Business Segments (Tables)

3 Months Ended

Mar. 31, 2025

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 March 31, 2025
	Life			Health			Total
Distribution Channel	Amount		% of Total	Amount		% of Total		Amount		% of Total
American Income	$	437,866	53	$	30,691	8		$	468,557	39
Direct to Consumer	245,600		30	18,976		5		264,576		22
Liberty National	96,182		11	47,922		13		144,104		12
United American	1,592		—	159,848		43		161,440		13
Family Heritage	1,726		—	112,354		31		114,080		10
Other	46,897		6	—		—		46,897		4
	$	829,863	100	$	369,791	100		$	1,199,654	100


	Three Months Ended March 31, 2024
	Life			Health			Total
Distribution Channel	Amount		% of Total	Amount		% of Total		Amount		% of Total
American Income	$	414,044	52	$	30,497	9		$	444,541	39
Direct to Consumer	248,040		31	17,866		5		265,906		23
Liberty National	90,777		11	47,630		14		138,407		12
United American	1,843		—	141,635		42		143,478		13
Family Heritage	1,616		—	103,391		30		105,007		9
Other	47,945		6	—		—		47,945		4
	$	804,265	100	$	341,019	100		$	1,145,284	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 March 31, 2025
	Life		Health		Investment		Consolidated
Revenue:
Premium	$	829,863	$	369,791	$	—	$	1,199,654
Net investment income	—		—		280,614		280,614
Segment revenue	829,863		369,791		280,614		1,480,268
Realized gains (losses)							85
Other income							69
Total consolidated revenue							$	1,480,422

Expenses:
Policy obligations(1)	509,756		233,929		5,394		$	749,079
Required interest on reserves	(208,536)		(28,286)		239,350		2,528
Amortization of acquisition costs	90,633		14,519		—		105,152
Commissions	45,567		42,887		—		88,454
Premium taxes	18,011		7,493		—		25,504
Non-deferred acquisition costs	37,168		14,528		—		51,696

Segment profit or (loss)	$	337,264	$	84,721	$	35,870	457,855

Insurance administrative expenses:
Salaries							33,688
Other employee costs							10,301
Information technology costs							20,936
Legal costs							6,249
Other administrative costs							16,375
Parent expense							3,050
Stock-based compensation expense							12,019
Interest expense							34,992
Legal proceedings							6,128
Non-operating expenses							—
Annuity							(1,810)
Total expenses							1,164,341

Income before income taxes per Condensed Consolidated Statement of Operations							$	316,081

(1)Policy obligations are based upon policyholder behavior and impacts related to lapses, mortality, and morbidity. For detailed information, including remeasurement gains and losses, see Note 6—Policy Liabilities.


	Three Months Ended March 31, 2024
	Life		Health		Investment		Consolidated
Revenue:
Premium	$	804,265	$	341,019	$	—	$	1,145,284
Net investment income	—		—		282,578		282,578
Segment revenue	804,265		341,019		282,578		1,427,862
Realized gains (losses)							(11,799)
Other income							76
Total consolidated revenue							$	1,416,139

Expenses:
Policy obligations(1)	519,871		202,327		3,468		$	725,666
Required interest on reserves	(199,707)		(27,173)		235,325		8,445
Amortization of acquisition costs	85,768		13,311		—		99,079
Commissions	38,690		39,149		—		77,839
Premium taxes	17,086		6,816		—		23,902
Non-deferred acquisition costs	33,546		12,819		—		46,365

Segment profit or (loss)	$	309,011	$	93,770	$	43,785	446,566

Insurance administrative expenses:
Salaries							31,174
Other employee costs							10,013
Information technology costs							18,307
Legal costs							5,273
Other administrative costs							15,644
Parent expense							2,826
Stock-based compensation expense							9,267
Interest expense							28,621
Legal proceedings							—
Non-operating expenses							710
Annuity							(1,915)
Total expenses							1,101,216

Income before income taxes per Condensed Consolidated Statement of Operations							$	314,923

Schedule of Assets by Segment

The tables below reconcile segment assets to total assets as reported on the Condensed Consolidated Balance Sheets.

Assets by Segment


	March 31, 2025
	Life		Health		Investment		Consolidated
Cash and invested assets	$	—	$	—	$	20,242,276	$	20,242,276
Accrued investment income	—		—		287,562		287,562
Deferred acquisition costs	5,814,820		807,773		—		6,622,593
Goodwill	309,609		180,837		—		490,446

Total segment assets	$	6,124,429	$	988,610	$	20,529,838	27,642,877

Annuity and other corporate							2,062,382
Total assets							$	29,705,259


	December 31, 2024
	Life		Health		Investment		Consolidated
Cash and invested assets	$	—	$	—	$	19,736,888	$	19,736,888
Accrued investment income	—		—		269,791		269,791
Deferred acquisition costs	5,700,755		793,421		—		6,494,176
Goodwill	309,609		180,837		—		490,446

Total segment assets	$	6,010,364	$	974,258	$	20,006,679	26,991,301

Annuity and other corporate							2,084,880
Total assets							$	29,076,181