Globe Life Inc. (GL) financial statements (2022 and earlier)

Company profile

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

Balance sheet (Statement of financial position) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments161203114184246148116
Cash and cash equivalents9295761211197661
Short-term investments6910838631277255
Total current assets:161203114184246148116
Noncurrent Assets
Property, plant and equipment2051861611351089783
Long-term investments and receivables7945473262071095437
Long-term investments7945473262071095437
Intangible assets, net (including goodwill)482442442442442442442
Goodwill482442442442442442442
Deferred costs    1,2801,2501,210
Total noncurrent assets:1,4811,1759297841,9381,8421,771
Other undisclosed assets28,12627,67024,93422,12821,29119,44517,966
TOTAL ASSETS:29,76829,04725,97723,09623,47521,43619,853
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt629255308315332266490
Total current liabilities:629255308315332266490
Noncurrent Liabilities
Long-term debt and lease obligation1,5461,6681,3491,3571,1321,133 
Long-term debt, excluding current maturities1,5461,6681,3491,3571,1321,133 
Total noncurrent liabilities:1,5461,6681,3491,3571,1321,133 
Other undisclosed liabilities18,94918,35317,02616,00915,77915,47015,308
Total liabilities:21,12520,27618,68317,68117,24416,86915,798
Stockholders' equity
Stockholders' equity attributable to parent8,6438,7717,2945,4156,2314,5674,056
Common stock109113117121124127130
Treasury stock, value(847)(773)(751)(763)(632)(519)(403)
Additional paid in capital521527532524508490482
Accumulated other comprehensive income2,6783,0291,8453191,424578232
Retained earnings6,1825,8745,5515,2134,8063,8913,614
Total stockholders' equity:8,6438,7717,2945,4156,2314,5674,056
TOTAL LIABILITIES AND EQUITY:29,76829,04725,97723,09623,47521,43619,853

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues5,1134,7384,5284,3044,1563,9353,766
Premiums earned, net4,1003,8143,5953,422
Net investment income952927910883848807774
Financial services revenue3,2833,1372,999
Cost of revenue(3,463)(3,149)(2,909)(2,792)(2,718)(2,598)(2,462)
Policyholder benefits and claims incurred, net(2,860)(2,573)(2,357)(2,275)
Deferred policy acquisition costs, amortization expense(604)(576)(552)(517)(490)(469)(446)
Financial services costs(2,228)(2,129)(2,016)
Other undisclosed gross profit(796)(688)(708)(646)(630)(554)(529)
Gross profit:853901911865807783775
Other undisclosed operating income12495   
Operating income:865905920871807783775
Nonoperating income (expense)
(Investment Income, Nonoperating)
(21)(18)(16)(16)9(24)(21)
Interest and debt expense(9)(1)(84)(11)(85)(83)(77)
Other undisclosed income from continuing operations before equity method investments, income taxes 1011220999789
Income from continuing operations before equity method investments, income taxes:835897931864831772766
Other undisclosed income from continuing operations before income taxes78      
Income from continuing operations before income taxes:912897931864831772766
Income tax expense (benefit)(167)(165)(170)(162)628(233)(250)
Net income:7457327617021,458540516
Other undisclosed net income (loss) attributable to parent  (0)(0)(4)1011
Net income available to common stockholders, diluted:7457327617011,454550527

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:7457327617021,458540516
Other comprehensive income (loss)(447)1,4981,933(1,105)594346(766)
Comprehensive income (loss):2982,2292,694(403)2,053885(249)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent95(313)(408)(0)(4)1011
Comprehensive income (loss), net of tax, attributable to parent:3931,9162,286(403)2,049895(238)

Statements sources

The financial statements are based on the company's filings with the 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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