Deferred Acquisition Costs (Tables)

6 Months Ended

Jun. 30, 2024

The following tables roll forward the deferred policy acquisition costs for the three and six month periods ended June 30, 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	234,172		87,389		50,649		6,767		378,977
Amortization expense	(77,742)		(49,605)		(25,163)		(8,252)		(160,762)
Foreign exchange adjustment	2,759		—		—		—		2,759

Balance at June 30, 2023	$	2,417,480	$	1,714,715	$	636,209	$	296,861	$	5,065,265






Balance at January 1, 2024	$	2,573,370	$	1,737,117	$	666,419	$	294,869	$	5,271,775
Capitalizations	259,856		78,976		58,100		6,280		403,212
Amortization expense	(87,377)		(50,420)		(27,614)		(8,272)		(173,683)
Foreign exchange adjustment	(5,711)		—		—		—		(5,711)

Balance at June 30, 2024	$	2,740,138	$	1,765,673	$	696,905	$	292,877	$	5,495,593


	Life
	American Income		DTC		Liberty National		Other		Total





Balance at April 1, 2023	$	2,332,600	$	1,699,588	$	622,532	$	297,542	$	4,952,262
Capitalizations	118,777		39,979		26,428		3,446		188,630
Amortization expense	(39,443)		(24,852)		(12,751)		(4,127)		(81,173)
Foreign exchange adjustment	5,546		—		—		—		5,546

Balance at June 30, 2023	$	2,417,480	$	1,714,715	$	636,209	$	296,861	$	5,065,265






Balance at April 1, 2024	$	2,652,009	$	1,754,184	$	678,885	$	293,747	$	5,378,825
Capitalizations	132,413		36,851		32,035		3,267		204,566
Amortization expense	(44,401)		(25,362)		(14,015)		(4,137)		(87,915)
Foreign exchange adjustment	117		—		—		—		117

Balance at June 30, 2024	$	2,740,138	$	1,765,673	$	696,905	$	292,877	$	5,495,593


	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	996		30,591		9,734		6,320		—		47,641
Amortization expense	(3,041)		(13,200)		(6,554)		(1,903)		(94)		(24,792)
Foreign exchange adjustment	—		—		—		57		—		57

Balance at June 30, 2023	$	75,349	$	433,999	$	136,276	$	62,285	$	1,760	$	709,669
















Balance at January 1, 2024	$	73,489	$	452,843	$	139,941	$	66,783	$	1,679	$	734,735
Capitalizations	1,289		33,932		12,444		7,280		2		54,947
Amortization expense	(2,803)		(14,521)		(7,288)		(2,237)		(73)		(26,922)
Foreign exchange adjustment	—		—		—		(237)		—		(237)

Balance at June 30, 2024	$	71,975	$	472,254	$	145,097	$	71,589	$	1,608	$	762,523


	Health
	United American		Family Heritage		Liberty National		American Income		DTC		Total





Balance at April 1, 2023	$	76,388	$	425,145	$	134,728	$	59,890	$	1,807	$	697,958
Capitalizations	489		15,494		4,852		3,177		—		24,012
Amortization expense	(1,528)		(6,640)		(3,304)		(965)		(47)		(12,484)
Foreign exchange adjustment	—		—		—		183		—		183

Balance at June 30, 2023	$	75,349	$	433,999	$	136,276	$	62,285	$	1,760	$	709,669
















Balance at April 1, 2024	$	72,604	$	462,346	$	144,313	$	68,938	$	1,643	$	749,844
Capitalizations	793		17,242		4,465		3,750		1		26,251
Amortization expense	(1,422)		(7,334)		(3,681)		(1,138)		(36)		(13,611)
Foreign exchange adjustment	—		—		—		39		—		39

Balance at June 30, 2024	$	71,975	$	472,254	$	145,097	$	71,589	$	1,608	$	762,523

The following table presents a reconciliation of deferred policy acquisition costs to the Condensed Consolidated Balance Sheets as of June 30, 2024: