Aflac adopts LDTI accounting standard; updates historical FAB supplement with no earnings impact

AFLAC INC

Adoption of ASU 2018-12 (LDTI) effective Jan 1, 2023; transition date Jan 1, 2021.
Change in presentation: deferred profit liability moved from benefits/claims to net earned premiums; no impact on net earnings.
FAB Supplement for Dec 31, 2022 adjusted for LDTI; furnished as Exhibit 99.1.
All comparative periods in future financial statements will reflect the new presentation.

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