AFL · 8-K · 20260806PR054333
Liquidity and Cash Position
AFLAC INC · 2026-08-06 · Importance 47 · Surprise 22 · From source text
Total investments and cash decreased 7.8% year over year to $103.003 billion at June 30, 2026 from $111.769 billion. Total assets decreased 7.0% to $115.961 billion, while total liabilities and shareholders’ equity also decreased 7.0% from $124.736 billion. Policy liabilities declined 18.4% to $64.348 billion, and notes payable and lease obligations decreased 2.3% to $8.729 billion. Shareholders’ equity increased 11.4% to $30.312 billion, or $60.35 per share, from $27.200 billion, or $50.86 per share.
Key facts
- Shareholders’ equity at the end of the second quarter included a cumulative increase of $10.4 billion for the effect of the change in discount rate assumptions on insurance reserves, compared with a corresponding cumulative increase of $5.6 billion at June 30, 2025. source
- Shareholders’ equity was $30.3 billion, or $60.35 per share, at June 30, 2026, compared with $27.2 billion, or $50.86 per share, at June 30, 2025. source
- Policy liabilities decreased 18.4% to $64,348 million at June 30, 2026 from $78,904 million at June 30, 2025. source
- Total investments and cash at June 30, 2026 were $103,003 million, a 7.8% decrease from $111,769 million at June 30, 2025. source
- Total assets at June 30, 2026 were $115,961 million, a 7.0% decrease from $124,736 million at June 30, 2025. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| liability | positive | realized | +12.6% | Policy liabilities decreased 18.4% to $64,348 million at June 30, 2026 from $78,904 million at June 30, 2025. |
| liability | positive | realized | +9.0% | Shareholders’ equity at the end of the second quarter included a cumulative increase of $10.4 billion for the effect of the change in… |
| assets | negative | realized | -7.6% | Total assets at June 30, 2026 were $115,961 million, a 7.0% decrease from $124,736 million at June 30, 2025. |