Debt (Tables)

12 Months Ended

Dec. 31, 2021

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,
				2021								2020
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	$	(396)	$	165,216	$	180,444	$	164,954
Senior notes(1)	9/24/2012	9/15/2022	3.800%	150,000		(248)		149,752		153,284		149,414
Senior notes	9/27/2018	9/15/2028	4.550%	550,000		(5,051)		544,949		625,801		544,328
Senior notes	8/21/2020	8/15/2030	2.150%	400,000		(4,222)		395,778		395,208		395,157
Junior subordinated debentures(2)	—	—	—	—		—		—		—		290,652
Junior subordinated debentures	11/17/2017	11/17/2057	5.275%	125,000		(1,604)		123,396		128,856		123,381
Junior subordinated debentures	6/14/2021	6/15/2061	4.250%	325,000		(7,845)		317,155		336,700		—
				1,715,612		(19,366)		1,696,246		1,820,293		1,667,886
Less current maturity of long-term debt(1)				150,000		(248)		149,752		153,284		—
Total long-term debt				1,565,612		(19,118)		1,546,494		1,667,009		1,667,886

Current maturity of long-term debt(1)				150,000		(248)		149,752		153,284		—
Commercial paper				330,033		(141)		329,892		329,892		254,918
Total short-term debt				480,033		(389)		479,644		483,176		254,918

Total debt				$	2,045,645	$	(19,507)	$	2,026,138	$	2,150,185	$	1,922,804

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

(2)The $300 million of 6.125% Junior subordinated debentures were redeemed on July 15, 2021.

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

Credit Facility - Commercial Paper


	At December 31,
	2021			2020
Balance at end of period (at par value)	$	330,033		$	255,000
Annualized interest rate	0.29		%	0.27		%
Letters of credit outstanding	$	125,000		$	135,000
Remaining amount available under credit line	294,967			360,000


	Year Ended December 31,
	2021			2020			2019
Average balance outstanding during period	$	311,049		$	318,409		$	288,684
Daily-weighted average interest rate (annualized)	0.23		%	1.50		%	2.62		%
Maximum daily amount outstanding during period	$	465,033		$	482,000		$	385,000

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