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Schedule II. Condensed Financial Information of Registrant
 12 Months Ended
Dec. 31, 2025
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,
20252024
Assets:
Investments:
Long-term investments$32,677 $39,404 
Short-term investments28,006 29,005 
Total investments60,683 68,409 
Cash62,865 66,770 
Investment in affiliates8,541,107 7,740,073 
Due from affiliates68,127 278,301 
Taxes receivable from affiliates4,310 15,202 
Other assets212,355 193,363 
Total assets$8,949,447 $8,362,118 
Liabilities and shareholders’ equity:
Liabilities:
Short-term debt$304,656 $415,401 
Long-term debt2,470,459 2,473,874 
Due to affiliates36,370 52,568 
Other liabilities163,383 114,755 
Total liabilities2,974,868 3,056,598 
Shareholders’ equity:
Preferred stock351 351 
Common stock92,218 97,218 
Additional paid-in capital886,874 878,306 
Accumulated other comprehensive income(1,771,444)(2,029,720)
Retained earnings8,546,807 8,002,521 
Treasury stock(1,780,227)(1,643,156)
Total shareholders’ equity5,974,579 5,305,520 
Total liabilities and shareholders’ equity$8,949,447 $8,362,118 
 













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,
 202520242023
Net investment income$32,889 $38,341 $36,237 
Realized gains (losses)5,793 4,158 5,924 
Total revenue
38,682 42,499 42,161 
General operating expenses94,021 75,387 59,051 
Reimbursements from affiliates(75,504)(53,136)(59,796)
Interest expense147,673 125,023 107,180 
Total expenses
166,190 147,274 106,435 
Operating income (loss) before income taxes and equity in earnings of affiliates(127,508)(104,775)(64,274)
Income tax benefit
16,005 19,832 10,706 
Net operating loss before equity in earnings of affiliates(111,503)(84,943)(53,568)
Equity in earnings of affiliates, net of tax1,272,741 1,155,705 1,024,323 
Net income
1,161,238 1,070,762 970,755 
Other comprehensive income (loss):
Attributable to Parent Company10,539 21,326 1,113 
Attributable to affiliates247,737 721,373 16,781 
Comprehensive income (loss)$1,419,514 $1,813,461 $988,649 
 
























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,
 202520242023
Net income$1,161,238 $1,070,762 $970,755 
Equity in earnings of subsidiaries(1,272,741)(1,155,705)(1,024,323)
Cash dividends from subsidiaries815,741 692,690 459,535 
Other, net79,549 55,243 33,846 
Cash provided from operations
783,787 662,990 439,813 
Cash provided from (used for) investing activities:
Net decrease (increase) in short-term investments999 (28,000)13,996 
Investment in subsidiaries(66,300)(12)— 
Acquisition of investments— (2,850)(3,950)
Disposition of investments— 1 — 
Loaned money to affiliates(365,382)(557,016)(479,629)
Repayments from affiliates614,960 394,925 505,929 
Additions to properties(353)(19,147)(7,400)
Cash provided from (used for) investing activities
183,924 (212,099)28,946 
Cash provided from (used for) financing activities:
Repayment of debt— — (165,612)
Proceeds from issuance of debt— 530,000 170,000 
Payment for debt issuance costs(6,399)(7,253)(757)
Net change in commercial paper held less than 90 days102,638 (13,878)32,961 
Proceeds from commercial paper with original maturities greater than 90 days487,610 484,726 — 
Repayment of commercial paper with original maturities greater than 90 days(700,993)(372,011)— 
Issuance of stock164,448 51,756 114,080 
Acquisitions of treasury stock(880,983)(1,002,109)(511,100)
Borrowed money from affiliate312,000 349,000 290,500 
Repayments to affiliates(340,600)(296,600)(290,500)
Payment of dividends(109,337)(108,755)(107,386)
Cash provided from (used for) financing activities
(971,616)(385,124)(467,814)
Net increase (decrease) in cash(3,905)65,767 945 
Cash balance at beginning of period66,770 1,003 58 
Cash balance at end of period$62,865 $66,770 $1,003 
 







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,
202520242023
Dividends from subsidiaries$815,741 $692,690 $459,535 
 
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,
 202520242023
Stock-based compensation not involving cash$53,355 $40,118 $30,736 
Investment in subsidiaries640,065 — — 
Dividends from subsidiaries
640,065 — — 

 The following table summarizes certain amounts paid (received) during the period:
 Year Ended December 31,
 202520242023
Interest paid$150,019 $114,459 $104,493 
Income taxes paid (received)(21,033)(13,126)(10,408)
 
Note C—Preferred Stock
 
As of December 31, 2025, 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.