LNC FY 2018 Earnings Report — Lincoln National Corporation Revenue & Financial Results | Market Cap Arena

Lincoln National CorporationLNC

FY 2018 Earnings

Reported February 20, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$16.4B	—	$14.3B	—	15.2%
Op. Income	$1.9B	—	$1.1B	—	66.8%
Gross Margin	28.6%	—	31.1%	—	-2.5pp
Net Margin	10.0%	—	14.6%	—	-4.6pp
EPS (Diluted)	$7.47	—	$9.22	—	-19.0%
Free Cash Flow	$1.9B	—	$788M	—	146.6%

Revenue Flow

Item	Amount
REVENUE	$16.4B
Cost of Revenue	$11.7B
GROSS PROFIT	$4.7B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$2.0B
SG&A Expenses	$2.0B
Other Expenses	$858M
Operating Expenses	$2.8B
Cost & Expenses	$14.5B
OPERATING INCOME	$1.9B
Interest Income	$0
Interest Expense	$297M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.9B
Income Tax Expense	$244M
Net Income from Continuing Ops	$1.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.6B
D&A	$9M
EBIT	$2.2B
EBITDA	$2.2B
EPS	$8
EPS Diluted	$7

Income Statement

Item	Amount
REVENUE	$16.4B
Cost of Revenue	$11.7B
GROSS PROFIT	$4.7B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$2.0B
SG&A Expenses	$2.0B
Other Expenses	$858M
Operating Expenses	$2.8B
Cost & Expenses	$14.5B
OPERATING INCOME	$1.9B
Interest Income	$0
Interest Expense	$297M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.9B
Income Tax Expense	$244M
Net Income from Continuing Ops	$1.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.6B
D&A	$9M
EBIT	$2.2B
EBITDA	$2.2B
EPS	$8
EPS Diluted	$7

Cash Flow Statement

Item	Amount
Net Income	$1.6B
Depreciation & Amortization	$0
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	-$179M
Change in Working Capital	$481M
OPERATING CASH FLOW	$1.9B
Capital Expenditure	-$1.8B
Acquisitions (Net)	-$1.4B
Purchases of Investments	-$13.0B
Sales/Maturities of Investments	$9.8B
Other Investing Activities	-$1.3B
NET CASH FROM INVESTING	-$5.8B
Net Debt Issuance	$645M
Common Stock Repurchased	-$900M
Common Dividends Paid	-$289M
Other Financing Activities	$5.1B
NET CASH FROM FINANCING	$4.6B
FREE CASH FLOW	$1.9B
Net Change in Cash	$717M

Balance Sheet

Item	Amount
Cash & Equivalents	$2.3B
Short-Term Investments	$94.0B
Net Receivables	$18.3B
Inventory	$0
Other Current Assets	$4.0B
TOTAL CURRENT ASSETS	$118.7B
PP&E (Net)	-$1.2B
Goodwill	$1.8B
Intangible Assets	$771M
Long-Term Investments	$96.1B
Tax Assets	$1.2B
Other Non-Current Assets	$81.6B
TOTAL NON-CURRENT ASSETS	$179.5B
TOTAL ASSETS	$298.1B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	-$4.8B
TOTAL CURRENT LIABILITIES	$278.0B
Long-Term Debt	$5.8B
Deferred Revenue NC	-$148.6B
Deferred Tax Liabilities	-$2.3B
Other Non-Current Liabilities	$278.0B
TOTAL NON-CURRENT LIABILITIES	$5.8B
TOTAL LIABILITIES	$283.8B
Common Stock	$5.4B
Additional Paid-In Capital	$0
Retained Earnings	$8.6B
Treasury Stock	$0
Accum. Other Comp. Income	$407M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$14.3B
Minority Interest	$0
TOTAL EQUITY	$14.3B
TOTAL LIABILITIES & EQUITY	$298.1B
Total Debt	$5.8B
Net Debt	$3.5B