What does other operations — amortization of DAC and VOBA mean?

This metric reflects the systematic expensing of deferred acquisition costs and the value of business acquired over the expected life of the insurance contracts. It is a non-cash charge that impacts the timing of reported earnings and reflects the consumption of capitalized acquisition assets.

Lincoln National LNC Other Operations — Amortization of DAC and VOBA

Other segment segments

Retirement Plan Services

$18M0.0%

Similar metrics at other companies

METGroup Benefits — Amortization of DAC, VOBA and negative VOBA

-$12M-100%

METEMEA — Amortization of DAC, VOBA and negative VOBA

-$97M-3.2%

METRIS — Amortization of DAC, VOBA and negative VOBA

-$23M-21.1%

METAsia — Amortization of DAC, VOBA and negative VOBA

-$211M+2.3%

METMIM — Amortization of DAC, VOBA and Negative VOBA Charged to Other Expenses

$0—

EGOther — Amortization of Deferred Acquisition Costs

$5.25M-12.5%

Other financials

Income statement

See full

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

See full

Net margin9.2%+2.2pp

Returns & leverage

See full

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:SupplementaryInsuranceInformationAmortizationOfDeferredPolicyAcquisitionCosts.

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 other operations — amortization of DAC and VOBA?: Lincoln National (LNC) reported other operations — amortization of DAC and VOBA of $0 in Q4 2025.
What does other operations — amortization of DAC and VOBA mean?: This metric reflects the systematic expensing of deferred acquisition costs and the value of business acquired over the expected life of the insurance contracts. It is a non-cash charge that impacts the timing of reported earnings and reflects the consumption of capitalized acquisition assets.