Lincoln National Corporation (LNC)

Lincoln National Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Investments in Debt Securities	90,420	88,491	99,377	118,242	122,429	104,641
Investments in Equity & Preferred Securities	555	905	1,123	1,155	1,015	920
Policy Loans	2,510	2,476	2,359	2,364	2,426	2,477
Other Investments	36,244	33,452	15,030	3,977	3,713	2,725
Total Investments	152,791	146,646	139,688	148,189	150,847	131,786
Cash & Equivalents	6,013	3,365	3,343	2,612	1,708	2,563
Reinsurance Recoverable	29,233	29,843	19,953	20,295	16,496	17,144
Other Receivables	1,160	1,082	1,253	1,189	1,743	1,613
Deferred Policy Acquisition Cost	12,475	11,732	11,505	5,890	5,565	7,352
Separate Account Assets	171,483	158,257	143,536	182,583	167,965	153,566
Property, Plant & Equipment	-	123	154	184	257	361
Goodwill	1,144	1,144	1,144	1,778	1,778	1,778
Other Intangible Assets	-	34	38	42	49	53
Other Current Assets	10,656	9,564	8,347	13,248	9,991	9,948
Long-Term Deferred Charges	-	195	198	203	213	234
Other Long-Term Assets	11,885	10,428	5,172	10,732	9,336	8,363
Total Assets	396,840	372,413	334,331	386,945	365,948	334,761
Insurance & Annuity Liabilities	167,137	145,958	143,143	140,329	136,691	126,301
Unpaid Claims	-	5,566	5,335	6,280	5,934	5,552
Reinsurance Payable	17,595	17,641	5,740	-	1,946	1,810
Current Portion of Long-Term Debt	300	250	500	300	-	300
Current Portion of Leases	-	95	-	-	-	-
Long-Term Debt	6,182	6,764	7,166	7,150	7,676	6,734
Long-Term Leases	-	61	258	332	428	240
Separate Account Liability	171,483	158,257	143,536	182,583	167,965	153,566
Other Current Liabilities	-	9,077	4,783	6,131	3,986	2,912
Other Long-Term Liabilities	25,130	21,765	18,677	22,964	18,494	17,510
Total Liabilities	387,827	365,520	329,229	366,191	343,249	315,072
Preferred Stock, Redeemable	986	986	986	-	-	-
Common Stock	4,660	4,605	4,544	4,735	5,082	5,162
Retained Earnings	6,049	4,778	5,924	9,578	8,686	8,854
Comprehensive Income & Other	-2,682	-3,476	-6,352	6,441	8,931	5,673
Total Common Equity	8,027	5,907	4,116	20,754	22,699	19,689
Shareholders' Equity	9,013	6,893	5,102	20,754	22,699	19,689
Total Liabilities & Equity	396,840	372,413	334,331	386,945	365,948	334,761
Filing Date Shares Outstanding	170.34	169.67	169.22	172.45	191.96	195.37
Total Common Shares Outstanding	170.34	169.67	169.22	177.19	192.33	196.67
Total Debt	6,482	7,170	7,924	7,782	8,104	7,274
Net Cash (Debt)	-469	-3,805	-4,581	-5,170	-6,396	-4,711
Net Cash Per Share	-2.74	-22.44	-26.53	-27.26	-32.89	-23.31
Book Value Per Share	47.12	34.82	24.32	117.13	118.02	100.11
Tangible Book Value	6,883	4,729	2,934	18,934	20,872	17,858
Tangible Book Value Per Share	40.41	27.87	17.34	106.85	108.52	90.80

Source: S&P Capital IQ. Insurance template. Financial Sources.