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 Six
  
 
 
  
Months Ended
  
 
 
  
June 30,
  
 
 
  
2012 
 
2011 
  
Income (loss) from continuing operations before taxes
$
 750
 
$
 838
  
Sub-total of fixed charges
 
 140
 
 
 156
  
 
Sub-total of adjusted income (loss)
 
 890
 
 
 994
  
Interest on annuities and financial products
 
 1,237
 
 
 1,234
  
 
 
Adjusted income (loss) base
$
 2,127
 
$
 2,228
  
Fixed Charges
 
 
 
 
 
  
Interest and debt expense
$
 135
 
$
 144
  
Interest expense related to uncertain tax positions
 
 1
 
 
 5
  
Portion of rent expense representing interest
 
 4
 
 
 7
  
 
Sub-total of fixed charges excluding interest on annuities and financial products
 
 140
 
 
 156
  
Interest on annuities and financial products
 
 1,237
 
 
 1,234
  
 
 
Total fixed charges
$
 1,377
 
$
 1,390
  
 
 
  
 
 
 
 
 
  
Ratio of sub-total of adjusted income (loss) to sub-total of fixed charges excluding interest on annuities and financial products
 
 6.36
 
 
 6.37
  
Ratio of adjusted income (loss) base to total fixed charges
 
 1.54
 
 
 1.60