Lincoln National Corporation (LNC) financial statements (2022 and earlier)
Company profile
| Business Address |
150 N RADNOR CHESTER RD RADNOR, PA 19087 |
| State of Incorp. | IN |
| Fiscal Year End | December 31 |
| SIC | 6311 - Life Insurance (benchmarking) |
| More info | Complete financial analysis Financial benchmarking |
Balance sheet (Statement of financial position) ($ in millions)
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 4,800 | 4,630 | 4,776 | 99 | 3,248 | 4,434 | 5,000 | ||
| Cash and cash equivalents | 1,628 | 2,722 | 3,146 | ||||||
| Short-term investments | 4,800 | 4,630 | 4,776 | 99 | 1,620 | 1,712 | 1,854 | ||
| Total current assets: | 4,800 | 4,630 | 4,776 | 99 | 3,248 | 4,434 | 5,000 | ||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset | 37 | 75 | ✕ | ✕ | ✕ | ✕ | |||
| Operating lease, right-of-use asset | 147 | 182 | 233 | ✕ | ✕ | ✕ | ✕ | ||
| Intangible assets, net (including goodwill) | 1,623 | 1,659 | 1,696 | 1,726 | 1,321 | 2,230 | 2,234 | ||
| Goodwill | 1,778 | 1,778 | 1,778 | 1,782 | 1,368 | 2,273 | 2,273 | ||
| Intangible assets, net (excluding goodwill) | (155) | (119) | (82) | (56) | (47) | (43) | (39) | ||
| Deferred costs | 254 | 229 | 202 | 170 | 182 | 159 | 151 | ||
| Total noncurrent assets: | 2,061 | 2,145 | 2,131 | 1,896 | 1,503 | 2,389 | 2,385 | ||
| Other undisclosed assets | 380,440 | 359,173 | 327,854 | 296,152 | 277,012 | 254,804 | 244,552 | ||
| TOTAL ASSETS: | 387,301 | 365,948 | 334,761 | 298,147 | 281,763 | 261,627 | 251,937 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Debt | 300 | 300 | 450 | ||||||
| Securities loaned | 6,519 | 3,986 | 2,921 | 1,308 | 1,542 | 1,563 | 2,140 | ||
| Total current liabilities: | 6,819 | 3,986 | 3,221 | 1,308 | 1,992 | 1,563 | 2,140 | ||
| Noncurrent Liabilities | |||||||||
| Other undisclosed liabilities | 360,210 | 339,263 | 311,851 | 282,489 | 262,449 | 245,586 | 236,180 | ||
| Total liabilities: | 367,029 | 343,249 | 315,072 | 283,797 | 264,441 | 247,149 | 238,320 | ||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent, including: | 20,272 | 22,699 | 19,689 | 14,350 | 17,322 | 14,478 | 13,617 | ||
| Accumulated other comprehensive income | 6,441 | 8,931 | 5,673 | 407 | 3,230 | 1,566 | 845 | ||
| Retained earnings | 9,096 | 8,686 | 8,854 | 8,551 | 8,399 | 7,043 | 6,474 | ||
| Other undisclosed stockholders' equity attributable to parent | 4,735 | 5,082 | 5,162 | 5,392 | 5,693 | 5,869 | 6,298 | ||
| Total stockholders' equity: | 20,272 | 22,699 | 19,689 | 14,350 | 17,322 | 14,478 | 13,617 | ||
| TOTAL LIABILITIES AND EQUITY: | 387,301 | 365,948 | 334,761 | 298,147 | 281,763 | 261,627 | 251,937 | ||
Income statement (P&L) ($ in millions)
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 19,230 | 17,439 | 17,258 | 16,424 | 14,257 | 13,330 | 13,572 | |
| Premiums earned, net | 5,617 | 5,372 | 5,513 | 4,601 | ✕ | ✕ | ✕ | |
| Net investment income | 6,115 | 5,510 | 5,223 | 5,085 | 4,990 | 4,874 | 4,827 | |
| Financial services revenue | ✕ | ✕ | ✕ | ✕ | 3,256 | 2,987 | 3,246 | |
| Cost of revenue | (11,444) | (11,600) | (10,660) | (9,403) | (7,750) | (7,256) | (7,552) | |
| Policyholder benefits and claims incurred, net | (8,529) | (8,677) | (7,880) | (6,786) | ✕ | ✕ | ✕ | |
| Policyholder account balance, interest expense | (2,915) | (2,923) | (2,780) | (2,617) | (2,590) | (2,564) | (2,508) | |
| Financial services costs | ✕ | ✕ | ✕ | ✕ | (5,160) | (4,692) | (5,044) | |
| Gross profit: | 7,786 | 5,839 | 6,598 | 7,021 | 6,507 | 6,074 | 6,020 | |
| Operating expenses | (5,791) | (5,064) | (5,287) | (4,763) | (5,081) | (4,277) | (4,318) | |
| Operating income: | 1,995 | 775 | 1,311 | 2,258 | 1,426 | 1,797 | 1,702 | |
| Interest and debt expense | (270) | (284) | (326) | (297) | (253) | (331) | (272) | |
| Other undisclosed loss from continuing operations before equity method investments, income taxes | (68) | (66) | (76) | (43) | (8) | |||
| Income from continuing operations before equity method investments, income taxes: | 1,725 | 423 | 919 | 1,885 | 1,130 | 1,458 | 1,430 | |
| Other undisclosed loss from continuing operations before income taxes | (87) | |||||||
| Income from continuing operations before income taxes: | 1,638 | 423 | 919 | 1,885 | 1,130 | 1,458 | 1,430 | |
| Income tax expense (benefit) | (233) | 76 | (33) | (244) | 949 | (266) | (276) | |
| Net income available to common stockholders, diluted: | 1,405 | 499 | 886 | 1,641 | 2,079 | 1,192 | 1,154 | |
Comprehensive Income ($ in millions)
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 1,405 | 499 | 886 | 1,641 | 2,079 | 1,192 | 1,154 | |
| Other comprehensive income (loss) | (2,490) | 3,258 | 5,266 | (3,465) | 1,664 | 721 | (2,251) | |
| Comprehensive income (loss), net of tax, attributable to parent: | (1,085) | 3,757 | 6,152 | (1,824) | 3,743 | 1,913 | (1,097) | |
Statements sources
The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.