LNC · XBRL financial data
Lincoln National financial statements, every fiscal year
The same tables from 9 filings, lined up. Matched by XBRL tag: renamed lines keep their history.
How these numbers work
- Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
- Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
- * marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
- 0 means a filing states zero; a dash (—) means no filing states that number.
- “year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
- Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
- Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
- Shares outstanding come from each filing's cover page, as of the date printed there.
- Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.
Income statement
CSVFiscal years (LNC's year ends in late December)
| In millions of dollars | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|---|
| Revenue | 17,439 | 19,230 | 18,766 | 11,645 | 18,442 | 18,212 |
| General and administrative | 2,072 | 2,251 | 2,241 | 2,390 | 2,738 | 2,647 |
| Interest expense | 284 | 270 | 283 | 331 | 336 | 227 |
| Income tax expense (benefit) | (76) | 233 | (589) | (396) | 747 | 161 |
| Net income (loss) | 499 | 1,405 | (2,241) | (752) | 3,275 | 1,177 |
| Earnings per share, basic USD per share | 2.58 | 7.50 | (13.11) | (4.92) | 18.66 | 5.94 |
| Earnings per share, diluted USD per share | 2.56 | 7.43 | (13.19) | (4.92) | 18.41 | 5.83 |
| Weighted average shares, basic millions of shares | 194 | 187 | 171 | 170 | 171 | 183 |
| Weighted average shares, diluted millions of shares | 194 | 189 | 173 | 171 | 173 | 186 |
Balance sheet
CSVFiscal years (LNC's year ends in late December)
| In millions of dollars | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 1,708 | 2,612 | 3,343 | 3,365 | 5,801 | 9,502 |
| Right-of-use asset | 182 | 147 | 140 | 118 | 85 | 58 |
| Goodwill | 1,778 | 1,778 | 1,144 | 1,144 | 1,144 | 1,144 |
| Total assets | 365,948 | 387,301 | 335,108 | 372,413 | 390,831 | 417,204 |
| Current portion of long-term debt | — | 300 | 500 | 250 | 300 | 400 |
| Long-term debt | 6,682 | 6,625 | — | — | — | — |
| Total liabilities | 343,249 | 367,029 | 330,539 | 365,520 | 382,562 | 406,298 |
| Retained earnings | 8,686 | 9,096 | 6,707 | 4,778 | 7,645 | 8,386 |
| Total stockholders' equity | 22,699 | 20,272 | 4,569 | 6,893 | 8,269 | 10,906 |
| Total liabilities and equity | 365,948 | 387,301 | 335,108 | 372,413 | 390,831 | 417,204 |
| Common shares outstanding (cover page) millions of shares | 192 | 172 | 169 | 170 | 170 | 190 |
Cash flows
CSVFiscal years (LNC's year ends in late December)
| In millions of dollars | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|---|
| Net income (loss) | 499 | 1,405 | (2,241) | (752) | 3,275 | 1,177 |
| Net cash from operating activities | 534 | 151 | 4,036 | (2,074) | (2,007) | (167) |
| Net cash from investing activities | (9,481) | (3,567) | (11,646) | (3,334) | 821 | (4,013) |
| Proceeds from issuing common stock | — | — | — | 0 | 0 | 825 |
| Share repurchases | 275 | 1,105 | 550 | 0 | 0 | — |
| Dividends paid | 311 | 319 | 310 | 305 | 307 | 325 |
| Proceeds from long-term debt | 1,289 | 0 | 296 | 0 | 346 | 495 |
| Repayments of long-term debt | 1,096 | 0 | 300 | 500 | 100 | 300 |
| Net cash from financing activities | 8,092 | 4,320 | 8,341 | 5,430 | 3,622 | 7,881 |
| Net change in cash | — | 904 | 731 | 22 | 2,436 | 3,701 |
Compare with peers
SIC 6311 and related industry codes, similar size. Each row is the latest quarter reported.
How peers are chosen
- SIC 6311 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
- Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
- Runway shows only for companies burning cash with under $10B of public float.
- * marks a quarter worked out from the filing totals: for a 10-Q, the year-to-date total less the earlier one.
| Company | Cash ($M) | Revenue, quarter ($M) | Operating cash flow, quarter ($M) | Shares outstanding | Runway | Quarter |
|---|---|---|---|---|---|---|
| Lincoln National | 10,165 | 4,542 | (558)* | 191.4M | 18.2 quarters | 10-QJun 30, 2026 |
| Voya Financial | 1,085 | 1,896 | 503* | 90.6M | — | 10-QJun 30, 2026 |
| Corebridge Financial | 453 | 6,164 | 605* | 438.5M | — | 10-QSep 30, 2026 |
| Primerica | 600 | 865 | 194* | 30.8M | — | 10-QJun 30, 2026 |
| Jackson Financial | 4,101 | 1,542 | 1,417* | 66.1M | — | 10-QSep 30, 2026 |
| Globe Life | 257 | 1,600 | 314* | 76.8M | — | 10-QJun 30, 2026 |
| Reinsurance Group of America | 5,288 | 6,637 | (484)* | 65.3M | — | 10-QJun 30, 2026 |
| Athene Holding | 23,711 | 9,152 | 1,796* | 203,805 | — | 10-QJun 30, 2026 |
| Genworth Financial | 1,986 | 1,901 | 52* | 377.9M | — | 10-QJun 30, 2026 |
Not investment advice. Not affiliated with the U.S. SEC.