GL FY 2020 Earnings Report — Globe Life Inc. Revenue & Financial Results | Market Cap Arena

Globe Life Inc.GL

FY 2020 Earnings

Reported February 25, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$4.7B	—	$4.5B	—	4.7%
Op. Income	$897M	—	$931M	—	-3.7%
Gross Margin	27.1%	—	29.1%	—	-2.1pp
Net Margin	15.4%	—	16.8%	—	-1.4pp
EPS (Diluted)	$6.82	—	$6.83	—	-0.1%
Free Cash Flow	$1.4B	—	$1.3B	—	8.6%

Revenue Flow

Item	Amount
REVENUE	$4.7B
Cost of Revenue	$3.5B
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$287M
SG&A Expenses	$287M
Other Expenses	$101M
Operating Expenses	$387M
Cost & Expenses	$3.8B
OPERATING INCOME	$897M
Interest Income	$0
Interest Expense	$87M
Other Income/Expenses	$0
INCOME BEFORE TAX	$897M
Income Tax Expense	$165M
Net Income from Continuing Ops	$732M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$732M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$732M
D&A	$0
EBIT	$983M
EBITDA	$983M
EPS	$7
EPS Diluted	$7

Income Statement

Item	Amount
REVENUE	$4.7B
Cost of Revenue	$3.5B
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$287M
SG&A Expenses	$287M
Other Expenses	$101M
Operating Expenses	$387M
Cost & Expenses	$3.8B
OPERATING INCOME	$897M
Interest Income	$0
Interest Expense	$87M
Other Income/Expenses	$0
INCOME BEFORE TAX	$897M
Income Tax Expense	$165M
Net Income from Continuing Ops	$732M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$732M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$732M
D&A	$0
EBIT	$983M
EBITDA	$983M
EPS	$7
EPS Diluted	$7

Cash Flow Statement

Item	Amount
Net Income	$732M
Depreciation & Amortization	$0
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	-$155M
Change in Working Capital	$899M
OPERATING CASH FLOW	$1.5B
Capital Expenditure	-$42M
Acquisitions (Net)	$0
Purchases of Investments	-$1.6B
Sales/Maturities of Investments	$512M
Other Investing Activities	-$7M
NET CASH FROM INVESTING	-$1.2B
Net Debt Issuance	$273M
Common Stock Repurchased	-$444M
Common Dividends Paid	-$78M
Other Financing Activities	-$73M
NET CASH FROM FINANCING	-$274M
FREE CASH FLOW	$1.4B
Net Change in Cash	$19M

Balance Sheet

Item	Amount
Cash & Equivalents	$95M
Short-Term Investments	$21.3B
Net Receivables	$474M
Inventory	$0
Other Current Assets	-$21.9B
TOTAL CURRENT ASSETS	$0
PP&E (Net)	$186M
Goodwill	$442M
Intangible Assets	$0
Long-Term Investments	$21.3B
Tax Assets	$0
Other Non-Current Assets	-$21.9B
TOTAL NON-CURRENT ASSETS	$0
TOTAL ASSETS	$29.0B
Account Payables	$400M
Short-Term Debt	$255M
Deferred Revenue	$0
Other Current Liabilities	-$2.5B
TOTAL CURRENT LIABILITIES	$0
Long-Term Debt	$1.7B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	-$1.7B
TOTAL NON-CURRENT LIABILITIES	$0
TOTAL LIABILITIES	$20.3B
Common Stock	$113M
Additional Paid-In Capital	$527M
Retained Earnings	$5.9B
Treasury Stock	-$773M
Accum. Other Comp. Income	$3.0B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$8.8B
Minority Interest	$0
TOTAL EQUITY	$8.8B
TOTAL LIABILITIES & EQUITY	$29.0B
Total Debt	$1.9B
Net Debt	$1.8B