LINCOLN NATIONAL CORP
For the period ended Dec 31, 2025. Filed Feb 19, 2026.
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FY2025 · Filed Feb 19, 2026
LNC$42.77-0.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Comprehensive Income (Loss)
(in millions, except per share data)
| For the Years Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Revenues | |||
| Insurance premiums | $6,666 | $6,425 | $3,672 |
| Fee income | 5,496 | 5,402 | 5,467 |
| Net investment income | 6,075 | 5,544 | 5,900 |
| Realized gain (loss) | (799) | 269 | (4,311) |
| Other revenues | 774 | 802 | 917 |
| Total revenues | 18,212 | 18,442 | 11,645 |
| Expenses | |||
| Benefits | 7,960 | 7,918 | 6,138 |
| Policyholder liability remeasurement (gain) loss | (191) | (190) | (152) |
| Interest credited | 3,743 | 3,443 | 3,248 |
| Market risk benefit (gain) loss | (372) | (2,677) | (2,264) |
| Commissions and other expenses | 5,507 | 5,590 | 5,492 |
| Interest and debt expense | 227 | 336 | 331 |
| Total expenses | 16,874 | 14,420 | 12,793 |
| Income (loss) before taxes | 1,338 | 4,022 | (1,148) |
| Federal income tax expense (benefit) | 161 | 747 | (396) |
| Net income (loss) | 1,177 | 3,275 | (752) |
| Other comprehensive income (loss), net of tax: | |||
| Unrealized investment gain (loss) | 1,638 | (788) | 3,715 |
| Market risk benefit non-performance risk gain (loss) | (408) | (924) | (671) |
| Policyholder liability discount rate remeasurement gain (loss) | (264) | 157 | (160) |
| Foreign currency translation adjustment | 11 | (3) | 8 |
| Funded status of employee benefit plans | 1 | (2) | (16) |
| Total other comprehensive income (loss), net of tax | 978 | (1,560) | 2,876 |
| Comprehensive income (loss) | $2,155 | $1,715 | $2,124 |
| Net Income (Loss) Available to Common Stockholders | |||
| Net income (loss) | $1,177 | $3,275 | $(752) |
| Preferred stock dividends declared | (91) | (91) | (82) |
| Net income (loss) available to common stockholders | $1,086 | $3,184 | $(834) |
| Net Income (Loss) Per Common Share | |||
| Basic | $5.94 | $18.66 | $(4.92) |
| Diluted | 5.83 | 18.41 | (4.92) |
| Cash Dividends Declared Per Common Share | $1.80 | $1.80 | $1.80 |
See accompanying Notes to Consolidated Financial Statements
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.