LNC Q4 2016 Earnings Report — Lincoln National Corporation Revenue & Financial Results | Market Cap Arena

Lincoln National CorporationLNC

Q4 2016 Earnings

Reported February 23, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2016	Q3 2016	Q4 2015	QoQ Change	YoY Change
Revenue	$3.2B	$3.5B	—	-8.0%	—
Op. Income	$196M	$612M	—	-68.0%	—
Gross Margin	70.0%	19.2%	—	50.8pp	—
Net Margin	6.0%	13.2%	—	-7.3pp	—
EPS (Diluted)	$0.82	$2.00	—	-59.0%	—
Free Cash Flow	$595M	$144M	—	313.2%	—

Revenue Flow

Item	Amount
REVENUE	$3.2B
Cost of Revenue	$972M
GROSS PROFIT	$2.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$2.1B
Operating Expenses	$2.1B
Cost & Expenses	$3.0B
OPERATING INCOME	$196M
Interest Income	$0
Interest Expense	$129M
Other Income/Expenses	$0
INCOME BEFORE TAX	$196M
Income Tax Expense	$3M
Net Income from Continuing Ops	$193M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$193M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$193M
D&A	$0
EBIT	$325M
EBITDA	$325M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$3.2B
Cost of Revenue	$972M
GROSS PROFIT	$2.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$2.1B
Operating Expenses	$2.1B
Cost & Expenses	$3.0B
OPERATING INCOME	$196M
Interest Income	$0
Interest Expense	$129M
Other Income/Expenses	$0
INCOME BEFORE TAX	$196M
Income Tax Expense	$3M
Net Income from Continuing Ops	$193M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$193M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$193M
D&A	$0
EBIT	$325M
EBITDA	$325M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$193M
Depreciation & Amortization	$0
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$127M
Change in Working Capital	$275M
OPERATING CASH FLOW	$595M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	$11.5B
Sales/Maturities of Investments	-$11.8B
Other Investing Activities	-$1.7B
NET CASH FROM INVESTING	-$2.1B
Net Debt Issuance	$0
Common Stock Repurchased	-$204M
Common Dividends Paid	-$58M
Other Financing Activities	$999M
NET CASH FROM FINANCING	$737M
FREE CASH FLOW	$595M
Net Change in Cash	-$722M

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)	$0
Goodwill	$2.3B
Intangible Assets	$148M
Long-Term Investments	$91.2B
Tax Assets	$0
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	$0
Other Non-Current Liabilities	$241.8B
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