XML 52 R34.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Business Segments (Tables)
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Schedule of Segment Premium Income by Distribution Channel
The following tables present segment premium revenue by each of Globe Life's distribution channels.
Premium Income by Distribution Channel
Three Months Ended June 30, 2024
 LifeHealthAnnuityTotal
Distribution ChannelAmount% of
Total		Amount% of
Total		Amount% of
Total		Amount% of
Total
American Income$423,534 52 $30,721 9 $— — $454,255 39 
Direct to Consumer248,839 31 18,132 5 — — 266,971 23 
Liberty National92,197 11 47,705 14 — — 139,902 12 
United American1,558 — 149,230 42 — — 150,788 13 
Family Heritage1,645 — 105,855 30 — — 107,500 9 
Other47,709 6 — — — — 47,709 4 
$815,482 100 $351,643 100 $— — $1,167,125 100 

 Three Months Ended June 30, 2023
 LifeHealthAnnuityTotal
Distribution ChannelAmount
% of
Total
Amount
% of
Total
Amount
% of
Total
Amount
% of
Total
American Income$394,620 51 $29,527 9 $— — $424,147 38 
Direct to Consumer248,607 32 17,175 5 — — 265,782 24 
Liberty National86,634 11 46,903 14 — — 133,537 12 
United American1,849 — 137,453 42 — — 139,302 13 
Family Heritage1,513 — 98,129 30 — — 99,642 9 
Other48,510 6 — — — — 48,510 4 
$781,733 100 $329,187 100 $— — $1,110,920 100 
Six Months Ended June 30, 2024
 LifeHealthAnnuityTotal
Distribution ChannelAmount% of
Total		Amount% of
Total		Amount% of
Total		Amount% of
Total
American Income$837,578 52 $61,218 9 $— — $898,796 39 
Direct to Consumer496,879 31 35,998 5 — — 532,877 23 
Liberty National182,974 11 95,335 14 — — 278,309 12 
United American3,401 — 290,865 42 — — 294,266 13 
Family Heritage3,261 — 209,246 30 — — 212,507 9 
Other95,654 6 — — — — 95,654 4 
$1,619,747 100 $692,662 100 $— — $2,312,409 100 
 Six Months Ended June 30, 2023
 LifeHealthAnnuityTotal
Distribution ChannelAmount
% of
Total
Amount
% of
Total
Amount
% of
Total
Amount
% of
Total
American Income$782,132 51 $59,121 9 $— — $841,253 38 
Direct to Consumer496,274 32 34,423 5 — — 530,697 24 
Liberty National171,837 11 93,875 14 — — 265,712 12 
United American3,731 — 270,060 42 — — 273,791 12 
Family Heritage2,993 — 194,201 30 — — 197,194 9 
Other97,363 6 — — — — 97,363 5 
$1,554,330 100 $651,680 100 $— — $2,206,010 100 
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 June 30, 2024
LifeHealthAnnuityInvestmentCorporate & OtherAdjustmentsConsolidated
Revenue:
Premium$815,482 $351,643 $— $— $— $— $1,167,125 
Net investment income— — — 285,636 — — 285,636 
Other income— — — — 74 — 74 
Total revenue815,482 351,643 — 285,636 74 — 1,452,835 
Expenses:
Policy benefits518,792 205,423 5,943 5,536 — — 735,694 
Required interest on reserves(201,815)(27,410)(8,084)237,309 — — — 
Amortization of acquisition costs87,915 13,611 389 — — — 101,915 
Commissions, premium taxes, and non-deferred acquisition costs90,267 59,531 4 — — — 149,802 
Insurance administrative expense(1)
— — — — 82,196 916 (2)83,112 
Parent expense— — — — 3,130 2,776 (2,3)5,906 
Stock-based compensation expense— — — — 10,090 — 10,090 
Interest expense— — — — 31,404 — 31,404 
Total expenses495,159 251,155 (1,748)242,845 126,820 3,692 1,117,923 
Subtotal320,323 100,488 1,748 42,791 (126,746)(3,692)334,912 
Non-operating items— — — — — 3,692 (2,3)3,692 
Measure of segment profitability (pretax)
$320,323 $100,488 $1,748 $42,791 $(126,746)$— 338,604 
Realized gains (losses)(12,589)
Legal costs and proceedings(2,435)
Non-operating expenses(1,257)
Income before income taxes per Condensed Consolidated Statements of Operations
$322,323 
(1)Administrative expense is not allocated to insurance segments.
(2)Legal costs and proceedings.
(3)Non-operating expenses.
Three Months Ended June 30, 2023
LifeHealthAnnuityInvestmentCorporate & OtherAdjustmentsConsolidated
Revenue:
Premium$781,733 $329,187 $— $— $— $— $1,110,920 
Net investment income— — — 261,244 — — 261,244 
Other income— — — — 85 — 85 
Total revenue781,733 329,187 — 261,244 85 — 1,372,249 
Expenses:
Policy obligations512,664 195,924 7,107 1,815 — — 717,510 
Required interest on reserves(191,781)(26,548)(9,715)228,044 — — — 
Amortization of acquisition costs81,173 12,484 423 — — — 94,080 
Commissions, premium taxes, and non-deferred acquisition costs83,547 54,908 4 — — — 138,459 
Insurance administrative expense(1)
— — — — 75,459 — 75,459 
Parent expense— — — — 3,088 3,088 
Stock-based compensation expense— — — — 7,486 — 7,486 
Interest expense— — — — 25,818 — 25,818 
Total expenses485,603 236,768 (2,181)229,859 111,851 — 1,061,900 
Subtotal296,130 92,419 2,181 31,385 (111,766)— 310,349 
Non-operating items— — — — — — — 
Measure of segment profitability (pretax)
$296,130 $92,419 $2,181 $31,385 $(111,766)$— 310,349 
Realized gains (losses)(45,843)
Income before income taxes per Condensed Consolidated Statements of Operations
$264,506 
(1)Administrative expense is not allocated to insurance segments.
Six Months Ended June 30, 2024
LifeHealthAnnuityInvestmentCorporate & OtherAdjustmentsConsolidated
Revenue:
Premium$1,619,747 $692,662 $— $— $— $— $2,312,409 
Net investment income— — — 568,214 — — 568,214 
Other income— — — — 150 — 150 
Total revenue1,619,747 692,662 — 568,214 150 — 2,880,773 
Expenses:
Policy obligations1,038,663 407,750 12,070 9,004 — — 1,467,487 
Required interest on reserves(401,522)(54,583)(16,529)472,634 — — — 
Required interest on DAC— — — — — — — 
Amortization of acquisition costs173,683 26,922 788 — — — 201,393 
Commissions, premium taxes, and non-deferred acquisition costs179,589 118,315 8 — — — 297,912 
Insurance administrative expense(1)
— — — — 162,607 916 (2)163,523 
Parent expense— — — — 5,956 3,486 (2,3)9,442 
Stock-based compensation expense— — — — 19,357 — 19,357 
Interest expense— — — — 60,025 — 60,025 
Total expenses990,413 498,404 (3,663)481,638 247,945 4,402 2,219,139 
Subtotal629,334 194,258 3,663 86,576 (247,795)(4,402)661,634 
Non-operating items— — — — — 4,402 (2,3)4,402 
Measure of segment profitability (pretax)
$629,334 $194,258 $3,663 $86,576 $(247,795)$— 666,036 
Realized gains (losses)(24,388)
Legal costs and proceedings(2,435)
Non-operating expenses(1,967)
Income before income taxes per Condensed Consolidated Statements of Operations
$637,246 
(1)Administrative expense is not allocated to insurance segments.
(2)Legal costs and proceedings.
(3)Non-operating expenses.
Six Months Ended June 30, 2023
LifeHealthAnnuityInvestmentCorporate & OtherAdjustmentsConsolidated
Revenue:
Premium$1,554,330 $651,680 $— $— $— $— $2,206,010 
Net investment income— — — 518,349 — — 518,349 
Other income— — — — 135 — 135 
Total revenue1,554,330 651,680 — 518,349 135 — 2,724,494 
Expenses:
Policy obligations1,020,641 386,886 14,648 3,262 — — 1,425,437 
Required interest on reserves(381,602)(52,871)(19,974)454,447 — — — 
Amortization of acquisition costs160,762 24,792 848 — — — 186,402 
Commissions, premium taxes, and non-deferred acquisition costs167,125 109,122 9 — — — 276,256 
Insurance administrative expense(1)
— — — — 149,366 — 149,366 
Parent expense— — — — 5,673 — 5,673 
Stock-based compensation expense— — — — 15,165 — 15,165 
Interest expense— — — — 50,685 — 50,685 
Total expenses966,926 467,929 (4,469)457,709 220,889 — 2,108,984 
Subtotal587,404 183,751 4,469 60,640 (220,754)— 615,510 
Non-operating items— — — — — — — 
Measure of segment profitability (pretax)
$587,404 $183,751 $4,469 $60,640 $(220,754)$— 615,510 
Realized gains (losses)(76,770)
Income before income taxes per Condensed Consolidated Statements of Operations
$538,740 
(1)Administrative expense is not allocated to insurance segments.