Business Segments (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of Segment Premium Income by Distribution Channel

The following tables present segment premium revenue by each of Globe Life's distribution channels.


	Premium Income by Distribution Channel

	Three Months Ended June 30, 2025
	Life			Health			Total
Distribution Channel	Amount		% of Total	Amount		% of Total		Amount		% of Total
American Income	$	445,511	53	$	31,422	8		$	476,933	39
Direct to Consumer	246,223		29	19,212		5		265,435		22
Liberty National	97,263		12	47,631		13		144,894		12
United American	1,570		—	163,978		43		165,548		13
Family Heritage	1,796		—	115,856		31		117,652		10
Other	47,181		6	—		—		47,181		4
Total	$	839,544	100	$	378,099	100		$	1,217,643	100


	Premium Income by Distribution Channel

	Three Months Ended June 30, 2024
	Life			Health			Total
Distribution Channel	Amount		% of Total	Amount		% of Total		Amount		% of Total
American Income	$	423,534	52	$	30,721	9		$	454,255	39
Direct to Consumer	248,839		31	18,132		5		266,971		23
Liberty National	92,197		11	47,705		14		139,902		12
United American	1,558		—	149,230		42		150,788		13
Family Heritage	1,645		—	105,855		30		107,500		9
Other	47,709		6	—		—		47,709		4
Total	$	815,482	100	$	351,643	100		$	1,167,125	100






	Six Months Ended June 30, 2025
	Life			Health			Total
Distribution Channel	Amount		% of Total	Amount		% of Total		Amount		% of Total
American Income	$	883,377	53	$	62,113	8		$	945,490	39
Direct to Consumer	491,823		29	38,188		5		530,011		22
Liberty National	193,445		12	95,553		13		288,998		12
United American	3,162		—	323,826		43		326,988		13
Family Heritage	3,522		—	228,210		31		231,732		10
Other	94,078		6	—		—		94,078		4
Total	$	1,669,407	100	$	747,890	100		$	2,417,297	100


	Six Months Ended June 30, 2024
	Life			Health			Total
Distribution Channel	Amount		% of Total	Amount		% of Total		Amount		% of Total
American Income	$	837,578	52	$	61,218	9		$	898,796	39
Direct to Consumer	496,879		31	35,998		5		532,877		23
Liberty National	182,974		11	95,335		14		278,309		12
United American	3,401		—	290,865		42		294,266		13
Family Heritage	3,261		—	209,246		30		212,507		9
Other	95,654		6	—		—		95,654		4
Total	$	1,619,747	100	$	692,662	100		$	2,312,409	100

Schedule of Reconciliation of Segment Operating Information to Consolidated Statement of Operations

The following tables set forth a reconciliation of Globe Life's revenues and operations by segment to its major income statement line items. See Note 1—Significant Accounting Policies for additional information concerning reconciling items of segment profits to pretax income.


	Three Months Ended June 30, 2025
	Life		Health		Investment		Consolidated
Revenue:
Premium	$	839,544	$	378,099	$	—	$	1,217,643
Net investment income	—		—		282,169		282,169
Segment revenue	839,544		378,099		282,169		1,499,812
Realized gains (losses)							(18,574)
Other income							49
Total consolidated revenue							$	1,481,287

Expenses:
Policy obligations(1)	519,355		229,924		5,410		754,689
Required interest on reserves	(211,160)		(28,391)		241,931		2,380
Amortization of acquisition costs	96,201		14,841		—		111,042
Commissions	42,357		41,965		—		84,322
Premium taxes	16,682		7,649		—		24,331
Non-deferred acquisition costs	36,035		14,054		—		50,089

Segment profit or (loss)	$	340,074	$	98,057	$	34,828	472,959

Insurance administrative expenses:
Salaries							34,677
Other employee costs							9,407
Information technology costs							19,555
Legal costs							5,827
Other administrative costs							16,581
Parent expense							3,555
Stock-based compensation expense							14,043
Interest expense							34,885
Legal proceedings							4,648

Annuity							(2,043)
Total expenses							1,167,988

Income before income taxes per Condensed Consolidated Statements of Operations							$	313,299

(1)Policy obligations are based upon policyholder behavior and impacts related to lapses, mortality, and morbidity. For detailed information, including remeasurement gains and losses, see Note 6—Policy Liabilities.


	Three Months Ended June 30, 2024
	Life		Health		Investment		Consolidated
Revenue:
Premium	$	815,482	$	351,643	$	—	$	1,167,125
Net investment income	—		—		285,636		285,636
Segment revenue	815,482		351,643		285,636		1,452,761
Realized gains (losses)							(12,589)
Other income							74
Total consolidated revenue							1,440,246

Expenses:
Policy obligations(1)	518,792		205,423		5,536		729,751
Required interest on reserves	(201,815)		(27,410)		237,309		8,084
Amortization of acquisition costs	87,915		13,611		—		101,526
Commissions	39,698		41,661		—		81,359
Premium taxes	17,200		5,274		—		22,474
Non-deferred acquisition costs	33,369		12,596		—		45,965

Segment profit or (loss)	$	320,323	$	100,488	$	42,791	463,602

Insurance administrative expenses:
Salaries							30,855
Other employee costs							8,063
Information technology costs							20,561
Legal costs							6,889
Other administrative costs							15,828
Parent expense							3,130
Stock-based compensation expense							10,090
Interest expense							31,404
Legal proceedings							2,435
Non-operating expenses							1,257
Annuity							(1,748)
Total expenses							1,117,923

Income before income taxes per Condensed Consolidated Statements of Operations							$	322,323


	Six Months Ended June 30, 2025
	Life		Health		Investment		Consolidated
Revenue:
Premium	$	1,669,407	$	747,890	$	—	$	2,417,297
Net investment income	—		—		562,783		562,783
Segment revenue	1,669,407		747,890		562,783		2,980,080
Realized gains (losses)							(18,489)
Other income							118
Total consolidated revenue							$	2,961,709

Expenses:
Policy obligations(1)	1,029,111		463,853		10,804		1,503,768
Required interest on reserves	(419,696)		(56,677)		481,281		4,908
Amortization of acquisition costs	186,834		29,360		—		216,194
Commissions	87,924		84,852		—		172,776
Premium taxes	34,693		15,142		—		49,835
Non-deferred acquisition costs	73,203		28,582		—		101,785

Segment profit or (loss)	$	677,338	$	182,778	$	70,698	930,814

Insurance administrative expenses:
Salaries							68,365
Other employee costs							19,708
Information technology costs							40,491
Legal costs							12,076
Other administrative costs							32,956
Parent expense							6,605
Stock-based compensation expense							26,062
Interest expense							69,877
Legal proceedings							10,776

Annuity							(3,853)
Total expenses							2,332,329

Income before income taxes per Condensed Consolidated Statement of Operations							$	629,380


	Six Months Ended June 30, 2024
	Life		Health		Investment		Consolidated
Revenue:
Premium	$	1,619,747	$	692,662	$	—	$	2,312,409
Net investment income	—		—		568,214		568,214
Segment revenue	1,619,747		692,662		568,214		2,880,623
Realized gains (losses)							(24,388)
Other income							150
Total consolidated revenue							$	2,856,385

Expenses:
Policy obligations(1)	1,038,663		407,750		9,004		$	1,455,417
Required interest on reserves	(401,522)		(54,583)		472,634		16,529
Amortization of acquisition costs	173,683		26,922		—		200,605
Commissions	78,388		80,810		—		159,198
Premium taxes	34,286		12,090		—		46,376
Non-deferred acquisition costs	66,915		25,415		—		92,330

Segment profit or (loss)	$	629,334	$	194,258	$	86,576	910,168

Insurance administrative expenses:
Salaries							62,029
Other employee costs							18,076
Information technology costs							38,868
Legal costs							12,162
Other administrative costs							31,472
Parent expense							5,956
Stock-based compensation expense							19,357
Interest expense							60,025
Legal proceedings							2,435
Non-operating expenses							1,967
Annuity							(3,663)
Total expenses							2,219,139

Income before income taxes per Condensed Consolidated Statement of Operations							$	637,246

Schedule of Assets by Segment

The tables below reconcile segment assets to total assets as reported on the Condensed Consolidated Balance Sheets.

Assets by Segment


	June 30, 2025
	Life		Health		Investment		Consolidated
Cash and invested assets	$	—	$	—	$	20,164,212	$	20,164,212
Accrued investment income	—		—		271,670		271,670
Deferred acquisition costs	5,931,048		823,082		—		6,754,130
Goodwill	309,609		180,837		—		490,446

Total segment assets	$	6,240,657	$	1,003,919	$	20,435,882	27,680,458

Annuity and other corporate							2,128,890
Total assets							$	29,809,348


	December 31, 2024
	Life		Health		Investment		Consolidated
Cash and invested assets	$	—	$	—	$	19,736,888	$	19,736,888
Accrued investment income	—		—		269,791		269,791
Deferred acquisition costs	5,700,755		793,421		—		6,494,176
Goodwill	309,609		180,837		—		490,446

Total segment assets	$	6,010,364	$	974,258	$	20,006,679	26,991,301

Annuity and other corporate							2,084,880
Total assets							$	29,076,181