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Lincoln National LNC Fixed Annuities — Deferred policy acquisition costs, amortization expense

Other product segments

Variable Annuities
$108M+11.3%

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CNOFixed interest annuities — Deferred Policy Acquisition Costs, Amortization Expense
$1.7M+6.3%
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$27M+3.8%

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:DeferredPolicyAcquisitionCostAmortizationExpense.

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 itemVariable AnnuitiesFixed AnnuitiesTraditional LifeUL and OtherGroup ProtectionRetirement Plan Services
Balance as of beginning-of-year$4,008$452$1,281$6,057$198$242
Deferrals1424624106305
Amortization(108)(19)(35)(83)(32)(4)
Balance as of end-of-period$4,042$479$1,270$6,080$196$243

Item 1. Financial Statements

FAQ

What is Lincoln National's fixed annuities — deferred policy acquisition costs, amortization expense?
Lincoln National (LNC) reported fixed annuities — deferred policy acquisition costs, amortization expense of $19M in Q1 2026.
How has Lincoln National's fixed annuities — deferred policy acquisition costs, amortization expense changed year-over-year?
Lincoln National's fixed annuities — deferred policy acquisition costs, amortization expense increased by 18.8% year-over-year, from $16M to $19M.
What is the long-term trend for Lincoln National's fixed annuities — deferred policy acquisition costs, amortization expense?
Over 3 years (2022 to 2025), Lincoln National's fixed annuities — deferred policy acquisition costs, amortization expense has grown at a -2.0% compound annual growth rate (CAGR), from $69M to $65M.
What does fixed annuities — deferred policy acquisition costs, amortization expense mean?
This represents the periodic expense recognized as capitalized acquisition costs are systematically expensed over the life of the annuity contracts. It reflects the consumption of the asset created during the initial sale of the policy. Consistent or predictable amortization is essential for understanding the underlying profitability of the annuity block.

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