Globe Life Inc. (GL) Financial Statements (2024 and earlier)

Company Profile

Business Address 3700 SOUTH STONEBRIDGE DRIVE
MCKINNEY, TX 75070
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 6311 - Life Insurance (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments185207161203114184
Cash and cash equivalents10393929576121
Short-term investments82114691083863
Total current assets:185207161203114184
Noncurrent Assets
Property, plant and equipment 240212205186161135
Long-term investments and receivables836976794547326207
Long-term investments836976794547326207
Intangible assets, net (including goodwill)482482482442442442
Goodwill482482482442442442
Total noncurrent assets:1,5581,6701,4811,175929784
Other undisclosed assets26,30923,66128,12627,67024,93422,128
TOTAL ASSETS:28,05125,53729,76829,04725,97723,096
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt486615629255308315
Total current liabilities:486615629255308315
Noncurrent Liabilities
Long-term debt and lease obligation1,6301,6281,5461,6681,3491,357
Long-term debt, excluding current maturities1,6301,6281,5461,6681,3491,357
Total noncurrent liabilities:1,6301,6281,5461,6681,3491,357
Other undisclosed liabilities21,44918,39918,94918,35317,02616,009
Total liabilities:23,56520,64121,12520,27618,68317,681
Equity
Equity, attributable to parent4,4874,8968,6438,7717,2945,415
Common stock102105109113117121
Treasury stock, value(854)(790)(847)(773)(751)(763)
Additional paid in capital532530521527532524
Accumulated other comprehensive income (loss)(2,772)(1,416)2,6783,0291,845319
Retained earnings7,4796,4666,1825,8745,5515,213
Total equity:4,4874,8968,6438,7717,2945,415
TOTAL LIABILITIES AND EQUITY:28,05125,53729,76829,04725,97723,096

Income Statement (P&L) ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues5,4485,2155,1134,7384,5284,304
Premiums earned, net4,4564,3034,1003,8143,5953,422
Net investment income1,057987952927910883
Cost of revenue(3,244)(3,490)(3,463)(3,149)(2,909)(2,792)
Policyholder benefits and claims incurred, net(2,864)(2,865)(2,860)(2,573)(2,357)(2,275)
Deferred policy acquisition costs, amortization expense(380)(624)(604)(576)(552)(517)
Other undisclosed gross profit(944)(742)(796)(688)(708)(646)
Gross profit:1,260983853901911865
Other undisclosed operating income5812495
Operating income:1,265991865905920871
Nonoperating expense
(Investment Income, Nonoperating)
(17)(22)(21)(18)(16)(16)
Interest and debt expense(102)(90)(9)(1)(84)(11)
Other undisclosed income from continuing operations before equity method investments, income taxes    1011220
Income from continuing operations before equity method investments, income taxes:1,145878835897931864
Other undisclosed income from continuing operations before income taxes492878   
Income from continuing operations before income taxes:1,194906912897931864
Income tax expense(224)(167)(167)(165)(170)(162)
Income from continuing operations:971740745732761702
Income before gain (loss) on sale of properties:745732761702
Net income:971740745732761702
Other undisclosed net loss attributable to parent     (0)(0)
Net income available to common stockholders, diluted:971740745732761701

Comprehensive Income ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:971740745732761702
Other comprehensive income (loss)755(5,191)(447)1,4981,933(1,105)
Comprehensive income (loss):1,725(4,451)2982,2292,694(403)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(737)1,09895(313)(408)(0)
Comprehensive income (loss), net of tax, attributable to parent:989(3,354)3931,9162,286(403)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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