Debt (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Selected Information about Debt Issues

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,
				2022								December 31, 2021
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	$	(112)	$	165,500	$	166,819	$	165,216
Senior notes(2)	9/24/2012	9/15/2022	3.800%	—		—		—		—		149,752
Senior notes	9/27/2018	9/15/2028	4.550%	550,000		(4,399)		545,601		534,501		544,949
Senior notes	8/21/2020	8/15/2030	2.150%	400,000		(3,781)		396,219		314,996		395,778
Senior notes(1)	5/19/2022	6/15/2032	4.800%	250,000		(4,507)		245,493		236,263		—

Junior subordinated debentures	11/17/2017	11/17/2057	5.275%	125,000		(1,590)		123,410		121,817		123,396
Junior subordinated debentures	6/14/2021	6/15/2061	4.250%	325,000		(7,771)		317,229		232,700		317,155
				1,815,612		(22,160)		1,793,452		1,607,096		1,696,246
Less current maturity of long-term debt				165,612		(112)		165,500		166,819		149,752
Total long-term debt				1,650,000		(22,048)		1,627,952		1,440,277		1,546,494

Current maturity of long-term debt				165,612		(112)		165,500		166,819		149,752
Commercial paper				285,000		(1,397)		283,603		283,604		329,892
Total short-term debt				450,612		(1,509)		449,103		450,423		479,644

Total debt				$	2,100,612	$	(23,557)	$	2,077,055	$	1,890,700	$	2,026,138

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

(2)The $300 million of 3.80% Senior notes matured on September 15, 2022, of which $150 million was owned by Globe Life affiliates.A table presenting selected information concerning Globe Life's commercial paper borrowings is presented below.

Credit Facility - Commercial Paper


	At December 31,
	2022			2021
Balance at end of period (at par value)	$	285,000		$	330,033
Annualized interest rate	4.78		%	0.29		%
Letters of credit outstanding	$	125,000		$	125,000
Remaining amount available under credit line	340,000			294,967


	Year Ended December 31,
	2022			2021			2020
Average balance outstanding during period	$	322,531		$	311,049		$	318,409
Daily-weighted average interest rate (annualized)	1.89		%	0.23		%	1.50		%
Maximum daily amount outstanding during period	$	500,529		$	465,033		$	482,000

Schedule of Maturities of Long-term Debt

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


	Year Ended December 31,
	2023		2024		2025		2026		2027		Thereafter
Debt obligations	$	450,612	$	—	$	—	$	—	$	—	$	1,650,000