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Lincoln National LNC Variable Annuities — Ceded deferred front end loads

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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 lnc:CededDeferredFrontEndLoads.

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 itemAs of or For the Three Months Ended March 31, 2026 / Variable AnnuitiesAs of or For the Three Months Ended March 31, 2026 / UL and OtherAs of or For the Three Months Ended March 31, 2025 / Variable AnnuitiesAs of or For the Three Months Ended March 31, 2025 / UL and Other
Balance as of beginning-of-year$264$7,265$273$6,406
Deferrals33153279
Amortization(6)(95)(6)(98)
Balance as of end-of-period2617,4852706,587
Less: reinsurance recoverables221237
Balance as of end-of-period, net of reinsurance$261$7,264$270$6,350

Item 1. Financial Statements

FAQ

What is Lincoln National's variable annuities — ceded deferred front end loads?
Lincoln National (LNC) reported variable annuities — ceded deferred front end loads of $0 in Q1 2026.
What does variable annuities — ceded deferred front end loads mean?
This represents the portion of deferred front-end loads that has been transferred to a reinsurer under reinsurance agreements. It indicates the extent to which the company has offloaded the revenue recognition and associated risks of its annuity business to third parties. Monitoring this helps assess the impact of reinsurance strategies on the company's net revenue profile.

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