LNC FY 2016 Earnings Report — Lincoln National Corporation Revenue & Financial Results | Market Cap Arena

Lincoln National CorporationLNC

FY 2016 Earnings

Reported February 23, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$13.3B	—	$13.6B	—	-1.7%
Op. Income	$1.5B	—	$1.4B	—	2.0%
Gross Margin	28.6%	—	27.5%	—	1.1pp
Net Margin	8.9%	—	8.5%	—	0.4pp
EPS (Diluted)	$5.03	—	$4.51	—	11.5%
Free Cash Flow	$1.3B	—	$2.2B	—	-43.3%

Revenue Flow

Item	Amount
REVENUE	$13.3B
Cost of Revenue	$9.5B
GROSS PROFIT	$3.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.7B
SG&A Expenses	$1.7B
Other Expenses	$671M
Operating Expenses	$2.4B
Cost & Expenses	$11.9B
OPERATING INCOME	$1.5B
Interest Income	$0
Interest Expense	$331M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$266M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.2B
D&A	$4M
EBIT	$1.8B
EBITDA	$1.8B
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$13.3B
Cost of Revenue	$9.5B
GROSS PROFIT	$3.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.7B
SG&A Expenses	$1.7B
Other Expenses	$671M
Operating Expenses	$2.4B
Cost & Expenses	$11.9B
OPERATING INCOME	$1.5B
Interest Income	$0
Interest Expense	$331M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$266M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.2B
D&A	$4M
EBIT	$1.8B
EBITDA	$1.8B
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$1.2B
Depreciation & Amortization	$0
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$739M
Change in Working Capital	-$659M
OPERATING CASH FLOW	$1.3B
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$11.4B
Sales/Maturities of Investments	$8.6B
Other Investing Activities	-$812M
NET CASH FROM INVESTING	-$3.7B
Net Debt Issuance	-$120M
Common Stock Repurchased	-$879M
Common Dividends Paid	-$238M
Other Financing Activities	$3.2B
NET CASH FROM FINANCING	$2.0B
FREE CASH FLOW	$1.3B
Net Change in Cash	-$424M

Balance Sheet

Item	Amount
Cash & Equivalents	$2.7B
Short-Term Investments	$89.5B
Net Receivables	$5.7B
Inventory	$0
Other Current Assets	$12.6B
TOTAL CURRENT ASSETS	$110.5B
PP&E (Net)	-$1.8B
Goodwill	$2.3B
Intangible Assets	$148M
Long-Term Investments	$91.2B
Tax Assets	$1.8B
Other Non-Current Assets	$57.6B
TOTAL NON-CURRENT ASSETS	$151.1B
TOTAL ASSETS	$261.6B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	-$5.0B
TOTAL CURRENT LIABILITIES	$241.8B
Long-Term Debt	$5.3B
Deferred Revenue NC	$24M
Deferred Tax Liabilities	-$4.3B
Other Non-Current Liabilities	-$24M
TOTAL NON-CURRENT LIABILITIES	$5.3B
TOTAL LIABILITIES	$247.1B
Common Stock	$5.9B
Additional Paid-In Capital	$0
Retained Earnings	$7.0B
Treasury Stock	$0
Accum. Other Comp. Income	$1.6B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$14.5B
Minority Interest	$0
TOTAL EQUITY	$14.5B
TOTAL LIABILITIES & EQUITY	$261.6B
Total Debt	$5.3B
Net Debt	$2.6B