Fixed maturities, net of allowance for credit losses

[Table of Contents](#ic55317410763413da1d4be4008f977bd_658)Globe Life Inc.Notes to Consolidated Financial Statements(Dollar amounts in thousands, except per share data)

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|  | At December 31, 2020 |
|  | AmortizedCost |  | Allowance for Credit Losses |  | GrossUnrealizedGains |  | GrossUnrealizedLosses |  | Fair Value(1) |  | % of TotalFixedMaturities(2) |
| Fixed maturities available for sale: |  |  |  |  |  |  |  |  |  |  |  |
| U.S. Government direct, guaranteed, and government-sponsored enterprises | $ | 380,602  |  |  | $ | —  |  |  | $ | 87,272  |  |  | $ | (43) |  |  | $ | 467,831  |  |  | 2  |  |
| States, municipalities, and political subdivisions | 1,880,607  |  |  | —  |  |  | 251,291  |  |  | (315) |  |  | 2,131,583  |  |  | 10  |  |
| Foreign governments | 52,913  |  |  | —  |  |  | 2,635  |  |  | (898) |  |  | 54,650  |  |  | —  |  |
| Corporates, by sector: |  |  |  |  |  |  |  |  |  |  |  |
| Financial | 4,404,203  |  |  | —  |  |  | 1,016,813  |  |  | (24,221) |  |  | 5,396,795  |  |  | 26  |  |
| Utilities | 1,975,460  |  |  | —  |  |  | 608,595  |  |  | (108) |  |  | 2,583,947  |  |  | 12  |  |
| Energy | 1,623,970  |  |  | (3,346) |  |  | 346,197  |  |  | (3,083) |  |  | 1,963,738  |  |  | 9  |  |
| Other corporate sectors | 6,687,644  |  |  | —  |  |  | 1,727,366  |  |  | (6,218) |  |  | 8,408,792  |  |  | 40  |  |
| Total corporates | 14,691,277  |  |  | (3,346) |  |  | 3,698,971  |  |  | (33,630) |  |  | 18,353,272  |  |  | 87  |  |
| Collateralized debt obligations | 57,007  |  |  | —  |  |  | 23,460  |  |  | (8,869) |  |  | 71,598  |  |  | —  |  |
| Other asset-backed securities | 134,739  |  |  | —  |  |  | 3,614  |  |  | (3,778) |  |  | 134,575  |  |  | 1  |  |
| Total fixed maturities  | $ | 17,197,145  |  |  | $ | (3,346) |  |  | $ | 4,067,243  |  |  | $ | (47,533) |  |  | $ | 21,213,509  |  |  | 100  |  |

(1)Amount reported in the balance sheet.(2)At fair value.  
A schedule of fixed maturities available for sale by contractual maturity date at December 31, 2021, is shown below on an amortized cost basis, net of allowance for credit losses, and on a fair value basis. Actual disposition dates could differ from contractual maturities due to call or prepayment provisions. 

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| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |
|  | At December 31, 2021 |
|  | AmortizedCost, net |  | FairValue |
| Fixed maturities available for sale: |  |  |  |
| Due in one year or less | $ | 98,115  |  |  | $ | 99,760  |  |
| Due after one year through five years | 900,326  |  |  | 995,569  |  |
| Due after five years through ten years | 1,757,273  |  |  | 2,083,816  |  |
| Due after ten years through twenty years | 6,862,449  |  |  | 8,653,145  |  |
| Due after twenty years | 8,045,149  |  |  | 9,301,053  |  |
| Mortgage-backed and asset-backed securities | 141,610  |  |  | 171,944  |  |
|  | $ | 17,804,922  |  |  | $ | 21,305,287  |  |

  
77 GL 2021 FORM 10-K
