XML 94 R2.htm IDEA: XBRL DOCUMENT v3.26.1
Pay vs Performance Disclosure
 12 Months Ended
Dec. 31, 2025
USD ($)
$ / shares
Dec. 31, 2024
USD ($)
$ / shares
Dec. 31, 2023
USD ($)
$ / shares
Dec. 31, 2022
USD ($)
$ / shares
Dec. 31, 2021
USD ($)
$ / shares
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
The following information is intended to show the relationship between the executive compensation actually paid by our Company and our financial performance.
Year
Summary Compensation Table Total for PEO-11
($)
Summary Compensation Table Total for PEO-21
($)
Compensation Actually Paid to PEO-12
($)
Compensation Actually Paid to PEO-22
($)
Average Summary Compensation Table Total for Non-PEO Named Executive Officers2,3
($)
Average Compensation Actually Paid to Non-PEO Named Executive Officers2,3
($)
Value of Initial Fixed $100 Investment
 Based On:
Net Income
(in 000s)
($)6
Operating EPS
($)6
Total Shareholder Return
 ($)4
Peer Group Total
Shareholder
Return
   ($)4,5
20259,453,9359,065,86415,976,15215,988,8203,630,6925,574,3101542011,161,23814.52
20248,727,2988,459,1668,325,9368,130,6063,137,0682,871,3911211901,070,76212.37
20237,206,0716,860,8965,959,0916,043,4092,860,8232,177,294131158970,75510.65
20228,905,4198,871,21719,165,33319,247,5383,081,2956,745,194129151894,3869.71
20218,353,7548,323,6666,084,8196,060,0502,906,8772,237,0941001371,031,1149.63
        
Named Executive Officers, Footnote Amounts shown are reported in the Summary Compensation Table (SCT) for the Principal Executive Officers (PEOs), Frank M. Svoboda (PEO-1) and J. Matthew Darden (PEO-2). Effective January 1, 2023, Messrs. Svoboda and Darden succeeded Gary L. Coleman and Larry M. Hutchinson as the Company's Co-CEOs and were designated as the PEOs for 2023 to 2025. Messrs. Coleman and Hutchison were included as PEO-1 and PEO-2 for the years 2021 through 2022. 3 Amounts shown represent the total average reported in the Summary Compensation Table for the Non-PEO NEOs. The Company’s Non-PEO NEOs for 2023 to 2025 were Thomas P. Kalmbach, Michael C. Majors, R. Brian Mitchell, and Robert E. Hensley. For 2021 and 2022, the Non-PEO NEOs were Messrs. Svoboda, Darden, Majors, and Steven K. Greer.        
Peer Group Issuers, Footnote
5 The Company’s peer group consists of the Standard & Poor’s (S&P) Life and Health Insurance Index and is set forth in Part II, Item 5 of the Form 10-K for the fiscal year ended December 31, 2025.
        
Adjustment To PEO Compensation, Footnote
2 Amounts shown represent compensation actually paid (CAP) and include adjustments for changes in the fair value of performance share awards, stock option awards and restricted stock unit awards, as well as adjustments for the aggregate change in the actuarial present value of accumulated benefits and actuarially-determined service costs for services rendered under all defined benefit and actuarial pension plans reported in the SCT for Messrs. Svoboda (PEO-1) and Darden (PEO-2) for 2023 to 2025; for Messrs. Coleman (PEO-1) and Hutchinson (PEO-2) for 2021 to 2022; and for the average of the Non-PEO Named Executive Officers (NEOs): Thomas P. Kalmbach, Michael C. Majors, R. Brian Mitchell, and Robert E. Hensley for 2023 to 2025; Messrs. Svoboda, Darden, Majors, and Steven K. Greer for 2021 and 2022. To calculate CAP, the following amounts were deducted or added to the SCT Total in the tables below for PEO-1 and PEO-2.
PEO-1
YearSCT Total
($)		Equity Award-related Additions (Deductions) to CAPPension-related Additions (Deductions) to CAPCAP
($)
Adjustment for the Fair Value of Equity Awards as of Year-End
($)		Adjustment for the Change in the Fair Value of the Prior Years' Awards, Unvested as of Year-End
($)		Adjustment for the Change in the Fair Value of the Prior Years' Awards that Vested during the Year
($)		Adjustment for the Aggregate Change in the Present Value of the Accumulated Benefit under the Pension Plans
($)		Adjustment for the Service Cost
($)
20259,453,935478,6715,194,5501,412,336(728,437)165,09715,976,152
20248,727,298(1,235,456)199,498821,419(368,244)181,4218,325,936
20237,206,071504(487,847)(216,287)(733,218)189,8685,959,091
20228,905,4193,119,5606,499,470692,092(51,208)19,165,333
20218,353,754(321,200)(1,700,782)(309,130)62,1776,084,819
PEO-2
YearSCT Total
($)		Equity Award-related Additions (Deductions) to CAPPension-related Additions (Deductions) to CAPCAP
($)
Adjustment for the Fair Value of Equity Awards as of Year-End
($)		Adjustment for the Change in the Fair Value of the Prior Years' Awards, Unvested as of Year-End
($)		Adjustment for the Change in the Fair Value of the Prior Years' Awards that Vested during the Year
($)		Adjustment for the Aggregate Change in the Present Value of the Accumulated Benefit under the Pension Plans
($)		Adjustment for the Service Cost
($)
20259,065,864478,6715,194,5501,412,336(331,208)168,60715,988,820
20248,459,166(1,235,456)199,498681,413(138,054)164,0398,130,606
20236,860,896504(433,019)(153,923)(399,676)168,6276,043,409
20228,871,2173,119,5606,499,470692,09265,19919,247,538
20218,323,666(321,200)(1,700,782)(309,130)67,4966,060,050
        
Non-PEO NEO Average Total Compensation Amount $ 3,630,692 $ 3,137,068 $ 2,860,823 $ 3,081,295 $ 2,906,877
Non-PEO NEO Average Compensation Actually Paid Amount $ 5,574,310 2,871,391 2,177,294 6,745,194 2,237,094
Adjustment to Non-PEO NEO Compensation Footnote
2 Amounts shown represent compensation actually paid (CAP) and include adjustments for changes in the fair value of performance share awards, stock option awards and restricted stock unit awards, as well as adjustments for the aggregate change in the actuarial present value of accumulated benefits and actuarially-determined service costs for services rendered under all defined benefit and actuarial pension plans reported in the SCT for Messrs. Svoboda (PEO-1) and Darden (PEO-2) for 2023 to 2025; for Messrs. Coleman (PEO-1) and Hutchinson (PEO-2) for 2021 to 2022; and for the average of the Non-PEO Named Executive Officers (NEOs): Thomas P. Kalmbach, Michael C. Majors, R. Brian Mitchell, and Robert E. Hensley for 2023 to 2025; Messrs. Svoboda, Darden, Majors, and Steven K. Greer for 2021 and 2022. To calculate CAP, the following amounts were deducted or added to the SCT Total in the tables below for PEO-1 and PEO-2.
Average Non-PEO NEOs
YearSCT Total
($)		Equity Award-related Additions (Deductions) to CAPPension-related Additions (Deductions) to CAPCAP
($)
Adjustment for the Fair Value of Equity Awards as of Year-End
($)		Adjustment for the Change in the Fair Value of the Prior Years' Awards, Unvested as of Year-End
($)		Adjustment for the Change in the Fair Value of the Prior Years' Awards that Vested during the Year
($)		Adjustment for the Aggregate Change in the Present Value of the Accumulated Benefit under the Pension Plans
($)		Adjustment for the Service Cost
($)
20253,630,692151,4131,622,100715,037(691,111)146,1795,574,310
20243,137,068(387,301)40,932352,764(398,616)126,5442,871,391
20232,860,823889(241,319)(90,722)(445,400)93,0232,177,294
20223,081,2951,102,0602,083,150242,997235,6926,745,194
20212,906,877(98,330)(420,168)(103,374)(289,742)241,8312,237,094
        
Compensation Actually Paid vs. Total Shareholder Return
3087
        
Compensation Actually Paid vs. Net Income
6286
        
Compensation Actually Paid vs. Company Selected Measure
6288
        
Total Shareholder Return Vs Peer Group
3089
        
Tabular List, Table
​
Book Value Per Share, excluding AOCI*
Total Premium
First-Year Collected Premium^
Net Operating Income ROE
Underwriting income
Operating EPS
* For purposes of determining the total performance shares awarded for a given year, the figure is adjusted to include accumulated dividends per share paid over the performance period.
^ Exclusive distribution channels only
        
Total Shareholder Return Amount $ 154 121 131 129 100
Peer Group Total Shareholder Return Amount 201 190 158 151 137
Net Income (Loss) $ 1,161,238 $ 1,070,762 $ 970,755 $ 894,386 $ 1,031,114
Company Selected Measure Amount | $ / shares 14.52 12.37 10.65 9.71 9.63
Additional 402(v) Disclosure
4 Calculated based on $100 invested as of market close on December 31, 2020, including the reinvestment of dividends, for each fiscal year.
6 As a result of the adoption of ASU 2018-12, Financial Services - Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts, net income and operating EPS for 2021 and 2022 have been retrospectively adjusted as of January 1, 2021. Refer to APPENDIX A – Non-GAAP Reconciliation for definitions of non-GAAP measures utilized herein. The Company implemented the standard on January 1, 2023. Refer to the 2023 Form 10-K for additional information.
        
Measure:: 1          
Pay vs Performance Disclosure          
Name Book Value Per Share, excluding AOCI*        
Measure:: 2          
Pay vs Performance Disclosure          
Name Total Premium        
Measure:: 3          
Pay vs Performance Disclosure          
Name First-Year Collected Premium^        
Measure:: 4          
Pay vs Performance Disclosure          
Name Net Operating Income ROE        
Measure:: 5          
Pay vs Performance Disclosure          
Name Underwriting income        
Measure:: 6          
Pay vs Performance Disclosure          
Name Operating EPS        
Svoboda [Member]          
Pay vs Performance Disclosure          
PEO Total Compensation Amount $ 9,453,935 $ 8,727,298 $ 7,206,071    
PEO Actually Paid Compensation Amount $ 15,976,152 $ 8,325,936 $ 5,959,091    
PEO Name Frank M. Svoboda Frank M. Svoboda Frank M. Svoboda    
Darden [Member]          
Pay vs Performance Disclosure          
PEO Total Compensation Amount $ 9,065,864 $ 8,459,166 $ 6,860,896    
PEO Actually Paid Compensation Amount $ 15,988,820 $ 8,130,606 $ 6,043,409    
PEO Name J. Matthew Darden J. Matthew Darden J. Matthew Darden    
Coleman [Member]          
Pay vs Performance Disclosure          
PEO Total Compensation Amount       $ 8,905,419 $ 8,353,754
PEO Actually Paid Compensation Amount       $ 19,165,333 $ 6,084,819
PEO Name       Gary L. Coleman Gary L. Coleman
Hutchinson [Member]          
Pay vs Performance Disclosure          
PEO Total Compensation Amount       $ 8,871,217 $ 8,323,666
PEO Actually Paid Compensation Amount       $ 19,247,538 $ 6,060,050
PEO Name       Larry M. Hutchinson Larry M. Hutchinson
PEO | Svoboda [Member] | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (728,437) $ (368,244) $ (733,218)    
PEO | Svoboda [Member] | Aggregate Pension Adjustments Service Cost          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 165,097 181,421 189,868    
PEO | Svoboda [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 478,671 (1,235,456) 504    
PEO | Svoboda [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 5,194,550 199,498 (487,847)    
PEO | Svoboda [Member] | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1,412,336 821,419 (216,287)    
PEO | Darden [Member] | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (331,208) (138,054) (399,676)    
PEO | Darden [Member] | Aggregate Pension Adjustments Service Cost          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 168,607 164,039 168,627    
PEO | Darden [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 478,671 (1,235,456) 504    
PEO | Darden [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 5,194,550 199,498 (433,019)    
PEO | Darden [Member] | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1,412,336 681,413 (153,923)    
PEO | Coleman [Member] | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount      
PEO | Coleman [Member] | Aggregate Pension Adjustments Service Cost          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount       (51,208) 62,177
PEO | Coleman [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount       3,119,560 (321,200)
PEO | Coleman [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount       6,499,470 (1,700,782)
PEO | Coleman [Member] | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount       692,092 (309,130)
PEO | Hutchinson [Member] | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount      
PEO | Hutchinson [Member] | Aggregate Pension Adjustments Service Cost          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount       65,199 67,496
PEO | Hutchinson [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount       3,119,560 (321,200)
PEO | Hutchinson [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount       6,499,470 (1,700,782)
PEO | Hutchinson [Member] | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount       692,092 (309,130)
Non-PEO NEO | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (691,111) (398,616) (445,400) (289,742)
Non-PEO NEO | Aggregate Pension Adjustments Service Cost          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 146,179 126,544 93,023 235,692 241,831
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 151,413 (387,301) 889 1,102,060 (98,330)
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1,622,100 40,932 (241,319) 2,083,150 (420,168)
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 715,037 $ 352,764 $ (90,722) $ 242,997 $ (103,374)