Item 2.02. Results of Operations and Financial Condition.
On April 6, 2023, Lincoln National Corporation (the “Company”) made available on its website a restated condensed version of its Statistical Supplement for the quarter ended December 31, 2022, previously published by the Company and furnished on Form 8-K on February 8, 2023 (the “Original Q4 2022 Statistical Supplement”). The restated condensed Fourth Quarter 2022 Statistical Supplement includes restated financial information reflecting: (i) the Company’s restated audited consolidated financial statements for the years ended December 31, 2022 and December 31, 2021, as well as unaudited restated interim financial information for the quarterly periods in 2022 and 2021, as filed by the Company with the Securities and Exchange Commission on Form 10-K/A on March 30, 2023; and (ii) the Company’s adoption, as of January 1, 2023, of the provisions of Accounting Standards Update No. 2018-12, “Targeted Improvements to the Accounting for Long-Duration Contracts and Related Amendments” (“LDTI”), which retroactively restated all prior periods presented in the condensed Statistical Supplement. The restated condensed Fourth Quarter 2022 Statistical Supplement replaces in its entirety the Original Q4 2022 Statistical Supplement.
LDTI was applied as of the beginning of the earliest period presented in the Company’s quarterly and annual financial statements, which resulted in a January 1, 2021 transition date. We expect to file restated audited financial statements for the years ended December 31, 2022 and December 31, 2021 reflecting the adoption of LDTI later this quarter subsequent to the filing of our Quarterly Report on Form 10-Q for the quarter ended March 31, 2023. The information in the restated condensed Fourth Quarter 2022 Statistical Supplement reflecting the impacts of the adoption of LDTI is unaudited and is being provided at this time voluntarily, and prior to the availability of the audited financial statements, to assist investors and other users of our financial statements in evaluating the impact of LDTI on the Company’s financial position and results of operations. It is possible that the restated audited financial statements under LDTI may differ, perhaps materially, from the information included in the restated condensed Fourth Quarter 2022 Statistical Supplement.
The restated condensed Fourth Quarter 2022 Statistical Supplement is attached as Exhibit 99.1 and is incorporated herein by reference.
The information, including the exhibit attached hereto, furnished under this Item 2.02 shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information in this Current Report shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, except as otherwise expressly stated in such filing.
Item 9.01. Financial Statements and Exhibits.
(d)Exhibits.
The following exhibit is being furnished with this Form 8-K.