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)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments207161203114184246
Cash and cash equivalents93929576121119
Short-term investments114691083863127
Total current assets:207161203114184246
Noncurrent Assets
Property, plant and equipment 212205186161135108
Long-term investments and receivables976794547326207109
Long-term investments976794547326207109
Intangible assets, net (including goodwill)482482442442442442
Goodwill482482442442442442
Deferred costs      1,280
Total noncurrent assets:1,6701,4811,1759297841,938
Other undisclosed assets23,66128,12627,67024,93422,12821,291
TOTAL ASSETS:25,53729,76829,04725,97723,09623,475
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt615629255308315332
Total current liabilities:615629255308315332
Noncurrent Liabilities
Long-term debt and lease obligation1,6281,5461,6681,3491,3571,132
Long-term debt, excluding current maturities1,6281,5461,6681,3491,3571,132
Total noncurrent liabilities:1,6281,5461,6681,3491,3571,132
Other undisclosed liabilities18,39918,94918,35317,02616,00915,779
Total liabilities:20,64121,12520,27618,68317,68117,244
Equity
Equity, attributable to parent4,8968,6438,7717,2945,4156,231
Common stock105109113117121124
Treasury stock, value(790)(847)(773)(751)(763)(632)
Additional paid in capital530521527532524508
Accumulated other comprehensive income (loss)(1,416)2,6783,0291,8453191,424
Retained earnings6,4666,1825,8745,5515,2134,806
Total equity:4,8968,6438,7717,2945,4156,231
TOTAL LIABILITIES AND EQUITY:25,53729,76829,04725,97723,09623,475

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

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues5,2155,1134,7384,5284,3044,156
Premiums earned, net4,3034,1003,8143,5953,422
Net investment income987952927910883848
Financial services revenue3,283
Cost of revenue(3,490)(3,463)(3,149)(2,909)(2,792)(2,718)
Policyholder benefits and claims incurred, net(2,865)(2,860)(2,573)(2,357)(2,275)
Deferred policy acquisition costs, amortization expense(624)(604)(576)(552)(517)(490)
Financial services costs(2,228)
Other undisclosed gross profit(742)(796)(688)(708)(646)(630)
Gross profit:983853901911865807
Other undisclosed operating income812495 
Operating income:991865905920871807
Nonoperating income (expense)
(Investment Income, Nonoperating)
(22)(21)(18)(16)(16)9
Interest and debt expense(90)(9)(1)(84)(11)(85)
Other undisclosed income from continuing operations before equity method investments, income taxes   101122099
Income from continuing operations before equity method investments, income taxes:878835897931864831
Other undisclosed income from continuing operations before income taxes2878    
Income from continuing operations before income taxes:906912897931864831
Income tax expense (benefit)(167)(167)(165)(170)(162)628
Income from continuing operations:7407457327617021,458
Income before gain (loss) on sale of properties:7457327617021,458
Net income:7407457327617021,458
Other undisclosed net loss attributable to parent    (0)(0)(4)
Net income available to common stockholders, diluted:7407457327617011,454

Comprehensive Income ($ in millions)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:7407457327617021,458
Other comprehensive income (loss)(5,191)(447)1,4981,933(1,105)594
Comprehensive income (loss):(4,451)2982,2292,694(403)2,053
Other undisclosed comprehensive income (loss), net of tax, attributable to parent1,09895(313)(408)(0)(4)
Comprehensive income (loss), net of tax, attributable to parent:(3,354)3931,9162,286(403)2,049

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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