000)
Net investment hedge
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	0		$ 0	0		$ 0
Notional Amount of Derivatives	1,556,000,000			1,556,000,000					1,029,000,000
Net investment hedge | Foreign currency forwards
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Notional Amount of Derivatives	846,000,000			846,000,000					763,000,000
Cash flow hedges
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Notional Amount of Derivatives	75,000,000			75,000,000					$ 75,000,000
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	1,000,000			1,000,000
3.625% senior notes due November 2024
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Debt instrument, principal amount	750,000,000			750,000,000
3.25% senior notes due March 2025
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Debt instrument, principal amount	450,000,000			450,000,000
3.625% senior notes due June 2023
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Debt instrument, principal amount	700,000,000			700,000,000
2.65% senior notes due February 2017
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Debt instrument, principal amount	400,000,000			400,000,000
2.40% senior notes due March 2020
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Debt instrument, principal amount	550,000,000			550,000,000
4.00% senior notes due February 2022
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Debt instrument, principal amount	350,000,000			350,000,000
5.50% subordinated notes due September 2052
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Debt instrument, principal amount	$ 500,000,000			$ 500,000,000
February twenty fifteen profit repatriation | Foreign currency forwards and options
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Notional Amount of Derivatives | ¥								¥ 25
July twenty sixteen profit repatriation | Foreign currency forwards and options
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Notional Amount of Derivatives | ¥								51.1
Future profit repatriation | Foreign currency forwards and options
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Notional Amount of Derivatives | ¥								¥ 109
Subsequent Event | Bank loans | Foreign currency forwards
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Notional Amount of Derivatives							$ 1,900,000,000
Subsequent Event | U.S. dollar-denominated equities | Foreign currency forwards
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Notional Amount of Derivatives							$ 457,000,000
[1]	Consists entirely of cash.

DERIVATIVE INSTRUMENTS - Fair V

DERIVATIVE INSTRUMENTS - Fair Value and Notional Amounts of Derivatives With Counterparty Credit Risk (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Notional Amount of Derivatives	$ 23,106	$ 22,127
Asset Derivatives Fair Value	1,963	676
Liability Derivatives Fair Value	(542)	(371)
AA
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Notional Amount of Derivatives	2,875	2,187
Asset Derivatives Fair Value	173	166
Liability Derivatives Fair Value	(126)	(35)
A
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Notional Amount of Derivatives	19,131	19,940
Asset Derivatives Fair Value	1,691	510
Liability Derivatives Fair Value	(352)	(336)
BBB
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Notional Amount of Derivatives	1,100	0
Asset Derivatives Fair Value	99	0
Liability Derivatives Fair Value	$ (64)	$ 0

DERIVATIVE INSTRUMENTS - Summar

DERIVATIVE INSTRUMENTS - Summary of Balance Sheet Classification of Derivative Fair Value Amounts, as well as Gross Asset and Liability Fair Value Amounts (Detail) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Net Derivatives Notional Amount	$ 23,106	$ 22,127
Net Derivatives Fair Value	1,421	305
Asset derivatives fair value	1,963	676
Liability Derivatives Fair Value	(542)	(371)
Other assets
Derivatives, Fair Value [Line Items]
Net Derivatives Notional Amount	18,388	11,413
Net Derivatives Fair Value	1,963	676
Asset derivatives fair value	1,963	676
Liability Derivatives Fair Value	0	0
Other liabilities
Derivatives, Fair Value [Line Items]
Net Derivatives Notional Amount	4,718	10,714
Net Derivatives Fair Value	(542)	(371)
Asset derivatives fair value	0	0
Liability Derivatives Fair Value	(542)	(371)
Foreign currency swaps
Derivatives, Fair Value [Line Items]
Asset derivatives fair value	492	563
Liability Derivatives Fair Value	(396)	(314)
Foreign currency forwards
Derivatives, Fair Value [Line Items]
Asset derivatives fair value	1,459	107
Liability Derivatives Fair Value	(93)	(49)
Foreign currency options
Derivatives, Fair Value [Line Items]
Asset derivatives fair value	11	5
Liability Derivatives Fair Value	(53)	(8)
Credit default swaps
Derivatives, Fair Value [Line Items]
Asset derivatives fair value	1	1
Cash flow hedges
Derivatives, Fair Value [Line Items]
Net Derivatives Notional Amount	75	75
Net Derivatives Fair Value	(1)	(15)
Asset derivatives fair value	1	0
Liability Derivatives Fair Value	(2)	(15)
Cash flow hedges | Foreign currency swaps
Derivatives, Fair Value [Line Items]
Net Derivatives Notional Amount	75	75
Net Derivatives Fair Value	(1)	(15)
Asset derivatives fair value	1	0
Liability Derivatives Fair Value	(2)	(15)
Fair value hedges
Derivatives, Fair Value [Line Items]
Net Derivatives Notional Amount	14,602	14,330
Net Derivatives Fair Value	1,448	45
Asset derivatives fair value	1,449	88
Liability Derivatives Fair Value	(1)	(43)
Fair value hedges | Foreign currency forwards
Derivatives, Fair Value [Line Items]
Net Derivatives Notional Amount	12,917	13,080
Net Derivatives Fair Value	1,442	45
Asset derivatives fair value	1,442	88
Liability Derivatives Fair Value	0	(43)
Fair value hedges | Foreign currency options
Derivatives, Fair Value [Line Items]
Net Derivatives Notional Amount	1,685	1,250
Net Derivatives Fair Value	6	0
Asset derivatives fair value	7	0
Liability Derivatives Fair Value	(1)	0
Net investment hedge
Derivatives, Fair Value [Line Items]
Net Derivatives Notional Amount	1,556	1,029
Net Derivatives Fair Value	(141)	10
Asset derivatives fair value	4	24
Liability Derivatives Fair Value	(145)	(14)
Net investment hedge | Foreign currency forwards
Derivatives, Fair Value [Line Items]
Net Derivatives Notional Amount	846	763
Net Derivatives Fair Value	(93)	13
Asset derivatives fair value	0	19
Liability Derivatives Fair Value	(93)	(6)
Net investment hedge | Foreign currency options
Derivatives, Fair Value [Line Items]
Net Derivatives Notional Amount	710	266
Net Derivatives Fair Value	(48)	(3)
Asset derivatives fair value	4	5
Liability Derivatives Fair Value	(52)	(8)
Non-qualifying strategies
Derivatives, Fair Value [Line Items]
Net Derivatives Notional Amount	6,873	6,693
Net Derivatives Fair Value	115	265
Asset derivatives fair value	509	564
Liability Derivatives Fair Value	(394)	(299)
Non-qualifying strategies | Foreign currency swaps
Derivatives, Fair Value [Line Items]
Net Derivatives Notional Amount	6,669	6,599
Net Derivatives Fair Value	97	264
Asset derivatives fair value	491	563
Liability Derivatives Fair Value	(394)	(299)
Non-qualifying strategies | Foreign currency forwards
Derivatives, Fair Value [Line Items]
Net Derivatives Notional Amount	107	11
Net Derivatives Fair Value	17	0
Asset derivatives fair value	17	0
Liability Derivatives Fair Value	0	0
Non-qualifying strategies | Credit default swaps
Derivatives, Fair Value [Line Items]
Net Derivatives Notional Amount	97	83
Net Derivatives Fair Value	1	1
Asset derivatives fair value	1	1
Liability Derivatives Fair Value	$ 0	$ 0

DERIVATIVE INSTRUMENTS - Gains

DERIVATIVE INSTRUMENTS - Gains (Losses) Recognized on Fair Value Hedging Relationships (Details) - Fixed maturities - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Foreign currency forwards
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses) recognized for derivatives	$ 1,156	$ (267)	$ 2,013	$ (230)
Gains (losses) on derivatives excluded from effectiveness testing	(48)	(17)	(92)	(32)
Gains (losses) on derivatives included in effectiveness testing	1,204	(250)	2,105	(198)
Gains (losses) recognized for hedged items	(1,236)	244	(2,118)	205
Ineffectiveness recognized for fair value hedge	(32)	(6)	(13)	7
Foreign currency options
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses) recognized for derivatives	7	(5)	6	(3)
Gains (losses) on derivatives excluded from effectiveness testing	7	1	6	4
Gains (losses) on derivatives included in effectiveness testing	0	(6)	0	(7)
Gains (losses) recognized for hedged items	0	6	0	7
Ineffectiveness recognized for fair value hedge	$ 0	0	$ 0	0
Interest rate swaptions
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses) recognized for derivatives		(4)		(95)
Gains (losses) on derivatives excluded from effectiveness testing		0		19
Gains (losses) on derivatives included in effectiveness testing		(4)		(114)
Gains (losses) recognized for hedged items		5		99
Ineffectiveness recognized for fair value hedge		$ 1		$ (15)

DERIVATIVE INSTRUMENTS - Deriva

DERIVATIVE INSTRUMENTS - Derivatives and Hedging Instruments Gain (Loss) Summary (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized foreign currency translation gains (losses) during period		$ 899	$ (170)	$ 1,588	$ (161)
Derivative and other gains (losses)		(167)	35	(171)	(14)
Derivative and non-derivative hedging instruments gain loss recognized in other comprehensive income effective portion before tax	[1]	(112)	40	(190)	37
Cash flow hedges
Derivative Instruments, Gain (Loss) [Line Items]
Net Realized Investment Gains (Losses) Recognized in Income on Derivative (Ineffective Portion)		1	0	1	0
Gain (Loss) Recognized in Other Comprehensive Income on Derivative (Effective Portion)	[1]	8	2	11	(2)
Cash flow hedges | Foreign currency swaps
Derivative Instruments, Gain (Loss) [Line Items]
Net Realized Investment Gains (Losses) Recognized in Income on Derivative (Ineffective Portion)		1	0	1	0
Gain (Loss) Recognized in Other Comprehensive Income on Derivative (Effective Portion)	[1]	8	2	11	(2)
Fair value hedges
Derivative Instruments, Gain (Loss) [Line Items]
Net Realized Investment Gains (Losses) Recognized in Income on Derivative (Ineffective Portion)		(73)	(21)	(99)	(17)
Gain (Loss) Recognized in Other Comprehensive Income on Derivative (Effective Portion)	[1]	0	0	0	0
Fair value hedges | Foreign currency forwards
Derivative Instruments, Gain (Loss) [Line Items]
Net Realized Investment Gains (Losses) Recognized in Income on Derivative (Ineffective Portion)	[2]	(80)	(23)	(105)	(25)
Gain (Loss) Recognized in Other Comprehensive Income on Derivative (Effective Portion)	[1],[2]	0	0	0	0
Fair value hedges | Foreign currency options
Derivative Instruments, Gain (Loss) [Line Items]
Net Realized Investment Gains (Losses) Recognized in Income on Derivative (Ineffective Portion)	[2]	7	1	6	4
Gain (Loss) Recognized in Other Comprehensive Income on Derivative (Effective Portion)	[1],[2]	0	0	0	0
Fair value hedges | Interest rate swaptions
Derivative Instruments, Gain (Loss) [Line Items]
Net Realized Investment Gains (Losses) Recognized in Income on Derivative (Ineffective Portion)	[2]	0	1	0	4
Gain (Loss) Recognized in Other Comprehensive Income on Derivative (Effective Portion)	[1],[2]	0	0	0	0
Net investment hedge
Derivative Instruments, Gain (Loss) [Line Items]
Net Realized Investment Gains (Losses) Recognized in Income on Derivative (Ineffective Portion)		0	0	0	0
Unrealized foreign currency translation gains (losses) during period	[1]	(120)	38	(201)	39
Net investment hedge | Foreign currency forwards
Derivative Instruments, Gain (Loss) [Line Items]
Net Realized Investment Gains (Losses) Recognized in Income on Derivative (Ineffective Portion)		0	0	0	0
Unrealized foreign currency translation gains (losses) during period	[1]	(83)	32	(133)	34
Net investment hedge | Foreign currency options
Derivative Instruments, Gain (Loss) [Line Items]
Net Realized Investment Gains (Losses) Recognized in Income on Derivative (Ineffective Portion)		0	0	0	0
Unrealized foreign currency translation gains (losses) during period	[1]	(15)	0	(31)	0
Net investment hedge | Non-derivative hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Net Realized Investment Gains (Losses) Recognized in Income on Derivative (Ineffective Portion)		0	0	0	0
Unrealized foreign currency translation gains (losses) during period	[1]	(22)	6	(37)	5
Non-qualifying strategies
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Income, Net		(95)	56	(73)	3
Gain (Loss) Recognized in Other Comprehensive Income on Derivative (Effective Portion)	[1]	0	0	0	0
Non-qualifying strategies | Foreign currency swaps
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Income, Net		(104)	55	(94)	(2)
Gain (Loss) Recognized in Other Comprehensive Income on Derivative (Effective Portion)	[1]	0	0	0	0
Non-qualifying strategies | Foreign currency forwards
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Income, Net		10	(1)	21	(1)
Gain (Loss) Recognized in Other Comprehensive Income on Derivative (Effective Portion)	[1]	0	0	0	0
Non-qualifying strategies | Credit default swaps
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Income, Net		(1)	0	0	1
Gain (Loss) Recognized in Other Comprehensive Income on Derivative (Effective Portion)	[1]	0	0	0	0
Non-qualifying strategies | Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Income, Net		0	2	0	5
Gain (Loss) Recognized in Other Comprehensive Income on Derivative (Effective Portion)	[1]	$ 0	$ 0	$ 0	$ 0
[1]	Cash flow hedge items are recorded as unrealized gains (losses) on derivatives and net investment hedge items are recorded in the unrealized foreign currency translation gains (losses) line in the consolidated statement of comprehensive income (loss)
[2]	Impact shown net of effect of hedged items (see Fair Value Hedges section of this Note 4 for further detail)

DERIVATIVE INSTRUMENTS - Offset

DERIVATIVE INSTRUMENTS - Offsetting of Financial Assets and Derivative Assets (Details) - USD ($) $ in Millions	Jun. 30, 2016		Dec. 31, 2015
Offsetting Assets [Line Items]
Gross amount of recognized derivative assets	$ 1,963		$ 676
Gross amount of liabilities offset in balance sheet	0		0
Net amount of derivative assets presented in balance sheet	1,963		676
Financial instruments, amount not offset against derivative assets in balance sheet	0		0
Derivative, collateral, obligation to return cash and securities	(1,747)	[1]	(412)	[2]
Derivative asset, fair value, amount offset against collateral	216		264
Derivative, collateral, obligation to return securities	(1,509)		(86)
Derivative, Collateral, Obligation to Return Cash	(238)		(326)
Foreign currency swaps
Offsetting Assets [Line Items]
Gross amount of recognized derivative assets	492		563
Gross amount of liabilities offset in balance sheet	0		0
Net amount of derivative assets presented in balance sheet	492		563
Financial instruments, amount not offset against derivative assets in balance sheet	0		0
Derivative, collateral, obligation to return cash and securities	(187)		(313)
Derivative asset, fair value, amount offset against collateral	305		250
Foreign currency forwards
Offsetting Assets [Line Items]
Gross amount of recognized derivative assets	1,459		107
Gross amount of liabilities offset in balance sheet	0		0
Net amount of derivative assets presented in balance sheet	1,459		107
Financial instruments, amount not offset against derivative assets in balance sheet	0		0
Derivative, collateral, obligation to return cash and securities	(1,554)		(96)
Derivative asset, fair value, amount offset against collateral	(95)		11
Foreign currency options
Offsetting Assets [Line Items]
Gross amount of recognized derivative assets	11		5
Gross amount of liabilities offset in balance sheet	0		0
Net amount of derivative assets presented in balance sheet	11		5
Financial instruments, amount not offset against derivative assets in balance sheet	0		0
Derivative, collateral, obligation to return cash and securities	(6)		(3)
Derivative asset, fair value, amount offset against collateral	5		2
Credit default swaps
Offsetting Assets [Line Items]
Gross amount of recognized derivative assets	1		1
Gross amount of liabilities offset in balance sheet	0		0
Net amount of derivative assets presented in balance sheet	1		1
Financial instruments, amount not offset against derivative assets in balance sheet	0		0
Derivative, collateral, obligation to return cash and securities	0		0
Derivative asset, fair value, amount offset against collateral	1		1
Offsetting assets
Offsetting Assets [Line Items]
Gross amounts of recognized financial instruments	2,764		1,597
Gross amounts offset in balance sheet	0		0
Net amounts of assets presented in balance sheet	2,764		1,597
Carrying value of financial instruments not offset in balance sheet	0		0
Collateral not offset in balance sheet	(2,548)		(1,333)
Financial instruments, amount offset against collateral	216		264
Offsetting assets | Securities lending and similar arrangements
Offsetting Assets [Line Items]
Gross amounts of recognized financial instruments	801		921
Gross amounts offset in balance sheet	0		0
Net amounts of assets presented in balance sheet	801		921
Carrying value of financial instruments not offset in balance sheet	0		0
Collateral not offset in balance sheet	(801)		(921)
Financial instruments, amount offset against collateral	$ 0		$ 0
[1]	Consists of $1,509 of pledged securities and $238 of cash.
[2]	Consists of $86 of pledged securities and $326 of cash

DERIVATIVE INSTRUMENTS - Offs53

DERIVATIVE INSTRUMENTS - Offsetting of Financial Liabilities and Derivative Liabilities (Details) - USD ($) $ in Millions		Jun. 30, 2016		Dec. 31, 2015
Offsetting Liabilities [Line Items]
Gross amount of recognized derivative liabilities		$ (542)		$ (371)
Gross amount of assets offset in balance sheet		0		0
Net amount of derivative liabilities presented in balance sheet		(542)		(371)
Financial instruments, amount not offset against derivative liabilities in balance sheet		0		0
Derivative, collateral, right to reclaim cash		259	[1]	3
Derivative Liability, Fair Value, Amount Offset Against Collateral		(283)		(351)
Derivative, collateral, right to reclaim securities and cash	[2]			20
Derivative, collateral, right to reclaim securities				17
Foreign currency swaps
Offsetting Liabilities [Line Items]
Gross amount of recognized derivative liabilities		(396)		(314)
Gross amount of assets offset in balance sheet		0		0
Net amount of derivative liabilities presented in balance sheet		(396)		(314)
Financial instruments, amount not offset against derivative liabilities in balance sheet		0		0
Derivative, collateral, right to reclaim cash		111
Derivative Liability, Fair Value, Amount Offset Against Collateral		(285)		(313)
Derivative, collateral, right to reclaim securities and cash				1
Foreign currency forwards
Offsetting Liabilities [Line Items]
Gross amount of recognized derivative liabilities		(93)		(49)
Gross amount of assets offset in balance sheet		0		0
Net amount of derivative liabilities presented in balance sheet		(93)		(49)
Financial instruments, amount not offset against derivative liabilities in balance sheet		0		0
Derivative, collateral, right to reclaim cash		95
Derivative Liability, Fair Value, Amount Offset Against Collateral		2		(31)
Derivative, collateral, right to reclaim securities and cash				18
Foreign currency options
Offsetting Liabilities [Line Items]
Gross amount of recognized derivative liabilities		(53)		(8)
Gross amount of assets offset in balance sheet		0		0
Net amount of derivative liabilities presented in balance sheet		(53)		(8)
Financial instruments, amount not offset against derivative liabilities in balance sheet		0		0
Derivative, collateral, right to reclaim cash		53
Derivative Liability, Fair Value, Amount Offset Against Collateral		0		(7)
Derivative, collateral, right to reclaim securities and cash				1
Offsetting liabilities
Offsetting Liabilities [Line Items]
Gross amounts of recognized financial instruments		(1,368)		(1,312)
Gross amounts offset in balance sheet		0		0
Net amounts of liabilities presented in balance sheet		(1,368)		(1,312)
Carrying value of financial instruments not offset in balance sheet		801		921
Collateral not offset in balance sheet		259		20
Financial instruments, amount offset against collateral		(308)		(371)
Offsetting liabilities | Securities lending and similar arrangements
Offsetting Liabilities [Line Items]
Gross amounts of recognized financial instruments		(826)		(941)
Gross amounts offset in balance sheet		0		0
Net amounts of liabilities presented in balance sheet		(826)		(941)
Carrying value of financial instruments not offset in balance sheet		801		921
Collateral not offset in balance sheet		0		0
Financial instruments, amount offset against collateral		$ (25)		$ (20)
[1]	Consists entirely of cash.
[2]	Consists of $17 of pledged securities and $3 of cash

FAIR VALUE MEASUREMENTS - Fair

FAIR VALUE MEASUREMENTS - Fair Value Hierarchy Levels of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Assets:
Available-for-sale Securities	$ 83,315	$ 67,794
Asset derivatives	1,963	676
Other Investments	207	176
Cash and cash equivalents	3,700	4,350
Total assets	89,185	72,996
Liabilities:
Liability derivatives	542	371
Total liabilities	542	371
Foreign currency swaps
Assets:
Asset derivatives	492	563
Liabilities:
Liability derivatives	396	314
Foreign currency forwards
Assets:
Asset derivatives	1,459	107
Liabilities:
Liability derivatives	93	49
Foreign currency options
Assets:
Asset derivatives	11	5
Liabilities:
Liability derivatives	53	8
Credit default swaps
Assets:
Asset derivatives	1	1
Fixed maturities
Assets:
Available-for-sale Securities	80,286	65,349
Fixed maturities | Government and agencies
Assets:
Available-for-sale Securities	28,143	19,276
Fixed maturities | Municipalities
Assets:
Available-for-sale Securities	1,360	1,208
Fixed maturities | Mortgage- and asset-backed securities
Assets:
Available-for-sale Securities	1,138	582
Fixed maturities | Public utilities
Assets:
Available-for-sale Securities	8,327	7,479
Fixed maturities | Sovereign and supranational
Assets:
Available-for-sale Securities	1,565	1,407
Fixed maturities | Banks/financial institutions
Assets:
Available-for-sale Securities	6,226	6,019
Fixed maturities | Other corporate
Assets:
Available-for-sale Securities	33,527	29,378
Perpetual securities
Assets:
Available-for-sale Securities	1,832	1,947
Perpetual securities | Banks/financial institutions
Assets:
Available-for-sale Securities	1,598	1,742
Perpetual securities | Other corporate
Assets:
Available-for-sale Securities	234	205
Equity securities
Assets:
Available-for-sale Securities	1,197	498
Level 1
Assets:
Available-for-sale Securities	28,472	19,158
Asset derivatives	0	0
Other Investments	207	176
Cash and cash equivalents	3,700	4,350
Total assets	32,379	23,684
Liabilities:
Total liabilities	0	0
Level 1 | Foreign currency swaps
Assets:
Asset derivatives	0	0
Liabilities:
Liability derivatives	0	0
Level 1 | Foreign currency forwards
Assets:
Asset derivatives	0	0
Liabilities:
Liability derivatives	0	0
Level 1 | Foreign currency options
Assets:
Asset derivatives	0	0
Liabilities:
Liability derivatives	0	0
Level 1 | Credit default swaps
Assets:
Asset derivatives	0	0
Level 1 | Fixed maturities
Assets:
Available-for-sale Securities	27,284	18,669
Level 1 | Fixed maturities | Government and agencies
Assets:
Available-for-sale Securities	27,284	18,669
Level 1 | Fixed maturities | Municipalities
Assets:
Available-for-sale Securities	0	0
Level 1 | Fixed maturities | Mortgage- and asset-backed securities
Assets:
Available-for-sale Securities	0	0
Level 1 | Fixed maturities | Public utilities
Assets:
Available-for-sale Securities	0	0
Level 1 | Fixed maturities | Sovereign and supranational
Assets:
Available-for-sale Securities	0	0
Level 1 | Fixed maturities | Banks/financial institutions
Assets:
Available-for-sale Securities	0	0
Level 1 | Fixed maturities | Other corporate
Assets:
Available-for-sale Securities	0	0
Level 1 | Perpetual securities
Assets:
Available-for-sale Securities	0	0
Level 1 | Perpetual securities | Banks/financial institutions
Assets:
Available-for-sale Securities	0	0
Level 1 | Perpetual securities | Other corporate
Assets:
Available-for-sale Securities	0	0
Level 1 | Equity securities
Assets:
Available-for-sale Securities	1,188	489
Level 2
Assets:
Available-for-sale Securities	54,562	48,387
Asset derivatives	1,786	574
Other Investments	0	0
Cash and cash equivalents	0	0
Total assets	56,348	48,961
Liabilities:
Total liabilities	425	78
Level 2 | Foreign currency swaps
Assets:
Asset derivatives	316	462
Liabilities:
Liability derivatives	279	21
Level 2 | Foreign currency forwards
Assets:
Asset derivatives	1,459	107
Liabilities:
Liability derivatives	93	49
Level 2 | Foreign currency options
Assets:
Asset derivatives	11	5
Liabilities:
Liability derivatives	53	8
Level 2 | Credit default swaps
Assets:
Asset derivatives	0	0
Level 2 | Fixed maturities
Assets:
Available-for-sale Securities	52,724	46,434
Level 2 | Fixed maturities | Government and agencies
Assets:
Available-for-sale Securities	859	607
Level 2 | Fixed maturities | Municipalities
Assets:
Available-for-sale Securities	1,360	1,208
Level 2 | Fixed maturities | Mortgage- and asset-backed securities
Assets:
Available-for-sale Securities	886	362
Level 2 | Fixed maturities | Public utilities
Assets:
Available-for-sale Securities	8,327	7,479
Level 2 | Fixed maturities | Sovereign and supranational
Assets:
Available-for-sale Securities	1,565	1,407
Level 2 | Fixed maturities | Banks/financial institutions
Assets:
Available-for-sale Securities	6,200	5,993
Level 2 | Fixed maturities | Other corporate
Assets:
Available-for-sale Securities	33,527	29,378
Level 2 | Perpetual securities
Assets:
Available-for-sale Securities	1,832	1,947
Level 2 | Perpetual securities | Banks/financial institutions
Assets:
Available-for-sale Securities	1,598	1,742
Level 2 | Perpetual securities | Other corporate
Assets:
Available-for-sale Securities	234	205
Level 2 | Equity securities
Assets:
Available-for-sale Securities	6	6
Level 3
Assets:
Available-for-sale Securities	281	249
Asset derivatives	177	102
Other Investments	0	0
Cash and cash equivalents	0	0
Total assets	458	351
Liabilities:
Total liabilities	117	293
Level 3 | Foreign currency swaps
Assets:
Asset derivatives	176	101
Liabilities:
Liability derivatives	117	293
Level 3 | Foreign currency forwards
Assets:
Asset derivatives	0	0
Liabilities:
Liability derivatives	0	0
Level 3 | Foreign currency options
Assets:
Asset derivatives	0	0
Liabilities:
Liability derivatives	0	0
Level 3 | Credit default swaps
Assets:
Asset derivatives	1	1
Level 3 | Fixed maturities
Assets:
Available-for-sale Securities	278	246
Level 3 | Fixed maturities | Government and agencies
Assets:
Available-for-sale Securities	0	0
Level 3 | Fixed maturities | Municipalities
Assets:
Available-for-sale Securities	0	0
Level 3 | Fixed maturities | Mortgage- and asset-backed securities
Assets:
Available-for-sale Securities	252	220
Level 3 | Fixed maturities | Public utilities
Assets:
Available-for-sale Securities	0	0
Level 3 | Fixed maturities | Sovereign and supranational
Assets:
Available-for-sale Securities	0	0
Level 3 | Fixed maturities | Banks/financial institutions
Assets:
Available-for-sale Securities	26	26
Level 3 | Fixed maturities | Other corporate
Assets:
Available-for-sale Securities	0	0
Level 3 | Perpetual securities
Assets:
Available-for-sale Securities	0	0
Level 3 | Perpetual securities | Banks/financial institutions
Assets:
Available-for-sale Securities	0	0
Level 3 | Perpetual securities | Other corporate
Assets:
Available-for-sale Securities	0	0
Level 3 | Equity securities
Assets:
Available-for-sale Securities	$ 3	$ 3

FAIR VALUE MEASUREMENTS - Fai55

FAIR VALUE MEASUREMENTS - Fair Value Hierarchy Levels of Assets and Liabilities Carried at Cost or Amortized Cost (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Assets:
Securities held to maturity, fixed maturities, amortized cost	$ 38,346	$ 33,459
Securities held to maturity, fixed maturities, fair value	48,796	37,520
Other investments carried at amortized cost	415	118
Other investments carried at amortized cost, fair value	421	118
Total financial instruments assets not carried at fair value	38,761	33,577
Assets fair value disclosure financial instruments carried at cost	49,217	37,638
Liabilities
Other policyholder funds	7,468	6,285
Other policyholders' funds fair value disclosure	7,327	6,160
Notes payable	4,987	4,991
Notes payable fair value disclosure	5,522	5,285
Total financial instrument liabilities not carried at fair value	12,455	11,276
Liabilities fair value disclosure financial instruments carried at cost	12,849	11,445
Fixed maturities
Assets:
Securities held to maturity, fixed maturities, fair value	48,796	37,520
Government and agencies | Fixed maturities
Assets:
Securities held to maturity, fixed maturities, amortized cost	23,440	20,004
Securities held to maturity, fixed maturities, fair value	32,076	23,391
Municipalities | Fixed maturities
Assets:
Securities held to maturity, fixed maturities, amortized cost	398	341
Securities held to maturity, fixed maturities, fair value	565	415
Mortgage- and asset-backed securities | Fixed maturities
Assets:
Securities held to maturity, fixed maturities, amortized cost	39	36
Securities held to maturity, fixed maturities, fair value	41	38
Public utilities | Fixed maturities
Assets:
Securities held to maturity, fixed maturities, amortized cost	3,623	3,092
Securities held to maturity, fixed maturities, fair value	4,028	3,203
Sovereign and supranational | Fixed maturities
Assets:
Securities held to maturity, fixed maturities, amortized cost	2,994	2,555
Securities held to maturity, fixed maturities, fair value	3,391	2,711
Banks/financial institutions | Fixed maturities
Assets:
Securities held to maturity, fixed maturities, amortized cost	4,659	4,431
Securities held to maturity, fixed maturities, fair value	4,920	4,546
Other corporate | Fixed maturities
Assets:
Securities held to maturity, fixed maturities, amortized cost	3,193	3,000
Securities held to maturity, fixed maturities, fair value	3,775	3,216
Level 1
Assets:
Other investments carried at amortized cost, fair value	0	0
Assets fair value disclosure financial instruments carried at cost	32,076	23,391
Liabilities
Other policyholders' funds fair value disclosure	0	0
Notes payable fair value disclosure	0	0
Liabilities fair value disclosure financial instruments carried at cost	0	0
Level 1 | Fixed maturities
Assets:
Securities held to maturity, fixed maturities, fair value	32,076	23,391
Level 1 | Government and agencies | Fixed maturities
Assets:
Securities held to maturity, fixed maturities, fair value	32,076	23,391
Level 1 | Municipalities | Fixed maturities
Assets:
Securities held to maturity, fixed maturities, fair value	0	0
Level 1 | Mortgage- and asset-backed securities | Fixed maturities
Assets:
Securities held to maturity, fixed maturities, fair value	0	0
Level 1 | Public utilities | Fixed maturities
Assets:
Securities held to maturity, fixed maturities, fair value	0	0
Level 1 | Sovereign and supranational | Fixed maturities
Assets:
Securities held to maturity, fixed maturities, fair value	0	0
Level 1 | Banks/financial institutions | Fixed maturities
Assets:
Securities held to maturity, fixed maturities, fair value	0	0
Level 1 | Other corporate | Fixed maturities
Assets:
Securities held to maturity, fixed maturities, fair value	0	0
Level 2
Assets:
Other investments carried at amortized cost, fair value	0	0
Assets fair value disclosure financial instruments carried at cost	16,692	14,103
Liabilities
Other policyholders' funds fair value disclosure	0	0
Notes payable fair value disclosure	0	0
Liabilities fair value disclosure financial instruments carried at cost	0	0
Level 2 | Fixed maturities
Assets:
Securities held to maturity, fixed maturities, fair value	16,692	14,103
Level 2 | Government and agencies | Fixed maturities
Assets:
Securities held to maturity, fixed maturities, fair value	0	0
Level 2 | Municipalities | Fixed maturities
Assets:
Securities held to maturity, fixed maturities, fair value	565	415
Level 2 | Mortgage- and asset-backed securities | Fixed maturities
Assets:
Securities held to maturity, fixed maturities, fair value	13	12
Level 2 | Public utilities | Fixed maturities
Assets:
Securities held to maturity, fixed maturities, fair value	4,028	3,203
Level 2 | Sovereign and supranational | Fixed maturities
Assets:
Securities held to maturity, fixed maturities, fair value	3,391	2,711
Level 2 | Banks/financial institutions | Fixed maturities
Assets:
Securities held to maturity, fixed maturities, fair value	4,920	4,546
Level 2 | Other corporate | Fixed maturities
Assets:
Securities held to maturity, fixed maturities, fair value	3,775	3,216
Level 3
Assets:
Other investments carried at amortized cost, fair value	421	118
Assets fair value disclosure financial instruments carried at cost	449	144
Liabilities
Other policyholders' funds fair value disclosure	7,327	6,160
Notes payable fair value disclosure	5,522	5,285
Liabilities fair value disclosure financial instruments carried at cost	12,849	11,445
Level 3 | Fixed maturities
Assets:
Securities held to maturity, fixed maturities, fair value	28	26
Level 3 | Government and agencies | Fixed maturities
Assets:
Securities held to maturity, fixed maturities, fair value	0	0
Level 3 | Municipalities | Fixed maturities
Assets:
Securities held to maturity, fixed maturities, fair value	0	0
Level 3 | Mortgage- and asset-backed securities | Fixed maturities
Assets:
Securities held to maturity, fixed maturities, fair value	28	26
Level 3 | Public utilities | Fixed maturities
Assets:
Securities held to maturity, fixed maturities, fair value	0	0
Level 3 | Sovereign and supranational | Fixed maturities
Assets:
Securities held to maturity, fixed maturities, fair value	0	0
Level 3 | Banks/financial institutions | Fixed maturities
Assets:
Securities held to maturity, fixed maturities, fair value	0	0
Level 3 | Other corporate | Fixed maturities
Assets:
Securities held to maturity, fixed maturities, fair value	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Fai56

FAIR VALUE MEASUREMENTS - Fair Value Hierarchy Levels of Assets by Pricing Source, Available-for-Sale Securities (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	$ 83,315	$ 67,794
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	28,472	19,158
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	54,562	48,387
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	281	249
Fixed maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	80,286	65,349
Fixed maturities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	27,284	18,669
Fixed maturities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	52,724	46,434
Fixed maturities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	278	246
Perpetual securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	1,832	1,947
Perpetual securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Perpetual securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	1,832	1,947
Perpetual securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	1,197	498
Equity securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	1,188	489
Equity securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	6	6
Equity securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	3	3
Equity securities | Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	1,194	495
Equity securities | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	1,188	489
Equity securities | Third party pricing vendor valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	6	6
Equity securities | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Equity securities | Net asset value valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	3	3
Equity securities | Net asset value valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Equity securities | Net asset value valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Equity securities | Net asset value valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	3	3
Government and agencies | Fixed maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	28,143	19,276
Government and agencies | Fixed maturities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	27,284	18,669
Government and agencies | Fixed maturities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	859	607
Government and agencies | Fixed maturities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Government and agencies | Fixed maturities | Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	28,143	19,276
Government and agencies | Fixed maturities | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	27,284	18,669
Government and agencies | Fixed maturities | Third party pricing vendor valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	859	607
Government and agencies | Fixed maturities | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Municipalities | Fixed maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	1,360	1,208
Municipalities | Fixed maturities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Municipalities | Fixed maturities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	1,360	1,208
Municipalities | Fixed maturities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Municipalities | Fixed maturities | Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	1,360	1,208
Municipalities | Fixed maturities | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Municipalities | Fixed maturities | Third party pricing vendor valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	1,360	1,208
Municipalities | Fixed maturities | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Mortgage- and asset-backed securities | Fixed maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	1,138	582
Mortgage- and asset-backed securities | Fixed maturities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Mortgage- and asset-backed securities | Fixed maturities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	886	362
Mortgage- and asset-backed securities | Fixed maturities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	252	220
Mortgage- and asset-backed securities | Fixed maturities | Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	886	362
Mortgage- and asset-backed securities | Fixed maturities | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Mortgage- and asset-backed securities | Fixed maturities | Third party pricing vendor valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	886	362
Mortgage- and asset-backed securities | Fixed maturities | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Mortgage- and asset-backed securities | Fixed maturities | Consensus pricing valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	252	220
Mortgage- and asset-backed securities | Fixed maturities | Consensus pricing valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Mortgage- and asset-backed securities | Fixed maturities | Consensus pricing valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Mortgage- and asset-backed securities | Fixed maturities | Consensus pricing valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	252	220
Public utilities | Fixed maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	8,327	7,479
Public utilities | Fixed maturities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Public utilities | Fixed maturities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	8,327	7,479
Public utilities | Fixed maturities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Public utilities | Fixed maturities | Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	8,327	7,479
Public utilities | Fixed maturities | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Public utilities | Fixed maturities | Third party pricing vendor valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	8,327	7,479
Public utilities | Fixed maturities | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Sovereign and supranational | Fixed maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	1,565	1,407
Sovereign and supranational | Fixed maturities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Sovereign and supranational | Fixed maturities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	1,565	1,407
Sovereign and supranational | Fixed maturities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Sovereign and supranational | Fixed maturities | Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	1,565	1,407
Sovereign and supranational | Fixed maturities | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Sovereign and supranational | Fixed maturities | Third party pricing vendor valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	1,565	1,407
Sovereign and supranational | Fixed maturities | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Banks/financial institutions | Fixed maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	6,226	6,019
Banks/financial institutions | Fixed maturities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Banks/financial institutions | Fixed maturities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	6,200	5,993
Banks/financial institutions | Fixed maturities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	26	26
Banks/financial institutions | Fixed maturities | Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	6,200	5,993
Banks/financial institutions | Fixed maturities | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Banks/financial institutions | Fixed maturities | Third party pricing vendor valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	6,200	5,993
Banks/financial institutions | Fixed maturities | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Banks/financial institutions | Fixed maturities | Consensus pricing valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	26	26
Banks/financial institutions | Fixed maturities | Consensus pricing valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Banks/financial institutions | Fixed maturities | Consensus pricing valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Banks/financial institutions | Fixed maturities | Consensus pricing valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	26	26
Banks/financial institutions | Perpetual securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	1,598	1,742
Banks/financial institutions | Perpetual securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Banks/financial institutions | Perpetual securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	1,598	1,742
Banks/financial institutions | Perpetual securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Banks/financial institutions | Perpetual securities | Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	1,598	1,742
Banks/financial institutions | Perpetual securities | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Banks/financial institutions | Perpetual securities | Third party pricing vendor valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	1,598	1,742
Banks/financial institutions | Perpetual securities | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Other corporate | Fixed maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	33,527	29,378
Other corporate | Fixed maturities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Other corporate | Fixed maturities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	33,527	29,378
Other corporate | Fixed maturities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Other corporate | Fixed maturities | Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	33,527	29,378
Other corporate | Fixed maturities | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Other corporate | Fixed maturities | Third party pricing vendor valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	33,527	29,378
Other corporate | Fixed maturities | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Other corporate | Perpetual securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	234	205
Other corporate | Perpetual securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Other corporate | Perpetual securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	234	205
Other corporate | Perpetual securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Other corporate | Perpetual securities | Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	234	205
Other corporate | Perpetual securities | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Other corporate | Perpetual securities | Third party pricing vendor valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	234	205
Other corporate | Perpetual securities | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Fai57

FAIR VALUE MEASUREMENTS - Fair Value Hierarchy Levels of Assets by Pricing Source, Held-to-Maturity Securities (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	$ 48,796	$ 37,520
Fixed maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	48,796	37,520
Fixed maturities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	32,076	23,391
Fixed maturities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	16,692	14,103
Fixed maturities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	28	26
Government and agencies | Fixed maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	32,076	23,391
Government and agencies | Fixed maturities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	32,076	23,391
Government and agencies | Fixed maturities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	0	0
Government and agencies | Fixed maturities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	0	0
Government and agencies | Fixed maturities | Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	32,076	23,391
Government and agencies | Fixed maturities | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	32,076	23,391
Government and agencies | Fixed maturities | Third party pricing vendor valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	0	0
Government and agencies | Fixed maturities | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	0	0
Municipalities | Fixed maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	565	415
Municipalities | Fixed maturities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	0	0
Municipalities | Fixed maturities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	565	415
Municipalities | Fixed maturities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	0	0
Municipalities | Fixed maturities | Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	565	415
Municipalities | Fixed maturities | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	0	0
Municipalities | Fixed maturities | Third party pricing vendor valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	565	415
Municipalities | Fixed maturities | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	0	0
Mortgage- and asset-backed securities | Fixed maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	41	38
Mortgage- and asset-backed securities | Fixed maturities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	0	0
Mortgage- and asset-backed securities | Fixed maturities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	13	12
Mortgage- and asset-backed securities | Fixed maturities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	28	26
Mortgage- and asset-backed securities | Fixed maturities | Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	13	12
Mortgage- and asset-backed securities | Fixed maturities | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	0	0
Mortgage- and asset-backed securities | Fixed maturities | Third party pricing vendor valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	13	12
Mortgage- and asset-backed securities | Fixed maturities | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	0	0
Mortgage- and asset-backed securities | Fixed maturities | Consensus pricing valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	28	26
Mortgage- and asset-backed securities | Fixed maturities | Consensus pricing valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	0	0
Mortgage- and asset-backed securities | Fixed maturities | Consensus pricing valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	0	0
Mortgage- and asset-backed securities | Fixed maturities | Consensus pricing valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	28	26
Public utilities | Fixed maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	4,028	3,203
Public utilities | Fixed maturities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	0	0
Public utilities | Fixed maturities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	4,028	3,203
Public utilities | Fixed maturities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	0	0
Public utilities | Fixed maturities | Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	4,028	3,203
Public utilities | Fixed maturities | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	0	0
Public utilities | Fixed maturities | Third party pricing vendor valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	4,028	3,203
Public utilities | Fixed maturities | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	0	0
Sovereign and supranational | Fixed maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	3,391	2,711
Sovereign and supranational | Fixed maturities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	0	0
Sovereign and supranational | Fixed maturities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	3,391	2,711
Sovereign and supranational | Fixed maturities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	0	0
Sovereign and supranational | Fixed maturities | Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	3,391	2,711
Sovereign and supranational | Fixed maturities | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	0	0
Sovereign and supranational | Fixed maturities | Third party pricing vendor valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	3,391	2,711
Sovereign and supranational | Fixed maturities | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	0	0
Banks/financial institutions | Fixed maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	4,920	4,546
Banks/financial institutions | Fixed maturities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	0	0
Banks/financial institutions | Fixed maturities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	4,920	4,546
Banks/financial institutions | Fixed maturities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	0	0
Banks/financial institutions | Fixed maturities | Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	4,823	4,546
Banks/financial institutions | Fixed maturities | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	0	0
Banks/financial institutions | Fixed maturities | Third party pricing vendor valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	4,823	4,546
Banks/financial institutions | Fixed maturities | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	0	0
Banks/financial institutions | Fixed maturities | Consensus pricing valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	97
Banks/financial institutions | Fixed maturities | Consensus pricing valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	0
Banks/financial institutions | Fixed maturities | Consensus pricing valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	97
Banks/financial institutions | Fixed maturities | Consensus pricing valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	0
Other corporate | Fixed maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	3,775	3,216
Other corporate | Fixed maturities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	0	0
Other corporate | Fixed maturities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	3,775	3,216
Other corporate | Fixed maturities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	0	0
Other corporate | Fixed maturities | Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	3,775	3,189
Other corporate | Fixed maturities | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	0	0
Other corporate | Fixed maturities | Third party pricing vendor valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	3,775	3,189
Other corporate | Fixed maturities | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value	$ 0	0
Other corporate | Fixed maturities | Consensus pricing valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value		27
Other corporate | Fixed maturities | Consensus pricing valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value		0
Other corporate | Fixed maturities | Consensus pricing valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value		27
Other corporate | Fixed maturities | Consensus pricing valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity, fixed maturities, fair value		$ 0

FAIR VALUE MEASUREMENTS - Chang

FAIR VALUE MEASUREMENTS - Changes in Available-For-Sale Investments and Derivatives Classified as Level 3 (Detail) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period		$ 205	$ 118	$ 58	$ 189
Realized investment gains (losses) included in earnings		122	58	268	(24)
Unrealized gains (losses) included in other comprehensive income (loss)		25	(8)	31	(12)
Purchases		0	0	0	0
Issuances		0	0	0	0
Sales		0	(147)	0	(147)
Settlements		(11)	(1)	(16)	14
Transfers into Level 3		0	0	0	0
Transfers out of Level 3		0	0	0	0
Balance, end of period		341	20	341	20
Change in unrealized gains (losses) still held		122	58	268	(24)
Foreign currency swaps
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Balance, beginning of period	[1]	(63)	(283)	(192)	(212)
Realized gains or losses included in earnings	[1]	123	58	268	(25)
Unrealized gains or losses included in other comprehensive income (loss)	[1]	(1)	2	(16)	(2)
Purchases	[1]	0	0	0	0
Issuances	[1]	0	0	0	0
Sales	[1]	0	0	0	0
Settlements	[1]	0	0	(1)	16
Transfers into Level 3	[1]	0	0	0	0
Transfers out of Level 3	[1]	0	0	0	0
Balance, end of period	[1]	59	(223)	59	(223)
Changes in unrealized gain (losses) still held	[1]	123	58	268	(25)
Credit default swaps
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Balance, beginning of period	[1]	2	1	1	0
Realized gains or losses included in earnings	[1]	(1)	0	0	1
Unrealized gains or losses included in other comprehensive income (loss)	[1]	0	0	0	0
Purchases	[1]	0	0	0	0
Issuances	[1]	0	0	0	0
Sales	[1]	0	0	0	0
Settlements	[1]	0	0	0	0
Transfers into Level 3	[1]	0	0	0	0
Transfers out of Level 3	[1]	0	0	0	0
Balance, end of period	[1]	1	1	1	1
Changes in unrealized gain (losses) still held	[1]	(1)	0	0	1
Fixed maturities | Mortgage- and asset-backed securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period		237	221	220	223
Realized investment gains (losses) included in earnings		0	0	0	0
Unrealized gains (losses) included in other comprehensive income (loss)		26	(6)	47	(7)
Purchases		0	0	0	0
Issuances		0	0	0	0
Sales		0	0	0	0
Settlements		(11)	(1)	(15)	(2)
Transfers into Level 3		0	0	0	0
Transfers out of Level 3		0	0	0	0
Balance, end of period		252	214	252	214
Change in unrealized gains (losses) still held		0	0	0	0
Fixed maturities | Banks/financial institutions
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period		26	26	26	26
Realized investment gains (losses) included in earnings		0	0	0	0
Unrealized gains (losses) included in other comprehensive income (loss)		0	(1)	0	(1)
Purchases		0	0	0	0
Issuances		0	0	0	0
Sales		0	0	0	0
Settlements		0	0	0	0
Transfers into Level 3		0	0	0	0
Transfers out of Level 3		0	0	0	0
Balance, end of period		26	25	26	25
Change in unrealized gains (losses) still held		0	0	0	0
Perpetual securities | Banks/financial institutions
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period		0	150	0	149
Realized investment gains (losses) included in earnings		0	0	0	0
Unrealized gains (losses) included in other comprehensive income (loss)		0	(3)	0	(2)
Purchases		0	0	0	0
Issuances		0	0	0	0
Sales		0	(147)	0	(147)
Settlements		0	0	0	0
Transfers into Level 3		0	0	0	0
Transfers out of Level 3		0	0	0	0
Balance, end of period		0	0	0	0
Change in unrealized gains (losses) still held		0	0	0	0
Equity securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period		3	3	3	3
Realized investment gains (losses) included in earnings		0	0	0	0
Unrealized gains (losses) included in other comprehensive income (loss)		0	0	0	0
Purchases		0	0	0	0
Issuances		0	0	0	0
Sales		0	0	0	0
Settlements		0	0	0	0
Transfers into Level 3		0	0	0	0
Transfers out of Level 3		0	0	0	0
Balance, end of period		3	3	3	3
Change in unrealized gains (losses) still held		$ 0	$ 0	$ 0	$ 0
[1]	Derivative assets and liabilities are presented net

FAIR VALUE MEASUREMENTS - Addit

FAIR VALUE MEASUREMENTS - Additional Information (Detail) - USD ($) $ in Millions	Jun. 30, 2016	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount	$ 0	$ 0
Fair Value, Assets, Level 2 to Level 1 Transfers, Amount	$ 0	$ 0

FAIR VALUE MEASUREMENTS Fair Va

FAIR VALUE MEASUREMENTS Fair Value Inputs Assets Quantitative Information (Details) - USD ($) $ / shares in Units, $ in Millions		6 Months Ended	12 Months Ended
		Jun. 30, 2016	Dec. 31, 2015
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available-for-sale Securities		$ 83,315	$ 67,794
Asset derivatives		1,963	676
Assets, fair value		$ 89,185	$ 72,996
Length of Volatility of Japanese Yen to US Dollar Exchange Rate		10 years	10 years
Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available-for-sale Securities		$ 281	$ 249
Asset derivatives		177	102
Assets, fair value		458	351
Fixed maturities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available-for-sale Securities		80,286	65,349
Fixed maturities | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available-for-sale Securities		278	246
Perpetual securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available-for-sale Securities		1,832	1,947
Perpetual securities | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available-for-sale Securities		0	0
Equity securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available-for-sale Securities		1,197	498
Equity securities | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available-for-sale Securities		3	3
Equity securities | Net asset value valuation technique
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available-for-sale Securities		3	3
Equity securities | Net asset value valuation technique | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available-for-sale Securities		$ 3	$ 3
Equity securities | Assets | Lower Limit | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Offered Quotes		$ 1	$ 1
Equity securities | Assets | Upper Limit | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Offered Quotes		793	677
Equity securities | Assets | Weighted Average | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Offered Quotes		$ 9	$ 7
Mortgage- and asset-backed securities | Fixed maturities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available-for-sale Securities		$ 1,138	$ 582
Mortgage- and asset-backed securities | Fixed maturities | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available-for-sale Securities		252	220
Mortgage- and asset-backed securities | Fixed maturities | Consensus pricing valuation technique
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available-for-sale Securities		252	220
Mortgage- and asset-backed securities | Fixed maturities | Consensus pricing valuation technique | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available-for-sale Securities		252	220
Banks/financial institutions | Fixed maturities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available-for-sale Securities		6,226	6,019
Banks/financial institutions | Fixed maturities | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available-for-sale Securities		26	26
Banks/financial institutions | Fixed maturities | Consensus pricing valuation technique
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available-for-sale Securities		26	26
Banks/financial institutions | Fixed maturities | Consensus pricing valuation technique | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available-for-sale Securities		26	26
Banks/financial institutions | Perpetual securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available-for-sale Securities		1,598	1,742
Banks/financial institutions | Perpetual securities | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available-for-sale Securities		0	0
Foreign currency swaps
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Asset derivatives		492	563
Foreign currency swaps | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Asset derivatives		176	101
Credit default swaps
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Asset derivatives		1	1
Credit default swaps | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Asset derivatives		1	1
Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), CDS Spreads and Foreign Exchange Rates | Foreign currency swaps | Discounted cash flow valuation technique | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Asset derivatives		$ 42	$ 7
Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), CDS Spreads and Foreign Exchange Rates | Foreign currency swaps | Assets | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Foreign Exchange Rates	[1]	21.14%	20.05%
Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), CDS Spreads and Foreign Exchange Rates | Foreign currency swaps | Assets | Lower Limit | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Entity Credit Risk		0.20%	0.32%
Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), CDS Spreads and Foreign Exchange Rates | Foreign currency swaps | Assets | Upper Limit | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Entity Credit Risk		1.63%	1.47%
Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and CDS Spread | Foreign currency swaps | Discounted cash flow valuation technique | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Asset derivatives		$ 61
Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and CDS Spread | Foreign currency swaps | Assets | Lower Limit | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Entity Credit Risk		0.19%
Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and CDS Spread | Foreign currency swaps | Assets | Upper Limit | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Entity Credit Risk		1.06%
Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and Foreign Exchange Rates | Foreign currency swaps | Discounted cash flow valuation technique | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Asset derivatives		$ 73	$ 94
Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and Foreign Exchange Rates | Foreign currency swaps | Assets | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Foreign Exchange Rates	[1]	21.14%	20.05%
Fair Value, Unobservable Input, Base Correlation, CDS Spreads, Recovery Rate | Credit default swaps | Discounted cash flow valuation technique | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Asset derivatives		$ 1	$ 1
Fair Value, Unobservable Input, Base Correlation, CDS Spreads, Recovery Rate | Credit default swaps | Assets | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Entity Credit Risk		0.84%	1.23%
Fair Value Inputs, Recovery Rate		36.93%	36.87%
Fair Value, Unobservable Input, Base Correlation, CDS Spreads, Recovery Rate | Credit default swaps | Assets | Lower Limit | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Base Correlation	[2]	64.18%	53.26%
Fair Value, Unobservable Input, Base Correlation, CDS Spreads, Recovery Rate | Credit default swaps | Assets | Upper Limit | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Base Correlation	[2]	69.87%	58.40%
Dollar-denominated | Fixed maturities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available-for-sale Securities		$ 40,594	$ 36,838
Dollar-denominated | Equity securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available-for-sale Securities		550	11
Dollar-denominated | Mortgage- and asset-backed securities | Fixed maturities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available-for-sale Securities		217	227
Dollar-denominated | Banks/financial institutions | Fixed maturities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available-for-sale Securities		3,259	3,478
Dollar-denominated | Banks/financial institutions | Perpetual securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available-for-sale Securities		$ 70	$ 111
Dollar-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), CDS Spreads and Foreign Exchange Rates | Foreign currency swaps | Assets | Lower Limit | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Discount Rate	[3]	1.36%	2.20%
Dollar-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), CDS Spreads and Foreign Exchange Rates | Foreign currency swaps | Assets | Upper Limit | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Discount Rate	[3]	1.83%	2.62%
Dollar-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and CDS Spread | Foreign currency swaps | Assets | Lower Limit | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Discount Rate	[3]	1.64%
Dollar-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and CDS Spread | Foreign currency swaps | Assets | Upper Limit | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Discount Rate	[3]	2.14%
Dollar-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and Foreign Exchange Rates | Foreign currency swaps | Assets | Lower Limit | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Discount Rate	[3]	1.64%	2.20%
Dollar-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and Foreign Exchange Rates | Foreign currency swaps | Assets | Upper Limit | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Discount Rate	[3]	2.14%	2.62%
Yen-denominated | Fixed maturities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available-for-sale Securities		$ 39,692	$ 28,511
Yen-denominated | Equity securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available-for-sale Securities		647	487
Yen-denominated | Mortgage- and asset-backed securities | Fixed maturities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available-for-sale Securities		921	355
Yen-denominated | Banks/financial institutions | Fixed maturities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available-for-sale Securities		2,967	2,541
Yen-denominated | Banks/financial institutions | Perpetual securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Available-for-sale Securities		$ 1,528	$ 1,631
Yen-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), CDS Spreads and Foreign Exchange Rates | Foreign currency swaps | Assets | Lower Limit | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Discount Rate	[4]	(0.04%)	0.42%
Yen-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), CDS Spreads and Foreign Exchange Rates | Foreign currency swaps | Assets | Upper Limit | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Discount Rate	[4]	0.17%	1.22%
Yen-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and CDS Spread | Foreign currency swaps | Assets | Lower Limit | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Discount Rate	[4]	0.15%
Yen-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and CDS Spread | Foreign currency swaps | Assets | Upper Limit | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Discount Rate	[4]	0.60%
Yen-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and Foreign Exchange Rates | Foreign currency swaps | Assets | Lower Limit | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Discount Rate	[4]	0.15%	0.42%
Yen-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and Foreign Exchange Rates | Foreign currency swaps | Assets | Upper Limit | Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Inputs, Discount Rate	[4]	0.60%	1.22%
[1]	Based on 10 year volatility of JPY/USD exchange rate
[2]	Range of base correlation for our bespoke tranche for attachment and detachment points corresponding to market indices.
[3]	Inputs derived from U.S. long-term rates to accommodate long maturity nature of our swaps
[4]	Inputs derived from Japan long-term rates to accommodate long maturity nature of our swaps

FAIR VALUE MEASUREMENTS Fair 61

FAIR VALUE MEASUREMENTS Fair Value Inputs Liabilities Quantitative Information (Details) - USD ($) $ in Millions		6 Months Ended	12 Months Ended
		Jun. 30, 2016	Dec. 31, 2015
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Liability derivatives		$ 542	$ 371
Liabilities, fair value disclosure		$ 542	$ 371
Length of Volatility of Japanese Yen to US Dollar Exchange Rate		10 years	10 years
Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Liabilities, fair value disclosure		$ 117	$ 293
Foreign currency swaps
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Liability derivatives		396	314
Foreign currency swaps | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Liability derivatives		117	293
Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), CDS Spreads and Foreign Exchange Rates | Foreign currency swaps | Discounted cash flow valuation technique | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Liability derivatives		$ 96	$ 158
Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), CDS Spreads and Foreign Exchange Rates | Foreign currency swaps | Liability | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair Value Inputs, Foreign Exchange Rates	[1]	21.14%	20.05%
Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), CDS Spreads and Foreign Exchange Rates | Foreign currency swaps | Liability | Lower Limit | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair Value Inputs, Entity Credit Risk		0.32%	0.32%
Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), CDS Spreads and Foreign Exchange Rates | Foreign currency swaps | Liability | Upper Limit | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair Value Inputs, Entity Credit Risk		1.47%	1.47%
Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and CDS Spread | Foreign currency swaps | Discounted cash flow valuation technique | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Liability derivatives		$ 19	$ 120
Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and CDS Spread | Foreign currency swaps | Liability | Lower Limit | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair Value Inputs, Entity Credit Risk		0.49%	0.35%
Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and CDS Spread | Foreign currency swaps | Liability | Upper Limit | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair Value Inputs, Entity Credit Risk		3.29%	2.13%
Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and Foreign Exchange Rates | Foreign currency swaps | Discounted cash flow valuation technique | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Liability derivatives		$ 2	$ 15
Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and Foreign Exchange Rates | Foreign currency swaps | Liability | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair Value Inputs, Foreign Exchange Rates	[1]	21.14%	20.05%
Dollar-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), CDS Spreads and Foreign Exchange Rates | Foreign currency swaps | Liability | Lower Limit | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair Value Inputs, Discount Rate	[2]	1.64%	2.20%
Dollar-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), CDS Spreads and Foreign Exchange Rates | Foreign currency swaps | Liability | Upper Limit | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair Value Inputs, Discount Rate	[2]	2.14%	2.62%
Dollar-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and CDS Spread | Foreign currency swaps | Liability | Lower Limit | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair Value Inputs, Discount Rate	[2]	1.64%	2.20%
Dollar-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and CDS Spread | Foreign currency swaps | Liability | Upper Limit | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair Value Inputs, Discount Rate	[2]	2.14%	2.62%
Dollar-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and Foreign Exchange Rates | Foreign currency swaps | Liability | Lower Limit | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair Value Inputs, Discount Rate	[2]	1.64%	2.20%
Dollar-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and Foreign Exchange Rates | Foreign currency swaps | Liability | Upper Limit | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair Value Inputs, Discount Rate	[2]	2.14%	2.62%
Yen-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), CDS Spreads and Foreign Exchange Rates | Foreign currency swaps | Liability | Lower Limit | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair Value Inputs, Discount Rate	[3]	0.15%	0.42%
Yen-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), CDS Spreads and Foreign Exchange Rates | Foreign currency swaps | Liability | Upper Limit | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair Value Inputs, Discount Rate	[3]	0.60%	1.22%
Yen-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and CDS Spread | Foreign currency swaps | Liability | Lower Limit | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair Value Inputs, Discount Rate	[3]	0.15%	0.42%
Yen-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and CDS Spread | Foreign currency swaps | Liability | Upper Limit | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair Value Inputs, Discount Rate	[3]	0.60%	1.22%
Yen-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and Foreign Exchange Rates | Foreign currency swaps | Liability | Lower Limit | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair Value Inputs, Discount Rate	[3]	0.15%	0.42%
Yen-denominated | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY), and Foreign Exchange Rates | Foreign currency swaps | Liability | Upper Limit | Level 3
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair Value Inputs, Discount Rate	[3]	0.60%	1.22%
[1]	Based on 10 year volatility of JPY/USD exchange rate
[2]	Inputs derived from U.S. long-term rates to accommodate long maturity nature of our swaps
[3]	Inputs derived from Japan long-term rates to accommodate long maturity nature of our swaps

REINSURANCE - Additional Infor

REINSURANCE - Additional Information (Details) $ in Millions, ¥ in Billions	6 Months Ended
	Jun. 30, 2016JPY (¥)	Jun. 30, 2016USD ($)	Dec. 31, 2015USD ($)
Effects of Reinsurance [Line Items]
Percent change in spot yen/dollar exchange rate		17.00%
Percent change in ceded reserves		2.00%
Aflac Japan
Effects of Reinsurance [Line Items]
Committed reinsurance facility | ¥	¥ 110
Aflac Japan | Closed Block
Effects of Reinsurance [Line Items]
Reinsurance deferred profit liability		$ 953
Reinsurance recoverable		$ 959	$ 805

REINSURANCE - Effect of Reinsu

REINSURANCE - Effect of Reinsurance on Premiums and Benefits and Claims (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Effects of Reinsurance [Line Items]
Direct premium income	$ 4,915	$ 4,448	$ 9,605	$ 8,962
Net premium income	4,823	4,364	9,425	8,796
Direct benefits and claims	3,332	3,013	6,435	6,038
Benefits and claims, net	3,254	2,937	6,279	5,889
All other
Effects of Reinsurance [Line Items]
Ceded premiums	(12)	(8)	(24)	(18)
Assumed premiums earned	2	1	4	4
Ceded benefits and claims	8	10	12	3
Assumed benefits and claims from other companies	(13)	(17)	(27)	(17)
Aflac Japan
Effects of Reinsurance [Line Items]
Net premium income	3,402	2,978	6,581	6,056
Aflac Japan | Closed Block
Effects of Reinsurance [Line Items]
Ceded premiums	(141)	(132)	(275)	(222)
Assumed premiums earned	59	55	115	70
Ceded benefits and claims	(129)	(120)	(250)	(200)
Assumed benefits and claims from other companies	$ 56	$ 51	$ 109	$ 65

NOTES PAYABLE - Additional Info

NOTES PAYABLE - Additional Information (Details) - 6 months ended Jun. 30, 2016 ¥ in Millions	USD ($)	JPY (¥)
Notes Payable
Debt Instrument [Line Items]
Debt instrument, debt default, amount	$ 0
100 billion yen line of credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity | ¥		¥ 100,000
Line of credit facility term	3 years
Line of credit facility, interest rate description	Borrowings bear interest at a rate per annum equal to the Tokyo interbank market rate (TIBOR) plus, at our option, either (a) the applicable TIBOR margin during the period from the closing date to the commitment termination date or (b) the applicable TIBOR margin during the term out period. The applicable margin ranges between .35% and .75% during the period from the closing date to the commitment termination date and .70% and 1.50% during the term out period, depending on the Parent Company’s debt ratings as of the date of determination.
Line of credit facility, amount outstanding | ¥		0
$100 million dollar line of credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 100,000,000
Line of credit facility term	364 days
Line of credit facility, interest rate description	Borrowings will bear interest at the rate quoted by the bank and agreed upon at the time of making such loan and will have a three-month maturity period.
Line of credit facility, amount outstanding	$ 0
55 billion yen line of credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity | ¥		55,000
Line of credit facility term	5 years
Line of credit facility, interest rate description	Borrowings bear interest at a rate per annum equal to, at our option, either (a) a eurocurrency rate determined by reference to the London Interbank Offered Rate (LIBOR) for the interest period relevant to such borrowing adjusted for certain additional costs or (b) a base rate determined by reference to the highest of (1) the federal funds effective rate plus ½ of 1%, (2) the rate of interest for such day announced by Mizuho Bank, Ltd. as its prime rate and (3) the eurocurrency rate for an interest period of one month plus 1.00%, in each case plus an applicable margin. The applicable margin ranges between .79% and 1.275% for eurocurrency rate borrowings and 0.0% and .275% for base rate borrowings, depending on the Parent Company’s debt ratings as of the date of determination.
Line of credit facility, amount outstanding | ¥		¥ 0
$50 million dollar line of credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 50,000,000
Line of credit facility, interest rate description	Borrowings will bear interest at the rate quoted by the bank and agreed upon at the time of making such loan and will have a three-month maturity period.
Line of credit facility, amount outstanding	$ 0
Line of credit
Debt Instrument [Line Items]
Debt instrument, debt default, amount	$ 0
Lower Limit | 100 billion yen line of credit
Debt Instrument [Line Items]
Line of credit facility, commitment fee percentage	0.30%
Lower Limit | 55 billion yen line of credit
Debt Instrument [Line Items]
Line of credit facility, commitment fee percentage	0.085%
Upper Limit | 100 billion yen line of credit
Debt Instrument [Line Items]
Line of credit facility, commitment fee percentage	0.50%
Upper Limit | 55 billion yen line of credit
Debt Instrument [Line Items]
Line of credit facility, commitment fee percentage	0.225%

NOTES PAYABLE - Summary of Note

NOTES PAYABLE - Summary of Notes Payable (Details) - USD ($) $ in Millions		Jun. 30, 2016		Dec. 31, 2015
Debt Instrument [Line Items]
Notes payable		$ 5,009		$ 4,971
2.65% senior notes due February 2017
Debt Instrument [Line Items]
Notes payable	[1]	650		651
2.40% senior notes due March 2020
Debt Instrument [Line Items]
Notes payable	[2]	547		546
4.00% senior notes due February 2022
Debt Instrument [Line Items]
Notes payable		348		348
3.625% senior notes due June 2023
Debt Instrument [Line Items]
Notes payable		696		696
3.625% senior notes due November 2024
Debt Instrument [Line Items]
Notes payable		744		744
3.25% senior notes due March 2025
Debt Instrument [Line Items]
Notes payable		445		445
6.90% senior notes due December 2039
Debt Instrument [Line Items]
Notes payable	[2]	394		393
6.45% senior notes due August 2040
Debt Instrument [Line Items]
Notes payable		445		445
5.50% subordinated notes due September 2052
Debt Instrument [Line Items]
Notes payable		486		486
2.26% yen-denominated Uridashi notes due September 2016
Debt Instrument [Line Items]
Notes payable		78		66
1.84% yen-denominated Samurai notes due July 2016
Debt Instrument [Line Items]
Notes payable		154	[3]	131
Capitalized Lease Obligations
Debt Instrument [Line Items]
Notes payable		$ 22		$ 20
[1]	Principal amount plus an issuance premium that is being amortized over the life of the notes
[2]	Principal amount net of an issuance discount that is being amortized over the life of the notes
[3]	Paid off in July 2016 at its specific maturity date

NOTES PAYABLE - Summary of No66

NOTES PAYABLE - Summary of Notes Payable (Parenthetical) (Details) $ in Millions, ¥ in Billions	Jun. 30, 2016USD ($)	Jun. 30, 2016JPY (¥)	Dec. 31, 2015JPY (¥)
2.65% senior notes due February 2017
Debt Instrument [Line Items]
Debt instrument, interest rate	2.65%	2.65%	2.65%
Debt instrument, principal amount	$ 400
2.40% senior notes due March 2020
Debt Instrument [Line Items]
Debt instrument, interest rate	2.40%	2.40%	2.40%
Debt instrument, principal amount	$ 550
4.00% senior notes due February 2022
Debt Instrument [Line Items]
Debt instrument, interest rate	4.00%	4.00%	4.00%
Debt instrument, principal amount	$ 350
3.625% senior notes due June 2023
Debt Instrument [Line Items]
Debt instrument, interest rate	3.625%	3.625%	3.625%
Debt instrument, principal amount	$ 700
3.625% senior notes due November 2024
Debt Instrument [Line Items]
Debt instrument, interest rate	3.625%	3.625%	3.625%
Debt instrument, principal amount	$ 750
3.25% senior notes due March 2025
Debt Instrument [Line Items]
Debt instrument, interest rate	3.25%	3.25%	3.25%
Debt instrument, principal amount	$ 450
6.90% senior notes due December 2039
Debt Instrument [Line Items]
Debt instrument, interest rate	6.90%	6.90%	6.90%
6.45% senior notes due August 2040
Debt Instrument [Line Items]
Debt instrument, interest rate	6.45%	6.45%	6.45%
5.50% subordinated notes due September 2052
Debt Instrument [Line Items]
Debt instrument, interest rate	5.50%	5.50%	5.50%
Debt instrument, principal amount	$ 500
2.26% yen-denominated Uridashi notes due September 2016
Debt Instrument [Line Items]
Debt instrument, interest rate	2.26%	2.26%	2.26%
Debt instrument, principal amount | ¥		¥ 8	¥ 8
1.84% yen-denominated Samurai notes due July 2016
Debt Instrument [Line Items]
Debt instrument, interest rate	1.84%	1.84%	1.84%
Debt instrument, principal amount | ¥		¥ 15.8	¥ 15.8

SHAREHOLDERS' EQUITY - Reconcil

SHAREHOLDERS' EQUITY - Reconciliation of Number of Shares of Common Stock (Detail) - shares shares in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Common Stock Issued [Roll Forward]
Balance, beginning of period	669,723	668,132
Exercise of stock options and issuance of restricted shares	1,041	934
Balance, end of period	670,764	669,066
Treasury Stock [Roll Forward]
Balance, beginning of period	245,343	225,687
Balance, end of period	260,649	238,449
Shares outstanding, end of period	410,115	430,617
Treasury Stock
Treasury Stock [Roll Forward]
Stock Acquired In Open Market, Shares	16,026	13,534
Other purchases	224	214
Shares issued to AFL Stock Plan	(594)	(611)
Exercise of stock options	(238)	(265)
Other dispositions	(112)	(110)

SHAREHOLDERS' EQUITY - Anti-Dil

SHAREHOLDERS' EQUITY - Anti-Dilutive Share-Based Awards Excluded from Calculation of Diluted Earnings Per Share (Detail) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Stockholders' Equity Note [Abstract]
Anti-dilutive share-based awards	696	1,390	1,689	1,634

SHAREHOLDERS' EQUITY - Addition

SHAREHOLDERS' EQUITY - Additional Information (Detail) - USD ($) shares in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Stockholders Equity Note [Line Items]
Common stock, share repurchase, dollar amount	$ 1,014	$ 848
Remaining common stock available for purchase under share repurchase authorizations	32.3
Share Repurchase Program
Stockholders Equity Note [Line Items]
Stock Acquired In Open Market, Shares	16	13.5
Common stock, share repurchase, dollar amount	$ 1,000	$ 833

SHAREHOLDERS' EQUITY - Changes

SHAREHOLDERS' EQUITY - Changes in Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning of period	[1]	$ 2,936	$ 2,332	$ 625	$ 1,979
Other comprehensive income loss before reclassifications net of tax	[1]	2,488	(1,782)	4,849	(1,396)
Amounts reclassified from accumulated other comprehensive income net of tax	[1]	8	(43)	(42)	(76)
Other comprehensive income (loss), net of tax	[1]	2,496	(1,825)	4,807	(1,472)
Balance, end of period	[1]	5,432	507	5,432	507
Unrealized foreign currency translation gains (losses)
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning of period	[1]	(1,584)	(2,540)	(2,196)	(2,541)
Other comprehensive income loss before reclassifications net of tax	[1]	737	(185)	1,349	(184)
Amounts reclassified from accumulated other comprehensive income net of tax	[1]	0	0	0	0
Other comprehensive income (loss), net of tax	[1]	737	(185)	1,349	(184)
Balance, end of period	[1]	(847)	(2,725)	(847)	(2,725)
Unrealized gains (losses) on investment securities
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning of period	[1]	4,684	5,026	2,986	4,672
Other comprehensive income loss before reclassifications net of tax	[1]	1,750	(1,598)	3,498	(1,211)
Amounts reclassified from accumulated other comprehensive income net of tax	[1]	7	(44)	(43)	(77)
Other comprehensive income (loss), net of tax	[1]	1,757	(1,642)	3,455	(1,288)
Balance, end of period	[1]	6,441	3,384	6,441	3,384
Unrealized gains (losses) on derivatives
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning of period	[1]	(24)	(28)	(26)	(26)
Other comprehensive income loss before reclassifications net of tax	[1]	5	1	7	(1)
Amounts reclassified from accumulated other comprehensive income net of tax	[1]	0	0	0	0
Other comprehensive income (loss), net of tax	[1]	5	1	7	(1)
Balance, end of period	[1]	(19)	(27)	(19)	(27)
Pension liability adjustment
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning of period	[1]	(140)	(126)	(139)	(126)
Other comprehensive income loss before reclassifications net of tax	[1]	(4)	0	(5)	0
Amounts reclassified from accumulated other comprehensive income net of tax	[1]	1	1	1	1
Other comprehensive income (loss), net of tax	[1]	(3)	1	(4)	1
Balance, end of period	[1]	$ (143)	$ (125)	$ (143)	$ (125)
[1]	All amounts in the table above are net of tax.

SHAREHOLDERS' EQUITY - Reclassi

SHAREHOLDERS' EQUITY - Reclassifications Out of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Sales and redemptions		$ 13	$ 92	$ 104	$ 160
Other than temporary impairment losses realized	[1]	(33)	0	(47)	(6)
Total before tax		834	874	1,951	1,887
Income tax (expense) or benefit		(286)	(301)	(672)	(651)
Net of tax		$ 548	$ 573	$ 1,279	$ 1,236
The expected U.S. tax rate		35.00%	35.00%	35.00%	35.00%
Reclassification Out Of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net of tax		$ (8)	$ 43	$ 42	$ 76
Reclassification Out Of Accumulated Other Comprehensive Income | Unrealized gains (losses) on investment securities
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Sales and redemptions		22	68	113	124
Other than temporary impairment losses realized		(33)	0	(47)	(6)
Total before tax		(11)	68	66	118
Income tax (expense) or benefit	[2]	4	(24)	(23)	(41)
Net of tax		(7)	44	43	77
Reclassification Out Of Accumulated Other Comprehensive Income | Pension liability adjustment
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Acquisition and operating expenses, actuarial gains (losses)	[3]	(5)	(5)	(8)	(9)
Acquisition and operating expenses, prior service (cost) credit	[3]	3	4	6	8
Income tax (expense) or benefit	[2]	1	0	1	0
Net of tax		$ (1)	$ (1)	$ (1)	$ (1)
[1]	Includes $33 and an immaterial amount for the three-month periods and $47 and $6 for the six-month periods ended June 30, 2016 and 2015, respectively, from change in intent to sell securities or change in intent to hold securities until recovery
[2]	Based on 35% tax rate
[3]	These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 10 for additional details).

SHARE-BASED COMPENSATION - Stoc

SHARE-BASED COMPENSATION - Stock Options Outstanding and Exercisable (Detail) $ / shares in Units, shares in Thousands, $ in Millions	6 Months Ended
	Jun. 30, 2016USD ($)$ / sharesshares
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Options Outstanding - Stock Option Shares | shares	7,282
Options Outstanding - Weighted-Average Remaining Term (Yrs)	4 years 8 months 12 days
Options Outstanding - Aggregate Intrinsic Value | $	$ 146
Options Outstanding - Weighted-Average Exercise Price Per Share | $ / shares	$ 52.10
Options Exercisable - Stock Option Shares | shares	5,369
Options Exercisable - Weighted-Average Remaining Term (Yrs.)	3 years 3 months 18 days
Options Exercisable - Aggregate Intrinsic Value | $	$ 125
Options Exercisable - Weighted-Average Exercise Price Per Share | $ / shares	$ 48.92

SHARE-BASED COMPENSATION - Addi

SHARE-BASED COMPENSATION - Additional Information (Detail) shares in Thousands, $ in Millions	6 Months Ended
	Jun. 30, 2016USD ($)planshares	Jun. 30, 2015USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of long-term incentive compensation plans | plan	2
Proceeds from stock options exercised	$ 33	$ 31
Tax benefit from stock options exercised	$ 18	$ 19
Stock Option Plan Effective until February 2007
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option plan, term (in years)	10 years
Second Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option plan, term (in years)	10 years
Stock option plan, vesting period	3 years
Shares available for future grants under the long-term incentive plan | shares	8,900
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation cost not yet recognized, restricted stock awards	$ 44
Total compensation cost not yet recognized, restricted stock awards, weighted-average period (in years)	1 year 6 months
Performance based Vesting Condition | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation cost not yet recognized, restricted stock awards	$ 12
Total compensation cost not yet recognized, restricted stock awards, shares | shares	474

BENEFIT PLANS - Additional Info

BENEFIT PLANS - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2013
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Amount of years active employees have left to meet rule of 80 in order to be eligible for postretirement medical benefits		5 years
Amount of years left to meet 15 year service requirement for active employees age 55 or older to be eligible for postretirement medical benefits		5 years
Lower Limit
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Health care plan, retirement age for eligibility, (in years)		55 years
Health care plan, number of years of service for eligibility		15 years
Health care plan, retirement age and years of service combined years for eligibility (rule of 80)		80 years
Japanese Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer contributions	$ 11
U.S. Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer contributions	$ 0

BENEFIT PLANS - Net Periodic (B

BENEFIT PLANS - Net Periodic (Benefit) Cost Included in Acquisition and Operating Expenses (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Japanese Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	$ 4	$ 3	$ 8	$ 7
Interest cost	1	1	3	3
Expected return on plan assets	(1)	(1)	(2)	(2)
Amortization of net actuarial loss	1	1	1	1
Amortization of prior service cost (credit)	0	0	0	0
Net periodic (benefit) cost	5	4	10	9
U.S. Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	6	6	12	12
Interest cost	8	8	16	16
Expected return on plan assets	(5)	(5)	(11)	(11)
Amortization of net actuarial loss	3	3	6	7
Amortization of prior service cost (credit)	0	0	0	0
Net periodic (benefit) cost	12	12	23	24
Other Postretirement Benefit Plans, Defined Benefit
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	0	0	0	0
Interest cost	1	0	1	1
Expected return on plan assets	0	0	0	0
Amortization of net actuarial loss	1	1	1	1
Amortization of prior service cost (credit)	(3)	(4)	(6)	(8)
Net periodic (benefit) cost	$ (1)	$ (3)	$ (4)	$ (6)

COMMITMENTS AND CONTINGENT LI76

COMMITMENTS AND CONTINGENT LIABILITIES - Additional Information (Details) $ in Millions	Jun. 30, 2016USD ($)
Other Commitments [Line Items]
Middle market loan commitment	$ 72
Commercial mortgage loan commitments	$ 177