Lincoln National (LNC) FY2015 results: revenue $13.6 billion, up 0.1% on the year
Lincoln National Corp. (LNC) reported revenue of $13.6 billion for fiscal 2015, the year ended 31 December 2015, up 0.1% on the year before. Net income was $1.2 billion, down 23.8%, and diluted earnings per share $4.51. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2016.
Revenue
$13.6 billion
+0.1% on the year
FY2008FY2015
Operating margin
10.5%
14.7% a year earlier
FY2008FY2015
Net income
$1.2 billion
-23.8% on the year
FY2008FY2015
Diluted EPS
$4.51
-20.5% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
13,572
13,554
11,969
+0.1%
Operating income
1,430
1,997
1,631
-28.4%
Operating margin
10.5%
14.7%
13.6%
Interest expense
272
267
265
+1.9%
Pre-tax income
1,430
1,997
1,631
-28.4%
Income tax
276
483
387
-42.9%
Effective tax rate
19.3%
24.2%
23.7%
Net income
1,154
1,515
1,244
-23.8%
Net margin
8.5%
11.2%
10.4%
Diluted EPS
$4.51
$5.67
$4.52
-20.5%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
2,243
2,526
799
-11.2%
Cash from investing
-4,223
-1,805
-4,710
Cash from financing
1,207
834
2,045
+44.7%
Share-based compensation
41.0
38.0
40.0
+7.9%
Buybacks
900
650
450
+38.5%
Dividends paid
204
170
128
+20.0%
Dividend per share
$0.85
$0.68
$0.52
+25.0%
Diluted shares, weighted
255m
268m
275m
-4.9%
Shares outstanding at period end
244m
257m
263m
-5.0%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
13,617
15,740
13,452
-13.5%
Debt
5,323
5,273
5,773
+0.9%
Other liabilities
232,997
232,364
217,720
+0.3%
Total liabilities and equity
251,937
253,377
236,945
-0.6%
Goodwill
2,273
2,273
2,273
0.0%
Securities held for sale or to maturity
84,964
86,240
80,078
-1.5%
Securities borrowed
n/a
n/a
1,244
Trading assets
1,854
2,065
2,282
-10.2%
Cash and equivalents
3,146
3,919
2,364
-19.7%
Other assets
159,700
158,880
148,704
+0.5%
Total assets
251,937
253,377
236,945
-0.6%
10-K for the year ended 31 December 2015, filed 25 February 2016: the filing.