EX-12 3 lnc-20170331xex12.htm EX-12

Exhibit 12

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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 |
﻿ | Months Ended |
﻿ | March 31, |
﻿ | 2017 |  | 2016 |
Income (loss) from continuing operations before taxes | $ | 475 |  | $ | 235 |
Sub-total of fixed charges |  | 79 |  |  | 71 |
Sub-total of adjusted income (loss) |  | 554 |  |  | 306 |
Interest on annuities and financial products |  | 648 |  |  | 635 |
Adjusted income (loss) base | $ | 1,202 |  | $ | 941 |
Fixed Charges |  |  |  |  |  |
Interest and debt expense | $ | 64 |  | $ | 68 |
Interest expense (income) related to uncertain tax positions |  | 11 |  |  | - |
Portion of rent expense representing interest |  | 4 |  |  | 3 |
Sub-total of fixed charges excluding interest on |  |  |  |  |  |
annuities and financial products |  | 79 |  |  | 71 |
Interest on annuities and financial products |  | 648 |  |  | 635 |
Total fixed charges | $ | 727 |  | $ | 706 |
﻿ |  |  |  |  |  |
Ratio of sub-total of adjusted income (loss) to sub-total |  |  |  |  |  |
of fixed charges excluding interest on annuities and |  |  |  |  |  |
financial products |  | 7.01 |  |  | 4.31 |
Ratio of adjusted income (loss) base to total fixed |  |  |  |  |  |
charges |  | 1.65 |  |  | 1.33 |

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