Globe Life Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	1,071	970.76	894.39	1,031
Depreciation & Amortization	27	21	21	20
Other Amortization	410	379.7	348.82	317.62
Gain (Loss) on Sale of Investments	24.19	65.68	76.55	-68.63
Change in Income Taxes	77.93	101.45	91.84	147.99
Change in Insurance Reserves / Liabilities	750.69	839.81	795.06	677.43
Other Operating Activities	-958.13	-895.97	-805.46	-687.84
Operating Cash Flow	1,402	1,482	1,422	1,438
Operating Cash Flow Growth	-5.40%	4.23%	-1.08%	-2.63%
Capital Expenditures	-71.05	-49.55	-27.93	-38.24
Investment in Securities	-407.41	-719.62	-845.45	-834.17
Other Investing Activities	0.1	-	-	-56.7
Investing Cash Flow	-641.52	-926.15	-943.02	-913.37
Short-Term Debt Issued	484.73	32.96	-	74.97
Long-Term Debt Issued	530	170	250.49	325
Total Debt Issued	1,015	202.96	250.49	399.97
Total Debt Repaid	-385.89	-165.61	-196.29	-300
Net Debt Issued (Repaid)	628.84	37.35	54.2	99.97
Issuance of Common Stock	51.79	114.08	106.59	69.83
Repurchases of Common Stock	-1,002	-511.1	-454.64	-541.44
Common Dividends Paid	-85.49	-84.12	-80.55	-80.04
Other Financing Activities	-421.03	-0.76	-5.27	-7.69
Financing Cash Flow	-715.84	-541.49	-492.45	-523.6
Foreign Exchange Rate Adjustments	17.08	-4.19	13.67	-3.39
Net Cash Flow	62.17	10.6	0.4	-2.68
Free Cash Flow	1,331	1,433	1,394	1,399
Free Cash Flow Growth	-7.08%	2.77%	-0.37%	-2.46%
Free Cash Flow Margin	23.04%	26.30%	26.68%	27.38%
Free Cash Flow Per Share	14.85	14.87	14.09	13.56
Cash Interest Paid	116.99	99.55	88.81	83.07
Cash Income Tax Paid	175.4	121.03	114.89	96.22
Levered Free Cash Flow	1,442	1,176	-133.12	1,103
Unlevered Free Cash Flow	1,521	1,240	-76.62	1,155
Change in Working Capital	828.62	941.26	886.9	825.42

Source: S&P Global Market Intelligence. Insurance template. Financial Sources.