Lincoln National (LNC) FY2022 results: revenue $18.8 billion, up 6.0% on the year
Lincoln National Corp. (LNC) reported revenue of $18.8 billion for fiscal 2022, the year ended 31 December 2022, up 6.0% on the year before. Net income was $1.4 billion, down 64.1%, and diluted earnings per share $7.78. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2023.
Revenue
$18.8 billion
+6.0% on the year
FY2015FY2022
Operating margin
9.0%
26.2% a year earlier
FY2015FY2022
Net income
$1.4 billion
-64.1% on the year
FY2015FY2022
Diluted EPS
$7.78
-61.0% on the year
FY2015FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
3,609
-217
534
Cash from investing
-11,643
-3,584
-9,481
Cash from financing
8,768
4,705
8,092
+86.4%
Share-based compensation
51.0
61.0
51.0
-16.4%
Buybacks
550
1,105
275
-50.2%
Dividends paid
310
319
311
-2.8%
Dividend per share
$1.80
$1.71
$1.62
+5.3%
Diluted shares, weighted
173m
190m
194m
-8.9%
Shares outstanding at period end
169m
177m
192m
-4.5%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
5,102
19,915
22,699
-74.4%
Debt
6,331
6,331
6,331
0.0%
Other liabilities
322,898
368,504
336,918
-12.4%
Total liabilities and equity
334,331
394,750
365,948
-15.3%
Goodwill
1,144
1,778
1,778
-35.7%
Securities held for sale or to maturity
99,736
118,746
123,044
-16.0%
Loans
18,301
n/a
n/a
Securities borrowed
941
528
1,082
+78.2%
Cash and equivalents
3,343
2,612
1,708
+28.0%
Other assets
210,866
271,086
238,336
-22.2%
Total assets
334,331
394,750
365,948
-15.3%
10-K for the year ended 31 December 2022, filed 16 February 2023: the filing.