Lincoln National (LNC) FY2012 results: revenue $11.5 billion, up 8.4% on the year
Lincoln National Corp. (LNC) reported revenue of $11.5 billion for fiscal 2012, the year ended 31 December 2012, up 8.4% on the year before. Net income was $1.3 billion, up 494.1%, and diluted earnings per share $4.56. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2013.
Revenue
$11.5 billion
+8.4% on the year
FY2007FY2012
Operating margin
13.6%
4.7% a year earlier
FY2007FY2012
Net income
$1.3 billion
+494.1% on the year
FY2007FY2012
Diluted EPS
$4.56
+560.9% on the year
FY2007FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
11,532
10,636
10,407
+8.4%
Operating income
1,568
498
1,127
+214.9%
Operating margin
13.6%
4.7%
10.8%
Interest expense
273
294
n/a
-7.1%
Pre-tax income
1,568
503
1,135
+211.7%
Income tax
282
274
262
+2.9%
Effective tax rate
18.0%
54.5%
23.1%
Net income
1,313
221
902
+494.1%
Net margin
11.4%
2.1%
8.7%
Diluted EPS
$4.56
$0.69
$2.54
+560.9%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
1,269
1,277
1,720
-0.6%
Cash from investing
-3,857
-2,125
-5,630
Cash from financing
2,308
2,617
2,467
-11.8%
Share-based compensation
31.0
22.0
16.0
+40.9%
Buybacks
492
576
25.0
-14.6%
Dividends paid
91.0
61.0
42.0
+49.2%
Dividend per share
$0.36
$0.23
$0.08
+56.5%
Diluted shares, weighted
288m
315m
319m
-8.7%
Shares outstanding at period end
271m
291m
316m
-6.8%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
14,973
13,101
11,686
+14.3%
Debt
5,373
5,388
5,614
-0.3%
Other liabilities
198,523
183,002
176,524
+8.5%
Total liabilities and equity
218,869
201,491
193,824
+8.6%
Goodwill
3,863
3,863
3,019
0.0%
Securities held for sale or to maturity
82,036
75,433
68,030
+8.8%
Trading assets
2,554
2,675
2,596
-4.5%
Cash and equivalents
4,230
4,510
2,741
-6.2%
Other assets
126,186
115,010
117,438
+9.7%
Total assets
218,869
201,491
193,824
+8.6%
10-K for the year ended 31 December 2012, filed 1 March 2013: the filing.