LNC FY 2022 Earnings Report — Lincoln National Corporation Revenue & Financial Results | Market Cap Arena

Lincoln National CorporationLNC

FY 2022 Earnings

Reported February 16, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$18.9B	—	$17.6B	—	7.5%
Op. Income	$1.7B	—	$4.6B	—	-62.8%
Gross Margin	12.9%	—	22.2%	—	-9.3pp
Net Margin	7.2%	—	21.5%	—	-14.3pp
EPS (Diluted)	$7.78	—	$7.43	—	4.7%
Free Cash Flow	$3.6B	—	-$217M	—	1763.1%

Revenue Flow

Item	Amount
REVENUE	$18.9B
Cost of Revenue	$16.5B
GROSS PROFIT	$2.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$2.4B
SG&A Expenses	$2.4B
Other Expenses	-$1.7B
Operating Expenses	$709M
Cost & Expenses	$17.2B
OPERATING INCOME	$1.7B
Interest Income	$0
Interest Expense	$283M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.7B
Income Tax Expense	$367M
Net Income from Continuing Ops	$1.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.4B
Net Income Deductions	$13M
BOTTOM LINE NET INCOME	$1.3B
D&A	$65M
EBIT	$2.0B
EBITDA	$2.1B
EPS	$8
EPS Diluted	$8

Income Statement

Item	Amount
REVENUE	$18.9B
Cost of Revenue	$16.5B
GROSS PROFIT	$2.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$2.4B
SG&A Expenses	$2.4B
Other Expenses	-$1.7B
Operating Expenses	$709M
Cost & Expenses	$17.2B
OPERATING INCOME	$1.7B
Interest Income	$0
Interest Expense	$283M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.7B
Income Tax Expense	$367M
Net Income from Continuing Ops	$1.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.4B
Net Income Deductions	$13M
BOTTOM LINE NET INCOME	$1.3B
D&A	$65M
EBIT	$2.0B
EBITDA	$2.1B
EPS	$8
EPS Diluted	$8

Cash Flow Statement

Item	Amount
Net Income	$1.4B
Depreciation & Amortization	$0
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	-$2.9B
Change in Working Capital	$5.1B
OPERATING CASH FLOW	$3.6B
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$15.5B
Sales/Maturities of Investments	$8.2B
Other Investing Activities	-$4.4B
NET CASH FROM INVESTING	-$11.6B
Net Debt Issuance	$112M
Common Stock Repurchased	-$550M
Common Dividends Paid	-$310M
Other Financing Activities	$8.5B
NET CASH FROM FINANCING	$8.8B
FREE CASH FLOW	$3.6B
Net Change in Cash	$731M

Balance Sheet

Item	Amount
Cash & Equivalents	$3.3B
Short-Term Investments	$99.7B
Net Receivables	$20.0B
Inventory	-$7.5B
Other Current Assets	$7.4B
TOTAL CURRENT ASSETS	$123.0B
PP&E (Net)	$154M
Goodwill	$1.1B
Intangible Assets	$904M
Long-Term Investments	$24.8B
Tax Assets	$4.0B
Other Non-Current Assets	$303.3B
TOTAL NON-CURRENT ASSETS	$334.3B
TOTAL ASSETS	$334.2B
Account Payables	$0
Short-Term Debt	$500M
Deferred Revenue	$0
Other Current Liabilities	-$6.5B
TOTAL CURRENT LIABILITIES	$750M
Long-Term Debt	$6.1B
Deferred Revenue NC	$5.1B
Deferred Tax Liabilities	-$2.4B
Other Non-Current Liabilities	$322.1B
TOTAL NON-CURRENT LIABILITIES	$750M
TOTAL LIABILITIES	$329.1B
Common Stock	$4.5B
Additional Paid-In Capital	$0
Retained Earnings	$5.9B
Treasury Stock	$0
Accum. Other Comp. Income	-$6.4B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$5.1B
Minority Interest	$0
TOTAL EQUITY	$5.1B
TOTAL LIABILITIES & EQUITY	$334.2B
Total Debt	$6.6B
Net Debt	$3.1B