GLOBE LIFE INC
For the period ended Dec 31, 2024. Filed Feb 26, 2025.
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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.
FY2024 · Filed Feb 26, 2025
GL$163.46+1.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Net income | $1,070,762 | $970,755 | $894,386 |
| Adjustments to reconcile net income to cash provided from operations: | |||
| Increase (decrease) in future policy benefits | 731,417 | 834,366 | 759,426 |
| Increase (decrease) in other policy benefits | 19,268 | 5,448 | 35,638 |
| Deferral of policy acquisition costs | (913,544) | (850,169) | (828,943) |
| Amortization of deferred policy acquisition costs | 410,001 | 379,700 | 348,824 |
| Change in current and deferred income taxes | 77,930 | 101,448 | 91,835 |
| Realized (gains) losses | 24,188 | 65,676 | 76,548 |
| Other, net | (17,582) | (24,799) | 44,480 |
| Cash provided from (used for) operating activities | 1,402,440 | 1,482,425 | 1,422,194 |
| Cash provided from (used for) investing activities: | |||
| Investments sold or matured: | |||
| Fixed maturities available for sale—sold | 1,207,237 | 602,556 | 390,392 |
| Fixed maturities available for sale—matured or other redemptions | 214,442 | 250,652 | 462,002 |
| Mortgage loans | 54,157 | 44,004 | 32,870 |
| Other long-term investments | 43,362 | 151,262 | 50,281 |
| Total investments sold or matured | 1,519,198 | 1,048,474 | 935,545 |
| Acquisition of investments: | |||
| Fixed maturities—available for sale | (1,379,238) | (1,536,409) | (1,420,220) |
| Mortgage loans | (174,665) | (158,823) | (77,275) |
| Other long-term investments | (459,660) | (155,700) | (213,207) |
| Total investments acquired | (2,013,563) | (1,850,932) | (1,710,702) |
| Net (increase) decrease in policy loans | (42,649) | (42,154) | (25,232) |
| Net (increase) decrease in short-term investments | (3,295) | 32,381 | (44,976) |
| Additions to property and equipment | (71,045) | (49,553) | (27,929) |
| Other investing activities | 96 | — | — |
| Investments in low-income housing interests | (30,258) | (64,365) | (69,721) |
| Cash provided from (used for) investing activities | (641,516) | (926,149) | (943,015) |
| Cash provided from (used for) financing activities: | |||
| Issuance of common stock | 51,786 | 114,080 | 106,592 |
| Cash dividends paid to shareholders | (85,485) | (84,116) | (80,547) |
| Repayment of debt | — | (165,612) | (150,000) |
| Proceeds from issuance of debt | 530,000 | 170,000 | 250,492 |
| Payment for debt issuance costs | (7,253) | (757) | (5,272) |
| Net borrowing (repayment) of commercial paper | (13,878) | 32,961 | (46,289) |
| Proceeds from commercial paper with original maturities greater than 90 days | 484,726 | — | — |
| Repayment of commercial paper with original maturities greater than 90 days | (372,011) | — | — |
| Acquisition of treasury stock | (1,002,109) | (511,100) | (454,638) |
| Amounts paid to reinsurer | (413,779) | — | — |
| Net receipts (payments) from deposit-type products | 112,168 | (96,943) | (112,791) |
| Cash provided from (used for) financing activities | (715,835) | (541,487) | (492,453) |
| Effect of foreign exchange rate changes on cash | 17,080 | (4,192) | 13,670 |
| Net increase (decrease) in cash | 62,169 | 10,597 | 396 |
| Cash at beginning of year | 103,156 | 92,559 | 92,163 |
| Cash at end of year | $165,325 | $103,156 | $92,559 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.