Aflac (AFL) 10-Q 2 Nov 23 2023 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2023	Oct. 26, 2023
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
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 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 Common Stock, Shares Outstanding		584,379,889
Amendment Flag	false
Entity Central Index Key	0000004977
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2023
NEW YORK STOCK EXCHANGE, INC.
Title of 12(b) Security	Common Stock, $.10 par value per share
Trading Symbol	AFL
Security Exchange Name	NYSE

Consolidated Statements of Earn

Consolidated Statements of Earnings - USD ($) shares in Thousands, $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenues:
Net earned premiums, principally supplemental health insurance	[1]	$ 3,476	$ 3,535	$ 10,737	$ 11,379
Net investment income		1,004	920	2,946	2,760
Net investment gains (losses)		423	199	1,101	885
Other income (loss)		47	50	139	168
Total revenues		4,950	4,704	14,923	15,192
Benefits and expenses:
Benefits and claims, excluding reserve remeasurement		2,065	2,169	6,420	6,985
Reserve remeasurement (gains) losses		(205)	(93)	(312)	(152)
Total benefits and claims, net		1,860	2,076	6,108	6,833
Acquisition and operating expenses:
Amortization of deferred policy acquisition costs		201	194	608	598
Insurance commissions		250	267	797	846
Insurance and other expenses		785	779	2,290	2,413
Interest expense		49	59	148	171
Total acquisition and operating expenses		1,285	1,299	3,843	4,028
Total benefits and expenses		3,145	3,375	9,951	10,861
Earnings before income taxes		1,805	1,329	4,972	4,331
Income taxes		236	(452)	581	109
Net earnings		$ 1,569	$ 1,781	$ 4,391	$ 4,222
Net earnings per share:
Basic (in dollars per share)		$ 2.65	$ 2.83	$ 7.31	$ 6.60
Diluted (in dollars per share)		$ 2.64	$ 2.82	$ 7.28	$ 6.57
Weighted-average outstanding common shares used in computing earnings per share (In thousands):
Basic (in shares)		591,246	629,350	600,991	639,862
Diluted (in shares)		593,596	631,946	603,419	642,597
Cash dividends per share		$ 0.42	$ 0.40	$ 1.26	$ 1.20
[1]Includes a gain (loss) of $22 and $(41) for the three-month periods and $22 and $(42) for the nine-month periods ended September 30, 2023 and 2022, respectively, related to remeasurement of the deferred profit liability for limited-payment contracts.

Consolidated Statements of Ea_2

Consolidated Statements of Earnings (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Remeasurement gain (loss), deferred profit liability for limited-payment contracts	$ 22	$ (41)	$ 22	$ (42)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net earnings	$ 1,569	$ 1,781	$ 4,391	$ 4,222
Other comprehensive income (loss) before income taxes:
Unrealized foreign currency translation gains (losses) during period	(194)	(438)	(674)	(1,641)
Unrealized gains (losses) on fixed maturity securities:
Unrealized holding gains (losses) on fixed maturity securities during period	(2,978)	(2,220)	489	(10,473)
Reclassification adjustment for (gains) losses on fixed maturity securities included in net earnings	(41)	(58)	(125)	(252)
Unrealized gains (losses) on derivatives during period	1	1	4	2
Effect of changes in discount rate assumptions during period	5,309	3,073	1,563	14,883
Pension liability adjustment during period	1	2	68	10
Total other comprehensive income (loss) before income taxes	2,098	360	1,325	2,529
Income tax expense (benefit) related to items of other comprehensive income (loss)	520	885	656	1,623
Other comprehensive income (loss), net of income taxes	1,578	(525)	669	906
Total comprehensive income (loss)	$ 3,147	$ 1,256	$ 5,060	$ 5,128

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions		Sep. 30, 2023		Dec. 31, 2022
Investments and cash:
Fixed maturity securities, available-for-sale		$ 69,801		$ 75,741
Fixed maturity securities, held-to-maturity		16,899	[1]	19,056
Equity securities		990		1,091
Commercial mortgage and other loans		12,873		13,496
Other investments		5,241		4,070
Cash and cash equivalents		5,502		3,943
Total investments and cash		111,306		117,397
Receivables		712		647
Accrued investment income		687		745
Deferred policy acquisition costs		8,771		9,239
Property and equipment, at cost less accumulated depreciation		445		530
Other		3,190		3,180
Total assets		125,111		131,738
Policy liabilities:
Future policy benefits		78,448		88,241
Unpaid policy claims		249		201
Unearned premiums		1,447		1,825
Other policyholders’ funds		5,884		6,643
Total policy liabilities		86,028		96,910
Income taxes		869		698
Payables for return of cash collateral on loaned securities		4,607		1,809
Notes payable and lease obligations		6,961		7,442
Other		3,977		4,739
Total liabilities		102,442		111,598
Commitments and contingent liabilities (Note 13)
Shareholders’ equity:
Common stock of $.10 par value. In thousands: authorized 1,900,000 shares in 2023 and 2022; issued 1,355,312 shares in 2023 and 1,354,079 shares in 2022		136		135
Additional paid-in capital		2,729		2,641
Retained earnings		48,257		44,367
Accumulated other comprehensive income (loss):
Unrealized foreign currency translation gains (losses)		(4,484)		(3,564)
Unrealized gains (losses) on fixed maturity securities		(403)		(702)
Unrealized gains (losses) on derivatives		(24)		(27)
Effect of changes in discount rate assumptions		(866)		(2,100)
Pension liability adjustment		17		(36)
Treasury stock, at average cost		(22,693)		(20,574)
Total shareholders’ equity		22,669		20,140
Total liabilities and shareholders’ equity		125,111		131,738
Consolidated Entity Excluding Variable Interest Entities (VIE)
Investments and cash:
Fixed maturity securities, available-for-sale		66,369		71,936
Variable Interest Entity, Consolidated
Investments and cash:
Fixed maturity securities, available-for-sale		3,432		3,805
Commercial mortgage and other loans	[2]	10,425		10,832
Other investments	[2],[3]	2,278		1,909
Policy liabilities:
Total liabilities	[2]	$ 442		$ 390
[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		Sep. 30, 2023	Dec. 31, 2022
Fixed maturity securities, available-for-sale, allowance for credit losses		$ 0	$ 0
Fixed maturity securities, available-for-sale, amortized cost		69,161	75,469
Fixed maturity securities, held-to-maturity, allowance for credit losses		5	7
Fixed maturity securities, held-to-maturity, fair value		18,460	21,210
Commercial mortgage and other loans, allowance for credit losses		260	192
Commercial mortgage and other loans		12,873	13,496
Other investments		$ 5,241	$ 4,070
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)		1,355,312	1,354,079
Consolidated Entity Excluding Variable Interest Entities (VIE)
Fixed maturity securities, available-for-sale, allowance for credit losses		$ 0	$ 0
Fixed maturity securities, available-for-sale, amortized cost		66,430	72,246
Variable Interest Entity, Consolidated
Fixed maturity securities, available-for-sale, amortized cost		2,731	3,223
Commercial mortgage and other loans	[1]	10,425	10,832
Other investments	[1],[2]	$ 2,278	$ 1,909
[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	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock
Balance, beginning of period at Dec. 31, 2021		$ 17,031	$ 135	$ 2,529	$ 40,963	$ (8,411)	$ (18,185)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings		1,047	0	0	1,047	0	0
Unrealized foreign currency translation gains (losses) during period, net of income taxes		(453)	0	0	0	(453)	0
Unrealized gains (losses) on fixed maturity securities during period, net of income taxes and reclassification adjustments		(3,815)	0	0	0	(3,815)	0
Unrealized gains (losses) on derivatives during period, net of income taxes		1	0	0	0	1	0
Effect of changes in discount rate assumptions during period, net of income taxes		4,224	0	0	0	4,224	0
Pension liability adjustment during period, net of income taxes		3	0	0	0	3	0
Dividends to shareholders	[1]	0	0	0	0	0	0
Exercise of stock options		6	0	6	0	0	0
Share-based compensation		13	0	13	0	0	0
Purchases of treasury stock		(523)	0	0	0	0	(523)
Treasury stock reissued		26	0	12	0	0	14
Balance, end of period at Mar. 31, 2022		17,560	135	2,560	42,010	(8,451)	(18,694)
Balance, beginning of period at Dec. 31, 2021		17,031	135	2,529	40,963	(8,411)	(18,185)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings		4,222
Effect of changes in discount rate assumptions during period, net of income taxes		11,800
Balance, end of period at Sep. 30, 2022		19,946	135	2,615	44,680	(7,505)	(19,979)
Balance, beginning of period at Dec. 31, 2021		17,031	135	2,529	40,963	(8,411)	(18,185)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Effect of changes in discount rate assumptions during period, net of income taxes		13,700
Balance, end of period at Dec. 31, 2022		20,140	135	2,641	44,367	(6,429)	(20,574)
Balance, beginning of period at Mar. 31, 2022		17,560	135	2,560	42,010	(8,451)	(18,694)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings		1,394	0	0	1,394	0	0
Unrealized foreign currency translation gains (losses) during period, net of income taxes		(780)	0	0	0	(780)	0
Unrealized gains (losses) on fixed maturity securities during period, net of income taxes and reclassification adjustments		(2,857)	0	0	0	(2,857)	0
Unrealized gains (losses) on derivatives during period, net of income taxes		0	0	0	0	0	0
Effect of changes in discount rate assumptions during period, net of income taxes		5,105	0	0	0	5,105	0
Pension liability adjustment during period, net of income taxes		3	0	0	0	3	0
Dividends to shareholders	[1]	(254)	0	0	(254)	0	0
Exercise of stock options		1	0	1	0	0	0
Share-based compensation		19	0	19	0	0	0
Purchases of treasury stock		(650)	0	0	0	0	(650)
Treasury stock reissued		17	0	9	0	0	8
Balance, end of period at Jun. 30, 2022		19,558	135	2,589	43,150	(6,980)	(19,336)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings		1,781	0	0	1,781	0	0
Unrealized foreign currency translation gains (losses) during period, net of income taxes		(1,156)	0	0	0	(1,156)	0
Unrealized gains (losses) on fixed maturity securities during period, net of income taxes and reclassification adjustments		(1,799)	0	0	0	(1,799)	0
Unrealized gains (losses) on derivatives during period, net of income taxes		0	0	0	0	0	0
Effect of changes in discount rate assumptions during period, net of income taxes		2,428	0	0	0	2,428	0
Pension liability adjustment during period, net of income taxes		2	0	0	0	2	0
Dividends to shareholders	[1]	(251)	0	0	(251)	0	0
Exercise of stock options		3	0	3	0	0	0
Share-based compensation		14	0	14	0	0	0
Purchases of treasury stock		(651)	0	0	0	0	(651)
Treasury stock reissued		17	0	9	0	0	8
Balance, end of period at Sep. 30, 2022		19,946	135	2,615	44,680	(7,505)	(19,979)
Balance, beginning of period at Dec. 31, 2022		20,140	135	2,641	44,367	(6,429)	(20,574)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings		1,188	0	0	1,188	0	0
Unrealized foreign currency translation gains (losses) during period, net of income taxes		(54)	0	0	0	(54)	0
Unrealized gains (losses) on fixed maturity securities during period, net of income taxes and reclassification adjustments		1,991	0	0	0	1,991	0
Unrealized gains (losses) on derivatives during period, net of income taxes		1	0	0	0	1	0
Effect of changes in discount rate assumptions during period, net of income taxes		(2,794)	0	0	0	(2,794)	0
Pension liability adjustment during period, net of income taxes		7	0	0	0	7	0
Dividends to shareholders	[1]	0	0	0	0	0	0
Exercise of stock options		3	0	3	0	0	0
Share-based compensation		14	0	14	0	0	0
Purchases of treasury stock		(732)	0	0	0	0	(732)
Treasury stock reissued		20	0	7	0	0	13
Balance, end of period at Mar. 31, 2023		19,784	135	2,665	45,555	(7,278)	(21,293)
Balance, beginning of period at Dec. 31, 2022		20,140	135	2,641	44,367	(6,429)	(20,574)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings		4,391
Effect of changes in discount rate assumptions during period, net of income taxes		1,200
Balance, end of period at Sep. 30, 2023		22,669	136	2,729	48,257	(5,760)	(22,693)
Balance, beginning of period at Mar. 31, 2023		19,784	135	2,665	45,555	(7,278)	(21,293)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings		1,634	0	0	1,634	0	0
Unrealized foreign currency translation gains (losses) during period, net of income taxes		(631)	0	0	0	(631)	0
Unrealized gains (losses) on fixed maturity securities during period, net of income taxes and reclassification adjustments		689	0	0	0	689	0
Unrealized gains (losses) on derivatives during period, net of income taxes		1	0	0	0	1	0
Effect of changes in discount rate assumptions during period, net of income taxes		(165)	0	0	0	(165)	0
Pension liability adjustment during period, net of income taxes		46	0	0	0	46	0
Dividends to shareholders	[1]	(252)	0	0	(252)	0	0
Exercise of stock options		5	0	5	0	0	0
Share-based compensation		18	1	17	0	0	0
Purchases of treasury stock		(708)	0	0	0	0	(708)
Treasury stock reissued		18	0	10	0	0	8
Balance, end of period at Jun. 30, 2023		20,439	136	2,697	46,937	(7,338)	(21,993)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings		1,569	0	0	1,569	0	0
Unrealized foreign currency translation gains (losses) during period, net of income taxes		(235)	0	0	0	(235)	0
Unrealized gains (losses) on fixed maturity securities during period, net of income taxes and reclassification adjustments		(2,381)	0	0	0	(2,381)	0
Unrealized gains (losses) on derivatives during period, net of income taxes		1	0	0	0	1	0
Effect of changes in discount rate assumptions during period, net of income taxes		4,193	0	0	0	4,193	0
Pension liability adjustment during period, net of income taxes		0	0	0	0	0	0
Dividends to shareholders	[1]	(249)	0	0	(249)	0	0
Exercise of stock options		2	0	2	0	0	0
Share-based compensation		20	0	20	0	0	0
Purchases of treasury stock		(707)	0	0	0	0	(707)
Treasury stock reissued		17	0	10	0	0	7
Balance, end of period at Sep. 30, 2023		$ 22,669	$ 136	$ 2,729	$ 48,257	$ (5,760)	$ (22,693)
[1]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	3 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022
Retained Earnings
Dividends to shareholders (in dollars per share)	$ 0.42	$ 0.42	$ 0	$ 0.40	$ 0.40	$ 0

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended				9 Months Ended		12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Cash flows from operating activities:
Net earnings	$ 1,569	$ 1,188	$ 1,781	$ 1,047	$ 4,391	$ 4,222
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities
Change in receivables and advance premiums					42	10
Capitalization of deferred policy acquisition costs					(804)	(770)
Amortization of deferred policy acquisition costs	201		194		608	598	$ 792
Increase in policy liabilities					(99)	717
Change in income tax liabilities					(289)	(491)
Net investment (gains) losses	(423)		(199)		(1,101)	(885)
Other, net					(391)	(555)
Net cash provided (used) by operating activities					2,357	2,846
Proceeds from investments sold or matured:
Available-for-sale fixed maturity securities					2,112	2,997
Equity securities					353	518
Held-to-maturity fixed maturity securities					2	2
Commercial mortgage and other loans					1,276	1,849
Costs of investments acquired:
Available-for-sale fixed maturity securities					(2,359)	(2,961)
Equity securities					(299)	(414)
Commercial mortgage and other loans					(744)	(3,552)
Other investments, net					(902)	(54)
Settlement of derivatives, net					56	(159)
Cash received (pledged or returned) as collateral, net					2,894	769
Other, net					(160)	158
Net cash provided (used) by investing activities					2,229	(847)
Cash flows from financing activities:
Purchases of treasury stock					(2,100)	(1,801)
Proceeds from borrowings					0	1,277
Principal payments under debt obligations					0	(966)
Dividends paid to shareholders					(730)	(740)
Change in investment-type contracts, net					(114)	(61)
Treasury stock reissued					9	15
Other, net					(1)	20
Net cash provided (used) by financing activities					(2,936)	(2,256)
Effect of exchange rate changes on cash and cash equivalents					(91)	(84)
Net change in cash and cash equivalents					1,559	(341)
Cash and cash equivalents, beginning of period		$ 3,943		$ 5,051	3,943	5,051	5,051
Cash and cash equivalents, end of period	$ 5,502		$ 4,710		5,502	4,710	$ 3,943
Supplemental disclosures of cash flow information:
Income taxes paid					870	600
Interest paid					132	153
Noncash interest					16	17
Noncash real estate acquired in satisfaction of debt					90	0
Noncash financing activities:
Lease obligations					50	72
Associate stock bonus
Treasury stock issued for:
Treasury stock issued					13	11
Shareholder dividend reinvestment
Treasury stock issued for:
Treasury stock issued					28	28
Share-based compensation grants
Treasury stock issued for:
Treasury stock issued					$ 5	$ 6

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2023
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) 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. 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. Aflac Japan's revenues, including net gains and losses on its investment portfolio, accounted for 63% and 72% of the Company's total revenues in the nine-month periods ended September 30, 2023 and 2022, respectively. The percentage of the Company's total assets attributable to Aflac Japan was 79% at September 30, 2023, compared with 80% at December 31, 2022. In 2022, the Company established Aflac Re Bermuda Ltd. (Aflac Re), a Bermuda domiciled insurer that reinsures certain policies issued by ALIJ. Aflac Re 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. Financial results from Aflac Re are included in Corporate and other. 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 income taxes. These accounting estimates and actuarial determinations are sensitive to market conditions, investment yields, interest rates, 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 the consolidated financial statements. 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 unaudited consolidated financial statements include the accounts of the Parent Company, its subsidiaries and those entities required to be consolidated under applicable accounting standards. All material intercompany accounts and transactions have been eliminated. In the opinion of management, the accompanying unaudited consolidated financial statements of the Company contain all adjustments, consisting of normal recurring accruals, which are necessary to fairly present the consolidated balance sheets as of September 30, 2023 and December 31, 2022, the consolidated statements of earnings and comprehensive income (loss) for the three- and nine-month periods ended September 30, 2023 and 2022, the consolidated statements of shareholders' equity for the three-month periods ended March 31, 2023 and 2022, June 30, 2023 and 2022, and September 30, 2023 and 2022, and the consolidated statements of cash flows for the nine-month periods ended September 30, 2023 and 2022. Results of operations for interim periods are not necessarily indicative of results for the entire year. As a result, these financial statements should be read in conjunction with the financial statements and notes thereto included in the Company's annual report on Form 10-K for the year ended December 31, 2022 (2022 Annual Report). Significant Accounting Policies The Company revised the following accounting policies as a result of the adoption of amended accounting guidance effective January 1, 2023 and certain reclassifications. Refer to the Recently Adopted Accounting Pronouncements section below for details of the adoption of Accounting Standards Update (ASU) 2018-12 Financial Services - Insurance: Targeted Improvements to the Accounting for Long-Duration Contracts. In conjunction with the adoption of ASU 2018-12, the Company changed 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 statements of earnings. This reclassification had no impact on net earnings. The change in presentation has been made for all comparative periods presented. All other categories of significant accounting policies remain unchanged from the 2022 Annual Report. 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, supplemental dental and 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. This association is accomplished by means of annual increases or decreases to the liability for future policy benefits (LFPB) 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 contract term (i.e., the period during which benefits are provided). Premiums for these products are recognized as earned premiums over the premium-paying periods when due from policyholders. Any gross premium in excess of the net premium is deferred and recorded as a deferred profit liability, which is subsequently amortized in net earned premiums such that profits are recognized in a constant relationship with insurance in force. Benefits are recorded as an expense when they are incurred. An LFPB is recorded when premiums are recognized using the net premium method. Policyholders also have an option to pay discounted advanced premiums for certain of the Company's products. Advanced premiums are deferred and recognized when due from policyholders over the otherwise required contractual premium payment period. Benefit expense is bifurcated between benefits and claims and reserve remeasurement (gains) losses. The net premium ratio (NPR) is used to measure benefit expense and is calculated as the ratio of the present value of actual and future expected benefits and expenses to the present value of actual and future expected gross premiums. A revised NPR is calculated as of the beginning of each reporting period using updated future cash flow expectations. Reserve remeasurement (gains) losses represent the difference between two reserve measures both calculated as of the beginning of the current reporting period using the same locked-in discount rates. One reserve measure uses the NPR as of the end of the prior reporting period, and the second uses the revised NPR. Benefits and claims represent the difference in the liability balance calculated as of the beginning of the current reporting period and the end of the current reporting period both using the revised NPR and the locked-in discount rates. The locked-in interest accretion rate utilized for accretion of interest expense on insurance reserves is the original discount rate used at contract issue date. Advertising expense is reported as incurred in insurance and other expenses in the consolidated statements of earnings. Deferred Policy Acquisition Costs : Certain direct and incremental costs of acquiring insurance contracts are deferred and amortized on a grouped-contract basis over the expected term of the related contracts, using a constant-level basis. For life and health products issued in Japan, the constant-level basis used is units in force, which is a proxy for face amount, and insurance in force, respectively. For life and health products issued in the U.S., the constant-level basis used is face amount and number of policies in force, respectively. Amortization is computed using the same contract groupings (also referred to as cohorts) and mortality and termination assumptions that are used in computing the LFPB, and these assumptions are reviewed and updated at least annually. The effects of changes in assumptions are recognized prospectively over the remaining contract term as a revision of the future amortization pattern, while current period amortization is calculated based on the actual experience during the quarter. Deferred costs include the excess of current-year commissions over ultimate renewal-year commissions and certain incremental direct policy issue, underwriting and sales expenses 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 cohort, 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, the policy is treated as lapsed for amortization purposes, 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. Policy Liabilities : For long-duration insurance contracts, the Company calculates an integrated reserve that represents all payments under the contract including future expected claims and unpaid policy claims and related expenses. The liability for future policy benefits is measured using the net level premium method. Long-duration insurance contracts issued by the Company are grouped into annual calendar-year cohorts based on the contract issue date, reportable segment, legal entity and product type. Limited-pay contracts are grouped into separate cohorts from other traditional products in the same manner and are further separated based on their premium payment structures. The LFPB is determined as the present value of expected future policy benefits to be paid to or on the behalf of policyholders and certain related expenses less the present value of expected future net premiums receivable under the Company’s insurance contracts, where expected future net premiums receivable are future gross premiums receivable under the contract multiplied by the NPR. Future policy benefits are calculated using assumptions and estimates including mortality, morbidity, termination (also referred to as lapses), expense and discount rates. The assumptions and estimates that the Company uses depend on its judgment regarding the likelihood of future events and are inherently uncertain. Cash flow assumptions (mortality, morbidity, and termination) are established at policy inception and are evaluated each quarter to determine if an update is needed. To facilitate a more detailed review of cash flow assumptions, experience studies are performed annually during the third quarter. Changes in cash flow assumptions are the result of applying the updated best estimate assumptions as of the beginning of the reporting period and are recognized in reserve remeasurement (gains) losses in the consolidated statements of earnings. Expense assumptions are established at policy inception and determined for each issue-year cohort as a percentage of paid claims. These expense assumptions are locked-in and remain unchanged over the term of the insurance policy. Actual experience is reflected in the calculation of future policy benefits each quarter, and changes in the liability due to actual experience are recognized in reserve remeasurement (gains) losses in the consolidated statements of earnings. Discount rates used to calculate net premiums are locked in at policy inception and represent the basis to recognize interest expense in the consolidated statements of earnings. Discount rates used to measure the carrying value of the LFPB in the consolidated balance sheets are updated each reporting period, and the difference between the liability balances calculated using the locked-in discount rates and the updated discount rates is recognized in accumulated other comprehensive income (loss) (AOCI). The Company has designed its discount rate methodology for 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 LFPBs, reflective of the characteristics of the insurance liabilities, such as currency and tenor. 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. The locked-in discount rate used for the computation of interest accretion on LFPBs is determined separately 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 in 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 is determined by solving for a rate that produces an equivalent net premium ratio to the forward curve and will remain unchanged after the calendar year of issue. 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. The other policyholders’ funds liability consists primarily of the fixed annuity line of business in Aflac Japan which has fixed benefits and premiums. 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. The policy reserves are evaluated based on the new policy features, and changes are recognized at the date of contract change/modification. For internal replacements that are substantially unchanged, no changes to the reserves are recognized. For modifications that are not integrated with the base policy, new coverage is recognized as a separately issued contract within the current cohort. 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. New Accounting Pronouncements Recently Adopted Accounting Pronouncements 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 significantly changed how insurers account for long-duration contracts. The Company adopted the standard on January 1, 2023 using a modified retrospective transition method which resulted in applying the amended guidance as of the beginning of the earliest period presented 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 calculated the ratio of the present value of expected future benefits and expenses less existing carrying values to the present value of expected future gross premiums (Transition Date NPR) using updated assumptions and the discount rate immediately before the Transition Date. The Company capped the Transition Date NPR at 100% for any cohorts with a Transition Date NPR greater than 100%. The Company calculated the LFPB using the Transition Date NPR (capped at 100% if required) and 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 Transition Date NPR capped at 100%, the Company recorded as an adjustment (decrease) to opening retained earnings 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. For all cohorts on the Transition Date, the Company recorded in AOCI net of tax, 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). Upon adoption, the Company adjusted opening equity for the Transition Date impacts to AOCI and retained earnings and adjusted prior periods presented (years 2021 and 2022) following the updated standard. Based upon the modified retrospective transition method, the Transition Date impact from adoption resulted in a decrease in AOCI of approximately $18.6 billion and a decrease in retained earnings (RE) of approximately $0.3 billion. See Note 6 and Note 7 for expanded disclosures for DAC and future policy benefits, respectively, required as a result of the amended guidance. Transition Impact to Shareholder's Equity The following table presents the cumulative transition impact as of January 1, 2021 to the Company’s Shareholder’s Equity as a result of the adoption of ASU 2018-12, using the modified retrospective transition method. (In millions - Unaudited) Common Stock Additional Paid-in Capital Retained Earnings Accumulated Other Comprehensive Income (Loss) Treasury Stock Total Shareholders' Balance at December 31, 2020 $ 135 $ 2,410 $ 37,984 $ 8,934 $ (15,904) $ 33,559 Cumulative effect of change in accounting 0 0 (324) (18,570) 0 (18,894) Balance at January 1, 2021 $ 135 $ 2,410 $ 37,660 $ (9,636) $ (15,904) $ 14,665 The following table presents the transition impacts as of January 1, 2021 to the Company's AOCI and RE as a result of the adoption of ASU 2018-12 by reporting segment and disaggregated by product type, using the modified retrospective transition method. (In millions - Unaudited) Impact to Retained Impact to Transition impacts: Aflac Japan Cancer $ 0 $ 14,529 Medical and other health 1 2,382 Life insurance 0 3,314 Other (1) 398 433 Aflac U.S. Accident 0 92 Disability 0 149 Critical care 4 2,258 Hospital indemnity 0 223 Dental/vision 0 65 Life insurance 5 149 Other 2 218 Reinsurance 0 (305) Transition impact before income taxes 410 23,507 Less: income taxes 86 4,937 Total transition impact, net of income taxes $ 324 $ 18,570 (1) Impact to retained earnings is driven primarily by capping the Transition Date NPR on Care products. Transition Impact on the Liability for Future Policy Benefits The Company adopted ASU 2018-12 using the modified retrospective transition method. The tables below present the disaggregated transition impacts to the Company’s LFPB as a result of adoption, split between the changes in the present value of expected future net premiums and the present value of expected future policy benefits as of the Transition Date and the LFPB rollforward for the year ended December 31, 2021. The locked-in discount rates on the policies held at the Transition Date reflect the locked-in rates in existence immediately before the Transition Date. See Note 7 for additional information. Under the modified retrospective transition method, the NPR for future policy benefits existing as of the Transition Date considers the carryover basis of those liabilities, which equals the future policy benefits and unpaid policy claims balance as of December 31, 2020. If the revised Transition Date NPR for a cohort is greater than 100%, the Company capped the Transition Date NPR at 100% and increased the LFPB with an offsetting decrease to opening retained earnings. The LFPB recorded in the consolidated balance sheets includes the deferred profit liability for limited-payment contracts. This deferred profit liability is not included in the Transition Date and LFPB rollforwards. For products with limited-payment features, to the extent the transition date adjustment related to updating cash flow assumptions is favorable, the Company increased the deferred profit liability. The following table presents the transition impacts to the present value of expected future net premiums, gross of internal and external reinsurance, by reporting segment and disaggregated by product type due to the cumulative effect of the change in accounting principle as a result of the adoption of ASU 2018-12 using the modified retrospective transition method. Transition Impact at January 1, 2021 Aflac Japan Aflac U.S. (In millions) Cancer Medical and Other Health Life Insurance Other Accident Disability Critical Care Hospital Indemnity Dental/Vision Life Insurance Other Present value of expected future net premiums: Balance at December 31, 2020 $ 25,601 $ 21,270 $ 12,440 $ 2,080 $ 3,350 $ 1,921 $ 5,898 $ 1,376 $ 281 $ 710 $ 154 Impact to retained earnings from capping Transition Date NPR 0 (1) 0 (398) 0 0 (4) 0 0 (5) (2) Impact of deferred profit liability 15 7 36 26 0 0 0 0 0 0 0 Beginning balance at original discount rate 25,616 21,276 12,476 1,708 3,350 1,921 5,894 1,376 281 705 152 Effect of change in discount rate assumptions 3,982 2,598 908 148 479 197 1,048 154 41 78 27 Balance at January 1, 2021 $ 29,598 $ 23,874 $ 13,384 $ 1,856 $ 3,829 $ 2,118 $ 6,942 $ 1,530 $ 322 $ 783 $ 179 The following table presents the changes in the present value of expected future net premiums, gross of internal and external reinsurance, by reporting segment and disaggregated by product type for the year ended December 31, 2021. December 31, 2021 Aflac Japan Aflac U.S. (In millions) Cancer Medical and Other Health Life Insurance Other Accident Disability Critical Care Hospital Indemnity Dental/Vision Life Insurance Other Present value of expected future net premiums: Balance at January 1, 2021 $ 29,598 $ 23,874 $ 13,384 $ 1,856 $ 3,829 $ 2,118 $ 6,942 $ 1,530 $ 322 $ 783 $ 179 Beginning balance at original discount rate (1) 25,616 21,276 12,476 1,708 3,350 1,921 5,894 1,376 281 705 152 Effect of changes in cash flow assumptions 32 88 40 1 (163) (129) (302) 0 (26) 31 0 Effect of actual variances from expected (134) (449) (135) (11) (109) (38) (290) (32) (14) 34 (3) Adjusted beginning of period balance 25,514 20,915 12,381 1,698 3,078 1,754 5,302 1,344 241 770 149 Issuances 1,116 1,132 284 55 365 345 552 263 39 112 0 Interest accrual 586 439 202 27 116 61 210 45 10 25 6 Net premiums collected (2) (2,206) (1,692) (1,609) (151) (552) (393) (665) (268) (47) (124) (19) Foreign currency translation (2,539) (2,111) (1,194) (167) 0 0 0 0 0 0 0 Other (1) (2) 0 (1) (8) (7) (8) (4) (2) (3) (1) Ending balance at original discount rate 22,470 18,681 10,064 1,461 2,999 1,760 5,391 1,380 241 780 135 Effect of changes in discount rate assumptions 3,423 2,493 783 125 284 102 632 87 23 54 18 Balance at December 31, 2021 $ 25,893 $ 21,174 $ 10,847 $ 1,586 $ 3,283 $ 1,862 $ 6,023 $ 1,467 $ 264 $ 834 $ 153 (1) Includes the adjustment for capping the Transition Date NPR. (2) Net premiums collected represent the portion of gross premiums collected from policyholders that is used to fund expected future benefit payments. The following table presents the transition impacts to the present value of expected future policy benefits by reporting segment and disaggregated by product type due to the cumulative effect of the change in accounting principle as a result of the adoption of ASU 2018-12 using the modified retrospective transition method. Transition Impact at January 1, 2021 Aflac Japan Aflac U.S. (In millions) Cancer Medical and Other Health Life Insurance Other Accident Disability Critical Care Hospital Indemnity Dental/Vision Life Insurance Other Present value of expected future policy benefits: Balance at December 31, 2020 $ 64,056 $ 34,638 $ 43,729 $ 7,620 $ 3,818 $ 2,919 $ 13,427 $ 2,258 $ 599 $ 1,562 $ 661 Effect of change in discount rate assumptions 18,511 4,980 4,222 581 571 346 3,306 377 106 227 245 Balance at January 1, 2021 $ 82,567 $ 39,618 $ 47,951 $ 8,201 $ 4,389 $ 3,265 $ 16,733 $ 2,635 $ 705 $ 1,789 $ 906 The following table presents the changes in the present value of expected future policy benefits by reporting segment and disaggregated by product type for the year ended December 31, 2021. December 31, 2021 Aflac Japan Aflac U.S. (In millions) Cancer Medical and Other Health Life Insurance Other Accident Disability Critical Care Hospital Indemnity Dental/Vision Life Insurance Other Present value of expected future policy benefits: Balance at January 1, 2021 $ 82,567 $ 39,618 $ 47,951 $ 8,201 $ 4,389 $ 3,265 $ 16,733 $ 2,635 $ 705 $ 1,789 $ 906 Beginning balance at original discount rate 64,056 34,638 43,729 7,620 3,818 2,919 13,427 2,258 599 1,562 661 Effect of changes in cash flow assumptions 24 85 31 (11) (178) (143) (326) (3) (29) 31 0 Effect of actual variances from expected (149) (458) (139) (15) (115) (41) (304) (36) (15) 34 (3) Adjusted beginning of period balance 63,931 34,265 43,621 7,594 3,525 2,735 12,797 2,219 555 1,627 658 Issuances 1,133 1,155 287 62 372 355 563 271 40 115 0 Interest accrual 2,014 769 833 129 137 100 553 85 23 58 33 Benefit payments (3,894) (1,313) (1,373) (238) (439) (520) (834) (275) (69) (107) (46) Foreign currency translation (6,377) (3,478) (4,366) (760) 0 0 0 0 0 0 0 Other 0 0 0 0 (1) 0 0 0 0 1 0 Ending balance at original discount rate 56,807 31,398 39,002 6,787 3,594 2,670 13,079 2,300 549 1,694 645 Effect of changes in discount rate assumptions 15,940 4,623 3,718 535 355 201 2,309 252 67 149 192 Balance at December 31, 2021 72,747 36,021 42,720 7,322 3,949 2,871 15,388 2,552 616 1,843 837 Net liability for future policy benefits 46,854 14,847 31,873 5,736 666 1,009 9,365 1,085 352 1,009 684 Less: reinsurance recoverable 0 2,150 0 0 0 0 0 0 0 10 0 Net liability for future policy benefits after $ 46,854 $ 12,697 $ 31,873 $ 5,736 $ 666 $ 1,009 $ 9,365 $ 1,085 $ 352 $ 999 $ 684 The following table presents a reconciliation of the rollforwards by reporting segment and disaggregated by product type for the year ended December 31, 2021 to the liability for future policy benefits as of December 31, 2021 under the amended guidance. The deferred profit liability for limited-payment contracts and reinsurance is presented together with the LFPB in the consolidated balance sheets and has been included as a reconciling item in the table below. (In millions) December 31, Balances included in future policy benefits rollforward: Aflac Japan Cancer $ 46,854 Medical and other health 14,847 Life insurance 31,873 Other 5,736 Aflac U.S. Accident 666 Disability 1,009 Critical care 9,365 Hospital indemnity 1,085 Dental/vision 352 Life insurance 1,009 Other 684 Corporate and other 30 Deferred profit liability - limited-payment contracts 1,595 Deferred profit liability - reinsurance 859 Total $ 115,964 The adoption of ASU 2018-12 did not have an impact on the Company's balance for deferred policy acquisition costs upon adoption. ASU 2023-02 Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method In March 2023, the FASB issued amendments to permit reporting entities to elect to account for their tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain condi

BUSINESS SEGMENT INFORMATION

BUSINESS SEGMENT INFORMATION	3 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
BUSINESS SEGMENT INFORMATION	BUSINESS SEGMENT INFORMATION The Company consists of two reportable insurance business segments: Aflac Japan and Aflac U.S., both of which sell supplemental health and life insurance. 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 non-recurring 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, follows: Three Months Ended September 30, Nine Months Ended September 30, (In millions) 2023 2022 2023 2022 Revenues: Aflac Japan: Net earned premiums (1) $ 1,973 $ 2,125 $ 6,207 $ 7,084 Adjusted net investment income (2),(3) 679 663 1,927 2,066 Other income 8 9 26 26 Total adjusted revenue Aflac Japan 2,660 2,797 8,160 9,176 Aflac U.S.: Net earned premiums 1,419 1,375 4,272 4,182 Adjusted net investment income (4) 209 185 609 563 Other income 33 38 102 120 Total adjusted revenue Aflac U.S. 1,661 1,598 4,983 4,865 Corporate and other (5),(6) 115 73 384 189 Total adjusted revenues 4,436 4,468 13,527 14,230 Net investment gains (losses) (2),(3),(4),(5) 514 236 1,396 962 Total revenues $ 4,950 $ 4,704 $ 14,923 $ 15,192 (1) Includes a gain (loss) of $22 and $(41) for the three-month periods and $22 and $(42) for the nine-month periods ended September 30, 2023 and 2022, respectively, related to remeasurement of the deferred profit liability for limited-payment contracts. (2) Amortized hedge costs of $26 and $28 for the three-month periods and $148 and $84 for the nine-month periods ended September 30, 2023, and 2022, 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. (3) Net interest cash flows from derivatives associated with certain investment strategies of $(79) and $(25) for the three-month periods and $(214) and $(37) for the nine-month periods ended September 30, 2023, and 2022, 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 $(9) and $(1) for the three-month periods and $(24) and $1 for the nine-month periods ended September 30, 2023, and 2022, have been reclassified from net investment gains (losses) and included in adjusted earnings as a component of net investment income when analyzing operations. (5) Amortized hedge income of $25 and $19 for the three-month periods and $92 and $44 for the nine-month periods ended September 30, 2023, and 2022, 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. (6) The change in value of federal historic rehabilitation and solar investments in partnerships of $64 and $19 for the three-month periods and $169 and $61 for the nine-month periods ended September 30, 2023, and 2022, respectively, is included as a reduction to net investment income. Tax credits on these investments of $63 and $19 for the three-month periods and $171 and $63 for the nine-month periods ended September 30, 2023, and 2022, respectively, have been recorded as an income tax benefit in the consolidated statements of earnings. See Note 3 for additional information on these investments. Prior-year amounts have been adjusted for the adoption of accounting guidance on January 1, 2023 related to accounting for long-duration insurance contracts. Three Months Ended September 30, Nine Months Ended September 30, (In millions) 2023 2022 2023 2022 Pretax earnings: Aflac Japan (1),(2),(3) $ 869 $ 817 $ 2,479 $ 2,560 Aflac U.S. (4) 478 345 1,199 1,020 Corporate and other (5),(6),(7) (49) (56) (107) (173) Pretax adjusted earnings (8) 1,298 1,106 3,571 3,407 Net investment gains (losses) (2),(3),(4),(5),(6) 504 222 1,363 923 Other income (loss) 3 1 38 1 Total earnings before income taxes $ 1,805 $ 1,329 $ 4,972 $ 4,331 Income taxes applicable to pretax adjusted earnings $ 203 $ 196 $ 570 $ 610 Effect of foreign currency translation on after-tax (33) (97) (100) (192) (1) Includes a gain (loss) of $22 and $(41) for the three-month periods and $22 and $(42) for the nine-month periods ended September 30, 2023 and 2022, respectively, related to remeasurement of the deferred profit liability for limited-payment contracts. (2) Amortized hedge costs of $26 and $28 for the three-month periods and $148 and $84 for the nine-month periods ended September 30, 2023, and 2022, 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. (3) Net interest cash flows from derivatives associated with certain investment strategies of $(79) and $(25) for the three-month periods and $(214) and $(37) for the nine-month periods ended September 30, 2023, and 2022, 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 $(9) and $(1) for the three-month periods and $(24) and $1 for the nine-month periods ended September 30, 2023, and 2022, have been reclassified from net investment gains (losses) and included in adjusted earnings as a component of net investment income when analyzing operations. (5) Amortized hedge income of $25 and $19 for the three-month periods and $92 and $44 for the nine-month periods ended September 30, 2023, and 2022, respectively, related to certain foreign currency exposure management strategies has been reclassified from net investment gains (losses) and reported as an increase in net investment income when analyzing operations. (6) A gain of $8 and $13 for the three-month periods and $32 and $38 for the nine-month periods ended September 30, 2023, and 2022, 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. (7) The change in value of federal historic rehabilitation and solar investments in partnerships of $64 and $19 for the three-month periods and $169 and $61 for the nine-month periods ended September 30, 2023, and 2022, respectively, is included as a reduction to net investment income. Tax credits on these investments of $63 and $19 for the three-month periods and $171 and $63 for the nine-month periods ended September 30, 2023, and 2022, respectively, have been recorded as an income tax benefit in the consolidated statements of earnings. See Note 3 for additional information on these investments. (8) Includes $39 and $45 for the three-month periods and $109 and $127 for the nine-month periods ended September 30, 2023, and 2022, respectively, of interest expense on debt. Prior-year amounts have been adjusted for the adoption of accounting guidance on January 1, 2023 related to accounting for long-duration insurance contracts. Assets were as follows: (In millions) September 30, December 31, Assets: Aflac Japan $ 99,407 $ 105,734 Aflac U.S. 20,751 21,002 Corporate and other 4,953 5,002 Total assets $ 125,111 $ 131,738 Prior-year amounts have been adjusted for the adoption of accounting guidance on January 1, 2023 related to accounting for long-duration insurance contracts.

INVESTMENTS

INVESTMENTS	9 Months Ended
	Sep. 30, 2023
Investments [Abstract]
INVESTMENTS	INVESTMENTS Investment Holdings The amortized cost and allowance for credit losses for the Company's investments in fixed maturity securities and the fair values of these investments as well as the fair value of the Company's investments in equity securities are shown in the following tables. September 30, 2023 (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 $ 22,605 $ 0 $ 863 $ 1,695 $ 21,773 Municipalities 918 0 105 58 965 Mortgage- and asset-backed securities 206 0 6 11 201 Public utilities 3,652 0 292 89 3,855 Sovereign and supranational 355 0 19 6 368 Banks/financial institutions 5,561 0 301 403 5,459 Other corporate 5,835 0 587 374 6,048 Total yen-denominated 39,132 0 2,173 2,636 38,669 U.S. dollar-denominated: U.S. government and agencies 189 0 0 10 179 Municipalities 1,241 0 47 112 1,176 Mortgage- and asset-backed securities 2,641 0 228 74 2,795 Public utilities 3,342 0 291 238 3,395 Sovereign and supranational 121 0 31 9 143 Banks/financial institutions 2,696 0 285 99 2,882 Other corporate 19,799 0 2,006 1,243 20,562 Total U.S. dollar-denominated 30,029 0 2,888 1,785 31,132 Total securities available-for-sale $ 69,161 $ 0 $ 5,061 $ 4,421 $ 69,801 December 31, 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 September 30, 2023 (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 $ 16,202 $ 2 $ 16,200 $ 1,487 $ 0 $ 17,687 Municipalities 253 0 253 36 0 289 Public utilities 33 0 33 3 0 36 Sovereign and supranational 399 3 396 33 0 429 Other corporate 17 0 17 2 0 19 Total yen-denominated 16,904 5 16,899 1,561 0 18,460 Total securities held-to-maturity $ 16,904 $ 5 $ 16,899 $ 1,561 $ 0 $ 18,460 December 31, 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 (In millions) September 30, December 31, 2022 Equity securities, carried at fair value through net earnings: Fair Value Fair Value Equity securities: Yen-denominated $ 708 $ 670 U.S. dollar-denominated 241 374 Other currencies 41 47 Total equity securities $ 990 $ 1,091 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 the first nine months of 2023 and 2022, respectively, the Company did not reclassify any investments from the held-to-maturity category to the available-for-sale category. Contractual and Economic Maturities The contractual and economic maturities of the Company's investments in fixed maturity securities at September 30, 2023, were as follows: (In millions) Amortized (1) Fair Available-for-sale: Due in one year or less $ 1,835 $ 1,871 Due after one year through five years 6,385 6,920 Due after five years through 10 years 16,998 18,432 Due after 10 years 41,096 39,582 Mortgage- and asset-backed securities 2,847 2,996 Total fixed maturity securities available-for-sale $ 69,161 $ 69,801 Held-to-maturity: Due in one year or less $ 0 $ 0 Due after one year through five years 35 37 Due after five years through 10 years 9,014 9,815 Due after 10 years 7,850 8,608 Mortgage- and asset-backed securities 0 0 Total fixed maturity securities held-to-maturity $ 16,899 $ 18,460 (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 were as follows: September 30, 2023 December 31, 2022 (In millions) Credit Amortized Fair Credit Amortized Fair Japan National Government (1) A+ $37,858 $38,498 A+ $42,618 $44,178 (1) Japan Government Bonds (JGBs) or JGB-backed securities Net Investment Gains and Losses Information regarding pretax net gains and losses from investments is as follows: Three Months Ended September 30, Nine Months Ended September 30, (In millions) 2023 2022 2023 2022 Net investment gains (losses): Sales and redemptions: Fixed maturity securities available-for-sale: Gross gains from sales $ 3 $ 8 $ 11 $ 93 Gross losses from sales (13) (4) (22) (30) Foreign currency gains (losses) 51 54 136 187 Other investments: Gross gains (losses) from sales and redemptions 36 1 33 10 Commercial mortgage and other loans: Gross gains (losses) from sales and redemptions (53) 0 (53) 0 Total sales and redemptions 24 59 105 260 Equity securities 47 (22) 35 (313) Credit losses: Fixed maturity securities held-to-maturity 0 0 1 0 Commercial mortgage and other loans (30) (12) (63) (8) Impairment losses 0 (4) 0 (21) Loan commitments 1 5 5 7 Reinsurance recoverables and other 0 0 (3) 2 Total credit losses (29) (11) (60) (20) Derivatives and other: Derivative gains (losses) (53) (491) (630) (1,515) Foreign currency gains (losses) 434 664 1,651 2,473 Total derivatives and other 381 173 1,021 958 Total net investment gains (losses) $ 423 $ 199 $ 1,101 $ 885 The unrealized holding gains, net of losses, recorded as a component of net investment gains and losses for the three-month period ended September 30, 2023 that relate to equity securities held at the September 30, 2023 reporting date were $47 million. The unrealized holding gains, net of losses, recorded as a component of net investment gains and losses for the nine-month period ended September 30, 2023 that relate to equity securities held at the September 30, 2023 reporting date were $13 million. Unrealized Investment Gains and Losses Effect on Shareholders’ Equity The net effect on shareholders’ equity of unrealized gains and losses from fixed maturity securities was as follows: (In millions) September 30, December 31, Unrealized gains (losses) on securities available-for-sale $ 640 $ 272 Deferred income taxes (1,043) (974) Shareholders’ equity, unrealized gains (losses) on fixed maturity securities $ (403) $ (702) Gross Unrealized Loss Aging The following tables show the fair values and gross unrealized losses of the Company's available-for-sale investments for the periods ended September 30, 2023 and December 31, 2022, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position. September 30, 2023 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 $ 179 $ 10 $ 42 $ 1 $ 137 $ 9 Japan government and Yen-denominated 7,997 1,695 656 24 7,341 1,671 Municipalities: U.S. dollar-denominated 738 112 123 7 615 105 Yen-denominated 283 58 32 0 251 58 Mortgage- and asset- U.S. dollar-denominated 1,094 74 804 61 290 13 Yen-denominated 54 11 0 0 54 11 Public utilities: U.S. dollar-denominated 1,754 238 944 96 810 142 Yen-denominated 963 89 415 18 548 71 Sovereign and supranational: U.S. dollar-denominated 33 9 0 0 33 9 Yen-denominated 58 6 0 0 58 6 Banks/financial institutions: U.S. dollar-denominated 1,043 99 460 16 583 83 Yen-denominated 3,491 403 110 3 3,381 400 Other corporate: U.S. dollar-denominated 8,831 1,243 2,994 166 5,837 1,077 Yen-denominated 2,017 374 524 27 1,493 347 Total $ 28,535 $ 4,421 $ 7,104 $ 419 $ 21,431 $ 4,002 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 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. Further, 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. Based on an evaluation of its securities currently in an unrealized loss position, the Company has determined that those securities should not have a credit loss allowance as of September 30, 2023 . Refer to the Allowance for Credit Losses section below for additional information. As of September 30, 2023 and December 31, 2022, the Company had an immaterial amount of fixed maturity securities on nonaccrual status. Commercial Mortgage and Other Loans The Company classifies its transitional real estate loans (TREs), commercial mortgage loans (CMLs) and middle market loans (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 the periods presented. (In millions) September 30, 2023 December 31, 2022 Amortized Cost % of Total Amortized Cost % of Total Commercial Mortgage and other loans: Transitional real estate loans: Office $ 1,912 14.6 % $ 2,158 15.8 % Retail 471 3.6 493 3.6 Apartments/Multi-Family 2,616 19.8 2,701 19.7 Industrial 442 3.4 123 .9 Hospitality 813 6.2 803 5.9 Other 296 2.3 231 1.7 Total transitional real estate loans 6,550 49.9 6,509 47.6 Commercial mortgage loans: Office 375 2.9 388 2.8 Retail 304 2.3 310 2.3 Apartments/Multi-Family 604 4.6 630 4.6 Industrial 451 3.4 694 5.1 Total commercial mortgage loans 1,734 13.2 2,022 14.8 Middle market loans 4,849 36.9 5,157 37.6 Total commercial mortgage and other loans $ 13,133 100.0 % $ 13,688 100.0 % Allowance for credit losses (260) (192) Total net commercial mortgage and other loans $ 12,873 $ 13,496 CMLs and TREs were secured by properties entirely within the U.S. (with the largest concentrations in California (20%), Texas (13%) 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. As of September 30, 2023, the Company had $661 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 $19 million and $28 million for a short term credit facility that is reflected in other liabilities on the consolidated balance sheets, as of September 30, 2023, and December 31, 2022, respectively. As of September 30, 2023, the Company had commitments of approximately $745 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), which is calculated by dividing the current outstanding loan balance by the estimated property value at origination. Given that TREs involve properties undergoing a repositioning of their commercial profile, LTV 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. The monitoring process also focuses on higher risk loans, which include those that are delinquent or for which foreclosure or deed in lieu of foreclosure is anticipated. For CMLs, the Company’s key credit quality indicators include LTV and debt service coverage ratios (DSCR). 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 September 30, 2023, the Company's reinsurance counterparties were rated A+. The Company monitors the credit ratings periodically, but not less frequently than quarterly. The following tables present as of September 30, 2023 the amortized cost basis of TREs, CMLs and MMLs by year of origination and credit quality indicator. Transitional Real Estate Loans (In millions) 2023 2022 2021 2020 2019 Prior Total Loan-to-Value Ratio: 0%-59.99% $ 114 $ 805 $ 554 $ 36 $ 124 $ 10 $ 1,643 60%-69.99% 43 561 673 52 469 125 1,923 70%-79.99% 0 809 956 139 249 65 2,218 80% or greater 0 215 214 46 96 195 766 Total $ 157 $ 2,390 $ 2,397 $ 273 $ 938 $ 395 $ 6,550 Commercial Mortgage Loans (In millions) 2023 2022 2021 2020 2019 Prior Total Weighted-Average DSCR Loan-to-Value Ratio: 0%-59.99% $ 19 $ 0 $ 311 $ 45 $ 459 $ 596 $ 1,430 2.57 60%-69.99% 0 0 0 0 17 87 104 1.82 70%-79.99% 0 0 0 0 80 44 124 1.49 80% or greater 0 0 0 0 28 48 76 2.20 Total $ 19 $ 0 $ 311 $ 45 $ 584 $ 775 $ 1,734 2.43 Weighted Average DSCR 2.08 0.00 3.18 2.05 2.44 2.14 Middle Market Loans (In millions) 2023 2022 2021 2020 2019 Prior Revolving Loans Total Credit Ratings: BBB $ 7 $ 57 $ 128 $ 68 $ 37 $ 27 $ 146 $ 470 BB 31 321 466 297 170 111 388 1,784 B 15 216 615 362 420 291 285 2,204 CCC 0 5 21 39 110 134 56 365 CC 0 0 0 0 7 10 0 17 C and lower 0 0 0 0 0 6 3 9 Total $ 53 $ 599 $ 1,230 $ 766 $ 744 $ 579 $ 878 $ 4,849 Loan Modifications The Company granted certain loan modifications in its MML and TRE portfolios during the first nine months of 2023. As of September 30, 2023, these loan modifications did not have a material impact on the Company’s results of operations. Past Due and Nonaccrual Loans The Company designates nonaccrual status for a nonperforming loan or debt security or a loan or debt security that is not generating its stated interest rate because of nonpayment of periodic interest or principal by the borrower. The Company applies the cash basis method to record any payments received on nonaccrual 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). The following table presents an aging of past due and nonaccrual loans at amortized cost, before allowance for credit losses, as of the period presented. September 30, 2023 (In millions) Current Less Than 90 Days Past Due 90 Days or More Past Due (1) Total Past Due Total Nonaccrual Status Transitional real estate loans $ 6,005 $ 54 $ 491 $ 545 $ 6,550 $ 545 Commercial mortgage loans 1,734 0 0 0 1,734 0 Middle market loans 4,774 0 75 75 4,849 75 Total $ 12,513 $ 54 $ 566 $ 620 $ 13,133 $ 620 (1) As of September 30, 2023, there were no loans that were 90 days or more past due that continued to accrue interest For the three- and nine-month periods ended September 30, 2023, the Company recognized no interest income for TREs, CMLs, or MMLs on nonaccrual status. Of these loans, TREs with an amortized cost of $65 million had no credit loss allowance as of September 30, 2023 because these loans are collateral dependent assets for which the estimated fair values of the collateral are in excess of amortized cost. As of September 30, 2023, there were no MMLs on nonaccrual status without an allowance for credit losses. As of December 31, 2022, the Company had an immaterial amount of loans on nonaccrual status. 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. On a quarterly basis, CMLs and TREs within a portfolio segment that share similar risk characteristics are pooled for calculation of credit loss allowance. On an ongoing basis, TREs and CMLs with dissimilar risk characteristics (i.e., loans with significant declines in credit quality), such as collateral dependent mortgage loans (i.e., when the borrower is experiencing financial difficulty, including when foreclosure is probable), are evaluated individually for credit loss. For example, the credit loss allowance for a collateral dependent loan is established as the excess of amortized cost over the estimated fair value of the loan’s underlying collateral, less selling cost when foreclosure is probable. Accordingly, the change in the estimated fair value of the collateral dependent loans, which are evaluated individually for credit loss, is recorded as a change in the credit loss allowance which is recorded on a quarterly basis as a charge or credit to earnings in net investment gains (losses). 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 $16.1 billion amortized cost as of September 30, 2023 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 following table presents the roll forward of the allowance for credit losses by portfolio segment for loans and by accounting classification for securities. (In millions) Transitional Real Estate Loans Commercial Mortgage Loans Middle Market Loans Held-to-Maturity Securities Available-for-Sale Securities Reinsurance Recoverables Three Months Ended September 30, 2023: Balance at June 30, 2023 $ (76) $ (9) $ (140) $ (5) $ 0 $ (10) (Addition to) release of allowance for credit losses (1) (35) (3) 3 1 0 0 Write-offs, net of recoveries 0 0 0 0 0 0 Change in foreign exchange 0 0 0 (1) 0 1 Balance at September 30, 2023 (2) $ (111) $ (12) $ (137) $ (5) $ 0 $ (9) Three Months Ended September 30, 2022: Balance at June 30, 2022 $ (53) $ (8) $ (109) $ (7) $ 0 $ (8) (Addition to) release of allowance for credit (2) (2) (6) 0 0 0 Write-offs, net of recoveries 0 0 (2) 0 0 0 Change in foreign exchange 0 0 0 1 0 0 Balance at September 30, 2022 (2) $ (55) $ (10) $ (117) $ (6) $ 0 $ (8) Nine Months Ended September 30, 2023: Balance at December 31, 2022 $ (54) $ (9) $ (129) $ (7) $ 0 $ (8) (Addition to) release of allowance for credit losses (1) (57) (3) (8) 1 0 (2) Write-offs, net of recoveries 0 0 0 0 0 0 Change in foreign exchange 0 0 0 1 0 1 Balance at September 30, 2023 (2) $ (111) $ (12) $ (137) $ (5) $ 0 $ (9) Nine Months Ended September 30, 2022: Balance at December 31, 2021 $ (68) $ (10) $ (96) $ (8) $ 0 $ (13) (Addition to) release of allowance for credit 13 0 (24) 0 0 2 Write-offs, net of recoveries 0 0 3 0 0 0 Change in foreign exchange 0 0 0 2 0 3 Balance at September 30, 2022 (2) $ (55) $ (10) $ (117) $ (6) $ 0 $ (8) (1) Includes an allowance for credit losses of $4 recognized on financial assets accounted for as purchased financial assets with credit deterioration that is not recorded in earnings upon recognition. (2) Excludes allowance on firm loan commitments of $19 and $26 as of September 30, 2023 and 2022, respectively. For the period ended September 30, 2023, the Company completed foreclosure or deed in lieu of foreclosure on TREs collateralized with commercial real estate properties with an amortized cost of $142 million. As a result of the excess of amortized cost over the estimated fair value of the collateral of the TREs, upon consummating the foreclosures or deed in lieu of foreclosure transactions, the Company recognized a net loss of $53 million for the three- and nine-month periods ended September 30, 2023, in net investment gains (losses). Real estate obtained via foreclosure or deed in lieu of foreclosure is reported as real estate owned (REO) and included in other investments in the consolidated balance sheet. Refer to the Other Investments section below for additional information. As of September 30, 2023, the Company identified additional TREs with an amortized cost of $546 million in anticipation of potential foreclosure or deed in lieu of foreclosure transactions. As of September 30, 2023, the Company established a credit allowance of $35 million for $481 million of loans for which the fair value of the collateral was below the amortized cost of the loans. For assets that are subject to the credit loss measurement, the change in credit loss allowance is 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 as of September 30, 2023 was $19 million. Other Investments The table below reflects the composition of the carrying value for other investments as of the periods presented. (In millions) September 30, December 31, 2022 Other investments: Policy loans $ 201 $ 214 Short-term investments (1) 2,288 1,532 Limited partnerships 2,629 2,290 Real estate owned 89 0 Other 34 34 Total other investments $ 5,241 $ 4,070 (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 sheets. 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 statements of earnings. REO consists of office buildings or other commercial properties obtained through foreclosure or deed in lieu of foreclosure of certain of the Company’s TREs. As of September 30, 2023, $16 million of REO was classified as h

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	9 Months Ended
	Sep. 30, 2023
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 variable interest entity (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). 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. 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. September 30, 2023 December 31, 2022 (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 $ 4 $ 18 $ 0 $ 3 Total cash flow hedges 18 0 4 18 0 3 Fair value hedges: Foreign currency options 6,127 0 0 7,940 45 0 Total fair value hedges 6,127 0 0 7,940 45 0 Net investment hedge: Foreign currency forwards 2,383 290 0 4,982 383 85 Foreign currency options 870 0 0 2,630 7 0 Total net investment hedge 3,253 290 0 7,612 390 85 Non-qualifying strategies: Foreign currency swaps 1,200 39 0 1,900 66 0 Foreign currency swaps - VIE 3,416 59 438 3,420 62 387 Foreign currency forwards 7,402 189 588 5,049 17 640 Foreign currency options 18,223 1 0 5,521 30 0 Interest rate swaps 17,730 0 636 17,730 7 583 Total non-qualifying strategies 47,971 288 1,662 33,620 182 1,610 Total derivatives $ 57,369 $ 578 $ 1,666 $ 49,190 $ 617 $ 1,698 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 three 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. 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 Three Months Ended September 30, 2023: Foreign currency options Fixed maturity securities $ (1) $ (1) $ 0 $ 0 $ 0 Total gains (losses) $ (1) $ (1) $ 0 $ 0 $ 0 Nine Months Ended September 30, 2023: Foreign currency options Fixed maturity securities $ (65) $ (65) $ 0 $ 0 $ 0 Total gains (losses) $ (65) $ (65) $ 0 $ 0 $ 0 Three Months Ended September 30, 2022: Foreign currency options Fixed maturity securities $ (15) $ (15) $ 0 $ 0 $ 0 Total gains (losses) $ (15) $ (15) $ 0 $ 0 $ 0 Nine Months Ended September 30, 2022: Foreign currency options Fixed maturity securities $ (41) $ (41) $ 0 $ 0 $ 0 Total gains (losses) $ (41) $ (41) $ 0 $ 0 $ 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 statements 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 statements 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 (losses) consistent with the impact of the hedged item. For the three- and nine-month periods ended September 30, 2023 and 2022, 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. The Company had no fair value hedges of interest rate risk as of September 30, 2023 and December 31, 2022; therefore, the amounts presented in the table below are related to previous fair value hedges of interest rate risk that were discontinued. (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) September 30, December 31, 2022 September 30, December 31, 2022 Fixed maturity securities $ 1,829 $ 2,360 $ 179 $ 189 (1) The balance includes hedging adjustment on discontinued hedging relationships of $179 in 2023 and $189 in 2022. 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 three- and nine-month periods ended September 30, 2023 and 2022, respectively. 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 n et i nvestment 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 in current period earnings, the change in value of the available-for-sale fixed maturity securities associated with these swaps is recorded in other comprehensive income. As of September 30, 2023, the Parent Company had $1.2 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 of the Notes to the Consolidated Financial Statements in the 2022 Annual Report. The Company uses foreign currency 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 currency forwards within net investment gains (losses). The Company also has certain foreign currency 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. Three Months Ended September 30, 2023 2022 (In millions) 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) $ (1) $ 1 $ 0 $ (1) $ 1 Total cash flow hedges (1) (1) (3) 1 0 (1) (3) 1 Fair value hedges: Foreign currency options (1) (15) Total fair value hedges (1) (15) Net investment hedge: Non-derivative hedging 0 112 0 181 Foreign currency forwards 71 32 28 236 Foreign currency options 0 0 (1) 0 Total net investment hedge 71 144 27 417 Non-qualifying strategies: Foreign currency swaps 1 27 Foreign currency swaps - VIE (22) (19) Foreign currency forwards 32 (252) Foreign currency options (9) 0 Interest rate swaps (124) (257) Forward bond purchase 0 (1) Total non- qualifying strategies (122) (502) Total $ (1) $ (53) $ 145 $ 0 $ (491) $ 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 statements of comprehensive income (loss). (3) Impact of cash flow hedges reported as net investment gains (losses) includes $1 of losses reclassified from accumulated other comprehensive income (loss) into earnings during the three-month period ended September 30, 2023, and $1 of losses during the three-month period ended September 30, 2022 . Nine Months Ended September 30, 2023 2022 (In millions) 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) $ (3) $ 3 $ 0 $ (3) $ 2 Total cash flow hedges (1) (3) (3) 3 0 (3) (3) 2 Fair value hedges: Foreign currency options (65) (41) Interest rate swaptions (4) (1) 0 1 0 0 0 Total fair value hedges (1) (65) 1 0 (41) 0 Net investment hedge: Non-derivative hedging 0 450 0 705 Foreign currency forwards 198 454 (73) 1,059 Foreign currency options (8) 0 (2) 0 Total net investment hedge 190 904 (75) 1,764 Non-qualifying strategies: Foreign currency swaps 4 162 Foreign currency swaps - VIE (112) (35) Foreign currency forwards (350) (966) Foreign currency options (46) (13) Interest rate swaps (244) (523) Forward bond purchase (4) (21) Total non-qualifying strategies (752) (1,396) Total $ (2) $ (630) $ 908 $ 0 $ (1,515) $ 1,766 (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 statements of comprehensive income (loss). (3) Impact of cash flow hedges reported as net investment gains (losses) includes $3 of losses reclassified from accumulated other comprehensive income (loss) into earnings during the nine-month period ended September 30, 2023, and $3 of losses during the nine-month period ended September 30, 2022. (4) Includes $1 of losses reclassified from accumulated other comprehensive income (loss) into earnings during the nine-month period ended September 30, 2023 and $1 of losses during the nine-month period ended September 30, 2022 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 September 30, 2023, $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 September 30, 2023, 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 as of September 30, 2023, and December 31, 2022, respectively. If the credit-risk-related contingent features underlying these agreements had been triggered on September 30, 2023, the Company estimates that it would be required to post a maximum of $227 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. The tables below summarize the Company's derivatives and securities lending transactions, 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 September 30, 2023 Gross Amounts Not Offset (In millions) Gross Amount of Recognized Assets Gross Amount Net Amount of Assets Presented Financial Instruments Securities Cash Collateral Received Net Amount Derivative Derivative assets subject to a master netting agreement or offsetting arrangement OTC - bilateral $ 519 $ 0 $ 519 $ (189) $ (103) $ (225) $ 2 OTC - cleared 0 0 0 0 0 0 0 Total derivative 519 0 519 (189) (103) (225) 2 Derivative assets not subject to a master netting agreement or offsetting arrangement OTC - bilateral 59 59 59 Total derivative 59 59 59 Total derivative 578 0 578 (189) (103) (225) 61 Securities lending 4,563 0 4,563 0 0 (4,563) 0 Total $ 5,141 $ 0 $ 5,141 $ (189) $ (103) $ (4,788) $ 61 December 31, 2022 Gross Amounts Not Offset (In millions) Gross Amount of Recognized Assets Gross Amount Net Amount of Assets Presented Financial Instruments Securities Cash Collateral Received Net Amount 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 Offsetting of Financial Liabilities and Derivative Liabilities September 30, 2023 Gross Amounts Not Offset (In millions) Gross Amount of Recognized Liabilities Gross Amount Net Amount of Liabilities Presented Financial Instruments Securities Cash Collateral Pledged Net Amount Derivative Derivative liabilities subject to a master netting agreement or offsetting arrangement OTC - bilateral $ 588 $ 0 $ 588 $ (189) $ (362) $ (36) $ 1 OTC - cleared 636 0 636 0 (3) (633) 0 Total derivative 1,224 0 1,224 (189) (365) (669) 1 Derivative liabilities not subject to a master netting agreement or offsetting arrangement OTC - bilateral 442 442 442 Total derivative 442 442 442 Total derivative 1,666 0 1,666 (189) (365) (669) 443 Securities lending 4,607 0 4,607 (4,563) 0 0 44 Total $ 6,273 $ 0 $ 6,273 $ (4,752) $ (365) $ (669) $ 487 December 31, 2022 Gross Amounts Not Offset (In millions) Gross Amount of Recognized Liabilities Gross Amount Net Amount of Liabilities Presented Financial Instruments Securities Cash Collateral Pledged Net Amount 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 For additional information on the Company's financial instruments, see the accompanying Notes 3 and 5 and Notes 1, 3 and 5 of the Notes to the Consolidated Financial Statements in the 2022 Annual Report.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2023
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. September 30, 2023 (In millions) Quoted Prices in Significant Significant Total Assets: Securities available-for-sale, carried at Fixed maturity securities: Government and agencies $ 21,095 $ 857 $ 0 $ 21,952 Municipalities 0 2,141 0 2,141 Mortgage- and asset-backed securities 0 2,316 680 2,996 Public utilities 0 6,991 259 7,250 Sovereign and supranational 0 480 31 511 Banks/financial institutions 0 8,271 70 8,341 Other corporate 0 26,046 564 26,610 Total fixed maturity securities 21,095 47,102 1,604 69,801 Equity securities 787 0 203 990 Other investments 2,288 0 0 2,288 Cash and cash equivalents 5,502 0 0 5,502 Other assets: Foreign currency swaps 0 98 0 98 Foreign currency forwards 0 479 0 479 Foreign currency options 0 1 0 1 Total other assets 0 578 0 578 Total assets $ 29,672 $ 47,680 $ 1,807 $ 79,159 Liabilities: Other liabilities: Foreign currency swaps $ 0 $ 442 $ 0 $ 442 Foreign currency forwards 0 588 0 588 Interest rate swaps 0 636 0 636 Total liabilities $ 0 $ 1,666 $ 0 $ 1,666 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 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. September 30, 2023 (In millions) Carrying Quoted Prices in Significant Significant Total Assets: Securities held-to-maturity, Fixed maturity securities: Government and agencies $ 16,200 $ 17,530 $ 157 $ 0 $ 17,687 Municipalities 253 0 289 0 289 Public utilities 33 0 36 0 36 Sovereign and 396 0 429 0 429 Other corporate 17 0 19 0 19 Commercial mortgage and 12,873 0 0 12,432 12,432 Other investments (1) 34 0 34 0 34 Total assets $ 29,806 $ 17,530 $ 964 $ 12,432 $ 30,926 Liabilities: Other policyholders’ funds $ 5,884 $ 0 $ 0 $ 5,795 $ 5,795 Notes payable 6,824 0 5,555 713 6,268 Total liabilities $ 12,708 $ 0 $ 5,555 $ 6,508 $ 12,063 (1) Excludes policy loans of $201, equity method investments of $2,629 and REO of $89, at carrying valu e 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 $ 6,643 $ 0 $ 0 $ 6,543 $ 6,543 Notes payable 7,295 0 6,024 802 6,826 Total liabilities $ 13,938 $ 0 $ 6,024 $ 7,345 $ 13,369 (1) Excludes policy loans of $214 and equity method investments of $2,290, at carrying value Prior-year amounts have been adjusted for the adoption of accounting guidance on January 1, 2023 related to accounting for long-duration insurance contracts. Fair Value of Financial Instruments Fixed maturity and equity securities The Company determines the fair values of fixed maturity securities and public 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. The fair values of the Company’s public fixed maturity securities are generally based on prices provided by third-party pricing vendors. The Company utilizes internally generated valuations or broker quotes for privately-issued fixed maturity securities or fixed maturity securities where there is no price available from a third-party pricing vendor. For internally generated valuations, the Company utilizes valuation models developed by a third-party pricing vendor. The models and associated processes and controls are executed by Company personnel. These models are discounted cash flow (DCF) valuation models but also use information from related markets, specifically public bond markets and the credit default swap (CDS) market, to estimate expected cash flows. The models take into consideration any unique characteristics of the securities and make various adjustments to arrive at an appropriate issuer-specific loss adjusted credit curve using the most appropriate comparable security(ies) of the issuer and issuer-specific CDS spreads. This credit curve is then used with the relevant recovery rates to estimate expected cash flows and modeling of additional features, including illiquidity adjustments, if necessary, to price the security by discounting those loss adjusted cash flows. In cases where a credit curve cannot be developed from market information for the specific issuer, the valuation methodology takes into consideration other market observable inputs, including: 1) the most appropriate comparable security(ies) of a guarantor and/or parent 2) CDS spreads of a guarantor and/or parent 3) bonds of comparable issuers with similar characteristics such as rating, geography, or sector 4) CDS spreads of an appropriate index or of comparable issuers with similar characteristics such as rating, geography, or sector 5) bond indices that are comparative in rating, industry, maturity, and region. Prices for public equity securities are readily available and are acquired from independent market data providers or established security dealer associations. 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 provider. 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, including independent validations and back testing, 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. September 30, 2023 (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 $ 21,095 $ 522 $ 0 $ 21,617 Internal 0 335 0 335 Total government and agencies 21,095 857 0 21,952 Municipalities: Third party pricing vendor 0 1,870 0 1,870 Internal 0 271 0 271 Total municipalities 0 2,141 0 2,141 Mortgage- and asset-backed securities: Third party pricing vendor 0 2,274 0 2,274 Internal 0 12 101 113 Broker/other 0 30 579 609 Total mortgage- and asset-backed securities 0 2,316 680 2,996 Public utilities: Third party pricing vendor 0 3,575 0 3,575 Internal 0 3,331 0 3,331 Broker/other 0 85 259 344 Total public utilities 0 6,991 259 7,250 Sovereign and supranational: Third party pricing vendor 0 143 0 143 Internal 0 337 0 337 Broker/other 0 0 31 31 Total sovereign and supranational 0 480 31 511 Banks/financial institutions: Third party pricing vendor 0 4,249 0 4,249 Internal 0 4,022 61 4,083 Broker/other 0 0 9 9 Total banks/financial institutions 0 8,271 70 8,341 Other corporate: Third party pricing vendor 0 20,854 0 20,854 Internal 0 5,105 209 5,314 Broker/other 0 87 355 442 Total other corporate 0 26,046 564 26,610 Total securities available-for-sale $ 21,095 $ 47,102 $ 1,604 $ 69,801 Equity securities, carried at fair value: Third party pricing vendor $ 787 $ 0 $ 0 $ 787 Broker/other 0 0 203 203 Total equity securities $ 787 $ 0 $ 203 $ 990 September 30, 2023 (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 $ 17,530 $ 157 $ 0 $ 17,687 Total government and agencies 17,530 157 0 17,687 Municipalities: Third party pricing vendor 0 289 0 289 Total municipalities 0 289 0 289 Public utilities: Third party pricing vendor 0 36 0 36 Total public utilities 0 36 0 36 Sovereign and supranational: Third party pricing vendor 0 213 0 213 Internal 0 216 0 216 Total sovereign and supranational 0 429 0 429 Other corporate: Third party pricing vendor 0 19 0 19 Total other corporate 0 19 0 19 Total securities held-to-maturity $ 17,530 $ 930 $ 0 $ 18,460 December 31, 2022 (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 $ 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 December 31, 2022 (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 $ 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 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 Basis 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 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. For these derivatives, the Company utilizes valuation models developed by independent valuation analytics providers. The models are market standard DCF models and all associated processes and controls are executed by Company personnel. These models take into consideration any unique characteristics of the derivatives in determining the appropriate valuation methodology to estimate expected cash flows. The fair values of these swaps are based on observable market inputs and are classified as Level 2 within 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 within 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 are classified as 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 The fair values of the Company's publicly issued notes payable are determined by utilizing available sources of observable inputs from third party pricing vendors and are classified as Level 2. The fair values of the Company's yen-denominated loans approximate their carrying values and are classified as Level 3. 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. The following tables present the changes in fair value of the Company's investments carried at fair value classified as Level 3. Three Months Ended September 30, 2023 Fixed Maturity Securities Equity (In millions) Mortgage- Public Sovereign and Supranational Banks/ Other Total Balance, beginning of period $ 652 $ 302 $ 32 $ 69 $ 572 $ 213 $ 1,840 Net investment gains (losses) included 0 0 0 0 0 (7) (7) Unrealized gains (losses) included in (13) (12) (1) (2) (41) 0 (69) Purchases, issuances, sales and Purchases 55 36 0 0 36 0 127 Issuances 0 0 0 0 0 0 0 Sales 0 0 0 0 0 0 0 Settlements (11) (6) 0 0 0 0 (17) Transfers into Level 3 0 0 0 3 39 0 42 Transfers out of Level 3 (3) (61) 0 0 (42) (3) (109) Balance, end of period $ 680 $ 259 $ 31 $ 70 $ 564 $ 203 $ 1,807 Changes in unrealized gains (losses) $ 0 $ 0 $ 0 $ 0 $ 0 $ (3) $ (3) Three Months Ended September 30, 2022 Fixed Maturity Securities Equity (In millions) Mortgage- Public Sovereign and Supranational Banks/ Other Total Balance, beginning of period $ 311 $ 537 $ 36 $ 91 $ 632 $ 190 $ 1,797 Net investment gains (losses) included 0 1 0 1 0 (3) (1) Unrealized gains (losses) included in (12) (30) (2) (12) (41) 0 (97) Purchases, issuances, sales and Purchases 56 7 0 88 145 10 306 Issuances 0 0 0 0 0 0 0 Sales 0 0 0 0 0 0 0 Settlements (21) (8) 0 (20) (183) 0 (232) Transfers into Level 3 0 0 0 0 68 0 68 Transfers out of Level 3 (24) 0 0 0 0 0 (24) Balance, end of period $ 310 $ 507 $ 34 $ 148 $ 621 $ 197 $ 1,817 Changes in unrealized gains (losses) $ 0 $ 1 $ 0 $ 0 $ 0 $ (2) $ (1) Nine Months Ended September 30, 2023 Fixed Maturity Securities Equity (In millions) Mortgage- Public Sovereign Banks/ Other Total Balance, beginning of period $ 343 $ 497 $ 37 $ 159 $ 742 $ 209 $ 1,987 Net investment gains (losses) included 0 0 0 0 0 (13) (13) Unrealized gains (losses) included in (23) (18) (4) 2 (33) 0 (76) Purchases, issuances, sales Purchases 383 36 0 0 148 10 577 Issuances 0 0 0 0 0 0 0 Sales 0 0 0 0 0 0 0 Settlements (144) (15) (2) (7) (3) 0 (171) Transfers into Level 3 124 18 0 3 39 0 184 Transfers out of Level 3 (3) (259) 0 (87) (329) (3) (681) Balance, end of period $ 680 $ 259 $ 31 $ 70 $ 564 $ 203 $ 1,807 Changes in unrealized gains $ 1 $ 1 $ 0 $ 0 $ 0 $ (9) $ (7) Nine Months Ended September 30, 2022 Fixed Maturity Securities Equity (In millions) Mortgage- Public Sovereign Banks/ Other Total Balance, beginning of period $ 291 $ 493 $ 43 $ 45 $ 426 $ 173 $ 1,471 Net investment gains (losses) included 0 2 0 1 0 (2) 1 Unrealized gains (losses) included in (81) (111) (9) (14) (96) 0 (311) Purchases, issuances, sales and Purchases 222 35 0 121 267 53 698 Issuances 0 0 0 0 0 0 0 Sales 0 0 0 0 0 0 0 Settlements (59) (40) 0 (23) (185) (7) (314) Transfers into Level 3 0 128 0 18 350 0 496 Transfers out of Level 3 (63) 0 0 0 (141) (20) (224) Balance, end of period $ 310 $ 507 $ 34 $ 148 $ 621 $ 197 $ 1,817 Changes in unrealized gains $ 0 $ 1 $ 0 $ 0 $ 0 $ (4) $ (3) Fair Value Sensitivity 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. Included in the tables are the inputs or range of possible inputs that have an effect on the overall valuation of the financial instruments. September 30, 2023 (In millions) Fair Value Valuation Technique(s) Unobservable Input Range Weighted Average Assets: Securities available-for-sale, carried at fair value: Fixed maturity securities: Mortgage- and asset-backed securities $ 680 Consensus pricing Offered quotes 80.10 - 105.93 (a) 97.03 Public utilities 259 Consensus pricing Offered quotes 93.16 - 98.77 (a) 95.08 Sovereign and supranational 31 Consensus pricing Offered quotes N/A (c) N/A Banks/financial institutions 70 Discounted cash flow Credit spreads N/A (c) N/A Other corporate 564 Discounted cash flow Credit spreads 68 bps - 512 bps (b) 207 bps Equity securities 203 Adjusted cost Private financials N/A (d) N/A Total assets $ 1,807 (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. December 31, 2022 (In millions) Fair Value Valuation Technique(s) Unobservable Input Range Weighted Average 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) 102.98 Public utilities 497 Discounted cash flow Credit spreads 128 bps - 286 bps (b) 192 bps Sovereign and supranational 37 Consensus pricing Offered quotes N/A (c) N/A Banks/financial institutions 159 Discounted cash flow Credit spreads 67 bps - 188 bps (b) 113 bps Other corporate 742 Discounted cash flow Credit spreads 66 bps - 647 bps (b) 191 bps Equity securities 209 Adjusted cost Private financials N/A (d) N/A 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 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 3 and 4 and Notes 1, 3 and 4 of the Notes to the Consolidated Financial Statements in the 2022 Annual Report.

DEFERRED POLICY ACQUISITION COS

DEFERRED POLICY ACQUISITION COSTS	9 Months Ended
	Sep. 30, 2023
Insurance [Abstract]
DEFERRED POLICY ACQUISITION COSTS	DEFERRED POLICY ACQUISITION COSTSThe following tables present a rollforward of deferred policy acquisition costs by reporting segment and disaggregated by product type. September 30, 2023 Aflac Japan Aflac U.S. (In millions) Cancer Medical and Other Health Life Insurance Other Accident Disability Critical Care Hospital Indemnity Dental/Vision Life Insurance Other Total Deferred policy acquisition costs: Balance at December 31, 2022 $ 3,035 $ 2,161 $ 525 $ 55 $ 904 $ 613 $ 1,304 $ 418 $ 88 $ 135 $ 1 $ 9,239 Capitalization 247 93 26 7 109 90 122 60 7 43 0 804 Amortization expense (139) (80) (26) (2) (103) (84) (102) (48) (9) (18) 3 (608) Foreign currency translation and (352) (244) (58) (7) 0 0 0 0 0 0 (3) (664) Balance at September 30, 2023 $ 2,791 $ 1,930 $ 467 $ 53 $ 910 $ 619 $ 1,324 $ 430 $ 86 $ 160 $ 1 $ 8,771 December 31, 2022 Aflac Japan Aflac U.S. (In millions) Cancer Medical and Other Health Life Insurance Other Accident Disability Critical Care Hospital Indemnity Dental/Vision Life Insurance Other Total Deferred policy acquisition costs: Balance at December 31, 2021 $ 3,464 $ 2,372 $ 595 $ 51 $ 887 $ 604 $ 1,270 $ 399 $ 90 $ 115 $ 1 $ 9,848 Capitalization 291 161 33 12 147 117 160 80 11 40 0 1,052 Amortization expense (188) (112) (35) (3) (130) (108) (126) (61) (13) (20) 4 (792) Foreign currency translation and (532) (260) (68) (5) 0 0 0 0 0 0 (4) (869) Balance at December 31, 2022 $ 3,035 $ 2,161 $ 525 $ 55 $ 904 $ 613 $ 1,304 $ 418 $ 88 $ 135 $ 1 $ 9,239 The Company uses the following constant level bases to amortize deferred policy acquisition costs: Policy Type Constant-level Basis Life Products (U.S.) Face Amount Health Products (U.S.) Number of Policies in Force Health & Life Products (Japan) Units in Force Face amount is the stated dollar amount that the policy’s beneficiaries receive upon the death of the insured. For life and health products issued in Japan, the constant-level basis used is units in force, which is a proxy for face amount and insurance in force, respectively. Future DAC amortization is impacted by persistency. There were no changes to the inputs or methods used to determine amortization amounts during the nine-month periods ended September 30, 2023 and 2022. The Company updated the assumptions used to determine amortization using the same assumptions as those used for measuring the liability for future policy benefits during the nine-month periods ended September 30, 2023 and 2022. The Company recognizes the effects of changes in assumptions prospectively over the remaining contract term as a revision of the future amortization pattern. See Note 1 for more information on deferred policy acquisition costs.

POLICY LIABILITIES

POLICY LIABILITIES	9 Months Ended
	Sep. 30, 2023
Insurance Loss Reserves [Abstract]
POLICY LIABILITIES	POLICY LIABILITIES Future Policy Benefits The liability for future policy benefits is determined as the present value of expected future benefits to be paid to or on the behalf of policyholders and certain related expenses less the present value of expected future net premiums receivable under the Company's insurance contracts. Future net premiums receivable are future gross premiums receivable under the contract multiplied by the NPR. The following tables present the changes in the present value of expected future net premiums and the present value of expected future policy benefits by reporting segment and disaggregated by product type. The present value of expected future net premiums and the present value of expected future policy benefits are presented gross of internal and external reinsurance. September 30, 2023 Aflac Japan Aflac U.S. (In millions) Cancer Medical and Other Health Life Insurance Other Accident Disability Critical Care Hospital Indemnity Dental/Vision Life Insurance Other Present value of expected future net premiums: Balance at December 31, 2022 $ 19,298 $ 16,714 $ 7,485 $ 1,256 $ 2,534 $ 1,635 $ 4,486 $ 1,220 $ 211 $ 724 $ 110 Beginning balance at original discount rate 18,221 16,195 7,284 1,242 2,760 1,775 5,050 1,365 231 799 118 Effect of changes in cash flow assumptions (166) (473) 44 (12) (16) (51) (494) (142) (9) 61 (9) Effect of actual variances from expected (261) (90) (34) (9) (44) (6) (154) (48) (13) (9) 2 Adjusted beginning of period balance 17,794 15,632 7,294 1,221 2,700 1,718 4,402 1,175 209 851 111 Issuances 770 285 267 19 256 293 397 203 31 137 76 Interest accrual 312 255 94 15 77 46 137 34 6 23 4 Net premiums collected (1) (1,182) (959) (778) (85) (356) (292) (440) (187) (30) (101) (12) Foreign currency translation (2,023) (1,767) (798) (137) 0 0 0 0 0 0 0 Other (1) (1) 0 0 (5) (6) (5) (3) 1 1 8 Ending balance at original discount rate 15,670 13,445 6,079 1,033 2,672 1,759 4,491 1,222 217 911 187 Effect of changes in discount rate assumptions 823 449 171 9 (283) (162) (630) (150) (23) (105) (15) Balance at September 30, 2023 $ 16,493 $ 13,894 $ 6,250 $ 1,042 $ 2,389 $ 1,597 $ 3,861 $ 1,072 $ 194 $ 806 $ 172 Present value of expected future policy benefits: Balance at December 31, 2022 $ 54,766 $ 27,419 $ 31,954 $ 5,582 $ 3,098 $ 2,445 $ 11,489 $ 2,074 $ 488 $ 1,526 $ 622 Beginning balance at original discount rate 47,677 27,566 32,800 5,940 3,391 2,636 12,846 2,300 532 1,778 624 Effect of changes in cash flow assumptions (148) (510) 66 (27) (11) (59) (592) (194) (14) 72 (13) Effect of actual variances from expected (314) (102) (43) (7) (61) (21) (188) (68) (17) (12) 2 Adjusted beginning of period balance 47,215 26,954 32,823 5,906 3,319 2,556 12,066 2,038 501 1,838 613 Issuances 787 295 272 24 265 305 408 211 33 140 76 Interest accrual 1,116 461 472 76 95 72 396 64 15 50 24 Benefit payments (2,245) (883) (1,090) (154) (340) (349) (668) (207) (44) (81) (35) Foreign currency translation (5,327) (3,064) (3,681) (664) 0 0 0 0 0 0 0 Other 0 0 0 0 0 0 1 0 3 5 9 Ending balance at original discount rate 41,546 23,763 28,796 5,188 3,339 2,584 12,203 2,106 508 1,952 687 Effect of changes in discount rate assumptions 5,663 (170) (868) (332) (375) (233) (1,743) (259) (58) (344) (35) Balance at September 30, 2023 47,209 23,593 27,928 4,856 2,964 2,351 10,460 1,847 450 1,608 652 Net liability for future policy benefits 30,716 9,699 21,678 3,814 575 754 6,599 775 256 802 480 Less: reinsurance recoverable 1,952 1,422 0 0 0 0 0 0 0 11 0 Net liability for future policy benefits after $ 28,764 $ 8,277 $ 21,678 $ 3,814 $ 575 $ 754 $ 6,599 $ 775 $ 256 $ 791 $ 480 (1) Net premiums collected represent the portion of gross premiums collected from policyholders that is used to fund expected future benefit payments. December 31, 2022 Aflac Japan Aflac U.S. (In millions) Cancer Medical and Other Health Life Insurance Other Accident Disability Critical Care Hospital Indemnity Dental/Vision Life Insurance Other Present value of expected future net premiums: Balance at December 31, 2021 $ 25,893 $ 21,174 $ 10,847 $ 1,586 $ 3,283 $ 1,862 $ 6,023 $ 1,467 $ 264 $ 834 $ 153 Beginning balance at original discount rate 22,470 18,681 10,064 1,461 2,999 1,760 5,391 1,380 241 780 135 Effect of changes in cash flow assumptions (639) 317 (494) 25 (52) 5 (38) 42 10 (1) (12) Effect of actual variances from expected (284) 61 (81) (10) (152) (43) (421) (111) (20) (16) 6 Adjusted beginning of period balance 21,547 19,059 9,489 1,476 2,795 1,722 4,932 1,311 231 763 129 Issuances 947 639 221 62 355 384 537 273 33 146 0 Interest accrual 459 364 146 22 105 57 193 45 9 27 5 Net premiums collected (1) (1,734) (1,376) (1,229) (123) (496) (382) (612) (261) (42) (131) (17) Foreign currency translation (2,997) (2,488) (1,343) (195) 0 0 0 0 0 0 0 Other (1) (3) 0 0 1 (6) 0 (3) 0 (6) 1 Ending balance at original discount rate 18,221 16,195 7,284 1,242 2,760 1,775 5,050 1,365 231 799 118 Effect of changes in discount rate assumptions 1,077 519 201 14 (226) (140) (564) (145) (20) (75) (8) Balance at December 31, 2022 $ 19,298 $ 16,714 $ 7,485 $ 1,256 $ 2,534 $ 1,635 $ 4,486 $ 1,220 $ 211 $ 724 $ 110 Present value of expected future policy benefits: Balance at December 31, 2021 $ 72,747 $ 36,021 $ 42,720 $ 7,322 $ 3,949 $ 2,871 $ 15,388 $ 2,552 $ 616 $ 1,843 $ 837 Beginning balance at original discount rate 56,807 31,398 39,002 6,787 3,594 2,670 13,079 2,300 549 1,694 645 Effect of changes in cash flow assumptions (721) 352 (550) 96 (70) 5 (43) 40 13 (1) (15) Effect of actual variances from expected (333) 83 (91) (10) (177) (48) (465) (130) (23) (21) 7 Adjusted beginning of period balance 55,753 31,833 38,361 6,873 3,347 2,627 12,571 2,210 539 1,672 637 Issuances 960 646 222 68 364 397 550 282 34 149 0 Interest accrual 1,599 642 670 106 128 94 539 85 21 62 32 Benefit payments (3,050) (1,375) (1,248) (202) (456) (483) (823) (277) (62) (103) (45) Foreign currency translation (7,585) (4,180) (5,205) (905) 0 0 0 0 0 0 0 Other 0 0 0 0 8 1 9 0 0 (2) 0 Ending balance at original discount rate 47,677 27,566 32,800 5,940 3,391 2,636 12,846 2,300 532 1,778 624 Effect of changes in discount rate assumptions 7,089 (147) (846) (358) (293) (191) (1,357) (226) (44) (252) (2) Balance at December 31, 2022 54,766 27,419 31,954 5,582 3,098 2,445 11,489 2,074 488 1,526 622 Net liability for future policy benefits 35,468 10,705 24,469 4,326 564 810 7,003 854 277 802 512 Less: reinsurance recoverable 0 1,579 0 0 0 0 0 0 0 9 0 Net liability for future policy benefits after $ 35,468 $ 9,126 $ 24,469 $ 4,326 $ 564 $ 810 $ 7,003 $ 854 $ 277 $ 793 $ 512 (1) Net premiums collected represent the portion of gross premiums collected from policyholders that is used to fund expected future benefit payments. The following tables present the weighted-average interest rates and weighted-average liability duration (calculated using the original discount rate) by reporting segment and disaggregated by product type. September 30, 2023 Aflac Japan Aflac U.S. Cancer Medical and Other Health Life Insurance Other Accident Disability Critical Care Hospital Indemnity Dental/Vision Life Insurance Other Weighted-average interest, original discount rate (1) 3.9 % 2.6 % 2.1 % 1.8 % 3.9 % 4.2 % 4.6 % 4.4 % 4.3 % 3.7 % 5.4 % Weighted-average interest, current discount rate (1) 1.8 % 2.3 % 1.7 % 2.0 % 5.4 % 5.4 % 5.4 % 5.4 % 5.4 % 5.4 % 5.4 % Weighted-average liability duration (years) 13.1 25.2 16.4 17.5 8.3 5.5 11.3 9.3 8.0 13.9 9.5 (1) The weighted-average interest rates are calculated using the reserve balances as the weights. No adjustments were made to observable market information. December 31, 2022 Aflac Japan Aflac U.S. Cancer Medical and Other Health Life Insurance Other Accident Disability Critical Care Hospital Indemnity Dental/Vision Life Insurance Other Weighted-average interest, original discount rate (1) 4.1 % 2.6 % 2.1 % 1.8 % 3.8 % 4.2 % 4.6 % 4.4 % 4.3 % 3.7 % 5.4 % Weighted-average interest, current discount rate (1) 1.6 % 2.2 % 1.6 % 1.9 % 4.8 % 4.7 % 4.8 % 4.8 % 4.8 % 4.8 % 4.8 % Weighted-average liability duration (years) 13.7 26.9 17.3 18.2 8.5 5.6 12.0 9.4 8.1 13.1 9.6 (1) The weighted-average interest rates are calculated using the reserve balances as the weights. No adjustments were made to observable market information. The following table presents a reconciliation of the disaggregated rollforwards above to the ending future policy benefits presented in the consolidated balance sheets. The deferred profit liability for limited-payment contracts and the deferred profit liability for reinsurance is presented together with the liability for future policy benefits in the consolidated balance sheets and has been included as a reconciling item in the table below. (In millions) September 30, December 31, 2022 Balances included in future policy benefits rollforward: Aflac Japan Cancer $ 30,716 $ 35,468 Medical and other health 9,699 10,705 Life insurance 21,678 24,469 Other 3,814 4,326 Aflac U.S. Accident 575 564 Disability 754 810 Critical care 6,599 7,003 Hospital indemnity 775 854 Dental/vision 256 277 Life insurance 802 802 Other 480 512 Corporate and other 2,375 686 Deferred profit liability - limited-payment contracts 1,669 1,740 Deferred profit liability - reinsurance 590 692 Intercompany eliminations (1) (2,334) (667) Total $ 78,448 $ 88,241 (1) Elimination entry necessary due to the internal reinsurance transaction with Aflac Re and to recapture a portion of policy liabilities ceded externally as a result of the reinsurance retrocession transaction. See Note 8 for additional details. Discount rates are determined using upper-medium grade (low-credit-risk) fixed-income instrument yields that reflect the duration characteristics of the liability. Locked-in discount rates are determined as a weighted average of monthly upper-medium grade (low-credit-risk) fixed-income instrument forward curves, where the weights are the annualized premiums issued for each month of the cohort. Discount rates are updated each reporting period and require estimation techniques (e.g., interpolation, extrapolation) for determination of points on the curve for which there is limited or no observable market data. More specifically, the Company constructs a discount rate curve separately for discounting cash flows used to calculate each of the Japan and U.S. liabilities for future policy benefits, reflective of the characteristics of the corresponding insurance liabilities, such as currency and tenor. In the Aflac Japan segment, all long-duration insurance policies are denominated in yen. A significant portion of policies are characterized by tenors exceeding the availability of liquid market data in Japan for single-A rated (as a proxy for upper-medium grade) corporate yen-denominated debt. The discount rate curve is designed to prioritize the observable inputs where available, while past the last liquid point, the data is derived based on estimation techniques consistent with the fair value guidance in ASC 820. The Aflac Japan segment curve utilizes liquid market indices tracking publicly traded yen-denominated single-A corporate debt for the initial 10-year tenor. For the bonds within these market indices where only local ratings are available, the Company prioritizes the bonds with local ratings that are equivalent to a single-A rating based on international rating standards. For the discount rates applicable to tenors for which the Japan single-A debt market is not liquid but there is sufficient observable market data and/or the observable market data is available for similar instruments (between 10 and 30 years), the Company estimates tenor-specific single-A credit spreads and applies them to risk-free government rates. Lastly, for the tenors where there is limited or no observable single-A or similar market data or risk-free government rates (beyond 30 years), the discount curve is derived by extrapolation of risk free rates beyond their last liquid point following the Smith-Wilson method and grading of the estimated forward credit spread anchored by the ultimate forward rate. The ultimate forward rate is based on the economic value-based solvency regime, which is consistent with the International Association of Insurance Supervisors (IAIS) Insurance Capital Standards (ICS) (which is expected to be introduced in Japan in 2025), and is adjusted for credit and inflation components. For the Aflac U.S. segment where all long-duration insurance policies are denominated in U.S. dollar and substantially all have cash flow duration within 30 years, for which the U.S. upper-medium grade fixed-income market is liquid and observable, the Company uses data from a liquid fixed-income market index tracking single-A U.S. corporate debt. For the insignificant portion of the policies with cash flow tenors exceeding 30 years, the discount curve beyond that tenor is extrapolated following the Smith-Wilson method from year 30 to the same ultimate forward rate calculated for the Japan discount curve at year 60 and held constant thereafter. The use of the same ultimate rate for U.S. and Japan segments is based on the assumption of long-term global economic convergence. For the three-month periods ended September 30, 2023 and 2022, the Company recognized $4.2 billion and $2.4 billion in other comprehensive income (loss) net of tax, respectively, due to changes in the future policy benefits estimate from updating the discount rate assumptions. For the nine-month periods ended September 30, 2023 and 2022, the Company recognized $1.2 billion and $11.8 billion in other comprehensive income (loss) net of tax, respectively, due to changes in the future policy benefits estimate from updating the discount rate assumptions. There were no changes to the methods used to determine the discount rates during the nine-month periods ended September 30, 2023 and 2022. For the year ended December 31, 2022, the Company recognized $13.7 billion in other comprehensive income (loss) net of tax, due to changes in the future policy benefits estimate from updating the discount rate assumptions. There were no changes to the methods used to determine the discount rates during the year ended December 31, 2022. Mortality rate assumptions are based on industry tables and adjusted for the Company's actual or expected experience where credible or appropriate. These assumptions typically will vary by age, gender, and other demographic characteristics such as smoking status. Morbidity assumptions are based on the Company's internal data and consider emerging experience. These assumptions are reflective of the coverage and benefits provided and generally vary by age, gender, duration, and any other material policyholder characteristics. In cases where a calendar-year trend is significant, future cash flow projections may include a trend adjustment. In Japan, separate lapse assumptions are set based on actual or expected experience. These lapse and total termination rate assumptions will vary by line of business and with policyholder characteristics such as duration. In the U.S., the majority of the future cash flows are modeled using total termination rates (which include both lapse and mortality) and are adjusted for actual experience. Policy provisions, such as reaching premium paid-up status, are taken into account when setting assumptions. For the three- and nine-month periods ended September 30, 2023 and 2022, the variance of actual experience from expected experience was primarily due to favorable variances in morbidity assumptions as compared to actual experience. During the three-month periods ended September 30, 2023 and 2022, the Company's adjustment for actual variances from expected experience resulted in reserve remeasurement gains of $54 million and $18 million in the consolidated statements of earnings, respectively. During the nine-month periods ended September 30, 2023 and 2022, the Company's adjustment for actual variances from expected experience resulted in reserve remeasurement gains of $161 million and $77 million in the consolidated statements of earnings, respectively. There were no changes to the inputs or methods used in measuring the liability for future policy benefits during the nine-month periods ended September 30, 2023 and 2022. The Company performs an annual review of its assumptions during the third quarter. In 2023, the Company's annual review process resulted in favorable changes to its morbidity and termination assumptions, largely due to reflecting more recent favorable U.S. morbidity experience. These assumption updates, together with the variance of actual from expected experience, resulted in reserve remeasurement gains of $312 million in the consolidated statement of earnings for the nine-month period ended September 30, 2023. In 2022, the Company's annual review process resulted in favorable changes to its morbidity assumptions due to favorable claims experience, primarily. This, together with the variance of actual experience from expected experience, resulted in reserve remeasurement gains of $215 million in the consolidated statement of earnings for the year ended December 31, 2022. The following table summarizes the amount of net earned premiums recognized in the consolidated statements of earnings by reporting segment and disaggregated by product type. Three Months Ended September 30, Nine Months Ended September 30, (In millions) 2023 2022 2023 2022 Net earned premiums: Aflac Japan Cancer $ 1,004 $ 1,106 $ 3,154 $ 3,640 Medical and other health 640 690 2,018 2,253 Life insurance 371 377 1,183 1,360 Other 38 39 113 124 Aflac U.S. Accident 320 324 973 990 Disability 315 293 941 882 Critical care 436 434 1,317 1,319 Hospital indemnity 180 178 547 546 Dental/vision 53 50 160 148 Life insurance 122 99 351 297 Other 13 9 31 29 Corporate and other 83 35 258 112 Reinsurance ceded (99) (99) (309) (321) Total $ 3,476 $ 3,535 $ 10,737 $ 11,379 The following table summarizes the amount of interest expense related to insurance contracts recognized in total benefits and claims, net in the consolidated statements of earnings by reporting segment and disaggregated by product type. Three Months Ended September 30, Nine Months Ended September 30, (In millions) 2023 2022 2023 2022 Interest expense: Aflac Japan Cancer $ 243 $ 242 $ 804 $ 868 Medical and other health 63 59 206 210 Life insurance 115 112 378 397 Other 19 18 61 63 Aflac U.S. Accident 6 6 18 18 Disability 8 9 26 27 Critical care 86 87 259 259 Hospital indemnity 10 11 30 31 Dental/vision 3 3 9 10 Life insurance 8 9 27 26 Other 7 7 20 20 Total $ 568 $ 563 $ 1,838 $ 1,929 The following tables summarize the amount of undiscounted expected future gross premiums and expected future benefits and expenses and discounted (discounted at the current period discount rate) expected future gross premiums and expected future benefits and expenses by reporting segment and disaggregated by product type. Future gross premiums represent the expected amount of future premiums to be received. For limited-payment policies, the premiums are collected over a shorter period than the policy term over which benefits are provided. As a result, once the policy reaches premium paid-up status, the future gross premiums can be significantly less than the future benefit payments. Further, benefits and expenses are generally greater in the later years of a policy. These are the primary factors that result in future gross premiums lower than future benefit and expense payments for certain lines of business of the Company. September 30, 2023 December 31, 2022 (In millions) Gross Benefits and Expenses Gross Premiums Benefits and Expenses Undiscounted expected future gross premiums Aflac Japan Cancer $ 73,299 $ 82,368 $ 75,529 $ 84,246 Medical and other health 48,031 49,223 50,720 50,778 Life insurance 15,926 52,692 16,946 53,271 Other 2,223 9,249 2,322 9,433 Aflac U.S. Accident 9,246 4,595 9,481 4,636 Disability 5,800 3,215 5,858 3,267 Critical care 20,099 20,748 21,069 22,113 Hospital indemnity 5,005 3,058 5,164 3,338 Dental/vision 1,168 726 1,208 759 Life insurance 2,692 3,208 2,375 2,787 Other 509 1,251 333 1,147 Total $ 183,998 $ 230,333 $ 191,005 $ 235,775 September 30, 2023 December 31, 2022 (In millions) Gross Premiums Benefits and Expenses Gross Premiums Benefits and Expenses Discounted expected future gross premiums Aflac Japan Cancer $ 45,569 $ 47,209 $ 53,278 $ 54,766 Medical and other health 29,117 23,593 34,693 27,419 Life insurance 10,780 27,928 12,951 31,954 Other 1,438 4,856 1,697 5,582 Aflac U.S. Accident 6,144 2,964 6,510 3,098 Disability 4,319 2,351 4,468 2,445 Critical care 11,752 10,460 12,659 11,489 Hospital indemnity 3,301 1,847 3,483 2,074 Dental/vision 768 450 821 488 Life insurance 1,797 1,608 1,663 1,526 Other 316 652 228 622 Total $ 115,301 $ 123,918 $ 132,451 $ 141,463 Loss expense as a result of net premium ratio capping for the three- and nine-month periods ended September 30, 2023 and 2022 was immaterial. Other Policyholders' Funds As of September 30, 2023 and December 31, 2022, 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. The following table presents the changes in other policyholders’ funds. (In millions) September 30, December 31, 2022 Other policyholders' funds: Fixed annuities account balance, beginning of period (1) $ 6,423 $ 7,410 Premiums received 90 150 Transfers from WAYS conversions 162 214 Surrenders and withdrawals (40) (52) Benefit payments (296) (367) Interest credited 37 57 Foreign currency translation and other (724) (989) Fixed annuities account balance, end of period 5,652 6,423 Other deposit type reserves 232 220 Total $ 5,884 $ 6,643 (1) Aflac Japan fixed annuities The following table presents other policyholders’ funds balances by range of guaranteed crediting rates. September 30, 2023 December 31, 2022 (In millions) Range of Guaranteed Minimum Crediting Rates (2) At Guaranteed Minimum Cash Surrender Value Range of Guaranteed Minimum Crediting Rates (2) At Guaranteed Minimum Cash Surrender Value Fixed annuities (1) 0.5% - 2.3% $5,652 $5,564 0.5% - 2.3% $6,423 $6,326 (1) Aflac Japan fixed annuities (2) Weighted-average crediting rate of 1.5% at September 30, 2023 and December 31, 2022. Aflac Japan’s fixed annuities have guaranteed fixed crediting rates which results in the policyholders' funds balances being able to cover all guaranteed benefit amounts. The reserves are adequate to fully fund future benefits at any given time. See Note 1 for additional information on policy liabilities.

REINSURANCE

REINSURANCE	9 Months Ended
	Sep. 30, 2023
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. In January 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. This transaction transferred approximately $2.1 billion of reserves associated with these policies. Approximately $1.9 billion of assets were transferred from ALIJ to Aflac Re as consideration for assuming the reinsurance risk. This internal reinsurance transaction with Aflac Re has no financial statement impact on a consolidated basis, except for the effect of foreign currency accounting. In January 2023, ALIJ also entered into an external coinsurance transaction to cede 1.5% of the liabilities associated with the same cancer insurance policies and riders, in connection with which ALIJ transferred cash consideration to the reinsurer. The Company has recorded a deferred profit liability related to reinsurance transactions. The remaining deferred profit liability of $590 million and $692 million as of September 30, 2023 and December 31, 2022, respectively, is included in future policy benefits in the consolidated balance sheets 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 sheets and had a remaining balance of $895 million and $912 million as of September 30, 2023 and December 31, 2022, respectively. The following table reconciles direct premiums and direct benefits and claims to net amounts after the effect of reinsurance and the elimination of inter-segment amounts associated with affiliated reinsurance. Three Months Ended September 30, Nine Months Ended September 30, (In millions) 2023 2022 2023 2022 Direct earned premiums $ 3,524 $ 3,565 $ 10,885 $ 11,472 Ceded to other companies: Ceded Aflac Japan closed blocks (75) (80) (240) (266) Other (24) (19) (69) (55) Assumed from other companies: Retrocession activities 33 35 96 112 Other 18 34 65 116 Net earned premiums $ 3,476 $ 3,535 $ 10,737 $ 11,379 Direct benefits and claims, excluding reserve remeasurement $ 2,106 $ 2,178 $ 6,545 $ 7,029 Reserve remeasurement (gains) losses (219) (73) (327) (132) Total direct benefits and claims 1,887 2,105 6,218 6,897 Ceded benefits and change in reserves for future benefits: Ceded Aflac Japan closed blocks (71) (72) (222) (237) Reserve remeasurement (gains) losses 14 (20) 15 (20) Eliminations 42 2 125 11 Other (49) (2) (154) (21) Assumed from other companies: Retrocession activities 29 41 90 119 Eliminations (44) (3) (120) (20) Other 52 25 156 104 Total benefits and claims, net $ 1,860 $ 2,076 $ 6,108 $ 6,833 Prior-year amounts have been adjusted for the adoption of accounting guidance on January 1, 2023 related to accounting for long-duration insurance contracts. 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 September 30, 2023. 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 September 30, 2023, the Company has not executed a reinsurance treaty under this committed reinsurance facility.

NOTES PAYABLE AND LEASE OBLIGAT

NOTES PAYABLE AND LEASE OBLIGATIONS	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
NOTES PAYABLE AND LEASE OBLIGATIONS	NOTES PAYABLE AND LEASE OBLIGATIONS A summary of notes payable and lease obligations follows: (In millions) September 30, December 31, 1.125% senior sustainability notes due March 2026 $ 398 $ 397 2.875% senior notes due October 2026 299 298 3.60% senior notes due April 2030 993 992 6.90% senior notes due December 2039 221 221 6.45% senior notes due August 2040 254 254 4.00% senior notes due October 2046 394 394 4.750% senior notes due January 2049 542 541 Yen-denominated senior notes and subordinated debentures: .300% senior notes due September 2025 (principal amount ¥12.4 billion) 83 93 .932% senior notes due January 2027 (principal amount ¥60.0 billion) 400 450 1.075% senior notes due September 2029 (principal amount ¥33.4 billion) 222 250 .500% senior notes due December 2029 (principal amount ¥12.6 billion) 84 95 .550% senior notes due March 2030 (principal amount ¥13.3 billion) 88 99 1.159% senior notes due October 2030 (principal amount ¥29.3 billion) 195 220 .633% senior notes due April 2031 (principal amount ¥30.0 billion) 200 225 .843% senior notes due December 2031 (principal amount ¥9.3 billion) 62 70 .750% senior notes due March 2032 (principal amount ¥20.7 billion) 137 155 1.320% senior notes due December 2032 (principal amount ¥21.1 billion) 140 158 .844% senior notes due April 2033 (principal amount ¥12.0 billion) 80 90 1.488% senior notes due October 2033 (principal amount ¥15.2 billion) 101 114 .934% senior notes due December 2034 (principal amount ¥9.8 billion) 65 73 .830% senior notes due March 2035 (principal amount ¥10.6 billion) 70 79 1.039% senior notes due April 2036 (principal amount ¥10.0 billion) 66 75 1.594% senior notes due September 2037 (principal amount ¥6.5 billion) 42 49 1.750% senior notes due October 2038 (principal amount ¥8.9 billion) 59 66 1.122% senior notes due December 2039 (principal amount ¥6.3 billion) 42 47 1.264% senior notes due April 2041 (principal amount ¥10.0 billion) 66 75 2.108% subordinated debentures due October 2047 (principal amount ¥60.0 billion) 397 448 .963% subordinated bonds due April 2049 (principal amount ¥30.0 billion) 200 226 1.560% senior notes due April 2051 (principal amount ¥20.0 billion) 132 149 2.144% senior notes due September 2052 (principal amount ¥12.0 billion) 79 90 Yen-denominated loans: Variable interest rate loan due August 2027 (.35% in 2023 and .33% in 2022, principal amount ¥11.7 billion) 78 88 Variable interest rate loan due August 2029 (.45% in 2023 and .43% in 2022, principal amount ¥25.3 billion) 169 190 Variable interest rate loan due August 2032 (.60% in 2023 and .58% in 2022, principal amount ¥70.0 billion) 466 524 Finance lease obligations payable through 2030 7 8 Operating lease obligations payable through 2049 130 139 Total notes payable and lease obligations $ 6,961 $ 7,442 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. A summary of the Company's lines of credit as of September 30, 2023 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) Tokyo Interbank Market Rate (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 SOFR for the interest period relevant to such borrowing or (b) the base rate determined by reference to the highest of (1) the lender's USD short-term commercial loan rate and (2) the federal funds rate plus 1/2 of 1% Up to 3 months None General corporate purposes Aflac (1) uncommitted revolving 364 days November 30, 2023 $250 million $0 million Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 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 yen 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 yen 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 8, $25 million $0 million Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 75 basis points per annum No later than None General corporate purposes CAIC (1) uncommitted revolving 364 days March 21, $15 million $0 million Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 75 basis points per annum No later than 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 Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 75 basis points per annum No later than None General corporate purposes Hatch Healthcare K.K. (1) uncommitted revolving 364 days January 3, ¥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, 2024 None General corporate purposes Aflac Digital Services Co., Ltd. (formerly known as Hatch Insight K.K.) (1) uncommitted revolving 364 days January 3, ¥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, 2024 None General corporate purposes Aflac GI Holdings LLC (1) uncommitted revolving 364 days July 16, $30 million $0 million Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 75 basis points per annum No later than None General corporate purposes Aflac Incorporated (1) uncommitted revolving 364 days January 2, $400 million $0 million Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 97 basis points per annum for U.S. dollar denominated borrowings or three-month TIBOR plus 97 basis points per annum for Japanese yen denominated borrowings No later than January 3, 2024 None General corporate purposes Aflac Re Bermuda Ltd. (1) uncommitted revolving 364 days January 2, $400 million $0 million Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 68 basis points per annum for U.S. dollar denominated borrowings or three-month TIBOR plus 68 basis points per annum for Japanese yen denominated borrowings No later than January 3, 2024 None General corporate purposes (1) Intercompany credit agreement The Company was in compliance with all of the covenants of its notes payable and lines of credit at September 30, 2023. No events of default or defaults occurred during the nine-month period ended September 30, 2023. For additional information, see Notes 4 and 9 of the Notes to the Consolidated Financial Statements in the 2022 Annual Report.

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	9 Months Ended
	Sep. 30, 2023
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 nine-month periods ended September 30. (In thousands of shares) 2023 2022 Common stock - issued: Balance, beginning of period 1,354,079 1,352,739 Exercise of stock options and issuance of restricted shares 1,233 1,230 Balance, end of period 1,355,312 1,353,969 Treasury stock: Balance, beginning of period 738,823 700,607 Purchases of treasury stock: Share repurchase program 30,199 30,249 Other 360 354 Dispositions of treasury stock: Shares issued to AFL Stock Plan (707) (787) Exercise of stock options (81) (108) Other (179) (214) Balance, end of period 768,415 730,101 Shares outstanding, end of period 586,897 623,868 Outstanding share-based awards are excluded from the calculation of weighted-average shares used in the computation of basic earnings per share (EPS). The following table presents the approximate number of share-based awards to purchase shares, on a weighted-average basis, that were considered to be anti-dilutive and were excluded from the calculation of diluted EPS for the following periods. Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2023 2022 2023 2022 Anti-dilutive share-based awards 0 53 68 158 Share Repurchase Program During the first nine months of 2023, the Company repurchased 30.2 million shares of its common stock for $2.1 billion as part of its share repurchase program. During the first nine months of 2022, the Company repurchased 30.2 million shares of its common stock for $1.8 billion as part of its share repurchase program. As of September 30, 2023, a remaining balance of 86.4 million shares of the Company's common stock was available for purchase under share repurchase authorizations by its board of directors. Reclassifications from Accumulated Other Comprehensive Income The tables below are reconciliations of accumulated other comprehensive income by component for the following periods. Changes in Accumulated Other Comprehensive Income Three Months Ended September 30, 2023 (In millions) Unrealized Foreign Unrealized Unrealized Effect of Changes in Discount Rate Assumptions Pension Total Balance at June 30, 2023 $ (4,249) $ 1,978 $ (25) $ (5,059) $ 17 $ (7,338) Other comprehensive (235) (2,349) 0 4,193 0 1,609 Amounts reclassified from 0 (32) 1 0 0 (31) Net current-period other (235) (2,381) 1 4,193 0 1,578 Balance at September 30, 2023 $ (4,484) $ (403) $ (24) $ (866) $ 17 $ (5,760) All amounts in the table above are net of tax. Three Months Ended September 30, 2022 (In millions) Unrealized Foreign Unrealized Unrealized Effect of Changes in Discount Rate Assumptions Pension Liability Adjustment Total Balance at June 30, 2022 $ (3,218) $ 2,930 $ (29) $ (6,503) $ (160) $ (6,980) Other comprehensive (1,156) (1,753) (1) 2,428 (4) (486) Amounts reclassified from 0 (46) 1 0 6 (39) Net current-period other (1,156) (1,799) 0 2,428 2 (525) Balance at September 30, 2022 $ (4,374) $ 1,131 $ (29) $ (4,075) $ (158) $ (7,505) All amounts in the table above are net of tax. Prior-year amounts have been adjusted for the adoption of accounting guidance on January 1, 2023 related to accounting for long-duration insurance contracts. Nine Months Ended September 30, 2023 (In millions) Unrealized Foreign Unrealized Unrealized Effect of Changes in Discount Rate Assumptions Pension Total Balance at December 31, 2022 $ (3,564) $ (702) $ (27) $ (2,100) $ (36) $ (6,429) Other comprehensive (920) 398 0 1,234 52 764 Amounts reclassified from 0 (99) 3 0 1 (95) Net current-period other (920) 299 3 1,234 53 669 Balance at September 30, 2023 $ (4,484) $ (403) $ (24) $ (866) $ 17 $ (5,760) All amounts in the table above are net of tax. Prior-year amounts have been adjusted for the adoption of accounting guidance on January 1, 2023 related to accounting for long-duration insurance contracts. Nine Months Ended September 30, 2022 (In millions) Unrealized Foreign Unrealized Unrealized Effect of Changes in Discount Rate Assumptions Pension Liability Adjustment Total Balance at December 31, 2021 $ (1,985) $ 9,602 $ (30) $ (15,832) $ (166) $ (8,411) Other comprehensive (2,389) (8,272) (1) 11,757 (6) 1,089 Amounts reclassified from 0 (199) 2 0 14 (183) Net current-period other (2,389) (8,471) 1 11,757 8 906 Balance at September 30, 2022 $ (4,374) $ 1,131 $ (29) $ (4,075) $ (158) $ (7,505) All amounts in the table above are net of tax. Prior-year amounts have been adjusted for the adoption of accounting guidance on January 1, 2023 related to accounting for long-duration insurance contracts. The tables below summarize the amounts reclassified from each component of accumulated other comprehensive income into net earnings for the following periods. Reclassifications Out of Accumulated Other Comprehensive Income (In millions) Three Months Ended September 30, 2023 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 $ 41 Net investment gains (losses) (9) Tax (expense) or benefit (1) $ 32 Net of tax Unrealized gains (losses) on derivatives $ (1) Net investment gains (losses) 0 Tax (expense) or benefit (1) $ (1) Net of tax Amortization of defined benefit pension items: Actuarial gains (losses) $ 0 Acquisition and operating expenses (2) Prior service (cost) credit 0 Acquisition and operating expenses (2) 0 Tax (expense) or benefit (1) $ 0 Net of tax Total reclassifications for the period $ 31 Net of tax (1) Based on 21% tax rate (2) These accumulated other comprehensive income components are included in the computation of net periodic benefit cost (see Note 12 for additional details). (In millions) Three Months Ended September 30, 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 $ 58 Net investment gains (losses) (12) Tax (expense) or benefit (1) $ 46 Net of tax Unrealized gains (losses) on derivatives $ (1) Net investment gains (losses) 0 Tax (expense) or benefit (1) $ (1) Net of tax Amortization of defined benefit pension items: Actuarial gains (losses) $ (7) Acquisition and operating expenses (2) Prior service (cost) credit 0 Acquisition and operating expenses (2) 1 Tax (expense) or benefit (1) $ (6) Net of tax Total reclassifications for the period $ 39 Net of tax (1) Based on 21% tax rate (2) These accumulated other comprehensive income components are included in the computation of net periodic benefit cost (see Note 12 for additional details). (In millions) Nine Months Ended September 30, 2023 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 $ 125 Net investment gains (losses) (26) Tax (expense) or benefit (1) $ 99 Net of tax Unrealized gains (losses) on derivatives $ (3) Net investment gains (losses) (1) Net investment income (4) Total before tax 1 Tax (expense) or benefit (1) $ (3) Net of tax Amortization of defined benefit pension items: Actuarial gains (losses) $ (1) Acquisition and operating expenses (2) Prior service (cost) credit 0 Acquisition and operating expenses (2) 0 Tax (expense) or benefit (1) $ (1) Net of tax Total reclassifications for the period $ 95 Net of tax (1) Based on 21% tax rate (2) These accumulated other comprehensive income components are included in the computation of net periodic benefit cost (see Note 12 for additional details). (In millions) Nine Months Ended September 30, 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 $ 252 Net investment gains (losses) (53) Tax (expense) or benefit (1) $ 199 Net of tax Unrealized gains (losses) on derivatives $ (3) Net investment gains (losses) 1 Tax (expense) or benefit (1) $ (2) Net of tax Amortization of defined benefit pension items: Actuarial gains (losses) $ (18) Acquisition and operating expenses (2) Prior service (cost) credit 0 Acquisition and operating expenses (2) 4 Tax (expense) or benefit (1) $ (14) Net of tax Total reclassifications for the period $ 183 Net of tax (1) Based on 21% tax rate (2) These accumulated other comprehensive income components are included in the computation of net periodic benefit cost (see Note 12 for additional details).

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	SHARE-BASED COMPENSATIONAs of September 30, 2023, 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 September 30, 2023, approximately 34.7 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 September 30, 2023, 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. The following table provides information on stock options outstanding and exercisable at September 30, 2023. Stock Weighted-Average Aggregate Weighted-Average Outstanding 1,131 2.4 $ 50 $ 32.88 Exercisable 1,131 2.4 50 32.88 The Company received cash from the exercise of stock options in the amount of $13 million during the first nine months of 2023 and 2022. The tax benefit realized as a result of stock option exercises and restricted stock releases was $20 million in the first nine months of 2023, compared with $18 million in the first nine months of 2022. As of September 30, 2023, total compensation cost not yet recognized in the Company's consolidated financial statements related to restricted stock awards and units was $47 million, of which $25 million (1.8 million shares) was related to restricted stock awards and units with a performance-based vesting condition. The Company expects to recognize these amounts over a weighted-average period of approximately 1.6 years. There are no other contractual terms covering restricted stock awards once vested. The following table summarizes restricted stock activity during the nine-month period ended September 30, 2023. (In thousands of shares) Shares Weighted-Average Restricted stock at December 31, 2022 2,414 $ 56.21 Granted in 2023 1,145 70.58 Canceled in 2023 (82) 60.10 Vested in 2023 (1,151) 52.80 Restricted stock at September 30, 2023 2,326 $ 62.77 In February 2023, the Company granted 454 thousand performance-based stock awards and units, 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 and units 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 the risk-free interest rate. Based on estimates of actual performance versus the vesting thresholds, the calculated fair value percentage payout estimate will be updated each quarter. 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. For additional information on the Company's long-term share-based compensation plans and the types of share-based awards, see Note 12 of the Notes to the Consolidated Financial Statements included in the 2022 Annual Report.

BENEFIT PLANS

BENEFIT PLANS	9 Months Ended
	Sep. 30, 2023
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
BENEFIT PLANS	BENEFIT 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. On June 9, 2023, the Company amended the U.S. defined benefit plan to freeze future benefits under the plan for all participants effective January 1, 2024, which resulted in the Company recognizing a curtailment gain of $49 million in the second quarter of 2023. U.S. employees who are not participants in the defined benefit plan currently receive a nonelective 401(k) employer contribution. Effective January 1, 2024, the nonelective 401(k) employer contribution will be extended to U.S. employees who are current participants in the defined benefit plan. 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 Company's Supplemental Executive Retirement Plan was frozen to new participants effective January 1, 2015. On June 9, 2023, the Company amended the Supplemental Executive Retirement Plan and the Retirement Plan for Senior Officers to freeze future benefits under these plans for all participants effective January 1, 2024. 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. Pension and other postretirement benefit expenses are included in acquisition and operating expenses in the consolidated statements of earnings, which includes other components of net periodic pension cost and postretirement costs (other than service costs) of $2 million and $5 million for the three-month periods and $(41) million and $11 million for the nine-month periods ended September 30, 2023 and 2022, respectively. Total net periodic benefit cost includes the following components: Three Months Ended September 30, Pension Benefits Other Japan U.S. Postretirement Benefits (In millions) 2023 2022 2023 2022 2023 2022 Components of net periodic Service cost $ 4 $ 5 $ 0 $ 6 $ 0 $ 0 Interest cost 2 1 10 9 0 1 Expected return on plan assets (2) (2) (8) (11) 0 0 Amortization of net actuarial loss 0 0 0 6 0 1 Curtailment (gain) loss 0 0 0 0 0 0 Net periodic (benefit) cost $ 4 $ 4 $ 2 $ 10 $ 0 $ 2 Nine Months Ended September 30, Pension Benefits Other Japan U.S. Postretirement Benefits (In millions) 2023 2022 2023 2022 2023 2022 Components of net periodic Service cost $ 11 $ 15 $ 7 $ 19 $ 0 $ 0 Interest cost 6 4 31 26 1 1 Expected return on plan assets (5) (6) (26) (32) 0 0 Amortization of net actuarial loss 0 0 0 16 1 2 Curtailment (gain) loss 0 0 (49) 0 0 0 Net periodic (benefit) cost $ 12 $ 13 $ (37) $ 29 $ 2 $ 3 During the nine months ended September 30, 2023, Aflac Japan contributed approximately $19 million (using the weighted-average yen/dollar exchange rate for the nine-month period ended September 30, 2023) to the Japanese funded defined benefit plan, and Aflac U.S. did not make a contribution to the U.S. funded defined benefit plan. For additional information regarding the Company's Japanese and U.S. benefit plans, see Note 14 of the Notes to the Consolidated Financial Statements in the 2022 Annual Report.

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	COMMITMENTS AND CONTINGENT LIABILITIES In February 2023, the Company renewed an outsourcing agreement with a management consulting and technology services company to provide application maintenance and development services for Aflac Japan. As of September 30, 2023, the agreement has a remaining term of five years and an aggregate remaining cost of ¥19.2 billion ($128 million using the September 30, 2023 exchange rate). The Company is a defendant in various lawsuits and receives various regulatory inquiries considered to be in the normal course of business. Members of the Company's senior legal and financial management teams review litigation and regulatory inquiries on a quarterly and annual basis. The final results of any litigation or regulatory inquiries 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 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. Guaranty fund assessments for the three- and nine-month periods ended September 30, 2023 and 2022 were immaterial.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS In October 2023, the Company received BMA approval for Aflac Re and ALIJ to enter into a coinsurance transaction whereby ALIJ will cede 30% of the liabilities associated with certain cancer insurance policies and riders to Aflac Re. The Company intends to execute this transaction in the fourth quarter of 2023. This transaction is expected to transfer approximately ¥286 billion of reserves associated with these policies and is expected to also involve the transfer of assets by ALIJ to Aflac Re to support these reserves. This internal reinsurance transaction will have no financial statement impact on a consolidated basis, except for the effect of foreign currency accounting.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	Description of Business Aflac Incorporated (the Parent Company) and its subsidiaries (collectively, the Company) primarily sell supplemental health and life insurance in the United States (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) 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. 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. Aflac Japan's revenues, including net gains and losses on its investment portfolio, accounted for 63% and 72% of the Company's total revenues in the nine-month periods ended September 30, 2023 and 2022, respectively. The percentage of the Company's total assets attributable to Aflac Japan was 79% at September 30, 2023, compared with 80% at December 31, 2022. In 2022, the Company established Aflac Re Bermuda Ltd. (Aflac Re), a Bermuda domiciled insurer that reinsures certain policies issued by ALIJ. Aflac Re 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. Financial results from Aflac Re are included in Corporate and other. 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 income taxes. These accounting estimates and actuarial determinations are sensitive to market conditions, investment yields, interest rates, 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 the consolidated financial statements. 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 unaudited consolidated financial statements include the accounts of the Parent Company, its subsidiaries and those entities required to be consolidated under applicable accounting standards. All material intercompany accounts and transactions have been eliminated. In the opinion of management, the accompanying unaudited consolidated financial statements of the Company contain all adjustments, consisting of normal recurring accruals, which are necessary to fairly present the consolidated balance sheets as of September 30, 2023 and December 31, 2022, the consolidated statements of earnings and comprehensive income (loss) for the three- and nine-month periods ended September 30, 2023 and 2022, the consolidated statements of shareholders' equity for the three-month periods ended March 31, 2023 and 2022, June 30, 2023 and 2022, and September 30, 2023 and 2022, and the consolidated statements of cash flows for the nine-month periods ended September 30, 2023 and 2022. Results of operations for interim periods are not necessarily indicative of results for the entire year. As a result, these financial statements should be read in conjunction with the financial statements and notes
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, supplemental dental and 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. This association is accomplished by means of annual increases or decreases to the liability for future policy benefits (LFPB) 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 contract term (i.e., the period during which benefits are provided). Premiums for these products are recognized as earned premiums over the premium-paying periods when due from policyholders. Any gross premium in excess of the net premium is deferred and recorded as a deferred profit liability, which is subsequently amortized in net earned premiums such that profits are recognized in a constant relationship with insurance in force. Benefits are recorded as an expense when they are incurred. An LFPB is recorded when premiums are recognized using the net premium method. Policyholders also have an option to pay discounted advanced premiums for certain of the Company's products. Advanced premiums are deferred and recognized when due from policyholders over the otherwise required contractual premium payment period. Benefit expense is bifurcated between benefits and claims and reserve remeasurement (gains) losses. The net premium ratio (NPR) is used to measure benefit expense and is calculated as the ratio of the present value of actual and future expected benefits and expenses to the present value of actual and future expected gross premiums. A revised NPR is calculated as of the beginning of each reporting period using updated future cash flow expectations. Reserve remeasurement (gains) losses represent the difference between two reserve measures both calculated as of the beginning of the current reporting period using the same locked-in discount rates. One reserve measure uses the NPR as of the end of the prior reporting period, and the second uses the revised NPR. Benefits and claims represent the difference in the liability balance calculated as of the beginning of the current reporting period and the end of the current reporting period both using the revised NPR and the locked-in discount rates. The locked-in interest accretion rate utilized for accretion of interest expense on insurance reserves is the original discount rate used at contract issue date.
Advertising Cost	Advertising expense is reported as incurred in insurance and other expenses in the consolidated statements of earnings.
Deferred Policy Acquisition Costs	Deferred Policy Acquisition Costs : Certain direct and incremental costs of acquiring insurance contracts are deferred and amortized on a grouped-contract basis over the expected term of the related contracts, using a constant-level basis. For life and health products issued in Japan, the constant-level basis used is units in force, which is a proxy for face amount, and insurance in force, respectively. For life and health products issued in the U.S., the constant-level basis used is face amount and number of policies in force, respectively. Amortization is computed using the same contract groupings (also referred to as cohorts) and mortality and termination assumptions that are used in computing the LFPB, and these assumptions are reviewed and updated at least annually. The effects of changes in assumptions are recognized prospectively over the remaining contract term as a revision of the future amortization pattern, while current period amortization is calculated based on the actual experience during the quarter. Deferred costs include the excess of current-year commissions over ultimate renewal-year commissions and certain incremental direct policy issue, underwriting and sales expenses 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 cohort, 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, the policy is treated as lapsed for amortization purposes, 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.
Liability for Future Policy Benefits	Policy Liabilities : For long-duration insurance contracts, the Company calculates an integrated reserve that represents all payments under the contract including future expected claims and unpaid policy claims and related expenses. The liability for future policy benefits is measured using the net level premium method. Long-duration insurance contracts issued by the Company are grouped into annual calendar-year cohorts based on the contract issue date, reportable segment, legal entity and product type. Limited-pay contracts are grouped into separate cohorts from other traditional products in the same manner and are further separated based on their premium payment structures. The LFPB is determined as the present value of expected future policy benefits to be paid to or on the behalf of policyholders and certain related expenses less the present value of expected future net premiums receivable under the Company’s insurance contracts, where expected future net premiums receivable are future gross premiums receivable under the contract multiplied by the NPR. Future policy benefits are calculated using assumptions and estimates including mortality, morbidity, termination (also referred to as lapses), expense and discount rates. The assumptions and estimates that the Company uses depend on its judgment regarding the likelihood of future events and are inherently uncertain. Cash flow assumptions (mortality, morbidity, and termination) are established at policy inception and are evaluated each quarter to determine if an update is needed. To facilitate a more detailed review of cash flow assumptions, experience studies are performed annually during the third quarter. Changes in cash flow assumptions are the result of applying the updated best estimate assumptions as of the beginning of the reporting period and are recognized in reserve remeasurement (gains) losses in the consolidated statements of earnings. Expense assumptions are established at policy inception and determined for each issue-year cohort as a percentage of paid claims. These expense assumptions are locked-in and remain unchanged over the term of the insurance policy. Actual experience is reflected in the calculation of future policy benefits each quarter, and changes in the liability due to actual experience are recognized in reserve remeasurement (gains) losses in the consolidated statements of earnings. Discount rates used to calculate net premiums are locked in at policy inception and represent the basis to recognize interest expense in the consolidated statements of earnings. Discount rates used to measure the carrying value of the LFPB in the consolidated balance sheets are updated each reporting period, and the difference between the liability balances calculated using the locked-in discount rates and the updated discount rates is recognized in accumulated other comprehensive income (loss) (AOCI). The Company has designed its discount rate methodology for 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 LFPBs, reflective of the characteristics of the insurance liabilities, such as currency and tenor. 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. The locked-in discount rate used for the computation of interest accretion on LFPBs is determined separately 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 in 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 is determined by solving for a rate that produces an equivalent net premium ratio to the forward curve and will remain unchanged after the calendar year of issue.
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	The 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. The policy reserves are evaluated based on the new policy features, and changes are recognized at the date of contract change/modification. For internal replacements that are substantially unchanged, no changes to the reserves are recognized. For modifications that are not integrated with the base policy, new coverage is recognized as a separately issued contract within the current cohort.
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.
New Accounting Pronouncements	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 significantly changed how insurers account for long-duration contracts. The Company adopted the standard on January 1, 2023 using a modified retrospective transition method which resulted in applying the amended guidance as of the beginning of the earliest period presented 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 calculated the ratio of the present value of expected future benefits and expenses less existing carrying values to the present value of expected future gross premiums (Transition Date NPR) using updated assumptions and the discount rate immediately before the Transition Date. The Company capped the Transition Date NPR at 100% for any cohorts with a Transition Date NPR greater than 100%. The Company calculated the LFPB using the Transition Date NPR (capped at 100% if required) and 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 Transition Date NPR capped at 100%, the Company recorded as an adjustment (decrease) to opening retained earnings 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. For all cohorts on the Transition Date, the Company recorded in AOCI net of tax, 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). Upon adoption, the Company adjusted opening equity for the Transition Date impacts to AOCI and retained earnings and adjusted prior periods presented (years 2021 and 2022) following the updated standard. Based upon the modified retrospective transition method, the Transition Date impact from adoption resulted in a decrease in AOCI of approximately $18.6 billion and a decrease in retained earnings (RE) of approximately $0.3 billion. See Note 6 and Note 7 for expanded disclosures for DAC and future policy benefits, respectively, required as a result of the amended guidance. Transition Impact to Shareholder's Equity The following table presents the cumulative transition impact as of January 1, 2021 to the Company’s Shareholder’s Equity as a result of the adoption of ASU 2018-12, using the modified retrospective transition method. (In millions - Unaudited) Common Stock Additional Paid-in Capital Retained Earnings Accumulated Other Comprehensive Income (Loss) Treasury Stock Total Shareholders' Balance at December 31, 2020 $ 135 $ 2,410 $ 37,984 $ 8,934 $ (15,904) $ 33,559 Cumulative effect of change in accounting 0 0 (324) (18,570) 0 (18,894) Balance at January 1, 2021 $ 135 $ 2,410 $ 37,660 $ (9,636) $ (15,904) $ 14,665 The following table presents the transition impacts as of January 1, 2021 to the Company's AOCI and RE as a result of the adoption of ASU 2018-12 by reporting segment and disaggregated by product type, using the modified retrospective transition method. (In millions - Unaudited) Impact to Retained Impact to Transition impacts: Aflac Japan Cancer $ 0 $ 14,529 Medical and other health 1 2,382 Life insurance 0 3,314 Other (1) 398 433 Aflac U.S. Accident 0 92 Disability 0 149 Critical care 4 2,258 Hospital indemnity 0 223 Dental/vision 0 65 Life insurance 5 149 Other 2 218 Reinsurance 0 (305) Transition impact before income taxes 410 23,507 Less: income taxes 86 4,937 Total transition impact, net of income taxes $ 324 $ 18,570 (1) Impact to retained earnings is driven primarily by capping the Transition Date NPR on Care products. Transition Impact on the Liability for Future Policy Benefits The Company adopted ASU 2018-12 using the modified retrospective transition method. The tables below present the disaggregated transition impacts to the Company’s LFPB as a result of adoption, split between the changes in the present value of expected future net premiums and the present value of expected future policy benefits as of the Transition Date and the LFPB rollforward for the year ended December 31, 2021. The locked-in discount rates on the policies held at the Transition Date reflect the locked-in rates in existence immediately before the Transition Date. See Note 7 for additional information. Under the modified retrospective transition method, the NPR for future policy benefits existing as of the Transition Date considers the carryover basis of those liabilities, which equals the future policy benefits and unpaid policy claims balance as of December 31, 2020. If the revised Transition Date NPR for a cohort is greater than 100%, the Company capped the Transition Date NPR at 100% and increased the LFPB with an offsetting decrease to opening retained earnings. The LFPB recorded in the consolidated balance sheets includes the deferred profit liability for limited-payment contracts. This deferred profit liability is not included in the Transition Date and LFPB rollforwards. For products with limited-payment features, to the extent the transition date adjustment related to updating cash flow assumptions is favorable, the Company increased the deferred profit liability. The following table presents the transition impacts to the present value of expected future net premiums, gross of internal and external reinsurance, by reporting segment and disaggregated by product type due to the cumulative effect of the change in accounting principle as a result of the adoption of ASU 2018-12 using the modified retrospective transition method. Transition Impact at January 1, 2021 Aflac Japan Aflac U.S. (In millions) Cancer Medical and Other Health Life Insurance Other Accident Disability Critical Care Hospital Indemnity Dental/Vision Life Insurance Other Present value of expected future net premiums: Balance at December 31, 2020 $ 25,601 $ 21,270 $ 12,440 $ 2,080 $ 3,350 $ 1,921 $ 5,898 $ 1,376 $ 281 $ 710 $ 154 Impact to retained earnings from capping Transition Date NPR 0 (1) 0 (398) 0 0 (4) 0 0 (5) (2) Impact of deferred profit liability 15 7 36 26 0 0 0 0 0 0 0 Beginning balance at original discount rate 25,616 21,276 12,476 1,708 3,350 1,921 5,894 1,376 281 705 152 Effect of change in discount rate assumptions 3,982 2,598 908 148 479 197 1,048 154 41 78 27 Balance at January 1, 2021 $ 29,598 $ 23,874 $ 13,384 $ 1,856 $ 3,829 $ 2,118 $ 6,942 $ 1,530 $ 322 $ 783 $ 179 The following table presents the changes in the present value of expected future net premiums, gross of internal and external reinsurance, by reporting segment and disaggregated by product type for the year ended December 31, 2021. December 31, 2021 Aflac Japan Aflac U.S. (In millions) Cancer Medical and Other Health Life Insurance Other Accident Disability Critical Care Hospital Indemnity Dental/Vision Life Insurance Other Present value of expected future net premiums: Balance at January 1, 2021 $ 29,598 $ 23,874 $ 13,384 $ 1,856 $ 3,829 $ 2,118 $ 6,942 $ 1,530 $ 322 $ 783 $ 179 Beginning balance at original discount rate (1) 25,616 21,276 12,476 1,708 3,350 1,921 5,894 1,376 281 705 152 Effect of changes in cash flow assumptions 32 88 40 1 (163) (129) (302) 0 (26) 31 0 Effect of actual variances from expected (134) (449) (135) (11) (109) (38) (290) (32) (14) 34 (3) Adjusted beginning of period balance 25,514 20,915 12,381 1,698 3,078 1,754 5,302 1,344 241 770 149 Issuances 1,116 1,132 284 55 365 345 552 263 39 112 0 Interest accrual 586 439 202 27 116 61 210 45 10 25 6 Net premiums collected (2) (2,206) (1,692) (1,609) (151) (552) (393) (665) (268) (47) (124) (19) Foreign currency translation (2,539) (2,111) (1,194) (167) 0 0 0 0 0 0 0 Other (1) (2) 0 (1) (8) (7) (8) (4) (2) (3) (1) Ending balance at original discount rate 22,470 18,681 10,064 1,461 2,999 1,760 5,391 1,380 241 780 135 Effect of changes in discount rate assumptions 3,423 2,493 783 125 284 102 632 87 23 54 18 Balance at December 31, 2021 $ 25,893 $ 21,174 $ 10,847 $ 1,586 $ 3,283 $ 1,862 $ 6,023 $ 1,467 $ 264 $ 834 $ 153 (1) Includes the adjustment for capping the Transition Date NPR. (2) Net premiums collected represent the portion of gross premiums collected from policyholders that is used to fund expected future benefit payments. The following table presents the transition impacts to the present value of expected future policy benefits by reporting segment and disaggregated by product type due to the cumulative effect of the change in accounting principle as a result of the adoption of ASU 2018-12 using the modified retrospective transition method. Transition Impact at January 1, 2021 Aflac Japan Aflac U.S. (In millions) Cancer Medical and Other Health Life Insurance Other Accident Disability Critical Care Hospital Indemnity Dental/Vision Life Insurance Other Present value of expected future policy benefits: Balance at December 31, 2020 $ 64,056 $ 34,638 $ 43,729 $ 7,620 $ 3,818 $ 2,919 $ 13,427 $ 2,258 $ 599 $ 1,562 $ 661 Effect of change in discount rate assumptions 18,511 4,980 4,222 581 571 346 3,306 377 106 227 245 Balance at January 1, 2021 $ 82,567 $ 39,618 $ 47,951 $ 8,201 $ 4,389 $ 3,265 $ 16,733 $ 2,635 $ 705 $ 1,789 $ 906 The following table presents the changes in the present value of expected future policy benefits by reporting segment and disaggregated by product type for the year ended December 31, 2021. December 31, 2021 Aflac Japan Aflac U.S. (In millions) Cancer Medical and Other Health Life Insurance Other Accident Disability Critical Care Hospital Indemnity Dental/Vision Life Insurance Other Present value of expected future policy benefits: Balance at January 1, 2021 $ 82,567 $ 39,618 $ 47,951 $ 8,201 $ 4,389 $ 3,265 $ 16,733 $ 2,635 $ 705 $ 1,789 $ 906 Beginning balance at original discount rate 64,056 34,638 43,729 7,620 3,818 2,919 13,427 2,258 599 1,562 661 Effect of changes in cash flow assumptions 24 85 31 (11) (178) (143) (326) (3) (29) 31 0 Effect of actual variances from expected (149) (458) (139) (15) (115) (41) (304) (36) (15) 34 (3) Adjusted beginning of period balance 63,931 34,265 43,621 7,594 3,525 2,735 12,797 2,219 555 1,627 658 Issuances 1,133 1,155 287 62 372 355 563 271 40 115 0 Interest accrual 2,014 769 833 129 137 100 553 85 23 58 33 Benefit payments (3,894) (1,313) (1,373) (238) (439) (520) (834) (275) (69) (107) (46) Foreign currency translation (6,377) (3,478) (4,366) (760) 0 0 0 0 0 0 0 Other 0 0 0 0 (1) 0 0 0 0 1 0 Ending balance at original discount rate 56,807 31,398 39,002 6,787 3,594 2,670 13,079 2,300 549 1,694 645 Effect of changes in discount rate assumptions 15,940 4,623 3,718 535 355 201 2,309 252 67 149 192 Balance at December 31, 2021 72,747 36,021 42,720 7,322 3,949 2,871 15,388 2,552 616 1,843 837 Net liability for future policy benefits 46,854 14,847 31,873 5,736 666 1,009 9,365 1,085 352 1,009 684 Less: reinsurance recoverable 0 2,150 0 0 0 0 0 0 0 10 0 Net liability for future policy benefits after $ 46,854 $ 12,697 $ 31,873 $ 5,736 $ 666 $ 1,009 $ 9,365 $ 1,085 $ 352 $ 999 $ 684 The following table presents a reconciliation of the rollforwards by reporting segment and disaggregated by product type for the year ended December 31, 2021 to the liability for future policy benefits as of December 31, 2021 under the amended guidance. The deferred profit liability for limited-payment contracts and reinsurance is presented together with the LFPB in the consolidated balance sheets and has been included as a reconciling item in the table below. (In millions) December 31, Balances included in future policy benefits rollforward: Aflac Japan Cancer $ 46,854 Medical and other health 14,847 Life insurance 31,873 Other 5,736 Aflac U.S. Accident 666 Disability 1,009 Critical care 9,365 Hospital indemnity 1,085 Dental/vision 352 Life insurance 1,009 Other 684 Corporate and other 30 Deferred profit liability - limited-payment contracts 1,595 Deferred profit liability - reinsurance 859 Total $ 115,964 The adoption of ASU 2018-12 did not have an impact on the Company's balance for deferred policy acquisition costs upon adoption. ASU 2023-02 Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method In March 2023, the FASB issued amendments to permit reporting entities to elect to account for their tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the income tax credits and other income tax benefits received and recognizes the net amortization and income tax credits and other income tax benefits in the income statement as a component of income tax expense (benefit). The Company early adopted this guidance on July 1, 2023. The adoption of this guidance did not have a significant impact on the Company's financial position, results of operations or disclosures. Accounting Pronouncements Pending Adoption There are no accounting pronouncements pending adoption that are relevant to or have an impact on the Company's financial statements. Recent accounting guidance not discussed above is not applicable, did not have, or is not expected to have a material impact to the Company's business. For additional information on new accounting pronouncements and recent accounting guidance and their impact, if any, on the Company's financial position, results of operations or disclosures, see Note 1 of the Notes to the Consolidated Financial Statements in the 2022 Annual Report.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) - Accounting Standards Update 2018-12	9 Months Ended
	Sep. 30, 2023
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Schedule of Impact from Adoption to Shareholder's Equity	The following table presents the cumulative transition impact as of January 1, 2021 to the Company’s Shareholder’s Equity as a result of the adoption of ASU 2018-12, using the modified retrospective transition method. (In millions - Unaudited) Common Stock Additional Paid-in Capital Retained Earnings Accumulated Other Comprehensive Income (Loss) Treasury Stock Total Shareholders' Balance at December 31, 2020 $ 135 $ 2,410 $ 37,984 $ 8,934 $ (15,904) $ 33,559 Cumulative effect of change in accounting 0 0 (324) (18,570) 0 (18,894) Balance at January 1, 2021 $ 135 $ 2,410 $ 37,660 $ (9,636) $ (15,904) $ 14,665
Schedule of Impact from Adoption to AOCI and Retained Earnings	The following table presents the transition impacts as of January 1, 2021 to the Company's AOCI and RE as a result of the adoption of ASU 2018-12 by reporting segment and disaggregated by product type, using the modified retrospective transition method. (In millions - Unaudited) Impact to Retained Impact to Transition impacts: Aflac Japan Cancer $ 0 $ 14,529 Medical and other health 1 2,382 Life insurance 0 3,314 Other (1) 398 433 Aflac U.S. Accident 0 92 Disability 0 149 Critical care 4 2,258 Hospital indemnity 0 223 Dental/vision 0 65 Life insurance 5 149 Other 2 218 Reinsurance 0 (305) Transition impact before income taxes 410 23,507 Less: income taxes 86 4,937 Total transition impact, net of income taxes $ 324 $ 18,570 (1) Impact to retained earnings is driven primarily by capping the Transition Date NPR on Care products.
Schedule of Impact from Adoption to Liability For Future Policy Benefit, Expected Net Premium	The following table presents the transition impacts to the present value of expected future net premiums, gross of internal and external reinsurance, by reporting segment and disaggregated by product type due to the cumulative effect of the change in accounting principle as a result of the adoption of ASU 2018-12 using the modified retrospective transition method. Transition Impact at January 1, 2021 Aflac Japan Aflac U.S. (In millions) Cancer Medical and Other Health Life Insurance Other Accident Disability Critical Care Hospital Indemnity Dental/Vision Life Insurance Other Present value of expected future net premiums: Balance at December 31, 2020 $ 25,601 $ 21,270 $ 12,440 $ 2,080 $ 3,350 $ 1,921 $ 5,898 $ 1,376 $ 281 $ 710 $ 154 Impact to retained earnings from capping Transition Date NPR 0 (1) 0 (398) 0 0 (4) 0 0 (5) (2) Impact of deferred profit liability 15 7 36 26 0 0 0 0 0 0 0 Beginning balance at original discount rate 25,616 21,276 12,476 1,708 3,350 1,921 5,894 1,376 281 705 152 Effect of change in discount rate assumptions 3,982 2,598 908 148 479 197 1,048 154 41 78 27 Balance at January 1, 2021 $ 29,598 $ 23,874 $ 13,384 $ 1,856 $ 3,829 $ 2,118 $ 6,942 $ 1,530 $ 322 $ 783 $ 179
Liability for Future Policy Benefit, Expected Net Premium, Activity	The following table presents the changes in the present value of expected future net premiums, gross of internal and external reinsurance, by reporting segment and disaggregated by product type for the year ended December 31, 2021. December 31, 2021 Aflac Japan Aflac U.S. (In millions) Cancer Medical and Other Health Life Insurance Other Accident Disability Critical Care Hospital Indemnity Dental/Vision Life Insurance Other Present value of expected future net premiums: Balance at January 1, 2021 $ 29,598 $ 23,874 $ 13,384 $ 1,856 $ 3,829 $ 2,118 $ 6,942 $ 1,530 $ 322 $ 783 $ 179 Beginning balance at original discount rate (1) 25,616 21,276 12,476 1,708 3,350 1,921 5,894 1,376 281 705 152 Effect of changes in cash flow assumptions 32 88 40 1 (163) (129) (302) 0 (26) 31 0 Effect of actual variances from expected (134) (449) (135) (11) (109) (38) (290) (32) (14) 34 (3) Adjusted beginning of period balance 25,514 20,915 12,381 1,698 3,078 1,754 5,302 1,344 241 770 149 Issuances 1,116 1,132 284 55 365 345 552 263 39 112 0 Interest accrual 586 439 202 27 116 61 210 45 10 25 6 Net premiums collected (2) (2,206) (1,692) (1,609) (151) (552) (393) (665) (268) (47) (124) (19) Foreign currency translation (2,539) (2,111) (1,194) (167) 0 0 0 0 0 0 0 Other (1) (2) 0 (1) (8) (7) (8) (4) (2) (3) (1) Ending balance at original discount rate 22,470 18,681 10,064 1,461 2,999 1,760 5,391 1,380 241 780 135 Effect of changes in discount rate assumptions 3,423 2,493 783 125 284 102 632 87 23 54 18 Balance at December 31, 2021 $ 25,893 $ 21,174 $ 10,847 $ 1,586 $ 3,283 $ 1,862 $ 6,023 $ 1,467 $ 264 $ 834 $ 153 (1) Includes the adjustment for capping the Transition Date NPR. (2) Net premiums collected represent the portion of gross premiums collected from policyholders that is used to fund expected future benefit payments.
Schedule of Impact from Adoption to Liability For Future Policy Benefit, Expected Future Policy Benefits	The following table presents the transition impacts to the present value of expected future policy benefits by reporting segment and disaggregated by product type due to the cumulative effect of the change in accounting principle as a result of the adoption of ASU 2018-12 using the modified retrospective transition method. Transition Impact at January 1, 2021 Aflac Japan Aflac U.S. (In millions) Cancer Medical and Other Health Life Insurance Other Accident Disability Critical Care Hospital Indemnity Dental/Vision Life Insurance Other Present value of expected future policy benefits: Balance at December 31, 2020 $ 64,056 $ 34,638 $ 43,729 $ 7,620 $ 3,818 $ 2,919 $ 13,427 $ 2,258 $ 599 $ 1,562 $ 661 Effect of change in discount rate assumptions 18,511 4,980 4,222 581 571 346 3,306 377 106 227 245 Balance at January 1, 2021 $ 82,567 $ 39,618 $ 47,951 $ 8,201 $ 4,389 $ 3,265 $ 16,733 $ 2,635 $ 705 $ 1,789 $ 906
Liability for Future Policy Benefit, Expected Future Policy Benefits, Activity	The following table presents the changes in the present value of expected future policy benefits by reporting segment and disaggregated by product type for the year ended December 31, 2021. December 31, 2021 Aflac Japan Aflac U.S. (In millions) Cancer Medical and Other Health Life Insurance Other Accident Disability Critical Care Hospital Indemnity Dental/Vision Life Insurance Other Present value of expected future policy benefits: Balance at January 1, 2021 $ 82,567 $ 39,618 $ 47,951 $ 8,201 $ 4,389 $ 3,265 $ 16,733 $ 2,635 $ 705 $ 1,789 $ 906 Beginning balance at original discount rate 64,056 34,638 43,729 7,620 3,818 2,919 13,427 2,258 599 1,562 661 Effect of changes in cash flow assumptions 24 85 31 (11) (178) (143) (326) (3) (29) 31 0 Effect of actual variances from expected (149) (458) (139) (15) (115) (41) (304) (36) (15) 34 (3) Adjusted beginning of period balance 63,931 34,265 43,621 7,594 3,525 2,735 12,797 2,219 555 1,627 658 Issuances 1,133 1,155 287 62 372 355 563 271 40 115 0 Interest accrual 2,014 769 833 129 137 100 553 85 23 58 33 Benefit payments (3,894) (1,313) (1,373) (238) (439) (520) (834) (275) (69) (107) (46) Foreign currency translation (6,377) (3,478) (4,366) (760) 0 0 0 0 0 0 0 Other 0 0 0 0 (1) 0 0 0 0 1 0 Ending balance at original discount rate 56,807 31,398 39,002 6,787 3,594 2,670 13,079 2,300 549 1,694 645 Effect of changes in discount rate assumptions 15,940 4,623 3,718 535 355 201 2,309 252 67 149 192 Balance at December 31, 2021 72,747 36,021 42,720 7,322 3,949 2,871 15,388 2,552 616 1,843 837 Net liability for future policy benefits 46,854 14,847 31,873 5,736 666 1,009 9,365 1,085 352 1,009 684 Less: reinsurance recoverable 0 2,150 0 0 0 0 0 0 0 10 0 Net liability for future policy benefits after $ 46,854 $ 12,697 $ 31,873 $ 5,736 $ 666 $ 1,009 $ 9,365 $ 1,085 $ 352 $ 999 $ 684
Reconciliation of Future Policy Benefits	The following table presents a reconciliation of the rollforwards by reporting segment and disaggregated by product type for the year ended December 31, 2021 to the liability for future policy benefits as of December 31, 2021 under the amended guidance. The deferred profit liability for limited-payment contracts and reinsurance is presented together with the LFPB in the consolidated balance sheets and has been included as a reconciling item in the table below. (In millions) December 31, Balances included in future policy benefits rollforward: Aflac Japan Cancer $ 46,854 Medical and other health 14,847 Life insurance 31,873 Other 5,736 Aflac U.S. Accident 666 Disability 1,009 Critical care 9,365 Hospital indemnity 1,085 Dental/vision 352 Life insurance 1,009 Other 684 Corporate and other 30 Deferred profit liability - limited-payment contracts 1,595 Deferred profit liability - reinsurance 859 Total $ 115,964

BUSINESS SEGMENT INFORMATION (T

BUSINESS SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Reconciliation of Revenue from Segments to Consolidated	Information regarding operations by reportable segment and Corporate and other, follows: Three Months Ended September 30, Nine Months Ended September 30, (In millions) 2023 2022 2023 2022 Revenues: Aflac Japan: Net earned premiums (1) $ 1,973 $ 2,125 $ 6,207 $ 7,084 Adjusted net investment income (2),(3) 679 663 1,927 2,066 Other income 8 9 26 26 Total adjusted revenue Aflac Japan 2,660 2,797 8,160 9,176 Aflac U.S.: Net earned premiums 1,419 1,375 4,272 4,182 Adjusted net investment income (4) 209 185 609 563 Other income 33 38 102 120 Total adjusted revenue Aflac U.S. 1,661 1,598 4,983 4,865 Corporate and other (5),(6) 115 73 384 189 Total adjusted revenues 4,436 4,468 13,527 14,230 Net investment gains (losses) (2),(3),(4),(5) 514 236 1,396 962 Total revenues $ 4,950 $ 4,704 $ 14,923 $ 15,192 (1) Includes a gain (loss) of $22 and $(41) for the three-month periods and $22 and $(42) for the nine-month periods ended September 30, 2023 and 2022, respectively, related to remeasurement of the deferred profit liability for limited-payment contracts. (2) Amortized hedge costs of $26 and $28 for the three-month periods and $148 and $84 for the nine-month periods ended September 30, 2023, and 2022, 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. (3) Net interest cash flows from derivatives associated with certain investment strategies of $(79) and $(25) for the three-month periods and $(214) and $(37) for the nine-month periods ended September 30, 2023, and 2022, 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 $(9) and $(1) for the three-month periods and $(24) and $1 for the nine-month periods ended September 30, 2023, and 2022, have been reclassified from net investment gains (losses) and included in adjusted earnings as a component of net investment income when analyzing operations. (5) Amortized hedge income of $25 and $19 for the three-month periods and $92 and $44 for the nine-month periods ended September 30, 2023, and 2022, 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. (6) The change in value of federal historic rehabilitation and solar investments in partnerships of $64 and $19 for the three-month periods and $169 and $61 for the nine-month periods ended September 30, 2023, and 2022, respectively, is included as a reduction to net investment income. Tax credits on these investments of $63 and $19 for the three-month periods and $171 and $63 for the nine-month periods ended September 30, 2023, and 2022, respectively, have been recorded as an income tax benefit in the consolidated statements of earnings. See Note 3 for additional information on these investments. Prior-year amounts have been adjusted for the adoption of accounting guidance on January 1, 2023 related to accounting for long-duration insurance contracts.
Reconciliation of Adjusted Profit (Loss) from Segments to Consolidated	Three Months Ended September 30, Nine Months Ended September 30, (In millions) 2023 2022 2023 2022 Pretax earnings: Aflac Japan (1),(2),(3) $ 869 $ 817 $ 2,479 $ 2,560 Aflac U.S. (4) 478 345 1,199 1,020 Corporate and other (5),(6),(7) (49) (56) (107) (173) Pretax adjusted earnings (8) 1,298 1,106 3,571 3,407 Net investment gains (losses) (2),(3),(4),(5),(6) 504 222 1,363 923 Other income (loss) 3 1 38 1 Total earnings before income taxes $ 1,805 $ 1,329 $ 4,972 $ 4,331 Income taxes applicable to pretax adjusted earnings $ 203 $ 196 $ 570 $ 610 Effect of foreign currency translation on after-tax (33) (97) (100) (192) (1) Includes a gain (loss) of $22 and $(41) for the three-month periods and $22 and $(42) for the nine-month periods ended September 30, 2023 and 2022, respectively, related to remeasurement of the deferred profit liability for limited-payment contracts. (2) Amortized hedge costs of $26 and $28 for the three-month periods and $148 and $84 for the nine-month periods ended September 30, 2023, and 2022, 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. (3) Net interest cash flows from derivatives associated with certain investment strategies of $(79) and $(25) for the three-month periods and $(214) and $(37) for the nine-month periods ended September 30, 2023, and 2022, 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 $(9) and $(1) for the three-month periods and $(24) and $1 for the nine-month periods ended September 30, 2023, and 2022, have been reclassified from net investment gains (losses) and included in adjusted earnings as a component of net investment income when analyzing operations. (5) Amortized hedge income of $25 and $19 for the three-month periods and $92 and $44 for the nine-month periods ended September 30, 2023, and 2022, respectively, related to certain foreign currency exposure management strategies has been reclassified from net investment gains (losses) and reported as an increase in net investment income when analyzing operations. (6) A gain of $8 and $13 for the three-month periods and $32 and $38 for the nine-month periods ended September 30, 2023, and 2022, 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. (7) The change in value of federal historic rehabilitation and solar investments in partnerships of $64 and $19 for the three-month periods and $169 and $61 for the nine-month periods ended September 30, 2023, and 2022, respectively, is included as a reduction to net investment income. Tax credits on these investments of $63 and $19 for the three-month periods and $171 and $63 for the nine-month periods ended September 30, 2023, and 2022, respectively, have been recorded as an income tax benefit in the consolidated statements of earnings. See Note 3 for additional information on these investments. (8) Includes $39 and $45 for the three-month periods and $109 and $127 for the nine-month periods ended September 30, 2023, and 2022, respectively, of interest expense on debt. Prior-year amounts have been adjusted for the adoption of accounting guidance on January 1, 2023 related to accounting for long-duration insurance contracts.
Reconciliation of Assets from Segment to Consolidated	Assets were as follows: (In millions) September 30, December 31, Assets: Aflac Japan $ 99,407 $ 105,734 Aflac U.S. 20,751 21,002 Corporate and other 4,953 5,002 Total assets $ 125,111 $ 131,738 Prior-year amounts have been adjusted for the adoption of accounting guidance on January 1, 2023 related to accounting for long-duration insurance contracts.

INVESTMENTS (Tables)

INVESTMENTS (Tables)	9 Months Ended
	Sep. 30, 2023
Available-for-Sale Debt Securities	The amortized cost and allowance for credit losses for the Company's investments in fixed maturity securities and the fair values of these investments as well as the fair value of the Company's investments in equity securities are shown in the following tables. September 30, 2023 (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 $ 22,605 $ 0 $ 863 $ 1,695 $ 21,773 Municipalities 918 0 105 58 965 Mortgage- and asset-backed securities 206 0 6 11 201 Public utilities 3,652 0 292 89 3,855 Sovereign and supranational 355 0 19 6 368 Banks/financial institutions 5,561 0 301 403 5,459 Other corporate 5,835 0 587 374 6,048 Total yen-denominated 39,132 0 2,173 2,636 38,669 U.S. dollar-denominated: U.S. government and agencies 189 0 0 10 179 Municipalities 1,241 0 47 112 1,176 Mortgage- and asset-backed securities 2,641 0 228 74 2,795 Public utilities 3,342 0 291 238 3,395 Sovereign and supranational 121 0 31 9 143 Banks/financial institutions 2,696 0 285 99 2,882 Other corporate 19,799 0 2,006 1,243 20,562 Total U.S. dollar-denominated 30,029 0 2,888 1,785 31,132 Total securities available-for-sale $ 69,161 $ 0 $ 5,061 $ 4,421 $ 69,801 December 31, 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
Held-to-maturity Securities	September 30, 2023 (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 $ 16,202 $ 2 $ 16,200 $ 1,487 $ 0 $ 17,687 Municipalities 253 0 253 36 0 289 Public utilities 33 0 33 3 0 36 Sovereign and supranational 399 3 396 33 0 429 Other corporate 17 0 17 2 0 19 Total yen-denominated 16,904 5 16,899 1,561 0 18,460 Total securities held-to-maturity $ 16,904 $ 5 $ 16,899 $ 1,561 $ 0 $ 18,460 December 31, 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
Equity securities, FV-NI	(In millions) September 30, December 31, 2022 Equity securities, carried at fair value through net earnings: Fair Value Fair Value Equity securities: Yen-denominated $ 708 $ 670 U.S. dollar-denominated 241 374 Other currencies 41 47 Total equity securities $ 990 $ 1,091
Investments Classified by Contractual Maturity Date	The contractual and economic maturities of the Company's investments in fixed maturity securities at September 30, 2023, were as follows: (In millions) Amortized (1) Fair Available-for-sale: Due in one year or less $ 1,835 $ 1,871 Due after one year through five years 6,385 6,920 Due after five years through 10 years 16,998 18,432 Due after 10 years 41,096 39,582 Mortgage- and asset-backed securities 2,847 2,996 Total fixed maturity securities available-for-sale $ 69,161 $ 69,801 Held-to-maturity: Due in one year or less $ 0 $ 0 Due after one year through five years 35 37 Due after five years through 10 years 9,014 9,815 Due after 10 years 7,850 8,608 Mortgage- and asset-backed securities 0 0 Total fixed maturity securities held-to-maturity $ 16,899 $ 18,460
Investment Exposures Exceeding Ten Percent Shareholders Equity	Investment exposures that individually exceeded 10% of shareholders' equity were as follows: September 30, 2023 December 31, 2022 (In millions) Credit Amortized Fair Credit Amortized Fair Japan National Government (1) A+ $37,858 $38,498 A+ $42,618 $44,178 (1) Japan Government Bonds (JGBs) or JGB-backed securities
Gain (Loss) on Investments	Information regarding pretax net gains and losses from investments is as follows: Three Months Ended September 30, Nine Months Ended September 30, (In millions) 2023 2022 2023 2022 Net investment gains (losses): Sales and redemptions: Fixed maturity securities available-for-sale: Gross gains from sales $ 3 $ 8 $ 11 $ 93 Gross losses from sales (13) (4) (22) (30) Foreign currency gains (losses) 51 54 136 187 Other investments: Gross gains (losses) from sales and redemptions 36 1 33 10 Commercial mortgage and other loans: Gross gains (losses) from sales and redemptions (53) 0 (53) 0 Total sales and redemptions 24 59 105 260 Equity securities 47 (22) 35 (313) Credit losses: Fixed maturity securities held-to-maturity 0 0 1 0 Commercial mortgage and other loans (30) (12) (63) (8) Impairment losses 0 (4) 0 (21) Loan commitments 1 5 5 7 Reinsurance recoverables and other 0 0 (3) 2 Total credit losses (29) (11) (60) (20) Derivatives and other: Derivative gains (losses) (53) (491) (630) (1,515) Foreign currency gains (losses) 434 664 1,651 2,473 Total derivatives and other 381 173 1,021 958 Total net investment gains (losses) $ 423 $ 199 $ 1,101 $ 885
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 was as follows: (In millions) September 30, December 31, Unrealized gains (losses) on securities available-for-sale $ 640 $ 272 Deferred income taxes (1,043) (974) Shareholders’ equity, unrealized gains (losses) on fixed maturity securities $ (403) $ (702)
Investments Gross Unrealized Loss Aging	The following tables show the fair values and gross unrealized losses of the Company's available-for-sale investments for the periods ended September 30, 2023 and December 31, 2022, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position. September 30, 2023 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 $ 179 $ 10 $ 42 $ 1 $ 137 $ 9 Japan government and Yen-denominated 7,997 1,695 656 24 7,341 1,671 Municipalities: U.S. dollar-denominated 738 112 123 7 615 105 Yen-denominated 283 58 32 0 251 58 Mortgage- and asset- U.S. dollar-denominated 1,094 74 804 61 290 13 Yen-denominated 54 11 0 0 54 11 Public utilities: U.S. dollar-denominated 1,754 238 944 96 810 142 Yen-denominated 963 89 415 18 548 71 Sovereign and supranational: U.S. dollar-denominated 33 9 0 0 33 9 Yen-denominated 58 6 0 0 58 6 Banks/financial institutions: U.S. dollar-denominated 1,043 99 460 16 583 83 Yen-denominated 3,491 403 110 3 3,381 400 Other corporate: U.S. dollar-denominated 8,831 1,243 2,994 166 5,837 1,077 Yen-denominated 2,017 374 524 27 1,493 347 Total $ 28,535 $ 4,421 $ 7,104 $ 419 $ 21,431 $ 4,002 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
Composition of the Carrying Value for 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 the periods presented. (In millions) September 30, 2023 December 31, 2022 Amortized Cost % of Total Amortized Cost % of Total Commercial Mortgage and other loans: Transitional real estate loans: Office $ 1,912 14.6 % $ 2,158 15.8 % Retail 471 3.6 493 3.6 Apartments/Multi-Family 2,616 19.8 2,701 19.7 Industrial 442 3.4 123 .9 Hospitality 813 6.2 803 5.9 Other 296 2.3 231 1.7 Total transitional real estate loans 6,550 49.9 6,509 47.6 Commercial mortgage loans: Office 375 2.9 388 2.8 Retail 304 2.3 310 2.3 Apartments/Multi-Family 604 4.6 630 4.6 Industrial 451 3.4 694 5.1 Total commercial mortgage loans 1,734 13.2 2,022 14.8 Middle market loans 4,849 36.9 5,157 37.6 Total commercial mortgage and other loans $ 13,133 100.0 % $ 13,688 100.0 % Allowance for credit losses (260) (192) Total net commercial mortgage and other loans $ 12,873 $ 13,496
Financing Receivable Nonaccrual	The following table presents an aging of past due and nonaccrual loans at amortized cost, before allowance for credit losses, as of the period presented. September 30, 2023 (In millions) Current Less Than 90 Days Past Due 90 Days or More Past Due (1) Total Past Due Total Nonaccrual Status Transitional real estate loans $ 6,005 $ 54 $ 491 $ 545 $ 6,550 $ 545 Commercial mortgage loans 1,734 0 0 0 1,734 0 Middle market loans 4,774 0 75 75 4,849 75 Total $ 12,513 $ 54 $ 566 $ 620 $ 13,133 $ 620 (1) As of September 30, 2023, there were no loans that were 90 days or more past due that continued to accrue interest
Allowance for Loan Losses by Portfolio Segment	The following table presents the roll forward of the allowance for credit losses by portfolio segment for loans and by accounting classification for securities. (In millions) Transitional Real Estate Loans Commercial Mortgage Loans Middle Market Loans Held-to-Maturity Securities Available-for-Sale Securities Reinsurance Recoverables Three Months Ended September 30, 2023: Balance at June 30, 2023 $ (76) $ (9) $ (140) $ (5) $ 0 $ (10) (Addition to) release of allowance for credit losses (1) (35) (3) 3 1 0 0 Write-offs, net of recoveries 0 0 0 0 0 0 Change in foreign exchange 0 0 0 (1) 0 1 Balance at September 30, 2023 (2) $ (111) $ (12) $ (137) $ (5) $ 0 $ (9) Three Months Ended September 30, 2022: Balance at June 30, 2022 $ (53) $ (8) $ (109) $ (7) $ 0 $ (8) (Addition to) release of allowance for credit (2) (2) (6) 0 0 0 Write-offs, net of recoveries 0 0 (2) 0 0 0 Change in foreign exchange 0 0 0 1 0 0 Balance at September 30, 2022 (2) $ (55) $ (10) $ (117) $ (6) $ 0 $ (8) Nine Months Ended September 30, 2023: Balance at December 31, 2022 $ (54) $ (9) $ (129) $ (7) $ 0 $ (8) (Addition to) release of allowance for credit losses (1) (57) (3) (8) 1 0 (2) Write-offs, net of recoveries 0 0 0 0 0 0 Change in foreign exchange 0 0 0 1 0 1 Balance at September 30, 2023 (2) $ (111) $ (12) $ (137) $ (5) $ 0 $ (9) Nine Months Ended September 30, 2022: Balance at December 31, 2021 $ (68) $ (10) $ (96) $ (8) $ 0 $ (13) (Addition to) release of allowance for credit 13 0 (24) 0 0 2 Write-offs, net of recoveries 0 0 3 0 0 0 Change in foreign exchange 0 0 0 2 0 3 Balance at September 30, 2022 (2) $ (55) $ (10) $ (117) $ (6) $ 0 $ (8) (1) Includes an allowance for credit losses of $4 recognized on financial assets accounted for as purchased financial assets with credit deterioration that is not recorded in earnings upon recognition. (2) Excludes allowance on firm loan commitments of $19 and $26 as of September 30, 2023 and 2022, respectively.
Other Investments	The table below reflects the composition of the carrying value for other investments as of the periods presented. (In millions) September 30, December 31, 2022 Other investments: Policy loans $ 201 $ 214 Short-term investments (1) 2,288 1,532 Limited partnerships 2,629 2,290 Real estate owned 89 0 Other 34 34 Total other investments $ 5,241 $ 4,070
Securities Lending Transactions Accounted for as Secured Borrowings	Details of collateral by loaned security type and remaining maturity of the agreements were as follows: Securities Lending Transactions Accounted for as Secured Borrowings Remaining Contractual Maturity of the Agreements September 30, 2023 December 31, 2022 (In millions) Overnight (1) Up to 30 30-90 days Total Overnight (1) Up to 30 Total Securities lending Fixed maturity securities: Japan government and $ 0 $ 3,684 $ 251 $ 3,935 $ 0 $ 1,087 $ 1,087 Public utilities 17 0 0 17 12 0 12 Banks/financial institutions 78 0 0 78 89 0 89 Other corporate 577 0 0 577 621 0 621 Total borrowings $ 672 $ 3,684 $ 251 $ 4,607 $ 722 $ 1,087 $ 1,809 Gross amount of recognized liabilities for securities $ 4,607 $ 1,809 (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	VIEs - Consolidated The following table presents the cost or amortized cost, fair value and balance sheet caption in which the assets and liabilities of consolidated VIEs are reported. Investments in Consolidated Variable Interest Entities September 30, 2023 December 31, 2022 (In millions) Amortized (1) Fair Amortized Cost (1) Fair Assets: Fixed maturity securities, available-for-sale $ 2,731 $ 3,432 $ 3,223 $ 3,805 Commercial mortgage and other loans 10,425 10,097 10,832 10,762 Other investments (2) 2,278 2,278 1,909 1,909 Other assets (3) 59 59 62 62 Total assets of consolidated VIEs $ 15,493 $ 15,866 $ 16,026 $ 16,538 Liabilities: Other liabilities (3) $ 442 $ 442 $ 390 $ 390 Total liabilities of consolidated VIEs $ 442 $ 442 $ 390 $ 390 (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	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 consolidated are reported. Investments in Variable Interest Entities Not Consolidated September 30, 2023 December 31, 2022 (In millions) Amortized Fair Amortized Fair Assets: Fixed maturity securities, available-for-sale $ 5,741 $ 6,196 $ 3,998 $ 4,259 Other investments (1) 351 351 381 381 Total investments in VIEs not consolidated $ 6,092 $ 6,547 $ 4,379 $ 4,640 (1) Consists entirely of alternative investments in limited partnerships
Transitional real estate loans
Financing Receivable Credit Quality Indicators	Transitional Real Estate Loans (In millions) 2023 2022 2021 2020 2019 Prior Total Loan-to-Value Ratio: 0%-59.99% $ 114 $ 805 $ 554 $ 36 $ 124 $ 10 $ 1,643 60%-69.99% 43 561 673 52 469 125 1,923 70%-79.99% 0 809 956 139 249 65 2,218 80% or greater 0 215 214 46 96 195 766 Total $ 157 $ 2,390 $ 2,397 $ 273 $ 938 $ 395 $ 6,550
Commercial mortgage loans
Financing Receivable Credit Quality Indicators	Commercial Mortgage Loans (In millions) 2023 2022 2021 2020 2019 Prior Total Weighted-Average DSCR Loan-to-Value Ratio: 0%-59.99% $ 19 $ 0 $ 311 $ 45 $ 459 $ 596 $ 1,430 2.57 60%-69.99% 0 0 0 0 17 87 104 1.82 70%-79.99% 0 0 0 0 80 44 124 1.49 80% or greater 0 0 0 0 28 48 76 2.20 Total $ 19 $ 0 $ 311 $ 45 $ 584 $ 775 $ 1,734 2.43 Weighted Average DSCR 2.08 0.00 3.18 2.05 2.44 2.14
Middle market loans
Financing Receivable Credit Quality Indicators	Middle Market Loans (In millions) 2023 2022 2021 2020 2019 Prior Revolving Loans Total Credit Ratings: BBB $ 7 $ 57 $ 128 $ 68 $ 37 $ 27 $ 146 $ 470 BB 31 321 466 297 170 111 388 1,784 B 15 216 615 362 420 291 285 2,204 CCC 0 5 21 39 110 134 56 365 CC 0 0 0 0 7 10 0 17 C and lower 0 0 0 0 0 6 3 9 Total $ 53 $ 599 $ 1,230 $ 766 $ 744 $ 579 $ 878 $ 4,849

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	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. 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. September 30, 2023 December 31, 2022 (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 $ 4 $ 18 $ 0 $ 3 Total cash flow hedges 18 0 4 18 0 3 Fair value hedges: Foreign currency options 6,127 0 0 7,940 45 0 Total fair value hedges 6,127 0 0 7,940 45 0 Net investment hedge: Foreign currency forwards 2,383 290 0 4,982 383 85 Foreign currency options 870 0 0 2,630 7 0 Total net investment hedge 3,253 290 0 7,612 390 85 Non-qualifying strategies: Foreign currency swaps 1,200 39 0 1,900 66 0 Foreign currency swaps - VIE 3,416 59 438 3,420 62 387 Foreign currency forwards 7,402 189 588 5,049 17 640 Foreign currency options 18,223 1 0 5,521 30 0 Interest rate swaps 17,730 0 636 17,730 7 583 Total non-qualifying strategies 47,971 288 1,662 33,620 182 1,610 Total derivatives $ 57,369 $ 578 $ 1,666 $ 49,190 $ 617 $ 1,698
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location	The following table presents the gains and losses on derivatives and the related hedged items in fair value hedges. Fair Value Hedging Relationships (In millions) Hedging Derivatives Hedged Items Hedging Derivatives Hedged Items Total Gains (Losses) (1) Gains (Losses) (2) Gains (Losses) (2) Net Investment Gains (Losses) Recognized for Fair Value Hedge Three Months Ended September 30, 2023: Foreign currency options Fixed maturity securities $ (1) $ (1) $ 0 $ 0 $ 0 Total gains (losses) $ (1) $ (1) $ 0 $ 0 $ 0 Nine Months Ended September 30, 2023: Foreign currency options Fixed maturity securities $ (65) $ (65) $ 0 $ 0 $ 0 Total gains (losses) $ (65) $ (65) $ 0 $ 0 $ 0 Three Months Ended September 30, 2022: Foreign currency options Fixed maturity securities $ (15) $ (15) $ 0 $ 0 $ 0 Total gains (losses) $ (15) $ (15) $ 0 $ 0 $ 0 Nine Months Ended September 30, 2022: Foreign currency options Fixed maturity securities $ (41) $ (41) $ 0 $ 0 $ 0 Total gains (losses) $ (41) $ (41) $ 0 $ 0 $ 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 statements 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 statements 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 (losses) consistent with the impact of the hedged item. For the three- and nine-month periods ended September 30, 2023 and 2022, 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. The Company had no fair value hedges of interest rate risk as of September 30, 2023 and December 31, 2022; therefore, the amounts presented in the table below are related to previous fair value hedges of interest rate risk that were discontinued. (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) September 30, December 31, 2022 September 30, December 31, 2022 Fixed maturity securities $ 1,829 $ 2,360 $ 179 $ 189 (1) The balance includes hedging adjustment on discontinued hedging relationships of $179 in 2023 and $189 in 2022.
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. Three Months Ended September 30, 2023 2022 (In millions) 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) $ (1) $ 1 $ 0 $ (1) $ 1 Total cash flow hedges (1) (1) (3) 1 0 (1) (3) 1 Fair value hedges: Foreign currency options (1) (15) Total fair value hedges (1) (15) Net investment hedge: Non-derivative hedging 0 112 0 181 Foreign currency forwards 71 32 28 236 Foreign currency options 0 0 (1) 0 Total net investment hedge 71 144 27 417 Non-qualifying strategies: Foreign currency swaps 1 27 Foreign currency swaps - VIE (22) (19) Foreign currency forwards 32 (252) Foreign currency options (9) 0 Interest rate swaps (124) (257) Forward bond purchase 0 (1) Total non- qualifying strategies (122) (502) Total $ (1) $ (53) $ 145 $ 0 $ (491) $ 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 statements of comprehensive income (loss). (3) Impact of cash flow hedges reported as net investment gains (losses) includes $1 of losses reclassified from accumulated other comprehensive income (loss) into earnings during the three-month period ended September 30, 2023, and $1 of losses during the three-month period ended September 30, 2022 . Nine Months Ended September 30, 2023 2022 (In millions) 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) $ (3) $ 3 $ 0 $ (3) $ 2 Total cash flow hedges (1) (3) (3) 3 0 (3) (3) 2 Fair value hedges: Foreign currency options (65) (41) Interest rate swaptions (4) (1) 0 1 0 0 0 Total fair value hedges (1) (65) 1 0 (41) 0 Net investment hedge: Non-derivative hedging 0 450 0 705 Foreign currency forwards 198 454 (73) 1,059 Foreign currency options (8) 0 (2) 0 Total net investment hedge 190 904 (75) 1,764 Non-qualifying strategies: Foreign currency swaps 4 162 Foreign currency swaps - VIE (112) (35) Foreign currency forwards (350) (966) Foreign currency options (46) (13) Interest rate swaps (244) (523) Forward bond purchase (4) (21) Total non-qualifying strategies (752) (1,396) Total $ (2) $ (630) $ 908 $ 0 $ (1,515) $ 1,766 (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 statements of comprehensive income (loss). (3) Impact of cash flow hedges reported as net investment gains (losses) includes $3 of losses reclassified from accumulated other comprehensive income (loss) into earnings during the nine-month period ended September 30, 2023, and $3 of losses during the nine-month period ended September 30, 2022. (4) Includes $1 of losses reclassified from accumulated other comprehensive income (loss) into earnings during the nine-month period ended September 30, 2023 and $1 of losses during the nine-month period ended September 30, 2022 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 September 30, 2023 Gross Amounts Not Offset (In millions) Gross Amount of Recognized Assets Gross Amount Net Amount of Assets Presented Financial Instruments Securities Cash Collateral Received Net Amount Derivative Derivative assets subject to a master netting agreement or offsetting arrangement OTC - bilateral $ 519 $ 0 $ 519 $ (189) $ (103) $ (225) $ 2 OTC - cleared 0 0 0 0 0 0 0 Total derivative 519 0 519 (189) (103) (225) 2 Derivative assets not subject to a master netting agreement or offsetting arrangement OTC - bilateral 59 59 59 Total derivative 59 59 59 Total derivative 578 0 578 (189) (103) (225) 61 Securities lending 4,563 0 4,563 0 0 (4,563) 0 Total $ 5,141 $ 0 $ 5,141 $ (189) $ (103) $ (4,788) $ 61 December 31, 2022 Gross Amounts Not Offset (In millions) Gross Amount of Recognized Assets Gross Amount Net Amount of Assets Presented Financial Instruments Securities Cash Collateral Received Net Amount 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
Offsetting Liabilities	Offsetting of Financial Liabilities and Derivative Liabilities September 30, 2023 Gross Amounts Not Offset (In millions) Gross Amount of Recognized Liabilities Gross Amount Net Amount of Liabilities Presented Financial Instruments Securities Cash Collateral Pledged Net Amount Derivative Derivative liabilities subject to a master netting agreement or offsetting arrangement OTC - bilateral $ 588 $ 0 $ 588 $ (189) $ (362) $ (36) $ 1 OTC - cleared 636 0 636 0 (3) (633) 0 Total derivative 1,224 0 1,224 (189) (365) (669) 1 Derivative liabilities not subject to a master netting agreement or offsetting arrangement OTC - bilateral 442 442 442 Total derivative 442 442 442 Total derivative 1,666 0 1,666 (189) (365) (669) 443 Securities lending 4,607 0 4,607 (4,563) 0 0 44 Total $ 6,273 $ 0 $ 6,273 $ (4,752) $ (365) $ (669) $ 487 December 31, 2022 Gross Amounts Not Offset (In millions) Gross Amount of Recognized Liabilities Gross Amount Net Amount of Liabilities Presented Financial Instruments Securities Cash Collateral Pledged Net Amount 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

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2023
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. September 30, 2023 (In millions) Quoted Prices in Significant Significant Total Assets: Securities available-for-sale, carried at Fixed maturity securities: Government and agencies $ 21,095 $ 857 $ 0 $ 21,952 Municipalities 0 2,141 0 2,141 Mortgage- and asset-backed securities 0 2,316 680 2,996 Public utilities 0 6,991 259 7,250 Sovereign and supranational 0 480 31 511 Banks/financial institutions 0 8,271 70 8,341 Other corporate 0 26,046 564 26,610 Total fixed maturity securities 21,095 47,102 1,604 69,801 Equity securities 787 0 203 990 Other investments 2,288 0 0 2,288 Cash and cash equivalents 5,502 0 0 5,502 Other assets: Foreign currency swaps 0 98 0 98 Foreign currency forwards 0 479 0 479 Foreign currency options 0 1 0 1 Total other assets 0 578 0 578 Total assets $ 29,672 $ 47,680 $ 1,807 $ 79,159 Liabilities: Other liabilities: Foreign currency swaps $ 0 $ 442 $ 0 $ 442 Foreign currency forwards 0 588 0 588 Interest rate swaps 0 636 0 636 Total liabilities $ 0 $ 1,666 $ 0 $ 1,666 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
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. September 30, 2023 (In millions) Carrying Quoted Prices in Significant Significant Total Assets: Securities held-to-maturity, Fixed maturity securities: Government and agencies $ 16,200 $ 17,530 $ 157 $ 0 $ 17,687 Municipalities 253 0 289 0 289 Public utilities 33 0 36 0 36 Sovereign and 396 0 429 0 429 Other corporate 17 0 19 0 19 Commercial mortgage and 12,873 0 0 12,432 12,432 Other investments (1) 34 0 34 0 34 Total assets $ 29,806 $ 17,530 $ 964 $ 12,432 $ 30,926 Liabilities: Other policyholders’ funds $ 5,884 $ 0 $ 0 $ 5,795 $ 5,795 Notes payable 6,824 0 5,555 713 6,268 Total liabilities $ 12,708 $ 0 $ 5,555 $ 6,508 $ 12,063 (1) Excludes policy loans of $201, equity method investments of $2,629 and REO of $89, at carrying valu e 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 $ 6,643 $ 0 $ 0 $ 6,543 $ 6,543 Notes payable 7,295 0 6,024 802 6,826 Total liabilities $ 13,938 $ 0 $ 6,024 $ 7,345 $ 13,369 (1) Excludes policy loans of $214 and equity method investments of $2,290, at carrying value Prior-year amounts have been adjusted for the adoption of accounting guidance on January 1, 2023 related to accounting for long-duration insurance contracts.
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. September 30, 2023 (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 $ 21,095 $ 522 $ 0 $ 21,617 Internal 0 335 0 335 Total government and agencies 21,095 857 0 21,952 Municipalities: Third party pricing vendor 0 1,870 0 1,870 Internal 0 271 0 271 Total municipalities 0 2,141 0 2,141 Mortgage- and asset-backed securities: Third party pricing vendor 0 2,274 0 2,274 Internal 0 12 101 113 Broker/other 0 30 579 609 Total mortgage- and asset-backed securities 0 2,316 680 2,996 Public utilities: Third party pricing vendor 0 3,575 0 3,575 Internal 0 3,331 0 3,331 Broker/other 0 85 259 344 Total public utilities 0 6,991 259 7,250 Sovereign and supranational: Third party pricing vendor 0 143 0 143 Internal 0 337 0 337 Broker/other 0 0 31 31 Total sovereign and supranational 0 480 31 511 Banks/financial institutions: Third party pricing vendor 0 4,249 0 4,249 Internal 0 4,022 61 4,083 Broker/other 0 0 9 9 Total banks/financial institutions 0 8,271 70 8,341 Other corporate: Third party pricing vendor 0 20,854 0 20,854 Internal 0 5,105 209 5,314 Broker/other 0 87 355 442 Total other corporate 0 26,046 564 26,610 Total securities available-for-sale $ 21,095 $ 47,102 $ 1,604 $ 69,801 Equity securities, carried at fair value: Third party pricing vendor $ 787 $ 0 $ 0 $ 787 Broker/other 0 0 203 203 Total equity securities $ 787 $ 0 $ 203 $ 990 December 31, 2022 (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 $ 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
Fair Value Assets Held-To-Maturity Securities Primary Pricing Sources	September 30, 2023 (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 $ 17,530 $ 157 $ 0 $ 17,687 Total government and agencies 17,530 157 0 17,687 Municipalities: Third party pricing vendor 0 289 0 289 Total municipalities 0 289 0 289 Public utilities: Third party pricing vendor 0 36 0 36 Total public utilities 0 36 0 36 Sovereign and supranational: Third party pricing vendor 0 213 0 213 Internal 0 216 0 216 Total sovereign and supranational 0 429 0 429 Other corporate: Third party pricing vendor 0 19 0 19 Total other corporate 0 19 0 19 Total securities held-to-maturity $ 17,530 $ 930 $ 0 $ 18,460 December 31, 2022 (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 $ 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
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	The following tables present the changes in fair value of the Company's investments carried at fair value classified as Level 3. Three Months Ended September 30, 2023 Fixed Maturity Securities Equity (In millions) Mortgage- Public Sovereign and Supranational Banks/ Other Total Balance, beginning of period $ 652 $ 302 $ 32 $ 69 $ 572 $ 213 $ 1,840 Net investment gains (losses) included 0 0 0 0 0 (7) (7) Unrealized gains (losses) included in (13) (12) (1) (2) (41) 0 (69) Purchases, issuances, sales and Purchases 55 36 0 0 36 0 127 Issuances 0 0 0 0 0 0 0 Sales 0 0 0 0 0 0 0 Settlements (11) (6) 0 0 0 0 (17) Transfers into Level 3 0 0 0 3 39 0 42 Transfers out of Level 3 (3) (61) 0 0 (42) (3) (109) Balance, end of period $ 680 $ 259 $ 31 $ 70 $ 564 $ 203 $ 1,807 Changes in unrealized gains (losses) $ 0 $ 0 $ 0 $ 0 $ 0 $ (3) $ (3) Three Months Ended September 30, 2022 Fixed Maturity Securities Equity (In millions) Mortgage- Public Sovereign and Supranational Banks/ Other Total Balance, beginning of period $ 311 $ 537 $ 36 $ 91 $ 632 $ 190 $ 1,797 Net investment gains (losses) included 0 1 0 1 0 (3) (1) Unrealized gains (losses) included in (12) (30) (2) (12) (41) 0 (97) Purchases, issuances, sales and Purchases 56 7 0 88 145 10 306 Issuances 0 0 0 0 0 0 0 Sales 0 0 0 0 0 0 0 Settlements (21) (8) 0 (20) (183) 0 (232) Transfers into Level 3 0 0 0 0 68 0 68 Transfers out of Level 3 (24) 0 0 0 0 0 (24) Balance, end of period $ 310 $ 507 $ 34 $ 148 $ 621 $ 197 $ 1,817 Changes in unrealized gains (losses) $ 0 $ 1 $ 0 $ 0 $ 0 $ (2) $ (1) Nine Months Ended September 30, 2023 Fixed Maturity Securities Equity (In millions) Mortgage- Public Sovereign Banks/ Other Total Balance, beginning of period $ 343 $ 497 $ 37 $ 159 $ 742 $ 209 $ 1,987 Net investment gains (losses) included 0 0 0 0 0 (13) (13) Unrealized gains (losses) included in (23) (18) (4) 2 (33) 0 (76) Purchases, issuances, sales Purchases 383 36 0 0 148 10 577 Issuances 0 0 0 0 0 0 0 Sales 0 0 0 0 0 0 0 Settlements (144) (15) (2) (7) (3) 0 (171) Transfers into Level 3 124 18 0 3 39 0 184 Transfers out of Level 3 (3) (259) 0 (87) (329) (3) (681) Balance, end of period $ 680 $ 259 $ 31 $ 70 $ 564 $ 203 $ 1,807 Changes in unrealized gains $ 1 $ 1 $ 0 $ 0 $ 0 $ (9) $ (7) Nine Months Ended September 30, 2022 Fixed Maturity Securities Equity (In millions) Mortgage- Public Sovereign Banks/ Other Total Balance, beginning of period $ 291 $ 493 $ 43 $ 45 $ 426 $ 173 $ 1,471 Net investment gains (losses) included 0 2 0 1 0 (2) 1 Unrealized gains (losses) included in (81) (111) (9) (14) (96) 0 (311) Purchases, issuances, sales and Purchases 222 35 0 121 267 53 698 Issuances 0 0 0 0 0 0 0 Sales 0 0 0 0 0 0 0 Settlements (59) (40) 0 (23) (185) (7) (314) Transfers into Level 3 0 128 0 18 350 0 496 Transfers out of Level 3 (63) 0 0 0 (141) (20) (224) Balance, end of period $ 310 $ 507 $ 34 $ 148 $ 621 $ 197 $ 1,817 Changes in unrealized gains $ 0 $ 1 $ 0 $ 0 $ 0 $ (4) $ (3)
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. Included in the tables are the inputs or range of possible inputs that have an effect on the overall valuation of the financial instruments. September 30, 2023 (In millions) Fair Value Valuation Technique(s) Unobservable Input Range Weighted Average Assets: Securities available-for-sale, carried at fair value: Fixed maturity securities: Mortgage- and asset-backed securities $ 680 Consensus pricing Offered quotes 80.10 - 105.93 (a) 97.03 Public utilities 259 Consensus pricing Offered quotes 93.16 - 98.77 (a) 95.08 Sovereign and supranational 31 Consensus pricing Offered quotes N/A (c) N/A Banks/financial institutions 70 Discounted cash flow Credit spreads N/A (c) N/A Other corporate 564 Discounted cash flow Credit spreads 68 bps - 512 bps (b) 207 bps Equity securities 203 Adjusted cost Private financials N/A (d) N/A Total assets $ 1,807 (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. December 31, 2022 (In millions) Fair Value Valuation Technique(s) Unobservable Input Range Weighted Average 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) 102.98 Public utilities 497 Discounted cash flow Credit spreads 128 bps - 286 bps (b) 192 bps Sovereign and supranational 37 Consensus pricing Offered quotes N/A (c) N/A Banks/financial institutions 159 Discounted cash flow Credit spreads 67 bps - 188 bps (b) 113 bps Other corporate 742 Discounted cash flow Credit spreads 66 bps - 647 bps (b) 191 bps Equity securities 209 Adjusted cost Private financials N/A (d) N/A 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

DEFERRED POLICY ACQUISITION C_2

DEFERRED POLICY ACQUISITION COSTS (Tables)	9 Months Ended
	Sep. 30, 2023
Insurance [Abstract]
Schedule Of Deferred Policy Acquisition Costs	The following tables present a rollforward of deferred policy acquisition costs by reporting segment and disaggregated by product type. September 30, 2023 Aflac Japan Aflac U.S. (In millions) Cancer Medical and Other Health Life Insurance Other Accident Disability Critical Care Hospital Indemnity Dental/Vision Life Insurance Other Total Deferred policy acquisition costs: Balance at December 31, 2022 $ 3,035 $ 2,161 $ 525 $ 55 $ 904 $ 613 $ 1,304 $ 418 $ 88 $ 135 $ 1 $ 9,239 Capitalization 247 93 26 7 109 90 122 60 7 43 0 804 Amortization expense (139) (80) (26) (2) (103) (84) (102) (48) (9) (18) 3 (608) Foreign currency translation and (352) (244) (58) (7) 0 0 0 0 0 0 (3) (664) Balance at September 30, 2023 $ 2,791 $ 1,930 $ 467 $ 53 $ 910 $ 619 $ 1,324 $ 430 $ 86 $ 160 $ 1 $ 8,771 December 31, 2022 Aflac Japan Aflac U.S. (In millions) Cancer Medical and Other Health Life Insurance Other Accident Disability Critical Care Hospital Indemnity Dental/Vision Life Insurance Other Total Deferred policy acquisition costs: Balance at December 31, 2021 $ 3,464 $ 2,372 $ 595 $ 51 $ 887 $ 604 $ 1,270 $ 399 $ 90 $ 115 $ 1 $ 9,848 Capitalization 291 161 33 12 147 117 160 80 11 40 0 1,052 Amortization expense (188) (112) (35) (3) (130) (108) (126) (61) (13) (20) 4 (792) Foreign currency translation and (532) (260) (68) (5) 0 0 0 0 0 0 (4) (869) Balance at December 31, 2022 $ 3,035 $ 2,161 $ 525 $ 55 $ 904 $ 613 $ 1,304 $ 418 $ 88 $ 135 $ 1 $ 9,239

POLICY LIABILITIES (Tables)

POLICY LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2023
Insurance Loss Reserves [Abstract]
Schedule of Changes in Present Value of Expected Net Premiums and Expected Future Policy Benefits	The following tables present the changes in the present value of expected future net premiums and the present value of expected future policy benefits by reporting segment and disaggregated by product type. The present value of expected future net premiums and the present value of expected future policy benefits are presented gross of internal and external reinsurance. September 30, 2023 Aflac Japan Aflac U.S. (In millions) Cancer Medical and Other Health Life Insurance Other Accident Disability Critical Care Hospital Indemnity Dental/Vision Life Insurance Other Present value of expected future net premiums: Balance at December 31, 2022 $ 19,298 $ 16,714 $ 7,485 $ 1,256 $ 2,534 $ 1,635 $ 4,486 $ 1,220 $ 211 $ 724 $ 110 Beginning balance at original discount rate 18,221 16,195 7,284 1,242 2,760 1,775 5,050 1,365 231 799 118 Effect of changes in cash flow assumptions (166) (473) 44 (12) (16) (51) (494) (142) (9) 61 (9) Effect of actual variances from expected (261) (90) (34) (9) (44) (6) (154) (48) (13) (9) 2 Adjusted beginning of period balance 17,794 15,632 7,294 1,221 2,700 1,718 4,402 1,175 209 851 111 Issuances 770 285 267 19 256 293 397 203 31 137 76 Interest accrual 312 255 94 15 77 46 137 34 6 23 4 Net premiums collected (1) (1,182) (959) (778) (85) (356) (292) (440) (187) (30) (101) (12) Foreign currency translation (2,023) (1,767) (798) (137) 0 0 0 0 0 0 0 Other (1) (1) 0 0 (5) (6) (5) (3) 1 1 8 Ending balance at original discount rate 15,670 13,445 6,079 1,033 2,672 1,759 4,491 1,222 217 911 187 Effect of changes in discount rate assumptions 823 449 171 9 (283) (162) (630) (150) (23) (105) (15) Balance at September 30, 2023 $ 16,493 $ 13,894 $ 6,250 $ 1,042 $ 2,389 $ 1,597 $ 3,861 $ 1,072 $ 194 $ 806 $ 172 Present value of expected future policy benefits: Balance at December 31, 2022 $ 54,766 $ 27,419 $ 31,954 $ 5,582 $ 3,098 $ 2,445 $ 11,489 $ 2,074 $ 488 $ 1,526 $ 622 Beginning balance at original discount rate 47,677 27,566 32,800 5,940 3,391 2,636 12,846 2,300 532 1,778 624 Effect of changes in cash flow assumptions (148) (510) 66 (27) (11) (59) (592) (194) (14) 72 (13) Effect of actual variances from expected (314) (102) (43) (7) (61) (21) (188) (68) (17) (12) 2 Adjusted beginning of period balance 47,215 26,954 32,823 5,906 3,319 2,556 12,066 2,038 501 1,838 613 Issuances 787 295 272 24 265 305 408 211 33 140 76 Interest accrual 1,116 461 472 76 95 72 396 64 15 50 24 Benefit payments (2,245) (883) (1,090) (154) (340) (349) (668) (207) (44) (81) (35) Foreign currency translation (5,327) (3,064) (3,681) (664) 0 0 0 0 0 0 0 Other 0 0 0 0 0 0 1 0 3 5 9 Ending balance at original discount rate 41,546 23,763 28,796 5,188 3,339 2,584 12,203 2,106 508 1,952 687 Effect of changes in discount rate assumptions 5,663 (170) (868) (332) (375) (233) (1,743) (259) (58) (344) (35) Balance at September 30, 2023 47,209 23,593 27,928 4,856 2,964 2,351 10,460 1,847 450 1,608 652 Net liability for future policy benefits 30,716 9,699 21,678 3,814 575 754 6,599 775 256 802 480 Less: reinsurance recoverable 1,952 1,422 0 0 0 0 0 0 0 11 0 Net liability for future policy benefits after $ 28,764 $ 8,277 $ 21,678 $ 3,814 $ 575 $ 754 $ 6,599 $ 775 $ 256 $ 791 $ 480 (1) Net premiums collected represent the portion of gross premiums collected from policyholders that is used to fund expected future benefit payments. December 31, 2022 Aflac Japan Aflac U.S. (In millions) Cancer Medical and Other Health Life Insurance Other Accident Disability Critical Care Hospital Indemnity Dental/Vision Life Insurance Other Present value of expected future net premiums: Balance at December 31, 2021 $ 25,893 $ 21,174 $ 10,847 $ 1,586 $ 3,283 $ 1,862 $ 6,023 $ 1,467 $ 264 $ 834 $ 153 Beginning balance at original discount rate 22,470 18,681 10,064 1,461 2,999 1,760 5,391 1,380 241 780 135 Effect of changes in cash flow assumptions (639) 317 (494) 25 (52) 5 (38) 42 10 (1) (12) Effect of actual variances from expected (284) 61 (81) (10) (152) (43) (421) (111) (20) (16) 6 Adjusted beginning of period balance 21,547 19,059 9,489 1,476 2,795 1,722 4,932 1,311 231 763 129 Issuances 947 639 221 62 355 384 537 273 33 146 0 Interest accrual 459 364 146 22 105 57 193 45 9 27 5 Net premiums collected (1) (1,734) (1,376) (1,229) (123) (496) (382) (612) (261) (42) (131) (17) Foreign currency translation (2,997) (2,488) (1,343) (195) 0 0 0 0 0 0 0 Other (1) (3) 0 0 1 (6) 0 (3) 0 (6) 1 Ending balance at original discount rate 18,221 16,195 7,284 1,242 2,760 1,775 5,050 1,365 231 799 118 Effect of changes in discount rate assumptions 1,077 519 201 14 (226) (140) (564) (145) (20) (75) (8) Balance at December 31, 2022 $ 19,298 $ 16,714 $ 7,485 $ 1,256 $ 2,534 $ 1,635 $ 4,486 $ 1,220 $ 211 $ 724 $ 110 Present value of expected future policy benefits: Balance at December 31, 2021 $ 72,747 $ 36,021 $ 42,720 $ 7,322 $ 3,949 $ 2,871 $ 15,388 $ 2,552 $ 616 $ 1,843 $ 837 Beginning balance at original discount rate 56,807 31,398 39,002 6,787 3,594 2,670 13,079 2,300 549 1,694 645 Effect of changes in cash flow assumptions (721) 352 (550) 96 (70) 5 (43) 40 13 (1) (15) Effect of actual variances from expected (333) 83 (91) (10) (177) (48) (465) (130) (23) (21) 7 Adjusted beginning of period balance 55,753 31,833 38,361 6,873 3,347 2,627 12,571 2,210 539 1,672 637 Issuances 960 646 222 68 364 397 550 282 34 149 0 Interest accrual 1,599 642 670 106 128 94 539 85 21 62 32 Benefit payments (3,050) (1,375) (1,248) (202) (456) (483) (823) (277) (62) (103) (45) Foreign currency translation (7,585) (4,180) (5,205) (905) 0 0 0 0 0 0 0 Other 0 0 0 0 8 1 9 0 0 (2) 0 Ending balance at original discount rate 47,677 27,566 32,800 5,940 3,391 2,636 12,846 2,300 532 1,778 624 Effect of changes in discount rate assumptions 7,089 (147) (846) (358) (293) (191) (1,357) (226) (44) (252) (2) Balance at December 31, 2022 54,766 27,419 31,954 5,582 3,098 2,445 11,489 2,074 488 1,526 622 Net liability for future policy benefits 35,468 10,705 24,469 4,326 564 810 7,003 854 277 802 512 Less: reinsurance recoverable 0 1,579 0 0 0 0 0 0 0 9 0 Net liability for future policy benefits after $ 35,468 $ 9,126 $ 24,469 $ 4,326 $ 564 $ 810 $ 7,003 $ 854 $ 277 $ 793 $ 512 (1) Net premiums collected represent the portion of gross premiums collected from policyholders that is used to fund expected future benefit payments.
Schedule of Weighted-Average Interest Rate and Liability for Future Policy Benefit	The following tables present the weighted-average interest rates and weighted-average liability duration (calculated using the original discount rate) by reporting segment and disaggregated by product type. September 30, 2023 Aflac Japan Aflac U.S. Cancer Medical and Other Health Life Insurance Other Accident Disability Critical Care Hospital Indemnity Dental/Vision Life Insurance Other Weighted-average interest, original discount rate (1) 3.9 % 2.6 % 2.1 % 1.8 % 3.9 % 4.2 % 4.6 % 4.4 % 4.3 % 3.7 % 5.4 % Weighted-average interest, current discount rate (1) 1.8 % 2.3 % 1.7 % 2.0 % 5.4 % 5.4 % 5.4 % 5.4 % 5.4 % 5.4 % 5.4 % Weighted-average liability duration (years) 13.1 25.2 16.4 17.5 8.3 5.5 11.3 9.3 8.0 13.9 9.5 (1) The weighted-average interest rates are calculated using the reserve balances as the weights. No adjustments were made to observable market information. December 31, 2022 Aflac Japan Aflac U.S. Cancer Medical and Other Health Life Insurance Other Accident Disability Critical Care Hospital Indemnity Dental/Vision Life Insurance Other Weighted-average interest, original discount rate (1) 4.1 % 2.6 % 2.1 % 1.8 % 3.8 % 4.2 % 4.6 % 4.4 % 4.3 % 3.7 % 5.4 % Weighted-average interest, current discount rate (1) 1.6 % 2.2 % 1.6 % 1.9 % 4.8 % 4.7 % 4.8 % 4.8 % 4.8 % 4.8 % 4.8 % Weighted-average liability duration (years) 13.7 26.9 17.3 18.2 8.5 5.6 12.0 9.4 8.1 13.1 9.6 (1) The weighted-average interest rates are calculated using the reserve balances as the weights. No adjustments were made to observable market information.
Reconciliation of Future Policy Benefits	The following table presents a reconciliation of the disaggregated rollforwards above to the ending future policy benefits presented in the consolidated balance sheets. The deferred profit liability for limited-payment contracts and the deferred profit liability for reinsurance is presented together with the liability for future policy benefits in the consolidated balance sheets and has been included as a reconciling item in the table below. (In millions) September 30, December 31, 2022 Balances included in future policy benefits rollforward: Aflac Japan Cancer $ 30,716 $ 35,468 Medical and other health 9,699 10,705 Life insurance 21,678 24,469 Other 3,814 4,326 Aflac U.S. Accident 575 564 Disability 754 810 Critical care 6,599 7,003 Hospital indemnity 775 854 Dental/vision 256 277 Life insurance 802 802 Other 480 512 Corporate and other 2,375 686 Deferred profit liability - limited-payment contracts 1,669 1,740 Deferred profit liability - reinsurance 590 692 Intercompany eliminations (1) (2,334) (667) Total $ 78,448 $ 88,241 (1) Elimination entry necessary due to the internal reinsurance transaction with Aflac Re and to recapture a portion of policy liabilities ceded externally as a result of the reinsurance retrocession transaction. See Note 8 for additional details.
Summary of Net Earned Premiums Recognized	The following table summarizes the amount of net earned premiums recognized in the consolidated statements of earnings by reporting segment and disaggregated by product type. Three Months Ended September 30, Nine Months Ended September 30, (In millions) 2023 2022 2023 2022 Net earned premiums: Aflac Japan Cancer $ 1,004 $ 1,106 $ 3,154 $ 3,640 Medical and other health 640 690 2,018 2,253 Life insurance 371 377 1,183 1,360 Other 38 39 113 124 Aflac U.S. Accident 320 324 973 990 Disability 315 293 941 882 Critical care 436 434 1,317 1,319 Hospital indemnity 180 178 547 546 Dental/vision 53 50 160 148 Life insurance 122 99 351 297 Other 13 9 31 29 Corporate and other 83 35 258 112 Reinsurance ceded (99) (99) (309) (321) Total $ 3,476 $ 3,535 $ 10,737 $ 11,379
Summary of Interest Expense Related to Insurance Contracts Recognized	The following table summarizes the amount of interest expense related to insurance contracts recognized in total benefits and claims, net in the consolidated statements of earnings by reporting segment and disaggregated by product type. Three Months Ended September 30, Nine Months Ended September 30, (In millions) 2023 2022 2023 2022 Interest expense: Aflac Japan Cancer $ 243 $ 242 $ 804 $ 868 Medical and other health 63 59 206 210 Life insurance 115 112 378 397 Other 19 18 61 63 Aflac U.S. Accident 6 6 18 18 Disability 8 9 26 27 Critical care 86 87 259 259 Hospital indemnity 10 11 30 31 Dental/vision 3 3 9 10 Life insurance 8 9 27 26 Other 7 7 20 20 Total $ 568 $ 563 $ 1,838 $ 1,929
Summary of Undiscounted and Discounted Expected Future Gross Premiums and Future Benefits and Expenses	The following tables summarize the amount of undiscounted expected future gross premiums and expected future benefits and expenses and discounted (discounted at the current period discount rate) expected future gross premiums and expected future benefits and expenses by reporting segment and disaggregated by product type. Future gross premiums represent the expected amount of future premiums to be received. For limited-payment policies, the premiums are collected over a shorter period than the policy term over which benefits are provided. As a result, once the policy reaches premium paid-up status, the future gross premiums can be significantly less than the future benefit payments. Further, benefits and expenses are generally greater in the later years of a policy. These are the primary factors that result in future gross premiums lower than future benefit and expense payments for certain lines of business of the Company. September 30, 2023 December 31, 2022 (In millions) Gross Benefits and Expenses Gross Premiums Benefits and Expenses Undiscounted expected future gross premiums Aflac Japan Cancer $ 73,299 $ 82,368 $ 75,529 $ 84,246 Medical and other health 48,031 49,223 50,720 50,778 Life insurance 15,926 52,692 16,946 53,271 Other 2,223 9,249 2,322 9,433 Aflac U.S. Accident 9,246 4,595 9,481 4,636 Disability 5,800 3,215 5,858 3,267 Critical care 20,099 20,748 21,069 22,113 Hospital indemnity 5,005 3,058 5,164 3,338 Dental/vision 1,168 726 1,208 759 Life insurance 2,692 3,208 2,375 2,787 Other 509 1,251 333 1,147 Total $ 183,998 $ 230,333 $ 191,005 $ 235,775 September 30, 2023 December 31, 2022 (In millions) Gross Premiums Benefits and Expenses Gross Premiums Benefits and Expenses Discounted expected future gross premiums Aflac Japan Cancer $ 45,569 $ 47,209 $ 53,278 $ 54,766 Medical and other health 29,117 23,593 34,693 27,419 Life insurance 10,780 27,928 12,951 31,954 Other 1,438 4,856 1,697 5,582 Aflac U.S. Accident 6,144 2,964 6,510 3,098 Disability 4,319 2,351 4,468 2,445 Critical care 11,752 10,460 12,659 11,489 Hospital indemnity 3,301 1,847 3,483 2,074 Dental/vision 768 450 821 488 Life insurance 1,797 1,608 1,663 1,526 Other 316 652 228 622 Total $ 115,301 $ 123,918 $ 132,451 $ 141,463
Schedule of Changes in Other Policyholders' Funds	The following table presents the changes in other policyholders’ funds. (In millions) September 30, December 31, 2022 Other policyholders' funds: Fixed annuities account balance, beginning of period (1) $ 6,423 $ 7,410 Premiums received 90 150 Transfers from WAYS conversions 162 214 Surrenders and withdrawals (40) (52) Benefit payments (296) (367) Interest credited 37 57 Foreign currency translation and other (724) (989) Fixed annuities account balance, end of period 5,652 6,423 Other deposit type reserves 232 220 Total $ 5,884 $ 6,643 (1) Aflac Japan fixed annuities
Schedule of Other Policyholders' Funds by Guaranteed Crediting Rates	The following table presents other policyholders’ funds balances by range of guaranteed crediting rates. September 30, 2023 December 31, 2022 (In millions) Range of Guaranteed Minimum Crediting Rates (2) At Guaranteed Minimum Cash Surrender Value Range of Guaranteed Minimum Crediting Rates (2) At Guaranteed Minimum Cash Surrender Value Fixed annuities (1) 0.5% - 2.3% $5,652 $5,564 0.5% - 2.3% $6,423 $6,326 (1) Aflac Japan fixed annuities (2) Weighted-average crediting rate of 1.5% at September 30, 2023 and December 31, 2022.

REINSURANCE (Tables)

REINSURANCE (Tables)	9 Months Ended
	Sep. 30, 2023
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 and the elimination of inter-segment amounts associated with affiliated reinsurance. Three Months Ended September 30, Nine Months Ended September 30, (In millions) 2023 2022 2023 2022 Direct earned premiums $ 3,524 $ 3,565 $ 10,885 $ 11,472 Ceded to other companies: Ceded Aflac Japan closed blocks (75) (80) (240) (266) Other (24) (19) (69) (55) Assumed from other companies: Retrocession activities 33 35 96 112 Other 18 34 65 116 Net earned premiums $ 3,476 $ 3,535 $ 10,737 $ 11,379 Direct benefits and claims, excluding reserve remeasurement $ 2,106 $ 2,178 $ 6,545 $ 7,029 Reserve remeasurement (gains) losses (219) (73) (327) (132) Total direct benefits and claims 1,887 2,105 6,218 6,897 Ceded benefits and change in reserves for future benefits: Ceded Aflac Japan closed blocks (71) (72) (222) (237) Reserve remeasurement (gains) losses 14 (20) 15 (20) Eliminations 42 2 125 11 Other (49) (2) (154) (21) Assumed from other companies: Retrocession activities 29 41 90 119 Eliminations (44) (3) (120) (20) Other 52 25 156 104 Total benefits and claims, net $ 1,860 $ 2,076 $ 6,108 $ 6,833 Prior-year amounts have been adjusted for the adoption of accounting guidance on January 1, 2023 related to accounting for long-duration insurance contracts.

NOTES PAYABLE AND LEASE OBLIG_2

NOTES PAYABLE AND LEASE OBLIGATIONS (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	A summary of notes payable and lease obligations follows: (In millions) September 30, December 31, 1.125% senior sustainability notes due March 2026 $ 398 $ 397 2.875% senior notes due October 2026 299 298 3.60% senior notes due April 2030 993 992 6.90% senior notes due December 2039 221 221 6.45% senior notes due August 2040 254 254 4.00% senior notes due October 2046 394 394 4.750% senior notes due January 2049 542 541 Yen-denominated senior notes and subordinated debentures: .300% senior notes due September 2025 (principal amount ¥12.4 billion) 83 93 .932% senior notes due January 2027 (principal amount ¥60.0 billion) 400 450 1.075% senior notes due September 2029 (principal amount ¥33.4 billion) 222 250 .500% senior notes due December 2029 (principal amount ¥12.6 billion) 84 95 .550% senior notes due March 2030 (principal amount ¥13.3 billion) 88 99 1.159% senior notes due October 2030 (principal amount ¥29.3 billion) 195 220 .633% senior notes due April 2031 (principal amount ¥30.0 billion) 200 225 .843% senior notes due December 2031 (principal amount ¥9.3 billion) 62 70 .750% senior notes due March 2032 (principal amount ¥20.7 billion) 137 155 1.320% senior notes due December 2032 (principal amount ¥21.1 billion) 140 158 .844% senior notes due April 2033 (principal amount ¥12.0 billion) 80 90 1.488% senior notes due October 2033 (principal amount ¥15.2 billion) 101 114 .934% senior notes due December 2034 (principal amount ¥9.8 billion) 65 73 .830% senior notes due March 2035 (principal amount ¥10.6 billion) 70 79 1.039% senior notes due April 2036 (principal amount ¥10.0 billion) 66 75 1.594% senior notes due September 2037 (principal amount ¥6.5 billion) 42 49 1.750% senior notes due October 2038 (principal amount ¥8.9 billion) 59 66 1.122% senior notes due December 2039 (principal amount ¥6.3 billion) 42 47 1.264% senior notes due April 2041 (principal amount ¥10.0 billion) 66 75 2.108% subordinated debentures due October 2047 (principal amount ¥60.0 billion) 397 448 .963% subordinated bonds due April 2049 (principal amount ¥30.0 billion) 200 226 1.560% senior notes due April 2051 (principal amount ¥20.0 billion) 132 149 2.144% senior notes due September 2052 (principal amount ¥12.0 billion) 79 90 Yen-denominated loans: Variable interest rate loan due August 2027 (.35% in 2023 and .33% in 2022, principal amount ¥11.7 billion) 78 88 Variable interest rate loan due August 2029 (.45% in 2023 and .43% in 2022, principal amount ¥25.3 billion) 169 190 Variable interest rate loan due August 2032 (.60% in 2023 and .58% in 2022, principal amount ¥70.0 billion) 466 524 Finance lease obligations payable through 2030 7 8 Operating lease obligations payable through 2049 130 139 Total notes payable and lease obligations $ 6,961 $ 7,442 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 Line of Credit Facilities	A summary of the Company's lines of credit as of September 30, 2023 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) Tokyo Interbank Market Rate (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 SOFR for the interest period relevant to such borrowing or (b) the base rate determined by reference to the highest of (1) the lender's USD short-term commercial loan rate and (2) the federal funds rate plus 1/2 of 1% Up to 3 months None General corporate purposes Aflac (1) uncommitted revolving 364 days November 30, 2023 $250 million $0 million Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 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 yen 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 yen 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 8, $25 million $0 million Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 75 basis points per annum No later than None General corporate purposes CAIC (1) uncommitted revolving 364 days March 21, $15 million $0 million Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 75 basis points per annum No later than 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 Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 75 basis points per annum No later than None General corporate purposes Hatch Healthcare K.K. (1) uncommitted revolving 364 days January 3, ¥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, 2024 None General corporate purposes Aflac Digital Services Co., Ltd. (formerly known as Hatch Insight K.K.) (1) uncommitted revolving 364 days January 3, ¥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, 2024 None General corporate purposes Aflac GI Holdings LLC (1) uncommitted revolving 364 days July 16, $30 million $0 million Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 75 basis points per annum No later than None General corporate purposes Aflac Incorporated (1) uncommitted revolving 364 days January 2, $400 million $0 million Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 97 basis points per annum for U.S. dollar denominated borrowings or three-month TIBOR plus 97 basis points per annum for Japanese yen denominated borrowings No later than January 3, 2024 None General corporate purposes Aflac Re Bermuda Ltd. (1) uncommitted revolving 364 days January 2, $400 million $0 million Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 68 basis points per annum for U.S. dollar denominated borrowings or three-month TIBOR plus 68 basis points per annum for Japanese yen denominated borrowings No later than January 3, 2024 None General corporate purposes (1) Intercompany credit agreement

SHAREHOLDERS' EQUITY (Tables)

SHAREHOLDERS' EQUITY (Tables)	9 Months Ended
	Sep. 30, 2023
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 nine-month periods ended September 30. (In thousands of shares) 2023 2022 Common stock - issued: Balance, beginning of period 1,354,079 1,352,739 Exercise of stock options and issuance of restricted shares 1,233 1,230 Balance, end of period 1,355,312 1,353,969 Treasury stock: Balance, beginning of period 738,823 700,607 Purchases of treasury stock: Share repurchase program 30,199 30,249 Other 360 354 Dispositions of treasury stock: Shares issued to AFL Stock Plan (707) (787) Exercise of stock options (81) (108) Other (179) (214) Balance, end of period 768,415 730,101 Shares outstanding, end of period 586,897 623,868
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 for the following periods. Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2023 2022 2023 2022 Anti-dilutive share-based awards 0 53 68 158
Changes in Accumulated Other Comprehensive Income (Loss)	The tables below are reconciliations of accumulated other comprehensive income by component for the following periods. Changes in Accumulated Other Comprehensive Income Three Months Ended September 30, 2023 (In millions) Unrealized Foreign Unrealized Unrealized Effect of Changes in Discount Rate Assumptions Pension Total Balance at June 30, 2023 $ (4,249) $ 1,978 $ (25) $ (5,059) $ 17 $ (7,338) Other comprehensive (235) (2,349) 0 4,193 0 1,609 Amounts reclassified from 0 (32) 1 0 0 (31) Net current-period other (235) (2,381) 1 4,193 0 1,578 Balance at September 30, 2023 $ (4,484) $ (403) $ (24) $ (866) $ 17 $ (5,760) All amounts in the table above are net of tax. Three Months Ended September 30, 2022 (In millions) Unrealized Foreign Unrealized Unrealized Effect of Changes in Discount Rate Assumptions Pension Liability Adjustment Total Balance at June 30, 2022 $ (3,218) $ 2,930 $ (29) $ (6,503) $ (160) $ (6,980) Other comprehensive (1,156) (1,753) (1) 2,428 (4) (486) Amounts reclassified from 0 (46) 1 0 6 (39) Net current-period other (1,156) (1,799) 0 2,428 2 (525) Balance at September 30, 2022 $ (4,374) $ 1,131 $ (29) $ (4,075) $ (158) $ (7,505) All amounts in the table above are net of tax. Prior-year amounts have been adjusted for the adoption of accounting guidance on January 1, 2023 related to accounting for long-duration insurance contracts. Nine Months Ended September 30, 2023 (In millions) Unrealized Foreign Unrealized Unrealized Effect of Changes in Discount Rate Assumptions Pension Total Balance at December 31, 2022 $ (3,564) $ (702) $ (27) $ (2,100) $ (36) $ (6,429) Other comprehensive (920) 398 0 1,234 52 764 Amounts reclassified from 0 (99) 3 0 1 (95) Net current-period other (920) 299 3 1,234 53 669 Balance at September 30, 2023 $ (4,484) $ (403) $ (24) $ (866) $ 17 $ (5,760) All amounts in the table above are net of tax. Prior-year amounts have been adjusted for the adoption of accounting guidance on January 1, 2023 related to accounting for long-duration insurance contracts. Nine Months Ended September 30, 2022 (In millions) Unrealized Foreign Unrealized Unrealized Effect of Changes in Discount Rate Assumptions Pension Liability Adjustment Total Balance at December 31, 2021 $ (1,985) $ 9,602 $ (30) $ (15,832) $ (166) $ (8,411) Other comprehensive (2,389) (8,272) (1) 11,757 (6) 1,089 Amounts reclassified from 0 (199) 2 0 14 (183) Net current-period other (2,389) (8,471) 1 11,757 8 906 Balance at September 30, 2022 $ (4,374) $ 1,131 $ (29) $ (4,075) $ (158) $ (7,505) All amounts in the table above are net of tax. Prior-year amounts have been adjusted for the adoption of accounting guidance on January 1, 2023 related to accounting for long-duration insurance contracts.
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 following periods. Reclassifications Out of Accumulated Other Comprehensive Income (In millions) Three Months Ended September 30, 2023 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 $ 41 Net investment gains (losses) (9) Tax (expense) or benefit (1) $ 32 Net of tax Unrealized gains (losses) on derivatives $ (1) Net investment gains (losses) 0 Tax (expense) or benefit (1) $ (1) Net of tax Amortization of defined benefit pension items: Actuarial gains (losses) $ 0 Acquisition and operating expenses (2) Prior service (cost) credit 0 Acquisition and operating expenses (2) 0 Tax (expense) or benefit (1) $ 0 Net of tax Total reclassifications for the period $ 31 Net of tax (1) Based on 21% tax rate (2) These accumulated other comprehensive income components are included in the computation of net periodic benefit cost (see Note 12 for additional details). (In millions) Three Months Ended September 30, 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 $ 58 Net investment gains (losses) (12) Tax (expense) or benefit (1) $ 46 Net of tax Unrealized gains (losses) on derivatives $ (1) Net investment gains (losses) 0 Tax (expense) or benefit (1) $ (1) Net of tax Amortization of defined benefit pension items: Actuarial gains (losses) $ (7) Acquisition and operating expenses (2) Prior service (cost) credit 0 Acquisition and operating expenses (2) 1 Tax (expense) or benefit (1) $ (6) Net of tax Total reclassifications for the period $ 39 Net of tax (1) Based on 21% tax rate (2) These accumulated other comprehensive income components are included in the computation of net periodic benefit cost (see Note 12 for additional details). (In millions) Nine Months Ended September 30, 2023 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 $ 125 Net investment gains (losses) (26) Tax (expense) or benefit (1) $ 99 Net of tax Unrealized gains (losses) on derivatives $ (3) Net investment gains (losses) (1) Net investment income (4) Total before tax 1 Tax (expense) or benefit (1) $ (3) Net of tax Amortization of defined benefit pension items: Actuarial gains (losses) $ (1) Acquisition and operating expenses (2) Prior service (cost) credit 0 Acquisition and operating expenses (2) 0 Tax (expense) or benefit (1) $ (1) Net of tax Total reclassifications for the period $ 95 Net of tax (1) Based on 21% tax rate (2) These accumulated other comprehensive income components are included in the computation of net periodic benefit cost (see Note 12 for additional details). (In millions) Nine Months Ended September 30, 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 $ 252 Net investment gains (losses) (53) Tax (expense) or benefit (1) $ 199 Net of tax Unrealized gains (losses) on derivatives $ (3) Net investment gains (losses) 1 Tax (expense) or benefit (1) $ (2) Net of tax Amortization of defined benefit pension items: Actuarial gains (losses) $ (18) Acquisition and operating expenses (2) Prior service (cost) credit 0 Acquisition and operating expenses (2) 4 Tax (expense) or benefit (1) $ (14) Net of tax Total reclassifications for the period $ 183 Net of tax (1) Based on 21% tax rate (2) These accumulated other comprehensive income components are included in the computation of net periodic benefit cost (see Note 12 for additional details).

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock Options Outstanding and Exercisable	The following table provides information on stock options outstanding and exercisable at September 30, 2023. Stock Weighted-Average Aggregate Weighted-Average Outstanding 1,131 2.4 $ 50 $ 32.88 Exercisable 1,131 2.4 50 32.88
Schedule of Nonvested Restricted Stock Units Activity	The following table summarizes restricted stock activity during the nine-month period ended September 30, 2023. (In thousands of shares) Shares Weighted-Average Restricted stock at December 31, 2022 2,414 $ 56.21 Granted in 2023 1,145 70.58 Canceled in 2023 (82) 60.10 Vested in 2023 (1,151) 52.80 Restricted stock at September 30, 2023 2,326 $ 62.77

BENEFIT PLANS (Tables)

BENEFIT PLANS (Tables)	9 Months Ended
	Sep. 30, 2023
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Schedule of Net Benefit Costs	Pension and other postretirement benefit expenses are included in acquisition and operating expenses in the consolidated statements of earnings, which includes other components of net periodic pension cost and postretirement costs (other than service costs) of $2 million and $5 million for the three-month periods and $(41) million and $11 million for the nine-month periods ended September 30, 2023 and 2022, respectively. Total net periodic benefit cost includes the following components: Three Months Ended September 30, Pension Benefits Other Japan U.S. Postretirement Benefits (In millions) 2023 2022 2023 2022 2023 2022 Components of net periodic Service cost $ 4 $ 5 $ 0 $ 6 $ 0 $ 0 Interest cost 2 1 10 9 0 1 Expected return on plan assets (2) (2) (8) (11) 0 0 Amortization of net actuarial loss 0 0 0 6 0 1 Curtailment (gain) loss 0 0 0 0 0 0 Net periodic (benefit) cost $ 4 $ 4 $ 2 $ 10 $ 0 $ 2 Nine Months Ended September 30, Pension Benefits Other Japan U.S. Postretirement Benefits (In millions) 2023 2022 2023 2022 2023 2022 Components of net periodic Service cost $ 11 $ 15 $ 7 $ 19 $ 0 $ 0 Interest cost 6 4 31 26 1 1 Expected return on plan assets (5) (6) (26) (32) 0 0 Amortization of net actuarial loss 0 0 0 16 1 2 Curtailment (gain) loss 0 0 (49) 0 0 0 Net periodic (benefit) cost $ 12 $ 13 $ (37) $ 29 $ 2 $ 3

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Impact from Adoption to Shareholder's Equity (Details) - USD ($) $ in Millions	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
Total shareholders’ equity	$ 22,669	$ 20,439	$ 19,784	$ 20,140	$ 19,946	$ 19,558	$ 17,560	$ 17,031		$ 33,559
Common Stock [Member]
Total shareholders’ equity	136	136	135	135	135	135	135	135		135
Additional Paid-in Capital
Total shareholders’ equity	2,729	2,697	2,665	2,641	2,615	2,589	2,560	2,529		2,410
Retained Earnings
Total shareholders’ equity	48,257	46,937	45,555	44,367	44,680	43,150	42,010	40,963		37,984
Accumulated Other Comprehensive Income (Loss)
Total shareholders’ equity	(5,760)	(7,338)	(7,278)	(6,429)	(7,505)	(6,980)	(8,451)	(8,411)		8,934
Treasury Stock
Total shareholders’ equity	$ (22,693)	$ (21,993)	$ (21,293)	$ (20,574)	$ (19,979)	$ (19,336)	$ (18,694)	$ (18,185)		$ (15,904)
Accounting Standards Update 2018-12 | Cumulative Effect, Period of Adoption, Adjustment
Total shareholders’ equity									$ (18,894)
Accounting Standards Update 2018-12 | Cumulative Effect, Period of Adoption, Adjustment | Common Stock [Member]
Total shareholders’ equity									0
Accounting Standards Update 2018-12 | Cumulative Effect, Period of Adoption, Adjustment | Additional Paid-in Capital
Total shareholders’ equity									0
Accounting Standards Update 2018-12 | Cumulative Effect, Period of Adoption, Adjustment | Retained Earnings
Total shareholders’ equity									(324)
Accounting Standards Update 2018-12 | Cumulative Effect, Period of Adoption, Adjustment | Accumulated Other Comprehensive Income (Loss)
Total shareholders’ equity									(18,570)
Accounting Standards Update 2018-12 | Cumulative Effect, Period of Adoption, Adjustment | Treasury Stock
Total shareholders’ equity									0
Accounting Standards Update 2018-12 | Cumulative Effect, Period of Adoption, Adjusted Balance
Total shareholders’ equity									14,665
Accounting Standards Update 2018-12 | Cumulative Effect, Period of Adoption, Adjusted Balance | Common Stock [Member]
Total shareholders’ equity									135
Accounting Standards Update 2018-12 | Cumulative Effect, Period of Adoption, Adjusted Balance | Additional Paid-in Capital
Total shareholders’ equity									2,410
Accounting Standards Update 2018-12 | Cumulative Effect, Period of Adoption, Adjusted Balance | Retained Earnings
Total shareholders’ equity									37,660
Accounting Standards Update 2018-12 | Cumulative Effect, Period of Adoption, Adjusted Balance | Accumulated Other Comprehensive Income (Loss)
Total shareholders’ equity									(9,636)
Accounting Standards Update 2018-12 | Cumulative Effect, Period of Adoption, Adjusted Balance | Treasury Stock
Total shareholders’ equity									$ (15,904)

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -Schedule of Impact from Adoption to AOCI and Retained Earnings (Details) - USD ($) $ in Millions		Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
Total transition impact, net of income taxes		$ (22,669)	$ (20,439)	$ (19,784)	$ (20,140)	$ (19,946)	$ (19,558)	$ (17,560)	$ (17,031)		$ (33,559)
Retained Earnings
Total transition impact, net of income taxes		(48,257)	(46,937)	(45,555)	(44,367)	(44,680)	(43,150)	(42,010)	(40,963)		(37,984)
Accumulated Other Comprehensive Income (Loss)
Total transition impact, net of income taxes		$ 5,760	$ 7,338	$ 7,278	$ 6,429	$ 7,505	$ 6,980	$ 8,451	$ 8,411		$ (8,934)
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2018-12
Total transition impact, net of income taxes										$ 18,894
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2018-12 | Retained Earnings
Transition impact before income taxes										410
Less: income taxes										86
Total transition impact, net of income taxes										324
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2018-12 | Retained Earnings | Corporate and other
Transition impact before income taxes										0
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2018-12 | Retained Earnings | Cancer | Aflac Japan
Transition impact before income taxes										0
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2018-12 | Retained Earnings | Medical and other health | Aflac Japan
Transition impact before income taxes										1
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2018-12 | Retained Earnings | Life insurance | Aflac Japan
Transition impact before income taxes										0
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2018-12 | Retained Earnings | Life insurance | Aflac U.S.
Transition impact before income taxes										5
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2018-12 | Retained Earnings | Other | Aflac Japan
Transition impact before income taxes	[1]									398
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2018-12 | Retained Earnings | Other | Aflac U.S.
Transition impact before income taxes										2
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2018-12 | Retained Earnings | Accident | Aflac U.S.
Transition impact before income taxes										0
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2018-12 | Retained Earnings | Disability | Aflac U.S.
Transition impact before income taxes										0
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2018-12 | Retained Earnings | Critical Care | Aflac U.S.
Transition impact before income taxes										4
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2018-12 | Retained Earnings | Hospital Indemnity | Aflac U.S.
Transition impact before income taxes										0
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2018-12 | Retained Earnings | Dental/Vision | Aflac U.S.
Transition impact before income taxes										0
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2018-12 | Accumulated Other Comprehensive Income (Loss)
Transition impact before income taxes										23,507
Less: income taxes										4,937
Total transition impact, net of income taxes										18,570
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2018-12 | Accumulated Other Comprehensive Income (Loss) | Corporate and other
Transition impact before income taxes										(305)
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2018-12 | Accumulated Other Comprehensive Income (Loss) | Cancer | Aflac Japan
Transition impact before income taxes										14,529
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2018-12 | Accumulated Other Comprehensive Income (Loss) | Medical and other health | Aflac Japan
Transition impact before income taxes										2,382
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2018-12 | Accumulated Other Comprehensive Income (Loss) | Life insurance | Aflac Japan
Transition impact before income taxes										3,314
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2018-12 | Accumulated Other Comprehensive Income (Loss) | Life insurance | Aflac U.S.
Transition impact before income taxes										149
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2018-12 | Accumulated Other Comprehensive Income (Loss) | Other | Aflac Japan
Transition impact before income taxes	[1]									433
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2018-12 | Accumulated Other Comprehensive Income (Loss) | Other | Aflac U.S.
Transition impact before income taxes										218
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2018-12 | Accumulated Other Comprehensive Income (Loss) | Accident | Aflac U.S.
Transition impact before income taxes										92
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2018-12 | Accumulated Other Comprehensive Income (Loss) | Disability | Aflac U.S.
Transition impact before income taxes										149
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2018-12 | Accumulated Other Comprehensive Income (Loss) | Critical Care | Aflac U.S.
Transition impact before income taxes										2,258
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2018-12 | Accumulated Other Comprehensive Income (Loss) | Hospital Indemnity | Aflac U.S.
Transition impact before income taxes										223
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2018-12 | Accumulated Other Comprehensive Income (Loss) | Dental/Vision | Aflac U.S.
Transition impact before income taxes										$ 65
[1]Impact to retained earnings is driven primarily by capping the Transition Date NPR on Care products.

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Impact from Adoption to Liability For Future Policy Benefit, Expected Net Premium (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2021	Jan. 01, 2021		Dec. 31, 2020
Cancer | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance	$ 15,670	$ 18,221	$ 22,470
Effect of changes in discount rate assumptions	823	1,077
Ending balance	16,493	19,298	25,893
Medical and other health | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance	13,445	16,195	18,681
Effect of changes in discount rate assumptions	449	519
Ending balance	13,894	16,714	21,174
Life insurance | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance	6,079	7,284	10,064
Effect of changes in discount rate assumptions	171	201
Ending balance	6,250	7,485	10,847
Life insurance | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance	911	799	780
Effect of changes in discount rate assumptions	(105)	(75)
Ending balance	806	724	834
Other | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance	1,033	1,242	1,461
Effect of changes in discount rate assumptions	9	14
Ending balance	1,042	1,256	1,586
Other | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance	187	118	135
Effect of changes in discount rate assumptions	(15)	(8)
Ending balance	172	110	153
Accident | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance	2,672	2,760	2,999
Effect of changes in discount rate assumptions	(283)	(226)
Ending balance	2,389	2,534	3,283
Disability | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance	1,759	1,775	1,760
Effect of changes in discount rate assumptions	(162)	(140)
Ending balance	1,597	1,635	1,862
Critical Care | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance	4,491	5,050	5,391
Effect of changes in discount rate assumptions	(630)	(564)
Ending balance	3,861	4,486	6,023
Hospital Indemnity | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance	1,222	1,365	1,380
Effect of changes in discount rate assumptions	(150)	(145)
Ending balance	1,072	1,220	1,467
Dental/Vision | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance	217	231	241
Effect of changes in discount rate assumptions	(23)	(20)
Ending balance	$ 194	$ 211	264
Accounting Standards Update 2018-12 | Cancer | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance			22,470	$ 25,616	[1]
Effect of changes in discount rate assumptions			3,423
Ending balance			25,893	29,598
Accounting Standards Update 2018-12 | Medical and other health | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance			18,681	21,276	[1]
Effect of changes in discount rate assumptions			2,493
Ending balance			21,174	23,874
Accounting Standards Update 2018-12 | Life insurance | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance			10,064	12,476	[1]
Effect of changes in discount rate assumptions			783
Ending balance			10,847	13,384
Accounting Standards Update 2018-12 | Life insurance | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance			780	705	[1]
Effect of changes in discount rate assumptions			54
Ending balance			834	783
Accounting Standards Update 2018-12 | Other | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance			1,461	1,708	[1]
Effect of changes in discount rate assumptions			125
Ending balance			1,586	1,856
Accounting Standards Update 2018-12 | Other | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance			135	152	[1]
Effect of changes in discount rate assumptions			18
Ending balance			153	179
Accounting Standards Update 2018-12 | Accident | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance			2,999	3,350	[1]
Effect of changes in discount rate assumptions			284
Ending balance			3,283	3,829
Accounting Standards Update 2018-12 | Disability | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance			1,760	1,921	[1]
Effect of changes in discount rate assumptions			102
Ending balance			1,862	2,118
Accounting Standards Update 2018-12 | Critical Care | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance			5,391	5,894	[1]
Effect of changes in discount rate assumptions			632
Ending balance			6,023	6,942
Accounting Standards Update 2018-12 | Hospital Indemnity | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance			1,380	1,376	[1]
Effect of changes in discount rate assumptions			87
Ending balance			1,467	1,530
Accounting Standards Update 2018-12 | Dental/Vision | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance			241	281	[1]
Effect of changes in discount rate assumptions			23
Ending balance			$ 264	322
Accounting Standards Update 2018-12 | As Previously Reported | Cancer | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance						$ 25,601
Accounting Standards Update 2018-12 | As Previously Reported | Medical and other health | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance						21,270
Accounting Standards Update 2018-12 | As Previously Reported | Life insurance | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance						12,440
Accounting Standards Update 2018-12 | As Previously Reported | Life insurance | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance						710
Accounting Standards Update 2018-12 | As Previously Reported | Other | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance						2,080
Accounting Standards Update 2018-12 | As Previously Reported | Other | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance						154
Accounting Standards Update 2018-12 | As Previously Reported | Accident | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance						3,350
Accounting Standards Update 2018-12 | As Previously Reported | Disability | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance						1,921
Accounting Standards Update 2018-12 | As Previously Reported | Critical Care | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance						5,898
Accounting Standards Update 2018-12 | As Previously Reported | Hospital Indemnity | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance						1,376
Accounting Standards Update 2018-12 | As Previously Reported | Dental/Vision | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance						281
Accounting Standards Update 2018-12 | Revision of Prior Period, Accounting Standards Update, Adjustment | Cancer | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance						25,616
Impact of capping net premium ratio to retained earnings						0
Impact of deferred profit liability						15
Effect of changes in discount rate assumptions				3,982
Accounting Standards Update 2018-12 | Revision of Prior Period, Accounting Standards Update, Adjustment | Medical and other health | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance						21,276
Impact of capping net premium ratio to retained earnings						(1)
Impact of deferred profit liability						7
Effect of changes in discount rate assumptions				2,598
Accounting Standards Update 2018-12 | Revision of Prior Period, Accounting Standards Update, Adjustment | Life insurance | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance						12,476
Impact of capping net premium ratio to retained earnings						0
Impact of deferred profit liability						36
Effect of changes in discount rate assumptions				908
Accounting Standards Update 2018-12 | Revision of Prior Period, Accounting Standards Update, Adjustment | Life insurance | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance						705
Impact of capping net premium ratio to retained earnings						(5)
Impact of deferred profit liability						0
Effect of changes in discount rate assumptions				78
Accounting Standards Update 2018-12 | Revision of Prior Period, Accounting Standards Update, Adjustment | Other | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance						1,708
Impact of capping net premium ratio to retained earnings						(398)
Impact of deferred profit liability						26
Effect of changes in discount rate assumptions				148
Accounting Standards Update 2018-12 | Revision of Prior Period, Accounting Standards Update, Adjustment | Other | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance						152
Impact of capping net premium ratio to retained earnings						(2)
Impact of deferred profit liability						0
Effect of changes in discount rate assumptions				27
Accounting Standards Update 2018-12 | Revision of Prior Period, Accounting Standards Update, Adjustment | Accident | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance						3,350
Impact of capping net premium ratio to retained earnings						0
Impact of deferred profit liability						0
Effect of changes in discount rate assumptions				479
Accounting Standards Update 2018-12 | Revision of Prior Period, Accounting Standards Update, Adjustment | Disability | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance						1,921
Impact of capping net premium ratio to retained earnings						0
Impact of deferred profit liability						0
Effect of changes in discount rate assumptions				197
Accounting Standards Update 2018-12 | Revision of Prior Period, Accounting Standards Update, Adjustment | Critical Care | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance						5,894
Impact of capping net premium ratio to retained earnings						(4)
Impact of deferred profit liability						0
Effect of changes in discount rate assumptions				1,048
Accounting Standards Update 2018-12 | Revision of Prior Period, Accounting Standards Update, Adjustment | Hospital Indemnity | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance						1,376
Impact of capping net premium ratio to retained earnings						0
Impact of deferred profit liability						0
Effect of changes in discount rate assumptions				154
Accounting Standards Update 2018-12 | Revision of Prior Period, Accounting Standards Update, Adjustment | Dental/Vision | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance						281
Impact of capping net premium ratio to retained earnings						0
Impact of deferred profit liability						$ 0
Effect of changes in discount rate assumptions				$ 41
[1]Includes the adjustment for capping the Transition Date NPR.

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Liability For Future Policy Benefit, Expected Net Premium, Activity (Details) - USD ($) $ in Millions		9 Months Ended	12 Months Ended
		Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2021	Jan. 01, 2021
Cancer | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance		$ 19,298	$ 25,893
Beginning balance at original discount rate		18,221	22,470
Effect of changes in cash flow assumptions			(166)	$ (639)
Effect of actual variances from expected experience			(261)	(284)
Adjusted beginning of period balance			17,794	21,547
Issuances		770	947
Interest accrual		312	459
Net premiums collected	[1]	(1,182)	(1,734)
Foreign currency translation		(2,023)	(2,997)
Other		(1)	(1)
Ending balance at original discount rate		15,670	18,221	22,470
Effect of changes in discount rate assumptions		823	1,077
Ending balance		16,493	19,298	25,893
Cancer | Aflac Japan | Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance			25,893
Beginning balance at original discount rate			22,470
Effect of changes in cash flow assumptions					$ 32
Effect of actual variances from expected experience					(134)
Adjusted beginning of period balance					25,514
Issuances				1,116
Interest accrual				586
Net premiums collected	[2]			(2,206)
Foreign currency translation				(2,539)
Other				(1)
Ending balance at original discount rate				22,470
Effect of changes in discount rate assumptions				3,423
Ending balance				25,893
Medical and other health | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance		16,714	21,174
Beginning balance at original discount rate		16,195	18,681
Effect of changes in cash flow assumptions			(473)	317
Effect of actual variances from expected experience			(90)	61
Adjusted beginning of period balance			15,632	19,059
Issuances		285	639
Interest accrual		255	364
Net premiums collected	[1]	(959)	(1,376)
Foreign currency translation		(1,767)	(2,488)
Other		(1)	(3)
Ending balance at original discount rate		13,445	16,195	18,681
Effect of changes in discount rate assumptions		449	519
Ending balance		13,894	16,714	21,174
Medical and other health | Aflac Japan | Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance			21,174
Beginning balance at original discount rate			18,681
Effect of changes in cash flow assumptions					88
Effect of actual variances from expected experience					(449)
Adjusted beginning of period balance					20,915
Issuances				1,132
Interest accrual				439
Net premiums collected	[2]			(1,692)
Foreign currency translation				(2,111)
Other				(2)
Ending balance at original discount rate				18,681
Effect of changes in discount rate assumptions				2,493
Ending balance				21,174
Life insurance | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance		7,485	10,847
Beginning balance at original discount rate		7,284	10,064
Effect of changes in cash flow assumptions			44	(494)
Effect of actual variances from expected experience			(34)	(81)
Adjusted beginning of period balance			7,294	9,489
Issuances		267	221
Interest accrual		94	146
Net premiums collected	[1]	(778)	(1,229)
Foreign currency translation		(798)	(1,343)
Other		0	0
Ending balance at original discount rate		6,079	7,284	10,064
Effect of changes in discount rate assumptions		171	201
Ending balance		6,250	7,485	10,847
Life insurance | Aflac Japan | Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance			10,847
Beginning balance at original discount rate			10,064
Effect of changes in cash flow assumptions					40
Effect of actual variances from expected experience					(135)
Adjusted beginning of period balance					12,381
Issuances				284
Interest accrual				202
Net premiums collected	[2]			(1,609)
Foreign currency translation				(1,194)
Other				0
Ending balance at original discount rate				10,064
Effect of changes in discount rate assumptions				783
Ending balance				10,847
Life insurance | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance		724	834
Beginning balance at original discount rate		799	780
Effect of changes in cash flow assumptions			61	(1)
Effect of actual variances from expected experience			(9)	(16)
Adjusted beginning of period balance			851	763
Issuances		137	146
Interest accrual		23	27
Net premiums collected	[1]	(101)	(131)
Foreign currency translation		0	0
Other		1	(6)
Ending balance at original discount rate		911	799	780
Effect of changes in discount rate assumptions		(105)	(75)
Ending balance		806	724	834
Life insurance | Aflac U.S. | Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance			834
Beginning balance at original discount rate			780
Effect of changes in cash flow assumptions					31
Effect of actual variances from expected experience					34
Adjusted beginning of period balance					770
Issuances				112
Interest accrual				25
Net premiums collected	[2]			(124)
Foreign currency translation				0
Other				(3)
Ending balance at original discount rate				780
Effect of changes in discount rate assumptions				54
Ending balance				834
Other | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance		1,256	1,586
Beginning balance at original discount rate		1,242	1,461
Effect of changes in cash flow assumptions			(12)	25
Effect of actual variances from expected experience			(9)	(10)
Adjusted beginning of period balance			1,221	1,476
Issuances		19	62
Interest accrual		15	22
Net premiums collected	[1]	(85)	(123)
Foreign currency translation		(137)	(195)
Other		0	0
Ending balance at original discount rate		1,033	1,242	1,461
Effect of changes in discount rate assumptions		9	14
Ending balance		1,042	1,256	1,586
Other | Aflac Japan | Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance			1,586
Beginning balance at original discount rate			1,461
Effect of changes in cash flow assumptions					1
Effect of actual variances from expected experience					(11)
Adjusted beginning of period balance					1,698
Issuances				55
Interest accrual				27
Net premiums collected	[2]			(151)
Foreign currency translation				(167)
Other				(1)
Ending balance at original discount rate				1,461
Effect of changes in discount rate assumptions				125
Ending balance				1,586
Other | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance		110	153
Beginning balance at original discount rate		118	135
Effect of changes in cash flow assumptions			(9)	(12)
Effect of actual variances from expected experience			2	6
Adjusted beginning of period balance			111	129
Issuances		76	0
Interest accrual		4	5
Net premiums collected	[1]	(12)	(17)
Foreign currency translation		0	0
Other		8	1
Ending balance at original discount rate		187	118	135
Effect of changes in discount rate assumptions		(15)	(8)
Ending balance		172	110	153
Other | Aflac U.S. | Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance			153
Beginning balance at original discount rate			135
Effect of changes in cash flow assumptions					0
Effect of actual variances from expected experience					(3)
Adjusted beginning of period balance					149
Issuances				0
Interest accrual				6
Net premiums collected	[2]			(19)
Foreign currency translation				0
Other				(1)
Ending balance at original discount rate				135
Effect of changes in discount rate assumptions				18
Ending balance				153
Accident | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance		2,534	3,283
Beginning balance at original discount rate		2,760	2,999
Effect of changes in cash flow assumptions			(16)	(52)
Effect of actual variances from expected experience			(44)	(152)
Adjusted beginning of period balance			2,700	2,795
Issuances		256	355
Interest accrual		77	105
Net premiums collected	[1]	(356)	(496)
Foreign currency translation		0	0
Other		(5)	1
Ending balance at original discount rate		2,672	2,760	2,999
Effect of changes in discount rate assumptions		(283)	(226)
Ending balance		2,389	2,534	3,283
Accident | Aflac U.S. | Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance			3,283
Beginning balance at original discount rate			2,999
Effect of changes in cash flow assumptions					(163)
Effect of actual variances from expected experience					(109)
Adjusted beginning of period balance					3,078
Issuances				365
Interest accrual				116
Net premiums collected	[2]			(552)
Foreign currency translation				0
Other				(8)
Ending balance at original discount rate				2,999
Effect of changes in discount rate assumptions				284
Ending balance				3,283
Disability | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance		1,635	1,862
Beginning balance at original discount rate		1,775	1,760
Effect of changes in cash flow assumptions			(51)	5
Effect of actual variances from expected experience			(6)	(43)
Adjusted beginning of period balance			1,718	1,722
Issuances		293	384
Interest accrual		46	57
Net premiums collected	[1]	(292)	(382)
Foreign currency translation		0	0
Other		(6)	(6)
Ending balance at original discount rate		1,759	1,775	1,760
Effect of changes in discount rate assumptions		(162)	(140)
Ending balance		1,597	1,635	1,862
Disability | Aflac U.S. | Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance			1,862
Beginning balance at original discount rate			1,760
Effect of changes in cash flow assumptions					(129)
Effect of actual variances from expected experience					(38)
Adjusted beginning of period balance					1,754
Issuances				345
Interest accrual				61
Net premiums collected	[2]			(393)
Foreign currency translation				0
Other				(7)
Ending balance at original discount rate				1,760
Effect of changes in discount rate assumptions				102
Ending balance				1,862
Critical Care | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance		4,486	6,023
Beginning balance at original discount rate		5,050	5,391
Effect of changes in cash flow assumptions			(494)	(38)
Effect of actual variances from expected experience			(154)	(421)
Adjusted beginning of period balance			4,402	4,932
Issuances		397	537
Interest accrual		137	193
Net premiums collected	[1]	(440)	(612)
Foreign currency translation		0	0
Other		(5)	0
Ending balance at original discount rate		4,491	5,050	5,391
Effect of changes in discount rate assumptions		(630)	(564)
Ending balance		3,861	4,486	6,023
Critical Care | Aflac U.S. | Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance			6,023
Beginning balance at original discount rate			5,391
Effect of changes in cash flow assumptions					(302)
Effect of actual variances from expected experience					(290)
Adjusted beginning of period balance					5,302
Issuances				552
Interest accrual				210
Net premiums collected	[2]			(665)
Foreign currency translation				0
Other				(8)
Ending balance at original discount rate				5,391
Effect of changes in discount rate assumptions				632
Ending balance				6,023
Hospital Indemnity | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance		1,220	1,467
Beginning balance at original discount rate		1,365	1,380
Effect of changes in cash flow assumptions			(142)	42
Effect of actual variances from expected experience			(48)	(111)
Adjusted beginning of period balance			1,175	1,311
Issuances		203	273
Interest accrual		34	45
Net premiums collected	[1]	(187)	(261)
Foreign currency translation		0	0
Other		(3)	(3)
Ending balance at original discount rate		1,222	1,365	1,380
Effect of changes in discount rate assumptions		(150)	(145)
Ending balance		1,072	1,220	1,467
Hospital Indemnity | Aflac U.S. | Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance			1,467
Beginning balance at original discount rate			1,380
Effect of changes in cash flow assumptions					0
Effect of actual variances from expected experience					(32)
Adjusted beginning of period balance					1,344
Issuances				263
Interest accrual				45
Net premiums collected	[2]			(268)
Foreign currency translation				0
Other				(4)
Ending balance at original discount rate				1,380
Effect of changes in discount rate assumptions				87
Ending balance				1,467
Dental/Vision | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance		211	264
Beginning balance at original discount rate		231	241
Effect of changes in cash flow assumptions			(9)	10
Effect of actual variances from expected experience			(13)	(20)
Adjusted beginning of period balance			209	231
Issuances		31	33
Interest accrual		6	9
Net premiums collected	[1]	(30)	(42)
Foreign currency translation		0	0
Other		1	0
Ending balance at original discount rate		217	231	241
Effect of changes in discount rate assumptions		(23)	(20)
Ending balance		$ 194	211	264
Dental/Vision | Aflac U.S. | Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance			264
Beginning balance at original discount rate			$ 241
Effect of changes in cash flow assumptions					(26)
Effect of actual variances from expected experience					(14)
Adjusted beginning of period balance					$ 241
Issuances				39
Interest accrual				10
Net premiums collected	[2]			(47)
Foreign currency translation				0
Other				(2)
Ending balance at original discount rate				241
Effect of changes in discount rate assumptions				23
Ending balance				$ 264
[1]Net premiums collected represent the portion of gross premiums collected from policyholders that is used to fund expected future benefit payments.[2]Net premiums collected represent the portion of gross premiums collected from policyholders that is used to fund expected future benefit payments.

SUMMARY OF SIGNIFICANT ACCOUN_8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Impact from Adoption to Liability For Future Policy Benefit, Expected Future Policy Benefits (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
Liability for Future Policy Benefit, Activity [Line Items]
Ending balance	$ 123,918	$ 141,463
Cancer | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance	41,546	47,677	$ 56,807
Effect of changes in discount rate assumptions	5,663	7,089
Ending balance	47,209	54,766	72,747
Medical and other health | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance	23,763	27,566	31,398
Effect of changes in discount rate assumptions	(170)	(147)
Ending balance	23,593	27,419	36,021
Life insurance | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance	28,796	32,800	39,002
Effect of changes in discount rate assumptions	(868)	(846)
Ending balance	27,928	31,954	42,720
Life insurance | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance	1,952	1,778	1,694
Effect of changes in discount rate assumptions	(344)	(252)
Ending balance	1,608	1,526	1,843
Other | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance	5,188	5,940	6,787
Effect of changes in discount rate assumptions	(332)	(358)
Ending balance	4,856	5,582	7,322
Other | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance	687	624	645
Effect of changes in discount rate assumptions	(35)	(2)
Ending balance	652	622	837
Accident | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance	3,339	3,391	3,594
Effect of changes in discount rate assumptions	(375)	(293)
Ending balance	2,964	3,098	3,949
Disability | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance	2,584	2,636	2,670
Effect of changes in discount rate assumptions	(233)	(191)
Ending balance	2,351	2,445	2,871
Critical Care | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance	12,203	12,846	13,079
Effect of changes in discount rate assumptions	(1,743)	(1,357)
Ending balance	10,460	11,489	15,388
Hospital Indemnity | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance	2,106	2,300	2,300
Effect of changes in discount rate assumptions	(259)	(226)
Ending balance	1,847	2,074	2,552
Dental/Vision | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance	508	532	549
Effect of changes in discount rate assumptions	(58)	(44)
Ending balance	$ 450	$ 488	616
Accounting Standards Update 2018-12 | Cancer | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance			56,807		$ 64,056
Effect of changes in discount rate assumptions			15,940
Ending balance			72,747	$ 82,567
Accounting Standards Update 2018-12 | Medical and other health | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance			31,398		34,638
Effect of changes in discount rate assumptions			4,623
Ending balance			36,021	39,618
Accounting Standards Update 2018-12 | Life insurance | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance			39,002		43,729
Effect of changes in discount rate assumptions			3,718
Ending balance			42,720	47,951
Accounting Standards Update 2018-12 | Life insurance | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance			1,694		1,562
Effect of changes in discount rate assumptions			149
Ending balance			1,843	1,789
Accounting Standards Update 2018-12 | Other | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance			6,787		7,620
Effect of changes in discount rate assumptions			535
Ending balance			7,322	8,201
Accounting Standards Update 2018-12 | Other | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance			645		661
Effect of changes in discount rate assumptions			192
Ending balance			837	906
Accounting Standards Update 2018-12 | Accident | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance			3,594		3,818
Effect of changes in discount rate assumptions			355
Ending balance			3,949	4,389
Accounting Standards Update 2018-12 | Disability | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance			2,670		2,919
Effect of changes in discount rate assumptions			201
Ending balance			2,871	3,265
Accounting Standards Update 2018-12 | Critical Care | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance			13,079		13,427
Effect of changes in discount rate assumptions			2,309
Ending balance			15,388	16,733
Accounting Standards Update 2018-12 | Hospital Indemnity | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance			2,300		2,258
Effect of changes in discount rate assumptions			252
Ending balance			2,552	2,635
Accounting Standards Update 2018-12 | Dental/Vision | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance			549		599
Effect of changes in discount rate assumptions			67
Ending balance			$ 616	705
Accounting Standards Update 2018-12 | As Previously Reported | Cancer | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance					64,056
Accounting Standards Update 2018-12 | As Previously Reported | Medical and other health | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance					34,638
Accounting Standards Update 2018-12 | As Previously Reported | Life insurance | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance					43,729
Accounting Standards Update 2018-12 | As Previously Reported | Life insurance | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance					1,562
Accounting Standards Update 2018-12 | As Previously Reported | Other | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance					7,620
Accounting Standards Update 2018-12 | As Previously Reported | Other | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance					661
Accounting Standards Update 2018-12 | As Previously Reported | Accident | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance					3,818
Accounting Standards Update 2018-12 | As Previously Reported | Disability | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance					2,919
Accounting Standards Update 2018-12 | As Previously Reported | Critical Care | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance					13,427
Accounting Standards Update 2018-12 | As Previously Reported | Hospital Indemnity | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance					2,258
Accounting Standards Update 2018-12 | As Previously Reported | Dental/Vision | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance					$ 599
Accounting Standards Update 2018-12 | Revision of Prior Period, Accounting Standards Update, Adjustment | Cancer | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Effect of changes in discount rate assumptions				18,511
Accounting Standards Update 2018-12 | Revision of Prior Period, Accounting Standards Update, Adjustment | Medical and other health | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Effect of changes in discount rate assumptions				4,980
Accounting Standards Update 2018-12 | Revision of Prior Period, Accounting Standards Update, Adjustment | Life insurance | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Effect of changes in discount rate assumptions				4,222
Accounting Standards Update 2018-12 | Revision of Prior Period, Accounting Standards Update, Adjustment | Life insurance | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Effect of changes in discount rate assumptions				227
Accounting Standards Update 2018-12 | Revision of Prior Period, Accounting Standards Update, Adjustment | Other | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Effect of changes in discount rate assumptions				581
Accounting Standards Update 2018-12 | Revision of Prior Period, Accounting Standards Update, Adjustment | Other | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Effect of changes in discount rate assumptions				245
Accounting Standards Update 2018-12 | Revision of Prior Period, Accounting Standards Update, Adjustment | Accident | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Effect of changes in discount rate assumptions				571
Accounting Standards Update 2018-12 | Revision of Prior Period, Accounting Standards Update, Adjustment | Disability | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Effect of changes in discount rate assumptions				346
Accounting Standards Update 2018-12 | Revision of Prior Period, Accounting Standards Update, Adjustment | Critical Care | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Effect of changes in discount rate assumptions				3,306
Accounting Standards Update 2018-12 | Revision of Prior Period, Accounting Standards Update, Adjustment | Hospital Indemnity | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Effect of changes in discount rate assumptions				377
Accounting Standards Update 2018-12 | Revision of Prior Period, Accounting Standards Update, Adjustment | Dental/Vision | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Effect of changes in discount rate assumptions				$ 106

SUMMARY OF SIGNIFICANT ACCOUN_9

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Liability For Future Policy Benefit, Expected Future Policy Benefits, Activity (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2021	Jan. 01, 2021
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance	$ 141,463
Ending balance	123,918	$ 141,463
Net liability for future policy benefits	78,448	88,241
Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Net liability for future policy benefits			$ 115,964
Cancer | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance	54,766	72,747
Beginning balance at original discount rate	47,677	56,807
Effect of changes in cash flow assumptions		(148)	(721)
Effect of actual variances from expected experience		(314)	(333)
Adjusted beginning of period balance		47,215	55,753
Issuances	787	960
Interest accrual	1,116	1,599
Benefit payments	(2,245)	(3,050)
Foreign currency translation	(5,327)	(7,585)
Other	0	0
Ending balance at original discount rate	41,546	47,677	56,807
Effect of changes in discount rate assumptions	5,663	7,089
Ending balance	47,209	54,766	72,747
Net liability for future policy benefits	30,716	35,468
Less: reinsurance recoverable	1,952	0
Net liability for future policy benefits after reinsurance recoverable	28,764	35,468
Cancer | Aflac Japan | Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance		72,747
Beginning balance at original discount rate		56,807	64,056
Effect of changes in cash flow assumptions				$ 24
Effect of actual variances from expected experience				(149)
Adjusted beginning of period balance				63,931
Issuances			1,133
Interest accrual			2,014
Benefit payments			(3,894)
Foreign currency translation			(6,377)
Other			0
Ending balance at original discount rate			56,807
Effect of changes in discount rate assumptions			15,940
Ending balance			72,747
Net liability for future policy benefits			46,854
Less: reinsurance recoverable			0
Net liability for future policy benefits after reinsurance recoverable			46,854
Medical and other health | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance	27,419	36,021
Beginning balance at original discount rate	27,566	31,398
Effect of changes in cash flow assumptions		(510)	352
Effect of actual variances from expected experience		(102)	83
Adjusted beginning of period balance		26,954	31,833
Issuances	295	646
Interest accrual	461	642
Benefit payments	(883)	(1,375)
Foreign currency translation	(3,064)	(4,180)
Other	0	0
Ending balance at original discount rate	23,763	27,566	31,398
Effect of changes in discount rate assumptions	(170)	(147)
Ending balance	23,593	27,419	36,021
Net liability for future policy benefits	9,699	10,705
Less: reinsurance recoverable	1,422	1,579
Net liability for future policy benefits after reinsurance recoverable	8,277	9,126
Medical and other health | Aflac Japan | Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance		36,021
Beginning balance at original discount rate		31,398	34,638
Effect of changes in cash flow assumptions				85
Effect of actual variances from expected experience				(458)
Adjusted beginning of period balance				34,265
Issuances			1,155
Interest accrual			769
Benefit payments			(1,313)
Foreign currency translation			(3,478)
Other			0
Ending balance at original discount rate			31,398
Effect of changes in discount rate assumptions			4,623
Ending balance			36,021
Net liability for future policy benefits			14,847
Less: reinsurance recoverable			2,150
Net liability for future policy benefits after reinsurance recoverable			12,697
Life insurance | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance	31,954	42,720
Beginning balance at original discount rate	32,800	39,002
Effect of changes in cash flow assumptions		66	(550)
Effect of actual variances from expected experience		(43)	(91)
Adjusted beginning of period balance		32,823	38,361
Issuances	272	222
Interest accrual	472	670
Benefit payments	(1,090)	(1,248)
Foreign currency translation	(3,681)	(5,205)
Other	0	0
Ending balance at original discount rate	28,796	32,800	39,002
Effect of changes in discount rate assumptions	(868)	(846)
Ending balance	27,928	31,954	42,720
Net liability for future policy benefits	21,678	24,469
Less: reinsurance recoverable	0	0
Net liability for future policy benefits after reinsurance recoverable	21,678	24,469
Life insurance | Aflac Japan | Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance		42,720
Beginning balance at original discount rate		39,002	43,729
Effect of changes in cash flow assumptions				31
Effect of actual variances from expected experience				(139)
Adjusted beginning of period balance				43,621
Issuances			287
Interest accrual			833
Benefit payments			(1,373)
Foreign currency translation			(4,366)
Other			0
Ending balance at original discount rate			39,002
Effect of changes in discount rate assumptions			3,718
Ending balance			42,720
Net liability for future policy benefits			31,873
Less: reinsurance recoverable			0
Net liability for future policy benefits after reinsurance recoverable			31,873
Life insurance | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance	1,526	1,843
Beginning balance at original discount rate	1,778	1,694
Effect of changes in cash flow assumptions		72	(1)
Effect of actual variances from expected experience		(12)	(21)
Adjusted beginning of period balance		1,838	1,672
Issuances	140	149
Interest accrual	50	62
Benefit payments	(81)	(103)
Foreign currency translation	0	0
Other	5	(2)
Ending balance at original discount rate	1,952	1,778	1,694
Effect of changes in discount rate assumptions	(344)	(252)
Ending balance	1,608	1,526	1,843
Net liability for future policy benefits	802	802
Less: reinsurance recoverable	11	9
Net liability for future policy benefits after reinsurance recoverable	791	793
Life insurance | Aflac U.S. | Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance		1,843
Beginning balance at original discount rate		1,694	1,562
Effect of changes in cash flow assumptions				31
Effect of actual variances from expected experience				34
Adjusted beginning of period balance				1,627
Issuances			115
Interest accrual			58
Benefit payments			(107)
Foreign currency translation			0
Other			1
Ending balance at original discount rate			1,694
Effect of changes in discount rate assumptions			149
Ending balance			1,843
Net liability for future policy benefits			1,009
Less: reinsurance recoverable			10
Net liability for future policy benefits after reinsurance recoverable			999
Other | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance	5,582	7,322
Beginning balance at original discount rate	5,940	6,787
Effect of changes in cash flow assumptions		(27)	96
Effect of actual variances from expected experience		(7)	(10)
Adjusted beginning of period balance		5,906	6,873
Issuances	24	68
Interest accrual	76	106
Benefit payments	(154)	(202)
Foreign currency translation	(664)	(905)
Other	0	0
Ending balance at original discount rate	5,188	5,940	6,787
Effect of changes in discount rate assumptions	(332)	(358)
Ending balance	4,856	5,582	7,322
Net liability for future policy benefits	3,814	4,326
Less: reinsurance recoverable	0	0
Net liability for future policy benefits after reinsurance recoverable	3,814	4,326
Other | Aflac Japan | Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance		7,322
Beginning balance at original discount rate		6,787	7,620
Effect of changes in cash flow assumptions				(11)
Effect of actual variances from expected experience				(15)
Adjusted beginning of period balance				7,594
Issuances			62
Interest accrual			129
Benefit payments			(238)
Foreign currency translation			(760)
Other			0
Ending balance at original discount rate			6,787
Effect of changes in discount rate assumptions			535
Ending balance			7,322
Net liability for future policy benefits			5,736
Less: reinsurance recoverable			0
Net liability for future policy benefits after reinsurance recoverable			5,736
Other | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance	622	837
Beginning balance at original discount rate	624	645
Effect of changes in cash flow assumptions		(13)	(15)
Effect of actual variances from expected experience		2	7
Adjusted beginning of period balance		613	637
Issuances	76	0
Interest accrual	24	32
Benefit payments	(35)	(45)
Foreign currency translation	0	0
Other	9	0
Ending balance at original discount rate	687	624	645
Effect of changes in discount rate assumptions	(35)	(2)
Ending balance	652	622	837
Net liability for future policy benefits	480	512
Less: reinsurance recoverable	0	0
Net liability for future policy benefits after reinsurance recoverable	480	512
Other | Aflac U.S. | Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance		837
Beginning balance at original discount rate		645	661
Effect of changes in cash flow assumptions				0
Effect of actual variances from expected experience				(3)
Adjusted beginning of period balance				658
Issuances			0
Interest accrual			33
Benefit payments			(46)
Foreign currency translation			0
Other			0
Ending balance at original discount rate			645
Effect of changes in discount rate assumptions			192
Ending balance			837
Net liability for future policy benefits			684
Less: reinsurance recoverable			0
Net liability for future policy benefits after reinsurance recoverable			684
Accident | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance	3,098	3,949
Beginning balance at original discount rate	3,391	3,594
Effect of changes in cash flow assumptions		(11)	(70)
Effect of actual variances from expected experience		(61)	(177)
Adjusted beginning of period balance		3,319	3,347
Issuances	265	364
Interest accrual	95	128
Benefit payments	(340)	(456)
Foreign currency translation	0	0
Other	0	8
Ending balance at original discount rate	3,339	3,391	3,594
Effect of changes in discount rate assumptions	(375)	(293)
Ending balance	2,964	3,098	3,949
Net liability for future policy benefits	575	564
Less: reinsurance recoverable	0	0
Net liability for future policy benefits after reinsurance recoverable	575	564
Accident | Aflac U.S. | Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance		3,949
Beginning balance at original discount rate		3,594	3,818
Effect of changes in cash flow assumptions				(178)
Effect of actual variances from expected experience				(115)
Adjusted beginning of period balance				3,525
Issuances			372
Interest accrual			137
Benefit payments			(439)
Foreign currency translation			0
Other			(1)
Ending balance at original discount rate			3,594
Effect of changes in discount rate assumptions			355
Ending balance			3,949
Net liability for future policy benefits			666
Less: reinsurance recoverable			0
Net liability for future policy benefits after reinsurance recoverable			666
Disability | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance	2,445	2,871
Beginning balance at original discount rate	2,636	2,670
Effect of changes in cash flow assumptions		(59)	5
Effect of actual variances from expected experience		(21)	(48)
Adjusted beginning of period balance		2,556	2,627
Issuances	305	397
Interest accrual	72	94
Benefit payments	(349)	(483)
Foreign currency translation	0	0
Other	0	1
Ending balance at original discount rate	2,584	2,636	2,670
Effect of changes in discount rate assumptions	(233)	(191)
Ending balance	2,351	2,445	2,871
Net liability for future policy benefits	754	810
Less: reinsurance recoverable	0	0
Net liability for future policy benefits after reinsurance recoverable	754	810
Disability | Aflac U.S. | Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance		2,871
Beginning balance at original discount rate		2,670	2,919
Effect of changes in cash flow assumptions				(143)
Effect of actual variances from expected experience				(41)
Adjusted beginning of period balance				2,735
Issuances			355
Interest accrual			100
Benefit payments			(520)
Foreign currency translation			0
Other			0
Ending balance at original discount rate			2,670
Effect of changes in discount rate assumptions			201
Ending balance			2,871
Net liability for future policy benefits			1,009
Less: reinsurance recoverable			0
Net liability for future policy benefits after reinsurance recoverable			1,009
Critical Care | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance	11,489	15,388
Beginning balance at original discount rate	12,846	13,079
Effect of changes in cash flow assumptions		(592)	(43)
Effect of actual variances from expected experience		(188)	(465)
Adjusted beginning of period balance		12,066	12,571
Issuances	408	550
Interest accrual	396	539
Benefit payments	(668)	(823)
Foreign currency translation	0	0
Other	1	9
Ending balance at original discount rate	12,203	12,846	13,079
Effect of changes in discount rate assumptions	(1,743)	(1,357)
Ending balance	10,460	11,489	15,388
Net liability for future policy benefits	6,599	7,003
Less: reinsurance recoverable	0	0
Net liability for future policy benefits after reinsurance recoverable	6,599	7,003
Critical Care | Aflac U.S. | Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance		15,388
Beginning balance at original discount rate		13,079	13,427
Effect of changes in cash flow assumptions				(326)
Effect of actual variances from expected experience				(304)
Adjusted beginning of period balance				12,797
Issuances			563
Interest accrual			553
Benefit payments			(834)
Foreign currency translation			0
Other			0
Ending balance at original discount rate			13,079
Effect of changes in discount rate assumptions			2,309
Ending balance			15,388
Net liability for future policy benefits			9,365
Less: reinsurance recoverable			0
Net liability for future policy benefits after reinsurance recoverable			9,365
Hospital Indemnity | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance	2,074	2,552
Beginning balance at original discount rate	2,300	2,300
Effect of changes in cash flow assumptions		(194)	40
Effect of actual variances from expected experience		(68)	(130)
Adjusted beginning of period balance		2,038	2,210
Issuances	211	282
Interest accrual	64	85
Benefit payments	(207)	(277)
Foreign currency translation	0	0
Other	0	0
Ending balance at original discount rate	2,106	2,300	2,300
Effect of changes in discount rate assumptions	(259)	(226)
Ending balance	1,847	2,074	2,552
Net liability for future policy benefits	775	854
Less: reinsurance recoverable	0	0
Net liability for future policy benefits after reinsurance recoverable	775	854
Hospital Indemnity | Aflac U.S. | Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance		2,552
Beginning balance at original discount rate		2,300	2,258
Effect of changes in cash flow assumptions				(3)
Effect of actual variances from expected experience				(36)
Adjusted beginning of period balance				2,219
Issuances			271
Interest accrual			85
Benefit payments			(275)
Foreign currency translation			0
Other			0
Ending balance at original discount rate			2,300
Effect of changes in discount rate assumptions			252
Ending balance			2,552
Net liability for future policy benefits			1,085
Less: reinsurance recoverable			0
Net liability for future policy benefits after reinsurance recoverable			1,085
Dental/Vision | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance	488	616
Beginning balance at original discount rate	532	549
Effect of changes in cash flow assumptions		(14)	13
Effect of actual variances from expected experience		(17)	(23)
Adjusted beginning of period balance		501	539
Issuances	33	34
Interest accrual	15	21
Benefit payments	(44)	(62)
Foreign currency translation	0	0
Other	3	0
Ending balance at original discount rate	508	532	549
Effect of changes in discount rate assumptions	(58)	(44)
Ending balance	450	488	616
Net liability for future policy benefits	256	277
Less: reinsurance recoverable	0	0
Net liability for future policy benefits after reinsurance recoverable	$ 256	277
Dental/Vision | Aflac U.S. | Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Beginning balance		616
Beginning balance at original discount rate		$ 549	599
Effect of changes in cash flow assumptions				(29)
Effect of actual variances from expected experience				(15)
Adjusted beginning of period balance				$ 555
Issuances			40
Interest accrual			23
Benefit payments			(69)
Foreign currency translation			0
Other			0
Ending balance at original discount rate			549
Effect of changes in discount rate assumptions			67
Ending balance			616
Net liability for future policy benefits			352
Less: reinsurance recoverable			0
Net liability for future policy benefits after reinsurance recoverable			$ 352

SUMMARY OF SIGNIFICANT ACCOU_10

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Reconciliation of Future Policy Benefits (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	$ 78,448	$ 88,241
Deferred profit liability - limited-payment contracts	1,669	1,740
Deferred profit liability - reinsurance	590	692
Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits			$ 115,964
Deferred profit liability - limited-payment contracts			1,595
Deferred profit liability - reinsurance			859
Corporate and other
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	2,375	686
Corporate and other | Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits			30
Cancer | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	30,716	35,468
Cancer | Aflac Japan | Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits			46,854
Medical and other health | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	9,699	10,705
Medical and other health | Aflac Japan | Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits			14,847
Life insurance | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	21,678	24,469
Life insurance | Aflac Japan | Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits			31,873
Life insurance | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	802	802
Life insurance | Aflac U.S. | Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits			1,009
Other | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	3,814	4,326
Other | Aflac Japan | Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits			5,736
Other | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	480	512
Other | Aflac U.S. | Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits			684
Accident | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	575	564
Accident | Aflac U.S. | Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits			666
Disability | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	754	810
Disability | Aflac U.S. | Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits			1,009
Critical Care | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	6,599	7,003
Critical Care | Aflac U.S. | Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits			9,365
Hospital Indemnity | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	775	854
Hospital Indemnity | Aflac U.S. | Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits			1,085
Dental/Vision | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	$ 256	$ 277
Dental/Vision | Aflac U.S. | Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits			$ 352

SUMMARY OF SIGNIFICANT ACCOU_11

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Detail) $ in Millions		9 Months Ended
	Jan. 01, 2021 USD ($)	Sep. 30, 2023 USD ($) segment	Sep. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Significant Accounting Policies [Line Items]
Number of reportable insurance business segments | segment		2
Accumulated other comprehensive income (loss)		$ (5,760)	$ (7,505)	$ (7,338)	$ (6,429)	$ (6,980)	$ (8,411)
Retained earnings		$ 48,257			$ 44,367
Accounting Standards Update 2018-12
Significant Accounting Policies [Line Items]
Capped transition date NPR	100%
Accounting Standards Update 2018-12 | Cumulative Effect, Period of Adoption, Adjustment
Significant Accounting Policies [Line Items]
Accumulated other comprehensive income (loss)	$ (18,600)
Retained earnings	$ (300)
Aflac Japan
Significant Accounting Policies [Line Items]
Percentage of the Company's total revenues		63%	72%
Percentage of the Company's total assets		79%			80%

BUSINESS SEGMENT INFORMATION -

BUSINESS SEGMENT INFORMATION - Operations by Segment - Revenues (Details) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) segment	Sep. 30, 2022 USD ($)
Segment Reporting, Revenue Reconciling Item [Line Items]
Number of reportable insurance business segments | segment				2
Net earned premiums	[1]	$ 3,476	$ 3,535	$ 10,737	$ 11,379
Other income		47	50	139	168
Total revenues		4,950	4,704	14,923	15,192
Total adjusted revenues		4,436	4,468	13,527	14,230
Net investment gains (losses)	[2],[3],[4],[5]	514	236	1,396	962
Remeasurement gain (loss), deferred profit liability for limited-payment contracts		22	(41)	22	(42)
Aflac Japan
Segment Reporting, Revenue Reconciling Item [Line Items]
Net earned premiums	[1]	1,973	2,125	6,207	7,084
Adjusted net investment income	[2],[4]	679	663	1,927	2,066
Other income		8	9	26	26
Total revenues		2,660	2,797	8,160	9,176
Remeasurement gain (loss), deferred profit liability for limited-payment contracts		22	(41)	22	(42)
Hedge costs		26	28	148	84
Net interest cash flows from derivatives		(79)	(25)	(214)	(37)
Aflac U.S.
Segment Reporting, Revenue Reconciling Item [Line Items]
Net earned premiums		1,419	1,375	4,272	4,182
Adjusted net investment income	[5]	209	185	609	563
Other income		33	38	102	120
Total revenues		1,661	1,598	4,983	4,865
Net interest cash flows from derivatives		(9)	(1)	(24)	1
Corporate and other
Segment Reporting, Revenue Reconciling Item [Line Items]
Net earned premiums		83	35	258	112
Total revenues	[3],[6]	115	73	384	189
Hedge income		25	19	92	44
Change in value of federal historic rehabilitation and solar tax credit investments		(64)	(19)	(169)	(61)
Federal historic rehabilitation and solar tax credits, amount		$ 63	$ 19	$ 171	$ 63
[1]Includes a gain (loss) of $22 and $(41) for the three-month periods and $22 and $(42) for the nine-month periods ended September 30, 2023 and 2022, respectively, related to remeasurement of the deferred profit liability for limited-payment contracts.[2]Amortized hedge costs of $26 and $28 for the three-month periods and $148 and $84 for the nine-month periods ended September 30, 2023, and 2022, 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.[3]Amortized hedge income of $25 and $19 for the three-month periods and $92 and $44 for the nine-month periods ended September 30, 2023, and 2022, 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.

BUSINESS SEGMENT INFORMATION _2

BUSINESS SEGMENT INFORMATION - Operations by Segment - Pretax Earnings (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting, Reconciling Item for Adjusted Profit (Loss) from Segment to Consolidated [Line Items]
Pretax adjusted earnings	[1]	$ 1,298	$ 1,106	$ 3,571	$ 3,407
Net investment gains (losses)	[2],[3],[4],[5],[6]	504	222	1,363	923
Other income (loss)		3	1	38	1
Earnings before income taxes		1,805	1,329	4,972	4,331
Income taxes applicable to pretax adjusted earnings		203	196	570	610
Effect of foreign currency translation on after-tax adjusted earnings		(33)	(97)	(100)	(192)
Remeasurement gain (loss), deferred profit liability for limited-payment contracts		22	(41)	22	(42)
Interest expense on debt		39	45	109	127
Aflac Japan
Segment Reporting, Reconciling Item for Adjusted Profit (Loss) from Segment to Consolidated [Line Items]
Pretax adjusted earnings	[2],[5],[7]	869	817	2,479	2,560
Remeasurement gain (loss), deferred profit liability for limited-payment contracts		22	(41)	22	(42)
Hedge costs		26	28	148	84
Net interest cash flows from derivatives		(79)	(25)	(214)	(37)
Aflac U.S.
Segment Reporting, Reconciling Item for Adjusted Profit (Loss) from Segment to Consolidated [Line Items]
Pretax adjusted earnings	[6]	478	345	1,199	1,020
Net interest cash flows from derivatives		(9)	(1)	(24)	1
Corporate and other
Segment Reporting, Reconciling Item for Adjusted Profit (Loss) from Segment to Consolidated [Line Items]
Pretax adjusted earnings	[3],[4],[8]	(49)	(56)	(107)	(173)
Hedge income		25	19	92	44
Gain (loss) on change in fair value of derivative, interest rate component		8	13	32	38
Change in value of federal historic rehabilitation and solar tax credit investments		(64)	(19)	(169)	(61)
Federal historic rehabilitation and solar tax credits, amount		$ 63	$ 19	$ 171	$ 63
[1]Includes $39 and $45 for the three-month periods and $109 and $127 for the nine-month periods ended September 30, 2023, and 2022, respectively, of interest expense on debt.[2] Amortized hedge costs of $26 and $28 for the three-month periods and $148 and $84 for the nine-month periods ended September 30, 2023, and 2022, 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.

BUSINESS SEGMENT INFORMATION _3

BUSINESS SEGMENT INFORMATION - Operations by Segment - Assets (Detail) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 125,111	$ 131,738
Aflac Japan
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	99,407	105,734
Aflac U.S.
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	20,751	21,002
Corporate and other
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 4,953	$ 5,002

INVESTMENTS - Available-for-sal

INVESTMENTS - Available-for-sale Debt Securities (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 69,161	$ 75,469
Allowance for Credit Losses	0	0
Gross Unrealized Gains	5,061	4,800
Gross Unrealized Losses	4,421	4,528
Fair   Value	69,801	75,741
Yen-denominated
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	39,132	43,920
Allowance for Credit Losses	0	0
Gross Unrealized Gains	2,173	2,595
Gross Unrealized Losses	2,636	2,849
Fair   Value	38,669	43,666
Dollar-denominated
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	30,029	31,549
Allowance for Credit Losses	0	0
Gross Unrealized Gains	2,888	2,205
Gross Unrealized Losses	1,785	1,679
Fair   Value	31,132	32,075
Japan government and agencies | Yen-denominated
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	22,605	25,418
Allowance for Credit Losses	0	0
Gross Unrealized Gains	863	1,259
Gross Unrealized Losses	1,695	1,724
Fair   Value	21,773	24,953
Municipalities
Debt Securities, Available-for-sale [Line Items]
Fair   Value	2,141	2,320
Municipalities | Yen-denominated
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	918	1,034
Allowance for Credit Losses	0	0
Gross Unrealized Gains	105	124
Gross Unrealized Losses	58	61
Fair   Value	965	1,097
Municipalities | Dollar-denominated
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,241	1,269
Allowance for Credit Losses	0	0
Gross Unrealized Gains	47	43
Gross Unrealized Losses	112	89
Fair   Value	1,176	1,223
Mortgage- and asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Fair   Value	2,996	2,146
Mortgage- and asset-backed securities | Yen-denominated
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	206	241
Allowance for Credit Losses	0	0
Gross Unrealized Gains	6	8
Gross Unrealized Losses	11	12
Fair   Value	201	237
Mortgage- and asset-backed securities | Dollar-denominated
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,641	1,926
Allowance for Credit Losses	0	0
Gross Unrealized Gains	228	67
Gross Unrealized Losses	74	84
Fair   Value	2,795	1,909
Public utilities
Debt Securities, Available-for-sale [Line Items]
Fair   Value	7,250	7,666
Public utilities | Yen-denominated
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	3,652	3,932
Allowance for Credit Losses	0	0
Gross Unrealized Gains	292	301
Gross Unrealized Losses	89	108
Fair   Value	3,855	4,125
Public utilities | Dollar-denominated
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	3,342	3,481
Allowance for Credit Losses	0	0
Gross Unrealized Gains	291	240
Gross Unrealized Losses	238	180
Fair   Value	3,395	3,541
Sovereign and supranational
Debt Securities, Available-for-sale [Line Items]
Fair   Value	511	834
Sovereign and supranational | Yen-denominated
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	355	659
Allowance for Credit Losses	0	0
Gross Unrealized Gains	19	24
Gross Unrealized Losses	6	5
Fair   Value	368	678
Sovereign and supranational | Dollar-denominated
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	121	133
Allowance for Credit Losses	0	0
Gross Unrealized Gains	31	35
Gross Unrealized Losses	9	12
Fair   Value	143	156
Banks/financial institutions
Debt Securities, Available-for-sale [Line Items]
Fair   Value	8,341	9,299
Banks/financial institutions | Yen-denominated
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	5,561	6,348
Allowance for Credit Losses	0	0
Gross Unrealized Gains	301	324
Gross Unrealized Losses	403	531
Fair   Value	5,459	6,141
Banks/financial institutions | Dollar-denominated
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,696	2,992
Allowance for Credit Losses	0	0
Gross Unrealized Gains	285	271
Gross Unrealized Losses	99	105
Fair   Value	2,882	3,158
Other corporate
Debt Securities, Available-for-sale [Line Items]
Fair   Value	26,610	28,362
Other corporate | Yen-denominated
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	5,835	6,288
Allowance for Credit Losses	0	0
Gross Unrealized Gains	587	555
Gross Unrealized Losses	374	408
Fair   Value	6,048	6,435
Other corporate | Dollar-denominated
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	19,799	21,579
Allowance for Credit Losses	0	0
Gross Unrealized Gains	2,006	1,549
Gross Unrealized Losses	1,243	1,201
Fair   Value	20,562	21,927
U.S. government and agencies | Dollar-denominated
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	189	169
Allowance for Credit Losses	0	0
Gross Unrealized Gains	0	0
Gross Unrealized Losses	10	8
Fair   Value	$ 179	$ 161

INVESTMENTS - Held-to-Maturity

INVESTMENTS - Held-to-Maturity Debt Securities (Details) - USD ($) $ in Millions	Sep. 30, 2023		Dec. 31, 2022
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 16,904		$ 19,063
Allowance for Credit Loss	5		7
Total fixed maturity securities, held-to- maturity, amortized cost	16,899	[1]	19,056
Gross Unrealized Gains	1,561		2,154
Gross Unrealized Losses	0		0
Fair   Value	18,460		21,210
Yen-denominated
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	16,904		19,063
Allowance for Credit Loss	5		7
Total fixed maturity securities, held-to- maturity, amortized cost	16,899		19,056
Gross Unrealized Gains	1,561		2,154
Gross Unrealized Losses	0		0
Fair   Value	18,460		21,210
Japan government and agencies | Yen-denominated
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	16,202		18,269
Allowance for Credit Loss	2		2
Total fixed maturity securities, held-to- maturity, amortized cost	16,200		18,267
Gross Unrealized Gains	1,487		2,045
Gross Unrealized Losses	0		0
Fair   Value	17,687		20,312
Municipalities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	253		287
Fair   Value	289		335
Municipalities | Yen-denominated
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	253		287
Allowance for Credit Loss	0		0
Total fixed maturity securities, held-to- maturity, amortized cost	253		287
Gross Unrealized Gains	36		48
Gross Unrealized Losses	0		0
Fair   Value	289		335
Public utilities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	33		37
Fair   Value	36		41
Public utilities | Yen-denominated
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	33		38
Allowance for Credit Loss	0		1
Total fixed maturity securities, held-to- maturity, amortized cost	33		37
Gross Unrealized Gains	3		4
Gross Unrealized Losses	0		0
Fair   Value	36		41
Sovereign and supranational
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	396		446
Fair   Value	429		500
Sovereign and supranational | Yen-denominated
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	399		450
Allowance for Credit Loss	3		4
Total fixed maturity securities, held-to- maturity, amortized cost	396		446
Gross Unrealized Gains	33		54
Gross Unrealized Losses	0		0
Fair   Value	429		500
Other corporate
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	17		19
Fair   Value	19		22
Other corporate | Yen-denominated
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	17		19
Allowance for Credit Loss	0		0
Total fixed maturity securities, held-to- maturity, amortized cost	17		19
Gross Unrealized Gains	2		3
Gross Unrealized Losses	0		0
Fair   Value	$ 19		$ 22
[1]Net of allowance for credit losses

INVESTMENTS - Equity Securities

INVESTMENTS - Equity Securities (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Equity Securities, FV-NI [Line Items]
Fair Value	$ 990	$ 1,091
Yen-denominated
Equity Securities, FV-NI [Line Items]
Fair Value	708	670
Dollar-denominated
Equity Securities, FV-NI [Line Items]
Fair Value	241	374
Other currencies
Equity Securities, FV-NI [Line Items]
Fair Value	$ 41	$ 47

INVESTMENTS - Contractual and E

INVESTMENTS - Contractual and Economic Maturities of Investments in Fixed Maturities (Detail) - USD ($) $ in Millions		Sep. 30, 2023		Dec. 31, 2022
Available for sale:
Due in one year or less	[1]	$ 1,835
Due after one year through five years	[1]	6,385
Due after five years through 10 years	[1]	16,998
Due after 10 years	[1]	41,096
Mortgage- and asset-backed securities	[1]	2,847
Total fixed maturity securities, available-for-sale, amortized cost	[1]	69,161
Held to maturity:
Due in one year or less	[1]	0
Due after one year through five years	[1]	35
Due after five years through 10 years	[1]	9,014
Due after 10 years	[1]	7,850
Mortgage- and asset-backed securities	[1]	0
Total fixed maturity securities, held-to- maturity, amortized cost		16,899	[1]	$ 19,056
Available for sale:
Due in one year or less		1,871
Due after one year through five years		6,920
Due after five years through 10 years		18,432
Due after 10 years		39,582
Mortgage- and asset-backed securities		2,996
Fair Value		69,801		75,741
Held to maturity:
Due in one year or less		0
Due after one year through five years		37
Due after five years through 10 years		9,815
Due after 10 years		8,608
Mortgage- and asset-backed securities		0
Fair Value		$ 18,460		$ 21,210
[1]Net of allowance for credit losses

INVESTMENTS - Investment Exposu

INVESTMENTS - Investment Exposures Individually Exceeded 10% of Shareholders' Equity (Details) - Japan National Government - USD ($) $ in Millions		9 Months Ended	12 Months Ended
		Sep. 30, 2023	Dec. 31, 2022
Summary of Investment Holdings [Line Items]
Credit Rating	[1]	A+	A+
Amortized Cost	[1]	$ 37,858	$ 42,618
Fair Value	[1]	$ 38,498	$ 44,178
[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	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Gain (Loss) on Securities [Line Items]
Gross gains (losses) from sales and redemptions	$ 36	$ 1	$ 33	$ 10
Gross gains (losses) from sales and redemptions	(53)	0	(53)	0
Net investment gains (losses)	423	199	1,101	885
Credit losses:
Fixed maturity securities held-to-maturity	0	0	1	0
Commercial mortgage and other loans	(30)	(12)	(63)	(8)
Impairment losses	0	(4)	0	(21)
Loan commitments	1	5	5	7
Reinsurance recoverables and other	0	0	(3)	2
Total credit losses	(29)	(11)	(60)	(20)
Derivatives and other:
Derivative gains (losses)	(53)	(491)	(630)	(1,515)
Foreign currency gains (losses)	434	664	1,651	2,473
Fixed maturity securities
Gain (Loss) on Securities [Line Items]
Gross gains from sales	3	8	11	93
Gross losses from sales	(13)	(4)	(22)	(30)
Foreign currency gains (losses)	51	54	136	187
Debt Securities, Financing Receivables, and Other Investments
Gain (Loss) on Securities [Line Items]
Net investment gains (losses)	24	59	105	260
Equity securities
Gain (Loss) on Securities [Line Items]
Net investment gains (losses)	47	(22)	35	(313)
Derivatives and other
Gain (Loss) on Securities [Line Items]
Net investment gains (losses)	$ 381	$ 173	$ 1,021	$ 958

INVESTMENTS - Net Effect on Sha

INVESTMENTS - Net Effect on Shareholders' Equity of Unrealized Gains and Losses from Investment Securities (Detail) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Investments [Abstract]
Unrealized gains (losses) on securities available-for-sale	$ 640	$ 272
Deferred income taxes	(1,043)	(974)
Unrealized gains (losses) on fixed maturity securities	$ (403)	$ (702)

INVESTMENTS - Fair Value and Gr

INVESTMENTS - Fair Value and Gross Unrealized Losses for Securities That Have Been in Continuous Unrealized Loss Position (Detail) - Fixed maturity securities - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	$ 28,535	$ 31,709
Total Unrealized Losses	4,421	4,528
Less than 12 months Fair Value	7,104	20,347
Less than 12 months Unrealized Losses	419	2,213
12 months or Longer Fair Value	21,431	11,362
12 months or Longer Unrealized Losses	4,002	2,315
Dollar-denominated | U.S. government and agencies
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	179	159
Total Unrealized Losses	10	8
Less than 12 months Fair Value	42	85
Less than 12 months Unrealized Losses	1	3
12 months or Longer Fair Value	137	74
12 months or Longer Unrealized Losses	9	5
Dollar-denominated | Municipalities
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	738	854
Total Unrealized Losses	112	89
Less than 12 months Fair Value	123	735
Less than 12 months Unrealized Losses	7	57
12 months or Longer Fair Value	615	119
12 months or Longer Unrealized Losses	105	32
Dollar-denominated | Mortgage- and asset-backed securities
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	1,094	936
Total Unrealized Losses	74	84
Less than 12 months Fair Value	804	640
Less than 12 months Unrealized Losses	61	42
12 months or Longer Fair Value	290	296
12 months or Longer Unrealized Losses	13	42
Dollar-denominated | Public utilities
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	1,754	1,852
Total Unrealized Losses	238	180
Less than 12 months Fair Value	944	1,667
Less than 12 months Unrealized Losses	96	144
12 months or Longer Fair Value	810	185
12 months or Longer Unrealized Losses	142	36
Dollar-denominated | Sovereign and supranational
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	33	30
Total Unrealized Losses	9	12
Less than 12 months Fair Value	0	0
Less than 12 months Unrealized Losses	0	0
12 months or Longer Fair Value	33	30
12 months or Longer Unrealized Losses	9	12
Dollar-denominated | Banks/financial institutions
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	1,043	1,147
Total Unrealized Losses	99	105
Less than 12 months Fair Value	460	786
Less than 12 months Unrealized Losses	16	58
12 months or Longer Fair Value	583	361
12 months or Longer Unrealized Losses	83	47
Dollar-denominated | Other corporate
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	8,831	10,529
Total Unrealized Losses	1,243	1,201
Less than 12 months Fair Value	2,994	8,636
Less than 12 months Unrealized Losses	166	785
12 months or Longer Fair Value	5,837	1,893
12 months or Longer Unrealized Losses	1,077	416
Yen-denominated | Japan government and agencies
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	7,997	8,856
Total Unrealized Losses	1,695	1,724
Less than 12 months Fair Value	656	3,733
Less than 12 months Unrealized Losses	24	580
12 months or Longer Fair Value	7,341	5,123
12 months or Longer Unrealized Losses	1,671	1,144
Yen-denominated | Municipalities
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	283	286
Total Unrealized Losses	58	61
Less than 12 months Fair Value	32	150
Less than 12 months Unrealized Losses	0	26
12 months or Longer Fair Value	251	136
12 months or Longer Unrealized Losses	58	35
Yen-denominated | Mortgage- and asset-backed securities
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	54	62
Total Unrealized Losses	11	12
Less than 12 months Fair Value	0	38
Less than 12 months Unrealized Losses	0	6
12 months or Longer Fair Value	54	24
12 months or Longer Unrealized Losses	11	6
Yen-denominated | Public utilities
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	963	880
Total Unrealized Losses	89	108
Less than 12 months Fair Value	415	576
Less than 12 months Unrealized Losses	18	61
12 months or Longer Fair Value	548	304
12 months or Longer Unrealized Losses	71	47
Yen-denominated | Sovereign and supranational
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	58	71
Total Unrealized Losses	6	5
Less than 12 months Fair Value	0	34
Less than 12 months Unrealized Losses	0	4
12 months or Longer Fair Value	58	37
12 months or Longer Unrealized Losses	6	1
Yen-denominated | Banks/financial institutions
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	3,491	3,957
Total Unrealized Losses	403	531
Less than 12 months Fair Value	110	1,760
Less than 12 months Unrealized Losses	3	174
12 months or Longer Fair Value	3,381	2,197
12 months or Longer Unrealized Losses	400	357
Yen-denominated | Other corporate
Investments, Unrealized Loss Position [Line Items]
Total Fair Value	2,017	2,090
Total Unrealized Losses	374	408
Less than 12 months Fair Value	524	1,507
Less than 12 months Unrealized Losses	27	273
12 months or Longer Fair Value	1,493	583
12 months or Longer Unrealized Losses	$ 347	$ 135

INVESTMENTS - Commercial Mortga

INVESTMENTS - Commercial Mortgage and Other Loans by Portfolio Segment (Details) - USD ($) $ in Millions	Sep. 30, 2023		Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	[1]	Jun. 30, 2022	Dec. 31, 2021
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 13,133			$ 13,688
Percent of total commercial mortgage and other loans	100%			100%
Allowance for credit losses	$ (260)			$ (192)
Total net commercial mortgage and other loans	12,873			13,496
Transitional real estate loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 6,550			$ 6,509
Percent of total commercial mortgage and other loans	49.90%			47.60%
Allowance for credit losses	$ (111)	[1]	$ (76)	$ (54)	$ (55)		$ (53)	$ (68)
Commercial mortgage loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 1,734			$ 2,022
Percent of total commercial mortgage and other loans	13.20%			14.80%
Allowance for credit losses	$ (12)	[1]	(9)	$ (9)	(10)		(8)	(10)
Middle market loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 4,849			$ 5,157
Percent of total commercial mortgage and other loans	36.90%			37.60%
Allowance for credit losses	$ (137)	[1]	$ (140)	$ (129)	$ (117)		$ (109)	$ (96)
Office | Transitional real estate loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 1,912			$ 2,158
Percent of total commercial mortgage and other loans	14.60%			15.80%
Office | Commercial mortgage loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 375			$ 388
Percent of total commercial mortgage and other loans	2.90%			2.80%
Retail | Transitional real estate loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 471			$ 493
Percent of total commercial mortgage and other loans	3.60%			3.60%
Retail | Commercial mortgage loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 304			$ 310
Percent of total commercial mortgage and other loans	2.30%			2.30%
Apartment/Multi-Family | Transitional real estate loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 2,616			$ 2,701
Percent of total commercial mortgage and other loans	19.80%			19.70%
Apartment/Multi-Family | Commercial mortgage loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 604			$ 630
Percent of total commercial mortgage and other loans	4.60%			4.60%
Industrial | Transitional real estate loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 442			$ 123
Percent of total commercial mortgage and other loans	3.40%			0.90%
Industrial | Commercial mortgage loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 451			$ 694
Percent of total commercial mortgage and other loans	3.40%			5.10%
Hospitality | Transitional real estate loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 813			$ 803
Percent of total commercial mortgage and other loans	6.20%			5.90%
Other | Transitional real estate loans
Participating Mortgage Loans [Line Items]
Commercial mortgage and other loans, gross	$ 296			$ 231
Percent of total commercial mortgage and other loans	2.30%			1.70%
[1]Excludes allowance on firm loan commitments of $19 and $26 as of September 30, 2023 and 2022, respectively.

INVESTMENTS - Transitional Real

INVESTMENTS - Transitional Real Estate Loans by Key Credit Quality Indicators (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 13,133	$ 13,688
Transitional real estate loans
Financing Receivable, Credit Quality Indicator [Line Items]
2023	157
2022	2,390
2021	2,397
2020	273
2019	938
Prior	395
Total	6,550
Transitional real estate loans | Loan to Value Ratio, 0.00% to 59.99%
Financing Receivable, Credit Quality Indicator [Line Items]
2023	114
2022	805
2021	554
2020	36
2019	124
Prior	10
Total	1,643
Transitional real estate loans | Loan to Value Ratio, 60.00% to 69.99%
Financing Receivable, Credit Quality Indicator [Line Items]
2023	43
2022	561
2021	673
2020	52
2019	469
Prior	125
Total	1,923
Transitional real estate loans | Loan to Value Ratio, 70.00% to 79.99%
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0
2022	809
2021	956
2020	139
2019	249
Prior	65
Total	2,218
Transitional real estate loans | Loan-to-Value Ratio, 80.00% or greater
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0
2022	215
2021	214
2020	46
2019	96
Prior	195
Total	$ 766

INVESTMENTS - Commercial Mort_2

INVESTMENTS - Commercial Mortgage Loans by Key Credit Quality Indicators (Details) $ in Millions	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 13,133	$ 13,688
Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
2023	19
2022	0
2021	311
2020	45
2019	584
Prior	775
Total	$ 1,734
Weighted Average DSCR	2.43
Commercial mortgage loans | 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Weighted Average DSCR	2.08
Commercial mortgage loans | 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Weighted Average DSCR	0
Commercial mortgage loans | 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Weighted Average DSCR	3.18
Commercial mortgage loans | 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Weighted Average DSCR	2.05
Commercial mortgage loans | 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Weighted Average DSCR	2.44
Commercial mortgage loans | Prior
Financing Receivable, Credit Quality Indicator [Line Items]
Weighted Average DSCR	2.14
Commercial mortgage loans | Loan to Value Ratio, 0.00% to 59.99%
Financing Receivable, Credit Quality Indicator [Line Items]
2023	$ 19
2022	0
2021	311
2020	45
2019	459
Prior	596
Total	$ 1,430
Weighted Average DSCR	2.57
Commercial mortgage loans | Loan to Value Ratio, 60.00% to 69.99%
Financing Receivable, Credit Quality Indicator [Line Items]
2023	$ 0
2022	0
2021	0
2020	0
2019	17
Prior	87
Total	$ 104
Weighted Average DSCR	1.82
Commercial mortgage loans | Loan to Value Ratio, 70.00% to 79.99%
Financing Receivable, Credit Quality Indicator [Line Items]
2023	$ 0
2022	0
2021	0
2020	0
2019	80
Prior	44
Total	$ 124
Weighted Average DSCR	1.49
Commercial mortgage loans | Loan-to-Value Ratio, 80.00% or greater
Financing Receivable, Credit Quality Indicator [Line Items]
2023	$ 0
2022	0
2021	0
2020	0
2019	28
Prior	48
Total	$ 76
Weighted Average DSCR	2.20

INVESTMENTS - Middle Market Loa

INVESTMENTS - Middle Market Loans by Key Credit Quality Indicators (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 13,133	$ 13,688
Middle market loans
Financing Receivable, Credit Quality Indicator [Line Items]
2023	53
2022	599
2021	1,230
2020	766
2019	744
Prior	579
Revolving Loans	878
Total	4,849
Middle market loans | BBB Credit Rating
Financing Receivable, Credit Quality Indicator [Line Items]
2023	7
2022	57
2021	128
2020	68
2019	37
Prior	27
Revolving Loans	146
Total	470
Middle market loans | BB Credit Rating
Financing Receivable, Credit Quality Indicator [Line Items]
2023	31
2022	321
2021	466
2020	297
2019	170
Prior	111
Revolving Loans	388
Total	1,784
Middle market loans | B Credit Rating
Financing Receivable, Credit Quality Indicator [Line Items]
2023	15
2022	216
2021	615
2020	362
2019	420
Prior	291
Revolving Loans	285
Total	2,204
Middle market loans | CCC Credit Rating
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0
2022	5
2021	21
2020	39
2019	110
Prior	134
Revolving Loans	56
Total	365
Middle market loans | CC Credit Rating
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	7
Prior	10
Revolving Loans	0
Total	17
Middle market loans | C and Lower Credit Rating
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	6
Revolving Loans	3
Total	$ 9

INVESTMENTS - Nonaccrual Loans

INVESTMENTS - Nonaccrual Loans (Details) - USD ($) $ in Millions		Sep. 30, 2023	Dec. 31, 2022
Financing Receivable, Past Due [Line Items]
Total		$ 13,133	$ 13,688
Total, nonaccrual status		620
Total, 90 days or more past due and still accruing		0
Transitional real estate loans
Financing Receivable, Past Due [Line Items]
Total		6,550
Total, nonaccrual status		545
Commercial mortgage loans
Financing Receivable, Past Due [Line Items]
Total		1,734
Total, nonaccrual status		0
Middle market loans
Financing Receivable, Past Due [Line Items]
Total		4,849
Total, nonaccrual status		75
Current
Financing Receivable, Past Due [Line Items]
Total		12,513
Current | Transitional real estate loans
Financing Receivable, Past Due [Line Items]
Total		6,005
Current | Commercial mortgage loans
Financing Receivable, Past Due [Line Items]
Total		1,734
Current | Middle market loans
Financing Receivable, Past Due [Line Items]
Total		4,774
Less Than 90 Days Past Due
Financing Receivable, Past Due [Line Items]
Total		54
Less Than 90 Days Past Due | Transitional real estate loans
Financing Receivable, Past Due [Line Items]
Total		54
Less Than 90 Days Past Due | Commercial mortgage loans
Financing Receivable, Past Due [Line Items]
Total		0
Less Than 90 Days Past Due | Middle market loans
Financing Receivable, Past Due [Line Items]
Total		0
90 Days or More Past Due
Financing Receivable, Past Due [Line Items]
Total	[1]	566
90 Days or More Past Due | Transitional real estate loans
Financing Receivable, Past Due [Line Items]
Total	[1]	491
90 Days or More Past Due | Commercial mortgage loans
Financing Receivable, Past Due [Line Items]
Total	[1]	0
90 Days or More Past Due | Middle market loans
Financing Receivable, Past Due [Line Items]
Total	[1]	75
Financial Asset, Past Due
Financing Receivable, Past Due [Line Items]
Total		620
Financial Asset, Past Due | Transitional real estate loans
Financing Receivable, Past Due [Line Items]
Total		545
Financial Asset, Past Due | Commercial mortgage loans
Financing Receivable, Past Due [Line Items]
Total		0
Financial Asset, Past Due | Middle market loans
Financing Receivable, Past Due [Line Items]
Total		$ 75
[1]As of September 30, 2023, there were no loans that were 90 days or more past due that continued to accrue interest

INVESTMENTS - Allowance for Loa

INVESTMENTS - Allowance for Loan Losses by Portfolio Segment (Details) - USD ($) $ in Millions		3 Months Ended			9 Months Ended
		Sep. 30, 2023		Sep. 30, 2022	Sep. 30, 2023		Sep. 30, 2022
Allowance for Loan Losses by Portfolio Segment [Roll Forward]
Balance, beginning of period					$ (192)
(Addition to) release of allowance for credit losses		$ (30)		$ (12)	(63)		$ (8)
Balance, end of period		(260)			(260)
Balance, beginning of period					(7)
(Addition to) release of allowance for credit losses		0		0	1		0
Balance, end of period		(5)			(5)
Balance, beginning of period					0
Balance, end of period		0			0
Loan commitments, allowance for credit loss		19		26	19		26
Transitional real estate loans
Allowance for Loan Losses by Portfolio Segment [Roll Forward]
Balance, beginning of period		(76)		(53)	(54)		(68)
(Addition to) release of allowance for credit losses		(35)	[1]	(2)	(57)	[1]	13
Write-offs, net of recoveries		0		0	0		0
Change in foreign exchange		0		0	0		0
Balance, end of period	[2]	(111)		(55)	(111)		(55)
Allowance for credit loss accounted for as purchased financial assets with credit deterioration		4			4
Commercial mortgage loans
Allowance for Loan Losses by Portfolio Segment [Roll Forward]
Balance, beginning of period		(9)		(8)	(9)		(10)
(Addition to) release of allowance for credit losses		(3)		(2)	(3)		0
Write-offs, net of recoveries		0		0	0		0
Change in foreign exchange		0		0	0		0
Balance, end of period	[2]	(12)		(10)	(12)		(10)
Middle market loans
Allowance for Loan Losses by Portfolio Segment [Roll Forward]
Balance, beginning of period		(140)		(109)	(129)		(96)
(Addition to) release of allowance for credit losses		3		(6)	(8)		(24)
Write-offs, net of recoveries		0		(2)	0		3
Change in foreign exchange		0		0	0		0
Balance, end of period	[2]	(137)		(117)	(137)		(117)
Held-to-maturity securities
Allowance for Loan Losses by Portfolio Segment [Roll Forward]
Balance, beginning of period		(5)		(7)	(7)		(8)
(Addition to) release of allowance for credit losses		1		0	1		0
Write-offs, net of recoveries		0		0	0		0
Change in foreign exchange		(1)		1	1		2
Balance, end of period	[2]	(5)		(6)	(5)		(6)
Available-for-sale securities
Allowance for Loan Losses by Portfolio Segment [Roll Forward]
Balance, beginning of period		0		0	0		0
(Addition to) release of allowance for credit losses		0		0	0		0
Write-offs, net of recoveries		0		0	0		0
Change in foreign exchange		0		0	0		0
Balance, end of period	[2]	0		0	0		0
Reinsurance recoverables
Allowance for Loan Losses by Portfolio Segment [Roll Forward]
Balance, beginning of period		(10)		(8)	(8)		(13)
(Addition to) release of allowance for credit losses)		0		0	(2)		2
Write-offs, net of recoveries		0		0	0		0
Change in foreign exchange		1		0	1		3
Balance, end of period	[2]	$ (9)		$ (8)	$ (9)		$ (8)
[1]Includes an allowance for credit losses of $4 recognized on financial assets accounted for as purchased financial assets with credit deterioration that is not recorded in earnings upon recognition.[2]Excludes allowance on firm loan commitments of $19 and $26 as of September 30, 2023 and 2022, respectively.

INVESTMENTS - Other Investments

INVESTMENTS - Other Investments (Details) - USD ($) $ in Millions		Sep. 30, 2023	Dec. 31, 2022
Investment Holdings [Line Items]
Other investments		$ 5,241	$ 4,070
Policy loans
Investment Holdings [Line Items]
Other investments		201	214
Short-term investments
Investment Holdings [Line Items]
Other investments	[1]	2,288	1,532
Limited partnerships
Investment Holdings [Line Items]
Other investments		2,629	2,290
Real estate owned
Investment Holdings [Line Items]
Other investments		89	0
Other
Investment Holdings [Line Items]
Other investments		$ 34	$ 34
[1]Includes securities lending collateral

INVESTMENTS - Investments in Co

INVESTMENTS - Investments in Consolidated Variable Interest Entities (Detail) - USD ($) $ in Millions		Sep. 30, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Fixed maturity securities, available-for-sale, amortized cost	[1]	$ 69,161
Fixed maturity securities, available-for-sale		69,801	$ 75,741
Commercial mortgage and other loans		12,873	13,496
Commercial mortgage and other loans, fair value		12,432	13,212
Other investments		5,241	4,070
Asset derivatives		578	617
Assets, fair value		79,159	82,924
Liability derivatives		1,666	1,698
Liabilities		102,442	111,598
Liabilities, fair value		1,666	1,698
Variable Interest Entity, Consolidated
Variable Interest Entity [Line Items]
Fixed maturity securities, available-for-sale, amortized cost	[2]	2,731	3,223
Fixed maturity securities, available-for-sale		3,432	3,805
Commercial mortgage and other loans	[2]	10,425	10,832
Commercial mortgage and other loans, fair value		10,097	10,762
Other investments	[2],[3]	2,278	1,909
Other investments, fair value	[3]	2,278	1,909
Asset derivatives, amortized cost	[2],[4]	59	62
Asset derivatives	[4]	59	62
Assets, amortized cost	[2]	15,493	16,026
Assets, fair value		15,866	16,538
Liability derivatives, amortized cost	[2],[4]	442	390
Liability derivatives	[4]	442	390
Liabilities	[2]	442	390
Liabilities, fair value		$ 442	$ 390
[1]Net of allowance for credit losses[2]Net of allowance for credit losses[3]Consists entirely of alternative investments in limited partnerships[4]Consists entirely of derivatives

INVESTMENTS - Investments in Va

INVESTMENTS - Investments in Variable Interest Entities Not Consolidated (Details) - USD ($) $ in Millions		Sep. 30, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Fixed maturity securities, available-for-sale, amortized cost		$ 69,161	$ 75,469
Fixed maturity securities, available-for-sale		69,801	75,741
Other investments		5,241	4,070
Assets, fair value		79,159	82,924
Variable Interest Entity, Not Consolidated
Variable Interest Entity [Line Items]
Fixed maturity securities, available-for-sale, amortized cost		5,741	3,998
Fixed maturity securities, available-for-sale		6,196	4,259
Other investments	[1]	351	381
Other investments, fair value	[1]	351	381
Assets, amortized cost		6,092	4,379
Assets, fair value		$ 6,547	$ 4,640
[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		Sep. 30, 2023	Dec. 31, 2022
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred		$ 4,607	$ 1,809
Gross amount of recognized liabilities for securities lending		4,607	1,809
Japan government and agencies
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred		3,935	1,087
Public utilities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred		17	12
Banks/financial institutions
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred		78	89
Other corporate
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred		577	621
Maturity Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred	[1]	672	722
Maturity Overnight and Continuous | Japan government and agencies
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred	[1]	0	0
Maturity Overnight and Continuous | Public utilities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred	[1]	17	12
Maturity Overnight and Continuous | Banks/financial institutions
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred	[1]	78	89
Maturity Overnight and Continuous | Other corporate
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred	[1]	577	621
Maturity up to 30 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred		3,684	1,087
Maturity up to 30 Days | Japan government and agencies
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred		3,684	1,087
Maturity up to 30 Days | Public utilities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred		0	0
Maturity up to 30 Days | Banks/financial institutions
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred		0	0
Maturity up to 30 Days | Other corporate
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred		0	$ 0
Maturity 30 to 90 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred		251
Maturity 30 to 90 Days | Japan government and agencies
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred		251
Maturity 30 to 90 Days | Public utilities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred		0
Maturity 30 to 90 Days | Banks/financial institutions
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred		0
Maturity 30 to 90 Days | Other corporate
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred		$ 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 (Detail) $ in Millions	3 Months Ended				9 Months Ended
	Sep. 30, 2023 USD ($)		Sep. 30, 2022 USD ($)		Sep. 30, 2023 USD ($) investment		Sep. 30, 2022 USD ($) investment		Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
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)	$ 47				$ 13
Transitional real estate loan commitments	661				661
Middle market loan program unfunded amount	19				19					$ 28
Middle market loan commitments	745				745
Amortized Cost	16,904				16,904					19,063
Loan commitments, allowance for credit loss	19		$ 26		19		$ 26
Limited partnerships investment commitments	$ 2,400				$ 2,400
Percentage that the lending policy requires that the fair value of the securities received as collateral be of the fair value of the loaned securities	102%				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%				100%
Securities Lending, Securities Received as Collateral	$ 5,100				$ 5,100					6,800
Repurchase Agreements and Repurchase-to-Maturity Transactions Outstanding	0				0					0
Credit allowance	260				260					192
Nonaccrual loans, interest income	0				0
Financing receivable, before allowance for credit loss	13,133				13,133					13,688
Real estate owned, amount of loss at acquisition	(53)		0		(53)		0
Real estate owned, held-for-sale	16				16
Real estate owned, held-and-used	73				73
Other investments	5,241				5,241					4,070
Real estate owned
Schedule of Investments [Line Items]
Other investments	89				89					0
Transitional real estate loans
Schedule of Investments [Line Items]
Nonaccrual loans, no allowance	65				65
Financing receivable, before allowance for credit loss	6,550				6,550
Real estate owned, amount of loss at acquisition	(53)				(53)
Amortized cost of foreclosure or deed in lieu foreclosure	142				142
Transitional real estate loans | Potential Foreclosure or Deed-in-lieu Foreclosure
Schedule of Investments [Line Items]
Credit allowance	35				35
Financing receivable, before allowance for credit loss	481				481
Amortized cost of financing receivable in anticipation of foreclosure	546				546
Middle market loans
Schedule of Investments [Line Items]
Nonaccrual loans, no allowance	0				0
Financing receivable, before allowance for credit loss	4,849				4,849
Transitional real estate loans
Schedule of Investments [Line Items]
Credit allowance	111	[1]	$ 55	[1]	111	[1]	$ 55	[1]	$ 76	54	$ 53	$ 68
Financing receivable, before allowance for credit loss	6,550				6,550					$ 6,509
Zero-credit-loss expectation | Japan government and agencies
Schedule of Investments [Line Items]
Amortized Cost	$ 16,100				$ 16,100
CALIFORNIA | Commercial Mortgage and Transitional Real Estate Loans | Mortgages
Schedule of Investments [Line Items]
Concentration Risk, Percentage					20%
TEXAS | Commercial Mortgage and Transitional Real Estate Loans | Mortgages
Schedule of Investments [Line Items]
Concentration Risk, Percentage					13%
FLORIDA | Commercial Mortgage and Transitional Real Estate Loans | Mortgages
Schedule of Investments [Line Items]
Concentration Risk, Percentage					10%
[1]Excludes allowance on firm loan commitments of $19 and $26 as of September 30, 2023 and 2022, respectively.

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	Sep. 30, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Notional Amount	$ 57,369	$ 49,190
Derivative Asset, Fair Value	578	617
Derivative Liability, Fair Value	1,666	1,698
Cash flow hedges
Derivatives, Fair Value [Line Items]
Notional Amount	18	18
Derivative Asset, Fair Value	0	0
Derivative Liability, Fair Value	4	3
Cash flow hedges | Foreign currency swaps | Variable Interest Entity, Consolidated
Derivatives, Fair Value [Line Items]
Notional Amount	18	18
Derivative Asset, Fair Value	0	0
Derivative Liability, Fair Value	4	3
Fair value hedges
Derivatives, Fair Value [Line Items]
Notional Amount	6,127	7,940
Derivative Asset, Fair Value	0	45
Derivative Liability, Fair Value	0	0
Fair value hedges | Foreign currency options
Derivatives, Fair Value [Line Items]
Notional Amount	6,127	7,940
Derivative Asset, Fair Value	0	45
Derivative Liability, Fair Value	0	0
Net investment hedge
Derivatives, Fair Value [Line Items]
Notional Amount	3,253	7,612
Derivative Asset, Fair Value	290	390
Derivative Liability, Fair Value	0	85
Net investment hedge | Foreign currency forwards
Derivatives, Fair Value [Line Items]
Notional Amount	2,383	4,982
Derivative Asset, Fair Value	290	383
Derivative Liability, Fair Value	0	85
Net investment hedge | Foreign currency options
Derivatives, Fair Value [Line Items]
Notional Amount	870	2,630
Derivative Asset, Fair Value	0	7
Derivative Liability, Fair Value	0	0
Non-qualifying strategies
Derivatives, Fair Value [Line Items]
Notional Amount	47,971	33,620
Derivative Asset, Fair Value	288	182
Derivative Liability, Fair Value	1,662	1,610
Non-qualifying strategies | Foreign currency swaps | Variable Interest Entity, Consolidated
Derivatives, Fair Value [Line Items]
Notional Amount	3,416	3,420
Derivative Asset, Fair Value	59	62
Derivative Liability, Fair Value	438	387
Non-qualifying strategies | Foreign currency swaps | Consolidated Entity Excluding Variable Interest Entities (VIE)
Derivatives, Fair Value [Line Items]
Notional Amount	1,200	1,900
Derivative Asset, Fair Value	39	66
Derivative Liability, Fair Value	0	0
Non-qualifying strategies | Foreign currency forwards
Derivatives, Fair Value [Line Items]
Notional Amount	7,402	5,049
Derivative Asset, Fair Value	189	17
Derivative Liability, Fair Value	588	640
Non-qualifying strategies | Foreign currency options
Derivatives, Fair Value [Line Items]
Notional Amount	18,223	5,521
Derivative Asset, Fair Value	1	30
Derivative Liability, Fair Value	0	0
Non-qualifying strategies | Interest rate swaps
Derivatives, Fair Value [Line Items]
Notional Amount	17,730	17,730
Derivative Asset, Fair Value	0	7
Derivative Liability, Fair Value	$ 636	$ 583

DERIVATIVE INSTRUMENTS - Gains

DERIVATIVE INSTRUMENTS - Gains (Losses) Recognized on Fair Value Hedging Relationships (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses) recognized for derivatives		$ (1)	$ (15)	$ (65)	$ (41)
Gains (losses) on derivatives excluded from effectiveness testing	[1]	(1)	(15)	(65)	(41)
Gains (losses) on derivatives included in effectiveness testing	[2]	0	0	0	0
Gains (losses) recognized for hedged items	[2]	0	0	0	0
Net realized gains (losses) recognized for fair value hedge		0	0	0	0
Fixed maturity securities | Foreign currency options
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses) recognized for derivatives		(1)	(15)	(65)	(41)
Gains (losses) on derivatives excluded from effectiveness testing	[1]	(1)	(15)	(65)	(41)
Gains (losses) on derivatives included in effectiveness testing	[2]	0	0	0	0
Gains (losses) recognized for hedged items	[2]	0	0	0	0
Net realized gains (losses) recognized for fair value hedge		$ 0	$ 0	$ 0	$ 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 statements 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 statements 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 (losses) consistent with the impact of the hedged item. For the three- and nine-month periods ended September 30, 2023 and 2022, 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		Sep. 30, 2023	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Carrying Amount of Hedged Assets/ (Liabilities)	[1]	$ 1,829	$ 2,360
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of Hedged Assets/(Liabilities)		$ 179	$ 189
[1]The balance includes hedging adjustment on discontinued hedging relationships of $179 in 2023 and $189 in 2022.

DERIVATIVE INSTRUMENTS - Deriva

DERIVATIVE INSTRUMENTS - Derivatives and Hedging Instruments Gain (Loss) Summary (Details) - USD ($) $ in Millions		3 Months Ended				9 Months Ended
		Sep. 30, 2023		Sep. 30, 2022		Sep. 30, 2023		Sep. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in other comprehensive income on derivative		$ 1		$ 1		$ 4		$ 2
Unrealized foreign currency translation gains (losses) during period		(194)		(438)		(674)		(1,641)
Derivative and non-derivative hedging instruments, gain (loss) recognized in other comprehensive income, before tax	[1]	145		418		908		1,766
Net investment income
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative	[2]	(1)		0		(2)		0
Net investment gains (losses)
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		(53)		(491)		(630)		(1,515)
Reclassification Out Of Accumulated Other Comprehensive Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instruments, cash flow hedges, gains (losses) reclassified from accumulated other comprehensive income into earnings		(1)		(1)		(3)		(3)
Derivative instruments, fair value hedges excluded component, gains (losses) reclassified from accumulated other comprehensive income into earnings						(1)		(1)
Cash flow hedges
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in other comprehensive income on derivative	[1]	1		1		3		2
Cash flow hedges | Net investment income
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative	[2]	(1)		0		(1)		0
Cash flow hedges | Net investment gains (losses)
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		(1)	[3]	(1)	[3]	(3)	[4]	(3)	[4]
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]	1		1		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)		0		(1)		0
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		(1)		(1)		(3)		(3)
Fair value hedges
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		(1)		(15)
Gains (losses) recognized in other comprehensive income on derivative	[1]					1		0
Fair value hedges | Net investment income
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative	[2]					(1)		0
Fair value hedges | Net investment gains (losses)
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative						(65)		(41)
Fair value hedges | Foreign currency options
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		(1)		(15)		(65)		(41)
Fair value hedges | Interest rate swaptions
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in other comprehensive income on derivative	[1],[5]					1		0
Fair value hedges | Interest rate swaptions | Net investment income
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative	[2],[5]					(1)		0
Fair value hedges | Interest rate swaptions | Net investment gains (losses)
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative	[5]					0		0
Net investment hedge
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		71		27		190		(75)
Unrealized foreign currency translation gains (losses) during period	[1]	144		417		904		1,764
Net investment hedge | Foreign currency options
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		0		(1)		(8)		(2)
Unrealized foreign currency translation gains (losses) during period	[1]	0		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		0
Unrealized foreign currency translation gains (losses) during period	[1]	112		181		450		705
Net investment hedge | Foreign currency forwards
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		71		28		198		(73)
Unrealized foreign currency translation gains (losses) during period	[1]	32		236		454		1,059
Non-qualifying strategies
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		(122)		(502)		(752)		(1,396)
Non-qualifying strategies | Foreign currency swaps | Variable Interest Entity
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		(22)		(19)		(112)		(35)
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		1		27		4		162
Non-qualifying strategies | Foreign currency options
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		(9)		0		(46)		(13)
Non-qualifying strategies | Foreign currency forwards
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		32		(252)		(350)		(966)
Non-qualifying strategies | Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		(124)		(257)		(244)		(523)
Non-qualifying strategies | Forward bond purchase commitment | Variable Interest Entity
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in income on derivative		$ 0		$ (1)		$ (4)		$ (21)
[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 statements of comprehensive income (loss).

DERIVATIVE INSTRUMENTS - Offset

DERIVATIVE INSTRUMENTS - Offsetting of Financial Assets and Derivative Assets (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Offsetting Assets [Line Items]
Gross amount of recognized derivative assets	$ 519	$ 555
Gross amount of liabilities offset in balance sheet	0	0
Net amount of derivative assets presented in balance sheet	519	555
Financial instruments, amount not offset	(189)	(174)
Derivative, collateral, obligation to return securities	(103)	(60)
Derivative, collateral, obligation to return cash	(225)	(320)
Derivative asset, fair value, amount offset against collateral, subject to master netting agreement	2	1
Derivative asset, not subject to master netting arrangement	59	62
Derivative asset, fair value, gross asset including not subject to master netting arrangement	578	617
Net amount of derivative assets presented in balance sheet	578	617
Derivative asset, fair value, amount offset against collateral	61	63
Securities lending, gross amounts of recognized financial instruments	4,563	1,788
Securities lending, gross amounts offset in balance sheet	0	0
Securities lending, net amounts of assets presented in balance sheet	4,563	1,788
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	(4,563)	(1,788)
Securities lending, financial instruments, amount of assets offset against collateral	0	0
Gross amount of recognized assets	5,141	2,405
Gross amounts offset in balance sheet	0	0
Net amounts of assets presented in balance sheet	5,141	2,405
Carrying value of financial instruments not offset in balance sheet	(189)	(174)
Securities collateral, not offset in balance sheet	(103)	(60)
Cash collateral, not offset in balance sheet	(4,788)	(2,108)
Financial instruments, amount of assets offset against collateral	61	63
OTC - Bilateral
Offsetting Assets [Line Items]
Gross amount of recognized derivative assets	519	548
Gross amount of liabilities offset in balance sheet	0	0
Net amount of derivative assets presented in balance sheet	519	548
Financial instruments, amount not offset	(189)	(167)
Derivative, collateral, obligation to return securities	(103)	(60)
Derivative, collateral, obligation to return cash	(225)	(320)
Derivative asset, fair value, amount offset against collateral, subject to master netting agreement	2	1
Derivative asset, not subject to master netting arrangement	59	62
OTC- Cleared
Offsetting Assets [Line Items]
Gross amount of recognized derivative assets	0	7
Gross amount of liabilities offset in balance sheet	0	0
Net amount of derivative assets presented in balance sheet	0	7
Financial instruments, amount not offset	0	(7)
Derivative, collateral, obligation to return securities	0	0
Derivative, collateral, obligation to return cash	0	0
Derivative asset, fair value, amount offset against collateral, subject to master netting agreement	$ 0	$ 0

DERIVATIVE INSTRUMENTS - Offs_2

DERIVATIVE INSTRUMENTS - Offsetting of Financial Liabilities and Derivative Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Offsetting Liabilities [Line Items]
Gross amount of recognized derivative liabilities	$ 1,224	$ 1,308
Gross amount of assets offset in balance sheet	0	0
Derivative liability, fair value, amount not offset against collateral	1,224	1,308
Financial instruments, amount not offset	(189)	(174)
Derivative, collateral, right to reclaim securities	(365)	(506)
Derivative, collateral, right to reclaim cash	(669)	(629)
Derivative liability, fair value, amount offset against collateral, subject to master netting agreement	1	(1)
Derivative liability, not subject to master netting arrangement	442	390
Derivative liability, fair value, gross liability including not subject to master netting arrangement	1,666	1,698
Net amount of derivative liabilities presented in balance sheet	1,666	1,698
Derivative liability, fair value, amount offset against collateral	443	389
Securities lending, gross amounts of recognized financial instruments, offsetting liabilities	4,607	1,809
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	4,607	1,809
Securities lending, carrying value of financial instruments, liabilities not offset in balance sheet	(4,563)	(1,788)
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	44	21
Gross amounts of recognized financial instruments, offsetting liabilities	6,273	3,507
Gross amounts offset in statement of financial position, offsetting liabilities	0	0
Net amounts of financial instruments presented in balance sheet, offsetting liabilities	6,273	3,507
Carrying value of financial instruments, liabilities not offset in balance sheet	(4,752)	(1,962)
Securities collateral, liabilities not offset in balance sheet	(365)	(506)
Cash collateral, liabilities not offset in balance sheet	(669)	(629)
Financial instruments, amount of liabilities offset against collateral	487	410
OTC - Bilateral
Offsetting Liabilities [Line Items]
Gross amount of recognized derivative liabilities	588	725
Gross amount of assets offset in balance sheet	0	0
Derivative liability, fair value, amount not offset against collateral	588	725
Financial instruments, amount not offset	(189)	(167)
Derivative, collateral, right to reclaim securities	(362)	(506)
Derivative, collateral, right to reclaim cash	(36)	(52)
Derivative liability, fair value, amount offset against collateral, subject to master netting agreement	1	0
Derivative liability, not subject to master netting arrangement	442	390
OTC- Cleared
Offsetting Liabilities [Line Items]
Gross amount of recognized derivative liabilities	636	583
Gross amount of assets offset in balance sheet	0	0
Derivative liability, fair value, amount not offset against collateral	636	583
Financial instruments, amount not offset	0	(7)
Derivative, collateral, right to reclaim securities	(3)	0
Derivative, collateral, right to reclaim cash	(633)	(577)
Derivative liability, fair value, amount offset against collateral, subject to master netting agreement	$ 0	$ (1)

DERIVATIVE INSTRUMENTS - Additi

DERIVATIVE INSTRUMENTS - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Derivative, Notional Amount	$ 57,369	$ 49,190
Derivative, net liability position, aggregate fair value	1,300	1,300
Additional Collateral, Aggregate Fair Value	227
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimated Net Amount to be Transferred	$ (5)
Maximum Length of Time Hedged in Cash Flow Hedge	3 years
Fair value hedges of interest rate risk	$ 0	$ 0
Senior notes | Interest rate swaps
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Derivative, Notional Amount	$ 1,200

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	Sep. 30, 2023	Dec. 31, 2022
Assets:
Fixed maturity securities, available-for-sale	$ 69,801	$ 75,741
Equity securities	990	1,091
Other investments	2,288	1,532
Cash and cash equivalents	5,502	3,943
Asset derivatives	578	617
Total assets	79,159	82,924
Liabilities:
Liability derivatives	1,666	1,698
Total liabilities	1,666	1,698
Foreign currency swaps
Assets:
Asset derivatives	98	128
Liabilities:
Liability derivatives	442	390
Foreign currency forwards
Assets:
Asset derivatives	479	400
Liabilities:
Liability derivatives	588	725
Foreign currency options
Assets:
Asset derivatives	1	82
Interest rate swaps
Assets:
Asset derivatives		7
Liabilities:
Liability derivatives	636	583
Government and agencies
Assets:
Fixed maturity securities, available-for-sale	21,952	25,114
Municipalities
Assets:
Fixed maturity securities, available-for-sale	2,141	2,320
Mortgage- and asset-backed securities
Assets:
Fixed maturity securities, available-for-sale	2,996	2,146
Public utilities
Assets:
Fixed maturity securities, available-for-sale	7,250	7,666
Sovereign and supranational
Assets:
Fixed maturity securities, available-for-sale	511	834
Banks/financial institutions
Assets:
Fixed maturity securities, available-for-sale	8,341	9,299
Other corporate
Assets:
Fixed maturity securities, available-for-sale	26,610	28,362
Level 1
Assets:
Fixed maturity securities, available-for-sale	21,095	24,158
Equity securities	787	822
Other investments	2,288	1,532
Cash and cash equivalents	5,502	3,943
Asset derivatives	0	0
Total assets	29,672	30,455
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:
Fixed maturity securities, available-for-sale	21,095	24,158
Level 1 | Municipalities
Assets:
Fixed maturity securities, available-for-sale	0	0
Level 1 | Mortgage- and asset-backed securities
Assets:
Fixed maturity securities, available-for-sale	0	0
Level 1 | Public utilities
Assets:
Fixed maturity securities, available-for-sale	0	0
Level 1 | Sovereign and supranational
Assets:
Fixed maturity securities, available-for-sale	0	0
Level 1 | Banks/financial institutions
Assets:
Fixed maturity securities, available-for-sale	0	0
Level 1 | Other corporate
Assets:
Fixed maturity securities, available-for-sale	0	0
Level 2
Assets:
Fixed maturity securities, available-for-sale	47,102	49,805
Equity securities	0	60
Other investments	0	0
Cash and cash equivalents	0	0
Asset derivatives	578	617
Total assets	47,680	50,482
Liabilities:
Total liabilities	1,666	1,698
Level 2 | Foreign currency swaps
Assets:
Asset derivatives	98	128
Liabilities:
Liability derivatives	442	390
Level 2 | Foreign currency forwards
Assets:
Asset derivatives	479	400
Liabilities:
Liability derivatives	588	725
Level 2 | Foreign currency options
Assets:
Asset derivatives	1	82
Level 2 | Interest rate swaps
Assets:
Asset derivatives		7
Liabilities:
Liability derivatives	636	583
Level 2 | Government and agencies
Assets:
Fixed maturity securities, available-for-sale	857	956
Level 2 | Municipalities
Assets:
Fixed maturity securities, available-for-sale	2,141	2,320
Level 2 | Mortgage- and asset-backed securities
Assets:
Fixed maturity securities, available-for-sale	2,316	1,803
Level 2 | Public utilities
Assets:
Fixed maturity securities, available-for-sale	6,991	7,169
Level 2 | Sovereign and supranational
Assets:
Fixed maturity securities, available-for-sale	480	797
Level 2 | Banks/financial institutions
Assets:
Fixed maturity securities, available-for-sale	8,271	9,140
Level 2 | Other corporate
Assets:
Fixed maturity securities, available-for-sale	26,046	27,620
Level 3
Assets:
Fixed maturity securities, available-for-sale	1,604	1,778
Equity securities	203	209
Other investments	0	0
Cash and cash equivalents	0	0
Asset derivatives	0	0
Total assets	1,807	1,987
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:
Fixed maturity securities, available-for-sale	0	0
Level 3 | Municipalities
Assets:
Fixed maturity securities, available-for-sale	0	0
Level 3 | Mortgage- and asset-backed securities
Assets:
Fixed maturity securities, available-for-sale	680	343
Level 3 | Public utilities
Assets:
Fixed maturity securities, available-for-sale	259	497
Level 3 | Sovereign and supranational
Assets:
Fixed maturity securities, available-for-sale	31	37
Level 3 | Banks/financial institutions
Assets:
Fixed maturity securities, available-for-sale	70	159
Level 3 | Other corporate
Assets:
Fixed maturity securities, available-for-sale	$ 564	$ 742

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	Sep. 30, 2023		Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments	$ 5,241		$ 4,070
Assets:
Amortized Cost	16,904		19,063
Fixed maturity securities, held-to-maturity, fair value	18,460		21,210
Commercial mortgage and other loans	12,873		13,496
Commercial mortgage and other loans, fair value	12,432		13,212
Other investments carried at amortized cost	34	[1]	34	[2]
Other investments carried at amortized cost, fair value	34	[1]	34	[2]
Total financial instruments assets not carried at fair value	29,806		32,586
Assets fair value disclosure financial instruments carried at cost	30,926		34,456
Liabilities:
Other policyholders’ funds	5,884		6,643
Other policyholders' funds fair value disclosure	5,795		6,543
Notes payable	6,824		7,295
Notes payable, fair value disclosure	6,268		6,826
Total financial instrument liabilities not carried at fair value	12,708		13,938
Liabilities fair value disclosure financial instruments carried at cost	12,063		13,369
Government and agencies
Assets:
Amortized Cost	16,200		18,267
Fixed maturity securities, held-to-maturity, fair value	17,687		20,312
Municipalities
Assets:
Amortized Cost	253		287
Fixed maturity securities, held-to-maturity, fair value	289		335
Public utilities
Assets:
Amortized Cost	33		37
Fixed maturity securities, held-to-maturity, fair value	36		41
Sovereign and supranational
Assets:
Amortized Cost	396		446
Fixed maturity securities, held-to-maturity, fair value	429		500
Other corporate
Assets:
Amortized Cost	17		19
Fixed maturity securities, held-to-maturity, fair value	19		22
Policy loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments	201		214
Equity method investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments	2,629		2,290
Real estate owned
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments	89		0
Level 1
Assets:
Fixed maturity securities, held-to-maturity, fair value	17,530		20,132
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	17,530		20,132
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:
Fixed maturity securities, held-to-maturity, fair value	17,530		20,132
Level 1 | Municipalities
Assets:
Fixed maturity securities, held-to-maturity, fair value	0		0
Level 1 | Public utilities
Assets:
Fixed maturity securities, held-to-maturity, fair value	0		0
Level 1 | Sovereign and supranational
Assets:
Fixed maturity securities, held-to-maturity, fair value	0		0
Level 1 | Other corporate
Assets:
Fixed maturity securities, held-to-maturity, fair value	0		0
Level 2
Assets:
Fixed maturity securities, held-to-maturity, fair value	930		1,078
Commercial mortgage and other loans, fair value	0		0
Other investments carried at amortized cost, fair value	34	[1]	34	[2]
Assets fair value disclosure financial instruments carried at cost	964		1,112
Liabilities:
Other policyholders' funds fair value disclosure	0		0
Notes payable, fair value disclosure	5,555		6,024
Liabilities fair value disclosure financial instruments carried at cost	5,555		6,024
Level 2 | Government and agencies
Assets:
Fixed maturity securities, held-to-maturity, fair value	157		180
Level 2 | Municipalities
Assets:
Fixed maturity securities, held-to-maturity, fair value	289		335
Level 2 | Public utilities
Assets:
Fixed maturity securities, held-to-maturity, fair value	36		41
Level 2 | Sovereign and supranational
Assets:
Fixed maturity securities, held-to-maturity, fair value	429		500
Level 2 | Other corporate
Assets:
Fixed maturity securities, held-to-maturity, fair value	19		22
Level 3
Assets:
Fixed maturity securities, held-to-maturity, fair value	0		0
Commercial mortgage and other loans, fair value	12,432		13,212
Other investments carried at amortized cost, fair value	0	[1]	0	[2]
Assets fair value disclosure financial instruments carried at cost	12,432		13,212
Liabilities:
Other policyholders' funds fair value disclosure	5,795		6,543
Notes payable, fair value disclosure	713		802
Liabilities fair value disclosure financial instruments carried at cost	6,508		7,345
Level 3 | Government and agencies
Assets:
Fixed maturity securities, held-to-maturity, fair value	0		0
Level 3 | Municipalities
Assets:
Fixed maturity securities, held-to-maturity, fair value	0		0
Level 3 | Public utilities
Assets:
Fixed maturity securities, held-to-maturity, fair value	0		0
Level 3 | Sovereign and supranational
Assets:
Fixed maturity securities, held-to-maturity, fair value	0		0
Level 3 | Other corporate
Assets:
Fixed maturity securities, held-to-maturity, fair value	$ 0		$ 0
[1] Excludes policy loans of $201, equity method investments of $2,629 and REO of $89, at carrying valu e

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	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	$ 69,801	$ 75,741
Equity securities	990	1,091
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	21,095	24,158
Equity securities	787	822
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	47,102	49,805
Equity securities	0	60
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	1,604	1,778
Equity securities	203	209
Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	787	882
Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	787	822
Third party pricing vendor valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	60
Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Broker/other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	203	209
Broker/other | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Broker/other | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Broker/other | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	203	209
Government and agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	21,952	25,114
Government and agencies | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	21,095	24,158
Government and agencies | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	857	956
Government and agencies | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Government and agencies | Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	21,617	24,740
Government and agencies | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	21,095	24,158
Government and agencies | Third party pricing vendor valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	522	582
Government and agencies | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Government and agencies | Internal valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	335	374
Government and agencies | Internal valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Government and agencies | Internal valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	335	374
Government and agencies | Internal valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Municipalities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	2,141	2,320
Municipalities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Municipalities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	2,141	2,320
Municipalities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Municipalities | Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	1,870	2,021
Municipalities | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Municipalities | Third party pricing vendor valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	1,870	2,021
Municipalities | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Municipalities | Internal valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	271	299
Municipalities | Internal valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Municipalities | Internal valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	271	299
Municipalities | Internal valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Mortgage- and asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	2,996	2,146
Mortgage- and asset-backed securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Mortgage- and asset-backed securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	2,316	1,803
Mortgage- and asset-backed securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	680	343
Mortgage- and asset-backed securities | Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	2,274	1,798
Mortgage- and asset-backed securities | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Mortgage- and asset-backed securities | Third party pricing vendor valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	2,274	1,798
Mortgage- and asset-backed securities | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Mortgage- and asset-backed securities | Internal valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	113	3
Mortgage- and asset-backed securities | Internal valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Mortgage- and asset-backed securities | Internal valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	12	3
Mortgage- and asset-backed securities | Internal valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	101	0
Mortgage- and asset-backed securities | Broker/other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	609	345
Mortgage- and asset-backed securities | Broker/other | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Mortgage- and asset-backed securities | Broker/other | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	30	2
Mortgage- and asset-backed securities | Broker/other | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	579	343
Public utilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	7,250	7,666
Public utilities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Public utilities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	6,991	7,169
Public utilities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	259	497
Public utilities | Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	3,575	3,786
Public utilities | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	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]
Fixed maturity securities, available-for-sale	3,575	3,786
Public utilities | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Public utilities | Internal valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	3,331	3,383
Public utilities | Internal valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Public utilities | Internal valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	3,331	3,383
Public utilities | Internal valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Public utilities | Broker/other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	344	497
Public utilities | Broker/other | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Public utilities | Broker/other | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	85	0
Public utilities | Broker/other | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	259	497
Sovereign and supranational
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	511	834
Sovereign and supranational | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Sovereign and supranational | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	480	797
Sovereign and supranational | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	31	37
Sovereign and supranational | Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	143	232
Sovereign and supranational | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	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]
Fixed maturity securities, available-for-sale	143	232
Sovereign and supranational | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Sovereign and supranational | Internal valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	337	565
Sovereign and supranational | Internal valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Sovereign and supranational | Internal valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	337	565
Sovereign and supranational | Internal valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Sovereign and supranational | Broker/other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	31	37
Sovereign and supranational | Broker/other | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Sovereign and supranational | Broker/other | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Sovereign and supranational | Broker/other | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	31	37
Banks/financial institutions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	8,341	9,299
Banks/financial institutions | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Banks/financial institutions | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	8,271	9,140
Banks/financial institutions | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	70	159
Banks/financial institutions | Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	4,249	4,622
Banks/financial institutions | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Banks/financial institutions | Third party pricing vendor valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	4,249	4,622
Banks/financial institutions | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Banks/financial institutions | Internal valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	4,083	4,623
Banks/financial institutions | Internal valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Banks/financial institutions | Internal valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	4,022	4,518
Banks/financial institutions | Internal valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	61	105
Banks/financial institutions | Broker/other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	9	54
Banks/financial institutions | Broker/other | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Banks/financial institutions | Broker/other | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Banks/financial institutions | Broker/other | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	9	54
Other corporate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	26,610	28,362
Other corporate | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Other corporate | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	26,046	27,620
Other corporate | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	564	742
Other corporate | Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	20,854	22,268
Other corporate | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	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]
Fixed maturity securities, available-for-sale	20,854	22,268
Other corporate | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Other corporate | Internal valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	5,314	5,552
Other corporate | Internal valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Other corporate | Internal valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	5,105	5,352
Other corporate | Internal valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	209	200
Other corporate | Broker/other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	442	542
Other corporate | Broker/other | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	0	0
Other corporate | Broker/other | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	87	0
Other corporate | Broker/other | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, available-for-sale	$ 355	$ 542

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	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	$ 18,460	$ 21,210
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	17,530	20,132
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	930	1,078
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	0	0
Government and agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	17,687	20,312
Government and agencies | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	17,530	20,132
Government and agencies | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	157	180
Government and agencies | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, 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]
Fixed maturity securities, held-to-maturity, fair value	17,687	20,312
Government and agencies | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	17,530	20,132
Government and agencies | Third party pricing vendor valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	157	180
Government and agencies | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	0	0
Municipalities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	289	335
Municipalities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	0	0
Municipalities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	289	335
Municipalities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	0	0
Municipalities | Third party pricing vendor valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	289	335
Municipalities | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, 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]
Fixed maturity securities, held-to-maturity, fair value	289	335
Municipalities | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	0	0
Public utilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	36	41
Public utilities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	0	0
Public utilities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	36	41
Public utilities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, 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]
Fixed maturity securities, held-to-maturity, fair value	36	41
Public utilities | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, 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]
Fixed maturity securities, held-to-maturity, fair value	36	41
Public utilities | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	0	0
Sovereign and supranational
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	429	500
Sovereign and supranational | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	0	0
Sovereign and supranational | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	429	500
Sovereign and supranational | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, 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]
Fixed maturity securities, held-to-maturity, fair value	213	242
Sovereign and supranational | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, 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]
Fixed maturity securities, held-to-maturity, fair value	213	242
Sovereign and supranational | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	0	0
Sovereign and supranational | Broker/other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value		258
Sovereign and supranational | Broker/other | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value		0
Sovereign and supranational | Broker/other | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value		258
Sovereign and supranational | Broker/other | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value		0
Sovereign and supranational | Internal valuation technique
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	216
Sovereign and supranational | Internal valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	0
Sovereign and supranational | Internal valuation technique | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	216
Sovereign and supranational | Internal valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	0
Other corporate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	19	22
Other corporate | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	0	0
Other corporate | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, fair value	19	22
Other corporate | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, 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]
Fixed maturity securities, held-to-maturity, fair value	19	22
Other corporate | Third party pricing vendor valuation technique | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, 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]
Fixed maturity securities, held-to-maturity, fair value	19	22
Other corporate | Third party pricing vendor valuation technique | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturity securities, held-to-maturity, 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	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	$ 1,840	$ 1,797	$ 1,987	$ 1,471
Net investment gains (losses) included in earnings	(7)	(1)	(13)	1
Unrealized gains (losses) included in other comprehensive income (loss)	(69)	(97)	(76)	(311)
Purchases	127	306	577	698
Issuances	0	0	0	0
Sales	0	0	0	0
Settlements	(17)	(232)	(171)	(314)
Transfers into Level 3	42	68	184	496
Transfers out of Level 3	(109)	(24)	(681)	(224)
Balance, end of period	1,807	1,817	1,807	1,817
Changes in unrealized gains (losses) relating to Level 3 assets and liabilities still held at the end of the period included in earnings	(3)	(1)	(7)	(3)
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	652	311	343	291
Net investment gains (losses) included in earnings	0	0	0	0
Unrealized gains (losses) included in other comprehensive income (loss)	(13)	(12)	(23)	(81)
Purchases	55	56	383	222
Issuances	0	0	0	0
Sales	0	0	0	0
Settlements	(11)	(21)	(144)	(59)
Transfers into Level 3	0	0	124	0
Transfers out of Level 3	(3)	(24)	(3)	(63)
Balance, end of period	680	310	680	310
Changes in unrealized gains (losses) relating to Level 3 assets and liabilities still held at the end of the period included in earnings	0	0	1	0
Fixed maturity securities | Public utilities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	302	537	497	493
Net investment gains (losses) included in earnings	0	1	0	2
Unrealized gains (losses) included in other comprehensive income (loss)	(12)	(30)	(18)	(111)
Purchases	36	7	36	35
Issuances	0	0	0	0
Sales	0	0	0	0
Settlements	(6)	(8)	(15)	(40)
Transfers into Level 3	0	0	18	128
Transfers out of Level 3	(61)	0	(259)	0
Balance, end of period	259	507	259	507
Changes in unrealized gains (losses) relating to Level 3 assets and liabilities still held at the end of the period included in earnings	0	1	1	1
Fixed maturity securities | Sovereign and supranational
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	32	36	37	43
Net investment gains (losses) included in earnings	0	0	0	0
Unrealized gains (losses) included in other comprehensive income (loss)	(1)	(2)	(4)	(9)
Purchases	0	0	0	0
Issuances	0	0	0	0
Sales	0	0	0	0
Settlements	0	0	(2)	0
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Balance, end of period	31	34	31	34
Changes in unrealized gains (losses) relating to Level 3 assets and liabilities still held at the end of the period included in earnings	0	0	0	0
Fixed maturity securities | Banks/financial institutions
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	69	91	159	45
Net investment gains (losses) included in earnings	0	1	0	1
Unrealized gains (losses) included in other comprehensive income (loss)	(2)	(12)	2	(14)
Purchases	0	88	0	121
Issuances	0	0	0	0
Sales	0	0	0	0
Settlements	0	(20)	(7)	(23)
Transfers into Level 3	3	0	3	18
Transfers out of Level 3	0	0	(87)	0
Balance, end of period	70	148	70	148
Changes in unrealized gains (losses) relating to Level 3 assets and liabilities still held at the end of the period included in earnings	0	0	0	0
Fixed maturity securities | Other corporate
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	572	632	742	426
Net investment gains (losses) included in earnings	0	0	0	0
Unrealized gains (losses) included in other comprehensive income (loss)	(41)	(41)	(33)	(96)
Purchases	36	145	148	267
Issuances	0	0	0	0
Sales	0	0	0	0
Settlements	0	(183)	(3)	(185)
Transfers into Level 3	39	68	39	350
Transfers out of Level 3	(42)	0	(329)	(141)
Balance, end of period	564	621	564	621
Changes in unrealized gains (losses) relating to Level 3 assets and liabilities still held at the end of the period included in earnings	0	0	0	0
Equity securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning of period	213	190	209	173
Net investment gains (losses) included in earnings	(7)	(3)	(13)	(2)
Unrealized gains (losses) included in other comprehensive income (loss)	0	0	0	0
Purchases	0	10	10	53
Issuances	0	0	0	0
Sales	0	0	0	0
Settlements	0	0	0	(7)
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	(3)	0	(3)	(20)
Balance, end of period	203	197	203	197
Changes in unrealized gains (losses) relating to Level 3 assets and liabilities still held at the end of the period included in earnings	$ (3)	$ (2)	$ (9)	$ (4)

FAIR VALUE MEASUREMENTS - Fai_5

FAIR VALUE MEASUREMENTS - Fair Value Measurement Inputs and Valuation Techniques (Details) $ in Millions		Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		$ 69,801	$ 75,741
Equity securities		990	1,091
Total assets		79,159	82,924
Level 3
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		1,604	1,778
Equity securities		203	209
Total assets		1,807	1,987
Adjusted cost valuation technique | Level 3 | Private Financials
Fair Value Measurement Inputs and Valuation Techniques
Equity securities		203	209
Municipalities
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		2,141	2,320
Municipalities | Level 3
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		0	0
Mortgage- and asset-backed securities
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		2,996	2,146
Mortgage- and asset-backed securities | Level 3
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		680	343
Mortgage- and asset-backed securities | Consensus pricing valuation technique | Level 3 | Offered Quotes
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		$ 680	$ 343
Mortgage- and asset-backed securities | Consensus pricing valuation technique | Level 3 | Lower Limit | Offered Quotes
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale, measurement input	[1]	80.10	97.38
Mortgage- and asset-backed securities | Consensus pricing valuation technique | Level 3 | Upper Limit | Offered Quotes
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale, measurement input	[1]	105.93	106.71
Mortgage- and asset-backed securities | Consensus pricing valuation technique | Level 3 | Weighted Average | Offered Quotes
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale, measurement input	[1]	97.03	102.98
Public utilities
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		$ 7,250	$ 7,666
Public utilities | Level 3
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		259	497
Public utilities | Consensus pricing valuation technique | Level 3 | Offered Quotes
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		$ 259
Public utilities | Consensus pricing valuation technique | Level 3 | Lower Limit | Offered Quotes
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale, measurement input	[1]	93.16
Public utilities | Consensus pricing valuation technique | Level 3 | Upper Limit | Offered Quotes
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale, measurement input	[1]	98.77
Public utilities | Consensus pricing valuation technique | Level 3 | Weighted Average | Offered Quotes
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale, measurement input	[1]	95.08
Public utilities | Discounted cash flow technique | Level 3 | Credit Spreads
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale			$ 497
Public utilities | Discounted cash flow technique | Level 3 | Lower Limit | Credit Spreads
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale, measurement input	[2]		0.0128
Public utilities | Discounted cash flow technique | Level 3 | Upper Limit | Credit Spreads
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale, measurement input	[2]		0.0286
Public utilities | Discounted cash flow technique | Level 3 | Weighted Average | Credit Spreads
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale, measurement input	[2]		0.0192
Sovereign and supranational
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		$ 511	$ 834
Sovereign and supranational | Level 3
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		31	37
Sovereign and supranational | Consensus pricing valuation technique | Level 3 | Offered Quotes
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		31	37
Banks/financial institutions
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		8,341	9,299
Banks/financial institutions | Level 3
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		70	159
Banks/financial institutions | Discounted cash flow technique | Level 3 | Credit Spreads
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		70	$ 159
Banks/financial institutions | Discounted cash flow technique | Level 3 | Lower Limit | Credit Spreads
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale, measurement input	[2]		0.0067
Banks/financial institutions | Discounted cash flow technique | Level 3 | Upper Limit | Credit Spreads
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale, measurement input	[2]		0.0188
Banks/financial institutions | Discounted cash flow technique | Level 3 | Weighted Average | Credit Spreads
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale, measurement input	[2]		0.0113
Other corporate
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		26,610	$ 28,362
Other corporate | Level 3
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		564	742
Other corporate | Discounted cash flow technique | Level 3 | Credit Spreads
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale		$ 564	$ 742
Other corporate | Discounted cash flow technique | Level 3 | Lower Limit | Credit Spreads
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale, measurement input	[2]	0.0068	0.0066
Other corporate | Discounted cash flow technique | Level 3 | Upper Limit | Credit Spreads
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale, measurement input	[2]	0.0512	0.0647
Other corporate | Discounted cash flow technique | Level 3 | Weighted Average | Credit Spreads
Fair Value Measurement Inputs and Valuation Techniques
Fixed maturity securities, available-for-sale, measurement input	[2]	0.0207	0.0191
[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 - Schedule Of Deferred Policy Acquisition Costs (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Deferred Policy Acquisition Cost [Line Items]
Beginning balance			$ 9,239	$ 9,848	$ 9,848
Capitalization			804		1,052
Amortization expense	$ (201)	$ (194)	(608)	(598)	(792)
Foreign currency translation and other			(664)		(869)
Ending balance	8,771		8,771		9,239
Aflac Japan | Cancer
Deferred Policy Acquisition Cost [Line Items]
Beginning balance			3,035	3,464	3,464
Capitalization			247		291
Amortization expense			(139)		(188)
Foreign currency translation and other			(352)		(532)
Ending balance	2,791		2,791		3,035
Aflac Japan | Medical and other health
Deferred Policy Acquisition Cost [Line Items]
Beginning balance			2,161	2,372	2,372
Capitalization			93		161
Amortization expense			(80)		(112)
Foreign currency translation and other			(244)		(260)
Ending balance	1,930		1,930		2,161
Aflac Japan | Life insurance
Deferred Policy Acquisition Cost [Line Items]
Beginning balance			525	595	595
Capitalization			26		33
Amortization expense			(26)		(35)
Foreign currency translation and other			(58)		(68)
Ending balance	467		467		525
Aflac Japan | Other
Deferred Policy Acquisition Cost [Line Items]
Beginning balance			55	51	51
Capitalization			7		12
Amortization expense			(2)		(3)
Foreign currency translation and other			(7)		(5)
Ending balance	53		53		55
Aflac U.S. | Life insurance
Deferred Policy Acquisition Cost [Line Items]
Beginning balance			135	115	115
Capitalization			43		40
Amortization expense			(18)		(20)
Foreign currency translation and other			0		0
Ending balance	160		160		135
Aflac U.S. | Accident
Deferred Policy Acquisition Cost [Line Items]
Beginning balance			904	887	887
Capitalization			109		147
Amortization expense			(103)		(130)
Foreign currency translation and other			0		0
Ending balance	910		910		904
Aflac U.S. | Disability
Deferred Policy Acquisition Cost [Line Items]
Beginning balance			613	604	604
Capitalization			90		117
Amortization expense			(84)		(108)
Foreign currency translation and other			0		0
Ending balance	619		619		613
Aflac U.S. | Critical Care
Deferred Policy Acquisition Cost [Line Items]
Beginning balance			1,304	1,270	1,270
Capitalization			122		160
Amortization expense			(102)		(126)
Foreign currency translation and other			0		0
Ending balance	1,324		1,324		1,304
Aflac U.S. | Hospital Indemnity
Deferred Policy Acquisition Cost [Line Items]
Beginning balance			418	399	399
Capitalization			60		80
Amortization expense			(48)		(61)
Foreign currency translation and other			0		0
Ending balance	430		430		418
Aflac U.S. | Dental/Vision
Deferred Policy Acquisition Cost [Line Items]
Beginning balance			88	90	90
Capitalization			7		11
Amortization expense			(9)		(13)
Foreign currency translation and other			0		0
Ending balance	86		86		88
Aflac U.S. | Other
Deferred Policy Acquisition Cost [Line Items]
Beginning balance			1	$ 1	1
Capitalization			0		0
Amortization expense			3		4
Foreign currency translation and other			(3)		(4)
Ending balance	$ 1		$ 1		$ 1

POLICY LIABILITIES - Schedule o

POLICY LIABILITIES - Schedule of Changes in Present Value of Expected Net Premiums and Expected Future Policy Benefits (Details) - USD ($) $ in Millions		9 Months Ended	12 Months Ended
		Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Present value of expected future policy benefits:
Beginning balance		$ 141,463
Ending balance		123,918	$ 141,463
Net liability for future policy benefits		78,448	88,241
Aflac Japan | Cancer
Present value of expected premiums:
Beginning balance		19,298	25,893
Beginning balance at original discount rate		18,221	22,470
Effect of changes in cash flow assumptions			(166)	$ (639)
Effect of actual variances from expected experience			(261)	(284)
Adjusted beginning of period balance			17,794	21,547
Issuances		770	947
Interest accrual		312	459
Net premiums collected	[1]	(1,182)	(1,734)
Foreign currency translation		(2,023)	(2,997)
Other		(1)	(1)
Ending balance at original discount rate		15,670	18,221	22,470
Effect of changes in discount rate assumptions		823	1,077
Ending balance		16,493	19,298	25,893
Present value of expected future policy benefits:
Beginning balance		54,766	72,747
Beginning balance at original discount rate		47,677	56,807
Effect of changes in cash flow assumptions			(148)	(721)
Effect of actual variances from expected experience			(314)	(333)
Adjusted beginning of period balance			47,215	55,753
Issuances		787	960
Interest accrual		1,116	1,599
Benefit payments		(2,245)	(3,050)
Foreign currency translation		(5,327)	(7,585)
Other		0	0
Ending balance at original discount rate		41,546	47,677	56,807
Effect of changes in discount rate assumptions		5,663	7,089
Ending balance		47,209	54,766	72,747
Net liability for future policy benefits		30,716	35,468
Less: reinsurance recoverable		1,952	0
Net liability for future policy benefits after reinsurance recoverable		28,764	35,468
Aflac Japan | Medical and other health
Present value of expected premiums:
Beginning balance		16,714	21,174
Beginning balance at original discount rate		16,195	18,681
Effect of changes in cash flow assumptions			(473)	317
Effect of actual variances from expected experience			(90)	61
Adjusted beginning of period balance			15,632	19,059
Issuances		285	639
Interest accrual		255	364
Net premiums collected	[1]	(959)	(1,376)
Foreign currency translation		(1,767)	(2,488)
Other		(1)	(3)
Ending balance at original discount rate		13,445	16,195	18,681
Effect of changes in discount rate assumptions		449	519
Ending balance		13,894	16,714	21,174
Present value of expected future policy benefits:
Beginning balance		27,419	36,021
Beginning balance at original discount rate		27,566	31,398
Effect of changes in cash flow assumptions			(510)	352
Effect of actual variances from expected experience			(102)	83
Adjusted beginning of period balance			26,954	31,833
Issuances		295	646
Interest accrual		461	642
Benefit payments		(883)	(1,375)
Foreign currency translation		(3,064)	(4,180)
Other		0	0
Ending balance at original discount rate		23,763	27,566	31,398
Effect of changes in discount rate assumptions		(170)	(147)
Ending balance		23,593	27,419	36,021
Net liability for future policy benefits		9,699	10,705
Less: reinsurance recoverable		1,422	1,579
Net liability for future policy benefits after reinsurance recoverable		8,277	9,126
Aflac Japan | Life insurance
Present value of expected premiums:
Beginning balance		7,485	10,847
Beginning balance at original discount rate		7,284	10,064
Effect of changes in cash flow assumptions			44	(494)
Effect of actual variances from expected experience			(34)	(81)
Adjusted beginning of period balance			7,294	9,489
Issuances		267	221
Interest accrual		94	146
Net premiums collected	[1]	(778)	(1,229)
Foreign currency translation		(798)	(1,343)
Other		0	0
Ending balance at original discount rate		6,079	7,284	10,064
Effect of changes in discount rate assumptions		171	201
Ending balance		6,250	7,485	10,847
Present value of expected future policy benefits:
Beginning balance		31,954	42,720
Beginning balance at original discount rate		32,800	39,002
Effect of changes in cash flow assumptions			66	(550)
Effect of actual variances from expected experience			(43)	(91)
Adjusted beginning of period balance			32,823	38,361
Issuances		272	222
Interest accrual		472	670
Benefit payments		(1,090)	(1,248)
Foreign currency translation		(3,681)	(5,205)
Other		0	0
Ending balance at original discount rate		28,796	32,800	39,002
Effect of changes in discount rate assumptions		(868)	(846)
Ending balance		27,928	31,954	42,720
Net liability for future policy benefits		21,678	24,469
Less: reinsurance recoverable		0	0
Net liability for future policy benefits after reinsurance recoverable		21,678	24,469
Aflac Japan | Other
Present value of expected premiums:
Beginning balance		1,256	1,586
Beginning balance at original discount rate		1,242	1,461
Effect of changes in cash flow assumptions			(12)	25
Effect of actual variances from expected experience			(9)	(10)
Adjusted beginning of period balance			1,221	1,476
Issuances		19	62
Interest accrual		15	22
Net premiums collected	[1]	(85)	(123)
Foreign currency translation		(137)	(195)
Other		0	0
Ending balance at original discount rate		1,033	1,242	1,461
Effect of changes in discount rate assumptions		9	14
Ending balance		1,042	1,256	1,586
Present value of expected future policy benefits:
Beginning balance		5,582	7,322
Beginning balance at original discount rate		5,940	6,787
Effect of changes in cash flow assumptions			(27)	96
Effect of actual variances from expected experience			(7)	(10)
Adjusted beginning of period balance			5,906	6,873
Issuances		24	68
Interest accrual		76	106
Benefit payments		(154)	(202)
Foreign currency translation		(664)	(905)
Other		0	0
Ending balance at original discount rate		5,188	5,940	6,787
Effect of changes in discount rate assumptions		(332)	(358)
Ending balance		4,856	5,582	7,322
Net liability for future policy benefits		3,814	4,326
Less: reinsurance recoverable		0	0
Net liability for future policy benefits after reinsurance recoverable		3,814	4,326
Aflac U.S. | Life insurance
Present value of expected premiums:
Beginning balance		724	834
Beginning balance at original discount rate		799	780
Effect of changes in cash flow assumptions			61	(1)
Effect of actual variances from expected experience			(9)	(16)
Adjusted beginning of period balance			851	763
Issuances		137	146
Interest accrual		23	27
Net premiums collected	[1]	(101)	(131)
Foreign currency translation		0	0
Other		1	(6)
Ending balance at original discount rate		911	799	780
Effect of changes in discount rate assumptions		(105)	(75)
Ending balance		806	724	834
Present value of expected future policy benefits:
Beginning balance		1,526	1,843
Beginning balance at original discount rate		1,778	1,694
Effect of changes in cash flow assumptions			72	(1)
Effect of actual variances from expected experience			(12)	(21)
Adjusted beginning of period balance			1,838	1,672
Issuances		140	149
Interest accrual		50	62
Benefit payments		(81)	(103)
Foreign currency translation		0	0
Other		5	(2)
Ending balance at original discount rate		1,952	1,778	1,694
Effect of changes in discount rate assumptions		(344)	(252)
Ending balance		1,608	1,526	1,843
Net liability for future policy benefits		802	802
Less: reinsurance recoverable		11	9
Net liability for future policy benefits after reinsurance recoverable		791	793
Aflac U.S. | Accident
Present value of expected premiums:
Beginning balance		2,534	3,283
Beginning balance at original discount rate		2,760	2,999
Effect of changes in cash flow assumptions			(16)	(52)
Effect of actual variances from expected experience			(44)	(152)
Adjusted beginning of period balance			2,700	2,795
Issuances		256	355
Interest accrual		77	105
Net premiums collected	[1]	(356)	(496)
Foreign currency translation		0	0
Other		(5)	1
Ending balance at original discount rate		2,672	2,760	2,999
Effect of changes in discount rate assumptions		(283)	(226)
Ending balance		2,389	2,534	3,283
Present value of expected future policy benefits:
Beginning balance		3,098	3,949
Beginning balance at original discount rate		3,391	3,594
Effect of changes in cash flow assumptions			(11)	(70)
Effect of actual variances from expected experience			(61)	(177)
Adjusted beginning of period balance			3,319	3,347
Issuances		265	364
Interest accrual		95	128
Benefit payments		(340)	(456)
Foreign currency translation		0	0
Other		0	8
Ending balance at original discount rate		3,339	3,391	3,594
Effect of changes in discount rate assumptions		(375)	(293)
Ending balance		2,964	3,098	3,949
Net liability for future policy benefits		575	564
Less: reinsurance recoverable		0	0
Net liability for future policy benefits after reinsurance recoverable		575	564
Aflac U.S. | Disability
Present value of expected premiums:
Beginning balance		1,635	1,862
Beginning balance at original discount rate		1,775	1,760
Effect of changes in cash flow assumptions			(51)	5
Effect of actual variances from expected experience			(6)	(43)
Adjusted beginning of period balance			1,718	1,722
Issuances		293	384
Interest accrual		46	57
Net premiums collected	[1]	(292)	(382)
Foreign currency translation		0	0
Other		(6)	(6)
Ending balance at original discount rate		1,759	1,775	1,760
Effect of changes in discount rate assumptions		(162)	(140)
Ending balance		1,597	1,635	1,862
Present value of expected future policy benefits:
Beginning balance		2,445	2,871
Beginning balance at original discount rate		2,636	2,670
Effect of changes in cash flow assumptions			(59)	5
Effect of actual variances from expected experience			(21)	(48)
Adjusted beginning of period balance			2,556	2,627
Issuances		305	397
Interest accrual		72	94
Benefit payments		(349)	(483)
Foreign currency translation		0	0
Other		0	1
Ending balance at original discount rate		2,584	2,636	2,670
Effect of changes in discount rate assumptions		(233)	(191)
Ending balance		2,351	2,445	2,871
Net liability for future policy benefits		754	810
Less: reinsurance recoverable		0	0
Net liability for future policy benefits after reinsurance recoverable		754	810
Aflac U.S. | Critical Care
Present value of expected premiums:
Beginning balance		4,486	6,023
Beginning balance at original discount rate		5,050	5,391
Effect of changes in cash flow assumptions			(494)	(38)
Effect of actual variances from expected experience			(154)	(421)
Adjusted beginning of period balance			4,402	4,932
Issuances		397	537
Interest accrual		137	193
Net premiums collected	[1]	(440)	(612)
Foreign currency translation		0	0
Other		(5)	0
Ending balance at original discount rate		4,491	5,050	5,391
Effect of changes in discount rate assumptions		(630)	(564)
Ending balance		3,861	4,486	6,023
Present value of expected future policy benefits:
Beginning balance		11,489	15,388
Beginning balance at original discount rate		12,846	13,079
Effect of changes in cash flow assumptions			(592)	(43)
Effect of actual variances from expected experience			(188)	(465)
Adjusted beginning of period balance			12,066	12,571
Issuances		408	550
Interest accrual		396	539
Benefit payments		(668)	(823)
Foreign currency translation		0	0
Other		1	9
Ending balance at original discount rate		12,203	12,846	13,079
Effect of changes in discount rate assumptions		(1,743)	(1,357)
Ending balance		10,460	11,489	15,388
Net liability for future policy benefits		6,599	7,003
Less: reinsurance recoverable		0	0
Net liability for future policy benefits after reinsurance recoverable		6,599	7,003
Aflac U.S. | Hospital Indemnity
Present value of expected premiums:
Beginning balance		1,220	1,467
Beginning balance at original discount rate		1,365	1,380
Effect of changes in cash flow assumptions			(142)	42
Effect of actual variances from expected experience			(48)	(111)
Adjusted beginning of period balance			1,175	1,311
Issuances		203	273
Interest accrual		34	45
Net premiums collected	[1]	(187)	(261)
Foreign currency translation		0	0
Other		(3)	(3)
Ending balance at original discount rate		1,222	1,365	1,380
Effect of changes in discount rate assumptions		(150)	(145)
Ending balance		1,072	1,220	1,467
Present value of expected future policy benefits:
Beginning balance		2,074	2,552
Beginning balance at original discount rate		2,300	2,300
Effect of changes in cash flow assumptions			(194)	40
Effect of actual variances from expected experience			(68)	(130)
Adjusted beginning of period balance			2,038	2,210
Issuances		211	282
Interest accrual		64	85
Benefit payments		(207)	(277)
Foreign currency translation		0	0
Other		0	0
Ending balance at original discount rate		2,106	2,300	2,300
Effect of changes in discount rate assumptions		(259)	(226)
Ending balance		1,847	2,074	2,552
Net liability for future policy benefits		775	854
Less: reinsurance recoverable		0	0
Net liability for future policy benefits after reinsurance recoverable		775	854
Aflac U.S. | Dental/Vision
Present value of expected premiums:
Beginning balance		211	264
Beginning balance at original discount rate		231	241
Effect of changes in cash flow assumptions			(9)	10
Effect of actual variances from expected experience			(13)	(20)
Adjusted beginning of period balance			209	231
Issuances		31	33
Interest accrual		6	9
Net premiums collected	[1]	(30)	(42)
Foreign currency translation		0	0
Other		1	0
Ending balance at original discount rate		217	231	241
Effect of changes in discount rate assumptions		(23)	(20)
Ending balance		194	211	264
Present value of expected future policy benefits:
Beginning balance		488	616
Beginning balance at original discount rate		532	549
Effect of changes in cash flow assumptions			(14)	13
Effect of actual variances from expected experience			(17)	(23)
Adjusted beginning of period balance			501	539
Issuances		33	34
Interest accrual		15	21
Benefit payments		(44)	(62)
Foreign currency translation		0	0
Other		3	0
Ending balance at original discount rate		508	532	549
Effect of changes in discount rate assumptions		(58)	(44)
Ending balance		450	488	616
Net liability for future policy benefits		256	277
Less: reinsurance recoverable		0	0
Net liability for future policy benefits after reinsurance recoverable		256	277
Aflac U.S. | Other
Present value of expected premiums:
Beginning balance		110	153
Beginning balance at original discount rate		118	135
Effect of changes in cash flow assumptions			(9)	(12)
Effect of actual variances from expected experience			2	6
Adjusted beginning of period balance			111	129
Issuances		76	0
Interest accrual		4	5
Net premiums collected	[1]	(12)	(17)
Foreign currency translation		0	0
Other		8	1
Ending balance at original discount rate		187	118	135
Effect of changes in discount rate assumptions		(15)	(8)
Ending balance		172	110	153
Present value of expected future policy benefits:
Beginning balance		622	837
Beginning balance at original discount rate		624	645
Effect of changes in cash flow assumptions			(13)	(15)
Effect of actual variances from expected experience			2	7
Adjusted beginning of period balance			613	637
Issuances		76	0
Interest accrual		24	32
Benefit payments		(35)	(45)
Foreign currency translation		0	0
Other		9	0
Ending balance at original discount rate		687	624	645
Effect of changes in discount rate assumptions		(35)	(2)
Ending balance		652	622	$ 837
Net liability for future policy benefits		480	512
Less: reinsurance recoverable		0	0
Net liability for future policy benefits after reinsurance recoverable		$ 480	$ 512
[1]Net premiums collected represent the portion of gross premiums collected from policyholders that is used to fund expected future benefit payments.

POLICY LIABILITIES - Schedule_2

POLICY LIABILITIES - Schedule of Weighted-Average Interest Rate and Liability for Future Policy Benefit (Details)		Sep. 30, 2023	Dec. 31, 2022
Cancer | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest, original discount rate	[1]	3.90%	4.10%
Weighted-average interest, current discount rate	[1]	1.80%	1.60%
Weighted-average liability duration		13 years 1 month 6 days	13 years 8 months 12 days
Medical and other health | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest, original discount rate	[1]	2.60%	2.60%
Weighted-average interest, current discount rate	[1]	2.30%	2.20%
Weighted-average liability duration		25 years 2 months 12 days	26 years 10 months 24 days
Life insurance | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest, original discount rate	[1]	2.10%	2.10%
Weighted-average interest, current discount rate	[1]	1.70%	1.60%
Weighted-average liability duration		16 years 4 months 24 days	17 years 3 months 18 days
Life insurance | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest, original discount rate	[1]	3.70%	3.70%
Weighted-average interest, current discount rate	[1]	5.40%	4.80%
Weighted-average liability duration		13 years 10 months 24 days	13 years 1 month 6 days
Accident | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest, original discount rate	[1]	3.90%	3.80%
Weighted-average interest, current discount rate	[1]	5.40%	4.80%
Weighted-average liability duration		8 years 3 months 18 days	8 years 6 months
Disability | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest, original discount rate	[1]	4.20%	4.20%
Weighted-average interest, current discount rate	[1]	5.40%	4.70%
Weighted-average liability duration		5 years 6 months	5 years 7 months 6 days
Critical Care | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest, original discount rate	[1]	4.60%	4.60%
Weighted-average interest, current discount rate	[1]	5.40%	4.80%
Weighted-average liability duration		11 years 3 months 18 days	12 years
Hospital Indemnity | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest, original discount rate	[1]	4.40%	4.40%
Weighted-average interest, current discount rate	[1]	5.40%	4.80%
Weighted-average liability duration		9 years 3 months 18 days	9 years 4 months 24 days
Dental/Vision | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest, original discount rate	[1]	4.30%	4.30%
Weighted-average interest, current discount rate	[1]	5.40%	4.80%
Weighted-average liability duration		8 years	8 years 1 month 6 days
Other | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest, original discount rate	[1]	1.80%	1.80%
Weighted-average interest, current discount rate	[1]	2%	1.90%
Weighted-average liability duration		17 years 6 months	18 years 2 months 12 days
Other | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Weighted-average interest, original discount rate	[1]	5.40%	5.40%
Weighted-average interest, current discount rate	[1]	5.40%	4.80%
Weighted-average liability duration		9 years 6 months	9 years 7 months 6 days
[1]The weighted-average interest rates are calculated using the reserve balances as the weights. No adjustments were made to observable market information.

POLICY LIABILITIES - Reconcilia

POLICY LIABILITIES - Reconciliation of Future Policy Benefits (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Liability for Future Policy Benefit, Activity [Line Items]
Deferred profit liability - limited-payment contracts	$ 1,669	$ 1,740
Deferred profit liability - reinsurance	590	692
Future policy benefits	78,448	88,241
Intercompany eliminations
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	(2,334)	(667)
Corporate and other
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	2,375	686
Cancer | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	30,716	35,468
Medical and other health | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	9,699	10,705
Life insurance | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	21,678	24,469
Life insurance | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	802	802
Accident | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	575	564
Disability | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	754	810
Critical Care | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	6,599	7,003
Hospital Indemnity | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	775	854
Dental/Vision | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	256	277
Other | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	3,814	4,326
Other | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits	$ 480	$ 512

POLICY LIABILITIES - Summary of

POLICY LIABILITIES - Summary of Net Earned Premiums Recognized (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Liability for Future Policy Benefit, Activity [Line Items]
Net earned premiums	[1]	$ 3,476	$ 3,535	$ 10,737	$ 11,379
Reinsurance ceded		(99)	(99)	(309)	(321)
Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Net earned premiums	[1]	1,973	2,125	6,207	7,084
Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Net earned premiums		1,419	1,375	4,272	4,182
Corporate and other
Liability for Future Policy Benefit, Activity [Line Items]
Net earned premiums		83	35	258	112
Cancer | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Net earned premiums		1,004	1,106	3,154	3,640
Medical and other health | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Net earned premiums		640	690	2,018	2,253
Life insurance | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Net earned premiums		371	377	1,183	1,360
Life insurance | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Net earned premiums		122	99	351	297
Accident | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Net earned premiums		320	324	973	990
Disability | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Net earned premiums		315	293	941	882
Critical Care | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Net earned premiums		436	434	1,317	1,319
Hospital Indemnity | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Net earned premiums		180	178	547	546
Dental/Vision | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Net earned premiums		53	50	160	148
Other | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Net earned premiums		38	39	113	124
Other | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Net earned premiums		$ 13	$ 9	$ 31	$ 29
[1]Includes a gain (loss) of $22 and $(41) for the three-month periods and $22 and $(42) for the nine-month periods ended September 30, 2023 and 2022, respectively, related to remeasurement of the deferred profit liability for limited-payment contracts.

POLICY LIABILITIES - Summary _2

POLICY LIABILITIES - Summary of Interest Expense Related to Insurance Contracts Recognized (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Liability for Future Policy Benefit, Activity [Line Items]
Interest expense	$ 568	$ 563	$ 1,838	$ 1,929
Cancer | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Interest expense	243	242	804	868
Medical and other health | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Interest expense	63	59	206	210
Life insurance | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Interest expense	115	112	378	397
Life insurance | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Interest expense	8	9	27	26
Accident | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Interest expense	6	6	18	18
Disability | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Interest expense	8	9	26	27
Critical Care | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Interest expense	86	87	259	259
Hospital Indemnity | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Interest expense	10	11	30	31
Dental/Vision | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Interest expense	3	3	9	10
Other | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Interest expense	19	18	61	63
Other | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Interest expense	$ 7	$ 7	$ 20	$ 20

POLICY LIABILITIES - Summary _3

POLICY LIABILITIES - Summary of Undiscounted Expected Future Gross Premiums and Future Benefits and Expenses (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	$ 183,998	$ 191,005
Benefits and Expenses	230,333	235,775
Cancer | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	73,299	75,529
Benefits and Expenses	82,368	84,246
Medical and other health | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	48,031	50,720
Benefits and Expenses	49,223	50,778
Life insurance | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	15,926	16,946
Benefits and Expenses	52,692	53,271
Life insurance | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	2,692	2,375
Benefits and Expenses	3,208	2,787
Accident | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	9,246	9,481
Benefits and Expenses	4,595	4,636
Disability | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	5,800	5,858
Benefits and Expenses	3,215	3,267
Critical Care | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	20,099	21,069
Benefits and Expenses	20,748	22,113
Hospital Indemnity | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	5,005	5,164
Benefits and Expenses	3,058	3,338
Dental/Vision | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	1,168	1,208
Benefits and Expenses	726	759
Other | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	2,223	2,322
Benefits and Expenses	9,249	9,433
Other | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	509	333
Benefits and Expenses	$ 1,251	$ 1,147

POLICY LIABILITIES - Summary _4

POLICY LIABILITIES - Summary of Discounted Expected Future Gross Premiums and Future Benefits and Expenses (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	$ 115,301	$ 132,451
Benefits and Expenses	123,918	141,463
Cancer | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	45,569	53,278
Benefits and Expenses	47,209	54,766	$ 72,747
Medical and other health | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	29,117	34,693
Benefits and Expenses	23,593	27,419	36,021
Life insurance | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	10,780	12,951
Benefits and Expenses	27,928	31,954	42,720
Life insurance | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	1,797	1,663
Benefits and Expenses	1,608	1,526	1,843
Accident | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	6,144	6,510
Benefits and Expenses	2,964	3,098	3,949
Disability | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	4,319	4,468
Benefits and Expenses	2,351	2,445	2,871
Critical Care | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	11,752	12,659
Benefits and Expenses	10,460	11,489	15,388
Hospital Indemnity | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	3,301	3,483
Benefits and Expenses	1,847	2,074	2,552
Dental/Vision | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	768	821
Benefits and Expenses	450	488	616
Other | Aflac Japan
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	1,438	1,697
Benefits and Expenses	4,856	5,582	7,322
Other | Aflac U.S.
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	316	228
Benefits and Expenses	$ 652	$ 622	$ 837

POLICY LIABILITIES - Schedule_3

POLICY LIABILITIES - Schedule of Changes in Other Policyholders' Funds (Details) - USD ($) $ in Millions		9 Months Ended	12 Months Ended
		Sep. 30, 2023	Dec. 31, 2022
Policyholder Account Balance [Line Items]
Other deposit type reserves		$ 232	$ 220
Total		5,884	6,643
Aflac Japan | Fixed Annuity
Policyholder Account Balance [Line Items]
Beginning balance	[1]	6,423	7,410
Premiums received	[1]	90	150
Transfers from WAYS conversions	[1]	162	214
Surrenders and withdrawals	[1]	(40)	(52)
Benefit payments	[1]	(296)	(367)
Interest credited	[1]	37	57
Foreign currency translation and other	[1]	(724)	(989)
Ending balance	[1]	$ 5,652	$ 6,423
[1]Aflac Japan fixed annuities

POLICY LIABILITIES - Schedule_4

POLICY LIABILITIES - Schedule of Other Policyholders' Funds by Guaranteed Crediting Rates (Details) - USD ($) $ in Millions		Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance, Weighted Average Crediting Rate		1.50%	1.50%
Aflac Japan | Fixed Annuity
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
At Guaranteed Minimum	[1]	$ 5,652	$ 6,423	$ 7,410
Cash Surrender Value	[1]	$ 5,564	$ 6,326
Lower Limit | Aflac Japan | Fixed Annuity
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Guaranteed Minimum Crediting Rates	[1],[2]	0.50%	0.50%
Upper Limit | Aflac Japan | Fixed Annuity
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Guaranteed Minimum Crediting Rates	[1],[2]	2.30%	2.30%
[1]Aflac Japan fixed annuities[2]Weighted-average crediting rate of 1.5% at September 30, 2023 and December 31, 2022.

POLICY LIABILITIES - Additional

POLICY LIABILITIES - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended		12 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Liability for Future Policy Benefit, by Product Segment [Line Items]
Effect of changes in discount rate assumptions during period, net of income taxes	$ 4,193	$ (165)	$ (2,794)	$ 2,428	$ 5,105	$ 4,224	$ 1,200	$ 11,800	$ 13,700
Adjustment for actual variances from expected experience, reserve remeasurement (gain) loss	(54)			(18)			(161)	(77)
Reserve remeasurement (gains) losses	$ (205)			$ (93)			$ (312)	$ (152)	$ (215)

REINSURANCE - Effect of Reinsur

REINSURANCE - Effect of Reinsurance on Premiums and Benefits and Claims (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Effects of Reinsurance [Line Items]
Direct earned premiums		$ 3,524	$ 3,565	$ 10,885	$ 11,472
Ceded premiums		(99)	(99)	(309)	(321)
Net earned premiums	[1]	3,476	3,535	10,737	11,379
Direct benefits and claims, excluding reserve remeasurement		2,106	2,178	6,545	7,029
Reserve remeasurement (gains) losses, direct benefits and claims		(219)	(73)	(327)	(132)
Direct benefits and claims		1,887	2,105	6,218	6,897
Reserve remeasurement (gains) losses, ceded benefits and claims		14	(20)	15	(20)
Benefits and claims, net		1,860	2,076	6,108	6,833
Intercompany eliminations
Effects of Reinsurance [Line Items]
Ceded benefits and claims		42	2	125	11
Assumed benefits and claims from other companies		(44)	(3)	(120)	(20)
All other
Effects of Reinsurance [Line Items]
Ceded premiums		(24)	(19)	(69)	(55)
Assumed premiums earned		18	34	65	116
Ceded benefits and claims		(49)	(2)	(154)	(21)
Assumed benefits and claims from other companies		52	25	156	104
Aflac Japan
Effects of Reinsurance [Line Items]
Net earned premiums	[1]	1,973	2,125	6,207	7,084
Aflac Japan | Closed Block
Effects of Reinsurance [Line Items]
Ceded premiums		(75)	(80)	(240)	(266)
Assumed premiums earned		33	35	96	112
Ceded benefits and claims		(71)	(72)	(222)	(237)
Assumed benefits and claims from other companies		$ 29	$ 41	$ 90	$ 119
[1]Includes a gain (loss) of $22 and $(41) for the three-month periods and $22 and $(42) for the nine-month periods ended September 30, 2023 and 2022, respectively, related to remeasurement of the deferred profit liability for limited-payment contracts.

REINSURANCE - Additional Inform

REINSURANCE - Additional Information (Details) $ in Millions, ¥ in Billions	1 Months Ended
	Jan. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2023 JPY (¥)	Dec. 31, 2022 USD ($)
Effects of Reinsurance [Line Items]
Deferred profit liability - reinsurance		$ 590		$ 692
Reinsurance recoverable		$ 895		$ 912
Aflac Life Insurance Japan (ALIJ) | Aflac Re Bermuda
Effects of Reinsurance [Line Items]
Ceded reinsurance, percentage	28%
Ceded reinsurance, amount of reserves transferred	$ 2,100
Ceded reinsurance, amount of assets transferred	$ 1,900
Aflac Life Insurance Japan (ALIJ) | Reinsurer, Other
Effects of Reinsurance [Line Items]
Ceded reinsurance, percentage	1.50%
Aflac Japan
Effects of Reinsurance [Line Items]
Committed reinsurance facility | ¥			¥ 120

NOTES PAYABLE AND LEASE OBLIG_3

NOTES PAYABLE AND LEASE OBLIGATIONS - Summary of Notes Payable (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Notes payable and lease obligations	$ 6,961	$ 7,442
Finance lease obligations	7	8
Operating lease obligations	130	139
1.125% senior sustainability notes due March 2026
Debt Instrument [Line Items]
Notes payable and lease obligations	398	397
2.875% senior notes due October 2026
Debt Instrument [Line Items]
Notes payable and lease obligations	299	298
3.60% senior notes due April 2030
Debt Instrument [Line Items]
Notes payable and lease obligations	993	992
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	254
4.00% senior notes 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	542	541
.300% senior notes due September 2025
Debt Instrument [Line Items]
Notes payable and lease obligations	83	93
.932% senior notes due January 2027
Debt Instrument [Line Items]
Notes payable and lease obligations	400	450
1.075% senior notes due September 2029
Debt Instrument [Line Items]
Notes payable and lease obligations	222	250
.500% senior notes due December 2029
Debt Instrument [Line Items]
Notes payable and lease obligations	84	95
.550% senior notes due March 2030
Debt Instrument [Line Items]
Notes payable and lease obligations	88	99
1.159% senior notes due October 2030
Debt Instrument [Line Items]
Notes payable and lease obligations	195	220
.633% senior notes due April 2031
Debt Instrument [Line Items]
Notes payable and lease obligations	200	225
.843% senior notes due December 2031
Debt Instrument [Line Items]
Notes payable and lease obligations	62	70
.750% senior notes due March 2032
Debt Instrument [Line Items]
Notes payable and lease obligations	137	155
1.320% senior notes due December 2032
Debt Instrument [Line Items]
Notes payable and lease obligations	140	158
.844% senior notes due April 2033
Debt Instrument [Line Items]
Notes payable and lease obligations	80	90
1.488% senior notes due October 2033
Debt Instrument [Line Items]
Notes payable and lease obligations	101	114
.934% senior notes due December 2034
Debt Instrument [Line Items]
Notes payable and lease obligations	65	73
.830% senior notes due March 2035
Debt Instrument [Line Items]
Notes payable and lease obligations	70	79
1.039% senior notes due April 2036
Debt Instrument [Line Items]
Notes payable and lease obligations	66	75
1.594% senior notes due September 2037
Debt Instrument [Line Items]
Notes payable and lease obligations	42	49
1.750% senior notes due October 2038
Debt Instrument [Line Items]
Notes payable and lease obligations	59	66
1.122% senior notes due December 2039
Debt Instrument [Line Items]
Notes payable and lease obligations	42	47
1.264% senior notes due April 2041
Debt Instrument [Line Items]
Notes payable and lease obligations	66	75
2.108% subordinated notes due October 2047
Debt Instrument [Line Items]
Notes payable and lease obligations	397	448
.963% subordinated bonds due April 2049
Debt Instrument [Line Items]
Notes payable and lease obligations	200	226
1.560% senior notes due April 2051
Debt Instrument [Line Items]
Notes payable and lease obligations	132	149
2.144% senior notes due September 2052
Debt Instrument [Line Items]
Notes payable and lease obligations	79	90
Yen-denominated loan variable interest rate due August 2027
Debt Instrument [Line Items]
Notes payable and lease obligations	78	88
Yen-denominated loan variable interest rate due August 2029
Debt Instrument [Line Items]
Notes payable and lease obligations	169	190
Yen-denominated loan variable interest rate due August 2032
Debt Instrument [Line Items]
Notes payable and lease obligations	$ 466	$ 524

NOTES PAYABLE AND LEASE OBLIG_4

NOTES PAYABLE AND LEASE OBLIGATIONS - Summary of Notes Payable (Details 2) - JPY (¥) ¥ in Billions	Sep. 30, 2023	Dec. 31, 2022
1.125% senior sustainability notes due March 2026
Debt Instrument [Line Items]
Debt instrument, interest rate	1.125%	1.125%
2.875% senior notes due October 2026
Debt Instrument [Line Items]
Debt instrument, interest rate	2.875%	2.875%
3.60% senior notes due April 2030
Debt Instrument [Line Items]
Debt instrument, interest rate	3.60%	3.60%
6.90% senior notes due December 2039
Debt Instrument [Line Items]
Debt instrument, interest rate	6.90%	6.90%
6.45% senior notes due August 2040
Debt Instrument [Line Items]
Debt instrument, interest rate	6.45%	6.45%
4.00% senior notes due October 2046
Debt Instrument [Line Items]
Debt instrument, interest rate	4%	4%
4.750% senior notes due January 2049
Debt Instrument [Line Items]
Debt instrument, interest rate	4.75%	4.75%
.300% senior notes due September 2025
Debt Instrument [Line Items]
Debt instrument, interest rate	0.30%	0.30%
Debt instrument, principal amount	¥ 12.4	¥ 12.4
.932% senior notes due January 2027
Debt Instrument [Line Items]
Debt instrument, interest rate	0.932%	0.932%
Debt instrument, principal amount	¥ 60	¥ 60
1.075% senior notes due September 2029
Debt Instrument [Line Items]
Debt instrument, interest rate	1.075%	1.075%
Debt instrument, principal amount	¥ 33.4	¥ 33.4
.500% senior notes due December 2029
Debt Instrument [Line Items]
Debt instrument, interest rate	0.50%	0.50%
Debt instrument, principal amount	¥ 12.6	¥ 12.6
.550% senior notes due March 2030
Debt Instrument [Line Items]
Debt instrument, interest rate	0.55%	0.55%
Debt instrument, principal amount	¥ 13.3	¥ 13.3
1.159% senior notes due October 2030
Debt Instrument [Line Items]
Debt instrument, interest rate	1.159%	1.159%
Debt instrument, principal amount	¥ 29.3	¥ 29.3
.633% senior notes due April 2031
Debt Instrument [Line Items]
Debt instrument, interest rate	0.633%	0.633%
Debt instrument, principal amount	¥ 30	¥ 30
.843% senior notes due December 2031
Debt Instrument [Line Items]
Debt instrument, interest rate	0.843%	0.843%
Debt instrument, principal amount	¥ 9.3	¥ 9.3
.750% senior notes due March 2032
Debt Instrument [Line Items]
Debt instrument, interest rate	0.75%	0.75%
Debt instrument, principal amount	¥ 20.7	¥ 20.7
1.320% senior notes due December 2032
Debt Instrument [Line Items]
Debt instrument, interest rate	1.32%	1.32%
Debt instrument, principal amount	¥ 21.1	¥ 21.1
.844% senior notes due April 2033
Debt Instrument [Line Items]
Debt instrument, interest rate	0.844%	0.844%
Debt instrument, principal amount	¥ 12	¥ 12
1.488% senior notes due October 2033
Debt Instrument [Line Items]
Debt instrument, interest rate	1.488%	1.488%
Debt instrument, principal amount	¥ 15.2	¥ 15.2
.934% senior notes due December 2034
Debt Instrument [Line Items]
Debt instrument, interest rate	0.934%	0.934%
Debt instrument, principal amount	¥ 9.8	¥ 9.8
.830% senior notes due March 2035
Debt Instrument [Line Items]
Debt instrument, interest rate	0.83%	0.83%
Debt instrument, principal amount	¥ 10.6	¥ 10.6
1.039% senior notes due April 2036
Debt Instrument [Line Items]
Debt instrument, interest rate	1.039%	1.039%
Debt instrument, principal amount	¥ 10	¥ 10
1.594% senior notes due September 2037
Debt Instrument [Line Items]
Debt instrument, interest rate	1.594%	1.594%
Debt instrument, principal amount	¥ 6.5	¥ 6.5
1.750% senior notes due October 2038
Debt Instrument [Line Items]
Debt instrument, interest rate	1.75%	1.75%
Debt instrument, principal amount	¥ 8.9	¥ 8.9
1.122% senior notes due December 2039
Debt Instrument [Line Items]
Debt instrument, interest rate	1.122%	1.122%
Debt instrument, principal amount	¥ 6.3	¥ 6.3
1.264% senior notes due April 2041
Debt Instrument [Line Items]
Debt instrument, interest rate	1.264%	1.264%
Debt instrument, principal amount	¥ 10	¥ 10
2.108% subordinated notes due October 2047
Debt Instrument [Line Items]
Debt instrument, interest rate	2.108%	2.108%
Debt instrument, principal amount	¥ 60	¥ 60
.963% subordinated bonds due April 2049
Debt Instrument [Line Items]
Debt instrument, interest rate	0.963%	0.963%
Debt instrument, principal amount	¥ 30	¥ 30
1.560% senior notes due April 2051
Debt Instrument [Line Items]
Debt instrument, interest rate	1.56%	1.56%
Debt instrument, principal amount	¥ 20	¥ 20
2.144% senior notes due September 2052
Debt Instrument [Line Items]
Debt instrument, interest rate	2.144%	2.144%
Debt instrument, principal amount	¥ 12	¥ 12
Yen-denominated loan variable interest rate due August 2027
Debt Instrument [Line Items]
Debt instrument, interest rate	0.35%	0.33%
Debt instrument, principal amount	¥ 11.7	¥ 11.7
Yen-denominated loan variable interest rate due August 2029
Debt Instrument [Line Items]
Debt instrument, interest rate	0.45%	0.43%
Debt instrument, principal amount	¥ 25.3	¥ 25.3
Yen-denominated loan variable interest rate due August 2032
Debt Instrument [Line Items]
Debt instrument, interest rate	0.60%	0.58%
Debt instrument, principal amount	¥ 70	¥ 70

NOTES PAYABLE AND LEASE OBLIG_5

NOTES PAYABLE AND LEASE OBLIGATIONS - Summary of Lines of Credit (Details) - 9 months ended Sep. 30, 2023 ¥ in Millions, $ in Millions	USD ($)	JPY (¥)
$100 million line of credit
Line of Credit Facility [Line Items]
Line of credit facility term	364 days
Line of credit facility, maximum borrowing capacity	$ 100
Line of credit facility, amount outstanding	$ 0
Line of credit facility, interest rate description	The rate quoted by the bank and agreed upon at the time of borrowing
100.0 billion yen line of credit
Line of Credit Facility [Line Items]
Line of credit facility term	5 years
Line of credit facility, maximum borrowing capacity | ¥		¥ 100,000
Line of credit facility, amount outstanding | ¥		0
Line of credit facility, interest rate description	A rate per annum equal to (a) Tokyo Interbank Market Rate (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
$1 billion line of credit
Line of Credit Facility [Line Items]
Line of credit facility term	5 years
Line of credit facility, maximum borrowing capacity	$ 1,000
Line of credit facility, amount outstanding	$ 0
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
$50 million line of credit
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 50
Line of credit facility, amount outstanding	$ 0
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 SOFR for the interest period relevant to such borrowing or (b) the base rate determined by reference to the highest of (1) the lender's USD short-term commercial loan rate and (2) the federal funds rate plus 1/2 of 1%
$250 million line of credit
Line of Credit Facility [Line Items]
Line of credit facility term	364 days
Line of credit facility, maximum borrowing capacity	$ 250
Line of credit facility, amount outstanding	$ 0
Line of credit facility, interest rate description	Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 75 basis points per annum
50.0 billion yen line of credit (Tranche 1)
Line of Credit Facility [Line Items]
Line of credit facility term	364 days
Line of credit facility, maximum borrowing capacity | ¥		50,000
Line of credit facility, amount outstanding | ¥		0
Line of credit facility, interest rate description	Three-month yen TIBOR plus 45 basis points per annum
50.0 billion yen line of credit (Tranche 2)
Line of Credit Facility [Line Items]
Line of credit facility term	364 days
Line of credit facility, maximum borrowing capacity | ¥		50,000
Line of credit facility, amount outstanding | ¥		0
Line of credit facility, interest rate description	Three-month yen TIBOR plus 45 basis points per annum
$25 million line of credit
Line of Credit Facility [Line Items]
Line of credit facility term	364 days
Line of credit facility, maximum borrowing capacity	$ 25
Line of credit facility, amount outstanding	$ 0
Line of credit facility, interest rate description	Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 75 basis points per annum
$15 million line of credit
Line of Credit Facility [Line Items]
Line of credit facility term	364 days
Line of credit facility, maximum borrowing capacity	$ 15
Line of credit facility, amount outstanding	$ 0
Line of credit facility, interest rate description	Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 75 basis points per annum
$300 thousand line of credit
Line of Credit Facility [Line Items]
Line of credit facility term	364 days
Line of credit facility, maximum borrowing capacity	$ 0.3
Line of credit facility, amount outstanding	$ 0
Line of credit facility, interest rate description	Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 75 basis points per annum
900 million yen line of credit
Line of Credit Facility [Line Items]
Line of credit facility term	364 days
Line of credit facility, maximum borrowing capacity | ¥		900
Line of credit facility, amount outstanding | ¥		0
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
600 million yen line of credit
Line of Credit Facility [Line Items]
Line of credit facility term	364 days
Line of credit facility, maximum borrowing capacity | ¥		600
Line of credit facility, amount outstanding | ¥		¥ 0
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
$30 million line of credit
Line of Credit Facility [Line Items]
Line of credit facility term	364 days
Line of credit facility, maximum borrowing capacity	$ 30
Line of credit facility, amount outstanding	$ 0
Line of credit facility, interest rate description	Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 75 basis points per annum
$400 million line of credit (Aflac Incorporated as borrower)
Line of Credit Facility [Line Items]
Line of credit facility term	364 days
Line of credit facility, maximum borrowing capacity	$ 400
Line of credit facility, amount outstanding	$ 0
Line of credit facility, interest rate description	Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 97 basis points per annum for U.S. dollar denominated borrowings or three-month TIBOR plus 97 basis points per annum for Japanese yen denominated borrowings
$400 million line of credit (Aflac Re Bermuda Ltd. as borrower)
Line of Credit Facility [Line Items]
Line of credit facility term	364 days
Line of credit facility, maximum borrowing capacity	$ 400
Line of credit facility, amount outstanding	$ 0
Line of credit facility, interest rate description	Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 68 basis points per annum for U.S. dollar denominated borrowings or three-month TIBOR plus 68 basis points per annum for Japanese yen denominated borrowings
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 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 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

NOTES PAYABLE AND LEASE OBLIG_6

NOTES PAYABLE AND LEASE OBLIGATIONS - Additional Information (Details) $ in Millions	Sep. 30, 2023 USD ($)
Lines of credit
Debt Instrument [Line Items]
Debt instrument, debt default, amount	$ 0
Notes payable
Debt Instrument [Line Items]
Debt instrument, debt default, amount	$ 0

SHAREHOLDERS' EQUITY - Reconcil

SHAREHOLDERS' EQUITY - Reconciliation of Number of Shares of Common Stock (Detail) - shares shares in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Common Stock Issued [Roll Forward]
Balance, beginning of period	1,354,079	1,352,739
Exercise of stock options and issuance of restricted shares	1,233	1,230
Balance, end of period	1,355,312	1,353,969
Treasury Stock [Roll Forward]
Balance, beginning of period	738,823	700,607
Balance, end of period	768,415	730,101
Shares outstanding, end of period	586,897	623,868
Treasury Stock
Treasury Stock [Roll Forward]
Share repurchase program	30,199	30,249
Other purchases	360	354
Shares issued to AFL Stock Plan	(707)	(787)
Exercise of stock options	(81)	(108)
Other dispositions	(179)	(214)

SHAREHOLDERS' EQUITY - Anti-Dil

SHAREHOLDERS' EQUITY - Anti-Dilutive Share-Based Awards Excluded from Calculation of Diluted Earnings Per Share (Detail) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Stockholders' Equity Note [Abstract]
Anti-dilutive share-based awards	0	53	68	158

SHAREHOLDERS' EQUITY - Changes

SHAREHOLDERS' EQUITY - Changes in Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning of period	$ (7,338)	$ (6,980)	$ (6,429)	$ (8,411)
Other comprehensive income (loss) before reclassifications net of tax	1,609	(486)	764	1,089
Amounts reclassified from accumulated other comprehensive income (loss) net of tax	(31)	(39)	(95)	(183)
Other comprehensive income (loss), net of tax	1,578	(525)	669	906
Balance, end of period	(5,760)	(7,505)	(5,760)	(7,505)
Unrealized Foreign Currency Translation Gains (Losses)
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning of period	(4,249)	(3,218)	(3,564)	(1,985)
Other comprehensive income (loss) before reclassifications net of tax	(235)	(1,156)	(920)	(2,389)
Amounts reclassified from accumulated other comprehensive income (loss) net of tax	0	0	0	0
Other comprehensive income (loss), net of tax	(235)	(1,156)	(920)	(2,389)
Balance, end of period	(4,484)	(4,374)	(4,484)	(4,374)
Unrealized Gains (Losses) on Fixed Maturity Securities
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning of period	1,978	2,930	(702)	9,602
Other comprehensive income (loss) before reclassifications net of tax	(2,349)	(1,753)	398	(8,272)
Amounts reclassified from accumulated other comprehensive income (loss) net of tax	(32)	(46)	(99)	(199)
Other comprehensive income (loss), net of tax	(2,381)	(1,799)	299	(8,471)
Balance, end of period	(403)	1,131	(403)	1,131
Unrealized Gains (Losses) on Derivatives
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning of period	(25)	(29)	(27)	(30)
Other comprehensive income (loss) before reclassifications net of tax	0	(1)	0	(1)
Amounts reclassified from accumulated other comprehensive income (loss) net of tax	1	1	3	2
Other comprehensive income (loss), net of tax	1	0	3	1
Balance, end of period	(24)	(29)	(24)	(29)
Effect of Changes in Discount Rate Assumptions
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning of period	(5,059)	(6,503)	(2,100)	(15,832)
Other comprehensive income (loss) before reclassifications net of tax	4,193	2,428	1,234	11,757
Amounts reclassified from accumulated other comprehensive income (loss) net of tax	0	0	0	0
Other comprehensive income (loss), net of tax	4,193	2,428	1,234	11,757
Balance, end of period	(866)	(4,075)	(866)	(4,075)
Pension Liability Adjustment
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning of period	17	(160)	(36)	(166)
Other comprehensive income (loss) before reclassifications net of tax	0	(4)	52	(6)
Amounts reclassified from accumulated other comprehensive income (loss) net of tax	0	6	1	14
Other comprehensive income (loss), net of tax	0	2	53	8
Balance, end of period	$ 17	$ (158)	$ 17	$ (158)

SHAREHOLDERS' EQUITY - Reclassi

SHAREHOLDERS' EQUITY - Reclassifications Out of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions		3 Months Ended						9 Months Ended
		Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net investment gains (losses)		$ 423			$ 199			$ 1,101	$ 885
Net investment income		1,004			920			2,946	2,760
Acquisition and operating expenses		(1,285)			(1,299)			(3,843)	(4,028)
Income tax (expense) or benefit		(236)			452			(581)	(109)
Net of tax		$ 1,569	$ 1,634	$ 1,188	$ 1,781	$ 1,394	$ 1,047	$ 4,391	$ 4,222
U.S. federal statutory income tax rate		21%			21%			21%	21%
Reclassification Out Of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net of tax		$ 31			$ 39			$ 95	$ 183
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)		41			58			125	252
Income tax (expense) or benefit	[1]	(9)			(12)			(26)	(53)
Net of tax		32			46			99	199
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)		(1)			(1)			(3)	(3)
Net investment income								(1)
Earnings before income taxes								(4)
Income tax (expense) or benefit	[1]	0			0			1	1
Net of tax		(1)			(1)			(3)	(2)
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]	0			(7)			(1)	(18)
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			0	0
Reclassification Out Of Accumulated Other Comprehensive Income | Pension Liability Adjustment
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax (expense) or benefit	[1]	0			1			0	4
Net of tax		$ 0			$ (6)			$ (1)	$ (14)
[1]Based on 21% tax rate[2]These accumulated other comprehensive income components are included in the computation of net periodic benefit cost (see Note 12 for additional details).

SHAREHOLDERS' EQUITY - Addition

SHAREHOLDERS' EQUITY - Additional Information (Detail) - USD ($) shares in Millions, $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Stockholders Equity Note [Line Items]
Common stock, share repurchase, dollar amount	$ 707	$ 708	$ 732	$ 651	$ 650	$ 523
Remaining common stock available for purchase under share repurchase authorizations	86.4						86.4
Share Repurchase Program
Stockholders Equity Note [Line Items]
Stock acquired under share repurchase program, shares							30.2	30.2
Common stock, share repurchase, dollar amount							$ 2,100	$ 1,800

SHARE-BASED COMPENSATION - Stoc

SHARE-BASED COMPENSATION - Stock Options Outstanding and Exercisable (Detail) $ / shares in Units, shares in Thousands, $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($) $ / shares shares
Share-Based Payment Arrangement [Abstract]
Options Outstanding - Stock Option Shares | shares	1,131
Options Outstanding - Weighted-Average Remaining Term (Yrs)	2 years 4 months 24 days
Options Outstanding - Aggregate Intrinsic Value | $	$ 50
Options Outstanding - Weighted-Average Exercise Price Per Share | $ / shares	$ 32.88
Options Exercisable - Stock Option Shares | shares	1,131
Options Exercisable - Weighted-Average Remaining Term (Yrs.)	2 years 4 months 24 days
Options Exercisable - Aggregate Intrinsic Value | $	$ 50
Options Exercisable - Weighted-Average Exercise Price Per Share | $ / shares	$ 32.88

SHARE-BASED COMPENSATION - Rest

SHARE-BASED COMPENSATION - Restricted Stock Activity (Details) - Restricted Stock shares in Thousands	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Shares
Beginning Balance | shares	2,414
Granted | shares	1,145
Canceled | shares	(82)
Vested | shares	(1,151)
Ending Balance | shares	2,326
Weighted-Average Grant-Date Fair Value Per Share
Beginning Balance | $ / shares	$ 56.21
Granted | $ / shares	70.58
Cancelled | $ / shares	60.10
Vested | $ / shares	52.80
Ending Balance | $ / shares	$ 62.77

SHARE-BASED COMPENSATION - Addi

SHARE-BASED COMPENSATION - Additional Information (Detail) - USD ($) shares in Thousands, $ in Millions	1 Months Ended	9 Months Ended
	Feb. 28, 2023	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from stock options exercised		$ 13	$ 13
Tax benefit from exercise of stock options		$ 20	$ 18
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		34,700
Long-term incentive plan awards, term (in years)		10 years
Long-term incentive plan awards, vesting period		3 years
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation cost not yet recognized, restricted stock awards		$ 47
Share-based compensation arrangement by share-based payment award, equity instruments other than options, nonvested, number, shares		2,326		2,414
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition		1 year 7 months 6 days
Restricted stock awards, grants in period		1,145
Performance based Vesting Condition | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation cost not yet recognized, restricted stock awards		$ 25
Share-based compensation arrangement by share-based payment award, equity instruments other than options, nonvested, number, shares		1,800
Restricted stock awards, grants in period	454

BENEFIT PLANS - Net Periodic (B

BENEFIT PLANS - Net Periodic (Benefit) Cost Included in Acquisition and Operating Expenses (Detail) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Other Postretirement Benefits Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	$ 0		$ 0	$ 0	$ 0
Interest cost	0		1	1	1
Expected return on plan assets	0		0	0	0
Amortization of net actuarial loss	0		1	1	2
Curtailment (gain) loss	0		0	0	0
Net periodic (benefit) cost	0		2	2	3
Japan | Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	4		5	11	15
Interest cost	2		1	6	4
Expected return on plan assets	(2)		(2)	(5)	(6)
Amortization of net actuarial loss	0		0	0	0
Curtailment (gain) loss	0		0	0	0
Net periodic (benefit) cost	4		4	12	13
U.S. | Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	0		6	7	19
Interest cost	10		9	31	26
Expected return on plan assets	(8)		(11)	(26)	(32)
Amortization of net actuarial loss	0		6	0	16
Curtailment (gain) loss	0	$ (49)	0	(49)	0
Net periodic (benefit) cost	$ 2		$ 10	$ (37)	$ 29

BENEFIT PLANS - Additional Info

BENEFIT PLANS - Additional Information (Detail) - USD ($) $ in Millions		3 Months Ended			9 Months Ended
	Jan. 01, 2014	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
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		$ 2		$ 5	$ (41)	$ 11
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
Japan | Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Curtailment (gain) loss		0		0	0	0
Employer contributions					19
U.S. | Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Curtailment (gain) loss		$ 0	$ (49)	$ 0	(49)	$ 0
Employer contributions					$ 0

COMMITMENTS AND CONTINGENT LI_2

COMMITMENTS AND CONTINGENT LIABILITIES - Additional Information (Details) - Management Consulting and Technology Services Company Application Maintenance and Development Services - Aflac Japan $ in Millions, ¥ in Billions	9 Months Ended
	Sep. 30, 2023 JPY (¥)	Sep. 30, 2023 USD ($)
Commitments and Contingencies Disclosure [Line Items]
Outsourcing agreement, remaining term	5 years	5 years
Outsourcing agreement, aggregate remaining cost	¥ 19.2	$ 128

SUBSEQUENT EVENTS - Additional

SUBSEQUENT EVENTS - Additional Information (Details) - Aflac Life Insurance Japan (ALIJ) - Aflac Re Bermuda ¥ in Billions, $ in Billions	1 Months Ended	3 Months Ended
	Jan. 31, 2023 USD ($)	Dec. 31, 2023 JPY (¥)
Subsequent Event [Line Items]
Ceded reinsurance, percentage	28%
Ceded reinsurance, amount of reserves transferred | $	$ 2.1
Subsequent Event
Subsequent Event [Line Items]
Ceded reinsurance, percentage		30%
Ceded reinsurance, amount of reserves transferred | ¥		¥ 286