Debt (Tables)

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Schedule of Selected Information about Debt Issues

The following table presents information about the terms and outstanding balances of Globe Life's debt.

Selected Information about Debt Issues

				As of
				March 31, 2024								December 31, 2023
Instrument	Issue Date	Maturity Date	Coupon Rate	Par Value		Unamortized Discount & Issuance Costs		Book Value		Fair Value		Book Value
Senior notes	09/27/2018	09/15/2028	4.550%	$	550,000	$	(3,538)	$	546,462	$	539,198	$	546,283
Senior notes	08/21/2020	08/15/2030	2.150%	400,000		(3,214)		396,786		334,816		396,670
Senior notes(1)	05/19/2022	06/15/2032	4.800%	250,000		(4,028)		245,972		242,950		245,873
Junior subordinated debentures	11/17/2017	11/17/2057	5.275%	125,000		(1,569)		123,431		123,538		123,427
Junior subordinated debentures	06/14/2021	06/15/2061	4.250%	325,000		(7,673)		317,327		270,010		317,306
Total long-term debt				1,650,000		(20,022)		1,629,978		1,510,512		1,629,559
Term loan(2)	05/11/2023	11/11/2024	6.680%	170,000		(324)		169,676		169,676		169,549
FHLB borrowings				242,000		—		242,000		242,000		—
Commercial paper				324,000		(2,132)		321,868		321,868		316,564
Total short-term debt				736,000		(2,456)		733,544		733,544		486,113
Total debt				$	2,386,000	$	(22,478)	$	2,363,522	$	2,244,056	$	2,115,672

(1)An additional $150 million par value and book value is held by insurance subsidiaries that eliminates in consolidation.

(2)Interest calculated quarterly using Secured Overnight Financing Rate (SOFR) plus 135 basis points.

The following tables present certain information about our commercial paper borrowings.

Credit Facility—Commercial Paper

(Dollar amounts in thousands)

	At
	March 31, 2024			December 31, 2023			March 31, 2023
Balance of commercial paper at end of period (par value)	$	324,000		$	319,000		$	305,000
Annualized interest rate	5.63		%	5.71		%	5.28		%
Letters of credit outstanding	$	115,000		$	115,000		$	115,000
Remaining amount available under credit line	561,000			316,000			330,000

Credit Facility—Commercial Paper Activity

(Dollar amounts in thousands)

	Three Months Ended March 31,
	2024			2023
Average balance of commercial paper outstanding during period (par value)	$	346,088		$	293,892
Daily-weighted average interest rate (annualized)	5.68		%	4.95		%
Maximum daily amount outstanding during period (par value)	$	384,000		$	477,700
Commercial paper issued during period (par value)	404,000			545,000
Commercial paper matured during period (par value)	(399,000)			(525,000)
Net commercial paper issued (matured) during period (par value)	5,000			20,000