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NOTES PAYABLE AND LEASE OBLIGATIONS (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments
A summary of notes payable and lease obligations as of December 31 follows:
(In millions)20242023
1.125% senior sustainability notes due March 2026
$399 $398 
2.875% senior notes due October 2026
299 299 
3.60% senior notes due April 2030
994 993 
6.90% senior notes due December 2039
221 221 
6.45% senior notes due August 2040
255 254 
4.00% senior notes due October 2046
394 394 
4.750% senior notes due January 2049
542 542 
Yen-denominated senior notes and subordinated debentures:
.300% senior notes due September 2025 (principal amount ¥12.4 billion)
79 87 
.932% senior notes due January 2027 (principal amount ¥60.0 billion)
378 422 
1.048% senior notes due March 2029 (principal amount ¥13.0 billion)
81 0 
1.075% senior notes due September 2029 (principal amount ¥33.4 billion)
211 234 
.500% senior notes due December 2029 (principal amount ¥12.6 billion)
79 88 
.550% senior notes due March 2030 (principal amount ¥13.3 billion)
84 93 
1.159% senior notes due October 2030 (principal amount ¥29.3 billion)
184 206 
1.412% senior notes due March 2031 (principal amount ¥27.9 billion)
176 0 
.633% senior notes due April 2031 (principal amount ¥30.0 billion)
189 211 
.843% senior notes due December 2031 (principal amount ¥9.3 billion)
58 65 
.750% senior notes due March 2032 (principal amount ¥20.7 billion)
130 145 
1.320% senior notes due December 2032 (principal amount ¥21.1 billion)
133 148 
.844% senior notes due April 2033 (principal amount ¥12.0 billion)
76 84 
1.488% senior notes due October 2033 (principal amount ¥15.2 billion)
95 106 
1.682% senior notes due March 2034 (principal amount ¥7.7 billion)
48 0 
1.600% senior notes due March 2034 (principal amount ¥18.3 billion)
115 0 
.934% senior notes due December 2034 (principal amount ¥9.8 billion)
62 69 
.830% senior notes due March 2035 (principal amount ¥10.6 billion)
66 74 
1.740% senior notes due March 2036 (principal amount ¥15.0 billion)
94 0 
1.039% senior notes due April 2036 (principal amount ¥10.0 billion)
63 70 
1.594% senior notes due September 2037 (principal amount ¥6.5 billion)
41 45 
1.750% senior notes due October 2038 (principal amount ¥8.9 billion)
56 62 
1.920% senior notes due March 2039 (principal amount ¥16.5 billion)
103 0 
1.122% senior notes due December 2039 (principal amount ¥6.3 billion)
39 44 
1.264% senior notes due April 2041 (principal amount ¥10.0 billion)
63 70 
2.160% senior notes due March 2044 (principal amount ¥5.7 billion)
35 0 
2.108% subordinated debentures due October 2047 (principal amount ¥60.0 billion)
375 419 
.963% subordinated bonds paid April 2024 (principal amount ¥30.0 billion)
0 211 
1.560% senior notes due April 2051 (principal amount ¥20.0 billion)
125 140 
2.144% senior notes due September 2052 (principal amount ¥12.0 billion)
75 84 
1.958% subordinated bonds due December 2053 (principal amount ¥30.0 billion)
188 210 
2.400% senior notes due March 2054 (principal amount ¥19.5 billion)
122 0 
Yen-denominated loans:
Variable interest rate loan due August 2027 (.84% in 2024 and .35% in 2023,
  principal amount ¥11.7 billion)
74 82 
Variable interest rate loan due August 2029 (.94% in 2024 and .45% in 2023,
  principal amount ¥25.3 billion)
160 178 
Variable interest rate loan due August 2032 (1.09% in 2024 and .60% in 2023,
  principal amount ¥70.0 billion)
441 492 
Finance lease obligations payable through 20305 6 
Operating lease obligations payable through 204991 118 
Total notes payable and lease obligations$7,498 $7,364 
Amounts in the table above are reported net of debt issuance costs and issuance premiums or discounts, if applicable, that are being amortized over the life of the notes.
Schedule of Maturities of Long Term Debt
The aggregate contractual maturities of notes payable during each of the years after December 31, 2024, are as follows:
(In millions)Total
Notes
Payable
2025$79 
2026700 
2027453 
20280 
2029533 
Thereafter5,690 
Total$7,455 
Schedule of Line of Credit Facilities
A summary of the Company's lines of credit as of December 31, 2024 follows:
Borrower(s)TypeTermExpiration DateCapacityAmount OutstandingInterest Rate on Borrowed AmountMaturity PeriodCommitment FeeBusiness Purpose
Aflac Incorporated
and Aflac		uncommitted bilateral364 daysDecember 5,
2025
$100 million
$0 million
The rate quoted by the bank and agreed upon at the time of borrowing
Up to 3 months
NoneGeneral corporate purposes
Aflac Incorporatedunsecured revolving5 yearsMay 9,
2027, or the date commitments are terminated pursuant to an event of default
¥100.0 billion
¥0.0 billion
A rate per annum equal to (a) Tokyo Interbank Market Rate (TIBOR) plus, the alternative applicable TIBOR margin during the availability period from the closing date to the commitment termination date or (b) the TIBOR rate offered by the agent to major banks in yen for the applicable period plus, the applicable alternative TIBOR margin during the term out periodNo later than
May 10, 2027
.28% to .45%, depending on the Parent Company's debt ratings as of the date of determination
General corporate purposes, including a capital contingency plan for the operations of the Parent Company
Aflac Incorporated
and Aflac		unsecured revolving5 yearsNovember 15, 2027, or the date commitments are terminated pursuant to an event of default
$1.0 billion
$0.0 billion
A rate per annum equal to, at the Company's option, either, (a) Secured Overnight Financing Rate (SOFR) for U.S. dollar-denominated borrowings or TIBOR for Japanese yen-denominated borrowings, in either case adjusted for certain costs, or (b) a base rate determined by reference to the highest of (1) the federal funds rate plus 1/2 of 1%, (2) the rate of interest for such day announced by the agent as its prime rate, or (3) SOFR for an interest period of one month plus 1.00%, in each case plus an applicable marginNo later than November 15, 2027
.08% to
.20%, depending on the Parent Company's debt ratings as of the date of determination
General corporate purposes, including a capital contingency plan for the operations of the Parent Company
Aflac Incorporated
and Aflac		uncommitted bilateralNone specifiedNone specified
$50 million
$0 million
A rate per annum equal to, at the Parent Company's option, either (a) a rate determined by reference to SOFR for the interest period relevant to such borrowing or (b) the base rate determined by reference to the highest of (1) the lender's USD short-term commercial loan rate and (2) the federal funds rate plus 1/2 of 1%
Up to 3 months
NoneGeneral corporate purposes
Aflac(1)
uncommitted revolving364 daysDecember 1, 2025
$250 million
$0 million
Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 75 basis points per annumNo later than December 2, 2025NoneGeneral corporate purposes
Aflac Incorporated(1)
(Tranche 1)
uncommitted revolving364 daysNovember 25, 2025
¥50.0 billion
¥0.0 billion
Three-month yen TIBOR plus 75 basis points per annumNo later than November 26, 2025NoneGeneral corporate purposes
Aflac Incorporated(1)
(Tranche 2)
uncommitted revolving364 daysNovember 25, 2025
¥50.0 billion
¥0.0 billion
Three-month yen TIBOR plus 75 basis points per annumNo later than November 26, 2025NoneGeneral corporate purposes
Aflac New York(1)
uncommitted revolving364 daysDecember 1, 2025
$25 million
$0 million
Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 75 basis points per annumNo later than December 2, 2025NoneGeneral corporate purposes
CAIC(1)
uncommitted revolving364 daysDecember 1, 2025
$15 million
$0 million
Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 75 basis points per annumNo later than December 2, 2025NoneGeneral corporate purposes
(1) Intercompany credit agreement
(continued)
Borrower(s)TypeTermExpiration DateCapacityAmount OutstandingInterest Rate on Borrowed AmountMaturity PeriodCommitment FeeBusiness Purpose
TOIC(1)
uncommitted revolving364 daysDecember 1, 2025
$0.3 million
$0 million
Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 75 basis points per annumNo later than December 2, 2025NoneGeneral corporate purposes
Aflac GI Holdings LLC(1)
uncommitted revolving364 daysDecember 1, 2025
$30 million
$0 million
Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 75 basis points per annumNo later than December 2, 2025NoneGeneral corporate purposes
Aflac Incorporated(1)
uncommitted revolving364 daysDecember 1, 2025
$400 million
$0 million
Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 97 basis points per annum for U.S. dollar-denominated borrowings or three-month TIBOR plus 97 basis points per annum for Japanese yen-denominated borrowingsNo later than December 2, 2025NoneGeneral corporate purposes
Aflac Re(1)
uncommitted revolving364 daysDecember 1, 2025
$400 million
$0 million
Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 68 basis points per annum for U.S. dollar-denominated borrowings or three-month TIBOR plus 68 basis points per annum for Japanese yen-denominated borrowingsNo later than December 2, 2025NoneGeneral corporate purposes
Aflac Asset Management LLC(1)
uncommitted revolving364 daysDecember 1, 2025
$25 million
$0 million
Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 68 basis points per annum for U.S. dollar-denominated borrowings or three-month TIBOR plus 68 basis points per annum for Japanese yen-denominated borrowingsNo later than December 2, 2025NoneGeneral corporate purposes
Aflac Global Ventures LLC(1)
uncommitted revolving364 daysDecember 1, 2025
$2 million
$0 million
Three-month term SOFR plus a 10 basis point SOFR adjustment and an additional 68 basis points per annum for U.S. dollar-denominated borrowings or three-month TIBOR plus 68 basis points per annum for Japanese yen-denominated borrowingsNo later than December 2, 2025NoneGeneral corporate purposes
(1) Intercompany credit agreement