Aflac 2007 Annual Report Download - page 77

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73
Annual Report for 2007
Management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is
defined in Exchange Act Rules 13a-15(f). Under the supervision and with the participation of our management, including our
principal executive officer and principal financial officer, we conducted an evaluation of the effectiveness of our internal control
over financial reporting based on the framework in Internal Control - Integrated Framework issued by the Committee of Sponsoring
Organizations of the Treadway Commission (COSO). Based on our evaluation under this framework, management has
concluded that our internal control over financial reporting was effective as of December 31, 2007.
KPMG LLP, an independent registered public accounting firm, has issued an attestation report on the effectiveness of internal
control over financial reporting as of December 31, 2007, which is included herein.
Management’s Annual Report on Internal Control Over Financial Reporting
Unaudited Consolidated Quarterly Financial Data
In management’s opinion, this quarterly financial information fairly presents the results of operations for such periods and is
prepared on a basis consistent with our annual audited financial statements.
(In millions, except
for per-share amounts) March 31, 2007 June 30, 2007 September 30, 2007 December 31, 2007
Premium income $ 3,156 $3,162 $3,260 $3,395
Net investment income 566 572 592 604
Realized investment gains (losses) 13 15 1 (1)
Other income 16 15 8 20
Total revenues 3,751 3,764 3,861 4,018
Total benefits and expenses 3,115 3,129 3,219 3,433
Earnings before income taxes 636 635 642 585
Total income tax 220 220 222 203
Net earnings $ 416 $ 415 $ 420 $ 382
Net earnings per basic share $ .85 $ .85 $ .86 $ .79
Net earnings per diluted share .84 .84 .85 .78
March 31, 2006 June 30, 2006 September 30, 2006 December 31, 2006
Premium income $ 3,005 $ 3,093 $ 3,102 $ 3,114
Net investment income 524 542 548 557
Realized investment gains 14 50 11 5
Other income 16 12 11 11
Total revenues 3,559 3,697 3,672 3,687
Total benefits and expenses 2,984 3,073 3,115 3,180
Earnings before income taxes 575 624 557 507
Total income tax 200 216 190 175
Net earnings $ 375 $ 408 $ 367 $ 332
Net earnings per basic share $ .75 $ .82 $ .74 $ .67
Net earnings per diluted share .74 .81 .73 .67
Quarterly amounts may not agree in total to the corresponding annual amounts due to rounding.