Lincoln national corporation (LNC)
CashFlow / TTM
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)

686

886

853

1,505

1,526

1,641

2,057

1,985

2,011

2,079

1,454

1,502

1,416

1,192

1,285

1,046

1,065

1,154

1,220

1,432

1,486

1,515

1,517

1,415

1,334

1,244

1,214

1,305

1,309

1,313

443

168

150

221

887

980

933

902

887

794

377

-485

0

0

0

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

-272

-610

-299

-344

-233

141

-116

-116

-119

-170

-323

-229

-264

-339

-261

-272

-217

-151

0

0

0

-

76

-43

-94

-135

-59

41

100

74

-436

-344

-377

-294

261

55

41

69

119

1,806

1,368

1,146

0

0

0

Trading securities purchases, sales and maturities, net

-1,066

-2,510

-2,819

-2,366

-1,366

-118

200

194

137

121

123

115

163

168

153

173

162

146

207

370

310

309

284

113

150

151

188

218

219

222

179

129

98

88

65

42

50

47

48

-7

-38

-3

0

0

0

(Gain) loss on early extinguishment of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

64

0

0

0

Amortization of deferred gain on business sold through reinsurance

34

31

0

0

0

-

-

-

-

23

40

58

73

73

74

74

74

74

74

74

73

74

73

74

74

74

74

74

74

74

187

149

113

75

-75

-74

-75

-75

-76

-151

-114

-76

0

0

0

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

-508

-409

-413

-187

-157

-81

64

-17

7

16

-2

190

153

143

116

40

-72

-119

-223

-480

-464

-517

-520

-525

-547

-529

-478

-322

-252

-219

-204

-51

-165

-152

2

-269

-123

-140

-283

-237

-261

-316

0

0

0

Change in premiums and fees receivable

-45

-105

-152

-21

40

87

135

122

15

-34

15

-5

64

54

-28

-45

-51

-97

-65

-50

-52

53

21

35

64

40

61

42

3

-28

-17

18

36

73

75

53

53

14

-267

-178

-138

-128

0

0

0

Change in accrued investment income

1

29

14

27

23

17

7

13

13

16

0

0

0

-

-

-

-21

21

-13

-17

13

20

18

29

38

14

44

31

52

34

44

27

37

48

34

49

49

44

304

198

175

75

0

0

0

Change in future contract benefits and other contract holder funds

258

-1,479

292

-121

-349

-105

-1,565

-1,704

-1,543

-1,720

-1,369

-1,893

-1,567

-1,024

-506

979

1,091

991

990

353

453

524

-428

-153

-193

-634

151

-544

-195

-131

-280

-126

-143

125

113

410

449

643

0

0

0

-

-

-

-

Change in future contract benefits

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Change in other contract holder funds

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Change in reinsurance related assets and liabilities

488

134

196

403

-532

-718

-474

-884

-28

-128

-582

-481

-499

-226

273

585

360

252

274

-10

208

9

-517

-326

-433

-300

269

-61

101

-9

-215

105

1

66

69

-203

-94

-22

-112

95

232

-77

0

0

0

Change in accrued expenses

-154

107

-184

-104

-116

-101

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in federal income tax accruals

-261

-227

-163

63

102

154

-1,187

-1,237

-1,091

-1,119

80

234

147

69

218

112

51

61

17

89

153

229

313

306

359

377

431

147

71

192

86

223

374

318

388

489

210

394

297

101

288

9

0

0

0

Impairment of intangibles

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

730

0

0

0

(Gain) loss on disposal of discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1

-1

-4

-4

-3

-2

2

2

66

-374

-392

-155

-219

0

0

0

Other

-351

-425

-276

-48

-147

-89

-86

-109

-207

-100

-9

-88

-354

-305

-647

-563

-125

-109

438

454

411

200

-105

-114

-141

-117

-110

-54

-91

31

12

-98

3

-24

32

63

15

-23

68

89

59

55

0

0

0

Net cash provided by (used in) operating activities

-900

-2,686

-1,948

-1,251

472

1,943

1,213

1,218

819

788

1,201

938

1,083

1,272

1,436

2,197

2,245

2,243

2,918

2,737

2,559

2,526

1,390

1,115

1,313

799

1,107

710

736

1,269

1,008

1,012

1,218

1,276

1,510

1,725

1,495

1,720

1,529

1,363

1,846

937

0

0

0

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

14,512

15,326

15,149

15,057

15,034

12,650

11,499

9,471

9,010

10,148

10,300

10,899

10,980

11,113

11,585

10,705

10,091

9,429

8,631

8,901

9,204

8,636

8,288

8,340

9,747

10,880

11,443

12,170

11,858

11,161

10,599

10,518

10,088

10,702

11,148

11,484

12,750

13,057

12,513

13,345

14,231

13,532

0

0

0

Sales of available-for-sale securities and equity securities

4,821

6,807

7,470

7,912

5,622

3,668

3,186

1,640

1,536

1,612

1,652

1,733

1,960

2,959

3,127

3,005

2,711

1,351

1,255

1,359

1,100

1,118

673

699

946

975

969

1,214

1,138

1,134

1,188

824

1,126

1,497

1,797

2,103

2,869

3,118

3,563

3,797

3,381

3,818

0

0

0

Maturities of available-for-sale securities

6,432

6,571

6,317

5,975

6,092

6,004

6,500

6,397

5,956

5,886

5,463

5,625

5,393

5,364

5,272

4,902

4,636

4,408

4,742

4,821

5,095

5,212

5,006

5,260

5,447

6,171

6,275

6,378

6,515

5,974

5,807

5,450

5,234

5,324

5,547

5,584

5,164

4,652

3,890

3,636

3,518

3,330

0

0

0

Purchases of other investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

3,519

2,695

2,452

2,543

2,794

2,117

2,144

2,345

2,498

2,979

3,257

3,282

3,393

4,037

3,742

3,581

3,419

2,942

3,754

4,261

0

0

0

Sales or maturities of other investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

3,306

2,817

2,682

2,610

2,555

2,070

2,069

2,276

2,380

3,018

3,134

3,094

3,268

3,323

3,284

3,239

3,126

2,841

2,624

4,340

0

0

0

Increase (decrease) in payables for collateral on investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

300

-681

-588

-943

-1,013

-818

1,232

448

711

3,265

1,321

2,074

1,288

-571

-274

-248

327

664

-558

-1,799

0

0

0

Sale of business, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

321

635

644

618

327

0

0

0

Purchases of alternative investments

338

433

424

352

425

314

363

379

367

357

308

297

284

302

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Sales and repayments of alternative investments

154

131

167

175

179

178

159

153

162

184

205

243

259

238

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Issuance of mortgage loans on real estate

3,998

4,262

4,351

3,903

3,484

2,927

2,751

2,663

2,263

2,058

2,095

1,904

2,075

2,155

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment and maturities of mortgage loans on real estate

1,148

1,163

1,001

979

1,066

1,085

1,177

1,126

1,216

1,184

1,142

1,137

989

942

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Issuance (repayment) of policy loans, net

73

-32

-16

-23

-21

-21

-57

-40

-44

-51

-54

-88

-99

-92

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net change in collateral on investments, derivatives and related settlements

3,002

79

1,336

991

1,255

735

-497

171

-429

-429

-559

-1,071

277

415

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

260

261

243

238

223

193

191

155

129

113

92

85

96

106

85

84

72

78

66

83

72

62

96

72

86

100

153

195

185

183

170

135

141

130

88

87

87

74

73

76

69

75

0

0

0

Net cash provided by (used in) investing activities

-3,624

-5,499

-3,860

-3,501

-6,353

-5,815

-5,644

-4,557

-3,284

-4,188

-4,838

-5,430

-4,458

-3,666

-3,688

-2,329

-3,895

-4,223

-2,230

-2,834

-2,463

-1,805

-2,618

-3,012

-3,798

-4,710

-5,604

-5,638

-3,233

-3,857

-3,181

-1,075

-2,671

-2,125

-2,729

-5,169

-5,508

-5,630

-4,464

-4,781

-8,471

-7,852

0

0

0

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

0

-

-

-

-

537

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

500

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

405

250

250

750

522

0

0

0

Notes issued

0

-

-

-

-

1,094

0

0

0

-

-

-

-

-

-

-

-

298

0

0

0

-

-

-

-

-

-

-

-

300

300

298

596

298

0

0

0

-

-

-

-

-

-

-

-

Payment related to early extinguishment of debt

-

-

-

-

-

23

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Increase (decrease) in commercial paper, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

-49

-105

-586

-216

0

0

0

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

15,944

16,069

15,776

15,608

14,915

13,638

12,598

11,497

10,849

10,797

10,246

10,254

10,094

10,053

10,534

10,818

10,977

10,769

10,842

10,470

10,371

10,388

9,858

10,101

10,456

10,492

10,929

10,990

10,820

10,694

10,378

10,597

10,774

10,953

11,020

11,283

11,268

11,080

10,820

10,715

11,148

11,378

0

0

0

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

5,963

5,849

5,925

5,975

6,079

6,007

5,982

5,898

5,793

5,825

5,676

5,670

5,622

5,505

5,730

5,760

6,131

6,126

6,212

6,210

5,805

5,840

5,548

5,548

5,458

5,296

5,498

5,593

5,652

5,691

5,403

5,146

5,170

5,050

5,197

5,337

5,254

5,305

13,670

11,298

8,371

5,530

0

0

0

Transfers to and from separate accounts, net

532

1,362

1,603

2,010

2,290

2,469

2,612

2,370

2,117

1,787

1,291

1,111

1,115

1,308

1,815

2,080

2,366

2,474

2,454

2,514

2,423

2,509

2,757

2,952

3,060

3,001

2,474

2,336

2,219

2,091

2,337

2,094

2,109

2,325

2,633

2,995

3,047

2,957

5,901

4,629

3,338

2,248

0

0

0

Common stock issued for benefit plans

3

20

19

22

23

6

-1

-5

-8

-46

-73

-70

-65

-26

6

8

-25

-47

0

0

0

-

-

-

0

-

-

-

0

1

-6

-3

-5

-3

3

4

4

-1

2

20

8

0

0

0

0

Repurchase of common stock

625

550

0

0

0

-

-

-

-

725

804

804

879

879

875

875

750

900

900

850

850

650

550

500

500

450

442

442

442

492

600

649

650

575

400

251

100

25

0

0

0

-

-

-

-

Dividends paid to common stockholders

305

303

299

297

294

289

281

275

269

262

256

248

243

238

231

224

212

204

197

188

180

170

157

147

137

128

121

110

101

91

80

76

68

61

51

37

43

42

54

59

40

79

0

0

0

Net cash provided by (used in) financing activities

9,133

8,403

7,287

6,291

5,217

4,589

3,926

3,136

2,799

2,306

2,158

2,357

2,121

1,970

1,924

1,918

1,340

1,207

1,263

915

1,542

834

399

832

1,227

2,045

2,774

2,245

2,088

2,308

1,714

2,408

2,753

2,618

2,504

2,656

2,784

2,467

3,006

4,430

4,457

5,173

0

0

0

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

4,609

218

1,479

1,539

-664

717

-505

-203

334

-1,094

-1,479

-2,135

-1,254

-424

-328

1,786

-310

-773

1,951

818

1,638

1,555

-829

-1,065

-1,258

-1,866

-1,723

-2,683

-409

-280

-459

2,345

1,300

1,769

1,285

-788

-1,229

-1,443

71

1,012

-2,168

-1,742

0

0

0