EX-12 2 lnc-20150930ex120629626.htm EX-12 Exhibit 12

Exhibit 12

 

LINCOLN NATIONAL CORPORATION AND SUBSIDIARIES

HISTORICAL RATIO OF EARNINGS TO FIXED CHARGES

(dollars in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Nine

 

 

Months Ended

 

 

September 30,

 

 

2015

 

2014

 

Income (loss) from continuing operations before taxes

$
1,078

 

$
1,564

 

Sub-total of fixed charges

 
214

 

 
203

 

Sub-total of adjusted income (loss)

 
1,292

 

 
1,767

 

Interest on annuities and financial products

 
1,873

 

 
1,882

 

Adjusted income (loss) base

$
3,165

 

$
3,649

 

Fixed Charges

 

 

 

 

 

 

Interest and debt expense

$
204

 

$
201

 

Interest expense (income) related to uncertain tax positions

 
(1

)

 
(8

)

Portion of rent expense representing interest

 
11

 

 
10

 

Sub-total of fixed charges excluding interest on

 

 

 

 

 

 

annuities and financial products

 
214

 

 
203

 

Interest on annuities and financial products

 
1,873

 

 
1,882

 

Total fixed charges

$
2,087

 

$
2,085

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

of fixed charges excluding interest on annuities and

 

 

 

 

 

 

financial products

 
6.04

 

 
8.70

 

Ratio of adjusted income (loss) base to total fixed

 

 

 

 

 

 

charges

 
1.52

 

 
1.75