Globe Life Inc. (GL) · 10+ Years of Financial statements

Income Statement	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Sales/Revenue/Turnover	3,222	3,368	3,377	3,590	3,772	3,965	3,766	3,934	4,156	4,304	4,528	4,738	5,113	5,215	5,448
+ Sales & Services Revenue	3,222	3,368	3,377	3,590	3,772	3,965	3,766	3,934	4,156	4,304	4,528	4,738	5,113	5,215	5,448
- Cost of Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cost of Goods & Services	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Profit	3,115	3,368	3,377	3,590	3,494	3,620	3,766	3,935	4,156	4,315	4,528	4,739	5,121	5,227	5,448
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	3,115	3,368	3,377	3,590	3,494	3,620	3,766	3,935	4,156	4,315	4,528	4,739	5,121	5,227	5,448
+ Selling, General & Admin	131	125	124	187	205	212	215	232	257	280	305	287	302	335	332
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	2,984	3,242	3,253	3,403	3,290	3,408	3,551	3,703	3,899	4,035	4,223	4,452	4,819	4,892	5,116
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Non-Operating (Income) Loss	-605	-779	-756	-766	-763	-778	-766	-772	-831	-864	-931	-897	-912	-906	-1,194
+ Interest Expense, Net	70	76	78	81	80	76	77	83	85	90	84	87	83	90	102
+ Interest Expense	70	76	78	81	80	76	77	83	85	90	84	87	83	90	102
- Interest Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	-675	-854	-834	-847	-844	-855	-843	-855	-916	-954	-1,016	-983	-996	-997	-1,297
Pretax Income	605	779	756	766	763	778	766	772	831	864	931	897	912	906	1,194
- Income Tax Expense (Benefit)	200	256	237	237	235	236	250	233	-628	162	170	165	167	167	224
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	405	522	518	529	528	543	516	540	1,458	702	761	732	745	740	971
- Net Extraordinary Losses (Gains)	- -	5	- -	- -	- -	- -	-11	-10	4	1	- -	- -	- -	- -	- -
+ Discontinued Operations	19	-5	- -	- -	21	15	11	10	-4	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	-19	10	1	- -	-21	-15	-22	-20	8	1	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	405	517	518	529	528	543	527	550	1,454	701	761	732	745	740	971
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	405	517	518	529	528	543	527	550	1,454	701	761	732	745	740	971
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	405	517	518	529	528	543	527	550	1,454	701	761	732	745	740	971
Basic Weighted Avg Shares	187	183	162	145	138	131	125	120	116	113	109	106	102	98	95
Basic EPS, GAAP	2.17	2.83	3.19	3.65	3.84	4.15	4.21	4.58	12.5	6.21	6.97	6.9	7.3	7.55	10.21
Basic EPS from Cont Ops	2.17	2.85	3.19	3.65	3.84	4.15	4.13	4.5	12.53	6.22	6.97	6.9	7.3	7.55	10.21
Diluted Weighted Avg Shares	187	185	165	147	140	133	127	122	119	115	111	107	103	99	96
Diluted EPS, GAAP	2.17	2.8	3.14	3.6	3.79	4.09	4.16	4.49	12.22	6.08	6.83	6.82	7.22	7.47	10.07
Diluted EPS from Cont Ops	2.17	2.83	3.15	3.6	3.79	4.09	4.07	4.41	12.25	6.09	6.83	6.82	7.22	7.47	10.07
EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Profit Margin (%)	12.57	15.35	15.33	14.75	14.01	13.69	14	13.98	34.99	16.29	16.8	15.45	14.57	14.18	17.82
Sales per Employee	919,371	1,023,285	1,059,743	1,179,986	1,305,169	1,330,387	1,209,010	1,257,673	1,339,781	1,387,492	1,416,625	1,452,904	1,586,862	1,471,890	1,498,221
Dividend per Share	0.25	0.27	0.3	0.38	0.44	0.5	0.53	0.56	0.59	0.63	0.68	0.74	0.78	0.82	0.88
Depreciation Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Balance Sheet	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Total Current Assets	787	813	12,247	14,081	13,324	14,903	14,219	15,779	17,607	16,897	19,463	21,890	21,954	17,299	18,685
+ Cash, Cash Equivalents & STI	590	582	105	13,698	12,993	14,575	13,874	15,394	17,215	16,482	19,021	21,416	21,467	16,710	18,055
+ Cash & Cash Equivalents	232	366	84	62	37	66	61	76	119	121	76	95	92	93	103
+ ST Investments	358	217	21	13,636	12,956	14,509	13,813	15,318	17,096	16,361	18,945	21,321	21,374	16,617	17,952
+ Accounts & Notes Receiv	197	230	254	384	331	544	345	384	392	415	442	474	487	485	630
+ Accounts Receivable, Net	197	230	254	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	384	331	544	345	384	392	415	442	474	487	485	630
+ Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	- -	- -	11,888	- -	- -	-216	- -	- -	- -	- -	- -	- -	- -	104	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	15,237	15,347	4,341	4,695	4,868	5,369	5,634	5,658	5,868	6,198	6,514	7,156	7,814	8,688	9,366
+ Property, Plant & Equip, Net	- -	- -	48	46	51	54	83	97	108	135	161	186	205	212	240
+ Property, Plant & Equip	- -	- -	48	46	51	54	83	97	108	135	161	186	205	212	240
- Accumulated Depreciation	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Investments & Receivables	10,071	10,777	11,927	13,652	12,958	14,510	13,814	15,318	17,096	16,361	18,945	21,321	21,374	16,617	17,952
+ LT Investments	10,071	10,777	11,927	13,652	12,958	14,510	13,814	15,318	17,096	16,361	18,945	21,321	21,374	16,617	17,952
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	5,166	4,570	-7,633	-9,002	-8,141	-9,195	-8,263	-9,757	-11,336	-10,298	-12,592	-14,351	-13,765	-8,142	-8,826
+ Total Intangible Assets	424	397	397	442	442	442	442	442	442	442	442	442	482	482	482
+ Goodwill	424	397	397	442	442	442	442	442	442	442	442	442	482	482	482
+ Other Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	4,743	4,173	-8,030	-9,444	-8,583	-9,637	-8,705	-10,199	-11,778	-10,739	-13,034	-14,792	-14,247	-8,624	-9,308
Total Assets	16,024	16,160	17,156	18,777	18,192	20,215	19,853	21,436	23,475	23,096	25,977	29,047	29,768	25,537	28,051
+ Payables & Accruals	- -	346	347	1,610	1,286	1,797	1,451	1,744	1,312	1,048	1,477	1,834	1,765	686	495
+ Accounts Payable	- -	222	222	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accrued Taxes	- -	- -	1,320	1,610	1,286	1,797	1,451	1,744	1,312	1,048	1,477	1,834	1,765	686	495
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	- -	124	-1,195	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Debt	233	199	225	319	229	238	490	264	328	308	299	255	480	449	486
+ ST Borrowings	233	199	225	319	229	238	490	264	328	308	299	255	480	449	486
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Liabilities	966	1,209	973	- -	- -	-11	- -	- -	- -	- -	- -	- -	- -	-252	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	966	1,209	1,519	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	- -	- -	-546	- -	- -	-11	- -	- -	- -	- -	- -	- -	- -	-252	- -
Total Current Liabilities	1,200	1,754	1,545	1,929	1,515	2,024	1,941	2,008	1,640	1,356	1,776	2,089	2,245	884	981
+ LT Debt	920	790	791	990	991	992	744	1,133	1,132	1,357	1,349	1,668	1,546	1,628	1,630
+ LT Borrowings	920	790	791	990	991	992	744	1,133	1,132	1,357	1,349	1,668	1,546	1,628	1,630
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Liabilities	10,505	9,600	10,393	11,497	11,910	12,558	13,113	13,728	14,471	14,968	15,559	16,519	17,334	19,526	20,954
+ Accrued Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	10,505	9,600	10,393	11,497	11,910	12,558	13,113	13,728	14,471	14,968	15,559	16,519	17,334	19,526	20,954
Total Noncurrent Liabilities	11,425	10,389	11,184	12,486	12,901	13,550	13,857	14,861	15,603	16,325	16,908	18,187	18,881	21,153	22,584
Total Liabilities	12,625	12,144	12,927	14,415	14,415	15,517	15,798	16,869	17,244	17,681	18,683	20,276	21,125	20,641	23,565
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	525	512	538	546	563	592	613	618	633	646	649	641	630	635	635
+ Common Stock	84	80	112	106	101	134	130	127	124	121	117	113	109	105	102
+ Additional Paid in Capital	441	433	425	440	462	458	482	490	508	524	532	527	521	530	532
- Treasury Stock	36	33	493	512	543	269	403	519	632	763	751	773	847	790	854
+ Retained Earnings	3,229	3,513	3,634	3,403	3,546	3,377	3,614	3,891	4,806	5,213	5,551	5,874	6,182	6,466	7,479
+ Other Equity	-319	23	549	925	211	997	232	578	1,424	319	1,845	3,029	2,678	-1,416	-2,772
Equity Before Minority Interest	3,399	4,016	4,229	4,362	3,776	4,697	4,056	4,567	6,231	5,415	7,294	8,771	8,643	4,896	4,487
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	3,399	4,016	4,229	4,362	3,776	4,697	4,056	4,567	6,231	5,415	7,294	8,771	8,643	4,896	4,487
Total Liabilities & Equity	16,024	16,160	17,156	18,777	18,192	20,215	19,853	21,436	23,475	23,096	25,977	29,047	29,768	25,537	28,051
Shares Outstanding	186	178	151	141	134	128	122	118	115	111	108	104	100	97	94
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt	922	623	931	1,247	1,183	1,165	1,172	1,321	1,342	1,544	1,572	1,828	1,934	1,984	2,013
Net Debt to Equity	27.12	15.51	22.02	28.59	31.33	24.79	28.91	28.94	21.53	28.51	21.55	20.84	22.38	40.53	44.85
Tangible Common Equity Ratio	19.07	22.96	22.86	21.38	18.79	21.52	18.62	19.65	25.14	21.95	26.84	29.12	27.87	17.62	14.53
Current Ratio	0.66	0.46	7.93	7.3	8.8	7.36	7.33	7.86	10.74	12.47	10.96	10.48	9.78	19.57	19.05
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Number of Employees	3,505	3,291	3,187	3,042	2,890	2,980	3,115	3,128	3,102	3,102	3,196	3,261	3,222	3,543	3,636

Cash Flow Statement	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
+ Net Income	405	517	518	529	528	543	527	550	1,454	701	761	732	745	740	971
+ Depreciation & Amortization	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Non-Cash Items	557	-87	-107	-109	-175	-31	-155	-146	-122	-177	-160	-176	-252	-233	-430
+ Stock-Based Compensation	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Income Taxes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Asset Impairment Charge	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Cash Adj	557	-87	-107	-109	-175	-31	-155	-146	-122	-177	-160	-176	-252	-233	-430
+ Chg in Non-Cash Work Cap	14	599	448	522	699	509	749	823	19	752	746	921	945	916	941
+ (Inc) Dec in Accts Receiv	-43	-25	-23	-90	51	-164	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ (Inc) Dec in Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	- -	68	31	123	76	99	104	152	-701	69	69	88	72	51	101
+ Inc (Dec) in Other	58	555	440	489	572	574	646	671	719	682	677	833	873	865	840
+ Net Cash From Disc Ops	- -	- -	- -	- -	66	-156	-2	172	78	1	17	- -	- -	- -	- -
Cash from Operating Activities	976	1,029	859	943	1,119	865	1,120	1,399	1,429	1,278	1,364	1,476	1,438	1,422	1,482
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	3	- -	1	9	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	3	- -	1	9	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-6	-9	-5	-5	-11	-19	-37	-25	-20	-45	-42	-42	-38	-28	-50
+ Acq of Fixed Prod Assets	-6	-9	-5	-5	-11	-19	-37	-25	-20	-45	-42	-42	-38	-28	-50
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Change in LT Investment	-882	-810	-261	-484	-579	-316	-576	-1,022	-885	-833	-742	-1,124	-813	-890	-720
+ Dec in LT Investment	1,670	1,099	878	1,096	661	445	607	578	560	440	924	512	503	936	1,037
+ Inc in LT Investment	-2,552	-1,909	-1,139	-1,579	-1,240	-761	-1,183	-1,600	-1,445	-1,273	-1,666	-1,636	-1,316	-1,825	-1,756
+ Net Cash From Acq & Div	-25	290	-28	-186	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash from Divestitures	- -	343	22	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	-25	-53	-50	-186	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	-24	-29	-20	-23	-25	-23	-20	-16	-22	-19	-25	-16	-62	-25	-157
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-937	-558	-312	-698	-614	-350	-633	-1,062	-927	-896	-809	-1,182	-913	-943	-926
+ Dividends Paid	-47	-50	-49	-56	-61	-65	-67	-67	-69	-71	-74	-78	-80	-81	-84
+ Net Cash From Debt	-170	-9	- -	151	-94	- -	- -	150	-2	222	-7	313	25	100	4
+ Cash From Debt	- -	- -	- -	275	- -	- -	- -	400	125	550	- -	700	325	250	170
+ Repayments of Debt	-170	-9	- -	-124	-94	- -	- -	-250	-127	-328	-7	-387	-300	-150	-166
+ Cash (Repurchase) of Equity	253	-208	-810	-389	-384	-393	-383	-343	-352	-386	-376	-396	-472	-348	-397
+ Increase in Capital Stock	301	38	163	181	98	56	36	61	61	36	83	48	70	107	114
+ Decrease in Capital Stock	-48	-246	-973	-570	-482	-449	-419	-405	-413	-422	-460	-444	-541	-455	-511
+ Other Financing Activities	112	-63	35	24	3	-42	-76	-59	-32	-157	-133	-113	3	-164	-65
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	148	-330	-824	-269	-536	-500	-526	-320	-454	-392	-591	-274	-524	-492	-541
Effect of Foreign Exchange Rates	-2	-8	-4	2	6	14	34	-2	-6	13	-9	-2	-3	14	-4
Net Changes in Cash	187	141	-277	-24	-31	15	-39	16	48	-10	-36	21	1	-13	15
EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Cash Paid for Acquisitions	25	-290	28	186	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Free Cash Flow	970	1,019	854	938	1,108	845	1,083	1,374	1,409	1,233	1,322	1,435	1,399	1,394	1,433
Free Cash Flow to Firm	1,016	1,070	908	994	1,164	898	1,135	1,431	- -	1,306	1,391	1,505	1,468	1,468	1,516
Free Cash Flow to Equity	799	1,011	857	1,090	1,015	854	1,083	1,524	1,407	1,455	1,315	1,748	1,424	1,495	1,437
Free Cash Flow per Basic Share	5.19	5.57	5.26	6.47	8.05	6.47	8.66	11.45	12.11	10.92	12.1	13.53	13.71	14.24	15.07
Price/Free Cash Flow	3.76	4.73	5.55	5.27	6.44	8.28	6.3	6.36	7.49	6.46	8.33	6.57	6.57	8.22	7.66
Cash Flow to Net Income	2.41	1.99	1.66	1.78	2.12	1.59	2.12	2.54	0.98	1.82	1.79	2.02	1.93	1.92	1.53

Globe Life Inc.

GL US

79.71

79.71