Lincoln National (LNC) FY2021 results: revenue $17.7 billion, up 1.6% on the year
Lincoln National Corp. (LNC) reported revenue of $17.7 billion for fiscal 2021, the year ended 31 December 2021, up 1.6% on the year before. Net income was $3.8 billion, up 657.1%, and diluted earnings per share $19.96. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2022.
Revenue
$17.7 billion
+1.6% on the year
FY2014FY2021
Operating margin
26.2%
2.4% a year earlier
FY2014FY2021
Net income
$3.8 billion
+657.1% on the year
FY2014FY2021
Diluted EPS
$19.96
+679.7% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
-217
534
-2,686
Cash from investing
-3,584
-9,481
-5,499
Cash from financing
4,705
8,092
8,403
-41.9%
Share-based compensation
61.0
51.0
62.0
+19.6%
Buybacks
1,105
275
550
+301.8%
Dividends paid
319
311
303
+2.6%
Dividend per share
$1.71
$1.62
$1.51
+5.6%
Diluted shares, weighted
190m
194m
202m
-2.5%
Shares outstanding at period end
177m
192m
197m
-7.9%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
19,915
22,699
19,689
-12.3%
Debt
6,331
6,331
6,367
0.0%
Other liabilities
368,504
336,918
308,705
+9.4%
Total liabilities and equity
394,750
365,948
334,761
+7.9%
Goodwill
1,778
1,778
1,778
0.0%
Securities held for sale or to maturity
118,746
123,044
105,200
-3.5%
Securities borrowed
528
1,082
1,437
-51.2%
Cash and equivalents
2,612
1,708
2,563
+52.9%
Other assets
271,086
238,336
223,783
+13.7%
Total assets
394,750
365,948
334,761
+7.9%
10-K for the year ended 31 December 2021, filed 17 February 2022: the filing.