AFL · 10-Q · 2026Q2 · Full report

Shareholders Equity Position

AFLAC INC · 2026-08-07 · Importance 49 · Surprise 32 · No source text

Shareholders’ equity increased to $30.3 billion, or $60.35 per share, at June 30, 2026, from $29.5 billion, or $56.85 per share, at December 31, 2025. The cumulative effect of discount-rate changes on insurance reserves increased to $10.4 billion from $8.0 billion. Net unrealized losses on investment securities and derivatives widened to $2.8 billion from $1.8 billion, while unrealized foreign-currency translation losses increased to $5.0 billion from $4.8 billion. Adjusted book value excluding foreign-currency remeasurement decreased to $20.7 billion, or $41.22 per share, from $22.1 billion, or $42.66 per share.

Key facts

• Shareholders’ equity at June 30, 2026 included a cumulative increase of $10.4 billion from the effect of changes in discount rate assumptions on insurance reserves. source
• Adjusted book value excluding foreign currency remeasurement was $20.7 billion, or $41.22 per share, at June 30, 2026. source
• Shareholders’ equity excluding accumulated other comprehensive income (adjusted book value) was $27.6 billion, or $55.01 per share, at June 30, 2026. source
• Shareholders’ equity was $30.3 billion, or $60.35 per share, at June 30, 2026. source
• U.S. GAAP book value was $30,312 million at June 30 and $29,490 million at December 31 (amounts shown in reconciliation table). source
• Effect of changes in discount rate assumptions was $10,415 million at June 30 and $8,035 million at December 31 (amounts shown in reconciliation table). source
• Total investments and cash as of June 30, 2026 were $75,195 million for Aflac Japan, $17,685 million for Aflac U.S., $10,123 million for Corporate and other, totaling $103,003 million. source
• Cash and cash equivalents as of June 30, 2026 were $1,965 million for Aflac Japan, $1,105 million for Aflac U.S., $3,050 million for Corporate and other, totaling $6,120 million. source

Impact estimates