How has Lincoln National's annuities — future contract benefits changed year-over-year?

Lincoln National's annuities — future contract benefits increased by 1.7% year-over-year, from $2.02B to $2.05B.

What does annuities — future contract benefits mean?

Represents the estimated liability for future benefit payments to annuity policyholders, calculated based on actuarial assumptions regarding mortality, morbidity, and interest rates. It is a core measure of the company's long-term financial obligation to fulfill its contractual promises to annuity clients.

Lincoln National LNC Annuities — Future Contract Benefits

Other segment segments

Other Operations

$9.18B+1.2%

Retirement Plan Services

$0—

Similar metrics at other companies

PFGFixed Annuity — Liability For Future Policy Benefits

$4.24B-5.6%

PFGFixed Annuity — Liability For Future Policy Benefit Expected Future Policy Benefit Undiscounted Before Reinsurance

$6.12B-6.2%

PFGFixed Annuity — Liability For Future Policy Benefit Expected Future Policy Benefit Before Reinsurance After Discount Rate Change

424,020,000,000%-25,350,000,000pp

FNFImmediate annuities — Future policy benefits

$1.24B-4.2%

HIGFixed Annuity — Liability for Future Policy Benefit, Expected Future Policy Benefit, before Reinsurance, after Discount Rate Change

$119M-7.8%

PFGFixed Annuity — Liability For Future Policy Benefit Expected Future Policy Benefit Issuance

$5.5M-32.1%

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$7.11B+10.3%

Enterprise value$6.13B-25.1%

P/E4.1×-0.7×

P/S0.4×0.0×

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:SupplementaryInsuranceInformationLiabilityForFuturePolicyBenefitsLossesClaimsAndLossExpenseReserves.

The official record: Lincoln National’s 10-K, filed February 19, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Lincoln National's annuities — future contract benefits?: Lincoln National (LNC) reported annuities — future contract benefits of $2.05B in Q4 2025.
How has Lincoln National's annuities — future contract benefits changed year-over-year?: Lincoln National's annuities — future contract benefits increased by 1.7% year-over-year, from $2.02B to $2.05B.
What does annuities — future contract benefits mean?: Represents the estimated liability for future benefit payments to annuity policyholders, calculated based on actuarial assumptions regarding mortality, morbidity, and interest rates. It is a core measure of the company's long-term financial obligation to fulfill its contractual promises to annuity clients.