Aflac 2015 Annual Report Download - page 36

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34
For the Year (In millions, except for share and per-share amounts) 2015 2014 2013 2012
Revenues:
Net premiums, principally supplemental health insurance $ 17,570 $ 19,072 $ 20,135 $ 22,148
Net investment income 3,135 3,319 3,293 3,473
Realized investment gains (losses) 140 215 399 (349)
Other income 27 122 112 92
Total revenues 20,872 22,728 23,939 25,364
Benefits and expenses:
Benefits and claims, net 11,746 12,937 13,813 15,330
Expenses 5,264 5,300 5,310 5,732
Total benefits and expenses 17,010 18,237 19,123 21,062
Pretax earnings 3,862 4,491 4,816 4,302
Income taxes 1,329 1,540 1,658 1,436
Net earnings $ 2,533 $ 2,951 $ 3,158 $ 2,866
Share and Per-Share Amounts
Net earnings (basic) $ 5.88 $ 6.54 $ 6.80 $ 6.14
Net earnings (diluted) 5.85 6.50 6.76 6.11
Items impacting net earnings, net of tax:
Realized investment gains (losses):
Securities transactions and impairments $ .23 $ .26 $ .09 $ (.69)
Impact of derivative and hedging activities:
Hedge costs related to foreign currency investments (.20) (.05) (.04) (.01)
Other derivative and hedging activities* .06 .03 .49 .22
Other and non-operating income (loss) (.40) .10 .04 (.01)
Cash dividends paid $ 1.58 $ 1.50 $ 1.42 $ 1.34
Shareholders’ equity 41.73 41.47 31.82 34.16
Weighted-average common shares used to calculate basic EPS 430,654 451,204 464,502 466,868
(In thousands)
Weighted-average common shares used to calculate diluted EPS 433,172 454,000 467,408 469,287
(In thousands)
At Year-end
Assets:
Investments and cash $ 105,897 $ 107,341 $ 108,459 $ 118,219
Other 12,399 12,426 12,848 12,875
Total assets $ 118,296 $ 119,767 $ 121,307 $ 131,094
Liabilities and shareholders’ equity:
Policy liabilities $ 87,631 $ 83,933 $ 89,402 $ 97,720
Income taxes 4,340 5,293 3,718 3,858
Notes payable 5,011 5,282 4,897 4,352
Other liabilities 3,606 6,912 8,670 9,186
Shareholders’ equity 17,708 18,347 14,620 15,978
Total liabilities and shareholders’ equity $ 118,296 $ 119,767 $ 121,307 $ 131,094
Supplemental Data
Stock price range: High $ 66.53 $ 66.69 $ 67.62 $ 54.93
Low 51.41 54.99 48.17 38.14
Close 59.90 61.09 66.80 53.12
Yen/dollar exchange rate at year-end (yen) ¥ 120.61 ¥ 120.55 ¥ 105.39 ¥ 86.58
Weighted-average yen/dollar exchange rate (yen) 120.99 105.46 97.54 79.81
*Includes impact from ASC 815 for all years presented prior to 2011
Amounts in 2010 and 2011 have been adjusted for retrospective adoption of revised accounting guidance related to deferral of policy acquisition costs effective January 1, 2012.
SELECTED FINANCIAL DATA