Aflac 2006 Annual Report Download - page 50

Download and view the complete annual report

Please find page 50 of the 2006 Aflac annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 82

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82

46
Consolidated Balance Sheets Aflac Incorporated and Subsidiaries
(In millions, except for share and per-share amounts) December 31, 2006 2005
Assets:
Investments and cash:
Securities available for sale, at fair value:
Fixed maturities (amortized cost $27,099 in 2006 and $25,860 in 2005) $ 28,805 $ 28,142
Perpetual debentures (amortized cost $4,341 in 2006 and $4,255 in 2005) 4,408 4,370
Equity securities (cost $16 in 2006 and $30 in 2005) 25 84
Securities held to maturity, at amortized cost:
Fixed maturities (fair value $13,369 in 2006 and $10,839 in 2005) 13,483 10,867
Perpetual debentures (fair value $4,024 in 2006 and $4,252 in 2005) 3,990 4,172
Other investments 58 57
Cash and cash equivalents 1,203 1,297
Total investments and cash 51,972 48,989
Receivables, primarily premiums 535 479
Receivables for security transactions –105
Accrued investment income 538 484
Deferred policy acquisition costs 6,025 5,590
Property and equipment, at cost less accumulated depreciation 458 448
Other 277 266
Total assets $ 59,805 $ 56,361
Liabilities and shareholders’ equity:
Liabilities:
Policy liabilities:
Future policy benefits $ 40,841 $ 37,853
Unpaid policy claims 2,390 2,504
Unearned premiums 645 594
Other policyholders’ funds 1,564 1,378
Total policy liabilities 45,440 42,329
Notes payable 1,426 1,395
Income taxes 2,462 2,577
Payables for return of cash collateral on loaned securities 807 622
Other 1,329 1,511
Commitments and contingent liabilities (Note 13)
Total liabilities 51,464 48,434
Shareholders’ equity:
Common stock of $.10 par value. In thousands: authorized 1,000,000 shares;
issued 655,715 shares in 2006 and 654,522 shares in 2005 66 65
Additional paid-in capital 895 791
Retained earnings 9,304 8,048
Accumulated other comprehensive income:
Unrealized foreign currency translation gains 54 77
Unrealized gains on investment securities 1,450 1,917
Pension liability adjustment (78) (37)
Treasury stock, at average cost (3,350) (2,934)
Total shareholders’ equity 8,341 7,927
Total liabilities and shareholders’ equity $ 59,805 $ 56,361
See the accompanying Notes to the Consolidated Financial Statements.