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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☒

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2021

or

☐

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                      to                     

Commission File Number: 001-07434

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  þ  Yes  ¨  No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).            þ  Yes  ¨  No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company.  See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  ☐  Yes  þ  No

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date. 679,667,234 shares of the issuer's common stock were outstanding as of April 20, 2021.

Aflac Incorporated and Subsidiaries

Quarterly Report on Form 10-Q

For the Quarter Ended March 31, 2021

Table of Contents

 

PART I.						FINANCIAL INFORMATION:			Page
			Item 1.			Financial Statements (Unaudited)
						Consolidated Statements of Earnings   Three Months Ended March 31, 2021 and 2020			1
						Consolidated Statements of Comprehensive Income (Loss)    Three Months Ended March 31, 2021 and 2020			2
						Consolidated Balance Sheets   March 31, 2021, and December 31, 2020			3
						Consolidated Statements of Shareholders' Equity   Three Months Ended March 31, 2021 and 2020			4
						Consolidated Statements of Cash Flows   Three Months Ended March 31, 2021 and 2020			5
						Notes to the Consolidated Financial Statements			6
			Item 2.			Management's Discussion and Analysis of Financial Condition and Results of Operations			60
			Item 3.			Quantitative and Qualitative Disclosures about Market Risk			93
			Item 4.			Controls and Procedures			93
PART II.						OTHER INFORMATION:
			Item 2.			Unregistered Sales of Equity Securities and Use of Proceeds			94
			Item 5.			Other Information			94
			Item 6.			Exhibits			95
Glossary of Selected Terms									96

Items other than those listed above are omitted because they are not required or are not applicable.