Debt (Tables)

12 Months Ended

Dec. 31, 2019

The following table presents information about the terms and outstanding balances of Globe Life's debt.

Selected Information about Debt Issues


					As of December 31,
					2019															2018
Instrument	Issue Date	Maturity Date	Coupon Rate		Interest Payment Dates	Par Value		Book Value		Fair Value		Book Value
Notes	5/27/1993	5/15/2023	7.875%		semiannual	$	165,612	$	164,713	$	194,525	$	164,490
Senior notes⁽¹⁾	9/24/2012	9/15/2022	3.800%		semiannual	150,000		149,089		153,922		148,777
Senior notes	9/27/2018	9/15/2028	4.550%		semiannual	550,000		543,735		612,738		543,169
Junior subordinated debentures	5/17/2016	6/15/2056	6.125%		quarterly	300,000		290,584		316,920		290,520
Junior subordinated debentures	11/17/2017	11/17/2057	5.275%		semiannual	125,000		123,367		117,759		123,354
Term loan	6/13/2016	5/17/2021	2.952%	(2)	monthly	86,875		86,875		86,875		93,750
						1,377,487		1,358,363		1,482,739		1,364,060
Less current maturity of term loan⁽³⁾														9,375		9,375		9,375			6,875
Total long-term debt														1,368,112		1,348,988		1,473,364			1,357,185

Current maturity of term loan⁽³⁾														9,375		9,375		9,375			6,875
Commercial paper														290,000		289,363		289,363			300,973
Total short-term debt														299,375		298,738		298,738			307,848

Total debt														$	1,667,487	$	1,647,726	$	1,772,102		$	1,665,033

(1)An additional $150 million par value and book value is held by insurance subsidiaries that eliminates in consolidation.

(2)Interest paid at 1 month LIBOR plus 125 basis points, resets each month.

(3)The current amount of the term loan due of $9.4 million is classified as short-term debt.

The following table presents expected scheduled principal payments under our contractual debt obligations:

A table presenting selected information concerning Globe Life's commercial paper borrowings is presented below.

Credit Facility - Commercial Paper


	At December 31,
	2019			2018
Balance at end of period (at par value)	$	290,000		$	302,100
Annualized interest rate	2.04		%	2.93		%
Letters of credit outstanding	$	150,000		$	155,000
Remaining amount available under credit line	310,000			292,900


	Year Ended December 31,
	2019			2018			2017
Average balance outstanding during period	$	288,684		$	368,228		$	323,429
Daily-weighted average interest rate (annualized)	2.62		%	2.40		%	1.30		%
Maximum daily amount outstanding during period	385,000			525,990			455,912