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Consolidated Statements Of Comprehensive Income (Loss) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues        
Insurance premiums $ 1,612 $ 1,498 $ 3,191 $ 2,975
Fee income 1,365 1,409 2,744 2,867
Net investment income 1,508 1,398 2,974 2,809
Realized gain (loss) (1,784) 1,101 (2,612) 1,282
Amortization of deferred gain on business sold through reinsurance 9 11 19 22
Other revenues 219 160 427 342
Total revenues 2,929 5,577 6,743 10,297
Expenses        
Benefits 2,192 1,954 4,483 4,110
Interest credited 808 710 1,593 1,407
Market risk benefit (gain) loss (2,023) 477 (1,404) (881)
Policyholder liability remeasurement (gain) loss (110) 85 (228) 126
Commissions and other expenses 1,335 1,207 2,637 2,460
Interest and debt expense 84 68 166 134
Spark program expense 41 44 64 75
Total expenses 2,327 4,545 7,311 7,431
Income (loss) before taxes 602 1,032 (568) 2,866
Federal income tax expense (benefit) 91 192 (198) 545
Net income (loss) 511 840 (370) 2,321
Other comprehensive income (loss), net of tax:        
Unrealized investment gain (loss) (513) (6,655) 1,261 (14,153)
Market risk benefit non-performance risk gain (loss) (924) 354 101 374
Policyholder liability discount rate remeasurement gain (loss) 112 710 (90) 1,521
Foreign currency translation adjustment 5 (14) 8 (19)
Funded status of employee benefit plans (30) 10 (32) 13
Total other comprehensive income (loss), net of tax (1,350) (5,595) 1,248 (12,264)
Comprehensive income (loss) (839) (4,755) 878 (9,943)
Net Income (Loss) Available to Common Stockholders        
Net income (loss) 511 840 (370) 2,321
Preferred stock dividends declared (11)   (36)  
Deferred units of LNC stock in our deferred compensation plans 2 (7) (2) (7)
Net income (loss) available to common stockholders $ 502 $ 833 $ (408) $ 2,314
Net Income (Loss) Per Common Share        
Basic (in dollars per share) $ 2.95 $ 4.91 $ (2.40) $ 13.44
Diluted (in dollars per share) 2.94 4.83 (2.41) 13.25
Cash Dividends Declared Per Preferred Share 562.50 1,817.19
Cash Dividends Declared Per Common Share 0.45 0.45 0.90 0.90
Series C Preferred Stock [Member]        
Net Income (Loss) Per Common Share        
Cash Dividends Declared Per Preferred Share   635.94
Series D Preferred Stock [Member]        
Net Income (Loss) Per Common Share        
Cash Dividends Declared Per Preferred Share $ 562.50 $ 1,181.25