v3.26.1
Postretirement Benefits
 3 Months Ended
Mar. 31, 2026
Retirement Benefits [Abstract]  
Postretirement Benefits
Note 9—Postretirement Benefits

Globe Life has qualified noncontributory defined benefit pension plans (the "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 March 31, 2026 and December 31, 2025.
Pension Assets by Component at March 31, 2026

 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)
$52,641 $— $— $52,641 8 
Equity exchange traded fund(1)
328,164 — — 328,164 50 
U.S. Government and Agency— 180,553 — 180,553 27 
Other bonds— 3 — 3 — 
Guaranteed annuity contract(2)
— 46,454 — 46,454 7 
Short-term investments2,620 — — 2,620 — 
Other1,127 — — 1,127 — 
$384,552 $227,010 $— 611,562 92 
Other long-term investments(3)
48,519 8 
Total pension assets
$660,081 100 
(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 March 31, 2026, the Globe Life Inc. Pension Plan owned less than 1% of three 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, 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)
$53,437 $— $— $53,437 8 
Equity exchange traded fund(1)
344,409 — — 344,409 50 
U.S. Government and Agency— 180,974 — 180,974 26 
Other bonds— 3 — 3 — 
Guaranteed annuity contract(2)
— 46,341 — 46,341 7 
Short-term investments6,957 — — 6,957 1 
Other3,747 — — 3,747 1 
$408,550 $227,318 $— 635,868 93 
Other long-term investments(3)
48,411 7 
Total pension assets
$684,279 100 
(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, 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.
SERP: The following tables include premiums paid for COLI at March 31, 2026 and 2025 and investments of the Rabbi Trust at March 31, 2026 and December 31, 2025.
March 31,
2026		December 31,
2025
Total investments:
COLI
$59,479 $59,008 
Exchange traded funds107,023 111,470 
$166,502 $170,478 
Pension Plans and SERP Liabilities: The following table presents liabilities for the defined benefit pension plans and SERP at March 31, 2026 and December 31, 2025.
March 31,
2026		December 31,
2025
Pension Plans$579,330 $597,695 
SERP79,449 79,093 
Benefit obligation
$658,779 $676,788 
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 month periods ended March 31, 2026 and 2025.

Components of Net Periodic Benefit Cost
Three Months Ended
March 31,
 20262025
Service cost—benefits earned during the period$6,837 $6,242 
Interest cost on projected benefit obligation9,611 9,025 
Expected return on assets(12,338)(11,563)
Amortization:
Prior service cost252 292 
Actuarial (gain) loss— — 
Net periodic benefit cost
$4,362 $3,996