Lincoln National Corporation
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $1.18B | $3.28B | $-752.0M | $1.36B | $3.78B | $499.0M | $886.0M | $1.64B |
| Depreciation & Amortization | — | — | — | — | — | — | — | — |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | — | — | — | — | — | — | — | — |
| Net Cash from Operating Activities | $-167.0M | $-2.01B | $-2.07B | $3.61B | $-217.0M | $534.0M | $-2.69B | $1.94B |
| Investing Activities | ||||||||
| Capital Expenditures | — | — | — | — | — | — | — | — |
| Business Acquisitions | — | — | — | — | — | — | — | $1.41B |
| Net Cash from Investing Activities | $-4.01B | $821.0M | $-3.33B | $-11.65B | $-3.58B | $-9.48B | $-5.50B | $-5.82B |
| Financing Activities | ||||||||
| Dividends Paid | $325.0M | $307.0M | $305.0M | $310.0M | $319.0M | $311.0M | $303.0M | $289.0M |
| Stock Repurchases | — | $0 | $0 | $550.0M | $1.11B | $275.0M | $550.0M | $900.0M |
| Net Cash from Financing Activities | $7.88B | $3.62B | $5.43B | $8.77B | $4.71B | $8.09B | $8.40B | $4.59B |
| Net Change in Cash | $3.70B | $2.44B | $22.0M | $731.0M | $904.0M | — | — | — |
| Free Cash Flow | — | — | — | — | — | — | — | — |