Aflac (AFL) 10-K 23 Feb 23 2022 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2022	Feb. 16, 2023	Jun. 30, 2022
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Document Transition Report	false
Entity File Number	001-07434
Entity Registrant Name	Aflac Incorporated
Entity Incorporation, State or Country Code	GA
Entity Tax Identification Number	58-1167100
Entity Address, Address Line One	1932 Wynnton Road
Entity Address, City or Town	Columbus
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	31999
City Area Code	706
Local Phone Number	323.3431
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 34,906,869,651
Entity Common Stock, Shares Outstanding		612,208,648
Amendment Flag	false
Entity Central Index Key	0000004977
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
ICFR Auditor Attestation Flag	true
Documents Incorporated by Reference	Certain information contained in the Notice and Proxy Statement for the Company’s 2023 Annual Meeting of Shareholders is incorporated by reference into Part III hereof.
Auditor Name	KPMG LLP
Auditor Firm ID	185
Auditor Location	Atlanta, Georgia
NEW YORK STOCK EXCHANGE, INC.
Title of 12(b) Security	Common Stock, $.10 Par Value
Trading Symbol	AFL
Security Exchange Name	NYSE

Consolidated Statements of Earn

Consolidated Statements of Earnings - USD ($) shares in Thousands, $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues:
Net earned premiums, principally supplemental health insurance		$ 15,263	$ 17,647	$ 18,622
Net investment income		3,656	3,818	3,638
Net investment gains (losses)		363	468	(270)
Other income (loss)		220	173	157
Total revenues		19,502	22,106	22,147
Benefits and expenses:
Benefits and claims, net		9,153	10,576	11,796
Acquisition and operating expenses:
Amortization of deferred policy acquisition costs		1,152	1,170	1,214
Insurance commissions		1,117	1,256	1,316
Insurance and other expenses	[1]	3,250	3,544	3,420
Interest expense		226	238	242
Total acquisition and operating expenses		5,745	6,208	6,192
Total benefits and expenses		14,898	16,784	17,988
Earnings before income taxes		4,604	5,322	4,159
Income Tax Expense:
Current		1,181	1,095	794
Deferred		(778)	(98)	(1,413)
Total income tax expense		403	997	(619)
Net earnings		$ 4,201	$ 4,325	$ 4,778
Net earnings per share:
Basic (in dollars per share)		$ 6.62	$ 6.42	$ 6.69
Diluted (in dollars per share)		$ 6.59	$ 6.39	$ 6.67
Weighted-average outstanding common shares used in computing earnings per share (In thousands):
Basic (in shares)		634,816	673,617	713,702
Diluted (in shares)		637,655	676,729	716,192
Cash dividends per share		$ 1.60	$ 1.32	$ 1.12
[1]Includes expense of $48 in 2021 and $15 in 2020 for the early extinguishment of debt.

Consolidated Statements of Ea_2

Consolidated Statements of Earnings (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Expense on extinguishment of debt	$ 48	$ 15

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net earnings	$ 4,201	$ 4,325	$ 4,778
Other comprehensive income (loss) before income taxes:
Unrealized foreign currency translation gains (losses) during period	(1,080)	(889)	510
Unrealized gains (losses) on fixed maturity securities:
Unrealized holding gains (losses) on fixed maturity securities during period	(12,603)	(929)	1,061
Reclassification adjustment for (gains) losses on fixed maturity securities included in net earnings	(453)	(31)	159
Unrealized gains (losses) on derivatives during period	4	5	(1)
Pension liability adjustment during period	165	148	(7)
Total other comprehensive income (loss) before income taxes	(13,967)	(1,696)	1,722
Income tax expense (benefit) related to items of other comprehensive income (loss)	(2,169)	(155)	251
Other comprehensive income (loss), net of income taxes	(11,798)	(1,541)	1,471
Total comprehensive income (loss)	$ (7,597)	$ 2,784	$ 6,249

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions		Dec. 31, 2022		Dec. 31, 2021
Investments and cash:
Available for sale, fixed maturity securities		$ 75,741		$ 98,696
Held to maturity fixed maturity securities, net carrying amount		19,056	[1]	22,000
Equity securities		1,091		1,603
Commercial mortgage and other loans		13,496		11,786
Other investments		4,070		3,842
Cash and cash equivalents		3,943		5,051
Total investments and cash		117,397		142,978
Receivables		647		672
Accrued investment income		745		737
Deferred policy acquisition costs		8,593		9,525
Property and equipment, at cost less accumulated depreciation		530		538
Other		3,105		3,092
Assets		131,017		157,542
Policy liabilities:
Future policy benefits		80,749		90,588
Unpaid policy claims		4,561		4,836
Unearned premiums		1,825		2,576
Other policyholders' funds		6,123		7,072
Total policy liabilities		93,258		105,072
Income taxes		1,296		4,339
Payables for return of cash collateral on loaned securities		1,809		2,162
Notes payable and lease obligations		7,442		7,956
Other		4,847		4,760
Total liabilities		108,652		124,289
Commitments and contingent liabilities (Note 15)
Shareholders' equity:
Common stock of $.10 par value. In thousands: authorized 1,900,000 shares in 2022 and 2021; issued 1,354,079 shares in 2022 and 1,352,739 shares in 2021		135		135
Additional paid-in capital		2,641		2,529
Retained earnings		44,568		41,381
Accumulated other comprehensive income (loss):
Unrealized foreign currency translation gains (losses)		(3,640)		(2,013)
Unrealized gains (losses) on fixed maturity securities		(702)		9,602
Unrealized gains (losses) on derivatives		(27)		(30)
Pension liability adjustment		(36)		(166)
Treasury stock, at average cost		(20,574)		(18,185)
Total shareholders' equity		22,365		33,253
Total liabilities and shareholders' equity		131,017		157,542
Consolidated Entity Excluding Variable Interest Entities (VIE)
Investments and cash:
Available for sale, fixed maturity securities		71,936		94,206
Variable Interest Entity, Consolidated
Investments and cash:
Available for sale, fixed maturity securities		3,805		4,490
Commercial mortgage and other loans	[2]	10,832		9,740
Other investments	[2],[3]	1,909		1,535
Policy liabilities:
Total liabilities	[2]	$ 390		$ 414
[1]Net of allowance for credit losses[2]Net of allowance for credit losses[3]Consists entirely of alternative investments in limited partnerships

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Millions		Dec. 31, 2022	Dec. 31, 2021
Available for sale, fixed maturity securities, allowance for credit losses		$ 0	$ 0
Available for sale, fixed maturity securities, amortized cost		75,469	85,369
Held-to-maturity, fixed maturity securities, allowance for credit losses		7	8
Held to maturity, fixed maturity securities, fair value		21,210	26,869
Commercial mortgage and other loans, allowance for credit losses		192	174
Commercial mortgage and other loans		13,496	11,786
Other investments		$ 4,070	$ 3,842
Common stock, par value (in dollars per share)		$ 0.10	$ 0.10
Common stock, shares authorized (in shares)		1,900,000	1,900,000
Common stock, shares issued (in shares)		1,354,079	1,352,739
Consolidated Entity Excluding Variable Interest Entities (VIE)
Available for sale, fixed maturity securities, allowance for credit losses		$ 0
Available for sale, fixed maturity securities, amortized cost		72,246	$ 82,105
Variable Interest Entity, Consolidated
Available for sale, fixed maturity securities, amortized cost	[1]	3,223	3,264
Commercial mortgage and other loans	[1]	10,832	9,740
Other investments	[1],[2]	$ 1,909	$ 1,535
[1]Net of allowance for credit losses[2]Consists entirely of alternative investments in limited partnerships

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Millions		Total	Cumulative effect, period of adoption, adjustment	Cumulative effect, period of adoption, adjusted balance	Common stock	Common stock Cumulative effect, period of adoption, adjustment	Common stock Cumulative effect, period of adoption, adjusted balance	Additional paid-in capital	Additional paid-in capital Cumulative effect, period of adoption, adjustment	Additional paid-in capital Cumulative effect, period of adoption, adjusted balance	Retained earnings	Retained earnings Cumulative effect, period of adoption, adjustment	Retained earnings Cumulative effect, period of adoption, adjusted balance	Accumulated other comprehensive income (loss)	Accumulated other comprehensive income (loss) Cumulative effect, period of adoption, adjustment	Accumulated other comprehensive income (loss) Cumulative effect, period of adoption, adjusted balance	Treasury stock	Treasury stock Cumulative effect, period of adoption, adjustment	Treasury stock Cumulative effect, period of adoption, adjusted balance
Balance, beginning of period at Dec. 31, 2019		$ 28,959		$ 29,751	$ 135		$ 135	$ 2,313		$ 2,313	$ 34,291		$ 34,235	$ 6,615		$ 7,463	$ (14,395)		$ (14,395)
Balance, beginning of period (Accounting Standards Update 2016-13) at Dec. 31, 2019	[1]		$ (56)			$ 0			$ 0			$ (56)			$ 0			$ 0
Balance, beginning of period (Accounting Standards Update 2019-04) at Dec. 31, 2019	[1]		$ 848			$ 0			$ 0			$ 0			$ 848			$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings		4,778			0			0			4,778			0			0
Unrealized foreign currency translation gains (losses) during period, net of income taxes		514			0			0			0			514			0
Unrealized gains (losses) on fixed maturity securities during the period, net of income taxes and reclassification adjustments		965			0			0			0			965			0
Unrealized gains (losses) on derivatives during period, net of income taxes		(1)			0			0			0			(1)			0
Pension liability adjustment during period, net of income taxes		(7)			0			0			0			(7)			0
Dividends to shareholders	[2]	(1,029)			0			0			(1,029)			0			0
Exercise of stock options		12			0			12			0			0			0
Share-based compensation		53			0			53			0			0			0
Purchases of treasury stock		(1,565)			0			0			0			0			(1,565)
Treasury stock reissued		88			0			32			0			0			56
Balance, end of period at Dec. 31, 2020		33,559			135			2,410			37,984			8,934			(15,904)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings		4,325			0			0			4,325			0			0
Unrealized foreign currency translation gains (losses) during period, net of income taxes		(904)			0			0			0			(904)			0
Unrealized gains (losses) on fixed maturity securities during the period, net of income taxes and reclassification adjustments		(759)			0			0			0			(759)			0
Unrealized gains (losses) on derivatives during period, net of income taxes		4			0			0			0			4			0
Pension liability adjustment during period, net of income taxes		118			0			0			0			118			0
Dividends to shareholders	[2]	(928)			0			0			(928)			0			0
Exercise of stock options		18			0			18			0			0			0
Share-based compensation		61			0			61			0			0			0
Purchases of treasury stock		(2,322)			0			0			0			0			(2,322)
Treasury stock reissued		81			0			40			0			0			41
Balance, end of period at Dec. 31, 2021		33,253			135			2,529			41,381			7,393			(18,185)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings		4,201			0			0			4,201			0			0
Unrealized foreign currency translation gains (losses) during period, net of income taxes		(1,627)			0			0			0			(1,627)			0
Unrealized gains (losses) on fixed maturity securities during the period, net of income taxes and reclassification adjustments		(10,304)			0			0			0			(10,304)			0
Unrealized gains (losses) on derivatives during period, net of income taxes		3			0			0			0			3			0
Pension liability adjustment during period, net of income taxes		130			0			0			0			130			0
Dividends to shareholders	[2]	(1,014)			0			0			(1,014)			0			0
Exercise of stock options		12			0			12			0			0			0
Share-based compensation		62			0			62			0			0			0
Purchases of treasury stock		(2,425)			0			0			0			0			(2,425)
Treasury stock reissued		74			0			38			0			0			36
Balance, end of period at Dec. 31, 2022		$ 22,365			$ 135			$ 2,641			$ 44,568			$ (4,405)			$ (20,574)
[1]See Note 1 of the Notes to the Consolidated Financial Statements for the adoption of accounting guidance on January 1, 2020.[2]Dividends to shareholders are recorded in the period in which they are declared.

Consolidated Statements of Sh_2

Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Retained earnings
Dividends to shareholders (in dollars per share)	$ 1.62	$ 1.39	$ 1.45

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net earnings	$ 4,201	$ 4,325	$ 4,778
Adjustments to reconcile net earnings to net cash provided by operating activities:
Change in receivables and advance premiums	2	75	58
Capitalization of deferred policy acquisition costs	(1,054)	(1,063)	(1,142)
Amortization of deferred policy acquisition costs	1,152	1,170	1,214
Increase in policy liabilities	661	976	2,023
Change in income tax liabilities	(558)	118	(1,419)
Net investment (gains) losses	(363)	(468)	270
Other, net	(162)	(82)	176
Net cash provided (used) by operating activities	3,879	5,051	5,958
Proceeds from investments sold or matured:
Available-for-sale fixed maturity securities	4,418	4,157	3,725
Equity securities	570	264	234
Held-to-maturity fixed maturity securities	3	4	4
Commercial mortgage and other loans	2,190	4,099	2,085
Costs of investments acquired:
Available for sale fixed maturity securities	(3,514)	(5,813)	(4,772)
Equity securities	(461)	(492)	(498)
Commercial mortgage and other loans	(3,897)	(5,282)	(3,263)
Other investments, net	(227)	(1,066)	(860)
Settlement of derivatives, net	(61)	199	18
Cash received (pledged or returned) as collateral, net	(673)	1,511	(1,027)
Other, net	112	41	(265)
Net cash provided (used) by investing activities	(1,540)	(2,378)	(4,619)
Cash flows from financing activities:
Purchases of treasury stock	(2,401)	(2,301)	(1,537)
Proceeds from borrowings	1,277	1,153	1,545
Principal payments under debt obligations	(1,416)	(700)	(350)
Dividends paid to shareholders	(979)	(855)	(769)
Change in investment-type contracts, net	(83)	(36)	(11)
Treasury stock reissued	17	26	34
Other, net	34	(26)	(27)
Net cash provided (used) by financing activities	(3,551)	(2,739)	(1,115)
Effect of exchange rate changes on cash and cash equivalents	104	(24)	21
Net change in cash and cash equivalents	(1,108)	(90)	245
Cash and cash equivalents, beginning of period	5,051	5,141	4,896
Cash and cash equivalents, end of period	3,943	5,051	5,141
Supplemental disclosures of cash flow information:
Income taxes paid	961	880	800
Interest paid	211	213	210
Noncash interest	14	24	32
Noncash financing activities:
Lease obligations	102	46	56
Associate stock bonus
Treasury stock issued for:
Treasury stock issued	14	19	19
Shareholder dividend reinvestment
Treasury stock issued for:
Treasury stock issued	37	32	29
Share-based compensation grants
Treasury stock issued for:
Treasury stock issued	$ 6	$ 4	$ 6

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2022
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 (U.S.) and Japan. The Company's insurance business is marketed and administered through American Family Life Assurance Company of Columbus (Aflac) in the U.S. and through Aflac Life Insurance Japan Ltd. (ALIJ) in Japan. The Company’s operations consist of two reportable business segments: Aflac U.S., which includes Aflac, and Aflac Japan, which includes ALIJ. 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. With the exception of dental and vision products administered by Aflac Benefits Solutions Inc. (ABS), formerly known as Argus Dental & Vision, Inc., and certain group life insurance products, Aflac U.S. markets and administers group products through Continental American Insurance Company (CAIC), branded as Aflac Group Insurance. Additionally, Aflac U.S. markets its consumer markets products through Tier One Insurance Company (TOIC). The Company's insurance operations in the U.S. and Japan service the two markets for the Company's insurance business. Aflac Japan's revenues, including net gains and losses on its investment portfolio, accounted for 69% of the Company's total revenues in 2022, compared with 69% in 2021 and 68% in 2020. The percentage of the Company's total assets attributable to Aflac Japan was 80% at December 31, 2022, compared with 82% at December 31, 2021. In 2022, the Company established Aflac Re Bermuda Ltd. (Aflac Re Bermuda), a Bermuda domiciled insurer that reinsures certain policies issued by ALIJ. Aflac Re Bermuda is subject to regulation in Bermuda, where the Bermuda Monetary Authority (BMA) has broad administrative powers relating to granting and revoking licenses to transact reinsurance business, approval of specific reinsurance transactions, capital requirements and solvency standards, limitations on dividends to shareholders, the nature of and limitations on investments, and the filing of financial statements in accordance with prescribed or permitted accounting practices. In 2020, the Company, through its insurance subsidiaries Aflac and Aflac New York, acquired Zurich North America’s U.S. Corporate Life and Pensions business (Zurich), which consists of group life, disability and absence management products. Aflac and Aflac New York will reinsure on an indemnity basis Zurich's in-force group life and disability policies. Aflac also acquired assets needed to support the group life and disability business, along with an absence management platform. Basis of Presentation The Company prepares its financial statements in accordance with U.S. generally accepted accounting principles (U.S. 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 the Company to make estimates based on currently available information when recording transactions resulting from business operations. The most significant items on the Company's balance sheet that involve a greater degree of accounting estimates and actuarial determinations subject to changes in the future are the valuation of investments and derivatives, deferred policy acquisition costs (DAC), 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 are revised and reflected in operating results. Although some variability is inherent in these estimates, the Company believes the amounts provided are reasonable and reflective of the best estimates of management. The 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. Market Conditions: The impact of the Coronavirus Disease 2019 (COVID-19) global pandemic on the Company continues to evolve and the continued path of the global economic recovery remains uncertain given the potential longer-term impacts that have resulted from or are coincidental with the pandemic. For example, economic conditions have acted as headwinds to sales and earned premiums in 2022. Further, continued widening of the differential between U.S. and Japan interest rates has contributed to a weakening of the yen, which has the effect of suppressing the Company's current period results in relation to the comparable prior period. Significant Accounting Policies Foreign Currency Translation:  The functional currency of Aflac Japan is the Japanese yen. The Company translates its yen-denominated financial statement accounts into U.S. dollars as follows. Assets and liabilities are translated at end-of-period exchange rates. Realized gains and losses on security transactions are translated at the exchange rate on the trade date of each transaction. Other revenues, expenses, and cash flows are translated using average exchange rates for the period. The resulting currency translation adjustments are reported in accumulated other comprehensive income. The Company includes in earnings the realized currency exchange gains and losses resulting from foreign currency transactions. The Parent Company has designated a majority of its yen-denominated liabilities (notes payable and yen-denominated loans) as non-derivative hedges and foreign currency forwards and options as derivative hedges of the foreign currency exposure of the Company's net investment in Aflac Japan. Outstanding principal and related accrued interest on these Parent Company liabilities and the fair value of these derivatives are translated into U.S. dollars at end-of-period exchange rates. Currency translation adjustments and changes in the fair value of these derivatives are recorded as unrealized foreign currency translation gains (losses) in other comprehensive income and are included in accumulated other comprehensive income. Insurance Revenue and Expense Recognition:  Substantially all of the supplemental health and life insurance policies the Company issues are classified as long-duration contracts. The contract provisions generally cannot be changed or canceled during the contract period; however, the Company may adjust premiums for supplemental health policies issued in the U.S. within prescribed guidelines and with the approval of state insurance regulatory authorities. Insurance premiums for most of the Company's health and life policies, including cancer, accident, hospital, critical illness, dental, vision, term life, whole life, long-term care and disability, are recognized as earned premiums over the premium-paying periods of the contracts when due from policyholders. When earned premiums are reported, the related amounts of benefits and expenses are charged against such revenues, so that profits are recognized in proportion to earned premiums during the period the policies are expected to remain in force. This association is accomplished by means of annual additions to the liability for future policy benefits and the deferral and subsequent amortization of policy acquisition costs. Premiums from the Company's products with limited-pay features, including cancer, medical and nursing care, term life, whole life, WAYS, and child endowment, are collected over a significantly shorter period than the period over which benefits are provided. Premiums for these products are recognized as earned premiums over the premium-paying periods of the contracts when due from policyholders. Any gross premium in excess of the net premium is deferred and recorded in earnings, such that profits are recognized in a constant relationship with insurance in force. Benefits are recorded as an expense when they are incurred. A liability for future policy benefits is recorded when premiums are recognized using the net premium method. At the policyholder's option, customers can also pay discounted advanced premiums for certain of the Company's products. Advanced premiums are deferred and recognized when due from policyholders over the regularly scheduled premium payment period. The calculation of DAC and the liability for future policy benefits requires the use of estimates based on sound actuarial valuation techniques. For new policy issues, the Company reviews its actuarial assumptions and deferrable acquisition costs each year and revises them when necessary to more closely reflect recent experience and studies of actual acquisition costs. For policies in force, the Company evaluates DAC by major product groupings to determine that they are recoverable from future revenues, and any amounts determined not to be recoverable are charged against net earnings. The Company has not had any material charges to earnings for DAC that was determined not to be recoverable in any of the years presented in this Form 10-K. Advertising expense is reported as incurred in insurance and other expenses in the consolidated statements of earnings. Cash and Cash Equivalents:  Cash and cash equivalents include cash on hand, money market instruments, and other debt instruments with a maturity of 90 days or less when purchased. Investments:  The Company's debt securities consist of fixed maturity securities, which are classified as either held to maturity or available for sale. Securities classified as held to maturity are securities that the Company has the ability and intent to hold to maturity or redemption and are carried at amortized cost. All other fixed maturity debt securities are classified as available for sale and are carried at fair value. If the fair value is higher than the amortized cost for debt securities, the excess is an unrealized gain, and if lower than cost, the difference is an unrealized loss. The net unrealized gains and losses on securities available for sale, less related deferred income taxes, are recorded through other comprehensive income and included in accumulated other comprehensive income. Amortized cost of debt securities is based on the Company's purchase price adjusted for accrual of discount, or amortization of premium, and recognition of impairment charges, if any. The amortized cost of debt securities the Company purchases at a discount or premium will equal the face or par value at maturity or the call date, if applicable. Interest is reported as income when earned and is adjusted for amortization of any premium or discount. The Company has investments in marketable equity securities which are carried at fair value. Changes in the fair value of equity securities are recorded in earnings as a component of net investment gains and losses. The Company has investments in variable interest entities (VIEs). Criteria for evaluating VIEs for consolidation focuses on identifying which enterprise has the power to direct the activities of a variable interest entity that most significantly impact the entity's economic performance and (1) the obligation to absorb losses of the entity or (2) the right to receive benefits from the entity. The Company is the primary beneficiary of certain VIEs, and therefore consolidates these entities in its financial statements. While the consolidated VIEs generally operate within a defined set of contractual terms, there are certain powers that are retained by the Company that are considered significant in the conclusion that the Company is the primary beneficiary. These powers vary by structure but generally include the initial selection of the underlying collateral; the ability to obtain the underlying collateral in the event of default; and, the ability to appoint or dismiss key parties in the structure. In particular, the Company's powers surrounding the underlying collateral were considered to be the most significant powers because these most significantly impact the economics of the VIE. The Company has no obligation to provide any continuing financial support to any of the entities in which it is the primary beneficiary. The Company's maximum loss is limited to its original investment. Neither the Company nor any of its creditors have the ability to obtain the underlying collateral, nor does the Company have control over the instruments held in the VIEs, unless there is an event of default. For those entities where the Company is the primary beneficiary, the consolidated entity's assets are segregated on the balance sheet by the caption "consolidated variable interest entities," and consist of fixed maturity securities, equity securities, loan receivables, limited partnerships and derivative instruments. For the mortgage- and asset-backed securities held in the Company's fixed maturity portfolio, the Company recognizes income using a constant effective yield, which is based on anticipated prepayments and the estimated economic life of the securities. When estimates of prepayments change, the effective yield is recalculated to reflect actual payments to date and anticipated future payments. The net investment in mortgage- and asset-backed securities is adjusted to the amount that would have existed had the new effective yield been applied at the time of acquisition. This adjustment is reflected in net investment income. The Company uses the specific identification method to determine the gain or loss from securities transactions and report the realized gain or loss in the consolidated statements of earnings as net investment gain or loss. Securities transactions are accounted for based on values as of the trade date of the transaction. The Company lends fixed maturity and public equity securities to financial institutions in short-term security-lending transactions. These securities continue to be carried as investment assets on the Company's balance sheet during the terms of the loans and are not reported as sales. The Company receives 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. For loans where the Company receives as collateral securities that the Company is not permitted to sell or repledge, the collateral is not reported as an asset. Commercial mortgage and other loans include transitional real estate loans (TREs), commercial mortgage loans (CMLs) and middle market loans (MMLs). The Company's investments in TREs, CMLs, and MMLs are accounted for as loan receivables and are recorded at amortized cost on the acquisition date. The Company has the intent and ability to hold these loan receivables for the foreseeable future or until they mature and therefore, they are considered held for investment and are carried at amortized cost in the commercial mortgage and other loans line in its consolidated balance sheets. The amortized cost of the loan receivables reflects allowances for expected lifetime credit losses estimated as of each reporting date. Other investments include policy loans, limited partnerships, and short-term investments with maturities at the time of purchase of one year or less, but greater than 90 days. Limited partnerships are accounted for using the equity method of accounting. Under the equity method of accounting, the Company reports its proportionate share of the investee's earnings or losses as a component of net investment income in its consolidated statements of earnings. The underlying investments held by the Company’s limited partnerships primarily consist of private equity and real estate. Short-term investments are stated at amortized cost, which approximates fair value. Credit Losses: The Company estimates expected lifetime credit losses on financial assets measured at amortized cost including short-term receivables, premiums receivable, held-to-maturity fixed maturity securities, loan receivables, loan commitments and reinsurance recoverables. For available-for-sale fixed maturity securities, the Company evaluates estimated credit losses only when the fair value of the available-for-sale fixed maturity security is below its amortized cost basis. Credit loss changes are recorded as a component of net investment gains and losses for the Company’s held-to-maturity and available-for-sale securities, loan receivables, loan commitments and reinsurance recoverables, whereas credit losses on premium receivables are recorded in net earned premiums in the consolidated statement of earnings. The Company’s off-balance sheet credit exposure is primarily attributable to loan commitments that are not unconditionally cancellable. The Company considers the contractual period of exposure to credit risk, the likelihood that funding will occur, the risk of loss, and the current conditions and expectations of future economic conditions to develop the estimate of expected credit losses. The Company records the estimate of expected credit losses for certain loan commitments within other liabilities in the consolidated balance sheet. Write-offs and partial write-offs are recorded as a reduction to the amortized cost of the loan or fixed maturity security balance and a corresponding reduction to the credit allowance. The Company has elected not to measure an allowance on accrued interest income for all asset types, because the uncollectible accrued interest receivable is written off in a timely manner. The Company writes off accrued interest when it is more than ninety days past due by reducing interest income, which is a component of net investment income, in the consolidated statement of earnings. The Company records due premium receivable net of current expected credit losses in the receivables line item in the consolidated balance sheet, utilizing an aging methodology based on historical loss information, adjusted for current conditions and reasonable and supportable forecasts. Changes in the estimated credit losses related to premium receivable are recorded in net earned premiums in the consolidated statement of earnings. Derivatives and Hedging: Freestanding derivative instruments are reported in the consolidated balance sheet at fair value within other assets and other liabilities, with changes in value reported in earnings and/or other comprehensive income. These freestanding derivatives are foreign currency forwards, foreign currency options, foreign currency swaps, interest rate swaps and interest rate swaptions. The Company does not use derivatives for trading purposes, nor does the Company engage in leveraged derivative transactions. From time to time, the Company purchases certain investments that contain an embedded derivative. The Company assesses whether this embedded derivative is clearly and closely related to the asset that serves as its host contract. If the Company deems that the embedded derivative's terms are not clearly and closely related to the host contract, and a separate instrument with the same terms would qualify as a derivative instrument, the derivative is separated from that contract, held at fair value, and reported with the host instrument in the consolidated balance sheet, with changes in fair value reported in earnings. If the Company has elected the fair value option, the embedded derivative is not bifurcated, and the entire investment is held at fair value with changes in fair value reported in earnings. See Note 5 for a discussion on how the Company determines the fair value of its derivatives. Accruals on derivatives are typically recorded in other assets or within other liabilities in the consolidated balance sheets. To qualify for hedge accounting treatment, a derivative must be highly effective in mitigating the designated risk attributable to the hedged item. At the inception of hedging relationships the Company formally documents all relationships between hedging instruments and hedged items, as well as its risk-management objectives and strategies for undertaking the respective hedging relationship, and the methodology that will be used to assess the effectiveness of the hedge relationship at and subsequent to hedge inception. The Company documents 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 exposure to changes in the fair value of a recognized asset or liability, attributable to a particular risk ("fair value hedge"); or (iii) a hedge of foreign currency exposure of a net investment in a foreign operation ("net investment hedge"). The documentation process includes linking derivatives and non-derivative financial instruments that are designated in hedge relationships with specific assets or groups of assets or liabilities in the statement of financial position or to specific forecasted transactions and defining the effectiveness testing methods to be used. At the hedge inception and on an ongoing quarterly basis, the Company also formally assesses whether the derivatives and non-derivative financial instruments used in hedging activities have been, and are expected to continue to be, highly effective in offsetting their designated risk. The assessment of hedge effectiveness determines the accounting treatment of changes in fair value. Hedge effectiveness is assessed using qualitative and quantitative methods. Qualitative methods may include the comparison of critical terms of the derivative to the hedged item, and quantitative methods may include regression, dollar offset, or other statistical analysis of changes in fair value or cash flows associated with the hedge relationship. For derivative instruments that are designated and qualify as cash flow hedges, the gain or loss on the portion of the hedging instrument included in the assessment of effectiveness is reported as a component of accumulated other comprehensive income (loss) and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Amounts reclassified are recorded in the line item of the consolidated statements of earnings in which gain or loss on the hedged item is recorded. The Company includes all components of each derivative's gain or loss in the assessment of hedge effectiveness. For derivative instruments that are designated and qualify as fair value hedges, the gain or loss on the hedged item and the portion of the hedging instrument included in the assessment of effectiveness are recorded in the line item of the consolidated statements of earnings in which gain or loss on the hedged item is recorded. When assessing the effectiveness of the Company's fair value hedges, the Company excludes the changes in fair value related to the difference between the spot and the forward rate on its foreign currency forwards, the fair value not resulting from fluctuations in spot currency rates on the final notional exchange on cross currency swaps, and the time value of money of foreign exchange options and interest rate swaptions. For interest rate swaptions and cross-currency interest rate swaps designated under fair value hedges of interest rate risk, the change in the time value of money is recognized in other comprehensive income (loss) and amortized into earnings (net investment income) over its legal term. As discussed in Note 4, from time to time the Company designates net investment hedges of its net investment in Aflac Japan. The Company makes its net investment hedge designation at the beginning of each quarter. The qualifying hedging instruments are non-derivative instruments that are not reported at fair value that represent yen-denominated liabilities, namely yen-denominated debt issued by the Company and foreign currency derivatives that include foreign currency forwards and options. For derivative and non-derivative hedging instruments designated as net investment hedges, the Company follows the spot-rate method. According to that method, the change in fair value of the hedging instrument due to fluctuations in the spot exchange rate is recorded in the unrealized foreign currency component of other comprehensive income and reclassified to earnings only when the hedged net investment is sold, or when a liquidation of the respective net investment in the foreign entity is substantially completed. If and when a sale or liquidation occurs, the changes in fair value of the derivative deferred in the unrealized foreign currency component of other comprehensive income will be released in the same income statement line item where the gain (loss) on the hedged net investment would be recorded upon sale. All other changes in fair value of the hedging instrument are considered the “excluded component” and are accounted for in net investment gains (losses). Should these designated net investment hedge positions exceed the Company's net investment in Aflac Japan, the foreign exchange effect on the portion that exceeds its investment in Aflac Japan would be recognized in current earnings within net investment gains (losses). The Company discontinues 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. 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 other gains (losses), which is a component of net 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. The Company receives and pledges cash or other securities as collateral on open derivative positions. Cash received as collateral is reported as an asset with a corresponding liability for the return of the collateral. Cash pledged as collateral is recorded as a reduction to cash, and a corresponding receivable is recognized for the return of the cash collateral. The Company generally can repledge or resell collateral obtained from counterparties, although the Company does not typically exercise such rights. Securities received as collateral are not recognized unless the Company was to exercise its right to sell that collateral or exercise remedies on that collateral upon a counterparty default. Securities that the Company has pledged as collateral continue to be carried as investment assets on its balance sheet. Deferred Policy Acquisition Costs: Certain direct and incremental costs of acquiring insurance contracts are deferred and amortized with interest over the premium payment periods in proportion to the ratio of annual earned premium to total anticipated earned premium. Anticipated earned premium is estimated by using the same mortality, persistency and interest assumptions used in computing liabilities for future policy benefits. In this manner, the related acquisition expenses are matched with revenues. Deferred costs include the excess of current-year commissions over ultimate renewal-year commissions and certain incremental direct policy issue, underwriting and sales expenses. All of these incremental costs are directly related to successful policy acquisition. For some products, policyholders can elect to modify product benefits, features, rights or coverages by exchanging a contract for a new contract or by amendment, endorsement, or rider to a contract, or by the election of a feature or coverage within a contract. These transactions are known as internal replacements. The Company performs a two-stage analysis of the internal replacements to determine if the modification is substantive to the base policy. The stages of evaluation are as follows: 1) determine if the modification is integrated with the base policy, and 2) if it is integrated, determine if the resulting contract is substantially changed. For internal replacement transactions where the resulting contract is substantially unchanged, unamortized deferred acquisition costs from the original policy continue to be amortized over the expected life of the new policy, and the costs of replacing the policy are accounted for as policy maintenance costs and expensed as incurred. For an internal replacement transaction that results in a policy that is substantially changed, unamortized deferred acquisition costs on the original policy are immediately expensed, and the costs of acquiring the new policy are capitalized and amortized in accordance with the Company's accounting policies for deferred acquisition costs. Riders can be considered internal replacements that are either integrated or non-integrated resulting in either substantially changed or substantially unchanged treatment. Riders are evaluated based on the specific facts and circumstances of the rider and are considered an expansion of the existing benefits with additional premium required. Non-integrated riders to existing contracts do not change the Company's profit expectations for the related products and are treated as a new policy establishment for incremental coverage. The Company measures the recoverability of DAC and the adequacy of its policy reserves annually by performing gross premium valuations on its business. Goodwill: Goodwill is an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. The amount of goodwill recognized is also impacted by measurement differences resulting from certain assets and liabilities not recorded at fair value (e.g. income taxes, employee benefits). Goodwill is not amortized, but is tested for impairment at a level of a reporting unit at least annually, in the same reporting period each year. Goodwill is included in the line item “Other” assets in the consolidated balance sheets and was $265 million as of December 31, 2022, compared with $268 million at December 31, 2021. A significant majority of the goodwill balance is attributable to the following business combinations within the Aflac U.S. segment, which represents the reporting unit for goodwill impairment testing: (i) CAIC acquisition in 2009, (ii) Empoweredbenefits, LLC acquisition in 2015, (iii) ABS acquisition in 2019, and (iv) acquisition of Zurich's business in 2020. Policy Liabilities:  Future policy benefits represent insurance claims that are expected to occur in the future and are computed following a net level premium method using estimated future investment yields, persistency and recognized morbidity and mortality tables modified to reflect the Company's experience, including a provision for adverse deviation. These assumptions are generally established and considered locked at policy inception. These assumptions may only be unlocked in certain circumstances based on the results of periodic DAC recoverability and premium deficiency testing. Unpaid policy claims are estimates computed primarily on an undiscounted basis using statistical analyses of historical claims experience adjusted for current trends and changed conditions. The ultimate liability may vary significantly from such estimates. The Company regularly adjusts these estimates as new claims experience emerges and reflects the changes in operati

BUSINESS SEGMENT AND FOREIGN IN

BUSINESS SEGMENT AND FOREIGN INFORMATION	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
BUSINESS SEGMENT INFORMATION	BUSINESS SEGMENT AND FOREIGN 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. In addition, the Parent Company, other operating business units that are not individually reportable, and business activities, including reinsurance activities, not included in Aflac Japan or Aflac U.S. are included in Corporate and other. The Company does not allocate corporate overhead expenses to business segments. Consistent with U.S. GAAP accounting guidance for segment reporting, the Company evaluates and manages its business segments using a financial performance measure called pretax adjusted earnings. Adjusted earnings are adjusted revenues less benefits and adjusted expenses. The adjustments to both revenues and expenses account for certain items that cannot be predicted or that are outside management’s control. Adjusted revenues are U.S. GAAP total revenues excluding net investment gains and losses, except for amortized hedge costs/income related to foreign currency exposure management strategies and net interest cash flows from derivatives associated with certain investment strategies. Adjusted expenses are U.S. GAAP total acquisition and operating expenses including the impact of interest cash flows from derivatives associated with notes payable but excluding any nonrecurring or other items not associated with the normal course of the Company’s insurance operations and that do not reflect the Company’s underlying business performance. The Company excludes income taxes related to operations to arrive at pretax adjusted earnings. Information regarding operations by reportable segment and Corporate and other for the years ended December 31 follows: (In millions) 2022 2021 2020 Revenues: Aflac Japan: Net earned premiums: Cancer $ 4,791 $ 5,829 $ 6,119 Medical and other health 2,775 3,400 3,596 Life insurance 1,982 2,624 2,955 Adjusted net investment income (1),(2) 2,669 3,031 2,659 Other income 35 41 42 Total adjusted revenue Aflac Japan 12,252 14,925 15,371 Aflac U.S.: Net earned premiums: Accident 1,314 1,362 1,449 Disability 1,171 1,162 1,165 Critical care 1,753 1,797 1,856 Hospital indemnity 722 730 747 Dental/vision 199 188 196 Life insurance 372 332 298 Other 39 43 47 Adjusted net investment income (3) 755 754 705 Other income 161 121 102 Total adjusted revenue Aflac U.S. 6,486 6,489 6,565 Corporate and other (4), (5) 267 175 384 Total adjusted revenues 19,005 21,589 22,320 Net investment gains (losses) (1),(2),(3),(4) 497 517 (173) Total revenues $ 19,502 $ 22,106 $ 22,147 (1) Amortized hedge costs of $112, $76 and $206 in 2022, 2021 and 2020, respectively, related to certain foreign currency exposure management strategies have been reclassified from net investment gains (losses) and reported as a deduction from net investment income when analyzing operations. (2) Net interest cash flows from derivatives associated with certain investment strategies of $(86), $(33) and $9 in 2022, 2021 and 2020, respectively, have been reclassified from net investment gains (losses) and included in adjusted earnings as a component of net investment income when analyzing operations. (3) Net interest cash flows from derivatives associated with certain investment strategies of $(4), $2 and $3 in 2022, 2021 and 2020, respectively, have been reclassified from net investment gains (losses) and included in adjusted earnings as a component of net investment income when analyzing operations. (4) Amortized hedge income of $68, $57 and $97 in 2022, 2021 and 2020, respectively, related to certain foreign currency exposure management strategies has been reclassified from net investment gains (losses) and reported as an increase to net investment income when analyzing operations. (5) The change in value of federal historic rehabilitation and solar investments in partnerships of $91 and $138 in 2022 and 2021, respectively, is included as a reduction to net investment income. Tax credits on these investments of $83 and $115 in 2022 and 2021, respectively, have been recorded as an income tax benefit in the consolidated statement of earnings. See Note 3 of the Notes to the Consolidated Financial Statements for additional information on these investments. (In millions) 2022 2021 2020 Pretax earnings: Aflac Japan (1),(2) $ 3,056 $ 3,754 $ 3,263 Aflac U.S. (3) 1,324 1,478 1,268 Corporate and other (4),(5),(6) (223) (298) (115) Pretax adjusted earnings (7) 4,157 4,934 4,416 Net investment gains (losses) (1),(2),(3),(4),(5) 447 462 (229) Other income (loss) 0 (74) (28) Total earnings before income taxes $ 4,604 $ 5,322 $ 4,159 Income taxes applicable to pretax adjusted earnings $ 760 $ 915 $ 864 Effect of foreign currency translation on after-tax (215) (38) 31 (1) Amortized hedge costs of $112, $76 and $206 in 2022, 2021 and 2020, respectively, related to certain foreign currency exposure management strategies have been reclassified from net investment gains (losses) and reported as a deduction from net investment income when analyzing operations. (2) Net interest cash flows from derivatives associated with certain investment strategies of $(86), $(33) and $9 in 2022, 2021 and 2020, respectively, have been reclassified from net investment gains (losses) and included in adjusted earnings as a component of net investment income when analyzing operations. (3) Net interest cash flows from derivatives associated with certain investment strategies of $(4), $2 and $3 in 2022, 2021 and 2020, respectively, have been reclassified from net investment gains (losses) and included in adjusted earnings as a component of net investment income when analyzing operations. (4) Amortized hedge income of $68, $57 and $97 in 2022, 2021 and 2020, respectively, related to certain foreign currency exposure management strategies has been reclassified from net investment gains (losses) and reported as an increase to net investment income when analyzing operations. (5) A gain of $50, $55 and $56 in 2022, 2021 and 2020, respectively, related to the interest rate component of the change in fair value of foreign currency swaps on notes payable has been reclassified from net investment gains (losses) and included in adjusted earnings when analyzing operations. (6) The change in value of federal historic rehabilitation and solar investments in partnerships of $91 and $138 in 2022 and 2021, respectively, is included as a reduction to net investment income. Tax credits on these investments of $83 and $115 in 2022 and 2021, respectively, have been recorded as an income tax benefit in the consolidated statement of earnings. See Note 3 of the Notes to the Consolidated Financial Statements for additional information on these investments. (7) Includes $167, $170 and $167 of interest expense on debt in 2022, 2021 and 2020, respectively. Assets as of December 31 were as follows: (In millions) 2022 2021 Assets: Aflac Japan $ 105,173 $ 128,536 Aflac U.S. 20,779 23,106 Corporate and other 5,065 5,900 Total assets $ 131,017 $ 157,542 Yen-Translation Effects:  The following table shows the yen/dollar exchange rates used for or during the periods ended December 31. Exchange effects were calculated using the same yen/dollar exchange rate for the current year as for each respective prior year. 2022 2021 2020 Statements of Earnings: Weighted-average yen/dollar exchange rate (1) 130.17 109.79 106.86 Yen percent strengthening (weakening) (15.7) % (2.7) % 2.1 % Exchange effect on pretax adjusted earnings (in millions) $ (263) $ (47) $ 38 2022 2021 Balance Sheets: Yen/dollar exchange rate at December 31 (1) 132.70 115.02 Yen percent strengthening (weakening) (13.3) % (10.0) % Exchange effect on total assets (in millions) $ (10,936) $ (9,635) Exchange effect on total liabilities (in millions) (9,589) (7,566) (1) Rates are based on the published MUFG Bank, Ltd. telegraphic transfer middle rate (TTM) Transfers of funds from Aflac Japan:  Aflac Japan makes payments to the Parent Company for management fees and remittances of earnings. Information on transfers for each of the years ended December 31 is shown below. See Note 13 for information concerning restrictions on transfers from Aflac Japan. (In millions) 2022 2021 2020 Management fees $ 61 $ 59 $ 71 Profit remittances 2,412 2,138 1,215 Total transfers from Aflac Japan $ 2,473 $ 2,197 $ 1,286 Property and Equipment:  The costs of buildings, furniture and equipment are depreciated principally on a straight-line basis over their estimated useful lives (maximum of 50 years for buildings and 20 years for furniture and equipment). Expenditures for maintenance and repairs are expensed as incurred; expenditures for betterments are capitalized and depreciated. Classes of property and equipment as of December 31 were as follows: (In millions) 2022 2021 Property and equipment: Land $ 168 $ 168 Buildings 437 491 Equipment and furniture 587 542 Total property and equipment 1,192 1,201 Less accumulated depreciation 662 663 Net property and equipment $ 530 $ 538 Receivables:  Receivables consist primarily of monthly insurance premiums due from individual policyholders or their employers for payroll deduction of premiums, net of current expected credit losses. At December 31, 2022, $174 million, or 27.0% of total receivables, were related to Aflac Japan's operations, compared with $195 million, or 29.0%, at December 31, 2021.

INVESTMENTS

INVESTMENTS	12 Months Ended
	Dec. 31, 2022
Investments [Abstract]
Investments	INVESTMENTS Net Investment Income The components of net investment income for the years ended December 31 were as follows: (In millions) 2022 2021 2020 Fixed maturity securities $ 2,926 $ 3,068 $ 3,113 Equity securities 31 35 29 Commercial mortgage and other loans 716 570 545 Other investments (1) 131 356 145 Short-term investments and cash equivalents 78 7 18 Gross investment income 3,882 4,036 3,850 Less investment expenses 226 218 212 Net investment income $ 3,656 $ 3,818 $ 3,638 (1) The change in value of federal historic rehabilitation and solar investments in partnerships of $91 in 2022 and $138 in 2021 is included as a reduction to net investment income. Tax credits on these investments of $83 in 2022 and $115 in 2021 have been recorded as an income tax benefit in the consolidated statement of earnings. Investment Holdings The amortized cost for the Company's investments in fixed maturity securities, the cost for equity securities and the fair values of these investments at December 31 are shown in the following tables. 2022 (In millions) Amortized Allowance for Credit Losses Gross Gross Fair Securities available for sale, carried at fair Fixed maturity securities: Yen-denominated: Japan government and agencies $ 25,418 $ 0 $ 1,259 $ 1,724 $ 24,953 Municipalities 1,034 0 124 61 1,097 Mortgage- and asset-backed securities 241 0 8 12 237 Public utilities 3,932 0 301 108 4,125 Sovereign and supranational 659 0 24 5 678 Banks/financial institutions 6,348 0 324 531 6,141 Other corporate 6,288 0 555 408 6,435 Total yen-denominated 43,920 0 2,595 2,849 43,666 U.S. dollar-denominated: U.S. government and agencies 169 0 0 8 161 Municipalities 1,269 0 43 89 1,223 Mortgage- and asset-backed securities 1,926 0 67 84 1,909 Public utilities 3,481 0 240 180 3,541 Sovereign and supranational 133 0 35 12 156 Banks/financial institutions 2,992 0 271 105 3,158 Other corporate 21,579 0 1,549 1,201 21,927 Total U.S. dollar-denominated 31,549 0 2,205 1,679 32,075 Total securities available for sale $ 75,469 $ 0 $ 4,800 $ 4,528 $ 75,741 2021 (In millions) Amortized Allowance for Credit Losses Gross Gross Fair Securities available for sale, carried at fair value Fixed maturity securities: Yen-denominated: Japan government and agencies $ 30,335 $ 0 $ 3,343 $ 61 $ 33,617 Municipalities 1,192 0 322 5 1,509 Mortgage- and asset-backed securities 300 0 19 1 318 Public utilities 4,462 0 906 2 5,366 Sovereign and supranational 760 0 82 0 842 Banks/financial institutions 6,963 0 787 72 7,678 Other corporate 7,148 0 1,535 26 8,657 Total yen-denominated 51,160 0 6,994 167 57,987 U.S. dollar-denominated: U.S. government and agencies 196 0 8 1 203 Municipalities 1,340 0 189 2 1,527 Mortgage- and asset-backed securities 897 0 33 2 928 Public utilities 3,781 0 909 5 4,685 Sovereign and supranational 222 0 57 6 273 Banks/financial institutions 3,169 0 747 3 3,913 Other corporate 24,604 0 4,629 53 29,180 Total U.S. dollar-denominated 34,209 0 6,572 72 40,709 Total securities available for sale $ 85,369 $ 0 $ 13,566 $ 239 $ 98,696 2022 (In millions) Amortized Allowance for Credit Losses Net Carrying Amount Gross Gross Fair Securities held to maturity, carried at Fixed maturity securities: Yen-denominated: Japan government and agencies $ 18,269 $ 2 $ 18,267 $ 2,045 $ 0 $ 20,312 Municipalities 287 0 287 48 0 335 Public utilities 38 1 37 4 0 41 Sovereign and supranational 450 4 446 54 0 500 Other corporate 19 0 19 3 0 22 Total yen-denominated 19,063 7 19,056 2,154 0 21,210 Total securities held to maturity $ 19,063 $ 7 $ 19,056 $ 2,154 $ 0 $ 21,210 2021 (In millions) Amortized Allowance for Credit Losses Net Carrying Amount Gross Gross Fair Securities held to maturity, carried at Fixed maturity securities: Yen-denominated: Japan government and agencies $ 21,089 $ 3 $ 21,086 $ 4,613 $ 0 $ 25,699 Municipalities 335 0 335 101 0 436 Public utilities 44 1 43 12 0 55 Sovereign and supranational 518 4 514 136 0 650 Other corporate 22 0 22 7 0 29 Total yen-denominated 22,008 8 22,000 4,869 0 26,869 Total securities held to maturity $ 22,008 $ 8 $ 22,000 $ 4,869 $ 0 $ 26,869 2022 2021 (In millions) Fair Value Fair Value Equity securities, carried at fair value through net earnings: Equity securities: Yen-denominated $ 670 $ 744 U.S. dollar-denominated 374 817 Other currencies 47 42 Total equity securities $ 1,091 $ 1,603 The methods of determining the fair values of the Company's investments in fixed maturity securities and equity securities are described in Note 5. During 2022 and 2021, the Company did not reclassify any investments from the held-to-maturity category to the available-for-sale category. During 2020, as a result of the adoption of ASU 2019-04 discussed in Note 1, the Company reclassified $6.9 billion (at amortized cost) of pre-payable fixed-maturity securities from the held-to-maturity category to the available-for-sale category. This reclassification resulted in recording in accumulated other comprehensive income a net unrealized gain of $848 million on an after-tax basis. The contractual and economic maturities of the Company's investments in fixed maturity securities at December 31, 2022, were as follows: (In millions) Amortized Cost (1) Fair Available for sale: Due in one year or less $ 1,777 $ 1,894 Due after one year through five years 6,806 7,080 Due after five years through 10 years 15,467 16,498 Due after 10 years 49,252 48,123 Mortgage- and asset-backed securities 2,167 2,146 Total fixed maturity securities available for sale $ 75,469 $ 75,741 Held to maturity: Due in one year or less $ 0 $ 0 Due after one year through five years 40 42 Due after five years through 10 years 10,132 11,212 Due after 10 years 8,884 9,956 Mortgage- and asset-backed securities 0 0 Total fixed maturity securities held to maturity $ 19,056 $ 21,210 (1) Net of allowance for credit losses Economic maturities are used for certain debt instruments with no stated maturity where the expected maturity date is based on the combination of features in the financial instrument such as the right to call or prepay obligations or changes in coupon rates. Investment Concentrations The Company's process for investing in credit-related investments begins with an independent approach to underwriting each issuer's fundamental credit quality. The Company evaluates independently those factors that it believes could influence an issuer's ability to make payments under the contractual terms of the Company's 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). The Company further evaluates 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 December 31 were as follows: 2022 2021 (In millions) Credit Amortized Fair Credit Amortized Fair Japan National Government (1) A+ $42,618 $44,178 A+ $50,186 $57,862 (1) Japan Government Bonds (JGBs) or JGB-backed securities Net Investment Gains and Losses Information regarding pretax net gains and losses from investments for the years ended December 31 follows: (In millions) 2022 2021 2020 Net investment gains (losses): Sales and redemptions: Fixed maturity securities available for sale: Gross gains from sales $ 93 $ 64 $ 31 Gross losses from sales (78) (52) (47) Foreign currency gains (losses) 442 1 (69) Other investments: Gross gains from sales 10 0 0 Total sales and redemptions 467 13 (85) Equity securities (341) 164 184 Credit losses: Fixed maturity securities available for sale 0 38 (38) Fixed maturity securities held to maturity 0 1 1 Commercial mortgage and other loans (18) 6 (93) Impairment losses (25) (20) (49) Loan commitments 9 4 (21) Reinsurance recoverables and other (2) (2) 0 Total credit losses (36) 27 (200) Derivatives and other: Derivative gains (losses) (1,151) (805) 399 Foreign currency gains (losses) 1,424 1,069 (568) Total derivatives and other 273 264 (169) Total net investment gains (losses) $ 363 $ 468 $ (270) The unrealized holding losses, net of gains, recorded as a component of net investment gains and losses for the year ended December 31, 2022, that relate to equity securities still held at the December 31, 2022, reporting date was $340 million. Unrealized Investment Gains and Losses Information regarding changes in unrealized gains and losses from investments recorded in AOCI for the years ended December 31 follows: (In millions) 2022 2021 2020 Changes in unrealized gains (losses): Fixed maturity securities, available for sale $ (13,056) $ (960) $ 2,399 Total change in unrealized gains (losses) $ (13,056) $ (960) $ 2,399 Effect on Shareholders' Equity The net effect on shareholders' equity of unrealized gains and losses from fixed maturity securities at December 31 was as follows: (In millions) 2022 2021 Unrealized gains (losses) on securities available for sale $ 272 $ 13,330 Deferred income taxes (974) (3,728) Shareholders’ equity, unrealized gains (losses) on fixed maturity securities $ (702) $ 9,602 Gross Unrealized Loss Aging The following tables show the fair values and gross unrealized losses of the Company's available-for-sale investments, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31. 2022 Total Less than 12 months 12 months or longer (In millions) Fair Unrealized Fair Unrealized Fair Unrealized Fixed maturity securities available U.S. government and U.S. dollar-denominated $ 159 $ 8 $ 85 $ 3 $ 74 $ 5 Japan government and Yen-denominated 8,856 1,724 3,733 580 5,123 1,144 Municipalities: U.S. dollar-denominated 854 89 735 57 119 32 Yen-denominated 286 61 150 26 136 35 Mortgage- and asset- U.S. dollar-denominated 936 84 640 42 296 42 Yen-denominated 62 12 38 6 24 6 Public utilities: U.S. dollar-denominated 1,852 180 1,667 144 185 36 Yen-denominated 880 108 576 61 304 47 Sovereign and supranational: U.S. dollar-denominated 30 12 0 0 30 12 Yen-denominated 71 5 34 4 37 1 Banks/financial institutions: U.S. dollar-denominated 1,147 105 786 58 361 47 Yen-denominated 3,957 531 1,760 174 2,197 357 Other corporate: U.S. dollar-denominated 10,529 1,201 8,636 785 1,893 416 Yen-denominated 2,090 408 1,507 273 583 135 Total $ 31,709 $ 4,528 $ 20,347 $ 2,213 $ 11,362 $ 2,315 2021 Total Less than 12 months 12 months or longer (In millions) Fair Unrealized Fair Unrealized Fair Unrealized Fixed maturity securities available U.S. government and U.S. dollar-denominated $ 1 $ 1 $ 0 $ 1 $ 1 $ 0 Japan government and Yen-denominated 2,868 61 445 3 2,423 58 Municipalities: U.S. dollar-denominated 82 2 79 2 3 0 Yen-denominated 187 5 53 0 134 5 Mortgage- and asset- U.S. dollar-denominated 278 2 278 2 0 0 Yen-denominated 33 1 0 0 33 1 Public utilities: U.S. dollar-denominated 130 5 70 2 60 3 Yen-denominated 26 2 0 0 26 2 Sovereign and supranational: U.S. dollar-denominated 37 6 6 1 31 5 Banks/financial institutions: U.S. dollar-denominated 292 3 274 3 18 0 Yen-denominated 2,074 72 1,011 16 1,063 56 Other corporate: U.S. dollar-denominated 1,365 53 458 8 907 45 Yen-denominated 541 26 274 4 267 22 Total $ 7,914 $ 239 $ 2,948 $ 42 $ 4,966 $ 197 Analysis of Securities in Unrealized Loss Positions The unrealized losses on the Company's fixed maturity 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. For any of its fixed maturity securities with significant declines in fair value, the Company performs detailed analyses to identify whether the drivers of the declines are due to general market drivers, such as the recent rise in interest rates, or due to credit-related factors. Identifying the drivers of the declines in fair value helps to align and allocate the Company‘s resources to securities with real credit-related concerns that could impact ultimate collection of principal and interest. For any significant declines in fair value determined to be non-interest rate or market related, the Company performs a more focused review of the related issuers' specific credit profile. For corporate issuers, the Company evaluates their assets, business profile including industry dynamics and competitive positioning, financial statements and other available financial data. For non-corporate issuers, the Company analyzes all sources of credit support, including issuer-specific factors. The Company utilizes information available in the public domain and, for certain private placement issuers, from consultations with the issuers directly. The Company also considers ratings from Nationally Recognized Statistical Rating Organizations (NRSROs), as well as the specific characteristics of the security it owns including seniority in the issuer's capital structure, covenant protections, or other relevant features. From these reviews, the Company evaluates the issuers' continued ability to service the Company's investment through payment of interest and principal. Assuming no credit-related factors develop, unrealized gains and losses on fixed maturity securities are expected to diminish as investments near maturity. Based on its credit analysis, the Company believes that the issuers of its fixed maturity investments in the sectors shown in the table above have the ability to service their obligations to the Company, and the Company does not intend to sell the investments and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost bases, which may be at maturity. However, from time to time the Company identifies certain available-for-sale fixed maturity securities where the amortized cost basis exceeds the present value of the cash flows expected to be collected due to credit related factors and as a result, a credit allowance will be estimated. Refer to the Allowance for Credit Losses section below for additional information. Commercial Mortgage and Other Loans The Company classifies its TREs, CMLs and MMLs as held-for-investment and includes them in the commercial mortgage and other loans line on the consolidated balance sheets. The Company carries them on the balance sheet at amortized cost less an estimated allowance for credit losses. The following table reflects the composition of the carrying value for commercial mortgage and other loans by property type as of December 31. (In millions) 2022 2021 Amortized Cost % of Total Amortized Cost % of Total Commercial Mortgage and other loans Transitional real estate loans: Office $ 2,158 15.8 % $ 2,001 16.7 % Retail 493 3.6 267 2.2 Apartments/Multi-Family 2,701 19.7 1,893 15.8 Industrial 123 .9 94 .8 Hospitality 803 5.9 876 7.3 Other 231 1.7 228 1.9 Total transitional real estate loans 6,509 47.6 5,359 44.7 Commercial mortgage loans: Office 388 2.8 398 3.3 Retail 310 2.3 332 2.8 Apartments/Multi-Family 630 4.6 649 5.4 Industrial 694 5.1 525 4.4 Total commercial mortgage loans 2,022 14.8 1,904 15.9 Middle market loans 5,157 37.6 4,697 39.4 Total commercial mortgage and other loans $ 13,688 100.0 % $ 11,960 100.0 % Allowance for credit losses (192) (174) Total net commercial mortgage and other loans $ 13,496 $ 11,786 CMLs and TREs were secured by properties entirely within the U.S. (with the largest concentrations in California (22%), Texas (12%) and Florida (10%)). MMLs are issued only to companies domiciled within the U.S. and Canada. Transitional Real Estate Loans TREs are commercial mortgage loans that are typically relatively short-term floating rate instruments secured by a first lien on the property. These loans provide funding for properties undergoing a change in their physical characteristics and/or economic profile and do not typically require any principal repayment prior to the maturity date. This loan portfolio is generally considered to be investment grade. As of December 31, 2022, the Company had $811 million in outstanding commitments to fund TREs. These commitments are contingent on the final underwriting and due diligence to be performed. Commercial Mortgage Loans CMLs are typically fixed rate loans on commercial real estate with partial repayment of principal over the life of the loan with the remaining outstanding principal being repaid upon maturity. This loan portfolio is generally considered higher quality investment grade loans. Middle Market Loans MMLs are typically first lien senior secured cash flow loans to small to mid-size companies for working capital, refinancing, acquisition, and recapitalization. These loans are generally considered to be below investment grade. The carrying value for MMLs included $28 million and $11 million for a short term credit facility that is reflected in other liabilities on the consolidated balance sheets, as of December 31, 2022, and 2021, respectively. As of December 31, 2022, the Company had commitments of approximately $771 million to fund future MMLs. These commitments are contingent upon the availability of MMLs that meet the Company's underwriting criteria. Credit Quality Indicators For TREs, the Company’s key credit quality indicator is loan-to-value (LTV). Given that TRE loans involve properties undergoing renovation or construction, loan-to-value provides the most insight into the credit risk of the loan. The Company monitors the performance of the loans periodically, but not less frequently than quarterly. For CMLs, the Company’s key credit quality indicators include LTV and debt service coverage ratios (DSCR). LTV is calculated by dividing the current outstanding loan balance by the most recent estimated property value. DSCR is the most recently available operating income of the underlying property compared to the required debt service of the loan. For MMLs and held-to-maturity fixed maturity securities, the Company’s key credit quality indicator is credit ratings. The Company’s held-to-maturity portfolio is composed of investment grade securities that are senior unsecured instruments, while its MMLs generally have below-investment-grade ratings but are typically senior secured instruments. The Company monitors the credit ratings periodically, but not less frequently than quarterly. For the Company’s reinsurance recoverable balance, the key credit quality indicator is the credit rating of the Company’s reinsurance counterparty. The Company uses external credit ratings focused on the reinsurer’s financial strength and credit worthiness. As of December 31, 2022, the Company's reinsurance counterparties are rated A+. The Company monitors the credit ratings periodically, but not less frequently than quarterly. The following tables present as of December 31, 2022 the amortized cost basis of TREs, CMLs and MMLs by year of origination and credit quality indicator . Transitional Real Estate Loans (In millions) 2022 2021 2020 2019 2018 Prior Total Loan-to-Value Ratio: 0%-59.99% $ 532 $ 596 $ 36 $ 153 $ 61 $ 0 $ 1,378 60%-69.99% 679 769 138 485 425 50 2,546 70%-79.99% 787 940 97 389 146 1 2,360 80% or greater 64 161 0 0 0 0 225 Total $ 2,062 $ 2,466 $ 271 $ 1,027 $ 632 $ 51 $ 6,509 Commercial Mortgage Loans (In millions) 2022 2021 2020 2019 2018 Prior Total Weighted-Average DSCR Loan-to-Value Ratio: 0%-59.99% $ 228 $ 310 $ 46 $ 510 $ 151 $ 492 $ 1,737 2.16 60%-69.99% 0 15 0 46 0 135 196 2.03 70%-79.99% 0 0 0 40 0 24 64 2.21 80% or greater 0 0 0 0 0 25 25 1.41 Total $ 228 $ 325 $ 46 $ 596 $ 151 $ 676 $ 2,022 2.14 Weighted Average DSCR 0.00 2.83 1.92 2.50 2.02 2.26 Middle Market Loans (In millions) 2022 2021 2020 2019 2018 Prior Revolving Loans Total Credit Ratings: BBB $ 63 $ 144 $ 70 $ 37 $ 19 $ 0 $ 133 $ 466 BB 333 451 300 203 80 44 362 1,773 B 252 678 411 483 240 218 311 2,593 CCC 0 15 20 85 59 78 53 310 CC 0 0 0 0 14 0 1 15 C and lower 0 0 0 0 0 0 0 0 Total $ 648 $ 1,288 $ 801 $ 808 $ 412 $ 340 $ 860 $ 5,157 Allowance for Credit Losses The Company calculates its allowance for credit losses for held-to-maturity fixed maturity securities, loan receivables, loan commitments and reinsurance recoverable by grouping assets with similar risk characteristics when there is not a specific expectation of a loss for an individual asset. For held-to-maturity fixed maturity securities, MMLs, and MML commitments, the Company groups assets by credit ratings, industry, and country. The Company groups CMLs and TREs and respective loan commitments by property type, property location and the property’s LTV and DSCR. The credit allowance for the reinsurance recoverable balance is estimated using a probability-of-default (PD) / loss-given-default (LGD) method. The credit allowance for held-to-maturity fixed maturity securities and loan receivables is estimated using a PD / LGD method, discounted for the time value of money. For held-to-maturity fixed maturity securities, available-for-sale fixed maturity securities and loan receivables, the Company includes the change in present value due to the passage of time in the change in the allowance for credit losses. The Company’s methodology for estimating credit losses utilizes the contractual maturity date of the financial asset, adjusted when necessary to reflect the expected timing of repayment (such as prepayment options, renewal options, call options, or extension options). The Company applies reasonable and supportable forecasts of macroeconomic variables that impact the determination of PD/LGD over a two-year period for held-to-maturity fixed maturity securities and MMLs. The Company reverts to historical loss information over one year, following the two-year forecast period. For the CML and TRE portfolio, the Company applies reasonable and supportable forecasts of macroeconomic variables as well as national and local real-estate market factors to estimate future credit losses where the market factors revert back to historical levels over time with the period being dependent on current market conditions, projected market conditions and difference in the current and historical market levels for each factor. The Company continuously monitors the estimation methodology, due to changes in portfolio composition, changes in underwriting practices and significant events or conditions and makes adjustments as necessary. The Company’s held-to-maturity fixed maturity portfolio includes Japan Government and Agency securities of $18.1 billion amortized cost as of December 31, 2022 that meet the requirements for zero-credit-loss expectation and therefore these asset classes have been excluded from the current expected credit loss measurement. An investment in an available-for-sale fixed maturity security may be impaired if the fair value falls below amortized cost. The Company regularly reviews its fixed maturity security investments portfolio for declines in fair value. The Company's debt impairment model focuses on the ultimate collection of the cash flows from its investments and whether the Company has the intent to sell or if it is more likely than not the Company would be required to sell the security prior to recovery of its amortized cost. The determination of the amount of impairments under this model is based upon the Company's periodic evaluation and assessment of known and inherent risks associated with the respective securities. Such evaluations and assessments are revised as conditions change and new information becomes available. When determining the Company's intention to sell a security prior to recovery of its fair value to amortized cost, the Company evaluates facts and circumstances such as, but not limited to, future cash flow needs, decisions to reposition its security portfolio, and risk profile of individual investment holdings. The Company performs ongoing analyses of its liquidity needs, which includes cash flow testing of its policy liabilities, debt maturities, projected dividend payments, and other cash flow and liquidity needs. The Company’s methodology for estimating credit losses for available-for-sale fixed maturity securities utilizes the discounted cash flow model, based on past events, current market conditions and future economic conditions, as well as industry analysis and credit ratings of the fixed maturity securities. In addition, the Company evaluates the specific issuer’s probability of default and expected recovery of its position in the event of default based on the underlying financial condition and assets of the borrower as well as seniority and/or security of other debt holders in the issuer when developing management’s best estimate of expected cash flows. The Company granted certain loan modifications in its MML and TRE portfolios during the year ended December 31, 2022. As of December 31, 2022 these loan modifications did not have a material impact on the Company’s results of operations. The Company had no troubled debt restructurings (TDRs) during the years ended December 31, 2022, and 2021. The Company designates nonaccrual status for a nonperforming debt security or a loan that is not generating its stated interest rate because of nonpayment of periodic interest by the borrower. The Company applies the cash basis method to record any payments received on non-accrual assets. The Company resumes the accrual of interest on fixed maturity securities and loans that are currently making contractual payments or for those that are not current where the borrower has paid timely (less than 30 days outstanding). As of December 31, 2022 and 2021, the Company had an immaterial amount of loans and fixed maturity securities on nonaccrual status. The following table presents the roll forward of the allowance for credit losses by portfolio segment for the years ended December 31 . (In millions) Transitional Real Estate Loans Commercial Mortgage Loans Middle Market Loans Held to Maturity Securities Available for Sale Securities Reinsurance Recoverables Balance at December 31, 2019 (1) $ (22) $ (3) $ (20) $ 0 $ 0 $ 0 Transition impact to retained earnings (2) (8) (33) (10) 0 (11) (Addition to) release of allowance for credit (39) (21) (41) 0 (75) (1) Write-offs, net of recoveries 0 0 9 0 37 0 Balance at December 31, 2020 (63) (32) (85) (10) (38) (12) (Addition to) release of allowance for credit (5) 22 (11) 1 26 (2) Write-offs, net of recoveries 0 0 0 0 12 0 Change in foreign exchange 0 0 0 1 0 1 Balance at December 31, 2021 (68) (10) (96) (8) 0 (13) (Addition to) release of allowance for credit 14 1 (39) 0 0 2 Write-offs, net of recoveries 0 0 6 0 0 0 Change in foreign exchange 0 0 0 1 0 3 Balance at December 31, 2022 $ (54) $ (9) $ (129) $ (7) $ 0 $ (8) (1) U.S. GAAP guidance adopted as of January 1, 2020 has superseded these losses, included for comparative purposes only. For assets that are subject to the credit loss measurement, the change in credit loss allowance will be significantly impacted by purchases and sales in those assets during the period as well as entering into new non-cancelable loan commitments. The estimate of credit losses for loan commitments was $24 million and $31 million as of December 31, 2022, and 2021, respectively. Other Investments The table below reflects the composition of the carrying value for other investments as of December 31. (In millions) 2022 2021 Other investments: Policy loans $ 214 $ 236 Short-term investments (1) 1,532 1,726 Limited partnerships 2,290 1,858 Other 34 22 Total other investments $ 4,070 $ 3,842 (1) Includes securities lending collateral The Parent Company invests in partnerships that specialize in rehabilitating historic structures or the installation of solar equipment in order to receive federal historic rehabilitation and solar tax credits. These investments are classified as limited partnerships and included in other investments in the consolidated balance sheet. The change in value of each investment is recorded as a reduction to net investment income. Tax credits generated by these investments are recorded as an income tax benefit in the consolidated statement of earnings. As of December 31, 2022, the Company had $2.1 billion in outstanding commitments to fund alternative investments in limited partnerships. Variable Interest Entities (VIEs) As a condition of its involvement or investment in a VIE, the Company enters into certain protective rights and covenants that preclude changes in the structure of the VIE that would alter the creditworthiness of the Company's investment or its beneficial interest in the VIE. For those VIEs other than certain unit trust structures, the Company's involvement is passive in nature. The Company is not, nor has it been, required to purchase any securities issued in the future by these VIEs. The Company's ownership interest in VIEs is limited to holding the obligations issued by them. The Company has no direct or contingent obligations to fund the limited activities of these VIEs, nor does it have any direct or indirect financial guarantees related to the limited activities of these VIEs. The Company has not provided any assistance or any other type of financing support to any of the VIEs it invests in, nor does it have any intention to do so in the future. For those VIEs in which the Company holds debt obligations, the weighted-average lives of the Company's notes are very similar to the underlying collateral held by these VIEs where applicable. The Company's risk of loss related to its interests in any of its 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 as of December 31. Investments in Consolidated Variable Interest Entities 2022 2021 (In millions) Amortized Cost (1) Fair Amortized Cost (1) Fair Assets: Fixed maturity securities, available for sale $ 3,223 $ 3,805 $ 3,264 $ 4,490 Commercial mortgage and other loans 10,832 10,762 9,740 9,910 Other investments (2) 1,909 1,909 1,535 1,535 Other assets (3) 62 62 78 78 Total assets of consolidated VIEs $ 16,026 $ 16,538 $ 14,617 $ 16,013 Liabilities: Other liabilities (3) $ 390 $ 390 $ 414 $ 414 Total liabilities of consolidated VIEs $ 390 $ 390 $ 414 $ 414 (1) Net of allowance for credit losses (2) Consists entirely of alternative investments in limited partnerships (3) Consists entirely of derivatives The Company is substantively the only investor in the consolidated VIEs listed in the table above. As the sole investor in these VIEs, the Company has the power to direct the activities of a variable interest entity that most significantly impact the entity's economic performance and is therefore considered to be the primary beneficiary of the VIEs that it consolidates. The Company also participates in substantially all of the variability created by these VIEs. The activities of these VIEs are limited to holding invested assets and foreign currency swaps, as appropriate, and utilizing the cash flows from these securities to service its investment. Neither the Company nor any of its 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, the Company is not a direct counterparty to the swap contracts and has no control over them. The Company's loss exposure to these VIEs is limited to its original investment. The Company's 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 its investment in unit trust structures, the underlying collateral assets and funding of the Company's consolidated VIEs are generally static in nature. Investments in Unit Trust Structures The Company also utilizes unit trust structures in its Aflac Japan segment to invest in various asset classes. As the sole investor of these VIEs, the Company is required to consolidate these trusts under U.S. GAAP. VIEs - Not Consolidated The table below reflects the amortized cost, fair value and balance sheet caption in which the Company's investment in VIEs not

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	12 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS	DERIVATIVE INSTRUMENTS The Company's freestanding derivative financial instruments have historically consisted of: • foreign currency forwards and options used in hedging foreign exchange risk on U.S. dollar-denominated investments in Aflac Japan's portfolio, with options used on a standalone basis and/or in a collar strategy; • foreign currency forwards and options used to economically hedge certain portions of forecasted cash flows denominated in yen and hedge the Company's long term exposure to a weakening yen; • cross-currency interest rate swaps, also referred to as foreign currency swaps, associated with certain senior notes and subordinated debentures; • foreign currency swaps that are associated with VIE bond purchase commitments, and investments in special-purpose entities, including VIEs where the Company is the primary beneficiary; • interest rate swaps used to economically hedge interest rate fluctuations in certain variable-rate investments; • interest rate swaptions used to hedge changes in the fair value associated with interest rate fluctuations for certain U.S. dollar-denominated available-for-sale fixed-maturity securities; and • bond purchase commitments at the inception of investments in consolidated VIEs. Some of the Company's derivatives are designated as cash flow hedges, fair value hedges or net investment hedges; however, other derivatives do not qualify for hedge accounting or the Company elects not to designate them as accounting hedges. Derivative Types Foreign currency forwards and options are executed for the Aflac Japan segment in order to hedge the currency risk on the carrying value of certain U.S. dollar-denominated investments. The average maturity of these forwards and options can change depending on factors such as market conditions and types of investments being held. In situations where the maturity of the forwards and options is shorter than the underlying investment being hedged, the Company may enter into new forwards and options near maturity of the existing derivative in order to continue hedging the underlying investment. 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. The Company also uses one-sided foreign currency put options to mitigate the settlement risk on U.S. dollar-denominated assets related to extreme foreign currency rate changes. From time to time, Aflac Japan also executes foreign currency option transactions in a collar strategy, where Aflac Japan agrees with another party to simultaneously purchase put options and sell call options. In the purchased put transactions, Aflac Japan obtains the option to buy a fixed amount of yen and sell a corresponding amount of U.S. dollars at a specified future date. In the sold call transactions, Aflac Japan agrees to sell a fixed amount of yen and buy a corresponding amount of U.S. dollars at a specified future date. The combination of purchasing the put option and selling the call option results in no net premium being paid (i.e. a costless or zero-cost collar) In 2021, the Company moved to a strategy that contains one-sided put options, fewer foreign currency forwards and no collars in order to reduce its exposure to pricing volatility and the related risk of negative settlements should there be a material weakening in the yen. From time to time, the Company may also enter into foreign currency forwards and options to hedge the currency risk associated with the net investment in Aflac Japan. In these forward transactions, the Company agrees with another party to buy a fixed amount of U.S. dollars and sell a corresponding amount of yen at a specified price at a specified future date. In the option transactions, the Company may 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 create a zero-cost collar. Additionally, the Company enters into purchased options to hedge cash flows from the net investment in Aflac Japan. The Company enters into foreign currency swaps pursuant to which it exchanges an initial principal amount in one currency for an initial principal amount of another currency, with an agreement to re-exchange the principal amounts at a future date. 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 the Company's Aflac Japan portfolio to convert foreign-denominated cash flows to yen, the functional currency of Aflac Japan, in order to minimize cash flow fluctuations. The Company also uses foreign currency swaps to economically convert certain of its U.S. dollar-denominated senior note and subordinated debenture principal and interest obligations into yen-denominated obligations. In order to reduce investment income volatility from its variable-rate investments, the Company enters into receive–fixed, pay–floating interest rate swaps. These derivatives are cleared and settled through a central clearinghouse. Swaptions are used to mitigate the adverse impact resulting from significant changes in the fair value of U.S. dollar-denominated available-for-sale securities due to fluctuation in interest rates. In a payer swaption, the Company pays a premium to obtain the right, but not the obligation, to enter into a swap contract where it will pay a fixed rate and receive a floating rate. Interest rate swaption collars are combinations of two swaption positions. In order to maximize the efficiency of the collars while minimizing cost, a collar strategy is used whereby the Company purchases a long payer swaption (the Company purchases an option that allows it to enter into a swap where the Company will pay the fixed rate and receive the floating rate of the swap) and sells a short receiver swaption (the Company sells an option that provides the counterparty with the right to enter into a swap where the Company will receive the fixed rate and pay the floating rate of the swap). The combination of purchasing the long payer swaption and selling the short receiver swaption results in no net premium being paid (i.e. a costless or zero-cost collar). Bond purchase commitments result from repackaged bond structures that are consolidated VIEs whereby there is a delay in the trade date and settlement date of the bond within the structure to ensure completion of all necessary legal agreements to support the consolidated VIE that issues the repackaged bond. Since the Company has a commitment to purchase the underlying bond at a specified price, the agreement meets the definition of a derivative where the value is derived based on the current market value of the bond compared to the fixed purchase price to be paid on the settlement date. Derivative Balance Sheet Classification The table below summarizes the balance sheet classification of the Company's derivative fair value amounts, as well as the gross asset and liability fair value amounts, at December 31. The fair value amounts presented do not include income accruals. Derivative assets are included in “Other Assets,” while derivative liabilities are included in “Other Liabilities” within the Company’s Consolidated Balance Sheets. The notional amount of derivative contracts represents the basis upon which pay or receive amounts are calculated and are not reflective of exposure or credit risk. 2022 2021 (In millions) Asset Liability Asset Liability Hedge Designation/ Derivative Notional Fair Value Fair Value Notional Fair Value Fair Value Cash flow hedges: Foreign currency swaps - VIE $ 18 $ 0 $ 3 $ 18 $ 0 $ 2 Total cash flow hedges 18 0 3 18 0 2 Fair value hedges: Foreign currency forwards 0 0 0 62 0 5 Foreign currency options 7,940 45 0 8,829 5 0 Total fair value hedges 7,940 45 0 8,891 5 5 Net investment hedge: Foreign currency forwards 4,982 383 85 4,996 341 0 Foreign currency options 2,630 7 0 1,949 0 0 Total net investment hedge 7,612 390 85 6,945 341 0 Non-qualifying strategies: Foreign currency swaps 1,900 66 0 2,250 59 13 Foreign currency swaps - VIE 3,420 62 387 3,151 78 412 Foreign currency forwards 5,049 17 640 15,953 450 1,133 Foreign currency options 5,521 30 0 2,746 3 0 Interest rate swaps 17,730 7 583 3,500 0 54 Total non-qualifying strategies 33,620 182 1,610 27,600 590 1,612 Total derivatives $ 49,190 $ 617 $ 1,698 $ 43,454 $ 936 $ 1,619 Cash Flow Hedges For certain variable-rate U.S. dollar-denominated available-for-sale securities held by Aflac Japan via consolidated VIEs, foreign currency swaps are used to swap the U.S. Dollar (USD) variable rate interest and principal payments to fixed rate Japanese Yen (JPY) interest and principal payments. The Company has designated foreign currency swaps 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). The remaining maximum length of time for which these cash flows are hedged is approximately four years. The derivatives in the Company's consolidated VIEs that are not designated as accounting hedges are discussed in the "non-qualifying strategies" section of this note. Fair Value Hedges The Company designates and accounts for certain foreign currency forwards, options, and interest rate swaptions as fair value hedges when they meet the requirements for hedge accounting. The Company recognizes gains and losses on these derivatives as well as the offsetting gain or loss on the related hedged items in current earnings. Foreign currency forwards and options hedge the foreign currency exposure of certain U.S. dollar-denominated available-for-sale fixed-maturity investments held in Aflac Japan. 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 recognized in current earnings and is excluded from the assessment of hedge effectiveness. Interest rate swaptions hedge the interest rate exposure of certain U.S. dollar-denominated available-for-sale securities held in Aflac Japan. For these hedging relationships, the Company excludes time value from the assessment of hedge effectiveness and recognizes changes in the intrinsic value of the swaptions in current earnings within net investment income. The change in the time value of the swaptions is recognized in other comprehensive income (loss) and amortized into earnings (net investment income) over its legal term. The following table presents the gains and losses on derivatives and the related hedged items in fair value hedges for the years ended December 31. Fair Value Hedging Relationships (In millions) Hedging Derivatives Hedged Items Hedging Derivatives Hedged Items Total Gains (Losses) (1) Gains (Losses) (2) Gains (Losses) (2) Net Investment Gains (Losses) Recognized for Fair Value Hedge 2022: Foreign currency options Fixed maturity securities $ (18) $ (18) $ 0 $ 0 $ 0 Total gains (losses) $ (18) $ (18) $ 0 $ 0 $ 0 2021: Foreign currency forwards Fixed maturity securities $ (7) $ 0 $ (7) $ 6 $ (1) Foreign currency options Fixed maturity securities (26) (25) (1) 4 3 Total gains (losses) $ (33) $ (25) $ (8) $ 10 $ 2 2020: Foreign currency forwards Fixed maturity securities $ (14) $ (8) $ (6) $ 7 $ 1 Foreign currency options Fixed maturity securities (9) (8) (1) 1 0 Total gains (losses) $ (23) $ (16) $ (7) $ 8 $ 1 (1) Gains (losses) excluded from effectiveness testing includes the forward point on foreign currency forwards and time value change on foreign currency options which are reported in the consolidated statement of earnings as net investment gains (losses). It also includes the change in the fair value of the interest rate swaptions related to the time value of the swaptions which is recognized as a component of other comprehensive income (loss). (2) Gains and losses on foreign currency forwards and options and related hedged items are reported in the consolidated statement of earnings as net investment gains (losses). For interest rate swaptions and related hedged items, gains and losses included in the hedge assessment, premium amortization and time value amortization while the hedge items are still outstanding are reported within net investment income. The time value gains and losses for interest rate swaptions when the related hedged items are redeemed are reported in net investment gains and losses consistent with the impact of the hedged item. For the years ended December 31, 2022 and 2021, gains and losses included in the hedge assessment on interest rate swaptions and related hedged items were immaterial. The following table shows the carrying amounts of assets designated and qualifying as hedged items in fair value hedges of interest rate risk and the related cumulative hedge adjustment included in the carrying amount as of December 31. (In millions) Carrying Amount of the Hedged Assets/(Liabilities) (1) Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of Hedged Assets/(Liabilities) 2022 2021 2022 2021 Fixed maturity securities $ 2,360 $ 3,038 $ 189 $ 205 (1) The balance includes hedging adjustment on discontinued hedging relationships of $189 in 2022 and $205 in 2021. Net Investment Hedge The Company's investment in Aflac Japan is affected by changes in the yen/dollar exchange rate. To mitigate this exposure, the Parent Company's yen-denominated liabilities (see Note 9) have been designated as non-derivative hedges and certain foreign currency forwards and options have been designated as derivative hedges of the foreign currency exposure of the Company's net investment in Aflac Japan. The Company's net investment hedge was effective during the years ended December 31, 2022, 2021 and 2020. Non-qualifying Strategies For the Company's 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 net investment gains (losses). The amount of gain or loss recognized in earnings for the Company's 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 securities associated with these swaps is recorded through other comprehensive income. As of December 31, 2022, the Parent Company had $1.9 billion notional amount of cross-currency interest rate swap agreements related to certain of its U.S. dollar-denominated senior notes to effectively convert a portion of the interest on the notes from U.S dollar to Japanese yen. Changes in the values of these swaps are recorded through current period earnings. For additional information regarding these swaps, see Note 9. The Company uses foreign exchange forwards and options to economically mitigate the currency risk of some of its U.S. dollar-denominated loan receivables held within the Aflac Japan segment. These arrangements are not designated as accounting hedges, as the foreign currency remeasurement of the loan receivables impacts current period earnings, and substantially offsets gains and losses from foreign exchange forwards within net investment gains (losses). The Company also has certain foreign exchange forwards on U.S. dollar-denominated available-for-sale securities where hedge accounting is not being applied. The Company uses interest rate swaps to economically convert the variable rate investment income to a fixed rate on certain variable-rate investments. Impact of Derivatives and Hedging Instruments The following table summarizes the impact to earnings and other comprehensive income (loss) from all derivatives and hedging instruments for the years ended December 31. 2022 2021 2020 (In millions) Net Investment Income (1) Net Investment Other (2) Net Investment Income (1) Net Investment Other (2) Net Investment Income (1) Net Investment Other (2) Qualifying hedges: Cash flow hedges: Foreign currency swaps - VIE $ (1) $ (4) $ 4 $ (1) $ (4) $ 3 $ (1) $ 0 $ (2) Total cash flow hedges (1) (4) (3) 4 (1) (4) (3) 3 (1) 0 (3) (2) Fair value hedges: Foreign currency forwards (3) 0 (1) (7) Foreign currency options (3) (18) (22) (8) Interest rate swaptions (3) 0 0 0 (1) (1) 2 (1) 0 1 Total fair value hedges 0 (18) 0 (1) (24) 2 (1) (15) 1 Net investment hedge: Non-derivative hedging 0 371 0 328 0 (135) Foreign currency forwards (80) 673 29 525 149 (282) Foreign currency options (1) 0 (4) 0 (5) 0 Total net investment hedge (81) 1,044 25 853 144 (417) Non-qualifying strategies: Foreign currency swaps 159 135 29 Foreign currency swaps - VIE 9 (188) (122) Foreign currency forwards (650) (707) 311 Foreign currency options 0 (3) (3) Interest rate swaps (546) (38) 49 Interest rate swaptions 1 0 0 Forward bond purchase (21) (1) 6 Total non-qualifying strategies (1,048) (802) 270 Total $ (1) $ (1,151) $ 1,048 $ (2) $ (805) $ 858 $ (2) $ 399 $ (418) (1) Interest expense/income on cash flow hedges are recorded in net investment income. For interest rate swaptions classified as fair value hedges, the change in the time value of the swaptions is recognized in other comprehensive income (loss) and amortized into net investment income over its legal term. If the swaption is early terminated but the hedge item is still outstanding, the amortization of disposal amount of the swaptions is recorded in net investment income over the remaining life of the hedged items. (2) Gains and losses on cash flow hedges and the change in the fair value of interest rate swaptions related to the time value of the swaptions in fair value hedges are recorded as unrealized gains (losses). Gains and losses on net investment hedges related to changes in foreign currency spot rates are recorded in the unrealized foreign currency translation gains (losses) line in the consolidated statement of comprehensive income (loss). (3) Impact of cash flow hedges reported as net investment gains (losses) includes $4 of losses reclassified from accumulated other comprehensive income (loss) into earnings during the year ended December 31, 2022, compared with $4 of losses and an immaterial amount during the years ended December 31, 2021 and 2020, respectively. In addition, $1 of losses were reclassified from accumulated other comprehensive income (loss) into earnings during the year ended December 31, 2022, compared with $2 of losses and an immaterial amount during the years ended December 31, 2021 and 2020, respectively, related to fair value hedges excluded component. Impact shown net of effect of hedged items (see Fair Value Hedges section of this Note 4 for further detail). As of December 31, 2022, $5 million of deferred losses on derivative instruments recorded in accumulated other comprehensive income are expected to be reclassified into earnings during the next twelve months. Credit Risk Assumed through Derivatives For the foreign currency swaps associated with the Company's VIE investments for which it is the primary beneficiary, the Company bears the risk of loss due to counterparty default even though it is not a direct counterparty to those contracts. The Company is a direct counterparty to the foreign currency swaps that it has entered into in connection with certain of its senior notes and subordinated debentures; foreign currency forwards; and foreign currency options, and therefore the Company is exposed to credit risk in the event of nonperformance by the counterparties in those contracts. The risk of counterparty default for the Company's foreign currency swaps, certain foreign currency forwards, and foreign currency options is mitigated by collateral posting requirements that counterparties to those transactions must meet. As of December 31, 2022, all of the Company's derivative agreement counterparties were investment grade. The Company engages in over-the-counter (OTC) bilateral 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 Annexes (CSAs) provisions, which generally provide for two-way collateral postings at the first dollar of exposure. The Company mitigates 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. In addition, a significant portion of the derivative transactions have provisions that give the counterparty the right to terminate the transaction upon a downgrade of the Company's financial strength rating. The actual amount of payments that the Company 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 Company also engages in OTC cleared derivative transactions through regulated central clearing counterparties. These positions are marked to market and margined on a daily basis (both initial margin and variation margin), and the Company has minimal exposure to credit-related losses in the event of nonperformance by counterparties to these derivatives. Collateral posted by the Company to third parties for derivative transactions 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 $1.3 billion and $904 million as of December 31, 2022 and 2021, respectively. If the credit-risk-related contingent features underlying these agreements had been triggered on December 31, 2022, the Company estimates that it would be required to post a maximum of $167 million of additional collateral to these derivative counterparties. The Company is generally allowed to sell or repledge collateral obtained from its derivative counterparties, although it does not typically exercise such rights. (See the Offsetting tables below for collateral posted or received as of the reported balance sheet dates.) Offsetting of Financial Instruments and Derivatives Most 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 its subsidiaries and the respective counterparty in the event of default or upon the occurrence of certain termination events. Collateral support agreements with the master netting arrangements generally provide that the Company will receive or pledge financial collateral at the first dollar of exposure. The Company has securities lending agreements with unaffiliated financial institutions that post collateral to the Company in return for the use of its fixed maturity and public equity securities (see Note 3). When the Company has 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 the Company to keep and apply collateral received if the counterparty failed to return the securities borrowed from the Company as contractually agreed. For additional information on the Company's accounting policy for securities lending, see Note 1. The tables below summarize the Company's derivatives and securities lending transactions as of December 31, and as reflected in the tables, in accordance with U.S. GAAP, the Company's policy is to not offset these financial instruments in the Consolidated Balance Sheets. Offsetting of Financial Assets and Derivative Assets 2022 Gross Amounts Not Offset (In millions) Gross Amount of Recognized Assets Gross Amount Offset in Balance Sheet Net Amount of Assets Presented Financial Instruments Securities Cash Collateral Received Net Derivative Derivative assets subject to a master netting agreement or offsetting arrangement OTC - bilateral $ 548 $ 0 $ 548 $ (167) $ (60) $ (320) $ 1 OTC - cleared 7 0 7 (7) 0 0 0 Total derivative 555 0 555 (174) (60) (320) 1 Derivative assets not subject to a master netting agreement or offsetting arrangement OTC - bilateral 62 62 62 Total derivative 62 62 62 Total derivative 617 0 617 (174) (60) (320) 63 Securities lending 1,788 0 1,788 0 0 (1,788) 0 Total $ 2,405 $ 0 $ 2,405 $ (174) $ (60) $ (2,108) $ 63 2021 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 Financial Securities Collateral Cash Collateral Received Net Derivative Derivative assets subject to a master netting agreement or offsetting arrangement OTC - bilateral $ 858 $ 0 $ 858 $ (471) $ (53) $ (334) $ 0 Total derivative 858 0 858 (471) (53) (334) 0 Derivative assets not subject to a master netting agreement or offsetting arrangement OTC - bilateral 78 78 78 Total derivative 78 78 78 Total derivative 936 0 936 (471) (53) (334) 78 Securities lending 2,124 0 2,124 0 0 (2,124) 0 Total $ 3,060 $ 0 $ 3,060 $ (471) $ (53) $ (2,458) $ 78 Offsetting of Financial Liabilities and Derivative Liabilities 2022 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 Financial Instruments Securities Collateral Cash Collateral Pledged Net Derivative Derivative liabilities subject to a master netting agreement or offsetting arrangement OTC - bilateral $ 725 $ 0 $ 725 $ (167) $ (506) $ (52) $ 0 OTC - cleared 583 0 583 (7) 0 (577) (1) Total derivative 1,308 0 1,308 (174) (506) (629) (1) Derivative liabilities not subject to a master netting agreement or offsetting arrangement OTC - bilateral 390 390 390 Total derivative 390 390 390 Total derivative 1,698 0 1,698 (174) (506) (629) 389 Securities lending 1,809 0 1,809 (1,788) 0 0 21 Total $ 3,507 $ 0 $ 3,507 $ (1,962) $ (506) $ (629) $ 410 2021 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 Financial Instruments Securities Collateral Cash Collateral Pledged Net Derivative Derivative liabilities subject to a master netting agreement or offsetting arrangement OTC - bilateral $ 1,151 $ 0 $ 1,151 $ (471) $ (662) $ (14) $ 4 OTC - cleared 54 0 54 0 0 (35) 19 Total derivative 1,205 0 1,205 (471) (662) (49) 23 Derivative liabilities not subject to a master netting agreement or offsetting arrangement OTC - bilateral 414 414 414 Total derivative 414 414 414 Total derivative 1,619 0 1,619 (471) (662) (49) 437 Securities lending 2,162 0 2,162 (2,124) 0 0 38 Total $ 3,781 $ 0 $ 3,781 $ (2,595) $ (662) $ (49) $ 475 For additional information on the Company's financial instruments, see the accompanying Notes 1, 3 and 5.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2022
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 as of December 31. 2022 (In millions) Quoted Prices in Significant Significant Total Assets: Securities available for sale, carried at Fixed maturity securities: Government and agencies $ 24,158 $ 956 $ 0 $ 25,114 Municipalities 0 2,320 0 2,320 Mortgage- and asset-backed securities 0 1,803 343 2,146 Public utilities 0 7,169 497 7,666 Sovereign and supranational 0 797 37 834 Banks/financial institutions 0 9,140 159 9,299 Other corporate 0 27,620 742 28,362 Total fixed maturity securities 24,158 49,805 1,778 75,741 Equity securities 822 60 209 1,091 Other investments 1,532 0 0 1,532 Cash and cash equivalents 3,943 0 0 3,943 Other assets: Foreign currency swaps 0 128 0 128 Foreign currency forwards 0 400 0 400 Foreign currency options 0 82 0 82 Interest rate swaps 0 7 0 7 Total other assets 0 617 0 617 Total assets $ 30,455 $ 50,482 $ 1,987 $ 82,924 Liabilities: Other liabilities: Foreign currency swaps $ 0 $ 390 $ 0 $ 390 Foreign currency forwards 0 725 0 725 Interest rate swaps 0 583 0 583 Total liabilities $ 0 $ 1,698 $ 0 $ 1,698 2021 (In millions) Quoted Prices in Significant Significant Total Assets: Securities available for sale, carried at Fixed maturity securities: Government and agencies $ 32,532 $ 1,288 $ 0 $ 33,820 Municipalities 0 3,036 0 3,036 Mortgage- and asset-backed securities 0 955 291 1,246 Public utilities 0 9,558 493 10,051 Sovereign and supranational 0 1,072 43 1,115 Banks/financial institutions 0 11,546 45 11,591 Other corporate 0 37,411 426 37,837 Total fixed maturity securities 32,532 64,866 1,298 98,696 Equity securities 1,340 90 173 1,603 Other investments 1,726 0 0 1,726 Cash and cash equivalents 5,051 0 0 5,051 Other assets: Foreign currency swaps 0 137 0 137 Foreign currency forwards 0 791 0 791 Foreign currency options 0 8 0 8 Total other assets 0 936 0 936 Total assets $ 40,649 $ 65,892 $ 1,471 $ 108,012 Liabilities: Other liabilities: Foreign currency swaps $ 0 $ 427 $ 0 $ 427 Foreign currency forwards 0 1,138 0 1,138 Interest rate swaps 0 54 0 54 Total liabilities $ 0 $ 1,619 $ 0 $ 1,619 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 as of December 31. 2022 (In millions) Carrying Quoted Prices in Significant Significant Total Assets: Securities held to maturity, Fixed maturity securities: Government and agencies $ 18,267 $ 20,132 $ 180 $ 0 $ 20,312 Municipalities 287 0 335 0 335 Public utilities 37 0 41 0 41 Sovereign and 446 0 500 0 500 Other corporate 19 0 22 0 22 Commercial mortgage and 13,496 0 0 13,212 13,212 Other investments (1) 34 0 34 0 34 Total assets $ 32,586 $ 20,132 $ 1,112 $ 13,212 $ 34,456 Liabilities: Other policyholders’ funds $ 6,123 $ 0 $ 0 $ 6,022 $ 6,022 Notes payable 7,295 0 6,024 802 6,826 Total liabilities $ 13,418 $ 0 $ 6,024 $ 6,824 $ 12,848 (1) Excludes policy loans of $214 and equity method investments of $2,290 at carrying value 2021 (In millions) Carrying Quoted Prices in Significant Significant Total Assets: Securities held to maturity, Fixed maturity securities: Government and agencies $ 21,086 $ 25,469 $ 230 $ 0 $ 25,699 Municipalities 335 0 436 0 436 Public utilities 43 0 55 0 55 Sovereign and 514 0 650 0 650 Other corporate 22 0 29 0 29 Commercial mortgage and 11,786 0 0 11,996 11,996 Other investments (1) 22 0 22 0 22 Total assets $ 33,808 $ 25,469 $ 1,422 $ 11,996 $ 38,887 Liabilities: Other policyholders’ funds $ 7,072 $ 0 $ 0 $ 6,957 $ 6,957 Notes payable 7,839 0 8,280 259 8,539 Total liabilities $ 14,911 $ 0 $ 8,280 $ 7,216 $ 15,496 (1) Excludes policy loans of $236 and equity method investments of $1,858, at carrying value Fair Value of Financial Instruments Fixed maturity and equity securities The Company determines the fair values of fixed maturity 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), in-house valuations and non-binding price quotes the Company obtains from outside brokers. A third party pricing vendor has developed valuation models to determine fair values of privately issued securities and derivatives associated with VIEs. Starting in June 2021 and July 2022, respectively, these models and associated processes and controls were transitioned to and executed by Company personnel. These models are discounted cash flow (DCF) valuation models but also use information from related markets, specifically the credit default swap (CDS) market, to estimate expected cash flows. These models take into consideration any unique characteristics of the securities or derivatives 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 or derivative 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 4) bond indices that are comparative in rating, industry, maturity and region. The pricing data and market quotes the Company obtains from outside sources, including third party pricing services, are reviewed internally for reasonableness. If a fair value appears unreasonable, the Company will re-examine the inputs and assess the reasonableness of the pricing data with the vendor. Additionally, the Company may compare the inputs to relevant market indices and other performance measurements. Based on management's analysis, 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. The Company has performed verification of the inputs and calculations in any valuation models to confirm that the valuations represent reasonable estimates of fair value. For the periods presented, the Company has not adjusted the quotes or prices it obtains from the pricing services and brokers it uses. The following tables present the pricing sources for the fair values of the Company's fixed maturity and equity securities as of December 31. 2022 (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 maturity securities: Government and agencies: Third party pricing vendor $ 24,158 $ 582 $ 0 $ 24,740 Internal 0 374 0 374 Total government and agencies 24,158 956 0 25,114 Municipalities: Third party pricing vendor 0 2,021 0 2,021 Internal 0 299 0 299 Total municipalities 0 2,320 0 2,320 Mortgage- and asset-backed securities: Third party pricing vendor 0 1,798 0 1,798 Internal 0 3 0 3 Broker/other 0 2 343 345 Total mortgage- and asset-backed securities 0 1,803 343 2,146 Public utilities: Third party pricing vendor 0 3,786 0 3,786 Internal 0 3,383 0 3,383 Broker/other 0 0 497 497 Total public utilities 0 7,169 497 7,666 Sovereign and supranational: Third party pricing vendor 0 232 0 232 Internal 0 565 0 565 Broker/other 0 0 37 37 Total sovereign and supranational 0 797 37 834 Banks/financial institutions: Third party pricing vendor 0 4,622 0 4,622 Internal 0 4,518 105 4,623 Broker/other 0 0 54 54 Total banks/financial institutions 0 9,140 159 9,299 Other corporate: Third party pricing vendor 0 22,268 0 22,268 Internal 0 5,352 200 5,552 Broker/other 0 0 542 542 Total other corporate 0 27,620 742 28,362 Total securities available for sale $ 24,158 $ 49,805 $ 1,778 $ 75,741 Equity securities, carried at fair value: Third party pricing vendor $ 822 $ 60 $ 0 $ 882 Broker/other 0 0 209 209 Total equity securities $ 822 $ 60 $ 209 $ 1,091 2022 (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 maturity securities: Government and agencies: Third party pricing vendor $ 20,132 $ 180 $ 0 $ 20,312 Total government and agencies 20,132 180 0 20,312 Municipalities: Third party pricing vendor 0 335 0 335 Total municipalities 0 335 0 335 Public utilities: Third party pricing vendor 0 41 0 41 Total public utilities 0 41 0 41 Sovereign and supranational: Third party pricing vendor 0 242 0 242 Broker/other 0 258 0 258 Total sovereign and supranational 0 500 0 500 Other corporate: Third party pricing vendor 0 22 0 22 Total other corporate 0 22 0 22 Total securities held to maturity $ 20,132 $ 1,078 $ 0 $ 21,210 2021 (In millions) Quoted Prices in Active Markets Significant Observable Significant Unobservable Inputs Total Securities available for sale, carried at fair value: Fixed maturity securities: Government and agencies: Third party pricing vendor $ 32,532 $ 808 $ 0 $ 33,340 Internal 0 480 0 480 Total government and agencies 32,532 1,288 0 33,820 Municipalities: Third party pricing vendor 0 2,222 0 2,222 Internal 0 814 0 814 Total municipalities 0 3,036 0 3,036 Mortgage- and asset-backed securities: Third party pricing vendor 0 955 0 955 Broker/other 0 0 291 291 Total mortgage- and asset-backed securities 0 955 291 1,246 Public utilities: Third party pricing vendor 0 4,527 0 4,527 Internal 0 5,031 0 5,031 Broker/other 0 0 493 493 Total public utilities 0 9,558 493 10,051 Sovereign and supranational: Third party pricing vendor 0 273 0 273 Internal 0 799 0 799 Broker/other 0 0 43 43 Total sovereign and supranational 0 1,072 43 1,115 Banks/financial institutions: Third party pricing vendor 0 5,237 0 5,237 Internal 0 6,309 0 6,309 Broker/other 0 0 45 45 Total banks/financial institutions 0 11,546 45 11,591 Other corporate: Third party pricing vendor 0 29,495 0 29,495 Internal 0 7,916 0 7,916 Broker/other 0 0 426 426 Total other corporate 0 37,411 426 37,837 Total securities available for sale $ 32,532 $ 64,866 $ 1,298 $ 98,696 Equity securities, carried at fair value: Third party pricing vendor $ 1,340 $ 90 $ 0 $ 1,430 Broker/other 0 0 173 173 Total equity securities $ 1,340 $ 90 $ 173 $ 1,603 2021 (In millions) Quoted Prices in Active Markets Significant Observable Significant Unobservable Inputs Total Securities held to maturity, carried at amortized cost: Fixed maturity securities: Government and agencies: Third party pricing vendor $ 25,469 $ 230 $ 0 $ 25,699 Total government and agencies 25,469 230 0 25,699 Municipalities: Third party pricing vendor 0 436 0 436 Total municipalities 0 436 0 436 Public utilities: Third party pricing vendor 0 55 0 55 Total public utilities 0 55 0 55 Sovereign and supranational: Third party pricing vendor 0 313 0 313 Broker/other 0 337 0 337 Total sovereign and supranational 0 650 0 650 Other corporate: Third party pricing vendor 0 29 0 29 Total other corporate 0 29 0 29 Total securities held to maturity $ 25,469 $ 1,400 $ 0 $ 26,869 The following is a discussion of the determination of fair value of the Company's remaining financial instruments. Derivatives The Company uses 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. The significant inputs to pricing derivatives are generally observable in the market or can be derived by observable market data. When these inputs are observable, the derivatives are classified as Level 2. The Company uses present value techniques to value non-option based derivatives. It also uses option pricing models to value option based derivatives. Key inputs are as follows: Instrument Type Level 2 Interest rate derivatives Swap yield curves Basic curves Interest rate volatility (1) Foreign currency exchange rate derivatives - Non-VIES (forwards, swaps and options) Foreign currency forward rates Swap yield curves Basis curves Foreign currency spot rates Cross foreign currency basis curves Foreign currency volatility (1) Foreign currency exchange rate derivatives - VIEs (swaps) Foreign currency spot rates Swap yield curves Credit default swap curves Basis curves Recovery rates Foreign currency forward rates Foreign cross currency basis curves (1) Option-based only The fair values of the foreign currency forwards and options are based on observable market inputs, therefore they are classified as Level 2. The Parent Company has cross-currency swap agreements related to certain of its U.S. dollar-denominated senior notes to effectively convert a portion of the interest on the notes from U.S dollar to Japanese yen. Their fair values are based on observable market inputs, therefore they are classified as Level 2. To determine the fair value of its interest rate derivatives, the Company uses inputs that are generally observable in the market or can be derived from observable market data. Interest rate swaps are cleared trades. In a cleared swap contract, the clearinghouse provides benefits to the counterparties similar to contracts listed for investment traded on an exchange since it maintains a daily margin to mitigate counterparties' credit risk. These derivatives are priced using observable inputs, accordingly, they are classified as Level 2. For its interest rate swaptions, the Company estimates their fair values using observable market data, including interest rate curves and volatility. Their fair values are also classified as Level 2. For derivatives associated with VIEs where the Company is the primary beneficiary, the Company is not the direct counterparty to the swap contracts. Nevertheless, the Company has full transparency into the contracts to properly value the swaps for reporting purposes. Prior to October 1, 2021, these derivatives were classified as Level 3 because certain significant inputs were determined to be unobservable, primarily due to the long duration of the swaps which required extrapolation beyond the observable limits of the curve(s). However, due to the natural aging of the swap portfolio and the continued evolution of capital market inputs, especially the availability of long-term interest rates with tenors beyond 30 years, the Company has concluded that all significant inputs are now observable. As a result, effective October 1, 2021, the Company transferred the derivatives associated with its consolidated VIEs to Level 2 of the fair value hierarchy. For forward bond purchase commitments with VIEs, the fair value of the derivative is based on the difference in the fixed purchase price and the current market value of the related bond prior to the settlement date. Since the bond is typically a public bond with readily available pricing, the derivatives associated with the forward purchase commitment are classified as Level 2 of the fair value hierarchy. Commercial mortgage and other loans Commercial mortgage and other loans include TREs, CMLs and MMLs. The Company's 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 floating-rate benchmark yield plus an appropriate spread that considers other risk factors, such as credit and liquidity risk. 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. Other investments Other investments includes short-term investments that are measured at fair value where amortized cost approximates fair value. Other policyholders' funds The largest component of the other policyholders' funds liability is the Company's annuity line of business in Aflac Japan. The Company's annuities have fixed benefits and premiums. For this product, the Company estimates 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. The Company periodically checks the cash value against discounted cash flow projections for reasonableness. The Company considers its inputs for this valuation to be unobservable and have accordingly classified this valuation as Level 3. Notes payable Transfers between Hierarchy Levels and Level 3 Rollforward Assets and liabilities are transferred into Level 3 when a significant input cannot be corroborated with market observable data. This occurs when market activity decreases significantly and underlying inputs cannot be observed, current prices are not available, and/or when there are significant variances in quoted prices, thereby affecting transparency. Assets and liabilities are transferred out of Level 3 when circumstances change such that a significant input can be corroborated with market observable data. This may be due to a significant increase in market activity, a specific event, or one or more significant input(s) becoming observable. Effective October 1, 2021, the foreign exchange swaps discussed above were transferred from Level 3 to Level 2 because the significant inputs used for their valuation that were previously unobservable are now observable. The following tables present the changes in fair value of the Company's investments and derivatives carried at fair value classified as Level 3 as of December 31. Derivative assets and liabilities are presented as a net value. 2022 Fixed Maturity Securities Equity Derivatives (In millions) Mortgage- Public Sovereign Banks/ Other Foreign Total Balance, beginning of period $ 291 $ 493 $ 43 $ 45 $ 426 $ 173 $ 0 $ 1,471 Net investment gains (losses) included (4) 4 0 1 0 4 0 5 Unrealized gains (losses) included in (76) (99) (6) (14) (93) 0 0 (288) Purchases, issuances, sales Purchases 273 35 0 132 387 59 0 886 Issuances 0 0 0 0 0 0 0 0 Sales 0 0 0 0 0 0 0 0 Settlements (78) (64) 0 (23) (187) (7) 0 (359) Transfers into Level 3 0 128 0 18 350 0 0 496 Transfers out of Level 3 (63) 0 0 0 (141) (20) 0 (224) Balance, end of period $ 343 $ 497 $ 37 $ 159 $ 742 $ 209 $ 0 $ 1,987 Changes in unrealized gains (losses) $ (4) $ 1 $ 0 $ 0 $ 0 $ 1 $ 0 $ (2) 2021 Fixed Maturity Securities Equity Derivatives (In millions) Mortgage- Public Sovereign Banks/ Other Foreign Total Balance, beginning of period $ 224 $ 422 $ 48 $ 24 $ 299 $ 102 $ (98) $ 1,021 Net investment gains (losses) included 0 0 0 0 2 21 (158) (135) Unrealized gains (losses) included in (25) (21) (5) (2) (11) 0 (1) (65) Purchases, issuances, sales Purchases 169 167 0 23 90 41 0 490 Issuances 0 0 0 0 0 17 0 17 Sales 0 (2) (23) 0 0 (8) 0 (33) Settlements 0 (21) 0 0 (17) 0 0 (38) Transfers into Level 3 0 0 23 0 84 0 0 107 Transfers out of Level 3 (77) (52) 0 0 (21) 0 257 107 Balance, end of period $ 291 $ 493 $ 43 $ 45 $ 426 $ 173 $ 0 $ 1,471 Changes in unrealized gains (losses) $ (24) $ (23) $ (4) $ (2) $ (27) $ 21 $ (158) $ (217) Level 3 Significant Unobservable Input Sensitivity The following tables summarize the significant unobservable inputs used in the valuation of the Company's Level 3 investments carried at fair value as of December 31. Included in the tables are the inputs or range of possible inputs that have an effect on the overall valuation of the financial instruments. 2022 (In millions) Fair Value Valuation Technique(s) Unobservable Input Range Assets: Securities available for sale, carried at fair value: Fixed maturity securities: Mortgage- and asset-backed securities $ 343 Consensus pricing Offered quotes 97.38 - 106.71 (a) Public utilities 497 Discounted cash flow Credit spreads 128 bps - 286 bps (b) Sovereign and supranational 37 Consensus pricing Offered quotes N/A (c) Banks/financial institutions 159 Discounted cash flow Credit spreads 67 bps - 188 bps (b) Other corporate 742 Discounted cash flow Credit spreads 66 bps - 647 bps (b) Equity securities 209 Adjusted cost Private financials N/A (d) Total assets $ 1,987 (a) Represents prices for securities where the Company receives unadjusted broker quotes and for which there is no transparency into the providers' valuation techniques. (b) Actual or equivalent credit spreads in basis points. (c) Category represents a single security; range not applicable. (d) Prices do not utilize credit spreads therefore range is not applicable. 2021 (In millions) Fair Value Valuation Technique(s) Unobservable Input Range Assets: Securities available for sale, carried at fair value: Fixed maturity securities: Mortgage- and asset-backed securities $ 291 Consensus pricing Offered quotes 104.79 - 111.36 (a) Public utilities 493 Discounted cash flow Credit spreads 118 bps - 260 bps (b) Sovereign and supranational 43 Consensus pricing Offered quotes N/A (c) Banks/financial institutions 45 Consensus pricing Offered quotes 100.00 - 103.00 (a) Other corporate 426 Discounted cash flow Credit spreads 121 bps - 560 bps (b) Equity securities 173 Adjusted cost Private financials N/A (d) Total assets $ 1,471 (a) Represents prices for securities where the Company receives unadjusted broker quotes and for which there is no transparency into the providers' valuation techniques. (b) Actual or equivalent credit spreads in basis points. (c) Category represents a single security; range not applicable. (d) Prices do not utilize credit spreads therefore range is not applicable. The following is a discussion of the significant unobservable inputs or valuation techniques used in determining the fair value of securities classified as Level 3. Credit Spreads The Company holds certain assets that are of a unique, specialized, and/or securitized nature that do not trade on a regular basis in an active market, which makes their fair values difficult to estimate. Most of these assets are managed by external asset managers and the Company utilizes these managers for their expertise when evaluating various inputs used to determine the fair values for these assets, including identifying the appropriate credit or risk spread over risk-free interest rates that incorporates the unique nature or structure of the asset in the valuations. For those assets of a similar nature but not managed by external asset managers, the Company internally estimates the spreads and risk adjustments over risk-free interest rates that reflect the unique nature or structure of the asset as well as the current pricing environment and market conditions for comparable or related investments. Credit or risk spreads are an important input needed to complete the discounted cash flow analyses used to estimate an investment’s fair value. Credit or risk spreads underlying these fair values are a significant, unobservable input whose derivation is based on the Company’s evaluation of a combination of the external manager’s expertise and knowledge, the current pricing environment, and market conditions for the specific asset. Offered Quotes In circumstances where the Company's valuation model price is overridden because it implies a value that is not consistent with current market conditions, the Company will solicit bids from a limited number of brokers. The Company also receives unadjusted prices from brokers for certain of its 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. Private Financials The Company invests in the debt and equity securities of private companies operating in the cancer, healthtech, insurtech, finance, internet of things, big data and analytics sectors. Due to their private and often small, startup nature, these companies rely on capital provided by institutional and private equity investors for their ongoing operations. They do not have public securities that trade on a regular basis in an active market, which makes their fair values difficult to estimate. The Company values these investments on a cost basis with appropriate adjustments made based on monitoring private financial information provided by these companies. Adjustments to valuations are generally made as new funding tranches are executed or if the financial information provided significantly changes indicating the need for impairment. This private financial information is unobservable and is a significant determinant in the fair value of these corporate venture investments. For additional information on the Company's investments and financial instruments, see the accompanying Notes 1, 3 and 4.

DEFERRED POLICY ACQUISITION COS

DEFERRED POLICY ACQUISITION COSTS AND INSURANCE EXPENSES	12 Months Ended
	Dec. 31, 2022
Deferred Policy Acquisition Costs Disclosures [Abstract]
DEFERRED POLICY ACQUISITION COSTS AND INSURANCE EXPENSES	DEFERRED POLICY ACQUISITION COSTS AND INSURANCE EXPENSES Consolidated policy acquisition costs deferred were $1.1 billion in 2022, compared with $1.1 billion in 2021 and $1.2 billion in 2020. The following table presents a rollforward of deferred policy acquisition costs by segment for the years ended December 31. 2022 2021 (In millions) Japan U.S. Japan U.S. Deferred policy acquisition costs: Balance, beginning of year $ 6,233 $ 3,292 $ 6,991 $ 3,450 Capitalization 498 556 593 470 Amortization (547) (605) (653) (517) Foreign currency translation and other (829) (5) (698) (111) Balance, end of year $ 5,355 $ 3,238 $ 6,233 $ 3,292 Commissions deferred as a percentage of total acquisition costs deferred were 68% in 2022, compared with 71% in 2021 and 77% in 2020. Personnel, compensation and benefit expenses as a percentage of insurance expenses were 60% in 2022, compared with 57% in 2021 and 59% in 2020. Advertising expense, which is included in insurance expenses in the consolidated statements of earnings, was as follows for the years ended December 31: (In millions) 2022 2021 2020 Advertising expense: Aflac Japan $ 77 $ 91 $ 72 Aflac U.S. 127 138 112 Total advertising expense $ 204 $ 229 $ 184 Depreciation and other amortization expenses, which are included in insurance expenses in the consolidated statements of earnings, were as follows for the years ended December 31: (In millions) 2022 2021 2020 Depreciation expense $ 40 $ 39 $ 36 Other amortization expense 5 6 5 Total depreciation and other amortization expense $ 45 $ 45 $ 41

POLICY LIABILITIES

POLICY LIABILITIES	12 Months Ended
	Dec. 31, 2022
Insurance Loss Reserves [Abstract]
POLICY LIABILITIES	POLICY LIABILITIES Policy liabilities consist of future policy benefits, unpaid policy claims, unearned premiums, and other policyholders' funds, which accounted for 86%, 5%, 2% and 7% of total policy liabilities at December 31, 2022, respectively. The Company regularly reviews the adequacy of its policy liabilities in total and by component. The liability for future policy benefits as of December 31 consisted of the following: Liability Amounts Interest Rate Assumptions (In millions) 2022 2021 Health insurance Japan $ 42,936 $ 49,421 0.6 - 6.75 % U.S. 8,972 8,949 3.0 - 8.0 Intercompany eliminations (1) (367) (456) 2.0 Life insurance Japan 28,218 31,756 0.6 - 4.0 U.S. 990 918 2.5 - 6.0 Total $ 80,749 $ 90,588 (1) Elimination entry necessary due to recapture of a portion of policy liabilities ceded externally, as a result of the reinsurance retrocession transaction as described in Note 8 of the Notes to the Consolidated Financial Statements The weighted-average interest rates reflected in the consolidated statements of earnings for future policy benefits for Japanese policies were 3.0% in 2022, compared with 3.1% in both 2021 and 2020; and for U.S. policies, 5.0% in 2022, compared with 5.1% in 2021 and 5.2% in 2020. Changes in the liability for unpaid policy claims were as follows for the years ended December 31: (In millions) 2022 2021 2020 Unpaid supplemental health claims, beginning of period $ 4,067 $ 4,389 $ 3,968 Less reinsurance recoverables 37 39 30 Net balance, beginning of period 4,030 4,350 3,938 Add claims incurred during the period related to: Current year 6,412 6,969 7,179 Prior years (633) (860) (540) Total incurred 5,779 6,109 6,639 Less claims paid during the period on claims incurred during: Current year 3,973 4,356 4,488 Prior years 1,736 1,827 1,966 Total paid 5,709 6,183 6,454 Effect of foreign exchange rate changes on unpaid claims (289) (246) 128 Zurich acquisition 0 0 99 Net balance, end of period 3,811 4,030 4,350 Add reinsurance recoverables 43 37 39 Unpaid supplemental health claims, end of period 3,854 4,067 4,389 Unpaid life claims, end of period 707 769 798 Total liability for unpaid policy claims $ 4,561 $ 4,836 $ 5,187 The incurred claims development related to prior years reflects favorable claims experience compared to previous estimates. The favorable claims development of $633 million for 2022 comprises approximately $373 million from Japan and $260 million from the U.S., representing approximately 59% and 41% of the total, respectively. Excluding the impact of foreign exchange of a loss of approximately $57 million from December 31, 2021 to December 31, 2022, the favorable claims development in Japan would have been approximately $430 million, representing approximately 68% of the total. The Company has experienced continued favorable claim trends in 2020, 2021 and 2022 for its core health products in Japan. During 2022, 2021, and 2020, there were impacts from lower utilization of healthcare services, due to the COVID-19 pandemic. This impacted both cancer and medical products, as the Japan population was avoiding doctor and hospital visits and staying home more. This resulted in lower sickness, accident, and cancer incurred claims. Although overall experience is favorable, during 2022, there was an increase in medical hospitalization claims related to COVID-19, mainly due to a wider scope of "deemed hospitalization" being utilized in Japan through most of the first nine months of the year. In addition, dating back to before the pandemic, cancer treatment patterns in Japan are continuing to be influenced by significant advances in early-detection techniques and by the increased use of pathological diagnosis rather than clinical exams. Additionally, follow-up radiation and chemotherapy treatments are occurring more often on an outpatient basis. Such changes in treatment not only increase the quality of life and initial outcomes for the patients but also decrease the average length of each hospital stay, resulting in favorable claims development. In 2022, as experienced in 2021 and 2020, the incurred claims development related to prior years reflects favorable claims experience compared to previous estimates. The favorable claims trend continued for the majority of the Company's major U.S. accident and health lines of business, including accident, hospital indemnity, cancer, critical illness and short-term disability. Additionally, refinements for COVID-19 incurred estimates also contributed to the favorable development. The U.S. portion of the favorable claims development in 2022 includes $91 million related to refinements in the estimates for COVID-19 and non-COVID-19 claims as experience emerges. As of December 31, 2022 and 2021, unearned premiums consisted primarily of discounted advance premiums on deposit. Discounted advance premiums are premiums on deposit from policyholders in conjunction with their purchase of certain Aflac Japan limited-pay insurance products. These advanced premiums are deferred upon collection and recognized as earned premiums over the contractual premium payment period. These advanced premiums represented 49% of the December 31, 2022 and 54% of the December 31, 2021 unearned premiums balances. As of December 31, 2022 and 2021, the largest component of the other policyholders' funds liability was the Company's annuity line of business in Aflac Japan. The Company's annuities have fixed benefits and premiums. These annuities represented 96% and 97% of other policyholders' funds liability at December 31, 2022 and 2021, respectively.

REINSURANCE

REINSURANCE	12 Months Ended
	Dec. 31, 2022
Reinsurance Disclosures [Abstract]
REINSURANCE	REINSURANCE The Company periodically enters into fixed quota-share coinsurance agreements in the normal course of business. For each of its reinsurance agreements, the Company determines 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. The Company has recorded a deferred profit liability related to reinsurance transactions. The remaining deferred profit liability of $692 million and $859 million as of December 31, 2022 and 2021, respectively, is included in future policy benefits in the consolidated balance sheet and is being amortized into income over the expected lives of the policies. The Company has also recorded a reinsurance recoverable for reinsurance transactions, which is included in other assets in the consolidated balance sheet and had a remaining balance of $846 million and $957 million as of December 31, 2022 and 2021, respectively. The spot yen/dollar exchange rate weakened by approximately 13.3% and ceded reserves decreased approximately 11.7% from December 31, 2021 to December 31, 2022. The following table reconciles direct premiums and direct benefits and claims to net amounts after the effect of reinsurance which also includes the elimination of inter-segment amounts associated with affiliated reinsurance for the years ended December 31. (In millions) 2022 2021 2020 Direct earned premiums $ 15,387 $ 17,857 $ 18,955 Ceded to other companies: Ceded Aflac Japan closed blocks (343) (431) (466) Other (76) (73) (87) Assumed from other companies: Retrocession activities 144 180 195 Other 151 114 25 Net earned premiums $ 15,263 $ 17,647 $ 18,622 Direct benefits and claims $ 9,255 $ 10,716 $ 12,080 Ceded benefits and change in reserves for future benefits: Ceded Aflac Japan closed blocks (340) (379) (419) Eliminations 23 31 39 Other (38) (36) (63) Assumed from other companies: Retrocession activities 145 165 180 Eliminations (23) (31) (39) Other 131 110 18 Benefits and claims, net $ 9,153 $ 10,576 $ 11,796 These reinsurance transactions are indemnity reinsurance that do not relieve the Company from its obligations to policyholders. In the event that the reinsurer is unable to meet their obligations, the Company remains liable for the reinsured claims. As a part of its capital contingency plan, the Company entered into a committed reinsurance facility agreement on December 1, 2015, with reserves of approximately ¥120 billion as of December 31, 2022. This reinsurance facility agreement was renewed in 2022 and is effective until December 31, 2023. There are also additional commitment periods of a one-year duration each of 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 December 31, 2022, the Company had not executed a reinsurance treaty under this committed reinsurance facility.

NOTES PAYABLE AND LEASE OBLIGAT

NOTES PAYABLE AND LEASE OBLIGATIONS	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
NOTES PAYABLE AND LEASE OBLIGATIONS	NOTES PAYABLE AND LEASE OBLIGATIONS A summary of notes payable and lease obligations as of December 31 follows: (In millions) 2022 2021 3.625% senior notes paid September 2022 0 748 3.25% senior notes paid October 2022 0 448 1.125% senior sustainability notes due March 2026 397 397 2.875% senior notes due October 2026 298 298 3.60% senior notes due April 2030 992 991 6.90% senior notes due December 2039 221 221 6.45% senior notes due August 2040 254 255 4.00% senior notes due October 2046 394 394 4.750% senior notes due January 2049 541 541 Yen-denominated senior notes and subordinated debentures: .300% senior notes due September 2025 (principal amount ¥12.4 billion) 93 107 .932% senior notes due January 2027 (principal amount ¥60.0 billion) 450 520 1.075% senior notes due September 2029 (principal amount ¥33.4 billion) 250 0 .500% senior notes due December 2029 (principal amount ¥12.6 billion) 95 109 .550% senior notes due March 2030 (principal amount ¥13.3 billion) 99 115 1.159% senior notes due October 2030 (principal amount ¥29.3 billion) 220 254 .633% senior notes due April 2031 (principal amount ¥30.0 billion) 225 259 .843% senior notes due December 2031 (principal amount ¥9.3 billion) 70 81 .750% senior notes due March 2032 (principal amount ¥20.7 billion) 155 179 1.320% senior notes due December 2032 (principal amount ¥21.1 billion) 158 0 .844% senior notes due April 2033 (principal amount ¥12.0 billion) 90 104 1.488% senior notes due October 2033 (principal amount ¥15.2 billion) 114 131 .934% senior notes due December 2034 (principal amount ¥9.8 billion) 73 85 .830% senior notes due March 2035 (principal amount ¥10.6 billion) 79 91 1.039% senior notes due April 2036 (principal amount ¥10.0 billion) 75 86 1.594% senior notes due September 2037 (principal amount ¥6.5 billion) 49 0 1.750% senior notes due October 2038 (principal amount ¥8.9 billion) 66 77 1.122% senior notes due December 2039 (principal amount ¥6.3 billion) 47 54 1.264% senior notes due April 2041 (principal amount ¥10.0 billion) 75 86 2.108% subordinated debentures due October 2047 (principal amount ¥60.0 billion) 448 517 .963% subordinated bonds due April 2049 (principal amount ¥30.0 billion) 226 260 1.560% senior notes due April 2051 (principal amount ¥20.0 billion) 149 172 2.144% senior notes due September 2052 (principal amount ¥12.0 billion) 90 0 Yen-denominated loans: Variable interest rate loan due August 2027 (.33% in 2022, principal amount ¥11.7 billion) 88 0 Variable interest rate loan due August 2029 (.43% in 2022 and .41% in 2021, principal amount ¥25.3 billion in 2022 and ¥5.0 billion in 2021) 190 43 Variable interest rate loan due August 2032 (.58% in 2022 and .56% in 2021, principal amount ¥70.0 billion in 2022 and ¥25.0 billion in 2021) 524 216 Finance lease obligations payable through 2028 8 12 Operating lease obligations payable through 2049 139 105 Total notes payable and lease obligations $ 7,442 $ 7,956 Amounts in the table above are reported net of debt issuance costs and issuance premiums or discounts, if applicable, that are being amortized over the life of the notes. In September 2022, the Parent Company issued four series of senior notes totaling ¥73.0 billion through a public debt offering under its U.S. shelf registration statement. The first series, which totaled ¥33.4 billion, bears interest at a fixed rate of 1.075% per annum, payable semi-annually, and will mature in September 2029. The second series, which totaled ¥21.1 billion, bears interest at a fixed rate of 1.320% per annum, payable semi-annually, and will mature in December 2032. The third series, which totaled ¥6.5 billion, bears interest at a fixed rate of 1.594% per annum, payable semi-annually, and will mature in September 2037. The fourth series, which totaled ¥12.0 billion, bears interest at a fixed rate of 2.144% per annum, payable semi-annually, and will mature in September 2052. These notes are redeemable at the Parent Company’s option at any time, in whole but not in part, upon the occurrence of certain changes affecting U.S. taxation, as specified in the indenture governing the terms of the issuance. In addition, the notes maturing in September 2029, December 2032 and September 2037 are redeemable at the Parent Company's option, in whole or in part from time to time, on or after June 14, 2029, June 14, 2032 and March 14, 2037, respectively, at a redemption price equal to the aggregate principal amount of the applicable series to be redeemed plus accrued and unpaid interest on the principal amount to be redeemed to, but excluding, the date of redemption. In August 2022, the Parent Company renewed a senior term loan facility with a commitment amount totaling ¥107.0 billion. The first tranche of the facility, which totaled ¥11.7 billion, bears interest at a rate per annum equal to the Tokyo interbank market rate (TIBOR), or alternate TIBOR, if applicable, plus the applicable TIBOR margin and will mature in August 2027. The applicable margin ranges between .225% and .625%, depending on the Parent Company's debt ratings as of the date of determination. The second tranche, which totaled ¥25.3 billion, bears interest at a rate per annum equal to TIBOR, or alternate TIBOR, if applicable, plus the applicable TIBOR margin and will mature in August 2029. The applicable margin ranges between .325% and .725%, depending on the Parent Company's debt ratings as of the date of determination. The third tranche, which totaled ¥70.0 billion, bears interest at a rate per annum equal to TIBOR, or alternate TIBOR, if applicable, plus the applicable TIBOR margin and will mature in August 2032. The applicable margin ranges between .475% and 1.025%, depending on the Parent Company's debt ratings as of the date of determination. In April 2021, the Parent Company issued five series of senior notes totaling ¥82.0 billion through a public debt offering under its then existing U.S. shelf registration statement. The first series, which totaled ¥30.0 billion, bears interest at a fixed rate of .633% per annum, payable semi-annually, and will mature in April 2031. The second series, which totaled ¥12.0 billion, bears interest at a fixed rate of .844% per annum, payable semi-annually, and will mature in April 2033. The third series, which totaled ¥10.0 billion, bears interest at a fixed rate of 1.039% per annum, payable semi-annually, and will mature in April 2036. The fourth series, which totaled ¥10.0 billion, bears interest at a fixed rate of 1.264% per annum, payable semi-annually, and will mature in April 2041. The fifth series, which totaled ¥20.0 billion, bears interest at a fixed rate of 1.560% per annum, payable semi-annually, and will mature in April 2051. The notes are redeemable at the Parent Company’s option (i) at any time, in whole but not in part, upon the occurrence of certain changes affecting U.S. taxation, as specified in the indenture governing the terms of the issuance or (ii) on or after the date that is six months prior to the stated maturity date of the series, in whole or in part, at a redemption price equal to the aggregate principal amount to be redeemed plus accrued and unpaid interest on the principal amount to be redeemed to, but excluding, the date of redemption. In March 2021, the Parent Company issued $400 million of senior sustainability notes through a U.S. public debt offering. The notes bear interest at a fixed rate of 1.125% per annum, payable semi-annually, and will mature in March 2026. The Company intends, but is not contractually committed, to allocate an amount at least equivalent to the net proceeds from this issuance exclusively to existing or future investments in, or financing of, assets, businesses or projects that meet the eligibility criteria of the Company's sustainability bond framework described in the offering documentation in connection with such notes. These notes are redeemable at the Parent Company's option in whole at any time or in part from time to time at a redemption price equal to the greater of: (i) the aggregate principal amount of the notes to be redeemed or (ii) the amount equal to the sum of the present values of the remaining scheduled payments for principal of and interest on the notes to be redeemed, not including any portion of the payments of interest accrued as of such redemption date, discounted to such redemption date on a semiannual basis at the yield to maturity for a U.S. Treasury security with a maturity comparable to the remaining term of the notes, plus 10 basis points, plus in each case, accrued and unpaid interest on the principal amount of the notes to be redeemed to, but excluding, such redemption date. In April 2020, the Parent Company issued $1.0 billion of senior notes through a U.S. public debt offering. The notes bear interest at a fixed rate of 3.60% per annum, payable semi-annually, and will mature in April 2030. These notes are redeemable at the Parent Company's option in whole at any time or in part from time to time at a redemption price equal to the greater of: (i) the aggregate principal amount of the notes to be redeemed or (ii) the amount equal to the sum of the present values of the remaining scheduled payments for principal of and interest on the notes to be redeemed, not including any portion of the payments of interest accrued as of such redemption date, discounted to such redemption date on a semiannual basis at the yield to maturity for a U.S. Treasury security with a maturity comparable to the remaining term of the notes, plus 45 basis points, plus in each case, accrued and unpaid interest on the principal amount of the notes to be redeemed to, but excluding, such redemption date. In March 2020, the Parent Company issued four series of senior notes totaling ¥57.0 billion through a public debt offering under its then existing U.S. shelf registration statement. The first series, which totaled ¥12.4 billion, bears interest at a fixed rate of .300% per annum, payable semi-annually and will mature in September 2025. The second series, which totaled ¥13.3 billion, bears interest at a fixed rate of .550% per annum, payable semi-annually, and will mature in March 2030. The third series, which totaled ¥20.7 billion, bears interest at a fixed rate of .750% per annum, payable semi-annually and will mature in March 2032. The fourth series, which totaled ¥10.6 billion, bears interest at a fixed rate of .830% per annum, payable semi-annually, and will mature in March 2035. These notes may only be redeemed before maturity, in whole but not in part, upon the occurrence of certain changes affecting U.S. taxation, as specified in the indenture governing the terms of the issuance. In December 2019, the Parent Company issued four series of senior notes totaling ¥38.0 billion through a public debt offering under its then existing U.S. shelf registration statement. The first series, which totaled ¥12.6 billion, bears interest at a fixed rate of .500% per annum, payable semi-annually, and will mature in December 2029. The second series, which totaled ¥9.3 billion, bears interest at a fixed rate of .843% per annum, payable semi-annually, and will mature in December 2031. The third series, which totaled ¥9.8 billion, bears interest at a fixed rate of .934% per annum, payable semi-annually, and will mature in December 2034. The fourth series, which totaled ¥6.3 billion, bears interest at a fixed rate of 1.122% per annum, payable semi-annually, and will mature in December 2039. The notes are redeemable at the Parent Company’s option (i) at any time, in whole but not in part, upon the occurrence of certain changes affecting U.S. taxation, as specified in the indenture governing the terms of the issuance or (ii) on or after the date that is six months prior to the stated maturity date of the series, in whole or in part, at a redemption price equal to the aggregate principal amount to be redeemed plus accrued and unpaid interest on the principal amount to be redeemed to, but excluding, the date of redemption. In April 2019, ALIJ issued ¥30.0 billion (par value) of perpetual subordinated bonds. These bonds bear interest at a fixed rate of .963% per annum and then at six-month Euro Yen LIBOR plus an applicable spread on and after the day immediately following April 18, 2024. The bonds will be callable on each interest payment date on and after April 18, 2024. In November 2019, ALIJ amended the bonds to change their duration from perpetual to a stated maturity date of April 16, 2049 and to remove provisions that permitted ALIJ to defer payments of interest under certain circumstances. In October 2018, the Parent Company issued $550 million of senior notes through a U.S. public debt offering. The notes bear interest at a fixed rate of 4.750% per annum, payable semi-annually, and will mature in January 2049. These notes are redeemable at the Parent Company's option in whole at any time or in part from time to time at a redemption price equal to the greater of: (i) the aggregate principal amount of the notes to be redeemed or (ii) the amount equal to the sum of the present values of the remaining scheduled payments for principal of and interest on the notes to be redeemed, not including any portion of the payments of interest accrued as of such redemption date, discounted to such redemption date on a semiannual basis at the yield to maturity for a U.S. Treasury security with a maturity comparable to the remaining term of the notes, plus 25 basis points, plus in each case, accrued and unpaid interest on the principal amount of the notes to be redeemed to, but excluding, such redemption date. In October 2018, the Parent Company issued three series of senior notes totaling ¥53.4 billion through a public debt offering under its then existing U.S. shelf registration statement. The first series, which totaled ¥29.3 billion, bears interest at a fixed rate of 1.159% per annum, payable semi-annually, and will mature in October 2030. The second series, which totaled ¥15.2 billion, bears interest at a fixed rate of 1.488% per annum, payable semi-annually, and will mature in October 2033. The third series, which totaled ¥8.9 billion, bears interest at a fixed rate of 1.750% per annum, payable semi-annually, and will mature in October 2038. These notes may only be redeemed before maturity, in whole but not in part, upon the occurrence of certain changes affecting U.S. taxation, as specified in the indenture governing the terms of the issuance. In October 2017, the Parent Company issued ¥60.0 billion of subordinated debentures through a U.S. public debt offering. The debentures bear interest at an initial rate of 2.108% per annum through October 22, 2027, or earlier redemption. Thereafter, the rate of the interest of the debentures will be reset every five years at a rate of interest equal to the then-current JPY 5-year Swap Offered Rate plus 205 basis points. The debentures are payable semi-annually in arrears and will mature in October 2047. The debentures are redeemable (i) at any time, in whole but not in part, upon the occurrence of certain tax events or certain rating agency events, as specified in the indenture governing the terms of the debentures or (ii) on or after October 23, 2027, in whole or in part, at a redemption price equal to their principal amount plus accrued and unpaid interest to, but excluding, the date of redemption. In January 2017, the Parent Company issued ¥60.0 billion of senior notes through a U.S. public debt offering. The notes bear interest at a fixed rate of .932% per annum, payable semi-annually, and will mature in January 2027. These notes may only be redeemed before maturity, in whole but not in part, upon the occurrence of certain changes affecting U.S. taxation, as specified in the indenture governing the terms of the issuance. In September 2016, the Parent Company issued two series of senior notes totaling $700 million through a U.S. public debt offering. The first series, which totaled $300 million, bears interest at a fixed rate of 2.875% per annum, payable semi-annually and will mature in October 2026. The second series, which totaled $400 million, bears interest at a fixed rate of 4.00% per annum, payable semi-annually, and will mature in October 2046. In March 2015, the Parent Company issued $450 million of senior notes through a U.S. public debt offering. The notes bear interest at a fixed rate of 3.25% per annum, payable semi-annually, and will mature in March 2025. The Parent Company entered into cross-currency swaps that convert the U.S. dollar-denominated principal and interest on the senior notes into yen-denominated obligations which results in lower nominal net interest rates on the debt. By entering into these cross-currency swaps, the Parent Company economically converted its $450 million liability into a ¥55.0 billion yen liability and reduced the interest rate on this debt from 3.25% in dollars to .82% in yen. In October 2022, the Parent Company used a portion of the net proceeds from its September 2022 issuance of various series of senior notes to redeem $450 million of its 3.25% senior notes due March 2025. In November 2014, the Parent Company issued $750 million of senior notes through a U.S. public debt offering. The notes bear interest at a fixed rate of 3.625% per annum, payable semi-annually, and will mature in November 2024. These notes are redeemable at the Parent Company's option in whole at any time or in part from time to time at a redemption price equal to the greater of: (i) the aggregate principal amount of the notes to be redeemed or (ii) the amount equal to the sum of the present values of the remaining scheduled payments for principal of and interest on the notes to be redeemed, not including any portion of the payments of interest accrued as of such redemption date, discounted to such redemption date on a semiannual basis at the treasury rate plus 20 basis points, plus in each case, accrued and unpaid interest on the principal amount of the notes to be redeemed to, but excluding, such redemption date. The Parent Company entered into cross-currency interest rate swaps to reduce interest expense by converting the U.S. dollar-denominated principal and interest on the senior notes it issued into yen-denominated obligations. By entering into the swaps, the Parent Company economically converted its $750 million liability into an ¥85.3 billion liability and reduced the interest rate on this debt from 3.625% in dollars to 1.00% in yen. In September 2022, the Parent Company used a portion of the net proceeds from its September 2022 issuance of various series of senior notes and the August 2022 senior term loan facility to redeem $750 million of its 3.625% senior notes due November 2024. In 2010 and 2009, the Parent Company issued senior notes through U.S. public debt offerings; the details of these notes are as follows. In August 2010, the Parent Company issued $450 million of senior notes that will mature in August 2040. In December 2009, the Parent Company issued $400 million of senior notes that will mature in December 2039. These senior notes pay interest semiannually and are redeemable at the Parent Company's option in whole at any time or in part from time to time at a redemption price equal to the greater of: (i) the principal amount of the notes or (ii) the present value of the remaining scheduled payments of principal and interest to be redeemed, discounted to the redemption date, plus accrued and unpaid interest. In December 2016, the Parent Company completed a tender offer in which it extinguished $176 million principal of its 6.90% senior notes due December 2039 and $193 million principal of its 6.45% senior notes due August 2040. The pretax loss due to the early redemption of these notes was $137 million. For the Company's yen-denominated notes and loans, the principal amount as stated in dollar terms will fluctuate from period to period due to changes in the yen/dollar exchange rate. The Company has designated the majority of its yen-denominated notes payable as a non-derivative hedge of the foreign currency exposure of the Company's investment in Aflac Japan. The aggregate contractual maturities of notes payable during each of the years after December 31, 2022, are as follows: (In millions) Total 2023 $ 0 2024 0 2025 93 2026 700 2027 540 Thereafter 6,021 Total $ 7,354 Operating lease costs, included in insurance expenses in the consolidated statements of earnings, were $52 million, $58 million and $56 million for the years ended December 31, 2022, 2021 and 2020, respectively. Operating cash outflows for operating leases were $49 million, $56 million and $54 million for the years ended December 31, 2022, 2021 and 2020, respectively. A summary of the Company's lines of credit as of December 31, 2022 follows: Borrower(s) Type Term Expiration Date Capacity Amount Outstanding Interest Rate on Borrowed Amount Maturity Period Commitment Fee Business Purpose Aflac Incorporated uncommitted bilateral 364 days December 28, 2023 $100 million $0 million The rate quoted by the bank and agreed upon at the time of borrowing Up to 3 months None General corporate purposes Aflac Incorporated unsecured revolving 5 years May 9, ¥100.0 billion ¥0.0 billion A rate per annum equal to (a) TIBOR plus, the alternative applicable TIBOR margin during the availability period from the closing date to the commitment termination date or (b) the TIBOR rate offered by the agent to major banks in yen for the applicable period plus, the applicable alternative TIBOR margin during the term out period No later than .28% to .45%, depending on the Parent Company's debt ratings as of the date of determination General corporate purposes, including a capital contingency plan for the operations of the Parent Company Aflac Incorporated unsecured revolving 5 years November 15, 2027, or the date commitments are terminated pursuant to an event of default $1.0 billion $0.0 billion A rate per annum equal to, at the Company's option, either, (a) Secured Overnight Financing Rate (SOFR) for U.S. dollar denominated borrowings or TIBOR for Japanese yen denominated borrowings, in either case adjusted for certain costs, or (b) a base rate determined by reference to the highest of (1) the federal funds rate plus 1/2 of 1%, (2) the rate of interest for such day announced by the agent as its prime rate, or (3) SOFR for an interest period of one month plus 1.00%, in each case plus an applicable margin No later than November 15, 2027 .08% to .20%, depending on the Parent Company's debt ratings as of the date of determination General corporate purposes, including a capital contingency plan for the operations of the Parent Company Aflac Incorporated uncommitted bilateral None specified None specified $50 million $0 million A rate per annum equal to, at the Parent Company's option, either (a) a rate determined by reference to USD LIBOR for the interest period relevant to such borrowing or (b) the base rate determined by reference to the highest of (a) the lender's USD short-term commercial loan rate, (b) the federal funds rate plus 1/2 of 1% and (c) USD one-month LIBOR plus 1%. USD LIBOR is subject to replacement with SOFR under certain circumstances Up to 3 months None General corporate purposes Aflac (1) uncommitted revolving 364 days November 30, 2023 $250 million $0 million USD three-month LIBOR plus 75 basis points per annum No later than December 1, 2023 None General corporate purposes Aflac Incorporated (1) (Tranche 1) uncommitted revolving 364 days November 27, 2023 ¥50.0 billion ¥0.0 billion Three-month TIBOR plus 45 basis points per annum No later than November 28, 2023 None General corporate purposes Aflac Incorporated (1) (Tranche 2) uncommitted revolving 364 days November 27, 2023 ¥50.0 billion ¥0.0 billion Three-month TIBOR plus 45 basis points per annum No later than November 28, 2023 None General corporate purposes Aflac New York (1) uncommitted revolving 364 days April 10, $25 million $0 million USD three-month LIBOR plus 75 basis points per annum No later than None General corporate purposes CAIC (1) uncommitted revolving 364 days March 21, $15 million $0 million USD three-month LIBOR plus 75 basis points per annum No later than March 22, 2023 None General corporate purposes (1) Intercompany credit agreement (continued) Borrower(s) Type Term Expiration Date Capacity Amount Outstanding Interest Rate on Borrowed Amount Maturity Period Commitment Fee Business Purpose Tier One Insurance Company (1) uncommitted revolving 364 days March 21, $0.3 million $0 million USD three-month LIBOR plus 75 basis points per annum No later than None General corporate purposes Aflac Ventures Japan K.K. (1) uncommitted revolving 364 days May 2, ¥500 million ¥350 million A rate per annum equal to the short-term prime lending rates of banks appearing on the website for the Bank of Japan on the first day of the applicable period No later than None General corporate purposes Hatch Healthcare K.K. (1) uncommitted revolving 364 days January 3, 2023 (2) ¥900 million ¥0 million A rate per annum equal to the short-term prime lending rates of banks appearing on the website for the Bank of Japan on the first day of the applicable period No later than January 4, 2023 None General corporate purposes Hatch Insight K.K. (1) uncommitted revolving 364 days January 3, 2023 (2) ¥600 million ¥0 million A rate per annum equal to the short-term prime lending rates of banks appearing on the website for the Bank of Japan on the first day of the applicable period No later than January 4, 2023 None General corporate purposes Aflac GI Holdings LLC (1) uncommitted revolving 364 days July 17, $30 million $0 million USD three-month LIBOR plus 75 basis points per annum No later than None General corporate purposes (1) Intercompany credit agreement (2) Renewed in January 2023 with an expiration date of January 3, 2024 The Company was in compliance with all of the covenants of its notes payable and lines of credit at December 31, 2022. No events of default or defaults occurred during 2022 and 2021.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The components of income tax expense (benefit) applicable to pretax earnings for the years ended December 31 were as follows: (In millions) Foreign U.S. Total 2022: Current $ 913 $ 268 $ 1,181 Deferred 200 (978) (778) Total income tax expense $ 1,113 $ (710) $ 403 2021: Current $ 884 $ 211 $ 1,095 Deferred 251 (349) (98) Total income tax expense $ 1,135 $ (138) $ 997 2020: Current $ 822 $ (28) $ 794 Deferred (28) (1,385) (1,413) Total income tax expense $ 794 $ (1,413) $ (619) The Japan income tax rate for the fiscal years 2022, 2021 and 2020 was 28.0%. Aflac Japan holds certain U.S. dollar-denominated assets in a Delaware Statutory Trust (DST). These assets are mostly comprised of various U.S. dollar-denominated commercial mortgage loans. The functional currency of the DST for U.S. tax purposes was historically the Japanese yen. In 2022, the Company requested a change in tax accounting method through the Internal Revenue Service's automatic consent procedures to change its functional currency on the DST for U.S. tax purposes to the U.S. dollar. As a result, foreign currency translation gains or losses on assets held in the DST will no longer be recognized for U.S. tax purposes. The Company historically recorded a deferred tax liability for foreign currency translation gains on the DST assets, which was released in the third quarter of 2022 as a result of the functional currency change and subsequently adjusted for foreign currency impacts in the fourth quarter of 2022. This change in functional currency resulted in the Company recognizing an income tax benefit of $452 million ($0.71 per basic and diluted share, respectively) in 2022. In August 2022, the Inflation Reduction Act of 2022 (IRA) was signed into U.S. law. Effective January 1, 2023, the law imposes a 15% corporate alternative minimum tax rate and a 1% excise tax on the Company’s repurchases of its common stock. The Company does not anticipate any impacts from the new corporate minimum tax rate since its current tax rate is above the 15% minimum rate. Further, the Company expects the charges associated with the excise tax to be recognized in equity consistent with other costs related to treasury stock. In September 2020, the U.S. Treasury and Internal Revenue Service issued Final and Proposed Regulations which address, among other items, the allocation of insurance expenses in the calculation of the foreign tax credit limitation. These regulations clarify how insurance related expenses are allocated and apportioned for this purpose. The Company had previously established valuation allowances on deferred foreign tax credits due to the uncertainty that previously existed. Under the guidance of these regulations, the Company recognized a one-time income tax benefit of $1.4 billion due to the release of these valuation allowances which were predominantly established on the Company’s deferred foreign tax credit benefits. The Company has determined that this will also reduce its effective tax rate in future periods, subject to any future changes in U.S. tax policy. In March 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law and includes certain income tax provisions relevant to businesses. The Company was required to recognize the effect on the consolidated financial statements in the period the law was enacted, which was the period ended March 31, 2020. For the year ended December 31, 2020, the CARES Act did not have a material impact on the Company’s consolidated financial statements. Income tax expense in the accompanying statements of earnings varies from the amount computed by applying the expected U.S. tax rate of 21% in 2022, 2021 and 2020 to pretax earnings. The principal reasons for the differences and the related tax effects for the years ended December 31 were as follows: (In millions) 2022 2021 2020 Income taxes based on U.S. statutory rates $ 967 $ 1,118 $ 873 Valuation allowance release 0 0 (1,411) DST functional currency change (452) 0 0 Other, net (112) (121) (81) Income tax expense $ 403 $ 997 $ (619) Total income tax expense for the years ended December 31 was allocated as follows: (In millions) 2022 2021 2020 Statements of earnings $ 403 $ 997 $ (619) Other comprehensive income (loss): Unrealized foreign currency translation gains (losses) during 547 15 (3) Unrealized gains (losses) on fixed maturity securities: Unrealized holding gains (losses) on fixed maturity (2,752) (194) 223 Reclassification adjustment for (gains) losses 0 (7) 33 Unrealized gains (losses) on derivatives during period 1 1 0 Pension liability adjustment during period 35 30 (2) Total income tax expense (benefit) related to items of (2,169) (155) 251 Total income taxes $ (1,766) $ 842 $ (368) The income tax effects of the temporary differences that gave rise to deferred income tax assets and liabilities as of December 31 were as follows: (In millions) 2022 2021 Deferred income tax liabilities: Deferred policy acquisition costs $ 2,803 $ 3,262 Unrealized gains and other basis differences on investments 0 5,313 Foreign currency gain on Aflac Japan 147 0 Premiums receivable 59 66 Policy benefit reserves 3,173 3,578 Total deferred income tax liabilities 6,182 12,219 Deferred income tax assets: Unfunded retirement benefits 7 7 Other accrued expenses 27 38 Policy and contract claims 722 794 Foreign currency loss on Aflac Japan 0 91 Deferred compensation 65 104 Depreciation 248 230 Anticipatory foreign tax credit 3,069 5,883 Deferred foreign tax credit 822 701 Other basis differences in investments 101 0 Other 147 163 Total deferred income tax assets 5,208 8,011 Net deferred income tax liability 974 4,208 Current income tax (asset) liability 322 131 Total income tax liability $ 1,296 $ 4,339 The application of U.S. GAAP requires the Company to evaluate the recoverability of deferred tax assets and establish a valuation allowance if necessary to reduce the deferred tax asset to an amount that is more likely than not expected to be realized. The Company has determined no valuation allowance against its anticipatory foreign tax credits is necessary. The anticipatory foreign tax credit represents the foreign tax credit the Company will generate from the reversal of Japan deferred tax liabilities in the future. The release of the valuation allowance on the anticipatory foreign tax credit is due to the regulations addressing the allocation of insurance expenses in the calculation of the foreign tax credit released September 29, 2020. The Company has also determined no valuation allowance against its deferred foreign tax credits is necessary. Deferred foreign tax credits are foreign tax credits generated in the current tax year by the Japanese life company, but are unable to be utilized until 2022 due to Japan's current tax year not closing until March 31, 2022. The release of the valuation allowance on the deferred foreign tax credit is also due to the foreign tax credit regulations released September 29, 2020. Based upon a review of the Company's anticipated future taxable income, and including all other available evidence, both positive and negative, the Company's management has concluded that, notwithstanding the items noted above, it is more likely than not that all other deferred tax assets will be realized. Under U.S. income tax rules, only 35% of non-life operating losses can be offset against life insurance taxable income each year. For current U.S. income tax purposes, as of December 31, 2022, there were non-life operating loss carryforwards of $18 million available to offset against future taxable income, all of which do not expire. The Company has no capital loss carryforwards available to offset capital gains. The Company has foreign tax credit carryforwards of $65 million available to offset against future excess foreign taxes paid, $20 million of which expire in 2030, $20 million of which expire in 2031 and $25 million of which expire in 2032. The Company files federal income tax returns in the U.S. and Japan as well as state or prefecture income tax returns in various jurisdictions in the two countries. The Company's amended 2017-2019 federal income tax returns are currently under audit by the Internal Revenue Service. There are currently no other open Federal, State, or local U.S. income tax audits. U.S. federal income tax returns for years before 2016 are no longer subject to examination. In Japan, the corporate income tax returns for fiscal years ending March 31, 2020, 2021 and 2022 are currently under audit. Japan corporate income tax returns for years before 2016 are no longer subject to examination. Management believes it has established adequate tax liabilities and final resolution of all open audits is not expected to have a material impact on the Company's consolidated financial statements. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows for the years ended December 31: (In millions) 2022 2021 Balance, beginning of year $ 5 $ 19 Additions for tax positions of prior years 0 1 Reductions for tax positions of prior years 0 (15) Balance, end of year $ 5 $ 5 Included in the balance of the liability for unrecognized tax benefits at December 31, 2022 and 2021, are no tax positions for which the ultimate deductibility is highly certain, but for which there is uncertainty about the timing of such deductibility. Because of the impact of deferred tax accounting, other than interest and penalties, the disallowance of the shorter deductibility period would not affect the annual effective tax rate, but would accelerate the payment of cash to the taxing authority to an earlier period. The Company has accrued approximately $5 million as of December 31, 2022, for permanent uncertainties, which if reversed would not have a material effect on the annual effective rate. The Company recognizes accrued interest and penalties related to unrecognized tax benefits in income tax expense. The Company recognized an immaterial amount of interest and penalties in 2022, compared with approximately $1 million in both 2021 and 2020. The Company accrued an immaterial amount for the payment of interest and penalties as of December 31, 2022 and 2021, respectively. As of December 31, 2022, there were no material uncertain tax positions for which the total amounts of unrecognized tax benefits will significantly increase or decrease within the next 12 months.

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2022
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 years ended December 31. (In thousands of shares) 2022 2021 2020 Common stock - issued: Balance, beginning of period 1,352,739 1,351,018 1,349,309 Exercise of stock options and issuance of restricted shares 1,340 1,721 1,709 Balance, end of period 1,354,079 1,352,739 1,351,018 Treasury stock: Balance, beginning of period 700,607 658,564 622,516 Purchases of treasury stock: Share repurchase program 39,187 43,327 37,899 Other 370 437 542 Dispositions of treasury stock: Shares issued to AFL Stock Plan (1,009) (1,216) (2,021) Exercise of stock options (117) (275) (121) Other (215) (230) (251) Balance, end of period 738,823 700,607 658,564 Shares outstanding, end of period 615,256 652,132 692,454 Outstanding share-based awards are excluded from the calculation of weighted-average shares used in the computation of basic 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 EPS at December 31: (In thousands) 2022 2021 2020 Anti-dilutive share-based awards 118 0 687 The weighted-average shares used in calculating EPS for the years ended December 31 were as follows: (In thousands of shares) 2022 2021 2020 Weighted-average outstanding shares used for calculating basic EPS 634,816 673,617 713,702 Dilutive effect of share-based awards 2,839 3,112 2,490 Weighted-average outstanding shares used for calculating diluted EPS 637,655 676,729 716,192 Share Repurchase Program: During 2022, the Company repurchased 39.2 million shares of its common stock in the open market for $2.4 billion. The Company repurchased 43.3 million shares for $2.3 billion in 2021 and 37.9 million shares for $1.5 billion in 2020. In November 2022, the Company's board of directors authorized the purchase of an additional 100 million shares of its common stock. As of December 31, 2022, a remaining balance of 116.6 million shares of the Company's common stock was available for purchase under share repurchase authorizations by its board of directors. In August 2022, the IRA was signed into U.S. law. Effective January 1, 2023, the law imposes a 1% excise tax on the Company's repurchase of its common stock. Voting Rights: In accordance with the Parent Company's articles of incorporation, shares of common stock are generally entitled to one vote per share until they have been held by the same beneficial owner for a continuous period of 48 months, at which time they become entitled to 10 votes per share. Reclassifications from Accumulated Other Comprehensive Income The tables below are reconciliations of accumulated other comprehensive income by component for the years ended December 31. Changes in Accumulated Other Comprehensive Income 2022 (In millions) Unrealized Foreign Unrealized Unrealized Pension Total Balance at December 31, 2021 $ (2,013) $ 9,602 $ (30) $ (166) $ 7,393 Other comprehensive (1,627) (9,946) (1) 111 (11,463) Amounts reclassified from 0 (358) 4 19 (335) Net current-period other (1,627) (10,304) 3 130 (11,798) Balance at December 31, 2022 $ (3,640) $ (702) $ (27) $ (36) $ (4,405) All amounts in the table above are net of tax. 2021 (In millions) Unrealized Foreign Unrealized Unrealized Pension Liability Adjustment Total Balance at December 31, 2020 $ (1,109) $ 10,361 $ (34) $ (284) $ 8,934 Other comprehensive (904) (735) (1) 90 (1,550) Amounts reclassified from 0 (24) 5 28 9 Net current-period other (904) (759) 4 118 (1,541) Balance at December 31, 2021 $ (2,013) $ 9,602 $ (30) $ (166) $ 7,393 All amounts in the table above are net of tax. 2020 (In millions) Unrealized Foreign Unrealized Unrealized Pension Liability Adjustment Total Balance at December 31, 2019 $ (1,623) $ 8,548 $ (33) $ (277) $ 6,615 Cumulative effect of change 0 848 0 0 848 Balance at January 1, 2020 $ (1,623) $ 9,396 $ (33) $ (277) $ 7,463 Other comprehensive 514 839 (1) (30) 1,322 Amounts reclassified from 0 126 0 23 149 Net current-period other 514 965 (1) (7) 1,471 Balance at December 31, 2020 $ (1,109) $ 10,361 $ (34) $ (284) $ 8,934 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 into net earnings for the years ended December 31. Reclassifications Out of Accumulated Other Comprehensive Income (In millions) 2022 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 $ 453 Net investment gains (losses) (95) Tax (expense) or benefit (1) $ 358 Net of tax Unrealized gains (losses) on derivatives $ (4) Net investment gains (losses) (1) Net investment income (5) Total before tax 1 Tax (expense) or benefit (1) $ (4) Net of tax Amortization of defined benefit pension items: Actuarial gains (losses) $ (24) Acquisition and operating expenses (2) Prior service (cost) credit 0 Acquisition and operating expenses (2) 5 Tax (expense) or benefit (1) $ (19) Net of tax Total reclassifications for the period $ 335 Net of tax (1) Based on 21% tax rate (2) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 14 for additional details). (In millions) 2021 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 $ 31 Net investment gains (losses) (7) Tax (expense) or benefit (1) $ 24 Net of tax Unrealized gains (losses) on derivatives $ (5) Net investment gains (losses) (1) Net investment income (6) Total before tax 1 Tax (expense) or benefit (1) $ (5) Net of tax Amortization of defined benefit pension items: Actuarial gains (losses) $ (35) Acquisition and operating expenses (2) Prior service (cost) credit 0 Acquisition and operating expenses (2) 7 Tax (expense) or benefit (1) $ (28) Net of tax Total reclassifications for the period $ (9) Net of tax (1) Based on 21% tax rate (2) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 14 for additional details). (In millions) 2020 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 $ (159) Net investment gains (losses) 33 Tax (expense) or benefit (1) $ (126) Net of tax Amortization of defined benefit pension items: Actuarial gains (losses) $ (32) Acquisition and operating expenses (2) Prior service (cost) credit 3 Acquisition and operating expenses (2) 6 Tax (expense) or benefit (1) $ (23) Net of tax Total reclassifications for the period $ (149) Net of tax (1) Based on 21% tax rate (2) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 14 for additional details).

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	SHARE-BASED COMPENSATION As of December 31, 2022, the Company has outstanding share-based awards under the Aflac Incorporated Long-Term Incentive Plan (As Amended and Restated February 14, 2017), as further amended on August 9, 2022 (the Plan). Share-based awards are designed to reward employees for their long-term contributions to the Company and provide incentives for them to remain with the Company. The number and frequency of share-based awards are based on competitive practices, operating results of the Company, government regulations, and other factors. The Plan allows for a maximum number of shares issuable over its term of 75 million shares including 38 million shares that may be awarded in respect of awards other than options or stock appreciation rights. If any awards granted under the Plan are forfeited or are terminated before being exercised or settled for any reason other than tax forfeiture, then the shares underlying the awards will again be available under the Plan. The Plan allows awards to Company employees for incentive stock options (ISOs), non-qualifying stock options (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. As of December 31, 2022, approximately 35.8 million shares were available for future grants under this plan. 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 December 31, 2022, the only performance-based awards issued and outstanding were restricted stock awards and units. Stock options and stock appreciation rights granted under the amended Plan have an exercise price of at least the fair market value of the underlying stock on the grant date and have an expiration date no later than 10 years from the grant date. Time-based restricted stock awards, restricted stock units and stock options granted after January 1, 2017 generally vest on a ratable basis over three years, and awards granted prior to the amendment vest on a cliff basis over three years. The Compensation Committee of the Board of Directors has the discretion to determine vesting schedules . 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. Summary of Share-Based Compensation Expense Share-based compensation expense consists primarily of expenses for stock options, restricted stock awards (including performance based restricted stock awards), and restricted stock units granted to employees. The following table presents the impact of the expense recognized in connection with share-based awards for the periods ended December 31. (In millions, except for per-share amounts) 2022 2021 2020 Impact on earnings from continuing operations $ 69 $ 65 $ 61 Impact on earnings before income taxes 69 65 61 Impact on net earnings 55 51 48 Impact on net earnings per share: Basic $ .09 $ .08 $ .07 Diluted .09 .08 .07 Stock Options The following table summarizes stock option activity under the employee stock option plan. (In thousands of shares) Stock Weighted-Average Outstanding at December 31, 2019 3,706 $ 29.65 Granted in 2020 59 35.75 Canceled in 2020 (82) 26.31 Exercised in 2020 (638) 27.82 Outstanding at December 31, 2020 3,045 30.25 Granted in 2021 0 0.00 Canceled in 2021 (4) 16.93 Exercised in 2021 (896) 28.45 Outstanding at December 31, 2021 2,145 31.02 Granted in 2022 0 0.00 Canceled in 2022 (8) 32.43 Exercised in 2022 (560) 28.11 Outstanding at December 31, 2022 1,577 $ 32.05 (In thousands of shares) 2022 2021 2020 Shares exercisable, end of year 1,577 2,145 2,986 The Company estimates the fair value of each stock option granted using the Black-Scholes-Merton multiple option approach. Expected volatility is based on historical periods generally commensurate with the estimated terms of the options. The Company uses historical data to estimate option exercise and termination patterns within the model. Separate groups of employees that have similar historical exercise patterns are stratified and considered separately for valuation purposes. The expected term of options granted is derived from the output of the Company's option model and represents the weighted-average period of time that options granted are expected to be outstanding. The Company bases the risk-free interest rate on the Treasury note rate with a term comparable to that of the estimated term of the options. There were no options granted in 2022 or 2021. The weighted-average fair value of options at their grant date was $6.33 in 2020. The following table presents the assumptions used in valuing options granted, if applicable, during the years ended December 31. 2022 2021 2020 Expected term (years) 7.8 7.9 6.0 Expected volatility 25.8 % 25.6 % 24.4 % Annual forfeiture rate 4.0 3.8 3.9 Risk-free interest rate 1.6 1.0 2.0 Dividend yield 2.7 3.0 3.3 The following table summarizes information about stock options outstanding and exercisable at December 31, 2022. (In thousands of shares) Options Outstanding Options Exercisable Range of Stock Option Wgtd.-Avg. Wgtd.-Avg. Stock Option Wgtd.-Avg. $ 0.00 - $ 24.75 88 0.1 $ 24.75 88 $ 24.75 24.75 - 28.97 298 3.0 28.94 298 28.94 28.97 - 31.21 564 1.8 30.70 564 30.70 31.21 - 36.21 478 3.7 34.25 478 34.25 36.21 - 44.59 149 4.8 40.57 149 40.57 $ 0.00 - $ 44.59 1,577 2.8 $ 32.05 1,577 $ 32.05 The aggregate intrinsic value in the following table represents the total pretax intrinsic value, and is based on the difference between the exercise price of the stock options and the quoted closing common stock price of $71.94 as of December 31, 2022, for those awards that have an exercise price currently below the closing price. As of December 31, 2022, the aggregate intrinsic value of stock options outstanding was $63 million, with a weighted-average remaining term of 2.8 years. The total number of in-the-money stock options exercisable as of December 31, 2022, was 1.6 million shares. The aggregate intrinsic value of stock options exercisable at that same date was $63 million, with a weighted-average remaining term of 2.8 years. The following table summarizes stock option activity during the years ended December 31. (In millions) 2022 2021 2020 Total intrinsic value of options exercised $ 20 $ 21 $ 11 Cash received from options exercised 16 26 18 Tax benefit realized as a result of options exercised and 18 17 18 Performance-Based Restricted Stock Awards and Units Under the Plan, the Company grants selected executive officers performance-based restricted stock awards (PBRS) each February whose vesting is contingent upon meeting various performance goals. PBRS are generally granted at-the-money and contingently cliff vest over a period of three years, generally subject to continued employment. In February 2022, the Company granted 390 thousand performance-based stock awards, which are contingent on the achievement of the Company's financial performance metrics and its market-based conditions. On the date of grant, the Company estimated the fair value of restricted stock awards with market-based conditions using a Monte Carlo simulation model. The model discounts the value of the stock at the assumed vesting date based on a risk-free interest rate. Based on estimates of actual performance versus the vesting thresholds, the calculated fair value percentage pay-out estimate will be updated each quarter. Actual performance, including modification for relative total shareholder return, may result in the ultimate award of 0% to 200% percent of the initial number of PBRS issued, with the potential for no award if company performance goals are not achieved during the three-year period. PBRS subject to accelerated vesting at the date of retirement eligibility is recognized over the implicit service period. The Company also granted selected executive officers performance-based restricted stock units (PSUs) throughout the year whose vesting is contingent upon meeting various performance goals. PSUs are generally granted at-the-money and contingently cliff vest over a period of three years, generally subject to continued employment. In 2022, the Company granted 123 thousand performance-based stock units, which are contingent on the achievement of certain Company determined metrics. Based on estimates of actual performance versus the vesting thresholds, the calculated fair value percentage pay-out estimate will be updated each quarter. Actual performance may result in the ultimate award of 0% to 200% percent of the initial number of PSUs issued, with the potential for no award if the Company determined metrics are not achieved during the three The Company uses third-party analyses to assist in developing the assumptions used in, as well as calibrating, a Monte Carlo simulation model. The Company is responsible for determining the assumptions used in estimating the fair value of its share-based payment awards. Key assumptions used to value PBRS granted during 2022 follows: (In millions) 2022 Expected volatility (based on Aflac Inc. and peer group historical daily stock price) 37.1 % Expected life from grant date (years) 2.9 Risk-free interest rate (based on U.S. Treasury yields at the date of grant) 1.8 % Restricted Stock Awards and Units The value of restricted stock awards and restricted stock units is based on the fair market value of the Company's common stock at the date of grant. The following table summarizes restricted stock activity during the years ended December 31. (In thousands of shares) Shares Weighted-Average Restricted stock at December 31, 2019 (1) 2,715 $ 43.74 Granted in 2020 1,544 45.88 Canceled in 2020 (119) 49.27 Vested in 2020 (1,560) 35.23 Restricted stock at December 31, 2020 2,580 48.57 Granted in 2021 1,496 47.87 Canceled in 2021 (148) 49.00 Vested in 2021 (1,371) 45.80 Restricted stock at December 31, 2021 2,557 49.38 Granted in 2022 1,119 66.72 Canceled in 2022 (96) 54.59 Vested in 2022 (1,166) 49.64 Restricted stock at December 31, 2022 2,414 $ 56.21 (1) This balance has been adjusted to include dividends As of December 31, 2022, total compensation cost not yet recognized in the Company's financial statements related to restricted stock awards and restricted stock units was $33 million, of which $14 million (1.2 million shares) was related to restricted stock awards with a performance-based vesting condition. The Company expects to recognize these amounts over a weighted-average period of approximately 1.7 years. There are no other contractual terms covering restricted stock awards once vested.

STATUTORY ACCOUNTING AND DIVIDE

STATUTORY ACCOUNTING AND DIVIDEND RESTRICTIONS	12 Months Ended
	Dec. 31, 2022
Insurance [Abstract]
STATUTORY ACCOUNTING AND DIVIDEND RESTRICTIONS	STATUTORY ACCOUNTING AND DIVIDEND RESTRICTIONS The Company's insurance subsidiaries are required to report their results of operations and financial position to insurance regulatory authorities on the basis of statutory accounting practices prescribed or permitted by such authorities. Aflac Japan must report its results of operations and financial position to the Japanese Financial Services Agency (FSA) on a Japanese regulatory accounting basis as prescribed by the FSA. Japanese regulatory accounting practices differ in many respects from U.S. GAAP. Under Japanese regulatory accounting practices, policy acquisition costs are expensed immediately; policy benefit and claim reserving methods and assumptions are different; premiums are recognized on a cash basis; different consolidation criteria apply to VIEs; reinsurance is recognized on a different basis; and investments can have a separate accounting classification and treatment referred to as policy reserve matching bonds (PRM). Capital and surplus of Aflac Japan, based on Japanese regulatory accounting practices, was $6.7 billion at December 31, 2022, compared with $9.8 billion at December 31, 2021. Aflac, CAIC and TOIC report statutory financial statements that are prepared on the basis of accounting practices prescribed or permitted by the Nebraska Department of Insurance (NDOI). The NDOI recognizes statutory accounting principles and practices prescribed or permitted by the state of Nebraska for determining and reporting the financial condition and results of operations of an insurance company, and for determining a company's solvency under Nebraska insurance law. Aflac New York reports statutory financial statements that are prepared on the basis of accounting practices prescribed or permitted by the New York State Department of Financial Services (NYSDFS). The NYSDFS recognizes statutory accounting principles and practices prescribed or permitted by the state of New York for determining and reporting the financial condition and results of operations of an insurance company, and for determining a company's solvency under New York insurance law. Statutory Accounting Principles (SAP) as detailed by the National Association of Insurance Commissioners' (NAIC) Accounting Practices and Procedures Manual have been adopted by both the state of Nebraska and the state of New York as a component of those prescribed or permitted practices. Statutory accounting practices primarily differ from U.S. GAAP by charging policy acquisition costs to expense as incurred, establishing future policy benefit liabilities using different actuarial assumptions as well as valuing investments and certain assets and accounting for deferred taxes on a different basis. Additionally, the Director of the NDOI and the Superintendent of the NYSDFS each have the right to permit other specific practices which deviate from prescribed practices. Aflac, CAIC, TOIC and Aflac New York had no permitted practices as of December 31, 2022, and 2021. The table below represents statutory capital and surplus based on statutory accounting practices for the Company’s U.S. life insurance subsidiaries as of December 31. (In millions) 2022 2021 Aflac $ 3,097 $ 2,627 CAIC 360 244 TOIC 60 57 Aflac New York 339 360 As of December 31, 2022, the capital and surplus for each of the Company's U.S. life insurance subsidiaries exceeded the required company action level capital and surplus. The table below represents net income (loss) based on statutory accounting practices for the Company’s U.S. life insurance subsidiaries as of December 31. (In millions) 2022 2021 2020 Aflac $ 1,134 $ 1,146 $ 872 CAIC (69) (30) 1 TOIC (35) (27) (24) Aflac New York 67 83 75 The Parent Company depends on its subsidiaries for cash flow, primarily in the form of dividends and management fees. Consolidated retained earnings in the accompanying financial statements largely represent the undistributed earnings of the Company's insurance subsidiaries. Amounts available for dividends, management fees and other payments to the Parent Company by its insurance subsidiaries may fluctuate due to different accounting methods required by regulatory authorities. These payments are also subject to various regulatory restrictions and approvals related to safeguarding the interests of insurance policyholders. The Company's U.S. life insurance entities must maintain adequate risk-based capital (RBC) for U.S. regulatory authorities, and Aflac Japan must maintain adequate solvency margins for Japanese regulatory authorities. The maximum amount of dividends that can be paid to the Parent Company by Aflac, CAIC and TOIC without prior approval of Nebraska's director of insurance is the greater of the net income from operations, which excludes net investment gains, for the previous year determined under statutory accounting principles, or 10% of statutory capital and surplus as of the previous year-end. In 2022, Aflac declared dividends of $594 million. Dividends declared by Aflac during 2023 in excess of $1.1 billion would require such approval. CAIC and TOIC did not declare dividends during 2022. From time to time, Aflac New York pays dividends to Aflac, the parent company of Aflac New York. Aflac New York may not pay dividends to Aflac without the prior approval of the NYSDFS. Aflac New York declared dividends of $83 million in 2022, which were authorized by the NYSDFS. Aflac Japan is required to meet certain financial criteria as governed by Japanese corporate law in order to provide dividends to the Parent Company. Under these criteria, dividend capacity at Aflac Japan is basically defined as retained earnings excluding capital reserves, which represent equity generated by capital profits that are statutorily required in Japan, less net after-tax unrealized losses on available-for-sale securities based on the previous fiscal year-end. Profits remitted by Aflac Japan to the Parent Company were as follows for the years ended December 31: In Dollars In Yen (In millions of dollars and billions of yen) 2022 2021 2020 2022 2021 2020 Profit remittances $ 2,412 $ 2,138 $ 1,215 ¥ 324.2 ¥ 236.7 ¥ 129.8

BENEFIT PLANS

BENEFIT PLANS	12 Months Ended
	Dec. 31, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
BENEFIT PLANS	BENEFIT PLANS Pension and Other Postretirement Plans The Company has funded defined benefit plans in Japan and the U.S., however the U.S. plan was frozen to new participants effective October 1, 2013. The Company also maintains 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, however the U.S. plan was frozen to new participants effective January 1, 2015. U.S. employees who are not participants in the defined benefit plan receive a nonelective 401(k) employer contribution. The Company provides 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. Information with respect to the Company's benefit plans' assets and obligations as of December 31 was as follows: Pension Benefits Other Japan U.S. Postretirement Benefits (In millions) 2022 2021 2022 2021 2022 2021 Projected benefit obligation: Benefit obligation, beginning of year $ 432 $ 473 $ 1,186 $ 1,204 $ 36 $ 42 Service cost 19 23 26 28 0 0 Interest cost 5 6 34 32 1 1 Actuarial (gain) loss (61) (9) (374) (50) 0 (2) Benefits and expenses paid (13) (15) (29) (28) (5) (5) Effect of foreign exchange (55) (46) 0 0 0 0 Benefit obligation, end of year 327 432 843 1,186 32 36 Plan assets: Fair value of plan assets, 415 416 885 824 0 0 Actual return on plan assets (46) 14 (205) 81 0 0 Employer contributions 34 44 8 8 5 5 Benefits and expenses paid (13) (15) (29) (28) (5) (5) Effect of foreign exchange (55) (44) 0 0 0 0 Fair value of plan assets, 335 415 659 885 0 0 Funded status of the plans (1) $ 8 $ (17) $ (184) $ (301) $ (32) $ (36) Amounts recognized in accumulated other Net actuarial (gain) loss $ 35 $ 50 $ 10 $ 158 $ 8 $ 10 Prior service (credit) cost 0 0 (2) (2) 0 0 Total included in accumulated $ 35 $ 50 $ 8 $ 156 $ 8 $ 10 Accumulated benefit obligation $ 215 $ 346 $ 741 $ 1,010 N/A N/A (1) Underfunded amounts are recognized in other liabilities in the consolidated balance sheets and overfunded amounts are recognized in other assets in the consolidated balance sheets Information for Pension Plans with an Accumulated Benefit Obligation in Excess of Plan Assets Pension Benefits Japan U.S. (In millions) 2022 2021 2022 2021 Accumulated benefit obligation $ 215 $ 346 $ 741 $ 1,010 Fair value of plan assets 335 415 659 885 Information for Pension Plans with a Projected Benefit Obligation in Excess of Plan Assets Pension Benefits Japan (1) U.S. (2) (In millions) 2022 2021 2022 2021 Projected benefit obligation $ 327 $ 432 $ 843 $ 1,186 Fair value of plan assets 335 415 659 885 (1) The net amount of projected benefit obligation and plan assets for the overfunded Japan pension plan was $8 at December 31, 2022 and was classified as other assets on the statement of financial position. The net amount of projected benefit obligation and plan assets for the underfunded (including unfunded) Japan pension plan was $17 at December 31, 2021 and was classified as liabilities on the statement of financial position. (2) The net amount of projected benefit obligation and plan assets for the underfunded (including unfunded) U.S. pension plan was $184 and $301 at December 31, 2022 and 2021, respectively, and was classified as liabilities on the statement of financial position. Information for other postretirement benefit plans with an accumulated postretirement benefit obligation in excess of plan assets has been disclosed in the note on “Obligations and Funded Status” because all the other postretirement benefit plans are unfunded or underfunded. Pension Benefits Other Japan U.S. Postretirement Benefits 2022 2021 2020 2022 2021 2020 2022 2021 2020 Weighted-average Discount rate - net periodic .94 % .75 % .75 % 2.94 % 2.68 % 3.25 % 2.94 % 2.68 % 3.25 % Discount rate - benefit 1.95 .94 .75 5.28 2.94 2.68 5.28 2.94 2.68 Expected long-term return 2.00 2.00 2.00 5.50 5.75 6.00 N/A N/A N/A Rate of compensation N/A N/A N/A 4.00 4.00 4.00 N/A N/A N/A Health care cost trend rates N/A N/A N/A N/A N/A N/A 6.50 (1) 5.80 (1) 6.30 (1) (1) For the years 2022, 2021 and 2020, the health care cost trend rates are expected to trend down to 3.7% in 51 years, 3.7% in 52 years, and 3.7% in 53 years, respectively. The Company determines its discount rate assumption for its pension retirement obligations based on indices for AA corporate bonds with an average duration of approximately 20 years for the Japan pension plans and 17 years for the U.S. pension plans, and determination of the U.S. pension plans discount rate utilizes the 85-year extrapolated yield curve. In Japan, participant salary and future salary increases are not factors in determining pension benefit cost or the related pension benefit obligation. The Company bases its assumption for the long-term rate of return on assets on historical trends (10-year or longer historical rates of return for the Japanese plan assets and 15-year historical rates of return for the U.S. plan assets), expected future market movement, as well as the portfolio mix of securities in the asset portfolio including, but not limited to, style, class and equity and fixed income allocations. In addition, the Company's consulting actuaries evaluate its assumptions for long-term rates of return under Actuarial Standards of Practice (ASOP). Under the ASOP, the actual portfolio type, mix and class is modeled to determine a best estimate of the long-term rate of return. The Company in turn use those results to further validate its own assumptions. Components of Net Periodic Benefit Cost Pension and other postretirement benefit expenses are included in acquisition and operating expenses in the consolidated statements of earnings, which includes $ 14 million 25 million 30 million Pension Benefits Other Japan U.S. Postretirement Benefits (In millions) 2022 2021 2020 2022 2021 2020 2022 2021 2020 Service cost $ 19 $ 23 $ 24 $ 26 $ 28 $ 29 $ 0 $ 0 $ 0 Interest cost 5 6 5 34 32 34 1 1 1 Expected return on plan assets (8) (8) (7) (42) (41) (35) 0 0 0 Amortization of net actuarial loss 1 2 4 21 30 26 2 3 2 Amortization of prior service cost 0 0 (1) 0 0 (2) 0 0 0 Net periodic (benefit) cost $ 17 $ 23 $ 25 $ 39 $ 49 $ 52 $ 3 $ 4 $ 3 Changes in Accumulated Other Comprehensive Income The following table summarizes the amounts recognized in other comprehensive loss (income) for the years ended December 31: Pension Benefits Other Japan U.S. Postretirement Benefits (In millions) 2022 2021 2020 2022 2021 2020 2022 2021 2020 Net actuarial loss (gain) $ (14) $ (22) $ (14) $ (127) $ (90) $ 45 $ 0 $ (2) $ 5 Amortization of net actuarial loss (1) (2) (4) (21) (30) (26) (2) (3) (2) Amortization of prior 0 1 1 0 0 2 0 0 0 Total $ (15) $ (23) $ (17) $ (148) $ (120) $ 21 $ (2) $ (5) $ 3 No transition obligations arose during 2022. Benefit Payments The following table provides expected benefit payments, which reflect expected future service, as appropriate. Pension Benefits Other (In millions) Japan U.S. Postretirement Benefits 2023 $ 10 $ 33 $ 5 2024 17 34 5 2025 15 35 5 2026 14 37 4 2027 14 46 4 2028-2032 79 246 7 Funding The Company plans to make contributions of $32 million to the Japanese funded defined benefit plan in 2023. The Company does not plan to make any contributions to the U.S. funded defined benefit plan in 2023. The Company did not make a contribution to the U.S. funded defined benefit plan in 2022. The funding policy for the Company's non-qualified supplemental defined benefit pension plans and other postretirement benefits plan is to contribute the amount of the benefit payments made during the year. Plan Assets The investment objective of the Company's Japanese and U.S. funded defined benefit plans is to preserve the purchasing power of the plan's assets and earn a reasonable inflation-adjusted rate of return over the long term. Furthermore, the Company seeks to accomplish these objectives in a manner that allows for the adequate funding of plan benefits and expenses. In order to achieve these objectives, the Company's goal is to maintain a conservative, well-diversified and balanced portfolio of high-quality equity, fixed-income and money market securities. As a part of its strategy, the Company has established strict policies covering quality, type and concentration of investment securities. For the Company's Japanese plan, these policies include limitations on investments in derivatives including futures, options and swaps, and low-liquidity investments such as real estate, venture capital investments, and privately issued securities. For the Company's U.S. plan, these policies prohibit investments in precious metals, limited partnerships, venture capital, and direct investments in real estate. The Company is also prohibited from trading on margin. The plan fiduciaries for the Company's funded defined benefit plans have developed guidelines for asset allocations reflecting a percentage of total assets by asset class, which are reviewed on an annual basis. In 2022, the Company updated the asset allocation for the Aflac U.S. pension plan to better align assets and liabilities and preserve the current funded status of near full funding. Asset allocation targets as of December 31, 2022 were as follows: Japan U.S. Domestic equities 6 % 0 % International equities 17 0 Fixed income securities 69 100 Other 8 0 Total 100 % 100 % The following table presents the fair value of Aflac Japan's pension plan assets that are measured at fair value on a recurring basis as of December 31. All of these assets are classified as Level 2 in the fair value hierarchy. (In millions) 2022 2021 Japan pension plan assets: Equities: Japanese equity securities $ 20 $ 21 International equity securities 57 86 Fixed income securities: Japanese bonds 20 22 International bonds 210 252 Insurance contracts 28 34 Total $ 335 $ 415 The following table presents the fair value of Aflac U.S.'s pension plan assets that are measured at fair value on a recurring basis as of December 31. All of these assets are classified as Level 1 in the fair value hierarchy. (In millions) 2022 2021 U.S. pension plan assets: Mutual funds: Large cap equity funds $ 0 $ 297 Mid cap equity funds 0 25 International equity funds 0 208 Fixed income bond funds 641 346 Aflac Incorporated common stock 0 7 Cash and cash equivalents 18 2 Total $ 659 $ 885 The fair values of the Company's pension plan investments categorized as Level 1, consisting of mutual funds and common stock, are based on quoted market prices for identical securities traded in active markets that are readily and regularly available to the Company. The fair values of the Company's pension plan investments classified as Level 2 are based on quoted prices for similar assets in markets that are not active, other inputs that are observable, such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, and default rates, or other market-corroborated inputs. 401(k) Plan The Company sponsors a 401(k) plan in which it matches a portion of U.S. employees' contributions. The plan provides for salary reduction contributions by employees and, in 2022, 2021, and 2020, provided matching contributions by the Company of 100% of each employee's contributions which were not in excess of 4% of the employee's annual cash compensation. The Company also provides a nonelective contribution to the 401(k) plan of 4% of annual cash compensation for employees who opted out of the future benefits of the U.S. defined benefit plan and for new U.S. employees. The 401(k) contributions by the Company, included in acquisition and operating expenses in the consolidated statements of earnings, were $18 million in 2022 and $20 million in both 2021 and 2020. The plan trustee held approximately 2.2 million shares of the Company's common stock for plan participants at December 31, 2022. Stock Bonus Plan Aflac U.S. maintains a stock bonus plan for eligible U.S. sales associates. Plan participants receive shares of Aflac Incorporated common stock based on their new annualized premium sales and their first-year persistency of substantially all new insurance policies. The cost of this plan, which was capitalized as deferred policy acquisition costs, amounted to $16 million in 2022 and $15 million in 2021 and $24 million in 2020. Voluntary Separation Program In September 2020, the Company announced a voluntary separation program for certain U.S. employees. The program provides eligible employees with a severance package, including twelve months of salary, the employee's targeted bonus payout for 2020 and one year of Consolidated Omnibus Budget Reconciliation Act (COBRA) or retiree medical, if eligible. Employees accepted into this program were notified in October 2020 and most transitions were completed by December 31, 2020, with a small number continuing into the first quarter of 2021. The Company recorded a one-time severance charge of $43 million in the fourth quarter of 2020 related to the program.

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	COMMITMENTS AND CONTINGENT LIABILITIES The Company has two outsourcing agreements with a technology and consulting corporation. The first agreement provides mainframe computer operations, distributed mid-range server computer operations, and related support for Aflac Japan. It has a remaining term of two years and an aggregate remaining cost of ¥19.4 billion ($146 million using the December 31, 2022, exchange rate). The second agreement provides application maintenance and development services for Aflac Japan. It has a remaining term of two years and an aggregate remaining cost of ¥2.2 billion ($17 million using the December 31, 2022, exchange rate). The Company has an outsourcing agreement with a management consulting and technology services company to provide application maintenance and development services for Aflac Japan. The agreement has a remaining term of four years with an aggregate remaining cost of ¥12.5 billion ($94 million using the December 31, 2022, exchange rate). The Company has two outsourcing agreements with information technology and data services companies to provide application maintenance and development services for Aflac Japan. The first agreement has a remaining term of three years with an aggregate remaining cost of ¥6.0 billion ($45 million using the December 31, 2022, exchange rate). The second agreement has a remaining term of three years with an aggregate remaining cost of ¥7.6 billion ($57 million using the December 31, 2022, exchange rate). The Company has an enterprise agreement with an information technology and data services company to license software for Aflac Japan. The agreement has a remaining term of one year with an aggregate remaining cost of ¥0.9 billion ($7 million using the December 31, 2022, exchange rate). The Company has an outsourcing agreement with an information technology and software company to provide application maintenance and development services for Aflac Japan. The agreement has a remaining term of three years with an aggregate remaining cost of ¥2.7 billion ($20 million using the December 31, 2022, exchange rate). The Company is a defendant in various lawsuits considered to be in the normal course of business. Members of the Company's 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, the Company believes the outcome of pending litigation will not have a material adverse effect on its financial position, results of operations, or cash flows. See Note 3 of the Notes to the Consolidated Financial Statements for details on certain investment commitments. Guaranty Fund Assessments The U.S. insurance industry has a policyholder protection system that is monitored and regulated by state insurance departments. These life and health insurance guaranty associations are state entities (in all 50 states as well as Puerto Rico and the District of Columbia) created to protect policyholders of an insolvent insurance company. All insurance companies (with limited exceptions) licensed to sell life or health insurance in a state must be members of that state’s guaranty association. Under state guaranty association laws, certain insurance companies can be assessed (up to prescribed limits) for certain obligations to the policyholders and claimants of impaired or insolvent insurance companies that write the same line or similar lines of business. In 2009, the Pennsylvania Insurance Commissioner placed long-term care insurer Penn Treaty Network America Insurance Company and its subsidiary American Network Insurance Company (collectively referred to as Penn Treaty), neither of which is affiliated with Aflac, in rehabilitation and petitioned a state court for approval to liquidate Penn Treaty. A final order of liquidation was granted by a recognized judicial authority on March 1, 2017, and as a result, Penn Treaty is in the process of liquidation. The Company estimated and recognized the impact of its share of guaranty fund assessments resulting from the liquidation using a discounted rate of 4.25%. The Company recognized a discounted liability for the assessments of $62 million (undiscounted $94 million), offset by discounted premium tax credits of $48 million (undiscounted $74 million), for a net $14 million impact to net income in the quarter ended March 31, 2017. The Company paid a majority of these assessments by December 31, 2022. The Company used the cost estimate provided as of the liquidation date by the National Organization of Life and Health Guaranty Associations (NOLHGA) to calculate its estimated assessments and tax credits. Guaranty fund assessments for the years ended December 31, 2022, 2021, and 2020 were immaterial.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTSEffective January 1, 2023, ALIJ entered into a coinsurance transaction whereby it ceded 28% of the liabilities associated with certain cancer insurance policies and riders to Aflac Re Bermuda, which is reported as part of corporate and other activities. This transaction transferred approximately $2.1 billion of reserves associated with these policies and will also involve the transfer of assets to support these reserves to Aflac Re Bermuda.

SCHEDULE II CONDENSED FINANCIAL

SCHEDULE II CONDENSED FINANCIAL INFORMATION OF REGISTRANT	12 Months Ended
	Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract]
SCHEDULE II CONDENSED FINANCIAL INFORMATION OF REGISTRANT	CONDENSED FINANCIAL INFORMATION OF REGISTRANT Aflac Incorporated (Parent Only) Condensed Statements of Earnings Years ended December 31, (In millions) 2022 2021 2020 Revenues: Management and service fees from subsidiaries (1) $ 136 $ 130 $ 131 Net investment income 3 (93) 62 Interest from subsidiaries (1) 2 2 3 Net investment gains (losses) (228) 206 399 Total revenues (87) 245 595 Operating expenses: Interest expense 215 222 221 Other operating expenses (2) 275 300 277 Total operating expenses 490 522 498 Earnings before income taxes and equity in earnings of (577) (277) 97 Income tax expense (benefit) (208) (144) (15) Earnings before equity in earnings of subsidiaries (369) (133) 112 Equity in earnings of subsidiaries (1) 4,570 4,458 4,666 Net earnings $ 4,201 $ 4,325 $ 4,778 (1) Eliminated in consolidation (2) Includes expense of $48 in 2021 and $15 in 2020 for the early extinguishment of debt See the accompanying Notes to Condensed Financial Statements. See the accompanying Report of Independent Registered Public Accounting Firm. CONDENSED FINANCIAL INFORMATION OF REGISTRANT Aflac Incorporated (Parent Only) Condensed Statements of Comprehensive Income (Loss) Years ended December 31, (In millions) 2022 2021 2020 Net earnings $ 4,201 $ 4,325 $ 4,778 Other comprehensive income (loss) before income taxes: Unrealized foreign currency translation gains (losses) during period (1,080) (889) 510 Unrealized gains (losses) on fixed maturity securities during period (13,056) (960) 1,220 Unrealized gains (losses) on derivatives during period 4 5 (1) Pension liability adjustment during period 165 148 (7) Total other comprehensive income (loss) before income taxes (13,967) (1,696) 1,722 Income tax expense (benefit) related to items of other comprehensive (2,169) (155) 251 Other comprehensive income (loss), net of income taxes (11,798) (1,541) 1,471 Total comprehensive income (loss) $ (7,597) $ 2,784 $ 6,249 See the accompanying Notes to Condensed Financial Statements. See the accompanying Report of Independent Registered Public Accounting Firm. CONDENSED FINANCIAL INFORMATION OF REGISTRANT Aflac Incorporated (Parent Only) Condensed Balance Sheets December 31, (In millions, except for share and per-share amounts) 2022 2021 Assets: Investments and cash: Fixed maturity securities available for sale, at fair value (amortized cost $1,649 in 2022 and $1,608 in 2021) $ 1,744 $ 1,828 Investments in subsidiaries (1) 25,197 35,905 Other investments 1,461 1,413 Cash and cash equivalents 1,143 2,097 Total investments and cash 29,545 41,243 Due from subsidiaries (1) 267 248 Other assets 964 640 Total assets $ 30,776 $ 42,131 Liabilities and shareholders' equity: Liabilities: Employee benefit plans $ 291 $ 336 Notes payable 7,069 7,579 Other liabilities 1,051 963 Total liabilities 8,411 8,878 Shareholders' equity: Common stock of $.10 par value. In thousands: authorized 1,900,000 shares in 2022 and 2021; issued 1,354,079 shares in 2022 and 1,352,739 shares in 2021 135 135 Additional paid-in capital 2,641 2,529 Retained earnings 44,568 41,381 Accumulated other comprehensive income (loss): Unrealized foreign currency translation gains (losses) (3,640) (2,013) Unrealized gains (losses) on fixed maturity securities (702) 9,602 Unrealized gains (losses) on derivatives (27) (30) Pension liability adjustment (36) (166) Treasury stock, at average cost (20,574) (18,185) Total shareholders' equity 22,365 33,253 Total liabilities and shareholders' equity $ 30,776 $ 42,131 (1) Eliminated in consolidation See the accompanying Notes to Condensed Financial Statements. See the accompanying Report of Independent Registered Public Accounting Firm. CONDENSED FINANCIAL INFORMATION OF REGISTRANT Aflac Incorporated (Parent Only) Condensed Statements of Cash Flows Years ended December 31, (In millions) 2022 2021 2020 Cash flows from operating activities: Net earnings $ 4,201 $ 4,325 $ 4,778 Adjustments to reconcile net earnings to net cash provided from Equity in earnings of subsidiaries (1) (4,570) (4,458) (4,666) Cash dividends received from subsidiaries 2,705 2,791 2,060 Other, net 18 408 (331) Net cash provided (used) by operating activities 2,354 3,066 1,841 Cash flows from investing activities: Fixed maturity securities sold 392 483 438 Fixed maturity securities purchased (438) (489) (484) Other investments sold (purchased) (206) (421) (711) Settlement of derivatives 718 135 4 Additional capitalization of subsidiaries (1) (294) (161) (291) Other, net 1 1 2 Net cash provided (used) by investing activities 173 (452) (1,042) Cash flows from financing activities: Purchases of treasury stock (2,401) (2,301) (1,537) Proceeds from borrowings 1,277 1,153 1,545 Principal payments under debt obligations (1,416) (700) (350) Dividends paid to shareholders (979) (855) (769) Treasury stock reissued 17 26 34 Proceeds from exercise of stock options 12 17 12 Net change in amount due to/from subsidiaries (1) 16 43 (89) Other, net (7) (26) (27) Net cash provided (used) by financing activities (3,481) (2,643) (1,181) Net change in cash and cash equivalents (954) (29) (382) Cash and cash equivalents, beginning of period 2,097 2,126 2,508 Cash and cash equivalents, end of period $ 1,143 $ 2,097 $ 2,126 (1) Eliminated in consolidation See the accompanying Notes to Condensed Financial Statements. See the accompanying Report of Independent Registered Public Accounting Firm. CONDENSED FINANCIAL INFORMATION OF REGISTRANT Aflac Incorporated (Parent Only) Notes to Condensed Financial Statements The accompanying condensed financial statements should be read in conjunction with the consolidated financial statements and notes thereto of Aflac Incorporated and Subsidiaries included in Part II, Item 8 of this report. (A) Notes Payable A summary of notes payable as of December 31 follows: (In millions) 2022 2021 3.625% senior notes paid September 2022 $ 0 $ 748 3.25% senior notes paid October 2022 0 448 1.125% senior sustainability notes due March 2026 397 397 2.875% senior notes due October 2026 298 298 3.60% senior notes due April 2030 992 991 6.90% senior notes due December 2039 221 221 6.45% senior notes due August 2040 254 255 4.00% senior notes due October 2046 394 394 4.750% senior notes due January 2049 541 541 Yen-denominated senior notes and subordinated debentures: .300% senior notes due September 2025 (principal amount ¥12.4 billion) 93 107 .932% senior notes due January 2027 (principal amount ¥60.0 billion) 450 520 1.075% senior notes due September 2029 (principal amount ¥33.4 billion) 250 0 .500% senior notes due December 2029 (principal amount ¥12.6 billion) 95 109 .550% senior notes due March 2030 (principal amount ¥13.3 billion) 99 115 1.159% senior notes due October 2030 (principal amount ¥29.3 billion) 220 254 .633% senior notes due April 2031 (principal amount ¥30.0 billion) 225 259 .843% senior notes due December 2031 (principal amount ¥9.3 billion) 70 81 .750% senior notes due March 2032 (principal amount ¥20.7 billion) 155 179 1.320% senior notes due December 2032 (principal amount ¥21.1 billion) 158 0 .844% senior notes due April 2033 (principal amount ¥12.0 billion) 90 104 1.488% senior notes due October 2033 (principal amount ¥15.2 billion) 114 131 .934% senior notes due December 2034 (principal amount ¥9.8 billion) 73 85 .830% senior notes due March 2035 (principal amount ¥10.6 billion) 79 91 1.039% senior notes due April 2036 (principal amount ¥10.0 billion) 75 86 1.594% senior notes due September 2037 (principal amount ¥6.5 billion) 49 0 1.750% senior notes due October 2038 (principal amount ¥8.9 billion) 66 77 1.122% senior notes due December 2039 (principal amount ¥6.3 billion) 47 54 1.264% senior notes due April 2041 (principal amount ¥10.0 billion) 75 86 2.108% subordinated debentures due October 2047 (principal amount ¥60.0 billion) 448 517 1.560% senior notes due April 2051 (principal amount ¥20.0 billion) 149 172 2.144% senior notes due September 2052 (principal amount ¥12.0 billion) 90 0 Yen-denominated loans: Variable interest rate loan due August 2027 (.33% in 2022, principal amount ¥11.7 billion) 88 0 Variable interest rate loan due August 2029 (.43% in 2022 and .41% in 2021, principal amount ¥25.3 billion in 2022 and ¥5.0 billion in 2021) 190 43 Variable interest rate loan due August 2032 (.58% in 2022 and .56% in 2021, principal amount ¥70.0 billion in 2022 and ¥25.0 billion in 2021) 524 216 Total notes payable $ 7,069 $ 7,579 Amounts in the table above are reported net of debt issuance costs and issuance premiums or discounts, if applicable, that are being amortized over the life of the notes. In September 2022, the Parent Company issued four series of senior notes totaling ¥73.0 billion through a public debt offering under its U.S. shelf registration statement. The first series, which totaled ¥33.4 billion, bears interest at a fixed rate of 1.075% per annum, payable semi-annually, and will mature in September 2029. The second series, which totaled ¥21.1 billion, bears interest at a fixed rate of 1.320% per annum, payable semi-annually, and will mature in December 2032. The third series, which totaled ¥6.5 billion, bears interest at a fixed rate of 1.594% per annum, payable semi-annually, and will mature in September 2037. The fourth series, which totaled ¥12.0 billion, bears interest at a fixed rate of 2.144% per annum, payable semi-annually, and will mature in September 2052. These notes are redeemable at the Parent Company’s option at any time, in whole but not in part, upon the occurrence of certain changes affecting U.S. taxation, as specified in the indenture governing the terms of the issuance. In addition, the notes maturing in September 2029, December 2032 and September 2037 are redeemable at the Parent Company's option, in whole or in part from time to time, on or after June 14, 2029, June 14, 2032 and March 14, 2037, respectively, at a redemption price equal to the aggregate principal amount of the applicable series to be redeemed plus accrued and unpaid interest on the principal amount to be redeemed to, but excluding, the date of redemption. In August 2022, the Parent Company renewed a senior term loan facility with a commitment amount totaling ¥107.0 billion. The first tranche of the facility, which totaled ¥11.7 billion, bears interest at a rate per annum equal to the Tokyo interbank market rate (TIBOR), or alternate TIBOR, if applicable, plus the applicable TIBOR margin and will mature in August 2027. The applicable margin ranges between .225% and .625%, depending on the Parent Company's debt ratings as of the date of determination. The second tranche, which totaled ¥25.3 billion, bears interest at a rate per annum equal to TIBOR, or alternate TIBOR, if applicable, plus the applicable TIBOR margin and will mature in August 2029. The applicable margin ranges between .325% and .725%, depending on the Parent Company's debt ratings as of the date of determination. The third tranche, which totaled ¥70.0 billion, bears interest at a rate per annum equal to TIBOR, or alternate TIBOR, if applicable, plus the applicable TIBOR margin and will mature in August 2032. The applicable margin ranges between .475% and 1.025%, depending on the Parent Company's debt ratings as of the date of determination. In October 2022, the Parent Company used a portion of the net proceeds from its September 2022 issuance of various series of senior notes to redeem $450 million of its 3.25% senior notes due March 2025. In September 2022, the Parent Company used a portion of the net proceeds from its September 2022 issuance of various series of senior notes and the August 2022 senior term loan facility to redeem $750 million of its 3.625% senior notes due November 2024. The aggregate contractual maturities of notes payable during each of the years after December 31, 2022, are as follows: (In millions) 2023 $ 0 2024 0 2025 93 2026 700 2027 540 Thereafter 5,795 Total $ 7,128 For further information regarding notes payable, see Note 9 of the Notes to the Consolidated Financial Statements. (B) Derivatives At December 31, 2022, the Parent Company's outstanding freestanding derivative contracts were swaps, foreign currency forwards and options. The swaps are associated with its notes payable, consisting of cross-currency interest rate swaps, also referred to as foreign currency swaps, associated with certain of the Parent Company's senior notes. The foreign currency forwards and options are designated as derivative hedges of the foreign currency exposure of the Company's net investment in Aflac Japan. The Parent Company does not use derivative financial instruments for trading purposes, nor does it engage in leveraged derivative transactions. For further information regarding these derivatives, see Notes 1, 4 and 9 of the Notes to the Consolidated Financial Statements. (C) Income Taxes The Parent Company and its eligible U.S. subsidiaries file a consolidated U.S. federal income tax return. Income tax liabilities or benefits are recorded by each principal subsidiary based upon separate return calculations, and any difference between the consolidated provision and the aggregate amounts recorded by the subsidiaries is reflected in the Parent Company financial statements. For further information on income taxes, see Note 10 of the Notes to the Consolidated Financial Statements. (D) Dividend Restrictions See Note 13 of the Notes to the Consolidated Financial Statements for information regarding dividend restrictions. (E) Supplemental Disclosures of Cash Flow Information (In millions) 2022 2021 2020 Interest paid $ 211 $ 213 $ 209 Noncash financing activities: Treasury stock issued for shareholder dividend reinvestment 37 32 29

SCHEDULE III SUPPLEMENTARY INSU

SCHEDULE III SUPPLEMENTARY INSURANCE INFORMATION	12 Months Ended
	Dec. 31, 2022
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Abstract]
SCHEDULE III SUPPLEMENTARY INSURANCE INFORMATION	SCHEDULE III SUPPLEMENTARY INSURANCE INFORMATION Aflac Incorporated and Subsidiaries Years ended December 31, (In millions) Deferred Policy Future Policy Unearned Other 2022: Aflac Japan $ 5,355 $ 73,760 $ 1,716 $ 6,119 Aflac U.S. 3,238 11,912 113 4 All other 0 305 (4) 0 Intercompany eliminations 0 (667) 0 0 Total $ 8,593 $ 85,310 $ 1,825 $ 6,123 2021: Aflac Japan $ 6,233 $ 84,079 $ 2,469 $ 7,064 Aflac U.S. 3,292 11,798 111 8 All other 0 280 (4) 0 Intercompany eliminations 0 (733) 0 0 Total $ 9,525 $ 95,424 $ 2,576 $ 7,072 Segment amounts may not agree in total to the corresponding consolidated amounts due to rounding. Years Ended December 31, (In millions) Net Net Benefits and Amortization of Other Premiums 2022: Aflac Japan $ 9,548 $ 2,867 $ 6,565 $ 547 $ 2,083 $ 9,474 Aflac U.S. 5,570 759 2,442 605 2,115 5,469 All other 145 30 146 0 395 0 Total $ 15,263 $ 3,656 $ 9,153 $ 1,152 $ 4,593 $ 14,943 2021: Aflac Japan $ 11,853 $ 3,139 $ 7,963 $ 653 $ 2,555 $ 11,600 Aflac U.S. 5,614 752 2,447 517 2,048 5,537 All other 180 (73) 166 0 435 0 Total $ 17,647 $ 3,818 $ 10,576 $ 1,170 $ 5,038 $ 17,137 2020: Aflac Japan $ 12,670 $ 2,856 $ 8,851 $ 644 $ 2,613 $ 12,312 Aflac U.S. 5,758 702 2,765 570 1,963 5,763 All other 194 80 180 0 402 0 Total $ 18,622 $ 3,638 $ 11,796 $ 1,214 $ 4,978 $ 18,075 Segment amounts may not agree in total to the corresponding consolidated amounts due to rounding. See the accompanying Report of Independent Registered Public Accounting Firm.

SCHEDULE IV REINSURANCE

SCHEDULE IV REINSURANCE	12 Months Ended
	Dec. 31, 2022
Reinsurance Disclosures [Abstract]
SCHEDULE IV REINSURANCE	SCHEDULE IV REINSURANCE Aflac Incorporated and Subsidiaries Years Ended December 31, (In millions) Gross Ceded to Assumed Net Percentage 2022: Life insurance in force $ 132,880 $ 11,755 $ 34,599 $ 155,724 22 % Premiums: Health insurance $ 13,058 $ 384 $ 235 $ 12,909 2 % Life insurance 2,329 35 60 2,354 3 Total earned premiums $ 15,387 $ 419 $ 295 $ 15,263 2 % 2021: Life insurance in force $ 134,577 $ 7,199 $ 22,568 $ 149,946 15 % Premiums: Health insurance $ 14,913 $ 475 $ 253 $ 14,691 2 % Life insurance 2,944 29 41 2,956 1 Total earned premiums $ 17,857 $ 504 $ 294 $ 17,647 2 % 2020: Life insurance in force $ 148,801 $ 7,016 $ 20,662 $ 162,447 13 % Premiums: Health insurance $ 15,682 $ 526 $ 213 $ 15,369 1 % Life insurance 3,273 27 7 3,253 0 Total earned premiums $ 18,955 $ 553 $ 220 $ 18,622 1 % Premiums by type may not agree in total to the corresponding consolidated amounts due to rounding. See the accompanying Report of Independent Registered Public Accounting Firm.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	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 (U.S.) and Japan. The Company's insurance business is marketed and administered through American Family Life Assurance Company of Columbus (Aflac) in the U.S. and through Aflac Life Insurance Japan Ltd. (ALIJ) in Japan. The Company’s operations consist of two reportable business segments: Aflac U.S., which includes Aflac, and Aflac Japan, which includes ALIJ. 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. With the exception of dental and vision products administered by Aflac Benefits Solutions Inc. (ABS), formerly known as Argus Dental & Vision, Inc., and certain group life insurance products, Aflac U.S. markets and administers group products through Continental American Insurance Company (CAIC), branded as Aflac Group Insurance. Additionally, Aflac U.S. markets its consumer markets products through Tier One Insurance Company (TOIC). The Company's insurance operations in the U.S. and Japan service the two markets for the Company's insurance business. Aflac Japan's revenues, including net gains and losses on its investment portfolio, accounted for 69% of the Company's total revenues in 2022, compared with 69% in 2021 and 68% in 2020. The percentage of the Company's total assets attributable to Aflac Japan was 80% at December 31, 2022, compared with 82% at December 31, 2021. In 2022, the Company established Aflac Re Bermuda Ltd. (Aflac Re Bermuda), a Bermuda domiciled insurer that reinsures certain policies issued by ALIJ. Aflac Re Bermuda is subject to regulation in Bermuda, where the Bermuda Monetary Authority (BMA) has broad administrative powers relating to granting and revoking licenses to transact reinsurance business, approval of specific reinsurance transactions, capital requirements and solvency standards, limitations on dividends to shareholders, the nature of and limitations on investments, and the filing of financial statements in accordance with prescribed or permitted accounting practices. In 2020, the Company, through its insurance subsidiaries Aflac and Aflac New York, acquired Zurich North America’s U.S. Corporate Life and Pensions business (Zurich), which consists of group life, disability and absence management products. Aflac and Aflac New York will reinsure on an indemnity basis Zurich's in-force group life and disability policies. Aflac also acquired assets needed to support the group life and disability business, along with an absence management platform. Basis of Presentation The Company prepares its financial statements in accordance with U.S. generally accepted accounting principles (U.S. 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 the Company to make estimates based on currently available information when recording transactions resulting from business operations. The most significant items on the Company's balance sheet that involve a greater degree of accounting estimates and actuarial determinations subject to changes in the future are the valuation of investments and derivatives, deferred policy acquisition costs (DAC), 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 are revised and reflected in operating results. Although some variability is inherent in these estimates, the Company believes the amounts provided are reasonable and reflective of the best estimates of management. The 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.
Market Conditions	Market Conditions: The impact of the Coronavirus Disease 2019 (COVID-19) global pandemic on the Company continues to evolve and the continued path of the global economic recovery remains uncertain given the potential longer-term impacts that have resulted from or are coincidental with the pandemic. For example, economic conditions have acted as headwinds to sales and earned premiums in 2022. Further, continued widening of the differential between U.S. and Japan interest rates has contributed to a weakening of the yen, which has the effect of suppressing the Company's current period results in relation to the comparable prior period.
Foreign Currency Translation	Foreign Currency Translation:  The functional currency of Aflac Japan is the Japanese yen. The Company translates its yen-denominated financial statement accounts into U.S. dollars as follows. Assets and liabilities are translated at end-of-period exchange rates. Realized gains and losses on security transactions are translated at the exchange rate on the trade date of each transaction. Other revenues, expenses, and cash flows are translated using average exchange rates for the period. The resulting currency translation adjustments are reported in accumulated other comprehensive income. The Company includes in earnings the realized currency exchange gains and losses resulting from foreign currency transactions. The Parent Company has designated a majority of its yen-denominated liabilities (notes payable and yen-denominated loans) as non-derivative hedges and foreign currency forwards and options as derivative hedges of the foreign currency exposure of the Company's net investment in Aflac Japan. Outstanding principal and related accrued interest on these Parent Company liabilities and the fair value of these derivatives are translated into U.S. dollars at end-of-period exchange rates. Currency translation adjustments and changes in the fair value of these derivatives are recorded as unrealized foreign currency translation gains (losses) in other comprehensive income and are included in accumulated other comprehensive income.
Insurance Revenue and Expense Recognition	Insurance Revenue and Expense Recognition:  Substantially all of the supplemental health and life insurance policies the Company issues are classified as long-duration contracts. The contract provisions generally cannot be changed or canceled during the contract period; however, the Company may adjust premiums for supplemental health policies issued in the U.S. within prescribed guidelines and with the approval of state insurance regulatory authorities. Insurance premiums for most of the Company's health and life policies, including cancer, accident, hospital, critical illness, dental, vision, term life, whole life, long-term care and disability, are recognized as earned premiums over the premium-paying periods of the contracts when due from policyholders. When earned premiums are reported, the related amounts of benefits and expenses are charged against such revenues, so that profits are recognized in proportion to earned premiums during the period the policies are expected to remain in force. This association is accomplished by means of annual additions to the liability for future policy benefits and the deferral and subsequent amortization of policy acquisition costs. Premiums from the Company's products with limited-pay features, including cancer, medical and nursing care, term life, whole life, WAYS, and child endowment, are collected over a significantly shorter period than the period over which benefits are provided. Premiums for these products are recognized as earned premiums over the premium-paying periods of the contracts when due from policyholders. Any gross premium in excess of the net premium is deferred and recorded in earnings, such that profits are recognized in a constant relationship with insurance in force. Benefits are recorded as an expense when they are incurred. A liability for future policy benefits is recorded when premiums are recognized using the net premium method. At the policyholder's option, customers can also pay discounted advanced premiums for certain of the Company's products. Advanced premiums are deferred and recognized when due from policyholders over the regularly scheduled premium payment period.
Advertising Expense	Advertising expense is reported as incurred in insurance and other expenses in the consolidated statements of earnings.
Cash and Cash Equivalents	Cash and Cash Equivalents:  Cash and cash equivalents include cash on hand, money market instruments, and other debt instruments with a maturity of 90 days or less when purchased.
Investments	Investments:  The Company's debt securities consist of fixed maturity securities, which are classified as either held to maturity or available for sale. Securities classified as held to maturity are securities that the Company has the ability and intent to hold to maturity or redemption and are carried at amortized cost. All other fixed maturity debt securities are classified as available for sale and are carried at fair value. If the fair value is higher than the amortized cost for debt securities, the excess is an unrealized gain, and if lower than cost, the difference is an unrealized loss. The net unrealized gains and losses on securities available for sale, less related deferred income taxes, are recorded through other comprehensive income and included in accumulated other comprehensive income. Amortized cost of debt securities is based on the Company's purchase price adjusted for accrual of discount, or amortization of premium, and recognition of impairment charges, if any. The amortized cost of debt securities the Company purchases at a discount or premium will equal the face or par value at maturity or the call date, if applicable. Interest is reported as income when earned and is adjusted for amortization of any premium or discount. The Company has investments in marketable equity securities which are carried at fair value. Changes in the fair value of equity securities are recorded in earnings as a component of net investment gains and losses. The Company has investments in variable interest entities (VIEs). Criteria for evaluating VIEs for consolidation focuses on identifying which enterprise has the power to direct the activities of a variable interest entity that most significantly impact the entity's economic performance and (1) the obligation to absorb losses of the entity or (2) the right to receive benefits from the entity. The Company is the primary beneficiary of certain VIEs, and therefore consolidates these entities in its financial statements. While the consolidated VIEs generally operate within a defined set of contractual terms, there are certain powers that are retained by the Company that are considered significant in the conclusion that the Company is the primary beneficiary. These powers vary by structure but generally include the initial selection of the underlying collateral; the ability to obtain the underlying collateral in the event of default; and, the ability to appoint or dismiss key parties in the structure. In particular, the Company's powers surrounding the underlying collateral were considered to be the most significant powers because these most significantly impact the economics of the VIE. The Company has no obligation to provide any continuing financial support to any of the entities in which it is the primary beneficiary. The Company's maximum loss is limited to its original investment. Neither the Company nor any of its creditors have the ability to obtain the underlying collateral, nor does the Company have control over the instruments held in the VIEs, unless there is an event of default. For those entities where the Company is the primary beneficiary, the consolidated entity's assets are segregated on the balance sheet by the caption "consolidated variable interest entities," and consist of fixed maturity securities, equity securities, loan receivables, limited partnerships and derivative instruments. For the mortgage- and asset-backed securities held in the Company's fixed maturity portfolio, the Company recognizes income using a constant effective yield, which is based on anticipated prepayments and the estimated economic life of the securities. When estimates of prepayments change, the effective yield is recalculated to reflect actual payments to date and anticipated future payments. The net investment in mortgage- and asset-backed securities is adjusted to the amount that would have existed had the new effective yield been applied at the time of acquisition. This adjustment is reflected in net investment income. The Company uses the specific identification method to determine the gain or loss from securities transactions and report the realized gain or loss in the consolidated statements of earnings as net investment gain or loss. Securities transactions are accounted for based on values as of the trade date of the transaction. The Company lends fixed maturity and public equity securities to financial institutions in short-term security-lending transactions. These securities continue to be carried as investment assets on the Company's balance sheet during the terms of the loans and are not reported as sales. The Company receives 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. For loans where the Company receives as collateral securities that the Company is not permitted to sell or repledge, the collateral is not reported as an asset. Commercial mortgage and other loans include transitional real estate loans (TREs), commercial mortgage loans (CMLs) and middle market loans (MMLs). The Company's investments in TREs, CMLs, and MMLs are accounted for as loan receivables and are recorded at amortized cost on the acquisition date. The Company has the intent and ability to hold these loan receivables for the foreseeable future or until they mature and therefore, they are considered held for investment and are carried at amortized cost in the commercial mortgage and other loans line in its consolidated balance sheets. The amortized cost of the loan receivables reflects allowances for expected lifetime credit losses estimated as of each reporting date. Other investments include policy loans, limited partnerships, and short-term investments with maturities at the time of purchase of one year or less, but greater than 90 days. Limited partnerships are accounted for using the equity method of accounting. Under the equity method of accounting, the Company reports its proportionate share of the investee's
Credit Losses	Credit Losses: The Company estimates expected lifetime credit losses on financial assets measured at amortized cost including short-term receivables, premiums receivable, held-to-maturity fixed maturity securities, loan receivables, loan commitments and reinsurance recoverables. For available-for-sale fixed maturity securities, the Company evaluates estimated credit losses only when the fair value of the available-for-sale fixed maturity security is below its amortized cost basis. Credit loss changes are recorded as a component of net investment gains and losses for the Company’s held-to-maturity and available-for-sale securities, loan receivables, loan commitments and reinsurance recoverables, whereas credit losses on premium receivables are recorded in net earned premiums in the consolidated statement of earnings. The Company’s off-balance sheet credit exposure is primarily attributable to loan commitments that are not unconditionally cancellable. The Company considers the contractual period of exposure to credit risk, the likelihood that funding will occur, the risk of loss, and the current conditions and expectations of future economic conditions to develop the estimate of expected credit losses. The Company records the estimate of expected credit losses for certain loan commitments within other liabilities in the consolidated balance sheet. Write-offs and partial write-offs are recorded as a reduction to the amortized cost of the loan or fixed maturity security balance and a corresponding reduction to the credit allowance. The Company has elected not to measure an allowance on accrued interest income for all asset types, because the uncollectible accrued interest receivable is written off in a timely manner. The Company writes off accrued interest when it is more than ninety days past due by reducing interest income, which is a component of net investment income, in the consolidated statement of earnings. The Company records due premium receivable net of current expected credit losses in the receivables line item in the consolidated balance sheet, utilizing an aging methodology based on historical loss information, adjusted for current conditions and reasonable and supportable forecasts. Changes in the estimated credit losses related to premium receivable are recorded in net earned premiums in the consolidated statement of earnings.
Derivatives and Hedging	Derivatives and Hedging: Freestanding derivative instruments are reported in the consolidated balance sheet at fair value within other assets and other liabilities, with changes in value reported in earnings and/or other comprehensive income. These freestanding derivatives are foreign currency forwards, foreign currency options, foreign currency swaps, interest rate swaps and interest rate swaptions. The Company does not use derivatives for trading purposes, nor does the Company engage in leveraged derivative transactions. From time to time, the Company purchases certain investments that contain an embedded derivative. The Company assesses whether this embedded derivative is clearly and closely related to the asset that serves as its host contract. If the Company deems that the embedded derivative's terms are not clearly and closely related to the host contract, and a separate instrument with the same terms would qualify as a derivative instrument, the derivative is separated from that contract, held at fair value, and reported with the host instrument in the consolidated balance sheet, with changes in fair value reported in earnings. If the Company has elected the fair value option, the embedded derivative is not bifurcated, and the entire investment is held at fair value with changes in fair value reported in earnings. See Note 5 for a discussion on how the Company determines the fair value of its derivatives. Accruals on derivatives are typically recorded in other assets or within other liabilities in the consolidated balance sheets. To qualify for hedge accounting treatment, a derivative must be highly effective in mitigating the designated risk attributable to the hedged item. At the inception of hedging relationships the Company formally documents all relationships between hedging instruments and hedged items, as well as its risk-management objectives and strategies for undertaking the respective hedging relationship, and the methodology that will be used to assess the effectiveness of the hedge relationship at and subsequent to hedge inception. The Company documents 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 exposure to changes in the fair value of a recognized asset or liability, attributable to a particular risk ("fair value hedge"); or (iii) a hedge of foreign currency exposure of a net investment in a foreign operation ("net investment hedge"). The documentation process includes linking derivatives and non-derivative financial instruments that are designated in hedge relationships with specific assets or groups of assets or liabilities in the statement of financial position or to specific forecasted transactions and defining the effectiveness testing methods to be used. At the hedge inception and on an ongoing quarterly basis, the Company also formally assesses whether the derivatives and non-derivative financial instruments used in hedging activities have been, and are expected to continue to be, highly effective in offsetting their designated risk. The assessment of hedge effectiveness determines the accounting treatment of changes in fair value. Hedge effectiveness is assessed using qualitative and quantitative methods. Qualitative methods may include the comparison of critical terms of the derivative to the hedged item, and quantitative methods may include regression, dollar offset, or other statistical analysis of changes in fair value or cash flows associated with the hedge relationship. For derivative instruments that are designated and qualify as cash flow hedges, the gain or loss on the portion of the hedging instrument included in the assessment of effectiveness is reported as a component of accumulated other comprehensive income (loss) and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Amounts reclassified are recorded in the line item of the consolidated statements of earnings in which gain or loss on the hedged item is recorded. The Company includes all components of each derivative's gain or loss in the assessment of hedge effectiveness. For derivative instruments that are designated and qualify as fair value hedges, the gain or loss on the hedged item and the portion of the hedging instrument included in the assessment of effectiveness are recorded in the line item of the consolidated statements of earnings in which gain or loss on the hedged item is recorded. When assessing the effectiveness of the Company's fair value hedges, the Company excludes the changes in fair value related to the difference between the spot and the forward rate on its foreign currency forwards, the fair value not resulting from fluctuations in spot currency rates on the final notional exchange on cross currency swaps, and the time value of money of foreign exchange options and interest rate swaptions. For interest rate swaptions and cross-currency interest rate swaps designated under fair value hedges of interest rate risk, the change in the time value of money is recognized in other comprehensive income (loss) and amortized into earnings (net investment income) over its legal term. As discussed in Note 4, from time to time the Company designates net investment hedges of its net investment in Aflac Japan. The Company makes its net investment hedge designation at the beginning of each quarter. The qualifying hedging instruments are non-derivative instruments that are not reported at fair value that represent yen-denominated liabilities, namely yen-denominated debt issued by the Company and foreign currency derivatives that include foreign currency forwards and options. For derivative and non-derivative hedging instruments designated as net investment hedges, the Company follows the spot-rate method. According to that method, the change in fair value of the hedging instrument due to fluctuations in the spot exchange rate is recorded in the unrealized foreign currency component of other comprehensive income and reclassified to earnings only when the hedged net investment is sold, or when a liquidation of the respective net investment in the foreign entity is substantially completed. If and when a sale or liquidation occurs, the changes in fair value of the derivative deferred in the unrealized foreign currency component of other comprehensive income will be released in the same income statement line item where the gain (loss) on the hedged net investment would be recorded upon sale. All other changes in fair value of the hedging instrument are considered the “excluded component” and are accounted for in net investment gains (losses). Should these designated net investment hedge positions exceed the Company's net investment in Aflac Japan, the foreign exchange effect on the portion that exceeds its investment in Aflac Japan would be recognized in current earnings within net investment gains (losses). The Company discontinues 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. 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 other gains (losses), which is a component of net 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. The Company receives and pledges cash or other securities as collateral on open derivative positions. Cash received as collateral is reported as an asset with a corresponding liability for the return of the collateral. Cash pledged as collateral is recorded as a reduction to cash, and a corresponding receivable is recognized for the return of the cash collateral. The Company generally can repledge or resell collateral obtained from counterparties, although the Company does not typically exercise such rights. Securities received as collateral are not recognized unless the Company was to exercise its
Deferred Policy Acquisition Costs	Deferred Policy Acquisition Costs: Certain direct and incremental costs of acquiring insurance contracts are deferred and amortized with interest over the premium payment periods in proportion to the ratio of annual earned premium to total anticipated earned premium. Anticipated earned premium is estimated by using the same mortality, persistency and interest assumptions used in computing liabilities for future policy benefits. In this manner, the related acquisition expenses are matched with revenues. Deferred costs include the excess of current-year commissions over ultimate renewal-year commissions and certain incremental direct policy issue, underwriting and sales expenses. All of these incremental costs are directly related to successful policy acquisition. For some products, policyholders can elect to modify product benefits, features, rights or coverages by exchanging a contract for a new contract or by amendment, endorsement, or rider to a contract, or by the election of a feature or coverage within a contract. These transactions are known as internal replacements. The Company performs a two-stage analysis of the internal replacements to determine if the modification is substantive to the base policy. The stages of evaluation are as follows: 1) determine if the modification is integrated with the base policy, and 2) if it is integrated, determine if the resulting contract is substantially changed. For internal replacement transactions where the resulting contract is substantially unchanged, unamortized deferred acquisition costs from the original policy continue to be amortized over the expected life of the new policy, and the costs of replacing the policy are accounted for as policy maintenance costs and expensed as incurred. For an internal replacement transaction that results in a policy that is substantially changed, unamortized deferred acquisition costs on the original policy are immediately expensed, and the costs of acquiring the new policy are capitalized and amortized in accordance with the Company's accounting policies for deferred acquisition costs. Riders can be considered internal replacements that are either integrated or non-integrated resulting in either substantially changed or substantially unchanged treatment. Riders are evaluated based on the specific facts and circumstances of the rider and are considered an expansion of the existing benefits with additional premium required. Non-integrated riders to existing contracts do not change the Company's profit expectations for the related products and are treated as a new policy establishment for incremental coverage.
Goodwill	Goodwill: Goodwill is an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. The amount of goodwill recognized is also impacted by measurement differences resulting from certain assets and liabilities not recorded at fair value (e.g. income taxes, employee benefits). Goodwill is not amortized, but is tested for impairment at a level of a reporting unit at least annually, in the same reporting period each year. Goodwill is included in the line item “Other” assets in the consolidated balance sheets and was $265 million as of December 31, 2022, compared with $268 million at December 31, 2021. A significant majority of the goodwill balance is attributable to the following business combinations within the Aflac U.S. segment, which represents the reporting unit for goodwill impairment testing: (i) CAIC acquisition in 2009, (ii) Empoweredbenefits, LLC acquisition in 2015, (iii) ABS acquisition in 2019, and (iv) acquisition of Zurich's business in 2020.
Policy Liabilities - Future Policy Benefits	Policy Liabilities:  Future policy benefits represent insurance claims that are expected to occur in the future and are computed following a net level premium method using estimated future investment yields, persistency and recognized morbidity and mortality tables modified to reflect the Company's experience, including a provision for adverse deviation. These assumptions are generally established and considered locked at policy inception. These assumptions may only be unlocked in certain circumstances based on the results of periodic DAC recoverability and premium deficiency testing.
Policy Liabilities - Unpaid Policy Claims	Unpaid policy claims are estimates computed primarily on an undiscounted basis using statistical analyses of historical claims experience adjusted for current trends and changed conditions. The ultimate liability may vary significantly from such estimates. The Company regularly adjusts these estimates as new claims experience emerges and reflects the changes in operating results in the year such adjustments are made.
Unearned Premiums	Unearned premiums consist primarily of discounted advance premiums on deposit from policyholders in conjunction with their purchase of certain Aflac Japan limited-pay insurance products. These advanced premiums are deferred upon collection and recognized as earned premiums over the contractual premium payment period.
Other Policy Liabilities	Other policyholders’ funds liability consists primarily of the fixed annuity line of business in Aflac Japan which has fixed benefits and premiums.
Internal Replacements of Insurance Contracts	For internal replacements that are determined to be substantially changed, policy liabilities related to the original policy that was replaced are immediately released, and policy liabilities are established for the new insurance contract. Further, the policy reserves are evaluated based on the new policy features, and changes are recognized at the date of contract change/modification. However, for internal replacements that are considered substantially unchanged, no changes to the reserves are recognized.
Reinsurance	Reinsurance: The Company enters into reinsurance agreements in the normal course of business. For each reinsurance agreement, the Company determines if 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, benefits and DAC are reported net of insurance ceded.
Income Taxes	Income Taxes: Income tax provisions are generally based on pretax earnings reported for financial statement purposes, which differ from those amounts used in preparing the Company's income tax returns. Deferred income taxes are recognized for temporary differences between the financial reporting basis and income tax basis of assets and liabilities, based on enacted tax laws and statutory tax rates applicable to the periods in which the Company expects the temporary differences to reverse. The Company records deferred tax assets for tax positions taken based on its assessment of whether the tax position is more likely than not to be sustained upon examination by taxing authorities. A valuation allowance is established for deferred tax assets when it is more likely than not that an amount will not be realized.
Policyholder Protection Corporation and State Guaranty Association Assessments	Policyholder Protection Corporation and State Guaranty Association Assessments: In Japan, the government has required the insurance industry to contribute to a policyholder protection corporation. The Company recognizes a charge for its estimated share of the industry's obligation once it is determinable. The Company reviews the estimated liability for policyholder protection corporation contributions on an annual basis and reports any adjustments in Aflac Japan's expenses. In the U.S., each state has a guaranty association that supports insolvent insurers operating in those states. The Company's policy is to accrue assessments when the entity for which the insolvency relates has met its state of domicile's statutory definition of insolvency, the amount of the loss is reasonably estimable and the related premium upon which the assessment is based is written. See Note 15 of the Notes to the Consolidated Financial Statements for further discussion of the guaranty fund assessments charged to the Company.
Treasury Stock	Treasury Stock: Treasury stock is reflected as a reduction of shareholders' equity at cost. The Company uses the weighted-average purchase cost to determine the cost of treasury stock that is reissued. The Company includes any gains and losses in additional paid-in capital when treasury stock is reissued.
Share-Based Compensation	Share-Based Compensation: The Company measures compensation cost related to its share-based payment transactions at fair value on the grant date, and the Company recognizes those costs in the financial statements over the vesting period during which the employee provides service in exchange for the award. The Company has made an entity-wide accounting policy election to estimate the number of awards that are expected to vest and the corresponding forfeitures.
Earnings Per Share	Earnings Per Share: The Company computes basic earnings per share (EPS) by dividing net earnings by the weighted-average number of unrestricted shares outstanding for the period. Diluted EPS is computed by dividing net earnings by the weighted-average number of shares outstanding for the period plus the shares representing the dilutive effect of share-based awards.
Reclassifications	Reclassifications: Certain reclassifications have been made to prior-year amounts to conform to current-year reporting classifications. These reclassifications had no impact on net earnings or total shareholders' equity.
Recently Adopted Accounting Pronouncements	New Accounting Pronouncements Recently Adopted Accounting Pronouncements ASU 2020-04 Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting , as clarified and amended by: ASU 2021-01 Reference Rate Reform: Relief Extended to Derivatives Impacted by Discounting Transition ASU 2022-06 Reference Rate Reform: Deferral of the Sunset Date of Topic 848 In March 2020, the FASB issued amendments that provide optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions affected by the reference rate reform if certain criteria are met. The amendments in this ASU only apply to contracts, hedging relationships, and other transactions that reference the London Interbank Offered Rate (LIBOR) or another reference rate expected to be discontinued because of reference rate reform. An entity may elect to apply the amendments as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020, up to the date that the financial statements are available to be issued. In January 2021, the FASB issued a standard to permit entities to apply optional expedients in ASC 848 to derivative instruments modified because of discounting transition. Discounting transition refers to the changing of interest rates used for margining, discounting, or contract price alignment of derivative instruments to transition to alternative rates. The amendment is effective immediately. In December 2022, the FASB issued amendments that defer the sunset date for applying the reference rate reform relief in ASC 848 from December 31, 2022, to December 31, 2024, after which entities will no longer be permitted to apply the optional expedients and exceptions. These amendments are effective immediately. This standard was adopted on April 1, 2020. The adoption of the new guidance did not have an impact on the Company’s financial statements. The Company will continue to evaluate the impacts of reference rate reform on contract modifications and hedging relationships through December 31, 2024. ASU 2019-04 Codification Improvements to Topic 326, Financial Instruments - Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments In April 2019, the FASB issued Codification improvements to clarify and correct certain areas of guidance amended as part of ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities; ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments; and ASU 2017-12, Derivative and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. The most significant of these improvements to the Company was related to the Codification improvement to ASU 2017-12 and the clarification that a one-time reclassification of assets that are eligible to be hedged under the last-of-layer method (i.e., certain pre-payable securities) from held-to-maturity to available-for-sale is allowed under the new hedge accounting guidance and would not impact the Company’s ability to continue to classify other bonds as held-to-maturity. The other amendments related to ASU 2017-12 and 2016-01 are either not significant, or were previously implemented as part of the related ASU adoptions. Applicable amendments related to ASU 2016-13 are discussed within the recent adoption of that update below. This standard was adopted on January 1, 2020. The adoption of this guidance resulted in a reclassification of $6.9 billion (at amortized cost) of pre-payable fixed-maturity securities from the held-to-maturity to the available-for-sale category. The reclassification resulted in recording in beginning 2020 accumulated other comprehensive income a net unrealized gain of $848 million on an after-tax basis, based on the securities’ fair values on the reclassification date. The reclassification impacted the adoption of ASU 2016-13 (see ASU 2016-13 below for additional details). ASU 2016-13 Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments , as clarified and amended by: ASU 2019-04 Codification Improvements to Topic 326, Financial Instruments - Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments ASU 2019-05 Financial Instruments - Credit Losses (Topic 326), Targeted Transition Relief ASU 2019-11 Codification Improvements to Topic 326, Financial Instruments - Credit Losses In June 2016, the FASB issued amendments that require a financial asset (or a group of financial assets) measured at amortized cost to be presented net of an allowance for credit losses (Credit Losses ASU) in order to reflect the amount expected to be collected on the financial asset(s). This standard was adopted on January 1, 2020. The Company recorded a cumulative effect adjustment with a decrease to beginning 2020 retained earnings of $56 million, net of taxes. See Note 3 of the Notes to the Consolidated Financial Statements for credit loss disclosures. The following line items in the consolidated balance sheets were most significantly impacted by the adoption of the new accounting standard: • Fixed maturity securities held to maturity, at amortized cost • Commercial mortgage and other loans • Reinsurance recoverable, included within Other asset
Description of Accounting Pronouncements Pending Adoption	Accounting Pronouncements Pending Adoption ASU 2018-12 Financial Services - Insurance: Targeted Improvements to the Accounting for Long-Duration Contracts , as clarified and amended by: ASU 2019-09 Financial Services - Insurance: Effective Date ASU 2020-11 Financial Services - Insurance: Effective Date and Early Application In August 2018, the FASB issued amendments that will significantly change how insurers account for long-duration contracts. The amendments will change existing recognition, measurement, presentation, and disclosure requirements. Issues addressed in the new guidance include: 1) a requirement to review and, if there is a change, update assumptions for the liability for future policy benefits (LFBP) at least annually, and to update the discount rate assumption quarterly, 2) accounting for market risk benefits at fair value, 3) simplified amortization for deferred acquisition costs, and 4) enhanced financial statement presentation and disclosures. In November 2019, the FASB issued an amendment extending the effective date for public business entities that meet the definition of a Securities and Exchange Commission (SEC) filer, excluding entities eligible to be small reporting companies as defined by the SEC, by one year. In November 2020, the FASB issued an amendment providing an additional year deferral for all insurance entities due to the impact of COVID-19. The amendments are now effective for the Company for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022. Early application of the amendments is permitted. The Company will conclude implementation efforts and adopt the amendments as of January 1, 2023. The adoption will have a significant impact on the Company’s financial position, results of operations, and disclosures. The requirement to update assumptions for the LFPB will have a significant impact on the Company's results of operations, systems, processes and controls, and the requirement to update discount rates will have a significant impact on its equity. As part of working toward implementation of the updated standard, the Company has made key accounting policy decisions, including establishing processes to identify insurance policy groupings (cohorts) for LFPB measurement and DAC amortization purposes, applicable discount rates, development of liability cash flow and claim expense assumptions, and DAC amortization methodology. The Company did not early adopt the updated standard and has selected the modified retrospective transition method, which requires the amended guidance be applied as of the beginning of the earliest period presented beginning on the January 1, 2021 transition date (Transition Date). The modified retrospective transition method generally results in applying the guidance to contracts on the basis of existing carrying values as of the Transition Date. On the Transition Date, the Company calculates the ratio of expected benefits less existing carrying values to gross premiums (net premium ratio) using updated assumptions and the discount rate immediately before the Transition Date. For any cohorts that have a net premium ratio greater than 100% on the Transition Date, the net premium ratio is capped at 100%. The Company uses the net premium ratio calculated on the Transition Date (and capped at 100% if required) to calculate the LFPB using two different discount rates: (i) the discount rate used immediately before the Transition Date, and (ii) the discount rate determined by reference to the Transition Date market level yields for upper-medium-grade (low credit risk) fixed income instruments (as of December 31, 2020). For cohorts with their net premium ratio capped at 100% on the Transition Date, any difference between the LFPB calculated using the discount rate immediately before the Transition Date and the existing carrying value as of the Transition Date is recorded as an adjustment (decrease) to opening retained earnings. For all cohorts on the Transition Date, the difference in the LFPB calculated using the two different discount rates (i.e., the discount rate used immediately before the Transition Date and the updated discount rate as of the Transition Date) is recorded in accumulated other comprehensive income (AOCI) net of tax at transition. Upon adoption, opening equity will be adjusted for the Transition Date impacts to AOCI and retained earnings and prior periods presented (years 2021 and 2022) will be restated following the updated standard. Based upon the modified retrospective transition method, the Transition Date impact from adoption will result in a decrease in AOCI of approximately $18.6 billion and a decrease in retained earnings of approximately $0.3 billion. The decrease in AOCI as of January 1, 2023 will be reduced to approximately $2.1 billion due to rising interest rates and a weakening of the yen. The Company has designed its discount rate methodology for both the U.S. and Japan insurance business. The methodology incorporates constructing a discount rate curve separately for discounting cash flows used to calculate the U.S. and Japan LFPB, with each curve intended to be reflective of the currency, tenor and characteristics of the insurance liabilities. Discount rates comprising each curve are determined by reference to upper-medium grade (low credit risk) fixed-income instrument yields that reflect the duration characteristics of the corresponding insurance liabilities. The Company uses for these yields single-A rated fixed income instruments with credit ratings based on international rating standards. Where only local ratings are available, the Company selects the fixed-income instruments with local ratings that are equivalent to a single-A rating based on international rating standards. The methodology is designed to prioritize observable inputs based on market data available in the local debt markets where the respective policies were issued in the currency in which the policies are denominated. For the discount rates applicable to tenors for which the single-A debt market is not liquid or there is little or no observable market data, the Company uses various estimation techniques consistent with the fair value guidance in ASC 820, which include, but are not limited to: (i) for tenors where there is less observable market data and/or the observable market data is available for similar instruments, estimating tenor-specific single-A credit spreads and applying them to risk-free government rates; (ii) for tenors where there is very limited or no observable single-A or similar market data, interpolation and extrapolation techniques. Discount rates are updated each reporting period. Long duration insurance contracts issued by the Company will be grouped into annual calendar-year cohorts based on the contract issue date, reportable segment, legal entity and product type. Limited pay contracts will be grouped into separate cohorts from other traditional products in the same manner and will be further separated based on their premium payment structures. Riders will be combined with base policies with similar insurance coverage types and the same contract issue years. In addition to the policy elections related to cohorts and LFPB discount rates directly impacting Transition Date AOCI, the Company has also made the following accounting policy elections relevant to the post-Transition Date accounting: • All payments under an insurance contract including future expected claims and already incurred claims (i.e., claim liabilities) and related expenses will be measured together as an integrated reserve. This will result in the following presentation changes in the consolidated balance sheet: (i) unpaid policy claims on long-duration insurance contracts and accrued claim adjustment expenses presented separately pre-adoption will be presented as part of LFPB; and (ii) liabilities for fixed annuity benefits will be excluded from the integrated reserve, as they are outside the scope of the amended standard, and will be presented in other policyholders' funds. • The Company will update the net premium ratio each quarter to reflect actual gross premiums and benefits in the quarter and updated expected future cash flows based on the actual ending insurance in force. Cash flow assumptions will also be evaluated each quarter to determine if an update is needed. To facilitate a more detailed review of cash flow assumptions, experience studies will be performed annually in the consistent quarter year-to-year to substantiate assumptions, including mortality, morbidity, and terminations in future periods. • Locked-in discount rates used for the computation of interest accretion on LFPB for policies issued on or after January 1, 2021 will be determined for each issue-year cohort as a single discount rate, calculated as the weighted-average of monthly upper-medium grade (low credit risk) fixed-income instrument forward curves over the calendar year, determined using the methodology described above and weighted using issued annualized premiums for each issue month. The single discount rate for each issue-year cohort will remain unchanged after the calendar year of issue. Locked-in discount rates on the policies held at Transition Date reflect the locked-in rates in existence immediately before the Transition Date. • For DAC amortization, the Company has elected to group insurance policies into cohorts that are consistent with the groupings used in estimating the associated LFPB. DAC will be amortized on a constant level basis for the grouped contracts over the expected remaining term of the related contracts. For both life and health products issued by Aflac Japan, the constant-level basis used will be units in force, which is a proxy for face amount and insurance in force, respectively. For life products issued by Aflac U.S., the constant level basis used will be face amount of policies in force; for health products issued by Aflac U.S., the constant level basis used will be the number of policies in force. • The Company has made an entity-wide election to use locked-in claim expense assumptions determined for each issue-year cohort as a percentage of paid claims; these assumptions remain unchanged over the term of the insurance policy. Under the amended guidance, certain insurance commissions and expenses must be excluded from the expense assumption, which will result in an increase in the deferred profit liability on limited-payment products compared to current guidance. In conjunction with the adoption of the updated standard effective January 1, 2023, the Company will change its practice of recording the change in the deferred profit liability on products with limited-payment features from the benefits and claims, net line item to the net earned premiums line item in the consolidated statement of earnings. This reclassification will have no impact on net earnings. The change in presentation will be made for all comparative periods presented and has been reflected in the consolidated statements of earnings and consolidated balance sheets as of and for the years ended December 31, 2022 and 2021 as adjusted under the amended guidance and presented below as part of this Note 1. The Company has created a governance framework and a plan to support implementation of the updated standard. As part of its implementation plan, the Company has completed the modernization of its actuarial technology platform to enhance its modeling, data management, experience study and analytical capabilities, increase the end-to-end automation of key reporting and analytical processes and optimize its control framework. The Company has also put in place internal controls related to the new processes created as part of implementing the updated standard. The Company continues testing its reporting and disclosure capabilities under the new ASU for post-Transition Date accounting periods. The Company currently has no products with market risk benefits. Impacts on Previously Reported Results Impacts from the adoption of ASU 2018-12 to the Company's previously reported results are expected to be as follows: Consolidated Statement of Earnings Year Ended December 31, 2022 (In millions) As Adoption As Revenues: Net earned premiums, principally supplemental health insurance (1) $ 15,263 $ (362) $ 14,901 Net investment income 3,656 0 3,656 Net investment gains (losses) 363 0 363 Other income (loss) 220 0 220 Total revenues 19,502 (362) 19,140 Benefits and expenses: Benefits and claims, excluding reserve remeasurement (1),(2) 9,153 (51) 9,102 Reserve remeasurement (gains) losses (3) 0 (215) (215) Total benefits and claims, net 9,153 (266) 8,887 Acquisition and operating expenses: Amortization of deferred policy acquisition costs (4) 1,152 (360) 792 Insurance commissions 1,117 0 1,117 Insurance and other expenses (5) 3,250 (1) 3,249 Interest expense 226 0 226 Total acquisition and operating expenses 5,745 (361) 5,384 Total benefits and expenses 14,898 (627) 14,271 Earnings before income taxes 4,604 265 4,869 Income taxes (6) 403 48 451 Net earnings $ 4,201 $ 217 $ 4,418 (1) Adjustment reflects a $324 increase in the deferred profit liability on limited-payment products under the updated standard combined with the reclassification of a $38 increase in deferred profit liability previously reported in benefits and claims and reclassified to net earned premiums in conjunction with adoption of the updated standard. (2) Adjustment reflects 2022 activity for the effect of calculating benefits using revised net premium ratios and best estimate future cash flow projections, excluding reserve remeasurement impacts. (3) Adjustment reflects the reserve remeasurement on the liability for future policy benefits due to applying revised net premium ratios based on updated historical actuals and revised assumptions to past periods each quarter under the updated standard. (4) Adjustment reflects a decrease in DAC amortization due to DAC assets being amortized over the expected life of a contract and no interest accretion recorded under the updated standard. (5) Adjustment reflects 2022 activity for the change in accrued claim adjustment expenses that are included in benefits and claims as a component of the integrated reserve under the updated standard. (6) Adjustment reflects an increase in income tax expense associated with the increase in pretax earnings. Consolidated Statement of Earnings Year Ended December 31, 2021 (In millions) As Adoption As Revenues: Net earned premiums, principally supplemental health insurance (1) $ 17,647 $ (552) $ 17,095 Net investment income 3,818 0 3,818 Net investment gains (losses) 468 0 468 Other income (loss) 173 0 173 Total revenues 22,106 (552) 21,554 Benefits and expenses: Benefits and claims, excluding reserve remeasurement (1)(2) 10,576 47 10,623 Reserve remeasurement (gains) losses (3) 0 (147) (147) Total benefits and claims, net 10,576 (100) 10,476 Acquisition and operating expenses: Amortization of deferred policy acquisition costs (4) 1,170 (335) 835 Insurance commissions 1,256 0 1,256 Insurance and other expenses (5) 3,544 (3) 3,541 Interest expense 238 0 238 Total acquisition and operating expenses 6,208 (338) 5,870 Total benefits and expenses 16,784 (438) 16,346 Earnings before income taxes 5,322 (114) 5,208 Income taxes (6) 997 (20) 977 Net earnings $ 4,325 $ (94) $ 4,231 (1) Adjustment reflects a $489 increase in the deferred profit liability on limited-payment products under the updated standard combined with the reclassification of a $63 increase in deferred profit liability previously reported in benefits and claims and reclassified to net earned premiums in conjunction with adoption of the updated standard. (2) Adjustment reflects 2021 activity for the effect of calculating benefits using revised net premium ratios and best estimate future cash flow projections, excluding reserve remeasurement impacts. (3) Adjustment reflects the reserve remeasurement on the liability for future policy benefits due to applying revised net premium ratios based on updated historical actuals and revised assumptions to past periods each quarter under the updated standard. (4) Adjustment reflects a decrease in DAC amortization due to DAC assets being amortized over the expected life of a contract and no interest accretion recorded under the updated standard. (5) Adjustment reflects 2021 activity for the change in accrued claim adjustment expenses that are included in benefits and claims as a component of the integrated reserve under the updated standard. (6) Adjustment reflects a decrease in income tax expense associated with the decrease in pretax earnings. Consolidated Balance Sheet December 31, 2022 (In millions) As Adoption As Assets: Investments and cash: Fixed maturity securities available for sale, at fair value $ 71,936 $ 0 $ 71,936 Fixed maturity securities available for sale - consolidated variable interest entities, at fair value 3,805 0 3,805 Fixed maturity securities held to maturity, at amortized cost, net of allowance for credit losses 19,056 0 19,056 Equity securities, at fair value 1,091 0 1,091 Commercial mortgage and other loans, net of allowance for credit losses 13,496 0 13,496 Other investments 4,070 0 4,070 Cash and cash equivalents 3,943 0 3,943 Total investments and cash 117,397 0 117,397 Receivables 647 0 647 Accrued investment income 745 0 745 Deferred policy acquisition costs (1) 8,593 646 9,239 Property and equipment 530 0 530 Other (2) 3,105 75 3,180 Total assets $ 131,017 $ 721 $ 131,738 Liabilities and shareholders’ equity: Liabilities: Policy liabilities: Future policy benefits (3),(4),(5) $ 80,749 $ 7,492 $ 88,241 Unpaid policy claims (3),(6) 4,561 (4,360) 201 Unearned premiums 1,825 0 1,825 Other policyholders’ funds (6) 6,123 520 6,643 Total policy liabilities 93,258 3,652 96,910 Income taxes (7) 1,296 (598) 698 Payables for return of cash collateral on loaned securities 1,809 0 1,809 Notes payable and lease obligations 7,442 0 7,442 Other (4) 4,847 (108) 4,739 Total liabilities 108,652 2,946 111,598 Commitments and contingent liabilities Shareholders’ equity: Common stock 135 0 135 Additional paid-in capital 2,641 0 2,641 Retained earnings (8) 44,568 (201) 44,367 Accumulated other comprehensive income (loss): Unrealized foreign currency translation gains (losses) (9) (3,640) 76 (3,564) Unrealized gains (losses) on fixed maturity securities (702) 0 (702) Unrealized gains (losses) on derivatives (27) 0 (27) Effect of changes in discount rate assumptions (10) 0 (2,100) (2,100) Pension liability adjustment (36) 0 (36) Treasury stock (20,574) 0 (20,574) Total shareholders’ equity 22,365 (2,225) 20,140 Total liabilities and shareholders’ equity $ 131,017 $ 721 $ 131,738 (1) Adjustment reflects an increase in DAC assets as a result of DAC being amortized over the expected life of a contract and no interest accretion recorded under the updated standard. (2) Adjustment reflects the discounting of reinsurance recoverables under the updated standard. (3) Adjustment for the reclassification of unpaid policy claims for long-duration contracts to future policy benefits as a component of the integrated reserve. (4) Adjustment for the reclassification of accrued claim adjustment expenses from other liabilities to future policy benefits as a component of the integrated reserve. (5) Adjustment reflects the impacts of adopting the standard and post-adoption impacts including calculating benefit reserves using revised net premium ratios and an increase in the deferred profit liability on limited-payment products (6) Adjustment for the reclassification of the claims liability for certain fixed annuity benefits from unpaid policy claims to other policyholders' funds. (7) Adjustment reflects the tax effects from adoption and post-adoption activity under the updated standard. (8) Adjustment reflects the cumulative impact from adoption and post-adoption activity under the updated standard, including the increase in 2022 net earnings of $217. (9) Adjustment reflects foreign currency translation related to the updated standard, as applicable. (10) Adjustment reflects the cumulative impact from adoption and post-adoption activity under the updated standard, including an increase of $13,732 in 2022 due to changes in the discount rate assumptions. Consolidated Balance Sheet December 31, 2021 (In millions) As Adoption As Assets: Investments and cash: Fixed maturity securities available for sale, at fair value $ 94,206 $ 0 $ 94,206 Fixed maturity securities available for sale - consolidated variable interest entities, at fair value 4,490 0 4,490 Fixed maturity securities held to maturity, at amortized cost, net of allowance for credit losses 22,000 0 22,000 Equity securities, at fair value 1,603 0 1,603 Commercial mortgage and other loans, net of allowance for credit losses 11,786 0 11,786 Other investments 3,842 0 3,842 Cash and cash equivalents 5,051 0 5,051 Total investments and cash 142,978 0 142,978 Receivables 672 0 672 Accrued investment income 737 0 737 Deferred policy acquisition costs (1) 9,525 323 9,848 Property and equipment 538 0 538 Other (2) 3,092 285 3,377 Total assets $ 157,542 $ 608 $ 158,150 Liabilities and shareholders’ equity: Liabilities: Policy liabilities: Future policy benefits (3),(4),(5) $ 90,588 $ 25,376 $ 115,964 Unpaid policy claims (3),(6) 4,836 (4,685) 151 Unearned premiums 2,576 0 2,576 Other policyholders’ funds (6) 7,072 568 7,640 Total policy liabilities 105,072 21,259 126,331 Income taxes (7) 4,339 (4,309) 30 Payables for return of cash collateral on loaned securities 2,162 0 2,162 Notes payable and lease obligations 7,956 0 7,956 Other (4) 4,760 (120) 4,640 Total liabilities 124,289 16,830 141,119 Commitments and contingent liabilities Shareholders’ equity: Common stock 135 0 135 Additional paid-in capital 2,529 0 2,529 Retained earnings (8) 41,381 (418) 40,963 Accumulated other comprehensive income (loss): Unrealized foreign currency translation gains (losses) (9) (2,013) 28 (1,985) Unrealized gains (losses) on fixed maturity securities 9,602 0 9,602 Unrealized gains (losses) on derivatives (30) 0 (30) Effect of changes in discount rate assumptions (10) 0 (15,832) (15,832) Pension liability adjustment (166) 0 (166) Treasury stock (18,185) 0 (18,185) Total shareholders’ equity 33,253 (16,222) 17,031 Total liabilities and shareholders’ equity $ 157,542 $ 608 $ 158,150 (1) Adjustment reflects an increase in DAC assets as a result of DAC being amortized over the expected life of a contract and no interest accretion recorded under the updated standard. (2) Adjustment reflects the discounting of reinsurance recoverables under the updated standard. (3) Adjustment for the reclassification of unpaid policy claims for long-duration contracts to future policy benefits as a component of the integrated reserve. (4) Adjustment for the reclassification of accrued claim adjustment expenses from other liabilities to future policy benefits as a component of the integrated reserve. (5) Adjustment reflects the impacts of adopting the standard and post-adoption impacts including calculating benefit reserves using revised net premium ratios and an increase in the deferred profit liability on limited-payment products (6) Adjustment for the reclassification of the claims liability for certain fixed annuity benefits from unpaid policy claims to other policyholders' funds. (7) Adjustment reflects the tax effects from adoption and post-adoption activity under the updated standard. (8) Adjustment reflects the impacts from adoption of ($324) as a result of capping the net premium ratio at 100% for cohorts that are in a loss position at transition and post-adoption activity under the updated standard, including the decrease in 2021 net earnings of $(94). (9) Adjustment reflects foreign currency translation related to the updated standard, as applicable. (10) Adjustment reflects the impacts from adoption of ($18,570) and post-adoption activity under the updated standard, including $2,738 in 2021 due to changes in the discount rate assumptions.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Impact from Adoption on Statement of Earnings	Consolidated Statement of Earnings Year Ended December 31, 2022 (In millions) As Adoption As Revenues: Net earned premiums, principally supplemental health insurance (1) $ 15,263 $ (362) $ 14,901 Net investment income 3,656 0 3,656 Net investment gains (losses) 363 0 363 Other income (loss) 220 0 220 Total revenues 19,502 (362) 19,140 Benefits and expenses: Benefits and claims, excluding reserve remeasurement (1),(2) 9,153 (51) 9,102 Reserve remeasurement (gains) losses (3) 0 (215) (215) Total benefits and claims, net 9,153 (266) 8,887 Acquisition and operating expenses: Amortization of deferred policy acquisition costs (4) 1,152 (360) 792 Insurance commissions 1,117 0 1,117 Insurance and other expenses (5) 3,250 (1) 3,249 Interest expense 226 0 226 Total acquisition and operating expenses 5,745 (361) 5,384 Total benefits and expenses 14,898 (627) 14,271 Earnings before income taxes 4,604 265 4,869 Income taxes (6) 403 48 451 Net earnings $ 4,201 $ 217 $ 4,418 (1) Adjustment reflects a $324 increase in the deferred profit liability on limited-payment products under the updated standard combined with the reclassification of a $38 increase in deferred profit liability previously reported in benefits and claims and reclassified to net earned premiums in conjunction with adoption of the updated standard. (2) Adjustment reflects 2022 activity for the effect of calculating benefits using revised net premium ratios and best estimate future cash flow projections, excluding reserve remeasurement impacts. (3) Adjustment reflects the reserve remeasurement on the liability for future policy benefits due to applying revised net premium ratios based on updated historical actuals and revised assumptions to past periods each quarter under the updated standard. (4) Adjustment reflects a decrease in DAC amortization due to DAC assets being amortized over the expected life of a contract and no interest accretion recorded under the updated standard. (5) Adjustment reflects 2022 activity for the change in accrued claim adjustment expenses that are included in benefits and claims as a component of the integrated reserve under the updated standard. (6) Adjustment reflects an increase in income tax expense associated with the increase in pretax earnings. Consolidated Statement of Earnings Year Ended December 31, 2021 (In millions) As Adoption As Revenues: Net earned premiums, principally supplemental health insurance (1) $ 17,647 $ (552) $ 17,095 Net investment income 3,818 0 3,818 Net investment gains (losses) 468 0 468 Other income (loss) 173 0 173 Total revenues 22,106 (552) 21,554 Benefits and expenses: Benefits and claims, excluding reserve remeasurement (1)(2) 10,576 47 10,623 Reserve remeasurement (gains) losses (3) 0 (147) (147) Total benefits and claims, net 10,576 (100) 10,476 Acquisition and operating expenses: Amortization of deferred policy acquisition costs (4) 1,170 (335) 835 Insurance commissions 1,256 0 1,256 Insurance and other expenses (5) 3,544 (3) 3,541 Interest expense 238 0 238 Total acquisition and operating expenses 6,208 (338) 5,870 Total benefits and expenses 16,784 (438) 16,346 Earnings before income taxes 5,322 (114) 5,208 Income taxes (6) 997 (20) 977 Net earnings $ 4,325 $ (94) $ 4,231 (1) Adjustment reflects a $489 increase in the deferred profit liability on limited-payment products under the updated standard combined with the reclassification of a $63 increase in deferred profit liability previously reported in benefits and claims and reclassified to net earned premiums in conjunction with adoption of the updated standard. (2) Adjustment reflects 2021 activity for the effect of calculating benefits using revised net premium ratios and best estimate future cash flow projections, excluding reserve remeasurement impacts. (3) Adjustment reflects the reserve remeasurement on the liability for future policy benefits due to applying revised net premium ratios based on updated historical actuals and revised assumptions to past periods each quarter under the updated standard. (4) Adjustment reflects a decrease in DAC amortization due to DAC assets being amortized over the expected life of a contract and no interest accretion recorded under the updated standard. (5) Adjustment reflects 2021 activity for the change in accrued claim adjustment expenses that are included in benefits and claims as a component of the integrated reserve under the updated standard. (6) Adjustment reflects a decrease in income tax expense associated with the decrease in pretax earnings.
Schedule of Impact from Adoption on Balance Sheet	Consolidated Balance Sheet December 31, 2022 (In millions) As Adoption As Assets: Investments and cash: Fixed maturity securities available for sale, at fair value $ 71,936 $ 0 $ 71,936 Fixed maturity securities available for sale - consolidated variable interest entities, at fair value 3,805 0 3,805 Fixed maturity securities held to maturity, at amortized cost, net of allowance for credit losses 19,056 0 19,056 Equity securities, at fair value 1,091 0 1,091 Commercial mortgage and other loans, net of allowance for credit losses 13,496 0 13,496 Other investments 4,070 0 4,070 Cash and cash equivalents 3,943 0 3,943 Total investments and cash 117,397 0 117,397 Receivables 647 0 647 Accrued investment income 745 0 745 Deferred policy acquisition costs (1) 8,593 646 9,239 Property and equipment 530 0 530 Other (2) 3,105 75 3,180 Total assets $ 131,017 $ 721 $ 131,738 Liabilities and shareholders’ equity: Liabilities: Policy liabilities: Future policy benefits (3),(4),(5) $ 80,749 $ 7,492 $ 88,241 Unpaid policy claims (3),(6) 4,561 (4,360) 201 Unearned premiums 1,825 0 1,825 Other policyholders’ funds (6) 6,123 520 6,643 Total policy liabilities 93,258 3,652 96,910 Income taxes (7) 1,296 (598) 698 Payables for return of cash collateral on loaned securities 1,809 0 1,809 Notes payable and lease obligations 7,442 0 7,442 Other (4) 4,847 (108) 4,739 Total liabilities 108,652 2,946 111,598 Commitments and contingent liabilities Shareholders’ equity: Common stock 135 0 135 Additional paid-in capital 2,641 0 2,641 Retained earnings (8) 44,568 (201) 44,367 Accumulated other comprehensive income (loss): Unrealized foreign currency translation gains (losses) (9) (3,640) 76 (3,564) Unrealized gains (losses) on fixed maturity securities (702) 0 (702) Unrealized gains (losses) on derivatives (27) 0 (27) Effect of changes in discount rate assumptions (10) 0 (2,100) (2,100) Pension liability adjustment (36) 0 (36) Treasury stock (20,574) 0 (20,574) Total shareholders’ equity 22,365 (2,225) 20,140 Total liabilities and shareholders’ equity $ 131,017 $ 721 $ 131,738 (1) Adjustment reflects an increase in DAC assets as a result of DAC being amortized over the expected life of a contract and no interest accretion recorded under the updated standard. (2) Adjustment reflects the discounting of reinsurance recoverables under the updated standard. (3) Adjustment for the reclassification of unpaid policy claims for long-duration contracts to future policy benefits as a component of the integrated reserve. (4) Adjustment for the reclassification of accrued claim adjustment expenses from other liabilities to future policy benefits as a component of the integrated reserve. (5) Adjustment reflects the impacts of adopting the standard and post-adoption impacts including calculating benefit reserves using revised net premium ratios and an increase in the deferred profit liability on limited-payment products (6) Adjustment for the reclassification of the claims liability for certain fixed annuity benefits from unpaid policy claims to other policyholders' funds. (7) Adjustment reflects the tax effects from adoption and post-adoption activity under the updated standard. (8) Adjustment reflects the cumulative impact from adoption and post-adoption activity under the updated standard, including the increase in 2022 net earnings of $217. (9) Adjustment reflects foreign currency translation related to the updated standard, as applicable. (10) Adjustment reflects the cumulative impact from adoption and post-adoption activity under the updated standard, including an increase of $13,732 in 2022 due to changes in the discount rate assumptions. Consolidated Balance Sheet December 31, 2021 (In millions) As Adoption As Assets: Investments and cash: Fixed maturity securities available for sale, at fair value $ 94,206 $ 0 $ 94,206 Fixed maturity securities available for sale - consolidated variable interest entities, at fair value 4,490 0 4,490 Fixed maturity securities held to maturity, at amortized cost, net of allowance for credit losses 22,000 0 22,000 Equity securities, at fair value 1,603 0 1,603 Commercial mortgage and other loans, net of allowance for credit losses 11,786 0 11,786 Other investments 3,842 0 3,842 Cash and cash equivalents 5,051 0 5,051 Total investments and cash 142,978 0 142,978 Receivables 672 0 672 Accrued investment income 737 0 737 Deferred policy acquisition costs (1) 9,525 323 9,848 Property and equipment 538 0 538 Other (2) 3,092 285 3,377 Total assets $ 157,542 $ 608 $ 158,150 Liabilities and shareholders’ equity: Liabilities: Policy liabilities: Future policy benefits (3),(4),(5) $ 90,588 $ 25,376 $ 115,964 Unpaid policy claims (3),(6) 4,836 (4,685) 151 Unearned premiums 2,576 0 2,576 Other policyholders’ funds (6) 7,072 568 7,640 Total policy liabilities 105,072 21,259 126,331 Income taxes (7) 4,339 (4,309) 30 Payables for return of cash collateral on loaned securities 2,162 0 2,162 Notes payable and lease obligations 7,956 0 7,956 Other (4) 4,760 (120) 4,640 Total liabilities 124,289 16,830 141,119 Commitments and contingent liabilities Shareholders’ equity: Common stock 135 0 135 Additional paid-in capital 2,529 0 2,529 Retained earnings (8) 41,381 (418) 40,963 Accumulated other comprehensive income (loss): Unrealized foreign currency translation gains (losses) (9) (2,013) 28 (1,985) Unrealized gains (losses) on fixed maturity securities 9,602 0 9,602 Unrealized gains (losses) on derivatives (30) 0 (30) Effect of changes in discount rate assumptions (10) 0 (15,832) (15,832) Pension liability adjustment (166) 0 (166) Treasury stock (18,185) 0 (18,185) Total shareholders’ equity 33,253 (16,222) 17,031 Total liabilities and shareholders’ equity $ 157,542 $ 608 $ 158,150 (1) Adjustment reflects an increase in DAC assets as a result of DAC being amortized over the expected life of a contract and no interest accretion recorded under the updated standard. (2) Adjustment reflects the discounting of reinsurance recoverables under the updated standard. (3) Adjustment for the reclassification of unpaid policy claims for long-duration contracts to future policy benefits as a component of the integrated reserve. (4) Adjustment for the reclassification of accrued claim adjustment expenses from other liabilities to future policy benefits as a component of the integrated reserve. (5) Adjustment reflects the impacts of adopting the standard and post-adoption impacts including calculating benefit reserves using revised net premium ratios and an increase in the deferred profit liability on limited-payment products (6) Adjustment for the reclassification of the claims liability for certain fixed annuity benefits from unpaid policy claims to other policyholders' funds. (7) Adjustment reflects the tax effects from adoption and post-adoption activity under the updated standard. (8) Adjustment reflects the impacts from adoption of ($324) as a result of capping the net premium ratio at 100% for cohorts that are in a loss position at transition and post-adoption activity under the updated standard, including the decrease in 2021 net earnings of $(94). (9) Adjustment reflects foreign currency translation related to the updated standard, as applicable. (10) Adjustment reflects the impacts from adoption of ($18,570) and post-adoption activity under the updated standard, including $2,738 in 2021 due to changes in the discount rate assumptions.

BUSINESS SEGMENT AND FOREIGN _2

BUSINESS SEGMENT AND FOREIGN INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Reconciliation of Revenue from Segments to Consolidated	Information regarding operations by reportable segment and Corporate and other for the years ended December 31 follows: (In millions) 2022 2021 2020 Revenues: Aflac Japan: Net earned premiums: Cancer $ 4,791 $ 5,829 $ 6,119 Medical and other health 2,775 3,400 3,596 Life insurance 1,982 2,624 2,955 Adjusted net investment income (1),(2) 2,669 3,031 2,659 Other income 35 41 42 Total adjusted revenue Aflac Japan 12,252 14,925 15,371 Aflac U.S.: Net earned premiums: Accident 1,314 1,362 1,449 Disability 1,171 1,162 1,165 Critical care 1,753 1,797 1,856 Hospital indemnity 722 730 747 Dental/vision 199 188 196 Life insurance 372 332 298 Other 39 43 47 Adjusted net investment income (3) 755 754 705 Other income 161 121 102 Total adjusted revenue Aflac U.S. 6,486 6,489 6,565 Corporate and other (4), (5) 267 175 384 Total adjusted revenues 19,005 21,589 22,320 Net investment gains (losses) (1),(2),(3),(4) 497 517 (173) Total revenues $ 19,502 $ 22,106 $ 22,147 (1) Amortized hedge costs of $112, $76 and $206 in 2022, 2021 and 2020, respectively, related to certain foreign currency exposure management strategies have been reclassified from net investment gains (losses) and reported as a deduction from net investment income when analyzing operations. (2) Net interest cash flows from derivatives associated with certain investment strategies of $(86), $(33) and $9 in 2022, 2021 and 2020, respectively, have been reclassified from net investment gains (losses) and included in adjusted earnings as a component of net investment income when analyzing operations. (3) Net interest cash flows from derivatives associated with certain investment strategies of $(4), $2 and $3 in 2022, 2021 and 2020, respectively, have been reclassified from net investment gains (losses) and included in adjusted earnings as a component of net investment income when analyzing operations. (4) Amortized hedge income of $68, $57 and $97 in 2022, 2021 and 2020, respectively, related to certain foreign currency exposure management strategies has been reclassified from net investment gains (losses) and reported as an increase to net investment income when analyzing operations. (5) The change in value of federal historic rehabilitation and solar investments in partnerships of $91 and $138 in 2022 and 2021, respectively, is included as a reduction to net investment income. Tax credits on these investments of $83 and $115 in 2022 and 2021, respectively, have been recorded as an income tax benefit in the consolidated statement of earnings. See Note 3 of the Notes to the Consolidated Financial Statements for additional information on these investments.
Reconciliation of Adjusted Profit (Loss) from Segments to Consolidated	(In millions) 2022 2021 2020 Pretax earnings: Aflac Japan (1),(2) $ 3,056 $ 3,754 $ 3,263 Aflac U.S. (3) 1,324 1,478 1,268 Corporate and other (4),(5),(6) (223) (298) (115) Pretax adjusted earnings (7) 4,157 4,934 4,416 Net investment gains (losses) (1),(2),(3),(4),(5) 447 462 (229) Other income (loss) 0 (74) (28) Total earnings before income taxes $ 4,604 $ 5,322 $ 4,159 Income taxes applicable to pretax adjusted earnings $ 760 $ 915 $ 864 Effect of foreign currency translation on after-tax (215) (38) 31 (1) Amortized hedge costs of $112, $76 and $206 in 2022, 2021 and 2020, respectively, related to certain foreign currency exposure management strategies have been reclassified from net investment gains (losses) and reported as a deduction from net investment income when analyzing operations. (2) Net interest cash flows from derivatives associated with certain investment strategies of $(86), $(33) and $9 in 2022, 2021 and 2020, respectively, have been reclassified from net investment gains (losses) and included in adjusted earnings as a component of net investment income when analyzing operations. (3) Net interest cash flows from derivatives associated with certain investment strategies of $(4), $2 and $3 in 2022, 2021 and 2020, respectively, have been reclassified from net investment gains (losses) and included in adjusted earnings as a component of net investment income when analyzing operations. (4) Amortized hedge income of $68, $57 and $97 in 2022, 2021 and 2020, respectively, related to certain foreign currency exposure management strategies has been reclassified from net investment gains (losses) and reported as an increase to net investment income when analyzing operations. (5) A gain of $50, $55 and $56 in 2022, 2021 and 2020, respectively, related to the interest rate component of the change in fair value of foreign currency swaps on notes payable has been reclassified from net investment gains (losses) and included in adjusted earnings when analyzing operations. (6) The change in value of federal historic rehabilitation and solar investments in partnerships of $91 and $138 in 2022 and 2021, respectively, is included as a reduction to net investment income. Tax credits on these investments of $83 and $115 in 2022 and 2021, respectively, have been recorded as an income tax benefit in the consolidated statement of earnings. See Note 3 of the Notes to the Consolidated Financial Statements for additional information on these investments. (7) Includes $167, $170 and $167 of interest expense on debt in 2022, 2021 and 2020, respectively.
Reconciliation of Assets from Segment to Consolidated	Assets as of December 31 were as follows: (In millions) 2022 2021 Assets: Aflac Japan $ 105,173 $ 128,536 Aflac U.S. 20,779 23,106 Corporate and other 5,065 5,900 Total assets $ 131,017 $ 157,542
Foreign Currency Disclosure	Yen-Translation Effects:  The following table shows the yen/dollar exchange rates used for or during the periods ended December 31. Exchange effects were calculated using the same yen/dollar exchange rate for the current year as for each respective prior year. 2022 2021 2020 Statements of Earnings: Weighted-average yen/dollar exchange rate (1) 130.17 109.79 106.86 Yen percent strengthening (weakening) (15.7) % (2.7) % 2.1 % Exchange effect on pretax adjusted earnings (in millions) $ (263) $ (47) $ 38 2022 2021 Balance Sheets: Yen/dollar exchange rate at December 31 (1) 132.70 115.02 Yen percent strengthening (weakening) (13.3) % (10.0) % Exchange effect on total assets (in millions) $ (10,936) $ (9,635) Exchange effect on total liabilities (in millions) (9,589) (7,566) (1) Rates are based on the published MUFG Bank, Ltd. telegraphic transfer middle rate (TTM)
Schedule of Intercompany Transfers of Funds	Information on transfers for each of the years ended December 31 is shown below. See Note 13 for information concerning restrictions on transfers from Aflac Japan. (In millions) 2022 2021 2020 Management fees $ 61 $ 59 $ 71 Profit remittances 2,412 2,138 1,215 Total transfers from Aflac Japan $ 2,473 $ 2,197 $ 1,286
Property, Plant and Equipment	Classes of property and equipment as of December 31 were as follows: (In millions) 2022 2021 Property and equipment: Land $ 168 $ 168 Buildings 437 491 Equipment and furniture 587 542 Total property and equipment 1,192 1,201 Less accumulated depreciation 662 663 Net property and equipment $ 530 $ 538

INVESTMENTS (Tables)

INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2022
Schedule Of Net Investment Income	The components of net investment income for the years ended December 31 were as follows: (In millions) 2022 2021 2020 Fixed maturity securities $ 2,926 $ 3,068 $ 3,113 Equity securities 31 35 29 Commercial mortgage and other loans 716 570 545 Other investments (1) 131 356 145 Short-term investments and cash equivalents 78 7 18 Gross investment income 3,882 4,036 3,850 Less investment expenses 226 218 212 Net investment income $ 3,656 $ 3,818 $ 3,638
Available-for-Sale Debt Securities	The amortized cost for the Company's investments in fixed maturity securities, the cost for equity securities and the fair values of these investments at December 31 are shown in the following tables. 2022 (In millions) Amortized Allowance for Credit Losses Gross Gross Fair Securities available for sale, carried at fair Fixed maturity securities: Yen-denominated: Japan government and agencies $ 25,418 $ 0 $ 1,259 $ 1,724 $ 24,953 Municipalities 1,034 0 124 61 1,097 Mortgage- and asset-backed securities 241 0 8 12 237 Public utilities 3,932 0 301 108 4,125 Sovereign and supranational 659 0 24 5 678 Banks/financial institutions 6,348 0 324 531 6,141 Other corporate 6,288 0 555 408 6,435 Total yen-denominated 43,920 0 2,595 2,849 43,666 U.S. dollar-denominated: U.S. government and agencies 169 0 0 8 161 Municipalities 1,269 0 43 89 1,223 Mortgage- and asset-backed securities 1,926 0 67 84 1,909 Public utilities 3,481 0 240 180 3,541 Sovereign and supranational 133 0 35 12 156 Banks/financial institutions 2,992 0 271 105 3,158 Other corporate 21,579 0 1,549 1,201 21,927 Total U.S. dollar-denominated 31,549 0 2,205 1,679 32,075 Total securities available for sale $ 75,469 $ 0 $ 4,800 $ 4,528 $ 75,741 2021 (In millions) Amortized Allowance for Credit Losses Gross Gross Fair Securities available for sale, carried at fair value Fixed maturity securities: Yen-denominated: Japan government and agencies $ 30,335 $ 0 $ 3,343 $ 61 $ 33,617 Municipalities 1,192 0 322 5 1,509 Mortgage- and asset-backed securities 300 0 19 1 318 Public utilities 4,462 0 906 2 5,366 Sovereign and supranational 760 0 82 0 842 Banks/financial institutions 6,963 0 787 72 7,678 Other corporate 7,148 0 1,535 26 8,657 Total yen-denominated 51,160 0 6,994 167 57,987 U.S. dollar-denominated: U.S. government and agencies 196 0 8 1 203 Municipalities 1,340 0 189 2 1,527 Mortgage- and asset-backed securities 897 0 33 2 928 Public utilities 3,781 0 909 5 4,685 Sovereign and supranational 222 0 57 6 273 Banks/financial institutions 3,169 0 747 3 3,913 Other corporate 24,604 0 4,629 53 29,180 Total U.S. dollar-denominated 34,209 0 6,572 72 40,709 Total securities available for sale $ 85,369 $ 0 $ 13,566 $ 239 $ 98,696
Held-to-Maturity Securities	2022 (In millions) Amortized Allowance for Credit Losses Net Carrying Amount Gross Gross Fair Securities held to maturity, carried at Fixed maturity securities: Yen-denominated: Japan government and agencies $ 18,269 $ 2 $ 18,267 $ 2,045 $ 0 $ 20,312 Municipalities 287 0 287 48 0 335 Public utilities 38 1 37 4 0 41 Sovereign and supranational 450 4 446 54 0 500 Other corporate 19 0 19 3 0 22 Total yen-denominated 19,063 7 19,056 2,154 0 21,210 Total securities held to maturity $ 19,063 $ 7 $ 19,056 $ 2,154 $ 0 $ 21,210 2021 (In millions) Amortized Allowance for Credit Losses Net Carrying Amount Gross Gross Fair Securities held to maturity, carried at Fixed maturity securities: Yen-denominated: Japan government and agencies $ 21,089 $ 3 $ 21,086 $ 4,613 $ 0 $ 25,699 Municipalities 335 0 335 101 0 436 Public utilities 44 1 43 12 0 55 Sovereign and supranational 518 4 514 136 0 650 Other corporate 22 0 22 7 0 29 Total yen-denominated 22,008 8 22,000 4,869 0 26,869 Total securities held to maturity $ 22,008 $ 8 $ 22,000 $ 4,869 $ 0 $ 26,869
Equity Securities, FV-NI	2022 2021 (In millions) Fair Value Fair Value Equity securities, carried at fair value through net earnings: Equity securities: Yen-denominated $ 670 $ 744 U.S. dollar-denominated 374 817 Other currencies 47 42 Total equity securities $ 1,091 $ 1,603
Investments Classified by Contractual Maturity Date	The contractual and economic maturities of the Company's investments in fixed maturity securities at December 31, 2022, were as follows: (In millions) Amortized Cost (1) Fair Available for sale: Due in one year or less $ 1,777 $ 1,894 Due after one year through five years 6,806 7,080 Due after five years through 10 years 15,467 16,498 Due after 10 years 49,252 48,123 Mortgage- and asset-backed securities 2,167 2,146 Total fixed maturity securities available for sale $ 75,469 $ 75,741 Held to maturity: Due in one year or less $ 0 $ 0 Due after one year through five years 40 42 Due after five years through 10 years 10,132 11,212 Due after 10 years 8,884 9,956 Mortgage- and asset-backed securities 0 0 Total fixed maturity securities held to maturity $ 19,056 $ 21,210
Investment Exposures Exceeding 10 Percent Shareholders Equity	Investment exposures that individually exceeded 10% of shareholders' equity as of December 31 were as follows: 2022 2021 (In millions) Credit Amortized Fair Credit Amortized Fair Japan National Government (1) A+ $42,618 $44,178 A+ $50,186 $57,862 (1) Japan Government Bonds (JGBs) or JGB-backed securities
Gain (Loss) on Investments	Information regarding pretax net gains and losses from investments for the years ended December 31 follows: (In millions) 2022 2021 2020 Net investment gains (losses): Sales and redemptions: Fixed maturity securities available for sale: Gross gains from sales $ 93 $ 64 $ 31 Gross losses from sales (78) (52) (47) Foreign currency gains (losses) 442 1 (69) Other investments: Gross gains from sales 10 0 0 Total sales and redemptions 467 13 (85) Equity securities (341) 164 184 Credit losses: Fixed maturity securities available for sale 0 38 (38) Fixed maturity securities held to maturity 0 1 1 Commercial mortgage and other loans (18) 6 (93) Impairment losses (25) (20) (49) Loan commitments 9 4 (21) Reinsurance recoverables and other (2) (2) 0 Total credit losses (36) 27 (200) Derivatives and other: Derivative gains (losses) (1,151) (805) 399 Foreign currency gains (losses) 1,424 1,069 (568) Total derivatives and other 273 264 (169) Total net investment gains (losses) $ 363 $ 468 $ (270)
Unrealized Gain (Loss) on Investments	Information regarding changes in unrealized gains and losses from investments recorded in AOCI for the years ended December 31 follows: (In millions) 2022 2021 2020 Changes in unrealized gains (losses): Fixed maturity securities, available for sale $ (13,056) $ (960) $ 2,399 Total change in unrealized gains (losses) $ (13,056) $ (960) $ 2,399
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 fixed maturity securities at December 31 was as follows: (In millions) 2022 2021 Unrealized gains (losses) on securities available for sale $ 272 $ 13,330 Deferred income taxes (974) (3,728) Shareholders’ equity, unrealized gains (losses) on fixed maturity securities $ (702) $ 9,602
Investments Gross Unrealized Loss Aging	The following tables show the fair values and gross unrealized losses of the Company's available-for-sale investments, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31. 2022 Total Less than 12 months 12 months or longer (In millions) Fair Unrealized Fair Unrealized Fair Unrealized Fixed maturity securities available U.S. government and U.S. dollar-denominated $ 159 $ 8 $ 85 $ 3 $ 74 $ 5 Japan government and Yen-denominated 8,856 1,724 3,733 580 5,123 1,144 Municipalities: U.S. dollar-denominated 854 89 735 57 119 32 Yen-denominated 286 61 150 26 136 35 Mortgage- and asset- U.S. dollar-denominated 936 84 640 42 296 42 Yen-denominated 62 12 38 6 24 6 Public utilities: U.S. dollar-denominated 1,852 180 1,667 144 185 36 Yen-denominated 880 108 576 61 304 47 Sovereign and supranational: U.S. dollar-denominated 30 12 0 0 30 12 Yen-denominated 71 5 34 4 37 1 Banks/financial institutions: U.S. dollar-denominated 1,147 105 786 58 361 47 Yen-denominated 3,957 531 1,760 174 2,197 357 Other corporate: U.S. dollar-denominated 10,529 1,201 8,636 785 1,893 416 Yen-denominated 2,090 408 1,507 273 583 135 Total $ 31,709 $ 4,528 $ 20,347 $ 2,213 $ 11,362 $ 2,315 2021 Total Less than 12 months 12 months or longer (In millions) Fair Unrealized Fair Unrealized Fair Unrealized Fixed maturity securities available U.S. government and U.S. dollar-denominated $ 1 $ 1 $ 0 $ 1 $ 1 $ 0 Japan government and Yen-denominated 2,868 61 445 3 2,423 58 Municipalities: U.S. dollar-denominated 82 2 79 2 3 0 Yen-denominated 187 5 53 0 134 5 Mortgage- and asset- U.S. dollar-denominated 278 2 278 2 0 0 Yen-denominated 33 1 0 0 33 1 Public utilities: U.S. dollar-denominated 130 5 70 2 60 3 Yen-denominated 26 2 0 0 26 2 Sovereign and supranational: U.S. dollar-denominated 37 6 6 1 31 5 Banks/financial institutions: U.S. dollar-denominated 292 3 274 3 18 0 Yen-denominated 2,074 72 1,011 16 1,063 56 Other corporate: U.S. dollar-denominated 1,365 53 458 8 907 45 Yen-denominated 541 26 274 4 267 22 Total $ 7,914 $ 239 $ 2,948 $ 42 $ 4,966 $ 197
Commercial Mortgage and Other Loans by Property Type	The following table reflects the composition of the carrying value for commercial mortgage and other loans by property type as of December 31. (In millions) 2022 2021 Amortized Cost % of Total Amortized Cost % of Total Commercial Mortgage and other loans Transitional real estate loans: Office $ 2,158 15.8 % $ 2,001 16.7 % Retail 493 3.6 267 2.2 Apartments/Multi-Family 2,701 19.7 1,893 15.8 Industrial 123 .9 94 .8 Hospitality 803 5.9 876 7.3 Other 231 1.7 228 1.9 Total transitional real estate loans 6,509 47.6 5,359 44.7 Commercial mortgage loans: Office 388 2.8 398 3.3 Retail 310 2.3 332 2.8 Apartments/Multi-Family 630 4.6 649 5.4 Industrial 694 5.1 525 4.4 Total commercial mortgage loans 2,022 14.8 1,904 15.9 Middle market loans 5,157 37.6 4,697 39.4 Total commercial mortgage and other loans $ 13,688 100.0 % $ 11,960 100.0 % Allowance for credit losses (192) (174) Total net commercial mortgage and other loans $ 13,496 $ 11,786
Financing Receivable, Allowance for Credit Loss	The following table presents the roll forward of the allowance for credit losses by portfolio segment for the years ended December 31 . (In millions) Transitional Real Estate Loans Commercial Mortgage Loans Middle Market Loans Held to Maturity Securities Available for Sale Securities Reinsurance Recoverables Balance at December 31, 2019 (1) $ (22) $ (3) $ (20) $ 0 $ 0 $ 0 Transition impact to retained earnings (2) (8) (33) (10) 0 (11) (Addition to) release of allowance for credit (39) (21) (41) 0 (75) (1) Write-offs, net of recoveries 0 0 9 0 37 0 Balance at December 31, 2020 (63) (32) (85) (10) (38) (12) (Addition to) release of allowance for credit (5) 22 (11) 1 26 (2) Write-offs, net of recoveries 0 0 0 0 12 0 Change in foreign exchange 0 0 0 1 0 1 Balance at December 31, 2021 (68) (10) (96) (8) 0 (13) (Addition to) release of allowance for credit 14 1 (39) 0 0 2 Write-offs, net of recoveries 0 0 6 0 0 0 Change in foreign exchange 0 0 0 1 0 3 Balance at December 31, 2022 $ (54) $ (9) $ (129) $ (7) $ 0 $ (8) (1) U.S. GAAP guidance adopted as of January 1, 2020 has superseded these losses, included for comparative purposes only.
Other Investments	The table below reflects the composition of the carrying value for other investments as of December 31. (In millions) 2022 2021 Other investments: Policy loans $ 214 $ 236 Short-term investments (1) 1,532 1,726 Limited partnerships 2,290 1,858 Other 34 22 Total other investments $ 4,070 $ 3,842
Securities Lending Transactions Accounted for as Secured Borrowings	Details of collateral by loaned security type and remaining maturity of the agreements as of December 31 were as follows: Securities Lending Transactions Accounted for as Secured Borrowings Remaining Contractual Maturity of the Agreements 2022 2021 (In millions) Overnight (1) Up to 30 Total Overnight (1) Up to 30 Total Securities lending transactions: Fixed maturity securities: Japan government and $ 0 $ 1,087 $ 1,087 $ 0 $ 920 $ 920 Public utilities 12 0 12 40 0 40 Sovereign and supranational 0 0 0 2 0 2 Banks/financial institutions 89 0 89 88 0 88 Other corporate 621 0 621 1,112 0 1,112 Total borrowings $ 722 $ 1,087 $ 1,809 $ 1,242 $ 920 $ 2,162 Gross amount of recognized liabilities for securities $ 1,809 $ 2,162 (1) The related loaned security, under the Company's U.S. securities lending program, can be returned to the Company at the transferee's discretion; therefore, they are classified as Overnight and Continuous.
Variable Interest Entity, Consolidated
Investments in Variable Interest Entities	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 as of December 31. Investments in Consolidated Variable Interest Entities 2022 2021 (In millions) Amortized Cost (1) Fair Amortized Cost (1) Fair Assets: Fixed maturity securities, available for sale $ 3,223 $ 3,805 $ 3,264 $ 4,490 Commercial mortgage and other loans 10,832 10,762 9,740 9,910 Other investments (2) 1,909 1,909 1,535 1,535 Other assets (3) 62 62 78 78 Total assets of consolidated VIEs $ 16,026 $ 16,538 $ 14,617 $ 16,013 Liabilities: Other liabilities (3) $ 390 $ 390 $ 414 $ 414 Total liabilities of consolidated VIEs $ 390 $ 390 $ 414 $ 414 (1) Net of allowance for credit losses (2) Consists entirely of alternative investments in limited partnerships (3) Consists entirely of derivatives
Variable Interest Entity, Not Consolidated
Investments in Variable Interest Entities	The table below reflects the amortized cost, fair value and balance sheet caption in which the Company's investment in VIEs not consolidated are reported as of December 31. Investments in Variable Interest Entities Not Consolidated 2022 2021 (In millions) Amortized Fair Amortized Fair Assets: Fixed maturity securities, available for sale $ 3,998 $ 4,259 $ 4,779 $ 5,864 Other investments (1) 381 381 323 323 Total investments in VIEs not consolidated $ 4,379 $ 4,640 $ 5,102 $ 6,187 (1) Consists entirely of alternative investments in limited partnerships
Transitional real estate loans
Financing Receivable Credit Quality Indicators	The following tables present as of December 31, 2022 the amortized cost basis of TREs, CMLs and MMLs by year of origination and credit quality indicator . Transitional Real Estate Loans (In millions) 2022 2021 2020 2019 2018 Prior Total Loan-to-Value Ratio: 0%-59.99% $ 532 $ 596 $ 36 $ 153 $ 61 $ 0 $ 1,378 60%-69.99% 679 769 138 485 425 50 2,546 70%-79.99% 787 940 97 389 146 1 2,360 80% or greater 64 161 0 0 0 0 225 Total $ 2,062 $ 2,466 $ 271 $ 1,027 $ 632 $ 51 $ 6,509
Commercial mortgage loans
Financing Receivable Credit Quality Indicators	Commercial Mortgage Loans (In millions) 2022 2021 2020 2019 2018 Prior Total Weighted-Average DSCR Loan-to-Value Ratio: 0%-59.99% $ 228 $ 310 $ 46 $ 510 $ 151 $ 492 $ 1,737 2.16 60%-69.99% 0 15 0 46 0 135 196 2.03 70%-79.99% 0 0 0 40 0 24 64 2.21 80% or greater 0 0 0 0 0 25 25 1.41 Total $ 228 $ 325 $ 46 $ 596 $ 151 $ 676 $ 2,022 2.14 Weighted Average DSCR 0.00 2.83 1.92 2.50 2.02 2.26
Middle market loans
Financing Receivable Credit Quality Indicators	Middle Market Loans (In millions) 2022 2021 2020 2019 2018 Prior Revolving Loans Total Credit Ratings: BBB $ 63 $ 144 $ 70 $ 37 $ 19 $ 0 $ 133 $ 466 BB 333 451 300 203 80 44 362 1,773 B 252 678 411 483 240 218 311 2,593 CCC 0 15 20 85 59 78 53 310 CC 0 0 0 0 14 0 1 15 C and lower 0 0 0 0 0 0 0 0 Total $ 648 $ 1,288 $ 801 $ 808 $ 412 $ 340 $ 860 $ 5,157

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	2022 2021 (In millions) Asset Liability Asset Liability Hedge Designation/ Derivative Notional Fair Value Fair Value Notional Fair Value Fair Value Cash flow hedges: Foreign currency swaps - VIE $ 18 $ 0 $ 3 $ 18 $ 0 $ 2 Total cash flow hedges 18 0 3 18 0 2 Fair value hedges: Foreign currency forwards 0 0 0 62 0 5 Foreign currency options 7,940 45 0 8,829 5 0 Total fair value hedges 7,940 45 0 8,891 5 5 Net investment hedge: Foreign currency forwards 4,982 383 85 4,996 341 0 Foreign currency options 2,630 7 0 1,949 0 0 Total net investment hedge 7,612 390 85 6,945 341 0 Non-qualifying strategies: Foreign currency swaps 1,900 66 0 2,250 59 13 Foreign currency swaps - VIE 3,420 62 387 3,151 78 412 Foreign currency forwards 5,049 17 640 15,953 450 1,133 Foreign currency options 5,521 30 0 2,746 3 0 Interest rate swaps 17,730 7 583 3,500 0 54 Total non-qualifying strategies 33,620 182 1,610 27,600 590 1,612 Total derivatives $ 49,190 $ 617 $ 1,698 $ 43,454 $ 936 $ 1,619
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 for the years ended December 31. Fair Value Hedging Relationships (In millions) Hedging Derivatives Hedged Items Hedging Derivatives Hedged Items Total Gains (Losses) (1) Gains (Losses) (2) Gains (Losses) (2) Net Investment Gains (Losses) Recognized for Fair Value Hedge 2022: Foreign currency options Fixed maturity securities $ (18) $ (18) $ 0 $ 0 $ 0 Total gains (losses) $ (18) $ (18) $ 0 $ 0 $ 0 2021: Foreign currency forwards Fixed maturity securities $ (7) $ 0 $ (7) $ 6 $ (1) Foreign currency options Fixed maturity securities (26) (25) (1) 4 3 Total gains (losses) $ (33) $ (25) $ (8) $ 10 $ 2 2020: Foreign currency forwards Fixed maturity securities $ (14) $ (8) $ (6) $ 7 $ 1 Foreign currency options Fixed maturity securities (9) (8) (1) 1 0 Total gains (losses) $ (23) $ (16) $ (7) $ 8 $ 1 (1) Gains (losses) excluded from effectiveness testing includes the forward point on foreign currency forwards and time value change on foreign currency options which are reported in the consolidated statement of earnings as net investment gains (losses). It also includes the change in the fair value of the interest rate swaptions related to the time value of the swaptions which is recognized as a component of other comprehensive income (loss). (2) Gains and losses on foreign currency forwards and options and related hedged items are reported in the consolidated statement of earnings as net investment gains (losses). For interest rate swaptions and related hedged items, gains and losses included in the hedge assessment, premium amortization and time value amortization while the hedge items are still outstanding are reported within net investment income. The time value gains and losses for interest rate swaptions when the related hedged items are redeemed are reported in net investment gains and losses consistent with the impact of the hedged item. For the years ended December 31, 2022 and 2021, gains and losses included in the hedge assessment on interest rate swaptions and related hedged items were immaterial.
Schedule of Interest Rate Fair Value Hedges Hedged Items	The following table shows the carrying amounts of assets designated and qualifying as hedged items in fair value hedges of interest rate risk and the related cumulative hedge adjustment included in the carrying amount as of December 31. (In millions) Carrying Amount of the Hedged Assets/(Liabilities) (1) Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of Hedged Assets/(Liabilities) 2022 2021 2022 2021 Fixed maturity securities $ 2,360 $ 3,038 $ 189 $ 205 (1) The balance includes hedging adjustment on discontinued hedging relationships of $189 in 2022 and $205 in 2021.
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance	The following table summarizes the impact to earnings and other comprehensive income (loss) from all derivatives and hedging instruments for the years ended December 31. 2022 2021 2020 (In millions) Net Investment Income (1) Net Investment Other (2) Net Investment Income (1) Net Investment Other (2) Net Investment Income (1) Net Investment Other (2) Qualifying hedges: Cash flow hedges: Foreign currency swaps - VIE $ (1) $ (4) $ 4 $ (1) $ (4) $ 3 $ (1) $ 0 $ (2) Total cash flow hedges (1) (4) (3) 4 (1) (4) (3) 3 (1) 0 (3) (2) Fair value hedges: Foreign currency forwards (3) 0 (1) (7) Foreign currency options (3) (18) (22) (8) Interest rate swaptions (3) 0 0 0 (1) (1) 2 (1) 0 1 Total fair value hedges 0 (18) 0 (1) (24) 2 (1) (15) 1 Net investment hedge: Non-derivative hedging 0 371 0 328 0 (135) Foreign currency forwards (80) 673 29 525 149 (282) Foreign currency options (1) 0 (4) 0 (5) 0 Total net investment hedge (81) 1,044 25 853 144 (417) Non-qualifying strategies: Foreign currency swaps 159 135 29 Foreign currency swaps - VIE 9 (188) (122) Foreign currency forwards (650) (707) 311 Foreign currency options 0 (3) (3) Interest rate swaps (546) (38) 49 Interest rate swaptions 1 0 0 Forward bond purchase (21) (1) 6 Total non-qualifying strategies (1,048) (802) 270 Total $ (1) $ (1,151) $ 1,048 $ (2) $ (805) $ 858 $ (2) $ 399 $ (418) (1) Interest expense/income on cash flow hedges are recorded in net investment income. For interest rate swaptions classified as fair value hedges, the change in the time value of the swaptions is recognized in other comprehensive income (loss) and amortized into net investment income over its legal term. If the swaption is early terminated but the hedge item is still outstanding, the amortization of disposal amount of the swaptions is recorded in net investment income over the remaining life of the hedged items. (2) Gains and losses on cash flow hedges and the change in the fair value of interest rate swaptions related to the time value of the swaptions in fair value hedges are recorded as unrealized gains (losses). Gains and losses on net investment hedges related to changes in foreign currency spot rates are recorded in the unrealized foreign currency translation gains (losses) line in the consolidated statement of comprehensive income (loss). (3) Impact of cash flow hedges reported as net investment gains (losses) includes $4 of losses reclassified from accumulated other comprehensive income (loss) into earnings during the year ended December 31, 2022, compared with $4 of losses and an immaterial amount during the years ended December 31, 2021 and 2020, respectively. In addition, $1 of losses were reclassified from accumulated other comprehensive income (loss) into earnings during the year ended December 31, 2022, compared with $2 of losses and an immaterial amount during the years ended December 31, 2021 and 2020, respectively, related to fair value hedges excluded component. Impact shown net of effect of hedged items (see Fair Value Hedges section of this Note 4 for further detail).
Offsetting Assets	Offsetting of Financial Assets and Derivative Assets 2022 Gross Amounts Not Offset (In millions) Gross Amount of Recognized Assets Gross Amount Offset in Balance Sheet Net Amount of Assets Presented Financial Instruments Securities Cash Collateral Received Net Derivative Derivative assets subject to a master netting agreement or offsetting arrangement OTC - bilateral $ 548 $ 0 $ 548 $ (167) $ (60) $ (320) $ 1 OTC - cleared 7 0 7 (7) 0 0 0 Total derivative 555 0 555 (174) (60) (320) 1 Derivative assets not subject to a master netting agreement or offsetting arrangement OTC - bilateral 62 62 62 Total derivative 62 62 62 Total derivative 617 0 617 (174) (60) (320) 63 Securities lending 1,788 0 1,788 0 0 (1,788) 0 Total $ 2,405 $ 0 $ 2,405 $ (174) $ (60) $ (2,108) $ 63 2021 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 Financial Securities Collateral Cash Collateral Received Net Derivative Derivative assets subject to a master netting agreement or offsetting arrangement OTC - bilateral $ 858 $ 0 $ 858 $ (471) $ (53) $ (334) $ 0 Total derivative 858 0 858 (471) (53) (334) 0 Derivative assets not subject to a master netting agreement or offsetting arrangement OTC - bilateral 78 78 78 Total derivative 78 78 78 Total derivative 936 0 936 (471) (53) (334) 78 Securities lending 2,124 0 2,124 0 0 (2,124) 0 Total $ 3,060 $ 0 $ 3,060 $ (471) $ (53) $ (2,458) $ 78
Offsetting Liabilities	Offsetting of Financial Liabilities and Derivative Liabilities 2022 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 Financial Instruments Securities Collateral Cash Collateral Pledged Net Derivative Derivative liabilities subject to a master netting agreement or offsetting arrangement OTC - bilateral $ 725 $ 0 $ 725 $ (167) $ (506) $ (52) $ 0 OTC - cleared 583 0 583 (7) 0 (577) (1) Total derivative 1,308 0 1,308 (174) (506) (629) (1) Derivative liabilities not subject to a master netting agreement or offsetting arrangement OTC - bilateral 390 390 390 Total derivative 390 390 390 Total derivative 1,698 0 1,698 (174) (506) (629) 389 Securities lending 1,809 0 1,809 (1,788) 0 0 21 Total $ 3,507 $ 0 $ 3,507 $ (1,962) $ (506) $ (629) $ 410 2021 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 Financial Instruments Securities Collateral Cash Collateral Pledged Net Derivative Derivative liabilities subject to a master netting agreement or offsetting arrangement OTC - bilateral $ 1,151 $ 0 $ 1,151 $ (471) $ (662) $ (14) $ 4 OTC - cleared 54 0 54 0 0 (35) 19 Total derivative 1,205 0 1,205 (471) (662) (49) 23 Derivative liabilities not subject to a master netting agreement or offsetting arrangement OTC - bilateral 414 414 414 Total derivative 414 414 414 Total derivative 1,619 0 1,619 (471) (662) (49) 437 Securities lending 2,162 0 2,162 (2,124) 0 0 38 Total $ 3,781 $ 0 $ 3,781 $ (2,595) $ (662) $ (49) $ 475

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2022
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 as of December 31. 2022 (In millions) Quoted Prices in Significant Significant Total Assets: Securities available for sale, carried at Fixed maturity securities: Government and agencies $ 24,158 $ 956 $ 0 $ 25,114 Municipalities 0 2,320 0 2,320 Mortgage- and asset-backed securities 0 1,803 343 2,146 Public utilities 0 7,169 497 7,666 Sovereign and supranational 0 797 37 834 Banks/financial institutions 0 9,140 159 9,299 Other corporate 0 27,620 742 28,362 Total fixed maturity securities 24,158 49,805 1,778 75,741 Equity securities 822 60 209 1,091 Other investments 1,532 0 0 1,532 Cash and cash equivalents 3,943 0 0 3,943 Other assets: Foreign currency swaps 0 128 0 128 Foreign currency forwards 0 400 0 400 Foreign currency options 0 82 0 82 Interest rate swaps 0 7 0 7 Total other assets 0 617 0 617 Total assets $ 30,455 $ 50,482 $ 1,987 $ 82,924 Liabilities: Other liabilities: Foreign currency swaps $ 0 $ 390 $ 0 $ 390 Foreign currency forwards 0 725 0 725 Interest rate swaps 0 583 0 583 Total liabilities $ 0 $ 1,698 $ 0 $ 1,698 2021 (In millions) Quoted Prices in Significant Significant Total Assets: Securities available for sale, carried at Fixed maturity securities: Government and agencies $ 32,532 $ 1,288 $ 0 $ 33,820 Municipalities 0 3,036 0 3,036 Mortgage- and asset-backed securities 0 955 291 1,246 Public utilities 0 9,558 493 10,051 Sovereign and supranational 0 1,072 43 1,115 Banks/financial institutions 0 11,546 45 11,591 Other corporate 0 37,411 426 37,837 Total fixed maturity securities 32,532 64,866 1,298 98,696 Equity securities 1,340 90 173 1,603 Other investments 1,726 0 0 1,726 Cash and cash equivalents 5,051 0 0 5,051 Other assets: Foreign currency swaps 0 137 0 137 Foreign currency forwards 0 791 0 791 Foreign currency options 0 8 0 8 Total other assets 0 936 0 936 Total assets $ 40,649 $ 65,892 $ 1,471 $ 108,012 Liabilities: Other liabilities: Foreign currency swaps $ 0 $ 427 $ 0 $ 427 Foreign currency forwards 0 1,138 0 1,138 Interest rate swaps 0 54 0 54 Total liabilities $ 0 $ 1,619 $ 0 $ 1,619
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 as of December 31. 2022 (In millions) Carrying Quoted Prices in Significant Significant Total Assets: Securities held to maturity, Fixed maturity securities: Government and agencies $ 18,267 $ 20,132 $ 180 $ 0 $ 20,312 Municipalities 287 0 335 0 335 Public utilities 37 0 41 0 41 Sovereign and 446 0 500 0 500 Other corporate 19 0 22 0 22 Commercial mortgage and 13,496 0 0 13,212 13,212 Other investments (1) 34 0 34 0 34 Total assets $ 32,586 $ 20,132 $ 1,112 $ 13,212 $ 34,456 Liabilities: Other policyholders’ funds $ 6,123 $ 0 $ 0 $ 6,022 $ 6,022 Notes payable 7,295 0 6,024 802 6,826 Total liabilities $ 13,418 $ 0 $ 6,024 $ 6,824 $ 12,848 (1) Excludes policy loans of $214 and equity method investments of $2,290 at carrying value 2021 (In millions) Carrying Quoted Prices in Significant Significant Total Assets: Securities held to maturity, Fixed maturity securities: Government and agencies $ 21,086 $ 25,469 $ 230 $ 0 $ 25,699 Municipalities 335 0 436 0 436 Public utilities 43 0 55 0 55 Sovereign and 514 0 650 0 650 Other corporate 22 0 29 0 29 Commercial mortgage and 11,786 0 0 11,996 11,996 Other investments (1) 22 0 22 0 22 Total assets $ 33,808 $ 25,469 $ 1,422 $ 11,996 $ 38,887 Liabilities: Other policyholders’ funds $ 7,072 $ 0 $ 0 $ 6,957 $ 6,957 Notes payable 7,839 0 8,280 259 8,539 Total liabilities $ 14,911 $ 0 $ 8,280 $ 7,216 $ 15,496 (1)
Fair Value Assets Securities Carried At Fair Value Primary Pricing Sources	The following tables present the pricing sources for the fair values of the Company's fixed maturity and equity securities as of December 31. 2022 (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 maturity securities: Government and agencies: Third party pricing vendor $ 24,158 $ 582 $ 0 $ 24,740 Internal 0 374 0 374 Total government and agencies 24,158 956 0 25,114 Municipalities: Third party pricing vendor 0 2,021 0 2,021 Internal 0 299 0 299 Total municipalities 0 2,320 0 2,320 Mortgage- and asset-backed securities: Third party pricing vendor 0 1,798 0 1,798 Internal 0 3 0 3 Broker/other 0 2 343 345 Total mortgage- and asset-backed securities 0 1,803 343 2,146 Public utilities: Third party pricing vendor 0 3,786 0 3,786 Internal 0 3,383 0 3,383 Broker/other 0 0 497 497 Total public utilities 0 7,169 497 7,666 Sovereign and supranational: Third party pricing vendor 0 232 0 232 Internal 0 565 0 565 Broker/other 0 0 37 37 Total sovereign and supranational 0 797 37 834 Banks/financial institutions: Third party pricing vendor 0 4,622 0 4,622 Internal 0 4,518 105 4,623 Broker/other 0 0 54 54 Total banks/financial institutions 0 9,140 159 9,299 Other corporate: Third party pricing vendor 0 22,268 0 22,268 Internal 0 5,352 200 5,552 Broker/other 0 0 542 542 Total other corporate 0 27,620 742 28,362 Total securities available for sale $ 24,158 $ 49,805 $ 1,778 $ 75,741 Equity securities, carried at fair value: Third party pricing vendor $ 822 $ 60 $ 0 $ 882 Broker/other 0 0 209 209 Total equity securities $ 822 $ 60 $ 209 $ 1,091 2021 (In millions) Quoted Prices in Active Markets Significant Observable Significant Unobservable Inputs Total Securities available for sale, carried at fair value: Fixed maturity securities: Government and agencies: Third party pricing vendor $ 32,532 $ 808 $ 0 $ 33,340 Internal 0 480 0 480 Total government and agencies 32,532 1,288 0 33,820 Municipalities: Third party pricing vendor 0 2,222 0 2,222 Internal 0 814 0 814 Total municipalities 0 3,036 0 3,036 Mortgage- and asset-backed securities: Third party pricing vendor 0 955 0 955 Broker/other 0 0 291 291 Total mortgage- and asset-backed securities 0 955 291 1,246 Public utilities: Third party pricing vendor 0 4,527 0 4,527 Internal 0 5,031 0 5,031 Broker/other 0 0 493 493 Total public utilities 0 9,558 493 10,051 Sovereign and supranational: Third party pricing vendor 0 273 0 273 Internal 0 799 0 799 Broker/other 0 0 43 43 Total sovereign and supranational 0 1,072 43 1,115 Banks/financial institutions: Third party pricing vendor 0 5,237 0 5,237 Internal 0 6,309 0 6,309 Broker/other 0 0 45 45 Total banks/financial institutions 0 11,546 45 11,591 Other corporate: Third party pricing vendor 0 29,495 0 29,495 Internal 0 7,916 0 7,916 Broker/other 0 0 426 426 Total other corporate 0 37,411 426 37,837 Total securities available for sale $ 32,532 $ 64,866 $ 1,298 $ 98,696 Equity securities, carried at fair value: Third party pricing vendor $ 1,340 $ 90 $ 0 $ 1,430 Broker/other 0 0 173 173 Total equity securities $ 1,340 $ 90 $ 173 $ 1,603
Fair Value Assets Held-To-Maturity Securities Primary Pricing Sources	2022 (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 maturity securities: Government and agencies: Third party pricing vendor $ 20,132 $ 180 $ 0 $ 20,312 Total government and agencies 20,132 180 0 20,312 Municipalities: Third party pricing vendor 0 335 0 335 Total municipalities 0 335 0 335 Public utilities: Third party pricing vendor 0 41 0 41 Total public utilities 0 41 0 41 Sovereign and supranational: Third party pricing vendor 0 242 0 242 Broker/other 0 258 0 258 Total sovereign and supranational 0 500 0 500 Other corporate: Third party pricing vendor 0 22 0 22 Total other corporate 0 22 0 22 Total securities held to maturity $ 20,132 $ 1,078 $ 0 $ 21,210 2021 (In millions) Quoted Prices in Active Markets Significant Observable Significant Unobservable Inputs Total Securities held to maturity, carried at amortized cost: Fixed maturity securities: Government and agencies: Third party pricing vendor $ 25,469 $ 230 $ 0 $ 25,699 Total government and agencies 25,469 230 0 25,699 Municipalities: Third party pricing vendor 0 436 0 436 Total municipalities 0 436 0 436 Public utilities: Third party pricing vendor 0 55 0 55 Total public utilities 0 55 0 55 Sovereign and supranational: Third party pricing vendor 0 313 0 313 Broker/other 0 337 0 337 Total sovereign and supranational 0 650 0 650 Other corporate: Third party pricing vendor 0 29 0 29 Total other corporate 0 29 0 29 Total securities held to maturity $ 25,469 $ 1,400 $ 0 $ 26,869
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	The following tables present the changes in fair value of the Company's investments and derivatives carried at fair value classified as Level 3 as of December 31. Derivative assets and liabilities are presented as a net value. 2022 Fixed Maturity Securities Equity Derivatives (In millions) Mortgage- Public Sovereign Banks/ Other Foreign Total Balance, beginning of period $ 291 $ 493 $ 43 $ 45 $ 426 $ 173 $ 0 $ 1,471 Net investment gains (losses) included (4) 4 0 1 0 4 0 5 Unrealized gains (losses) included in (76) (99) (6) (14) (93) 0 0 (288) Purchases, issuances, sales Purchases 273 35 0 132 387 59 0 886 Issuances 0 0 0 0 0 0 0 0 Sales 0 0 0 0 0 0 0 0 Settlements (78) (64) 0 (23) (187) (7) 0 (359) Transfers into Level 3 0 128 0 18 350 0 0 496 Transfers out of Level 3 (63) 0 0 0 (141) (20) 0 (224) Balance, end of period $ 343 $ 497 $ 37 $ 159 $ 742 $ 209 $ 0 $ 1,987 Changes in unrealized gains (losses) $ (4) $ 1 $ 0 $ 0 $ 0 $ 1 $ 0 $ (2) 2021 Fixed Maturity Securities Equity Derivatives (In millions) Mortgage- Public Sovereign Banks/ Other Foreign Total Balance, beginning of period $ 224 $ 422 $ 48 $ 24 $ 299 $ 102 $ (98) $ 1,021 Net investment gains (losses) included 0 0 0 0 2 21 (158) (135) Unrealized gains (losses) included in (25) (21) (5) (2) (11) 0 (1) (65) Purchases, issuances, sales Purchases 169 167 0 23 90 41 0 490 Issuances 0 0 0 0 0 17 0 17 Sales 0 (2) (23) 0 0 (8) 0 (33) Settlements 0 (21) 0 0 (17) 0 0 (38) Transfers into Level 3 0 0 23 0 84 0 0 107 Transfers out of Level 3 (77) (52) 0 0 (21) 0 257 107 Balance, end of period $ 291 $ 493 $ 43 $ 45 $ 426 $ 173 $ 0 $ 1,471 Changes in unrealized gains (losses) $ (24) $ (23) $ (4) $ (2) $ (27) $ 21 $ (158) $ (217)
Fair Value Measurement Inputs and Valuation Techniques	Level 3 Significant Unobservable Input Sensitivity The following tables summarize the significant unobservable inputs used in the valuation of the Company's Level 3 investments carried at fair value as of December 31. Included in the tables are the inputs or range of possible inputs that have an effect on the overall valuation of the financial instruments. 2022 (In millions) Fair Value Valuation Technique(s) Unobservable Input Range Assets: Securities available for sale, carried at fair value: Fixed maturity securities: Mortgage- and asset-backed securities $ 343 Consensus pricing Offered quotes 97.38 - 106.71 (a) Public utilities 497 Discounted cash flow Credit spreads 128 bps - 286 bps (b) Sovereign and supranational 37 Consensus pricing Offered quotes N/A (c) Banks/financial institutions 159 Discounted cash flow Credit spreads 67 bps - 188 bps (b) Other corporate 742 Discounted cash flow Credit spreads 66 bps - 647 bps (b) Equity securities 209 Adjusted cost Private financials N/A (d) Total assets $ 1,987 (a) Represents prices for securities where the Company receives unadjusted broker quotes and for which there is no transparency into the providers' valuation techniques. (b) Actual or equivalent credit spreads in basis points. (c) Category represents a single security; range not applicable. (d) Prices do not utilize credit spreads therefore range is not applicable. 2021 (In millions) Fair Value Valuation Technique(s) Unobservable Input Range Assets: Securities available for sale, carried at fair value: Fixed maturity securities: Mortgage- and asset-backed securities $ 291 Consensus pricing Offered quotes 104.79 - 111.36 (a) Public utilities 493 Discounted cash flow Credit spreads 118 bps - 260 bps (b) Sovereign and supranational 43 Consensus pricing Offered quotes N/A (c) Banks/financial institutions 45 Consensus pricing Offered quotes 100.00 - 103.00 (a) Other corporate 426 Discounted cash flow Credit spreads 121 bps - 560 bps (b) Equity securities 173 Adjusted cost Private financials N/A (d) Total assets $ 1,471 (a) Represents prices for securities where the Company receives unadjusted broker quotes and for which there is no transparency into the providers' valuation techniques. (b) Actual or equivalent credit spreads in basis points. (c) Category represents a single security; range not applicable. (d) Prices do not utilize credit spreads therefore range is not applicable.

DEFERRED POLICY ACQUISITION C_2

DEFERRED POLICY ACQUISITION COSTS AND INSURANCE EXPENSES (Tables)	12 Months Ended
	Dec. 31, 2022
Deferred Policy Acquisition Costs Disclosures [Abstract]
Schedule of Deferred Policy Acquisition Costs	The following table presents a rollforward of deferred policy acquisition costs by segment for the years ended December 31. 2022 2021 (In millions) Japan U.S. Japan U.S. Deferred policy acquisition costs: Balance, beginning of year $ 6,233 $ 3,292 $ 6,991 $ 3,450 Capitalization 498 556 593 470 Amortization (547) (605) (653) (517) Foreign currency translation and other (829) (5) (698) (111) Balance, end of year $ 5,355 $ 3,238 $ 6,233 $ 3,292
Advertising Expense	Advertising expense, which is included in insurance expenses in the consolidated statements of earnings, was as follows for the years ended December 31: (In millions) 2022 2021 2020 Advertising expense: Aflac Japan $ 77 $ 91 $ 72 Aflac U.S. 127 138 112 Total advertising expense $ 204 $ 229 $ 184
Schedule Of Depreciation And Amortization Expense	Depreciation and other amortization expenses, which are included in insurance expenses in the consolidated statements of earnings, were as follows for the years ended December 31: (In millions) 2022 2021 2020 Depreciation expense $ 40 $ 39 $ 36 Other amortization expense 5 6 5 Total depreciation and other amortization expense $ 45 $ 45 $ 41

POLICY LIABILITIES (Tables)

POLICY LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2022
Insurance Loss Reserves [Abstract]
Liability for Future Policy Benefits by Product Segment	The liability for future policy benefits as of December 31 consisted of the following: Liability Amounts Interest Rate Assumptions (In millions) 2022 2021 Health insurance Japan $ 42,936 $ 49,421 0.6 - 6.75 % U.S. 8,972 8,949 3.0 - 8.0 Intercompany eliminations (1) (367) (456) 2.0 Life insurance Japan 28,218 31,756 0.6 - 4.0 U.S. 990 918 2.5 - 6.0 Total $ 80,749 $ 90,588 (1) Elimination entry necessary due to recapture of a portion of policy liabilities ceded externally, as a result of the reinsurance retrocession transaction as described in Note 8 of the Notes to the Consolidated Financial Statements
Schedule of Liability for Unpaid Claims Adjustment Expense	Changes in the liability for unpaid policy claims were as follows for the years ended December 31: (In millions) 2022 2021 2020 Unpaid supplemental health claims, beginning of period $ 4,067 $ 4,389 $ 3,968 Less reinsurance recoverables 37 39 30 Net balance, beginning of period 4,030 4,350 3,938 Add claims incurred during the period related to: Current year 6,412 6,969 7,179 Prior years (633) (860) (540) Total incurred 5,779 6,109 6,639 Less claims paid during the period on claims incurred during: Current year 3,973 4,356 4,488 Prior years 1,736 1,827 1,966 Total paid 5,709 6,183 6,454 Effect of foreign exchange rate changes on unpaid claims (289) (246) 128 Zurich acquisition 0 0 99 Net balance, end of period 3,811 4,030 4,350 Add reinsurance recoverables 43 37 39 Unpaid supplemental health claims, end of period 3,854 4,067 4,389 Unpaid life claims, end of period 707 769 798 Total liability for unpaid policy claims $ 4,561 $ 4,836 $ 5,187

REINSURANCE (Tables)

REINSURANCE (Tables)	12 Months Ended
	Dec. 31, 2022
Reinsurance Disclosures [Abstract]
Effects of Reinsurance	The following table reconciles direct premiums and direct benefits and claims to net amounts after the effect of reinsurance which also includes the elimination of inter-segment amounts associated with affiliated reinsurance for the years ended December 31. (In millions) 2022 2021 2020 Direct earned premiums $ 15,387 $ 17,857 $ 18,955 Ceded to other companies: Ceded Aflac Japan closed blocks (343) (431) (466) Other (76) (73) (87) Assumed from other companies: Retrocession activities 144 180 195 Other 151 114 25 Net earned premiums $ 15,263 $ 17,647 $ 18,622 Direct benefits and claims $ 9,255 $ 10,716 $ 12,080 Ceded benefits and change in reserves for future benefits: Ceded Aflac Japan closed blocks (340) (379) (419) Eliminations 23 31 39 Other (38) (36) (63) Assumed from other companies: Retrocession activities 145 165 180 Eliminations (23) (31) (39) Other 131 110 18 Benefits and claims, net $ 9,153 $ 10,576 $ 11,796

NOTES PAYABLE AND LEASE OBLIG_2

NOTES PAYABLE AND LEASE OBLIGATIONS (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	A summary of notes payable and lease obligations as of December 31 follows: (In millions) 2022 2021 3.625% senior notes paid September 2022 0 748 3.25% senior notes paid October 2022 0 448 1.125% senior sustainability notes due March 2026 397 397 2.875% senior notes due October 2026 298 298 3.60% senior notes due April 2030 992 991 6.90% senior notes due December 2039 221 221 6.45% senior notes due August 2040 254 255 4.00% senior notes due October 2046 394 394 4.750% senior notes due January 2049 541 541 Yen-denominated senior notes and subordinated debentures: .300% senior notes due September 2025 (principal amount ¥12.4 billion) 93 107 .932% senior notes due January 2027 (principal amount ¥60.0 billion) 450 520 1.075% senior notes due September 2029 (principal amount ¥33.4 billion) 250 0 .500% senior notes due December 2029 (principal amount ¥12.6 billion) 95 109 .550% senior notes due March 2030 (principal amount ¥13.3 billion) 99 115 1.159% senior notes due October 2030 (principal amount ¥29.3 billion) 220 254 .633% senior notes due April 2031 (principal amount ¥30.0 billion) 225 259 .843% senior notes due December 2031 (principal amount ¥9.3 billion) 70 81 .750% senior notes due March 2032 (principal amount ¥20.7 billion) 155 179 1.320% senior notes due December 2032 (principal amount ¥21.1 billion) 158 0 .844% senior notes due April 2033 (principal amount ¥12.0 billion) 90 104 1.488% senior notes due October 2033 (principal amount ¥15.2 billion) 114 131 .934% senior notes due December 2034 (principal amount ¥9.8 billion) 73 85 .830% senior notes due March 2035 (principal amount ¥10.6 billion) 79 91 1.039% senior notes due April 2036 (principal amount ¥10.0 billion) 75 86 1.594% senior notes due September 2037 (principal amount ¥6.5 billion) 49 0 1.750% senior notes due October 2038 (principal amount ¥8.9 billion) 66 77 1.122% senior notes due December 2039 (principal amount ¥6.3 billion) 47 54 1.264% senior notes due April 2041 (principal amount ¥10.0 billion) 75 86 2.108% subordinated debentures due October 2047 (principal amount ¥60.0 billion) 448 517 .963% subordinated bonds due April 2049 (principal amount ¥30.0 billion) 226 260 1.560% senior notes due April 2051 (principal amount ¥20.0 billion) 149 172 2.144% senior notes due September 2052 (principal amount ¥12.0 billion) 90 0 Yen-denominated loans: Variable interest rate loan due August 2027 (.33% in 2022, principal amount ¥11.7 billion) 88 0 Variable interest rate loan due August 2029 (.43% in 2022 and .41% in 2021, principal amount ¥25.3 billion in 2022 and ¥5.0 billion in 2021) 190 43 Variable interest rate loan due August 2032 (.58% in 2022 and .56% in 2021, principal amount ¥70.0 billion in 2022 and ¥25.0 billion in 2021) 524 216 Finance lease obligations payable through 2028 8 12 Operating lease obligations payable through 2049 139 105 Total notes payable and lease obligations $ 7,442 $ 7,956 Amounts in the table above are reported net of debt issuance costs and issuance premiums or discounts, if applicable, that are being amortized over the life of the notes.
Schedule of Maturities of Long Term Debt	The aggregate contractual maturities of notes payable during each of the years after December 31, 2022, are as follows: (In millions) Total 2023 $ 0 2024 0 2025 93 2026 700 2027 540 Thereafter 6,021 Total $ 7,354
Schedule of Line of Credit Facilities	A summary of the Company's lines of credit as of December 31, 2022 follows: Borrower(s) Type Term Expiration Date Capacity Amount Outstanding Interest Rate on Borrowed Amount Maturity Period Commitment Fee Business Purpose Aflac Incorporated uncommitted bilateral 364 days December 28, 2023 $100 million $0 million The rate quoted by the bank and agreed upon at the time of borrowing Up to 3 months None General corporate purposes Aflac Incorporated unsecured revolving 5 years May 9, ¥100.0 billion ¥0.0 billion A rate per annum equal to (a) TIBOR plus, the alternative applicable TIBOR margin during the availability period from the closing date to the commitment termination date or (b) the TIBOR rate offered by the agent to major banks in yen for the applicable period plus, the applicable alternative TIBOR margin during the term out period No later than .28% to .45%, depending on the Parent Company's debt ratings as of the date of determination General corporate purposes, including a capital contingency plan for the operations of the Parent Company Aflac Incorporated unsecured revolving 5 years November 15, 2027, or the date commitments are terminated pursuant to an event of default $1.0 billion $0.0 billion A rate per annum equal to, at the Company's option, either, (a) Secured Overnight Financing Rate (SOFR) for U.S. dollar denominated borrowings or TIBOR for Japanese yen denominated borrowings, in either case adjusted for certain costs, or (b) a base rate determined by reference to the highest of (1) the federal funds rate plus 1/2 of 1%, (2) the rate of interest for such day announced by the agent as its prime rate, or (3) SOFR for an interest period of one month plus 1.00%, in each case plus an applicable margin No later than November 15, 2027 .08% to .20%, depending on the Parent Company's debt ratings as of the date of determination General corporate purposes, including a capital contingency plan for the operations of the Parent Company Aflac Incorporated uncommitted bilateral None specified None specified $50 million $0 million A rate per annum equal to, at the Parent Company's option, either (a) a rate determined by reference to USD LIBOR for the interest period relevant to such borrowing or (b) the base rate determined by reference to the highest of (a) the lender's USD short-term commercial loan rate, (b) the federal funds rate plus 1/2 of 1% and (c) USD one-month LIBOR plus 1%. USD LIBOR is subject to replacement with SOFR under certain circumstances Up to 3 months None General corporate purposes Aflac (1) uncommitted revolving 364 days November 30, 2023 $250 million $0 million USD three-month LIBOR plus 75 basis points per annum No later than December 1, 2023 None General corporate purposes Aflac Incorporated (1) (Tranche 1) uncommitted revolving 364 days November 27, 2023 ¥50.0 billion ¥0.0 billion Three-month TIBOR plus 45 basis points per annum No later than November 28, 2023 None General corporate purposes Aflac Incorporated (1) (Tranche 2) uncommitted revolving 364 days November 27, 2023 ¥50.0 billion ¥0.0 billion Three-month TIBOR plus 45 basis points per annum No later than November 28, 2023 None General corporate purposes Aflac New York (1) uncommitted revolving 364 days April 10, $25 million $0 million USD three-month LIBOR plus 75 basis points per annum No later than None General corporate purposes CAIC (1) uncommitted revolving 364 days March 21, $15 million $0 million USD three-month LIBOR plus 75 basis points per annum No later than March 22, 2023 None General corporate purposes (1) Intercompany credit agreement (continued) Borrower(s) Type Term Expiration Date Capacity Amount Outstanding Interest Rate on Borrowed Amount Maturity Period Commitment Fee Business Purpose Tier One Insurance Company (1) uncommitted revolving 364 days March 21, $0.3 million $0 million USD three-month LIBOR plus 75 basis points per annum No later than None General corporate purposes Aflac Ventures Japan K.K. (1) uncommitted revolving 364 days May 2, ¥500 million ¥350 million A rate per annum equal to the short-term prime lending rates of banks appearing on the website for the Bank of Japan on the first day of the applicable period No later than None General corporate purposes Hatch Healthcare K.K. (1) uncommitted revolving 364 days January 3, 2023 (2) ¥900 million ¥0 million A rate per annum equal to the short-term prime lending rates of banks appearing on the website for the Bank of Japan on the first day of the applicable period No later than January 4, 2023 None General corporate purposes Hatch Insight K.K. (1) uncommitted revolving 364 days January 3, 2023 (2) ¥600 million ¥0 million A rate per annum equal to the short-term prime lending rates of banks appearing on the website for the Bank of Japan on the first day of the applicable period No later than January 4, 2023 None General corporate purposes Aflac GI Holdings LLC (1) uncommitted revolving 364 days July 17, $30 million $0 million USD three-month LIBOR plus 75 basis points per annum No later than None General corporate purposes (1) Intercompany credit agreement (2) Renewed in January 2023 with an expiration date of January 3, 2024 The Company was in compliance with all of the covenants of its notes payable and lines of credit at December 31, 2022. No events of default or defaults occurred during 2022 and 2021.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The components of income tax expense (benefit) applicable to pretax earnings for the years ended December 31 were as follows: (In millions) Foreign U.S. Total 2022: Current $ 913 $ 268 $ 1,181 Deferred 200 (978) (778) Total income tax expense $ 1,113 $ (710) $ 403 2021: Current $ 884 $ 211 $ 1,095 Deferred 251 (349) (98) Total income tax expense $ 1,135 $ (138) $ 997 2020: Current $ 822 $ (28) $ 794 Deferred (28) (1,385) (1,413) Total income tax expense $ 794 $ (1,413) $ (619)
Schedule of Effective Income Tax Rate Reconciliation	The principal reasons for the differences and the related tax effects for the years ended December 31 were as follows: (In millions) 2022 2021 2020 Income taxes based on U.S. statutory rates $ 967 $ 1,118 $ 873 Valuation allowance release 0 0 (1,411) DST functional currency change (452) 0 0 Other, net (112) (121) (81) Income tax expense $ 403 $ 997 $ (619)
Schedule of Income Tax Expense Benefit Intraperiod Tax Allocation	Total income tax expense for the years ended December 31 was allocated as follows: (In millions) 2022 2021 2020 Statements of earnings $ 403 $ 997 $ (619) Other comprehensive income (loss): Unrealized foreign currency translation gains (losses) during 547 15 (3) Unrealized gains (losses) on fixed maturity securities: Unrealized holding gains (losses) on fixed maturity (2,752) (194) 223 Reclassification adjustment for (gains) losses 0 (7) 33 Unrealized gains (losses) on derivatives during period 1 1 0 Pension liability adjustment during period 35 30 (2) Total income tax expense (benefit) related to items of (2,169) (155) 251 Total income taxes $ (1,766) $ 842 $ (368)
Schedule of Deferred Tax Assets and Liabilities	The income tax effects of the temporary differences that gave rise to deferred income tax assets and liabilities as of December 31 were as follows: (In millions) 2022 2021 Deferred income tax liabilities: Deferred policy acquisition costs $ 2,803 $ 3,262 Unrealized gains and other basis differences on investments 0 5,313 Foreign currency gain on Aflac Japan 147 0 Premiums receivable 59 66 Policy benefit reserves 3,173 3,578 Total deferred income tax liabilities 6,182 12,219 Deferred income tax assets: Unfunded retirement benefits 7 7 Other accrued expenses 27 38 Policy and contract claims 722 794 Foreign currency loss on Aflac Japan 0 91 Deferred compensation 65 104 Depreciation 248 230 Anticipatory foreign tax credit 3,069 5,883 Deferred foreign tax credit 822 701 Other basis differences in investments 101 0 Other 147 163 Total deferred income tax assets 5,208 8,011 Net deferred income tax liability 974 4,208 Current income tax (asset) liability 322 131 Total income tax liability $ 1,296 $ 4,339
Summary of Income Tax Contingencies	A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows for the years ended December 31: (In millions) 2022 2021 Balance, beginning of year $ 5 $ 19 Additions for tax positions of prior years 0 1 Reductions for tax positions of prior years 0 (15) Balance, end of year $ 5 $ 5

SHAREHOLDERS' EQUITY (Tables)

SHAREHOLDERS' EQUITY (Tables)	12 Months Ended
	Dec. 31, 2022
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 years ended December 31. (In thousands of shares) 2022 2021 2020 Common stock - issued: Balance, beginning of period 1,352,739 1,351,018 1,349,309 Exercise of stock options and issuance of restricted shares 1,340 1,721 1,709 Balance, end of period 1,354,079 1,352,739 1,351,018 Treasury stock: Balance, beginning of period 700,607 658,564 622,516 Purchases of treasury stock: Share repurchase program 39,187 43,327 37,899 Other 370 437 542 Dispositions of treasury stock: Shares issued to AFL Stock Plan (1,009) (1,216) (2,021) Exercise of stock options (117) (275) (121) Other (215) (230) (251) Balance, end of period 738,823 700,607 658,564 Shares outstanding, end of period 615,256 652,132 692,454
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 EPS at December 31: (In thousands) 2022 2021 2020 Anti-dilutive share-based awards 118 0 687
Schedule of Weighted Average Number of Shares	The weighted-average shares used in calculating EPS for the years ended December 31 were as follows: (In thousands of shares) 2022 2021 2020 Weighted-average outstanding shares used for calculating basic EPS 634,816 673,617 713,702 Dilutive effect of share-based awards 2,839 3,112 2,490 Weighted-average outstanding shares used for calculating diluted EPS 637,655 676,729 716,192
Changes in Accumulated Other Comprehensive Income (Loss)	The tables below are reconciliations of accumulated other comprehensive income by component for the years ended December 31. Changes in Accumulated Other Comprehensive Income 2022 (In millions) Unrealized Foreign Unrealized Unrealized Pension Total Balance at December 31, 2021 $ (2,013) $ 9,602 $ (30) $ (166) $ 7,393 Other comprehensive (1,627) (9,946) (1) 111 (11,463) Amounts reclassified from 0 (358) 4 19 (335) Net current-period other (1,627) (10,304) 3 130 (11,798) Balance at December 31, 2022 $ (3,640) $ (702) $ (27) $ (36) $ (4,405) All amounts in the table above are net of tax. 2021 (In millions) Unrealized Foreign Unrealized Unrealized Pension Liability Adjustment Total Balance at December 31, 2020 $ (1,109) $ 10,361 $ (34) $ (284) $ 8,934 Other comprehensive (904) (735) (1) 90 (1,550) Amounts reclassified from 0 (24) 5 28 9 Net current-period other (904) (759) 4 118 (1,541) Balance at December 31, 2021 $ (2,013) $ 9,602 $ (30) $ (166) $ 7,393 All amounts in the table above are net of tax. 2020 (In millions) Unrealized Foreign Unrealized Unrealized Pension Liability Adjustment Total Balance at December 31, 2019 $ (1,623) $ 8,548 $ (33) $ (277) $ 6,615 Cumulative effect of change 0 848 0 0 848 Balance at January 1, 2020 $ (1,623) $ 9,396 $ (33) $ (277) $ 7,463 Other comprehensive 514 839 (1) (30) 1,322 Amounts reclassified from 0 126 0 23 149 Net current-period other 514 965 (1) (7) 1,471 Balance at December 31, 2020 $ (1,109) $ 10,361 $ (34) $ (284) $ 8,934 All amounts in the table above are net of tax.
Reclassification out of Accumulated Other Comprehensive Income	The tables below summarize the amounts reclassified from each component of accumulated other comprehensive income into net earnings for the years ended December 31. Reclassifications Out of Accumulated Other Comprehensive Income (In millions) 2022 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 $ 453 Net investment gains (losses) (95) Tax (expense) or benefit (1) $ 358 Net of tax Unrealized gains (losses) on derivatives $ (4) Net investment gains (losses) (1) Net investment income (5) Total before tax 1 Tax (expense) or benefit (1) $ (4) Net of tax Amortization of defined benefit pension items: Actuarial gains (losses) $ (24) Acquisition and operating expenses (2) Prior service (cost) credit 0 Acquisition and operating expenses (2) 5 Tax (expense) or benefit (1) $ (19) Net of tax Total reclassifications for the period $ 335 Net of tax (1) Based on 21% tax rate (2) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 14 for additional details). (In millions) 2021 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 $ 31 Net investment gains (losses) (7) Tax (expense) or benefit (1) $ 24 Net of tax Unrealized gains (losses) on derivatives $ (5) Net investment gains (losses) (1) Net investment income (6) Total before tax 1 Tax (expense) or benefit (1) $ (5) Net of tax Amortization of defined benefit pension items: Actuarial gains (losses) $ (35) Acquisition and operating expenses (2) Prior service (cost) credit 0 Acquisition and operating expenses (2) 7 Tax (expense) or benefit (1) $ (28) Net of tax Total reclassifications for the period $ (9) Net of tax (1) Based on 21% tax rate (2) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 14 for additional details). (In millions) 2020 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 $ (159) Net investment gains (losses) 33 Tax (expense) or benefit (1) $ (126) Net of tax Amortization of defined benefit pension items: Actuarial gains (losses) $ (32) Acquisition and operating expenses (2) Prior service (cost) credit 3 Acquisition and operating expenses (2) 6 Tax (expense) or benefit (1) $ (23) Net of tax Total reclassifications for the period $ (149) Net of tax (1) Based on 21% tax rate (2) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 14 for additional details).

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Expense Recognized in Connection with Share Based Awards	The following table presents the impact of the expense recognized in connection with share-based awards for the periods ended December 31. (In millions, except for per-share amounts) 2022 2021 2020 Impact on earnings from continuing operations $ 69 $ 65 $ 61 Impact on earnings before income taxes 69 65 61 Impact on net earnings 55 51 48 Impact on net earnings per share: Basic $ .09 $ .08 $ .07 Diluted .09 .08 .07
Schedule of Share-based Compensation, Stock Options, Activity	The following table summarizes stock option activity under the employee stock option plan. (In thousands of shares) Stock Weighted-Average Outstanding at December 31, 2019 3,706 $ 29.65 Granted in 2020 59 35.75 Canceled in 2020 (82) 26.31 Exercised in 2020 (638) 27.82 Outstanding at December 31, 2020 3,045 30.25 Granted in 2021 0 0.00 Canceled in 2021 (4) 16.93 Exercised in 2021 (896) 28.45 Outstanding at December 31, 2021 2,145 31.02 Granted in 2022 0 0.00 Canceled in 2022 (8) 32.43 Exercised in 2022 (560) 28.11 Outstanding at December 31, 2022 1,577 $ 32.05
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable	(In thousands of shares) 2022 2021 2020 Shares exercisable, end of year 1,577 2,145 2,986
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The following table presents the assumptions used in valuing options granted, if applicable, during the years ended December 31. 2022 2021 2020 Expected term (years) 7.8 7.9 6.0 Expected volatility 25.8 % 25.6 % 24.4 % Annual forfeiture rate 4.0 3.8 3.9 Risk-free interest rate 1.6 1.0 2.0 Dividend yield 2.7 3.0 3.3
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range	The following table summarizes information about stock options outstanding and exercisable at December 31, 2022. (In thousands of shares) Options Outstanding Options Exercisable Range of Stock Option Wgtd.-Avg. Wgtd.-Avg. Stock Option Wgtd.-Avg. $ 0.00 - $ 24.75 88 0.1 $ 24.75 88 $ 24.75 24.75 - 28.97 298 3.0 28.94 298 28.94 28.97 - 31.21 564 1.8 30.70 564 30.70 31.21 - 36.21 478 3.7 34.25 478 34.25 36.21 - 44.59 149 4.8 40.57 149 40.57 $ 0.00 - $ 44.59 1,577 2.8 $ 32.05 1,577 $ 32.05
Schedule of Cash Proceeds Received from Share-based Payment Awards	The following table summarizes stock option activity during the years ended December 31. (In millions) 2022 2021 2020 Total intrinsic value of options exercised $ 20 $ 21 $ 11 Cash received from options exercised 16 26 18 Tax benefit realized as a result of options exercised and 18 17 18
Schedule of Share-based Payment Award, Performance Based Restricted Stock, Valuation Assumptions	Key assumptions used to value PBRS granted during 2022 follows: (In millions) 2022 Expected volatility (based on Aflac Inc. and peer group historical daily stock price) 37.1 % Expected life from grant date (years) 2.9 Risk-free interest rate (based on U.S. Treasury yields at the date of grant) 1.8 %
Schedule of Nonvested Restricted Stock Units Activity	The value of restricted stock awards and restricted stock units is based on the fair market value of the Company's common stock at the date of grant. The following table summarizes restricted stock activity during the years ended December 31. (In thousands of shares) Shares Weighted-Average Restricted stock at December 31, 2019 (1) 2,715 $ 43.74 Granted in 2020 1,544 45.88 Canceled in 2020 (119) 49.27 Vested in 2020 (1,560) 35.23 Restricted stock at December 31, 2020 2,580 48.57 Granted in 2021 1,496 47.87 Canceled in 2021 (148) 49.00 Vested in 2021 (1,371) 45.80 Restricted stock at December 31, 2021 2,557 49.38 Granted in 2022 1,119 66.72 Canceled in 2022 (96) 54.59 Vested in 2022 (1,166) 49.64 Restricted stock at December 31, 2022 2,414 $ 56.21 (1) This balance has been adjusted to include dividends

STATUTORY ACCOUNTING AND DIVI_2

STATUTORY ACCOUNTING AND DIVIDEND RESTRICTIONS (Tables)	12 Months Ended
	Dec. 31, 2022
Insurance [Abstract]
Schedule of Capital and Surplus Based on Statutory Accounting Practices	The table below represents statutory capital and surplus based on statutory accounting practices for the Company’s U.S. life insurance subsidiaries as of December 31. (In millions) 2022 2021 Aflac $ 3,097 $ 2,627 CAIC 360 244 TOIC 60 57 Aflac New York 339 360
Schedule of Net Income (Loss) Based on Statutory Accounting Practices	The table below represents net income (loss) based on statutory accounting practices for the Company’s U.S. life insurance subsidiaries as of December 31. (In millions) 2022 2021 2020 Aflac $ 1,134 $ 1,146 $ 872 CAIC (69) (30) 1 TOIC (35) (27) (24) Aflac New York 67 83 75
Profit Remittances Disclosure	Profits remitted by Aflac Japan to the Parent Company were as follows for the years ended December 31: In Dollars In Yen (In millions of dollars and billions of yen) 2022 2021 2020 2022 2021 2020 Profit remittances $ 2,412 $ 2,138 $ 1,215 ¥ 324.2 ¥ 236.7 ¥ 129.8

BENEFIT PLANS (Tables)

BENEFIT PLANS (Tables)	12 Months Ended
	Dec. 31, 2022
Schedule of Net Funded Status	Information with respect to the Company's benefit plans' assets and obligations as of December 31 was as follows: Pension Benefits Other Japan U.S. Postretirement Benefits (In millions) 2022 2021 2022 2021 2022 2021 Projected benefit obligation: Benefit obligation, beginning of year $ 432 $ 473 $ 1,186 $ 1,204 $ 36 $ 42 Service cost 19 23 26 28 0 0 Interest cost 5 6 34 32 1 1 Actuarial (gain) loss (61) (9) (374) (50) 0 (2) Benefits and expenses paid (13) (15) (29) (28) (5) (5) Effect of foreign exchange (55) (46) 0 0 0 0 Benefit obligation, end of year 327 432 843 1,186 32 36 Plan assets: Fair value of plan assets, 415 416 885 824 0 0 Actual return on plan assets (46) 14 (205) 81 0 0 Employer contributions 34 44 8 8 5 5 Benefits and expenses paid (13) (15) (29) (28) (5) (5) Effect of foreign exchange (55) (44) 0 0 0 0 Fair value of plan assets, 335 415 659 885 0 0 Funded status of the plans (1) $ 8 $ (17) $ (184) $ (301) $ (32) $ (36) Amounts recognized in accumulated other Net actuarial (gain) loss $ 35 $ 50 $ 10 $ 158 $ 8 $ 10 Prior service (credit) cost 0 0 (2) (2) 0 0 Total included in accumulated $ 35 $ 50 $ 8 $ 156 $ 8 $ 10 Accumulated benefit obligation $ 215 $ 346 $ 741 $ 1,010 N/A N/A (1) Underfunded amounts are recognized in other liabilities in the consolidated balance sheets and overfunded amounts are recognized in other assets in the consolidated balance sheets
Information for Pension Plans with Accumulated Benefit Obligation in Excess of Plan Assets	Information for Pension Plans with an Accumulated Benefit Obligation in Excess of Plan Assets Pension Benefits Japan U.S. (In millions) 2022 2021 2022 2021 Accumulated benefit obligation $ 215 $ 346 $ 741 $ 1,010 Fair value of plan assets 335 415 659 885
Information for Pension Plans with a Projected Benefit Obligation in Excess of Plan Assets	Information for Pension Plans with a Projected Benefit Obligation in Excess of Plan Assets Pension Benefits Japan (1) U.S. (2) (In millions) 2022 2021 2022 2021 Projected benefit obligation $ 327 $ 432 $ 843 $ 1,186 Fair value of plan assets 335 415 659 885 (1) The net amount of projected benefit obligation and plan assets for the overfunded Japan pension plan was $8 at December 31, 2022 and was classified as other assets on the statement of financial position. The net amount of projected benefit obligation and plan assets for the underfunded (including unfunded) Japan pension plan was $17 at December 31, 2021 and was classified as liabilities on the statement of financial position. (2) The net amount of projected benefit obligation and plan assets for the underfunded (including unfunded) U.S. pension plan was $184 and $301 at December 31, 2022 and 2021, respectively, and was classified as liabilities on the statement of financial position.
Schedule of Assumptions Used	Pension Benefits Other Japan U.S. Postretirement Benefits 2022 2021 2020 2022 2021 2020 2022 2021 2020 Weighted-average Discount rate - net periodic .94 % .75 % .75 % 2.94 % 2.68 % 3.25 % 2.94 % 2.68 % 3.25 % Discount rate - benefit 1.95 .94 .75 5.28 2.94 2.68 5.28 2.94 2.68 Expected long-term return 2.00 2.00 2.00 5.50 5.75 6.00 N/A N/A N/A Rate of compensation N/A N/A N/A 4.00 4.00 4.00 N/A N/A N/A Health care cost trend rates N/A N/A N/A N/A N/A N/A 6.50 (1) 5.80 (1) 6.30 (1)
Schedule of Net Benefit Costs	Total net periodic benefit cost includes the following components: Pension Benefits Other Japan U.S. Postretirement Benefits (In millions) 2022 2021 2020 2022 2021 2020 2022 2021 2020 Service cost $ 19 $ 23 $ 24 $ 26 $ 28 $ 29 $ 0 $ 0 $ 0 Interest cost 5 6 5 34 32 34 1 1 1 Expected return on plan assets (8) (8) (7) (42) (41) (35) 0 0 0 Amortization of net actuarial loss 1 2 4 21 30 26 2 3 2 Amortization of prior service cost 0 0 (1) 0 0 (2) 0 0 0 Net periodic (benefit) cost $ 17 $ 23 $ 25 $ 39 $ 49 $ 52 $ 3 $ 4 $ 3
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)	The following table summarizes the amounts recognized in other comprehensive loss (income) for the years ended December 31: Pension Benefits Other Japan U.S. Postretirement Benefits (In millions) 2022 2021 2020 2022 2021 2020 2022 2021 2020 Net actuarial loss (gain) $ (14) $ (22) $ (14) $ (127) $ (90) $ 45 $ 0 $ (2) $ 5 Amortization of net actuarial loss (1) (2) (4) (21) (30) (26) (2) (3) (2) Amortization of prior 0 1 1 0 0 2 0 0 0 Total $ (15) $ (23) $ (17) $ (148) $ (120) $ 21 $ (2) $ (5) $ 3
Schedule of Expected Benefit Payments	The following table provides expected benefit payments, which reflect expected future service, as appropriate. Pension Benefits Other (In millions) Japan U.S. Postretirement Benefits 2023 $ 10 $ 33 $ 5 2024 17 34 5 2025 15 35 5 2026 14 37 4 2027 14 46 4 2028-2032 79 246 7
Schedule of Allocation of Plan Assets	Asset allocation targets as of December 31, 2022 were as follows: Japan U.S. Domestic equities 6 % 0 % International equities 17 0 Fixed income securities 69 100 Other 8 0 Total 100 % 100 %
Plan Assets
Fair Value, Assets Measured on Recurring Basis	The following table presents the fair value of Aflac Japan's pension plan assets that are measured at fair value on a recurring basis as of December 31. All of these assets are classified as Level 2 in the fair value hierarchy. (In millions) 2022 2021 Japan pension plan assets: Equities: Japanese equity securities $ 20 $ 21 International equity securities 57 86 Fixed income securities: Japanese bonds 20 22 International bonds 210 252 Insurance contracts 28 34 Total $ 335 $ 415 The following table presents the fair value of Aflac U.S.'s pension plan assets that are measured at fair value on a recurring basis as of December 31. All of these assets are classified as Level 1 in the fair value hierarchy. (In millions) 2022 2021 U.S. pension plan assets: Mutual funds: Large cap equity funds $ 0 $ 297 Mid cap equity funds 0 25 International equity funds 0 208 Fixed income bond funds 641 346 Aflac Incorporated common stock 0 7 Cash and cash equivalents 18 2 Total $ 659 $ 885

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Impact from Adoption on Statement of Earnings (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Revenues:
Net premium income		$ 15,263		$ 17,647		$ 18,622
Net investment income		3,656		3,818		3,638
Net investment gains (losses)		363		468		(270)
Total revenues		19,502		22,106		22,147
Benefits and expenses:
Benefits and claims, net		9,153		10,576		11,796
Acquisition and operating expenses:
Amortization of deferred policy acquisition costs		1,152		1,170		1,214
Insurance commissions		1,117		1,256		1,316
Insurance and other expenses	[1]	3,250		3,544		3,420
Interest expense		226		238		242
Total acquisition and operating expenses		5,745		6,208		6,192
Total benefits and expenses		14,898		16,784		17,988
Income tax expense (benefit)		403		997		(619)
Net earnings		4,201		4,325		$ 4,778
Accounting Standards Update 2018-12 | Pro Forma
Revenues:
Net premium income		14,901	[2]	17,095	[3]
Net investment income		3,656		3,818
Net investment gains (losses)		363		468
Other income (loss)		220		173
Total revenues		19,140		21,554
Benefits and expenses:
Benefits and claims, excluding reserve remeasurement (gains) losses		9,102	[2],[4]	10,623	[3],[5]
Reserve remeasurement (gains) losses	[6]	(215)		(147)
Benefits and claims, net		8,887		10,476
Acquisition and operating expenses:
Amortization of deferred policy acquisition costs	[7]	792		835
Insurance commissions		1,117		1,256
Insurance and other expenses		3,249	[8]	3,541	[9]
Interest expense		226		238
Total acquisition and operating expenses		5,384		5,870
Total benefits and expenses		14,271		16,346
Earnings before income taxes		4,869		5,208
Income tax expense (benefit)		451	[10]	977	[11]
Net earnings		4,418		4,231
Accounting Standards Update 2018-12 | As Reported | Pro Forma
Revenues:
Net premium income		15,263	[2]	17,647	[3]
Net investment income		3,656		3,818
Net investment gains (losses)		363		468
Other income (loss)		220		173
Total revenues		19,502		22,106
Benefits and expenses:
Benefits and claims, excluding reserve remeasurement (gains) losses		9,153	[2],[4]	10,576	[3],[5]
Reserve remeasurement (gains) losses	[6]	0		0
Benefits and claims, net		9,153		10,576
Acquisition and operating expenses:
Amortization of deferred policy acquisition costs	[7]	1,152		1,170
Insurance commissions		1,117		1,256
Insurance and other expenses		3,250	[8]	3,544	[9]
Interest expense		226		238
Total acquisition and operating expenses		5,745		6,208
Total benefits and expenses		14,898		16,784
Earnings before income taxes		4,604		5,322
Income tax expense (benefit)		403	[10]	997	[11]
Net earnings		4,201		4,325
Accounting Standards Update 2018-12 | Adoption Impacts | Pro Forma
Revenues:
Net premium income		(362)	[2]	(552)	[3]
Net investment income		0		0
Net investment gains (losses)		0		0
Other income (loss)		0		0
Total revenues		(362)		(552)
Benefits and expenses:
Benefits and claims, excluding reserve remeasurement (gains) losses		(51)	[2],[4]	47	[3],[5]
Reserve remeasurement (gains) losses	[6]	(215)		(147)
Benefits and claims, net		(266)		(100)
Acquisition and operating expenses:
Amortization of deferred policy acquisition costs	[7]	(360)		(335)
Insurance commissions		0		0
Insurance and other expenses		(1)	[8]	(3)	[9]
Interest expense		0		0
Total acquisition and operating expenses		(361)		(338)
Total benefits and expenses		(627)		(438)
Earnings before income taxes		265		(114)
Income tax expense (benefit)		48	[10]	(20)	[11]
Net earnings		$ 217		$ (94)
[1]Includes expense of $48 in 2021 and $15 in 2020 for the early extinguishment of debt.[2]Adjustment reflects a $324 increase in the deferred profit liability on limited-payment products under the updated standard combined with the reclassification of a $38 increase in deferred profit liability previously reported in benefits and claims and reclassified to net earned premiums in conjunction with adoption of the updated standard.[3]Adjustment reflects a $489 increase in the deferred profit liability on limited-payment products under the updated standard combined with the reclassification of a $63 increase in deferred profit liability previously reported in benefits and claims and reclassified to net earned premiums in conjunction with adoption of the updated standard.[4]Adjustment reflects 2022 activity for the effect of calculating benefits using revised net premium ratios and best estimate future cash flow projections, excluding reserve remeasurement impacts.[5]Adjustment reflects 2021 activity for the effect of calculating benefits using revised net premium ratios and best estimate future cash flow projections, excluding reserve remeasurement impacts.[6]Adjustment reflects the reserve remeasurement on the liability for future policy benefits due to applying revised net premium ratios based on updated historical actuals and revised assumptions to past periods each quarter under the updated standard.[7]Adjustment reflects a decrease in DAC amortization due to DAC assets being amortized over the expected life of a contract and no interest accretion recorded under the updated standard.[8]Adjustment reflects 2022 activity for the change in accrued claim adjustment expenses that are included in benefits and claims as a component of the integrated reserve under the updated standard.[9]Adjustment reflects 2021 activity for the change in accrued claim adjustment expenses that are included in benefits and claims as a component of the integrated reserve under the updated standard[10]Adjustment reflects an increase in income tax expense associated with the increase in pretax earnings.[11]Adjustment reflects a decrease in income tax expense associated with the decrease in pretax earnings.

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Impact from Adoption on Statement of Earnings (Details 2) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Benefits and claims, net	$ (9,153)		$ (10,576)		$ (11,796)
Net earned premiums, principally supplemental health insurance	(15,263)		(17,647)		$ (18,622)
Accounting Standards Update 2018-12 | Pro Forma
Benefits and claims, net	(8,887)		(10,476)
Net earned premiums, principally supplemental health insurance	(14,901)	[1]	(17,095)	[2]
Accounting Standards Update 2018-12 | Revision of Prior Period, Accounting Standards Update, Adjustment | Pro Forma
Increase in deferred profit liability	324		489
Benefits and claims, net	38		63
Net earned premiums, principally supplemental health insurance	$ 38		$ 63
[1]Adjustment reflects a $324 increase in the deferred profit liability on limited-payment products under the updated standard combined with the reclassification of a $38 increase in deferred profit liability previously reported in benefits and claims and reclassified to net earned premiums in conjunction with adoption of the updated standard.[2]Adjustment reflects a $489 increase in the deferred profit liability on limited-payment products under the updated standard combined with the reclassification of a $63 increase in deferred profit liability previously reported in benefits and claims and reclassified to net earned premiums in conjunction with adoption of the updated standard.

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Impact from Adoption on Balance Sheet (Details) - USD ($) $ in Millions		Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020	Dec. 31, 2019
Investments and cash:
Available for sale, fixed maturity securities		$ 75,741		$ 98,696
Held to maturity, fixed maturity securities		19,056	[1]	22,000
Equity securities		1,091		1,603
Commercial mortgage and other loans		13,496		11,786
Other investments		4,070		3,842
Cash and cash equivalents		3,943		5,051
Total investments and cash		117,397		142,978
Receivables		647		672
Accrued investment income		745		737
Deferred policy acquisition costs		8,593		9,525
Property and equipment, at cost less accumulated depreciation		530		538
Other		3,105		3,092
Assets		131,017		157,542
Policy liabilities:
Future policy benefits		80,749		90,588
Unpaid policy claims		4,561		4,836
Unearned premiums		1,825		2,576
Other policyholders' funds		6,123		7,072
Total policy liabilities		93,258		105,072
Income taxes		1,296		4,339
Payables for return of cash collateral on loaned securities		1,809		2,162
Notes payable and lease obligations		7,442		7,956
Other Liabilities		4,847		4,760
Total liabilities		108,652		124,289
Commitments and contingent liabilities
Shareholders' equity:
Common stock		135		135
Additional paid-in capital		2,641		2,529
Retained earnings		44,568		41,381
Accumulated other comprehensive income (loss):
Unrealized foreign currency translation gains (losses)		(3,640)		(2,013)
Unrealized gains (losses) on fixed maturity securities		(702)		9,602
Unrealized gains (losses) on derivatives		(27)		(30)
Pension liability adjustment		(36)		(166)
Treasury stock, at average cost		(20,574)		(18,185)
Stockholders' Equity Attributable to Parent		22,365		33,253		$ 33,559	$ 28,959
Total liabilities and shareholders' equity		131,017		157,542
Accounting Standards Update 2018-12 | Pro Forma
Investments and cash:
Held to maturity, fixed maturity securities		19,056		22,000
Equity securities		1,091		1,603
Commercial mortgage and other loans		13,496		11,786
Other investments		4,070		3,842
Cash and cash equivalents		3,943		5,051
Total investments and cash		117,397		142,978
Receivables		647		672
Accrued investment income		745		737
Deferred policy acquisition costs	[2]	9,239		9,848
Property and equipment, at cost less accumulated depreciation		530		538
Other	[3]	3,180		3,377
Assets		131,738		158,150
Policy liabilities:
Future policy benefits	[4],[5],[6]	88,241		115,964
Unpaid policy claims	[5],[7]	201		151
Unearned premiums		1,825		2,576
Other policyholders' funds	[7]	6,643		7,640
Total policy liabilities		96,910		126,331
Income taxes	[8]	698		30
Payables for return of cash collateral on loaned securities		1,809		2,162
Notes payable and lease obligations		7,442		7,956
Other Liabilities	[4]	4,739		4,640
Total liabilities		111,598		141,119
Commitments and contingent liabilities
Shareholders' equity:
Common stock		135		135
Additional paid-in capital		2,641		2,529
Retained earnings		44,367	[9]	40,963	[10]
Accumulated other comprehensive income (loss):
Unrealized foreign currency translation gains (losses)	[11]	(3,564)		(1,985)
Unrealized gains (losses) on fixed maturity securities		(702)		9,602
Unrealized gains (losses) on derivatives		(27)		(30)
Effect of changes in discount rate assumptions		(2,100)	[12]	(15,832)	[13]
Pension liability adjustment		(36)		(166)
Treasury stock, at average cost		(20,574)		(18,185)
Stockholders' Equity Attributable to Parent		20,140		17,031
Total liabilities and shareholders' equity		131,738		158,150
Accounting Standards Update 2018-12 | As Reported | Pro Forma
Investments and cash:
Held to maturity, fixed maturity securities		19,056		22,000
Equity securities		1,091		1,603
Commercial mortgage and other loans		13,496		11,786
Other investments		4,070		3,842
Cash and cash equivalents		3,943		5,051
Total investments and cash		117,397		142,978
Receivables		647		672
Accrued investment income		745		737
Deferred policy acquisition costs	[2]	8,593		9,525
Property and equipment, at cost less accumulated depreciation		530		538
Other	[3]	3,105		3,092
Assets		131,017		157,542
Policy liabilities:
Future policy benefits	[4],[5],[6]	80,749		90,588
Unpaid policy claims	[5],[7]	4,561		4,836
Unearned premiums		1,825		2,576
Other policyholders' funds	[7]	6,123		7,072
Total policy liabilities		93,258		105,072
Income taxes	[8]	1,296		4,339
Payables for return of cash collateral on loaned securities		1,809		2,162
Notes payable and lease obligations		7,442		7,956
Other Liabilities	[4]	4,847		4,760
Total liabilities		108,652		124,289
Commitments and contingent liabilities
Shareholders' equity:
Common stock		135		135
Additional paid-in capital		2,641		2,529
Retained earnings		44,568	[9]	41,381	[10]
Accumulated other comprehensive income (loss):
Unrealized foreign currency translation gains (losses)	[11]	(3,640)		(2,013)
Unrealized gains (losses) on fixed maturity securities		(702)		9,602
Unrealized gains (losses) on derivatives		(27)		(30)
Effect of changes in discount rate assumptions		0	[12]	0	[13]
Pension liability adjustment		(36)		(166)
Treasury stock, at average cost		(20,574)		(18,185)
Stockholders' Equity Attributable to Parent		22,365		33,253
Total liabilities and shareholders' equity		131,017		157,542
Accounting Standards Update 2018-12 | Adoption Impacts | Pro Forma
Investments and cash:
Held to maturity, fixed maturity securities		0		0
Equity securities		0		0
Commercial mortgage and other loans		0		0
Other investments		0		0
Cash and cash equivalents		0		0
Total investments and cash		0		0
Receivables		0		0
Accrued investment income		0		0
Deferred policy acquisition costs	[2]	646		323
Property and equipment, at cost less accumulated depreciation		0		0
Other	[3]	75		285
Assets		721		608
Policy liabilities:
Future policy benefits	[4],[5],[6]	7,492		25,376
Unpaid policy claims	[5],[7]	(4,360)		(4,685)
Unearned premiums		0		0
Other policyholders' funds	[7]	520		568
Total policy liabilities		3,652		21,259
Income taxes	[8]	(598)		(4,309)
Payables for return of cash collateral on loaned securities		0		0
Notes payable and lease obligations		0		0
Other Liabilities	[4]	(108)		(120)
Total liabilities		2,946		16,830
Commitments and contingent liabilities
Shareholders' equity:
Common stock		0		0
Additional paid-in capital		0		0
Retained earnings		(201)	[9]	(418)	[10]
Accumulated other comprehensive income (loss):
Unrealized foreign currency translation gains (losses)	[11]	76		28
Unrealized gains (losses) on fixed maturity securities		0		0
Unrealized gains (losses) on derivatives		0		0
Effect of changes in discount rate assumptions		(2,100)	[12]	(15,832)	[13]
Pension liability adjustment		0		0
Treasury stock, at average cost		0		0
Stockholders' Equity Attributable to Parent		(2,225)		(16,222)
Total liabilities and shareholders' equity		721		608
Consolidated Entity, Excluding VIE | Accounting Standards Update 2018-12 | Pro Forma
Investments and cash:
Available for sale, fixed maturity securities		71,936		94,206
Consolidated Entity, Excluding VIE | Accounting Standards Update 2018-12 | As Reported | Pro Forma
Investments and cash:
Available for sale, fixed maturity securities		71,936		94,206
Consolidated Entity, Excluding VIE | Accounting Standards Update 2018-12 | Adoption Impacts | Pro Forma
Investments and cash:
Available for sale, fixed maturity securities		0		0
Variable Interest Entity, Consolidated
Investments and cash:
Available for sale, fixed maturity securities		3,805		4,490
Commercial mortgage and other loans	[14]	10,832		9,740
Other investments	[14],[15]	1,909		1,535
Policy liabilities:
Total liabilities	[14]	390		414
Variable Interest Entity, Consolidated | Accounting Standards Update 2018-12 | Pro Forma
Investments and cash:
Available for sale, fixed maturity securities		3,805		4,490
Variable Interest Entity, Consolidated | Accounting Standards Update 2018-12 | As Reported | Pro Forma
Investments and cash:
Available for sale, fixed maturity securities		3,805		4,490
Variable Interest Entity, Consolidated | Accounting Standards Update 2018-12 | Adoption Impacts | Pro Forma
Investments and cash:
Available for sale, fixed maturity securities		$ 0		$ 0
[1]Net of allowance for credit losses[2]Adjustment reflects an increase in DAC assets as a result of DAC being amortized over the expected life of a contract and no interest accretion recorded under the updated standard.[3]Adjustment reflects the discounting of reinsurance recoverables under the updated standard.[4]Adjustment for the reclassification of accrued claim adjustment expenses from other liabilities to future policy benefits as a component of the integrated reserve.[5]Adjustment for the reclassification of unpaid policy claims for long-duration contracts to future policy benefits as a component of the integrated reserve.[6]Adjustment reflects the impacts of adopting the standard and post-adoption impacts including calculating benefit reserves using revised net premium ratios and an increase in the deferred profit liability on limited-payment products[7]Adjustment for the reclassification of the claims liability for certain fixed annuity benefits from unpaid policy claims to other policyholders' funds.[8]Adjustment reflects the tax effects from adoption and post-adoption activity under the updated standard.[9]Adjustment reflects the cumulative impact from adoption and post-adoption activity under the updated standard, including the increase in 2022 net earnings of $217.[10]Adjustment reflects the impacts from adoption of ($324) as a result of capping the net premium ratio at 100% for cohorts that are in a loss position at transition and post-adoption activity under the updated standard, including the decrease in 2021 net earnings of $(94).[11]Adjustment reflects foreign currency translation related to the updated standard, as applicable.[12]Adjustment reflects the cumulative impact from adoption and post-adoption activity under the updated standard, including an increase of $13,732 in 2022 due to changes in the discount rate assumptions.[13]Adjustment reflects the impacts from adoption of ($18,570) and post-adoption activity under the updated standard, including $2,738 in 2021 due to changes in the discount rate assumptions[14]Net of allowance for credit losses[15]Consists entirely of alternative investments in limited partnerships

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Impact from Adoption on Balance Sheet (Details 2) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020	Jan. 01, 2021
Retained earnings	$ 44,568		$ 41,381
Net earnings	4,201		4,325		$ 4,778
Accounting Standards Update 2018-12 | Pro Forma
Retained earnings	44,367	[1]	40,963	[2]
Net earnings	4,418		4,231
Effect of changes in discount rate assumptions	(2,100)	[3]	(15,832)	[4]
Accounting Standards Update 2018-12 | Pro Forma | Cumulative effect, period of adoption, adjustment
Retained earnings						$ (300)
Accounting Standards Update 2018-12 | Adoption Impacts | Pro Forma
Retained earnings	(201)	[1]	(418)	[2]
Net earnings	217		(94)
Effect of changes in discount rate assumptions	(2,100)	[3]	(15,832)	[4]
Effect of changes in discount rate assumptions during period, net of income taxes	$ 13,732		$ 2,738
Accounting Standards Update 2018-12 | Adoption Impacts | Pro Forma | Cumulative effect, period of adoption, adjustment
Retained earnings						(324)
Effect of changes in discount rate assumptions						$ (18,570)
[1]Adjustment reflects the cumulative impact from adoption and post-adoption activity under the updated standard, including the increase in 2022 net earnings of $217.[2]Adjustment reflects the impacts from adoption of ($324) as a result of capping the net premium ratio at 100% for cohorts that are in a loss position at transition and post-adoption activity under the updated standard, including the decrease in 2021 net earnings of $(94).[3]Adjustment reflects the cumulative impact from adoption and post-adoption activity under the updated standard, including an increase of $13,732 in 2022 due to changes in the discount rate assumptions.[4]Adjustment reflects the impacts from adoption of ($18,570) and post-adoption activity under the updated standard, including $2,738 in 2021 due to changes in the discount rate assumptions

SUMMARY OF SIGNIFICANT ACCOUN_8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Summary of Signficant Accounting Policies - Additional Information (Detail) $ in Millions		12 Months Ended
		Dec. 31, 2022 USD ($) segment		Dec. 31, 2021 USD ($)		Dec. 31, 2020 USD ($)	Jan. 01, 2023 USD ($)	Jan. 01, 2021 USD ($)	Jan. 01, 2020 USD ($)	Dec. 31, 2019 USD ($)
Significant Accounting Policies [Line Items]
Number of reportable insurance business segments | segment		2
Goodwill		$ 265		$ 268
Stockholders' Equity Attributable to Parent		22,365		33,253		$ 33,559				$ 28,959
Accumulated Other Comprehensive Income (Loss), Net of Tax		(4,405)		7,393		$ 8,934				6,615
Retained earnings		44,568		41,381
Amortized Cost		75,469		85,369
Held-to-maturity securities		$ (19,063)		$ (22,008)
Aflac Japan
Significant Accounting Policies [Line Items]
Percentage of the Company's total revenues		69%		69%		68%
Percentage of the Company's total assets		80%		82%
Accounting Standards Update 2019-04
Significant Accounting Policies [Line Items]
New accounting pronouncement or change in accounting principle effect of adoption unrealized gain loss net of tax reclassification to accumulated other comprehensive income									$ 848
Accounting Standards Update 2019-04 | Revision of Prior Period, Accounting Standards Update, Adjustment
Significant Accounting Policies [Line Items]
Amortized Cost						$ 6,900
Held-to-maturity securities						6,900
Accounting Standards Update 2019-04 | Cumulative effect, period of adoption, adjustment
Significant Accounting Policies [Line Items]
Stockholders' Equity Attributable to Parent	[1]									848
Accumulated Other Comprehensive Income (Loss), Net of Tax										848
Accounting Standards Update 2016-13 | Cumulative effect, period of adoption, adjustment
Significant Accounting Policies [Line Items]
Stockholders' Equity Attributable to Parent	[1]									(56)
Accounting Standards Update 2018-12 | Pro Forma
Significant Accounting Policies [Line Items]
Stockholders' Equity Attributable to Parent		$ 20,140		$ 17,031
Retained earnings		44,367	[2]	40,963	[3]
Accounting Standards Update 2018-12 | Cumulative effect, period of adoption, adjustment | Pro Forma
Significant Accounting Policies [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax								$ (18,600)
Retained earnings								$ (300)
Accounting Standards Update 2018-12 | Cumulative effect, period of adoption, adjustment | Forecast
Significant Accounting Policies [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax							$ (2,100)
Accumulated other comprehensive income (loss)
Significant Accounting Policies [Line Items]
Stockholders' Equity Attributable to Parent		(4,405)		7,393		8,934				6,615
Accumulated other comprehensive income (loss) | Accounting Standards Update 2019-04 | Cumulative effect, period of adoption, adjustment
Significant Accounting Policies [Line Items]
Stockholders' Equity Attributable to Parent	[1]									848
Accumulated other comprehensive income (loss) | Accounting Standards Update 2016-13 | Cumulative effect, period of adoption, adjustment
Significant Accounting Policies [Line Items]
Stockholders' Equity Attributable to Parent	[1]									0
Retained earnings
Significant Accounting Policies [Line Items]
Stockholders' Equity Attributable to Parent		$ 44,568		$ 41,381		$ 37,984				34,291
Retained earnings | Accounting Standards Update 2019-04 | Cumulative effect, period of adoption, adjustment
Significant Accounting Policies [Line Items]
Stockholders' Equity Attributable to Parent	[1]									0
Retained earnings | Accounting Standards Update 2016-13 | Cumulative effect, period of adoption, adjustment
Significant Accounting Policies [Line Items]
Stockholders' Equity Attributable to Parent									$ (56)	$ (56)	[1]
[1]See Note 1 of the Notes to the Consolidated Financial Statements for the adoption of accounting guidance on January 1, 2020.[2]Adjustment reflects the cumulative impact from adoption and post-adoption activity under the updated standard, including the increase in 2022 net earnings of $217.[3]Adjustment reflects the impacts from adoption of ($324) as a result of capping the net premium ratio at 100% for cohorts that are in a loss position at transition and post-adoption activity under the updated standard, including the decrease in 2021 net earnings of $(94).

BUSINESS SEGMENT AND FOREIGN _3

BUSINESS SEGMENT AND FOREIGN INFORMATION - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) segment	Dec. 31, 2021 USD ($)
Segment Reporting Information [Line Items]
Number of reportable insurance business segments | segment	2
Total receivables related to Aflac Japan's operations	$ 647	$ 672
Aflac Japan
Segment Reporting Information [Line Items]
Total receivables related to Aflac Japan's operations	$ 174	$ 195
Percentage of total receivables related to Aflac Japan's operations	27%	29%
Maximum | Machinery and equipment
Segment Reporting Information [Line Items]
Property, Plant and Equipment, Useful Life	20 years
Maximum | Building
Segment Reporting Information [Line Items]
Property, Plant and Equipment, Useful Life	50 years
Maximum | Furniture and fixtures
Segment Reporting Information [Line Items]
Property, Plant and Equipment, Useful Life	20 years

BUSINESS SEGMENT AND FOREIGN _4

BUSINESS SEGMENT AND FOREIGN INFORMATION - Operations by Segment - Revenues (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting, Revenue Reconciling Item [Line Items]
Net earned premiums, principally supplemental health insurance		$ 15,263	$ 17,647	$ 18,622
Total revenues		19,502	22,106	22,147
Total adjusted revenues		19,005	21,589	22,320
Net investment gains (losses)	[1],[2],[3],[4]	497	517	(173)
Life insurance
Segment Reporting, Revenue Reconciling Item [Line Items]
Net earned premiums, principally supplemental health insurance		2,354	2,956	3,253
Aflac Japan
Segment Reporting, Revenue Reconciling Item [Line Items]
Net earned premiums, principally supplemental health insurance		9,548	11,853	12,670
Adjusted net investment income	[1],[4]	2,669	3,031	2,659
Other income (loss)		35	41	42
Total revenues		12,252	14,925	15,371
Hedge costs		112	76	206
Net interest cash flows from derivatives		(86)	(33)	9
Aflac Japan | Cancer
Segment Reporting, Revenue Reconciling Item [Line Items]
Net earned premiums, principally supplemental health insurance		4,791	5,829	6,119
Aflac Japan | Medical and other health
Segment Reporting, Revenue Reconciling Item [Line Items]
Net earned premiums, principally supplemental health insurance		2,775	3,400	3,596
Aflac Japan | Life insurance
Segment Reporting, Revenue Reconciling Item [Line Items]
Net earned premiums, principally supplemental health insurance		1,982	2,624	2,955
Aflac U.S.
Segment Reporting, Revenue Reconciling Item [Line Items]
Net earned premiums, principally supplemental health insurance		5,570	5,614	5,758
Adjusted net investment income	[3]	755	754	705
Other income (loss)		161	121	102
Total revenues		6,486	6,489	6,565
Net interest cash flows from derivatives		(4)	2	3
Aflac U.S. | Accident
Segment Reporting, Revenue Reconciling Item [Line Items]
Net earned premiums, principally supplemental health insurance		1,314	1,362	1,449
Aflac U.S. | Disability
Segment Reporting, Revenue Reconciling Item [Line Items]
Net earned premiums, principally supplemental health insurance		1,171	1,162	1,165
Aflac U.S. | Critical care
Segment Reporting, Revenue Reconciling Item [Line Items]
Net earned premiums, principally supplemental health insurance		1,753	1,797	1,856
Aflac U.S. | Hospital indemnity
Segment Reporting, Revenue Reconciling Item [Line Items]
Net earned premiums, principally supplemental health insurance		722	730	747
Aflac U.S. | Dental/vision
Segment Reporting, Revenue Reconciling Item [Line Items]
Net earned premiums, principally supplemental health insurance		199	188	196
Aflac U.S. | Life insurance
Segment Reporting, Revenue Reconciling Item [Line Items]
Net earned premiums, principally supplemental health insurance		372	332	298
Aflac U.S. | Other
Segment Reporting, Revenue Reconciling Item [Line Items]
Net earned premiums, principally supplemental health insurance		39	43	47
Corporate and other
Segment Reporting, Revenue Reconciling Item [Line Items]
Net earned premiums, principally supplemental health insurance		145	180	194
Total revenues	[2],[5]	267	175	384
Hedge income		68	57	$ 97
Change in value of federal historic rehabilitation and solar tax credit investments		(91)	(138)
Federal historic rehabilitation and solar tax credits, amount		$ 83	$ 115
[1]Amortized hedge costs of $112, $76 and $206 in 2022, 2021 and 2020, respectively, related to certain foreign currency exposure management strategies have been reclassified from net investment gains (losses) and reported as a deduction from net investment income when analyzing operations.[2]Amortized hedge income of $68, $57 and $97 in 2022, 2021 and 2020, respectively, related to certain foreign currency exposure management strategies has been reclassified from net investment gains (losses) and reported as an increase to net investment income when analyzing operations.[3]Net interest cash flows from derivatives associated with certain investment strategies of $(4), $2 and $3 in 2022, 2021 and 2020, respectively, have been reclassified from net investment gains (losses) and included in adjusted earnings as a component of net investment income when analyzing operations.[4]Net interest cash flows from derivatives associated with certain investment strategies of $(86), $(33) and $9 in 2022, 2021 and 2020, respectively, have been reclassified from net investment gains (losses) and included in adjusted earnings as a component of net investment income when analyzing operations.[5]The change in value of federal historic rehabilitation and solar investments in partnerships of $91 and $138 in 2022 and 2021, respectively, is included as a reduction to net investment income. Tax credits on these investments of $83 and $115 in 2022 and 2021, respectively, have been recorded as an income tax benefit in the consolidated statement of earnings. See Note 3 of the Notes to the Consolidated Financial Statements for additional information on these investments.

BUSINESS SEGMENT AND FOREIGN _5

BUSINESS SEGMENT AND FOREIGN INFORMATION - Operations by Segment - Pretax Earnings (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Pretax adjusted earnings	[1]	$ 4,157	$ 4,934	$ 4,416
Net investment gains (losses)	[2],[3],[4],[5],[6]	447	462	(229)
Other income (loss)		0	(74)	(28)
Earnings before income taxes		4,604	5,322	4,159
Income taxes applicable to pretax adjusted earnings		760	915	864
Effect of foreign currency translation on after tax adjusted earnings		(215)	(38)	31
Interest expense on debt		167	170	167
Aflac Japan
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Pretax adjusted earnings	[3],[6]	3,056	3,754	3,263
Hedge costs		112	76	206
Net interest cash flows from derivatives		(86)	(33)	9
Aflac U.S.
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Pretax adjusted earnings	[5]	1,324	1,478	1,268
Net interest cash flows from derivatives		(4)	2	3
Corporate and other
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Pretax adjusted earnings	[2],[4],[7]	(223)	(298)	(115)
Hedge income		68	57	97
Gain (loss) on change in fair value of derivative, interest rate component		50	55	$ 56
Change in value of federal historic rehabilitation and solar tax credit investments		(91)	(138)
Federal historic rehabilitation and solar tax credits, amount		$ 83	$ 115
[1]Includes $167, $170 and $167 of interest expense on debt in 2022, 2021 and 2020, respectively.[2] A gain of $50, $55 and $56 in 2022, 2021 and 2020, respectively, related to the interest rate component of the change in fair value of foreign currency swaps on notes payable has been reclassified from net investment gains (losses) and included in adjusted earnings when analyzing operations.

BUSINESS SEGMENT AND FOREIGN _6

BUSINESS SEGMENT AND FOREIGN INFORMATION - Operations by Segment - Assets (Detail) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 131,017	$ 157,542
Aflac Japan
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	105,173	128,536
Aflac U.S.
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	20,779	23,106
Corporate and other
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 5,065	$ 5,900

BUSINESS SEGMENT AND FOREIGN _7

BUSINESS SEGMENT AND FOREIGN INFORMATION - Yen/Dollar Exchange Rates Used (Detail) $ in Millions		12 Months Ended
		Dec. 31, 2022 USD ($) ¥ / $	Dec. 31, 2021 USD ($) ¥ / $	Dec. 31, 2020 USD ($) ¥ / $
Segment Reporting, Other Significant Reconciling Item [Line Items]
Weighted-average yen/dollar exchange rate | ¥ / $	[1]	130.17	109.79	106.86
Yen percent strengthening (weakening)		(15.70%)	(2.70%)	2.10%
Exchange effect on pretax operating earnings (in millions)		$ (263)	$ (47)	$ 38
Yen/dollar exchange rate at December 31 | ¥ / $	[1]	132.70	115.02
Yen percent strengthening (weakening)		(13.30%)	(10.00%)
Exchange effect on total assets
Segment Reporting, Other Significant Reconciling Item [Line Items]
Exchange effect		$ (10,936)	$ (9,635)
Exchange effect on total liabilities
Segment Reporting, Other Significant Reconciling Item [Line Items]
Exchange effect		$ (9,589)	$ (7,566)
[1]Rates are based on the published MUFG Bank, Ltd. telegraphic transfer middle rate (TTM)

BUSINESS SEGMENT AND FOREIGN _8

BUSINESS SEGMENT AND FOREIGN INFORMATION - Information on Transfers of Funds from Aflac Japan (Detail) $ in Millions, ¥ in Billions	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2022 JPY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 JPY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2020 JPY (¥)
Segment Reporting [Abstract]
Management fees	$ 61		$ 59		$ 71
Profit remittances	2,412	¥ 324.2	2,138	¥ 236.7	1,215	¥ 129.8
Total transfers from Aflac Japan	$ 2,473		$ 2,197		$ 1,286

BUSINESS SEGMENT AND FOREIGN _9

BUSINESS SEGMENT AND FOREIGN INFORMATION - Classes of Property and Equipment (Detail) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Property and equipment:
Land	$ 168	$ 168
Buildings	437	491
Equipment	587	542
Total property and equipment	1,192	1,201
Less accumulated depreciation	662	663
Net property and equipment	$ 530	$ 538

INVESTMENTS - Components of Net

INVESTMENTS - Components of Net Investment Income (Detail) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income		$ 3,882	$ 4,036	$ 3,850
Less investment expenses		226	218	212
Net investment income		3,656	3,818	3,638
Corporate and other
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Net investment income		30	(73)	80
Change in value of federal historic rehabilitation and solar tax credit investments		(91)	(138)
Federal historic rehabilitation and solar tax credits, amount		83	115
Fixed maturity securities
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income		2,926	3,068	3,113
Equity securities
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income		31	35	29
Commercial mortgage and other loans
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income		716	570	545
Other investments
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income	[1]	131	356	145
Short-term investments and cash equivalents
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income		$ 78	$ 7	$ 18
[1]The change in value of federal historic rehabilitation and solar investments in partnerships of $91 in 2022 and $138 in 2021 is included as a reduction to net investment income. Tax credits on these investments of $83 in 2022 and $115 in 2021 have been recorded as an income tax benefit in the consolidated statement of earnings.

INVESTMENTS - Available-for-Sal

INVESTMENTS - Available-for-Sale Debt Securities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	$ 75,469	$ 85,369
Allowance for Credit Losses	0	0
Gross Unrealized Gains	4,800	13,566
Gross Unrealized Losses	4,528	239
Fair Value	75,741	98,696
Yen-denominated
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	43,920	51,160
Allowance for Credit Losses	0	0
Gross Unrealized Gains	2,595	6,994
Gross Unrealized Losses	2,849	167
Fair Value	43,666	57,987
Dollar-denominated
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	31,549	34,209
Allowance for Credit Losses	0	0
Gross Unrealized Gains	2,205	6,572
Gross Unrealized Losses	1,679	72
Fair Value	32,075	40,709
Japan government and agencies | Yen-denominated
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	25,418	30,335
Allowance for Credit Losses	0	0
Gross Unrealized Gains	1,259	3,343
Gross Unrealized Losses	1,724	61
Fair Value	24,953	33,617
Municipalities
Debt Securities, Available-for-Sale [Line Items]
Fair Value	2,320	3,036
Municipalities | Yen-denominated
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	1,034	1,192
Allowance for Credit Losses	0	0
Gross Unrealized Gains	124	322
Gross Unrealized Losses	61	5
Fair Value	1,097	1,509
Municipalities | Dollar-denominated
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	1,269	1,340
Allowance for Credit Losses	0	0
Gross Unrealized Gains	43	189
Gross Unrealized Losses	89	2
Fair Value	1,223	1,527
Mortgage- and asset-backed securities
Debt Securities, Available-for-Sale [Line Items]
Fair Value	2,146	1,246
Mortgage- and asset-backed securities | Yen-denominated
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	241	300
Allowance for Credit Losses	0	0
Gross Unrealized Gains	8	19
Gross Unrealized Losses	12	1
Fair Value	237	318
Mortgage- and asset-backed securities | Dollar-denominated
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	1,926	897
Allowance for Credit Losses	0	0
Gross Unrealized Gains	67	33
Gross Unrealized Losses	84	2
Fair Value	1,909	928
Public utilities
Debt Securities, Available-for-Sale [Line Items]
Fair Value	7,666	10,051
Public utilities | Yen-denominated
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	3,932	4,462
Allowance for Credit Losses	0	0
Gross Unrealized Gains	301	906
Gross Unrealized Losses	108	2
Fair Value	4,125	5,366
Public utilities | Dollar-denominated
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	3,481	3,781
Allowance for Credit Losses	0	0
Gross Unrealized Gains	240	909
Gross Unrealized Losses	180	5
Fair Value	3,541	4,685
Sovereign and supranational
Debt Securities, Available-for-Sale [Line Items]
Fair Value	834	1,115
Sovereign and supranational | Yen-denominated
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	659	760
Allowance for Credit Losses	0	0
Gross Unrealized Gains	24	82
Gross Unrealized Losses	5	0
Fair Value	678	842
Sovereign and supranational | Dollar-denominated
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	133	222
Allowance for Credit Losses	0	0
Gross Unrealized Gains	35	57
Gross Unrealized Losses	12	6
Fair Value	156	273
Banks/financial institutions
Debt Securities, Available-for-Sale [Line Items]
Fair Value	9,299	11,591
Banks/financial institutions | Yen-denominated
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	6,348	6,963
Allowance for Credit Losses	0	0
Gross Unrealized Gains	324	787
Gross Unrealized Losses	531	72
Fair Value	6,141	7,678
Banks/financial institutions | Dollar-denominated
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	2,992	3,169
Allowance for Credit Losses	0	0
Gross Unrealized Gains	271	747
Gross Unrealized Losses	105	3
Fair Value	3,158	3,913
Other corporate
Debt Securities, Available-for-Sale [Line Items]
Fair Value	28,362	37,837
Other corporate | Yen-denominated
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	6,288	7,148
Allowance for Credit Losses	0	0
Gross Unrealized Gains	555	1,535
Gross Unrealized Losses	408	26
Fair Value	6,435	8,657
Other corporate | Dollar-denominated
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	21,579	24,604
Allowance for Credit Losses	0	0
Gross Unrealized Gains	1,549	4,629
Gross Unrealized Losses	1,201	53
Fair Value	21,927	29,180
U.S. government and agencies | Dollar-denominated
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	169	196
Allowance for Credit Losses	0	0
Gross Unrealized Gains	0	8
Gross Unrealized Losses	8	1
Fair Value	$ 161	$ 203

INVESTMENTS - Held-to-Maturity

INVESTMENTS - Held-to-Maturity Debt Securities (Details) - USD ($) $ in Millions	Dec. 31, 2022		Dec. 31, 2021
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 19,063		$ 22,008
Allowance for Credit Losses	7		8
Total fixed maturity securities held to maturity	19,056	[1]	22,000
Gross Unrealized Gains	2,154		4,869
Gross Unrealized Losses	0		0
Fair Value	21,210		26,869
Municipalities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	287		335
Fair Value	335		436
Public utilities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	37		43
Fair Value	41		55
Sovereign and supranational
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	446		514
Fair Value	500		650
Other corporate
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	19		22
Fair Value	22		29
Yen-denominated
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	19,063		22,008
Allowance for Credit Losses	7		8
Total fixed maturity securities held to maturity	19,056		22,000
Gross Unrealized Gains	2,154		4,869
Gross Unrealized Losses	0		0
Fair Value	21,210		26,869
Yen-denominated | Japan government and agencies
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	18,269		21,089
Allowance for Credit Losses	2		3
Total fixed maturity securities held to maturity	18,267		21,086
Gross Unrealized Gains	2,045		4,613
Gross Unrealized Losses	0		0
Fair Value	20,312		25,699
Yen-denominated | Municipalities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	287		335
Allowance for Credit Losses	0		0
Total fixed maturity securities held to maturity	287		335
Gross Unrealized Gains	48		101
Gross Unrealized Losses	0		0
Fair Value	335		436
Yen-denominated | Public utilities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	38		44
Allowance for Credit Losses	1		1
Total fixed maturity securities held to maturity	37		43
Gross Unrealized Gains	4		12
Gross Unrealized Losses	0		0
Fair Value	41		55
Yen-denominated | Sovereign and supranational
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	450		518
Allowance for Credit Losses	4		4
Total fixed maturity securities held to maturity	446		514
Gross Unrealized Gains	54		136
Gross Unrealized Losses	0		0
Fair Value	500		650
Yen-denominated | Other corporate
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	19		22
Allowance for Credit Losses	0		0
Total fixed maturity securities held to maturity	19		22
Gross Unrealized Gains	3		7
Gross Unrealized Losses	0		0
Fair Value	$ 22		$ 29
[1]Net of allowance for credit losses

INVESTMENTS - Equity Securities

INVESTMENTS - Equity Securities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Equity Securities, FV-NI [Line Items]
Equity securities	$ 1,091	$ 1,603
Yen-denominated
Equity Securities, FV-NI [Line Items]
Equity securities	670	744
Dollar-denominated
Equity Securities, FV-NI [Line Items]
Equity securities	374	817
Other currencies
Equity Securities, FV-NI [Line Items]
Equity securities	$ 47	$ 42

INVESTMENTS - Contractual and E

INVESTMENTS - Contractual and Economic Maturities of Investments in Fixed Maturities (Detail) - USD ($) $ in Millions		Dec. 31, 2022		Dec. 31, 2021
Available for sale, amortized cost:
Due in one year or less	[1]	$ 1,777
Due after one year through five years	[1]	6,806
Due after five years through 10 years	[1]	15,467
Due after 10 years	[1]	49,252
Mortgage- and asset-backed securities	[1]	2,167
Total fixed maturity securities available for sale	[1]	75,469
Held to maturity, amortized cost:
Due in one year or less	[1]	0
Due after one year through five years	[1]	40
Due after five years through 10 years	[1]	10,132
Due after 10 years	[1]	8,884
Mortgage- and asset-backed securities	[1]	0
Total fixed maturity securities held to maturity		19,056	[1]	$ 22,000
Available for sale, fair value:
Due in one year or less		1,894
Due after one year through five years		7,080
Due after five years through 10 years		16,498
Due after 10 years		48,123
Mortgage- and asset-backed securities		2,146
Available for sale, fixed maturity securities		75,741		98,696
Held to maturity, fair value:
Due in one year or less		0
Due after one year through five years		42
Due after five years through 10 years		11,212
Due after 10 years		9,956
Mortgage- and asset-backed securities		0
Held to maturity, fixed maturity securities, fair value		$ 21,210		$ 26,869
[1]Net of allowance for credit losses

INVESTMENTS - Investment Exposu

INVESTMENTS - Investment Exposures Individually Exceeded 10% of Shareholders' Equity (Detail) - Japan National Government - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021
Summary of Investment Holdings [Line Items]
Credit Rating	[1]	A+	A+
Amortized Cost	[1]	$ 42,618	$ 50,186
Fair Value	[1]	$ 44,178	$ 57,862
[1]Japan Government Bonds (JGBs) or JGB-backed securities

INVESTMENTS - Information Regar

INVESTMENTS - Information Regarding Pretax Net Gains and Losses From Investments (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Gain (Loss) on Securities [Line Items]
Total net investment gains (losses)	$ 363	$ 468	$ (270)
Credit Losses
Fixed maturity securities available for sale	0	38	(38)
Fixed maturity securities held to maturity	0	1	1
Commercial mortgage and other loans	(18)	6	(93)
Impairment losses	(25)	(20)	(49)
Loan commitments	9	4	(21)
Reinsurance recoverables and other	(2)	(2)	0
Total credit losses	(36)	27	(200)
Derivatives and Other
Derivative gains (losses)	(1,151)	(805)	399
Foreign currency gains (losses)	1,424	1,069	(568)
Derivatives and other
Gain (Loss) on Securities [Line Items]
Total net investment gains (losses)	273	264	(169)
Fixed maturity securities
Gain (Loss) on Securities [Line Items]
Gross gains from sales	93	64	31
Gross losses from sales	(78)	(52)	(47)
Foreign currency gains (losses) on sales and redemptions	442	1	(69)
Total net investment gains (losses)	467	13	(85)
Other Investments
Gain (Loss) on Securities [Line Items]
Gross gains from sales	10	0	0
Equity securities
Gain (Loss) on Securities [Line Items]
Total net investment gains (losses)	$ (341)	$ 164	$ 184

INVESTMENTS - Information Reg_2

INVESTMENTS - Information Regarding Changes in Unrealized Gains and Losses from Investments (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Changes in unrealized gains (losses):
Changes in unrealized gains (losses)	$ (13,056)	$ (960)	$ 2,399
Fixed maturity securities | Available-for-sale securities
Changes in unrealized gains (losses):
Changes in unrealized gains (losses)	$ (13,056)	$ (960)	$ 2,399

INVESTMENTS - Net Effect on Sha

INVESTMENTS - Net Effect on Shareholders' Equity of Unrealized Gains and Losses from Investment Securities (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Investments [Abstract]
Unrealized gains (losses) on securities available for sale	$ 272	$ 13,330
Deferred income taxes	(974)	(3,728)
Unrealized gains (losses) on fixed maturity securities	$ (702)	$ 9,602

INVESTMENTS - Fair Value and Gr

INVESTMENTS - Fair Value and Gross Unrealized Losses for Securities That Have Been in Continuous Unrealized Loss Position (Details) - Fixed Maturities [Member] - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Investments, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total	$ 4,528	$ 239
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	2,213	42
Debt Securities, Available-for-sale, Unrealized Loss Position, Total	31,709	7,914
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	20,347	2,948
12 months or longer Unrealized Losses	11,362	4,966
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	2,315	197
Dollar-denominated | U.S. government and agencies
Investments, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total	8	1
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	3	1
Debt Securities, Available-for-sale, Unrealized Loss Position, Total	159	1
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	85	0
12 months or longer Unrealized Losses	74	1
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	5	0
Dollar-denominated | Municipalities
Investments, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total	89	2
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	57	2
Debt Securities, Available-for-sale, Unrealized Loss Position, Total	854	82
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	735	79
12 months or longer Unrealized Losses	119	3
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	32	0
Dollar-denominated | Mortgage- and asset-backed securities
Investments, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total	84	2
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	42	2
Debt Securities, Available-for-sale, Unrealized Loss Position, Total	936	278
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	640	278
12 months or longer Unrealized Losses	296	0
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	42	0
Dollar-denominated | Public utilities
Investments, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total	180	5
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	144	2
Debt Securities, Available-for-sale, Unrealized Loss Position, Total	1,852	130
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	1,667	70
12 months or longer Unrealized Losses	185	60
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	36	3
Dollar-denominated | Sovereign and supranational
Investments, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total	12	6
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	0	1
Debt Securities, Available-for-sale, Unrealized Loss Position, Total	30	37
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	0	6
12 months or longer Unrealized Losses	30	31
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	12	5
Dollar-denominated | Banks/financial institutions
Investments, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total	105	3
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	58	3
Debt Securities, Available-for-sale, Unrealized Loss Position, Total	1,147	292
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	786	274
12 months or longer Unrealized Losses	361	18
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	47	0
Dollar-denominated | Other corporate
Investments, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total	1,201	53
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	785	8
Debt Securities, Available-for-sale, Unrealized Loss Position, Total	10,529	1,365
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	8,636	458
12 months or longer Unrealized Losses	1,893	907
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	416	45
Yen-denominated | Japan government and agencies
Investments, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total	1,724	61
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	580	3
Debt Securities, Available-for-sale, Unrealized Loss Position, Total	8,856	2,868
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	3,733	445
12 months or longer Unrealized Losses	5,123	2,423
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	1,144	58
Yen-denominated | Municipalities
Investments, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total	61	5
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	26	0
Debt Securities, Available-for-sale, Unrealized Loss Position, Total	286	187
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	150	53
12 months or longer Unrealized Losses	136	134
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	35	5
Yen-denominated | Mortgage- and asset-backed securities
Investments, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total	12	1
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	6	0
Debt Securities, Available-for-sale, Unrealized Loss Position, Total	62	33
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	38	0
12 months or longer Unrealized Losses	24	33
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	6	1
Yen-denominated | Public utilities
Investments, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total	108	2
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	61	0
Debt Securities, Available-for-sale, Unrealized Loss Position, Total	880	26
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	576	0
12 months or longer Unrealized Losses	304	26
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	47	2
Yen-denominated | Sovereign and supranational
Investments, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total	5
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	4
Debt Securities, Available-for-sale, Unrealized Loss Position, Total	71
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	34
12 months or longer Unrealized Losses	37
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	1
Yen-denominated | Banks/financial institutions
Investments, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total	531	72
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	174	16
Debt Securities, Available-for-sale, Unrealized Loss Position, Total	3,957	2,074
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	1,760	1,011
12 months or longer Unrealized Losses	2,197	1,063
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	357	56
Yen-denominated | Other corporate
Investments, Unrealized Loss Position [Line Items]
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total	408	26
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	273	4
Debt Securities, Available-for-sale, Unrealized Loss Position, Total	2,090	541
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	1,507	274
12 months or longer Unrealized Losses	583	267
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ 135	$ 22

INVESTMENTS - Commercial Mortga

INVESTMENTS - Commercial Mortgage and Other Loans by Portfolio Segment (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	[1]
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 13,688	$ 11,960
Percent of total commercial mortgage and other loans	100%	100%
Allowance for credit losses	$ (192)	$ (174)
Total net commercial mortgage and other loans	13,496	11,786
Transitional real estate loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 6,509	$ 5,359
Percent of total commercial mortgage and other loans	47.60%	44.70%
Allowance for credit losses	$ (54)	$ (68)	$ (63)	$ (22)
Commercial mortgage loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 2,022	$ 1,904
Percent of total commercial mortgage and other loans	14.80%	15.90%
Allowance for credit losses	$ (9)	$ (10)	(32)	(3)
Middle market loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 5,157	$ 4,697
Percent of total commercial mortgage and other loans	37.60%	39.40%
Allowance for credit losses	$ (129)	$ (96)	$ (85)	$ (20)
Office | Transitional real estate loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 2,158	$ 2,001
Percent of total commercial mortgage and other loans	15.80%	16.70%
Office | Commercial mortgage loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 388	$ 398
Percent of total commercial mortgage and other loans	2.80%	3.30%
Retail | Transitional real estate loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 493	$ 267
Percent of total commercial mortgage and other loans	3.60%	2.20%
Retail | Commercial mortgage loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 310	$ 332
Percent of total commercial mortgage and other loans	2.30%	2.80%
Apartments/Multi-Family | Transitional real estate loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 2,701	$ 1,893
Percent of total commercial mortgage and other loans	19.70%	15.80%
Apartments/Multi-Family | Commercial mortgage loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 630	$ 649
Percent of total commercial mortgage and other loans	4.60%	5.40%
Industrial | Transitional real estate loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 123	$ 94
Percent of total commercial mortgage and other loans	0.90%	0.80%
Industrial | Commercial mortgage loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 694	$ 525
Percent of total commercial mortgage and other loans	5.10%	4.40%
Hospitality | Transitional real estate loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 803	$ 876
Percent of total commercial mortgage and other loans	5.90%	7.30%
Other | Transitional real estate loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 231	$ 228
Percent of total commercial mortgage and other loans	1.70%	1.90%
[1]U.S. GAAP guidance adopted as of January 1, 2020 has superseded these losses, included for comparative purposes only.

INVESTMENTS - Transitional Real

INVESTMENTS - Transitional Real Estate Loans by Key Credit Quality Indicators (Details) - Transitional real estate loans $ in Millions	Dec. 31, 2022 USD ($)
Financing Receivable, Credit Quality Indicator [Line Items]
2022	$ 2,062
2021	2,466
2020	271
2019	1,027
2018	632
Prior	51
Total Financing Receivable	6,509
Loan to Value Ratio, Zero to Fifty-nine Point Nine-nine Percent
Financing Receivable, Credit Quality Indicator [Line Items]
2022	532
2021	596
2020	36
2019	153
2018	61
Prior	0
Total Financing Receivable	1,378
Loan to Value Ratio, Sixty to Sixty-nine Point Nine-nine Percent
Financing Receivable, Credit Quality Indicator [Line Items]
2022	679
2021	769
2020	138
2019	485
2018	425
Prior	50
Total Financing Receivable	2,546
Loan to Value Ratio, Seventy to Seventy-nine Point Nine-nine Percent
Financing Receivable, Credit Quality Indicator [Line Items]
2022	787
2021	940
2020	97
2019	389
2018	146
Prior	1
Total Financing Receivable	2,360
Loan to Value Ratio Eighty Percent and Above
Financing Receivable, Credit Quality Indicator [Line Items]
2022	64
2021	161
2020	0
2019	0
2018	0
Prior	0
Total Financing Receivable	$ 225

INVESTMENTS - Commercial Mort_2

INVESTMENTS - Commercial Mortgage Loans by Key Credit Quality Indicator (Details) - Commercial mortgage loans $ in Millions	Dec. 31, 2022 USD ($)
Financing Receivable, Credit Quality Indicator [Line Items]
2022	$ 228
2021	325
2020	46
2019	596
2018	151
Prior	676
Total Financing Receivable	$ 2,022
Weighted average debt-service coverage ratio	2.14
2022
Financing Receivable, Credit Quality Indicator [Line Items]
Weighted average debt-service coverage ratio	0
2021
Financing Receivable, Credit Quality Indicator [Line Items]
Weighted average debt-service coverage ratio	2.83
2020
Financing Receivable, Credit Quality Indicator [Line Items]
Weighted average debt-service coverage ratio	1.92
2019
Financing Receivable, Credit Quality Indicator [Line Items]
Weighted average debt-service coverage ratio	2.50
2018
Financing Receivable, Credit Quality Indicator [Line Items]
Weighted average debt-service coverage ratio	2.02
Prior
Financing Receivable, Credit Quality Indicator [Line Items]
Weighted average debt-service coverage ratio	2.26
Loan to Value Ratio, Zero to Fifty-nine Point Nine-nine Percent
Financing Receivable, Credit Quality Indicator [Line Items]
2022	$ 228
2021	310
2020	46
2019	510
2018	151
Prior	492
Total Financing Receivable	$ 1,737
Weighted average debt-service coverage ratio	2.16
Loan to Value Ratio, Sixty to Sixty-nine Point Nine-nine Percent
Financing Receivable, Credit Quality Indicator [Line Items]
2022	$ 0
2021	15
2020	0
2019	46
2018	0
Prior	135
Total Financing Receivable	$ 196
Weighted average debt-service coverage ratio	2.03
Loan to Value Ratio, Seventy to Seventy-nine Point Nine-nine Percent
Financing Receivable, Credit Quality Indicator [Line Items]
2022	$ 0
2021	0
2020	0
2019	40
2018	0
Prior	24
Total Financing Receivable	$ 64
Weighted average debt-service coverage ratio	2.21
Loan to Value Ratio Eighty Percent and Above
Financing Receivable, Credit Quality Indicator [Line Items]
2022	$ 0
2021	0
2020	0
2019	0
2018	0
Prior	25
Total Financing Receivable	$ 25
Weighted average debt-service coverage ratio	1.41

INVESTMENTS - Middle Market Loa

INVESTMENTS - Middle Market Loans by Key Credit Quality Indicators (Details) - Middle market loans $ in Millions	Dec. 31, 2022 USD ($)
Financing Receivable, Credit Quality Indicator [Line Items]
2022	$ 648
2021	1,288
2020	801
2019	808
2018	412
Prior	340
Revolving Loans	860
Total Financing Receivable	5,157
BBB Credit Rating
Financing Receivable, Credit Quality Indicator [Line Items]
2022	63
2021	144
2020	70
2019	37
2018	19
Prior	0
Revolving Loans	133
Total Financing Receivable	466
BB Credit Rating
Financing Receivable, Credit Quality Indicator [Line Items]
2022	333
2021	451
2020	300
2019	203
2018	80
Prior	44
Revolving Loans	362
Total Financing Receivable	1,773
B Credit Rating
Financing Receivable, Credit Quality Indicator [Line Items]
2022	252
2021	678
2020	411
2019	483
2018	240
Prior	218
Revolving Loans	311
Total Financing Receivable	2,593
CCC Credit Rating
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0
2021	15
2020	20
2019	85
2018	59
Prior	78
Revolving Loans	53
Total Financing Receivable	310
CC Credit Rating
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0
2021	0
2020	0
2019	0
2018	14
Prior	0
Revolving Loans	1
Total Financing Receivable	15
C and Lower Credit Rating
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0
2021	0
2020	0
2019	0
2018	0
Prior	0
Revolving Loans	0
Total Financing Receivable	$ 0

INVESTMENTS - Allowance for Loa

INVESTMENTS - Allowance for Loan Losses by Portfolio Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020		Dec. 31, 2019
Allowance for Loan Losses by Portfolio Segment [Roll Forward]
Balance, beginning of period	$ (174)
(Addition to) release of allowance for credit losses	18	$ (6)	$ 93
Balance, end of period	(192)	(174)
Balance, beginning of period	(8)
(Addition to) release of allowance for credit losses	0	(1)	(1)
Balance, end of period	(7)	(8)
Balance, beginning of period	0
(Addition to) release of allowance for credit losses	0	(38)	38
Balance, end of period	0	0
Transitional real estate loans
Allowance for Loan Losses by Portfolio Segment [Roll Forward]
Balance, beginning of period	(68)	(63)	(22)	[1]
Transition impact to retained earnings					$ (2)
(Addition to) release of allowance for credit losses	14	(5)	(39)
Write-offs, net of recoveries	0	0	0
Change in foreign exchange	0	0
Balance, end of period	(54)	(68)	(63)
Commercial mortgage loans
Allowance for Loan Losses by Portfolio Segment [Roll Forward]
Balance, beginning of period	(10)	(32)	(3)	[1]
Transition impact to retained earnings					(8)
(Addition to) release of allowance for credit losses	1	22	(21)
Write-offs, net of recoveries	0	0	0
Change in foreign exchange	0	0
Balance, end of period	(9)	(10)	(32)
Middle market loans
Allowance for Loan Losses by Portfolio Segment [Roll Forward]
Balance, beginning of period	(96)	(85)	(20)	[1]
Transition impact to retained earnings					(33)
(Addition to) release of allowance for credit losses	(39)	(11)	(41)
Write-offs, net of recoveries	6	0	9
Change in foreign exchange	0	0
Balance, end of period	(129)	(96)	(85)
Held-to-maturity securities
Allowance for Loan Losses by Portfolio Segment [Roll Forward]
Transition impact to retained earnings					(10)
Balance, beginning of period	(8)	(10)	0	[1]
(Addition to) release of allowance for credit losses	0	1	0
Write-offs, net of recoveries	0	0	0
Change in foreign exchange	1	1
Balance, end of period	(7)	(8)	(10)
Available-for-sale securities
Allowance for Loan Losses by Portfolio Segment [Roll Forward]
Transition impact to retained earnings					0
Balance, beginning of period	0	(38)	0	[1]
(Addition to) release of allowance for credit losses	0	26	(75)
Write-offs, net of recoveries	0	12	37
Change in foreign exchange	0	0
Balance, end of period	0	0	(38)
Reinsurance recoverables
Allowance for Loan Losses by Portfolio Segment [Roll Forward]
Transition impact to retained earnings					$ (11)
Balance, beginning of period	(13)	(12)	0	[1]
(Addition to) release of allowance for credit losses	2	(2)	(1)
Write-offs, net of recoveries	0	0	0
Change in foreign exchange	3	1
Balance, end of period	$ (8)	$ (13)	$ (12)
[1]U.S. GAAP guidance adopted as of January 1, 2020 has superseded these losses, included for comparative purposes only.

INVESTMENTS - Other Investments

INVESTMENTS - Other Investments (Details) - USD ($) $ in Millions		Dec. 31, 2022	Dec. 31, 2021
Investment [Line Items]
Other investments		$ 4,070	$ 3,842
Policy loans
Investment [Line Items]
Other investments		214	236
Short-term investments
Investment [Line Items]
Other investments	[1]	1,532	1,726
Limited partnerships
Investment [Line Items]
Other investments		2,290	1,858
Other Investments
Investment [Line Items]
Other investments		$ 34	$ 22
[1]Includes securities lending collateral

INVESTMENTS - Investments in Co

INVESTMENTS - Investments in Consolidated Variable Interest Entities (Detail) - USD ($) $ in Millions		Dec. 31, 2022	Dec. 31, 2021
Variable Interest Entity [Line Items]
Available for sale, fixed maturity securities, amortized cost		$ 75,469	$ 85,369
Available for sale, fixed maturity securities		75,741	98,696
Commercial mortgage and other loans		13,496	11,786
Commercial mortgage and other loans, fair value		13,212	11,996
Other investments		4,070	3,842
Asset derivatives		617	936
Total assets		82,924	108,012
Liability derivatives		1,698	1,619
Liabilities		108,652	124,289
Liabilities, fair value		1,698	1,619
Variable Interest Entity, Consolidated
Variable Interest Entity [Line Items]
Available for sale, fixed maturity securities, amortized cost	[1]	3,223	3,264
Available for sale, fixed maturity securities		3,805	4,490
Commercial mortgage and other loans	[1]	10,832	9,740
Commercial mortgage and other loans, fair value		10,762	9,910
Other investments	[1],[2]	1,909	1,535
Other investments, fair value	[2]	1,909	1,535
Asset derivatives, amortized cost	[1],[3]	62	78
Asset derivatives	[3]	62	78
Assets, amortized cost	[1]	16,026	14,617
Total assets		16,538	16,013
Liability derivatives, amortized cost	[1],[3]	390	414
Liability derivatives	[3]	390	414
Liabilities	[1]	390	414
Liabilities, fair value		$ 390	$ 414
[1]Net of allowance for credit losses[2]Consists entirely of alternative investments in limited partnerships[3]Consists entirely of derivatives

INVESTMENTS - Investments in Va

INVESTMENTS - Investments in Variable Interest Entities Not Consolidated (Details) - USD ($) $ in Millions		Dec. 31, 2022	Dec. 31, 2021
Variable Interest Entity [Line Items]
Available for sale, fixed maturity securities, amortized cost		$ 75,469	$ 85,369
Available for sale, fixed maturity securities		75,741	98,696
Securities held to maturity, fixed maturities, amortized cost		19,063	22,008
Held to maturity, fixed maturity securities, fair value		21,210	26,869
Other investments		4,070	3,842
Assets, fair value		82,924	108,012
Variable Interest Entity, Not Consolidated
Variable Interest Entity [Line Items]
Available for sale, fixed maturity securities, amortized cost		3,998	4,779
Available for sale, fixed maturity securities		4,259	5,864
Other investments	[1]	381	323
Other investments, fair value	[1]	381	323
Assets, amortized cost		4,379	5,102
Assets, fair value		$ 4,640	$ 6,187
[1]Consists entirely of alternative investments in limited partnerships

INVESTMENTS - Securities Lendin

INVESTMENTS - Securities Lending Transactions Accounted for as Secured Borrowings (Details) - USD ($) $ in Millions		Dec. 31, 2022	Dec. 31, 2021
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending transactions		$ 1,809	$ 2,162
Gross amount of recognized liabilities for securities lending		1,809	2,162
Japan government and agencies
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending transactions		1,087	920
Public utilities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending transactions		12	40
Sovereign and supranational
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending transactions		0	2
Banks/financial institutions
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending transactions		89	88
Other corporate
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending transactions		621	1,112
Maturity Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending transactions	[1]	722	1,242
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]	12	40
Maturity Overnight and Continuous | Sovereign and supranational
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending transactions	[1]	0	2
Maturity Overnight and Continuous | Banks/financial institutions
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending transactions	[1]	89	88
Maturity Overnight and Continuous | Other corporate
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending transactions	[1]	621	1,112
Maturity up to 30 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending transactions		1,087	920
Maturity up to 30 Days | Japan government and agencies
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities lending transactions		1,087	920
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 | Sovereign and supranational
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]The related loaned security, under the Company's U.S. securities lending program, can be returned to the Company at the transferee's discretion; therefore, they are classified as Overnight and Continuous.

INVESTMENTS - Additional Inform

INVESTMENTS - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) investment	Dec. 31, 2021 USD ($) investment	Dec. 31, 2020 USD ($)	Jan. 01, 2020 USD ($)
Schedule of Investments [Line Items]
Held to maturity securities transferred to available for sale securities, number of investments | investment	0	0
Equity securities, FV-NI, unrealized gain (loss)	$ (340)
Transitional real estate loan commitments	811
Middle market loan program unfunded amount	28	$ 11
Middle market loan commitments	$ 771
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%
Percentage that the lending policy requires that the fair value of the unrestricted cash received as collateral be of the fair value of the loaned securities	100%
Fair value of debt securities on deposit with regulatory authorities in the United States and Japan	$ 15
Securities held to maturity, fixed maturities, amortized cost	19,063	22,008
Available for sale, fixed maturity securities, amortized cost	75,469	85,369
Off-balance sheet, credit loss, liability	24	31
Securities received as collateral	6,800	6,800
Financing receivable, troubled debt restructuring	0	0
Available-for-sale, allowance for credit losses	0	0
Limited partnerships investment commitments	2,100
Repurchase agreements and repurchase to maturity transactions outstanding	$ 0	$ 0
Accounting Standards Update 2019-04
Schedule of Investments [Line Items]
New accounting pronouncement or change in accounting principle effect of adoption unrealized gain loss net of tax reclassification to accumulated other comprehensive income				$ 848
Revision of Prior Period, Accounting Standards Update, Adjustment | Accounting Standards Update 2019-04
Schedule of Investments [Line Items]
Securities held to maturity, fixed maturities, amortized cost			$ (6,900)
Available for sale, fixed maturity securities, amortized cost			$ 6,900
California | Commercial mortgage and transitional real estate loans | Mortgages
Schedule of Investments [Line Items]
Concentration Risk, Percentage	22%
Texas | Commercial mortgage and transitional real estate loans | Mortgages
Schedule of Investments [Line Items]
Concentration Risk, Percentage	12%
Florida | Commercial mortgage and transitional real estate loans | Mortgages
Schedule of Investments [Line Items]
Concentration Risk, Percentage	10%
Japan government and agencies | Zero-credit-loss expectation
Schedule of Investments [Line Items]
Securities held to maturity, fixed maturities, amortized cost	$ 18,100

DERIVATIVE INSTRUMENTS - Additi

DERIVATIVE INSTRUMENTS - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Maximum Length of Time Hedged in Cash Flow Hedge	4 years
Derivative, notional amount	$ 49,190	$ 43,454
Derivative, net liability position, aggregate fair value	1,300	$ 904
Additional collateral, aggregate fair value	167
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimated Net Amount to be Transferred	(5)
Interest rate swaps | Senior notes
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Derivative, notional amount	$ 1,900

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	Dec. 31, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Derivative, notional amount	$ 49,190	$ 43,454
Derivative asset, fair value, gross asset including not subject to master netting arrangement	617	936
Derivative liability, fair value, gross liability including not subject to master netting arrangement	1,698	1,619
Asset derivatives fair value	555	858
Liability derivatives fair value	1,308	1,205
Cash flow hedges
Derivatives, Fair Value [Line Items]
Derivative, notional amount	18	18
Asset derivatives fair value	0	0
Liability derivatives fair value	3	2
Cash flow hedges | Foreign currency swaps | Variable Interest Entity
Derivatives, Fair Value [Line Items]
Derivative, notional amount	18	18
Asset derivatives fair value	0	0
Liability derivatives fair value	3	2
Fair value hedges
Derivatives, Fair Value [Line Items]
Derivative, notional amount	7,940	8,891
Asset derivatives fair value	45	5
Liability derivatives fair value	0	5
Fair value hedges | Foreign currency forwards
Derivatives, Fair Value [Line Items]
Derivative, notional amount	0	62
Asset derivatives fair value	0	0
Liability derivatives fair value	0	5
Fair value hedges | Foreign currency options
Derivatives, Fair Value [Line Items]
Derivative, notional amount	7,940	8,829
Asset derivatives fair value	45	5
Liability derivatives fair value	0	0
Net investment hedge
Derivatives, Fair Value [Line Items]
Derivative, notional amount	7,612	6,945
Asset derivatives fair value	390	341
Liability derivatives fair value	85	0
Net investment hedge | Foreign currency forwards
Derivatives, Fair Value [Line Items]
Derivative, notional amount	4,982	4,996
Asset derivatives fair value	383	341
Liability derivatives fair value	85	0
Net investment hedge | Foreign currency options
Derivatives, Fair Value [Line Items]
Derivative, notional amount	2,630	1,949
Asset derivatives fair value	7	0
Liability derivatives fair value	0	0
Non-qualifying strategies
Derivatives, Fair Value [Line Items]
Derivative, notional amount	33,620	27,600
Asset derivatives fair value	182	590
Liability derivatives fair value	1,610	1,612
Non-qualifying strategies | Foreign currency swaps | Variable Interest Entity
Derivatives, Fair Value [Line Items]
Derivative, notional amount	3,420	3,151
Asset derivatives fair value	62	78
Liability derivatives fair value	387	412
Non-qualifying strategies | Foreign currency swaps | Consolidated Entity Excluding Variable Interest Entities (VIE)
Derivatives, Fair Value [Line Items]
Derivative, notional amount	1,900	2,250
Asset derivatives fair value	66	59
Liability derivatives fair value	0	13
Non-qualifying strategies | Foreign currency forwards
Derivatives, Fair Value [Line Items]
Derivative, notional amount	5,049	15,953
Asset derivatives fair value	17	450
Liability derivatives fair value	640	1,133
Non-qualifying strategies | Foreign currency options
Derivatives, Fair Value [Line Items]
Derivative, notional amount	5,521	2,746
Asset derivatives fair value	30	3
Liability derivatives fair value	0	0
Non-qualifying strategies | Interest rate swaps
Derivatives, Fair Value [Line Items]
Derivative, notional amount	17,730	3,500
Asset derivatives fair value	7	0
Liability derivatives fair value	$ 583	$ 54

DERIVATIVE INSTRUMENTS - Gains

DERIVATIVE INSTRUMENTS - Gains (Losses) Recognized on Fair Value Hedging Relationships (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses) recognized for derivatives		$ (18)	$ (33)	$ (23)
Gains (losses) on derivatives excluded from effectiveness testing	[1]	(18)	(25)	(16)
Gain (losses) on derivatives included in effectiveness testing	[2]	0	(8)	(7)
Gains (losses) recognized for hedged items	[2]	0	10	8
Net realized gains (losses) recognized for fair value hedge		0	2	1
Fixed maturity securities | Foreign currency forwards
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses) recognized for derivatives			(7)	(14)
Gains (losses) on derivatives excluded from effectiveness testing	[1]		0	(8)
Gain (losses) on derivatives included in effectiveness testing	[2]		(7)	(6)
Gains (losses) recognized for hedged items	[2]		6	7
Net realized gains (losses) recognized for fair value hedge			(1)	1
Fixed maturity securities | Foreign currency options
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses) recognized for derivatives		(18)	(26)	(9)
Gains (losses) on derivatives excluded from effectiveness testing	[1]	(18)	(25)	(8)
Gain (losses) on derivatives included in effectiveness testing	[2]	0	(1)	(1)
Gains (losses) recognized for hedged items	[2]	0	4	1
Net realized gains (losses) recognized for fair value hedge		$ 0	$ 3	$ 0
[1]Gains (losses) excluded from effectiveness testing includes the forward point on foreign currency forwards and time value change on foreign currency options which are reported in the consolidated statement of earnings as net investment gains (losses). It also includes the change in the fair value of the interest rate swaptions related to the time value of the swaptions which is recognized as a component of other comprehensive income (loss).[2]Gains and losses on foreign currency forwards and options and related hedged items are reported in the consolidated statement of earnings as net investment gains (losses). For interest rate swaptions and related hedged items, gains and losses included in the hedge assessment, premium amortization and time value amortization while the hedge items are still outstanding are reported within net investment income. The time value gains and losses for interest rate swaptions when the related hedged items are redeemed are reported in net investment gains and losses consistent with the impact of the hedged item. For the years ended December 31, 2022 and 2021, gains and losses included in the hedge assessment on interest rate swaptions and related hedged items were immaterial.

DERIVATIVE INSTRUMENTS - Schedu

DERIVATIVE INSTRUMENTS - Schedule of Interest Rate Fair Value Hedges Hedged Items (Details) - Fixed maturity securities - USD ($) $ in Millions		Dec. 31, 2022	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Carrying Amount of Hedged Assets/ (Liabilities)	[1]	$ 2,360	$ 3,038
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of Hedged Assets/ (Liabilities)		$ 189	$ 205
[1]The balance includes hedging adjustment on discontinued hedging relationships of $189 in 2022 and $205 in 2021.

DERIVATIVE INSTRUMENTS - Deriva

DERIVATIVE INSTRUMENTS - Derivatives and Hedging Instruments Gain (Loss) Summary (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized foreign currency translation gains (losses) during period		$ (1,080)	$ (889)	$ 510
Derivative and non-derivative hedging instruments, gain (loss) recognized in other comprehensive income, before tax	[1]	1,048	858	(418)
Reclassification out of Accumulated Other Comprehensive Income
Derivative Instruments, Gain (Loss) [Line Items]
Cash flow hedge		(4)	(4)
Fair value hedge excluded component		(1)	(2)
Net investment income
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative	[2]	$ (1)	$ (2)	$ (2)
Gains (losses) recognized in income on derivative ext list		Net investment income	Net investment income	Net investment income
Net investment gains (losses)
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		$ (1,151)	$ (805)	$ 399
Gains (losses) recognized in income on derivative ext list		Net investment gains (losses)	Net investment gains (losses)	Net investment gains (losses)
Cash flow hedges
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in other comprehensive income on derivative	[1]	$ 4	$ 3	$ (2)
Cash flow hedges | Net investment income
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative	[2]	(1)	(1)	(1)
Cash flow hedges | Net investment gains (losses)
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative	[3]	(4)	(4)	0
Cash flow hedges | Foreign currency swaps | Variable Interest Entity
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in other comprehensive income on derivative	[1]	4	3	(2)
Cash flow hedges | Foreign currency swaps | Variable Interest Entity | Net investment income
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative	[2]	(1)	(1)	(1)
Cash flow hedges | Foreign currency swaps | Variable Interest Entity | Net investment gains (losses)
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		(4)	(4)	0
Fair value hedges
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in other comprehensive income on derivative	[1]	0	2	1
Fair value hedges | Net investment income
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative	[2]	0	(1)	(1)
Fair value hedges | Net investment gains (losses)
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		(18)	(24)	(15)
Fair value hedges | Foreign currency forwards
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative	[3]	0	(1)	(7)
Fair value hedges | Foreign currency options
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative	[3]	(18)	(22)	(8)
Fair value hedges | Interest rate swaptions
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in other comprehensive income on derivative	[1],[3]	0	2	1
Fair value hedges | Interest rate swaptions | Net investment income
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative	[2],[3]	0	(1)	(1)
Fair value hedges | Interest rate swaptions | Net investment gains (losses)
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative	[3]	0	(1)	0
Net investment hedge
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		(81)	25	144
Unrealized foreign currency translation gains (losses) during period	[1]	1,044	853	(417)
Net investment hedge | Foreign currency forwards
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		(80)	29	149
Unrealized foreign currency translation gains (losses) during period	[1]	673	525	(282)
Net investment hedge | Foreign currency options
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		(1)	(4)	(5)
Unrealized foreign currency translation gains (losses) during period	[1]	0	0	0
Net investment hedge | Non-derivative hedging Instruments
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		0	0	0
Unrealized foreign currency translation gains (losses) during period	[1]	371	328	(135)
Non-qualifying strategies
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		(1,048)	(802)	270
Non-qualifying strategies | Foreign currency swaps | Variable Interest Entity
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		9	(188)	(122)
Non-qualifying strategies | Foreign currency swaps | Consolidated Entity Excluding Variable Interest Entities (VIE)
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		159	135	29
Non-qualifying strategies | Foreign currency forwards
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		(650)	(707)	311
Non-qualifying strategies | Foreign currency options
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		0	(3)	(3)
Non-qualifying strategies | Interest rate swaptions
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		1	0	0
Non-qualifying strategies | Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		(546)	(38)	49
Non-qualifying strategies | Forward bond purchase commitment | Variable Interest Entity
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		$ (21)	$ (1)	$ 6
[1] Gains and losses on cash flow hedges and the change in the fair value of interest rate swaptions related to the time value of the swaptions in fair value hedges are recorded as unrealized gains (losses). Gains and losses on net investment hedges related to changes in foreign currency spot rates are recorded in the unrealized foreign currency translation gains (losses) line in the consolidated statement of comprehensive income (loss).

DERIVATIVE INSTRUMENTS - Offset

DERIVATIVE INSTRUMENTS - Offsetting of Financial Assets and Derivative Assets (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Offsetting Assets [Line Items]
Gross amount of recognized derivative assets	$ 555	$ 858
Gross amount of liabilities offset in balance sheet	0	0
Net amount of derivative assets presented in balance sheet	555	858
Financial instruments, amounts not offset	(174)	(471)
Derivative, collateral, obligation to return securities	(60)	(53)
Derivative, collateral, obligation to return cash	(320)	(334)
Derivative asset, fair value, amount offset against collateral, subject to master netting agreement	1	0
Derivative asset, not subject to master netting arrangement	62	78
Derivative asset, fair value, gross asset including not subject to master netting arrangement	617	936
Net amounts of derivative assets presented in balance sheet	617	936
Derivative asset, fair value, amount offset against collateral	63	78
Securities lending, gross amounts of recognized financial instruments	1,788	2,124
Securities lending, gross amounts offset in balance sheet	0	0
Securities lending, net amounts of assets presented in balance sheet	1,788	2,124
Securities lending, carrying value of financial instruments not offset in balance sheet	0	0
Securities lending, securities collateral, not offset in balance sheet	0	0
Securities lending, cash collateral, not offset in balance sheet	(1,788)	(2,124)
Securities lending, financial instruments, amount of assets offset against collateral	0	0
Gross amount of recognized assets	2,405	3,060
Gross amounts offset in balance sheet	0	0
Net amounts of assets presented in balance sheet	2,405	3,060
Carrying value of financial instruments not offset in balance sheet	(174)	(471)
Securities collateral, not offset in balance sheet	(60)	(53)
Cash collateral, not offset in balance sheet	(2,108)	(2,458)
Financial instruments, amount of assets offset against collateral	63	78
Over the Counter - Bilateral
Offsetting Assets [Line Items]
Gross amount of recognized derivative assets	548	858
Gross amount of liabilities offset in balance sheet	0	0
Net amount of derivative assets presented in balance sheet	548	858
Financial instruments, amounts not offset	(167)	(471)
Derivative, collateral, obligation to return securities	(60)	(53)
Derivative, collateral, obligation to return cash	(320)	(334)
Derivative asset, fair value, amount offset against collateral, subject to master netting agreement	1	0
Derivative asset, not subject to master netting arrangement	62	$ 78
Over the Counter - Cleared
Offsetting Assets [Line Items]
Gross amount of recognized derivative assets	7
Gross amount of liabilities offset in balance sheet	0
Net amount of derivative assets presented in balance sheet	7
Financial instruments, amounts not offset	(7)
Derivative, collateral, obligation to return securities	0
Derivative, collateral, obligation to return cash	0
Derivative asset, fair value, amount offset against collateral, subject to master netting agreement	$ 0

DERIVATIVE INSTRUMENTS - Offs_2

DERIVATIVE INSTRUMENTS - Offsetting of Financial Liabilities and Derivative Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Offsetting Liabilities [Line Items]
Gross amount of recognized derivative liabilities	$ 1,308	$ 1,205
Gross amount of assets offset in balance sheet	0	0
Derivative liability, fair value, amount not offset against collateral	1,308	1,205
Financial instruments, amounts not offset	(174)	(471)
Derivative, collateral, right to reclaim securities	(506)	(662)
Derivative, collateral, right to reclaim cash	(629)	(49)
Derivative liability, fair value, amount offset against collateral, subject to master netting agreement	(1)	23
Derivative liability, not subject to master netting arrangement	390
Derivative liability, fair value, gross liability including not subject to master netting arrangement	1,698	1,619
Net amount of derivative liabilities presented in balance sheet	$ 1,698	$ 1,619
Net amount of derivative liabilities presented in balance sheet ext list	Other Liabilities	Other Liabilities
Derivative liability, fair value, amount offset against collateral	$ 389	$ 437
Securities lending, gross amounts of recognized financial instruments, offsetting liabilities	1,809	2,162
Securities lending, gross amounts offset in statement of financial position, offsetting liabilities	0	0
Securities lending, net amounts of financial instruments presented in balance sheet, offsetting liabilities	1,809	2,162
Securities lending, carrying value of financial instruments, liabilities not offset in balance sheet	(1,788)	(2,124)
Securities lending, securities collateral, liabilities not offset in balance sheet	0	0
Securities lending, cash collateral, liabilities not offset in balance sheet	0	0
Securities lending, financial instruments, amount of liabilities offset against collateral	21	38
Gross amounts of recognized financial instruments, offsetting liabilities	3,507	3,781
Gross amounts offset in statement of financial position, offsetting liabilities	0	0
Net amounts of financial instruments presented in balance sheet, offsetting liabilities	3,507	3,781
Carrying value of financial instruments, liabilities not offset in balance sheet	(1,962)	(2,595)
Securities collateral, liabilities not offset in balance sheet	(506)	(662)
Cash collateral, liabilities not offset in balance sheet	(629)	(49)
Financial instruments, amount of liabilities offset against collateral	410	475
Over the Counter - Bilateral
Offsetting Liabilities [Line Items]
Gross amount of recognized derivative liabilities	725	1,151
Gross amount of assets offset in balance sheet	0	0
Derivative liability, fair value, amount not offset against collateral	725	1,151
Financial instruments, amounts not offset	(167)	(471)
Derivative, collateral, right to reclaim securities	(506)	(662)
Derivative, collateral, right to reclaim cash	(52)	(14)
Derivative liability, fair value, amount offset against collateral, subject to master netting agreement	0	4
Derivative liability, not subject to master netting arrangement	390	414
Over the Counter - Cleared
Offsetting Liabilities [Line Items]
Gross amount of recognized derivative liabilities	583	54
Gross amount of assets offset in balance sheet	0	0
Derivative liability, fair value, amount not offset against collateral	583	54
Financial instruments, amounts not offset	(7)	0
Derivative, collateral, right to reclaim securities	0	0
Derivative, collateral, right to reclaim cash	(577)	(35)
Derivative liability, fair value, amount offset against collateral, subject to master netting agreement	$ (1)	$ 19

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	Dec. 31, 2022	Dec. 31, 2021
Assets:
Available for sale, fixed maturity securities	$ 75,741	$ 98,696
Equity securities	1,091	1,603
Other investments	1,532	1,726
Cash and cash equivalents	3,943	5,051
Asset derivatives	$ 617	$ 936
Asset derivatives ext list	Other	Other
Total assets	$ 82,924	$ 108,012
Liabilities:
Liability derivatives	1,698	1,619
Total liabilities	1,698	1,619
Foreign currency swaps
Assets:
Asset derivatives	128	137
Liabilities:
Liability derivatives	390	427
Foreign currency forwards
Assets:
Asset derivatives	400	791
Liabilities:
Liability derivatives	725	1,138
Foreign currency options
Assets:
Asset derivatives	82	8
Interest rate swaps
Assets:
Asset derivatives	7
Liabilities:
Liability derivatives	583	54
Government and agencies
Assets:
Available for sale, fixed maturity securities	25,114	33,820
Municipalities
Assets:
Available for sale, fixed maturity securities	2,320	3,036
Mortgage- and asset-backed securities
Assets:
Available for sale, fixed maturity securities	2,146	1,246
Public utilities
Assets:
Available for sale, fixed maturity securities	7,666	10,051
Sovereign and supranational
Assets:
Available for sale, fixed maturity securities	834	1,115
Banks/financial institutions
Assets:
Available for sale, fixed maturity securities	9,299	11,591
Other corporate
Assets:
Available for sale, fixed maturity securities	28,362	37,837
Level 1
Assets:
Available for sale, fixed maturity securities	24,158	32,532
Equity securities	822	1,340
Other investments	1,532	1,726
Cash and cash equivalents	3,943	5,051
Asset derivatives	0	0
Total assets	30,455	40,649
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
Level 1 | Interest rate swaps
Assets:
Asset derivatives	0
Liabilities:
Liability derivatives	0	0
Level 1 | Government and agencies
Assets:
Available for sale, fixed maturity securities	24,158	32,532
Level 1 | Municipalities
Assets:
Available for sale, fixed maturity securities	0	0
Level 1 | Mortgage- and asset-backed securities
Assets:
Available for sale, fixed maturity securities	0	0
Level 1 | Public utilities
Assets:
Available for sale, fixed maturity securities	0	0
Level 1 | Sovereign and supranational
Assets:
Available for sale, fixed maturity securities	0	0
Level 1 | Banks/financial institutions
Assets:
Available for sale, fixed maturity securities	0	0
Level 1 | Other corporate
Assets:
Available for sale, fixed maturity securities	0	0
Level 2
Assets:
Available for sale, fixed maturity securities	49,805	64,866
Equity securities	60	90
Other investments	0	0
Cash and cash equivalents	0	0
Asset derivatives	617	936
Total assets	50,482	65,892
Liabilities:
Total liabilities	1,698	1,619
Level 2 | Foreign currency swaps
Assets:
Asset derivatives	128	137
Liabilities:
Liability derivatives	390	427
Level 2 | Foreign currency forwards
Assets:
Asset derivatives	400	791
Liabilities:
Liability derivatives	725	1,138
Level 2 | Foreign currency options
Assets:
Asset derivatives	82	8
Level 2 | Interest rate swaps
Assets:
Asset derivatives	7
Liabilities:
Liability derivatives	583	54
Level 2 | Government and agencies
Assets:
Available for sale, fixed maturity securities	956	1,288
Level 2 | Municipalities
Assets:
Available for sale, fixed maturity securities	2,320	3,036
Level 2 | Mortgage- and asset-backed securities
Assets:
Available for sale, fixed maturity securities	1,803	955
Level 2 | Public utilities
Assets:
Available for sale, fixed maturity securities	7,169	9,558
Level 2 | Sovereign and supranational
Assets:
Available for sale, fixed maturity securities	797	1,072
Level 2 | Banks/financial institutions
Assets:
Available for sale, fixed maturity securities	9,140	11,546
Level 2 | Other corporate
Assets:
Available for sale, fixed maturity securities	27,620	37,411
Level 3
Assets:
Available for sale, fixed maturity securities	1,778	1,298
Equity securities	209	173
Other investments	0	0
Cash and cash equivalents	0	0
Asset derivatives	0	0
Total assets	1,987	1,471
Liabilities:
Total liabilities	0	0
Level 3 | Foreign currency swaps
Assets:
Asset derivatives	0	0
Liabilities:
Liability derivatives	0	0
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
Level 3 | Interest rate swaps
Assets:
Asset derivatives	0
Liabilities:
Liability derivatives	0	0
Level 3 | Government and agencies
Assets:
Available for sale, fixed maturity securities	0	0
Level 3 | Municipalities
Assets:
Available for sale, fixed maturity securities	0	0
Level 3 | Mortgage- and asset-backed securities
Assets:
Available for sale, fixed maturity securities	343	291
Level 3 | Public utilities
Assets:
Available for sale, fixed maturity securities	497	493
Level 3 | Sovereign and supranational
Assets:
Available for sale, fixed maturity securities	37	43
Level 3 | Banks/financial institutions
Assets:
Available for sale, fixed maturity securities	159	45
Level 3 | Other corporate
Assets:
Available for sale, fixed maturity securities	$ 742	$ 426

FAIR VALUE MEASUREMENTS - Fai_2

FAIR VALUE MEASUREMENTS - Fair Value Hierarchy Levels of Assets and Liabilities Carried at Cost or Amortized Cost (Details) - USD ($) $ in Millions	Dec. 31, 2022		Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments	$ 4,070		$ 3,842
Assets:
Securities held to maturity, fixed maturities, amortized cost	19,063		22,008
Held to maturity, fixed maturity securities, fair value	21,210		26,869
Commercial mortgage and other loans	13,496		11,786
Commercial mortgage and other loans, fair value	13,212		11,996
Other investments, carried at amortized cost	34	[1]	22	[2]
Other investments, carried at amortized cost, fair value	34	[1]	22	[2]
Total financial instruments, assets, not carried at fair value	32,586		33,808
Assets, fair value disclosure, financial instruments, carried at cost	34,456		38,887
Liabilities:
Other policyholders' funds	6,123		7,072
Other policyholders' funds fair value disclosure	6,022		6,957
Notes payable	7,295		7,839
Notes payable, fair value disclosure	6,826		8,539
Total financial instrument liabilities not carried at fair value	13,418		14,911
Liabilities fair value disclosure financial instruments carried at cost	12,848		15,496
Government and agencies
Assets:
Securities held to maturity, fixed maturities, amortized cost	18,267		21,086
Held to maturity, fixed maturity securities, fair value	20,312		25,699
Municipalities
Assets:
Securities held to maturity, fixed maturities, amortized cost	287		335
Held to maturity, fixed maturity securities, fair value	335		436
Public utilities
Assets:
Securities held to maturity, fixed maturities, amortized cost	37		43
Held to maturity, fixed maturity securities, fair value	41		55
Sovereign and supranational
Assets:
Securities held to maturity, fixed maturities, amortized cost	446		514
Held to maturity, fixed maturity securities, fair value	500		650
Other corporate
Assets:
Securities held to maturity, fixed maturities, amortized cost	19		22
Held to maturity, fixed maturity securities, fair value	22		29
Policy loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments	214		236
Equity method investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments	2,290		1,858
Level 1
Assets:
Held to maturity, fixed maturity securities, fair value	20,132		25,469
Commercial mortgage and other loans, fair value	0		0
Other investments, carried at amortized cost, fair value	0	[1]	0	[2]
Assets, fair value disclosure, financial instruments, carried at cost	20,132		25,469
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 | Government and agencies
Assets:
Held to maturity, fixed maturity securities, fair value	20,132		25,469
Level 1 | Municipalities
Assets:
Held to maturity, fixed maturity securities, fair value	0		0
Level 1 | Public utilities
Assets:
Held to maturity, fixed maturity securities, fair value	0		0
Level 1 | Sovereign and supranational
Assets:
Held to maturity, fixed maturity securities, fair value	0		0
Level 1 | Other corporate
Assets:
Held to maturity, fixed maturity securities, fair value	0		0
Level 2
Assets:
Held to maturity, fixed maturity securities, fair value	1,078		1,400
Commercial mortgage and other loans, fair value	0		0
Other investments, carried at amortized cost, fair value	34	[1]	22	[2]
Assets, fair value disclosure, financial instruments, carried at cost	1,112		1,422
Liabilities:
Other policyholders' funds fair value disclosure	0		0
Notes payable, fair value disclosure	6,024		8,280
Liabilities fair value disclosure financial instruments carried at cost	6,024		8,280
Level 2 | Government and agencies
Assets:
Held to maturity, fixed maturity securities, fair value	180		230
Level 2 | Municipalities
Assets:
Held to maturity, fixed maturity securities, fair value	335		436
Level 2 | Public utilities
Assets:
Held to maturity, fixed maturity securities, fair value	41		55
Level 2 | Sovereign and supranational
Assets:
Held to maturity, fixed maturity securities, fair value	500		650
Level 2 | Other corporate
Assets:
Held to maturity, fixed maturity securities, fair value	22		29
Level 3
Assets:
Held to maturity, fixed maturity securities, fair value	0		0
Commercial mortgage and other loans, fair value	13,212		11,996
Other investments, carried at amortized cost, fair value	0	[1]	0	[2]
Assets, fair value disclosure, financial instruments, carried at cost	13,212		11,996
Liabilities:
Other policyholders' funds fair value disclosure	6,022		6,957
Notes payable, fair value disclosure	802		259
Liabilities fair value disclosure financial instruments carried at cost	6,824		7,216
Level 3 | Government and agencies
Assets:
Held to maturity, fixed maturity securities, fair value	0		0
Level 3 | Municipalities
Assets:
Held to maturity, fixed maturity securities, fair value	0		0
Level 3 | Public utilities
Assets:
Held to maturity, fixed maturity securities, fair value	0		0
Level 3 | Sovereign and supranational
Assets:
Held to maturity, fixed maturity securities, fair value	0		0
Level 3 | Other corporate
Assets:
Held to maturity, fixed maturity securities, fair value	$ 0		$ 0
[1]Excludes policy loans of $214 and equity method investments of $2,290 at carrying value[2]Excludes policy loans of $236 and equity method investments of $1,858, at carrying value

FAIR VALUE MEASUREMENTS - Fai_3

FAIR VALUE MEASUREMENTS - Fair Value Hierarchy Levels of Assets by Pricing Source, Securities Carried at Fair Value (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	$ 75,741	$ 98,696
Equity securities	1,091	1,603
Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	24,158	32,532
Equity securities	822	1,340
Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	49,805	64,866
Equity securities	60	90
Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	1,778	1,298
Equity securities	209	173
Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Equity securities	882	1,430
Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Equity securities	822	1,340
Third party pricing vendor valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Equity securities	60	90
Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Equity securities	0	0
Broker/other
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Equity securities	209	173
Broker/other | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Equity securities	0	0
Broker/other | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Equity securities	0	0
Broker/other | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Equity securities	209	173
Government and agencies
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	25,114	33,820
Government and agencies | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	24,158	32,532
Government and agencies | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	956	1,288
Government and agencies | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Government and agencies | Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	24,740	33,340
Government and agencies | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	24,158	32,532
Government and agencies | Third party pricing vendor valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	582	808
Government and agencies | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Government and agencies | Internal valuation technique
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	374	480
Government and agencies | Internal valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Government and agencies | Internal valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	374	480
Government and agencies | Internal valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Municipalities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	2,320	3,036
Municipalities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Municipalities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	2,320	3,036
Municipalities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Municipalities | Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	2,021	2,222
Municipalities | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Municipalities | Third party pricing vendor valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	2,021	2,222
Municipalities | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Municipalities | Internal valuation technique
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	299	814
Municipalities | Internal valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Municipalities | Internal valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	299	814
Municipalities | Internal valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Mortgage- and asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	2,146	1,246
Mortgage- and asset-backed securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Mortgage- and asset-backed securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	1,803	955
Mortgage- and asset-backed securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	343	291
Mortgage- and asset-backed securities | Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	1,798	955
Mortgage- and asset-backed securities | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Mortgage- and asset-backed securities | Third party pricing vendor valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	1,798	955
Mortgage- and asset-backed securities | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Mortgage- and asset-backed securities | Consensus pricing valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	343	291
Mortgage- and asset-backed securities | Internal valuation technique
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	3
Mortgage- and asset-backed securities | Internal valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0
Mortgage- and asset-backed securities | Internal valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	3
Mortgage- and asset-backed securities | Internal valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0
Mortgage- and asset-backed securities | Broker/other
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	345	291
Mortgage- and asset-backed securities | Broker/other | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Mortgage- and asset-backed securities | Broker/other | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	2	0
Mortgage- and asset-backed securities | Broker/other | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	343	291
Public utilities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	7,666	10,051
Public utilities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Public utilities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	7,169	9,558
Public utilities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	497	493
Public utilities | Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	3,786	4,527
Public utilities | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Public utilities | Third party pricing vendor valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	3,786	4,527
Public utilities | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Public utilities | Discounted cash flow technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	497	493
Public utilities | Internal valuation technique
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	3,383	5,031
Public utilities | Internal valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Public utilities | Internal valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	3,383	5,031
Public utilities | Internal valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Public utilities | Broker/other
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	497	493
Public utilities | Broker/other | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Public utilities | Broker/other | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Public utilities | Broker/other | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	497	493
Sovereign and supranational
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	834	1,115
Sovereign and supranational | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Sovereign and supranational | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	797	1,072
Sovereign and supranational | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	37	43
Sovereign and supranational | Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	232	273
Sovereign and supranational | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Sovereign and supranational | Third party pricing vendor valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	232	273
Sovereign and supranational | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Sovereign and supranational | Consensus pricing valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	37	43
Sovereign and supranational | Internal valuation technique
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	565	799
Sovereign and supranational | Internal valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Sovereign and supranational | Internal valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	565	799
Sovereign and supranational | Internal valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Sovereign and supranational | Broker/other
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	37	43
Sovereign and supranational | Broker/other | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Sovereign and supranational | Broker/other | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Sovereign and supranational | Broker/other | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	37	43
Banks/financial institutions
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	9,299	11,591
Banks/financial institutions | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Banks/financial institutions | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	9,140	11,546
Banks/financial institutions | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	159	45
Banks/financial institutions | Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	4,622	5,237
Banks/financial institutions | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Banks/financial institutions | Third party pricing vendor valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	4,622	5,237
Banks/financial institutions | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Banks/financial institutions | Consensus pricing valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities		45
Banks/financial institutions | Discounted cash flow technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	159
Banks/financial institutions | Internal valuation technique
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	4,623	6,309
Banks/financial institutions | Internal valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Banks/financial institutions | Internal valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	4,518	6,309
Banks/financial institutions | Internal valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	105	0
Banks/financial institutions | Broker/other
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	54	45
Banks/financial institutions | Broker/other | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Banks/financial institutions | Broker/other | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Banks/financial institutions | Broker/other | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	54	45
Other corporate
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	28,362	37,837
Other corporate | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Other corporate | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	27,620	37,411
Other corporate | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	742	426
Other corporate | Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	22,268	29,495
Other corporate | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Other corporate | Third party pricing vendor valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	22,268	29,495
Other corporate | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Other corporate | Discounted cash flow technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	742	426
Other corporate | Internal valuation technique
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	5,552	7,916
Other corporate | Internal valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Other corporate | Internal valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	5,352	7,916
Other corporate | Internal valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	200	0
Other corporate | Broker/other
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	542	426
Other corporate | Broker/other | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Other corporate | Broker/other | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	0	0
Other corporate | Broker/other | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale, fixed maturity securities	$ 542	$ 426

FAIR VALUE MEASUREMENTS - Fai_4

FAIR VALUE MEASUREMENTS - Fair Value Hierarchy Levels of Assets by Pricing Source, Securities Carried at Amortized Cost (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	$ 21,210	$ 26,869
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	20,132	25,469
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	1,078	1,400
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	0	0
Government and agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	20,312	25,699
Government and agencies | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	20,132	25,469
Government and agencies | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	180	230
Government and agencies | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	0	0
Government and agencies | Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	20,312	25,699
Government and agencies | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	20,132	25,469
Government and agencies | Third party pricing vendor valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	180	230
Government and agencies | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	0	0
Municipalities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	335	436
Municipalities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	0	0
Municipalities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	335	436
Municipalities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	0	0
Municipalities | Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	335	436
Municipalities | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	0	0
Municipalities | Third party pricing vendor valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	335	436
Municipalities | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	0	0
Public utilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	41	55
Public utilities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	0	0
Public utilities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	41	55
Public utilities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	0	0
Public utilities | Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	41	55
Public utilities | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	0	0
Public utilities | Third party pricing vendor valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	41	55
Public utilities | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	0	0
Sovereign and supranational
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	500	650
Sovereign and supranational | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	0	0
Sovereign and supranational | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	500	650
Sovereign and supranational | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	0	0
Sovereign and supranational | Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	242	313
Sovereign and supranational | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	0	0
Sovereign and supranational | Third party pricing vendor valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	242	313
Sovereign and supranational | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	0	0
Sovereign and supranational | Broker/other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	258	337
Sovereign and supranational | Broker/other | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	0	0
Sovereign and supranational | Broker/other | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	258	337
Sovereign and supranational | Broker/other | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	0	0
Other corporate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	22	29
Other corporate | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	0	0
Other corporate | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	22	29
Other corporate | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	0	0
Other corporate | Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	22	29
Other corporate | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	0	0
Other corporate | Third party pricing vendor valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	22	29
Other corporate | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity, fixed maturity securities, fair value	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Chang

FAIR VALUE MEASUREMENTS - Changes in Investments and Derivatives Carried at Fair Value Classified as Level 3 (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	$ 1,471	$ 1,021
Net investment gains (losses) included in earnings	$ 5	(135)
Net investment gains (losses) included in earnings ext list	Net investment gains (losses)
Unrealized gains (losses) included in other comprehensive income (loss)	$ (288)	(65)
Unrealized gains (losses) included in other comprehensive income (loss) ext list	Total other comprehensive income (loss) before income taxes
Purchases	$ 886	490
Issuances	0	17
Sales	0	(33)
Settlements	(359)	(38)
Transfers into Level 3	496	107
Transfers out of Level 3	(224)
Transfers out of Level 3		107
Balance, end of period	1,987	1,471
Change in unrealized gains (losses) still held	$ (2)	(217)
Change in unrealized gains (losses) still held ext list	Net investment gains (losses)
Foreign currency swaps
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Balance, beginning of period	$ 0	(98)
Net investment gains (losses) included in earnings	0	(158)
Unrealized gains (losses) included in other comprehensive income (loss)	0	(1)
Purchases	0	0
Issuances	0	0
Sales	0	0
Settlements	0	0
Transfers into Level 3	0	0
Transfers out of Level 3	0	257
Balance, end of period	0	0
Change in unrealized gains (losses) still held	0	(158)
Fixed maturity securities | Mortgage- and asset-backed securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	291	224
Net investment gains (losses) included in earnings	(4)	0
Unrealized gains (losses) included in other comprehensive income (loss)	(76)	(25)
Purchases	273	169
Issuances	0	0
Sales	0	0
Settlements	(78)	0
Transfers into Level 3	0	0
Transfers out of Level 3	(63)	(77)
Balance, end of period	343	291
Change in unrealized gains (losses) still held	(4)	(24)
Fixed maturity securities | Public utilities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	493	422
Net investment gains (losses) included in earnings	4	0
Unrealized gains (losses) included in other comprehensive income (loss)	(99)	(21)
Purchases	35	167
Issuances	0	0
Sales	0	(2)
Settlements	(64)	(21)
Transfers into Level 3	128	0
Transfers out of Level 3	0	(52)
Balance, end of period	497	493
Change in unrealized gains (losses) still held	1	(23)
Fixed maturity securities | Sovereign and supranational
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	43	48
Net investment gains (losses) included in earnings	0	0
Unrealized gains (losses) included in other comprehensive income (loss)	(6)	(5)
Purchases	0	0
Issuances	0	0
Sales	0	(23)
Settlements	0	0
Transfers into Level 3	0	23
Transfers out of Level 3	0	0
Balance, end of period	37	43
Change in unrealized gains (losses) still held	0	(4)
Fixed maturity securities | Banks/financial institutions
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	45	24
Net investment gains (losses) included in earnings	1	0
Unrealized gains (losses) included in other comprehensive income (loss)	(14)	(2)
Purchases	132	23
Issuances	0	0
Sales	0	0
Settlements	(23)	0
Transfers into Level 3	18	0
Transfers out of Level 3	0	0
Balance, end of period	159	45
Change in unrealized gains (losses) still held	0	(2)
Fixed maturity securities | Other corporate
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	426	299
Net investment gains (losses) included in earnings	0	2
Unrealized gains (losses) included in other comprehensive income (loss)	(93)	(11)
Purchases	387	90
Issuances	0	0
Sales	0	0
Settlements	(187)	(17)
Transfers into Level 3	350	84
Transfers out of Level 3	(141)	(21)
Balance, end of period	742	426
Change in unrealized gains (losses) still held	0	(27)
Equity securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	173	102
Net investment gains (losses) included in earnings	4	21
Unrealized gains (losses) included in other comprehensive income (loss)	0	0
Purchases	59	41
Issuances	0	17
Sales	0	(8)
Settlements	(7)	0
Transfers into Level 3	0	0
Transfers out of Level 3	(20)	0
Balance, end of period	209	173
Change in unrealized gains (losses) still held	$ 1	$ 21

FAIR VALUE MEASUREMENTS - Fai_5

FAIR VALUE MEASUREMENTS - Fair Value Measurement Inputs and Valuation Techniques (Details) $ in Millions		Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Fair Value Measurement Inputs and Valuation Technique
Available for sale, fixed maturity securities		$ 75,741	$ 98,696
Equity securities		1,091	1,603
Asset derivatives		617	936
Liability derivatives		1,698	1,619
Assets, fair value		82,924	108,012
Liabilities, fair value		1,698	1,619
Level 3
Fair Value Measurement Inputs and Valuation Technique
Available for sale, fixed maturity securities		1,778	1,298
Equity securities		209	173
Asset derivatives		0	0
Assets, fair value		1,987	1,471
Liabilities, fair value		0	0
Adjustd cost | Level 3
Fair Value Measurement Inputs and Valuation Technique
Equity securities		209	173
Mortgage- and asset-backed securities
Fair Value Measurement Inputs and Valuation Technique
Available for sale, fixed maturity securities		2,146	1,246
Mortgage- and asset-backed securities | Level 3
Fair Value Measurement Inputs and Valuation Technique
Available for sale, fixed maturity securities		343	291
Mortgage- and asset-backed securities | Consensus pricing valuation technique | Level 3
Fair Value Measurement Inputs and Valuation Technique
Available for sale, fixed maturity securities		$ 343	$ 291
Mortgage- and asset-backed securities | Lower Limit | Consensus pricing valuation technique | Level 3
Fair Value Measurement Inputs and Valuation Technique
Debt securities, available-for-sale, measurement input	[1]	97.38	104.79
Mortgage- and asset-backed securities | Upper Limit | Consensus pricing valuation technique | Level 3
Fair Value Measurement Inputs and Valuation Technique
Debt securities, available-for-sale, measurement input	[1]	106.71	111.36
Public utilities
Fair Value Measurement Inputs and Valuation Technique
Available for sale, fixed maturity securities		$ 7,666	$ 10,051
Public utilities | Level 3
Fair Value Measurement Inputs and Valuation Technique
Available for sale, fixed maturity securities		497	493
Public utilities | Discounted cash flow technique | Level 3
Fair Value Measurement Inputs and Valuation Technique
Available for sale, fixed maturity securities		$ 497	$ 493
Public utilities | Lower Limit | Discounted cash flow technique | Level 3
Fair Value Measurement Inputs and Valuation Technique
Debt securities, available-for-sale, measurement input	[2]	0.0128	0.0118
Public utilities | Upper Limit | Discounted cash flow technique | Level 3
Fair Value Measurement Inputs and Valuation Technique
Debt securities, available-for-sale, measurement input	[2]	0.0286	0.0260
Sovereign and supranational
Fair Value Measurement Inputs and Valuation Technique
Available for sale, fixed maturity securities		$ 834	$ 1,115
Sovereign and supranational | Level 3
Fair Value Measurement Inputs and Valuation Technique
Available for sale, fixed maturity securities		37	43
Sovereign and supranational | Consensus pricing valuation technique | Level 3
Fair Value Measurement Inputs and Valuation Technique
Available for sale, fixed maturity securities		37	43
Banks/financial institutions
Fair Value Measurement Inputs and Valuation Technique
Available for sale, fixed maturity securities		9,299	11,591
Banks/financial institutions | Level 3
Fair Value Measurement Inputs and Valuation Technique
Available for sale, fixed maturity securities		159	45
Banks/financial institutions | Consensus pricing valuation technique | Level 3
Fair Value Measurement Inputs and Valuation Technique
Available for sale, fixed maturity securities			$ 45
Banks/financial institutions | Discounted cash flow technique | Level 3
Fair Value Measurement Inputs and Valuation Technique
Available for sale, fixed maturity securities		$ 159
Banks/financial institutions | Lower Limit | Consensus pricing valuation technique | Level 3
Fair Value Measurement Inputs and Valuation Technique
Debt securities, available-for-sale, measurement input	[1]		100
Banks/financial institutions | Lower Limit | Discounted cash flow technique | Level 3
Fair Value Measurement Inputs and Valuation Technique
Debt securities, available-for-sale, measurement input	[2]	0.0067
Banks/financial institutions | Upper Limit | Consensus pricing valuation technique | Level 3
Fair Value Measurement Inputs and Valuation Technique
Debt securities, available-for-sale, measurement input	[1]		103
Banks/financial institutions | Upper Limit | Discounted cash flow technique | Level 3
Fair Value Measurement Inputs and Valuation Technique
Debt securities, available-for-sale, measurement input	[2]	0.0188
Other corporate
Fair Value Measurement Inputs and Valuation Technique
Available for sale, fixed maturity securities		$ 28,362	$ 37,837
Other corporate | Level 3
Fair Value Measurement Inputs and Valuation Technique
Available for sale, fixed maturity securities		742	426
Other corporate | Discounted cash flow technique | Level 3
Fair Value Measurement Inputs and Valuation Technique
Available for sale, fixed maturity securities		$ 742	$ 426
Other corporate | Lower Limit | Discounted cash flow technique | Level 3
Fair Value Measurement Inputs and Valuation Technique
Debt securities, available-for-sale, measurement input	[2]	0.0066	0.0121
Other corporate | Upper Limit | Discounted cash flow technique | Level 3
Fair Value Measurement Inputs and Valuation Technique
Debt securities, available-for-sale, measurement input	[2]	0.0647	0.0560
[1]Represents prices for securities where the Company receives unadjusted broker quotes and for which there is no transparency into the providers' valuation techniques.[2]Actual or equivalent credit spreads in basis points.

DEFERRED POLICY ACQUISITION C_3

DEFERRED POLICY ACQUISITION COSTS AND INSURANCE EXPENSES - Additional Information (Detail) - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Deferred Policy Acquisition Costs Disclosures [Abstract]
Capitalization of deferred policy acquisition costs	$ 1.1	$ 1.1	$ 1.2
Commissions deferred as a percentage of total acquisition costs	68%	71%	77%
Personnel, compensation and benefit expenses as a percentage of insurance expenses	60%	57%	59%

DEFERRED POLICY ACQUISITION C_4

DEFERRED POLICY ACQUISITION COSTS AND INSURANCE EXPENSES - Rollforward of Deferred Policy Acquisition Costs by Segment (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Deferred policy acquisition costs:
Balance, beginning of year	$ 9,525
Capitalization	1,100	$ 1,100	$ 1,200
Amortization	(1,152)	(1,170)	(1,214)
Balance, end of year	8,593	9,525
Aflac Japan
Deferred policy acquisition costs:
Balance, beginning of year	6,233	6,991
Capitalization	498	593
Amortization	(547)	(653)	(644)
Foreign currency translation and other	(829)	(698)
Balance, end of year	5,355	6,233	6,991
Aflac U.S.
Deferred policy acquisition costs:
Balance, beginning of year	3,292	3,450
Capitalization	556	470
Amortization	(605)	(517)	(570)
Foreign currency translation and other	(5)	(111)
Balance, end of year	$ 3,238	$ 3,292	$ 3,450

DEFERRED POLICY ACQUISITION C_5

DEFERRED POLICY ACQUISITION COSTS AND INSURANCE EXPENSES - Advertising Expense (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Advertising Costs [Line Items]
Advertising expense	$ 204	$ 229	$ 184
Aflac Japan
Advertising Costs [Line Items]
Advertising expense	77	91	72
Aflac U.S.
Advertising Costs [Line Items]
Advertising expense	$ 127	$ 138	$ 112

DEFERRED POLICY ACQUISITION C_6

DEFERRED POLICY ACQUISITION COSTS AND INSURANCE EXPENSES - Depreciation and Other Amortization Expense (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Deferred Policy Acquisition Costs Disclosures [Abstract]
Depreciation expense	$ 40	$ 39	$ 36
Other amortization expense	5	6	5
Total depreciation and other amortization expense	$ 45	$ 45	$ 41

POLICY LIABILITIES - Additional

POLICY LIABILITIES - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Liability for Future Policy Benefit, by Product Segment [Line Items]
Percentage of future policy benefits out of policy liabilities	86%
Percentage of unpaid policy claims out of policy liabilities	5%
Percentage of unearned premiums out of policy liabilities	2%
Percentage of other poliyholders' funds out of policy liabilities	7%
Percentage of advanced premiums to unearned premiums	49%	54%
Percentage of annuities to other policyholders' fund	96%	97%
Aflac Japan
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for future policy benefits, interest rate	3%	3.10%	3.10%
Aflac U.S.
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for future policy benefits, interest rate	5%	5.10%	5.20%
Health insurance
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year claims and claims adjustment expense	$ (633)	$ (860)	$ (540)
Health insurance | Aflac Japan
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year claims and claims adjustment expense	$ (373)
Percentage of total prior year claims and claims adjustment expense	59%
Liability for unpaid claims and claims adjustment expense, foreign currency translation gain (loss)	$ (57)
Prior year claims and claims adjustment expense excluding effect of foreign currency	$ (430)
Percentage of total prior year claims and claims adjustment expense excluding effect of foreign currency	68%
Health insurance | Aflac U.S.
Liability for Future Policy Benefit, by Product Segment [Line Items]
Prior year claims and claims adjustment expense	$ (260)
Percentage of total prior year claims and claims adjustment expense	41%
Prior year claims and claims adjustment expense from refinement of estimates	$ (91)

POLICY LIABILITIES - Liability

POLICY LIABILITIES - Liability for Future Policy Benefits (Detail) - USD ($) $ in Millions		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability amounts		$ 80,749	$ 90,588
Intercompany eliminations
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability amounts	[1]	$ (367)	$ (456)
Liability for future policy benefits, interest rate		2%
Aflac Japan
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for future policy benefits, interest rate		3%	3.10%	3.10%
Aflac U.S.
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for future policy benefits, interest rate		5%	5.10%	5.20%
Health insurance | Aflac Japan
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability amounts		$ 42,936	$ 49,421
Health insurance | Aflac Japan | Lower Limit
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for future policy benefits, interest rate		0.60%
Health insurance | Aflac Japan | Upper Limit
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for future policy benefits, interest rate		6.75%
Health insurance | Aflac U.S.
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability amounts		$ 8,972	8,949
Health insurance | Aflac U.S. | Lower Limit
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for future policy benefits, interest rate		3%
Health insurance | Aflac U.S. | Upper Limit
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for future policy benefits, interest rate		8%
Life insurance | Aflac Japan
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability amounts		$ 28,218	31,756
Life insurance | Aflac Japan | Lower Limit
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for future policy benefits, interest rate		0.60%
Life insurance | Aflac Japan | Upper Limit
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for future policy benefits, interest rate		4%
Life insurance | Aflac U.S.
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability amounts		$ 990	$ 918
Life insurance | Aflac U.S. | Lower Limit
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for future policy benefits, interest rate		2.50%
Life insurance | Aflac U.S. | Upper Limit
Liability for Future Policy Benefit, by Product Segment [Line Items]
Liability for future policy benefits, interest rate		6%
[1]Elimination entry necessary due to recapture of a portion of policy liabilities ceded externally, as a result of the reinsurance retrocession transaction as described in Note 8 of the Notes to the Consolidated Financial Statements

POLICY LIABILITIES - Changes in

POLICY LIABILITIES - Changes in Liability for Unpaid Policy Claims (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Liability for Unpaid Claims and Claims Expenses
Unpaid supplemental health claims, beginning of year	$ 4,836	$ 5,187
Net balance, beginning of year	4,836
Less claims paid during the year on claims incurred during:
Net balance, end of year	4,561	4,836
Total liability for unpaid policy claims	4,561	4,836	$ 5,187
Zurich North America's U.S. Corporate Life and Pensions business
Less claims paid during the year on claims incurred during:
Liability for Unpaid Claims and Claims Adjustment Expense, Business Acquisitions	0	0	99
Health insurance
Liability for Unpaid Claims and Claims Expenses
Unpaid supplemental health claims, beginning of year	4,067	4,389	3,968
Less reinsurance recoverables	37	39	30
Net balance, beginning of year	4,030	4,350	3,938
Add claims incurred during the year related to:
Current year	6,412	6,969	7,179
Prior years	(633)	(860)	(540)
Total incurred	5,779	6,109	6,639
Less claims paid during the year on claims incurred during:
Current year	3,973	4,356	4,488
Prior years	1,736	1,827	1,966
Total paid	5,709	6,183	6,454
Effect of foreign exchange rate changes on unpaid claims	(289)	(246)	128
Net balance, end of year	3,811	4,030	4,350
Add reinsurance recoverables	43	37	39
Total liability for unpaid policy claims	3,854	4,067	4,389
Life insurance
Liability for Unpaid Claims and Claims Expenses
Unpaid supplemental health claims, beginning of year	769	798
Less claims paid during the year on claims incurred during:
Total liability for unpaid policy claims	$ 707	$ 769	$ 798

REINSURANCE Additional Informat

REINSURANCE Additional Information (Detail) $ in Millions, ¥ in Billions	12 Months Ended
	Dec. 31, 2022 JPY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Effects of Reinsurance [Line Items]
Percent change in spot yen/dollar exchange rate		(13.30%)
Percent change in ceded reserves		(11.70%)
Aflac Japan
Effects of Reinsurance [Line Items]
Committed reinsurance facility | ¥	¥ 120
Aflac Japan | Closed block
Effects of Reinsurance [Line Items]
Reinsurance deferred profit liability		$ 692	$ 859
Reinsurance recoverable		$ 846	$ 957

REINSURANCE Effect of Reinsuran

REINSURANCE Effect of Reinsurance on Premiums and Benefits and Claims (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Effects of Reinsurance [Line Items]
Direct premium income	$ 15,387	$ 17,857	$ 18,955
Ceded premiums	(419)	(504)	(553)
Assumed premiums earned	295	294	220
Net premium income	15,263	17,647	18,622
Direct benefits and claims	9,255	10,716	12,080
Benefits and claims, net	9,153	10,576	11,796
Intercompany eliminations
Effects of Reinsurance [Line Items]
Ceded benefits and claims	23	31	39
Assumed benefits and claims from other companies	(23)	(31)	(39)
All other
Effects of Reinsurance [Line Items]
Ceded premiums	(76)	(73)	(87)
Assumed premiums earned	151	114	25
Ceded benefits and claims	(38)	(36)	(63)
Assumed benefits and claims from other companies	131	110	18
Aflac Japan
Effects of Reinsurance [Line Items]
Net premium income	9,548	11,853	12,670
Benefits and claims, net	6,565	7,963	8,851
Aflac Japan | Closed block
Effects of Reinsurance [Line Items]
Ceded premiums	(343)	(431)	(466)
Assumed premiums earned	144	180	195
Ceded benefits and claims	(340)	(379)	(419)
Assumed benefits and claims from other companies	$ 145	$ 165	$ 180

NOTES PAYABLE AND LEASE OBLIG_3

NOTES PAYABLE AND LEASE OBLIGATIONS - Additional Information (Detail) ¥ in Millions, $ in Millions		1 Months Ended								12 Months Ended
	Apr. 12, 2019 JPY (¥)	Sep. 30, 2022 USD ($) series	Aug. 31, 2022 JPY (¥)	Mar. 31, 2021 USD ($)	Apr. 30, 2020 USD ($)	Oct. 31, 2018 USD ($) series	Oct. 31, 2017 JPY (¥)	Dec. 31, 2016 USD ($)	Nov. 30, 2014 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2022 JPY (¥)	Oct. 31, 2022 USD ($)	Sep. 30, 2022 JPY (¥)	Dec. 31, 2021 JPY (¥)	Apr. 30, 2021 JPY (¥) series	Mar. 31, 2020 JPY (¥) series	Dec. 31, 2019 JPY (¥) series	Dec. 31, 2018	Oct. 31, 2018 JPY (¥) series	Mar. 31, 2017 USD ($)	Mar. 31, 2017 JPY (¥)	Jan. 31, 2017 JPY (¥)	Sep. 30, 2016 USD ($) series	Nov. 30, 2014 JPY (¥)	Aug. 31, 2010 USD ($)	Dec. 31, 2009 USD ($)
Debt Instrument [Line Items]
Number of series of senior notes issued through a U.S. public debt offering (in series) | series						3											5	4	4		3				2
Expense on extinguishment of debt | $											$ 48	$ 15
Operating lease, cost | $										$ 52	58	56
Operating lease, payments | $										$ 49	$ 56	$ 54
Operating lease, liability ext list										Notes payable and lease obligations	Notes payable and lease obligations		Notes payable and lease obligations			Notes payable and lease obligations
Finance lease, liability ext list										Notes payable and lease obligations	Notes payable and lease obligations		Notes payable and lease obligations			Notes payable and lease obligations
Number of senior notes issued | series		4
3.60% senior notes due April 2030
Debt Instrument [Line Items]
Debt instrument, interest rate					3.60%					3.60%	3.60%		3.60%			3.60%
Debt instrument, redemption, description					These notes are redeemable at the Parent Company's option in whole at any time or in part from time to time at a redemption price equal to the greater of: (i) the aggregate principal amount of the notes to be redeemed or (ii) the amount equal to the sum of the present values of the remaining scheduled payments for principal of and interest on the notes to be redeemed, not including any portion of the payments of interest accrued as of such redemption date, discounted to such redemption date on a semiannual basis at the yield to maturity for a U.S. Treasury security with a maturity comparable to the remaining term of the notes, plus 45 basis points, plus in each case, accrued and unpaid interest on the principal amount of the notes to be redeemed to, but excluding, such redemption date.
Debt instrument, principal amount | $					$ 1,000
.300% senior notes due September 2025
Debt Instrument [Line Items]
Debt instrument, interest rate										0.30%	0.30%		0.30%			0.30%		0.30%
Debt instrument, principal amount													¥ 12,400			¥ 12,400		¥ 12,400
.550% senior notes due March 2030
Debt Instrument [Line Items]
Debt instrument, interest rate										0.55%	0.55%		0.55%			0.55%		0.55%
Debt instrument, principal amount													¥ 13,300			¥ 13,300		¥ 13,300
.750% senior notes due March 2032
Debt Instrument [Line Items]
Debt instrument, interest rate										0.75%	0.75%		0.75%			0.75%		0.75%
Debt instrument, principal amount													¥ 20,700			¥ 20,700		¥ 20,700
.830% senior notes due March 2035
Debt Instrument [Line Items]
Debt instrument, interest rate										0.83%	0.83%		0.83%			0.83%		0.83%
Debt instrument, principal amount													¥ 10,600			¥ 10,600		¥ 10,600
.500% senior notes due December 2029
Debt Instrument [Line Items]
Debt instrument, interest rate										0.50%	0.50%		0.50%			0.50%			0.50%
Debt instrument, principal amount													¥ 12,600			¥ 12,600			¥ 12,600
.843% senior notes due December 2031
Debt Instrument [Line Items]
Debt instrument, interest rate										0.843%	0.843%		0.843%			0.843%			0.843%
Debt instrument, principal amount													¥ 9,300			¥ 9,300			¥ 9,300
.934% senior notes due December 2034
Debt Instrument [Line Items]
Debt instrument, interest rate										0.934%	0.934%		0.934%			0.934%			0.934%
Debt instrument, principal amount													¥ 9,800			¥ 9,800			¥ 9,800
1.122% senior notes due December 2039
Debt Instrument [Line Items]
Debt instrument, interest rate										1.122%	1.122%		1.122%			1.122%			1.122%
Debt instrument, principal amount													¥ 6,300			¥ 6,300			¥ 6,300
.963% subordinated bonds due April 2049
Debt Instrument [Line Items]
Debt instrument, interest rate	0.963%									0.963%	0.963%		0.963%			0.963%
Debt instrument, description of variable rate basis	These bonds bear interest at a fixed rate of .963% per annum and then at six-month Euro Yen LIBOR plus an applicable spread on and after the day immediately following April 18, 2024.
Debt instrument, principal amount	¥ 30,000												¥ 30,000			¥ 30,000
4.750% senior notes due January 2049
Debt Instrument [Line Items]
Debt instrument, interest rate						4.75%				4.75%	4.75%		4.75%			4.75%					4.75%
Debt instrument, redemption, description						These notes are redeemable at the Parent Company's option in whole at any time or in part from time to time at a redemption price equal to the greater of: (i) the aggregate principal amount of the notes to be redeemed or (ii) the amount equal to the sum of the present values of the remaining scheduled payments for principal of and interest on the notes to be redeemed, not including any portion of the payments of interest accrued as of such redemption date, discounted to such redemption date on a semiannual basis at the yield to maturity for a U.S. Treasury security with a maturity comparable to the remaining term of the notes, plus 25 basis points, plus in each case, accrued and unpaid interest on the principal amount of the notes to be redeemed to, but excluding, such redemption date.
Debt instrument, principal amount | $						$ 550
1.159% senior notes due October 2030
Debt Instrument [Line Items]
Debt instrument, interest rate						1.159%				1.159%	1.159%		1.159%			1.159%					1.159%
Debt instrument, principal amount													¥ 29,300			¥ 29,300					¥ 29,300
1.488% senior notes due October 2033
Debt Instrument [Line Items]
Debt instrument, interest rate						1.488%				1.488%	1.488%		1.488%			1.488%					1.488%
Debt instrument, principal amount													¥ 15,200			¥ 15,200					¥ 15,200
1.750% senior notes due October 2038
Debt Instrument [Line Items]
Debt instrument, interest rate						1.75%				1.75%	1.75%		1.75%			1.75%					1.75%
Debt instrument, principal amount													¥ 8,900			¥ 8,900					¥ 8,900
2.108% subordinated notes due October 2047
Debt Instrument [Line Items]
Debt instrument, interest rate							2.108%			2.108%	2.108%		2.108%			2.108%
Debt instrument, redemption, description							The debentures are redeemable (i) at any time, in whole but not in part, upon the occurrence of certain tax events or certain rating agency events, as specified in the indenture governing the terms of the debentures or (ii) on or after October 23, 2027, in whole or in part, at a redemption price equal to their principal amount plus accrued and unpaid interest to, but excluding, the date of redemption.
Debt instrument, interest rate terms							The debentures bear interest at an initial rate of 2.108% per annum through October 22, 2027, or earlier redemption. Thereafter, the rate of the interest of the debentures will be reset every five years at a rate of interest equal to the then-current JPY 5-year Swap Offered Rate plus 205 basis points.
Debt instrument, principal amount							¥ 60,000						¥ 60,000			¥ 60,000
.932% senior notes due January 2027
Debt Instrument [Line Items]
Debt instrument, interest rate										0.932%	0.932%		0.932%			0.932%								0.932%
Debt instrument, principal amount													¥ 60,000			¥ 60,000								¥ 60,000
2.875% senior notes due October 2026
Debt Instrument [Line Items]
Debt instrument, interest rate										2.875%	2.875%		2.875%			2.875%									2.875%
Debt instrument, principal amount | $																									$ 300
4.00% senior noted due October 2046
Debt Instrument [Line Items]
Debt instrument, interest rate										4%	4%		4%			4%									4%
Debt instrument, principal amount | $																									$ 400
3.25% senior notes due March 2025
Debt Instrument [Line Items]
Debt instrument, interest rate										3.25%	3.25%		3.25%	3.25%		3.25%						3.25%	3.25%
Debt instrument effective principal amount after cross currency swap																							¥ 55,000
Debt instrument, principal amount | $																						$ 450
Debt instrument, effective interest rate																						0.82%	0.82%
Debt Instrument, Repurchased Face Amount | $														$ 450
3.625% senior notes due November 2024
Debt Instrument [Line Items]
Debt instrument, interest rate		3.625%							3.625%	3.625%	3.625%		3.625%		3.625%	3.625%										3.625%
Debt instrument, redemption, description									These notes are redeemable at the Parent Company's option in whole at any time or in part from time to time at a redemption price equal to the greater of: (i) the aggregate principal amount of the notes to be redeemed or (ii) the amount equal to the sum of the present values of the remaining scheduled payments for principal of and interest on the notes to be redeemed, not including any portion of the payments of interest accrued as of such redemption date, discounted to such redemption date on a semiannual basis at the treasury rate plus 20 basis points, plus in each case, accrued and unpaid interest on the principal amount of the notes to be redeemed to, but excluding, such redemption date.
Debt instrument effective principal amount after cross currency swap																										¥ 85,300
Debt instrument, principal amount | $									$ 750
Debt instrument, effective interest rate									1%																	1%
Debt Instrument, Repurchased Face Amount | $		$ 750
6.90% senior notes due December 2039
Debt Instrument [Line Items]
Repayments of debt | $								$ 176
Debt instrument, interest rate								6.90%		6.90%	6.90%		6.90%			6.90%
Debt instrument, principal amount | $																												$ 400
6.45% senior notes due August 2040
Debt Instrument [Line Items]
Repayments of debt | $								$ 193
Debt instrument, interest rate										6.45%	6.45%		6.45%			6.45%				6.45%
Debt instrument, principal amount | $																											$ 450
Senior Notes due 2039 and 2040
Debt Instrument [Line Items]
Expense on extinguishment of debt | $								$ 137
Senior notes
Debt Instrument [Line Items]
Debt instrument, principal amount															¥ 73,000		¥ 82,000	¥ 57,000	¥ 38,000		¥ 53,400				$ 700
Notes Payable
Debt Instrument [Line Items]
Debt instrument, debt default, amount | $										$ 0	$ 0
.633% senior notes due April 2031
Debt Instrument [Line Items]
Debt instrument, interest rate										0.633%	0.633%		0.633%			0.633%	0.633%
Debt instrument, principal amount													¥ 30,000			¥ 30,000	¥ 30,000
.844% senior notes due April 2033
Debt Instrument [Line Items]
Debt instrument, interest rate										0.844%	0.844%		0.844%			0.844%	0.844%
Debt instrument, principal amount													¥ 12,000			¥ 12,000	¥ 12,000
1.039% senior notes due April 2036
Debt Instrument [Line Items]
Debt instrument, interest rate										1.039%	1.039%		1.039%			1.039%	1.039%
Debt instrument, principal amount													¥ 10,000			¥ 10,000	¥ 10,000
1.264% senior notes due April 2041
Debt Instrument [Line Items]
Debt instrument, interest rate										1.264%	1.264%		1.264%			1.264%	1.264%
Debt instrument, principal amount													¥ 10,000			¥ 10,000	¥ 10,000
1.560% senior notes due April 2051
Debt Instrument [Line Items]
Debt instrument, interest rate										1.56%	1.56%		1.56%			1.56%	1.56%
Debt instrument, principal amount													¥ 20,000			¥ 20,000	¥ 20,000
1.125% senior notes due March 2026
Debt Instrument [Line Items]
Debt instrument, interest rate				1.125%						1.125%	1.125%		1.125%			1.125%
Debt instrument, redemption, description				These notes are redeemable at the Parent Company's option in whole at any time or in part from time to time at a redemption price equal to the greater of: (i) the aggregate principal amount of the notes to be redeemed or (ii) the amount equal to the sum of the present values of the remaining scheduled payments for principal of and interest on the notes to be redeemed, not including any portion of the payments of interest accrued as of such redemption date, discounted to such redemption date on a semiannual basis at the yield to maturity for a U.S. Treasury security with a maturity comparable to the remaining term of the notes, plus 10 basis points, plus in each case, accrued and unpaid interest on the principal amount of the notes to be redeemed to, but excluding, such redemption date.
Debt instrument, principal amount | $				$ 400
1.075% senior notes due September 2029
Debt Instrument [Line Items]
Debt instrument, interest rate		1.075%								1.075%			1.075%		1.075%
Debt instrument, principal amount													¥ 33,400		¥ 33,400
1.320% senior notes due December 2032
Debt Instrument [Line Items]
Debt instrument, interest rate		1.32%								1.32%			1.32%		1.32%
Debt instrument, principal amount													¥ 21,100		¥ 21,100
1.594% senior notes due September 2037
Debt Instrument [Line Items]
Debt instrument, interest rate		1.594%								1.594%			1.594%		1.594%
Debt instrument, principal amount													¥ 6,500		¥ 6,500
2.144% senior notes due September 2052
Debt Instrument [Line Items]
Debt instrument, interest rate		2.144%								2.144%			2.144%		2.144%
Debt instrument, principal amount													¥ 12,000		¥ 12,000
Yen-denominated loans
Debt Instrument [Line Items]
Debt instrument, principal amount			¥ 107,000
Yen-denominated loan variable interest rate due August 2027
Debt Instrument [Line Items]
Debt instrument, interest rate										0.33%			0.33%
Debt instrument, principal amount			11,700										¥ 11,700
Yen-denominated loan variable interest rate due August 2029
Debt Instrument [Line Items]
Debt instrument, interest rate										0.43%	0.41%		0.43%			0.41%
Debt instrument, principal amount			25,300										¥ 25,300			¥ 5,000
Yen-denominated loan variable interest rate due August 2032
Debt Instrument [Line Items]
Debt instrument, interest rate										0.58%	0.56%		0.58%			0.56%
Debt instrument, principal amount			¥ 70,000										¥ 70,000			¥ 25,000
Lower Limit | Yen-denominated loan variable interest rate due August 2027 | Tokyo Interbank Offered Rate (TIBOR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			0.225%
Lower Limit | Yen-denominated loan variable interest rate due August 2029 | Tokyo Interbank Offered Rate (TIBOR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			0.325%
Lower Limit | Yen-denominated loan variable interest rate due August 2032 | Tokyo Interbank Offered Rate (TIBOR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			0.475%
Upper Limit | Yen-denominated loan variable interest rate due August 2027 | Tokyo Interbank Offered Rate (TIBOR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			0.625%
Upper Limit | Yen-denominated loan variable interest rate due August 2029 | Tokyo Interbank Offered Rate (TIBOR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			0.725%
Upper Limit | Yen-denominated loan variable interest rate due August 2032 | Tokyo Interbank Offered Rate (TIBOR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			1.025%
Line of Credit
Debt Instrument [Line Items]
Debt instrument, debt default, amount | $										$ 0	$ 0

NOTES PAYABLE AND LEASE OBLIG_4

NOTES PAYABLE AND LEASE OBLIGATIONS - Summary of Notes Payable (Detail 1) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Notes payable and lease obligations	$ 7,442	$ 7,956
Finance lease, liability	$ 8	$ 12
Finance lease, liability ext list	Notes payable and lease obligations	Notes payable and lease obligations
Operating lease, liability	$ 139	$ 105
Operating lease, liability ext list	Notes payable and lease obligations	Notes payable and lease obligations
3.625% senior notes due November 2024
Debt Instrument [Line Items]
Notes payable and lease obligations	$ 0	$ 748
3.25% senior notes due March 2025
Debt Instrument [Line Items]
Notes payable and lease obligations	0	448
1.125% senior notes due March 2026
Debt Instrument [Line Items]
Notes payable and lease obligations	397	397
2.875% senior notes due October 2026
Debt Instrument [Line Items]
Notes payable and lease obligations	298	298
3.60% senior notes due April 2030
Debt Instrument [Line Items]
Notes payable and lease obligations	992	991
6.90% senior notes due December 2039
Debt Instrument [Line Items]
Notes payable and lease obligations	221	221
6.45% senior notes due August 2040
Debt Instrument [Line Items]
Notes payable and lease obligations	254	255
4.00% senior noted due October 2046
Debt Instrument [Line Items]
Notes payable and lease obligations	394	394
4.750% senior notes due January 2049
Debt Instrument [Line Items]
Notes payable and lease obligations	541	541
.300% senior notes due September 2025
Debt Instrument [Line Items]
Notes payable and lease obligations	93	107
.932% senior notes due January 2027
Debt Instrument [Line Items]
Notes payable and lease obligations	450	520
1.075% senior notes due September 2029
Debt Instrument [Line Items]
Notes payable and lease obligations	250	0
.500% senior notes due December 2029
Debt Instrument [Line Items]
Notes payable and lease obligations	95	109
.550% senior notes due March 2030
Debt Instrument [Line Items]
Notes payable and lease obligations	99	115
1.159% senior notes due October 2030
Debt Instrument [Line Items]
Notes payable and lease obligations	220	254
.633% senior notes due April 2031
Debt Instrument [Line Items]
Notes payable and lease obligations	225	259
.843% senior notes due December 2031
Debt Instrument [Line Items]
Notes payable and lease obligations	70	81
.750% senior notes due March 2032
Debt Instrument [Line Items]
Notes payable and lease obligations	155	179
1.320% senior notes due December 2032
Debt Instrument [Line Items]
Notes payable and lease obligations	158	0
.844% senior notes due April 2033
Debt Instrument [Line Items]
Notes payable and lease obligations	90	104
1.488% senior notes due October 2033
Debt Instrument [Line Items]
Notes payable and lease obligations	114	131
.934% senior notes due December 2034
Debt Instrument [Line Items]
Notes payable and lease obligations	73	85
.830% senior notes due March 2035
Debt Instrument [Line Items]
Notes payable and lease obligations	79	91
1.039% senior notes due April 2036
Debt Instrument [Line Items]
Notes payable and lease obligations	75	86
1.594% senior notes due September 2037
Debt Instrument [Line Items]
Notes payable and lease obligations	49	0
1.750% senior notes due October 2038
Debt Instrument [Line Items]
Notes payable and lease obligations	66	77
1.122% senior notes due December 2039
Debt Instrument [Line Items]
Notes payable and lease obligations	47	54
1.264% senior notes due April 2041
Debt Instrument [Line Items]
Notes payable and lease obligations	75	86
2.108% subordinated notes due October 2047
Debt Instrument [Line Items]
Notes payable and lease obligations	448	517
.963% subordinated bonds due April 2049
Debt Instrument [Line Items]
Notes payable and lease obligations	226	260
1.560% senior notes due April 2051
Debt Instrument [Line Items]
Notes payable and lease obligations	149	172
2.144% senior notes due September 2052
Debt Instrument [Line Items]
Notes payable and lease obligations	90	0
Yen-denominated loan variable interest rate due August 2027
Debt Instrument [Line Items]
Notes payable and lease obligations	88	0
Yen-denominated loan variable interest rate due August 2029
Debt Instrument [Line Items]
Notes payable and lease obligations	190	43
Yen-denominated loan variable interest rate due August 2032
Debt Instrument [Line Items]
Notes payable and lease obligations	$ 524	$ 216

NOTES PAYABLE AND LEASE OBLIG_5

NOTES PAYABLE AND LEASE OBLIGATIONS - Summary of Notes Payable (Detail 2) ¥ in Millions, $ in Millions	Dec. 31, 2022 JPY (¥)	Oct. 31, 2022	Sep. 30, 2022 JPY (¥)	Aug. 31, 2022 JPY (¥)	Dec. 31, 2021 JPY (¥)	Apr. 30, 2021 JPY (¥)	Mar. 31, 2021 USD ($)	Apr. 30, 2020 USD ($)	Mar. 31, 2020 JPY (¥)	Dec. 31, 2019 JPY (¥)	Apr. 12, 2019 JPY (¥)	Dec. 31, 2018	Oct. 31, 2018 JPY (¥)	Oct. 31, 2018 USD ($)	Oct. 31, 2017 JPY (¥)	Mar. 31, 2017 USD ($)	Jan. 31, 2017 JPY (¥)	Dec. 31, 2016	Sep. 30, 2016 USD ($)	Nov. 30, 2014 USD ($)	Aug. 31, 2010 USD ($)	Dec. 31, 2009 USD ($)
3.625% senior notes due November 2024
Debt Instrument [Line Items]
Debt instrument, interest rate	3.625%		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%											3.25%
Debt instrument, principal amount | $																$ 450
1.125% senior notes due March 2026
Debt Instrument [Line Items]
Debt instrument, interest rate	1.125%				1.125%		1.125%
Debt instrument, principal amount | $							$ 400
2.875% senior notes due October 2026
Debt Instrument [Line Items]
Debt instrument, interest rate	2.875%				2.875%														2.875%
Debt instrument, principal amount | $																			$ 300
3.60% senior notes due April 2030
Debt Instrument [Line Items]
Debt instrument, interest rate	3.60%				3.60%			3.60%
Debt instrument, principal amount | $								$ 1,000
6.90% senior notes due December 2039
Debt Instrument [Line Items]
Debt instrument, interest rate	6.90%				6.90%													6.90%
Debt instrument, principal amount | $																						$ 400
6.45% senior notes due August 2040
Debt Instrument [Line Items]
Debt instrument, interest rate	6.45%				6.45%							6.45%
Debt instrument, principal amount | $																					$ 450
4.00% senior noted due October 2046
Debt Instrument [Line Items]
Debt instrument, interest rate	4%				4%														4%
Debt instrument, principal amount | $																			$ 400
4.750% senior notes due January 2049
Debt Instrument [Line Items]
Debt instrument, interest rate	4.75%				4.75%								4.75%	4.75%
Debt instrument, principal amount | $														$ 550
.300% senior notes due September 2025
Debt Instrument [Line Items]
Debt instrument, interest rate	0.30%				0.30%				0.30%
Debt instrument, principal amount	¥ 12,400				¥ 12,400				¥ 12,400
.932% senior notes due January 2027
Debt Instrument [Line Items]
Debt instrument, interest rate	0.932%				0.932%												0.932%
Debt instrument, principal amount	¥ 60,000				¥ 60,000												¥ 60,000
1.075% senior notes due September 2029
Debt Instrument [Line Items]
Debt instrument, interest rate	1.075%		1.075%
Debt instrument, principal amount	¥ 33,400		¥ 33,400
.500% senior notes due December 2029
Debt Instrument [Line Items]
Debt instrument, interest rate	0.50%				0.50%					0.50%
Debt instrument, principal amount	¥ 12,600				¥ 12,600					¥ 12,600
.550% senior notes due March 2030
Debt Instrument [Line Items]
Debt instrument, interest rate	0.55%				0.55%				0.55%
Debt instrument, principal amount	¥ 13,300				¥ 13,300				¥ 13,300
1.159% senior notes due October 2030
Debt Instrument [Line Items]
Debt instrument, interest rate	1.159%				1.159%								1.159%	1.159%
Debt instrument, principal amount	¥ 29,300				¥ 29,300								¥ 29,300
.633% senior notes due April 2031
Debt Instrument [Line Items]
Debt instrument, interest rate	0.633%				0.633%	0.633%
Debt instrument, principal amount	¥ 30,000				¥ 30,000	¥ 30,000
.843% senior notes due December 2031
Debt Instrument [Line Items]
Debt instrument, interest rate	0.843%				0.843%					0.843%
Debt instrument, principal amount	¥ 9,300				¥ 9,300					¥ 9,300
.750% senior notes due March 2032
Debt Instrument [Line Items]
Debt instrument, interest rate	0.75%				0.75%				0.75%
Debt instrument, principal amount	¥ 20,700				¥ 20,700				¥ 20,700
1.320% senior notes due December 2032
Debt Instrument [Line Items]
Debt instrument, interest rate	1.32%		1.32%
Debt instrument, principal amount	¥ 21,100		¥ 21,100
.844% senior notes due April 2033
Debt Instrument [Line Items]
Debt instrument, interest rate	0.844%				0.844%	0.844%
Debt instrument, principal amount	¥ 12,000				¥ 12,000	¥ 12,000
1.488% senior notes due October 2033
Debt Instrument [Line Items]
Debt instrument, interest rate	1.488%				1.488%								1.488%	1.488%
Debt instrument, principal amount	¥ 15,200				¥ 15,200								¥ 15,200
.934% senior notes due December 2034
Debt Instrument [Line Items]
Debt instrument, interest rate	0.934%				0.934%					0.934%
Debt instrument, principal amount	¥ 9,800				¥ 9,800					¥ 9,800
.830% senior notes due March 2035
Debt Instrument [Line Items]
Debt instrument, interest rate	0.83%				0.83%				0.83%
Debt instrument, principal amount	¥ 10,600				¥ 10,600				¥ 10,600
1.039% senior notes due April 2036
Debt Instrument [Line Items]
Debt instrument, interest rate	1.039%				1.039%	1.039%
Debt instrument, principal amount	¥ 10,000				¥ 10,000	¥ 10,000
1.594% senior notes due September 2037
Debt Instrument [Line Items]
Debt instrument, interest rate	1.594%		1.594%
Debt instrument, principal amount	¥ 6,500		¥ 6,500
1.750% senior notes due October 2038
Debt Instrument [Line Items]
Debt instrument, interest rate	1.75%				1.75%								1.75%	1.75%
Debt instrument, principal amount	¥ 8,900				¥ 8,900								¥ 8,900
1.122% senior notes due December 2039
Debt Instrument [Line Items]
Debt instrument, interest rate	1.122%				1.122%					1.122%
Debt instrument, principal amount	¥ 6,300				¥ 6,300					¥ 6,300
1.264% senior notes due April 2041
Debt Instrument [Line Items]
Debt instrument, interest rate	1.264%				1.264%	1.264%
Debt instrument, principal amount	¥ 10,000				¥ 10,000	¥ 10,000
2.108% subordinated notes due October 2047
Debt Instrument [Line Items]
Debt instrument, interest rate	2.108%				2.108%										2.108%
Debt instrument, principal amount	¥ 60,000				¥ 60,000										¥ 60,000
.963% subordinated bonds due April 2049
Debt Instrument [Line Items]
Debt instrument, interest rate	0.963%				0.963%						0.963%
Debt instrument, principal amount	¥ 30,000				¥ 30,000						¥ 30,000
1.560% senior notes due April 2051
Debt Instrument [Line Items]
Debt instrument, interest rate	1.56%				1.56%	1.56%
Debt instrument, principal amount	¥ 20,000				¥ 20,000	¥ 20,000
2.144% senior notes due September 2052
Debt Instrument [Line Items]
Debt instrument, interest rate	2.144%		2.144%
Debt instrument, principal amount	¥ 12,000		¥ 12,000
Yen-denominated loan variable interest rate due August 2027
Debt Instrument [Line Items]
Debt instrument, interest rate	0.33%
Debt instrument, principal amount	¥ 11,700			¥ 11,700
Yen-denominated loan variable interest rate due August 2029
Debt Instrument [Line Items]
Debt instrument, interest rate	0.43%				0.41%
Debt instrument, principal amount	¥ 25,300			25,300	¥ 5,000
Yen-denominated loan variable interest rate due August 2032
Debt Instrument [Line Items]
Debt instrument, interest rate	0.58%				0.56%
Debt instrument, principal amount	¥ 70,000			¥ 70,000	¥ 25,000

NOTES PAYABLE AND LEASE OBLIG_6

NOTES PAYABLE AND LEASE OBLIGATIONS - Aggregate Contractual Maturities of Notes Payable (Detail) $ in Millions	Dec. 31, 2022 USD ($)
Debt Disclosure [Abstract]
2023	$ 0
2024	0
2025	93
2026	700
2027	540
Thereafter	6,021
Total	$ 7,354

NOTES PAYABLE AND LEASE OBLIG_7

NOTES PAYABLE AND LEASE OBLIGATIONS - Summary of Lines of Credit (Detail) - 12 months ended Dec. 31, 2022 ¥ in Millions, $ in Millions	USD ($)	JPY (¥)
$100 million line of credit
Line of Credit Facility [Line Items]
Line of credit facility, interest rate description	The rate quoted by the bank and agreed upon at the time of borrowing
Line of credit facility term	364 days
Line of credit facility, maximum borrowing capacity	$ 100
Line of credit facility, amount outstanding	$ 0
100.0 billion yen line of credit
Line of Credit Facility [Line Items]
Line of credit facility, interest rate description	A rate per annum equal to (a) TIBOR plus, the alternative applicable TIBOR margin during the availability period from the closing date to the commitment termination date or (b) the TIBOR rate offered by the agent to major banks in yen for the applicable period plus, the applicable alternative TIBOR margin during the term out period
Line of credit facility term	5 years
Line of credit facility, maximum borrowing capacity | ¥		¥ 100,000
Line of credit facility, amount outstanding | ¥		0
$1.0 billion line of credit
Line of Credit Facility [Line Items]
Line of credit facility, interest rate description	A rate per annum equal to, at the Company's option, either, (a) Secured Overnight Financing Rate (SOFR) for U.S. dollar denominated borrowings or TIBOR for Japanese yen denominated borrowings, in either case adjusted for certain costs, or (b) a base rate determined by reference to the highest of (1) the federal funds rate plus 1/2 of 1%, (2) the rate of interest for such day announced by the agent as its prime rate, or (3) SOFR for an interest period of one month plus 1.00%, in each case plus an applicable margin
Line of credit facility term	5 years
Line of credit facility, maximum borrowing capacity	$ 1,000
Line of credit facility, amount outstanding	$ 0
$50 million line of credit
Line of Credit Facility [Line Items]
Line of credit facility, interest rate description	A rate per annum equal to, at the Parent Company's option, either (a) a rate determined by reference to USD LIBOR for the interest period relevant to such borrowing or (b) the base rate determined by reference to the highest of (a) the lender's USD short-term commercial loan rate, (b) the federal funds rate plus 1/2 of 1% and (c) USD one-month LIBOR plus 1%. USD LIBOR is subject to replacement with SOFR under certain circumstances
Line of credit facility, maximum borrowing capacity	$ 50
Line of credit facility, amount outstanding	$ 0
$250 million line of credit
Line of Credit Facility [Line Items]
Line of credit facility, interest rate description	USD three-month LIBOR plus 75 basis points per annum
Line of credit facility term	364 days
Line of credit facility, maximum borrowing capacity	$ 250
Line of credit facility, amount outstanding	$ 0
50.0 billion yen line of credit (Tranche 1)
Line of Credit Facility [Line Items]
Line of credit facility, interest rate description	Three-month TIBOR plus 45 basis points per annum
Line of credit facility term	364 days
Line of credit facility, maximum borrowing capacity | ¥		50,000
Line of credit facility, amount outstanding | ¥		0
50.0 billion yen line of credit (Tranche 2)
Line of Credit Facility [Line Items]
Line of credit facility, interest rate description	Three-month TIBOR plus 45 basis points per annum
Line of credit facility term	364 days
Line of credit facility, maximum borrowing capacity | ¥		50,000
Line of credit facility, amount outstanding | ¥		0
$25 million line of credit
Line of Credit Facility [Line Items]
Line of credit facility, interest rate description	USD three-month LIBOR plus 75 basis points per annum
Line of credit facility term	364 days
Line of credit facility, maximum borrowing capacity	$ 25
Line of credit facility, amount outstanding	$ 0
$15 million line of credit
Line of Credit Facility [Line Items]
Line of credit facility, interest rate description	USD three-month LIBOR plus 75 basis points per annum
Line of credit facility term	364 days
Line of credit facility, maximum borrowing capacity	$ 15
Line of credit facility, amount outstanding	$ 0
$300 thousand line of credit
Line of Credit Facility [Line Items]
Line of credit facility, interest rate description	USD three-month LIBOR plus 75 basis points per annum
Line of credit facility term	364 days
Line of credit facility, maximum borrowing capacity	$ 0.3
Line of credit facility, amount outstanding	$ 0
500 hundred million yen line of credit
Line of Credit Facility [Line Items]
Line of credit facility, interest rate description	A rate per annum equal to the short-term prime lending rates of banks appearing on the website for the Bank of Japan on the first day of the applicable period
Line of credit facility term	364 days
Line of credit facility, maximum borrowing capacity | ¥		500
Line of credit facility, amount outstanding | ¥		350
Nine hundred million yen line of credit
Line of Credit Facility [Line Items]
Line of credit facility, interest rate description	A rate per annum equal to the short-term prime lending rates of banks appearing on the website for the Bank of Japan on the first day of the applicable period
Line of credit facility term	364 days
Line of credit facility, maximum borrowing capacity | ¥		900
Line of credit facility, amount outstanding | ¥		0
Six hundred million yen line of credit
Line of Credit Facility [Line Items]
Line of credit facility, interest rate description	A rate per annum equal to the short-term prime lending rates of banks appearing on the website for the Bank of Japan on the first day of the applicable period
Line of credit facility term	364 days
Line of credit facility, maximum borrowing capacity | ¥		600
Line of credit facility, amount outstanding | ¥		¥ 0
$30 million line of credit
Line of Credit Facility [Line Items]
Line of credit facility, interest rate description	USD three-month LIBOR plus 75 basis points per annum
Line of credit facility term	364 days
Line of credit facility, maximum borrowing capacity	$ 30
Line of credit facility, amount outstanding	$ 0
Lower Limit | 100.0 billion yen line of credit
Line of Credit Facility [Line Items]
Line of credit facility, commitment fee percentage	0.28%
Lower Limit | $1.0 billion line of credit
Line of Credit Facility [Line Items]
Line of credit facility, commitment fee percentage	0.08%
Upper Limit | $100 million line of credit
Line of Credit Facility [Line Items]
Debt instrument, term	3 months
Upper Limit | 100.0 billion yen line of credit
Line of Credit Facility [Line Items]
Line of credit facility, commitment fee percentage	0.45%
Upper Limit | $1.0 billion line of credit
Line of Credit Facility [Line Items]
Line of credit facility, commitment fee percentage	0.20%
Upper Limit | $50 million line of credit
Line of Credit Facility [Line Items]
Debt instrument, term	3 months

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions		1 Months Ended	12 Months Ended
	Jan. 01, 2023	Sep. 30, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes [Line Items]
Japan Tax Rate			28%	28%	28%
U.S. federal statutory corporate income tax rate			21%	21%	21%
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax Asset (Liability)		$ 1,400	$ 452
Non-life operating loss carryforwards, limitations			only 35% of non-life operating losses can be offset against life insurance taxable income each year
Non-life operating loss carryforwards			$ 18
Unrecognized tax benefit, deductibility highly certain, timing uncertain			0
Unrecognized tax benefits, permanent uncertainties			5
Unrecognized tax benefits, interest and penalties expense			0	$ 1	$ 1
Unrecognized tax benefits, accrued interest and penalties			$ 0	$ 0
Income tax benefit from release of deferred tax liability, earnings per share, basic			$ 0.71
Income tax benefit from release of deferred tax liability, earnings per share, diluted			$ 0.71
Subsequent Event
Income Taxes [Line Items]
Inflation Reduction Act, Alternative Minimum Corporate Tax Rate	15%
Inflation Reduction Act, Excise Tax on Share Repurchases	1%
Capital Loss Carryforward
Income Taxes [Line Items]
Tax credit carryforward, amount			$ 0
Foreign Tax Credit
Income Taxes [Line Items]
Tax credit carryforward, amount			65
Tax Year 2030 | Foreign Tax Credit
Income Taxes [Line Items]
Tax credit carryforward, amount			20
Tax Year 2031 | Foreign Tax Credit
Income Taxes [Line Items]
Tax credit carryforward, amount			20
Tax Year 2032 | Foreign Tax Credit
Income Taxes [Line Items]
Tax credit carryforward, amount			$ 25

INCOME TAXES - Components of In

INCOME TAXES - Components of Income Tax Expense (Benefit) Applicable to Pretax Earnings (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of Provision of Income Taxes [Line Items]
Current	$ 1,181	$ 1,095	$ 794
Deferred	(778)	(98)	(1,413)
Total income tax expense	403	997	(619)
Aflac Japan
Reconciliation of Provision of Income Taxes [Line Items]
Current	913	884	822
Deferred	200	251	(28)
Total income tax expense	1,113	1,135	794
Aflac U.S.
Reconciliation of Provision of Income Taxes [Line Items]
Current	268	211	(28)
Deferred	(978)	(349)	(1,385)
Total income tax expense	$ (710)	$ (138)	$ (1,413)

INCOME TAXES - Principal Reason

INCOME TAXES - Principal Reasons for Differences and Related Tax Effects where Income Tax Expense Varies from Amount Computed by Applying Expected United States Tax Rate to Pretax Earnings (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income taxes based on U.S. statutory rates	$ 967	$ 1,118	$ 873
Valuation allowance release	0	0	(1,411)
Other, net	(112)	(121)	(81)
DST	(452)	0	0
Total income tax expense	$ 403	$ 997	$ (619)

INCOME TAXES - Total Income Tax

INCOME TAXES - Total Income Tax Expense (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Statements of earnings	$ 403	$ 997	$ (619)
Other comprehensive income (loss):
Unrealized foreign currency translation gains (losses) during period	547	15	(3)
Unrealized gains (losses) on investment securities:
Unrealized holding gains (losses) on investment securities during period	(2,752)	(194)	223
Reclassification adjustment for realized (gains) losses on investment securities included in net earnings	0	(7)	33
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, Tax	1	1	0
Pension liability adjustment during period	35	30	(2)
Total income tax expense (benefit) related to items of other comprehensive income (loss)	(2,169)	(155)	251
Total income taxes	$ (1,766)	$ 842	$ (368)

INCOME TAXES - Income Tax Effec

INCOME TAXES - Income Tax Effects of Temporary Differences that Gave Rise to Deferred Income Tax Assets and Liabilities (Detail) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Deferred income tax liabilities:
Deferred policy acquisition costs	$ 2,803	$ 3,262
Unrealized gains and other basis differences on investments	0	5,313
Foreign currency gain on Aflac Japan	147	0
Premiums receivable	59	66
Policy benefit reserves	3,173	3,578
Total deferred income tax liabilities	6,182	12,219
Deferred income tax assets:
Unfunded retirement benefits	7	7
Other accrued expenses	27	38
Policy and contract claims	722	794
Foreign currency loss on Aflac Japan	0	91
Deferred compensation	65	104
Depreciation	248	230
Anticipatory foreign tax credit	3,069	5,883
Deferred foreign tax credit	822	701
Other basis differences in investments	101	0
Other	147	163
Total deferred income tax assets	5,208	8,011
Net deferred income tax liability	974	4,208
Current income tax liability	322	131
Total income tax liability	$ 1,296	$ 4,339

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance, beginning of year	$ 5	$ 19
Additions for tax positions of prior years	0	1
Reductions for tax positions of prior years	0	(15)
Balance, end of year	$ 5	$ 5

SHAREHOLDERS' EQUITY - Addition

SHAREHOLDERS' EQUITY - Additional Information (Detail) shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) votesPerShare shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 USD ($) shares	Nov. 30, 2022 shares
Stockholders Equity Note [Line Items]
Stock acquired under share repurchase program, shares	39,187	43,327	37,899
Common stock, share repurchase, dollar amount | $	$ 2,401	$ 2,301	$ 1,537
Remaining common stock available for purchase under share repurchase authorizations	116,600
Common stock, voting rights	are generally entitled to one vote per share until they have been held by the same beneficial owner for a continuous period of 48 months, at which time they become entitled to 10 votes per share
Common stock, votes per share | votesPerShare	1
Common stock, votes per share holding period	48 months
Common stock, votes per share after required holding period. | votesPerShare	10
Share Repurchase Program
Stockholders Equity Note [Line Items]
Stock acquired under share repurchase program, shares	39,200	43,300	37,900
Common stock, share repurchase, dollar amount | $	$ 2,400	$ 2,300	$ 1,500
Share Repurchase Authorization 2022
Stockholders Equity Note [Line Items]
Remaining common stock available for purchase under share repurchase authorizations				100,000

SHAREHOLDERS' EQUITY - Reconcil

SHAREHOLDERS' EQUITY - Reconciliation of Number of Shares of Common Stock (Detail) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Common Stock Issued [Roll Forward]
Balance, beginning of period	1,352,739	1,351,018	1,349,309
Exercise of stock options and issuance of restricted shares	1,340	1,721	1,709
Balance, end of period	1,354,079	1,352,739	1,351,018
Treasury Stock [Roll Forward]
Balance, beginning of period	700,607	658,564	622,516
Share repurchase program	39,187	43,327	37,899
Exercise of stock options	(560)	(896)	(638)
Balance, end of period	738,823	700,607	658,564
Shares outstanding, end of period	615,256	652,132	692,454
Treasury Stock
Treasury Stock [Roll Forward]
Other purchases	370	437	542
Shares issued to AFL Stock Plan	(1,009)	(1,216)	(2,021)
Exercise of stock options	(117)	(275)	(121)
Other dispositions	(215)	(230)	(251)

SHAREHOLDERS' EQUITY - Anti-Dil

SHAREHOLDERS' EQUITY - Anti-Dilutive Share-Based Awards Excluded from Calculation of Diluted Earnings Per Share (Detail) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Stockholders' Equity Note [Abstract]
Anti-dilutive share-based awards	118	0	687

SHAREHOLDERS' EQUITY - Weighted

SHAREHOLDERS' EQUITY - Weighted-Average Shares Used in Calculating Earnings Per Share (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Stockholders' Equity Note [Abstract]
Weighted-average outstanding shares used for calculating basic EPS	634,816	673,617	713,702
Dilutive effect of share-based awards	2,839	3,112	2,490
Weighted-average outstanding shares used for calculating diluted EPS	637,655	676,729	716,192

SHAREHOLDERS' EQUITY - Changes

SHAREHOLDERS' EQUITY - Changes in Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning of period	$ 7,393	$ 8,934	$ 6,615
Other comprehensive income loss before reclassifications net of tax	(11,463)	(1,550)	1,322
Amounts reclassified from accumulated other comprehensive income (loss) net of tax	(335)	9	149
Other comprehensive income (loss), net of tax	(11,798)	(1,541)	1,471
Balance, end of period	(4,405)	7,393	8,934
Accounting Standards Update 2019-04 | Cumulative effect, period of adoption, adjustment
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning of period			848
Accounting Standards Update 2019-04 | Cumulative effect, period of adoption, adjusted balance
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning of period			7,463
Unrealized foreign currency translation gains (losses)
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning of period	(2,013)	(1,109)	(1,623)
Other comprehensive income loss before reclassifications net of tax	(1,627)	(904)	514
Amounts reclassified from accumulated other comprehensive income (loss) net of tax	0	0	0
Other comprehensive income (loss), net of tax	(1,627)	(904)	514
Balance, end of period	(3,640)	(2,013)	(1,109)
Unrealized foreign currency translation gains (losses) | Accounting Standards Update 2019-04 | Cumulative effect, period of adoption, adjustment
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning of period			0
Unrealized foreign currency translation gains (losses) | Accounting Standards Update 2019-04 | Cumulative effect, period of adoption, adjusted balance
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning of period			(1,623)
Unrealized gains (losses) on fixed maturity securities
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning of period	9,602	10,361	8,548
Other comprehensive income loss before reclassifications net of tax	(9,946)	(735)	839
Amounts reclassified from accumulated other comprehensive income (loss) net of tax	(358)	(24)	126
Other comprehensive income (loss), net of tax	(10,304)	(759)	965
Balance, end of period	(702)	9,602	10,361
Unrealized gains (losses) on fixed maturity securities | Accounting Standards Update 2019-04 | Cumulative effect, period of adoption, adjustment
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning of period			848
Unrealized gains (losses) on fixed maturity securities | Accounting Standards Update 2019-04 | Cumulative effect, period of adoption, adjusted balance
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning of period			9,396
Unrealized gains (losses) on derivatives
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning of period	(30)	(34)	(33)
Other comprehensive income loss before reclassifications net of tax	(1)	(1)	(1)
Amounts reclassified from accumulated other comprehensive income (loss) net of tax	4	5	0
Other comprehensive income (loss), net of tax	3	4	(1)
Balance, end of period	(27)	(30)	(34)
Unrealized gains (losses) on derivatives | Accounting Standards Update 2019-04 | Cumulative effect, period of adoption, adjustment
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning of period			0
Unrealized gains (losses) on derivatives | Accounting Standards Update 2019-04 | Cumulative effect, period of adoption, adjusted balance
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning of period			(33)
Pension liability adjustment
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning of period	(166)	(284)	(277)
Other comprehensive income loss before reclassifications net of tax	111	90	(30)
Amounts reclassified from accumulated other comprehensive income (loss) net of tax	19	28	23
Other comprehensive income (loss), net of tax	130	118	(7)
Balance, end of period	$ (36)	$ (166)	(284)
Pension liability adjustment | Accounting Standards Update 2019-04 | Cumulative effect, period of adoption, adjustment
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning of period			0
Pension liability adjustment | Accounting Standards Update 2019-04 | Cumulative effect, period of adoption, adjusted balance
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning of period			$ (277)

SHAREHOLDERS' EQUITY - Reclassi

SHAREHOLDERS' EQUITY - Reclassifications Out of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net investment gains (losses)		$ 363	$ 468	$ (270)
Net investment income		3,656	3,818	3,638
Acquisition and operating expenses		(5,745)	(6,208)	(6,192)
Total before tax		4,604	5,322	4,159
Income tax (expense) benefit		(403)	(997)	619
Net of tax		$ 4,201	$ 4,325	$ 4,778
U.S. federal statutory corporate income tax rate		21%	21%	21%
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net of tax		$ 335	$ (9)	$ (149)
Reclassification out of Accumulated Other Comprehensive Income | Unrealized gains (losses) on available-for-sale securities
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net investment gains (losses)		453	31	(159)
Income tax (expense) benefit	[1]	(95)	(7)	33
Net of tax		358	24	(126)
Reclassification out of Accumulated Other Comprehensive Income | Unrealized gains (losses) on derivatives
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net investment gains (losses)		(4)	(5)
Net investment income		(1)	(1)
Total before tax		(5)	(6)
Income tax (expense) benefit	[1]	1	1
Net of tax		(4)	(5)
Reclassification out of Accumulated Other Comprehensive Income | Pension liability adjustment, actuarial gains (losses)
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Acquisition and operating expenses	[2]	(24)	(35)	(32)
Reclassification out of Accumulated Other Comprehensive Income | Pension liability adjustment, prior service (cost) credit
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Acquisition and operating expenses	[2]	0	0	3
Reclassification out of Accumulated Other Comprehensive Income | Pension liability adjustment
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax (expense) benefit	[1]	5	7	6
Net of tax		$ (19)	$ (28)	$ (23)
[1]Based on 21% tax rate[2]These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 14 for additional details).

SHARE-BASED COMPENSATION - Addi

SHARE-BASED COMPENSATION - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	1 Months Ended	12 Months Ended
	Feb. 28, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	[1]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation arrangement by share-based payment award, options, grants in period, weighted average grant date fair value		$ 0	$ 0	$ 6.33
Closing common stock price		$ 71.94
Aggregate intrinsic value of stock options outstanding		$ 63
Options outstanding - weighted-average remaining term (Yrs)		2 years 9 months 18 days
In-the-money stock options exercisable		1,600
Aggregate intrinsic value of stock options exercisable		$ 63
Weighted-average remaining term of stock options exercisable (in years)		2 years 9 months 18 days
Long-Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, maximum number of shares issuable		75,000
Share-based compensation arrangement by share-based payment award, maximum number of shares issuable other than options and stock appreciation rights		38,000
Shares available for future grants under the long-term incentive plan		35,800
Long-term incentive plan awards, term (in years)		10 years
Long-term incentive plan, vesting period		3 years
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock awards, grants in period		1,119	1,496	1,544
Total compensation cost not yet recognized, restricted stock awards		$ 33
Share-based compensation arrangement by share-based payment award, equity instruments other than options, nonvested, number of shares		2,414	2,557	2,580	2,715
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition		1 year 8 months 12 days
Performance Based Vesting Condition | Long-Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Long-term incentive plan, vesting period		3 years
Performance Based Vesting Condition | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Long-term incentive plan, vesting period		3 years
Restricted stock awards, grants in period	390
Percentage of target award opportunities minimum		0%
Percentage of target award opportunities maximum		200%
Total compensation cost not yet recognized, restricted stock awards		$ 14
Share-based compensation arrangement by share-based payment award, equity instruments other than options, nonvested, number of shares		1,200
Performance Based Vesting Condition | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Long-term incentive plan, vesting period		3 years
Restricted stock awards, grants in period		123
Percentage of target award opportunities minimum		0%
Percentage of target award opportunities maximum		200%
[1]This balance has been adjusted to include dividends

SHARE-BASED COMPENSATION - Expe

SHARE-BASED COMPENSATION - Expense Recognized in Connection with Share-Based Awards (Detail) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Earnings before income taxes	$ 4,604	$ 5,322	$ 4,159
Net earnings	$ 4,201	$ 4,325	$ 4,778
Net earnings per share:
Basic (in dollars per share)	$ 6.62	$ 6.42	$ 6.69
Diluted (in dollars per share)	$ 6.59	$ 6.39	$ 6.67
Share Based Compensation Expense
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Earnings from continuing operations	$ 69	$ 65	$ 61
Earnings before income taxes	69	65	61
Net earnings	$ 55	$ 51	$ 48
Net earnings per share:
Basic (in dollars per share)	$ 0.09	$ 0.08	$ 0.07
Diluted (in dollars per share)	$ 0.09	$ 0.08	$ 0.07

SHARE-BASED COMPENSATION - Stoc

SHARE-BASED COMPENSATION - Stock Option Activity (Detail) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Stock Option Shares
Beginning Balance	2,145	3,045	3,706
Granted	0	0	59
Canceled	(8)	(4)	(82)
Exercised	(560)	(896)	(638)
Ending Balance	1,577	2,145	3,045
Weighted-Average Exercise Price Per Share
Beginning Balance	$ 31.02	$ 30.25	$ 29.65
Granted	0	0	35.75
Canceled	32.43	16.93	26.31
Exercised	28.11	28.45	27.82
Ending Balance	$ 32.05	$ 31.02	$ 30.25

SHARE-BASED COMPENSATION - Shar

SHARE-BASED COMPENSATION - Shares Exercisable (Detail) - shares shares in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-Based Payment Arrangement [Abstract]
Shares exercisable, end of year	1,577	2,145	2,986

SHARE-BASED COMPENSATION - Assu

SHARE-BASED COMPENSATION - Assumptions Used in Valuing Options Granted (Detail) - Employee stock option	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Line Items]
Expected term (years)	7 years 9 months 18 days	7 years 10 months 24 days	6 years
Expected volatility	25.80%	25.60%	24.40%
Annual forfeiture rate	4%	3.80%	3.90%
Risk-free interest rate	1.60%	1%	2%
Dividend yield	2.70%	3%	3.30%

SHARE-BASED COMPENSATION - St_2

SHARE-BASED COMPENSATION - Stock Options Outstanding and Exercisable (Detail) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Range of Exercise Prices Per Share - Lower Range	$ 0
Range of Exercise Prices Per Share - Upper Range	$ 44.59
Options Outstanding - Stock Option Shares	1,577	2,145	3,045	3,706
Options outstanding - weighted-average remaining term (Yrs)	2 years 9 months 18 days
Options Outstanding - Weighted-Average Exercise Price Per Share	$ 32.05	$ 31.02	$ 30.25	$ 29.65
Options Exercisable - Stock Option Shares	1,577	2,145	2,986
Options Exercisable - Weighted-Average Exercise Price Per Share	$ 32.05
$0.00 - $24.75
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Range of Exercise Prices Per Share - Lower Range	0
Range of Exercise Prices Per Share - Upper Range	$ 24.75
Options Outstanding - Stock Option Shares	88
Options outstanding - weighted-average remaining term (Yrs)	1 month 6 days
Options Outstanding - Weighted-Average Exercise Price Per Share	$ 24.75
Options Exercisable - Stock Option Shares	88
Options Exercisable - Weighted-Average Exercise Price Per Share	$ 24.75
$24.75 - $28.97
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Range of Exercise Prices Per Share - Lower Range	24.75
Range of Exercise Prices Per Share - Upper Range	$ 28.97
Options Outstanding - Stock Option Shares	298
Options outstanding - weighted-average remaining term (Yrs)	3 years
Options Outstanding - Weighted-Average Exercise Price Per Share	$ 28.94
Options Exercisable - Stock Option Shares	298
Options Exercisable - Weighted-Average Exercise Price Per Share	$ 28.94
$28.97 - $31.21
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Range of Exercise Prices Per Share - Lower Range	28.97
Range of Exercise Prices Per Share - Upper Range	$ 31.21
Options Outstanding - Stock Option Shares	564
Options outstanding - weighted-average remaining term (Yrs)	1 year 9 months 18 days
Options Outstanding - Weighted-Average Exercise Price Per Share	$ 30.70
Options Exercisable - Stock Option Shares	564
Options Exercisable - Weighted-Average Exercise Price Per Share	$ 30.70
$31.21 - $36.21
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Range of Exercise Prices Per Share - Lower Range	31.21
Range of Exercise Prices Per Share - Upper Range	$ 36.21
Options Outstanding - Stock Option Shares	478
Options outstanding - weighted-average remaining term (Yrs)	3 years 8 months 12 days
Options Outstanding - Weighted-Average Exercise Price Per Share	$ 34.25
Options Exercisable - Stock Option Shares	478
Options Exercisable - Weighted-Average Exercise Price Per Share	$ 34.25
$36.21 - $44.59
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Range of Exercise Prices Per Share - Lower Range	36.21
Range of Exercise Prices Per Share - Upper Range	$ 44.59
Options Outstanding - Stock Option Shares	149
Options outstanding - weighted-average remaining term (Yrs)	4 years 9 months 18 days
Options Outstanding - Weighted-Average Exercise Price Per Share	$ 40.57
Options Exercisable - Stock Option Shares	149
Options Exercisable - Weighted-Average Exercise Price Per Share	$ 40.57

SHARE-BASED COMPENSATION - Summ

SHARE-BASED COMPENSATION - Summary of Stock Option Activity (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-Based Payment Arrangement [Abstract]
Total intrinsic value of options exercised	$ 20	$ 21	$ 11
Cash received from options exercised	16	26	18
Tax benefit realized as a result of options exercised and restricted stock releases	$ 18	$ 17	$ 18

SHARE-BASED COMPENSATION - Key

SHARE-BASED COMPENSATION - Key Assumptions Used to Value PBRS (Details) - Performance Based Vesting Condition - Restricted Stock	12 Months Ended
	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility (based on Aflac Inc. and peer group historical daily stock price)	37.10%
Expected life from grant date (years)	2 years 10 months 24 days
Risk-free interest rate (based on U.S. Treasury yields at the date of grant)	1.80%

SHARE-BASED COMPENSATION - Rest

SHARE-BASED COMPENSATION - Restricted Stock Activity (Detail) - Restricted Stock - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Shares
Beginning balance	2,557	2,580	2,715	[1]
Granted	1,119	1,496	1,544
Canceled	(96)	(148)	(119)
Vested	(1,166)	(1,371)	(1,560)
Ending Balance	2,414	2,557	2,580
Weighted-Average Grant-Date Fair Value Per Share
Beginning balance	$ 49.38	$ 48.57	$ 43.74	[1]
Granted	66.72	47.87	45.88
Canceled	54.59	49	49.27
Vested	49.64	45.80	35.23
Ending Balance	$ 56.21	$ 49.38	$ 48.57
[1]This balance has been adjusted to include dividends

STATUTORY ACCOUNTING AND DIVI_3

STATUTORY ACCOUNTING AND DIVIDEND RESTRICTIONS - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Aflac Japan
Statutory Accounting Practices [Line Items]
Capital and surplus, statutory accounting practices of the state or country basis	$ 6,700	$ 9,800
Aflac
Statutory Accounting Practices [Line Items]
Amount available for dividend distribution without prior approval from regulatory agency	1,100
Dividends declared	594
Aflac New York
Statutory Accounting Practices [Line Items]
Dividends declared	$ 83

STATUTORY ACCOUNTING AND DIVI_4

STATUTORY ACCOUNTING AND DIVIDEND RESTRICTIONS - Capital and Surplus Based on Statutory Accounting Practices (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Aflac
Statutory Accounting Practices [Line Items]
Capital and surplus, NAIC basis	$ 3,097	$ 2,627
CAIC
Statutory Accounting Practices [Line Items]
Capital and surplus, NAIC basis	360	244
TOIC
Statutory Accounting Practices [Line Items]
Capital and surplus, NAIC basis	60	57
Aflac New York
Statutory Accounting Practices [Line Items]
Capital and surplus, NAIC basis	$ 339	$ 360

STATUTORY ACCOUNTING AND DIVI_5

STATUTORY ACCOUNTING AND DIVIDEND RESTRICTIONS - Net Income (Loss) Based on Statutory Accounting Practices (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Aflac
Statutory Accounting Practices [Line Items]
Net income (loss), statutory accounting practices	$ 1,134	$ 1,146	$ 872
CAIC
Statutory Accounting Practices [Line Items]
Net income (loss), statutory accounting practices	(69)	(30)	1
TOIC
Statutory Accounting Practices [Line Items]
Net income (loss), statutory accounting practices	(35)	(27)	(24)
Aflac New York
Statutory Accounting Practices [Line Items]
Net income (loss), statutory accounting practices	$ 67	$ 83	$ 75

STATUTORY ACCOUNTING AND DIVI_6

STATUTORY ACCOUNTING AND DIVIDEND RESTRICTIONS - Profit Remittances by Aflac Japan (Detail) $ in Millions, ¥ in Billions	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2022 JPY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 JPY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2020 JPY (¥)
Insurance [Abstract]
Profit remittances	$ 2,412	¥ 324.2	$ 2,138	¥ 236.7	$ 1,215	¥ 129.8

BENEFIT PLANS - Additional Info

BENEFIT PLANS - Additional Information (Detail) - USD ($) shares in Millions, $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2014
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
Net periodic (benefit) cost, excluding service cost		$ 14	$ 25	$ 30
Net periodic (benefit) cost, excluding service cost ext list		Total acquisition and operating expenses	Total acquisition and operating expenses	Total acquisition and operating expenses
Transition obligation		$ 0
Percentage of matching contributions by the Company to employee's contributions to 401(k) plan		100%
Non-elective defined contribution percentage of employee compensation		4%
Matching 401(k) plan contributions included in acquisition and operating expenses		$ 18	$ 20	$ 20
Shares of employer-issued common stock held for plan participants by plan trustee (in millions)		2.2
Severance Charges, Voluntary Separation Program	$ 43
Lower Limit
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Health care plan, retirement age and years of service combined years for eligibility (rule of 80)					80 years
Health care plan, retirement age for eligibility, (in years)					55 years
Health care plan, number of years of service for eligibility					15 years
Upper Limit
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Percentage of matching contributions by the Company to employee's contributions to 401(k) plan		4%
Associate Stock Bonus Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Deferred policy acquisition costs, amount attributable to stock bonus plan		$ 16	15	24
Japan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
AA corporate bonds average duration		20 years
Japan | Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, expected contributions to the plan in the following year		$ 32
Defined benefit plan, plan assets, amount	416	335	415	416
Employer contributions		$ 34	44
U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
AA corporate bonds average duration		17 years
U.S. | Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, plan assets, amount	$ 824	$ 659	885	$ 824
Employer contributions		8	8
U.S. | Pension Plans Defined Benefit Excluding Executive and Director Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer contributions		0
Level 1 | U.S. | Pension Plan | Cash and cash equivalents
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, plan assets, amount		$ 18	$ 2

BENEFIT PLANS - Reconciliation

BENEFIT PLANS - Reconciliation of Funded Status of Basic Employee Defined-Benefit Pension Plans (Detail) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022		Dec. 31, 2021	Dec. 31, 2020
Other Postretirement Benefit Plans, Defined Benefit
Projected benefit obligation:
Benefit obligation, beginning of year		$ 36		$ 42
Service cost		0		0	$ 0
Interest cost		1		1	1
Actuarial (gain) loss		0		(2)
Benefits and expenses paid		(5)		(5)
Effect of foreign exchange rate changes		0		0
Benefit obligation, end of year		32		36	42
Plan assets:
Fair value of plan assets, beginning of year		0		0
Actual return on plan assets		0		0
Employer contributions		5		5
Benefits and expenses paid		(5)		(5)
Effect of foreign exchange rate changes		0		0
Fair value of plan assets, end of year		0		0	0
Funded status of the plans	[1]	(32)		(36)
Amounts recognized in accumulated other comprehensive income:
Net actuarial (gain) loss		8		10
Prior service (credit) cost		0		0
Total included in accumulated other comprehensive income		8		10
Japan | Pension Plan
Projected benefit obligation:
Benefit obligation, beginning of year		432		473
Service cost		19		23	24
Interest cost		5		6	5
Actuarial (gain) loss		(61)		(9)
Benefits and expenses paid		(13)		(15)
Effect of foreign exchange rate changes		(55)		(46)
Benefit obligation, end of year		327		432	473
Plan assets:
Fair value of plan assets, beginning of year		415		416
Actual return on plan assets		(46)		14
Employer contributions		34		44
Benefits and expenses paid		(13)		(15)
Effect of foreign exchange rate changes		(55)		(44)
Fair value of plan assets, end of year		335		415	416
Funded status of the plans	[1]	8		(17)
Amounts recognized in accumulated other comprehensive income:
Net actuarial (gain) loss		35		50
Prior service (credit) cost		0		0
Total included in accumulated other comprehensive income		35		50
Accumulated benefit obligation		215		346
U.S. | Pension Plan
Projected benefit obligation:
Benefit obligation, beginning of year		1,186		1,204
Service cost		26		28	29
Interest cost		34		32	34
Actuarial (gain) loss		(374)		(50)
Benefits and expenses paid		(29)		(28)
Effect of foreign exchange rate changes		0		0
Benefit obligation, end of year		843	[2]	1,186	1,204
Plan assets:
Fair value of plan assets, beginning of year		885		824
Actual return on plan assets		(205)		81
Employer contributions		8		8
Benefits and expenses paid		(29)		(28)
Effect of foreign exchange rate changes		0		0
Fair value of plan assets, end of year		659		885	$ 824
Funded status of the plans	[1]	(184)		(301)
Amounts recognized in accumulated other comprehensive income:
Net actuarial (gain) loss		10		158
Prior service (credit) cost		(2)		(2)
Total included in accumulated other comprehensive income		8		156
Accumulated benefit obligation		$ 741		$ 1,010
[1]Underfunded amounts are recognized in other liabilities in the consolidated balance sheets and overfunded amounts are recognized in other assets in the consolidated balance sheets[2]The net amount of projected benefit obligation and plan assets for the underfunded (including unfunded) U.S. pension plan was $184 and $301 at December 31, 2022 and 2021, respectively, and was classified as liabilities on the statement of financial position.

BENEFIT PLANS - Information for

BENEFIT PLANS - Information for Pension Plans with an Accumulated Benefit Obligation in Excess of Plan Assets (Details) - Pension Plan - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Japan
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	$ 215	$ 346
Fair value of plan assets	335	415
U.S.
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	741	1,010
Fair value of plan assets	$ 659	$ 885

BENEFIT PLANS - Information f_2

BENEFIT PLANS - Information for Pension Plans with a Projected Benefit Obligation in Excess of Plan Assets (Details) - Pension Plan - USD ($) $ in Millions		Dec. 31, 2022	Dec. 31, 2021
Japan
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	[1]	$ 327	$ 432
Fair value of plan assets	[1]	335	415
Funded status of the plans	[2]	8	(17)
U.S.
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	[3]	843	1,186
Fair value of plan assets	[3]	659	885
Funded status of the plans	[2]	$ (184)	$ (301)
[1]The net amount of projected benefit obligation and plan assets for the overfunded Japan pension plan was $8 at December 31, 2022 and was classified as other assets on the statement of financial position. The net amount of projected benefit obligation and plan assets for the underfunded (including unfunded) Japan pension plan was $17 at December 31, 2021 and was classified as liabilities on the statement of financial position.[2]Underfunded amounts are recognized in other liabilities in the consolidated balance sheets and overfunded amounts are recognized in other assets in the consolidated balance sheets[3]The net amount of projected benefit obligation and plan assets for the underfunded (including unfunded) U.S. pension plan was $184 and $301 at December 31, 2022 and 2021, respectively, and was classified as liabilities on the statement of financial position.

BENEFIT PLANS - Weighted-Averag

BENEFIT PLANS - Weighted-Average Actuarial Assumptions (Detail)		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Other Postretirement Benefit Plans, Defined Benefit
Weighted-average actuarial assumptions:
Discount rate - net periodic benefit cost		2.94%	2.68%	3.25%
Discount rate - benefit obligations		5.28%	2.94%	2.68%
Health care cost trend rates	[1]	6.50%	5.80%	6.30%
Defined benefit plan, ultimate health care cost trend rate		3.70%	3.70%	3.70%
Defined benefit plan number of years that rate reaches ultimate trend rate		51 years	52 years	53 years
Japan | Pension Plan
Weighted-average actuarial assumptions:
Discount rate - net periodic benefit cost		0.94%	0.75%	0.75%
Discount rate - benefit obligations		1.95%	0.94%	0.75%
Expected long-term return on plan assets		2%	2%	2%
U.S. | Pension Plan
Weighted-average actuarial assumptions:
Discount rate - net periodic benefit cost		2.94%	2.68%	3.25%
Discount rate - benefit obligations		5.28%	2.94%	2.68%
Expected long-term return on plan assets		5.50%	5.75%	6%
Rate of compensation increase		4%	4%	4%
[1]For the years 2022, 2021 and 2020, the health care cost trend rates are expected to trend down to 3.7% in 51 years, 3.7% in 52 years, and 3.7% in 53 years, respectively.

BENEFIT PLANS - Net Periodic (B

BENEFIT PLANS - Net Periodic (Benefit) Cost Included in Acquisition and Operating Expenses (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Other Postretirement Benefit Plans, Defined Benefit
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	$ 0	$ 0	$ 0
Interest cost	1	1	1
Expected return on plan assets	0	0	0
Amortization of net actuarial loss	2	3	2
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	0	0	0
Net periodic (benefit) cost	3	4	3
Japan | Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	19	23	24
Interest cost	5	6	5
Expected return on plan assets	(8)	(8)	(7)
Amortization of net actuarial loss	1	2	4
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	0	0	(1)
Net periodic (benefit) cost	17	23	25
U.S. | Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	26	28	29
Interest cost	34	32	34
Expected return on plan assets	(42)	(41)	(35)
Amortization of net actuarial loss	21	30	26
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	0	0	(2)
Net periodic (benefit) cost	$ 39	$ 49	$ 52

BENEFIT PLANS - Summary of Amou

BENEFIT PLANS - Summary of Amounts Recognized in Other Comprehensive Loss (Income) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Other Postretirement Benefit Plans, Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss (gain)	$ 0	$ (2)	$ 5
Amortization of net actuarial loss	(2)	(3)	(2)
Amortization of prior service cost	0	0	0
Total	(2)	(5)	3
Japan | Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss (gain)	(14)	(22)	(14)
Amortization of net actuarial loss	(1)	(2)	(4)
Amortization of prior service cost	0	(1)	(1)
Total	(15)	(23)	(17)
U.S. | Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss (gain)	(127)	(90)	45
Amortization of net actuarial loss	(21)	(30)	(26)
Amortization of prior service cost	0	0	(2)
Total	$ (148)	$ (120)	$ 21

BENEFIT PLANS - Expected Benefi

BENEFIT PLANS - Expected Benefit Payments (Detail) $ in Millions	Dec. 31, 2022 USD ($)
Other Postretirement Benefit Plans, Defined Benefit
Schedule of Postemployment Expected Future Benefit Payments [Line Items]
2023	$ 5
2024	5
2025	5
2026	4
2027	4
2028-2032	7
Japan | Pension Plan
Schedule of Postemployment Expected Future Benefit Payments [Line Items]
2023	10
2024	17
2025	15
2026	14
2027	14
2028-2032	79
U.S. | Pension Plan
Schedule of Postemployment Expected Future Benefit Payments [Line Items]
2023	33
2024	34
2025	35
2026	37
2027	46
2028-2032	$ 246

BENEFIT PLANS - Asset Allocatio

BENEFIT PLANS - Asset Allocation Targets (Detail) - Pension Plan	Dec. 31, 2022
Japan
Defined Benefit Plan Disclosure [Line Items]
Asset allocation targets	100%
U.S.
Defined Benefit Plan Disclosure [Line Items]
Asset allocation targets	100%
Domestic equity securities | Japan
Defined Benefit Plan Disclosure [Line Items]
Asset allocation targets	6%
Domestic equity securities | U.S.
Defined Benefit Plan Disclosure [Line Items]
Asset allocation targets	0%
International equity securities | Japan
Defined Benefit Plan Disclosure [Line Items]
Asset allocation targets	17%
International equity securities | U.S.
Defined Benefit Plan Disclosure [Line Items]
Asset allocation targets	0%
Fixed income bond funds | Japan
Defined Benefit Plan Disclosure [Line Items]
Asset allocation targets	69%
Fixed income bond funds | U.S.
Defined Benefit Plan Disclosure [Line Items]
Asset allocation targets	100%
Other Investments | Japan
Defined Benefit Plan Disclosure [Line Items]
Asset allocation targets	8%
Other Investments | U.S.
Defined Benefit Plan Disclosure [Line Items]
Asset allocation targets	0%

BENEFIT PLANS - Fair Value Hier

BENEFIT PLANS - Fair Value Hierarchy Levels of Funded Pension Plans' Assets (Detail) - Pension Plan - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Japan
Defined Benefit Plan Disclosure [Line Items]
Fair value of pension plan assets	$ 335	$ 415	$ 416
U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of pension plan assets	659	885	$ 824
Japanese equity securities | Japan | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of pension plan assets	20	21
International equity securities | Japan | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of pension plan assets	57	86
Japanese bonds | Japan | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of pension plan assets	20	22
International bonds | Japan | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of pension plan assets	210	252
Insurance contracts | Japan | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of pension plan assets	28	34
U.S. large cap equity securities | U.S. | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of pension plan assets	0	297
U.S. mid cap equity securities | U.S. | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of pension plan assets	0	25
International equity funds | U.S. | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of pension plan assets	0	208
Fixed income bond funds | U.S. | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of pension plan assets	641	346
Aflac Incorporated common stock | U.S. | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of pension plan assets	0	7
Cash and cash equivalents | U.S. | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of pension plan assets	$ 18	$ 2

COMMITMENTS AND CONTINGENT LI_2

COMMITMENTS AND CONTINGENT LIABILITIES - Additional Information (Detail) $ in Millions, ¥ in Billions	3 Months Ended	12 Months Ended
	Mar. 31, 2017 USD ($)	Dec. 31, 2022 JPY (¥) agreements	Dec. 31, 2022 USD ($) agreements
Commitments and Contingencies Disclosure [Line Items]
Number of operating service agreements, technology and consulting | agreements		2	2
Number of operating service agreements, information technology and data services | agreements		2	2
Loss contingency accrual, insurance-related assessment, discount rate	4.25%
Loss contingency, discounted amount of insurance-related assessment liability	$ 62
Loss contingency, undiscounted amount of insurance-related assessment liability	94
Loss contingency, insurance related assessment, discounted amount of premium tax offset	48
Loss contingency, insurance-related assessment, undiscounted amount of premium tax offset	74
Loss contingency, loss in period	$ 14
Mainframe and server computer operations and support
Commitments and Contingencies Disclosure [Line Items]
Outsourcing agreements, remaining term		2 years	2 years
Outsourcing agreements, aggregate remaining cost		¥ 19.4	$ 146
Technology and consulting company application maintenance and development services
Commitments and Contingencies Disclosure [Line Items]
Outsourcing agreements, remaining term		2 years	2 years
Outsourcing agreements, aggregate remaining cost		¥ 2.2	$ 17
Management consulting and technology services company application maintenance and development services
Commitments and Contingencies Disclosure [Line Items]
Outsourcing agreements, remaining term		4 years	4 years
Outsourcing agreements, aggregate remaining cost		¥ 12.5	$ 94
Information technology and data services company application maintenance and development services first agreement
Commitments and Contingencies Disclosure [Line Items]
Outsourcing agreements, remaining term		3 years	3 years
Outsourcing agreements, aggregate remaining cost		¥ 6	$ 45
Information technology and data services company application maintenance and development services second agreement
Commitments and Contingencies Disclosure [Line Items]
Outsourcing agreements, remaining term		3 years	3 years
Outsourcing agreements, aggregate remaining cost		¥ 7.6	$ 57
Enterprise software licensing agreement
Commitments and Contingencies Disclosure [Line Items]
Outsourcing agreements, remaining term		1 year	1 year
Outsourcing agreements, aggregate remaining cost		¥ 0.9	$ 7
Information technology and software company agreement
Commitments and Contingencies Disclosure [Line Items]
Outsourcing agreements, remaining term		3 years	3 years
Outsourcing agreements, aggregate remaining cost		¥ 2.7	$ 20

SUBSEQUENT EVENTS - Additional

SUBSEQUENT EVENTS - Additional Information (Details) - ALIJ - Aflac Re Bermuda - Subsequent Event $ in Billions	Jan. 01, 2023 USD ($)
Subsequent Event [Line Items]
Ceded insurance, percentage	28%
Ceded reinsurance, amount of reserves transferred	$ 2.1

Schedule II - Aflac Incorporate

Schedule II - Aflac Incorporated (Parent Only) - Condensed Statement of Earnings (Detail) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Condensed Income Statements, [Line Items]
Net investment income		$ 3,656	$ 3,818	$ 3,638
Net investment gains (losses)		363	468	(270)
Total revenues		19,502	22,106	22,147
Interest expense		226	238	242
Total acquisition and operating expenses		5,745	6,208	6,192
Income tax expense (benefit)		403	997	(619)
Net earnings		4,201	4,325	4,778
Expense on extinguishment of debt			48	15
Parent Company
Condensed Income Statements, [Line Items]
Management and service fees from subsidiaries	[1]	136	130	131
Net investment income		3	(93)	62
Interest from subsidiaries	[1]	2	2	3
Net investment gains (losses)		(228)	206	399
Total revenues		(87)	245	595
Interest expense		215	222	221
Other operating expenses	[2]	275	300	277
Total acquisition and operating expenses		490	522	498
Earnings before income taxes and equity in earnings of subsidiaries		(577)	(277)	97
Income tax expense (benefit)		(208)	(144)	(15)
Earnings before equity in earnings of subsidiaries		(369)	(133)	112
Equity in earnings of subsidiaries	[1]	4,570	4,458	4,666
Net earnings		$ 4,201	4,325	4,778
Expense on extinguishment of debt			$ 48	$ 15
[1]Eliminated in consolidation[2]Includes expense of $48 in 2021 and $15 in 2020 for the early extinguishment of debt

Schedule II - Aflac Incorpora_2

Schedule II - Aflac Incorporated (Parent Only) - Condensed Statements of Comprehensive Income (Loss) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Condensed Financial Statements, Captions [Line Items]
Net earnings	$ 4,201	$ 4,325	$ 4,778
Other comprehensive income (loss) before income taxes:
Unrealized foreign currency translation gains (losses) during period	(1,080)	(889)	510
Unrealized gains (losses) on derivatives during period	4	5	(1)
Pension liability adjustment during period	165	148	(7)
Total other comprehensive income (loss) before income taxes	(13,967)	(1,696)	1,722
Income tax expense (benefit) related to items of other comprehensive income (loss)	(2,169)	(155)	251
Other comprehensive income (loss), net of tax	(11,798)	(1,541)	1,471
Total comprehensive income (loss)	(7,597)	2,784	6,249
Parent Company
Condensed Financial Statements, Captions [Line Items]
Net earnings	4,201	4,325	4,778
Other comprehensive income (loss) before income taxes:
Unrealized foreign currency translation gains (losses) during period	(1,080)	(889)	510
Unrealized gains (losses) on fixed maturity securities during period	(13,056)	(960)	1,220
Unrealized gains (losses) on derivatives during period	4	5	(1)
Pension liability adjustment during period	165	148	(7)
Total other comprehensive income (loss) before income taxes	(13,967)	(1,696)	1,722
Income tax expense (benefit) related to items of other comprehensive income (loss)	(2,169)	(155)	251
Other comprehensive income (loss), net of tax	(11,798)	(1,541)	1,471
Total comprehensive income (loss)	$ (7,597)	$ 2,784	$ 6,249

Schedule II - Aflac Incorpora_3

Schedule II - Aflac Incorporated (Parent Only) - Condensed Balance Sheet (Detail 1) - USD ($) $ in Millions		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Investments and cash:
Available for sale, fixed maturity securities		$ 75,741	$ 98,696
Other investments		4,070	3,842
Cash and cash equivalents		3,943	5,051
Total investments and cash		117,397	142,978
Other assets		3,105	3,092
Assets		131,017	157,542
Liabilities:
Notes payable		7,295	7,839
Other Liabilities		4,847	4,760
Total liabilities		108,652	124,289
Shareholders' equity:
Common stock of $.10 par value. In thousands: authorized 1,900,000 shares in 2022 and 2021; issued 1,354,079 shares in 2022 and 1,352,739 shares in 2021		135	135
Additional paid-in capital		2,641	2,529
Retained earnings		44,568	41,381
Accumulated other comprehensive income (loss):
Unrealized foreign currency translation gains (losses)		(3,640)	(2,013)
Unrealized gains (losses) on fixed maturity securities		(702)	9,602
Unrealized gains (losses) on derivatives		(27)	(30)
Pension liability adjustment		(36)	(166)
Treasury stock, at average cost		(20,574)	(18,185)
Total shareholders' equity		22,365	33,253	$ 33,559	$ 28,959
Total liabilities and shareholders' equity		131,017	157,542
Parent Company
Investments and cash:
Available for sale, fixed maturity securities		1,744	1,828
Investments in subsidiaries	[1]	25,197	35,905
Other investments		1,461	1,413
Cash and cash equivalents		1,143	2,097	$ 2,126	$ 2,508
Total investments and cash		29,545	41,243
Due from subsidiaries	[1]	267	248
Other assets		964	640
Assets		30,776	42,131
Liabilities:
Employee benefit plans		291	336
Notes payable		7,069	7,579
Other Liabilities		1,051	963
Total liabilities		8,411	8,878
Shareholders' equity:
Common stock of $.10 par value. In thousands: authorized 1,900,000 shares in 2022 and 2021; issued 1,354,079 shares in 2022 and 1,352,739 shares in 2021		135	135
Additional paid-in capital		2,641	2,529
Retained earnings		44,568	41,381
Accumulated other comprehensive income (loss):
Unrealized foreign currency translation gains (losses)		(3,640)	(2,013)
Unrealized gains (losses) on fixed maturity securities		(702)	9,602
Unrealized gains (losses) on derivatives		(27)	(30)
Pension liability adjustment		(36)	(166)
Treasury stock, at average cost		(20,574)	(18,185)
Total shareholders' equity		22,365	33,253
Total liabilities and shareholders' equity		$ 30,776	$ 42,131
[1]Eliminated in consolidation

Schedule II - Aflac Incorpora_4

Schedule II - Aflac Incorporated (Parent Only) - Condensed Balance Sheet (Detail 2) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Condensed Financial Statements, Captions [Line Items]
Available for sale, fixed maturity securities, amortized cost	$ 75,469	$ 85,369
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	1,900,000	1,900,000
Common stock, shares issued (in shares)	1,354,079	1,352,739	1,351,018	1,349,309
Parent Company
Condensed Financial Statements, Captions [Line Items]
Available for sale, fixed maturity securities, amortized cost	$ 1,649	$ 1,608
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	1,900,000	1,900,000
Common stock, shares issued (in shares)	1,354,079	1,352,739

Schedule II - Aflac Incorpora_5

Schedule II - Aflac Incorporated (Parent Only) - Condensed Statements of Cash Flows (Detail) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net earnings		$ 4,201	$ 4,325	$ 4,778
Adjustments to reconcile net earnings to net cash provided from operating activities:
Other, net		(162)	(82)	176
Net cash provided (used) by operating activities		3,879	5,051	5,958
Cash flows from investing activities:
Fixed maturity securities purchased		(3,514)	(5,813)	(4,772)
Other investments sold (purchased)		(227)	(1,066)	(860)
Settlement of derivatives		(61)	199	18
Other, net		112	41	(265)
Net cash provided (used) by investing activities		(1,540)	(2,378)	(4,619)
Cash flows from financing activities:
Purchases of treasury stock		(2,401)	(2,301)	(1,537)
Proceeds from borrowings		1,277	1,153	1,545
Principal payments under debt obligations		(1,416)	(700)	(350)
Dividends paid to shareholders		(979)	(855)	(769)
Treasury stock reissued		17	26	34
Proceeds from exercise of stock options		16	26	18
Other, net		34	(26)	(27)
Net cash provided (used) by financing activities		(3,551)	(2,739)	(1,115)
Net change in cash and cash equivalents		(1,108)	(90)	245
Cash and cash equivalents, beginning of period		5,051
Cash and cash equivalents, end of period		3,943	5,051
Parent Company
Cash flows from operating activities:
Net earnings		4,201	4,325	4,778
Adjustments to reconcile net earnings to net cash provided from operating activities:
Equity in earnings of subsidiaries	[1]	(4,570)	(4,458)	(4,666)
Cash dividends received from subsidiaries		2,705	2,791	2,060
Other, net		18	408	(331)
Net cash provided (used) by operating activities		2,354	3,066	1,841
Cash flows from investing activities:
Fixed maturity securities sold		392	483	438
Fixed maturity securities purchased		(438)	(489)	(484)
Other investments sold (purchased)		(206)	(421)	(711)
Settlement of derivatives		718	135	4
Additional capitalization of subsidiaries	[1]	(294)	(161)	(291)
Other, net		1	1	2
Net cash provided (used) by investing activities		173	(452)	(1,042)
Cash flows from financing activities:
Purchases of treasury stock		(2,401)	(2,301)	(1,537)
Proceeds from borrowings		1,277	1,153	1,545
Principal payments under debt obligations		(1,416)	(700)	(350)
Dividends paid to shareholders		(979)	(855)	(769)
Treasury stock reissued		17	26	34
Proceeds from exercise of stock options		12	17	12
Net change in amount due to/from subsidiary	[1]	16	43	(89)
Other, net		(7)	(26)	(27)
Net cash provided (used) by financing activities		(3,481)	(2,643)	(1,181)
Net change in cash and cash equivalents		(954)	(29)	(382)
Cash and cash equivalents, beginning of period		2,097	2,126	2,508
Cash and cash equivalents, end of period		$ 1,143	$ 2,097	$ 2,126
[1]Eliminated in consolidation

Schedule II - Aflac Incorpora_6

Schedule II - Aflac Incorporated (Parent Only) - Summary of Notes Payable (Detail 1) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Condensed Financial Statements, Captions [Line Items]
Notes payable	$ 7,295	$ 7,839
Parent Company
Condensed Financial Statements, Captions [Line Items]
Notes payable	7,069	7,579
Parent Company | 3.625% senior notes due November 2024
Condensed Financial Statements, Captions [Line Items]
Notes payable	0	748
Parent Company | 3.25% senior notes due March 2025
Condensed Financial Statements, Captions [Line Items]
Notes payable	0	448
Parent Company | 1.125% senior notes due March 2026
Condensed Financial Statements, Captions [Line Items]
Notes payable	397	397
Parent Company | 2.875% senior notes due October 2026
Condensed Financial Statements, Captions [Line Items]
Notes payable	298	298
Parent Company | 3.60% senior notes due April 2030
Condensed Financial Statements, Captions [Line Items]
Notes payable	992	991
Parent Company | 6.90% senior notes due December 2039
Condensed Financial Statements, Captions [Line Items]
Notes payable	221	221
Parent Company | 6.45% senior notes due August 2040
Condensed Financial Statements, Captions [Line Items]
Notes payable	254	255
Parent Company | 4.00% senior noted due October 2046
Condensed Financial Statements, Captions [Line Items]
Notes payable	394	394
Parent Company | 4.750% senior notes due January 2049
Condensed Financial Statements, Captions [Line Items]
Notes payable	541	541
Parent Company | .300% senior notes due September 2025
Condensed Financial Statements, Captions [Line Items]
Notes payable	93	107
Parent Company | .932% senior notes due January 2027
Condensed Financial Statements, Captions [Line Items]
Notes payable	450	520
Parent Company | .500% senior notes due December 2029
Condensed Financial Statements, Captions [Line Items]
Notes payable	95	109
Parent Company | .550% senior notes due March 2030
Condensed Financial Statements, Captions [Line Items]
Notes payable	99	115
Parent Company | 1.159% senior notes due October 2030
Condensed Financial Statements, Captions [Line Items]
Notes payable	220	254
Parent Company | .633% senior notes due April 2031
Condensed Financial Statements, Captions [Line Items]
Notes payable	225	259
Parent Company | .843% senior notes due December 2031
Condensed Financial Statements, Captions [Line Items]
Notes payable	70	81
Parent Company | .750% senior notes due March 2032
Condensed Financial Statements, Captions [Line Items]
Notes payable	155	179
Parent Company | .844% senior notes due April 2033
Condensed Financial Statements, Captions [Line Items]
Notes payable	90	104
Parent Company | 1.488% senior notes due October 2033
Condensed Financial Statements, Captions [Line Items]
Notes payable	114	131
Parent Company | .934% senior notes due December 2034
Condensed Financial Statements, Captions [Line Items]
Notes payable	73	85
Parent Company | .830% senior notes due March 2035
Condensed Financial Statements, Captions [Line Items]
Notes payable	79	91
Parent Company | 1.039% senior notes due April 2036
Condensed Financial Statements, Captions [Line Items]
Notes payable	75	86
Parent Company | 1.750% senior notes due October 2038
Condensed Financial Statements, Captions [Line Items]
Notes payable	66	77
Parent Company | 1.122% senior notes due December 2039
Condensed Financial Statements, Captions [Line Items]
Notes payable	47	54
Parent Company | 1.264% senior notes due April 2041
Condensed Financial Statements, Captions [Line Items]
Notes payable	75	86
Parent Company | 2.108% subordinated notes due October 2047
Condensed Financial Statements, Captions [Line Items]
Notes payable	448	517
Parent Company | 1.560% senior notes due April 2051
Condensed Financial Statements, Captions [Line Items]
Notes payable	149	172
Parent Company | 1.075% senior notes due September 2029
Condensed Financial Statements, Captions [Line Items]
Notes payable	250	0
Parent Company | 1.320% senior notes due December 2032
Condensed Financial Statements, Captions [Line Items]
Notes payable	158	0
Parent Company | 1.594% senior notes due September 2037
Condensed Financial Statements, Captions [Line Items]
Notes payable	49	0
Parent Company | 2.144% senior notes due September 2052
Condensed Financial Statements, Captions [Line Items]
Notes payable	90	0
Parent Company | Yen-denominated loan variable interest rate due August 2027
Condensed Financial Statements, Captions [Line Items]
Notes payable	88	0
Parent Company | Yen-denominated loan variable interest rate due August 2029
Condensed Financial Statements, Captions [Line Items]
Notes payable	190	43
Parent Company | Yen-denominated loan variable interest rate due August 2032
Condensed Financial Statements, Captions [Line Items]
Notes payable	$ 524	$ 216

Schedule II - Aflac Incorpora_7

Schedule II - Aflac Incorporated (Parent Only) - Summary of Notes Payable (Detail 2) ¥ in Millions, $ in Millions	Dec. 31, 2022 JPY (¥)	Oct. 31, 2022	Sep. 30, 2022	Dec. 31, 2021 JPY (¥)	Apr. 30, 2021 JPY (¥)	Mar. 31, 2021 USD ($)	Apr. 30, 2020 USD ($)	Mar. 31, 2020 JPY (¥)	Dec. 31, 2019 JPY (¥)	Dec. 31, 2018	Oct. 31, 2018 JPY (¥)	Oct. 31, 2018 USD ($)	Oct. 31, 2017 JPY (¥)	Mar. 31, 2017 USD ($)	Jan. 31, 2017 JPY (¥)	Dec. 31, 2016	Sep. 30, 2016 USD ($)	Nov. 30, 2014 USD ($)	Aug. 31, 2010 USD ($)	Dec. 31, 2009 USD ($)
3.625% senior notes due November 2024
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	3.625%		3.625%	3.625%														3.625%
Debt instrument, principal amount | $																		$ 750
3.25% senior notes due March 2025
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	3.25%	3.25%		3.25%										3.25%
Debt instrument, principal amount | $														$ 450
1.125% senior notes due March 2026
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	1.125%			1.125%		1.125%
Debt instrument, principal amount | $						$ 400
2.875% senior notes due October 2026
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	2.875%			2.875%													2.875%
Debt instrument, principal amount | $																	$ 300
3.60% senior notes due April 2030
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	3.60%			3.60%			3.60%
Debt instrument, principal amount | $							$ 1,000
6.90% senior notes due December 2039
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	6.90%			6.90%												6.90%
Debt instrument, principal amount | $																				$ 400
6.45% senior notes due August 2040
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	6.45%			6.45%						6.45%
Debt instrument, principal amount | $																			$ 450
4.00% senior noted due October 2046
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	4%			4%													4%
Debt instrument, principal amount | $																	$ 400
4.750% senior notes due January 2049
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	4.75%			4.75%							4.75%	4.75%
Debt instrument, principal amount | $												$ 550
.300% senior notes due September 2025
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	0.30%			0.30%				0.30%
Debt instrument, principal amount	¥ 12,400			¥ 12,400				¥ 12,400
.932% senior notes due January 2027
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	0.932%			0.932%											0.932%
Debt instrument, principal amount	¥ 60,000			¥ 60,000											¥ 60,000
.500% senior notes due December 2029
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	0.50%			0.50%					0.50%
Debt instrument, principal amount	¥ 12,600			¥ 12,600					¥ 12,600
.550% senior notes due March 2030
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	0.55%			0.55%				0.55%
Debt instrument, principal amount	¥ 13,300			¥ 13,300				¥ 13,300
1.159% senior notes due October 2030
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	1.159%			1.159%							1.159%	1.159%
Debt instrument, principal amount	¥ 29,300			¥ 29,300							¥ 29,300
.633% senior notes due April 2031
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	0.633%			0.633%	0.633%
Debt instrument, principal amount	¥ 30,000			¥ 30,000	¥ 30,000
.843% senior notes due December 2031
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	0.843%			0.843%					0.843%
Debt instrument, principal amount	¥ 9,300			¥ 9,300					¥ 9,300
.750% senior notes due March 2032
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	0.75%			0.75%				0.75%
Debt instrument, principal amount	¥ 20,700			¥ 20,700				¥ 20,700
.844% senior notes due April 2033
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	0.844%			0.844%	0.844%
Debt instrument, principal amount	¥ 12,000			¥ 12,000	¥ 12,000
1.488% senior notes due October 2033
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	1.488%			1.488%							1.488%	1.488%
Debt instrument, principal amount	¥ 15,200			¥ 15,200							¥ 15,200
.934% senior notes due December 2034
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	0.934%			0.934%					0.934%
Debt instrument, principal amount	¥ 9,800			¥ 9,800					¥ 9,800
.830% senior notes due March 2035
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	0.83%			0.83%				0.83%
Debt instrument, principal amount	¥ 10,600			¥ 10,600				¥ 10,600
1.039% senior notes due April 2036
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	1.039%			1.039%	1.039%
Debt instrument, principal amount	¥ 10,000			¥ 10,000	¥ 10,000
1.750% senior notes due October 2038
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	1.75%			1.75%							1.75%	1.75%
Debt instrument, principal amount	¥ 8,900			¥ 8,900							¥ 8,900
1.122% senior notes due December 2039
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	1.122%			1.122%					1.122%
Debt instrument, principal amount	¥ 6,300			¥ 6,300					¥ 6,300
1.264% senior notes due April 2041
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	1.264%			1.264%	1.264%
Debt instrument, principal amount	¥ 10,000			¥ 10,000	¥ 10,000
2.108% subordinated notes due October 2047
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	2.108%			2.108%									2.108%
Debt instrument, principal amount	¥ 60,000			¥ 60,000									¥ 60,000
1.560% senior notes due April 2051
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	1.56%			1.56%	1.56%
Debt instrument, principal amount	¥ 20,000			¥ 20,000	¥ 20,000
Parent Company | 3.625% senior notes due November 2024
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	3.625%		3.625%	3.625%
Parent Company | 3.25% senior notes due March 2025
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	3.25%	3.25%		3.25%
Parent Company | 1.125% senior notes due March 2026
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	1.125%			1.125%
Parent Company | 2.875% senior notes due October 2026
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	2.875%			2.875%
Parent Company | 3.60% senior notes due April 2030
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	3.60%			3.60%
Parent Company | 6.90% senior notes due December 2039
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	6.90%			6.90%
Parent Company | 6.45% senior notes due August 2040
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	6.45%			6.45%
Parent Company | 4.00% senior noted due October 2046
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	4%			4%
Parent Company | 4.750% senior notes due January 2049
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	4.75%			4.75%
Parent Company | .300% senior notes due September 2025
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	0.30%			0.30%
Debt instrument, principal amount	¥ 12,400			¥ 12,400
Parent Company | .932% senior notes due January 2027
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	0.932%			0.932%
Debt instrument, principal amount	¥ 60,000			¥ 60,000
Parent Company | .500% senior notes due December 2029
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	0.50%			0.50%
Debt instrument, principal amount	¥ 12,600			¥ 12,600
Parent Company | .550% senior notes due March 2030
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	0.55%			0.55%
Debt instrument, principal amount	¥ 13,300			¥ 13,300
Parent Company | 1.159% senior notes due October 2030
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	1.159%			1.159%
Debt instrument, principal amount	¥ 29,300			¥ 29,300
Parent Company | .633% senior notes due April 2031
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	0.633%			0.633%
Debt instrument, principal amount	¥ 30,000			¥ 30,000
Parent Company | .843% senior notes due December 2031
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	0.843%			0.843%
Debt instrument, principal amount	¥ 9,300			¥ 9,300
Parent Company | .750% senior notes due March 2032
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	0.75%			0.75%
Debt instrument, principal amount	¥ 20,700			¥ 20,700
Parent Company | .844% senior notes due April 2033
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	0.844%			0.844%
Debt instrument, principal amount	¥ 12,000			¥ 12,000
Parent Company | 1.488% senior notes due October 2033
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	1.488%			1.488%
Debt instrument, principal amount	¥ 15,200			¥ 15,200
Parent Company | .934% senior notes due December 2034
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	0.934%			0.934%
Debt instrument, principal amount	¥ 9,800			¥ 9,800
Parent Company | .830% senior notes due March 2035
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	0.83%			0.83%
Debt instrument, principal amount	¥ 10,600			¥ 10,600
Parent Company | 1.039% senior notes due April 2036
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	1.039%			1.039%
Debt instrument, principal amount	¥ 10,000			¥ 10,000
Parent Company | 1.750% senior notes due October 2038
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	1.75%			1.75%
Debt instrument, principal amount	¥ 8,900			¥ 8,900
Parent Company | 1.122% senior notes due December 2039
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	1.122%			1.122%
Debt instrument, principal amount	¥ 6,300			¥ 6,300
Parent Company | 1.264% senior notes due April 2041
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	1.264%			1.264%
Debt instrument, principal amount	¥ 10,000			¥ 10,000
Parent Company | 2.108% subordinated notes due October 2047
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	2.108%			2.108%
Debt instrument, principal amount	¥ 60,000			¥ 60,000
Parent Company | 1.560% senior notes due April 2051
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	1.56%			1.56%
Debt instrument, principal amount	¥ 20,000			¥ 20,000

Schedule II - Aflac Incorpora_8

Schedule II - Aflac Incorporated (Parent Only) - Additional Information (Detail) $ in Millions, ¥ in Billions	1 Months Ended
	Sep. 30, 2022 JPY (¥) series	Aug. 31, 2022 JPY (¥)	Dec. 31, 2022 JPY (¥)	Oct. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2021 JPY (¥)	Apr. 30, 2021 JPY (¥)	Mar. 31, 2020 JPY (¥)	Dec. 31, 2019 JPY (¥)	Oct. 31, 2018 JPY (¥)	Mar. 31, 2017 USD ($)	Sep. 30, 2016 USD ($)	Nov. 30, 2014 USD ($)
Condensed Financial Statements, Captions [Line Items]
Number of senior notes issued | series	4
Senior notes
Condensed Financial Statements, Captions [Line Items]
Debt instrument, principal amount	¥ 73						¥ 82	¥ 57	¥ 38	¥ 53.4		$ 700
1.039% senior notes due April 2036
Condensed Financial Statements, Captions [Line Items]
Debt instrument, principal amount			¥ 10			¥ 10	¥ 10
Debt instrument, interest rate			1.039%			1.039%	1.039%
1.075% senior notes due September 2029
Condensed Financial Statements, Captions [Line Items]
Debt instrument, principal amount	¥ 33.4		¥ 33.4
Debt instrument, interest rate	1.075%		1.075%		1.075%
1.320% senior notes due December 2032
Condensed Financial Statements, Captions [Line Items]
Debt instrument, principal amount	¥ 21.1		¥ 21.1
Debt instrument, interest rate	1.32%		1.32%		1.32%
1.594% senior notes due September 2037
Condensed Financial Statements, Captions [Line Items]
Debt instrument, principal amount	¥ 6.5		¥ 6.5
Debt instrument, interest rate	1.594%		1.594%		1.594%
2.144% senior notes due September 2052
Condensed Financial Statements, Captions [Line Items]
Debt instrument, principal amount	¥ 12		¥ 12
Debt instrument, interest rate	2.144%		2.144%		2.144%
Yen-denominated loans
Condensed Financial Statements, Captions [Line Items]
Debt instrument, principal amount		¥ 107
Yen-denominated loan variable interest rate due August 2027
Condensed Financial Statements, Captions [Line Items]
Debt instrument, principal amount		¥ 11.7	¥ 11.7
Debt instrument, interest rate			0.33%
Yen-denominated loan variable interest rate due August 2027 | Lower Limit | Tokyo Interbank Offered Rate (TIBOR)
Condensed Financial Statements, Captions [Line Items]
Debt instrument, basis spread on variable rate		0.225%
Yen-denominated loan variable interest rate due August 2027 | Upper Limit | Tokyo Interbank Offered Rate (TIBOR)
Condensed Financial Statements, Captions [Line Items]
Debt instrument, basis spread on variable rate		0.625%
Yen-denominated loan variable interest rate due August 2029
Condensed Financial Statements, Captions [Line Items]
Debt instrument, principal amount		¥ 25.3	¥ 25.3			¥ 5
Debt instrument, interest rate			0.43%			0.41%
Yen-denominated loan variable interest rate due August 2029 | Lower Limit | Tokyo Interbank Offered Rate (TIBOR)
Condensed Financial Statements, Captions [Line Items]
Debt instrument, basis spread on variable rate		0.325%
Yen-denominated loan variable interest rate due August 2029 | Upper Limit | Tokyo Interbank Offered Rate (TIBOR)
Condensed Financial Statements, Captions [Line Items]
Debt instrument, basis spread on variable rate		0.725%
Yen-denominated loan variable interest rate due August 2032
Condensed Financial Statements, Captions [Line Items]
Debt instrument, principal amount		¥ 70	¥ 70			¥ 25
Debt instrument, interest rate			0.58%			0.56%
Yen-denominated loan variable interest rate due August 2032 | Lower Limit | Tokyo Interbank Offered Rate (TIBOR)
Condensed Financial Statements, Captions [Line Items]
Debt instrument, basis spread on variable rate		0.475%
Yen-denominated loan variable interest rate due August 2032 | Upper Limit | Tokyo Interbank Offered Rate (TIBOR)
Condensed Financial Statements, Captions [Line Items]
Debt instrument, basis spread on variable rate		1.025%
3.25% senior notes due March 2025
Condensed Financial Statements, Captions [Line Items]
Debt instrument, principal amount | $											$ 450
Debt instrument, interest rate			3.25%	3.25%		3.25%					3.25%
Debt Instrument, Repurchased Face Amount | $				$ 450
3.625% senior notes due November 2024
Condensed Financial Statements, Captions [Line Items]
Debt instrument, principal amount | $													$ 750
Debt instrument, interest rate	3.625%		3.625%		3.625%	3.625%							3.625%
Debt Instrument, Repurchased Face Amount | $					$ 750
Parent Company
Condensed Financial Statements, Captions [Line Items]
Number of senior notes issued | series	4
Parent Company | Senior notes
Condensed Financial Statements, Captions [Line Items]
Debt instrument, principal amount	¥ 73
Parent Company | 1.039% senior notes due April 2036
Condensed Financial Statements, Captions [Line Items]
Debt instrument, principal amount			¥ 10			¥ 10
Debt instrument, interest rate			1.039%			1.039%
Parent Company | 1.075% senior notes due September 2029
Condensed Financial Statements, Captions [Line Items]
Debt instrument, principal amount	¥ 33.4		¥ 33.4
Debt instrument, interest rate	1.075%		1.075%		1.075%
Parent Company | 1.320% senior notes due December 2032
Condensed Financial Statements, Captions [Line Items]
Debt instrument, principal amount	¥ 21.1		¥ 21.1
Debt instrument, interest rate	1.32%		1.32%		1.32%
Parent Company | 1.594% senior notes due September 2037
Condensed Financial Statements, Captions [Line Items]
Debt instrument, principal amount	¥ 6.5		¥ 6.5
Debt instrument, interest rate	1.594%		1.594%		1.594%
Parent Company | 2.144% senior notes due September 2052
Condensed Financial Statements, Captions [Line Items]
Debt instrument, principal amount	¥ 12		¥ 12
Debt instrument, interest rate	2.144%		2.144%		2.144%
Parent Company | Yen-denominated loans
Condensed Financial Statements, Captions [Line Items]
Debt instrument, principal amount		¥ 107
Parent Company | Yen-denominated loan variable interest rate due August 2027
Condensed Financial Statements, Captions [Line Items]
Debt instrument, principal amount		¥ 11.7	¥ 11.7
Debt instrument, interest rate			0.33%
Parent Company | Yen-denominated loan variable interest rate due August 2027 | Lower Limit | Tokyo Interbank Offered Rate (TIBOR)
Condensed Financial Statements, Captions [Line Items]
Debt instrument, basis spread on variable rate		0.225%
Parent Company | Yen-denominated loan variable interest rate due August 2027 | Upper Limit | Tokyo Interbank Offered Rate (TIBOR)
Condensed Financial Statements, Captions [Line Items]
Debt instrument, basis spread on variable rate		0.625%
Parent Company | Yen-denominated loan variable interest rate due August 2029
Condensed Financial Statements, Captions [Line Items]
Debt instrument, principal amount		¥ 25.3	¥ 25.3			¥ 5
Debt instrument, interest rate			0.43%			0.41%
Parent Company | Yen-denominated loan variable interest rate due August 2029 | Lower Limit | Tokyo Interbank Offered Rate (TIBOR)
Condensed Financial Statements, Captions [Line Items]
Debt instrument, basis spread on variable rate		0.325%
Parent Company | Yen-denominated loan variable interest rate due August 2029 | Upper Limit | Tokyo Interbank Offered Rate (TIBOR)
Condensed Financial Statements, Captions [Line Items]
Debt instrument, basis spread on variable rate		0.725%
Parent Company | Yen-denominated loan variable interest rate due August 2032
Condensed Financial Statements, Captions [Line Items]
Debt instrument, principal amount		¥ 70	¥ 70			¥ 25
Debt instrument, interest rate			0.58%			0.56%
Parent Company | Yen-denominated loan variable interest rate due August 2032 | Lower Limit | Tokyo Interbank Offered Rate (TIBOR)
Condensed Financial Statements, Captions [Line Items]
Debt instrument, basis spread on variable rate		0.475%
Parent Company | Yen-denominated loan variable interest rate due August 2032 | Upper Limit | Tokyo Interbank Offered Rate (TIBOR)
Condensed Financial Statements, Captions [Line Items]
Debt instrument, basis spread on variable rate		1.025%
Parent Company | 3.25% senior notes due March 2025
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate			3.25%	3.25%		3.25%
Debt Instrument, Repurchased Face Amount | $				$ 450
Parent Company | 3.625% senior notes due November 2024
Condensed Financial Statements, Captions [Line Items]
Debt instrument, interest rate	3.625%		3.625%		3.625%	3.625%
Debt Instrument, Repurchased Face Amount | $					$ 750

Schedule II - Aflac Incorpora_9

Schedule II - Aflac Incorporated - Aggregate Contractual Maturities of Notes Payable (Detail) $ in Millions	Dec. 31, 2022 USD ($)
Condensed Financial Statements, Captions [Line Items]
2023	$ 0
2024	0
2025	93
2026	700
2027	540
Thereafter	6,021
Total	7,354
Parent Company
Condensed Financial Statements, Captions [Line Items]
2023	0
2024	0
2025	93
2026	700
2027	540
Thereafter	5,795
Total	$ 7,128

Schedule II - Aflac Incorpor_10

Schedule II - Aflac Incorporated (Parent Only) - Supplemental Disclosure of Cash Flow Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Shareholder dividend reinvestment
Condensed Cash Flow Statements, Captions [Line Items]
Treasury stock issued for shareholder dividend reinvestment	$ 37	$ 32	$ 29
Parent Company
Condensed Cash Flow Statements, Captions [Line Items]
Interest paid	211	213	209
Parent Company | Shareholder dividend reinvestment
Condensed Cash Flow Statements, Captions [Line Items]
Treasury stock issued for shareholder dividend reinvestment	$ 37	$ 32	$ 29

SCHEDULE III SUPPLEMENTARY IN_2

SCHEDULE III SUPPLEMENTARY INSURANCE INFORMATION - (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred policy acquisition costs	$ 8,593	$ 9,525
Future policy benefits & unpaid policy claims	85,310	95,424
Unearned premiums	1,825	2,576
Other policyholders' funds	6,123	7,072
Net premium income	15,263	17,647	$ 18,622
Net investment income	3,656	3,818	3,638
Benefits and claims, net	9,153	10,576	11,796
Amortization of deferred policy acquisition costs	1,152	1,170	1,214
Other operating expenses	4,593	5,038	4,978
Premiums written	14,943	17,137	18,075
Intercompany eliminations
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred policy acquisition costs	0	0
Future policy benefits & unpaid policy claims	(667)	(733)
Unearned premiums	0	0
Other policyholders' funds	0	0
Aflac Japan
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred policy acquisition costs	5,355	6,233	6,991
Future policy benefits & unpaid policy claims	73,760	84,079
Unearned premiums	1,716	2,469
Other policyholders' funds	6,119	7,064
Net premium income	9,548	11,853	12,670
Net investment income	2,867	3,139	2,856
Benefits and claims, net	6,565	7,963	8,851
Amortization of deferred policy acquisition costs	547	653	644
Other operating expenses	2,083	2,555	2,613
Premiums written	9,474	11,600	12,312
Aflac U.S.
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred policy acquisition costs	3,238	3,292	3,450
Future policy benefits & unpaid policy claims	11,912	11,798
Unearned premiums	113	111
Other policyholders' funds	4	8
Net premium income	5,570	5,614	5,758
Net investment income	759	752	702
Benefits and claims, net	2,442	2,447	2,765
Amortization of deferred policy acquisition costs	605	517	570
Other operating expenses	2,115	2,048	1,963
Premiums written	5,469	5,537	5,763
Corporate and other
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred policy acquisition costs	0	0
Future policy benefits & unpaid policy claims	305	280
Unearned premiums	(4)	(4)
Other policyholders' funds	0	0
Net premium income	145	180	194
Net investment income	30	(73)	80
Benefits and claims, net	146	166	180
Amortization of deferred policy acquisition costs	0	0	0
Other operating expenses	395	435	402
Premiums written	$ 0	$ 0	$ 0

SCHEDULE IV REINSURANCE Schedul

SCHEDULE IV REINSURANCE Schedule IV - Reinsurance (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Gross Amount, Life Insurance in Force	$ 132,880	$ 134,577	$ 148,801
Ceded to Other Companies, Life Insurance in Force	11,755	7,199	7,016
Assumed from Other Companies, Life Insurance in Force	34,599	22,568	20,662
Net Amount, Life Insurance in Force	$ 155,724	$ 149,946	$ 162,447
Percentage of Amount Assumed to Net, Life Insurance in Force	22%	15%	13%
Gross amount	$ 15,387	$ 17,857	$ 18,955
Ceded to Other Companies	419	504	553
Assumed from Other companies	295	294	220
Net Amount	$ 15,263	$ 17,647	$ 18,622
Percentage of Amount Assumed to Net	2%	2%	1%
Health insurance
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Gross amount	$ 13,058	$ 14,913	$ 15,682
Ceded to Other Companies	384	475	526
Assumed from Other companies	235	253	213
Net Amount	$ 12,909	$ 14,691	$ 15,369
Percentage of Amount Assumed to Net	2%	2%	1%
Life insurance
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Gross amount	$ 2,329	$ 2,944	$ 3,273
Ceded to Other Companies	35	29	27
Assumed from Other companies	60	41	7
Net Amount	$ 2,354	$ 2,956	$ 3,253
Percentage of Amount Assumed to Net	3%	1%	0%