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Business Segments (Tables)
3 Months Ended
Mar. 31, 2023
Segment Reporting [Abstract]  
Schedule of Segment Premium Income by Distribution Channel
Three Months Ended March 31, 2023
 LifeHealthAnnuityTotal
Distribution ChannelAmount% of
Total
Amount% of
Total
Amount% of
Total
Amount% of
Total
American Income$387,512 50 $29,594 $— — $417,106 38 
Direct to Consumer247,667 32 17,248 — — 264,915 24 
Liberty National85,203 11 46,972 15 — — 132,175 12 
United American1,882 — 132,607 41 — — 134,489 12 
Family Heritage1,480 — 96,072 30 — — 97,552 
Other48,853 — — — — 48,853 
$772,597 100 $322,493 100 $— — $1,095,090 100 
 Three Months Ended March 31, 2022
 LifeHealthAnnuityTotal
Distribution ChannelAmount
% of
Total
Amount
% of
Total
Amount
% of
Total
Amount
% of
Total
American Income$370,106 49 $28,766 $— — $398,872 37 
Direct to Consumer245,732 33 17,928 — — 263,660 25 
Liberty National80,560 11 47,760 15 — — 128,320 12 
United American2,074 — 131,690 42 — — 133,764 13 
Family Heritage1,359 — 89,540 28 — — 90,899 
Other49,297 — — — — 49,297 
$749,128 100 $315,684 100 $— — $1,064,812 100 
Schedule of Reconciliation of Segment Operating Information to Consolidated Statement of Operations
The following tables set forth a reconciliation of Globe Life's revenues and operations by segment to its major income statement line items. See Note 1—Significant Accounting Policies for additional information concerning reconciling items of segment profits to pretax income.
Three Months Ended March 31, 2023
LifeHealthAnnuityInvestmentCorporate & OtherAdjustmentsConsolidated
Revenue:
Premium$772,597 $322,493 $— $— $— $— $1,095,090 
Net investment income— — — 257,105 — — 257,105 
Other income— — — — 50 — 50 
Total revenue772,597 322,493 — 257,105 50 — 1,352,245 
Expenses:
Policy benefits507,977 190,962 7,541 1,447 — — 707,927 
Required interest on reserves(189,821)(26,323)(10,259)226,403 — — — 
Amortization of acquisition costs79,589 12,308 425 — — — 92,322 
Commissions, premium taxes, and non-deferred acquisition costs83,578 54,214 — — — 137,797 
Insurance administrative expense(1)
— — — — 73,907 73,907 
Parent expense— — — — 2,585 — 2,585 
Stock-based compensation expense— — — — 7,679 — 7,679 
Interest expense— — — — 24,867 — 24,867 
Total expenses481,323 231,161 (2,288)227,850 109,038 — 1,047,084 
Subtotal291,274 91,332 2,288 29,255 (108,988)— 305,161 
Non-operating items— — — — — — 
Measure of segment profitability (pretax)
$291,274 $91,332 $2,288 $29,255 $(108,988)$— 305,161 
Realized gain (loss)—investments(30,927)
Income before income taxes per Condensed Consolidated Statements of Operations
$274,234 
(1)Administrative expense is not allocated to insurance segments.
Three Months Ended March 31, 2022
LifeHealthAnnuityInvestmentCorporate & OtherAdjustmentsConsolidated
Revenue:
Premium$749,128 $315,684 $— $— $— $— $1,064,812 
Net investment income— — — 244,894 — — 244,894 
Other income— — — — 164 — 164 
Total revenue749,128 315,684 — 244,894 164 — 1,309,870 
Expenses:
Policy obligations495,429 189,018 8,642 1,060 — — 694,149 
Required interest on reserves(181,372)(25,270)(11,367)218,009 — — — 
Amortization of acquisition costs71,929 12,114 453 — — — 84,496 
Commissions, premium taxes, and non-deferred acquisition costs73,548 51,952 — — — 125,509 
Insurance administrative expense(1)
— — — — 72,565 112 (2)72,677 
Parent expense— — — — 2,640 2,640 
Stock-based compensation expense— — — — 9,035 — 9,035 
Interest expense— — — — 19,944 — 19,944 
Total expenses459,534 227,814 (2,263)219,069 104,184 112 1,008,450 
Subtotal289,594 87,870 2,263 25,825 (104,020)(112)301,420 
Non-operating items— — — — — 112 (2)112 
Measure of segment profitability (pretax)
$289,594 $87,870 $2,263 $25,825 $(104,020)$— 301,532 
Realized gain (loss)—investments(7,244)
Non-operating expenses(112)
Income before income taxes per Condensed Consolidated Statements of Operations
$294,176 
(1)Administrative expense is not allocated to insurance segments.
(2)Non-operating expenses.