Lincoln National (LNC) FY2016 results: revenue $13.3 billion, down 1.8% on the year
Lincoln National Corp. (LNC) reported revenue of $13.3 billion for fiscal 2016, the year ended 31 December 2016, down 1.8% on the year before. Net income was $1.2 billion, up 3.3%, and diluted earnings per share $5.03. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2017.
Revenue
$13.3 billion
-1.8% on the year
FY2009FY2016
Operating margin
10.9%
10.5% a year earlier
FY2009FY2016
Net income
$1.2 billion
+3.3% on the year
FY2009FY2016
Diluted EPS
$5.03
+11.5% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
13,330
13,572
13,554
-1.8%
Operating income
1,458
1,430
1,997
+2.0%
Operating margin
10.9%
10.5%
14.7%
Interest expense
331
272
267
+21.7%
Pre-tax income
1,458
1,430
1,997
+2.0%
Income tax
266
276
483
-3.6%
Effective tax rate
18.2%
19.3%
24.2%
Net income
1,192
1,154
1,515
+3.3%
Net margin
8.9%
8.5%
11.2%
Diluted EPS
$5.03
$4.51
$5.67
+11.5%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
1,272
2,243
2,526
-43.3%
Cash from investing
-3,666
-4,223
-1,805
Cash from financing
1,970
1,207
834
+63.2%
Share-based compensation
46.0
41.0
38.0
+12.2%
Buybacks
879
900
650
-2.3%
Dividends paid
238
204
170
+16.7%
Dividend per share
$1.04
$0.85
$0.68
+22.4%
Diluted shares, weighted
237m
255m
268m
-7.1%
Shares outstanding at period end
226m
244m
257m
-7.2%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
14,478
13,617
15,740
+6.3%
Debt
5,123
5,323
5,273
-3.8%
Other liabilities
242,026
232,997
232,364
+3.9%
Total liabilities and equity
261,627
251,937
253,377
+3.8%
Goodwill
2,273
2,273
2,273
0.0%
Securities held for sale or to maturity
89,013
84,964
86,240
+4.8%
Trading assets
1,712
1,854
2,065
-7.7%
Cash and equivalents
2,722
3,146
3,919
-13.5%
Other assets
165,907
159,700
158,880
+3.9%
Total assets
261,627
251,937
253,377
+3.8%
10-K for the year ended 31 December 2016, filed 23 February 2017: the filing.