v3.25.2
Postretirement Benefits
 6 Months Ended
Jun. 30, 2025
Retirement Benefits [Abstract]  
Postretirement Benefits
Note 9—Postretirement Benefits

Globe Life has qualified noncontributory defined benefit pension plans (Pension Plans) and contributory savings plans that cover substantially all employees. There is also a nonqualified noncontributory supplemental executive retirement plan (SERP) that covers a limited number of officers. The tables included herein will focus on the Pension Plans and SERP.
Pension Assets: The following table presents the assets of the Company's Pension Plans at June 30, 2025 and December 31, 2024.
Pension Assets by Component at June 30, 2025

 Fair Value Determined by:  
 
Quoted Prices in
Active Markets
for Identical
Assets (Level 1)
Significant
Observable
Inputs (Level 2)
Significant
Unobservable
Inputs (Level 3)
Total
Amount
% of
Total
Exchange traded fund(4)
$36,015 $— $— $36,015 6 
Equity exchange traded fund(1)
328,993 — — 328,993 53 
U.S. Government and Agency— 180,413 — 180,413 29 
Other bonds— 3 — 3 — 
Guaranteed annuity contract(2)
— 44,139 — 44,139 7 
Short-term investments183 — — 183 — 
Other2,697 — — 2,697 — 
$367,888 $224,555 $— 592,443 95 
Other long-term investments(3)
33,962 5 
Total pension assets
$626,405 100 
(1)A fund including marketable securities that mirror the S&P 500 index.
(2)Representing a guaranteed annuity contract issued by Globe Life Inc.'s subsidiary, American Income Life Insurance Company, to fund the obligations of the American Income Life Insurance Company Collective Bargaining Agreement Employees Pension Plan.
(3)Includes non-redeemable investment funds that report the Globe Life Inc. Pension Plan's pro-rata share of the limited partnership's net asset value (NAV) per share, or its equivalent, as a practical expedient for fair value. As of June 30, 2025, the Globe Life Inc. Pension Plan owned less than 1% of two long-term investment funds.
(4)A fund including U.S. dollar-denominated investment-grade securities issued by industrial, utility, and financial companies with maturities greater than 10 years.
Pension Assets by Component at December 31, 2024
 Fair Value Determined by:  

Quoted Prices in
Active Markets
for Identical
Assets (Level 1)
Significant
Observable
Inputs (Level 2)
Significant
Unobservable
Inputs (Level 3)
Total
Amount
% of
Total
Exchange traded fund(4)
$35,483 $— $— $35,483 6 
Equity exchange traded fund(1)
322,846 — — 322,846 53 
U.S. Government and Agency— 179,418 — 179,418 29 
Other bonds— 4 — 4 — 
Guaranteed annuity contract(2)
— 43,893 — 43,893 7 
Short-term investments1,235 — — 1,235 — 
Other1,420 — — 1,420 — 
$360,984 $223,315 $— 584,299 95 
Other long-term investments(3)
30,546 5 
Total pension assets
$614,845 100 
(1)A fund including marketable securities that mirror the S&P 500 index.
(2)Representing a guaranteed annuity contract issued by Globe Life Inc.'s subsidiary, American Income Life Insurance Company, to fund the obligations of the American Income Life Insurance Company Collective Bargaining Agreement Employees Pension Plan.
(3)Includes non-redeemable investment funds that report the Globe Life Inc. Pension Plan's pro-rata share of the limited partnership's net asset value (NAV) per share, or its equivalent, as a practical expedient for fair value. As of December 31, 2024, the Globe Life Inc. Pension Plan owned less than 1% of two long-term investment funds.
(4)A fund including U.S. dollar-denominated investment-grade securities issued by industrial, utility, and financial companies with maturities greater than 10 years.
SERP: The following tables include premiums paid for COLI at June 30, 2025 and 2024 and investments of the Rabbi Trust at June 30, 2025 and December 31, 2024.
Six Months Ended
June 30,
20252024
Premiums paid for insurance coverage$— $443 
June 30,
2025		December 31,
2024
Total investments:
COLI
$58,126 $57,210 
Exchange traded funds100,721 98,314 
$158,847 $155,524 
Pension Plans and SERP Liabilities: The following table presents liabilities for the defined benefit pension plans and SERP at June 30, 2025 and December 31, 2024.
June 30,
2025		December 31,
2024
Pension Plans$577,844 $561,615 
SERP73,920 73,441 
Benefit obligation
$651,764 $635,056 
Net Periodic Benefit Cost: The following table presents the net periodic benefit costs for the defined benefit pension plans and SERP by expense components for the three and six month periods ended June 30, 2025 and 2024.

Components of Net Periodic Benefit Cost
Three Months Ended
June 30,		Six Months Ended
June 30,
 2025202420252024
Service cost—benefits earned during the period$6,243 $6,228 $12,485 $12,449 
Interest cost on projected benefit obligation9,024 8,308 18,049 16,575 
Expected return on assets(11,563)(10,647)(23,126)(21,293)
Amortization:
Prior service cost292 269 584 538 
Actuarial (gain) loss— 6 — 12 
Net periodic benefit cost
$3,996 $4,164 $7,992 $8,281