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Globe Life GL Direct to Consumer — Deferred acquisition costs

Other product segments

American Income
$3.42B+11.5%
Liberty National
$956.62M+7.0%
Family Heritage
$555.78M+9.7%
Other
$290.51M
United American
$67.49M-3.2%

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Other financials

Income statement

See full
Revenue$1.6B+8.0%
Net income$287.7M+13.8%
EPS (diluted)$3.65+19.7%

Balance sheet

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Cash & equivalents$255.2M+9.9%
Total debt$3.2B-1.3%
Total equity$6.1B+12.1%
Total assets$31.0B+4.2%

Cash flow

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Operating cash flow$420.9M-2.5%
CapEx$24.9M+112%
Free cash flow$396.0M-5.7%

Valuation

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Market cap$14.28B+22.5%
Enterprise value$17.26B-0.8%
P/E11.8×+0.8×
P/S2.3×+0.3×

Profitability

See full
Net margin19.6%+1.5pp
FCF margin20.2%-3.9pp

Returns & leverage

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Return on equity20.5%0.0pp
Debt / equity0.5×-0.1×

Where this comes from

Reported directly by Globe Life in its filing.

Tagged under the XBRL concept us-gaap:DeferredPolicyAcquisitionCosts.

The source filing: Globe Life’s 10-Q, filed May 7, 2026.

Filed
May 7, 2026, 4:32 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0000320335-26-000169
Line itemMarch 31,2026December 31, 2025
Cash255,209144,704
Accrued investment income289,633272,818
Other receivables727,521768,592
Deferred acquisition costs7,119,1206,999,136
Goodwill490,446490,446
Other assets1,675,5241,667,987
Total assets$30,965,851$30,813,692
Liabilities:

Item 1. Condensed Consolidated Financial Statements

FAQ

What is Globe Life's direct to consumer — deferred acquisition costs?
Globe Life (GL) reported direct to consumer — deferred acquisition costs of $1.83B in Q1 2026.
How has Globe Life's direct to consumer — deferred acquisition costs changed year-over-year?
Globe Life's direct to consumer — deferred acquisition costs increased by 2.1% year-over-year, from $1.79B to $1.83B.
What is the long-term trend for Globe Life's direct to consumer — deferred acquisition costs?
Over 3 years (2022 to 2025), Globe Life's direct to consumer — deferred acquisition costs has grown at a 3.2% compound annual growth rate (CAGR), from $6.58B to $7.23B.
What does direct to consumer — deferred acquisition costs mean?
The balance of costs incurred to acquire new insurance policies in the direct-to-consumer segment that are capitalized and amortized over the life of the policies. This reflects the investment made to generate future premium revenue.

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