{"id":523487,"date":"2021-08-04T16:19:42","date_gmt":"2021-08-04T20:19:42","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/lincoln-financial-group-reports-second-quarter-2021-results\/"},"modified":"2021-08-04T16:19:42","modified_gmt":"2021-08-04T20:19:42","slug":"lincoln-financial-group-reports-second-quarter-2021-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/lincoln-financial-group-reports-second-quarter-2021-results\/","title":{"rendered":"Lincoln Financial Group Reports Second Quarter 2021 Results"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwalignl { text-align: left }\n.bwalignr { text-align: right; list-style-position: inside }\n.bwblockalignl { margin-left: 0px; margin-right: auto }\n.bwcellpmargin { margin-bottom: 0px; margin-top: 0px }\n.bwdoublebottom { border-bottom: double black 2.25pt }\n.bwleftsingle { border-left: solid black 1pt }\n.bwlistcircle { list-style-type: circle }\n.bwlistdisc { list-style-type: disc }\n.bwnowrap { white-space: nowrap }\n.bwpadl0 { padding-left: 0px }\n.bwpadl1 { padding-left: 5px }\n.bwpadl3 { padding-left: 15px }\n.bwpadl9 { padding-left: 45px }\n.bwpadr0 { padding-right: 0px }\n.bwrightsingle { border-right: solid black 1pt }\n.bwsinglebottom { border-bottom: solid black 1pt }\n.bwtablemarginb { margin-bottom: 10px }\n.bwtopsingle { border-top: solid black 1pt }\n.bwuline { text-decoration: underline }\n.bwvertalignb { vertical-align: bottom }\n.bwvertalignt { vertical-align: top }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Lincoln Financial Group Reports Second Quarter 2021 Results<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li><i>Net income EPS of $3.34 and adjusted operating EPS of $3.17<\/i><\/li>\n<li><i>Adjusted operating EPS included $(0.22) from elevated pandemic-related claims experience and $0.59 of above targeted alternative investment income<\/i><\/li>\n<li><i>Net income ROE, including AOCI, of 12.4% and adjusted operating ROE, excluding AOCI, of 17.3%<\/i><\/li>\n<li><i>BVPS, including AOCI, of $115.00, up 7%; BVPS, excluding AOCI, of $75.45, up 9%<\/i><\/li>\n<li><i>$230 million of capital returned to shareholders, including $150 million in share repurchases<\/i><\/li>\n<\/ul>\n<p>RADNOR, Pa.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nLincoln Financial Group (NYSE: LNC) today reported net income for the second quarter of 2021 of $642 million, or $3.34 per diluted share available to common stockholders, compared to a net loss in the second quarter of 2020 of $(94) million, or $(0.49) per diluted share available to common stockholders. Second quarter adjusted income from operations was $608 million, or $3.17 per diluted share available to common stockholders, compared to adjusted income from operations of $187 million, or $0.97 per diluted share available to common stockholders, in the second quarter of 2020.<sup>1<\/sup><\/p>\n<p>\n\u201cSecond quarter adjusted income from operations was a record as our diversified business model and sources of earnings benefited from positive underwriting results, equity market tailwinds, and solid investment performance,\u201d said Dennis R. Glass, president and CEO of Lincoln Financial Group. \u201cWe believe strongly in our ability to deliver on our long-term financial targets given sales momentum, expense management opportunities, balance sheet strength and increased capital return. We are confident that our business model will continue to deliver strong performance.\u201d\n<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\">____________________\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><sup>1<\/sup> Due to reporting a net loss for the three months ended June 30, 2020, basic shares were used in the diluted EPS and adjusted diluted EPS calculations for those periods as the use of diluted shares would have resulted in a lower loss per share.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwblockalignl bwtablemarginb\">\n<tr>\n<td class=\"bwvertalignb bwtopsingle bwleftsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwtopsingle\" rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td colspan=\"5\" class=\"bwleftsingle bwrightsingle bwtopsingle bwsinglebottom bwalignc bwpadl1 bwnowrap bwvertalignb\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>As of or For the<br \/>\n<br \/>Quarter Ended<br \/>\n<br \/>June 30,<\/b><\/p>\n<\/td>\n<td colspan=\"5\" class=\"bwrightsingle bwtopsingle bwsinglebottom bwalignc bwpadl1 bwnowrap bwvertalignb\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>As of or For the<br \/>\n<br \/>Six Months Ended<br \/>\n<br \/>June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwsinglebottom bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n(in millions, except per share data)\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom\" rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td colspan=\"2\" class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwleftsingle bwalignc\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2021<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom\" rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td colspan=\"2\" class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwrightsingle bwalignc\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2020<\/b><\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwalignc\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2021<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom\" rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td colspan=\"2\" class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwrightsingle bwalignc\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2020<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNet Income (Loss)\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n642\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(94)\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n867\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(42)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNet Income (Loss) Available to Common Stockholders\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n642\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(94)\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n867\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(52)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNet Income (Loss) per Diluted Share Available to Common Stockholders <sup>(1)<\/sup><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3.34\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.49)\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n4.51\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.27)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nRevenues\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n4,851\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3,517\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n9,386\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n7,942\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAdjusted Income (Loss) from Operations\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n608\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n187\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n959\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n652\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAdjusted Income (Loss) from Operations per Diluted Share Available to Common Stockholders\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3.17\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0.97\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n4.98\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3.27\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAverage Diluted Shares\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n192.2\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n193.8\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n192.4\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n196.2\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nReturn on Equity (ROE), Including Accumulated Other Comprehensive Income (AOCI) (Net Income)\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n12.4%\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n-2.0%\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n8.3%\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n-0.5%\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAdjusted Operating ROE, Excluding AOCI (Adjusted Income from Operations)\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n17.3%\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n5.5%\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n13.8%\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n9.6%\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nBook Value per Share (BVPS), Including AOCI\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n115.00\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n107.28\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n115.00\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrightsingle bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n107.28\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nBook Value per Share, Excluding AOCI\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom\" rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n75.45\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom\" rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrightsingle bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n69.38\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n75.45\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom\" rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrightsingle bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n69.38\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><sup>1<\/sup> Due to reporting a net loss for the three months ended June 30, 2020 and six months ended June 30, 2020, basic shares were used in the diluted EPS and adjusted diluted EPS calculations for those periods as the use of diluted shares would have resulted in a lower loss per share.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><b>Operating Highlights \u2013 Second Quarter 2021 vs. Second Quarter 2020<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nOperating revenues increased in all four business segments\n<\/li>\n<li>\nAnnuities sales of $3.2 billion, up 28%\n<\/li>\n<li>\nRetirement Plan Services deposits of $2.8 billion, up 21% including double-digit growth in both first-year sales and recurring deposits\n<\/li>\n<li>\nLife Insurance average account values of $59 billion, up 12%\n<\/li>\n<li>\nGroup Protection insurance premiums of $1.1 billion, up 2%\n<\/li>\n<\/ul>\n<p>\nThere were no notable items within adjusted income from operations for the current quarter or the prior-year quarter.\n<\/p>\n<p><b>Second Quarter 2021 \u2013 Segment Results<\/b><\/p>\n<p><b><i>Annuities<\/i><\/b><\/p>\n<p>\nAnnuities reported income from operations of $323 million, up 36% compared to the prior-year quarter. The increase was driven by higher account values from strong equity market performance and favorable returns within the company\u2019s alternative investment portfolio.\n<\/p>\n<p>\nTotal annuity deposits of $3.2 billion were up 28% from the prior-year quarter. Total variable annuity sales of $3.0 billion were up 37% versus the prior-year quarter as strong growth in variable annuity sales without guaranteed living benefits more than offset declines in variable annuity sales with living benefits and fixed annuities.\n<\/p>\n<p>\nNet outflows were $297 million in the quarter. Average account values for the quarter of $166 billion were up 24% over the prior-year quarter, with 48% of total annuities account values without guaranteed living benefits, up 2 percentage points over the prior-year period.\n<\/p>\n<p><b><i>Retirement Plan Services<\/i><\/b><\/p>\n<p>\nRetirement Plan Services reported income from operations of $62 million, up 107% compared to the prior-year quarter with the increase driven by higher account values from strong equity market performance and positive net flows and favorable returns within the company\u2019s alternative investment portfolio.\n<\/p>\n<p>\nTotal deposits for the quarter of $2.8 billion were up 21% compared to the prior-year quarter driven by double-digit growth in both first-year sales and recurring deposits.\n<\/p>\n<p>\nNet flows totaled $517 million for the quarter and $1.6 billion over the trailing twelve months. Average account values for the quarter of $94 billion were up 28% over the prior-year quarter.\n<\/p>\n<p><b><i>Life Insurance <\/i><\/b><\/p>\n<p>\nLife Insurance reported income from operations of $255 million compared to a loss from operations of $(37) million in the prior-year quarter driven by favorable returns within the company\u2019s alternative investment portfolio and improved mortality results as pandemic impacts have declined.\n<\/p>\n<p>\nTotal Life Insurance sales were $126 million compared to $159 million in the prior-year quarter, however sales increased 11% sequentially.\n<\/p>\n<p>\nAverage Life Insurance in-force of $917 billion grew 7% over the prior-year quarter, and average account values of $59 billion increased 12% over the same period.\n<\/p>\n<p><b><i>Group Protection<\/i><\/b><\/p>\n<p>\nGroup Protection reported income from operations of $46 million in the quarter, up 18% compared to the prior-year quarter. This improvement was driven by a lower mortality impact from the pandemic, favorable returns within the company\u2019s alternative investment portfolio, and premium growth.\n<\/p>\n<p>\nThe total loss ratio was 79% in the current quarter compared to 78% in the prior-year quarter with the slight increase driven by favorable dental utilization in the prior-year quarter.\n<\/p>\n<p>\nGroup Protection sales were $79 million in the quarter compared to $105 million in the prior-year quarter. Employee-paid sales represented 56% of total sales. Insurance premiums of $1.1 billion in the quarter were up 2% compared to the prior-year quarter.\n<\/p>\n<p><b><i>Other Operations<\/i><\/b><\/p>\n<p>\nOther Operations reported a loss from operations of $(78) million versus a loss of $(82) million in the prior-year quarter.\n<\/p>\n<p><b>Realized Gains and Losses \/ Impacts to Net Income<\/b><\/p>\n<p>\nRealized gains\/losses and impacts to net income (after-tax) in the quarter were primarily driven by:\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nA $14 million realized gain related to financial assets.\n<\/li>\n<li>\nA $13 million gain from variable annuity hedge program performance.\n<\/li>\n<li>\nAn $8 million gain from indexed annuity forward-starting options.\n<\/li>\n<\/ul>\n<p><b>Unrealized Gains and Losses<\/b><\/p>\n<p>\nThe company reported a net unrealized gain of $15.5 billion, pre-tax, on its available-for-sale securities at June 30, 2021. This compares to a net unrealized gain of $14.7 billion, pre-tax, at June 30, 2020, with the year-over-year increase primarily driven by tighter credit spreads.\n<\/p>\n<p><b>Share Count<\/b><\/p>\n<p>\nThe quarter\u2019s average diluted share count of 192.2 million was down 1% from the second quarter of 2020, the result of repurchasing 5.2 million shares of stock at a cost of $305 million since June 30, 2020.\n<\/p>\n<p><b>Book Value<\/b><\/p>\n<p>\nAs of June 30, 2021, book value per share, including AOCI, increased 7% from the prior-year period to $115.00. Book value per share, excluding AOCI, increased 9% from the prior-year period to $75.45.\n<\/p>\n<p>\nThe tables attached to this release define and reconcile the non-GAAP measures adjusted income from operations, adjusted operating ROE and BVPS, excluding AOCI, to net income, ROE and BVPS, including AOCI, calculated in accordance with GAAP.\n<\/p>\n<p>\nThis press release contains statements that are forward-looking, and actual results may differ materially. Please see the Forward-looking Statements \u2013 Cautionary Language at the end of this release for factors that may cause actual results to differ materially from the company\u2019s current expectations.\n<\/p>\n<p>\nFor other financial information, please refer to the company\u2019s second quarter 2021 statistical supplement available on its website, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.lfg.com%2Finvestor&amp;esheet=52471857&amp;newsitemid=20210804006028&amp;lan=en-US&amp;anchor=http%3A%2F%2Fwww.lfg.com%2Finvestor&amp;index=1&amp;md5=8598f320ef7a2ea3231e9a5101115b8f\">http:\/\/www.lfg.com\/investor<\/a>.\n<\/p>\n<p>\nLincoln Financial Group will discuss the company\u2019s second quarter results with investors in a conference call beginning at 10:00 a.m. Eastern Time on Thursday, August 5, 2021. The conference call will be broadcast live through the company website at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.lfg.com%2Fwebcast&amp;esheet=52471857&amp;newsitemid=20210804006028&amp;lan=en-US&amp;anchor=www.lfg.com%2Fwebcast&amp;index=2&amp;md5=8445bb982b57f700bc1698f3ca95b10b\">www.lfg.com\/webcast<\/a>. Please log on at least fifteen minutes prior to the call to register and download any necessary streaming media software. To participate via phone: (866) 394-4575 (U.S.\/Canada) or (678) 509-7536 (International). Ask for the Lincoln National Conference Call.\n<\/p>\n<p>\nA replay of the call will be available by 1:00 p.m. Eastern Time on August 5, 2021 at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.lfg.com%2Fwebcast&amp;esheet=52471857&amp;newsitemid=20210804006028&amp;lan=en-US&amp;anchor=www.lfg.com%2Fwebcast&amp;index=3&amp;md5=08b197240cb92bd0c4a3787ae73d29b0\">www.lfg.com\/webcast<\/a>. Audio replay will be available from 1:00 p.m. Eastern Time on August 5, 2021 through 12:00 p.m. Eastern Time on August 12, 2021. To access the re-broadcast, dial: (855) 859-2056 (Domestic) or (404) 537-3406 (International). Enter conference code: 1735199.\n<\/p>\n<p><b>About Lincoln Financial Group<\/b><\/p>\n<p>\nLincoln Financial Group provides advice and solutions that help people take charge of their financial lives with confidence and optimism. Today, more than 17 million customers trust our retirement, insurance and wealth protection expertise to help address their lifestyle, savings and income goals, and guard against long-term care expenses. Headquartered in Radnor, Pennsylvania, Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE:LNC) and its affiliates. The company had $324 billion in end-of-period account values as of June 30, 2021. Lincoln Financial Group is a committed corporate citizen included on major sustainability indices including the Dow Jones Sustainability Index North America and FTSE4Good. Dedicated to diversity and inclusion, we earned perfect 100 percent scores on the Corporate Equality Index and the Disability Equality Index, and rank among <i>Forbes\u2019 <\/i>Best Large Employers and Best Employers for Women, and <i>Newsweek\u2019s<\/i> Most Responsible Companies. Learn more at: <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.LincolnFinancial.com&amp;esheet=52471857&amp;newsitemid=20210804006028&amp;lan=en-US&amp;anchor=www.LincolnFinancial.com&amp;index=4&amp;md5=007429f78b824102b41bb6c32e65206a\">www.LincolnFinancial.com<\/a>. Follow us on <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.facebook.com%2Flincolnfinancialgroup&amp;esheet=52471857&amp;newsitemid=20210804006028&amp;lan=en-US&amp;anchor=Facebook&amp;index=5&amp;md5=b79c9b2f12b47a1277c360bff5acd422\">Facebook<\/a>, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fmobile.twitter.com%2Flincolnfingroup&amp;esheet=52471857&amp;newsitemid=20210804006028&amp;lan=en-US&amp;anchor=Twitter&amp;index=6&amp;md5=d110fbfbe0d8c58b55099fa4eca61b5e\">Twitter<\/a>, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2F4307%3FtrkInfo%3Dtas%253Alincoln%2Bfinancial%252Cidx%253A3-1-3%26trk%3Dtyah&amp;esheet=52471857&amp;newsitemid=20210804006028&amp;lan=en-US&amp;anchor=LinkedIn&amp;index=7&amp;md5=76f6db6fff60ec999c9fee0f08f157e5\">LinkedIn<\/a>, and <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.instagram.com%2Flincolnfingroup%2F&amp;esheet=52471857&amp;newsitemid=20210804006028&amp;lan=en-US&amp;anchor=Instagram&amp;index=8&amp;md5=0c1552e9092b332ebafccd24e635ea55\">Instagram<\/a>. Sign up for email alerts at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fnewsroom.lfg.com&amp;esheet=52471857&amp;newsitemid=20210804006028&amp;lan=en-US&amp;anchor=http%3A%2F%2Fnewsroom.lfg.com&amp;index=9&amp;md5=17b5d481a13f666389a157964a756be4\">http:\/\/newsroom.lfg.com<\/a>.\n<\/p>\n<p><b><span class=\"bwuline\">Explanatory Notes on Use of Non-GAAP Measures<\/span><\/b><\/p>\n<p>\nManagement believes that adjusted income from operations (adjusted operating income), adjusted operating return on equity, adjusted operating revenues, and adjusted operating EPS better explain the results of the company\u2019s ongoing businesses in a manner that allows for a better understanding of the underlying trends in the company\u2019s current business because the excluded items are unpredictable and not necessarily indicative of current operating fundamentals or future performance of the business segments, and, in most instances, decisions regarding these items do not necessarily relate to the operations of the individual segments. Management also believes that using book value excluding accumulated other comprehensive income (\u201cAOCI\u201d) enables investors to analyze the amount of our net worth that is primarily attributable to our business operations. Book value per share excluding AOCI is useful to investors because it eliminates the effect of items that can fluctuate significantly from period to period, primarily based on changes in interest rates.\n<\/p>\n<p>\nFor the historical periods, reconciliations of non-GAAP measures used in this press release to the most directly comparable GAAP measure may be included in this Appendix to the press release and\/or are included in the Statistical Reports for the corresponding periods contained in the Earnings section of the Investor Relations page on our website: <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.lfg.com%2Finvestor&amp;esheet=52471857&amp;newsitemid=20210804006028&amp;lan=en-US&amp;anchor=www.lfg.com%2Finvestor&amp;index=10&amp;md5=c659614c89d30af0d2854d6ca7f6361f\">www.lfg.com\/investor<\/a>.\n<\/p>\n<p><b><span class=\"bwuline\">Definitions of Non-GAAP Measures Used in this Press Release<\/span><\/b><\/p>\n<p>\nAdjusted income (loss) from operations, adjusted operating revenues and adjusted operating return on equity (including and excluding average goodwill within average equity), excluding AOCI, using annualized adjusted income (loss) from operations are financial measures we use to evaluate and assess our results. Adjusted income (loss) from operations, adjusted operating revenues and adjusted operating return on equity (\u201cROE\u201d), as used in the press release, are non-GAAP financial measures and do not replace GAAP net income (loss), revenues and ROE, the most directly comparable GAAP measures.\n<\/p>\n<p><b>Adjusted Income (Loss) from Operations<\/b><\/p>\n<p>\nAdjusted income (loss) from operations is GAAP net income (loss) excluding the after-tax effects of the following items, as applicable:\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nRealized gains and losses associated with the following (\u201cexcluded realized gain (loss)\u201d):<\/p>\n<ul class=\"bwlistcircle\">\n<li>\nSales or disposals and impairments of financial assets;\n<\/li>\n<li>\nChanges in the fair value of equity securities;\n<\/li>\n<li>\nChanges in the fair value of derivatives, embedded derivatives within certain reinsurance arrangements and trading securities (\u201cgain (loss) on the mark-to-market on certain instruments\u201d);\n<\/li>\n<li>\nChanges in the fair value of the derivatives we own to hedge our guaranteed death benefit (\u201cGDB\u201d) riders within our variable annuities;\n<\/li>\n<li>\nChanges in the fair value of the embedded derivatives of our guaranteed living benefit (\u201cGLB\u201d) riders reflected within variable annuity net derivative results accounted for at fair value;\n<\/li>\n<li>\nChanges in the fair value of the derivatives we own to hedge our GLB riders reflected within variable annuity net derivative results; and\n<\/li>\n<li>\nChanges in the fair value of the embedded derivative liabilities related to index options we may purchase or sell in the future to hedge contract holder index allocations applicable to future reset periods for our indexed annuity products accounted for at fair value (\u201cindexed annuity forward-starting options\u201d);\n<\/li>\n<\/ul>\n<\/li>\n<li>\nChanges in reserves resulting from benefit ratio unlocking on our GDB and GLB riders (\u201cbenefit ratio unlocking\u201d);\n<\/li>\n<li>\nIncome (loss) from reserve changes, net of related amortization, on business sold through reinsurance;\n<\/li>\n<li>\nGains (losses) on early extinguishment of debt;\n<\/li>\n<li>\nLosses from the impairment of intangible assets;\n<\/li>\n<li>\nIncome (loss) from discontinued operations;\n<\/li>\n<li>\nAcquisition and integration costs related to mergers and acquisitions; and\n<\/li>\n<li>\nIncome (loss) from the initial adoption of new accounting standards, regulations and policy changes including the net impact from the Tax Cuts and Jobs Act.\n<\/li>\n<\/ul>\n<p><b>Adjusted Operating Revenues<\/b><\/p>\n<p>\nAdjusted operating revenues represent GAAP revenues excluding the pre-tax effects of the following items, as applicable:\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nExcluded realized gain (loss);\n<\/li>\n<li>\nRevenue adjustments from the initial adoption of new accounting standards;\n<\/li>\n<li>\nAmortization of deferred front-end loads (\u201cDFEL\u201d) arising from changes in GDB and GLB benefit ratio unlocking; and\n<\/li>\n<li>\nAmortization of deferred gains arising from reserve changes on business sold through reinsurance.\n<\/li>\n<\/ul>\n<p><b>Adjusted Operating Return on Equity<\/b><\/p>\n<p>\nAdjusted operating return on equity measures how efficiently we generate profits from the resources provided by our net assets.\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nIt is calculated by dividing annualized adjusted income (loss) from operations by average equity, excluding accumulated other comprehensive income (loss) (&#8220;AOCI&#8221;).\n<\/li>\n<li>\nManagement evaluates return on equity by both including and excluding average goodwill within average equity.\n<\/li>\n<\/ul>\n<p><b>Definition of Notable Items<\/b><\/p>\n<p>\nAdjusted income (loss) from operations, excluding notable items, is a non-GAAP measure that excludes items which, in management\u2019s view, do not reflect the company\u2019s normal, ongoing operations.\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nWe believe highlighting notable items included in adjusted income (loss) from operations enables investors to better understand the fundamental trends in its results of operations and financial condition.\n<\/li>\n<\/ul>\n<p><b>Book Value Per Share, Excluding AOCI<\/b><\/p>\n<p>\nBook value per share, excluding AOCI is calculated based upon a non-GAAP financial measure.\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nIt is calculated by dividing (a) stockholders&#8217; equity, excluding AOCI by (b) common shares outstanding.\n<\/li>\n<li>\nWe provide book value per share excluding AOCI to enable investors to analyze the amount of our net worth that is primarily attributable to our business operations.\n<\/li>\n<li>\nManagement believes book value per share, excluding AOCI is useful to investors because it eliminates the effect of items that can fluctuate significantly from period to period, primarily based on changes in interest rates.\n<\/li>\n<li>\nBook value per share is the most directly comparable GAAP measure.\n<\/li>\n<\/ul>\n<p><b><span class=\"bwuline\">Special Note<\/span><\/b><\/p>\n<p><b>Sales<\/b><\/p>\n<p>\nSales as reported consist of the following:\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nAnnuities and Retirement Plan Services \u2013 deposits from new and existing customers;\n<\/li>\n<li>\nUniversal life insurance (\u201cUL\u201d), indexed universal life insurance (\u201cIUL\u201d), variable universal life insurance (\u201cVUL\u201d) \u2013 first-year commissionable premiums plus 5% of excess premiums received;\n<\/li>\n<li><i>MoneyGuard<sup>\u00ae<\/sup><\/i>linked-benefit products \u2013 <i>MoneyGuard<sup>\u00ae<\/sup><\/i> (UL), 15% of total expected premium deposits, and<i> MoneyGuard Market Advantage<sup>SM<\/sup><\/i>(VUL), 150% of commissionable premiums;\n<\/li>\n<li>\nExecutive Benefits \u2013 single premium bank-owned UL and VUL, 15% of single premium deposits, and corporate-owned UL and VUL, first-year commissionable premiums plus 5% of excess premium received;\n<\/li>\n<li>\nTerm \u2013 100% of annualized first-year premiums; and\n<\/li>\n<li>\nGroup Protection \u2013 annualized first-year premiums from new policies.\n<\/li>\n<\/ul>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td colspan=\"13\" class=\"bwpadl0 bwalignc\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>Lincoln National Corporation<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"13\" class=\"bwpadl0 bwalignc\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>Reconciliation of Net Income to Adjusted Income from Operations<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"5\" class=\"bwpadl0\" rowspan=\"1\" \/>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"5\" class=\"bwpadl0\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n(in millions, except per share data)\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td colspan=\"5\" class=\"bwpadl0 bwvertalignb bwpadr0 bwalignc bwnowrap\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>For the Quarter Ended<\/b><\/p>\n<\/td>\n<td class=\"bwalignc bwvertalignb bwnowrap\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"5\" class=\"bwpadl0 bwvertalignb bwpadr0 bwalignc bwnowrap\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>For the Six Months Ended<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td colspan=\"5\" class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0 bwalignc bwnowrap\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>June 30,<\/b><\/p>\n<\/td>\n<td class=\"bwalignc bwvertalignb bwnowrap\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"5\" class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0 bwalignc bwnowrap\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td colspan=\"2\" class=\"bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwalignc bwnowrap\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2021<\/b><\/p>\n<\/td>\n<td class=\"bwalignc bwvertalignb bwnowrap\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwalignc bwnowrap\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2020\n<\/p>\n<\/td>\n<td class=\"bwalignc bwvertalignb bwnowrap\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwalignc bwnowrap\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2021<\/b><\/p>\n<\/td>\n<td class=\"bwalignc bwvertalignb bwnowrap\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwalignc bwnowrap\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2020\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Total Revenues<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>$<\/b><\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>4,851<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3,517\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>$<\/b><\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>9,386<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n7,942\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nLess:\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nExcluded realized gain (loss)\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(53)<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(694)\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(281)<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(770)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAmortization of DFEL on benefit ratio unlocking\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwsinglebottom bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwsinglebottom bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>1<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwsinglebottom bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwsinglebottom bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwsinglebottom bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwsinglebottom bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwsinglebottom bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwsinglebottom bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(7)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Total Adjusted Operating Revenues <\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>$<\/b><\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>4,903<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n4,209\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>$<\/b><\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>9,665<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n8,719\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\"><b>Net Income (Loss) Available to Common Stockholders \u2013 Diluted<\/b><\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\"><b>$<\/b><\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\"><b>642<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n$\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(94)\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\"><b>$<\/b><\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\"><b>867<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n$\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(52)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nLess:\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl3\" rowspan=\"1\" colspan=\"1\">Adjustment for deferred units of LNC stock in our deferred compensation plans <sup>(1)<\/sup><\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwsinglebottom bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwsinglebottom bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\"><b>&#8211;<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwsinglebottom bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwsinglebottom bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n&#8211;\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwsinglebottom bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwsinglebottom bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\"><b>&#8211;<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwsinglebottom bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwsinglebottom bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(10)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Net Income (Loss)<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>642<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(94)\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>867<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(42)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nLess:\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nExcluded realized gain (loss), after-tax\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(43)<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(548)\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(223)<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(609)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nBenefit ratio unlocking, after-tax\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>77<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n282\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>131<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(67)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl3\" rowspan=\"1\" colspan=\"1\">Acquisition and integration costs related to mergers and acquisitions, after-tax<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\"><b>&#8211;<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(3)\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\"><b>&#8211;<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n(6)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nGain (loss) on early extinguishment of debt, after-tax\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>&#8211;<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(12)\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>&#8211;<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(12)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl9\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nTotal adjustments\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>34<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(281)\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(92)<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(694)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Adjusted Income (Loss) from Operations<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>$<\/b><\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>608<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n187\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>$<\/b><\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>959<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n652\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Earnings (Loss) Per Common Share \u2013 Diluted <sup>(2)<\/sup><\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNet income (loss)\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>$<\/b><\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>3.34<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.49)\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>$<\/b><\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>4.51<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.27)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAdjusted income (loss) from operations\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>3.17<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0.97\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>4.98<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3.27\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Average Stockholders\u2019 Equity<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAverage equity, including average AOCI\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>$<\/b><\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>20,669<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n18,653\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>$<\/b><\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>20,908<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n18,393\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAverage AOCI\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>6,620<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n5,164\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>6,983<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n4,751\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAverage equity, excluding AOCI\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>14,049<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n13,489\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>13,925<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n13,642\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAverage goodwill\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>1,778<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,778\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>1,778<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,778\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAverage equity, excluding AOCI and goodwill\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>$<\/b><\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>12,271<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n11.711\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>$<\/b><\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>12,147<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n11,864\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Return on Equity, Including AOCI<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNet income (loss) with average equity including goodwill\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>12.4%<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n-2.0%\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>8.3%<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n-0.5%\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Adjusted Operating Return on Equity, Excluding <\/b><b>AOCI<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">Adjusted income (loss) from operations with average equity including goodwill<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\"><b>17.3%<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n5.5%\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\"><b>13.8%<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n9.6%\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">Adjusted income (loss) from operations with average equity excluding goodwill<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\"><b>19.8%<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n6.4%\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\"><b>15.8%<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n11.0%\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td class=\"bwalignl bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n(1)\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwalignl\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nIf the effect of equity classification would result in a more dilutive EPS, the numerator used in the calculation of our diluted EPS is adjusted to remove the mark-to-market adjustment for deferred units of LNC stock in our deferred compensation plans.\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n(2)\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwalignl\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nIn periods where a net loss or adjusted loss from operations is presented, basic shares are used in the diluted EPS and adjusted diluted EPS calculations, as the use of diluted shares would result in a lower loss per share.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td colspan=\"7\" class=\"bwpadl0 bwalignc\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>Lincoln National Corporation<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"7\" class=\"bwpadl0 bwalignc\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>Reconciliation of Book Value per Share<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"5\" class=\"bwpadl0\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td colspan=\"5\" class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwalignc bwnowrap\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>As of June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td colspan=\"2\" class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0 bwalignc\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2021<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td colspan=\"2\" class=\"bwsinglebottom bwpadl0 bwvertalignb bwpadr0 bwalignc\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2020\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nBook value per share, including AOCI\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\"><b>$<\/b><\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\"><b>115.00<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n$\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n107.28\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nPer share impact of AOCI\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\"><b>39.55<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n37.90\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nBook value per share, excluding AOCI\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\"><b>75.45<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n69.38\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td colspan=\"7\" class=\"bwpadl0 bwalignc\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>Lincoln National Corporation<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"7\" class=\"bwpadl0 bwalignc\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>Digest of Earnings<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"5\" class=\"bwpadl0\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n(in millions, except per share data)\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td colspan=\"5\" class=\"bwvertalignt bwpadl0\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td colspan=\"5\" class=\"bwpadl0 bwsinglebottom bwvertalignb bwpadr0 bwalignc bwnowrap\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>For the Quarter Ended<br \/>\n<br \/>June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td colspan=\"2\" class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwalignc\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2021<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td colspan=\"2\" class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwalignc\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2020\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Revenues<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>$<\/b><\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>4,851<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3,517\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Net Income (Loss)<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>$<\/b><\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>642<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(94)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAdjustment for deferred units of LNC stock in our deferred compensation plans <sup>(1)<\/sup><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0 bwsinglebottom\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0 bwsinglebottom\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>&#8211;<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0 bwsinglebottom\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0 bwsinglebottom\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n&#8211;\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Net Income (Loss) Available to Common Stockholders \u2013 Diluted<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>$<\/b><\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>642<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(94)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Earnings (Loss) Per Common Share \u2013 Basic<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>$<\/b><\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>3.38<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.49)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Earnings (Loss) Per Common Share \u2013 Diluted <sup>(2)<\/sup><\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>3.34<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.49)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Average Shares \u2013 Basic<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>189,987,670<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n193,228,547\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Average Shares \u2013 Diluted<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>192,202,398<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n193,776,452\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td colspan=\"5\" class=\"bwpadl0 bwsinglebottom bwvertalignb bwpadr0 bwalignc bwnowrap\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>For the Six Months Ended<br \/>\n<br \/>June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td colspan=\"2\" class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwalignc\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2021<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td colspan=\"2\" class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwalignc\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2020\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Revenues<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>$<\/b><\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>9,386<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n7,942\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Net Income (Loss)<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>$<\/b><\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>867<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(42)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAdjustment for deferred units of LNC stock in our deferred compensation plans <sup>(1)<\/sup><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0 bwsinglebottom\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0 bwsinglebottom\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>&#8211;<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0 bwsinglebottom\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0 bwsinglebottom\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(10)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Net Income (Loss) Available to Common Stockholders \u2013 Diluted<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>$<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>867<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(52)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Earnings (Loss) Per Common Share \u2013 Basic<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>$<\/b><\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>4.54<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.22)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Earnings (Loss) Per Common Share \u2013 Diluted <sup>(2)<\/sup><\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>4.51<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.27)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Average Shares \u2013 Basic<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>190,878,951<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n194,152,672\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Average Shares \u2013 Diluted<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>192,362,012<\/b><\/p>\n<\/td>\n<td rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwpadl0 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n196,236,491\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td class=\"bwalignl bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n(1)\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwalignl\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\nIf the effect of equity classification would result in a more dilutive EPS, the numerator used in the calculation of our diluted EPS is adjusted to remove the mark-to-market adjustment for deferred units of LNC stock in our deferred compensation plans.\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwalignl bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n(2)\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwalignl\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\">\nIn periods where a net loss or adjusted loss from operations is presented, basic shares are used in the diluted EPS and adjusted diluted EPS calculations, as the use of diluted shares would result in a lower loss per share.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><b>Forward Looking Statements \u2014 Cautionary Language <\/b><\/p>\n<p>\nCertain statements made in this press release and in other written or oral statements made by Lincoln or on Lincoln&#8217;s behalf are &#8220;forward-looking statements&#8221; within the meaning of the Private Securities Litigation Reform Act of 1995 (\u201cPSLRA\u201d). A forward-looking statement is a statement that is not a historical fact and, without limitation, includes any statement that may predict, forecast, indicate or imply future results, performance or achievements. Forward-looking statements may contain words like: &#8220;anticipate,&#8221; &#8220;believe,&#8221; &#8220;estimate,&#8221; &#8220;expect,&#8221; &#8220;project,&#8221; &#8220;shall,&#8221; &#8220;will,&#8221; and other words or phrases with similar meaning in connection with a discussion of future operating or financial performance. In particular, these include statements relating to future actions, trends in Lincoln&#8217;s businesses, prospective services or products, future performance or financial results, and the outcome of contingencies, such as legal proceedings. Lincoln claims the protection afforded by the safe harbor for forward-looking statements provided by the PSLRA.\n<\/p>\n<p>\nForward-looking statements are subject to risks and uncertainties. Actual results could differ materially from those expressed in or implied by such forward-looking statements due to a variety of factors, including:\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nThe continuation of the COVID-19 pandemic, or future outbreaks of COVID-19, and uncertainty surrounding the length and severity of future impacts on the global economy and on our business, results of operations and financial condition;\n<\/li>\n<li>\nFurther deterioration in general economic and business conditions that may affect account values, investment results, guaranteed benefit liabilities, premium levels and claims experience;\n<\/li>\n<li>\nAdverse global capital and credit market conditions that may affect our ability to raise capital, if necessary, and may cause us to realize impairments on investments and certain intangible assets, including goodwill and the valuation allowance against deferred tax assets, which may reduce future earnings and\/or affect our financial condition and ability to raise additional capital or refinance existing debt as it matures;\n<\/li>\n<li>\nThe inability of our subsidiaries to pay dividends to the holding company in sufficient amounts, which could harm the holding company\u2019s ability to meet its obligations;\n<\/li>\n<li>\nLegislative, regulatory or tax changes, both domestic and foreign, that affect: the cost of, or demand for, our subsidiaries&#8217; products; the required amount of reserves and\/or surplus; our ability to conduct business and our captive reinsurance arrangements as well as restrictions on the payment of revenue sharing and 12b-1 distribution fees;\n<\/li>\n<li>\nThe impact of U.S. federal tax reform legislation on our business, earnings and capital;\n<\/li>\n<li>\nThe impact of Regulation Best Interest or other regulations adopted by the Securities and Exchange Commission (\u201cSEC\u201d), the Department of Labor, or other federal or state regulators or self-regulatory organizations relating to the standard of care owed by investment advisers and\/or broker dealers that could affect our distribution model;\n<\/li>\n<li>\nActions taken by reinsurers to raise rates on in-force business;\n<\/li>\n<li>\nFurther declines in or sustained low interest rates causing a reduction in investment income, the interest margins of our businesses, estimated gross profits and demand for our products;\n<\/li>\n<li>\nRapidly increasing interest rates causing contract holders to surrender life insurance and annuity policies, thereby causing realized investment losses, and reduced hedge performance related to variable annuities;\n<\/li>\n<li>\nThe impact of the implementation of the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act relating to the regulation of derivatives transactions;\n<\/li>\n<li>\nThe initiation of legal or regulatory proceedings against us, and the outcome of any legal or regulatory proceedings, such as: adverse actions related to present or past business practices common in businesses in which we compete; adverse decisions in significant actions including, but not limited to, actions brought by federal and state authorities and class action cases; new decisions that result in changes in law; and unexpected trial court rulings;\n<\/li>\n<li>\nA decline or continued volatility in the equity markets causing a reduction in the sales of our subsidiaries&#8217; products; a reduction of asset-based fees that our subsidiaries charge on various investment and insurance products; an acceleration of the net amortization of deferred acquisition costs (&#8220;DAC&#8221;), value of business acquired (&#8220;VOBA&#8221;), deferred sales inducements (&#8220;DSI&#8221;) and deferred front-end loads (&#8220;DFEL&#8221;); and an increase in liabilities related to guaranteed benefit features of our subsidiaries&#8217; variable annuity products;\n<\/li>\n<li>\nIneffectiveness of our risk management policies and procedures, including various hedging strategies used to offset the effect of changes in the value of liabilities due to changes in the level and volatility of the equity markets and interest rates;\n<\/li>\n<li>\nA deviation in actual experience regarding future persistency, mortality, morbidity, interest rates or equity market returns from the assumptions used in pricing our subsidiaries&#8217; products, in establishing related insurance reserves and in the net amortization of DAC, VOBA, DSI and DFEL, which may reduce future earnings;\n<\/li>\n<li>\nChanges in accounting principles that may affect our business, results of operations and financial condition;\n<\/li>\n<li>\nLowering of one or more of our debt ratings issued by nationally recognized statistical rating organizations and the adverse effect such action may have on our ability to raise capital and on our liquidity and financial condition;\n<\/li>\n<li>\nLowering of one or more of the insurer financial strength ratings of our insurance subsidiaries and the adverse effect such action may have on the premium writings, policy retention, profitability of our insurance subsidiaries and liquidity;\n<\/li>\n<li>\nSignificant credit, accounting, fraud, corporate governance or other issues that may adversely affect the value of certain financial assets, as well as counterparties to which we are exposed to credit risk requiring that we realize losses on financial assets;\n<\/li>\n<li>\nInterruption in telecommunication, information technology or other operational systems, or failure to safeguard the confidentiality or privacy of sensitive data on such systems, including from cyberattacks or other breaches of our data security systems;\n<\/li>\n<li>\nThe effect of acquisitions and divestitures, restructurings, product withdrawals and other unusual items;\n<\/li>\n<li>\nThe adequacy and collectability of reinsurance that we have purchased;\n<\/li>\n<li>\nFuture pandemics, acts of terrorism, war or other man-made and natural catastrophes that may adversely affect our businesses and the cost and availability of reinsurance;\n<\/li>\n<li>\nCompetitive conditions, including pricing pressures, new product offerings and the emergence of new competitors, that may affect the level of premiums and fees that our subsidiaries can charge for their products;\n<\/li>\n<li>\nThe unknown effect on our subsidiaries&#8217; businesses resulting from evolving market preferences and the changing demographics of our client base; and\n<\/li>\n<li>\nThe unanticipated loss of key management, financial planners or wholesalers.\n<\/li>\n<\/ul>\n<p>\nThe risks and uncertainties included here are not exhaustive. Our most recent Form 10-K, as well as other reports that we file with the SEC, include additional factors that could affect our businesses and financial performance. Moreover, we operate in a rapidly changing and competitive environment. New risk factors emerge from time to time, and it is not possible for management to predict all such risk factors.\n<\/p>\n<p>\nFurther, it is not possible to assess the effect of all risk factors on our businesses or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. In addition, Lincoln disclaims any obligation to update any forward-looking statements to reflect events or circumstances that occur after the date of this press release.\n<\/p>\n<p>\nThe reporting of Risk Based Capital (\u201cRBC\u201d) measures is not intended for the purpose of ranking any insurance company or for use in connection with any marketing, advertising or promotional activities.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210804006028r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210804006028\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210804006028\/en\/<\/a><\/span><\/p>\n<p>\nAl Copersino<br \/>\n<br \/>(203) 257-4493<br \/>\n<br \/>Investor Relations<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:InvestorRelations@LFG.com\">InvestorRelations@LFG.com<\/a><\/p>\n<p>\nHolly Fair<br \/>\n<br \/>(484) 583-1632<br \/>\n<br \/>Media Relations<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:Holly.Fair@LFG.com\">Holly.Fair@LFG.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America Pennsylvania<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Finance Consulting Banking Professional Services Insurance<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210804006028\/en\/398522\/3\/LFG-B-HORZ_202_K.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Lincoln Financial Group Reports Second Quarter 2021 Results Net income EPS of $3.34 and adjusted operating EPS of $3.17 Adjusted operating EPS included $(0.22) from elevated pandemic-related claims experience and $0.59 of above targeted alternative investment income Net income ROE, including AOCI, of 12.4% and adjusted operating ROE, excluding AOCI, of 17.3% BVPS, including AOCI, of $115.00, up 7%; BVPS, excluding AOCI, of $75.45, up 9% $230 million of capital returned to shareholders, including $150 million in share repurchases RADNOR, Pa.&#8211;(BUSINESS WIRE)&#8211; Lincoln Financial Group (NYSE: LNC) today reported net income for the second quarter of 2021 of $642 million, or $3.34 per diluted share available to common stockholders, compared to a net loss in the second quarter of 2020 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/lincoln-financial-group-reports-second-quarter-2021-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Lincoln Financial Group Reports Second Quarter 2021 Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-523487","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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