Aflac (AFL) FY2021 results: revenue $21.6 billion, down 2.7% on the year
Aflac Inc. (AFL) reported revenue of $21.6 billion for fiscal 2021, the year ended 31 December 2021, down 2.7% on the year before. Net income was $4.2 billion, down 11.4%, and diluted earnings per share $6.25. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2022.
Revenue
$21.6 billion
-2.7% on the year
FY2014FY2021
Operating margin
22.9%
19.9% a year earlier
FY2014FY2021
Net income
$4.2 billion
-11.4% on the year
FY2014FY2021
Diluted EPS
$6.25
-6.3% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
5,051
5,958
5,455
-15.2%
Cash from investing
-2,378
-4,619
-3,171
Cash from financing
-2,739
-1,115
-1,713
Depreciation and amortisation
45.0
41.0
41.0
+9.8%
Buybacks
2,301
1,537
1,627
+49.7%
Dividends paid
855
769
771
+11.2%
Dividend per share
$1.32
$1.12
$1.08
+17.9%
Diluted shares, weighted
677m
716m
746m
-5.5%
Shares outstanding at period end
652m
692m
727m
-5.8%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
17,031
33,559
28,959
-49.3%
Debt
7,839
7,745
6,408
+1.2%
Other liabilities
132,672
123,782
117,401
+7.2%
Total liabilities and equity
157,542
165,086
152,768
-4.6%
Fixed assets
538
601
581
-10.5%
Goodwill
268
269
140
-0.4%
Securities held for sale or to maturity
120,704
130,356
121,347
-7.4%
Loans
11,786
10,554
9,569
+11.7%
Securities borrowed
2,124
n/a
n/a
Cash and equivalents
5,051
5,141
4,896
-1.8%
Other assets
17,071
18,165
16,235
-6.0%
Total assets
157,542
165,086
152,768
-4.6%
10-K for the year ended 31 December 2021, filed 23 February 2022: the filing.