| Cash Flow | 2025-09-30 | 2025-06-30 |
|---|---|---|
| Operating revenues | 14,190 | - |
| Benefits and policyholder liability remeasurement (gain) loss | 5,847 | - |
| Interest credited | 2,759 | - |
| Commissions | 1,738 | - |
| General and administrative expenses | 1,892 | - |
| Annuities Segment-Operating Segments | 0 | - |
| Life Segment-Operating Segments | 0 | - |
| Group Protection Segment-Operating Segments | 0 | - |
| Operating Segments-Retirement Plan Services Segment | 0 | - |
| Corporate Non Segment | 240 | - |
| Interest and debt expense | 240 | - |
| Other | 328 | - |
| Total operating expenses | 12,804 | - |
| Annuities Segment-Operating Segments | 160 | - |
| Life Segment-Operating Segments | -14 | - |
| Group Protection Segment-Operating Segments | 113 | - |
| Operating Segments-Retirement Plan Services Segment | 18 | - |
| Corporate Non Segment | -74 | - |
| Total federal income tax expense (benefit) | 203 | - |
| Total income (loss) from operations-Operating Segments And Corporate Non Segment | 1,183 | - |
| Net annuity product features, pre-tax | -277 | - |
| Net life insurance product features, pre-tax | -37 | - |
| Credit loss-related adjustments, pre-tax | -91 | - |
| Investment gains (losses), pre-tax | -218 | - |
| Changes in the fair value of reinsurance-related embedded derivatives, trading securities and certain mortgage loans, pre-tax | -266 | - |
| Other items, pre-tax | -65 | - |
| Income tax benefit (expense) related to the above pre-tax items | 194 | - |
| Net income (loss) | 423 | -23 |
| Gross gains | 17 | - |
| Gross losses | 190 | - |
| Credit loss benefit (expense) | 65 | - |
| Realized gain (loss) on equity securities | -2 | - |
| Credit loss benefit (expense) on mortgage loans on real estate | 16 | - |
| Credit loss benefit (expense) on reinsurance-related assets | 9 | - |
| Realized gain (loss) on the market-to-market on certain instruments | -406 | - |
| Indexed product derivative results | 28 | - |
| Derivative results | -216 | - |
| Gain on disposition of business | 0 | - |
| Other realized gain (loss) | 12 | - |
| Realized (gain) loss | -847 | -631 |
| Market risk benefit (gain) loss | -10 | -353 |
| Sales and maturities (purchases) of trading securities, net | 653 | 583 |
| Early extinguishment of debt (gain) loss | 94 | 94 |
| Deferred acquisition costs, value of business acquired, deferred ales inducements and deferred front-end loads | 482 | 326 |
| Accrued investment income | 48 | 36 |
| Insurance liabilities and reinsurance-related balances | 1,552 | 154 |
| Accrued expenses | 16 | -156 |
| Federal income tax accruals | -56 | -123 |
| Other | 1,081 | 566 |
| Net cash provided by (used in) operating activities | -400 | 741 |
| Purchases of available-for-sale securities and equity securities | 12,192 | - |
| Sales of available-for-sale securities and equity securities | 2,595 | 1,590 |
| Maturities of available-for-sale securities | 8,413 | 5,197 |
| Purchases of other investments | 1,556 | - |
| Sales and repayments of other investments | 858 | - |
| Issuance of mortgage loans on real estate | 2,805 | 2,006 |
| Sales and repayments of alternative investments | - | 574 |
| Purchases of available-for-sale securities and equity securities | - | 7,785 |
| Repayment and maturities of mortgage loans on real estate | 1,778 | 1,148 |
| Purchases of alternative investments | - | 686 |
| Repayment (issuance) of policy loans, net | 108 | 76 |
| Net change in collateral on investments, certain derivatives and related settlements | 2,801 | -306 |
| Cash received from disposition, net of cash transferred | 0 | 0 |
| Other | -116 | -38 |
| Net cash provided by (used in) investing activities | -100 | -2,312 |
| Payment of long-term debt, including current maturities | 300 | 300 |
| Issuance of long-term debt, net of issuance costs | 0 | 0 |
| Payment related to early extinguishment of debt | 421 | 421 |
| Payment related to sale-leaseback transactions | 5 | 4 |
| Proceeds from certain financing arrangements | 33 | 33 |
| Payment related to certain financing arrangements | 98 | 84 |
| Deposits | 15,394 | 9,623 |
| Withdrawals | 9,256 | 6,250 |
| Transfers from (to) separate accounts, net | 490 | 303 |
| Issuance of common stock | 825 | 825 |
| Common stock issued for benefit plans | -4 | 7 |
| Dividends paid to preferred stockholders | 80 | 46 |
| Dividends paid to common stockholders | 239 | 153 |
| Net cash provided by (used in) financing activities | 5,367 | 2,913 |
| Net increase (decrease) in cash, invested cash and restricted cash | 4,867 | 1,342 |
| Cash and cash equivalents at beginning of period | 5,801 | - |
| Cash and cash equivalents at end of period | 10,668 | - |
LINCOLN NATIONAL CORP (LNC)
LINCOLN NATIONAL CORP (LNC)