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Lincoln National LNC Annuities — Other Operating Expense

Other segment segments

Other Operations
$597M-32.3%
Retirement Plan Services
$441M+3.3%

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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:SupplementaryInsuranceInformationOtherOperatingExpense.

The source filing: Lincoln National’s 10-K, filed February 19, 2026.

Filed
Feb 19, 2026, 5:22 PM EST
Fiscal year
FY2025
Accession
0000059558-26-000016
Column A / Business Segments and Other OperationsColumn G / Net / Investment / IncomeColumn H / Benefits / and / Interest / CreditedColumn I / Amortization / of DAC / and / VOBAColumn J / Other / Operating / ExpensesColumn K / Premiums / Written
Annuities$1,894$1,944$479$1,205
Life Insurance2,6364,851511856
Group Protection3764,1181221,490
Retirement Plan Services1,02269219455
Other Operations14798597
Total$6,075$11,703$1,131$4,603
As of or For the Year Ended December 31, 2024
Annuities$1,636$1,711$427$1,411

Item 15. Exhibits and Financial Statement Schedules

FAQ

What is Lincoln National's annuities — other operating expense?
Lincoln National (LNC) reported annuities — other operating expense of $301.25M in Q4 2025.
How has Lincoln National's annuities — other operating expense changed year-over-year?
Lincoln National's annuities — other operating expense decreased by 14.6% year-over-year, from $352.75M to $301.25M.
What is the long-term trend for Lincoln National's annuities — other operating expense?
Over 4 years (2021 to 2025), Lincoln National's annuities — other operating expense has grown at a -8.2% compound annual growth rate (CAGR), from $1.7B to $1.21B.
What does annuities — other operating expense mean?
Captures the general administrative, overhead, and operational costs required to support the annuity business segment, excluding direct acquisition costs and benefit payments. Monitoring this helps assess the operational efficiency and cost-management discipline of the segment.

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