Aflac Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2020 - 2016
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	2020 - 2016
Net Income	3,646	5,443	4,659	4,418	4,231	Upgrade
Depreciation & Amortization	36	40	39	45	45	Upgrade
Other Amortization	874	851	816	792	835	Upgrade
Gain (Loss) on Sale of Investments	572	-1,271	-590	-363	-468	Upgrade
Change in Accounts Receivable	-66	51	-133	5	72	Upgrade
Change in Income Taxes	-278	-393	-967	-509	96	Upgrade
Change in Insurance Reserves / Liabilities	-815	-302	-552	726	774	Upgrade
Other Operating Activities	-1,414	-1,712	-82	-1,235	-534	Upgrade
Operating Cash Flow	2,555	2,707	3,190	3,879	5,051	Upgrade
Operating Cash Flow Growth	-5.62%	-15.14%	-17.76%	-23.20%	-15.22%	Upgrade
Investment in Securities	-965	1,065	643	789	-2,946	Upgrade
Other Investing Activities	1,843	657	-471	-622	1,751	Upgrade
Investing Cash Flow	1,561	2,781	817	-1,540	-2,378	Upgrade
Long-Term Debt Issued	1,039	823	204	1,277	1,153	Upgrade
Total Debt Repaid	-84	-194	-	-1,416	-700	Upgrade
Net Debt Issued (Repaid)	955	629	204	-139	453	Upgrade
Issuance of Common Stock	8	14	17	17	26	Upgrade
Repurchases of Common Stock	-3,530	-2,800	-2,801	-2,401	-2,301	Upgrade
Common Dividends Paid	-1,198	-1,087	-966	-979	-855	Upgrade
Other Financing Activities	-38	-28	-17	34	-26	Upgrade
Financing Cash Flow	-4,069	-3,486	-3,723	-3,551	-2,739	Upgrade
Foreign Exchange Rate Adjustments	-31	-79	79	104	-24	Upgrade
Net Cash Flow	16	1,923	363	-1,108	-90	Upgrade
Cash Interest Paid	197	180	185	211	213	Upgrade
Cash Income Tax Paid	1,165	1,367	1,569	961	880	Upgrade
Levered Free Cash Flow	5,175	4,853	4,311	-4,953	2,644	Upgrade
Unlevered Free Cash Flow	5,313	4,976	4,433	-4,812	2,793	Upgrade
Change in Working Capital	-1,159	-644	-1,652	222	942	Upgrade

Source: S&P Capital IQ. Insurance template. Financial Sources.