LINCOLN NATIONAL CORPORATION LNC Income Statement

Lincoln national corporation (LNC)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09	Sep'09	Jun'09	Mar'09	Sep'08
Revenues
Insurance premiums
1,373	1,344	1,325	1,398	1,446	1,336	1,323	1,165	777	874	774	801	807	735	708	728	816	849	825	782	790	753	741	755	739	687	672	674	654	637	606	630	589	573	559	594	568	555	538	551	532	522	491	542	509	514
Fee income
1,539	1,571	1,934	1,517	1,475	1,510	1,550	1,470	1,456	1,471	1,401	1,393	1,354	1,345	1,376	1,288	1,235	1,115	1,469	1,239	1,222	1,225	1,216	1,134	1,098	1,096	1,032	983	958	958	990	885	903	855	864	900	818	884	769	793	788	764	766	691	701	754
Net investment income
1,375	1,382	1,235	1,355	1,251	1,349	1,271	1,232	1,233	1,251	1,239	1,262	1,238	1,244	1,259	1,199	1,172	1,199	1,254	1,187	1,187	1,232	1,212	1,207	1,208	1,211	1,180	1,213	1,150	1,189	1,146	1,197	1,166	1,129	1,151	1,181	1,191	1,183	1,132	1,120	1,106	1,123	1,071	971	1,013	1,068
Realized gain (loss):
Total other-than-temporary impairment losses on securities
-	1	2	4	23	2	2	1	2	1	9	4	4	31	22	36	56	23	23	14	20	5	6	5	10	18	22	20	20	65	47	50	97	304	-44	-47	-44	-60	-99	-11	-77	-87	-148	-221	-211	-237
Portion of loss recognized in other comprehensive income
-	0	0	0	15	-	-	-	-	-	1	0	0	46	9	8	-20	45	-5	-7	-7	1	-2	-2	-7	0	-3	-1	-6	-24	-15	-17	-50	-46	-18	16	3	10	53	0	24	15	68	103	89	0
Net other-than-temporary impairment losses on securities recognized in earnings
-	1	2	4	8	2	2	1	2	2	8	4	4	25	13	28	36	16	18	7	13	6	4	3	3	18	19	19	14	41	32	33	47	222	-26	-31	-41	-50	-46	-11	-53	-72	-80	-118	-122	-237
Realized gain (loss), excluding other-than-temporary impairment losses on securities
-24	-119	-9	-113	-354	193	-53	-6	14	-63	-48	-6	-35	-192	50	-17	-78	-124	45	17	-35	-100	93	38	-15	-13	-9	2	-45	87	102	76	-38	-98	-137	22	43	-41	89	16	27	-69	-286	-325	-74	30
Total realized gain (loss)
-24	-120	-11	-117	-362	191	-55	-7	12	-65	-56	-10	-39	-217	37	-45	-114	-140	27	10	-48	-	89	35	-18	-31	-28	-17	-59	46	70	43	-85	-464	163	9	-2	91	-43	-5	26	1,419	366	-443	-196	-207
Amortization of deferred gain on business sold through reinsurance
11	7	8	8	8	-	-	-	-	1	0	4	18	19	18	18	18	20	18	18	18	19	18	18	19	17	19	19	19	17	19	19	19	132	-19	-19	-19	-18	-19	-19	-19	-95	-18	18	19	19
Other revenues
151	161	147	149	147	136	175	160	131	137	153	127	122	129	127	119	116	128	123	145	135	562	135	133	130	142	134	127	117	126	123	124	118	118	117	122	120	121	112	117	108	113	102	104	86	122
Total revenues
4,425	4,345	4,638	4,310	3,965	4,531	4,264	4,020	3,609	3,669	3,511	3,577	3,500	3,255	3,525	3,307	3,243	3,171	3,716	3,381	3,304	3,685	3,411	3,282	3,176	3,122	3,009	2,999	2,839	2,973	2,954	2,898	2,710	-	-	2,807	2,718	2,670	2,613	2,605	2,527	2,402	2,082	1,883	2,132	2,270
Expenses
Interest credited
725	717	705	680	678	665	652	647	653	650	647	646	647	650	642	639	633	632	622	629	625	632	631	636	633	639	627	627	617	617	611	617	625	624	625	625	614	633	623	614	618	617	614	607	627	625
Benefits
2,501	1,769	2,502	1,852	1,757	2,141	1,626	1,661	1,358	1,322	1,261	1,287	1,290	1,231	922	1,208	1,331	1,261	1,327	1,220	1,236	1,405	1,117	1,079	1,078	968	945	991	958	935	810	943	853	819	664	1,027	835	786	924	838	779	761	577	575	921	813
Commissions and other expenses
1,085	1,287	1,552	1,272	1,176	1,162	1,367	1,177	1,057	1,107	1,020	1,034	1,015	1,040	1,283	978	976	859	1,432	1,014	1,013	1,150	995	963	971	980	928	898	895	952	1,047	828	856	798	1,024	674	768	1,017	689	754	714	695	762	694	643	642
Interest and debt expense
68	72	113	70	71	69	69	68	91	63	63	63	64	129	66	68	68	68	67	69	68	66	67	67	67	69	67	65	64	69	68	68	68	71	79	72	72	80	74	69	68	68	68	61	0	69
Strategic digitization expense
12	20	16	15	15	27	18	16	15	10	10	14	9	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment of intangibles
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	128	-1	-1	604	0
Total expenses
4,391	3,865	4,888	3,889	3,697	4,064	3,732	3,569	3,174	4,057	3,001	3,044	3,025	3,058	2,913	2,893	3,008	2,820	3,448	2,932	2,942	3,253	2,810	2,745	2,749	2,656	2,567	2,581	2,534	2,573	2,536	2,456	2,402	3,059	2,392	2,398	2,289	2,516	2,310	2,275	2,179	2,269	2,020	1,936	2,795	2,149
Income (loss) before taxes
34	480	-250	421	268	467	532	451	435	-388	510	533	475	197	612	414	235	351	268	449	362	432	601	537	427	466	442	418	305	400	418	442	308	-490	155	409	429	154	303	330	348	133	62	-53	-663	121
Federal income tax expense (benefit)
-18	48	-89	58	16	68	42	66	68	-1,203	92	122	40	8	145	89	24	68	41	105	62	84	162	139	98	115	105	101	66	79	18	121	64	60	-6	105	115	36	55	78	93	35	-19	-46	-76	-8
Income (loss) from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	321	400	321	244	-550	161	304	314	118	248	252	255	98	81	-7	-587	129
Income (loss) from discontinued operations, net of federal income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	28	0	-1	0	-8	0	0	0	-2	3	28	4	72	-154	8	19
Net income (loss)
52	432	-161	363	252	399	490	385	367	815	418	411	435	189	467	325	211	283	227	344	300	349	439	398	329	351	337	317	239	321	428	321	243	-550	153	304	314	118	246	255	283	102	153	-161	-579	148
Other comprehensive income (loss), net of tax
Other comprehensive income (loss), net of tax
-2,669	-575	1,912	1,883	2,046	-429	-365	-1,032	-1,639	371	148	864	281	-1,811	182	1,264	1,086	-818	-281	-1,709	557	174	-277	746	890	-187	-143	-1,688	-227	-343	771	757	-57	16	1,437	354	22	-	-	-	-	-	-	-	-	-
Comprehensive income (loss)
-2,617	-143	1,751	2,246	2,298	-30	125	-647	-1,272	1,186	566	1,275	716	-1,622	649	1,589	1,297	-535	-54	-1,365	857	523	162	1,144	1,219	164	194	-1,371	12	-22	1,199	1,078	186	-534	1,590	658	336	-	-	-	-	-	-	-	-	-
Net Income (Loss) Per Common Share - Basic
Preferred stock dividends and accretion of discount
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-149	-18	-19	-16	0	0	0
Net income (loss) available to common stockholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	118	246	106	265	83	137	-161	-579	148
Income (loss) from continuing operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.16	1.44	1.14	0.84	-1.76	0.53	0.98	1.00	0.36	0.79	0.34	0.79	0.52	0.21	-0.03	-2.30	0.51
Income (loss) from discontinued operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	0.10	0.00	0.00	0.00	-0.03	0.00	0.00	0.00	-0.01	0.01	0.09	0.07	0.24	-0.59	0.03	0.07
Basic (in dollars per share)
0.27	2.19	-0.81	1.80	1.23	1.89	2.27	1.76	1.68	3.70	1.89	1.84	1.93	0.83	2.02	1.37	0.87	1.15	0.91	1.37	1.17	1.35	1.69	1.52	1.25	1.32	1.28	1.19	0.89	1.16	1.54	1.14	0.84	-1.76	0.50	0.98	1.00	0.36	0.78	0.35	0.88	0.59	0.45	-0.62	-2.27	0.58
Net Income (Loss) Per Common Share - Diluted
Income (loss) from continuing operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.15	1.41	1.09	0.82	-1.70	0.50	0.95	0.97	0.37	0.76	0.32	0.76	0.52	0.21	-0.03	-2.30	0.51
Income (loss) from discontinued operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.01	0.10	0.00	0.00	0.00	-0.03	0.00	0.00	0.00	-0.01	0.01	0.09	0.08	0.23	-0.59	0.03	0.07
Diluted (in dollars per share)
0.15	2.20	-0.83	1.79	1.22	1.82	2.24	1.70	1.64	3.65	1.87	1.81	1.89	0.85	2.00	1.35	0.83	1.14	0.87	1.35	1.15	1.33	1.65	1.48	1.21	1.28	1.23	1.15	0.86	1.14	1.51	1.09	0.82	-1.70	0.47	0.95	0.97	0.37	0.75	0.33	0.85	0.60	0.44	-0.62	-2.27	0.58
Cash Dividends Declared Per Common Share
0.40	0.40	0.37	0.37	0.37	0.37	0.33	0.33	0.33	0.33	0.29	0.29	0.29	0.29	0.25	0.25	0.25	0.25	0.20	0.20	0.20	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-