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Globe Life GL Liberty National — Deferred acquisition costs

Other product segments

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

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Other financials

Income statement

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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

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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 liberty national — deferred acquisition costs?
Globe Life (GL) reported liberty national — deferred acquisition costs of $956.62M in Q1 2026.
How has Globe Life's liberty national — deferred acquisition costs changed year-over-year?
Globe Life's liberty national — deferred acquisition costs increased by 7.0% year-over-year, from $894.37M to $956.62M.
What is the long-term trend for Globe Life's liberty national — deferred acquisition costs?
Over 3 years (2022 to 2025), Globe Life's liberty national — deferred acquisition costs has grown at a 8.3% compound annual growth rate (CAGR), from $2.89B to $3.67B.
What does liberty national — deferred acquisition costs mean?
Costs incurred in the acquisition of new insurance business, such as commissions and underwriting expenses, that are capitalized and amortized over the life of the policies. This reflects the investment made to secure long-term revenue streams.

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