Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2019

Equity [Abstract]

Summary of Preferred and Common Share Activity

A summary of common share activity is presented in the following chart.

	Common Stock
	Issued	Treasury Stock
2017:
Balance at January 1, 2017	127,218,183	(9,187,075)
Grants of restricted stock	—	9,135
Vesting of performance shares	—	119,896
Issuance of common stock due to exercise of stock options	—	1,661,808
Treasury stock acquired	—	(5,228,868)
Retirement of treasury stock	(3,000,000)	3,000,000
Balance at December 31, 2017	124,218,183	(9,625,104)
2018:
Grants of restricted stock	—	10,805
Forfeitures of restricted stock	—	(7,500)
Vesting of performance shares	—	149,898
Issuance of common stock due to exercise of stock options	—	897,622
Treasury stock acquired	—	(4,950,868)
Retirement of treasury stock	(3,000,000)	3,000,000
Balance at December 31, 2018	121,218,183	(10,525,147)
2019:
Grants of restricted stock	—	8,840
Vesting of performance shares	—	311,399
Issuance of common stock due to exercise of stock options	—	1,810,559
Treasury stock acquired	—	(5,103,591)
Retirement of treasury stock	(4,000,000)	4,000,000
Balance at December 31, 2019	117,218,183	(9,497,940)

Acquisition of Common Shares

See the following summary below:

	Globe Life Share Repurchase Program					Share Repurchase for Dilution Purposes
	Shares Acquired (in thousands)	Total Cost		Average Price		Shares Acquired (in thousands)	Total Cost		Average Price
2019	3,932	$	350,080	$	89.04	1,209	$	109,489	$	90.52
2018	4,406	371,794		84.38		571	49,955		87.54
2017	4,126	324,622		78.67		1,103	88,367		80.15

Reconciliation of Basic and Diluted Weighted Average Shares Outstanding

A reconciliation of basic and diluted weighted-average shares outstanding used in the computation of basic and diluted earnings per share is as follows:

	Year Ended December 31,
	2019	2018	2017
Basic weighted average shares outstanding	109,213,524	112,872,581	116,342,529
Weighted average dilutive options outstanding	2,167,726	2,376,372	2,640,965
Diluted weighted average shares outstanding	111,381,250	115,248,953	118,983,494
Antidilutive shares	21,556	1,161,521	—