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Lincoln National LNC Other Operations — Benefits and Interest Credited

Other segment segments

Retirement Plan Services
$675M+1.7%

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VOYAWealth Solutions — Interest Credited and Other Benefits to Contract Owners
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BHFCorporate Segment and Other Operating Segment — Policyholder Benefits and Claims and Interest Credited to Policyholder Account Balances
$102.25M-9.1%
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BHFAnnuities — Policyholder Benefits and Claims and Interest Credited to Policyholder Account Balances
$469.25M+2.6%
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BHFLife — Policyholder Benefits and Claims and Interest Credited to Policyholder Account Balances
$209.75M+2.9%

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$8.93B+19.5%
Enterprise value$7.96B+30.5%
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:SupplementaryInsuranceInformationBenefitsClaimsLossesAndSettlementExpense.

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
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
Life Insurance2,4524,886503763

Item 15. Exhibits and Financial Statement Schedules

FAQ

What is Lincoln National's other operations — benefits and interest credited?
Lincoln National (LNC) reported other operations — benefits and interest credited of $24.5M in Q4 2025.
How has Lincoln National's other operations — benefits and interest credited changed year-over-year?
Lincoln National's other operations — benefits and interest credited increased by 122.7% year-over-year, from $11M to $24.5M.
What is the long-term trend for Lincoln National's other operations — benefits and interest credited?
Over 4 years (2021 to 2025), Lincoln National's other operations — benefits and interest credited has grown at a -4.5% compound annual growth rate (CAGR), from $118M to $98M.
What does other operations — benefits and interest credited mean?
This represents the total costs incurred by the Other Operations segment related to policyholder benefits paid and interest credited to account balances. It is a key measure of the segment's cost of funds and the direct expense associated with maintaining its insurance and annuity products.

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