EX-12 3 lnc-20170331xex12.htm EX-12 Exhibit 12

Exhibit 12



LINCOLN NATIONAL CORPORATION AND SUBSIDIARIES

HISTORICAL RATIO OF EARNINGS TO FIXED CHARGES

(dollars in millions)







 

 

 

 

 

 



 

 

 

 

 

 



For the Three

 



Months Ended

 



March 31,

 



2017

 

2016

 

Income (loss) from continuing operations before taxes

$

 475 

 

$

 235 

 

Sub-total of fixed charges

 

 79 

 

 

 71 

 

Sub-total of adjusted income (loss)

 

 554 

 

 

 306 

 

Interest on annuities and financial products

 

 648 

 

 

 635 

 

Adjusted income (loss) base

$

 1,202 

 

$

 941 

 

Fixed Charges

 

 

 

 

 

 

Interest and debt expense

$

 64 

 

$

 68 

 

Interest expense (income) related to uncertain tax positions

 

 11 

 

 

 -

 

Portion of rent expense representing interest

 

 4 

 

 

 3 

 

Sub-total of fixed charges excluding interest on

 

 

 

 

 

 

annuities and financial products

 

 79 

 

 

 71 

 

Interest on annuities and financial products

 

 648 

 

 

 635 

 

Total fixed charges

$

 727 

 

$

 706 

 



 

 

 

 

 

 

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

 

 

 

 

 

 

of fixed charges excluding interest on annuities and

 

 

 

 

 

 

financial products

 

 7.01 

 

 

 4.31 

 

Ratio of adjusted income (loss) base to total fixed

 

 

 

 

 

 

charges

 

 1.65 

 

 

 1.33