DEFERRED POLICY ACQUISITION COSTS

12 Months Ended

Dec. 31, 2025

Deferred Policy Acquisition Costs Disclosures [Abstract]

DEFERRED POLICY ACQUISITION COSTS

DEFERRED POLICY ACQUISITION COSTS

The following tables present a rollforward of deferred policy acquisition costs by reporting segment and disaggregated by product type for the years ended December 31.

	2025
	Aflac Japan								Aflac U.S.
(In millions)	Cancer		Medical and Other Health		Life Insurance		Other		Accident		Disability		Critical Care		Hospital Indemnity		Dental/Vision		Life Insurance		Other		Total
Deferred policy acquisition costs:
Balance, beginning of year	$	2,776	$	1,833	$	441	$	52	$	915	$	636	$	1,348	$	452	$	86	$	219	$	0	$	8,758
Capitalization	357		85		33		3		137		127		162		90		13		98		0		1,105
Amortization expense	(188)		(99)		(33)		(3)		(143)		(122)		(155)		(79)		(12)		(40)		0		(874)
Foreign currency translation and   other	20		21		5		(1)		0		0		0		0		0		0		0		45
Balance, end of year	$	2,965	$	1,840	$	446	$	51	$	909	$	641	$	1,355	$	463	$	87	$	277	$	0	$	9,034

	2024
	Aflac Japan								Aflac U.S.
(In millions)	Cancer		Medical and Other Health		Life Insurance		Other		Accident		Disability		Critical Care		Hospital Indemnity		Dental/Vision		Life Insurance		Other		Total
Deferred policy acquisition costs:
Balance, beginning of year	$	2,971	$	2,041	$	491	$	56	$	917	$	625	$	1,336	$	436	$	86	$	172	$	1	$	9,132
Capitalization	300		103		36		4		141		129		165		89		12		77		0		1,056
Amortization expense	(184)		(100)		(34)		(3)		(143)		(118)		(153)		(73)		(12)		(30)		(1)		(851)
Foreign currency translation and   other	(311)		(211)		(52)		(5)		0		0		0		0		0		0		0		(579)
Balance, end of year	$	2,776	$	1,833	$	441	$	52	$	915	$	636	$	1,348	$	452	$	86	$	219	$	0	$	8,758

Commissions deferred as a percentage of total acquisition costs deferred were 67% in 2025, compared with 69% in 2024 and 67% in 2023.

There were no changes to the inputs, judgments or methods used to determine amortization amounts during 2025 and 2024. The Company updated the assumptions used to determine amortization using the same assumptions as those used for measuring the liability for future policy benefits during 2025 and 2024. The Company recognizes the effects of changes in assumptions prospectively over the remaining contract term as a revision of the future amortization pattern.

See Note 1 for additional information on deferred policy acquisition costs.