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 |
|