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Consolidated Statements of Comprehensive Income (Loss) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues        
Insurance premiums $ 1,625 $ 1,612 $ 3,226 $ 3,191
Fee income 1,339 1,365 2,662 2,744
Net investment income 1,332 1,508 2,679 2,974
Realized gain (loss) 663 (1,784) 230 (2,612)
Amortization of deferred gain (loss) on business sold through reinsurance (12) 9 (24) 19
Other revenues 206 219 496 427
Total revenues 5,153 2,929 9,269 6,743
Expenses        
Benefits 2,008 2,192 4,011 4,483
Interest credited 853 808 1,675 1,593
Market risk benefit (gain) loss (136) (2,023) (2,043) (1,404)
Policyholder liability remeasurement (gain) loss (105) (110) (117) (228)
Commissions and other expenses 1,351 1,376 2,951 2,701
Interest and debt expense 86 84 167 166
Total expenses 4,057 2,327 6,644 7,311
Income (loss) before taxes 1,096 602 2,625 (568)
Federal income tax expense (benefit) 201 91 509 (198)
Net income (loss) 895 511 2,116 (370)
Other comprehensive income (loss), net of tax:        
Unrealized investment gain (loss) (313) (513) (440) 1,261
Market risk benefit non-performance risk gain (loss) (197) (924) (661) 101
Policyholder liability discount rate remeasurement gain (loss) 92 112 208 (90)
Foreign currency translation adjustment 0 5 (1) 8
Funded status of employee benefit plans 0 (30) 1 (32)
Total other comprehensive income (loss), net of tax (418) (1,350) (893) 1,248
Comprehensive income (loss) 477 (839) 1,223 878
Net Income (Loss) Available to Common Stockholders        
Net income (loss) 895 511 2,116 (370)
Preferred stock dividends declared (11) (11) (46) (36)
Deferred units of LNC stock in our deferred compensation plans 0 2 3 (2)
Net income (loss) available to common stockholders $ 884 $ 502 $ 2,073 $ (408)
Net Income (Loss) Per Common Share        
Basic (in dollars per share) $ 5.18 $ 2.95 $ 12.16 $ (2.40)
Diluted (in dollars per share) 5.11 2.94 12.03 (2.41)
Cash Dividends Declared Per Preferred Share (in dollars per share) 562.50 562.50 2,281.25 1,817.19
Cash Dividends Declared Per Common Share (in dollars per share) 0.45 0.45 0.90 0.90
Series C Preferred Stock        
Net Income (Loss) Per Common Share        
Cash Dividends Declared Per Preferred Share (in dollars per share) 0 0 1,156.25 635.94
Series D Preferred Stock        
Net Income (Loss) Per Common Share        
Cash Dividends Declared Per Preferred Share (in dollars per share) $ 562.50 $ 562.50 $ 1,125 $ 1,181.25