Deferred Acquisition Costs (Tables)

3 Months Ended

Mar. 31, 2024

The following tables roll forward the deferred policy acquisition costs for the three month periods ended March 31, 2024 and 2023:


	Life
	American Income		DTC		Liberty National		Other		Total





Balance at January 1, 2023	$	2,258,291	$	1,676,931	$	610,723	$	298,346	$	4,844,291
Capitalizations	115,395		47,410		24,221		3,321		190,347
Amortization expense	(38,299)		(24,753)		(12,412)		(4,125)		(79,589)
Foreign exchange adjustment	(2,787)		—		—		—		(2,787)

Balance at March 31, 2023	$	2,332,600	$	1,699,588	$	622,532	$	297,542	$	4,952,262






Balance at January 1, 2024	$	2,573,370	$	1,737,117	$	666,419	$	294,869	$	5,271,775
Capitalizations	127,443		42,125		26,065		3,013		198,646
Amortization expense	(42,976)		(25,058)		(13,599)		(4,135)		(85,768)
Foreign exchange adjustment	(5,828)		—		—		—		(5,828)

Balance at March 31, 2024	$	2,652,009	$	1,754,184	$	678,885	$	293,747	$	5,378,825


	Health
	United American		Family Heritage		Liberty National		American Income		DTC		Total





Balance at January 1, 2023	$	77,394	$	416,608	$	133,096	$	57,811	$	1,854	$	686,763
Capitalizations	507		15,097		4,882		3,143		—		23,629
Amortization expense	(1,513)		(6,560)		(3,250)		(938)		(47)		(12,308)
Foreign exchange adjustment	—		—		—		(126)		—		(126)

Balance at March 31, 2023	$	76,388	$	425,145	$	134,728	$	59,890	$	1,807	$	697,958
















Balance at January 1, 2024	$	73,489	$	452,843	$	139,941	$	66,783	$	1,679	$	734,735
Capitalizations	496		16,690		7,979		3,530		1		28,696
Amortization expense	(1,381)		(7,187)		(3,607)		(1,099)		(37)		(13,311)
Foreign exchange adjustment	—		—		—		(276)		—		(276)

Balance at March 31, 2024	$	72,604	$	462,346	$	144,313	$	68,938	$	1,643	$	749,844

The following table presents a reconciliation of deferred policy acquisition costs to the Condensed Consolidated Balance Sheets as of March 31, 2024: