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Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Jun. 30, 2022
Jun. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash Flows from Operating Activities                  
Net income (loss) $ 458 $ 457 $ 900 $ 923 $ (1,389) $ 1,292 $ (1,285) $ 2,109 $ 591
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:                  
Realized (gain) loss (257) (212) (327) (43) (338) (11) (214) (711) 526
Sales and maturities (purchases) of trading securities, net (189) 118 109 230 164 239 301 (87) 253
Amortization of deferred gain (loss) on business sold through reinsurance (10) (7) (20) (14) (29) (22) (37) (32) (33)
Impairment of intangibles         634   634    
Change in:                  
Deferred acquisition costs, value of business acquired, deferred sales inducements and deferred front-end loads deferrals and interest, net of amortization 24 50 (10) 106 3 325 45 289 68
Premiums and fees receivable (91) (163) (71) (98) (2) (99) (53) (95) (20)
Accrued investment income (44) (51) (40) (11) (77) (44) (41) 8 (88)
Insurance liabilities and reinsurance-related balances 299 (263) 81 5 2,311 (301) 1,055 (584) 392
Accrued expenses (229) (35) (340) 35 (375) 200 (98) 370 (21)
Federal income tax accruals 82 97 192 167 (308) 233 (271) 391 (134)
Cash management agreement 872 (182) 2,427 (1,223) 2,803 (1,367) 3,730 (1,286) (1,341)
Other (3) (203) 224 (219) 478 (226) 527 (163) 92
Net cash provided by (used in) operating activities 912 (394) 3,125 (142) 3,875 219 4,293 209 285
Cash Flows from Investing Activities                  
Purchases of available-for-sale securities and equity securities (3,910) (3,803) (8,090) (8,212) (11,961) (11,776) (14,768) (16,856) (16,149)
Sales of available-for-sale securities and equity securities 105 592 236 1,277 1,231 1,441 2,347 2,341 1,214
Maturities of available-for-sale securities 1,566 1,862 3,165 4,570 4,339 6,897 5,487 9,417 5,180
Purchases of other investments             (631) (754) (395)
Sales or maturities of other investments             441 377 171
Purchases of alternative investments (141) (163) (300) (360) (453) (504)      
Sales and repayments of alternative investments 130 54 181 128 380 258      
Issuance of mortgage loans on real estate (539) (868) (1,366) (1,609) (1,924) (2,188) (2,507) (3,057) (1,790)
Repayment and maturities of mortgage loans on real estate 716 398 1,422 846 1,866 1,267 2,247 1,873 1,133
Repayment (issuance) of policy loans, net 25 (76) (6) 16 16 47 4 61 49
Net change in collateral on investments, derivatives and related settlements (242) 987 (2,322) 1,704 (3,667) 2,132 (4,653) 3,095 1,775
Other (76) (30) (93) (67) (83) (181) (40) (253) (149)
Net cash provided by (used in) investing activities (2,366) (1,047) (7,173) (1,707) (10,256) (2,607) (12,073) (3,756) (8,961)
Cash Flows from Financing Activities                  
Capital contribution from Lincoln National Corporation   65 65 65 145 65 925 65 510
Payment of long-term debt, including current maturities   (60) (40) (60) (40) (60) (40) (60) (30)
Issuance of long-term debt, net of issuance costs                 30
Issuance (payment) of short-term debt (347) 71 (385) (40) (313) (14) (522) 587 (112)
Payment related to sale-leaseback transactions (4)   (47)   (52)   (70) (59) (47)
Proceeds from certain financing arrangements     53 50 53 50 186 159 109
Deposits of fixed account values, including the fixed portion of variable 3,041 3,136 6,892 6,370 11,049 9,138 15,212 12,626 14,009
Withdrawals of fixed account values, including the fixed portion of variable (1,873) (1,764) (3,334) (3,260) (4,970) (4,935) (6,880) (6,522) (6,069)
Transfers from (to) separate accounts, net 70 (130) 116 (255) 71 (254) (195) (397) 528
Common stock issued for benefit plans (17) (10) (21) (11) (21) (12) (21) (13) (9)
Dividends paid to Lincoln National Corporation (25) (180) (305) (495) (580) (795) (645) (1,910) (660)
Other   (63)   (63) (1) (63) (2) (60)  
Net cash provided by (used in) financing activities 845 1,065 2,994 2,301 5,341 3,120 7,948 4,416 8,259
Net increase (decrease) in cash, invested cash and restricted cash (609) (376) (1,054) 452 (1,040) 732 168 869 (417)
Cash, invested cash and restricted cash as of beginning-of-year 2,331 1,462 2,331 1,462 2,331 1,462 2,331 1,462 1,879
Cash, invested cash and restricted cash as of end-of-period $ 1,722 $ 1,086 $ 1,277 $ 1,914 $ 1,291 $ 2,194 $ 2,499 $ 2,331 $ 1,462