LINCOLN NATIONAL CORP
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LNC Q1 2026 request
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| Metric | Q1 2026 | Q1 2025 | YoY |
|---|---|---|---|
| Revenue (Q) | — | — | — |
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| Annuities · Operating Segments | 1,576 | 1,394 | +13.1% |
| Group Protection · Operating Segments | 1,555 | 1,519 | +2.4% |
| Life Insurance · Operating Segments | 1,785 | 1,408 | +26.8% |
| Retirement Plan Services · Operating Segments | 343 | 323 | +6.2% |
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| Revenue | 5,306 | 4,691 | +13.1% |
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| Corporate Non Segment | 47 | 47 | 0.0% |
| General & Administrative (Q) | — | — | — |
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| Annuities · Operating Segments | 133 | 125 | +6.4% |
| Group Protection · Operating Segments | 230 | 222 | +3.6% |
| Life Insurance · Operating Segments | 129 | 131 | -1.5% |
| Retirement Plan Services · Operating Segments | 89 | 84 | +6.0% |
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| Corporate Non Segment | 63 | 68 | -7.4% |
| Operating Segments and Corporate Non Segment | 644 | 630 | +2.2% |
| Operating Expenses (Q) | — | — | — |
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| Annuities · Operating Segments | 949 | 858 | +10.6% |
| Group Protection · Operating Segments | 1,412 | 1,393 | +1.4% |
| Life Insurance · Operating Segments | 1,586 | 1,619 | -2.0% |
| Retirement Plan Services · Operating Segments | 295 | 289 | +2.1% |
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| Corporate Non Segment | 199 | 164 | +21.3% |
| Operating Segments and Corporate Non Segment | 4,441 | 4,323 | +2.7% |
| Operating Income (Q) | — | — | — |
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| Annuities · Operating Segments | 275 | 290 | -5.2% |
| Group Protection · Operating Segments | 112 | 101 | +10.9% |
| Life Insurance · Operating Segments | 41 | -16 | +356.2% |
| Retirement Plan Services · Operating Segments | 43 | 34 | +26.5% |
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| Corporate Non Segment | -111 | -95 | -16.8% |
| Operating Segments and Corporate Non Segment | 360 | 314 | +14.6% |
| Income Before Taxes (Q) | — | — | — |
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| Accumulated Gain Loss Net Cash Flow Hedge Parent · Reclassification Out Of Accumulated Other Comprehensive Income | -18 | -21 | +14.3% |
| Accumulated Net Unrealized Investment Gain Loss · Reclassification Out Of Accumulated Other Comprehensive Income | 13 | 90 | -85.6% |
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| Income Before Taxes | -246 | -949 | +74.1% |
| Income Tax Expense (Benefit) (Q) | — | — | — |
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| Annuities · Operating Segments | 59 | 50 | +18.0% |
| Group Protection · Operating Segments | 30 | 27 | +11.1% |
| Life Insurance · Operating Segments | 1 | -16 | +106.2% |
| Retirement Plan Services · Operating Segments | 8 | 4 | +100.0% |
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| Accumulated Gain Loss Net Cash Flow Hedge Parent · Reclassification Out Of Accumulated Other Comprehensive Income | -4 | -4 | 0.0% |
| Accumulated Net Unrealized Investment Gain Loss · Reclassification Out Of Accumulated Other Comprehensive Income | 3 | 19 | -84.2% |
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| Income Tax Expense (Benefit) | -74 | -227 | +67.4% |
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| Corporate Non Segment | -31 | -17 | -82.4% |
| Operating Segments and Corporate Non Segment | 67 | 48 | +39.6% |
| Comprehensive Income (Q) | — | — | — |
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| Comprehensive Income | -581 | 8 | -7362.5% |
| Other Comprehensive Income (Q) | — | — | — |
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| Accumulated Translation Adjustment | -3 | 5 | -160.0% |
| EPS (Basic) (Q) | — | — | — |
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| EPS (Basic) | -1.08 | -4.41 | +75.5% |
| EPS (Diluted) (Q) | — | — | — |
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| EPS (Diluted) | -1.1 | -4.41 | +75.1% |
| Wtd Avg Shares (Basic) (Q) | — | — | — |
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| Wtd Avg Shares (Basic) | 191,891,461 | 171,321,440 | +12.0% |
| Wtd Avg Shares (Diluted) (Q) | — | — | — |
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| Wtd Avg Shares (Diluted) | 196,496,544 | 174,087,020 | +12.9% |
| Net Income Loss Available To Common Stockholders Basic (Q) | — | — | — |
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| Net Income Loss Available To Common Stockholders Basic | -206 | -756 | +72.8% |
| Policyholder Benefits And Claims Incurred Net (Q) | — | — | — |
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| Accumulated Net Unrealized Investment Gain Loss · Reclassification Out Of Accumulated Other Comprehensive Income | 2 | 28 | -92.9% |
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| Policyholder Benefits And Claims Incurred Net | 2,055 | 2,068 | -0.6% |
Balance Sheet
| Metric | Q1 2026 | Q1 2025 | YoY |
|---|---|---|---|
| Non-Current Assets | |||
| Goodwill (Q) | — | — | — |
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| Goodwill | 1,144 | 1,144 | 0.0% |
| Total Assets (Q) | — | — | — |
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| Total Assets | 406,161 | 382,898 | +6.1% |
| Other Assets | |||
| Equity Securities Fv Ni (Q) | — | — | — |
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| Equity Securities Fv Ni | 475 | 345 | +37.7% |
| Derivative Assets (Q) | — | — | — |
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| Derivative Assets | 8,337 | 7,849 | +6.2% |
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| Variable Interest Entity Primary Beneficiary | 390 | — | — |
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| Fortitude Re | 13 | 19 | -31.6% |
| Other Investments (Q) | — | — | — |
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| Other Investments | 8,742 | 6,653 | +31.4% |
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| Variable Interest Entity Not Primary Beneficiary | 5.7 | 5.6 | +1.8% |
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| Fortitude Re | 1,252 | 1,465 | -14.5% |
| Investments (Q) | — | — | — |
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| Investments | 138,737 | 129,215 | +7.4% |
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| Fortitude Re | 8.5 | 9.2 | -7.6% |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents (Q) | — | — | — |
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| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | 7,345 | 4,284 | +71.5% |
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| Fortitude Re | 42 | 104 | -59.6% |
| Deferred Policy Acquisition Costs Value Of Business Acquired And Deferred Sales Inducements (Q) | — | — | — |
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| Fixed Annuity | 504 | 416 | +21.2% |
| Variable Annuity | 4,143 | 4,001 | +3.5% |
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| Group Protection | 196 | 181 | +8.3% |
| Retirement Plan Services | 306 | 288 | +6.2% |
| Traditional Life | 1,295 | 1,352 | -4.2% |
| UL and Other | 6,434 | 6,323 | +1.8% |
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| Deferred Policy Acquisition Costs Value Of Business Acquired And Deferred Sales Inducements | 12,886 | 12,563 | +2.6% |
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| Corporate Non Segment | 8 | 2 | +300.0% |
| Reinsurance Recoverables (Q) | — | — | — |
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| Reinsurance Recoverables | 27,688 | 28,580 | -3.1% |
| Deposit Assets (Q) | — | — | — |
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| Deposit Assets | 33,597 | 31,048 | +8.2% |
| Market Risk Benefit Asset Amount (Q) | — | — | — |
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| Fixed Annuity | 49 | — | — |
| Retirement Plan Services | 44 | — | — |
| Variable Annuity | 4,210 | — | — |
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| Fair Value Inputs Level3 · Ceded MRBs | 2 | — | — |
| Fair Value Inputs Level3 · MRB assets | 4,303 | — | — |
| Fair Value Inputs Level3 · Other assets – ceded MRBs | 2 | — | — |
| Fair Value Inputs Level3 · Valuation Technique Discounted Cash Flow | 4,303 | — | — |
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| Ceded MRBs | 2 | — | — |
| MRB assets | 4,303 | — | — |
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| Market Risk Benefit Asset Amount | 4,303 | — | — |
| Accrued Investment Income Receivable (Q) | — | — | — |
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| Accrued Investment Income Receivable | 1,170 | 1,134 | +3.2% |
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| Fortitude Re | 87 | 93 | -6.5% |
| Other Assets (Q) | — | — | — |
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| Other Assets | 7,248 | — | — |
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| Fortitude Re | 2 | — | — |
| Separate Account Assets (Q) | — | — | — |
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| Fair Value Inputs Level1 | 367 | — | — |
| Fair Value Inputs Level2 | 171,676 | — | — |
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| Domestic · Separate Account Equity Security | 79,084 | — | — |
| International · Separate Account Equity Security | 17,480 | — | — |
| Other equity funds · Separate Account Equity Security | 1,566 | — | — |
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| Separate Account Assets | 172,043 | — | — |
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| Balanced funds | 44,550 | — | — |
| Bond funds | 23,927 | — | — |
| Exchange-traded funds | 239 | — | — |
| Money market funds | 2,190 | — | — |
| Other funds | 1,505 | — | — |
| Other investments | 1,262 | — | — |
| Separate Account Cash And Cash Equivalents | 70 | — | — |
| Separate Account Debt Security | 170 | — | — |
| Non-Current Liabilities | |||
| Long-Term Debt (Q) | — | — | — |
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| Funding Agreement Backed Notes Program · The Lincoln National Life Insurance Company | 1.9 | 500 | -99.6% |
| Funding Agreement Backed Notes Program · The Lincoln National Life Insurance Company | 1.7 | — | — |
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| Long-Term Debt | 5,969 | 5,868 | +1.7% |
| Total Liabilities (Q) | — | — | — |
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| Total Liabilities | 395,949 | 374,705 | +5.7% |
| Other Liabilities | |||
| Debt Securities Available For Sale Excluding Accrued Interest (Q) | — | — | — |
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| Fair Value Inputs Level1 · Hybrid and redeemable preferred securities | 31 | — | — |
| Fair Value Inputs Level1 · US Government Debt Securities | 900 | — | — |
| Fair Value Inputs Level2 · Asset Backed Securities | 13,550 | — | — |
| Fair Value Inputs Level2 · Commercial Mortgage Backed Securities | 2,566 | — | — |
| Fair Value Inputs Level2 · Corporate Bond Securities | 65,002 | — | — |
| Fair Value Inputs Level2 · Foreign Government Debt Securities | 202 | — | — |
| Fair Value Inputs Level2 · Hybrid and redeemable preferred securities | 123 | — | — |
| Fair Value Inputs Level2 · Residential Mortgage Backed Securities | 2,063 | — | — |
| Fair Value Inputs Level2 · US Government Debt Securities | 19 | — | — |
| Fair Value Inputs Level2 · US States And Political Subdivisions | 2,124 | — | — |
| Fair Value Inputs Level3 · Asset Backed Securities | 4,153 | — | — |
| Fair Value Inputs Level3 · Asset Backed Securities | 7 | — | — |
| Fair Value Inputs Level3 · Commercial Mortgage Backed Securities | 103 | — | — |
| Fair Value Inputs Level3 · Commercial Mortgage Backed Securities | 40 | — | — |
| Fair Value Inputs Level3 · Corporate Bond Securities | 3,282 | — | — |
| Fair Value Inputs Level3 · Corporate Bond Securities | 322 | — | — |
| Fair Value Inputs Level3 · Hybrid and redeemable preferred securities | 82 | — | — |
| Fair Value Inputs Level3 · Hybrid and redeemable preferred securities | 40 | — | — |
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| Asset Backed Securities | 17,703 | — | — |
| Commercial Mortgage Backed Securities | 2,669 | — | — |
| Corporate Bond Securities | 68,284 | — | — |
| Fixed maturity AFS securities other than structured securities | 71,765 | — | — |
| Foreign Government Debt Securities | 202 | — | — |
| Hybrid and redeemable preferred securities | 236 | — | — |
| Residential Mortgage Backed Securities | 2,063 | — | — |
| Structured securities (RMBS, CMBS, ABS) | 22,435 | — | — |
| US Government Debt Securities | 919 | — | — |
| US States And Political Subdivisions | 2,124 | — | — |
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| Debt Securities Available For Sale Excluding Accrued Interest | 94,200 | — | — |
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| Fortitude Re | 7,132 | — | — |
| Trading Securities Debt (Q) | — | — | — |
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| Fair Value Inputs Level2 | 1,329 | — | — |
| Fair Value Inputs Level3 | 223 | — | — |
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| Trading Securities Debt | 1,552 | — | — |
| Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss (Q) | — | — | — |
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| Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss | 22,825 | 21,558 | +5.9% |
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| Commercial Real Estate Portfolio Segment | 17,484 | 17,514 | -0.2% |
| Residential Portfolio Segment | 5,341 | 4,044 | +32.1% |
| Policyholder Funds (Q) | — | — | — |
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| Fixed Annuity | 28,974 | 26,039 | +11.3% |
| Fixed Annuity · 1.01% - 2.00% | 9,017 | 6,640 | +35.8% |
| Fixed Annuity · 101-150 Basis Points Above | 175 | 392 | -55.4% |
| Fixed Annuity · 101-150 Basis Points Above | 53 | 161 | -67.1% |
| Fixed Annuity · 101-150 Basis Points Above | 2 | 2 | 0.0% |
| Fixed Annuity · 101-150 Basis Points Above | 120 | 229 | -47.6% |
| Fixed Annuity · 2.01% - 3.00% | 1,421 | 1,573 | -9.7% |
| Fixed Annuity · 3.01% - 4.00% | 793 | 930 | -14.7% |
| Fixed Annuity · 4.01% and above | 155 | 166 | -6.6% |
| Fixed Annuity · 51-100 Basis Points Above | 508 | 606 | -16.2% |
| Fixed Annuity · 51-100 Basis Points Above | 95 | 146 | -34.9% |
| Fixed Annuity · 51-100 Basis Points Above | 1 | 1 | 0.0% |
| Fixed Annuity · 51-100 Basis Points Above | 412 | 459 | -10.2% |
| Fixed Annuity · Other | 14,060 | 12,720 | +10.5% |
| Fixed Annuity · Policyholder Account Balance Above Guaranteed Minimum Crediting Rate Range From0001 To0050 | 997 | 1,090 | -8.5% |
| Fixed Annuity · Policyholder Account Balance Above Guaranteed Minimum Crediting Rate Range From0001 To0050 | 236 | 202 | +16.8% |
| Fixed Annuity · Policyholder Account Balance Above Guaranteed Minimum Crediting Rate Range From0001 To0050 | 85 | 33 | +157.6% |
| Fixed Annuity · Policyholder Account Balance Above Guaranteed Minimum Crediting Rate Range From0001 To0050 | 676 | 855 | -20.9% |
| Fixed Annuity · Policyholder Account Balance Above Guaranteed Minimum Crediting Rate Range From0151 And Greater | 10,708 | 8,212 | +30.4% |
| Fixed Annuity · Policyholder Account Balance Above Guaranteed Minimum Crediting Rate Range From0151 And Greater | 8,462 | 5,908 | +43.2% |
| Fixed Annuity · Policyholder Account Balance Above Guaranteed Minimum Crediting Rate Range From0151 And Greater | 62 | 38 | +63.2% |
| Fixed Annuity · Policyholder Account Balance Above Guaranteed Minimum Crediting Rate Range From0151 And Greater | 2,184 | 2,266 | -3.6% |
| Fixed Annuity · Policyholder Account Balance At Guaranteed Minimum Crediting Rate | 2,526 | 3,019 | -16.3% |
| Fixed Annuity · Policyholder Account Balance At Guaranteed Minimum Crediting Rate | 171 | 223 | -23.3% |
| Fixed Annuity · Policyholder Account Balance At Guaranteed Minimum Crediting Rate | 1,271 | 1,499 | -15.2% |
| Fixed Annuity · Policyholder Account Balance At Guaranteed Minimum Crediting Rate | 793 | 930 | -14.7% |
| Fixed Annuity · Policyholder Account Balance At Guaranteed Minimum Crediting Rate | 155 | 166 | -6.6% |
| Fixed Annuity · Policyholder Account Balance At Guaranteed Minimum Crediting Rate | 136 | 201 | -32.3% |
| Fixed Annuity · Up to 1.00% | 3,528 | 4,010 | -12.0% |
| Other Longduration Insurance Product Line | 8,149 | — | — |
| Other Longduration Insurance Product Line · Funding Agreement Backed Notes Program | 4.4 | — | — |
| Other Longduration Insurance Product Line · Reinsurance Agreement | 3.5 | — | — |
| Retirement Plan Services | 23,694 | 23,479 | +0.9% |
| Retirement Plan Services · 1.01% - 2.00% | 3,950 | 4,433 | -10.9% |
| Retirement Plan Services · 101-150 Basis Points Above | 4,016 | 3,961 | +1.4% |
| Retirement Plan Services · 101-150 Basis Points Above | 168 | 451 | -62.7% |
| Retirement Plan Services · 101-150 Basis Points Above | 3 | 1 | +200.0% |
| Retirement Plan Services · 101-150 Basis Points Above | 7 | 11 | -36.4% |
| Retirement Plan Services · 101-150 Basis Points Above | 3,838 | 3,498 | +9.7% |
| Retirement Plan Services · 2.01% - 3.00% | 2,099 | 2,289 | -8.3% |
| Retirement Plan Services · 3.01% - 4.00% | 3,839 | 4,319 | -11.1% |
| Retirement Plan Services · 4.01% and above | 1,502 | 1,564 | -4.0% |
| Retirement Plan Services · 51-100 Basis Points Above | 2,366 | 2,583 | -8.4% |
| Retirement Plan Services · 51-100 Basis Points Above | 1,319 | 1,847 | -28.6% |
| Retirement Plan Services · 51-100 Basis Points Above | 489 | 3 | +16200.0% |
| Retirement Plan Services · 51-100 Basis Points Above | 7 | 8 | -12.5% |
| Retirement Plan Services · 51-100 Basis Points Above | 551 | 725 | -24.0% |
| Retirement Plan Services · Policyholder Account Balance Above Guaranteed Minimum Crediting Rate Range From0001 To0050 | 2,205 | 1,957 | +12.7% |
| Retirement Plan Services · Policyholder Account Balance Above Guaranteed Minimum Crediting Rate Range From0001 To0050 | 1,424 | 996 | +43.0% |
| Retirement Plan Services · Policyholder Account Balance Above Guaranteed Minimum Crediting Rate Range From0001 To0050 | 25 | 542 | -95.4% |
| Retirement Plan Services · Policyholder Account Balance Above Guaranteed Minimum Crediting Rate Range From0001 To0050 | 75 | 107 | -29.9% |
| Retirement Plan Services · Policyholder Account Balance Above Guaranteed Minimum Crediting Rate Range From0001 To0050 | 681 | 312 | +118.3% |
| Retirement Plan Services · Policyholder Account Balance Above Guaranteed Minimum Crediting Rate Range From0151 And Greater | 7,054 | 6,428 | +9.7% |
| Retirement Plan Services · Policyholder Account Balance Above Guaranteed Minimum Crediting Rate Range From0151 And Greater | 506 | 662 | -23.6% |
| Retirement Plan Services · Policyholder Account Balance Above Guaranteed Minimum Crediting Rate Range From0151 And Greater | 6,548 | 5,766 | +13.6% |
| Retirement Plan Services · Policyholder Account Balance At Guaranteed Minimum Crediting Rate | 8,053 | 8,550 | -5.8% |
| Retirement Plan Services · Policyholder Account Balance At Guaranteed Minimum Crediting Rate | 533 | 477 | +11.7% |
| Retirement Plan Services · Policyholder Account Balance At Guaranteed Minimum Crediting Rate | 1,582 | 1,743 | -9.2% |
| Retirement Plan Services · Policyholder Account Balance At Guaranteed Minimum Crediting Rate | 3,750 | 4,193 | -10.6% |
| Retirement Plan Services · Policyholder Account Balance At Guaranteed Minimum Crediting Rate | 1,502 | 1,564 | -4.0% |
| Retirement Plan Services · Policyholder Account Balance At Guaranteed Minimum Crediting Rate | 686 | 573 | +19.7% |
| Retirement Plan Services · Up to 1.00% | 12,304 | 10,874 | +13.2% |
| UL and Other | 35,723 | 36,220 | -1.4% |
| UL and Other · 1.01% - 2.00% | 3,141 | 3,517 | -10.7% |
| UL and Other · 101-150 Basis Points Above | 32 | 31 | +3.2% |
| UL and Other · 101-150 Basis Points Above | 32 | 31 | +3.2% |
| UL and Other · 2.01% - 3.00% | 6,336 | 6,644 | -4.6% |
| UL and Other · 3.01% - 4.00% | 14,295 | 14,973 | -4.5% |
| UL and Other · 4.01% and above | 3,402 | 3,525 | -3.5% |
| UL and Other · 51-100 Basis Points Above | 399 | 384 | +3.9% |
| UL and Other · 51-100 Basis Points Above | 156 | 152 | +2.6% |
| UL and Other · 51-100 Basis Points Above | 1 | 1 | 0.0% |
| UL and Other · 51-100 Basis Points Above | 242 | 231 | +4.8% |
| UL and Other · Other | 7,293 | 6,585 | +10.8% |
| UL and Other · Policyholder Account Balance Above Guaranteed Minimum Crediting Rate Range From0001 To0050 | 8 | 9 | -11.1% |
| UL and Other · Policyholder Account Balance Above Guaranteed Minimum Crediting Rate Range From0001 To0050 | 8 | 9 | -11.1% |
| UL and Other · Policyholder Account Balance Above Guaranteed Minimum Crediting Rate Range From0151 And Greater | 3,340 | 3,429 | -2.6% |
| UL and Other · Policyholder Account Balance Above Guaranteed Minimum Crediting Rate Range From0151 And Greater | 2,624 | 2,976 | -11.8% |
| UL and Other · Policyholder Account Balance Above Guaranteed Minimum Crediting Rate Range From0151 And Greater | 716 | 453 | +58.1% |
| UL and Other · Policyholder Account Balance At Guaranteed Minimum Crediting Rate | 24,651 | 25,782 | -4.4% |
| UL and Other · Policyholder Account Balance At Guaranteed Minimum Crediting Rate | 517 | 541 | -4.4% |
| UL and Other · Policyholder Account Balance At Guaranteed Minimum Crediting Rate | 6,172 | 6,483 | -4.8% |
| UL and Other · Policyholder Account Balance At Guaranteed Minimum Crediting Rate | 14,294 | 14,972 | -4.5% |
| UL and Other · Policyholder Account Balance At Guaranteed Minimum Crediting Rate | 3,402 | 3,525 | -3.5% |
| UL and Other · Policyholder Account Balance At Guaranteed Minimum Crediting Rate | 266 | 261 | +1.9% |
| UL and Other · Up to 1.00% | 1,256 | 976 | +28.7% |
| Variable Annuity | 39,143 | 34,370 | +13.9% |
| Variable Annuity · 1.01% - 2.00% | 9 | 10 | -10.0% |
| Variable Annuity · 2.01% - 3.00% | 451 | 495 | -8.9% |
| Variable Annuity · 3.01% - 4.00% | 1,088 | 1,197 | -9.1% |
| Variable Annuity · 4.01% and above | 5 | 7 | -28.6% |
| Variable Annuity · Other | 37,590 | 32,652 | +15.1% |
| Variable Annuity · Policyholder Account Balance Above Guaranteed Minimum Crediting Rate Range From0151 And Greater | 4 | 7 | -42.9% |
| Variable Annuity · Policyholder Account Balance Above Guaranteed Minimum Crediting Rate Range From0151 And Greater | 4 | 7 | -42.9% |
| Variable Annuity · Policyholder Account Balance At Guaranteed Minimum Crediting Rate | 1,549 | 1,711 | -9.5% |
| Variable Annuity · Policyholder Account Balance At Guaranteed Minimum Crediting Rate | 5 | 3 | +66.7% |
| Variable Annuity · Policyholder Account Balance At Guaranteed Minimum Crediting Rate | 451 | 495 | -8.9% |
| Variable Annuity · Policyholder Account Balance At Guaranteed Minimum Crediting Rate | 1,088 | 1,197 | -9.1% |
| Variable Annuity · Policyholder Account Balance At Guaranteed Minimum Crediting Rate | 5 | 7 | -28.6% |
Show Fair Value Hierarchy breakouts |
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| Fair Value Inputs Level2 · Policyholder account balances – funding agreements | 4,364 | — | — |
| Fair Value Inputs Level3 · Policyholder account balances – certain investment contracts | 35,870 | — | — |
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| Policyholder account balances – certain investment contracts · Carrying Reported Amount Fair Value Disclosure | 44,028 | — | — |
| Policyholder account balances – certain investment contracts · Portion At Other Than Fair Value Fair Value Disclosure | 35,870 | — | — |
| Policyholder account balances – funding agreements · Carrying Reported Amount Fair Value Disclosure | 4,399 | — | — |
| Policyholder account balances – funding agreements · Portion At Other Than Fair Value Fair Value Disclosure | 4,364 | — | — |
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| Policyholder Funds | 135,683 | — | — |
| Liability For Future Policy Benefits And Unpaid Claims And Claims Adjustment Expense (Q) | — | — | — |
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| Liability For Future Policy Benefits And Unpaid Claims And Claims Adjustment Expense | 42,010 | 40,665 | +3.3% |
| Funds Held Under Reinsurance Agreements Liability (Q) | — | — | — |
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| Funds Held Under Reinsurance Agreements Liability | 17,564 | 16,838 | +4.3% |
| Market Risk Benefit Liability Amount (Q) | — | — | — |
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| Fixed Annuity | 168 | — | — |
| Retirement Plan Services | 2 | — | — |
| Variable Annuity | 957 | — | — |
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| Fair Value Inputs Level3 · Ceded MRBs | 329 | — | — |
| Fair Value Inputs Level3 · MRB liabilities | 1,127 | — | — |
| Fair Value Inputs Level3 · Other liabilities – ceded MRBs | 329 | — | — |
| Fair Value Inputs Level3 · Valuation Technique Discounted Cash Flow | 1,127 | — | — |
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| Ceded MRBs | 329 | — | — |
| MRB liabilities | 1,127 | — | — |
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| Market Risk Benefit Liability Amount | 1,127 | — | — |
| Deferred Front End Loads (Q) | — | — | — |
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| Variable Annuity | 261 | 270 | -3.3% |
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| UL and Other | 7,485 | 6,587 | +13.6% |
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| Deferred Front End Loads | 7,804 | 6,910 | +12.9% |
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| Corporate Non Segment | 58 | 53 | +9.4% |
| Deposits Received For Securities Loaned At Carrying Value (Q) | — | — | — |
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| Deposits Received For Securities Loaned At Carrying Value | 6,556 | 8,282 | -20.8% |
| Short Term Borrowings (Q) | — | — | — |
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| Short Term Borrowings | 400 | — | — |
| Other Liabilities (Q) | — | — | — |
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| Other Liabilities | 6,793 | 7,068 | -3.9% |
| Separate Accounts Liability (Q) | — | — | — |
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| Other Longduration Insurance Product Line | 59 | 57 | +3.5% |
| Retirement Plan Services | 22,031 | 20,708 | +6.4% |
| UL and Other | 33,237 | 28,106 | +18.3% |
| Variable Annuity | 116,716 | 113,635 | +2.7% |
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| Separate Accounts Liability | 172,043 | 162,506 | +5.9% |
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| Protective · Reinsurance Agreement | 51 | 47 | +8.5% |
| Stockholders' Equity | |||
| Preferred Stock Value Outstanding (Q) | — | — | — |
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| Series C Preferred Stock | 493 | 493 | 0.0% |
| Series D Preferred Stock | 493 | 493 | 0.0% |
| Common Stock Value Outstanding (Q) | — | — | — |
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| Common Stock Value Outstanding | 5,602 | 4,703 | +19.1% |
| Retained Earnings (Q) | — | — | — |
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| Retained Earnings | 8,091 | 6,810 | +18.8% |
| Accumulated Other Comprehensive Income (Q) | — | — | — |
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| Accumulated Other Comprehensive Income | -4,467 | -4,306 | -3.7% |
| Total Stockholders' Equity (Q) | — | — | — |
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| Accumulated Defined Benefit Plans Adjustment | -292 | -301 | +3.0% |
| Accumulated Gain Loss Net Cash Flow Hedge Parent | 544 | 637 | -14.6% |
| Accumulated Net Unrealized Investment Gain Loss | -5,444 | -5,715 | +4.7% |
| Accumulated Other Comprehensive Income | -4,467 | -4,306 | -3.7% |
| Accumulated Translation Adjustment | -21 | -24 | +12.5% |
| Aoci Liability For Future Policy Benefit Parent | 566 | 633 | -10.6% |
| Aoci Market Risk Benefit Instrument Specific Credit Risk Parent | 180 | 464 | -61.2% |
| Common Stock | 5,602 | 4,703 | +19.1% |
| Preferred Stock | 986 | 986 | 0.0% |
| Retained Earnings | 8,091 | 6,810 | +18.8% |
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| Total Stockholders' Equity | 10,212 | 8,193 | +24.6% |
| Total Liabilities & Equity (Q) | — | — | — |
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| Total Liabilities & Equity | 406,161 | 382,898 | +6.1% |
| Loans Insurance Policy (Q) | — | — | — |
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| Loans Insurance Policy | 2,606 | 2,529 | +3.0% |
Cash Flow Statement
| Metric | YTD Q1 2026 | YTD Q1 2025 | YoY |
|---|---|---|---|
| Operating Activities | |||
| Net Income (Q) | — | — | — |
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| Accumulated Gain Loss Net Cash Flow Hedge Parent · Reclassification Out Of Accumulated Other Comprehensive Income | -14 | -17 | +17.6% |
| Accumulated Net Unrealized Investment Gain Loss · Reclassification Out Of Accumulated Other Comprehensive Income | 10 | 71 | -85.9% |
| Retained Earnings | -172 | -722 | +76.2% |
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| Net Income | -172 | -722 | +76.2% |
| Debt And Equity Securities Realized Gain Loss (Q) | — | — | — |
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| Accumulated Gain Loss Net Cash Flow Hedge Parent · Reclassification Out Of Accumulated Other Comprehensive Income | -1 | -3 | +66.7% |
| Accumulated Net Unrealized Investment Gain Loss · Reclassification Out Of Accumulated Other Comprehensive Income | 15 | 118 | -87.3% |
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| Debt And Equity Securities Realized Gain Loss | 466 | 11 | +4136.4% |
| Market Risk Benefit Change In Fair Value Gain Loss (Q) | — | — | — |
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| Market Risk Benefit Change In Fair Value Gain Loss | 987 | 1,293 | -23.7% |
| Proceeds From Payments For Trading Securities (Q) | — | — | — |
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| Proceeds From Payments For Trading Securities | 103 | 71 | +45.1% |
| Deferred Acquisition Costs Value Of Business Acquired Deferred Sales Inducements And Deferred Front End Loads Deferrals And Interest Net Of Amortization (Q) | — | — | — |
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| Deferred Acquisition Costs Value Of Business Acquired Deferred Sales Inducements And Deferred Front End Loads Deferrals And Interest Net Of Amortization | 163 | 156 | +4.5% |
| Increase Decrease In Accrued Investment Income Receivable (Q) | — | — | — |
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| Increase Decrease In Accrued Investment Income Receivable | -33 | -16 | -106.2% |
| Change In Insurance Liabilities And Reinsurance Related Balance (Q) | — | — | — |
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| Change In Insurance Liabilities And Reinsurance Related Balance | -307 | -449 | +31.6% |
| Increase Decrease In Accrued Liabilities (Q) | — | — | — |
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| Increase Decrease In Accrued Liabilities | -98 | -227 | +56.8% |
| Increase Decrease In Income Taxes (Q) | — | — | — |
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| Increase Decrease In Income Taxes | -74 | -227 | +67.4% |
| Other Non-Cash Items (Q) | — | — | — |
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| Other Non-Cash Items | 35 | -140 | +125.0% |
| Net Cash from Operations (Q) | — | — | — |
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| Net Cash from Operations | 138 | -272 | +150.7% |
| Investing Activities | |||
| Payments To Acquire Debt Securities Available For Sale And Equity Securities F V N I (Q) | — | — | — |
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| Payments To Acquire Debt Securities Available For Sale And Equity Securities F V N I | -4,847 | -3,513 | -38.0% |
| Proceeds From Sale Of Debt Securities Available For Sale And Equity Securities (Q) | — | — | — |
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| Proceeds From Sale Of Debt Securities Available For Sale And Equity Securities | 424 | 300 | +41.3% |
| Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities (Q) | — | — | — |
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| Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities | 2,595 | 2,689 | -3.5% |
| Payments To Acquire Other Investments (Q) | — | — | — |
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| Payments To Acquire Other Investments | -417 | -397 | -5.0% |
| Proceeds From Sale And Maturity Of Other Investments (Q) | — | — | — |
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| Proceeds From Sale And Maturity Of Other Investments | 350 | 222 | +57.7% |
| Issuance Of Mortgage Loans On Real Estate (Q) | — | — | — |
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| Issuance Of Mortgage Loans On Real Estate | -1,384 | -919 | -50.6% |
| Repayment And Maturities Of Mortgage Loans On Real Estate (Q) | — | — | — |
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| Repayment And Maturities Of Mortgage Loans On Real Estate | 811 | 502 | +61.6% |
| Payments For Proceeds From Policy Loans (Q) | — | — | — |
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| Payments For Proceeds From Policy Loans | 20 | -54 | +137.0% |
| Net Change In Collateral On Investments Derivatives And Related Settlements (Q) | — | — | — |
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| Net Change In Collateral On Investments Derivatives And Related Settlements | -971 | -799 | -21.5% |
| Other Investing Activities (Q) | — | — | — |
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| Other Investing Activities | -35 | -77 | +54.5% |
| Net Cash from Investing (Q) | — | — | — |
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| Net Cash from Investing | -3,454 | -2,046 | -68.8% |
| Financing Activities | |||
| Repayments Of Long Term Debt (Q) | — | — | — |
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| Repayments Of Long Term Debt | -150 | -300 | +50.0% |
| Proceeds From Issuance Of Long Term Debt (Q) | — | — | — |
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| SOFR Due 2031 · Term loans | 100 | — | — |
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| Proceeds From Issuance Of Long Term Debt | 250 | — | — |
| Payments Of Sale Leaseback Transactions (Q) | — | — | — |
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| Payments Of Sale Leaseback Transactions | -1 | -2 | +50.0% |
| Payments For Financing Leases And Other Financing Activities (Q) | — | — | — |
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| Payments For Financing Leases And Other Financing Activities | -15 | -14 | -7.1% |
| Deposits Of Fixed Account Values Including Fixed Portion Of Variable (Q) | — | — | — |
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| Deposits Of Fixed Account Values Including Fixed Portion Of Variable | 4,947 | 4,434 | +11.6% |
| Withdrawals Of Fixed Account Values Including Fixed Portion Of Variable (Q) | — | — | — |
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| Withdrawals Of Fixed Account Values Including Fixed Portion Of Variable | -3,232 | -3,129 | -3.3% |
| Transfers To And From Separate Accounts Net (Q) | — | — | — |
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| Transfers To And From Separate Accounts Net | -497 | -73 | -580.8% |
| Common Stock Issued For Benefit Plans (Q) | — | — | — |
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| Common Stock Issued For Benefit Plans | -23 | -4 | -475.0% |
| Payments Of Dividends Preferred Stock And Preference Stock (Q) | — | — | — |
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| Payments Of Dividends Preferred Stock And Preference Stock | -34 | -34 | 0.0% |
| Payments Of Dividends Common Stock (Q) | — | — | — |
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| Payments Of Dividends Common Stock | -86 | -77 | -11.7% |
| Net Cash from Financing (Q) | — | — | — |
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| Net Cash from Financing | 1,159 | 801 | +44.7% |
| Other Cash Flow | |||
| Net Change in Cash (Q) | — | — | — |
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| Net Change in Cash | -2,157 | -1,517 | -42.2% |
Values in millions USD. Source: SEC EDGAR 10-Q filing.