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Business Segments (Tables)
9 Months Ended
Sep. 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 September 30, 2024
 LifeHealthAnnuityTotal
Distribution ChannelAmount% of
Total
Amount% of
Total
Amount% of
Total
Amount% of
Total
American Income$427,839 52 $31,277 $— — $459,116 39 
Direct to Consumer246,425 30 18,072 — — 264,497 23 
Liberty National93,625 12 47,277 13 — — 140,902 12 
United American1,608 — 149,510 42 — — 151,118 13 
Family Heritage1,684 — 107,819 31 — — 109,503 
Other47,457 — — — — 47,457 
$818,638 100 $353,955 100 $— — $1,172,593 100 

 Three Months Ended September 30, 2023
 LifeHealthAnnuityTotal
Distribution ChannelAmount
% of
Total
Amount
% of
Total
Amount
% of
Total
Amount
% of
Total
American Income$400,214 51 $30,535 $— — $430,749 39 
Direct to Consumer247,858 32 17,153 — — 265,011 24 
Liberty National88,199 11 46,643 14 — — 134,842 12 
United American1,802 — 137,077 42 — — 138,879 12 
Family Heritage1,561 — 99,828 30 — — 101,389 
Other48,465 — — — — 48,465 
$788,099 100 $331,236 100 $— — $1,119,335 100 
Nine Months Ended September 30, 2024
 LifeHealthAnnuityTotal
Distribution ChannelAmount% of
Total
Amount% of
Total
Amount% of
Total
Amount% of
Total
American Income$1,265,417 52 $92,495 $— — $1,357,912 39 
Direct to Consumer743,304 31 54,070 — — 797,374 23 
Liberty National276,599 11 142,612 14 — — 419,211 12 
United American5,009 — 440,375 42 — — 445,384 13 
Family Heritage4,945 — 317,065 30 — — 322,010 
Other143,111 — — — — 143,111 
$2,438,385 100 $1,046,617 100 $— — $3,485,002 100 
 Nine Months Ended September 30, 2023
 LifeHealthAnnuityTotal
Distribution ChannelAmount
% of
Total
Amount
% of
Total
Amount
% of
Total
Amount
% of
Total
American Income$1,182,346 50 $89,656 $— — $1,272,002 38 
Direct to Consumer744,132 32 51,576 — — 795,708 24 
Liberty National260,036 11 140,518 14 — — 400,554 12 
United American5,533 — 407,137 42 — — 412,670 13 
Family Heritage4,554 — 294,029 30 — — 298,583 
Other145,828 — — — — 145,828 
$2,342,429 100 $982,916 100 $— — $3,325,345 100 
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 September 30, 2024
LifeHealthAnnuityInvestmentCorporate & OtherAdjustmentsConsolidated
Revenue:
Premium$818,638 $353,955 $— $— $— $— $1,172,593 
Net investment income— — — 284,964 — — 284,964 
Other income— — — — 42 — 42 
Total revenue818,638 353,955 — 284,964 42 — 1,457,599 
Expenses:
Policy benefits454,502 221,926 5,716 6,040 — — 688,184 
Required interest on reserves(203,875)(27,717)(7,829)239,421 — — — 
Amortization of acquisition costs90,070 13,852 388 — — — 104,310 
Commissions, premium taxes, and non-deferred acquisition costs90,758 58,931 — — — 149,693 
Insurance administrative expense(1)
— — — — 88,465 730 (3)89,195 
Parent expense— — — — 3,210 3,236 (2,3)6,446 
Stock-based compensation expense— — — — 9,233 — 9,233 
Interest expense— — — — 31,388 — 31,388 
Total expenses431,455 266,992 (1,721)245,461 132,296 3,966 1,078,449 
Subtotal387,183 86,963 1,721 39,503 (132,254)(3,966)379,150 
Non-operating items— — — — — 3,966 (2,3)3,966 
Measure of segment profitability (pretax)
$387,183 $86,963 $1,721 $39,503 $(132,254)$— 383,116 
Realized gains (losses)(2,192)
Legal costs and proceedings(3,329)
Non-operating expenses(637)
Income before income taxes per Condensed Consolidated Statements of Operations
$376,958 
(1)Administrative expense is not allocated to insurance segments.
(2)Non-operating expenses.
(3)Legal costs and proceedings.
Three Months Ended September 30, 2023
LifeHealthAnnuityInvestmentCorporate & OtherAdjustmentsConsolidated
Revenue:
Premium$788,099 $331,236 $— $— $— $— $1,119,335 
Net investment income— — — 266,926 — — 266,926 
Other income— — — — 50 — 50 
Total revenue788,099 331,236 — 266,926 50 — 1,386,311 
Expenses:
Policy obligations515,676 193,790 6,854 2,724 — — 719,044 
Required interest on reserves(194,199)(26,732)(9,353)230,284 — — — 
Amortization of acquisition costs82,523 12,816 418 — — — 95,757 
Commissions, premium taxes, and non-deferred acquisition costs84,011 54,662 — — — 138,677 
Insurance administrative expense(1)
— — — — 74,585 — 74,585 
Parent expense— — — — 2,581 1,137 (2)3,718 
Stock-based compensation expense— — — — 7,567 — 7,567 
Interest expense— — — — 25,955 — 25,955 
Total expenses488,011 234,536 (2,077)233,008 110,688 1,137 1,065,303 
Subtotal300,088 96,700 2,077 33,918 (110,638)(1,137)321,008 
Non-operating items— — — — — 1,137 (2)1,137 
Measure of segment profitability (pretax)
$300,088 $96,700 $2,077 $33,918 $(110,638)$— 322,145 
Realized gains (losses)(2,193)
Non-operating expenses(1,137)
Income before income taxes per Condensed Consolidated Statements of Operations
$318,815 
(1)Administrative expense is not allocated to insurance segments.
(2)Non-operating expenses.
Nine Months Ended September 30, 2024
LifeHealthAnnuityInvestmentCorporate & OtherAdjustmentsConsolidated
Revenue:
Premium$2,438,385 $1,046,617 $— $— $— $— $3,485,002 
Net investment income— — — 853,178 — — 853,178 
Other income— — — — 192 — 192 
Total revenue2,438,385 1,046,617 — 853,178 192 — 4,338,372 
Expenses:
Policy obligations1,493,165 629,676 17,786 15,044 — — 2,155,671 
Required interest on reserves(605,397)(82,300)(24,358)712,055 — — — 
Amortization of acquisition costs263,753 40,774 1,176 — — — 305,703 
Commissions, premium taxes, and non-deferred acquisition costs270,347 177,246 12 — — — 447,605 
Insurance administrative expense(1)
— — — — 251,072 1,646 (3)252,718 
Parent expense— — — — 9,166 6,722 (2,3)15,888 
Stock-based compensation expense— — — — 28,590 — 28,590 
Interest expense— — — — 91,413 — 91,413 
Total expenses1,421,868 765,396 (5,384)727,099 380,241 8,368 3,297,588 
Subtotal1,016,517 281,221 5,384 126,079 (380,049)(8,368)1,040,784 
Non-operating items— — — — — 8,368 (2,3)8,368 
Measure of segment profitability (pretax)
$1,016,517 $281,221 $5,384 $126,079 $(380,049)$— 1,049,152 
Realized gains (losses)(26,580)
Legal costs and proceedings(5,764)
Non-operating expenses(2,604)
Income before income taxes per Condensed Consolidated Statements of Operations
$1,014,204 
(1)Administrative expense is not allocated to insurance segments.
(2)Non-operating expenses.
(3)Legal costs and proceedings.
Nine Months Ended September 30, 2023
LifeHealthAnnuityInvestmentCorporate & OtherAdjustmentsConsolidated
Revenue:
Premium$2,342,429 $982,916 $— $— $— $— $3,325,345 
Net investment income— — — 785,275 — — 785,275 
Other income— — — — 185 — 185 
Total revenue2,342,429 982,916 — 785,275 185 — 4,110,805 
Expenses:
Policy obligations1,536,317 580,676 21,502 5,986 — — 2,144,481 
Required interest on reserves(575,801)(79,603)(29,327)684,731 — — — 
Amortization of acquisition costs243,285 37,608 1,266 — — — 282,159 
Commissions, premium taxes, and non-deferred acquisition costs251,136 163,784 13 — — — 414,933 
Insurance administrative expense(1)
— — — — 223,951 — 223,951 
Parent expense— — — — 8,254 1,137 (2)9,391 
Stock-based compensation expense— — — — 22,732 — 22,732 
Interest expense— — — — 76,640 — 76,640 
Total expenses1,454,937 702,465 (6,546)690,717 331,577 1,137 3,174,287 
Subtotal887,492 280,451 6,546 94,558 (331,392)(1,137)936,518 
Non-operating items— — — — — 1,137 (2)1,137 
Measure of segment profitability (pretax)
$887,492 $280,451 $6,546 $94,558 $(331,392)$— 937,655 
Realized gains (losses)(78,963)
Non-operating expenses(1,137)
Income before income taxes per Condensed Consolidated Statements of Operations
$857,555 
(1)Administrative expense is not allocated to insurance segments.
(2)Non-operating expenses.