Aflac 2011 Annual Report Download - page 9

AFLAC INCORPORATED 2011 YEAR IN REVIEW 7
02 03 04 05 06 07 08 09 10 11
Net Earnings Per Diluted Share
Operating Earnings Per Diluted Share
1.51
1.78
2.15
2.56
2.93
3.29
3.76
4.59
$5.97
5.34
*
EARNINGS PER DILUTED SHARE
Net and operating earnings per diluted share
benefited from record operating results. In 2011,
we achieved our primary financial target, growth
in operating earnings per diluted share, excluding
the impact of the yen, for the 22nd consecutive
year. Operating earnings is an internal financial
measure we use to assess management’s
performance. Aflac defines operating earnings as
the profits derived from operations before realized
investment gains and losses from securities
transactions, impairments, and derivative and
hedging activities, as well as nonrecurring items.
*Excludes impact of the yen
to examine our business from an increasingly international
perspective. For example, take the financial crisis in Europe.
We do have European investment holdings, but even if we
didn’t, we would have still been affected because the world
is increasingly interconnected. Also, it’s stunning how fast
things are changing, between the duration of the life of a
particular product to technology. Our ability to exchange
information faster has changed everything we do, and
we’ve moved from a totally paper company when I came in,
to an almost paperless company.
Q
As CEO, what has been your biggest
accomplishment?
A
My biggest accomplishment has been being part of
something bigger than me, through Aflac: helping
people in their time of need. First and foremost, Aflac is in
the business of paying claims to our policyholders. Each
year, we pay billions of dollars in claims to policyholders
when they need it most, and at the same time, provide
long-term value to shareholders. The opportunity we
provide for our employees and sales distribution system to
make a good living is very satisfying. From a philanthropic
standpoint, Aflac has been able to help so many children
and their families through the Aflac Cancer Center and
Blood Disorders Service of Children’s Healthcare of Atlanta
and Aflac Japan’s Parents House. So the chance to make the
world a better place is truly the best part of what I do.
Q
Having achieved long-term success, how do you
take Aflac’s success to the next level?
A
First, never get complacent; I want to keep reaching
in every category. We will also continue to focus on
being more efficient. Keeping your operating expense
ratio very low allows you to give the best return to
customers, which should ultimately drive profits
for you, our shareholders.
Q
What are a few of the things that being CEO has
taught you?
A
Patience. Sometimes things don’t happen as fast as
one would like, but as CEO it’s important that I remain
focused and in tune with what’s going on, and continue
to maintain a level of patience and perseverance in the
process.