EX-12 3 lnc-20170630xex12.htm EX-12 Exhibit 12

Exhibit 12



LINCOLN NATIONAL CORPORATION AND SUBSIDIARIES

HISTORICAL RATIO OF EARNINGS TO FIXED CHARGES

(dollars in millions)







 

 

 

 

 

 



 

 

 

 

 

 



For the Six

 



Months Ended

 



June 30,

 



2017

 

2016

 

Income (loss) from continuing operations before taxes

$

 1,008 

 

$

 650 

 

Sub-total of fixed charges

 

 146 

 

 

 143 

 

Sub-total of adjusted income (loss)

 

 1,154 

 

 

 793 

 

Interest on annuities and financial products

 

 1,292 

 

 

 1,273 

 

Adjusted income (loss) base

$

 2,446 

 

$

 2,066 

 

Fixed Charges

 

 

 

 

 

 

Interest and debt expense

$

 127 

 

$

 136 

 

Interest expense (income) related to uncertain tax positions

 

 12 

 

 

 -

 

Portion of rent expense representing interest

 

 7 

 

 

 7 

 

Sub-total of fixed charges excluding interest on

 

 

 

 

 

 

annuities and financial products

 

 146 

 

 

 143 

 

Interest on annuities and financial products

 

 1,292 

 

 

 1,273 

 

Total fixed charges

$

 1,438 

 

$

 1,416 

 



 

 

 

 

 

 

Ratio of sub-total of adjusted income (loss) to sub-total

 

 

 

 

 

 

of fixed charges excluding interest on annuities and

 

 

 

 

 

 

financial products

 

 7.90 

 

 

 5.55 

 

Ratio of adjusted income (loss) base to total fixed

 

 

 

 

 

 

charges

 

 1.70 

 

 

 1.46