EX-12 2 lnc-20150630ex12781a451.htm EX-12 Exhibit 12

Exhibit 12

 

LINCOLN NATIONAL CORPORATION AND SUBSIDIARIES

HISTORICAL RATIO OF EARNINGS TO FIXED CHARGES

(dollars in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Six

 

 

Months Ended

 

 

June 30,

 

 

2015

 

2014

 

Income (loss) from continuing operations before taxes

$
811

 

$
963

 

Sub-total of fixed charges

 
144

 

 
133

 

Sub-total of adjusted income (loss)

 
955

 

 
1,096

 

Interest on annuities and financial products

 
1,252

 

 
1,256

 

Adjusted income (loss) base

$
2,207

 

$
2,352

 

Fixed Charges

 

 

 

 

 

 

Interest and debt expense

$
137

 

$
134

 

Interest expense (income) related to uncertain tax positions

 

 -

 

 
(8

)

Portion of rent expense representing interest

 
7

 

 
7

 

Sub-total of fixed charges excluding interest on

 

 

 

 

 

 

annuities and financial products

 
144

 

 
133

 

Interest on annuities and financial products

 
1,252

 

 
1,256

 

Total fixed charges

$
1,396

 

$
1,389

 

 

 

 

 

 

 

 

Ratio of sub-total of adjusted income (loss) to sub-total

 

 

 

 

 

 

of fixed charges excluding interest on annuities and

 

 

 

 

 

 

financial products

 
6.63

 

 
8.24

 

Ratio of adjusted income (loss) base to total fixed

 

 

 

 

 

 

charges

 
1.58

 

 
1.69