AFLAC Incorporated to Reclassify Two Line Items in Balance Sheet, No Impact On Shareholders' Equity Or Earnings
October 30 2003 - 4:22PM
PR Newswire (US)
AFLAC Incorporated to Reclassify Two Line Items in Balance Sheet,
No Impact On Shareholders' Equity Or Earnings COLUMBUS, Ga., Oct.
30 /PRNewswire-FirstCall/ -- AFLAC Incorporated announced today
that two line items within the shareholders' equity section of the
balance sheet as of September 30, 2003 needed to be reclassified.
This reclassification increased unrealized gains on investment
securities by $220 million and reduced unrealized foreign currency
translation gains by $220 million. The reclassification had no
effect on total shareholders' equity, net earnings, or operating
earnings. (Logo:
http://www.newscom.com/cgi-bin/prnh/20010525/AFLACLOGO) Commenting
on the reclassification, Senior Vice President of Investor
Relations, Kenneth S. Janke Jr., said: "Although this
reclassification had no net impact on our financial results, we
made this announcement today because we believe it is vitally
important to protect and maintain our reputation for thorough and
timely disclosure to all members of the investment community."
AFLAC Incorporated (NYSE:AFL) is an international holding company.
A Fortune 500(R) company, AFLAC insures more than 40 million people
worldwide. It is a leading writer of insurance products marketed at
the worksite in the United States, offering policies to employees
at more than 278,900 payroll accounts. The company insures one out
of four Japanese households and is the largest life insurer in
Japan in terms of individual policies in force. In January 2003,
AFLAC was the number one insurance company in Fortune magazine's
list of "The 100 Best Companies to Work for" and was included in
the overall listing for the fifth consecutive year. In March 2003,
Fortune also included AFLAC in its annual listing of "America's
Most Admired Companies." And in July 2003, Fortune named AFLAC to
its list of "America's 50 Best Companies for Minorities." AFLAC's
Internet address is aflac.com. Analysts and investor contact,
Kenneth S. Janke Jr., +1-800-235-2667, option 3, or fax,
+1-706-324-6330, or , or Media, Laura Kane, +1-706-596-3493, or
fax, +1-706-320-2288, or , both of AFLAC Incorporated.
http://www.newscom.com/cgi-bin/prnh/20010525/AFLACLOGO
http://photoarchive.ap.org/ DATASOURCE: AFLAC Incorporated CONTACT:
analysts and investors, Kenneth S. Janke Jr., +1-800-235-2667,
option 3, or fax, +1-706-324-6330, or , or media, Laura Kane,
+1-706-596-3493, or fax, +1-706-320-2288, or , both of AFLAC Inc.
Web site: http://www.aflac.com/
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