GLOBE LIFE INC
For the period ended Dec 31, 2023. Filed Feb 28, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 28, 2024
GL$163.46+1.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Comprehensive Income
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Net income | $970,755 | $894,386 | $1,031,114 |
| Other comprehensive income (loss): | |||
| Investments: | |||
| Unrealized gains (losses) on fixed maturities: | |||
| Unrealized holding gains (losses) arising during period | 671,211 | (5,332,818) | (492,267) |
| Other reclassification adjustments included in net income | 80,238 | 32,377 | (31,710) |
| Foreign exchange adjustment on fixed maturities recorded at fair value | (715) | 1,749 | 4,632 |
| Total unrealized investment gains (losses) | 750,734 | (5,298,692) | (519,345) |
| Less applicable tax (expense) benefit | (157,658) | 1,112,730 | 109,063 |
| Unrealized gains (losses) on investments, net of tax | 593,076 | (4,185,962) | (410,282) |
| Future Policy benefits: | |||
| Change in discount rate on future policy benefits | (731,883) | 7,021,147 | 1,156,763 |
| Less applicable tax (expense) benefit | 153,696 | (1,474,441) | (242,920) |
| Future policy benefit adjustments, net of tax | (578,187) | 5,546,706 | 913,843 |
| Foreign exchange translation: | |||
| Foreign exchange translation adjustments, other than securities | 8,102 | (26,494) | (5,131) |
| Less applicable tax (expense) benefit | (1,702) | 5,565 | 1,077 |
| Foreign exchange translation adjustments, other than securities, net of tax | 6,400 | (20,929) | (4,054) |
| Pension: | |||
| Amortization of pension costs | (390) | 13,754 | 20,797 |
| Plan amendments | — | — | (4,565) |
| Experience gain (loss) | (3,907) | 119,055 | 61,299 |
| Pension adjustments | (4,297) | 132,809 | 77,531 |
| Less applicable tax (expense) benefit | 902 | (27,889) | (16,281) |
| Pension adjustments, net of tax | (3,395) | 104,920 | 61,250 |
| Other comprehensive income (loss) | 17,894 | 1,444,735 | 560,757 |
| Comprehensive income (loss) | $988,649 | $2,339,121 | $1,591,871 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.