Aflac 2007 Annual Report Download - page 51

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Consolidated Balance Sheets Aflac Incorporated and Subsidiaries
(In millions, except for share and per-share amounts) December 31, 2007 2006
Assets:
Investments and cash:
Securities available for sale, at fair value:
Fixed maturities (amortized cost $29,399 in 2007 and $27,099 in 2006) $ 30,511 $ 28,805
Perpetual debentures (amortized cost $4,272 in 2007 and $4,341 in 2006) 4,095 4,408
Equity securities (cost $16 in 2007 and 2006) 22 25
Securities held to maturity, at amortized cost:
Fixed maturities (fair value $16,191 in 2007 and $13,369 in 2006) 16,819 13,483
Perpetual debentures (fair value $3,934 in 2007 and $4,024 in 2006) 3,985 3,990
Other investments 61 58
Cash and cash equivalents 1,563 1,203
Total investments and cash 57,056 51,972
Receivables, primarily premiums 732 535
Accrued investment income 561 538
Deferred policy acquisition costs 6,654 6,025
Property and equipment, at cost less accumulated depreciation 496 458
Other 306 277
Total assets $ 65,805 $ 59,805
Liabilities and shareholders’ equity:
Liabilities:
Policy liabilities:
Future policy benefits $ 45,675 $ 40,841
Unpaid policy claims 2,455 2,390
Unearned premiums 693 645
Other policyholders’ funds 1,853 1,564
Total policy liabilities 50,676 45,440
Notes payable 1,465 1,426
Income taxes 2,531 2,462
Payables for return of cash collateral on loaned securities 808 807
Other 1,530 1,329
Commitments and contingent liabilities (Note 13)
Total liabilities 57,010 51,464
Shareholders’ equity:
Common stock of $.10 par value. In thousands: authorized 1,000,000 shares;
issued 658,604 shares in 2007 and 655,715 shares in 2006 66 66
Additional paid-in capital 1,054 895
Retained earnings 10,637 9,304
Accumulated other comprehensive income:
Unrealized foreign currency translation gains 129 54
Unrealized gains on investment securities 874 1,450
Pension liability adjustment (69) (78)
Treasury stock, at average cost (3,896) (3,350)
Total shareholders’ equity 8,795 8,341
Total liabilities and shareholders’ equity $ 65,805 $ 59,805
See the accompanying Notes to the Consolidated Financial Statements.
47
Annual Report for 2007