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GLOBE LIFE INC. (GL)
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| Income Statement |
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Annual | Quarterly | TTM |
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| In millions, except per share items | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-05-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 |
| | 10-K | 10-K | 10-K | 10-K | 8-K | 10-K | 10-K | 10-K |
| Revenues: |
| Life | 2,898.2 | 2,672.8 | 2,517.8 | 2,406.6 | | 2,306.5 | 2,189.3 | 2,073.1 |
| Health | 1,201.7 | 1,141.1 | 1,077.3 | 1,015.3 | | 976.4 | 947.7 | 925.5 |
| Investment | 952.4 | 927.1 | 910.5 | 882.5 | | 847.9 | 806.9 | 774.0 |
| Other | 1.2 | 1.3 | 1.3 | 1.2 | | 1.3 | | |
| Other | 59.3 | | 20.6 | | | 23.5 | | |
| Total revenues | 5,112.9 | 4,737.9 | 4,527.5 | 4,303.8 | 4,303.8 | 4,155.6 | 3,934.6 | 3,766.1 |
| Revenue growth | 7.9% | 4.6% | 5.2% | 3.6% | | 5.6% | 4.5% | 4.0% |
| Loss and loss adjustment expenses | 758.7 | 733.5 | 687.8 | 649.2 | | 633.8 | 2,128.7 | 602.6 |
| Policy acquisition costs | 603.8 | 575.8 | 551.7 | 516.7 | | 490.4 | 469.1 | 445.6 |
| Investment expenses | 21.2 | 17.8 | 16.0 | 15.6 | | 14.8 | 13.7 | 12.6 |
| Other operating expenses | 2,733.3 | 2,427.5 | 2,256.4 | 2,168.5 | 3,440.1 | 2,101.4 | 467.6 | 1,862.4 |
| Equity in earnings | | | | | | | | -8.8 |
| EBITDA | | | | | | | | |
| Depreciation | | | | | | | | |
| EBIT | 984.0 | 979.1 | 1,006.2 | 948.6 | 701.5 | 901.1 | 851.2 | 845.0 |
| EBIT margin | 19.2% | 20.7% | 22.2% | 22.0% | 16.3% | 21.7% | 21.6% | 22.4% |
| Interest expense, net [+] | 178.9 | 177.7 | 178.0 | 185.3 | 0.0 | 183.2 | 171.0 | 76.6 |
| Interest expense | 83.5 | 86.7 | 84.3 | 90.1 | | 84.5 | 83.3 | 76.6 |
| Interest income | -95.4 | -91.0 | -93.7 | -95.2 | | -98.7 | -87.7 | |
| Other income (expense), net | 95.4 | 91.0 | 93.7 | 95.2 | | 98.7 | 87.7 | -2.2 |
| Pre-tax income | 912.4 | 896.7 | 931.3 | 863.7 | 863.7 | 830.6 | 772.2 | 766.2 |
| Income taxes | 167.4 | 164.9 | 170.4 | 162.2 | 162.2 | -627.6 | 232.6 | -249.9 |
| Tax rate | 18.4% | 18.4% | 18.3% | 18.8% | 18.8% | | 30.1% | |
| Earnings from continuing ops | 745.0 | 731.8 | 760.9 | 701.5 | 701.5 | 1,458.3 | 539.6 | 516.3 |
| Earnings from discontinued ops | | | | | 0.0 | | 0.0 | |
| Net income | 745.0 | 731.8 | 760.8 | 701.5 | 701.5 | 1,454.5 | 549.8 | 527.1 |
| Net margin | 14.6% | 15.4% | 16.8% | 16.3% | 16.3% | 35.0% | 14.0% | 14.0% |
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| Basic EPS | $7.30 | $6.90 | $6.97 | $6.22 | | $12.53 | $4.50 | $4.13 |
| Diluted EPS | $7.22 | $6.82 | $6.83 | $6.09 | | $12.26 | $4.41 | $4.07 |
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| Shares outstanding (basic) | 102.1 | 106.1 | 109.2 | 112.9 | | 116.3 | 120.0 | 125.1 |
| Shares outstanding (diluted) | 103.2 | 107.2 | 111.4 | 115.2 | | 119.0 | 122.4 | 126.8 |
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| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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