Debt (Tables)

12 Months Ended

Dec. 31, 2020

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,
				2020								2019
Instrument	Issue Date	Maturity Date	Coupon Rate	Par Value		Unamortized Discount & Issuance Costs		Book Value		Fair Value		Book Value
Senior notes	5/27/1993	5/15/2023	7.875%	$	165,612	$	(658)	$	164,954	$	192,020	$	164,713
Senior notes(1)	9/24/2012	9/15/2022	3.800%	150,000		(586)		149,414		158,081		149,089
Senior notes	9/27/2018	9/15/2028	4.550%	550,000		(5,672)		544,328		659,599		543,735
Senior notes	8/21/2020	8/15/2030	2.150%	400,000		(4,843)		395,157		405,384		—
Junior subordinated debentures	5/17/2016	6/15/2056	6.125%	300,000		(9,348)		290,652		325,800		290,584
Junior subordinated debentures	11/17/2017	11/17/2057	5.275%	125,000		(1,619)		123,381		130,870		123,367
Term loan				—		—		—		—		86,875
				1,690,612		(22,726)		1,667,886		1,871,754		1,358,363
Less current maturity of term loan				—		—		—		—		9,375
Total long-term debt				1,690,612		(22,726)		1,667,886		1,871,754		1,348,988

Current maturity of term loan				—		—		—		—		9,375
Commercial paper				255,000		(82)		254,918		254,918		289,363
Total short-term debt				255,000		(82)		254,918		254,918		298,738

Total debt				$	1,945,612	$	(22,808)	$	1,922,804	$	2,126,672	$	1,647,726

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

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

Credit Facility - Commercial Paper


	At December 31,
	2020			2019
Balance at end of period (at par value)	$	255,000		$	290,000
Annualized interest rate	0.27		%	2.04		%
Letters of credit outstanding	$	135,000		$	150,000
Remaining amount available under credit line	360,000			310,000


	Year Ended December 31,
	2020			2019			2018
Average balance outstanding during period	$	318,409		$	288,684		$	368,228
Daily-weighted average interest rate (annualized)	1.50		%	2.62		%	2.40		%
Maximum daily amount outstanding during period	$	482,000		$	385,000		$	525,990

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