What is Lincoln National's fixed annuities — deferrals?

Lincoln National (LNC) reported fixed annuities — deferrals of $0 in Q1 2026.

What does fixed annuities — deferrals mean?

This represents the amount of new acquisition costs capitalized during the reporting period for fixed annuity products. It reflects the immediate investment intensity in growing the annuity segment's policy base. Higher deferrals indicate active growth in new business production.

Lincoln National (LNC) Fixed Annuities — Deferrals

Screener

Other product segments

Variable Annuities

$142M+4.4%

Similar metrics at other companies

BHFFixed Rate Annuities — Capitalization

$1M0.0%

GNWFixed annuities — Costs deferred

$0—

KKRFixed Indexed Annuities — Capitalizations

$97.71M-12.7%

KKRFixed Rate Annuities — Capitalizations

$25.17M-34.4%

FNFFixed rate annuities — Deferred Policy Acquisition Cost, Capitalization

$8M-61.9%

CNOFixed indexed annuities — Deferred Policy Acquisition Cost, Capitalization

$31.1M+3.7%

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:DeferredSalesInducementsAdditions.

The source filing: Lincoln National’s 10-Q, filed May 7, 2026.

Filed: May 7, 2026, 4:23 PM EDT
Fiscal quarter: Q1 FY2026
Calendar quarter: Q1 2026
Accession: 0000059558-26-000035

Line item	Variable Annuities	Fixed Annuities	UL and Other	Retirement Plan Services
Balance as of beginning-of-year	$104	$14	$25	$62
Deferrals	–	–	–	1
Amortization	(3)	(1)	–	–
Balance as of end-of-period	$101	$13	$25	$63

Item 1. Financial Statements

FAQ

What is Lincoln National's fixed annuities — deferrals?: Lincoln National (LNC) reported fixed annuities — deferrals of $0 in Q1 2026.
What does fixed annuities — deferrals mean?: This represents the amount of new acquisition costs capitalized during the reporting period for fixed annuity products. It reflects the immediate investment intensity in growing the annuity segment's policy base. Higher deferrals indicate active growth in new business production.