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Consolidated Statements Of Comprehensive Income (Loss) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues        
Insurance premiums $ 1,566 $ 1,548 $ 4,757 $ 4,523
Fee income 1,363 1,381 4,107 4,249
Net investment income 1,494 1,295 4,468 4,105
Realized gain (loss) (453) 249 (3,066) 1,531
Amortization of deferred gain on business sold through reinsurance 15 10 34 31
Other revenues 218 189 646 530
Total revenues 4,203 4,672 10,946 14,969
Expenses        
Benefits 2,152 2,149 6,635 6,259
Interest credited 831 726 2,424 2,133
Market risk benefit (gain) loss (1,428) (798) (2,832) (1,679)
Policyholder liability remeasurement (gain) loss 159 2,692 (68) 2,818
Commissions and other expenses 1,335 1,280 3,970 3,741
Interest and debt expense 84 71 250 205
Spark program expense 36 44 101 118
Impairment of intangibles   634   634
Total expenses 3,169 6,798 10,480 14,229
Income (loss) before taxes 1,034 (2,126) 466 740
Federal income tax expense (benefit) 181 (350) (17) 195
Net income (loss) 853 (1,776) 483 545
Other comprehensive income (loss), net of tax:        
Unrealized investment gain (loss) (2,896) (5,055) (1,635) (19,207)
Market risk benefit non-performance risk gain (loss) (844) (150) (742) 224
Policyholder liability discount rate remeasurement gain (loss) 364 549 274 2,070
Foreign currency translation adjustment (6) (13) 1 (33)
Funded status of employee benefit plans 6 9 (26) 22
Total other comprehensive income (loss), net of tax (3,376) (4,660) (2,128) (16,924)
Comprehensive income (loss) (2,523) (6,436) (1,645) (16,379)
Net Income (Loss) Available to Common Stockholders        
Net income (loss) 853 (1,776) 483 545
Preferred stock dividends declared (34)   (71)  
Deferred units of LNC stock in our deferred compensation plans   (1) (2) (8)
Net income (loss) available to common stockholders $ 819 $ (1,777) $ 410 $ 537
Net Income (Loss) Per Common Share        
Basic (in dollars per share) $ 4.82 $ (10.46) $ 2.43 $ 3.18
Diluted (in dollars per share) 4.79 (10.47) 2.40 3.10
Cash Dividends Declared Per Preferred Share 1,718.75 3,535.94
Cash Dividends Declared Per Common Share 0.45 0.45 1.35 1.35
Series C Preferred Stock [Member]        
Net Income (Loss) Per Common Share        
Cash Dividends Declared Per Preferred Share 1,156.25 1,792.19
Series D Preferred Stock [Member]        
Net Income (Loss) Per Common Share        
Cash Dividends Declared Per Preferred Share $ 562.50 $ 1,743.75