EX-12 2 lnc-20160930xex12.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,

 



2016

 

2015

 

Income (loss) from continuing operations before taxes

$

 1,262

 

$

 1,078

 

Sub-total of fixed charges

 

 202

 

 

 214

 

Sub-total of adjusted income (loss)

 

 1,464

 

 

 1,292

 

Interest on annuities and financial products

 

 1,910

 

 

 1,873

 

Adjusted income (loss) base

$

 3,374

 

$

 3,165

 

Fixed Charges

 

 

 

 

 

 

Interest and debt expense

$

 202

 

$

 204

 

Interest expense (income) related to uncertain tax positions

 

 (11

)

 

 (1

)

Portion of rent expense representing interest

 

 11

 

 

 11

 

Sub-total of fixed charges excluding interest on

 

 

 

 

 

 

annuities and financial products

 

 202

 

 

 214

 

Interest on annuities and financial products

 

 1,910

 

 

 1,873

 

Total fixed charges

$

 2,112

 

$

 2,087

 



 

 

 

 

 

 

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

 

 

 

 

 

 

of fixed charges excluding interest on annuities and

 

 

 

 

 

 

financial products

 

 7.25

 

 

 6.04

 

Ratio of adjusted income (loss) base to total fixed

 

 

 

 

 

 

charges

 

 1.60

 

 

 1.52