EX-12.0 2 dex12.htm HISTORICAL RATIO OF EARNINGS TO FIXED CHARGES dex12.htm

 
Exhibit 12

LINCOLN NATIONAL CORPORATION AND SUBSIDIARIES
HISTORICAL RATIO OF EARNINGS TO FIXED CHARGES
(dollars in millions)




 
For the Three
  
 
Months Ended
  
 
March 31,
  
 
2012
  
2011
  
Income (loss) from continuing operations before taxes
 $ 307   $ 429  
Sub-total of fixed charges
   67     77  
Sub-total of adjusted income (loss)
   374     506  
Interest on annuities and financial products
   621     612  
Adjusted income (loss) base
 $ 995   $ 1,118  
Fixed Charges
            
Interest and debt expense
 $ 67   $ 72  
Interest expense related to uncertain tax positions
   (3 )   2  
Portion of rent expense representing interest
   3     3  
 Sub-total of fixed charges excluding interest on annuities and financial products
   67     77  
Interest on annuities and financial products
   621     612  
Total fixed charges
 $ 688   $ 689  
             
Ratio of sub-total of adjusted income (loss) to sub-total of fixed charges excluding interest on annuities and financial products
   5.58     6.57  
Ratio of adjusted income (loss) base to total fixed charges
   1.45     1.62