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

Other product segments

Variable Annuities

$142M+4.4%

Similar metrics at other companies

KKRFixed Rate Annuities — Capitalizations

$12.54M-78.4%

JXNVariable annuity — Deferrals of acquisition costs

$141M+38.2%

FNFFixed rate annuities — Deferred Policy Acquisition Cost, Capitalization

$8M-61.9%

AMPFixed Annuity — Capitalization of acquisition costs

$0—

KKRFixed Indexed Annuities — Capitalizations

$74.01M-6.9%

AMPFixed Annuity — Amortization of deferred acquisition costs

$1M-50.0%

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:DeferredSalesInducementsAdditions.

The official record: Lincoln National’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

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.