Lincoln National Balance Sheet

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Debt Securities	95,752	95,124	89,136	91,097	103,234	123,171
Equity and Preferred Securities	475	636	294	306	427	375
Other Investments	42,510	43,148	40,488	32,928	27,993	30,340
Total Investments	138,737	138,908	129,918	124,331	131,654	153,886
Cash & Equivalents	7,345	9,502	5,801	3,365	3,343	2,612
Reinsurance Contract Assets	27,688	28,012	28,750	29,843	19,953	20,295
Deferred Acquisition Costs	12,886	12,827	12,537	12,397	12,235	6,083
Other Receivables	1,170	1,122	1,108	1,082	1,253	1,189
Goodwill	1,144	1,144	1,144	1,144	1,144	1,778
Other Assets	217,191	225,689	211,573	200,251	164,749	201,102
Total Assets	406,161	417,204	390,831	372,413	334,331	386,945
Claims Reserves	177,693	178,322	166,004	160,601	153,261	152,740
Reinsurance Contract Liabilities	17,564	17,922	16,907	17,641	5,740	-
Accounts Payable	6,556	7,954	10,020	8,105	6,712	8,946
Total Debt	6,369	6,266	6,156	5,949	6,455	6,625
Other Liabilities	187,767	195,834	183,475	173,224	157,061	197,880
Total Liabilities	395,949	406,298	382,562	365,520	329,229	366,191
Preferred Stock	986	986	986	986	986	-
Common Stock	5,602	5,592	4,674	4,605	4,544	4,735
Accumulated Other Comprehensive Income	-4,467	-4,058	-5,036	-3,476	-6,352	6,441
Retained Earnings	8,091	8,386	7,645	4,778	5,924	9,578
Shareholders' Equity	10,212	10,906	8,269	6,893	5,102	20,754
Total Liabilities & Equity	406,161	417,204	390,831	372,413	334,331	386,945
Book Value	10,212	10,906	8,269	6,893	5,102	20,754
Book Value Per Share	53.21	58.61	47.78	40.37	29.54	109.44
Tangible Book Value	9,068	9,762	7,125	5,749	3,958	18,976
Tangible Book Value Per Share	47.25	52.47	41.17	33.67	22.92	100.06

SEC Filings: 10-K · 10-Q