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Content analysis
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LINCOLN NATIONAL CORPORATION AND SUBSIDIARIES
HISTORICAL RATIO OF EARNINGS TO FIXED CHARGES
(dollars in millions)
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| For the Three |
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| Months Ended |
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| March 31, |
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| 2015 |
| 2014 |
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Income (loss) from continuing operations before taxes | $ | 362 |
| $ | 427 |
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Sub-total of fixed charges |
| 72 |
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| 71 |
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Sub-total of adjusted income (loss) |
| 434 |
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| 498 |
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Interest on annuities and financial products |
| 623 |
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| 626 |
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Adjusted income (loss) base | $ | 1,057 |
| $ | 1,124 |
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Fixed Charges |
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Interest and debt expense | $ | 68 |
| $ | 67 |
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Interest expense (income) related to uncertain tax positions |
| - |
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| 1 |
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Portion of rent expense representing interest |
| 4 |
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| 3 |
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Sub-total of fixed charges excluding interest on |
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annuities and financial products |
| 72 |
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| 71 |
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Interest on annuities and financial products |
| 623 |
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| 626 |
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Total fixed charges | $ | 695 |
| $ | 697 |
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Ratio of sub-total of adjusted income (loss) to sub-total |
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of fixed charges excluding interest on annuities and |
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financial products |
| 6.03 |
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| 7.01 |
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Ratio of adjusted income (loss) base to total fixed |
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charges |
| 1.52 |
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| 1.61 |
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