LINCOLN NATIONAL CORPORATION AND SUBSIDIARIES
HISTORICAL RATIO OF EARNINGS TO FIXED CHARGES
(dollars in millions)
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| For the Nine |
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| Months Ended |
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| September 30, |
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| 2017 |
| 2016 |
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Income (loss) from continuing operations before taxes | $ | 1,518 |
| $ | 1,262 |
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Sub-total of fixed charges |
| 201 |
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| 202 |
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Sub-total of adjusted income (loss) |
| 1,719 |
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| 1,464 |
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Interest on annuities and financial products |
| 1,933 |
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| 1,910 |
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Adjusted income (loss) base | $ | 3,652 |
| $ | 3,374 |
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Fixed Charges |
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Interest and debt expense | $ | 190 |
| $ | 202 |
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Interest expense (income) related to uncertain tax positions |
| - |
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| (11 | ) |
Portion of rent expense representing interest |
| 11 |
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| 11 |
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Sub-total of fixed charges excluding interest on |
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annuities and financial products |
| 201 |
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| 202 |
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Interest on annuities and financial products |
| 1,933 |
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| 1,910 |
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Total fixed charges | $ | 2,134 |
| $ | 2,112 |
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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 |
| 8.55 |
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| 7.25 |
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Ratio of adjusted income (loss) base to total fixed |
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charges |
| 1.71 |
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| 1.60 |
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