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Schedule II. Condensed Financial Information of Registrant
 12 Months Ended
Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract]  
Schedule II. Condensed Financial Information of Registrant
Globe Life Inc.
(PARENT COMPANY)
SCHEDULE II. CONDENSED FINANCIAL INFORMATION OF REGISTRANT
Condensed Balance Sheets
(Dollar amounts in thousands)
December 31,
20242023
Assets:
Investments:
Long-term investments$39,404 $42,360 
Short-term investments29,005 1,005 
Total investments68,409 43,365 
Cash66,770 1,003 
Investment in affiliates7,740,073 6,539,183 
Due from affiliates278,301 105,279 
Taxes receivable from affiliates15,202 14,163 
Other assets193,363 181,443 
Total assets$8,362,118 $6,884,436 
Liabilities:
Short-term debt$415,401 $486,113 
Long-term debt2,473,874 1,779,137 
Due to affiliates52,568 — 
Other liabilities114,755 132,383 
Total liabilities3,056,598 2,397,633 
Shareholders’ equity:
Preferred stock351 351 
Common stock97,218 102,218 
Additional paid-in capital878,306 882,985 
Accumulated other comprehensive income(2,029,720)(2,772,419)
Retained earnings8,002,521 7,478,813 
Treasury stock(1,643,156)(1,205,145)
Total shareholders’ equity5,305,520 4,486,803 
Total liabilities and shareholders’ equity$8,362,118 $6,884,436 
 














See Notes to Consolidated Financial Statements and accompanying Report of Independent Registered
Public Accounting Firm.
Globe Life Inc.
(PARENT COMPANY)
SCHEDULE II. CONDENSED FINANCIAL INFORMATION OF REGISTRANT (continued)
Condensed Statement of Operations
(Dollar amounts in thousands)
 Year Ended December 31,
 202420232022
Net investment income$38,341 $36,237 $33,664 
Realized gains (losses)4,158 5,924 (9,643)
Total revenue
42,499 42,161 24,021 
General operating expenses75,387 59,051 59,307 
Reimbursements from affiliates(53,136)(59,796)(51,312)
Interest expense125,023 107,180 97,051 
Total expenses
147,274 106,435 105,046 
Operating income (loss) before income taxes and equity in earnings of affiliates(104,775)(64,274)(81,025)
Income tax benefit
19,832 10,706 12,426 
Net operating loss before equity in earnings of affiliates(84,943)(53,568)(68,599)
Equity in earnings of affiliates, net of tax1,155,705 1,024,323 962,985 
Net income
1,070,762 970,755 894,386 
Other comprehensive income (loss):
Attributable to Parent Company21,326 1,113 75,076 
Attributable to affiliates721,373 16,781 1,369,659 
Comprehensive income (loss)$1,813,461 $988,649 $2,339,121 
 
























See Notes to Consolidated Financial Statements and accompanying Report of Independent Registered
Public Accounting Firm.
Globe Life Inc.
(PARENT COMPANY)
SCHEDULE II. CONDENSED FINANCIAL INFORMATION OF REGISTRANT (continued)
Condensed Statement of Cash Flows
(Dollar amounts in thousands)
 Year Ended December 31,
 202420232022
Net income$1,070,762 $970,755 $894,386 
Equity in earnings of affiliates(1,155,705)(1,024,323)(962,985)
Cash dividends from subsidiaries692,690 459,535 407,042 
Other, net55,243 33,846 26,444 
Cash provided from operations
662,990 439,813 364,887 
Cash provided from (used for) investing activities:
Net decrease (increase) in short-term investments(28,000)13,996 (15,001)
Investment in subsidiaries(12)— (10,010)
Acquisition of investments(2,850)(3,950)(2,000)
Disposition of investments1 — — 
Loaned money to affiliates(557,016)(479,629)(846,002)
Repayments from affiliates394,925 505,929 886,002 
Additions to properties(19,147)(7,400)— 
Cash provided from (used for) investing activities
(212,099)28,946 12,989 
Cash provided from (used for) financing activities:
Repayment of debt— (165,612)(300,000)
Proceeds from issuance of debt530,000 170,000 400,000 
Payment for debt issuance costs(7,253)(757)(5,272)
Net change in commercial paper held less than 90 days(13,878)32,961 (46,289)
Proceeds from commercial paper with original maturities greater than 90 days484,726 — — 
Repayment of commercial paper with original maturities greater than 90 days(372,011)— — 
Issuance of stock51,756 114,080 111,970 
Acquisitions of treasury stock(1,002,109)(511,100)(454,638)
Borrowed money from affiliate349,000 290,500 22,400 
Repayments to affiliates(296,600)(290,500)(22,400)
Payment of dividends(108,755)(107,386)(103,817)
Cash provided from (used for) financing activities
(385,124)(467,814)(398,046)
Net increase (decrease) in cash65,767 945 (20,170)
Cash balance at beginning of period1,003 58 20,228 
Cash balance at end of period$66,770 $1,003 $58 
 







See Notes to Consolidated Financial Statements and accompanying Report of Independent Registered
Public Accounting Firm.
Globe Life Inc.
(PARENT COMPANY)
SCHEDULE II. CONDENSED FINANCIAL INFORMATION OF REGISTRANT (continued)
Notes to Condensed Financial Statements
(Dollar amounts in thousands)
 
Note A—Dividends from Subsidiaries
 
Cash dividends paid to Globe Life from the subsidiaries were as follows:
Year Ended December 31,
202420232022
Dividends from subsidiaries$692,690 $459,535 $407,042 
 
Note B—Supplemental Disclosures of Cash Flow Information
 
The following table summarizes non-cash transactions, which are not reflected on the Consolidated Statements of Cash Flows:
 Year Ended December 31,
 202420232022
Stock-based compensation not involving cash$40,118 $30,736 $35,650 

 The following table summarizes certain amounts paid (received) during the period:
 Year Ended December 31,
 202420232022
Interest paid$114,459 $104,493 $96,903 
Income taxes paid (received)(13,126)(10,408)(11,537)
 
Note C—Preferred Stock
 
As of December 31, 2024, Globe Life had 351 thousand shares of Cumulative Preferred Stock, Series A, issued and outstanding, of which 280 thousand shares were 6.50% Cumulative Preferred Stock, Series A, and 71 thousand shares were 7.15% Cumulative Preferred Stock, Series A (collectively, the “Series A Preferred Stock”). All issued and outstanding shares of Series A Preferred Stock were held by wholly-owned insurance subsidiaries. In the event of liquidation, the holders of the Series A Preferred Stock at the time outstanding would be entitled to receive a liquidating distribution out of the assets legally available to stockholders in the amount of $1 thousand per share or $351 million in the aggregate, plus any accrued and unpaid dividends, before any distribution is made to holders of Globe Life common stock. Holders of Series A Preferred Stock do not have any voting rights nor have rights to convert such shares into shares of any other class of Globe Life capital stock.
 
 















See accompanying Report of Independent Registered Public Accounting Firm.