Aflac 2006 Annual Report Download - page 26

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22
For the Year (In millions, except for share and per-share amounts) 2006 2005 2004 2003
Revenues:
Premiums, principally supplemental health insurance $ 12,314 $ 11,990 $ 11,302 $ 9,921
Net investment income 2,171 2,071 1,957 1,787
Realized investment gains (losses) 79 262 (12) (301)
Gain on sale of broadcast business ––––
Other income 52 40 34 40
Total revenues 14,616 14,363 13,281 11,447
Benefits and expenses:
Benefits and claims 9,016 8,890 8,482 7,529
Expenses 3,336 3,247 3,026 2,720
Total benefits and expenses 12,352 12,137 11,508 10,249
Pretax earnings 2,264 2,226 1,773 1,198
Income taxes 781 743 507 430
Net earnings $ 1,483 $ 1,483 $ 1,266 $ 768
Per-Share and Share Amounts
Net earnings (basic) $ 2.99 $ 2.96 $ 2.49 $ 1.50
Net earnings (diluted) 2.95 2.92 2.45 1.47
Items impacting net earnings per diluted share, net of tax:
Realized investment gains (losses) $ .10 $ .33 $ (.01) $ (.37)
Impact from SFAS 133 –(.02) (.03) –
Nonrecurring items –.07 .26 –
Foreign currency translation* (.08) (.02) .08 .06
Cash dividends paid $ .55 $ .44 $ .38 $ .30
Shareholders’ equity 16.93 15.89 15.04 13.04
Common shares used to calculate basic EPS (In thousands) 495,614 500,939 507,333 513,220
Common shares used to calculate diluted EPS (In thousands) 501,827 507,704 516,421 522,138
At Year-end
Assets:
Investments and cash $ 51,972 $ 48,989 $ 51,955 $ 44,050
Other 7,833 7,372 7,371 6,914
Total assets $ 59,805 $ 56,361 $ 59,326 $ 50,964
Liabilities and shareholders’ equity:
Policy liabilities $ 45,440 $ 42,329 $ 43,556 $ 39,240
Notes payable 1,426 1,395 1,429 1,409
Income taxes 2,462 2,577 2,445 2,187
Other liabilities 2,136 2,133 4,320 1,480
Shareholders’ equity 8,341 7,927 7,576 6,648
Total liabilities and shareholders’ equity $ 59,805 $ 56,361 $ 59,326 $ 50,964
Supplemental Data
Stock price range: High $ 49.40 $ 49.65 $ 42.60 $ 36.91
Low 41.63 35.50 33.85 28.00
Close 46.00 46.42 39.84 36.18
Yen/dollar exchange rate at year-end ¥ 119.11 ¥ 118.07 ¥ 104.21 ¥ 107.13
Weighted-average yen/dollar exchange rate for the year 116.31 109.88 108.26 115.95
*Translation effect on Aflac Japan segment and Parent Company yen-denominated interest expense
Amounts in 2001 through 2004 have been adjusted for adoption of SFAS 123R on January 1, 2005.
Selected Financial Data