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Previous: LANCE INC, 10-K, 1998-03-26 |
Next: LOEWS CORP, DEF 14A, 1998-03-26 |
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q/A
QUARTERLY REPORT UNDER SECTION 13 or 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For quarter ended September 30,1997 Commission file number 1-6028
LINCOLN NATIONAL CORPORATION
(Exact name of registrant as specified in its charter)
Indiana 35-1140070
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
200 East Berry Street, Fort Wayne, Indiana 46802-2706
(Address of Principal Executive Offices)
Registrant's telephone number (219) 455-2000
Common stock outstanding October 31, 1997 101,374,775
Indicate by check mark whether registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934
during the preceding 12 months (or for such shorter periods that the registrant
was required to file such reports) and (2) has been subject to such filing
requirements for the past 90 days.
Yes [ X ] No [ ]
Page 1 of 4
<PAGE> 2
This 10-Q Amendment is being filed solely for the purpose of submitting
Restated Financial Data Schedules, Exhibits 27.1 and 27.2.
Exhibit Index for the Report on Form 10-Q/A
for the Quarter Ended September 30, 1997
Exhibit Number Description Page
27.1 Restated Financial Data Schedules 3
27.2 Restated Financial Data Schedules 4
SIGNATURE PAGE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
LINCOLN NATIONAL CORPORATION
By /S/ Richard C. Vaughan
Richard C. Vaughan,
Executive Vice President and
Chief Financial Officer
/S/ Donald L. Van Wyngarden
Donald L. Van Wyngarden,
Second Vice President and Controller
<TABLE> <S> <C>
<ARTICLE> 7
<LEGEND>
This schedule contains summary financial information extracted from the
condensed consolidated financial statements of Lincoln National Corporation
and is qualified in its entirety by reference to such condensed consolidated
financial statements.
</LEGEND>
<RESTATED>
<CIK> 0000059558
<NAME> Lincoln National Corporation
<S> <C> <C> <C> <C>
<PERIOD-TYPE> 9-MOS 6-MOS 3-MOS Year
<FISCAL-YEAR-END> Dec-31-1997 Dec-31-1997 Dec-31-1997 Dec-31-1996
<PERIOD-START> Jan-01-1997 Jan-01-1997 Jan-01-1997 Jan-01-1996
<PERIOD-END> Sep-30-1997 Jun-30-1997 Mar-31-1997 Dec-31-1996
<DEBT-HELD-FOR-SALE> 24,253,418,000 24,132,925,000 23,543,803,000 24,096,669,000
<DEBT-CARRYING-VALUE> 0 0 0 0
<DEBT-MARKET-VALUE> 0 0 0 0
<EQUITIES> 684,378,000 658,989,000 562,318,000 557,565,000
<MORTGAGE> 3,216,760,000 3,244,922,000 3,230,363,000 3,240,686,000
<REAL-ESTATE> 601,288,000 610,288,000 614,919,000 655,024,000
<TOTAL-INVEST> 29,862,419,000 29,729,577,000 29,046,333,000 29,729,996,000
<CASH> 1,246,992,000 1,272,828,000 1,115,147,000 1,144,766,000
<RECOVER-REINSURE> 2,295,230,000 2,304,518,000 2,193,905,000 2,328,514,000
<DEFERRED-ACQUISITION> 1,595,010,000 1,669,263,000 1,867,996,000 1,689,716,000
<TOTAL-ASSETS> 79,963,499,000 76,794,040,000 71,996,614,000 71,713,405,000
<POLICY-LOSSES> 10,783,747,000 10,528,613,000 10,296,265,000 11,266,272,000
<UNEARNED-PREMIUMS> 0 0 0 0
<POLICY-OTHER> 0 0 0 0
<POLICY-HOLDER-FUNDS> 20,438,945,000 20,812,382,000 20,931,861,000 20,063,393,000
<NOTES-PAYABLE> 1,292,466,000 1,185,773,000 1,135,018,000 1,130,271,000
0 0 0 0
1,157,000 1,174,000 1,201,000 1,212,000
<COMMON> 962,487,000 967,568,000 901,343,000 904,331,000
<OTHER-SE> 3,677,414,000 3,516,000,000 3,378,586,000 3,564,413,000
<TOTAL-LIABILITY-AND-EQUITY> 79,963,499,000 76,794,040,000 71,996,614,000 71,713,405,000
1,517,482,000 974,805,000 528,702,000 2,232,688,000
<INVESTMENT-INCOME> 1,665,655,000 1,117,185,000 559,360,000 2,087,946,000
<INVESTMENT-GAINS> 71,602,000 14,636,000 12,110,000 92,520,000
<OTHER-INCOME> 338,428,000 219,516,000 53,556,000 139,662,000
<BENEFITS> 2,149,555,000 1,419,198,000 740,322,000 2,709,881,000
<UNDERWRITING-AMORTIZATION> 372,034,000 311,649,000 86,351,000 428,493,000
<UNDERWRITING-OTHER> 803,726,000 525,311,000 257,367,000 1,091,176,000
<INCOME-PRETAX> 197,835,000 24,449,000 114,031,000 504,058,000
<INCOME-TAX> 37,886,000 (10,613,000) 31,011,000 147,669,000
<INCOME-CONTINUING> 159,949,000 35,062,000 83,020,000 356,389,000
<DISCONTINUED> 134,886,000 88,519,000 48,322,000 157,169,000
<EXTRAORDINARY> 0 0 0 0
<CHANGES> 0 0 0 0
<NET-INCOME> 294,835,000 123,581,000 131,342,000 513,558,000
<EPS-PRIMARY> 2.88 1.20 1.27 4.95
<EPS-DILUTED> 2.84 1.19 1.26 4.87
<RESERVE-OPEN> 0 0 0 0
<PROVISION-CURRENT> 0 0 0 0
<PROVISION-PRIOR> 0 0 0 0
<PAYMENTS-CURRENT> 0 0 0 0
<PAYMENTS-PRIOR> 0 0 0 0
<RESERVE-CLOSE> 0 0 0 0
<CUMULATIVE-DEFICIENCY> 0 0 0 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 7
<LEGEND>
This schedule contains summary financial information extracted from the
condensed consolidated financial statements of Lincoln National Corporation
and is qualified in its entirety by reference to such condensed consolidated
financial statements.
</LEGEND>
<RESTATED>
<CIK> 0000059558
<NAME> Lincoln National Corporation
<S> <C> <C> <C> <C>
<PERIOD-TYPE> 9-MOS 6-MOS 3-MOS Year
<FISCAL-YEAR-END> Dec-31-1996 Dec-31-1996 Dec-31-1996 Dec-31-1995
<PERIOD-START> Jan-01-1996 Jan-01-1996 Jan-01-1996 Jan-01-1995
<PERIOD-END> Sep-30-1996 Jun-30-1996 Mar-31-1996 Dec-31-1995
<DEBT-HELD-FOR-SALE> 21,326,839,000 21,356,385,000 21,304,717,000 21,918,406,000
<DEBT-CARRYING-VALUE> 0 0 0 0
<DEBT-MARKET-VALUE> 0 0 0 0
<EQUITIES> 552,230,000 555,863,000 559,532,000 727,159,000
<MORTGAGE> 3,346,337,000 3,332,744,000 3,252,859,000 3,153,553,000
<REAL-ESTATE> 775,863,000 789,783,000 742,655,000 775,912,000
<TOTAL-INVEST> 26,994,060,000 26,952,705,000 26,745,895,000 27,514,398,000
<CASH> 1,304,702,000 1,214,864,000 1,295,154,000 1,452,170,000
<RECOVER-REINSURE> 2,261,395,000 2,260,609,000 2,233,672,000 2,261,723,000
<DEFERRED-ACQUISITION> 1,751,013,000 1,821,329,000 1,682,689,000 1,237,443,000
<TOTAL-ASSETS> 67,182,048,000 65,964,456,000 64,231,637,000 63,257,733,000
<POLICY-LOSSES> 10,172,406,000 10,012,603,000 10,005,436,000 10,007,427,000
<UNEARNED-PREMIUMS> 0 0 0 0
<POLICY-OTHER> 0 0 0 0
<POLICY-HOLDER-FUNDS> 18,579,852,000 18,708,076,000 18,673,469,000 18,774,286,000
<NOTES-PAYABLE> 1,195,607,000 1,111,620,000 1,089,120,000 1,086,151,000
0 0 0 0
1,235,000 1,273,000 1,277,000 1,335,000
<COMMON> 911,529,000 910,484,000 908,958,000 907,432,000
<OTHER-SE> 3,375,109,000 3,271,267,000 3,235,811,000 3,469,355,000
<TOTAL-LIABILITY-AND-EQUITY> 67,182,048,000 65,964,456,000 64,231,637,000 63,257,733,000
1,648,033,000 725,442,000 513,565,000 2,114,280,000
<INVESTMENT-INCOME> 1,516,938,000 996,951,000 491,199,000 1,979,663,000
<INVESTMENT-GAINS> 71,617,000 72,321,000 50,166,000 240,151,000
<OTHER-INCOME> 106,853,000 48,791,000 26,355,000 126,800,000
<BENEFITS> 1,990,881,000 1,285,378,000 649,671,000 2,851,321,000
<UNDERWRITING-AMORTIZATION> 324,176,000 201,787,000 145,136,000 327,458,000
<UNDERWRITING-OTHER> 787,161,000 544,570,000 192,724,000 993,291,000
<INCOME-PRETAX> 376,177,000 262,324,000 138,466,000 414,417,000
<INCOME-TAX> 114,472,000 83,576,000 45,047,000 113,007,000
<INCOME-CONTINUING> 261,705,000 178,748,000 93,419,000 301,410,000
<DISCONTINUED> 0 72,719,000 46,605,000 180,776,000
<EXTRAORDINARY> 0 0 0 0
<CHANGES> 0 0 0 0
<NET-INCOME> 370,777,000 251,467,000 140,024,000 482,186,000
<EPS-PRIMARY> 3.57 2.42 1.35 4.78
<EPS-DILUTED> 3.52 2.39 1.33 4.60
<RESERVE-OPEN> 0 0 0 0
<PROVISION-CURRENT> 0 0 0 0
<PROVISION-PRIOR> 0 0 0 0
<PAYMENTS-CURRENT> 0 0 0 0
<PAYMENTS-PRIOR> 0 0 0 0
<RESERVE-CLOSE> 0 0 0 0
<CUMULATIVE-DEFICIENCY> 0 0 0 0
</TABLE>
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