LNC Q3 2016 Earnings Report — Lincoln National Corporation Revenue & Financial Results | Market Cap Arena

Lincoln National CorporationLNC

Q3 2016 Earnings

Reported November 3, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2016	Q2 2016	Q3 2015	QoQ Change	YoY Change
Revenue	$3.5B	$3.3B	—	6.6%	—
Op. Income	$612M	$414M	—	47.8%	—
Gross Margin	19.2%	14.6%	—	4.7pp	—
Net Margin	13.2%	9.8%	—	3.4pp	—
EPS (Diluted)	$2.00	$1.35	—	48.1%	—
Free Cash Flow	$144M	$238M	—	-39.5%	—

Revenue Flow

Item	Amount
REVENUE	$3.5B
Cost of Revenue	$2.8B
GROSS PROFIT	$678M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$66M
Operating Expenses	$66M
Cost & Expenses	$2.9B
OPERATING INCOME	$612M
Interest Income	$0
Interest Expense	$66M
Other Income/Expenses	$0
INCOME BEFORE TAX	$612M
Income Tax Expense	$145M
Net Income from Continuing Ops	$467M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$467M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$467M
D&A	$0
EBIT	$678M
EBITDA	$678M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$3.5B
Cost of Revenue	$2.8B
GROSS PROFIT	$678M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$66M
Operating Expenses	$66M
Cost & Expenses	$2.9B
OPERATING INCOME	$612M
Interest Income	$0
Interest Expense	$66M
Other Income/Expenses	$0
INCOME BEFORE TAX	$612M
Income Tax Expense	$145M
Net Income from Continuing Ops	$467M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$467M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$467M
D&A	$0
EBIT	$678M
EBITDA	$678M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$466M
Depreciation & Amortization	$0
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$49M
Change in Working Capital	-$371M
OPERATING CASH FLOW	$144M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$2.6B
Sales/Maturities of Investments	$1.8B
Other Investing Activities	-$571M
NET CASH FROM INVESTING	-$1.4B
Net Debt Issuance	$0
Common Stock Repurchased	-$200M
Common Dividends Paid	-$58M
Other Financing Activities	$817M
NET CASH FROM FINANCING	$559M
FREE CASH FLOW	$144M
Net Change in Cash	-$669M

Balance Sheet

Item	Amount
Cash & Equivalents	$3.4B
Short-Term Investments	$93.5B
Net Receivables	$5.8B
Inventory	$0
Other Current Assets	$13.4B
TOTAL CURRENT ASSETS	$116.2B
PP&E (Net)	$0
Goodwill	$2.3B
Intangible Assets	$8.0B
Long-Term Investments	$95.3B
Tax Assets	$0
Other Non-Current Assets	$52.9B
TOTAL NON-CURRENT ASSETS	$150.5B
TOTAL ASSETS	$266.6B
Account Payables	$0
Short-Term Debt	$250M
Deferred Revenue	$0
Other Current Liabilities	-$5.9B
TOTAL CURRENT LIABILITIES	$244.8B
Long-Term Debt	$5.5B
Deferred Revenue NC	$43M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$244.5B
TOTAL NON-CURRENT LIABILITIES	$5.5B
TOTAL LIABILITIES	$250.3B
Common Stock	$5.9B
Additional Paid-In Capital	$0
Retained Earnings	$7.0B
Treasury Stock	$0
Accum. Other Comp. Income	$3.4B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$16.3B
Minority Interest	$0
TOTAL EQUITY	$16.3B
TOTAL LIABILITIES & EQUITY	$266.6B
Total Debt	$5.7B
Net Debt	$2.3B