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LINCOLN NATIONAL CORP (LNC)
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| Income Statement |
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Annual | Quarterly | TTM |
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| In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 |
| | 8-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
| Total revenues | 18,810.0 | 11,732.0 | 10,882.0 | 10,736.0 | 9,686.0 | 8,246.0 | 13,330.0 | 13,572.0 |
| Revenue growth | 60.3% | 7.8% | 1.4% | 10.8% | 17.5% | -38.1% | -1.8% | 0.1% |
| Loss and loss adjustment expenses | | 8,529.0 | 8,677.0 | 7,880.0 | 6,786.0 | 5,160.0 | 4,692.0 | 5,044.0 |
| Policy acquisition costs | 2,877.0 | | | | | | | |
| Investment expenses | | 153.0 | 175.0 | 231.0 | 186.0 | 179.0 | 158.0 | 125.0 |
| Other operating expenses | 13,925.0 | 1,412.0 | 1,607.0 | 1,706.0 | 829.0 | 1,777.0 | 6,691.0 | 6,701.0 |
| Equity in earnings | | | | | | | | |
| EBITDA | | | | | | | | |
| Depreciation | | | | | | | | |
| EBIT | 2,642.0 | 1,421.0 | 592.0 | 1,344.0 | 1,974.0 | 1,230.0 | 1,789.0 | 1,702.0 |
| EBIT margin | 14.0% | 12.1% | 5.4% | 12.5% | 20.4% | 14.9% | 13.4% | 12.5% |
| Interest income, net [+] | -283.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 331.0 | 272.0 |
| Interest expense | 283.0 | | | | | | 331.0 | 272.0 |
| Interest income | | | | | | | 662.0 | 544.0 |
| Other income (expense), net | | 217.0 | -169.0 | -425.0 | -89.0 | -100.0 | | |
| Pre-tax income | 1,725.0 | 1,638.0 | 423.0 | 919.0 | 1,885.0 | 1,130.0 | 1,458.0 | 1,430.0 |
| Income taxes | 0.0 | 233.0 | -76.0 | 33.0 | 244.0 | -949.0 | 266.0 | 276.0 |
| Tax rate | 0.0% | 14.2% | | 3.6% | 12.9% | | 18.2% | 19.3% |
| Net income | 0.0 | 1,405.0 | 499.0 | 886.0 | 1,641.0 | 2,079.0 | 1,192.0 | 1,154.0 |
| Net margin | 0.0% | 12.0% | 4.6% | 8.3% | 16.9% | 25.2% | 8.9% | 8.5% |
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| Basic EPS | | $7.50 | $2.58 | $4.42 | $7.60 | $9.36 | $5.09 | $4.60 |
| Diluted EPS | | $7.43 | $2.57 | $4.38 | $7.47 | $9.19 | $5.03 | $4.53 |
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| Shares outstanding (basic) | | 187.4 | 193.6 | 200.6 | 215.9 | 222.1 | 234.2 | 250.6 |
| Shares outstanding (diluted) | | 189.1 | 194.5 | 202.1 | 219.6 | 226.2 | 236.8 | 254.9 |
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| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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