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Aflac Incorporated and Subsidiaries
Consolidated Statements of Shareholders’ Equity
Years Ended December 31,
(In millions, except for per-share amounts)
2016
2015
2014
Common stock:
Balance, beginning of period
$
67
$
67 $
67
Balance, end of period
67
67
67
Additional paid-in capital:
Balance, beginning of period
1,828
1,711
1,644
Exercise of stock options
46
43
29
Share-based compensation
64
36
(3)
Gain (loss) on treasury stock reissued
38
38
41
Balance, end of period
1,976
1,828
1,711
Retained earnings:
Balance, beginning of period
24,007
22,156 19,885
Net earnings
2,659
2,533
2,951
Dividends to shareholders ($1.66 per share in 2016, $1.58 per share in 2015 and
$1.50 per share in 2014)
(685)
(682)
(680)
Balance, end of period
25,981
24,007 22,156
Accumulated other comprehensive income (loss):
Balance, beginning of period
625
1,979
(563)
Unrealized foreign currency translation gains (losses) during
period, net of income taxes
213
345 (1,036)
Unrealized gains (losses) on investment securities during period,
net of income taxes and reclassification adjustments
1,819
(1,686)
3,637
Unrealized gains (losses) on derivatives during period, net of
income taxes
2
0
(14)
Pension liability adjustment during period, net of income taxes
(29)
(13)
(45)
Balance, end of period
2,630
625
1,979
Treasury stock:
Balance, beginning of period
(8,819)
(7,566)
(6,413)
Purchases of treasury stock
(1,422)
(1,315)
(1,210)
Cost of shares issued
69
62
57
Balance, end of period
(10,172)
(8,819)
(7,566)
Total shareholders’ equity
$ 20,482
$ 17,708 $ 18,347
See the accompanying Notes to the Consolidated Financial Statements.
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