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Lincoln National LNC Deferred policy acquisition costs

Discontinued — last reported Q3 '23

Deferred policy acquisition costs at other companies

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$8.95B-3.7%
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$21.57B+2.8%
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$21.88B+3.1%
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$7.64B+3.8%
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$4.49B-3.2%
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Jackson FinancialJXN
$11.63B-1.2%

Segments

By segment

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UL and Other$6.08B+2.5%
Traditional Life$1.27B-3.7%
Group Protection$181M
Other Operations$6M

By product

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Variable Annuities$4.04B+3.9%
Fixed Annuities$479M+23.5%

Other financials

Income statement

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Revenue$5.3B+13.1%
Net income-$172.0M+76.2%
EPS (diluted)-$1.10+75.1%

Balance sheet

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Cash & equivalents$7.3B+71.5%
Total debt$6.4B+8.5%
Total equity$10.2B+24.6%
Total assets$406.16B+6.1%

Cash flow

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Operating cash flow$138.0M+151%

Valuation

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Market cap$8.98B+20.1%
Enterprise value$8B+31.2%
P/E5.2×-1.4×
P/S0.5×+0.1×

Profitability

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Net margin9.2%+2.2pp

Returns & leverage

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Return on equity18.8%+1.8pp
Debt / equity0.6×-0.1×

Where this comes from

Reported directly by Lincoln National in its filing.

Tagged under the XBRL concept us-gaap:DeferredPolicyAcquisitionCostsAndValueOfBusinessAcquired.

The source filing: Lincoln National’s 10-Q, filed November 2, 2023.

Filed
Nov 2, 2023, 12:40 PM EDT
Fiscal quarter
Q3 FY2023
Calendar quarter
Q3 2023
Accession
0000059558-23-000058
Line itemAs of / September 30, 2023As of / December 31, 2022
Other investments4,5513,739
Total investments132,495131,654
Cash and invested cash2,5293,343
Deferred acquisition costs, value of business acquired and deferred sales inducements12,34112,235
Reinsurance recoverables, net of allowance for credit losses18,38919,443
Market risk benefit assets4,1082,807
Accrued investment income1,3721,253
Goodwill1,1441,144

Item 1. Financial Statements

FAQ

What is Lincoln National's deferred policy acquisition costs?
Lincoln National (LNC) reported deferred policy acquisition costs of $12.34B in Q3 2023.
How has Lincoln National's deferred policy acquisition costs changed year-over-year?
Lincoln National's deferred policy acquisition costs decreased by 9.8% year-over-year, from $13.68B to $12.34B.
What is the long-term trend for Lincoln National's deferred policy acquisition costs?
Over 2 years (2020 to 2022), Lincoln National's deferred policy acquisition costs has grown at a 45.1% compound annual growth rate (CAGR), from $5.81B to $12.24B.

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