Lincoln national corporation (LNC)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10Dec'09Sep'09Jun'09Mar'09
Cash Flows from Operating Activities
Net income (loss)

52

432

-162

364

252

399

490

385

367

815

418

411

435

190

466

325

211

283

227

344

300

349

439

398

329

351

337

317

239

321

428

321

243

-549

153

303

314

117

246

256

283

102

153

-161

-579

Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Realized (gain) loss

-24

-119

-11

-118

-362

192

-56

-7

12

-65

-56

-10

-39

-218

38

-45

-114

-140

27

10

-48

-

90

34

-18

-30

-29

-17

-59

46

71

42

-85

-464

163

9

-2

91

-43

-5

26

141

1,644

-443

-196

Trading securities purchases, sales and maturities, net

235

29

-424

-906

-1,209

-280

29

94

39

38

23

37

23

40

15

85

28

25

35

74

12

86

198

14

11

61

27

51

12

98

57

52

15

55

7

21

5

32

-16

29

2

33

-71

-2

37

(Gain) loss on early extinguishment of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

128

0

0

-64

Amortization of deferred gain on business sold through reinsurance

11

8

8

7

8

-

-

-

-

1

0

4

18

18

18

19

18

19

18

19

18

19

18

18

19

18

19

18

19

18

19

18

19

131

-19

-18

-19

-19

-18

-19

-19

-20

-93

18

19

Deferred acquisition costs, value of business acquired, deferred sales inducements and deferred front-end loads deferrals and interest, net of amortization

-169

-163

-137

-39

-70

-167

89

-9

6

-22

8

15

15

-40

200

-22

5

-67

124

-134

-42

-171

-133

-118

-95

-174

-138

-140

-77

-123

18

-70

-44

-108

171

-184

-31

46

-100

-38

-48

-97

-54

-62

-103

Change in premiums and fees receivable

97

25

-113

-54

37

-22

18

7

84

26

5

-100

35

75

-15

-31

25

-7

-32

-37

-21

25

-17

-39

84

-7

-3

-10

60

14

-22

-49

29

25

13

-31

66

27

-9

-31

27

-254

80

9

37

Change in accrued investment income

37

-34

36

-38

65

-49

49

-42

59

-59

55

-42

62

-

-

-

38

-46

52

-65

80

-80

48

-35

87

-82

59

-26

63

-52

46

-5

45

-42

29

5

56

-56

44

5

51

204

-62

-18

-49

Change in future contract benefits and other contract holder funds

1,389

-879

264

-516

-348

892

-149

-744

-104

-568

-288

-583

-281

-217

-812

-257

262

301

673

-145

162

300

36

-45

233

-652

311

-85

-208

133

-384

264

-144

-16

-230

247

124

-28

67

286

318

-

-

-

-

Change in future contract benefits

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-141

-35

-233

Change in other contract holder funds

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-64

104

-2

Change in reinsurance related assets and liabilities

653

-354

31

158

299

-292

238

-777

113

-48

-172

79

13

-502

-71

61

286

-3

241

-164

178

19

-43

54

-21

-507

148

-53

112

62

-182

109

2

-144

138

5

67

-141

-134

114

139

-231

73

251

-170

Change in accrued expenses

-317

117

83

-37

-56

-174

163

-49

-41

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in federal income tax accruals

-18

4

-184

-63

16

68

42

-24

68

-1,273

-8

122

40

-74

146

35

-38

75

40

-26

-28

31

112

38

48

115

105

91

66

169

-179

15

187

63

-42

166

131

133

59

-113

315

36

-137

74

36

Impairment of intangibles

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

128

-1

-1

604

(Gain) loss on disposal of discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-1

0

-3

0

0

1

1

0

64

-439

-17

237

0

Other

-57

-157

-216

79

-131

-8

12

-20

-73

-5

-11

-118

34

86

-90

-384

83

-256

-6

54

99

291

10

11

-112

-14

1

-16

-88

-7

57

-53

34

-26

-53

48

7

30

-22

0

-31

121

-1

-30

-35

Net cash provided by (used in) operating activities

455

171

-295

-1,231

-1,331

909

402

492

140

179

407

93

109

592

144

238

298

756

905

286

296

1,431

724

108

263

295

449

306

-251

603

52

332

282

342

56

538

340

576

271

308

565

385

105

791

-344

Cash Flows from Investing Activities
Purchases of available-for-sale securities and equity securities

3,590

4,011

4,072

2,839

4,404

3,834

3,980

2,816

2,020

2,683

1,952

2,355

3,158

2,835

2,551

2,436

3,291

3,307

1,671

1,822

2,629

2,509

1,941

2,125

2,061

2,161

1,993

3,532

3,194

2,724

2,720

3,220

2,497

2,162

2,639

2,790

3,111

2,608

2,975

4,056

3,418

2,064

3,807

4,942

2,719

Sales of available-for-sale securities and equity securities

395

327

1,366

2,733

2,381

990

1,808

443

427

508

262

339

503

548

343

566

1,502

716

221

272

142

620

325

13

160

175

351

260

189

169

596

184

185

223

232

486

556

523

538

1,252

805

968

772

836

1,242

Maturities of available-for-sale securities

1,317

1,544

1,705

1,866

1,456

1,290

1,363

1,983

1,368

1,786

1,260

1,542

1,298

1,363

1,422

1,310

1,269

1,271

1,052

1,044

1,041

1,605

1,131

1,318

1,158

1,399

1,385

1,505

1,882

1,503

1,488

1,642

1,341

1,336

1,131

1,426

1,431

1,559

1,168

1,006

919

797

914

888

731

Purchases of other investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,939

3,769

3,646

-

1,521

784

538

676

697

541

629

927

20

568

830

1,080

501

846

855

1,191

1,145

551

694

1,029

668

1,363

1,201

Sales or maturities of other investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,557

3,654

3,455

-

1,145

807

645

709

656

672

573

654

171

671

780

758

809

787

740

932

864

748

695

819

579

531

2,411

Increase (decrease) in payables for collateral on investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

713

-458

634

-

282

52

281

-315

-699

145

-74

-385

-504

2,195

-858

-122

2,050

251

-105

-908

191

548

-79

-333

528

-674

-1,320

Sale of business, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

28

293

314

9

2

2

Purchases of alternative investments

79

89

160

10

174

80

88

83

63

129

104

71

53

80

93

58

71

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Sales and repayments of alternative investments

55

27

38

34

32

63

46

38

31

44

40

47

53

65

78

63

32

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Issuance of mortgage loans on real estate

839

803

1,173

1,183

1,103

892

725

764

546

716

637

364

341

753

446

535

421

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment and maturities of mortgage loans on real estate

227

405

351

165

242

243

329

252

261

335

278

342

229

293

273

194

182

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Issuance (repayment) of policy loans, net

94

3

-10

-14

-11

19

-17

-12

-11

-17

0

-16

-18

-20

-34

-27

-11

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net change in collateral on investments, derivatives and related settlements

3,411

-544

-221

356

488

713

-566

620

-32

-519

102

20

-32

-649

-410

1,368

106

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

61

67

70

62

62

49

65

47

32

47

29

21

16

26

22

32

26

5

21

20

32

-7

38

9

22

27

14

23

36

80

56

13

34

67

21

19

23

25

20

19

10

24

23

12

16

Net cash provided by (used in) investing activities

742

-3,214

-2,226

1,074

-1,133

-1,575

-1,867

-1,778

-595

-1,404

-780

-505

-1,499

-2,054

-1,372

467

-707

-2,076

-13

-1,099

-1,035

-83

-617

-728

-377

-896

-1,011

-1,514

-1,289

-1,790

-1,045

891

-1,913

-1,114

1,061

-705

-1,367

-1,718

-1,379

-1,044

-1,489

-552

-1,696

-4,734

-870

Cash Flows from Financing Activities
Payment of long-term debt, including current maturities

300

-

-

-

-

0

0

50

487

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

500

-

-

-

-

-

-

-

-

-

-

-

-

155

0

0

250

0

0

500

22

Notes issued

499

-

-

-

-

0

0

0

1,094

-

-

-

-

-

-

-

-

0

0

0

298

-

-

-

-

-

-

-

-

0

2

0

298

0

0

298

0

-

-

-

-

-

-

-

-

Payment related to early extinguishment of debt

-

-

-

-

-

0

0

0

23

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Increase (decrease) in commercial paper, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

2

-2

1

-50

-54

-483

371

Deposits of fixed account values, including the fixed portion of variable

3,917

4,505

3,678

3,844

4,042

4,212

3,510

3,151

2,765

3,172

2,409

2,503

2,713

2,621

2,417

2,343

2,672

3,102

2,701

2,502

2,464

3,175

2,329

2,403

2,481

2,645

2,572

2,758

2,517

3,082

2,633

2,588

2,391

2,766

2,852

2,765

2,570

2,833

3,115

2,750

2,382

2,573

3,010

3,183

2,612

Withdrawals of fixed account values, including the fixed portion of variable

1,684

1,465

1,409

1,405

1,570

1,541

1,459

1,509

1,498

1,516

1,375

1,404

1,530

1,367

1,369

1,356

1,413

1,592

1,399

1,727

1,408

1,678

1,397

1,322

1,443

1,386

1,397

1,232

1,281

1,588

1,492

1,291

1,320

1,300

1,235

1,315

1,200

1,447

1,375

1,232

1,251

9,812

-997

-1,695

-1,590

Transfers to and from separate accounts, net

-323

220

248

387

507

461

655

667

686

604

413

414

356

108

233

418

549

615

498

704

657

595

558

613

743

843

753

721

684

316

615

604

556

562

372

619

772

870

734

671

682

3,814

-538

-620

-408

Common stock issued for benefit plans

9

0

-4

-2

26

-1

-1

-1

9

-8

-5

-4

-29

-35

-2

1

10

-3

0

-32

-12

-

-

-

4

-

-

-

2

-2

-2

2

3

-9

1

0

5

-3

2

0

0

0

20

-12

-8

Repurchase of common stock

225

100

150

150

150

-

-

-

-

125

200

200

200

204

200

275

200

200

200

150

350

200

150

150

150

100

100

150

100

92

100

150

150

200

149

151

75

25

0

0

0

-

-

-

-

Dividends paid to common stockholders

79

76

74

76

77

72

72

73

72

64

66

67

65

58

58

62

60

51

51

50

52

44

42

42

42

31

32

32

33

24

21

23

23

13

17

15

16

3

3

21

15

15

8

2

54

Net cash provided by (used in) financing activities

2,442

2,667

2,146

1,878

1,712

1,551

1,150

804

1,084

888

360

467

591

740

559

231

440

694

553

-347

307

750

205

280

-401

315

638

675

417

1,044

109

518

637

450

803

863

502

336

955

991

185

875

2,379

1,018

901

Net increase (decrease) in cash, invested cash and restricted cash

3,639

-376

-375

1,721

-752

885

-315

-482

629

-337

-13

55

-799

-722

-669

936

31

-626

1,445

-1,160

-432

2,098

312

-340

-515

-286

76

-533

-1,123

-143

-884

1,741

-994

-322

1,920

696

-525

-806

-153

255

-739

708

788

-2,925

-313